Charity iegistration number 1096086 IEngland and Wales) Cornpany reg15tratlon number 04375649 9 LIVES FURNITURE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9 LIVES FURNITURE LEGAL AND ADMINISTRATIVE INFORMATION Trusto0s Irvin Cohen R05ernary Hadfield M.B.E Andrew Blatherwick Davitj Sliaipe Sergio Mus51 Donald Milligan Paul Redin9ton Robyn Sutcjiffe Isab81 Montesdecca Jayne Cook (Appointed 11 February 20251 IAppolnt8d 11 February 20251 (Appointed 29 April 20251 Chalr Andrew Blatherwick TYoa&urer Irvin Cohen 8enlor management Sharon Hurfor¢l General Manager Charlly numb•r (England and Wal9$1 1096086 Company number 04375649 Reglstered offlc• 25 Whtrf Lan8 Rickmansworth Hertlord5hSre WD3 1HA Independent examiner John Wilson FCA ATII Howard Wilson Chari8r8d Accountants 38 Crown Rise Watford Hortlordshlre WD25 ONE Bank9rs CAF 881)k 25 Kings Hlll Av#nue West Malling Kent ME104JQ
9 LIVES FURNITURE CONTENTS Page Trustees. Ipport Ind8p8ndent exatnlner's report Stslemenl of financial activlties Balance sheet Noles lo the flnan¢lal 81al8m8nl8 1Q-19
9 LIVES FURNITURE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Th8 Truste8s pr85ent Iheir repDrt and linanaal 5tatern8nis for the year 8nded 31 March 2D25. The fin8nei81 ststemeni$ have been prepared in 8c¢ord8n¢e with the 8¢¢0unb"ng poli¢ies set out in note I to the fin8nci81 slatetnenls and cotnply wilh the charitable company's Articles ol Associats"on, Ihe Cotnpanies Act 20( and"AccDunling and Reporting by Chaiiknes. Statement of Recomtnended Practi applicable to chanlie5 pretkring their accounts in accordance viSlh the Finanaal Reportlng Standard applicable in the UK and Republlc ol Ireland IFRS 1021 leffeclve 1 January 20191 Objectives and activitie The ¢harllable company's objects aro lo help rgsldenls of watrd, Thr99 Rlvfrrs and Ihg surroundlng argss who are In conditions of need, hardship or distress by the provisN)n of furniture and accessorigs and lo provide vocational training, support and work experience for those who volunteer at the scheme. The charity alms to achi8ve the58 oblectlves by.. • Collecting good quantity, eonaled fumiture and olh8r hous8hold offecis which arg no long8r r8quir8d by th8 owners and would otherwise be destined for landfill. This reduce$18ndfill and is good for thè environment by r&du¢ing lh& néèd for naw luinllure. • Displaying lurnnur8 and household effects so that people in need can choose from these and have them delivered lo their hom¢, Il desId. RecNiting and supporting unemplcsyed volunteers, 8pecifi¢ally, but not exclusively, pooplt recovering Irom mental health problems or who have a learning disability. The volunteers are offered training lo enable thèm to gain ¢onfiden¢e and198rn skills Ih81 will prepare Ihem lor work, ¢ilher in furniture reslorolion Dr working in the shop and d6livary van, Strategies fora¢hi¢vino oims &nd objg¢livgs Th8 work ol th8 charily has two CDmpl8mèntary actlvltiés - tha furnlt(Jr8 r8cycllng showroom land associated co118Ctlon and èlivtsry s8Ni¢el and the provision of training urSe$ and work exp&rièn¢e. The objectives for tsad) aclivily lor this year were.. Furniture Recycling.. Increase sal8s lo aehlèvè the alm ol maklng thè fumlturé retycllng bu8inéss 8ell-flnandng. • Maintain subsidis8d sal8s150 /ol for thos8 in naed al currant levèls. Trainlng Cours88 and Vork Experien¢6', • Train students in lurnilura SlOratiOn. Gre8ter ulilisalion ot thè workshop lor addrtional courses. Maintain voluniè8r prograrnme lo fill driver's mate and showroom assisiani positions. • Assist slud8nts and vulunt&ers to movts into further employmtsnt or volunteering rol8s. Raise gronl income lo oover the cost of Ihe ¢OLJrses. Pijblic benofit The Trustees have paid due regard to guidance issued by tre Charity Commission in deciding whal activities the charitable company shoul(J undettske. The Trustees have considered the Charity Commission guidance on public benefit. The charity relie5 on grants and income Iiom furniture sales ¢0 Cover its operational costs. In gtrltlng the lavel ol chargeg for furniture th8 Trustees conslder In& accessibilty of products lor those on low incomes or on benefits. The ¢harity has the main areas of a¢tivily". The collection ol donated g)od quality preloved second-hand furniturè and housèhold goods, saving the88 item$ going lo landfill and h8lping the environment local resoLirces. The sale and delivery of I$e goods from our Rickmansworih showroom, at 8 50YD discount to Ih05e in need and al lull price lo Ihe general public. Providing training and work experien to unemployed adults, includin9 those wlh a leaming disability or recoverin9 from menial ill health. Training courses are provided In fumilure restoration lin the workshop) and many volunieering I work experience roles lin the showroom). as driver's males on the delivery van. in the office and in the workshop.
