REGISTERED COMPANY NUMBER: 03077894 (England and Wales) REGISTERED CHARITY NUMBER: 1048093
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
FOR
NOW! CHARITY GROUP LTD (A COMPANY LIMITED BY GUARANTEE)
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
NOW! CHARITY GROUP LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
| Page | ||
|---|---|---|
| Report of the Trustees | 1 to 8 | |
| Independent Examiner's Report | 9 | |
| Statement of Financial Activities | 10 | |
| Balance Sheet | 11 to 12 | |
| Cash Flow Statement | 13 | |
| Notes to the Cash Flow Statement | 14 | |
| Notes to the Financial Statements | 15 to 24 | |
| Detailed Statement of Financial Activities | 25 to 26 |
NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
Now! Charity Group Ltd is a registered charity and a company limited by guarantee.
The Charity's objects are:
1) To relieve cases of need, hardship and distress by providing such persons, who are resident in South-East England, with furniture and household necessities, and to transport these necessities between accommodation and sites.
2) To further the education and skills of people resident in the above area, in (1) the arts and techniques of refurbishment of furniture and household goods; or that will enable individuals to recover confidence, gain new skills or become better socialised, to enable them to progress towards volunteering, further education, or paid work.
3) The protection and preservation of the environment for the public benefit through: i) the promotion of sustainable waste management practices and the provision of recycling and reuse facilities;
ii) advancing public education about environmental matters related to sustainable management practices with regard to household and commercial/industrial waste;
iv) promoting and increasing reuse of all furniture, electrics and other household materials/items through the fulfilment of the objectives above.
In this clause sustainable waste management practice includes waste minimisation, minimisation of pollution and harm from waste, re-use of land, recycling and composting of waste, waste recovery activities and the clearing of pollutants from contaminated land.
It is the policy of Now! Charity Group Ltd to provide services and activities that do not discriminate on the grounds of race, gender, belief, ability or sexual orientation. In order to achieve this, the charity has in place relevant policies and procedures, and its services are planned and delivered in consultation with other agencies and service users.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Public benefit
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We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The Trustees consider that our activities reflect our aims and objectives, and that they are designed to provide accessible services and activities that benefit the public in accordance with our charitable objectives. Objective 1 is achieved through the presence of our Furniture Stores in Eastbourne, Hailsham and Lewes, and our fleet of delivery vans. Objective 2 is achieved via our community activities delivered across East Sussex. Objective 3 is achieved through our expanding range of reuse services and our use of media to raise public awareness of circular economy opportunities.
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
STRATEGIC REPORT Achievement and performance Charitable activities
Highlights from 2021
Furniture Now!
In 2021, Furniture Now supported over 11,500 beneficiaries, providing household savings of over £700,000. Our commitment to reusing furniture and electricals prompted 187,729 KG of CO2 emissions being saved.
COVID-19 Sussex Household Relief Scheme
As a result of the COVID-19 pandemic, we introduced the COVID-19 Sussex Household Relief Scheme which was delivered in partnership with the Sussex Community Foundation. Our CEO recognised that the governments instruction for members of the public to stay at home would increase the emphasis on having adequate living conditions as well as increasing physical/mental health risks in communities where these do not exist. Relief scheme criteria were listed on our website and referrals accepted via members of the public and public/voluntary sector support organisations. Subsequently, the relief scheme provided £10,000 in free household items to people in need, including beds, appliances, and cleaning sets. Due to the scheme being oversubscribed, proactive steps were taken to identify unsuccessful applicants and assist them via signposting to other funding sources and additional provision through our Furniture Now! services once lockdown was lifted.
Education & Furniture Upcycling provision
English, Maths, and employability skills training is an important part of our community offer, emphasising our commitment to addressing social exclusion and unemployment. The COVID-19 pandemic prompted these services to be adapted and delivered via remote learning, with our Lead Tutor playing a crucial part in its delivery. Despite COVID-19 related challenges, following our annual assessment we successfully maintained our status as an 'Outstanding' NCFE accredited learning centre for a seventh consecutive year. In Lewes, we have maintained our fully funded and resourced upcycling/woodwork facility, with our lead carpenter continuing to act as a part-time employee.
Baby 2 Baby
We introduced a new collaboration with local children's charity, Baby 2 Baby (1185207). The outcome of our partnership saw the introduction of a new children's bank at our Lewes site, with multiple vulnerable local families gifted items such as toys, clothes and specialist essentials that would not usually be stocked at our Furniture Now sites.
