Company no. 03738243 Charity no. 1086946
Re:Work Ltd
Report and Unaudited Financial Statements
31 March 2022
Re:Work Ltd
Reference and administrative details
| For theyear ended 31 March 2022 | For theyear ended 31 March 2022 |
|---|---|
| Company number | 03738243 |
| Charity number | 1086946 |
| Registered office and | 8 Filwood Broadway |
| operational address | Knowle West |
| Bristol | |
| BS4 1JN | |
| Trustees | Trustees, who are also directors under company law, who served during |
| the year and up to the date of this report were as follows: | |
| Jocelyn Atcliffe | |
| Jacqueline Harvey | |
| Sian Nevitt (appointed 26 November 2021) | |
| Alex Raddon-Greenaway | |
| Judith Sluglett | |
| David Wherrett | |
| Chief executive officer | Vicky Beckwith |
| Company secretary | Judith Sluglett |
| Bankers | Lloyds TSB |
| 53-55 Corn Street | |
| Bristol | |
| BS1 1HT | |
| Independent | Godfrey Wilson Limited |
| examiners | Chartered accountants and statutory auditors |
| 5th Floor, Mariner House | |
| 62 Prince Street | |
| Bristol | |
| BS1 4QD |
1
Re:Work Ltd
Report of the trustees
For the year ended 31 March 2022
The trustees present their report and examined financial statements for the year ended 31 March 2022.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).
Structure, governance and management
The Charity is a company limited by guarantee, being incorporated on 23 March 1999 and is governed by its Memorandum and Articles of Association. The company was admitted to the Central Register of Charities by the Charity Commission on 7 June 2001.
The Charity is managed by a Board of Trustees that delegates executive management to the Chief Executive, Vicky Beckwith.
The Board of Trustees hold regular meetings throughout the year. Supporters and representatives of the organisations that the charity works with attend and contribute. Where such co-operation furthers its charitable objectives the charity works with various organisations that have an interest in advancing education and skills within the local community, and improving the local environment. Such organisations include the founding organisations from the Knowle West Alliance; The Park, the Knowle West Media Centre, Community in Partnership KW, the Knowle West Heathy Living Centre and ourselves. In addition we collaborate with organisations such as the Bristol Energy Network and the Bristol Alternative Learning Providers forum to attract a wider range of knowledge and support to tackle our charitable objectives.
The Board of Trustees keeps the skills requirement for the board under review. In the event that a director retires or additional trustees are required, the Board of Directors considers the recruitment of new directors.
New trustees are found from contact and networks of existing trustees. When recruiting new trustees the Board looks for individuals with skills and experience which are of value to the board and which are not represented by existing members. The existing Board members vote on the matter when individuals express a serious interest in joining the board.
New Trustees are provided with a welcome pack containing a brief history of the organisation, copies of board minutes, copies of the most recent Annual Report and Financial Statements, a copy of the Memorandum and Articles of Association and a copy of the Charity Commission’s guidance ‘The Essential Trustee’.
The Trustees have conducted their review of the major risks to which the charity is exposed and systems have been established to mitigate these risks.
Public benefit
As a charity Re:Work needs to be able to account for its achievements in terms of public benefit as well as financial turnover.
2
Re:Work Ltd
Report of the trustees
For the year ended 31 March 2022
Our charity is established:
-
To relieve poverty among the residents of South Bristol;
-
To advance education among the residents of South Bristol, particularly among young people and the unemployed;
-
To promote and/or provide training in skills of all kinds, particularly such skills as will assist residents of South Bristol in obtaining paid employment; and
-
To promote, establish and operate other schemes of a charitable nature for the benefit of the community within South Bristol.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives.
Financial review
For the year ended 31 March 2022, incoming resources were £242,454 (2021: £363,355) and resources expended were £275,866 (2021: £271,106), resulting in a deficit for the year of £33,412. Total funds at 31 March 2022 were £66,749 with restricted funds of £10,641 and unrestricted funds of £56,108.
Charity endeavours
In the financial year we welcomed a new trustee Sian Nevitt (ex Lloyds Banking Group/ Retired) who brings a wealth of understanding of social enterprises and charities across South Bristol, gained in the role of Business Connector and Chair of the charity Hawkspring.
During the year we employed an apprentice through the Kick Starter Campaign who joined us as a gardener and left us to take up a University place.
