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 2022
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 2022
| 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 | 23 |
NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
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 2022. 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 (2) by enabling 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, gender reassignment, age, pregnancy/maternity, 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
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 2022
STRATEGIC REPORT Achievement and performance Charitable activities Highlights from 2022
Furniture Now!
In 2022, Furniture Now supported over 12,500 beneficiaries, providing household savings of over £750,000. Our commitment to reusing furniture and electricals resulted in 280,000 KG of CO2 emissions being saved.
Education & Training
English, Maths, and employability skills training is an important part of our community offer, emphasising our commitment to addressing social exclusion and unemployment. After the COVID-19 pandemic caused these services to be delivered via remote learning in 2020 and 2021, we returned to in person training in 2022. However our Lead Tutor retired in August 2022, causing us to review our training provision for the future, which is still ongoing.
We recruited 16 employees in 2022 under the UK Government Kickstart employment scheme, for 6-month terms. We offered them future employability skills training as a major part of their time with us. And 3 of those on the scheme have continued to work with us in various capacities.
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.
Afghan, Syrian and Ukrainian Refugee Resettlement Project
In 2022 we continued to support multiple Afghan, Syrian and Ukrainian Refugee Resettlement projects. Working in partnership with several local authority areas, our services seek to fully furnish properties identified to assist vulnerable refugees with immediate housing needs.
New Hailsham Store
Our new Hailsham store opened in March 2022, giving us a high street presence. The 4,300 sq ft site provides an expanded version of our Wealden-focused Furniture Now! operations, with 2 floors of furniture and bedding.
Sustainable Communities Fund
In 2022 we launched our new Sustainable Communities Fund. This was 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. £15,000 of grants have been given in liaison with Sussex Community Foundation to support Gladrags Community Costume Resource, Lewes Climate Hub, Green Centre CIS and Tubbs Computer Supplies. In addition 2 micro-grants of £500 each have been given to Lindfield and Robertsbridge Repair Cafes. The board have committed to continuing this Fund in 2023.
Partnerships and Stakeholders
Reuse and Recycling European Social Enterprise Network
For a fourth consecutive year we maintained our membership as a UK representative of RREUSE. Throughout 2022 we have contributed to RREUSE working group meetings..
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
Reuse Network UK
In 2022 we have continued 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. We have contributed to group meetings and attended their annual conference.
Dunelm takeback scheme
Since August 2021 Furniture Now has been involved with a takeback scheme partnership with Dunelm, which has initially focused on the Eastbourne area. Numerous advertising prompts are present at local Dunelm stores 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.
Financial review
Financial position
A deficit of -£9,924 is reported for the year. The retail sites were fully open to the public during 2022, after 2 years of disruption due to COVID-19 pandemic lockdowns. This is reflected in income from charitable activities of £639k being 59% higher than the previous year. However the set-up and increased running costs of the new Hailsham store during 2022, significantly higher new goods sales at a considerable cost of sale compared to donated goods, taking on more Kickstart employees, the £16k of grants given under the Sustainable Communities Fund, and the creation of a new Operations Manager position, have all contributed to an increase in expenditure. In addition we lost the benefit of several government COVID-19 business support schemes that we achieved in 2021. Despite the deficit in 2022 we maintain strong reserves of £397k.
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 regular 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 2022 than in the previous year (25 vs 21). This was largely due to the recruitment of additional employees via the UK Governments Kickstart employment scheme and the creation of a new Operations Manager position.
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
STRATEGIC REPORT
Future plans
The charity was fortunate to come out of the 2 years of the COVID-19 pandemic in a robust financial state. The strong level of unrestricted reserves allowed us to make the decision to expand our presence in Hailsham. Our plans are to continue to grow in a steady state, taking on board our experience with setting up the new Hailsham site, and developing one new site by 2025. We also need to be aware of the plans for the redevelopment of the existing Lewes site, which is likely to necessitate us finding a new retail site in Lewes or its environs by early 2024.
Although we maintain strong reserves, the current cost of living crisis causes significant uncertainty for the future and means that we must remain prudent and careful over levels of expenditure that we incur.
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.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
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 10 July 1995 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 2022
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.
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 Handbook is issued to new Trustees to provide them with sufficient information about the charity to carry out their duties.
The Board of Trustees meet four times a year, one meeting being the Annual General Meeting and Strategy Day. In addition there are 2 Sub-Committees - Finance & Human Resources, and Marketing & Community - which meet on a quarterly basis in advance of the main Board Meeting. The Board develops policy and strategy in conjunction with the senior management team, to ensure the charities compliance with regulation and it monitors performance against the strategy and business plan.
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 re-election by the consent of the remaining trustees.
Day to day management of the organisation is delegated by the Board to the CEO. The Trustees look to management for high quality, well informed advice on which to base decisions about the organisation's objectives, strategy and performance.
Key management remuneration
The charity's trustees are considered as the Board of directors, and the CEO and 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. A new Operations Manager position was created in May 2022. The CEO, Michael Ryan, left the charity in August 2022 and the position has been covered by the Operations Manager pending the appointment of a new CEO in May 2023.
