REGISTERED COMPANY NUMBER: 04367121 (Englalld and Wales) REGISTERED CHARITI, P*UIVIBER: 1093176 REPORT OF THE TRUSTEES Af4D UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR REFURBS FLINTSHIRE
REFURBS FLINTSHIRE CONTENTS OF THE F1Tr4ANCIAL STATEi%IENTS FOR THE YEAR ENDED 31ST L4RCH 2024 Page Report of the Trustees Independent Examiner's Report Sialement of Financial Activities Balance Sheet io Cash Flow Statement Notes lo the Cash Flow Statement 12 Notes to thc Financial Statements 13 10 20 Detailed Statement of Financial Activities 21
REFURBS FLINTSIIIRE RF,PORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST fvIARCH 2024 The Iru51ec5 wlio arc also directors of the charity for the purpose.s of Ilie Cofflpaiiics Act 2006, present their report with the financial slatcmcnls of the charity for the year ended 3 1st March 2024. The trustccs have adopted the provisions of Accounting and Reporting by Charitie5'. Sialement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). oRtECTIVES AND ACTIVITIES Objectives and aims The objectives and aims of the charity as sel out in the Mernorandum and Articles of Association are as follows.. To relieve poverty by the provision of quality affordable furniture and household goods lo members of the local community who are in need. 2. To conduct research and collect information in order lo educate the community about the economic, social and environmental benefits of re-use and recycling and the reduction of pollution and protection of the environment that results from these activitie5. 3. To conserve and protect the physical and natural environment by the promotion of sustainable waste management practices in accordance with the best practicable environmental option. 4. To relieve unemployment by improving the employability of disadvantaged individuals through the provision of work placement, training and volunteering opportunities. The trustees have referred lo the guidance contained in the Charity Commission's gcncral guidance on public benefit when reviewing the charity's aims and objectives and in planning future activitics. In particular, the trustees consider how planned activities will contribute lo the aiTn5 and objectives they have sel. Overview of the Year It was a year of 501 id performance in our core opeTational areas of bulky household waste. voids and general house clearance, sofa deconstruction, and the retailing of recycled and upcycled g(iods. The repair and reuse centre with community cafe al Buckley, while fulfilling its social and environmental functions successfully, was subject lo review in the later part of the year and required an adjustment of organisation and focus lo ensure its future viability. We were able to make good progress across a range of important projects with the consistent themes of waste prevenlion, repair. re-use, inclusivity and comrnunity engagement. Our overriding consideration throughout the year continued to be to safeguard the health, safely and wellbeing of our staff, our volunteers. our customers, and our other stakeholders. Our achievemen15 in the year are described in detail later in the report. Piiblic Benefit Statement Our charitable objectives are as slated above. Statemellt of Compliallce The Trustees have referred lo the Charity Commission's general guidance on public benefit when reviewing 2023-24 activities and making plans for future periods and believe that they have complied with their duty to have due regard lo this guidance. In particular, the Trustees have considered how all the organisation's activities contribute to the charitable objectives. All the Trust's activities focus on improving the quality of life for people and the places in which they live focusing on the m05t disadvantaged people and places in Wales and England. Identifiable Benefits In lems of identifiable benefits, Refurbs delivers piojecls and programmes, manages contracts, and delivers services according lo its objectivcs, with the resulting benefits of reduced enviro[nental itnpacts aiid greener communities across North Wales, rcducing carbon emissions to help to tackle climate change. Rcfurbs aims lo help the public to make sustainable development a reality. respecting nature's limits and 5UPPOrting the Welsh Govemmenl's commitment lo future generations. Page I
REFURBS FI.INTSIIIRE REPORT OF THE TRUSTF.ES FOR THE YEAR ENDED 31ST ttrlARCH 2024 Beiiefit to tl)¢ Public Our approach is alivays lo work in partnership with others from the public, private and voluntary sectors. to add value to wider plans for rnaximum impact to the public. Our role in Ihcse partiiersliips is usually lo find ways of helping deprived or disadvantaged local people lo gel practically involved in decisions and actions. As Such, our work is designed lo address the needs of all sections of the community, and we provide equal access lo our services regardless of race, gender, disability or sexual orientation. Achievement5 and Performance on Charitable Activities Main Operations The charity has continued lo collect bulky houbehold waste and to redi.stribute household goods lo lower income households at affordable prices. Thcse redistributed IIou5ehold goods might otherwise have been di5caided as wa5t¢ lo landfill. Following the successful tender in May 2018, Refurbs has