Registered charity number: 1058584
Spruse Stevenage Reuse Scheme Report of the trustees,
and unaudited financial statements for the year ended 31 March 2021
Coulman Scott LLP
20-22 Wenlock Road, London, N1 7GU
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
|Contents
Report of the Trustees
Independent Examiner’s Report
Statement of Financial Activities
Balance Sheet
Notes to the accounts
Detailed Statement of financial Activities|Page
2-4
5-6
7
8
9-15
16|
|---|---|
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
Report of the Trustees For the year ended 31 March 2021 Spruse Stevenage Reuse Scheme
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) `Accounting and Reporting by Charities’ effective from January 2015.
## Reference and administrative details
Registered Charity number: 1058584
Principal address: 2-4 Willows Link Stevenage Hertfordshire SG2 8AR
Trustees: David Kissane Richard Brooks (Chair) Jenny Wilson (Secretary) Lorraine Bell (Vice Chair) June Pease (Treasurer) (Resigned October 2020) Patricia Onya (Elected November 2020) Jacek Swoboda (Elected November 2020)
Independent Examiner: Shelley Coulman FMAAT FCCA Coulman Scott LLP 20-22 Wenlock Road London N1 7GU
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## Report of the Trustees (continued)
For the year ended 31 March 2021 Spruse Stevenage Reuse Scheme
## Structure, Governance and Management
The charity is controlled by its governing document, constitution, and constitutes an unincorporated charity. The trustees are elected by the membership at the AGM.
Spruse Stevenage Reuse Scheme (the Scheme) is administered and managed by the members of the Executive Committee which in addition to the officers and trustees includes advisers from relevant interested organisations in the community.
## Objectives and activities
The objective of Spruse (the Scheme) is to support all residents in Stevenage who are on a low income or in conditions of need by the provision of furniture, electrical white goods and other household accessories to reduce debt, hardship or distress. The scheme also works alongside other agencies helping them to support their clients.
The Scheme was established with the aim of supporting Stevenage residents by making available to them good quality, affordable furniture and large electrical items for a low handling charge. The Scheme continues to provide this unique service by collecting and delivering free of charge suitable items, displaying them in the Scheme’s shop and making them available to both the general public and those on a low income at an affordable handling charge. Those on a proven low income pay a discounted price and approximately 80% of our sales were made to such customers.
Additionally, the Scheme helps to protect the environment by promoting reuse of furniture and electrical items which otherwise are very likely to go to landfill. Donors often comment that this is the only sustainable and affordable alternative to disposing of items that are no longer wanted and our members say that they do not know what they would do without the Scheme.
In carrying out these activities the trustees confirm adherence with the Charity Commission’s guidance on public benefit activities.
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## Report of the Trustees (continued) For the year ended 31 March 2021 Spruse Stevenage Reuse Scheme
In common with other charities and businesses this has been a particularly challenging year for the scheme due to the restrictions and lockdowns imposed by the government due to the Covid19 pandemic. The scheme was closed at the end of March 2020 and re-opened mid June 2020, when it operated on a reduced scale opening only four days a week instead of the previous six, closed again in November and then again in December until June 2021. Throughout this time the scheme was able to continue paying all members of staff their full wages being supported by the government furlough scheme and grants from Stevenage Borough Council. The scheme has also during this time continued to support referrals from Stevenage Community Trust by providing items to people in immediate need, which has also provided an additional source of income.
As always none of this would be possible without the efforts of the staff and volunteers who once again have contributed so much of their time and effort. Regretfully, a few volunteers have not felt able to carry on and new volunteers are still actively sought. Two new trustees also joined the scheme at the AGM in November and are making a positive contribution.
## Reserves Policy
Spruse Stevenage Reuse Scheme reserves policy is in place to protect relevant parties in the unlikely event that the scheme’s income reduces, and the scheme is unable to continue.
## Risk management
The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
On Behalf of the Board: Richard Brooks (Chair)
Date: 30/09/2021
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## Independent Examiners report to the trustees of Spruse Stevenage Reuse Scheme.
I report on the accounts for the year ended 31 March 2021 set out on pages 8 to 16.
## Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
## It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## Basis of the independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
## Independent examiner's statement
The charity’s gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of the Association of Accounting Technicians (ACCA).
I have completed my examination. I confirm that no matter has come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## Independent Examiners report to the trustees of Spruse Stevenage Reuse Scheme. (continued)
- the accounts did 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 material 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. The trustees continue to work on control weaknesses.
