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 2022
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 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
THE WOKING COMMUNITY FURNITURE PROJECT (REGISTERED NUMBER: 03254585)
Report of the Trustees for the year ended 31 March 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Business Review
The directors have paid regard to the charity commission guidance on public benefit in setting its aims and objectives.
During the year the project helped 4,042 persons with items of furniture & electrical items, approximately 35% of whom were referred by social services or related organisations.
Tonnage of bulk items collected: 49 tonnes (does not include bric-a-brac). Tonnage disposed of: 9.2 tonnes Total tonnage for claiming Re-use credits: 40.6 tonnes Total volunteers: 20 Total community service: Zero due to COVID restrictions Staff: 4.2 full time equivalents Collections and deliveries were made mainly with the use of the project's own furniture van.
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
Pressure on sales has eased as the influence of Covid-19 has reduced and the project has weathered the restrictions well. As a result, we have been able to look to the future and progress the Medical Moves initiative, staff have been recruited to work on this necessary service to the community. The existing van is getting to the end of its life and we hope to procure a replacement vehicle in the next year. We have also been updating the appearance of both North Road and Chapel Street with new signage. It is hoped that we will be able to have a presence in the Peacocks shopping centre which will improve the awareness of the project as well as bringing new sales. Ideally, we would like to reduce our dependency on grants during the next 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
Page 1
THE WOKING COMMUNITY FURNITURE PROJECT (REGISTERED NUMBER: 03254585)
Report of the Trustees for the year ended 31 March 2022
Registered office
27 North Road Maybury Woking Surrey GU21 5DT
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 BSc (Hons) FCA DChA 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.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Page 2
THE WOKING COMMUNITY FURNITURE PROJECT (REGISTERED NUMBER: 03254585)
Report of the Trustees for the year ended 31 March 2022
........................................................................ D P Heath - Trustee
Page 3
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 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
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
-
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
-
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 BSc (Hons) FCA DChA Tudor John Limited Nightingale House 46-48 East Street Epsom Surrey KT17 1HQ
Date: .............................................
Page 4
THE WOKING COMMUNITY FURNITURE PROJECT
Statement of Financial Activities for the year ended 31 March 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 27,199 Other trading activities 2 86,036 Investment income 3 48 Other income 5,691 Total 118,974 EXPENDITURE ON Raising funds 416 Charitable activities Staff costs 89,205 General costs 18,253 Transport costs - Depreciation of fixed assets 9,245 Other - Total 117,119 NET INCOME/(EXPENDITURE) 1,855 RECONCILIATION OF FUNDS Total funds brought forward 180,170 TOTAL FUNDS CARRIED FORWARD 182,025 |
Restricted funds £ 21,126 - - - 21,126 - 19,982 1,007 3,490 284 - 24,763 (3,637) 16,645 13,008 |
2022 Total funds £ 48,325 86,036 48 5,691 140,100 416 109,187 19,260 3,490 9,529 - 141,882 (1,782) 196,815 195,033 |
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 |
The notes form part of these financial statements
Page 5
THE WOKING COMMUNITY FURNITURE PROJECT (REGISTERED NUMBER: 03254585)
Balance Sheet 31 March 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 8 104,025 CURRENT ASSETS Debtors 9 10,338 Cash at bank 72,195 82,533 CREDITORS Amounts falling due within one year 10 (4,534) NET CURRENT ASSETS 77,999 TOTAL ASSETS LESS CURRENT LIABILITIES 182,024 NET ASSETS 182,024 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 2,869 - 10,140 10,140 - 10,140 13,009 13,009 |
2022 Total funds £ 106,894 10,338 82,335 92,673 (4,534) 88,139 195,033 195,033 182,024 13,009 195,033 |
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 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 ............................................. and were signed on its behalf by:
............................................. D P Heath - Trustee
The notes form part of these financial statements
Page 6
THE WOKING COMMUNITY FURNITURE PROJECT
Notes to the Financial Statements for the year ended 31 March 2022
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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.
continued...
