2021-12-31-accounts

			Page
Trustees	report		1-11
Statement	of trustees	responsibilities	12
Independent auditor's		report	13-16
Statement	offinancial	activities	17
Balance sheet			18-19
Statement	of cash flows		25
Notes to	the financial	statements	20-38

Objects &	principal	The company is registered to assist with the relief of poverty:
activities ofthe		Providing access to affordable household items.
charity		Toadvance the development and education of people by	providing opportunitie
		to volunteer and to train, to develop work skills, social skills,			gain wor
		experiences and encourage social integration.
		~ Recycling of furniture which would otherwise be thrown	away and by		advancin
		more sustainable waste management practices.
Providing access to		Within all showrooms, donated goods are offered for sale at secondhand				market
affordable	household	value after they have been quality controlled, sorted, cleaned	and safety	checked.
items
		The company also operates an electrical & gas domestic appliances re-use				facility
		that complies with all WEEE &Gas Safe regulations.
		The company offers free or discounted furniture packages to	individuals	referred
		to them for help and at times of crisis and support.
roviding opportunities		We aim to increase social skills and employment opportunities	by providing
volunteer	&train	volunteers with work-based learning and training.
		Volunteers assist us with a range ofactivities throughout the	organisation		as	well
		as management through our Board ofTrustees.
		Placements opportunities are offered to enhance employability	advancement			and
		rehabilitation ofex-offenders via the Probation Service.
Recycling &waste		The company provides residents of Rhondda Cynon Taf	with a reliable free
management		collection service for household items that are toogoodtowaste. People			can also
		drop items off for re-use. Items received are sorted, cleaned, and tested				before
		being offered for sale within our charity showrooms.
		The company also offers a collection service for re-useable	household		goods, to
		commercial organisation (end-of-line or returned goods).
		The company operates a House Clearance Service to the public,			solicitors,
		landlords and housing associations. This professional, income generating				service
		aims to recycle or re-use the products cleared by working with				partner
		organisations.
		The organisation holds a waste carriers licence and is an Approved and		Authorised
		Transfer Facility (AATF) and an Approved Re-use Centre (ARC).

The trustees	The trustees		have referred to the guidance contained in the Charity Commissions general guidance on public	have referred to the guidance contained in the Charity Commissions general guidance on public	have referred to the guidance contained in the Charity Commissions general guidance on public
benefit.	The		trustees	will continue to consider how planned activities will contribute to the aims and
objectives they have				set.
Significant				All services, including buying from the charity showrooms are open to everyone in order
activities				to maximise the volume of items re-used and	income generated to support the
undertaken			to	charitable aims and objectives ofthis organisation.
further		its
charitable				The organisation has also created its own hardship	budget to cover the costs of stock
purposes		for		provided free of charge to individuals who have no	other means of financial support to
public	benefit			cover the essential items they need.
				We work in partnership with other organisations	that provide emotional or housing
				support (e.g. social services departments, Women's	Aid, drug &alcohol support services,
				churches, mental health groups, etc.) The practical	help provided by this organisation
				enhances the work of its partners, therefore increasing the overall impact of the
				assistance provided.
				Many of the people referred to this organisation for help are in crisis situations without
				any financial support. The organisation helps immediately or as soon as possible to
				people affected by domestic violence and other life	affecting crisis situations.
				The organisation values the contribution received	from its volunteers and strives to
				provide services that help customers and beneficiaries feel positive about the help
				received.
				With high levels of unemployment in the area and	few opportunities for people to gain
				work experience, the organisation is committed to developing its ability to deliver work-
				based learning. The training room and use of ICT equipment and software, gives us the
				opportunity to provide volunteers and placements	with transferable skills to enhance
				their employment opportunities.
				External grants are sought to provide match funding	for our activities.