All directors give of their 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.
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2022
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 (resigned 9/9/2022) Mr G V Sims Mr J Timbs (resigned 9/9/2022) Mr N Gossedge Miss S Hinks Mr T Hall (resigned 9/9/2022) Mr N Whines Mr S Zubaidi (resigned 28/6/2022) Mrs C Cuttress Mr D Carter Mr P Powici (appointed 4/4/2023)
Independent Examiner
John Thacker FCA DChA Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS Bankers
NatWest 96 Terminus Road Eastbourne BN21 3LX Metrobank One Southampton Row London WC1B 5HA
Virgin Money 170 North Street Brighton BN1 1EA
Aldermore Bank PLC, Apex Plaza, Forbury Road, Reading RG1 1AX
Redwood Bank, The Nexus Building, Broadway, Letchworth Garden City, Hertfordshire SG6 3TA
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NOW! CHARITY GROUP LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2022
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 4[th] July 2023 and signed on the board's behalf by:
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 2022.
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 member of the 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
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Date: 11th July 2023
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NOW! CHARITY GROUP LTD
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST DECEMBER 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 90,765 Charitable activities 5 Charitable Activities 639,339 Other trading activities 3 12,921 Investment income 4 2,453 Other income - Total 745,478 EXPENDITURE ON Raising funds 6 300 Charitable activities 7 Charitable Activities 755,102 Total 755,402 NET INCOME/(EXPENDITURE) (9,924) RECONCILIATION OF FUNDS Total funds brought forward 407,140 TOTAL FUNDS CARRIED FORWARD 397,216 |
Restricted funds £ - - - - - - - - - - - - |
2022 Total funds £ 90,765 639,339 12,921 2,453 - 745,478 300 755,102 755,402 (9,924) 407,140 397,216 |
2021 Total funds £ 98,867 402,009 16,090 1,067 106,569 |
|---|---|---|---|
| 624,602 | |||
| 30 566,248 |
|||
| 566,278 | |||
| 58,324 348,816 |
|||
| 407,140 |
The notes form part of these financial statements
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NOW! CHARITY GROUP LTD (REGISTERED NUMBER: 03077894)
BALANCE SHEET 31ST DECEMBER 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 15 97,198 CURRENT ASSETS Stocks 16 17,473 Debtors 17 16,312 Cash at bank 305,968 339,753 CREDITORS Amounts falling due within one year 18 (39,735) NET CURRENT ASSETS 300,018 TOTAL ASSETS LESS CURRENT LIABILITIES 397,216 NET ASSETS 397,216 FUNDS 20 Unrestricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - - |
2022 Total funds £ 97,198 17,473 16,312 305,968 339,753 (39,735) 300,018 397,216 397,216 397,216 397,216 |
2021 Total funds £ 13,280 11,629 17,740 397,643 427,012 (33,152) 393,860 407,140 407,140 407,140 407,140 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the 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 2022
The financial statements were approved by the Board of Trustees and authorised for issue on 4[th] July 2023 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 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities 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 |
2022 £ 2,135 2,135 (96,263) 2,453 (93,810) (91,675) 397,643 305,968 |
2021 £ 81,657 81,657 (11,031) 1,067 (9,964) 71,693 325,950 397,643 |
|---|---|---|
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 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in stocks Decrease/(increase) in debtors Increase in creditors Net cash provided by operations |
2022 £ (9,924) 12,346 (2,453) (5,844) 1,428 6,582 2,135 |
2021 £ 58,324 1,786 (1,067) (3,497) (1,210) 27,321 81,657 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1/1/22 | Cash flow | At 31/12/22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 397,643 | (91,675) | 305,968 |
| 397,643 | (91,675) | 305,968 | |
| Total | 397,643 | (91,675) | 305,968 |
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 2022
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.
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, 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to Leasehold - Straight line over 10 years property Fixtures and fittings - 33% on cost and 25% and 50% 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
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 2022
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
| Donations Grants Grants received, included in the above, are as follows: Sussex Community Foundation Henry Smith CAF Kickstart Kent CC Sussex Chamber |
2022 £ 1,618 89,147 |
2021 £ 16,184 82,683 98,867 2021 £ 10,000 5,000 37,731 19,952 10,000 - 82,683 |
|---|---|---|
| 90,765 2022 £ 10,000 - - 64,147 - 15,000 89,147 |
continued...
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NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
| 3. OTHER TRADING ACTIVITIES Other income 4. INVESTMENT INCOME Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Activity Shop sales and training revenues Charitable Activities Social fund Charitable Activities 6. RAISING FUNDS Raising donations and legacies Other fundraising costs 7. CHARITABLE ACTIVITIES COSTS Direct Costs (see note 8) £ Charitable Activities 547,826 |
Grant funding of activities (see note 9) £ 17,668 |
|
|---|---|---|
continued...