also continued to deliver cleaning and clearance services for Flinlshire County Council's (FCC) void properties. This contract was for an initial period of two years and ha.s been subject to a 5erie5 of fixed lemi extensions. Our sofa deconstruction offering eontinued to show the value of parmership working alongside Flintshire County Council. There has been an increase in the number of 50fas included in the bulky collection and those which could not be recycled were channelled lo the Oakenholi site where the sofa deconstruction team are based. Legal restrictions relating lo the use and presence in upholstered dotnestic seating of persistent organic pollulanls {POPs) which apply in England are yet lo be implemented in Wales. This could have serious implications for operitions and associated costs at Refurbs, in particular bulky waste and sofa deconstruction. A walehing brief is being maintained. The retail business continued to operate successfully at the Flint site throughout the year, but the Henblas Sireel outlet in Wrexham proved unviable and was closed in September. Online Sales in particular through the Facebook marketplace have cxpandcd successfully. New internal systems introduced in 2022_23 operated throughout the year providing an improved service to both the council and lo customers, enabling the fluctuations in stock and potential over-crowding of the warehouse lo be monitored and managed, and ensuring a logical placement of items within the three showrooms. Acros5 the Group the accuracy of financial infornialion and quality of financial managetnent has improved. In the case of Refurbs this has enabled a more forensic and comtnercial understanding of the costs and viability of the different areas of business and will help inforni the renegolialion of, and relendering for, contracts in 2024-25 and future years. Buekley Repair snd Reuse Centre with Cotllmllnity Cafe The successful establishment and early months of operation ofihe centre and cafe, which are in the ownership of Refurbs, were heraldcd in the 2021-22 and 20?2-23 annual Iruslees report. The cenlie has beeome a focal point for the local community and great relationships have been fomied. The centre continues lo fulfil ils objective of promoting education and behavioural change on wa51e and recycling initiatives, as wcll as providing volunteering opportunities for local people. An extensive programme of repair, recycling, and upcycling workshops and sessions has been run successfully throughout the year. The cafe complements the ccntre and provides the opportunity for quiet enjoyment and social inleraclion. However, with our improved understanding of the financial dimension of the business. il became ele2r that the Buckley establishment, in particular the cafe, were running al a loss. To ensure it% future viability and sustainability it was necessary to implement appropriate remedial measures including changing staffing arrangements and revising the use of the sile to operate three day5 as a cafe and three days as a centre for projec15. The situation will be kept under review and further revised as necessary, but we are confident that things are moving in the right direction. Commulllty Fridge With funding froTll Hubbub brought fonvard from 2022_23 il enabled us lo continue our wa51c food .subscriplion which as well as easing the food poverty challcnge in the community, benefits the natural environtnent by reducing food waste Page 2
REFURBS FLINTSUIRE REPORT OF THE TRUSTEES FOR THF. YEAR F.NDED IIST l.RCH 2024 disposals lo landfill and ¢onsequenl grccnhouse gas emissions. In April 2023 we were awarded a further grant from Welsh Government Landfill for the period April 20?3 until Marcli 20?5, with this w'e hai'e been able lo maintain and improve our community fridge service al the Refui'bs sile in Flint. Thc WG Laiidfill funding is delivering a projeul called Making Food Go Further, with the aim of reaching 250 residents of Flintshire County and reducing food waste (and addressing food poverty} through Nnning.. educational community sessions on how to make best use of surplus food and the differences between besl-before- Use by awareness-raising cainp2igns, and community food drives to collect unwanted store cupboard essentials for our community fridge which would otherwise go lo waste. The project has funding for a part-time coordinator to deliver the service and drive more waste food into the fridge as well as educate and iiiforni the community about using surplus food sources. Another objective has been lo bring volunteers on board with a view lo developing the community fridge into a volunteer- led hub witliiii the community. At present we have 3 voluntcers supporting the servic¢ weekly. Paint Pilot With funding from our eontracl with Clywd Alyn Housing Association the Painl Pilot programme was 8ucces5fully concliided for the year, and included work Lllldertaken at Llys Emlyn (c£ Iokl which was fiinded by Clywd AIyii'5 general maintenance fund as it was outside the scopc of the housing benefit funded activity. Our more forensic understanding of costs and viability will inform our negotiations for the 2024-25 contract which are under way. Woodshed For most of the year our Woodshed project has continued with a minimum of15 adults alleiiding each