Registered charity number: 1058584
Spruse Stevenage Reuse Scheme Report of the trustees, and unaudited financial statements for the year ended
31 March 2024
Coulman Scott LLP 20-22 Wenlock Road, London, N1 7GU
Contents Report of the Trustees
Page 2-4
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024 Independent Examiner’s Report 5-6 Statement of Financial Activities Balance Sheet Notes to the accounts 9-15 Detailed Statement of financial Activities
## Report of the Trustees For the year ended 31 March 2024 Spruse Stevenage Reuse Scheme
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) `Accounting and Reporting by Charities’ effective from January 2015.
1 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024 Reference and administrative details
Registered Charity number: 1058584 Principal address: 2-4 Willows Link Stevenage Hertfordshire SG2 8AR Trustees: David Kissane Resigned 12 September Richard Brooks (Chair) 2023 Jenny Wilson (Secretary) Peter Sharp (Treasurer) Christopher Clark Geraldine Rogers Resigned 12 September 2023 Bernadette Marie Hammick Appointed 12 September Steve Mahoney 2023 Wendy Jackson Appointed 16 January 2024 Appointed 12 September 2023 Appointed 12 September 2023
Independent Examiner: Shelley Coulman FMAAT FCCA Coulman Scott LLP 20-22 Wenlock Road London N1 7GU
## Report of the Trustees (continued) For the year ended 31 March 2024 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.
2 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
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 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 appliances to reduce debt, hardship or distress. The Scheme also works in collaboration with 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 ?
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 way to dispose 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.
As always, the Scheme is only able to continue to provide its much-needed services by the efforts of the dedicated staff, volunteers and trustees who contribute so much of their time and energy. Their hard work and dedication are highly valued as without them the Scheme would be unable to continue and again thanks go to everyone who has been involved. There scheme has been successful in recruiting volunteers and has been able to offer paid employment to a former volunteer. Additionally, the scheme has had some changes with the board of trustees with three new trustees being elected at the AGM. Sadly, during the year a much-loved volunteer had passed and is sorely missed by all.
Some staff changes in the year made recruitment a priority in which the scheme has recruited two new drivers providing more flexibility for absences.
## Report of the Trustees (continued) For the year ended 31 March 2024 Spruse Stevenage Reuse Scheme
Demand for the Scheme’s services has continued to rise throughout the year and discussions were held to consider making an offer to lease the adjoining empty units when these became available. This will require extensive renovations and permission to knock through to incorporate these units with the existing shop. This was discussed with the landlord, Stevenage Borough Council, and terms for a new lease agreed in theory. As the Scheme is still awaiting a formal lease of the existing shop it is hoped that the two can be arranged to run concurrently.
3 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
There have been several repairs to the external structure of the shop by Stevenage Borough Council although one minor addition is still required. There may be an an issue with the roof leaking which had previously been resolved but this will require further monitoring. Additionally, the Scheme has paid for new safety flooring to replace the existing torn flooring in the loading area.
Once again, the Scheme was able to make a generous donation of toys at Christmas to the Toy Shed.
## 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: “idan
## Independent Examiners report to the trustees of Spruse Stevenage Reuse Scheme.
I report on the accounts for the year ended 31 March 2024 set out on pages 8 to 17.
## Registered charity number: 1058584
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Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
Spruse Stevenage Reuse Scheme Report of the trustees, and unaudited financial statements for the year ended
## 31 March 2024
Coulman Scott LLP 20-22 Wenlock Road, London, N1 7GU
|Contents
Report of the Trustees
Independent Examiner’s Report
Statement of Financial Activities
Balance Sheet
Notes to the accounts
Detailed Statement of fnancial Activities|Page
2-4
5-6
7
8
9-15
16|
|---|---|
5 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## Report of the Trustees For the year ended 31 March 2024 Spruse Stevenage Reuse Scheme
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 Resigned 12 September
6 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024 Richard Brooks (Chair) 2023 Jenny Wilson (Secretary) Peter Sharp (Treasurer) Christopher Clark Geraldine Rogers Resigned 12 September Bernadette Marie Hammick 2023 Steve Mahoney Appointed 12 September 2023 Wendy Jackson Appointed 16 January 2024 Appointed 12 September 2023 Appointed 12 September 2023
Independent Examiner: Shelley Coulman FMAAT FCCA Coulman Scott LLP 20-22 Wenlock Road London N1 7GU
## Report of the Trustees (continued) For the year ended 31 March 2024 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 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 appliances to reduce debt, hardship or distress. The Scheme also works in collaboration with 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 ?