9 LIVES FURNITURE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Volunl88rs Our volunteers, as always, hava bwn supert).. Administration.. Diane Back Driverfs Males.. Greg Hirst, David Sharpe, Paul Redington, auenb'n Cobharn and Andrew BlatheCk Showroom.. S1eph Busby, C81harine Payne, lan Wyatt. Lou Dossell. Valerie Coh&n. lona Fern8ndes. Brenda Proud. Robert Langford, Liam O'Keefe. Anna Monks, Ed Stanley, P81 M¢Laren-Smith and Carole Davidge. Relurbishmenl.. Phillip Silverton, Lou Doss8lt and Pal8r Pledstead We hava had soma ngw startars during th8 y8ar'. Carly Churchill, chloe Johnson. Marla B8lchèr. Natallè Mèrron and Sara Jarrnan. Thanks lo those who have now18ft.' Wondy Rennoldson, Ann8 Thornil8y, Andraw Thomll8y. Ann8tt8 Timms, Jonathon Monks and Penny IAarriolt. All ol the Trustees h8v• also voluntgor&d in the showroom this year. Qur volunteers work unstintingly for the benefit of the charity. helping with furniluro removal, administration, working in the showroom, lumituré r85toration and cleaning, Tho Trusl88s. who so ably assisl in leading the organisalion, ar8 also volunlggr5 and our thank3 go to Ih8rn. VV8 would a150 like to thank all trose whD donate household goods. Achl•v•m•nts and p•rforrnanc• Significant aclivit16s and achievenwnls again&1 objecllv98 9 Llves Furnitur& has had a significantly bell8r year. Thg sales have been inGrea$ing ovgr Ihg year since our manager ¥rrived. we have inlrodu¢gd ngw media lo soll through. We have been selling a few ilerns al Amersham Auctions who offer u5 8 charity rate. This h85 worked well for u5., they can a150 provld8 us wllh prlclng advic8. Sharon Hurtord has naw been wlth us slnce 2nd January 2024, In April 2024 the clglhing was moved upstairs and book$ hav8 been repo$llion&d. These changes have been very 8ucce8slul and sales have incre85ed. We have run outside courses, which have been successful.. Mosaic Course, run by Lou Dosselt on 13th May Sound 8alh, run by Molly Hurford on 20th Junè OLJr Manager Sharon, Trustees 8nd Volunleors have taken p8rt in many ac11vil$ during the ygar.. On 9tli June we had a stall at'Green' event at Chiltern Open Air Mu5euni Presentation to Horts rg4ftendors AS80 group • Allended a Volunteer Fair, organised by Thr¥e River and Wafford Councils Took part in Christmas Wrapping at the WattDrd Shupping Centre Joined us to Go Herts Volunteers Hosi8d * Black Friday evgnl whieh wa¥ very SUCe8$8lul Three Rivers District Council have provided an employee lo help with our social media training, which Toni & Sharon h8ve benefited from. As 8 result of son)& co$1 ¢ulllno InlatIveS. tho charlty was able lo,, Secure the purchase ol Frenchic painl from a closing down shop al a reduced rale Reduce insurance cost for the van, due to shopping around We also inlroduoed diff8renlSal van delivery ¢harge$, b8s8d on th& locations raqulred