OR THE	Y&IREN		DE	D3	1DECEMBER2021
FINANCIAL	REVIEW
he impact	of Covid-19			continued into 2021 with Government imposed restrictions meaning that		th
organisation	was placed		into further lockdown for the first 14weeks ofthe year.
During this lockdown,		all		charity showrooms closed to the public and commercial contracts also ceased.		W
ere however able to continue					some partnership working to provide essential furniture and electrical items	o
a referral basis to help those still in need.
II retail and	operational		staff were placed on furlough and the organisation made use ofthe Government's
Employment	retention	scheme			to cover these salary costs.The organisation also benefitted from Welsh
Government	Grants for		non-domestic Rates Relief on our buildings.
he organisation procured				additional commercial and local household clearances which coupled with external
selling agencies boosted			the income for our social enterprise projects for the year.
Income from donations,					A donation from Barclays COVID-19 Community Relief Fund off100,000
legacies and grants					received in 2020was used during the year to assist the organisation through
					the pandemic.
					Income generated from Gift Aid Retail Scheme was f8,612.
					The Service level agreement with RCT Environmental services was
Income from Charitable					maintained atf20,000for the year.
Activities
					Income generated through our charity showrooms from the sales of electrical
					and household items was reduced by a further 5% to f737,903 (2020:
					f776,740) due to reduced trading days in the year because of imposed
					lockdowns.
					Income from Social Enterprise projects increased to f185,503 (2020:f80,264		)
					in the year due to more staff being able to undertake the additional commercial
					and local household property clearances.
					The value of performance related grants was f239,767(2020:f480,265).
					~ f25,000 Lloyds Bank Foundation to support volunteering.
					~ F54,000Welsh Government Non-Domestic Rates Support
					~ f124,247 Government Job Retention Scheme
					~ f36,520 RCTTowns Capital Grant
Expenditure	for Charitable				The organisation completed a review of all its operational costs and made
Activities					savings wherever possible. The total cost of providing Charitable activities reduced in the year tof1,309,376(2020:f1,394,838).
					The organisation increased its salary rate in line with the National Living Wage and with
					support from the Government's Employment retention scheme, all staff were able
					toberetained during the year.
					New items continued to be purchased in order to supply essential furniture &eiectncal
					items to our local council's Housing Advice Centre and also to ensure		a
					selection of items were available to purchase to our customers in-store.
					Included in the above costs for Charitable activities are depreciation costs	of
					f106,053 an increase on the previous year of f96,343 due to the capital
					urchase ofadditional on-site Stora eContainers.
					[3I

RUSTEES REPORT (INCLUDING DIRECTORS' REPORTI OR THE V&IRENDED31 DECEMBER2021	RUSTEES REPORT (INCLUDING DIRECTORS' REPORTI OR THE V&IRENDED31 DECEMBER2021	RUSTEES REPORT (INCLUDING DIRECTORS' REPORTI OR THE V&IRENDED31 DECEMBER2021
FINANCIAL REVIEW (continued)
Net movement	in funds	Grant and donation support received during the year enabled the organisation to show an overall operating surplus on unrestricted funds off51,341.
		A deficit off60,807 in restricted funds this year isafter depreciation has been
		deducted off92,847.
		A f100,000 donation from Barclays Bank in 2020 has been fully allocated
		against expenditure in 2021.
		The unrestricted surplus for the year has enabled the organisation to increase
		its Designated Fund by a further f50,000. The remainder will be retained
		within the General Fund.
Reserves Policy		The organisation aims to retain adequate reserves to fund both fixed assets,
		working capital and closure costs.
		~Wki C
		It is the Trustees view that a working capital reserve amounting to three
		months' expenditure is adequate, f300,000(excluding depreciation).
		f50,000 of the 2021 unrestricted surplus has been allocated to this new
		designated fund. It is the intention to increase this to the desired level as soon
		as isfeasible.
		Qam~gLL
		A designated reserve has been created to cover the costs that would arise if
		the organisation were to see a significant reduction in income that would
		cause it to close. The anticipated costs for this is f100,000 and is now being
		held in a Designated Reserve Fund.
		Free Reserves
		The free reserves i.e., those not tied up in fixed assets and designated funds
		held on 31stDecember 2021amounted toF42,843.
		The trustees are aware of the risks of not having sufficient reserves and the
		reserves policy will be reviewed as part ofour future strategy planning.
Pay Policy for senior staff		The pay of senior staff is reviewed annually by the board of directors. The
		organisation, guided by the board of directors, have adopted a set of
		principles when setting charity staff remuneration so as to achieve a balance
		between fair pay to attract new staff and to keep appropriately qualified staff
		to lead, manage and support or deliver the charity's aims.

