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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 03254585 (England and Wales) REGISTERED CHARITY NUMBER: 01059139

THE WOKING COMMUNITY FURNITURE PROJECT Unaudited Financial Statements for the Year Ended 31 March 2021

Tudor John Limited Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ

THE WOKING COMMUNITY FURNITURE PROJECT

Contents of the Financial Statements for the year ended 31 March 2021

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 11
Detailed Statement of Financial Activities 12 to 13

THE WOKING COMMUNITY FURNITURE PROJECT (REGISTERED NUMBER: 03254585)

Report of the Trustees for the year ended 31 March 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Business Review

The directors have paid regard to the charity commission guidance on public benefit in setting its aims and objectives.

In terms of outcomes, the project was severely disrupted by the COVID Pandemic, being open for less than five months of the year due to three lockdowns. However, the charity still managed to provide items over the counter for 1674 customers, delivering or collecting larger items of furniture for a further 520 households, or approximately 1263 persons.

The charity collected a total of 23 tonnes of furniture & electrical items The charity employed 19 volunteers Staff: 4.4 full time equivalent

The management committee resolved at a board meeting on 27 May 1998 that cash reserves equivalent to approximately three months operating costs should be held by the charitable company. The committee continues to monitor operations closely in so that, so far as possible, it complies with that resolution.

FUTURE PLANS

This has been an atypical year for the charity due to the impact of COVID-19, being negatively impacted in terms of sales revenue due to lockdowns / reduced footfall, but positively impacted by donations and the government furlough scheme, resulting in a positive net income. Hopefully 2021/22 will see a return to a more stable environment, without impact of any further lockdowns or furloughs. There are no other substantial changes currently anticipated for the coming year

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Principal Activity

The company is a Registered Charity Number 1059139 and is limited by guarantee and so has no share capital. The financial interest of the directors, who are also the members, is limited to the £1 guarantee each given by the members. The principal activity of the company in the year under review was the relief of poverty by supplying furniture and other household goods to those in the Borough of Woking and adjacent areas. Trustees meet regularly to manage the affairs of the organisation.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03254585 (England and Wales)

Registered Charity number

01059139

Registered office

27 North Road Maybury Woking Surrey GU21 5DT

Page 1

THE WOKING COMMUNITY FURNITURE PROJECT (REGISTERED NUMBER: 03254585)

Report of the Trustees for the year ended 31 March 2021

Trustees

Mrs C M Heath R Tinson P Haddow D P Heath R E Luff P Atkins (appointed 21.5.21)

Independent Examiner

H Day Tudor John Limited Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ

Furniture Project Address 27 North Road Maybury Woking Surrey GU21 5DT Banker CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Solicitors M Pender LLB St Marys Ridgway Road Pyrford Woking Surrey GU22 8PR Independent examiner H Day Tudor John Ltd Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ

DIRECTORS' INSURANCE

The company maintains insurance to cover the Directors and officers against liabilities in relation to the company.

7th January 2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ D P Heath - Trustee

Page 2

Independent Examiner's Report to the Trustees of The Woking Community Furniture Project (Registered number: 03254585)

Independent examiner's report to the trustees of The Woking Community Furniture Project ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. 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

  3. 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.

H Day Tudor John Limited Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ Date: .............................................

Page 3

THE WOKING COMMUNITY FURNITURE PROJECT

Statement of Financial Activities for the year ended 31 March 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
66,249
Other trading activities
2
39,143
Investment income
3
228
Other income
43,158
Total
148,778
EXPENDITURE ON
Raising funds
181
Charitable activities
Staff costs
101,480
General costs
14,169
Transport costs
1,713
Depreciation of fixed assets
8,995
Other
238
Total
126,776
NET INCOME/(EXPENDITURE)
22,002
RECONCILIATION OF FUNDS
Total funds brought forward
158,168
TOTAL FUNDS CARRIED FORWARD
180,170		 Restricted
funds
£
17,566
-
-
-
17,566
-
9,300
144
329
379
-
10,152
7,414
9,231
16,645		 2021
Total
funds
£
83,815
39,143
228
43,158
166,344
181
110,780
14,313
2,042
9,374
238
136,928
29,416
167,399
196,815		 2020
Total
funds
£
41,820
85,025
24
3,484
130,353
531
107,946
19,420
2,597
13,817
-
144,311
(13,958)
181,357
167,399