week and a constant stream of interest and referrals coming through. More than ever before our communities need projects like this to lift Ihcm out of the doom and gloom going on in their daily lives. All money made from sales of items has gone back into this programme. which has brought a much_needed lifeline for most of the volunlccrs who have attended. A donation of £500 from Galla(Flier Insurance (GWNW Group's insurers) fiinded new eqliipmeiil, which significaiitly improved productivity. Previously Woodshed has been funded through ACL bul unfortunately the available funding has been exhausted and lo secure further ACL funding would require a change of fonnat with the focu5 on 5kill-building and not on social isolation. Every effort is being made to secure the further funding needed to enablc us to continue to provide benefits lo different groups with different needs. Volunteering in Wales With funding of £l1.5k brought forward frotn 2022-23, this project continued to deliver volunteering opportunities, with the primary focus being for 16-24-year-old refugees who have rccenily reseiiled in North Wales. Not all the volunteers were refugees- 501ne were young people just generally struggling with mental health. Overall, we engaged with 30 young people all experiencing different challenges. The project offered a range of activities that provided personal and emotional support lo build confidence and knowledge lo support resetilemenl and resilienee. Swap Shop In November 2023 we secured £1 Ok of funding from Lottery Community Fund. This funding was for the creation of a clothing and accessories swap shop to be based at our Buckley Repair and Reuse centre. The project provides the community with an opportunity to come together. share and recycle items of clothing. Eiicouraging and increasing the lifespan of clothing in this way decreases the amount of ¢lothe5 going lo landfill and help5 people and families sai"e money by swapping items of clothing. Other Projects March 2024 has seen small pockets of funding coming in lo continue to deliver community support from the Recycle & Reuse centre in Buckley. Winter Warmers funded by CO-OP has providcd warni lunches every Monday free of ¢harge to over 50s and SainsbLlry'S gi'ant has provided money for this lo continue into April 2024. Estate of Peter Jone5 Legacy We are iiidebted to the Estate of Ihc lal¢ Peter Jone.$ for two gcncrous legacy donations atnounling to £35k and will ensure that the sutn is used in accordance with their expressed wishes for the purpose of residents in Flint to benefit from recycled items, especially bicycle recyeling. We are now using this ndIng to support our Bike Shed and offering recycled bikes al affordablc prices and in 2024 will bc offering maintenance courses for local people to coine and learn new skills and receive a recycled bike. Page 3
REFURBS FLINTSHIRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST ttrlARCH 2024 Financial review Financial position We Iiave been able 10 5¢cure total income for the year 2023-24 of £849,393 The main sources of funding haN'e been.. Local Authorities Housing Associations Cliaritable Trusts Retail Sales 524,295 56,928 64,691 203,479 Achievements and Performance People helped to rcducc waste from Landfill Waste diverted from Landfill - Waste diverted /removed from public Space People supported lo make Greener Choices - Food wastelsurplus redistributed CO? savings From Waste Food distribution - Members of Community Fridge- Volunteers Engaging- 2,412 119 lonnes 379 lonnes 2,736 4.759kgs 1,897kgs 181 member5 to date 37 regular volunteers donating 814 hours of lime. Reserves policy The charity's reserves are generated from unrestricted sources: grant income, donations, trading activities and fundraising. The reserves policy of Ihc charity is reviewed periodically. The Board of Trustees has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be of sufficient magnitude lo meet a range of unpredictable expenditure and other emeFgencies, such as a significant drop in funding. The tru5tccs havc continued to review the charity's requirements for reserves considering the main risks to Ihc charity and have set 2ppropriate budget5 to maintain sufficient reserves in the future. The trustees discuss the level of reserv¢5 at their meetings based on reports produced by the 0, which allows them lo monitor and manage the reserves. Following a fortnal revicw of the reserves policy during 2022-23 the trustees resolved that the appropriate level of unrestricted reserves would be a minimum of 3 months of unrestricted expenditure. The current level of r¢5erve5 falls margiiially short of this target. However, the trustees are of the opinion that there are sufficient funds lo meet the obligations of the charity on a fund-by-fund basis and action is being taken lo ensure that appropriate levels of reserves are mel going forward. Financial Strategy Essential components of our 51ralegy are that full cost recovery is achieved, that our organisations continue to build their reserves and that good cash flows are maintained. To this end we will endeavour to: ensure we have sufficient working capital, no less than 3 months. by building our unrestricted reserves ensure we have the right pri)duct and service mix between grant and non-grant fundcd activities so as lo reduce financial risk develop our product and service offer to ensure we cover our costs and remain financially viable Through our annual business plans we aim lo move towards a more sustainable future for the group and for Refurbs as an enlily. Financial and Risk Management Objectives and Policies Financial Instruments The charitable Lompany's operations expose il lo a variety of financial risks including price risk, credit risk, liquidity ri sk and cash flow risk. The charitable company's piincipal financial in51rumenls comprise sterling bank accounts together with trade dcbtors and trade creditor.£ that arise directly from operations. Page 4