We have closed down our café. It was based within the Filwood Community Centre and during the two years of lockdowns the tenants and types of activities happening within the Community Centre changed significantly and our customer base was no longer there.
We have reopened our carpentry workshop which enables us to work with younger children in a safe play base. This is proving to be popular with students who use hand tools, a pole lathe and a shave horse to make new creations from waste wood. Our carpenter has introduced them to working with green wood, kindly donated by Bristol's tree surgeons.
Working in partnership with The Knowle West Media Centre, The Healthy Living Centre, The Park and Community in Partnership Knowle West to form the Knowle West Alliance (KWA) has enabled us to attract lottery funding to the area. This will help us support local ambitions, engagement around planning and development, and communicate achievements.
KWA has supported retaining the Springfield Allotment, a smallholding plot on the border between the Filwood and Knowle wards, for partnership work. Re:Work is leading on the project, it is currently entirely volunteer run and we are working on including as many people and ambitions as possible. This will also realise our vision of developing sessions for our work experience placements students to learn about growing food and managing livestock.
3
Re:Work Ltd
Report of the trustees
For the year ended 31 March 2022
Following the fire in re:store (our shop) in January 2021, and after significant renovation and repairs we reopened in February 2022 much to the relief of our community. This is not just a shop where people can buy low-cost and reuse items, it is also a social space where local people can drop in for a friendly chat and natter. For many people this can be their only social interaction for the day.
One lesson we have learned in the past two years is the need to embed safeguarding in all aspects of what we do. The Trustees are very proud of the way the team has responded to challenges in the community with kindness and consideration.
The Board has built on improving the structure and governance of the organisation; starting a review of all policies and procedures; setting structures in place to better manage changes in legislation and different methods of working. Our next step is to bring together a new five year Business Plan by the end of December 2022.
Reserves policy
The charity endeavours to maintain sufficient reserves, amounting to three months payroll costs (£53k for 2021/22), to enable it to continue to provide services to those that need them, such funds being considered as contingency funds against likely future events. The level of unrestricted reserves at £56k meets the reserves policy this year.
Statement of responsibilities of the trustees
The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
▪ observe the methods and principles in the Charities SORP; ▪ make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
4
Re:Work Ltd
Report of the trustees
For the year ended 31 March 2022
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of guarantees as 31 March 2022 was 6. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
Independent examiners
Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.
Approved by the Trustees on 29 September 2022 and signed on their behalf by:
Dave Wherrett – Chair of Trustees
5
Independent examiner's report
To the members of
Re:Work Ltd
I report to the trustees on my examination of the accounts of Re:Work Ltd (the charitable company) for the year ended 31 March 2022, which are set out on pages 7 to 21.
Responsibilities and basis of report
As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the charitable 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 the charitable company's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
(1) accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
-
(2) the accounts do not accord with those records; or
-
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no other concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
William Guy Blake
Date: 3 October 2022 William Guy Blake ACA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
6
Re:Work Ltd
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 March 2022
| Restricted Unrestricted Note £ £ Income from: Donations and legacies 3 26,750 38,017 Charitable activities Re:Store 12,500 11,150 Re:Grow 2,400 45,988 Energy and fuel poverty 2,649 2,960 Re:Fill - 372 Re:House - 56,088 Students and training - 20,160 Other charitable activities - - Other income 4 - 23,420 Total income 44,299 198,155 Expenditure on: Raising funds 16,997 15,321 Charitable activities Re:Store 16,558 44,406 Re:Grow 521 79,114 Energy and fuel poverty 11,714 6,898 Re:Fill - 7,611 Re:House - 36,514 Students and training - 40,212 Total expenditure 6 45,790 230,076 7 (1,491) (31,921) Reconciliation of funds: Total funds brought forward 12,132 88,029 Total funds carried forward 10,641 56,108 Net income / (expenditure) and net movement in funds |
2022 Total £ 64,767 23,650 48,388 5,609 372 56,088 20,160 - 23,420 242,454 32,318 60,964 79,635 18,612 7,611 36,514 40,212 275,866 (33,412) 100,161 66,749 |
2021 Total £ 118,629 5,894 36,759 11,162 434 52,586 29,580 1,004 107,307 |
|---|---|---|
| 363,355 | ||
| 29,851 60,313 66,727 13,029 24,554 34,764 41,868 |
||
| 271,106 | ||
| 92,249 7,912 |
||
| 100,161 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 16 to the accounts.
