COMPANY REGISTRATION NUMBER: 03307111
CHARITY REGISTRATION NUMBER: 1060902
First Move Furnishaid Ltd Company Limited by Guarantee Unaudited financial statements
30 June 2022
First Move Furnishaid Ltd
Company Limited by Guarantee
Financial statements
Year ended 30 June 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the directors' report) | 1 |
| Independent examiner's report to the trustees | 8 |
| Statement of financial activities (including income and expenditure account) | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 |
First Move Furnishaid Ltd
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report)
Year ended 30 June 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 June 2022.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and 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 published in October 2019.
Reference and administrative details
Registered charity name First Move Furnishaid Ltd Charity registration number 1060902 Company registration number 03307111 Principal office and registered Artillery Drill Hall office Artillery Square Great Yarmouth Norfolk NR30 2LR
The trustees
The trustees who served during the year and at the date of approval were as follows:
P E Page (died 7 March 2023) M A Campbell K Caulder M Lewis Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Bankers The Co-Operative Bank Plc Skelmerdale WN8 6WT
- 1 -
First Move Furnishaid Ltd
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 30 June 2022
Objectives and activities
The principal activity of the charity is that of the provision of recycled furniture and white goods to people on low income across the Borough of Great Yarmouth.
The objects as stated in the Memorandum and Articles of Association are:
-
To relieve poverty in the Borough of Great Yarmouth by supplying, renovating and repairing furniture and such other donated domestic items for such persons who are in conditions of need, hardship or distress;
-
To advance the education of persons who are unemployed or unwaged by providing training in the repair, refurbishment and recycling of donated items of furniture, electrical equipment and household and other goods; and
-
To advance the education of persons who are unemployed or unwaged or in conditions of need by providing appropriate support, IT and other forms of training (that the Trustees may from time to time decide necessary), in order to help them secure future employment.
Public Benefit
The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake in both the current and future years.
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First Move Furnishaid Ltd
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 30 June 2022
Achievements and performance
Review of the year
First Move Furnishaid has over the last year, tried to keep the high quality of service for which it now has a wide reputation but due to Covid 19 it has been very hard. The organisation has two main areas of work:
First Move Furnishaid-reuse and recycling of household goods
The activities undertaken by the charity have been maintained at similar levels over the past year despite Covid 19 and increased competition both for sales and donations. Focusing on white goods and room rental has resulted in a drop in income.
Enquiries and applications for grant support remain high priority and will be especially important in assisting with the maintenance of the building as well as assisting with the provision of services.
In recent years grants have been very hard to find. Due to the pandemic the Trustees continue to manage costs despite greater challenges of competition plus the economic climate and endeavour to deliver a break even budget. There has been a great improvement in the amount of deficit recorded this year.
The number of people visiting the charity this year for household items, furniture, learning activities, CV's, IT courses, bus passes, information, room hire amounted to approximately 2,024.
535 items of bought furniture. 565 were involved in a variety of learning activities.
389 people received specific information.
60 people got help producing a CV.
63 people got careers advice and were referred to other organisations.
122 people took IT courses.
50 people were supported in doing placements with the charity. 65 have received bus passes.
Although fewer this year, the charity has dedicated volunteers who are part of all the charity's work, without their time and input we could not function as we do. The charity is very grateful and thankful for the work they undertake and the time put in to help, it is hoped this will continue in future.
- 2 volunteers (due to the effect Covid 19 has had) have given 840 hours of service - at the minimum wage of £9.18 per hour the worth equates to approximately £7,711
The general public, and others, continue to donate furniture and household items, for reuse or recycle.
3 people served as Trustees during the year 2021 to 2022
As a result of volunteer assistance the charity has been able to reuse and recycle donated items with 950 items being sold of which 111 items were first repaired. The gross weight of recycled items amounted to 28,656.3 tonnes, including electrical goods the weight of which totalled 1,286 tonnes - this was effectively the amount of tonnage saved from going to landfill. Recycling credits amounting to £1,512 were received from Norfolk County Council.