The notes form part of these financial statements

Page 4

THE WOKING COMMUNITY FURNITURE PROJECT (REGISTERED NUMBER: 03254585)

Balance Sheet 31 March 2021

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
8
109,254
CURRENT ASSETS
Debtors
9
16,259
Cash at bank
58,310
74,569
CREDITORS
Amounts falling due within one year
10
(3,653)
NET CURRENT ASSETS
70,916
TOTAL ASSETS LESS CURRENT
LIABILITIES
180,170
NET ASSETS
180,170
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
6,148
-
15,497
15,497
(5,000)
10,497
16,645
16,645		 2021
Total
funds
£
115,402
16,259
73,807
90,066
(8,653)
81,413
196,815
196,815
180,170
16,645
196,815		 2020
Total
funds
£
122,453
7,764
41,765
49,529
(4,583)
44,946
167,399
167,399
158,168
9,231
167,399

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 7th January 2022 ............................................. and were signed on its behalf by:

............................................. D P Heath - Trustee

The notes form part of these financial statements

Page 5

THE WOKING COMMUNITY FURNITURE PROJECT

Notes to the Financial Statements for the year ended 31 March 2021

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS

Tangible fixed assets are stated at cost. Provision for depreciation is made at rates calculated to spread the cost evenly over its useful life.

Freehold Buildings Straight line, over fifty years
Gates, doors, kitchen equipment, drives, similar improvements to
freehold property Straight line, over ten years
Equipment and motor vehicles Straight line, over five years
IT software and hardware Straight line, over three years

TAXATION

The charity is exempt from corporation tax on its charitable activities.

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 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.

Page 6

continued...

THE WOKING COMMUNITY FURNITURE PROJECT

Notes to the Financial Statements - continued for the year ended 31 March 2021

2. OTHER TRADING ACTIVITIES

Shop sales of donated items
Internet sales of donated items
Surrey County Council (Re-use credits)
3.
INVESTMENT INCOME
Deposit account interest
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Deficit on disposal of fixed assets		 2021
£
37,127
849
1,167
39,143
2021
£
228
2021
£
9,372
6		 2020
£
78,286
3,513
3,226
85,025
2020
£
24
2020
£
13,817
-

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

2021 2020
Charitable activities 8 8

No employees received emoluments in excess of £60,000.

continued...

Page 7

THE WOKING COMMUNITY FURNITURE PROJECT

Notes to the Financial Statements - continued for the year ended 31 March 2021

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
28,989
Other trading activities
85,025
Investment income
24
Other income
3,484
Total
117,522
EXPENDITURE ON
Raising funds
531
Charitable activities
Staff costs
103,337
General costs
19,197
Transport costs
2,469
Depreciation of fixed assets
13,817
Total
139,351
NET INCOME/(EXPENDITURE)
(21,829)
Transfers between funds
164,554
Net movement in funds
142,725
RECONCILIATION OF FUNDS
Total funds brought forward
15,443
TOTAL FUNDS CARRIED FORWARD
158,168		 Restricted
funds
£
12,831
-
-
-
12,831
-
4,609
223
128
-
4,960
7,871
(164,554)
(156,683)
165,914
9,231		 Total
funds
£
41,820
85,025
24
3,484
130,353
531
107,946
19,420
2,597
13,817
144,311
(13,958)
-
(13,958)
181,357
167,399

continued...

Page 8

THE WOKING COMMUNITY FURNITURE PROJECT

Notes to the Financial Statements - continued for the year ended 31 March 2021

8. TANGIBLE FIXED ASSETS

Fixtures
Freehold
and
property
fittings
£
£
COST
At 1 April 2020
208,399
3,701
Additions
1,744
583
Disposals
-
(125)
At 31 March 2021
210,143
4,159
DEPRECIATION
At 1 April 2020
92,956
3,267
Charge for year
5,741
328
Eliminated on disposal
-
(119)
At 31 March 2021
98,697
3,476
NET BOOK VALUE
At 31 March 2021
111,446
683
At 31 March 2020
115,443
434
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
VAT
Prepayments and accrued income		 Motor
vehicles
£
21,559
-
-
21,559
21,559
-
-
21,559
-
-		 Computer
equipment
£
47,351
-
-
47,351
40,775
3,303
-
44,078
3,273
6,576
2021
£
536
-
468
15,255
16,259		 Totals
£
281,010
2,327
(125)		 Totals
£
281,010
2,327
(125)
283,212
158,557
9,372
(119)
167,810
115,402
122,453
2020
£
342
700
407
6,315
7,764

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Accrued expenses		 2021
£
913
1,653
61
6,026
8,653		 2020
£
371
1,708
1,278
1,226
4,583

continued...

