2022-12-31-accounts

			Page
Trustees report			1-11
Statement of	trustees	responsibilities	12
Independent	auditor's	repor	13-15
Statement of	financial	activities	16
Balance sheet			17-18
Statement of	cash flows
Notes to the	financial	statements	20-36

Objects	&	principal	principal	The company is registered to assist with the relief of poverty:
activities		of	the	~ Providing access to affordable household items.
charity				~ To advance the development and education of people by providing
				opportunities to volunteer and to train, to develop work skills, social skills,
				gain work experiences and encourage social integration.
				~ Recycling of furniture which would otherwise be thrown away and by
				advancin more sustainable waste mana ement ractices.
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
items				checked.
				The company also operates an electrical g gas domestic appliances re-use facility
				that complies with all WEEE &Gas Safe regulations.
				The company offers free ordiscounted furniture packages to individuals referred
				to them for hei and at times of crisis and su ort.
Providing	opportunities			We aim to increase social skills and employment opportunities by providing
tovolunteer		g train		volunteers with work-based learning and training.
				Volunteers assist us with a range of activities 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	and 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 their charity showrooms.
				The company also offers a collection service for re-useable household goods, to
				commercial organisations (end-of-line or returned goods).
				The company operates a Property 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 carders' license and is an Approved and
				Authorised Transfer Facility (AATF) and an Approved Re-use Centre (ARC).

The trustees have	The trustees have	The trustees have	referred to the guidanre contained in the Charity Commissions' general guidance on	referred to the guidanre contained in the Charity Commissions' general guidance on
public benefit. d b' t'		The th	trustees will continue to consider how planned activities will contribute to the aims h t,
Significant				All services, including buying from the charity showrooms are open to everyone
activities				in order to maxirnise the volume of items re-used and income generated to
undertakento				support the chadtable aims and objectives ofthis organisation.
further its
charitable				The organisation has also created its own hardship budget to cover the costs of
purposes	for			stock provided free ofcharge to individuals who have no other means of financial
public benefit				support to 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 fx 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
				situabons.
				The organisation values the contdbution 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 expedence, 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.

Below	is some of	the great work we have done, the difference made to the local community	and some of	and some of
the achievements		ofour staff and volunteers.
Maintaining		The partnership working with DHL / Dixon Carphane Group has	continued
gr increasing		to provide access to re-usable domestic appliances'WEEE,
quality	grquantity
ofgoods available		We received commercial donations fram IKEA, John l.ewis, Airsprung,	Relyon,
		Asda, BoConcept. David Phillips and Spectrum Healthcare.
		We also worked with Parr Prisons workshops where they provided	mattress
		cleaning, electrical PA'T Testing, upcycling offurniture as well as building flat pack
		furniture.
Local		Commercial office clearances completed for Halfords, Reach, BBIand	others during
community		the year meant that we could supply office furniture to our local community		at
support-		affordable prices whilst also diverting from landfill.
		Our connection with Treorchy Primary srhool continued where we supplied them
		with free books during the year and pupils attended our Treorchy showroom ta		sing
		Carols around the Christmas tree in the courtyard.
		Our Treorchy Community space was used during the year by:
		Rhandda Radio as their second recording studio
		Love Treorchy as office space and additional storage space urithin		our
		warehouse
		Rhondda Foodbank to sort and stare the faodbank items
		Pen-Y-Cymoedd Wind Farm Community Fund.
		A number of free events were held during the year across all our showraorns
		including free toys for children at half term holidays.
		At Christmas, ag 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 Radio, Aberkenfig Welfare Society Foodbank, Penygraig Boys and Girls
		club, Arts Community Church, Repair Cafe Cardiff, Bethel Baptist Church, Ysgol
		Gynradd Gymraeg Ferndale, Cefn Forest Primary School and Ysgol Nantgwyn
		Tonypandy.
		Over 170 requests for assistance from our referral partners were	also received
		during the year identifying lacal individuals and families in need.	This included
		people leaving temporary accommodation following homelessness,	individuals
		entering their first tenancy with no financial means or families requiring assistance
		with essential living furniture due to change in circumstances. Suppart was		also
		given to refugees being housed within the local area.