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First Move Furnishaid Ltd
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 30 June 2022
| Item Type | Number Items Weight T / Item F |
Number Items Weight T / Item F |
Number Items Weight T / Item F |
Weight Total Tonnes CO2 Coeficie nt CO2 wt Total Tonnes Saving Value / Item Total UK £ Saving MFA CO2 wt Total Tonnes |
Weight Total Tonnes CO2 Coeficie nt CO2 wt Total Tonnes Saving Value / Item Total UK £ Saving MFA CO2 wt Total Tonnes |
Weight Total Tonnes CO2 Coeficie nt CO2 wt Total Tonnes Saving Value / Item Total UK £ Saving MFA CO2 wt Total Tonnes |
Weight Total Tonnes CO2 Coeficie nt CO2 wt Total Tonnes Saving Value / Item Total UK £ Saving MFA CO2 wt Total Tonnes |
Weight Total Tonnes CO2 Coeficie nt CO2 wt Total Tonnes Saving Value / Item Total UK £ Saving MFA CO2 wt Total Tonnes |
Weight Total Tonnes CO2 Coeficie nt CO2 wt Total Tonnes Saving Value / Item Total UK £ Saving MFA CO2 wt Total Tonnes |
Weight Total Tonnes CO2 Coeficie nt CO2 wt Total Tonnes Saving Value / Item Total UK £ Saving MFA CO2 wt Total Tonnes |
|---|---|---|---|---|---|---|---|---|---|---|
| TV ICT LDA Other electricals Seating and Sofas Beds Other furniture Dining Table Office |
11.00 | 0.02 | 0.22 | 6 | 66 | 100 | £1,100.00 | |||
| 0.00 | 0.01 | 0 | 6 | 0 | 100 | £0.00 | ||||
| 44.00 | 0.06 | 2.64 | 0.8 | 35 | 150 | £6,600.00 | ||||
| 7.00 | 0.05 | 0.35 | 1.4 | 10 | 150 | £1,050.00 | ||||
| 100.00 | 0.042 | 4.2 | 1.25 | 125 | 300 | £30,000.00 | ||||
| 79.00 | 0.03 | 2.37 | 1.1 | 87 | 100 | £7,900.00 | ||||
| 209.00 | 0.03 | 6.27 | 1 | 209 | 80 | £16,720.00 | ||||
| 70.00 | 0.03 | 2.1 | 0.8 | 56 | 50 | £3,500.00 | ||||
| 14.00 | 0.026 | 0.364 | 0.4 | 6 | 41 | £574.00 | ||||
| Total | 534 | 19 | 594 | £67,444.00 | ||||||
| items | tonnes saved | tonnes saved | £ saved byhouseholds | |||||||
This CO2 does not include recycled item we have purchase.
The charity continues to be proud of its achievements as a small local organisation with the commitment of dedicated staff, volunteers and a determined team of Trustees. It is shown through this report that the charity has made a real difference to the quality of life of a lot of people across the communities of the Borough, and in doing so have taken a small step in helping preserve our planet.
The charity greatly values the partnerships it has with other welfare organisations and thanks them for the support they give us in return. We thank Local Authority 'Great Yarmouth Borough Council' for continuing to support us and the following Partner organisations
-
Great Yarmouth College.
-
Adult Education.
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Learning Enhancement.
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Lithuanian Saturday School.
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Great Yarmouth Relief in Need.
-
Norfolk Family Learning Programme.
-
Herring House Trust.
-
St Matthews Housing Trust.
-
Julian Housing.
-
James Paget Hospital.
-
NCC Social Services.
-
Haven.
-
Gorleston Charities.
-
Raise.
-
Great Yarmouth Centre Plus.