Shelley Coulman FCCA FMAAT Coulman Scott LLP The Maytrees 20-22 Wenlock Road London N1 7GU
> Date: 30/09/2021
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## Statement of financial Activities For the year ended 31 March 2021
||2021
2020
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
Notes
£
£
£
£
Incoming resources
Incoming resources
generated funds
Voluntary Income
3
18
21,386
21,404
4,516
Activities for generating funds
3
25,087
13,077
38,164
74,852
Investment Income
3
7
-
7
18
COVID Grant income
3
21,590
23,537
45,128
-|
|---|---|
||Total Incoming resources
46,702
58,000
104,702
79,386
Resources expended
Costs of generating funds
Fundraising trading: costs of
goods sold and other costs
5
(12,501)
(58,000)
(70,501)
(73,179)|
||Net Incoming / (Outcoming)
resources
34,201
-
34,201
6,207
Reconciliation of funds
Total funds brought forward
13
17,229
290
17,519
11,312|
||Transfer between funds
13
-
-
-
-|
||Total funds carried forward
51,430
290
51,720
17,519|
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## Balance Sheet
## As at 31 March 2021
||Unrestricted
Funds
Restricted
Funds
Notes
£
£
Fixed Assets
Tangible Fixed Assets
8
19,838
-
Current Assets
Trade Debtors
9
-
-
Prepayments
9
145
-
Cash at bank and in hand
12
32,402
290|2021
2020
Total
Funds
Total
Funds
£
£
19,838
21,681
-
-
145
324
32,692
16,346|
|---|---|---|
||Total current assets
32,547
290
Current Liabilities
Creditors amounts due within oneyear
10
955
-|32,837
16,670
955
6,293|
||Total assets less current liabilities
51,430
290|51,720
10,377|
||Liabilities more than one year
Creditors amounts due after one year
11
-
-
Net assets
51,430
290|-
14,539
51,720
17,519|
||Funds
Unrestricted funds
13
51,430
Restricted funds
13
290|51,430
17,229
290
290|
||Total funds
51,430
290|51,720
17,519|
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## Notes to the financial statements For the year ended 31 March 2021
## 1 Basis of preparation
## 1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. They have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities, Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS102.
## 1.2 Going Concern
The trustees deem the charity to be a going concern for the next twelve months and will continue to monitor this.
## 2 Accounting Policies
## 2.1 Recognition of income
All income is included within the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Grants and donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
Trading income is recognised at point of sale for both donated and purchased goods.
The charity has the use of two building in which they are not charged rent and claim for an exemption for rates, these are treated as donation of services and facilities and are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## Accounting Policies (continued)
## 2.2 Expenditure and liabilities
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
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.
## 2.3 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 property 10% on cost Plant and Machinery 20% on cost Motor vehicles 20% on cost Office Equipment & IT 33.33% on cost Fixtures & Fittings 25% on cost
## 2.4 Taxation
The charity is exempt from tax on its charitable activities.
## 2.5 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purpose.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements
## 2.6 Reserves Policy
Spruse Stevenage Reuse Scheme reserves policy aims to keep designated funds at a level equal to three months budgeted expenditure with an aim of not falling below six week's budgeted expenditure.
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## 3 Analysis of Income
||Unrestricted
funds
Restricted
income
funds
£
£
Donations and legacies
Donations and Gifts
18
-
General grants
-
21,386
COVID Related Grants
21,590
23,537
Donated facilities and services
-
13,077|2021
2020|
|---|---|---|
|||Total
Funds
Total
Funds
£
£
18
164
21,386
4,352
45,127
13,077
13,078|
||Total
21,608
58,000
Other trading activities
Trading Income
25,087
-
Investment income
Interest income
7
-|79,608
17,594
25,087
61,774
7
18|
||Total Income
46,702
58,000|104,702
79,386|
## 4 Donated goods, facilities and services
|Total Income
46,702
58,000
4 Donated goods, facilities and services|104,702
79,386|
|---|---|
|Use of property Rent
Rates(DiscretionaryCharitable relief)|2021
2020|
||£
£
10,600
10,600
2,579
2,579|
|Total|13,078
13,078|
The scheme run from two units of which no rent is charged, and they take charitable relief and discretionary relief from the rates. This is being treated as a gift in kind.
Donations of services and facilities and are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Donations by way of unpaid volunteers are not recognised in the accounts.
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## 5 Analysis of expenditure
||Unrestricted
funds
Restricted
funds
Expenditure on raising funds
£
£
Support Costs
12,501
58,000|
2021
2020
£
£
70,501
73,179|
|---|---|---|
||Total
12,501
58,000|
70,501
73,179|
## 6 Details of items of expenditure
|6 Details of items of expenditure||
|---|---|
|Fees for the examination of the accounts
Independent Examiner’s Fee|2021
2020|
||£
£|
|||
||450
450|
## 7 Paid employees
## 7.1 Staff costs
|7.1
Staff costs||
|---|---|
|Salaries and wages|2021
2020|
||£
£
41,512
41,702|
|Total staff costs|41,512
41,702|
No employees received emoluments in excess of £60,000. (2020: none)
## 7.2 Average headcount in the year
The average number of employees during the year was as follows
|The average number of employees during the year was as follows||
|---|---|
|Support staff|2021
2020|
||4
4|
## 7.3 Ex gratia payments to employees and others
There were no termination payments were made during the year (2020: £Nil).