Creative Café
In June, our CEO, Michael Ryan and a representative from our Kickstart employees participated in a Creative Café careers event at Priory School in Lewes. The team delivered multiple workshops to students themed on developing community initiatives which would address a cause that the young people felt passionate about. Common topics included climate change and this prompted a great opportunity to share our experiences of reuse and waste prevention.
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Afghan and Syrian Refugee Resettlement Project
Throughout 2021, we were proud to support multiple Afghan and Syrian Refugee Resettlement projects. Working in partnership with several local authority areas, our services sought to fully furnish properties identified to assist vulnerable refugees with immediate housing needs.
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NOW! CHARITY GROUP LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
Tenancy at 9 High Street, Hailsham
On 28th October, the charity commenced tenancy at 9 High Street, Hailsham. The site, standing at 4300 sq ft, will incorporate an expanded version of our Wealden-focused Furniture Now operations. During the coming months, the property is set to undergo extensive refurbishment works and a public opening date has been targeted for March 2022.
Sustainable Communities Fund - from 2022 onwards
Next year, our charity is set to launch our new Sustainable Communities Fund. Our Sustainable Communities Fund has been created to redistribute annual profits generated by our Furniture Now! retail sites and support local projects in East Sussex that reflect our ethos and aims, specifically promoting community activities which encourage the circular economy, reuse, recycling and repair. Grants from the Sustainable Communities Fund shall be used to support groups/organisations in East Sussex working to: reduce waste and environmental impact through adopting measures that reuse, recycle and repair products and materials.
Partnerships and Stakeholders
Reuse and Recycling European Social Enterprise Network
For a third consecutive year we maintained our membership as a UK representative of RREUSE. Throughout 2021, our CEO, Michael Ryan contributed to several RREUSE working group meetings and provided an overview to our European-based colleagues which documented our business's response to the COVID-19 pandemic.
Reuse Network
Following an 8-year hiatus, in September we took steps to renew our membership with the Reuse Network. The Reuse Network supports reuse charities and social enterprises across the UK to help them alleviate poverty, reduce waste and tackle climate change. Our organisation has enjoyed a fruitful association with the Reuse Network in the past. During his tenure, our first CEO, Rik Child once sat as a trustee of the Reuse Network and Furniture Now is held in high regard as one of the Reuse Network's founding partners. The Reuse Network has sought to welcome us back into their membership and, on 11th November, we were invited to their annual conference to share insight into our successes during COVID-19.
Dunelm takeback scheme
In August 2021, Furniture Now launched a new takeback scheme partnership with Dunelm, the scope of which has initially focused on the Eastbourne area.
Numerous advertising prompts are present at local Dunelm stores - all of which encourage their customers to offer their reusable goods to Furniture Now. Dunelm consumers are requested to use our website to submit their household collection enquiry and we track engagement via the QR code or the 'how did you hear' prompt on our collection booking form.
Benefits have included
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Furniture Now services are advertised to Dunelm's large customer base.
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Increased access to quality reusable items, preventing landfill as an alternative outcome.
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Increased organisational credibility through association with one of the largest homeware retailers in the UK.
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Access to Dunelm's hospitality facilities to deliver meetings and events.
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
STRATEGIC REPORT Financial review
Financial position
Despite the challenges presented by COVID-19, our CEO and his support team ensured that our financial position in 2021 remained strong with a surplus of £58.3k, strengthening the charity's resilience to cope with a consistently changing operating landscape. Our financial position was aided by meeting the qualifying criteria for several government COVID-19 business support schemes, whilst maximising opportunities to serve our clientele when our retail sites were permitted to open to the public.
Reserves policy
The Trustees determined that the Charity should maintain a minimum unrestricted reserve total equal to 3 months operating expenditure. Currently, this total stands at 6 months.
Major risks
The board of Trustees review major risks which the charity is exposed to on a quarterly basis, with our full risk register updated on an annual basis and systems implemented regularly to mitigate identified risks. The Trustees are appraised of any major risks, both internal and external, by the Chief Executive who is aided by input from our sub-committees.
Staffing
Our overall number of employed staff was higher in 2021 than in previous years, this was largely due to the recruitment of 12 additional employees via the UK Governments Kickstart employment scheme. During periods of national lockdown, the UK Government COVID-19 Job Retention Scheme was utilised for our workforce and regular attempts were made to communicate with employees (non-duty related) to ensure maintenance of their personal wellbeing. Once lockdown restrictions were lifted, all staff resumed regular duties and there no redundancies were observed.