REFURBS FLINTSHIRE REPORT OF THE TRUSTEI ES FOR THE YEAR ENDED 31ST IWIARCH 2024 Price risk - Price risk is managed by monitoring the market, current rates of i iiflation and costing products and services in accordance with these factors. Credit risk _ Credit risk is mitigated by monitoring and managing the credit limits given to our customers. Liquidity risk - Liquidity risk is managed by maintaining a balanced mix of income streams, with a restriction on the number of contracts based on payment by results or where payment is in arrears al any one time. CRsh l]ow risk is managed through our credit management procedures, c&5h flow forecasting and negotiation of payment lernis where practicable. Risk Nlanauemenl Tlie trustees review the risk register regularly and consider the major risks lo which the group is exposed via the GWNW Group Board s Risk Assurance Sub-Group. The principal risks lo Refurbs and the Groundwork North Wales Group are- Failure lo secure funding to fulfil the organisalion's busilless plan. Failure lo deliver targets in payTneiit by results contracts. Failure 10 Secure match funding where match funding is an essential aspect of the grant. Poor performance or dissatisfaction with the quality of delivery. Reputational and financial issues experienced by other Groundwork trusts. Plans for Future Periods The cliaritable group's plans for the forthcoming year arc to review ils activities in line with the charitable objects and lo prioritise the developmenl of those areas where the greatest growth and irnpacl on the ground can be achieved. A strategie plan for 2024_2027 has beeii devcloped and approved by the Board and will provide the framework and direction for future bu5ine5s activities. Improved financial systems and financial management capacity within tlie GWINtW Group will ensurc a better understanding of the financial aspeels aeross the range of the Refurbs business and will support future business decisions. STRUCTURE, GOVERNANCE AND LWtAP4AGEMENT Govertiillg Document The charity was established by ils governing document, a deed of trust, and constitutes a limited company, limited by guarantee. 2s defined by the Companies Act 2006. The charity is controlled by its Memorandun] and Articles of Association dated 5 February 200? (and amended on 14 June 2004, 2 June 2009, 22 February 2018, and 6 October 2021). Tlie most recent amendments made lo the Articles in October 2021 were to extend the area of benefit lo Wales and England, to make provision for the holding of an AGhl, and lo align the appointment term of trustees with the three-year lenn applied by the holding company. Groundwork North Wales. All Ilie members of the company agree to contribute £10 in the event of the charity winding up. The company is registered with the Charity Commissioners. Retruitment and Appointtnent of Neiy Trustee5 Tlie di rectors of the company are also the charity'5 trustees for the purposes of charity law and under the company's Articles are known as trustees. Under the requirements of the Mernorandum and Articles of Association, the trustccs are not required lo retire by rolalion and there must be a minimum of two trustees and a maximum of twelve trustees. All members of the Board of Trustees give their lime voluntarily and received no benefils from the charity. Any expenses reclaimed from the charity are set out in note 9 10 the accounts. Business and rnanagerial skills are represented on the Board of Trustees and in an effort to maintain this skill mix, in the event of particular skills being lost due to retirement of the relevant trustee, other individuals with equivalent skills are approached lo offer themselves for election as a trustee. Page 5
REFURBS FLINTSHIRE REPORT OF THE TRUSTEES FOR THE YEAR FNDED 31ST lARCH 2024 STRUCTIIRE, GOI RNANCE AND I11.4NAGENIENT Organisational Structure and Deci5ion-Makinu Poivers The Group Board retains authority for the overall strategy and policy of the Trust and approves the Strategic Plan as well as the annual Biisiness Plan. The Board delegates decision making powers to the Chief Executive and lo two subgroups: Ilie Finance and Human Resources {HR} Sub Group and the Risk Assurance Sub-Group. A Board Trustee chairs each Sub-Group and the mcmbers of the Sub-Group are appointed by the Board. Temis of Reference lor the Sub-Groups sel down their delegated authority frotn the Board and specify limitations on the authority for matters which the Board reserves lo itself. Fillallce & HR Sub-Group The Finance and HR Sub-Group is responsible for reviewing the management accoiinls, amendments to policy and matters appertaining lo the remuneration and welfare of the trust's staff. KL meets four limes a year in between thc quarterly board meetings. Risk Assurance Sub_croup The Risk Assurance Sub-Group was established during 2022-23 10 monitor and provide a8surance on the GWNW Group of trust5, principal risks and stipporting risk managen)eiit processes. Tl)e SLib-Groiip's reniit incliides the health & safety risks, practices, and perforniancc. It also meets four limes a year ahead of the quarterly board meetings. Induction and Training of Trlew Trustees New members of Ilie Board of Trustees are provided with the Charity Commission's guidaii¢e'. 