7 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
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 way to dispose 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.
As always, the Scheme is only able to continue to provide its much-needed services by the efforts of the dedicated staff, volunteers and trustees who contribute so much of their time and energy. Their hard work and dedication are highly valued as without them the Scheme would be unable to continue and again thanks go to everyone who has been involved. There scheme has been successful in recruiting volunteers and has been able to offer paid employment to a former volunteer. Additionally, the scheme has had some changes with the board of trustees with three new trustees being elected at the AGM. Sadly, during the year a much-loved volunteer had passed and is sorely missed by all.
Some staff changes in the year made recruitment a priority in which the scheme has recruited two new drivers providing more flexibility for absences.
## Report of the Trustees (continued) For the year ended 31 March 2024 Spruse Stevenage Reuse Scheme
Demand for the Scheme’s services has continued to rise throughout the year and discussions were held to consider making an offer to lease the adjoining empty units when these became available. This will require extensive renovations and permission to knock through to incorporate these units with the existing shop. This was discussed with the landlord, Stevenage Borough Council, and terms for a new lease agreed in theory. As the Scheme is still awaiting a formal lease of the existing shop it is hoped that the two can be arranged to run concurrently.
There have been several repairs to the external structure of the shop by Stevenage Borough Council although one minor addition is still required. There may be an an issue with the roof leaking which had previously been resolved but this will require further monitoring. Additionally, the Scheme has paid for new safety flooring to replace the existing torn flooring in the loading area.
Once again, the Scheme was able to make a generous donation of toys at Christmas to the Toy Shed.
## 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.
8 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 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: “idan
Independent Examiners report to the trustees of Spruse Stevenage Reuse Scheme.
9 | P a g e
## Statement of financial Activities
## For the year ended 31 March 2024
||||||2024||2023|
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||Total||Total|
|||Funds|Funds||Funds||Funds|
||Notes|£|£||£||£|
|Incoming resources
||||||||
|Incoming resources generated||||||||
|funds||||||||
|Voluntary Income|3|5,067|286||5,353||7,561|
|Activities for generating funds|3|112,191|13,078||125,269||108,76|
||||||||9|
|Investment Income|3|792||-|792||129|
|Total Incoming resources||118,050|13,364||131,414||116,45|
||||||||9|
|Resources expended||||||||
|Costs of generating funds||||||||
|Fundraising trading: costs of|5|96,007|13,364||109,371||107,36|
|goods sold and other costs|||||||5|
|Net Incoming / (Outcoming)||22,043||-|22,043||9,094|
|resources||||||||
|Reconciliation of funds||||||||
|Total funds brought forward|13|76,595|290||76,885||67,79|
||||||||1|
|Transfer between funds|13|-||-||-|-|
|Total funds carried forward||98,638|290||98,928||76,88|
||||||||5|
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## Balance Sheet
## As at 31 March 2024
||Balance Sheet
As at 31 March 2024|Balance Sheet
As at 31 March 2024|Balance Sheet
As at 31 March 2024|Balance Sheet
As at 31 March 2024|Balance Sheet
As at 31 March 2024|
|---|---|---|---|---|---|
||2024
2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
Notes
£
£
£
£
Fixed Assets
Tangible Fixed Assets
8
2,981
-
2,981
7,74
8
Current Assets
Trade Debtors
9
1,364
-
1,364
693
Prepayments
9
682
-
682
1,747
Cash at bank and in hand
11
95,026
290
Total current assets
97,072
290
97,362
70,13
4
Current Liabilities
Creditors amounts due within one year
10
1,415
-
1,415
997
Total current assets less current
liabilities
95,657
290
95,947
69,13
7
Net assets
98,638
290
98,928
76,88
5
Funds
Unrestricted funds
12
98,638
98,638
76,59
5
Restricted funds
12
290
290
290
Total funds
98,638
290
98,928
76,88
5
95,317
67,694|||||
|||||
||
||Net assets|98,638|290||98,928|
|||||||
||Funds
Unrestricted funds
12
Restricted funds
12
Total funds|98,638
98,638|290|||
|||||
|98,638
290
98,928
|
||||290|||
|||||||
1 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
Notes to the fnancial statements For the year ended 31 March 2024
## 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.
2 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 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.