7
Re:Work Ltd
Balance sheet
As at 31 March 2022
| Note Fixed assets Tangible fixed assets 10 Current assets Stock 11 Debtors 12 Cash at bank and in hand Liabilities Creditors: amounts falling due within 1 year 13 Net current assets Net assets 15 Funds 16 Restricted funds Unrestricted funds Total charity funds |
£ 7,299 10,438 56,314 |
2022 £ 6,030 60,719 |
2021 £ 6,429 |
|---|---|---|---|
| - 16,316 88,958 |
|||
| 74,051 (13,332) |
105,274 (11,542) |
||
| 93,732 | |||
| 66,749 | 100,161 | ||
| 10,641 56,108 |
12,132 88,029 |
||
| 66,749 | 100,161 |
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
For the year ended 31 March 2022, the charitable company was entitled to the exemption under section 477(2) of the Companies Act 2006.
No notice has been deposited under section 476 in relation to its accounts for the year ended 31 March 2022 and no members have requested an audit.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records complying with section 386; and preparing accounts which give a true and fair view of the state of affairs of the company as at 31 March 2022, and of its profit or loss for the financial year in accordance with sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006.
Approved by the trustees on 29 September 2022 and signed on their behalf by
Dave Wherrett – Chair of Trustees
8
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
1. Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Re:Work Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
b) Going concern basis of accounting
The accounts have been prepared on the assumption that the charity is able to continue as a going concern. Following the pandemic, similar to other charities, we had to utilise our reserves as funding was more difficult to secure with many charitable trusts and foundations experiencing a decrease in their income levels. The trustees and staff are currently working through a strategic review to develop a new five year Business Plan by the end of December 2022. We have revised and recosted our Alternative Learning Provision offering a more flexible work placement programme to schools from this September. We have increased our grounds maintenance contracts and this year we will also be managing the communal areas of the new BoKlok development. We will be securing resources to invest in fundraising and in communicating our outcomes to stakeholders.
The trustees consider that the charity has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. For these reasons the trustees consider it appropriate to adopt the going concern basis for the preparation of the accounts.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of provision of services is deferred until criteria for income recognition are met.
d) Donated goods for resale
Donated goods for resale are recognised as income at their fair value upon receipt, which is deemed to be the expected proceeds from sale less the expected costs of sale. Any difference in the resale value is charged or credited to the statement of financial activities during the year.
9
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
1. Accounting policies (continued)
e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
f) Funds accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
g) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Allocation of support and governance costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between expenditure on charitable activities on the following basis, which is based on staff time:
| hich is based on staff time: | ||
|---|---|---|
| 2022 | 2021 | |
| Raising funds | 12.3% | 9.0% |
| Re:Store | 20.6% | 25.5% |
| Re:Grow | 32.8% | 26.4% |
| Energy and Fuel Poverty | 6.1% | 3.9% |
| Re:Fill | 1.2% | 9.6% |
| Residential properties | 12.9% | 11.6% |
| Students and Training | 14.1% | 14.0% |
i) Tangible fixed assets
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
| Equipment | 20% on a reducing balance basis |
|---|---|
| Fixtures and fittings | 20% on a reducing balance basis |
| Motor vehicles | 25% on a reducing balance basis |
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is not provided on freehold land.
10
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
1. Accounting policies (continued)
j) Stock
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value, which is deemed to be the expected proceeds from sale less the expected costs of sale.
k) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
l) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
m) Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
n) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.
o) Pension costs
The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Pension costs charged in the financial statements represent the contribution payable by the charitable company during the year.
p) Accounting estimates and key judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
11
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
1. Accounting policies (continued)
p) Accounting estimates and key judgements (continued) Depreciation
- As described in note 1(i) to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Depreciation rates in operation during the current and prior period are detailed in note 1(i).
