Registered charity number: 1058584
Spruse Stevenage Reuse Scheme Report of the trustees,
and unaudited financial statements
for the year ended 31 March 2023
Coulman Scott LLP
20-22 Wenlock Road, London, N1 7GU
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
| 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 2-5 6-7 8 9 10-16 17 |
|---|---|
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
Report of the Trustees
For the year ended 31 March 2023
Spruse Stevenage Reuse Scheme
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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) Lorraine Bell (Vice Chair) Resigned September 2022 Jenny Wilson (Secretary) Peter Sharp Christopher Clark
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 2023
Report of the Trustees (continued) For the year ended 31 March 2023
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 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 passing them on to anyone. Those on a proven low income pay a discounted price and approximately 80% of sales were made to such customers.
Additionally, the scheme helps to protect the environment by promoting reuse of items which otherwise are very likely to go to landfill. Donors often comment that this is the only sustainable and affordable to disposing of items that are no longer wanted and customers say that they do not know what they would do without the services of 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 2023
Report of the Trustees (continued) For the year ended 31 March 2023 Spruse Stevenage Reuse Scheme
Once again, Spruse is only able to continue to provide its much-needed services by the highly valued efforts of dedicated staff and volunteers who continue to contribute so much of their time and energy. Without their efforts the scheme would be unable to carry on and as always, thanks go to everyone who has been involved in allowing the scheme to keep running. Unfortunately, some volunteers have not been able to continue and have left the scheme, one to pursue paid employment, but new volunteers continue to be recruited and the scheme has been able to continue to offer paid employment to one individual.
After many discussions and employing the initial services of a qualified solicitor it was decided not to proceed with the change of charitable status from an unincorporated charity to an incorporated charity and the subsequent formalities as it was felt the existing provisions in the unlikely event of the charity having to be dissolved were satisfactory. As a result of this decision, the vice-chair resigned in September and was not replaced.
In December, a donation of £500 in food and £250 in toys was made to the Food Shed and the Toy shed respectively. The scheme continues to donate various baby and child items to this charity. Additionally, a donation was gratefully received from the Lions Club Stevenage.
In January, the scheme featured briefly on the BBC “Morning Live” program as part of their campaign to provide beds for children who needed them. It was hoped this would raise the profile of the scheme and increase donations and usage, as the scheme was subsequently included in the BBC’s charity website.
The scheme also attended two awareness events, the first organised by a local business in conjunction with other Stevenage charities and the second at Stevenage library, both to help promote the scheme and attract new customers and volunteers.
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.
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
Independent Examiners report to the trustees of
Spruse Stevenage Reuse Scheme.
I report on the accounts for the year ended 31 March 2023 set out on pages 8 to 17.
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 Certified Chartered Accountant (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 2023
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 are provided with details of control weakness’ to support them in continuous improvements.
Shelley Coulman FCCA FMAAT Coulman Scott LLP 20-22 Wenlock Road London N1 7GU
Date: 13 September 2023
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
Statement of financial Activities
For the year ended 31 March 2023
| 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds Notes £ £ £ £ Incoming resources Incoming resources generated funds Voluntary Income 3 7,561 - 7,561 12,322 Activities for generating funds 3 95,691 13,078 108,769 88,273 Investment Income 3 129 - 129 3 |
|
|---|---|
| Total Incoming resources 103,381 13,078 116,459 100,604 Resources expended Costs of generating funds Fundraising trading: costs of goods sold and other costs 5 94,287 13,078 107,365 (83,480) |
|
| Net Incoming / (Outcoming) resources 9,094 - 9,094 17,124 Reconciliation of funds Total funds brought forward 13 67,501 290 67,791 50,667 |
|
| Transfer between funds 13 - - - - |
|
| Total funds carried forward 76,595 290 76,885 67,791 |
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
Balance Sheet
As at 31 March 2023
| 2023 2022 Unrestricted Funds Restricted Funds Total Funds Total Funds Notes £ £ £ £ Fixed Assets Tangible Fixed Assets 8 7,748 - 7,748 13,830 Current Assets Trade Debtors 9 693 - 693 769 Prepayments & Accrued Income 9 1,747 - 1,747 443 Cash at bank and in hand 11 67,404 290 67,694 53,540 |
|
|---|---|
| Total current assets 69,844 290 70,134 54,752 Current Liabilities Creditors amounts due within one year 10 997 - 997 791 |
|
| Total current assets less current liabilities 68,847 290 69,137 53,961 |
|
| Net assets 76,595 290 76,885 67,791 |
|
| Funds Unrestricted funds 12 76,595 76,595 67,501 Restricted funds 12 290 290 290 |
|
| Total funds 76,595 290 76,885 67,791 |
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
Notes to the financial statements
For the year ended 31 March 2023
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 2023
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.
Plant and Machinery 25% on cost Motor vehicles 20% on cost Office Equipment & IT 33.33% on cost Fixtures & Fittings 33.33% 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.
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
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.