COVID-19 pandemic
From 1st January to 12th April, all Furniture Now! sites remained closed to the public due to the restrictions of the national lockdown. Once reopened, social distancing policies, risk assessments and workplace adjustments were made to ensure our sites were COVID-19 secure. In 2021, 100% of our sub-committee and 75% of board meetings were delivered remotely via Zoom, whilst training was coordinated for staff using digital conferencing software. Flexible working arrangements were implemented for administration staff who were able to conduct duties working from home, and additional care provisions were made for staff deemed vulnerable from transmission of coronavirus. The charity continued to supply significant amounts of PPE for staff and participated as a member of the government's workplace testing scheme, providing regular lateral flow testing kits for staff, volunteers and their families.
Future plans
The charity has been fortuitous in having successfully navigated the peak of the COVID-19 pandemic, exiting this period in a robust financial state and a consistent workforce roster. As a result, the charity currently operates with a healthy proportion of unrestricted reserves which could be committed to developing new services or pursing investment projects i.e., new Furniture Now sites. Opportunities relating to both these aspects are carefully considered on an ongoing basis.
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Despite the charities buoyant position, the current cost of living crisis has prompted large fluctuations in our core operating expenditure, with unprecedented increases to fuel and utility costs. Subsequently, over the next 12 months, core expenditure increases shall be monitored prior to any substantial spending of unrestricted reserve money.
Overall, it remains our intention to prioritise growth of our Furniture Now! services, this element of the charity providing a financially sustainable operating model and the ability to redistribute more money into Community Now! and our grant giving activities.
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Now! Charity Group Ltd is a registered charity and is constituted as a company limited by guarantee, as defined by the Companies Act 2006..
The charity formally changed its name from Furniture Now! on 2 June 2015.
Its objectives and powers are set out in its Memorandum and Articles of Association, dated June 28 1955 and since updated in 2001,2007 and 2017. These were updated to include provision to deliver training to those with enduring mental health problems or who were otherwise socially excluded; to provide transport facilities for furniture items to the most vulnerable in society; the promotion of sustainable waste management practices; the provision of recycling facilities; and to advance education in household and commercial industrial waste.
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
Trustees are recruited in response to trustee skills audits which identify the areas the Board would like to strengthen its knowledge or experience base in.
Potential Trustees are invited to meet the Board and attend a Trustee meeting as an observer prior to the board deciding whether to invite that individual to be a Trustee.
A Trustee pack is available to new Trustees and includes:
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The Memorandum and Articles of Association
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An organisational management chart
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Key policies of the organisation including Health & Safety and a Code of Practice
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Information of financial management procedures and budgetary details
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The Grievance & Disciplinary Procedure
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The most recent accounts
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The most recent Annual Report
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A copy of the CC3 document issued by the Charities Commission detailing Trustees' responsibilities.
New trustees are also encouraged to attend appropriate external training events which will facilitate the undertaking of their role.
The Board of Management (Trustees) is the central decision-making body of both the Company and Charity. It consists of:
a) the Treasurer (ex official);
b) not less than three full members of the Company elected at the Annual General Meeting who hold office from the end of that meeting.
At every Annual General Meeting one third of the members of the Board are subject to retirement by rotation. Those who have held office the longest retire and are eligible for reelection by the consent of the remaining trustees. Members of the Company can be approved to fill a vacancy on the Board, or be co-opted to the Board until the next Annual General Meeting, when they are eligible for re-election.
In broad terms the trustees are concerned with:
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prescribing the ends
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setting the boundaries of management authority
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monitoring the results
Trustees thus focus on the charity's purpose and what it can reasonably do in a given time period. Trustees set the parameters, policies and values within which management and staff are free to act. Once the parameters are set, the staff are empowered to make reasonable judgements about planning and organizing the work to achieve the agreed aims.
We have 2 Sub-Committees - Finance & Human Resources; Marketing & Community - which meet on a quarterly basis.
Day to day management of the organisation by delegated by the Board of the CEO, Michael Ryan.
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The Trustees look to management for high quality, well informed advice on which to base decisions about the organisation's objectives, evaluation processes and the like. Management rely on the Trustees to provide objective and challenging feedback from a non-executive perspective. This interdependence between Trustees and management recognises the fact that while Trustees are legally responsible for the charity's activities, both Trustees and management recognise the fact that they have a moral responsibility for the way in which the charity conducts itself.
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Key management remuneration
The directors consider the Board of directors, who are the charity's trustees, and the senior management team comprise the key management of the charity in charge of directing and controlling, running and operating the Charity on a day to day basis.