Page 7
THE WOKING COMMUNITY FURNITURE PROJECT
Notes to the Financial Statements - continued for the year ended 31 March 2022
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 |
2022 £ 80,107 3,386 2,543 86,036 2022 £ 48 2022 £ 9,530 - |
2021 £ 37,127 849 1,167 |
|---|---|---|
| 39,143 | ||
| 2021 £ 228 2021 £ 9,372 6 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| Charitable activities | 8 | 8 |
No employees received emoluments in excess of £60,000.
continued...
Page 8
THE WOKING COMMUNITY FURNITURE PROJECT
Notes to the Financial Statements - continued for the year ended 31 March 2022
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 66,249 Other trading activities 39,143 Investment income 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 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 |
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 |
continued...
Page 9
THE WOKING COMMUNITY FURNITURE PROJECT
Notes to the Financial Statements - continued for the year ended 31 March 2022
8. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|
| COST At 1 April 2021 Additions At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Freehold property £ 210,143 - 210,143 98,697 5,787 104,484 105,659 111,446 |
Fixtures and fittings £ 4,159 419 4,578 3,476 355 3,831 747 683 |
Motor vehicles £ 21,559 - 21,559 21,559 - 21,559 - - |
Computer equipment £ 47,351 603 47,954 44,078 3,388 47,466 488 3,273 |
Totals £ 283,212 1,022 |
| 284,234 | |||||
| 167,810 9,530 |
|||||
| 177,340 | |||||
| 106,894 | |||||
| 115,402 |
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors VAT Prepayments and accrued income CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accrued expenses |
2022 £ 4,371 482 5,485 10,338 2022 £ 1,886 1,648 - 1,000 4,534 |
2021 £ 536 468 15,255 |
2021 £ 536 468 15,255 |
|---|---|---|---|
| 16,259 | |||
| 2021 £ 913 1,653 61 6,026 |
|||
| 8,653 |
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
continued...
Page 10
THE WOKING COMMUNITY FURNITURE PROJECT
Notes to the Financial Statements - continued for the year ended 31 March 2022
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 Comparatives for movement in funds Unrestricted funds General fund Sinking fund Restricted funds Restricted general TOTAL FUNDS |
At 1.4.21 £ 150,435 29,735 180,170 16,645 196,815 Incoming resources £ 118,974 21,126 140,100 At 1.4.20 £ 128,433 29,735 158,168 9,231 167,399 |
Net movement At in funds 31.3.22 £ £ 1,854 152,289 - 29,735 1,854 182,024 (3,636) 13,009 (1,782) 195,033 Resources Movement expended in funds £ £ (117,120) 1,854 (24,762) (3,636) (141,882) (1,782) 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 |
|---|---|---|
continued...
Page 11
THE WOKING COMMUNITY FURNITURE PROJECT
Notes to the Financial Statements - continued for the year ended 31 March 2022
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 £ 148,778 17,566 166,344 |
Resources Movement expended in funds £ £ (126,776) 22,002 (10,152) 7,414 (136,928) 29,416 |
|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 12
THE WOKING COMMUNITY FURNITURE PROJECT
Detailed Statement of Financial Activities for the year ended 31 March 2022
| 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 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 Computer equipment |
2022 £ 32,908 15,417 48,325 80,107 3,386 2,543 86,036 48 1,757 3,934 5,691 140,100 416 104,056 2,442 2,689 4,219 3,281 1,769 561 13 621 1,810 3,753 333 3,490 1,800 5,787 354 3,388 140,366 |
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 3,303 |
||
| 135,609 |
This page does not form part of the statutory financial statements
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THE WOKING COMMUNITY FURNITURE PROJECT
| Detailed Statement of Financial Activities for the year ended 31 March 2022 Charitable activities Other Loss on sale of tangible fixed assets Loan Support costs Governance costs Accountancy and legal fees Total resources expended Net (expenditure)/income |
2022 £ - - - 1,100 141,882 (1,782) |
2021 £ 6 232 |
|---|---|---|
| 238 900 |
||
| 136,928 | ||
| 29,416 |
This page does not form part of the statutory financial statements
Page 14