3 Analysis of Income
| Unrestricted funds Restricted income funds £ £ Donations and legacies Donations and Gifts 6,791 - General grants - - Donated facilities and services - 13,078 |
2023 2022 |
|
|---|---|---|
| Total Funds Total Funds £ £ 6,791 78 - 16,492 13,078 13,078 |
||
| Total 6,791 13,078 Other trading activities Trading Income 96,461 - Investment income Interest income 129 - |
19,869 29,570 94,461 70,953 129 3 |
|
| Total Income 103,381 13,078 |
116,459 100,604 |
4 Donated goods, facilities and services
| 4 Donated goods, facilities and services | |
|---|---|
| Use of property Rent Rates (Discretionary Charitable relief) |
2023 2022 |
| £ £ 10,600 10,600 2,579 2,579 |
|
| Total | 13,078 13,078 |
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
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.
5 Analysis of expenditure
| Unrestricted funds Restricted funds Expenditure on raising funds £ £ Support Costs 94,287 13,078 |
2023 2022 |
|
|---|---|---|
| £ £ 107,365 83,481 |
||
| Total 94,287 13,078 |
107,365 83,481 |
6 Details of items of expenditure
| Fees for the examination of the accounts Independent Examiner’s Fee |
2023 2022 |
|
|---|---|---|
| £ £ |
||
| 600 600 |
||
7 Paid employees
7.1 Staff costs
| 7.1 Staff costs |
|
|---|---|
| Salaries and wages | 2023 2022 |
| £ £ 63,958 49,847 |
|
| Total staff costs | 63,958 49,847 |
No employees received emoluments in excess of £60,000. (2022: none)
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
7.2 Average headcount in the year
The average number of employees during the year was as follows
| he average number of employees during the year was as follows | |
|---|---|
| Support staff | 2023 2022 |
| 5 5 |
7.3 Ex gratia payments to employees and others
There were no termination payments were made during the year (2022: £Nil).
8 Tangible fixed assets
| Fixtures & Fittings Plant and Machinery Motor Vehicles Totals £ £ £ £ Cost |
|
|---|---|
| At 1 April 2022 21,827 6,397 19,798 48,023 Additions - - - - Disposals - - - - |
|
| At 31 March 2023 21,827 6,397 19,798 48,023 |
|
| Depreciation | |
| At 1 April 2022 20,432 4,438 9,322 34,192 Depreciation charge for the year 1,126 996 3,960 5,086 Depreciation eliminated on disposal - - - - |
|
| At 31 March 2023 21,558 5,434 13,282 40,274 |
|
| Net book value | |
| At 31 March 2023 269 963 6,516 7,748 |
|
| At 1 April 2022 1,395 1,959 10,476 13,830 |
9 Debtors and prepayments
| 9 Debtors and prepayments | |
|---|---|
| Trade Debtors Prepayments & Accrued Income |
2023 2022 |
| 693 769 1,747 443 |
|
| Total Debtors | 2,440 1,212 |
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
10 Creditors and accruals due less than 1 year
| HMRC Other creditors |
2023 2022 |
|---|---|
| - - 997 792 |
|
| Total creditors | 997 792 |
11 Cash at bank and in hand
| 11 Cash at bank and in hand | |
|---|---|
| Cash at bank and in hand restricted Cash at bank and in hand unrestricted |
2023 2022 |
| 290 290 67,404 53,250 |
|
| Total cash at bank and in hand | 67,694 53,540 |
12 Movement in funds
| At 31.03.22 Net movement in funds At 31.03.23 £ £ £ Unrestricted funds General fund 67,501 9,094 76,595 Restricted funds White Stuff Foundation 290 - 290 |
|
|---|---|
| 290 - 290 |
|
| 67,791 9,094 76,885 |
Net movement in funds, included in the above are as follows:
| Incoming resources | Resources | Movement in funds | |
|---|---|---|---|
| expended | |||
| £ | £ | £ | |
| Unrestricted funds | 103,381 | (94,287) | 9,094 |
| Restricted funds | 13,078 | (13,078) | (-) |
| 116,459 | (107,365) | 9,094 |
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
Donated goods, facilities and services (see note 4) totally £13,078 have been included within restricted funds.
No Grants were received (2022: £12,244).
No funds were received under the governments job retention scheme (2022: £4,248.
Transactions with trustees and related parties
12.1 Trustees’ renumeration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2023. (2022: None).
12.2 Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023. (2022: None).
12.3 Transactions with related parties
There has been no related party transaction in the reporting period (2022: None).
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2023
Detailed statement of financial activities for the year ended 31 March 2023
| Incoming resources Voluntary income Donations Grants Rents and Rates in kind (SBC) |
2023 2022 |
|
|---|---|---|
| £ £ 6,791 78 - 16,492 13,078 13,078 |
||
| Activities for generating finds Shop income Investment income Deposit account interest |
96,461 70,953 129 3 |
|
| Total incoming resources Resources expended Support Costs Distribution expenses Wages Training Clothing Costs Insurance Light and heat Telephone and Internet Printing, Postage and stationery Sundries Rent and Rates Premises Costs Vehicle running costs Volunteer costs and canteen IT costs Water Accountancy Consultancy and professional fees Subscriptions Bank Charges and interest Depreciation Charitable Donation |
116,459 100,604 911 1,279 63,958 49,847 138 153 414 2,935 2,635 2,595 705 752 623 530 147 18 4 13,078 13,078 1,289 97 6,825 3,778 2,538 2,194 216 146 175 202 1,664 673 1,302 761 133 - 1,297 808 6,081 6,089 777 - |
|
| Total resources expended | 107,365 83,480 |
|
| Net income/(expenditure) 9,094 17,124 |
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