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2023-03-31-accounts

Company no. 03738243 Charity no. 1086946

Re:Work Ltd

Report and Unaudited Financial Statements

31 March 2023

Re:Work Ltd

Reference and administrative details

For theyear ended 31 March 2023 For theyear ended 31 March 2023
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
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 2023

The trustees present their report and examined financial statements for the year ended 31 March 2023.

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 trustee retires or additional trustees are required, the Board of Trustees considers the recruitment of new trustees.

New trustees are found from the contacts 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 2023

Our charity is established:

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 2023, incoming resources were £270,135 (2022: £242,454) and resources expended were £292,050 (2022: £275,866), resulting in a deficit for the year of £21,915 (2022: deficit of £33,412). Total funds at 31 March 2023 were £44,834 (2022: £66,749) with restricted funds of £5,558 (2022: £10,641) and unrestricted funds of £39,276 (2022: £56,108).

Reserves policy

The free reserves of the charity (unrestricted net current assets) at 31st March 2023 is £24,368. The charity endeavours to maintain sufficient reserves amounting to three month’s payroll costs (£50,150: 2022-23). The level of free reserves is below the reserves policy this year. During 2022 the Board of Trustees along with the Management Team and staff reviewed and produced a new business plan. The Trustees intend to use the strategic directions (outlined on page 6) to address this and increase the level of reserves over the next three years to reach the target.

What we do

Re:Work supports young people who are struggling in school. We offer long term work experience where young people (who we refer to as students) volunteer their time for 1 or 2 days a week. This is instead of going to school or college. They work in our shop, carpentry workshop, with our gardening team or on our allotment site.

Working in south Bristol, our core service is to offer alternative education provision to young people who are struggling in mainstream school. We use long term work experience, rather than an arts or sports context, to offer young people an opportunity to build confidence, self-esteem and skills that are useful in entry level employment. Our service sits between work, mentoring and volunteering and offers all the benefits associated with those experiences.

Young people are referred to us by their schools or other Alternative Learning Providers (ALP). They work with us for between 1 and 4 half day sessions, depending on their needs and abilities.

The work experience happens in businesses we run: a furniture reuse shop and carpentry workshop, or with our garden maintenance team. This means that we have the added social benefit of offering low cost goods and services to an area of high deprivation (we are based in the Filwood ward where there are high rates of poverty). It also means that the young people who take up placements get to be seen, and see themselves, as people who help their community.

3

Re:Work Ltd

Report of the trustees

For the year ended 31 March 2023

Over the academic year 2022/23 we supported young people in over 500 sessions. Sixty percent of our service users returned to full time education, thirty percent returned this academic year as part of a stable mixed curriculum and 10% of placements broke down due to lack of attendance (with us or with school) or engagement in crime.

Theory of change

Across England levels of severely absent pupils (children who miss school more than they attend) has more than doubled since 2019. Children who have Special Education Needs (SEN) or are living with poverty are 3 times more likely to be absent from schools.

Bristol has the 8th highest rate of persistent absence (27.9%) in England and the 4th highest for severe absence at 2.7%. Within Bristol, it is the Hartcliffe and Withywood ward and the Filwood Ward (where most of our service users live) that have the highest levels of non-attendance.

4

Re:Work Ltd

Report of the trustees

For the year ended 31 March 2023

Re:Work’s theory of change for the student journey

5

Re:Work Ltd

Report of the trustees

For the year ended 31 March 2023

We believe, and research supports this belief, that helping children develop social skills, build selfconfidence, self-esteem, and resilience gives them a better chance of becoming successful adults. The Youth Endowment’s “Toolkit - An overview of existing research on approaches to preventing serious youth violence” found that social skills training with the aim to develop children’s ability to regulate their behaviour and communicate effectively reduced children’s involvement in serious crime by 32% and assessed it as highly effective.

Organisational development

Across the financial year 2022-23, the Board of Trustees with support of the Management Team has reviewed and produced a new business plan for the charity.

With input from stake holder groups we have set our strategic direction as:

▪Growing financial security and independence.

Service development

Working with partners across the area, we have taken over the lease of Springfield allotment, a 1.3 acre green space with an orchard and 3 poly-tunnels. We have chosen to pursue this project for 3 reasons:

The space is managed by a steering group that draws from organisations that are part of the Knowle West Alliance and people who are passionate about growing and green spaces.

As of September 2023, we will be offering student placements on the allotment and we will be working with young people to co-design what that opportunity will look like with our service users.

Operational challenges

The redevelopment of Filwood Broadway has put considerable stress on our team and our finances. We have been managing the tenancies of the flats between 4 and 16 Filwood Broadway since 2007. It was intended to be a short-term arrangement to avoid anti-social behaviour and the premises falling into further disrepair. We have supported over 20 people or families who were at risk of homelessness, were homeless or were in temporary or unsuitable accommodation to maintain long term tenancies. All but one of our ex-tenants have moved on to accommodation that better suits them (closer to their work, larger, smaller, supported housing, etc depending on their changing situations).