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First Move Furnishaid Ltd
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 30 June 2022
Financial review
Income for the year amounted to £196,866 (2021: £146,266) and after deducting expenditure of £199,220 (2021: £154,418), the net expenditure for the year amounted to £2,354 (2021: net expenditure £8,152).
Reserves Policy
The policy the charity is working towards is to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure, this currently amounts to £86,764. This would provide sufficient funds to cover all costs of the charity which may arise.
At the year end the charity had no free reserves with the unrestricted fund having net current liabilities of £5,621 (2021: net current liabilities £19,068). In addition £11,007 was held in restricted funds (2021: £38,932).
Going Concern
Whilst the charity had no free reserves at the year end, the Trustees are satisfied that the charity remains as a going concern as it continues to enjoy a healthy relationship with Norfolk County Council with the Norfolk Assistance Scheme having won a tender to be the preferred supplier for the next three years. The Trustees acknowledge the charity is heavily dependent on this income stream for the ongoing viability of the charity and they are considering options to ensure the long term safe future and custodianship of the charity's operations moving forward.
Investment Policy
In accordance with the Memorandum and Articles of Association, the trustees have the power to invest in the name of the charity such part of the funds as they may see fit.
Plans for future periods
The charity continues research into various avenues for sustainable revenue and is working on improving the inside of the building providing extra storage space and updating the shop within the building.
The Men's Sheds' project is proving to be successful.
A new stock control system has been installed by the Project Manager and is proving to be a great improvement.
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 24 January 1997 and registered as a charity on 4 March 1997. The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company and it is governed under its Articles of Association as amended on 8 April 2010.
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First Move Furnishaid Ltd
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 30 June 2022
Structure, governance and management (continued)
Recruitment and Appointment of Trustees
The trustees are also directors of the company for the purposes of company law. New trustees are appointed on the recommendation of current trustees.
As with other local charities, new Trustees with the necessary experience, requirements and time are proving hard to find especially with the local knowledge of the environment required.
The trustees are actively looking for a new Trustee following the sad passing of Patricia Page.
Trustee Induction and Training
New trustees will be provided with copies of:
-
The Memorandum and Articles of Association;
-
The latest accounts of the charity; and
-
Are encouraged to read Charity Commission guidance notes CC3 - "The Essential Trustee: What you need to know, what you need to do".
In addition trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
As with other local charities, new Trustees with the necessary experience, requirements and time are proving hard to find especially with the local knowledge of the environment required.
Risk Management
The trustees are aware of the requirement to review the risks to which the charity may be exposed.
Organisational Structure
The trustees meet on a monthly basis with the Project Manager of the charity to discuss operational issues as well as being given a financial report. They also make themselves available as and when necessary to advise on day to day matters.
Independent examiner
A resolution to re-appoint M Proctor of Lovewell Blake LLP as independent examiner for the ensuing year will be proposed at the Annual General Meeting.
Small company provisions
This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006.
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First Move Furnishaid Ltd
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 30 June 2022
The trustees' annual report was approved on 19 November 2023 and signed on behalf of the board of trustees by:
K Caulder Trustee
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First Move Furnishaid Ltd
Company Limited by Guarantee
Independent examiner's report to the trustees of First Move Furnishaid Ltd
Year ended 30 June 2022
I report to the charity trustees on my examination of the financial statements of the company for the year ended 30 June 2022 which comprise the statement of financial activities (including income and expenditure account), balance sheet and the related notes.