Ithough	the Covid-19 pandemic significantly impacted how we operated again in 2021, below is some of th	the Covid-19 pandemic significantly impacted how we operated again in 2021, below is some of th	the Covid-19 pandemic significantly impacted how we operated again in 2021, below is some of th
great work		we have	done, the difference made to the local community and some of the achievements of ou
staff and	volunteers.
Maintaining		6	The partnership working with DHLIDixon Carphone Group has continued to provide
increasing		quality	access to re-usable domestic appliances WEEE.
quantity ofgoods
available			We received commercial donations from IKEA, John Lewis, Airsprung, Starbucks, Bo
			Concept and Gainsborough Beds.
			We also worked with Pare Prison providing Mattresses and flat pack furniture to their
			workshops so that they could be constructed and cleaned ready for sale.
			We continued working in partnership with Play it Again Sport enabling us to have a large
			selection of bargain sports kit available in our Ynyshir showroom.
Local community			Office clearances completed during the year meant that we could supply affordable
support			office furniture to other community groups including Cynon Link and Afan Lodge.
			Our connection with Treorchy Primary school continued with pupils attending our
			Treorchy showroom to sing Carols around the Christmas tree in the courtyard. We also
			donated to them a full-size Billy Bones, Build yourself skeleton.
			Our Treorchy Community space was used during the year by the Rhondda Foodbank to
			give them space to sort and store the foodbank items and also by the Ystradyfodwg Art
			Society when they held their Annual Art Exhibition.
			Free events held during the year were run across all our showrooms including Starbucks
			Cakes, Children's Toys and Children's clothing and wellies.
			f180was raised for BBCChildren in Need when we donated the sales of all deliveries
			on the day to the cause.
			At Christmas, all our showrooms set up a Santa Sleigh around our 12ft Christmas Trees
			so Children could visit and have a lovely Christmas picture taken.
			We donated furniture and other items to local groups and causes, including the Rhondda
			Foodbank, a local Flying Start group, Friends of Treorchy Paddling Pool, the RCT Santa
			appeal, Treorchy Primary School and the Owl Sancuary in Ebbw Vale.
			Over 200 requests for assistance from our referral partners were received during the
			year identifying local individuals and families in need. This included people leaving
			temporary accommodation following homelessness, individuals entedng their first
			tenancy with no financial means, help to a family after a tragic house fire and support to
			ex-offenders from Pare Prison who had worked within the workshops with our stock to
			be rehabilitated back into the community.
			In total, 300 people benefitted with over 1,000 household items supplied from
			toogoodtowaste.

Providing			Volunteer numbers were severely affected by the pandemic however the	Volunteer numbers were severely affected by the pandemic however the	organisation	organisation	organisation
opportunities		to	greatly appreciates the time and support our volunteers	give to the organisation.
volunteer	&train
			86Volunteers completed over 23,000 hours in the year	with 6ofthem finishing		their
			volunteering placement with us to start paid employment.
			We thanked our volunteers throughout the year with regular 'Fish &Chip'		Fridays and
			thank you gifts during National Volunteers Week and at	Christmas.
Recycling	&	waste	668 Tonnes of waste was diverted from landfill in 2021 which equalled		over	110,000
management			re-usable electrical and household items.
			Over 128,000items were collected from local residents	and commercial donators.
			We completed 144 commercial/household Clearance	services which	collected		over
			5,000items.
RISK MANAGEMENT
Risk Review			The board ofdirectors have a risk management strategy	which comprises:
			- An annual review ofthe principal risks and uncertainties that the charity			faces;
			the establishment of new policies, systems and procedures to mitigate those risks
			identified in the annual review; and
			~ The implementation of procedures designed to minimise or manage		any	potential
			impact on the charity should those risks materialise.
			Attention is also focused on non-financial risks by having	a proactive approach		to Health
			&Safety which is managed by a NEBOSH qualified member ofthe organisation.			As	part o
			the induction process all new personnel (paid and unpaid)	receive health &safety
			awareness and manual handling training.

OVID —19	The trustees recognise that Covid-19 will still	have an impact on the
	organisation at least for another year. Budgets	and plans for 2022 will be
	regularly reviewed by the senior management	team and the board oftrustees
	however, atthe time ofapproving these accounts, the organisation		is still doing
	well.
	The dsk register has been updated and still includes Covid-19 as a high-rated
	risk incorporating potential reduction in income sources, impact on staff
	attendance and how our volunteers/staff and	general public react to life during
	and after the current crises.
Increase Accessibility	Look to reopen our Ynyshir store on Saturdays	from January 2022
oluntee ring	Look to re-establish our connections with the	local community and
	organisations that have potential volunteers and placements looking		for work
	based experience or to learn new skills.
	Renewing our Investors in Volunteers Award
aste Minimisation	Continue to maintain afree collection service	for re-useable electrical and
	household items from properties within RCT.
	Look to expand our collection service into areas that neighbor with		RCT.
Reserves	Continue to build the organisations reserves