## Accounting Policies (continued)
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
## 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 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 3 Analysis of Income
|Spruse Stevenage Reuse Scheme
Unaudited Financial
Statements Year Ended 31
March 2024
3 Analysis of Income|Spruse Stevenage Reuse Scheme
Unaudited Financial
Statements Year Ended 31
March 2024
3 Analysis of Income||||
|---|---|---|---|---|
|Unrestricted
funds
Restricted
income
funds
£
£
Donations and legacies
Donations and Gifts
5,067
286
General grants
Donated facilities and services
13,078
Total
5,067
13,364
Other trading activities
Trading Income
112,191
-
Investment income
Interest income
792
-
Total Income
118,050
13,364||2024
||2023|
|||Total
Funds
£
5,353
13,078||Total
Funds
£
6,791
-
94,46
1
129
116,45
9
13,078
19,869|
|||
|112,19
1
792
131,41
4
18,43
1
||
||
||||
## 4 Donated goods, facilities and services
|4 Donated goods, facilities and services|||
|---|---|---|
|Use of property Rent
Rates (Discretionary Charitable relief)
Total|2024
£
10,600
2,579
13,078|2023|
|||£
10,60
0
2,57
9
13,07|
|||8|
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.
4 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 5 Analysis of expenditure
||Unrestricted Restricted
2024 2023 funds
Expenditure on raising funds
£
£
£
Support Costs
Total
96,007
96,007
13,078
13,078
109,37
1
109,37
1|Unrestricted Restricted
2024 2023 funds
Expenditure on raising funds
£
£
£
Support Costs
Total
96,007
96,007
13,078
13,078
109,37
1
109,37
1|Unrestricted Restricted
2024 2023 funds
Expenditure on raising funds
£
£
£
Support Costs
Total
96,007
96,007
13,078
13,078
109,37
1
109,37
1|Unrestricted Restricted
2024 2023 funds
Expenditure on raising funds
£
£
£
Support Costs
Total
96,007
96,007
13,078
13,078
109,37
1
109,37
1|funds|
|---|---|---|---|---|---|
|||||£
109,37
1
109,37
1|£
107,36
5
107,36
5|
|||||||
|||||||
|||
13,078||||
## 6 Details of items of expenditure
|
Fees for the examination of the accounts
|
Independent Examiners Fee|2024|2023|
|---|---|---|---|
|||£|£|
|||||
|||600|600|
## 7 Paid employees
## 7.1 Staff costs
||Salaries and wages
Total stafcosts||2024|2023|
|---|---|---|---|---|
||||£
69,402
69,402|£
63,958
63,958|
||||||
||||||
No employees received emoluments in excess of £60,000. (2023: 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|2024
2023|
||5
5|
## 7.3 Ex gratia payments to employees and others
There were no termination payments were made during the year (2023: £Nil).
