**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:
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
3. 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
4. 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
Page 13
## **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