All directors give of their free time freely and no director received remuneration in the year.
Details of directors' expenses and related party transactions are disclosed in the notes to the accounts.
The pay of all staff is reviewed annually and senior staff pay is increased in line with the rest of the staff. The directors benchmark against pay levels in other charities of a similar size in the local area.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03077894 (England and Wales)
Registered Charity number
1048093
Registered office
Unit 1 Phoenix Works North Street Lewes East Sussex BN7 2PE
Trustees
Mrs P Parker Mr G V Sims Mr J Timbs Mr N Gossedge Miss S Hinks Mr T Hall Mr N Whines Mr S Zubaidi Mrs C Cuttress Mr D Carter (appointed 21/6/2021)
Company Secretary
M Ryan
Independent Examiner
John Thacker FCA DChA Institute of Chartered Accountants in England and Wales Chariot House Limited Chartered Accountants 44 Grand Parade Brighton
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East Sussex BN2 gQA Page 7
NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS Bankers
The Manager Metrobank One Southampton Row London WC1B 5HA
NatWest 96 Terminus Road Eastbourne BN21 3LX
Virgin Money 170 North Street Brighton BN1 1EA
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Now! Charity Group Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally 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 of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
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.......................................................................... Mr G V Sims - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NOW! CHARITY GROUP LTD
Independent examiner's report to the trustees of Now! Charity Group Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
John Thacker FCA DChA Institute of Chartered Accountants in England and Wales Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex
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BN2 9QA
Date: .............................................
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NOW! CHARITY GROUP LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST DECEMBER 2021
| 2021 2020 Unrestricted Restricted Total Total funds funds funds funds Notes £ £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 98,867 - 98,867 Charitable activities 5 Charitable Activities 402,009 - 402,009 Other trading activities 3 16,090 - 16,090 Investment income 4 1,067 - 1,067 Other income 106,569 - 106,569 Total 624,602 - 624,602 EXPENDITURE ON Raising funds 6 30 - 30 Charitable activities 7 Charitable Activities 556,248 10,000 566,248 Total 556,278 10,000 566,278 NET INCOME/(EXPENDITURE) 68,324 (10,000) 58,324 RECONCILIATION OF FUNDS Total funds brought forward 338,816 10,000 348,816 TOTAL FUNDS CARRIED FORWARD |
2021 2020 Unrestricted Restricted Total Total funds funds funds funds Notes £ £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 98,867 - 98,867 Charitable activities 5 Charitable Activities 402,009 - 402,009 Other trading activities 3 16,090 - 16,090 Investment income 4 1,067 - 1,067 Other income 106,569 - 106,569 Total 624,602 - 624,602 EXPENDITURE ON Raising funds 6 30 - 30 Charitable activities 7 Charitable Activities 556,248 10,000 566,248 Total 556,278 10,000 566,278 NET INCOME/(EXPENDITURE) 68,324 (10,000) 58,324 RECONCILIATION OF FUNDS Total funds brought forward 338,816 10,000 348,816 TOTAL FUNDS CARRIED FORWARD |
2021 Total funds £ - - - - - - - 10,000 10,000 (10,000) 10,000 |
2020 Total funds £ 98,867 402,009 16,090 1,067 106,569 624,602 30 566,248 566,278 58,324 348,816 |
|||
|---|---|---|---|---|---|---|
| Total EXPENDITURE ON Raising funds Charitable activities Charitable Activities |
||||||
| Total | ||||||
| NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward |
||||||
| TOTAL FUNDS CARRIED FORWARD |
The notes form part of these financial statements
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NOW! CHARITY GROUP LTD (REGISTERED NUMBER: 03077894)
BALANCE SHEET 31ST DECEMBER 2021
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | ||||||||
| Restricted | Total | Total | ||||||
| funds | funds | funds | funds | |||||
| Notes | £ | £ | £ | £ | ||||
| FIXED ASSETS | ||||||||
| Tangible assets | 14 | 13,280 | - 13,280 |
4,035 | ||||
| CURRENT ASSETS | ||||||||
| Stocks | 15 | |||||||
| Debtors | 16 | |||||||
| Cash at | bank | 3 | ||||||
| 427,012 | - | 427,012 | 350,612 | |||||
| CREDITORS | ||||||||
| Amounts falling due within one year | 17 | (33,152) | - (33,152) |
(5,831) | ||||
| NET CURRENT ASSETS | 3 | |||||||
| TOTAL ASSETS LESS CURRENT | ||||||||
| LIABILITIES | 407,140 | - 407,140 |
348,816 | |||||
| NET ASSETS | ||||||||
| FUNDS | ||||||||
| Unrestricted | funds | |||||||
| Restricted funds | ||||||||
| TOTAL FUNDS |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the
The notes form part of these financial statements
continued...