ACHIEVEMENTS AND PERFORMANCE CONTINUED-	ACHIEVEMENTS AND PERFORMANCE CONTINUED-	ACHIEVEMENTS AND PERFORMANCE CONTINUED-	ACHIEVEMENTS AND PERFORMANCE CONTINUED-
Providing			Volunteer numbers are still reduced since the Covid-19 pandemic however the
opportunities		to	organisation greatly appreciates the time and support our volunteers give to the
volunteer	Ik	train	organisation,
			119Volunteers completed over 26,000 hours in the year with 7 of them finishing
			their volunteering placement with us to start paid employment.
			In 2022, we also welcomed 11 young people aged between 16-24 into the
			organisation to complete 6 months paid employment. 5 Customer Services
			assistants and 6Warehouse assistants were able to gain valuable work experience
			as part of Governments Kickstart Scheme.
			Wethanked all our volunteers throughout the year with regular 'Fish Ix Chip' Fridays
			and thank you gifts during National Volunteers Week and had a further celebration
			at Christmas.
Recycling g management		waste	1,065 Tonnes of waste(161,000 re-useable electrical and household items) was diverted from landfill in 2022 an increase of397tonnes on the previous year.
			During the year our van teams collected over 180,000 items from local residents and commercial donators. We also completed 214 commercial/household
			Clearance senrices which collected over 6,000 items.

Following	on from a few challenging and unsettling years since Covid-19, the organisation was then	on from a few challenging and unsettling years since Covid-19, the organisation was then	on from a few challenging and unsettling years since Covid-19, the organisation was then
affected	by	a cost of living crisis during the year however we are pleased to report that we were able			to
complete	a	full trading year in 2022.
			A donation from Barratt Developments forE1,500was used to purchase 2
income from			defibrillators.
donations	and
legacies			Income generated from Gift Aid Relrnli Scheme stas E8,550
Income from			. c The Servire level agreement with RCTi'&Es(vjytlnmental services was maintained		at
Charitable			E20,000for the year.
Activities
			Income generated through our charity showrooms from the sales of electrical	and
			household items increased by 30K to E960,446 as the result of a full trading year
			and no imposed lockdowns for Covid-19.
			Income from Social Enterprise projects increased toE225,659(2021:E185,503		) 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 F88,380(2021:E239,767).
			~ E12,000Welsh Government Non-Domestic Rates Support
			~ E76,380Government Kickstart Scheme to provide paid work experience for
			11young people.
Expenditure		for	The organisation continued to review its operational costs and made savings
Charitable			wherever possible. The total cost of providing Charitable activities in the year	was
Activities			E1,377,477(2021:E1,309,376).
			The organisation increased its salary rate in line with the National Living Wage	and
			with support from the Government's Kickstart Scheme, was able to give paid
			employment to11young people for 6 months,
			New items continued to be purchased in order to supply essential furniture		6
			electrical items to our local council's Housing Advice Centre and other referral
			partners.
			During the Covid-19 pandemic, the Charity took the opportunity to apply for a	loan
			under the Government backed Bounce Back Scheme and repayments of this	loan
			started in 2022.
			Included in the above costs for Charitable activities are depreciation costs		of
			E63,130an decrease on the previous year ofE106,052 as some capital assets		am
			now full de reciated.
Net movement in			The organisation shows a deficit on unrestricted funds for the year ofE19,S31,
nds			this includes depreciation of assets ofE14,377.
			A deficit of E48753 in restricted funds this year is due to depreciation of
			capital assets.

Reserves Policy	Reserves Policy		The organisation aims to retain adequate reserves to fund both fixed
			assets, working capital and closure costs.
			W~ki C
			It is the Trustees view that a working capitalreserve amounting to three
			months' expenditure is adequate, f300,000(exduding depreciation). This fund currently stands atfS0,000and was not increased in 2022. It is
			the intention to increase this to the desired level as soon as is feasible.
			Closure Costs
			A designated reserve has been created to cover the costs that would arise
			ifthe organisation were to see a significant reduction in income that would
			cause ittoclose.The anticipated costs for this isf100,000and 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 31st December 2022 amounted to E35,248.
			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 sta	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.