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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the financial statements 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 company's financial statements 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 - matter of concern identified
In regards to going concern, I would draw attention to the issues highlighted by the Trustees within the annual report and note 3 to the financial statements. I have not identified any other matters in connection with the examination which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
I confirm that no other matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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 financial statements 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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Mark Proctor FCA DChA Independent Examiner
Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
20 November 2023
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First Move Furnishaid Ltd
Company Limited by Guarantee
Statement of financial activities (including income and expenditure account)
Year ended 30 June 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 10,442 | – | 10,442 | – |
| Charitable activities | 6 | 173,944 | 5,858 | 179,802 | 127,109 |
| Other trading activities | 7 | 1,548 | – | 1,548 | 6,169 |
| Investment income | 8 | 3 | – | 3 | 34 |
| Other income | 9 | 5,071 | – | 5,071 | 12,954 |
───────── |
────── |
───────── |
───────── |
||
| Total income | 191,008 | 5,858 | 196,866 | 146,266 | |
═════════ |
══════ |
═════════ |
═════════ |
||
| Expenditure | |||||
| Charitable activities | 10 | (173,775) | (25,445) | (199,220) | (154,418) |
───────── |
─────── |
───────── |
───────── |
||
| Total expenditure | (173,775) | (25,445) | (199,220) | (154,418) | |
═════════ |
═══════ |
═════════ |
═════════ |
||
| Net expenditure before transfer of funds | 17,233 | (19,587) | (2,354) | (8,152) | |
| Transfers between funds | 8,338 | (8,338) | – | – | |
───────── |
─────── |
───────── |
───────── |
||
| Net movement in funds | 25,571 | (27,925) | (2,354) | (8,152) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 14,169 | 38,932 | 53,101 | 61,253 | |
───────── |
─────── |
───────── |
───────── |
||
| Total funds carried forward | 39,740 | 11,007 | 50,747 | 53,101 | |
═════════ |
═══════ |
═════════ |
═════════ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 20 form part of these financial statements.
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First Move Furnishaid Ltd
Company Limited by Guarantee
Balance sheet
30 June 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 15 | 45,361 | 33,237 | ||
| Current assets | |||||
| Stocks | 16 | 2,700 | 4,033 | ||
| Debtors | 17 | 18,078 | 4,390 | ||
| Cash at bank and in hand | 7,898 | 32,839 | |||
─────── |
─────── |
||||
| 28,676 | 41,262 | ||||
| Creditors: Amounts falling due within | |||||
| one year | 18 | (23,290) | (21,398) | ||
─────── |
─────── |
||||
| Net current assets | 5,386 | 19,864 | |||
─────── |
─────── |
||||
| Total assets less current liabilities | 50,747 | 53,101 | |||
─────── |
─────── |
||||
| Net assets | 50,747 | 53,101 | |||
═══════ |
═══════ |
||||
| Funds of the charity | |||||
| Restricted funds | 11,007 | 38,932 | |||
| Unrestricted funds | 39,740 | 14,169 | |||
─────── |
─────── |
||||
| Total charity funds | 20 | 50,747═══════ |
53,101═══════ |
For the year ending 30 June 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 19 November 2023, and are signed on behalf of the board by:
K Caulder Trustee
Company registration number: 03307111
The notes on pages 11 to 20 form part of these financial statements.
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First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements
Year ended 30 June 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Artillery Drill Hall, Artillery Square, Great Yarmouth, Norfolk, NR30 2LR.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Whilst the charity had no free reserves at the year end, the Trustees are satisfied that the charity remains as a going concern as it continues to enjoy a healthy relationship with Norfolk County Council with the Norfolk Assistance Scheme having won a tender to be the preferred supplier for the next three years. The Trustees acknowledge the charity is heavily dependent on this income stream for the ongoing viability of the charity and they are considering options to ensure the long term safe future and custodianship of the charity's operations moving forward.
(c) Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's
purposes.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
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First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
(d) Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
-
Investment income is included when receivable.
-
Income from charitable trading activity is accounted for when earned.
-
Income from grants, where related to performance and specific deliverable, are accounted for as the charity earns the right to consideration by its performance.
-
Furniture and other items donated for resale are included as income within charitable activities when they are sold.