STRUCTURE, GOVERNANCE	STRUCTURE, GOVERNANCE	&MANAGEMENT (continued)
Vision Statement		Maximise potential —Minimise waste
Mission Statement		toogoodtowaste is committed to changing peoples' lives every day, through
		developing and implementing sustainable Social Enterprises that meet the
		changing needs ofthe communities we serve.
Organisational	Structure	The Chief Executive Officer (CEO) is responsible for the strategic growth
		and vision ofthe organisation, reporting tothe Board of Directors.
		The Finance Manager is responsible for the financial accountability and
		financial analysis, reporting tothe CEO, Treasurer and Finance Committee,
		Other core staff include Retail Manager, Operations Manager, Marketing
		Officer, Workshop Supervisor, Finance Assistant, 4 Domestic Appliance
		Engineers, 7Van Drivers supervisors, 8customer service supervisors,
		Warehouse Supervisor, Logistics Clerk, 2 Bric a Brac supervisors, Electrical
		cleaning supervisor, call centre supervisor and a cleaner.
		In addition to these 33 paid positions, the organisation relies on volunteer
		support from around 15 individuals each day.
Related parties		To identify and assist those people in greatest need the organisation works
		with other Charities, Housing Associations, Community groups and Local
		Authority Social Services Departments, toaccept referrals for free or
		discounted furniture packages.
		There is a Memorandum of Understanding with the Local Authority (LA)
		Environmental Services Department and a partnership agreement with the
		Children's Services Department.
		As part of Reuse Network agreements have been established via
		commercial contracts with DHL and Dixon Group, Airsprung, IKEA
		and John Lewis.
		There is a legal charge on the property (Ynyshir Road, Ynyshir CF390AT) as
		part ofthe Big Lottery/WG Community Asset Transfer Grant.
		There is a legal charge on the property (Horeb Street, Treorchy, CF42 6RU)
		as part ofthe Big Lottery People S Places Grant.

Charity name	Charity name		toogoodtowaste Limited	toogoodtowaste Limited
Registered	numbers		Company Number: 03286173
			Charity Number:	1064588
Registered	office		Ynyshir Road, Porth, CF39OAT.
Other operating		premises	Unit 3Aberaman	Ind. Park, Aberaman,				Aberdare, Rhondda			Cynon Taf, CF44
			6DA
			Units 1&2 Ynyshir Road. Ynyshir,				Porth,		Rhondda Cynon		Taf, CF39	OAT
			Horeb Street, Treorchy,		Rhondda		Cynon		Taf,	CF42 6RU
			Dave Henderson							Chairman
Board ofDirectors and Trustees			Malcolm Gay David Lewis							Vice —Chairman
			Dr. Dafydd Trysts n Davies
			Rhiannon Holtham
			Michael Bryan Lee Foulkes							Resigned 14'" November 2021
			Philip Moss
			Kelvin Jones							Treasurer
			Natasha Lewis
			Rowenna Williams							Appointed	14~ November 2021
Advisors			Auditors
			Azets Audit Services, Chartered			Accountants				&Statutory	Auditors,	Ty Derw,
			Lime Tree Court,	Cardiff Gate		Business			Park,	Cardiff CF23 BAB
			Bankers
			Barclays Bank Pic, Pontypridd,			Rhondda			Cynon Taf. CF374YA
			Solicitors
			Eversheds Sutherland,		1Callaghan		Square, Cardiff. CF10SBT
Key Management			Shaun England		Chief Executive			Officer
			Rhian Edwards		Finance	Manager			&Company Secretary
			Miranda Keen		Retail Manager
			Geraint Davies		Operations		Manager

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
Notes		8	8	8	6		6
Income and endowments	from:
Donations and legacies		13,698		13,698	18,580	125,000	143,580
Charitable activities		946,345	239,767	1,186,112	877,004	480,265	1,357,269
Other trading activities		100		100	1,479		1,479
Sale ofassets					10,240		10,240
Total income		960,143	239,767	1,199,910	907,303	605,265	1,512,568
gg&~ndi ~n:
Charitable activities		908,799	400,577	1,309,376	805,994	588,844	1,394,838
Net income/(expenditure)
for the year/
Net movement in funds		51,344	(160,810)	(109,466)	101,309	16,421	117,730
Fund balances at 1
January 2021		472,824	877,015	1,349,839	371,515	860,594	1,232,109
Fund balances at 31
December 2021		524,168	716,205	1,240,373	472,824	877,015	1,349,839