9 LIVES FURNITURE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 During the y8ar we had an un5cheduled Fire Inspection, from Ihi5 We had lo complete a full as5es5ment. The a5Se55m8nt Meant that we had to Install new emergenoy lighting and sett up regular safety check5 on equiprnent. We 8re also getting QUDlè$ for joinin9 Ihe upslair5 to the 8rn8rgency alaim, We havÈ conts'nued our partnership with Three Rivers District Council proving a voucher system. We were given a further £5,000 to continua running this projgct. We continue lo run supervised workshop on Tuesdays, where volunteers work on restoring and upcycling furniture to be sold in the showtoom, which $$11 al high8r pric85 in the Etnwiurn and a18 not eligibl8 for dis¢wnl. First Aid training look Flace in May 2024 all paid staff and some volunteer5 to Ztlended. Duk8 ol Edinburgh studènts worklng towards thèir bronzè mèdals are règularfy brought Into 9 Lives lor work èxpèrf8nc8. Ive have received 4 new applications. who will hopefully be starting soon. We continue ID promote the charity's activities through.. Facebook • Inslagram Twitter Website Selling ol Frenchic chalk painl8 Volunl$$rs'. As rnenlioned above, w8 conts'nue lo offer Duke ol Edinburgh SGh8rne placements for student5. We continue lo Denelit rrorn new volunleers who assist In the showroom. We are gral8lul for graiils and donations this year from.. Watlord & Three Rivers Trust- grgnt lor on extra 8 week workshops Our L8ndl¥dy. Lynntr Burno11 Waword Golfi'ng kniely Aspen Phoenix Newco Limited (Paperchasel Waste Reduction The collection and provision ol lurniture continues to keep lar9e bulky iterns out of landfill. This year 2.969 items ol furniture and ovor 1,000 srnall hou$ghold Ilgms wgrg dlvgrt9d from landflll whllsl provSdlng much n99d9d support lo hou$9holds In need. Premises Qur premisès cornply ivlth the Disability Dlsuirnina.0n Act and the building provides a¢cÈ$s lo Ihe ground and first floor for wh88lchair us8rs, Flnanclal r•vl•w A summary of Ihe charity's finan¢ial tx)silion 1$ 8118¢hgd. During the year we were able lo maintain a rèasonable financial position which resulted in sufficient cashllows lo allow our to continue our operations. We are slill 5eekin9 new opportunities which will allow u5 cash reserves to grow and continue lo provide a stable financial footing. During the year the Trustees have considered the level of the charity s reserves, in line with the Charty Comtnission ouidelines. The Trustees set a policy thal rellecls the need to maintain currenl operations whilst providing for lulure ¢ommilm8nlS. 11 is the policy of the tharity that unrestricted lunds, which have not been designated for a specific use. should be maintain at a sufflcleni level to pay off $ff anu setue the rent to the next breaK Polnt In the loase. The Trustees consi(Jer that reserves al this level will ensure that, in the event of a significant drop in sales inc0e andlor funding. they will be able lo continue tk charity's currant act1viti whlle consldaratlon Is givan to ways In whSch addltional funds may be raisad. Thg laval of r8serv8s is monitor8e and r8vi8wed four ts.rnes a y8ar. Reserves that are not r8quired for day-to-day activities 8re held in 8 separate interesl-be8ring bank axount.