'The Essential Trustee: What you nced lo kiiow,. What you need lo do" and a full pack of other trust docutncnts such as the latest annual report and accounts, risk register and busiiiess plan. New Trustee5 hai'e an induction meeting ivith the Chief Executive, members of the Senior Management Team and the Chair of the board of Trustees. Most trustees are alieady familiar with the praelical work of tlie charity, being involved with the charity. All new Iru51ees are invited and encouraged to allend a training tneeting to familiarise themselves with the charity and thc context within which it operates and covers: The obligations of Board of Trustees. Directors and Members. The main document5 which set out the operational framework of the charity including the Memorandum and Article5 of Association. Resourcing and the current financial position as set out in thc lalesl published accounts. Risk Management The Irustec5 have a duty to identify and review the risks to which the charity is exposed and lo ensure appropriate controls are in place to provide reasonable assurance against fraud and eOr. All procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. Governance RevieTrv A comprehensive revicw of the governance of Refurbs Flintshire and the rcst of the Groundwork North Walcs Group of Trust.5 was conducted iii 2020-21 using Ilie fratnework for governance reviews issued by Groundwork UK for use across the Groundwork Federation. While the findings were generally positive a number of improvement actions were identified which were approved by the Board. Their full implementation was completed in 2022-23. Page 6
REFURBS FLINTSHIRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 REFERENCE AIN'D ADNIIN'ISTtL4TIVE DETAILS Registered Company number 04367121 (England and Wale5) Registered Charity nuniber 1093176 Reoistered office Unit 1-3 Aber Park Aber R02d Flint Flintshire CH6 SEX Trustees M Booker Retired S Moore Retired H E Wright Retired N F Reader Retired REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Joanne Evan5 FCCA, ACA M. D. Coxey and Co. Limited Chartered Accounlanls 25 Grosvenor Road Wrexham LLII IBT BAnkers National Westminster Bank plc 33, Lord Street Wrexham LLII ILP Report of the trustee.s, incorporating a strategic report, approved by order of the board of trustees. as the company directors, on 28, November 2024 and signed on the board's behalf by- N F Reader - Trustce Page 7
INDEPENDENT EXA.lI1ER,s REPORT I'O THE TRUSTEES OF REFURBS FLIP4TSHIRE Independent exAminer's report to the trustees of Refurbs Flintshire ('the Companj ) I report lo Ilie charity trustees on my examination of tlie ac¢ounts OF Ihc Company for the year ended 31st March 2024. Responsibilities and basis of report As tlie cliarity's Iruslees of the Company {and also ils directors for the purposes of company law) you are responsible for the preparation of the account5 in accordance with the requirements of the Companies Act 2006 ('Ihe 2006 Act,). Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for iiidependenl examination, I report iii respcct of my examination of your charity's accounts as carried out under section 145 of the Charilic5 Act 2011 {'the 2011 Aci,). In carying out my examination I have followed the Directions given by the Charity Commission under seetion 145{5) {b) of the 2011 Act. Independent eyaminer's statemellt Since your charity'5 gross incotne exceeded £250,000 your examiner musl be a member of a listed body. I can confimi that l am qualified to undertake the examinition because l am a rcgislered member of FCCA. ACA which is one of the listed bodies. I have completed my examination. l eonfirni that no matter5 have come lo my attention in connection with th¢ examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,. or the aecounls do not accord with those records. or 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 a5 part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Sialemenl of Recommended Praelice for accounting and reporting by charitie5 (applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concems and have come across no other matters in connection with the examination lo which attention Should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Joaniie Evans FCCA, ACA M. D. Coxey and Co. Limited Chartered Accountants 25 Grosvei)or Road Wrexham LLII IBT Date.. 28 November 2024 Page 8