5 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 8 Tangible fixed assets
|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets||
|---|---|---|---|---|---|---|---|---|
|Fixtures
Plant and
Motor Vehicles
& Fittings Machinery
Cost
£
£
£||||||||Totals
£
48,02
3
-
-
48,02
3
40,27
4
13,83
0
7,748|
||||||||||
||At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Depreciation charge for the year
Depreciation eliminated on disposal
At 31 March 2024
Net book value
|21,82
7||6,397||19,798|||
|||296
-
22,12
3
21,55
8||-
-
6,397
5,434||-
-
19,798
13,282|||
|||384
21,94
2||720
5,470|||3,959
17,241||
|||2|||||||
||||||||||
||At 31 March 2024||181||243||2,557||
|At 1 April 2023|||269||963|6,516|||
## 9 Debtors and prepayments
||Trade Debtors
Prepayments Total
Debtors|2024
2023|2024
2023|2024
2023|
|---|---|---|---|---|
||||1,364
682
2,046|693
1,747|
||||||
|||||
2,440|
||||||
||||||
## 10 Creditors and accruals due less than 1 year
||Other creditors
Total creditors|2024
2023|2024
2023|2024
2023|
|---|---|---|---|---|
||||1,415
1,415|997
997|
||||||
## 11 Cash at bank and in hand
2024 2023
6 | P a g e
|Spruse Stevenage Reuse Scheme
Unaudited Financial
Statements Year Ended 31
March 2024
Cash at bank and in hand restricted
Cash at bank and in hand unrestricted
Total cash at bank and in hand||||
|---|---|---|---|
|||290
95,026
95,316|290
67,404
67,694|
## 12 Movement in funds
||At 31.03.23
Net movement in funds
At 31.03.24
£
£
£
Unrestricted funds
General fund
76,595
22,043
98,638
Restricted funds
White Stuf
Foundation
290
-
290|
|---|---|
||76,885
22,043
98,928|
Net movement in funds, included in the above are as follows:
|Net movement in funds, included in the above are as follows:|Net movement in funds, included in the above are as follows:|Net movement in funds, included in the above are as follows:||
|---|---|---|---|
|Incoming resources
Resources
expended
£
£
Unrestricted funds
118,050
96,007
Restricted funds
13,364
13,364|||Movement in funds|
||||£|
||||22,043|
||||-|
||131,414|109,371|22,043|
|||||
Donated goods, facilities and services (see note 4) totally £13,078 have been included within restricted funds.
No Grants were received (2023: None)
## 13 Transactions with trustees and related parties
## 13.1 Trustees’ renumeration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2024. (2023: None).
## 13.2 Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024. (2023: None).
7 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 13.3 Transactions with related parties
There has been no related party transaction in the reporting period (2023: None).
## Detailed statement of financial activities for the year ended 31 March 2024
||Incoming resources
Voluntary income
Donations
Rents and Rates in kind (SBC)
Activities for generating fnds
Shop income
Investment income
Deposit account interest
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 Donations|2024|2024|2024|2023|
|---|---|---|---|---|---|
|||£|||£
6,791
13,078
96,461
129
116,459
911
63,958
138
153
2,935
2,595
752
530
18
13,078
1,289
6,825
2,538
216
175
1,664
1,302
133
1,297
6,081
777|
||||5,353|||
||||13,078|||
|||||||
|||112,191||||
|||||792||
|||131,414||||
|||765||||
|||69,402||||
|||-||||
|||187||||
|||2,546||||
|||2,932||||
|||952||||
|||352||||
|||274||||
|||13,452||||
|||741||||
|||4,924||||
|||3,951||||
|||210||||
|||406||||
|||672||||
|||564||||
|||-||||
|||1,385||||
|||5,063||||
|||||593||
8 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024 Total resources expended 109,371 107,365 Net income/(expenditure) 22,043 9,094
9 | P a g e
## Statement of financial Activities
## For the year ended 31 March 2024
||||||2024||2023|
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||Total||Total|
|||Funds|Funds||Funds||Funds|
||Notes|£|£||£||£|
|Incoming resources
||||||||
|Incoming resources generated||||||||
|funds||||||||
|Voluntary Income|3|5,067|286||5,353||7,561|
|Activities for generating funds|3|112,191|13,078||125,269||108,76|
||||||||9|
|Investment Income|3|792||-|792||129|
|Total Incoming resources||118,050|13,364||131,414||116,45|
||||||||9|
|Resources expended||||||||
|Costs of generating funds||||||||
|Fundraising trading: costs of|5|96,007|13,364||109,371||107,36|