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charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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NOW! CHARITY GROUP LTD (REGISTERED NUMBER: 03077894) BALANCE SHEET - continued 31ST DECEMBER 2021
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr G V Sims - Trustee
The notes form part of these financial statements
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NOW! CHARITY GROUP LTD
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2021
| 2021 2020 |
||
|---|---|---|
| Notes | £ £ |
|
| Cash fows from operating activities | ||
| Cashgenerated from operations | 1 | |
| Net cashprovided byoperatingactivities | ||
| Cash fows from investing activities Purchase of tangible fxed assets |
(11,031) (1,847) |
|
| Sale of fxed asset investments | - 1 |
|
| Interest received | 1,067 348 |
|
| Net cash used in investingactivities | ||
| Change in cash and cash equivalents in | ||
| the reporting period | ||
| Cash and cash equivalents at the | ||
| beginning of the reporting period | ||
| Cash and cash equivalents at the end of | ||
| the reporting period |
The notes form part of these financial statements
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NOW! CHARITY GROUP LTD
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2021
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors |
2021 2020 £ £ 58,324 212,364 1,786 1,755 (1,067) (348) (3,497) 3,041 (1,210) 8,246 27,321 (4,655) |
|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1/1/21 Cash fow At |
At 1/1/21 Cash fow At |
31/12/21 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 325,950 | 71,693 | 397,643 |
| 325,950 | 71,693 | 397,643 | |
| Total | 325,950 | 71,693 | 397,643 |
The notes form part of these financial statements
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NOW! CHARITY GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, including taking into account any potential impact of the Covid19 pandemic, and on that basis the charity is considered to be a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to Gift Aid received or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been advised of an impending distribution, the amount is known and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 25% on cost
Tangible fixed assets costing more than £500 are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Recognition and measurement
continued...
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Fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
continued...
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NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
1. ACCOUNTING POLICIES - continued
Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are funds which have been set aside by the Trustees for a specific purpose.
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 the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
| 2021 | 2020 |
|---|---|
| £ | £ |
| Donations | |
| Grants | |
| 98,867 | 181,710 |
continued...
Page 16
NOW! CHARITY GROUP LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 2. DONATIONS AND LEGACIES - continued Grants received, included in the above, are as follows: 3. OTHER TRADING ACTIVITIES 4. INVESTMENT INCOME |
|
|---|---|
continued...
Page 17
NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 5. | INCOME FROM CHARITABLE ACTIVITIES | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Activity | £ | £ | ||
| Shop sales and trai | ||||
| revenues | ||||
| Social fund | ||||
| Syrian Refugee | ||||
| Resettlement | ||||
| 402,009 | 377,628 | |||
| 6. | RAISING FUNDS | |||
| Raising donations and legacies | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Other fundraising | ||||
| 7. | CHARITABLE ACTIVITIES COSTS | |||
| Direct | Support | |||
| Costs (see | costs (see | |||
| note 8) | note 9) | Totals | ||
| £ | £ | £ | ||
| Charitable | Activities | |||
| 8. | DIRECT COSTS OF CHARITABLE ACTIVITIES | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Staf costs | ||||
| Social Fund | ||||
| Syrian Refugee cos | ||||
| Stock purchased | ||||
| Depreciation | ||||
| 364,247 | 352,609 |
continued...
Page 18
NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
9. SUPPORT COSTS 10. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting):
| Management | ||
|---|---|---|
| £ | ||
| Chari | ||
| 2021 | 2020 | |
| £ | £ |
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020.
12. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
2021 2020 £ £ 259,823 262,598 13,027 12,743 4,368 3,736 |
|---|---|
| 277,218 279,077 |
Key Management Personnel remuneration amounted to £42,082 (2020: £43,288). The average monthly number of employees during the year was as follows:
| Total staf No employees received emoluments in excess of £60,000. |
2021 2020 21 17 |
|---|---|
continued...
Page 19
NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total funds funds funds £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 181,710 - Charitable activities Charitable Activities 377,628 - Other trading activities 15,530 - Investment income 348 - Other income 157,364 - Total 732,580 - EXPENDITURE ON Raising funds 165 - Charitable activities Charitable Activities 518,274 1,777 Total 518,439 1,777 NET INCOME/(EXPENDITURE) 214,141 (1,777) RECONCILIATION OF FUNDS Total funds brought forward 124,675 11,777 |
181,710 377,628 15,530 348 157,364 |
|
|---|---|---|
| 732,580 165 520,051 |
||
| 520,216 | ||
| 212,364 136,452 |
continued...