The premises are now in need of significant structural repair, made worse by the demolition of the cinema that abutted our office. Bristol City Council (the owner) have had numerous internal conversations regarding potential investment which, following the award for the Levelling Up fund, they have chosen not to proceed with. There is an options appraisal underway that includes potential part renovation, full renovation or demolition. Remaining abreast of these developments and supporting our tenants with this uncertainty has been a significant draw on our resources.

6

Re:Work Ltd

Report of the trustees

For the year ended 31 March 2023

The Levelling Up fund will hopefully have a positive impact on our ability to trade. One target for our last business plan was to attract more customers to the shop by supporting the improvement of the street. We have put time and effort into supporting and communicating the potential that a user friendly Filwood Broadway would bring to the area. We hope that the Levelling Up fund will encourage more investment into what is a much-needed centre of the estate.

Financial challenges

The trustees are aware and acknowledge that the financial situation of the charity is challenging, as is the case for the charitable sector generally. However, we trust that our team is dedicated and creative, our service is needed and effective, that we have clear aims and are part of strong and useful networks. We have put considerable effort into being able to articulate our outcomes and achievements and are confident we are on the path to a more sustainable future.

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:

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.

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 2023 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.

7

Re:Work Ltd

Report of the trustees

For the year ended 31 March 2023

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 26 October 2023 and signed on their behalf by:

judith sluglett

Judith Sluglett – Chair of Trustees

8

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 2023, which are set out on pages 10 to 24.

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

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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:

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: 26 October 2023

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

9

Re:Work Ltd

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2023

Restricted Unrestricted
Note
£
£
Income from:
Donations and legacies
3
6,050
60,355
Charitable activities
Re:Store
5,371
17,727
Re:Grow
-
44,054
Energy and fuel poverty
21,080
2,822
Re:Fill
-
-
Springfield Allotments
18,003
-
Re:House
-
58,466
Students and training
-
36,207
Other income
4
-
-
Total income
50,504
219,631
Expenditure on:
Raising funds
824
21,586
Charitable activities
Re:Store
12,575
66,028
Re:Grow
3,289
67,897
Energy and fuel poverty
25,896
-
Re:Fill
-
-
Springfield Allotments
13,003
342
Re:House
-
36,384
Students and training
-
44,226
Total expenditure
6
55,587
236,463
7
(5,083)
(16,832)
Reconciliation of funds:
Total funds brought forward
10,641
56,108
Total funds carried forward
5,558
39,276
Net expenditure and net movement in
funds		 2023
Total
£
66,405
23,098
44,054
23,902
-
18,003
58,466
36,207
-
270,135
22,410
78,603
71,186
25,896
-
13,345
36,384
44,226
292,050
(21,915)
66,749
44,834		 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

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.

10

Re:Work Ltd

Balance sheet

As at 31 March 2023

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		 £
7,350
29,600
15,046		 2023
£
14,908		 2022
£
6,030
29,926 7,299
10,438
56,314
51,996
(22,070)		 74,051
(13,332)
60,719
44,834 66,749
5,558
39,276		 10,641
56,108
44,834 66,749

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 2023, 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 2023 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 2023, 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 26 October 2023 and signed on their behalf by

judith sluglett

Judith Sluglett – Chair of Trustees

11

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

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.

We have increased our levels of income during the year through our Alternative Learning Provision programme (a 56% increase on the previous year) and our gardening/grounds maintenance work (a 24% increase on the previous year). We will continue to develop these areas over the coming year through offering more placements at Springfield Allotments and increasing our sales through the re:grow team.

We also intend to employ a fundraiser for 3 days per week for 6 months to focus on submitting larger, multi-year funding applications to provide financial stability in line with the priorities identified in our new business plan.

Due to the continuing, challenging economic climate, we have continued with detailed budgeting and forecasting with updates reported each month based on actual performance and new funding and prospective funding highlighted.

The Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue its operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.

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.

12

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

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.

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:
2023 2022
Raising funds 7.8% 12.3%
Re:Store 24.9% 20.6%
Re:Grow 33.9% 32.8%
Energy and Fuel Poverty 6.4% 6.1%
Re:Fill 0.0% 1.2%
Springfield Allotments 0.0% 0.0%
Re:House 12.4% 12.9%
Students and training 14.6% 14.1%

13

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies (continued)

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 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.

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.

14

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies (continued)

p) Accounting estimates and key judgements (continued)

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.