9 LIVES FURNITURE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 R8S8Ngs policy The charity has a number of sour(s of income, which are in kegpirKJ with the charitable (l)jéci8 and activities and include.. Sales of donat8d goodB. including discounlad sal88 for thoBo in need, and incr&as8d char98s lor upcyc18d Irniture S8le$ of Fren¢hi¢ chalk paints Grants and donation$ Gift Aid on donations and sales of donated gthxjs Vouoher scheme in ¢onjun¢ts'on wilh Three Rivers Dislricl Couneil Workshop courses Key areas of oxp8ndllur8 aro.. Rent and runniw costs for the furniture showroom, workshop and offices lall in the 8atNe building). The pr8mises provide the nprK)rtunity to display and Sell furniture, whilst the workshop is used for training ccurses. They also provide volunlggrlng opportunlllos Salaries and staff costs Van running costs lo operate the collection gnd dèlivery seThi¢¢ Profession81 wsts- preparation of Ihg accounts Marketing costs- ongoing publicity lo prornote the work ol the charity and attract custorner8 lo the showrDom Purchasing paint lor resale in the shop Upd8ting tha ligniing and 818clric8 The new EPOS (till and back-office systems) As a rosull of good financial Controls and budgeting during Iho y$ar, the charity was ab19 lol improvg its position Ihi8 yoar Ideficil - £4,607> Gompared lo 2024 Idelicit - £14.3521. The Trustees recognise that there are sts'll challenge5 In this sector nd are Working alongside the rnanagetnenl 8nd s18ff lo seek new woys lo itnprove Ihe income slreams whilst keepin9 controls over exp8nditurg. W8 wish lo thank Sharon and her 8laff lor their good work to dal8 in this area. Majorrisks During the ye8r Ihe General Manager and Truleè8 h8ve continued lo assess the major rlsks to which the charity is exposed and have ensured syslems are in place lo mth'gal8 8xposur8 to such risks. The Trustees have no plans to make slgnlfieanl ¢h8ngos t¢ the 8etlvlties of the ¢harlly. Our focus for thè foreseèable future is We 81m 10 8¢hieve this through.. • continued promotion ol our activi11o8. continuing to build uur online I social media activity including s*lling Itèms onllna. flash 6810$ to holp maint8in a ro8sonobl6 tumovar ol Gto¢k. fundraising programmo to gonerate funding for our trainlng (urs¥$. Plan5 for fvture perlod3 The Trustees have no plans to make significant changes to the activities of the charity. Our fucus for the foreseeable future is on confjnulng to build on the level of furnlture sales and securlng grent funding for Ihe trainlng courses. We alm to achieve thls throLJgh'. nlSnued promotion of our 8cUvilies. • continuing to build our online I social media activily including selling ilerns online. flash sales to help maintain o reasonable turnovor of stock. fundraising programme to generate funding for our training courses. working with local Huusing Trusts and Councils lo increase the number ol Referied cuslom&rs who will benefit from the charity and 81$0 increase our income.
9 LIVES FURNITURE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure. 9ovemanc• and management Q Lives Furniture 18 a Ragisltsred Charity and a company limited by guarante6. Th8 Trusl88s, who aro a150 the dlr8Ctors lor th• purposo of company law, who s8rv8d during th• yoai w8r8.' Irvin Cohen Rosemary Hadfield M.B.E Andrew Blatherwick David Sh&rp6 Sergio Mussi Stephanie Singar Donald Milligan Paul Redinglon Robyn Suteliff Isab81 Monlesdeoca Jayne Cook IResign8d 8 Aprll 20241 (Appointèd 11 February 20251 (Appointed 11 February 20251 (Appointed 29 April 20251 Recruitment and appointment of trrjstees An appli¢alion form ID join thè b08rd of Ihe 9 Lives Fumiture is 8V8i18ble lor Potential Trusteesldireclors. The board reviews this and potential candKlal&s are invited lo tho promis88 in Rickmansworth for a lull ov8rvi8w of Ihg running of th8 schtsme. Al Trustees, who are also directors. are volunteers and unpaid. Vacancies are advertised through the local Councils lor Voluntary Services and in the lo¢al paper. Induction iroinino (including working in the showroom) is gwen by the Choir ond Ihe siaff 10 ensure a Ihorough understanding of the organisalion, In addition, Iraining on thg rDIg anLI responsibilities ol a Truslee l¥ dvdildble. Ntrne of th8 Trustees hag any beneficial iiileresl in company. All of the Trustees are rllernbers of the cornpany and guarantee to contribute £1 in the event of a winding up. Organisalional stnjcruré The charity Burrently has a Manag8m8nl Committee o158V8n Trus188s. all of whom ar8 volunt88rs. Al any one lim8 ther8 ar a mlnlmum ol thr88 Trust8•s wlth no maxlrnum. Al each Annual General Meeting IAGMI any Trustee who has $eNed lor three years musl retire from office bul rnay offer themselve5 lor re-elecbon together with any new Trustees who have been co-opted by the Trustees since the last AGM. The Trustees delegate the day to day running of the charitable company's op8ralions to the General Manager. Staff employtsd by the Trust Include.. General Manager-. Sharon Hurford Tek)m Leadérs (part timo- run the showroom, monago tho (rllo¢iion and dollvory sorvico and the showroom volunteèrs).. Tonl Manning, Rtrbecca Johnson, Catharlna Payne Ibank work8rl, Al Slorer • Driver.. Alan Storer Tutor.. Peter Plested Admin 88SlStanl.. Jo Walker R&laÈionship with widernotwork Our General Manager also maintains r81alionship8 Wlth a wide rang& and variety of organi5alions, including.. Membership of Reuse nemork. Loc81 voluntary sarvices network- W3RT. Recycling- Wa8leAware. Referrals ol students and volunleers- Mencap, New Hope Trust, Norlh,Nick Day Centre. Ascend, Watlord Community Ment81 Health T08m, self-refgrr¥l. Referrals of customers in need- Citizens. Advice Bureau. HertsHelp, Thrive Hornes, Watford Cornmunill Housing. Paradigm Housing, self-lerral. Community Mental Health Teams, KeyNorkers, Three Rivers Districl Council.