				2021		2020
			Notes	6
Fixed assets
Tangible assets					1,047,521		1,107,097
Current assets
Stocks			12	7,779		18,032
Debtors			13	53,272		44,658
Cash at bank and in		hand		289,040		340,270
				350,091		402,960
Creditom: amounts		falling due within	14
one year				(123,072)		(160,218)
Net current assets					227,019		242,742
Total assets less current liabilities					1,274,540		1,349,839
Creditors: amounts		falling due after	16
more than one	year				(34,167)
Net assets					1,240,373		1,349,839
Income funds
Restricted funds			18		716,205		877,015
ILBNI t df	d
Designated funds			19	150,000		100,000
General unrestricted		funds		374,168		372,824
					524,168		472,824
					1,240,373		1,349,839

							2021		2020
						Notes	8		E
Cash flows from operating			activities
Cash generated from operations						26		1,080		248,288
Investing	activities
Purchase	oftangible fixed	assets					(46,477)		(1,247)
Proceeds	on disposal oftangible				fixed
assets									10,240
Net cash	(used in)/generated		from
investing	activities							(46,477)		8,993
Financing	activities
Bank financing							(5,833)		50,000
Net cash	(used in)/generated			from
financing	activities							(5,833)		50,000
Net (decrease)/increase		in	cash		and cash
equivalents								(51,230)		307,281
Cash and	cash equivalents	at beginning				ofyear		340,270		32,989
Cash and	cash equivalents		at	end ofyear				289,040		340,270

		Unrestricted	Unrestricted	Restricted	Total
		funds	funds	funds
		2021	2020	2020	2020
		6	6	F	p
Donations and	gifts	13,698	18,580	125,000	143,580
Other trading	activities
				Unrestricted	Unrestricted
				funds	funds
				2021	2020
				8	6
Sundry income					581
Rental income				100	898
Other trading	activities			100	1,479

			2021	2020
			8	8
	Service level agreement		20,000	20,000
	Performance related grants		239,767	480,265
	Household items supplied		740,843	776,740
	Social enterprise projects		185,502	80,264
			1,186,112	1,357,269
	Analysis by fund
	Unrestricted funds		946,345	877,004
	Restricted funds		239,767	480,265
			1,186,112	1,357,269
	Performance related	grants
	Big Lottery - Revenue	Grant		31,051
	Job Retention Scheme		124,247	175,564
	Lloyds Bank Foundation		25,000	25,000
	Blaenau Gwent			20,000
	RN WEEE Fund			25,000
	RCT Rates Grants		54,000	162,000
	Miscellaneous Grants			1,650
	Community Foundation	Wales		15,000
	RCTCBCWelsh Towns		36,520
	Pen YCymoedd Vind	Farm		25,000
	Other
			239,767	480,265
6	Sale ofassets
			Total	Unrestricted
				funds
			2021	2020
			6
	Net gain on disposal oftangible fixed assets			10,240

		2021	2020
		6	6
Staff costs		737,989	790,299
Volunteer costs		38,003	37,345
Transport costs		154,560	133,210
Cost ofgoods		110,237	138,360
		1,040,789	1,099,214
Share ofsupport costs (see note 8)		262,892	290,311
Share ofgovernance	costs (see note 8)	5,695	5,313
		1,309,376	1,394,838
Analysis by fund
Unrestricted funds		908,799	805,994
Restricted funds		400,577	588,844
		1,309,376	1,394,838
Forthe year ended	31 December 2020
Unrestricted funds		805,994
Restricted funds		588,844
		1,394,838

8	Support costa	Support costa
				Support	Governance	2021	2020	Basis of
				costs	costs			allocation
				6
	Depreciation			106,053		106,053	96,343	Staffcosts
	Advertising	and meetings		3,727		3,727	5,377	Staffcosts
	Premises	costs		87,458		87,458	124,356	Staffcosts
	Telephone	and administration		42,521		42,521	43,625	Staffcosts
	Legal and	professional	fees	4,535		4,535	4,183	Staffcosts
	Insurances			11,595		11,595	10,424	Staffcosts
	Bank charges			7,003		7,003	6,003	Staffcosts
	Audit fees				5,695	5,695	5,313	Governance
				262,892	5,695	268,587	295,624
	Analysed	between
	Charitable	activities		262,892	5,695	268,587	295,624