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 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 movement in funds		 Restricted
£
£
26,750
38,017
12,500
11,150
2,400
45,988
2,649
2,960
-
372
-
56,088
-
20,160
-
23,420
44,299
198,155
16,997
15,321
16,558
44,406
521
79,114
11,714
6,898
-
7,611
-
36,514
-
40,212
45,790
230,076
(1,491)
(31,921)
Unrestricted		 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)

15

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

3. Donations and legacies

Grants and donations > £5,000
Anonymous donor
Foundation for Children
John James Foundation
Swires Charitable Trust
The Sackler Trust
Grants and donations < £5,000
Total donations and legacies
Prior year comparative
Grants and donations > £5,000
Foundation for Children
Swires Charitable Trust
The Sackler Trust
Coronavirus Job Retention Scheme
Grants and donations < £5,000
Total donations and legacies		 Restricted
£
£
-
19,038
6,000
-
-
5,000
-
14,000
-
5,000
50
17,317
6,050
60,355
Restricted
£
£
23,750
-
-
12,000
-
5,000
-
3,458
3,000
17,559
26,750
38,017
Unrestricted
Unrestricted		 2023
Total
£
19,038
6,000
5,000
14,000
5,000
-
17,367
66,405
2022
Total
£
23,750
12,000
5,000
3,458
20,559
64,767

4. Other income

Other income
Insurance payout
Other miscellaneous		 2023
Total
£
-
-
-		 2022
Total
£
21,917
1,503
23,420

All other income in the prior year was unrestricted.

5. Government grants

The charitable company did not receives any government grants in the 2022/23 financial year. In the prior year, the charitable company received 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. There are no unfulfilled conditions or contingencies attaching to these grants.

16

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

6. Total expenditure

Total expenditure
£
Staff costs (note 8)
18,278
Cost of sales
-
Establishment costs
-
Vehicle expenses
-
Professional fees
-
Office expenses
-
Depreciation
-
Training
-
Sundry
-
Bank charges
-
Bad debt
-
Sub-total
18,278
Allocation of
support and
governance costs
4,132
Total expenditure
22,410
Raising funds		 Re:Store
£
51,927
120
10,615
1,172
-
929
-
558
-
61
-
65,382
13,221
78,603		 Re:Grow
£
43,527
241
5,283
3,960
-
113
-
-
-
-
-
53,124
18,062
71,186		 Energy and
fuel poverty
£
16,525
-
5,818
145
-
-
-
-
-
22,488
3,408
25,896		 Springfield
Allotments
£
13,002
-
238
-
-
105
-
-
-
-
-
13,345
-
13,345		 Re:House
£
22,367
-
7,431
-
-
-
-
-
-
-
-
29,798
6,586
36,384		 Students
and training
£
36,432
-
-
-
-
-
-
-
-
-
-
36,432
7,794
44,226		 Support and
governance
costs
£
14,503
4,188
19,579
224
2,800
5,263
1,425
649
3,720
370
482
53,203
(53,203)
-		 2023 Total
£
216,561
4,549
48,964
5,356
2,800
6,555
1,425
1,207
3,720
431
482
292,050
-
292,050

Governance costs for the year totalled £2,800 (2022: £2,650).

17

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

6. Total expenditure Prior year comparative

£
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

18

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

7. Net movement in funds

This is stated after charging:

Depreciation
Loss on disposal of assets
Accountants' remuneration (excluding VAT):
Independent examination
Trustees' reimbursed expenses
Trustees' remuneration		 2023
£
1,425
562
Nil
Nil
2,800		 2022
£
2,030
785
Nil
Nil
2,650

8. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Employer pension		 2023
£
201,403
10,368
4,790
216,561		 2022
£
195,988
9,692
4,365
210,045

No employee earned more than £60,000 during the current or prior 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 £109,615 (2022: £105,956).

Average head count 2023
No.
11.6		 2022
No.
12.4

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

19

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

10. Tangible fixed assets

Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
Disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
11. Stock
Donated goods for resale
12. Debtors
Trade debtors
Provision for doubtful debts
Net trade debtors
Accrued income
Prepayments
VAT
Other debtors		 £
14,222
-
-
14,222
9,836
877
-
10,713
3,509
4,386
Equipment		 £
11,794
10,865
(1,000)
21,659
10,150
548
(438)
10,260
11,399
1,644
2023
£
7,350
2023
£
16,925
(2,842)
14,083
12,338
130
1,379
1,670
29,600
Motor
vehicles		 Total
£
26,016
10,865
(1,000)
35,881
19,986
1,425
(438)
20,973
14,908
6,030
2022
£
7,299
2022
£
10,072
(2,264)
7,808
-
130
-
2,500
10,438