(e) Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
-
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Property improvement | - | 2% straight line |
|---|---|---|
| Fixtures, fittings and equipment | - | 15% reducing balance |
| Motor vehicles | - | 25% reducing balance |
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First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
3. Accounting policies (continued)
(h) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
The fair value of donated stock has not been included in these accounts on the basis that it is impractical to obtain a fair value due to the volume of low-value items received and the absence of detailed stock control systems and records.
(i) Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
(j) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Limited by guarantee
The charity is a company limited by guarantee and does not have share capital. The members have guaranteed that in the event of the charity being wound up during their membership or one year thereafter, each would contribute to the assets of the charity a sum not exceeding £10.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| General donations | 10,442 | 10,442 | – | – |
═══════ |
═══════ |
════ |
════ |
General donations include government funding of £10,000.
- 13 -
First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
6. Charitable activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Furniture sales | 173,173 | – | 173,173 |
| Recycling credits | 771 | – | 771 |
| Grants | – | 5,858 | 5,858 |
───────── |
────── |
───────── |
|
| 173,944 | 5,858 | 179,802 | |
═════════ |
══════ |
═════════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Furniture sales | 111,456 | – | 111,456 |
| Recycling credits | 1,403 | – | 1,403 |
| Grants | – | 14,250 | 14,250 |
───────── |
─────── |
───────── |
|
| 112,859 | 14,250 | 127,109 | |
═════════ |
═══════ |
═════════ |
Government grant income of £6,629 (2021: £15,653) was received during the year.
7. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Room hire | 1,548 | 1,548 | 6,169 | 6,169 |
══════ |
══════ |
══════ |
══════ |
8. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 3 | 3 | 34 | 34 |
════ |
════ |
════ |
════ |
|
| Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Gain on disposal of tangible fixed assets | ||||
| held for charity's own use | 1,295 | 1,295 | – | – |
| Furlough income | 3,776 | 3,776 | 12,954 | 12,954 |
────── |
────── |
─────── |
─────── |
|
| 5,071 | 5,071 | 12,954 | 12,954 | |
══════ |
══════ |
═══════ |
═══════ |
9. Other income
- 14 -
First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
10. Expenditure on charitable activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Purchases | 80,324 | 221 | 80,545 |
| Wages and salaries | 54,546 | 25,224 | 79,770 |
| Motor expenses | 3,567 | – | 3,567 |
| Light, heat and water | 4,394 | – | 4,394 |
| Insurance | 8,068 | – | 8,068 |
| Cleaning | 949 | – | 949 |
| Travel expenses | – | – | – |
| Legal and professional fees | 240 | – | 240 |
| Telephone | 639 | – | 639 |
| Printing, postage and stationery | 600 | – | 600 |
| Depreciation | 5,291 | – | 5,291 |
| Computer and software | 1,114 | – | 1,114 |
| Miscellaneous costs | 10,301 | – | 10,301 |
| Governance costs | 3,742 | – | 3,742 |
───────── |
─────── |
───────── |
|
| 173,775 | 25,445 | 199,220 | |
═════════ |
═══════ |
═════════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Purchases | 61,868 | 34 | 61,902 |
| Wages and salaries | 67,027 | – | 67,027 |
| Motor expenses | 3,355 | – | 3,355 |
| Light, heat and water | 4,872 | – | 4,872 |
| Insurance | 6,173 | – | 6,173 |
| Cleaning | 1,481 | – | 1,481 |
| Travel expenses | 16 | – | 16 |
| Legal and professional fees | 1,830 | – | 1,830 |
| Telephone | 1,124 | – | 1,124 |
| Printing, postage and stationery | 33 | – | 33 |
| Depreciation | 3,337 | – | 3,337 |
| Computer and software | – | – | – |
| Miscellaneous costs | – | – | – |
| Governance costs | 3,268 | – | 3,268 |
───────── |
──── |
───────── |
|
| 154,384 | 34 | 154,418 | |
═════════ |
════ |
═════════ |
|
| Analysis of governance costs: | |||
| Total Funds | Total Funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Independent examination fees | 3,742 | 3,268 | |
══════ |
══════ |
- 15 -
First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
11. Net expenditure
Net expenditure is stated after charging/(crediting):
| Net expenditure is stated after charging/(crediting): | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 5,291 | 3,337 |
| Gains on disposal of tangible fixed assets | (1,295)══════ |
–══════ |
12. Independent examination fees
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 3,742 | 2,928 |
| Tax advisory services | – | 340 |
────── |
────── |
|
| 3,742 | 3,268 | |
══════ |
══════ |
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 74,820 | 63,324 |
| Employers NIC | 3,297 | 2,312 |
| Employer contributions to pension plans | 1,653 | 1,391 |
─────── |
─────── |
|
| 79,770 | 67,027 | |
═══════ |
═══════ |
The average head count of employees during the year was 6 (2021: 6).