9 LIVES FURNITURE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employ Involvement The charitable Cornpany's policy is lo consult and di$8 with 8mpltsyees, through union% stsff councils and al mealings. matters lik81y to aff8Ct ernploy888' int8f8Bt8. Inloimation of matters of Concern lo employegs is given ihrough information bulletins and r8POrts which seek lo achieve common awareness on the part of all employees ol the financial and economic faciors affecting the group's performance. Th8 Trustees, report was approved by the Board ol Trustees. Andrew Bl8therwi¢k Trustee 22 July 2025
9 LIVES FURNITURE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 9 LIVES FURNITURE I report lo the Trustees on tny examination ol th8 financial statetn8nls of 9 Liv85 Furnitur8 Ith8 charitable company) lor th8 year ended 31 March 2025. Ro$pon$lbllltl&$ and b¥sl$ of roport As Ihe Trustees ol the charitable o)mpany land also its direclors lor the purk%)ses ol company lawl. w)u arg responsibl& lor the pr8paralion ol th8 financial stalem8nls In 3ccordanc8 witr the requir8m8nts ol the Companies Acl 2006. Having satisfied myselllhal Ihe financial slalemenls of the charitsblp company are not required lo be audited under Part 16 of the Companies Act 2006 and are 81igible for independent examinaliDll, I report in respect tsf my examination of th8 charitable company's linanaial statements carried out under section 145 of the Charities Act 2011. In carrying out rny exarnination I have followgd the Dirtr¢llons gjvgn by Charlly Commisslon under sg¢Oon 14515llbl of tho Charitlgs A¢1 2011. Ind•p•nd•nt •xamln•r's stat•m•nt I have completed my 8xarnlnalion. I conllrm that no rnallgrs have corn8 lo my atlentlon In conn8cllon wllh th8 8xamlnallon giving me cause lo beliave that In any material r8SP8cI'. accounting records were not kept in respect ol the charitable cornpany as required by section 388 of the Companies Acl 2006. the financial statements do not ac¢ord with those records., or the financi4115t&ilernents do not comply with thè acix)untln9 r8quir•ménls ol s8ction 396 of th8 Companlès Act 2006 other than any requirement that the ffi'n8nci81 slalements give 8 true and fair vièw, whieh is not a matter Considered as part of an independent examination., or the financlal st8lements have nol been prepared In accordance wlth Ihe melhods and prlnciples ol Ihe Statement ol R•comrnend•d Practic8 for accounting and reportlng by charities applicabl8 lo charilies pr8paring Ih8ir Ilnancial stat8m8nts in accordanc8 with th8 Financial Raponlng Standard appllcablé In the UK and R•puSllc ol Ir8land IFRS 1021. I have no concerns and have corne acros$ no other matters in connection with the examination lo which 8ltenlion $h?uld be drawn in thi$ Igport in order lo en8bl& a proper undorslanding ol the linanci818ialemen18 to bg re8¢hed. John Wilson FCA ATII Howard Wilson Chartèrgd A¢¢ounlants 36 Crown Rise Wattord Hcrtfordshiro WD25 ONE 22 July 2025
9 LIVES FURNITURE STATEMENT OF FINANCIAL ACTtVlTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unr•stri¢tsd Restri¢t•d funds funds 2025 2025 Total Unro8tri¢tsd Re8tri¢l*d fund8 funds 2024 2024 Total 2025 2024 Notes Incom• and •ndowmènt8 from.. Donations and legacies Chari18blè 8clivth$s Inveslménts Other incom8 19.788 113.272 725 722 1,250 21,038 113,212 725 722 24,289 90,284 1,209 2.082 10,750 35.039 90.284 1,209 2.LB2 Total income 134,507 1,250 135,757 117,864 10,750 128,614 Exp•ndllur8 on: Charilable aGlivrties 135.021 5,343 140,364 140,408 2,558 142,6 Total expenditure 135.021 5,343 140,364 140,408 2.558 142,S£6 N•t gXPgndltur• and mov•m•nt In funds 15141 14,0931 14,6071 122,S441 8,192 114,3521 R•conelllatlon of funds.. Fund bal#n¢es al 1 April 2024 106.937 16,128 123,065 129,481 7,936 137.417 Fund balan¢•$ at 31 Mar¢h 2025 106,42J 12,035 118,458 106.937 16,128 123,C65 The $1818n)enl of finan¢lal acllvi1189 Ineludts all gains and losses rè¢ognlsad Sn the year, All Ineome 8md 8xp6ndllure derlv8 from continuing aclivili&s.