The averag	e n	umber ofemployees, analysed by functio	n was:
			2021	2020
			Number	Number
Charitable	activities		33	32
Governance			2	2
			35
Employment		costs	2021	2020
			6	6
Wages and	salaries		672,443	728,024
Social security		costs	48,623	46,208
Other pension		costs	12,404	11,315
Staff training and expenses			4,519	4,752
			737,989	790,299

Tangible fixed assets			,
		Freehold	Leasehold	Office	Tools and	Total
		property 6	Improvements f	equipment	equipment 8
Cost
At 1 January 2021		1,662,024	7,960	11,805	7,207	1,688,996
Additions		2,296	6,379	37,802		46,477
At 31 December 2021		1,664,320	14,339	49,607	7,207	1,735,473
Depreciation and impairment
At 1 January 2021		559,686	7,960	10,231	4,022	581,899
Depreciation charged	in the year	91,962	851	12,043	1,197	106,053
At 31 December 2021		651,648	8,811	22,274	5,219	687,952
Carrying amount
At 31 December 2021		1,012,672	5,528	27,333	1,988	1,047,521
At 31 December 2020		1,102,338		1,574	3,185	1,107,097

12	Stocks
					2021	2020
						6
	Finished goods and goods for resale				7,779	18,032
13	Debtors
					2021	2020
	Amounts falling due within one year:				6	6
	Trade debtors				2,952	12,383
	Other debtors				2,454	5,554
	Prepayments	and accrued income			47,866	26,721
					53,272	44,658
14	Creditors: amounts		falling due within one year
					2021	2020
				Notes	6	E
	Bank loans			17	10,000	50,000
	Deferred income				17,144	16,715
	Trade creditors				34,170	27,268
	Other creditors				23,147	19,455
	Accruals				38,611	46,780
					123,072	160,218

				2021	2020
Balance brought	forward			16,715	11,227
Income received	in	the year		17,144	16,715
Released to income				(16,715)	(11,227)
Balance carried	forward			17,144	16,715
Creditors: amounts		falling due after more than one year
				2021	2020
			Notes
Bankloans			17	34,167

Loans a	nd overdrafts
		2021	2020
Bank loans		44,167	50,000
Payable	within one year	10,000	50,000
Payable	after one year	34,167

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								Movement
								in funds
						Balance at		Incoming	Balance at		Transfers	Balance at
						1January 2020		resources1	January 2021			31December
												2021
								6		6		6
	Project closure costs					20,000		80,000		100,000	50,000	150,000
						20,000		80,000		100,000	50,000	150,000
	Project closure			- The board recognise		the need to	maintain a reserve			to cover	the closure	costs arising
	from a significant			reduction	in income. The amount		has been increased			by E50,000 in 2021 as a result of
	the surplus		position at the		year end.
20	Analysis	of net assets between funds
				Unrestricted		Restricted		Total	Unrestricted		Restricted	Total
					funds	funds				funds	funds
					2021	2021		2021		2020	2020	2020
					6	6		6		F		F
	Fund balances at 31
	December		2021 are
	represented		by:
	Tangible assets				353,664	693,857		1,047,521		330,082	777,015	1,107,097
	Current assets/
	(liabilities)				204,671	22,348		227,019		142,742	100,000	242,742
	Long term		liabilities		(34,167)			(34,167)
					524,168	716,205		1,240,373		472,824	877,015	1,349,839

under non-cancellable operating leases, which fall due	as follows:
	2021	2020
		6
Within one year	90,513	98,768
Between two and five years	84,748	117,112
	175,261	215,880

26	Cash generated	from	operations			2021	2020
							E
	(Deficit)/surpus for the		year			(109,466)	117,730
	Adjustments for:
	Gain on disposal	oftangible fixed assets					(10,240)
	Depreciation and	impairment oftangible		fixed assets		106,053	96,343
	Movements in working		capital:
	Decrease/(increase) in		stocks			10,253	(9,402)
	(Increase)/decrease in		debtors			(8,614)	13,563
	Increase in creditors					2,425	34,806
	Increase in deferred income					429	5,488
	Cash generated	from	operations			1,080	248,288
27	Analysis ofchanges		in net funds
					At 1January	Cash flows	At 31 December
					2021		2021
					6	6	6
	Cash at bank and	in hand			340,270	(51,230)	289,040
	Loans falling due	within one year			(50,000)	40,000	(10,000)
	Loans falling due	after	more than one year			(34,167)	(34,167)
					290,270	(45,397)	244,873