No employees received employee benefits of more than £60,000 during the year (2021: No employees).
A total of £13,727 (2021: £13,276) was paid to key management personnel during the year.
14. Trustee remuneration and expenses
Travel costs amounting to £Nil (2021: £20 to one Trustee).
- 16 -
First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
15. Tangible fixed assets
| Fixtures, | ||||
|---|---|---|---|---|
| Property | fittings and | Motor | ||
| improvement | equipment | vehicles | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 July 2021 | 18,374 | 71,319 | 5,800 | 95,493 |
| Additions | – | – | 18,618 | 18,618 |
| Disposals | – | – | (5,800) | (5,800) |
─────── |
─────── |
─────── |
───────── |
|
| At 30 June 2022 | 18,374 | 71,319 | 18,618 | 108,311 |
═══════ |
═══════ |
═══════ |
═════════ |
|
| Depreciation | ||||
| At 1 July 2021 | 3,822 | 54,009 | 4,425 | 62,256 |
| Charge for the year | 368 | 2,448 | 2,475 | 5,291 |
| Transfers | – | – | (4,597) | (4,597) |
─────── |
─────── |
─────── |
───────── |
|
| At 30 June 2022 | 4,190 | 56,457 | 2,303 | 62,950 |
═══════ |
═══════ |
═══════ |
═════════ |
|
| Carrying amount | ||||
| At 30 June 2022 | 14,184 | 14,862 | 16,315 | 45,361 |
═══════ |
═══════ |
═══════ |
═════════ |
|
| At 30 June 2021 | 14,552 | 17,310 | 1,375 | 33,237 |
═══════ |
═══════ |
═══════ |
═════════ |
All fixed assets are used in the management and administration of the charity.
16. Stocks
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Stock | 2,700 | 4,033 |
══════ |
══════ |
Stocks include furniture and white goods purchased for re-sale.
17. Debtors
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 13,395 | – |
| Prepayments | 883 | 590 |
| Other debtors | 3,800 | 3,800 |
─────── |
────── |
|
| 18,078 | 4,390 | |
═══════ |
══════ |
- 17 -
First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
18. Creditors: Amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 14,624 | – |
| Accruals and deferred income | 6,670 | 6,121 |
| Social security and other taxes | 1,512 | 5,277 |
| Other creditors | 484 | 10,000 |
─────── |
─────── |
|
| 23,290 | 21,398 | |
═══════ |
═══════ |
|
| 2022 | 2021 | |
| £ | £ | |
| Deferred income brought forward | – | 14,250 |
| Released during the year | – | (14,250) |
| Deferred during the year | – | – |
──── |
─────── |
|
| Deferred income carried forward | – | – |
════ |
═══════ |
Deferred income relates to grants received in relation to future periods.
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,653 (2021: £1,391).