REFURBS FLIINTSHIRE STATEfvIENT OF FINANCIAL ACTIVITIES (tNCORPORATING AN IIYCOLNIE knND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2024 31.3.24 Total fund5 31.3.23 Total funds Unrestricted Restricted fund fund Notes INCOME AND ENDOWMENTS FROM Doiialions and legacies Otlier trading a¢tivities Investment income 419,266 372,054 30 58,043 477,309 372,054 30 4?3,480 340,030 23 Total 791,350 58,043 849,393 763,533 EXPENDITURE ON Raising fuiid. 115,005 115,005 93.441 Charitable aetivities Office eosts Wage costs Project costs 217,949 448,900 217,949 474,481 55,452 162,272 464,4lO 80,183 25,581 55,452 Total 781,854 81,033 862,887 800,306 NET INCOME 9,496 (22,990) (13,494) (36,773) RECONCILIATION OF FUNDS Total funds brought forward 121,868 427.962 549.830 586,603 TOTAL FUNDS CARRIED FORWARD 131,364 404,972 536,336 549,830 The notes lonn part of thesL tinuncial staiell)ettts Page 9
REFURBS FLINTSHIRE BALANCE SHEET 31ST MARCH 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund fund Notes FIXED ASSETS Tangible assets 12 21,684 379,039 400,723 432,568 CURRENT ASSETS Stocks Debtors Cash at bank 2nd in hand 13 14 41,892 97.470 107,142 41.892 97,470 133,075 42,657 102,627 123,573 25,933 246,504 25,933 272,437 268,857 CREDITORS Amouiits falling due within one year 15 (136,824) (136,8241 {151,5951 NET CURRENT ASSETS 109,680 135.613 117,262 TOTAL ASSETS LESS CURRENT LIABILITIES 131,364 404,972 536,336 549,830 NET ASSETS 131,364 404,972 536.336 549,830 FUNDS Unrestricted funds Restricted funds 16 131,364 404,972 121.868 427,962 TOTAL FUNDS 536,336 549,830 The ¢haritable company is enliiled to exemption from audit under Se¢tion 477 of the Companic5 Act 2006 for the year ended 31 st March 2024. The meinbers have not required the company to obtain an audit of its financial slalements for the year cnded 3 1st March 2024 in accordance with Section 476 of Ihc Companies Act 2006. The trustees acknowledge their responsibilities for (a} ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and {bl preparing financial statements which give a true and fair vicw of the state of affairs of the charitable company as al the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating io financial stalemenls, so far as applicable to the charitable cotnpany. The financial statements were approved by the Board of Trustees and authorised for issue on .2024 and were signed on its behalf by.. N F Reader - Trustee The noies fomi part olihese financial siaieinentS Page 10
REFURBS FLINTSHIRE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2024 31.3.24 31.3.23 Notes Cash flows from operating activities Cash generated from operations Nel cash provided by operating activities 42,316 Cash flows froni investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received (16.983) 7,000 30 (483) 23 Net cash used in invcsting activities 9.953) 460) Chae in cash 8nd cash equivAlellt5 ill the reporting period Cash and cash equivalellts at the beginning of the reporting period 9.502 41,856 123,573 81,717 Cash and eash equivalents at the end of the reportillg period 133.075 123,573 The lloies fom) part ot these fiDancial ststements Page 11
REFURBS FLINTSHIRE NOTES TO THE CASH FLOW STATEfvIENT FOR THE YEAR ENDED 31ST lARCH 2024 RECOIICILIATION OF NET INL COINIE TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net income for the reporting period (as per the Statement of Financi21 Activities) Adjustments for: Depreciation charges tnleresl received (Increase)/deereasc in stock. Decrease/(increase) in debtors (Decrease)/increase in creditors Profil on sale of assets Fixed Asset adjuslmenls (13,494) (36,773) 42,464 (30) 763 5,157 (14.771} (173) 461 43,916 (14,?86) 15,875 33,607 Net cash provided by operations 19,455 42,316 ANALYSIS OF CHAf4GES IIY NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net eash Cash al bank and in hand 123,573 9.50? 133,075 123.573 9,502 133,075 Total 123,573 9,502 133,075 The rtotes fotjn part olthese fanLIal slat¢tt)ents Page 12
REFURBS FLINTSHIRE NOTES TO THE FANCIAL STATEMENTS FOR THE YEAR EP4DED 31ST MARCH 2024 ACCOUNTIYL G POLICIES Basis of preparing the financial statements Tlie financial statements of the charitable company, which is a public benefit entity under FRS 102, have becn prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities= Statcmenl of Recommended Practice applicable lo charities preparing their accoun15 in accordance with the Financial Reporting Standard applicable in the UK and Rcpublic of Ireland {FRS 102) {effeclive l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The company's presentational currency is pound sterling. Income All incornc i.s recognised in the Sialemenl of Fiiiancial Activitics once Ilie cliarity lias entitlement lo the funds, it is probable that the income will be received and the amount can be measured reliably. Income is measured al the fair value of the consideration received or receivable, excluding discounts, rebates, value added lax and other sales taxes. Expenditure Liabilities are recognised as expeiiditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, il 15 probable that a transfer of economic benefits will be required in settlement and the amount of Ilie obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost rclaled to the category. Where c051s cannot be dircctly attributcd to particular headings they have been allocated lo activities on a basis consistent with the use of resources. T8ngible red assets Depreciation is provided at the following annual rates in order lo write off each asset over its estimated useful life. Freehold property Fixtures and fillings Motor vehicles 2 /0 on cost 200/0 - 33 /0 on cost 200/0 on ¢05t Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asscl over its estitnaled useful life. Stocks Stock5 are valued at the lower of cost and net realisable value. after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from corporation tax on ils charitable activities. Fund aeeounting Unrestricted funds Can be used in accordance with the charitable objectives al the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fund5 are raised for particular re.