20

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

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 2022
Deferred income during the year
Released during the year
At 31 March 2023		 2023
£
4,240
2,908
420
-
9,976
8
4,518
22,070
2023
£
1,170
420
(1,170)
420		 2022
£
952
3,282
1,170
966
3,639
162
3,161
13,332
2022
£
300
1,170
(300)
1,170

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 2023
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2022
Prior period comparatives		 £
-
5,558
-
5,558
£
-
10,641
-
10,641
Restricted
funds
Restricted
funds		 £
14,908
46,438
(22,070)
39,276
£
6,030
63,410
(13,332)
56,108
Unrestricted
funds
Unrestricted
funds		 Total
funds
£
14,908
51,996
(22,070)
44,834
Total
funds
£
6,030
74,051
(13,332)
66,749

21

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

16. Movements in funds

Ambition Lawrence Weston
CHEESE - BIF funding
Clear Channel - Springfield
D'Oyly Carte
Energy Redress Scheme
Fareshare
Other restricted donations:
Total restricted funds
Unrestricted funds
General funds
Total funds
Ambition Lawrence Weston -
Emergency Giving Fund
Foundation for Children (fundraiser)
Knowle West Alliance (KWA) -
Springfield
Knowle West Alliance - Welcome
Spaces
Quartet Community Foundation -
Megawatts
Quartet Community Foundation -
Restore training
Quartet Community Foundation -
Springfield
School for Social Entrepreneurs
Total unrestricted funds
Foundation for Children
(workshop)		 At 1 April
2022
£
113
-
2,475
-
1,879
-
2,421
753
-
-
-
-
-
-
3,000
-
10,641
56,108
56,108
66,749		 Income
£
-
4,000
-
10,000
-
13,070
-
-
6,000
3,000
2,047
4,000
2,900
5,000
-
487
50,504
219,631
219,631
270,135		 Expenditure
£
£
(113)
-
(4,000)
-
(2,475)
-
(10,000)
-
(1,879)
-
(13,070)
-
(2,421)
-
(753)
-
(6,000)
-
(3,000)
-
(1,749)
298
(4,000)
-
(2,640)
260
-
5,000
(3,000)
-
(487)
-
(55,587)
5,558
(236,463)
39,276
(236,463)
39,276
(292,050)
44,834
At 31 March
2023		 Expenditure
£
£
(113)
-
(4,000)
-
(2,475)
-
(10,000)
-
(1,879)
-
(13,070)
-
(2,421)
-
(753)
-
(6,000)
-
(3,000)
-
(1,749)
298
(4,000)
-
(2,640)
260
-
5,000
(3,000)
-
(487)
-
(55,587)
5,558
(236,463)
39,276
(236,463)
39,276
(292,050)
44,834
At 31 March
2023
5,558
39,276
39,276
44,834

Purposes of restricted funds

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.

22

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

16. Movements in funds (continued) Purposes of restricted funds (continued)

Ambition Lawrence Weston - As previous description – continuation of Crowd funder campaign Emergency Giving Fund and grants made to local families in the area.

CHEESE - BIF funding

Training volunteers to undertake thermal imaging surveys of people's homes in Hartcliffe, Withywood and Filwood.

Clear Channel - Springfield To support us with developing Springfield community allotment into a viable space for growing and community projects.

D'Oyly Carte Towards the purchase of equipment for Re:Grow. Energy Redress Working in partnership with Bristol Energy Scheme Warm this Winter’ will use

Working in partnership with Bristol Energy Network, the ‘Keeping Warm this Winter’ project will use practical training, advice, and home visits, to prevent people falling, or falling further, into fuel poverty.

Fareshare Towards improving the workshop. 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) Knowle West Alliance To fund initial set up of project and partnership formation for Springfield allotment. Knowle West Alliance - To pay for staff time to run open access and drop ins offering a Welcome Spaces response to the cost of living crisis over the Winter period.

Knowle West Alliance - Welcome Spaces Quartet Community Foundation - Megawatts

To design and manufacture training aides and pilot draught proofing sessions to the local community.

Quartet Community Foundation - Restore training Quartet Community Foundation - Springfield School for Social Entrepreneurs

To help people learn and share their skills and compact isolation and loneliness. Upskilling staff to help signpost people for advice and support.

To set up an independent power supply using renewables at Springfield allotment.

To develop a five year business plan.

23

Re:Work Ltd

Notes to the financial statements

For the year ended 31 March 2023

16. Movements in funds (continued) Prior period comparatives

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
Bristol Energy Network - Warm Up,
Skill Up
Knowle West Alliance (KWA) - Big
Lottery Covid Response
School for Social Entrepreneurs
Foundation for Children (fundraiser)
Foundation for Children (workshop)		 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
-
At 31 March
2022
10,641
56,108
56,108
66,749

17. Related party transactions

During the year, Re:Work Ltd received unrestricted donations totalling £19,038 from one trustee (2022: £nil).

24