9 LIVES FURNITURE BALANCE SHEET AS A T 31 AIARCH 2025 2025 2024 Not9¥ FlxÈd 8gse18 Tangib18 asse18 12 4,097 1,241 Currènt a88•t8 Stocks Debtors Cgsh al bank and in hand 13 14 2.685 1 G,003 110,060 2,685 9.923 118,531 128.748 131,139 Creditors: amounts falling due within one yèar 15 114.3871 19.31Jl N•t ¢urr•nt a88•ts 114,361 121.824 Total assets less current Ilabllltles 118,458 123.(5 Th• fund8 of th• chadlabl• ¢gmp•ny Fteslricled income funds Unrgslrlctgd lunds 17 18 12,035 10e,423 16,128 106,937 118.458 123.LE5 Th8 company Is èntllled to thè 8xemption Imm th8 audlt rèqulrem8nt contalned In $8ctlon 477 01 the Companias Act 2006, lor the year ended 31 March 2025. The directors acknowl&Jge their responsibilrties lor complying with th8 requirements of the Companies Act 2006 with respect lo accounting records and the preparation ol linancial statements. The m$mbers hav¢ nol requirgd the ¢ornpany lo obtain an audit of its financial sl¥lgn)&nls for the year in quoslion in ccordance with section 476. These financial slalernonls have prepared in ae¢ordan¢8 ¥vlth Ihe provlslons appll¢aole lo Companies 8ublecl lo th8 small companies regim8. The lingnGio1 $1gtements were gpproved by the Trustees on 22 July 2025 Irvin Cohen Trust•• Andrew Blalhetwick Truste• Company registration number 04375649 (England and Wales)
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ountSng pollcle8 Ch8rity infowmation 9 LIVGS Furniture is a prlvat& company Ilmiled by guarant88 incorporat8d In England and Wal85. Tho roglst8r8d offlc8 18 25 Wharf Lan•, Rickmansworth, H8rtlordshlre, WD3 1 HA. 1.1 Accounting conventlon Th& financial stalemènts hav8 b88n pr8parèd in aceordanc& ivith lh8 d)aritabl& eornpany's gov8rnin9 docum8nt. th8 Companies Acl 2006 and "Accounting and Reporting by Ch8nties'. Slalernenl of Recommended Pracb'ce applicable lo charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic ol Irèland IFRS 1021 laffèctlvè 1 January 20191. Thè charftablè company Is a PLJbllc 8ènèfit Entity as dèlln8d by FRS 102. Thè charllable compBny ha5 taken advantage of thè provlsions in thè SORP for charias applying FRS 102 Update Bullelln 1 not lo prepare a Statement ol Cash Flows. Th8 Ilnancial slalements ar6 prepared In 51erllng, which Is the luncllonal currency ol th8 charltable cornpany. Mon8lary amounts In these financial slalements ara round8d to th8 nearest £. The linan¢i81 stalements have been prepared under the histori¢al ¢ost Conven'0n. The principol acoounting policies adopl&d are s&1 out below, 1.2 Going conc•m At the Iirne ol approving the financial slalernenls, the I ruslees have a reasonatsl8 expeciation Ihal the chanlable company hos adequale resources to conlinlie in operational existence for the foreseeable futuie. Thus the Trustees conllnue lo adopt the going concern bag18 of accounllng In preparing the Ilnanclal slatemenlg. 