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