Page 20
NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 14. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Fixtures | ||||
| Freehold | and | |||
| property | fttings | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1st January 2021 | ||||
| Additions | ||||
| At 31st December 2021 | ||||
| DEPRECIATION | ||||
| At 1st January 2021 | ||||
| Charge for | year | |||
| At 31st December 2021 | ||||
| NET BOOK VALUE | ||||
| At 31st December 2021 | ||||
| At 31st December 2020 | ||||
| 15. | STOCKS | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Stocks | ||||
| The charity received donated goods during the year. The Trustees have considered the | ||||
| materiality of the donations received and consider the cost involved in undertaking a | ||||
| valuation of the donated goods for the purpose of inclusion as a stock | item is not | justifed. | ||
| Consequently, donated goods are not included within the stock above. | ||||
| 16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Trade debtors | 951 | 978 | ||
| VAT | 5,463 | 3,008 | ||
| Prepayments and accrued income | 11,326 | 12,544 | ||
| 17,740 | 16,530 |
continued...
Page 21
NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 17. | CREDITORS: AMOUNTS FALLING | DUE WITHIN ONE YEAR | DUE WITHIN ONE YEAR | DUE WITHIN ONE YEAR | |
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| £ | £ | ||||
| Trade creditors | |||||
| Other creditors | |||||
| Accrued expenses | |||||
| 33,152 | 5,831 | ||||
| 18. | LEASING AGREEMENTS | ||||
| Minimum lease payments under non-cancellable operating leases | fall due | as follows: | |||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Within one year | 28,674 | 46,833 | |||
| Between one and fve years | - | 28,674 | |||
| 28,674 | 75,507 | ||||
| 19. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1/1/21 | in funds | 31/12/21 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 338,816 | 68,324 407,140 |
|||
| Restricted funds | |||||
| Sussex Community Foundation | 10,000 | (10,000) - |
|||
| TOTAL FUNDS | |||||
| Net movement in funds, included in the above | are as follows: | ||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 624,602 | (556,278) 68,324 |
|||
| Restricted funds | |||||
| Sussex Community Foundation | - | (10,000) (10,000) |
continued...
Page 22
TOTAL FUNDS Page 22 continued...
NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
19. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1/1/20 | in funds | 31/12/20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 124,675 214,141 |
338,816 | ||
| Restricted funds | ||||
| Tesco Stores Ltd - Eastbourne Ga | ||||
| Tesco Stores Ltd - Hailsham Gard | ||||
| Sussex Community | Foundation | |||
| 11,777 (1,777) |
10,000 |
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement resources expended in funds £ £ £ Unrestricted funds General fund 732,580 (518,439) 214,141 Restricted funds Tesco Stores Ltd - Eastbourne Ga Tesco Stores Ltd - Hailsham Gard - (1,777) (1,777) TOTAL FUNDS
Tesco Stores Ltd - Gardening Grant - Funds to assist our community gardening projects
Sussex Community Foundation - Funds to assist our community activity and work to engage young people
continued...
Page 23
NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
20. EMPLOYEE BENEFIT OBLIGATIONS
The charity operates a defined contribution scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
21. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2021.
Page 24
NOW! CHARITY GROUP LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
| INCOME AND ENDOWMENTS Donations and legacies Other trading activities Other income Investment income Deposit account interest Charitable activities Other income Total incoming resources EXPENDITURE Raising donations and legacies Other fundraising costs Charitable activities Wages Social security Pensions Social Fund Syrian Refugee costs Stock purchased Carried forward |
|
|---|---|
This page does not form part of the statutory financial statements
Page 25
NOW! CHARITY GROUP LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021
Charitable activities Support costs Management
| 2021 2020 |
|---|
| £ £ |
| Brought forward |
| Freehold property |
| Depreciation fxtures & fttings |
| 364,247 352,609 |
| Postage and stationery |
| Sundries |
| Establishment costs |
| Motor and travel |
| Volunteer expenses |
| Recruitment and traini |
| Ofice costs |
| Repairs and maintenan |
| Marketing |
| Legal andprofessional |
| 202,001 167,442 |
| Total resources expended |
| Net income |
This page does not form part of the statutory financial statements
Page 26