1.3 Charltable fund¥ Unr851ricled funds are avallable for use at the discretion ol the Trustees In furtherance of their charKable objecllve8. R8$lrl¢tod funds are subled to 8pe¢rfle ¢ondillons by donors Qr grantors as to how they may be us•d. The purptssa8 and uyeg ol th& rastricted funds 8re sel out in th8 nolas lo th8 lin8na81 s18t8rnenls. Transfers between funds are used vthere there is an overspend on a PBrticular fLJnd beyond the amount originally funded where the charily has agreed lo meet Ihtr costs from ils unrestricted funds, or where the ¢ondilions relevant lo the fund have been tnet and it has previously been agreed wth Ihe funder than any remaining funds can be retained by the charity towards it charitable activities. 1.4 In¢orn• Income is recognised when the charilable company is legally entilled lo it after any performance conditions have been mel, Ihe amounts can be moasurgd reliably, and il is probable that income will be re¢givgd. Cash donations are r8cognis8d on receipt. Othttr donaliuns are rtrcognistrd onc8 the charitable company has been notified ol Ihe donation, unless performance conditions requi deferral of the amount. Income tax recoverable in relation lo donations r&ceived under Gift Aid or dèeds ol cov8nanl 18 recognised al the lime of Ihe donation. Asse15 given for use by the Gharitable company are recognised when receivable. Incom8 from the sale of dOted 9oods are accounted for when eamed. The value iepresenls the Iransaclional prlce ol the items sold. 10-
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting policies Icontinutdl 1.5 Expendituro Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its benefi¢iaritrs,11 in¢ludes bolh costs Ih81 c8n be allocatgd directly lo such activitigs and those costs of an indirect natur& neGe5sary to support them. Governance ¢osls include those eosls 3&sociated with meeting the constitutional and ststutory requirernènls of the charity and includ8 the audil or independènt exarnin81ion lees and costs link8d lo Il stratsgi¢ rnan8gemenl of the charity. 1.6 Tanglbl• flxed assets Tangiblé fixgd AsqÉl8 ar+ initially mE+asurftd cost and 8ubBF.qugnffiy mpasurtxl at rnst ar valuatinn, nt>t c)1 d8prgr.iatian and any impairment losses. Depr9cialion 1$ re¢ognised 90 as lo wrilF off lh9 Wst or valuation of as¥gts1gss Ihgir residual valugs over Ih9ir ug£ful live5 on Ihe following bage5'. Leasehold land and buildings Leasehold irnprovements Computers Motor vehicles over period of lease over period of lease 25% on cost 25'h on ¢DsI The gain or108s arising on the disposal ol an 8sset is delorminad as Ihe diff8ren¢o bglwoen the sale procegds and the carrying value of Ihe asset, and is recognised in the stalem8nt of financial acl'vities. 1.7 Impairm•nt oi f¢d a$sts Al eo¢h repDrting end date. the charitable company reviews the carrying amounts off 11$ tangible assets to deterrnine wholh¥r there is any indi¢alDn that th08& 88sel8 have suffer•J an impaiimenl loss, If any Such indication 8xisl8, th¥ r8cov8r8ble amount of the asset 18 e51imaled in ord8r to deterrnine the exlenl ol the impairment loss lif any), 1.8 stockg Stocks are 51aled Bl the lower of cost and eslirnated Selling price less costs lo cornplete and sell. Cost cornprisey direct materials and, where applicable, direct labour cosls and those overheads that have been incurred in bringing the stocks to their pres8nl locatK)n and condllion. Ilams héld for dislributs'on at no or nominal consid¥ralion arè measuréd a1 the lower of replacement C05t and cost Nel redlisdble value is the estimated selling price less all estirnaled costs ol cornpletion and costs to be incurred in markets'ng, selling and distribution. 1.9 Cash ond ¢a$h gqulval&nt$ C8sh and cash equivalonls Includg r8sh in hand. deposits hdd al call wth b8nK8, olhgr short-18rm liqui(J investmenls with original maturities ol three months or less, and bank overdrafts. Bank overdrafts ar8 shown within tx)rrowings in current liabilities. 11