%lricled purposes. Further explanation of the nature and purpose of each fiind is included in thc notcs to the financial statements. Hire purchase and leasing Commitments Rentals paid undcr operating leases are charged lo the Statement of Financial Activities on a straight line basis over Ilie period of the lease. continued Page 13
REFURBS FL1Tr4TSHIRE NOTES TO THE Fif4ANCIAL STATELWIENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES - continued Pension costs and other post-retirement benefits The charitable company operates a defined conlributioti pct15ion Scheme. Contributions payable to the charitable company's pension scheme are charged to the Sialement of Financial Activities in th¢ period to which they relate. DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations Grants Other income l94,396 72,299 210,614 168,939 80,920 173,621 477,309 423,480 Grants received, included in the above, are as follows.. 31.3.24 31.3.23 Flintshire County Council WCVA LFT- Community Fridge WCVA Landfill Tax- Repair & Reuse Cafe WCVA Landfill tax - Bicycle Recycling {accrued) Coop Community Fridge COOP Winter Wamers Big Lollery Swap Shop Bike Project Tesco Make & Munch JHR Tru.sl Foodbank Voucher Scheme Hubbub Community Food Hub Crowdfunding Postcode Lottery Winter Wam]ers Volunteering in Wales 14,467 39,907 14,467 8,729 1,950 I,000 3,526 9.994 6,000 1,000 1,050 5,210 604 19.264 21,646 2,000 2,405 72,299 OTHER TIL4DING ACTivrrIES 31.3.24 31.3.23 Furniture sales Waste collection & management Distribution and carriage Surplus on sale of assets loo 361,757 10,024 173 9.317 323.664 7,049 372.054 340.030 continued Pag¢ 14
REFURBS FLINTSHIRE NOTES TO TUE FINIKNCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 INVESTINIENT If+4COINIE 31.3.24 31.3.23 Deposit account interest 30 23 RAISING FUNDS Other trading activities 31.3.24 31.3.23 Purchases 115,005 93,441 CHARITABLE ACTIVITIES COSTS Support costs (see note 7) Direct Costs Totals Office costs Wage e051s Project costs 212,508 474,481 5.441 217,949 474,481 554.452 742,441 5,441 747,882 SUPPORT COSTS Governance C051s Office costs 5,441 NET bNCOMEI(EXPENDITURE) Nel incomel(expendilure) is staled after charging/(crediling)- 31.3.24 31.3.23 Depreciation - owned assets Other operating leases 42,464 79,239 43,916 76,096 TRUSTEES, REMUNERATION AND BENEFrrs There weie iio tru5tees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses Trustee expenses amounted to £nil during the year (2023.. £nil). cunlinu¥d Page 15
REFURBS FLINTSHIRE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST NL4RCH 2024 10. WAGE COSTS 31.3.24 31.3.23 Wages and Salaries Social security costs Other pension costs 433,944 26.440 14,097 4?5,701 26,301 12,408 474,481 464,410 The average monthly number of einployees during the year was as follows.. 31.3.24 21 Refurbs Flintshire 25 No employees received emoluments in excess of £60,000. I I. COMPARATIVES FOR THE STATEMENT OF FIINANCIAL ACTIVITIES Unrestricted Restricted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 364.631 58,849 423,480 Other trading activities Investmcnt income 340,030 23 340,030 23 Total 704,684 58,849 763,533 EXPENDITURE ON Raising fund5 93.441 93,441 Charitable activities Officc costs Wage costs Project costs 16?,272 429,851 162,272 464,410 80,183 34,559 80,183 Total 685,564 114,742 800,306 NET INCOME 19,120 (55,893) (36,773) RECONCILIATION OF FUNDS Total funds brought forivard 102,748 483,855 586,603 TOTAL FUNDS CARRIED FORWARD 121,868 427,962 549,830 ontinued Page 16
REFURBS FLINTSHIRE NOTES TO THE FINANCIAL STATEfvIENTS- continued FOR THE YEAR ENDED 31ST fvIARCH 2024 12. TANGIBLE FIXED ASSETS Fixtures and ritlings Freehold property Motor vel)icles Totals COST Al 1st April 2023 Opcniiig balance adjustments Additions Disposals 415,543 98,4?8 (619) 483 29,969 543,940 (619) 16,983 12,800) 16,500 12.800) Ai 31st Mareh ?0?4 415,543 98.293 33,669 547.505 DEPRECIATION Al 1st April 2023 Opening balance adjustmcnls Disposals Charge for year 30,499 61,300 (1,080) 19,573 111,37? (1,080) (5,973) 42,464 (5,g73) 5,220 24,269 12.975 Ai 31st March 2024 54,767 18,820 146,78? NET BOOK VALUE At 31 sl March 2024 360,776 25,098 14,849 400,723 Al 31st March 2023 385,044 37,128 10,396 432,568 13. STOCKS 3l.3.24 31.3.23 Stock5 42,657 14. DEBTORS: AMOUNTS FALLING DUE IVITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued incotne 58,998 35,000 2,625 847 49,139 35.000 2,6?5 15,863 97.470 10?,627 coniinued Page 17