2. Prior period comparatives: statement of financial activities
| Income from: Donations and legacies Charitable activities Re:Store Re:Grow Energy and Fuel Poverty Re:Fill Re:House Students and training Other charitable activities Other income Total income Expenditure on: Raising funds Charitable activities Re:Store Re:Grow Energy and Fuel Poverty Re:Fill Re:House Students and training Total expenditure Net income / (expenditure) Transfers between funds Net movement in funds |
Restricted £ £ 42,069 76,560 - 5,894 - 36,759 8,422 2,740 - 434 - 52,586 - 29,580 - 1,004 - 107,307 50,491 312,864 6,016 23,835 13,127 47,186 11,823 54,904 10,222 2,807 4,299 20,255 5,204 29,560 6,279 35,589 56,970 214,136 (6,479) 98,728 (4,089) 4,089 (10,568) 102,817 Unrestricted |
2021 Total £ 118,629 5,894 36,759 11,162 434 52,586 29,580 1,004 107,307 |
|---|---|---|
| 363,355 | ||
| 29,851 60,313 66,727 13,029 24,554 34,764 41,868 |
||
| 271,106 | ||
| 92,249 - |
||
| 92,249 |
12
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
3. Donations and legacies
| Restricted £ £ Grants and donations > £5,000 Foundation for Children 23,750 - Swires Charitable Trust - 12,000 The Sackler Trust - 5,000 Coronavirus Job Retention Scheme - 3,458 Grants and donations < £5,000 3,000 17,559 Total donations and legacies 26,750 38,017 Prior year comparative Restricted £ £ Grants and donations > £5,000 Knowle West Alliance via KWMC 33,376 - Grocers Charitable Trust - 5,000 Singers Foundation - 10,000 Denmans Charitable Trust - 5,000 Bristol City Council Coronavirus Support Grants - 20,497 John James Foundation - 5,000 Coronavirus Job Retention Scheme - 14,191 Grants and donations < £5,000 8,693 16,872 Total donations and legacies 42,069 76,560 Other income 2022 Restricted Total £ £ £ Profit on disposal of property - - - Insurance payout - 21,917 21,917 Other miscellaneous - 1,503 1,503 - 23,420 23,420 Unrestricted Unrestricted Unrestricted |
2022 Total £ 23,750 12,000 5,000 3,458 20,559 |
|---|---|
| 64,767 | |
| 2021 Total £ 33,376 5,000 10,000 5,000 20,497 5,000 14,191 25,565 |
|
| 118,629 | |
| 2021 Total £ 107,307 - - |
|
| 107,307 |
4. Other income
All other income in the prior year was unrestricted.
5. Government grants
The charitable company receives government grants, defined as funding from Bristol City Council Coronavirus Support Grants and the Coronavirus Job Retention Scheme to fund charitable activities. The total value in the period ending 31 March 2022 was £6,125 (2021: £34,688). There are no unfulfilled conditions or contingencies attaching to these grants.
13
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
6. Total expenditure
| Total expenditure | ||||||||
|---|---|---|---|---|---|---|---|---|
| £ Staff costs (note 8) 26,625 Cost of sales - Establishment costs - Vehicle expenses - Professional fees - Office expenses - Depreciation - Training - Sundry - Bank charges - Bad debt - Sub-total 26,625 Allocation of support and governance costs 5,693 Total expenditure 32,318 Raising funds |
Re:Store £ 39,539 373 8,193 3,111 - 268 - - 8 20 - 51,512 9,452 60,964 |
Re:Grow £ 52,874 377 6,871 4,020 - 323 - - 20 - - 64,485 15,150 79,635 |
Energy and fuel poverty £ 15,429 - 321 - - 33 - - - - - 15,783 2,829 18,612 |
Re:Fill £ 4,042 14 1,965 - - 174 - 28 836 1 - 7,060 551 7,611 |
Re:House £ 25,074 37 5,441 - - - - - - - - 30,552 5,962 36,514 |
Students and training £ 33,682 - - - - - - - - - - 33,682 6,530 40,212 |
Support and governance costs £ 12,780 5,759 13,117 - 2,663 5,429 2,030 295 699 309 3,086 46,167 (46,167) - |
2022 Total £ 210,045 6,560 35,908 7,131 2,663 6,227 2,030 323 1,563 330 3,086 |
| 275,866 - |
||||||||
| 275,866 |
Governance costs for the year totalled £2,650 (2021: £2,500).