- 18 -
First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
20. Analysis of charitable funds
Year ended 30 June 2022
| At 30 June | ||||||
|---|---|---|---|---|---|---|
| At | 1 July 2021 | Income | Expenditure | Transfers | 2022 | |
| £ | £ | £ | £ | £ | ||
| Restricted Income Funds | ||||||
| GYBC Fund | 20,674 | – | (19,366) | – | 1,308 | |
| Vehicle replacement | 8,338 | – | – | (8,338) | – | |
| Santander Foundation | 779 | – | – | – | 779 | |
| Awards for All | 4,210 | – | – | – | 4,210 | |
| Kitchen refurbishment | 684 | – | – | – | 684 | |
| Men's sheds | 3,877 | – | (221) | – | 3,656 | |
| Then and Now | 170 | – | – | – | 170 | |
| Artillery Square | 200 | – | – | – | 200 | |
| Kick Start | – | 5,858 | (5,858) | – | – | |
─────── |
────── |
─────── |
────── |
─────── |
||
| 38,932 | 5,858 | (25,445) | (8,338) | 11,007 | ||
| Unrestricted Income Funds | 14,169 | 191,008 | (173,775) | 8,338 | 39,740 | |
─────── |
───────── |
───────── |
────── |
─────── |
||
53,101═══════ |
196,866═════════ |
(199,220)═════════ |
–══════ |
50,747═══════ |
Year ended 30 June 2021
| At 30 June | ||||||
|---|---|---|---|---|---|---|
| At | 1 July 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | ||
| Restricted Income Funds | ||||||
| GYBC Fund | 6,424 | 14,250 | – | – | 20,674 | |
| Vehicle replacement | 8,338 | – | – | – | 8,338 | |
| Santander Foundation | 779 | – | – | – | 779 | |
| Awards for All | 4,210 | – | – | – | 4,210 | |
| Kitchen refurbishment | 684 | – | – | – | 684 | |
| Men's sheds | 3,911 | – | (34) | – | 3,877 | |
| Then and Now | 170 | – | – | – | 170 | |
| Artillery Square | 200 | – | – | – | 200 | |
─────── |
─────── |
──── |
──── |
─────── |
||
| 24,716 | 14,250 | (34) | – | 38,932 | ||
| Unrestricted Income Funds | 36,537 | 132,016 | (154,384) | – | 14,169 | |
─────── |
───────── |
───────── |
──── |
─────── |
||
61,253═══════ |
146,266═════════ |
(154,418)═════════ |
–════ |
53,101═══════ |
The restricted funds represent funds which may include contributions from a number of different funding agencies.
GYBC Fund represents funding towards salary costs.
The vehicle replacement fund relates to income received to replace the van which is used for collecting donated goods for the charity to recycle and to cover subsequent repair costs.
Funding received from the Santander Foundation is used for IT workshops, tuition for basic IT, help with CVs & job searches, concessionary bus passes, food hygiene certificates and the upkeep of facilities.
- 19 -
First Move Furnishaid Ltd
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
The Awards for All funding was received towards a year-long programme of community engagement and outreach activities.
The kitchen refurbishment fund relates to income received to renovate the kitchen which is available for various food and cookery courses.
Funding was received to start up the charity's Men's Shed project.
The Then and Now grant was received from the Heritage Lottery to research names on the plaque of local men killed in action during WW1 and to launch a booklet on the history of the 'Artillery Drill Hall'.
Kick Start funding was received towards salary costs.
The transfer between funds in the year ended 30 June 2022 relates to expenditure used for the purchase of a van.
21. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 45,361 | – | 45,361 |
| Current assets | (5,621) | 11,007 | 5,386 |
─────── |
─────── |
─────── |
|
| Net assets | 39,740 | 11,007 | 50,747 |
═══════ |
═══════ |
═══════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 33,237 | – | 33,237 |
| Current assets | (19,068) | 38,932 | 19,864 |
─────── |
─────── |
─────── |
|
| Net assets | 14,169 | 38,932 | 53,101 |
═══════ |
═══════ |
═══════ |
22. Related parties
There were no related party transactions during the year other than those noted in note 14.
- 20 -