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## 8 Tangible fixed assets
||Fixtures &
Fittings
Plant and
Machiner
y
Motor
Vehicles
Totals
£
£
£
£
Cost
At 1 April 2020
20,873
2,892
19,798
43,563|
|---|---|
||Additions
130
3,258
-
3,388
Disposals
-
-
-
-|
||At 31 March 2020
21,003
6,150
19,798
46,951|
||Depreciation
At 1 April 2019
18,677
2,793
412
21,882
Depreciation charge for the year
795
476
3,960
5,231
Depreciation eliminated on disposal
-
-
-
-|
||At 31 March 2020
19,472
3,269
4,372
27113|
||Net book value|
||At 31 March 2021
1,531
2,881
15,426
19,838|
||At 1 April 2020
2,196
99
19,386
21,681|
During the year an activity was undertaken to review the fixed asset register. Assets that were no longer in use or of any value have been removed from the register.
## 9 Debtors and prepayments
|9 Debtors and prepayments||
|---|---|
|Trade Debtors
Prepayments|2021
2020|
||-
-
145
324|
|Total Debtors|145
324|
## 10 Creditors and accruals due less than 1 year
|HMRC
Other creditors|2021
2020|
|---|---|
||-
-
955
6,293|
|Total creditors|955
6,293|
## 11 Creditors and accruals due more than 1 year
|11 Creditors and accruals due more than 1|year|
|---|---|
|Other creditors|2021
2020|
||-
14,539|
|Total creditors|-
14,539|
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
## 12 Cash at bank and in hand
|12 Cash at bank and in hand||
|---|---|
|Cash at bank and in hand restricted
Cash at bank and in hand unrestricted|2021
2020|
||290
290
32,402
16,056|
|Total cash at bank and in hand|32,692
16,346|
## 13 Post balance sheet events
The charity as with all retail business’ were forced to close in March 2020 and a further extensive lockdown in 2021 due to COVID-19 this has had an impact on the operations and the 2021 performance however the charity is well placed to recover and is operating within government guidelines.
## 14 Movement in funds
||At 31.03.20
Net movement in funds
At 31.03.21
£
£
£
Unrestricted funds
General fund
17,229
34,201
51,430
Restricted funds
White Stuff
Foundation
290
-
290
Hertfordshire County
Council
Stevenage Borough
Council
-
-
-|
|---|---|
||290
-
290|
||17,519
34,201
51,720|
Net movement in funds, included in the above are as follows: Transfer of schemed designated funds incorrectly classified as restricted funds.
||Incoming resources|Resources|Movement in funds|
|---|---|---|---|
|||expended||
||£|£|£|
|Unrestricted funds|46,702|(12,501)|34,201|
|Restricted funds|58,000|(58,000)|(-)|
||104,702|(70,501)|34,201|
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
A grant of £2,000 was received in the year from Hertfordshire County Council for the re-branding of which was expended in the year.
Donated goods, facilities and services (see note 4) totally £13,078 have been included within restricted funds.
During the year, £23,537 was received in respect of the Government’s Job Retention Scheme.
## 15 Transactions with trustees and related parties
## 15.1 Trustees’ renumeration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2021. (2020: None).
## 15.2 Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021. (2020: None).
## 15.3 Transactions with related parties
There has been no related party transaction in the reporting period (2020: None).
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2021
|Detailed statement of financial activities for the year ended 31 March 2021
2021
2020
Incoming resources
£
£
Voluntary income
Donations
18
164
Grants
21,386
4,352
Rents and Rates in kind (SBC)
13,077
13,078
COVID Grants
45,127|Detailed statement of financial activities for the year ended 31 March 2021
2021
2020
Incoming resources
£
£
Voluntary income
Donations
18
164
Grants
21,386
4,352
Rents and Rates in kind (SBC)
13,077
13,078
COVID Grants
45,127|Detailed statement of financial activities for the year ended 31 March 2021
2021
2020
Incoming resources
£
£
Voluntary income
Donations
18
164
Grants
21,386
4,352
Rents and Rates in kind (SBC)
13,077
13,078
COVID Grants
45,127|
|---|---|---|
||
Incoming resources
Voluntary income
Donations
Grants
Rents and Rates in kind (SBC)
COVID Grants||
|||£
£
18
164
21,386
4,352
13,077
13,078
45,127|
||Activities for generating finds
Shop income
Investment income
Deposit account interest|25,087
61,774
7
18|
||Total incoming resources
Resources expended Support Costs
Wages
Insurance
Light and heat
Telephone and Internet
Printing, Postage and stationery
Sundries
Rent and Rates
Vehicle running costs
Volunteer costs and canteen
Entertaining
Training and SFRS events
IT costs
Water
Subscriptions
Accountancy
Consultancy and professional fees
Property related costs
Bank Charges and interest
Profit on sale of asset
Depreciation|104,702
61,792
41,512
41,703
2,480
1,681
1,339
2,015
601
661
66
293
295
450
13,078
13,202
2,644
4,057
1,744
1,834
-
336
-
4,875
124
100
25
97
-
-
480
480
672
555
-
442
210
660
-
(800)
5,231
538|
||Total resources expended|71,554
73,179|
||Net income/(expenditure)|70,501
6,207|
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