Vision Statement	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 of the communities we serve.
Organisational	Structure	The Chief Executive Officer (CEO) is responsible for the strategic growth
		and vision ofthe organisation, reporting to the Board of Directors.
		The Finance Manager is responsible for the financial accountability and
		financial analysis, reporting to the CEO, Treasurer and Finance
		Committee.
		The Retail Manager and Operations Manager are responsible for the day
		to day sales activffies and operational processes in ag ofthe branches.
		The management team is supported a Finance Officer, Marketing
		Officer, Workshop Supervisor, Finance Assistant, 4 Domestic Appliance
		Engineers, 7Van Drivers supervisors, 8customer service supervisors,
		Warehouse Supervisor, Logistics Clerk, 2 Brica Brac supervisors,
		Electrical cleaning supervisor, call centre supervisor and a cleaner.
		In addition to these 33paid positions, the organisation relies on
		volunteer support from around 15individuals each day.
Related parties		To identify and assist those people in greatest need the organisation
		workswith other Charities, Housing Associations, Community groups
		and Local Authority Social Services Departments, to accept referrals	for
		free or discounted furniture packages.
		There isa 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, irsprung, IKEA and
		John Lewis.
		There is a legal charge on the property lynyshir Road, Ynyshir CF390AT)
		as part ofthe Big Lottery/WG Community Asset Transfer Grant. Dated
		9~March 2012
		There isa legal charge on the property (Horeb Street, Treorchy, CF42 6RU) as part of the Big Lottery People &Places Grant. Dated 1a
		February 2018

Charity name	Charity name	taogoadtowaste	Limited	Limited
Registered	numbers	Company Number:		03286173
		Charity Number:		1064588
Registered	office	Ynyshir Road, Porth, CF39OAT.
Other operating		Unit 3Aberaman	ind, Park, Aberarnan,					Aberdare,			Rhondda		Cynan Taf, CF44
premises		6DA
		Units 16 2Ynyshir		Road. Ynyshir,			Parth,		Rhondda		Cynon	Taf, CF39OAT
		Hareb Street, Treorchy,			Rhondda		Cynon		Taf, CF42 6RU
		Dave Henderson									Chairman
Board ofDirectors and Trustees		Malcolm Gay Kelvin Jones									Vice —Chairman Treasurer
		David Lewis
		Dr. Dafydd Trystan		Davres
		Michael Bryan
		Philip Moss
		Natasha Lewis
		Rowenna Williams
		Rhiannon Holtham									Resigned		2S'"July 2023
Advisors		Auditors
		Azets Audit Services, Chartered				Accountants 6				Statutory		Auditors, Ty Derw,
		Lime Tree Court,	Cardiff		Gate	Business			Park, Cardiff CF238AB
		Bankers
		Barclays Bank Pic, Pontypridd,				Rhondda			Cynon	Taf.CF374YA
		Solidtors
		Geldards LLP,4	Capital		Quarter,		Tyndall		Street, Cardiff.			CF104BZ
Key Management		Shaun England Rhian Edwards			Chief Executive Officer Finance Ivlanager6 Company							Secretary
		Miranda Way			Retail		Manager
		Geraint Davies			Operations			Manager

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
		Notes	2022 f	2022f	2022 f	2021 f	2021 f	2021f
Income from:
Donations and	legacies	3	13,158		13,158	13,698		13,698
Charitable activities		4	1,206,105	88,380	1,294,485	946,345	239,767	1,186,112
Other trading activities		5	1,550		1,550	100		100
Total income			1,220,813	88,380	1,309,193	960,143	239,767	1,199,910
E~dd
Charitable activities		6	L240,344	137,133	1,377,477	908,799	400,577	1,309,376
Net expenditure	forthe	year/
Net movement	in funds		(19,531)	(48,753)	(68,284)	51,344	(160,810)	(109,466)
Fund balances at1January 2022			524,168	716,205	1,240,373	472,824	877,015	1,349,839
Fund balances at31December
2022			504,637	667,452	1,172,089	524,168	716,205	1,240,373