|goods sold and other costs|||||||5|
|Net Incoming / (Outcoming)||22,043||-|22,043||9,094|
|resources||||||||
|Reconciliation of funds||||||||
|Total funds brought forward|13|76,595|290||76,885||67,79|
||||||||1|
|Transfer between funds|13|-||-||-|-|
|Total funds carried forward||98,638|290||98,928||76,88|
||||||||5|
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## Balance Sheet
## As at 31 March 2024
||Balance Sheet
As at 31 March 2024|Balance Sheet
As at 31 March 2024|Balance Sheet
As at 31 March 2024|Balance Sheet
As at 31 March 2024|Balance Sheet
As at 31 March 2024|
|---|---|---|---|---|---|
||2024
2023
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
Notes
£
£
£
£
Fixed Assets
Tangible Fixed Assets
8
2,981
-
2,981
7,74
8
Current Assets
Trade Debtors
9
1,364
-
1,364
693
Prepayments
9
682
-
682
1,747
Cash at bank and in hand
11
95,026
290
Total current assets
97,072
290
97,362
70,13
4
Current Liabilities
Creditors amounts due within one year
10
1,415
-
1,415
997
Total current assets less current
liabilities
95,657
290
95,947
69,13
7
Net assets
98,638
290
98,928
76,88
5
Funds
Unrestricted funds
12
98,638
98,638
76,59
5
Restricted funds
12
290
290
290
Total funds
98,638
290
98,928
76,88
5
95,317
67,694|||||
|||||
||
||Net assets|98,638|290||98,928|
|||||||
||Funds
Unrestricted funds
12
Restricted funds
12
Total funds|98,638
98,638|290|||
|||||
|98,638
290
98,928
|
||||290|||
|||||||
1 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
Notes to the fnancial statements For the year ended 31 March 2024
## 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.
2 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 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.
## Accounting Policies (continued)
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
## 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 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 3 Analysis of Income
|Spruse Stevenage Reuse Scheme
Unaudited Financial
Statements Year Ended 31
March 2024
3 Analysis of Income|Spruse Stevenage Reuse Scheme
Unaudited Financial
Statements Year Ended 31
March 2024
3 Analysis of Income||||
|---|---|---|---|---|
|Unrestricted
funds
Restricted
income
funds
£
£
Donations and legacies
Donations and Gifts
5,067
286
General grants
Donated facilities and services
13,078
Total
5,067
13,364
Other trading activities
Trading Income
112,191
-
Investment income
Interest income
792
-
Total Income
118,050
13,364||2024
||2023|
|||Total
Funds
£
5,353
13,078||Total
Funds
£
6,791
-
94,46
1
129
116,45
9
13,078
19,869|
|||
|112,19
1
792
131,41
4
18,43
1
||
||
||||
## 4 Donated goods, facilities and services
|4 Donated goods, facilities and services|||
|---|---|---|
|Use of property Rent
Rates (Discretionary Charitable relief)
Total|2024
£
10,600
2,579
13,078|2023|
|||£
10,60
0
2,57
9
13,07|
|||8|
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.
4 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 5 Analysis of expenditure
||Unrestricted Restricted
2024 2023 funds
Expenditure on raising funds
£
£
£
Support Costs
Total
96,007
96,007
13,078
13,078
109,37
1
109,37
1|Unrestricted Restricted
2024 2023 funds
Expenditure on raising funds
£
£
£
Support Costs
Total
96,007
96,007
13,078
13,078
109,37
1
109,37
1|Unrestricted Restricted
2024 2023 funds
Expenditure on raising funds
£
£
£
Support Costs
Total
96,007
96,007
13,078
13,078
109,37
1
109,37
1|Unrestricted Restricted
2024 2023 funds
Expenditure on raising funds
£
£
£
Support Costs
Total
96,007
96,007
13,078
13,078
109,37
1
109,37
1|funds|
|---|---|---|---|---|---|
|||||£
109,37
1
109,37
1|£
107,36
5
107,36
5|
|||||||
|||||||
|||
13,078||||
## 6 Details of items of expenditure
|
Fees for the examination of the accounts
|
Independent Examiners Fee|2024|2023|
|---|---|---|---|
|||£|£|
|||||
|||600|600|
## 7 Paid employees
## 7.1 Staff costs
||Salaries and wages
Total stafcosts||2024|2023|
|---|---|---|---|---|
||||£
69,402
69,402|£
63,958
63,958|
||||||
||||||
No employees received emoluments in excess of £60,000. (2023: 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|2024
2023|
||5
5|
## 7.3 Ex gratia payments to employees and others
There were no termination payments were made during the year (2023: £Nil).