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NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
| 8. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Stock purchased Depreciation 9. GRANTS PAYABLE Charitable Activities 10. SUPPORT COSTS Charitable Activities 11. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation Independent Examination |
2022 2021 £ £ 383,706 277,218 151,774 85,243 12,346 1,786 547,826 364,247 2022 2021 £ £ 17,668 - Management £ 189,608 2022 2021 £ £ 12,345 1,786 1,795 1,785 |
|---|---|
12. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
Trustees' expenses
Expenses amounting to £82 were paid to 1 trustee (2021 £nil) in the year.
continued...
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NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
| 13. STAFF COSTS Wages and salaries Social security costs Other pension costs Key Management Personnel remuneration amounted to £42,328 (2021: £42,082). The average monthly number of employees during the year was as follows: Total staff No employees received emoluments in excess of £60,000. 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 98,867 Charitable activities Charitable Activities 402,009 Other trading activities 16,090 Investment income 1,067 Other income 106,569 Total 624,602 EXPENDITURE ON Raising funds 30 Charitable activities Charitable Activities 556,248 Total 556,278 NET INCOME/(EXPENDITURE) 68,324 |
2022 £ 361,276 16,876 5,554 383,706 2022 25 Restricted funds £ - - - - - - - 10,000 10,000 (10,000) |
2021 £ 259,823 13,027 4,368 277,218 2021 21 Total funds £ 98,867 402,009 16,090 1,067 106,569 |
||
|---|---|---|---|---|
| 624,602 | ||||
| 30 566,248 |
||||
| 566,278 | ||||
| 58,324 |
continued...
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NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
| 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ RECONCILIATION OF FUNDS Total funds brought forward 338,816 10,000 TOTAL FUNDS CARRIED FORWARD 407,140 - 15. TANGIBLE FIXED ASSETS Improvements Fixtures to Leasehold and property fittings £ £ COST At 1st January 2022 87,127 7,931 Additions 94,896 1,367 At 31st December 2022 182,023 9,298 DEPRECIATION At 1st January 2022 74,528 7,250 Charge for year 11,429 916 At 31st December 2022 85,957 8,166 NET BOOK VALUE At 31st December 2022 96,066 1,132 At 31st December 2021 12,599 681 16. STOCKS 2022 £ Stocks 17,473 |
14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ RECONCILIATION OF FUNDS Total funds brought forward 338,816 10,000 TOTAL FUNDS CARRIED FORWARD 407,140 - 15. TANGIBLE FIXED ASSETS Improvements Fixtures to Leasehold and property fittings £ £ COST At 1st January 2022 87,127 7,931 Additions 94,896 1,367 At 31st December 2022 182,023 9,298 DEPRECIATION At 1st January 2022 74,528 7,250 Charge for year 11,429 916 At 31st December 2022 85,957 8,166 NET BOOK VALUE At 31st December 2022 96,066 1,132 At 31st December 2021 12,599 681 16. STOCKS 2022 £ Stocks 17,473 |
Total funds £ 348,816 |
|---|---|---|
| 407,140 | ||
| Fixtures and fittings £ 7,931 1,367 9,298 7,250 916 8,166 1,132 681 2022 £ 17,473 |
Totals £ 95,058 96,263 191,321 81,778 12,345 94,123 97,198 13,280 2021 £ 11,629 |
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 justified. Consequently, donated goods are not included within the stock above.
continued...
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NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
| 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors VAT Prepayments and accrued income 18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accrued expenses 19. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: Within one year Between one and five years 20. MOVEMENT IN FUNDS |
2022 £ 6,960 31 9,321 16,312 2022 £ 2,853 32,787 4,095 39,735 |
2021 £ 951 5,463 11,326 |
||
|---|---|---|---|---|
| 17,740 | ||||
| 2021 £ 13,217 17,826 2,109 |
||||
| 33,152 | ||||
| 2021 £ 28,674 - |
||||
| 28,674 | ||||
| Unrestricted funds General fund TOTAL FUNDS |
At 1/1/22 £ 407,140 407,140 |
Net movement in funds £ (9,924) (9,924) |
At 31/12/22 £ 397,216 |
|---|---|---|---|
| 397,216 |
continued...
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NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
20. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 745,478 TOTAL FUNDS 745,478 Comparatives for movement in funds At 1/1/21 £ Unrestricted funds General fund 338,816 Restricted funds Sussex Community Foundation 10,000 TOTAL FUNDS 348,816 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 624,602 Restricted funds Sussex Community Foundation - TOTAL FUNDS 624,602 |
Resources Movement expended in funds £ £ (755,402) (9,924) (755,402) (9,924) Net movement At in funds 31/12/21 £ £ 68,324 407,140 (10,000) - 58,324 407,140 Resources Movement expended in funds £ £ (556,278) 68,324 (10,000) (10,000) (566,278) 58,324 |
|---|---|
Sussex Community Foundation - Funds to assist our community activity and work to engage young people
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NOW! CHARITY GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2022
21. 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.
22. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022.
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