			2022		2021
		Notes	8
Fixed assets
Tangible assets		10		986,841		1,047,521
Current assets
Stocks		11	2,942		7,779
Debtors		12	45,539		53,272
Cash at bank and in	hand		278,123		289,040
			326,604		350,091
Creditors: amounts	falling due within one
year			(117,189)		(123,072)
Net current assets				209;415		227,019
Total assets less current liabilities				1,196,256		1,274,540
Creditors: amounts than one year	falling due after more	16		(24,167)		(34,167)
Net assets				1,172,089		1,240,373
income funds
Restricted funds		17		667,452		716,205
U tiffs
Designated funds		18	150,000		150,000
General unrestricted	funds		354,637		374,168
				504,637		524,168
				1,172,089		1,240,373

				2022		2021
			Notes
Cash flows from operating	activities
Cash generated from operations			25		1,533		1,080
Investing activities
Purchase of tangible fixed	assets			(2,450)		(46,477)
hlet cash used in investing	activities				(2,450)		(46,477)
Financing activities
Repayment of borrowing				(10,000)		(5,833)
Net cash used in financing	activities				(10,000)		(5,833)
Net decrease in cash and	cash equivalents				(10,917)		(51,230)
Cash and cash equivalents	at beginning	ofyear			289,040		340,270
Cash and cash equivalents	at end ofyear				278,123		289,040

Freehold	property	5-20% per annum
Leasehold	improvements	20%on cost
Office equipment		25%on cost
Tools and	equipment	33.3%on cost

Community asset tronsfen	Community asset tronsfen
Land		nat depreciated
CATconstruction	costs	5%an cost
Entrust		20%on cost
Rank		20%on cost
Welsh Church Act		20%on cost
Professional/other	fees	100%on cast

		Unrestricted	Unrestricted
		funds	funds
		2022	2021
		8	8
Donations	and gifts	13,119	13,698
Members	contdbutions	39

			2022f	2021f
	Service level agreement		20,000	20,000
	Performance related grants		88,380	239,767
	Household items	supplied	960,446	740,843
	Social enterprise	projects	225,659	185,502
			1,294,485	1,186,112
	Analysis by fund Unrestdicted funds		L206,105	946,345
	Restdicted funds		88,380	239,767
			1,294,485	1,186,112
	Performance related grants
	Job Retention Scheme			124,247
	Lloyds Bank Foundation RCT Rates Grants		12,000	25,000 54,000
	DWP - Kickstart		76,380
	RCT CBCWelsh	Towns		36,520
	Other
			88,380	239,767
5	Other trading activities
			Unrestricted	Unrestricted
			funds	funds
			2022f	2021 f
	Rental income		1,550

		2022	2021
		f	f
Staff costs		871,616	737,989
Volunteer costs		42,287	38,003
Transport costs		149,024	154,560
Cost ofgoods		101,190	110,237
		1,164,117	1,040,789
Share of support costs (see note 7)		206,960	262,892
Share of governance	costs (see note 7)	6,400	5,695
		1,377,477	1,309,376
Analysis by fund Unrestricted funds		1,240,344	908,799
Restricted funds		137,133	400,577
		1,377,477	1,309,376
For the year ended Unrestricted funds	31December 2021	908,799
Restricted funds		400,577
		L309,376

Support costs	Support costs	Support costs			Governance
				Support		2022	2021	Basis of
				costs	costs			allocation
				E	E	E	E
Depreciation				63,130		63,130	106,053	Staff costs
Advertising		and meetings		3,645		3,645	3,727	Staff costs
Premises costs				64,863		64,863	87,458	Staff costs
Telephone		and administration		44,489		44,489	42,521	Staff costs
Lega! and		professional	fees	9,710		9,710	4,535	Staff costs
Insurances				11,553		11,553	11,595	Staff costs
Bank charges				9,570		9,570	7,003	Staff costs
Audit fees					6,400	6,400	5,695	Governance
				206,960	6,400	213,360	268,587
Analysed	between
Charitable		activities		206,960	6,400	213,360	268,587

			2022	2021
			Number	Number
Charitable	activities		37	33
Governance			2	2
			39	35
Employment		costs	2022	2021
			E	E
Wages and	salaries		797,507	672,210
Soaal security costs			55,322	48,623
Other pension costs			14,268	12,404
Staff training		and expenses	4,519	4,752
			871,616	737,989