Page 9

THE WOKING COMMUNITY FURNITURE PROJECT

Notes to the Financial Statements - continued for the year ended 31 March 2021

11. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Sinking fund
Restricted funds
Restricted general
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted general
TOTAL FUNDS		 At 1.4.20
£
128,433
29,735
158,168
9,231
167,399
Incoming
resources
£
148,778
17,566
166,344		 Net
movement
At
in funds
31.3.21
£
£
22,002
150,435
-
29,735
22,002
180,170
7,414
16,645
29,416
196,815
Resources
Movement
expended
in funds
£
£
(126,776)
22,002
(10,152)
7,414
(136,928)
29,416		 At
31.3.21
£
150,435
29,735
180,170
16,645
196,815
29,416

Comparatives for movement in funds

Unrestricted funds
General fund
Sinking fund
Restricted funds
Restricted general
TOTAL FUNDS		 At 1.4.19
£
(14,292)
29,735
15,443
165,914
181,357		 Net
movement
in funds
£
(21,829)
-
(21,829)
7,871
(13,958)		 Transfers
between
funds
£
164,554
-
164,554
(164,554)
-		 At
31.3.20
£
128,433
29,735
158,168
9,231
167,399

continued...

Page 10

THE WOKING COMMUNITY FURNITURE PROJECT

Notes to the Financial Statements - continued for the year ended 31 March 2021

11. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted general
TOTAL FUNDS		 Incoming
resources
£
117,522
12,831
130,353		 Resources
Movement
expended
in funds
£
£
(139,351)
(21,829)
(4,960)
7,871
(144,311)
(13,958)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 11

THE WOKING COMMUNITY FURNITURE PROJECT

Detailed Statement of Financial Activities for the year ended 31 March 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Donations for collections
Other trading activities
Shop sales of donated items
Internet sales of donated items
Surrey County Council (Re-use credits)
Investment income
Deposit account interest
Other income
Other income
Government grants
Total incoming resources
EXPENDITURE
Other trading activities
Marketing and publicity
Charitable activities
Wages
Social security
Pensions
Insurance
Utilities and waste disposal
Telephone
IT costs
Building maintenance and repairs
Consultancy and fees
Subscriptions
Bank and credit card charges
Administrative and other expenses
Workshop and shop equipment
Motor vehicle expenses
Staff and volunteer training and expenses
Freehold property
Fixtures and fittings
Carried forward		 2021
£
76,513
7,302
83,815
37,127
849
1,167
39,143
228
801
42,357
43,158
166,344
181
105,414
2,641
2,725
5,570
1,583
1,583
375
-
26
74
925
2,183
606
2,042
488
5,742
329
132,306		 2020
£
19,377
22,443
41,820
78,286
3,513
3,226
85,025
24
3,484
-
3,484
130,353
531
102,278
3,580
2,088
4,798
3,436
1,682
605
66
26
150
1,388
3,777
736
2,597
1,856
5,728
472
135,263

This page does not form part of the statutory financial statements

Page 12

THE WOKING COMMUNITY FURNITURE PROJECT

Detailed Statement of Financial Activities
for the year ended 31 March 2021
Charitable activities
Brought forward
Motor vehicles
Computer equipment
Other
Loss on sale of tangible fixed assets
Loan
Support costs
Governance costs
Accountancy and legal fees
Total resources expended
Net income/(expenditure)		 2021
£
132,306
-
3,303
135,609
6
232
238
900
136,928
29,416		 2020
£
135,263
4,312
3,305
142,880
-
-
-
900
144,311
(13,958)

This page does not form part of the statutory financial statements

Page 13