14
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
6. Total expenditure Prior year comparative
| £ Staff costs (note 8) 25,480 Cost of sales - Establishment costs - Vehicle expenses - Professional fees - Office expenses - Depreciation - Loan interest - Training - Sundry - Bank charges - Bad debt - Sub-total 25,480 Allocation of support and governance costs 4,371 Total expenditure 29,851 Raising funds |
Re:Store £ 26,458 8,952 7,713 4,059 - 544 - - 35 113 3 - 47,877 12,436 60,313 |
Re:Grow £ 46,396 179 4,201 3,002 - 61 - - - 22 - - 53,861 12,866 66,727 |
Energy and fuel poverty £ 10,881 - 235 - - 5 - - - - - - 11,121 1,908 13,029 |
Re:Fill £ 18,202 360 673 - - 86 - - - 553 1 - 19,875 4,679 24,554 |
Re:House £ 22,854 164 2,988 - 3,068 26 - - - - - - 29,100 5,664 34,764 |
Students and training £ 35,035 - - - - - - - - - - - 35,035 6,833 41,868 |
Support and governance costs £ 18,514 3,400 8,337 - 2,500 6,819 1,777 383 1,937 3,609 1,354 127 48,757 (48,757) - |
2021 Total £ 203,820 13,055 24,147 7,061 5,568 7,541 1,777 383 1,972 4,297 1,358 127 |
|---|---|---|---|---|---|---|---|---|
| 271,106 - |
||||||||
| 271,106 |
15
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
7. Net movement in funds
This is stated after charging (crediting):
| Depreciation Loss on disposal of assets Accountants' remuneration: Independent examination Trustees' reimbursed expenses Trustees' remuneration |
2022 £ 2,030 785 Nil Nil 2,650 |
2021 £ 1,777 - Nil Nil 2,500 |
|---|---|---|
8. Staff costs and numbers
Staff costs were as follows:
| Salaries and wages Social security costs Employer pension |
2022 £ 195,988 9,692 4,365 210,045 |
2021 £ 190,870 9,017 3,933 |
|---|---|---|
| 203,820 |
No employee earned more than £60,000 during the year.
The key management personnel of the charity comprise the Chief Executive, Training CoOrdinator and Office Manager. Total employee benefits paid to the key management personnel were £105,956 (2021: £103,905).
| Average head count | 2022 No. 12.4 |
2021 No. 13.0 |
|---|---|---|
9. Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
16
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
10. Tangible fixed assets
| Cost At 1 April 2021 Additions Disposals At 31 March 2022 Depreciation At 1 April 2021 Charge for the year Disposals At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 11. Stock Donated goods for resale 12. Debtors Trade debtors Provision for doubtful debts Net trade debtors Prepayments Other debtors |
£ 25,445 2,416 (13,639) 14,222 21,506 1,482 (13,152) 9,836 4,386 3,939 Equipment |
Fixtures and fittings £ 16,499 - (16,499) - 16,201 - (16,201) - - 298 |
£ 11,794 - - 11,794 9,602 548 - 10,150 1,644 2,192 2022 £ 7,299 2022 £ 10,072 (2,264) 7,808 130 2,500 10,438 Motor vehicles |
Total £ 53,738 2,416 (30,138) |
|---|---|---|---|---|
| 26,016 | ||||
| 47,309 2,030 (29,353) |
||||
| 19,986 | ||||
| 6,030 | ||||
| 6,429 | ||||
| 2021 £ - |
||||
| 2021 £ 14,659 (973) |
||||
| 13,686 130 2,500 |
||||
| 16,316 |
17
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
13. Creditors : amounts due within 1 year
| Trade creditors Other taxation and social security Deferred income (note 14) VAT Accruals Conduit funding Other creditors 14. Deferred income At 1 April 2021 Deferred income during the year Released during the year At 31 March 2022 |
2022 £ 952 3,282 1,170 966 3,639 162 3,161 13,332 2022 £ 300 1,170 (300) 1,170 |
2021 £ 729 2,917 300 761 2,500 340 3,995 |
|---|---|---|
| 11,542 | ||
| 2021 £ 300 - - |
||
| 300 |
Deferred income relates to rent payments received prior to the month it is due.
15. Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2022 Tangible fixed assets Current assets Current liabilities Net assets at 31 March 2021 Prior period comparatives |
£ - 10,641 - 10,641 £ - 12,132 - 12,132 Restricted funds Restricted funds |
£ 6,030 63,410 (13,332) 56,108 £ 6,429 93,142 (11,542) 88,029 Unrestricted funds Unrestricted funds |
Total funds £ 6,030 74,051 (13,332) |
|---|---|---|---|
| 66,749 | |||
| Total funds £ 6,429 105,274 (11,542) |
|||
| 100,161 |
18
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
16. Movements in funds
| CHEESE - BIF funding Clothworkers Foundation Ambition Lawrence Weston John James Foundation Wakeham Trust Fareshare D'Oyly Carte Arnold Clarke Total restricted funds Unrestricted funds General funds Total funds Total unrestricted funds Knowle West Alliance (KWA) - Big Lottery Covid Response Bristol Energy Network - Warm Up, Skill Up Foundation for Children (fundraiser) Foundation for Children (workshop) School for Social Entrepreneurs |
At 1 April 2021 £ 2,000 2,812 479 6,342 499 - - - - - - - - 12,132 88,029 88,029 100,161 |
Income £ - 2,344 - - 305 3,000 17,750 6,000 5,500 2,000 2,500 2,400 2,500 44,299 198,155 198,155 242,454 |
Expenditure £ (2,000) (2,681) (479) (6,342) (691) - (16,997) (6,000) (5,500) (2,000) (79) (521) (2,500) (45,790) (230,076) (230,076) (275,866) |
£ £ - - - 2,475 - - - - - 113 - 3,000 - 753 - - - - - - - 2,421 - 1,879 - - - 10,641 - 56,108 - 56,108 - 66,749 Transfers between funds At 31 March 2022 |
£ £ - - - 2,475 - - - - - 113 - 3,000 - 753 - - - - - - - 2,421 - 1,879 - - - 10,641 - 56,108 - 56,108 - 66,749 Transfers between funds At 31 March 2022 |
|---|---|---|---|---|---|
| 10,641 | |||||
| 56,108 | |||||
| 56,108 | |||||
| 66,749 |
Purposes of restricted funds
Bristol Energy Network - Warm Up, Skill Up
This fund was in support of transporting equipment and for the CEO’s time towards meetings to develop training for a DIY project.
CHEESE - BIF funding
Training volunteers to undertake thermal imaging surveys of people's homes in Hartcliffe, Withywood and Filwood.
Clothworkers Foundation
Covid 19 programme to purchase IT equipment and services to support new ways of working.
19
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
16. Movements in funds (continued) Purposes of restricted funds (continued)
Knowle West Alliance With the partners of KWA our team was repurposed for the Covid (KWA) - Big Lottery Covid response in the Knowle West area and across South Bristol. It also Response helped to support changes in working practices such as remote working.
Ambition Lawrence Weston Through a Crowd funder campaign, coordinated by Bristol Energy Network, we supported families in the area who were struggling with fuel poverty.
School for Social Entrepreneurs
To develop a five year business plan.
Foundation for Children Towards the cost of a part time fundraiser post for one year. (fundraiser)
Foundation for Children Towards the running costs of the workshop for one year. (workshop)
John James Foundation Towards the running costs of Re:Store. Wakeham Trust Towards the running costs of the workshop for one year. Fareshare Towards improving the workshop. D'Oyly Carte Towards the purchase of equipment for Re:Grow. Arnold Clarke Towards the running costs of Re:Store.
20
Re:Work Ltd
Notes to the financial statements
For the year ended 31 March 2022
16. Movements in funds (continued) Prior period comparatives
| CHEESE - BIF funding Clothworkers Foundation Ambition Lawrence Weston Total restricted funds Unrestricted funds General funds Total funds Total unrestricted funds Quartet Foundation - Catalyst grant CIPKW - Crazy golf course project Coronavirus Response Fund - Quartet Community Foundation Knowle West Alliance (KWA) - Big Lottery Covid Response Bristol Energy Network - WHAM project Bristol Energy Network - Warm Up, Skill Up |
At 1 April 2020 £ 1,700 - 10,000 - 11,000 - - - - 22,700 (14,788) (14,788) 7,912 |
Income £ - 2,000 - 2,812 - 4,125 4,568 33,376 3,610 50,491 312,864 312,864 363,355 |
Expenditure £ (1,700) - (10,000) - (11,000) (4,125) - (27,034) (3,111) (56,970) (214,136) (214,136) (271,106) |
£ £ - - - 2,000 - - - 2,812 - - - - (4,089) 479 - 6,342 - 499 (4,089) 12,132 4,089 88,029 4,089 88,029 - 100,161 Transfers between funds At 31 March 2021 |
£ £ - - - 2,000 - - - 2,812 - - - - (4,089) 479 - 6,342 - 499 (4,089) 12,132 4,089 88,029 4,089 88,029 - 100,161 Transfers between funds At 31 March 2021 |
|---|---|---|---|---|---|
| 12,132 | |||||
| 88,029 | |||||
| 88,029 | |||||
| 100,161 |
17. Related party transactions
There were no related party transactions during the current or prior year.
21