10	Tangible fixed assets
			Freehold	Leasehold	Office	Toolsaod	Total
			property f	improvements f	equipmentf	equipmentf
	Cost
	At 1January 2022		1,664,320	14,339	49,607	7,207	1,735,473
	Additions					2,450	2,450
	At 31December 2022		1,664,320	14,339	49,607	9,657	1,737,923
	Depreciation and impairment At 1January 2022		651,647	8,810	22,275	5,219	687,951
	Depreciation charged	in the year	47,024	1,276	13,072	1,759	63,131
	At 31December 2022		698,671	10,086	35,347	6,978	751,082
	Carrying amount
	At31December 2022		965,649	4,253	14,260	2,679	986,841
	At 31December 2021		1,012,672	5,528	27,333	1,988	1,047,521

Stocks
		2022f	2021 f
Finished goods and goods for resale		2,942	7,779
Debtors
Amounts falling due within one year.		2022f	2021f
Trade debtors		17,515	2,952
Other debtors		2,809	2,454
Prepayments	and accrued income	25,215	47,866
		45,539	53,272

13	Creditors: amounts	Creditors: amounts	falling due within one year	falling due within one year	falling due within one year
							Notes	2022 5	2021f
	Bank loans						15	10,000	10,000
	Deferred	income					14	19,841	17,144
	Trade creditors							24,073	34,170
	Other creditors							26,721	23,147
	Accruals							36,554	38,611
								117,189	123,072
14	Deferred	income
								2022	2021f
	Other deferred income							19,841	17,144
	Deferred	income is included			in the financial statements	as follows:
								2022	2021
								E	5
	Deferred	income is included			within:
	Current	liabilities						19,841	17,144
	Movements in the year:
	Deferred	income at	1January		2022			17,144	16,715
	Released	from previous		periods				(17,144)	(16,715)
	Resources deferred		in the year					19,841	17,144
	Deferred	income at	31	December 2022				19,841	17,144
15	Loans and overdrafts
								2022f	2021f
	Bank loans							34,167	44,167
	Payable	within one year						10,000	10,000
	Payable	after one year						24,167	34,167

16	Creditors: amounts	falling due after more than one year
			Notes	2022f	2021 g
	Bank loans		15	24,167	34,167

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										Movement
										in funds
							Balance at	Transfers	Baianceat	Incoming		Balance at
						1	January 2O21		1January 2022	resources		31December
								f	f			2022f
	Project closure costs						100,000	50,000	150,000			150,000
							100,000	50,000	150,000			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 2021as a result				of the surplus
	position at	the year end.
19	Analysis	of net assets between			funds
				Unrestricted			Restricted	Total	Unrestricted	Restricted		Total
					funds		funds		funds	funds
					2022f			2022f	2021 E	2021 E		2021f
	Fund balances at 31
	December	2022 are
	represented	by:
	Tangible assets			319,389			667,452	986,841	353,664	693,857		1,047,521
	Current assets/(liabilities)			209,415				209,415	204,671	22,348		227,019
	Long term	liabilities		(24,167)				(24,167)	(34,167)			(34,167)
				504,637			667,452	1,172,089	524,168	716,205		1,240,373

		2022	2021
		8	8
Aggregate	compensation	143,763	136,833

non-cancellable operating leases, which fall due as follows:
	2022	2021
	8	E
Within one year	5,182	90,513
Between two and five years	33,666	84,748
	38,848	175,26
		2

25	Cash generated from operations	Cash generated from operations		2022	2021
				E	E
	Deficit for the year			(68,284)	(109,466)
	Adjustments for:
	Depreciation and impairment of tangible fixed assets			63,130	106,053
	Movements in working capital:
	Decrease in stocks			4,837	10,253
	Decrease/(increase)	in debtors		7,733	(8,614)
	(Decrease)/increase	in creditors		(8,580)	2,425
	Increase in deferred	income		2,697	429
	Cash generated from operations			1,533	1,080
26	Analysis ofchanges	in net funds
			At 1Jaauarv	Cash flows	At31December
			2022		2O22
			E	E	E
	Cash at bank and in	hand	289,040	(10,917)	278,123
	Loans falling due within one year		(10,000)		(10,000)
	Loans falling due after more than one year		(34,167)	10,000	(24,167)
			244,873	(917)	243,956