5 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 8 Tangible fixed assets
|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets|8 Tangible fixed assets||
|---|---|---|---|---|---|---|---|---|
|Fixtures
Plant and
Motor Vehicles
& Fittings Machinery
Cost
£
£
£||||||||Totals
£
48,02
3
-
-
48,02
3
40,27
4
13,83
0
7,748|
||||||||||
||At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Depreciation charge for the year
Depreciation eliminated on disposal
At 31 March 2024
Net book value
|21,82
7||6,397||19,798|||
|||296
-
22,12
3
21,55
8||-
-
6,397
5,434||-
-
19,798
13,282|||
|||384
21,94
2||720
5,470|||3,959
17,241||
|||2|||||||
||||||||||
||At 31 March 2024||181||243||2,557||
|At 1 April 2023|||269||963|6,516|||
## 9 Debtors and prepayments
||Trade Debtors
Prepayments Total
Debtors|2024
2023|2024
2023|2024
2023|
|---|---|---|---|---|
||||1,364
682
2,046|693
1,747|
||||||
|||||
2,440|
||||||
||||||
## 10 Creditors and accruals due less than 1 year
||Other creditors
Total creditors|2024
2023|2024
2023|2024
2023|
|---|---|---|---|---|
||||1,415
1,415|997
997|
||||||
## 11 Cash at bank and in hand
2024 2023
6 | P a g e
|Spruse Stevenage Reuse Scheme
Unaudited Financial
Statements Year Ended 31
March 2024
Cash at bank and in hand restricted
Cash at bank and in hand unrestricted
Total cash at bank and in hand||||
|---|---|---|---|
|||290
95,026
95,316|290
67,404
67,694|
## 12 Movement in funds
||At 31.03.23
Net movement in funds
At 31.03.24
£
£
£
Unrestricted funds
General fund
76,595
22,043
98,638
Restricted funds
White Stuf
Foundation
290
-
290|
|---|---|
||76,885
22,043
98,928|
Net movement in funds, included in the above are as follows:
|Net movement in funds, included in the above are as follows:|Net movement in funds, included in the above are as follows:|Net movement in funds, included in the above are as follows:||
|---|---|---|---|
|Incoming resources
Resources
expended
£
£
Unrestricted funds
118,050
96,007
Restricted funds
13,364
13,364|||Movement in funds|
||||£|
||||22,043|
||||-|
||131,414|109,371|22,043|
|||||
Donated goods, facilities and services (see note 4) totally £13,078 have been included within restricted funds.
No Grants were received (2023: None)
## 13 Transactions with trustees and related parties
## 13.1 Trustees’ renumeration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2024. (2023: None).
## 13.2 Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024. (2023: None).
7 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024
## 13.3 Transactions with related parties
There has been no related party transaction in the reporting period (2023: None).
## Detailed statement of financial activities for the year ended 31 March 2024
||Incoming resources
Voluntary income
Donations
Rents and Rates in kind (SBC)
Activities for generating fnds
Shop income
Investment income
Deposit account interest
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 Donations|2024|2024|2024|2023|
|---|---|---|---|---|---|
|||£|||£
6,791
13,078
96,461
129
116,459
911
63,958
138
153
2,935
2,595
752
530
18
13,078
1,289
6,825
2,538
216
175
1,664
1,302
133
1,297
6,081
777|
||||5,353|||
||||13,078|||
|||||||
|||112,191||||
|||||792||
|||131,414||||
|||765||||
|||69,402||||
|||-||||
|||187||||
|||2,546||||
|||2,932||||
|||952||||
|||352||||
|||274||||
|||13,452||||
|||741||||
|||4,924||||
|||3,951||||
|||210||||
|||406||||
|||672||||
|||564||||
|||-||||
|||1,385||||
|||5,063||||
|||||593||
8 | P a g e
Spruse Stevenage Reuse Scheme Unaudited Financial Statements Year Ended 31 March 2024 Total resources expended 109,371 107,365 Net income/(expenditure) 22,043 9,094
9 | P a g e