REFURBS FLINTSHIRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors Social security and other taxes VAT Accrued expenses Deferred Income 51,028 6,678 19,527 23,159 36,432 53,548 5,312 15,737 51,998 25,000 136,824 151,595 16. MOVEMENT IN FUNDS Nel movement in funds Al 31.3.24 Ai 1.4.23 Unrestricted fuud5 General fund 121,868 9,496 131,364 Restricted funds Restricted 427,962 (22,990) 404.972 TOTAL FUNDS 549,830 13,494) 536,336 Net movement in fund5, included in the above ar¢ as follows.. Incoming resources Resources expended Movement in fund5 Unrestricted funds General fund 791,350 781,854 9,496 Restricted funds Reslrieted 58,043 81,033 (22,990) TOTAL FUNDS 849,393 862,887 13 494) Comparatives for movement in funds Nel movement in funds At 31.3.23 Al 1.4.22 Unrestricted fund5 General fund 102,748 19,120 121,868 Restricted funds Restricted 483,855 (55,893) 427,962 TOTAL FUNDS 586.603 36,773) 549,830 continued Page 18
REFURBS FLINTSHIRE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 Comparative nel tnovemenl iii funds, included in the above are as follows: Incoming resources Rcsources expended Movement in funds Unrestricted funds Genei'al fund 704,684 {685.564) 19,120 Restricted funds Restricted 58.849 (114,742) (55,893) TOTAL FUNDS 763,533 16. MOVEMENT IN FUNDS - colltinued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 1.4.22 31.3.24 UDre5tricted funds General fund 102,748 28,616 131,364 Restricted funds Restricted 483,855 (78,883) 404,972 TOTAL FUNDS 586,603 50,267) 536,336 A current year 12 months alld prior year 12 months combined nel movement in funds. included in the abovc are a5 follows- Incomin¥ resources Resources expended Movement in funds Unrestricted funds General fund 1,496,034 1.467,4l8 28.616 Restricted funds Rcslricted 116,892 195,775 (78,883) TOTAL FUNDS 1,612,926 1,663,193 50,267) Unrestrieted Reserve$ Group fund is an unrestricted reserve which represents the surplus amounts Caled fonvard lo future period5 for general Spending on sile maintenance and other Costs determined by the Board of Trustees. The receipt of funding lias not been conlingenl on the resource5 being expended for any purpose other than that detennined by the Board of Trustees. continued Page 19
REFURBS FLINTSHIRE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 17. ULTIMATE PARENT COMPANY The company is under the control of Groundwork North Wales, the pa1 charity. Groundwork North Wales is a registered charity, number 1004132. Its Company Registration Nutnber 15 02614714. The charity has the following aims and objectives.. The registered office for Groundwork North Wales is 3-4 Plas Power Road, Tanyfron, Wrexham, LLI16PW. Improve people's prospects by incre&sing the confidence, skills, well-being and employability ofthose furthest removed from the labour market, in particular young people,. Create better places- by helping people to work logethcr to make their surroundings greener, safer and healthier and gel involved in the way decisions are made about services in their area- Promote greener living and working - by helping people and businesses leam more about their environmental impact and act re5pon5ibly to reduce natural resource use and improve health. 18. CAPITAL COMMITMEf4TS 31.3.24 31.3.23 Contracted but not provided for in the financial statements 19. RELATED PARTY DISCLOSURES During the year the charity purchased services and delivery and overhead recharges from the parent charity amounting to £146,765 (2023: £84.251) and credited services and delivery lo the parent charity amounting to £4,688 (2023.. -£1,901). Trade creditors include a related paty balance with the parent charity of £35,168 (2023.. £20,831). Trade debtors include a related paty balance with the par¢nl charity of £83 {2023- £3,240). 20. LEGAL STATUS OF THE CHAIUTY The charity 15 a company limited by guarantee 2nd has no share capital. Every member promises, if the charity is dissolved while they remaiii a member or within l2 months of their resignation as a member. lo pay up to £1 O towards the cost of dissolution and the liabilities incurred by the charity. Page 20
REFURBS FLINTSHIRE DETAILED STATEMEINT OF FINANCIAL ACTIVITIES FOR TIIE YEAR ENDED 31ST LRCH 2024 31.3.24 31.3.23 Ir*COIWIE ENDOIVINIEP4TS Donations aiid legacies Donatioiis Grants Other income 160,202 168,939 210,614 173,621 443,115 423,480 Other trAding activities Furniture sales Waste collection & management Distribution and carriage Cafc Cyfle 34,294 361,757 10,024 173 9,317 323,664 7,049 406,248 340,030 Investment income Deposit account interest 30 23 Total incoming resourte5 849,393 763,533 EXPENDITURE Other trAding aetivities Purchases Charitable activities Wages Social 5e¢urily Pcnsions Other operating leases Rates and water Insurance Light and heal Telephone Postage and stationery Advertising Sundries Motor and travel expenses Health and safety Software and rr support Repairs and renewals Protective clothing Security Training Subscriptions Management charges Equipment hire Bad debis Fixtures and fittings I15.005 93,441 433,944 26,440 14,097 79,239 3,910 12,734 14,357 2,269 3,003 779 1.075 38,098 4,650 5,836 7,126 3,416 1,457 130 4,849 48,000 252 425,701 26,301 12,408 76,096 8.668 8.368 8,668 8,136 2,281 2,431 1,657 30,359 1,607 2,390 3,236 3,057 1,857 ?,798 24,000 120 1,233 43,916 742,442 695,288 Support costs Governance costs Bank charges Profcssioiial fees Auditors remuneration 343 3,348 1,750 2,762 7,065 1.750 5,441 11.577 Total resources expended 862,888 800,306 r4et income This page does not torD] Palt of the ststutory finiincial 5taleD]ellts Page 21