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting policies Icontinutdl 1.1 O Finaneithl in8trumentJ The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instnjmenls, and Section 12 '0thor Financial Inslrumants Issu&s' ol FRS 102 10 all ol ils financial inslrumenls, Financial instruments are cOgnised in the charitable company's balan sheet when the chantable company bgcorDes party to th9 conlr&tual prow$ions of th8 instrurngnt Financial ossets and liabilities a offset, with tho nel omounts presented in the financial stalemenls, when there is a legally 8nforc8ab18 right to $81 off the iecognisgd arnounls and Ihgrg 1$ an int9nlion lo sell18 on a nel basis or lo r8ali$g the asset and seiiie the liablity sirnultaneously, 8aslc flnan¢lal assets Basic fi'nancial assets, whieh include debtors and cash and bank balanees. are initi£lly messured al transaction prie8 indiiding transaction costs and are subsequently carried at amortised cost using th& effective interest method unless Ihe arrangemenl constitutes a financing transadion, where the Iransaclion is measured 8t the present value of the future receipts discounted 81 a rn8rkel rate of inl8r&sl. Financk818ssels classrfied as ie¢eivablè wthin on8 y9ar ale not amortlsed. 8aslc nnan¢lal Il&blllrl&s Basic financial liabilitias. including cr8ditors and bank loans ai• initially racognisad al transaction prica unlass th8 aange[nent constitut85 a financing transaction, here th8 debl instrumenl is measured at the pres8nt value ol the future paymgnt5 di5countgd it a m¥rk8t rot? of interest. Financi81 liabiliti9$ ¢lassified 85 pgyable within ong ygor ¥r9 ng1 amortisod. Debt instrumen15 are subsequently carried al arnortised cost, using the effective interest rale method. Trade crèdltorg are obllgatlons to pay for goods or sèNices that hav8 bè8n acqtjired In the ordlnary coursè ol operations from suppliers. Amounts payable are cLassilied as current liabilities il payment is due wrthin one year or less. If not, they are presented as non-currenl liabilitl8s. Trade cr8dilors ar8 r8cognlsed inllially al tran8a¢iion price and sub4eqiJgntly rneasijrpd at amortispd wst using ltrie effective interest rnelhod. D•r•coqnlllon of flnanclal Ilabllltl•s Finan¢lo1 Ilobililics are derc¢agnised when the ehtrit•blo company's controetuol obligotions expire or arts disehorgcd or cancellad. 1.11 Employee beneflts Th8 Cost of any unus8d holiday enlltlemènt is recojnlsad In th8 rIOd In whlch th• 8mploy8a's setvlces are rec8lv•d. T¥rmlna11on b8n8fits ar¥ r¥cognis¥d imm8dial•ly as an 8xp•ns¥ when Iha charftabl8 company is d8monstrably committ#d to temilnattr th trmploymnt of an 8mplDyè or to prod# t•rmlnation bènfits. 1.12 Rollrfym•nt b¢n•flt$ Payments lo deled contritIon retirement benefit schemes are charged as an expense as they fall due. 12-
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltlcal accounung estlmates and Sudgements In the 8pplie8bon of the ch8rit8ble ¢omp8ny'$ 8¢counting PC>licie8. the Trustees are required to make judgements, estirnates and assumptions about the carrying atnDunl ol assets and Iiabililies that are not ieadily apparent Irotn oth8r sources. The esknmale5 and associated a5surnplions are based on hi5101ical experi&nee and othèr factors that are considered lo be relevant. Actual re5u115 may dlffer from these estSmates. Thp p.limAIp And ijndprfying A88iJmptinnq Arg. rp.vipwpd nn An nnonino hAqi¢ Rp.viinn In Aernijnlino p.8lim2ip.8 Arp recogn159d in the perlod in which the estimate is rev158d where the revlsvjn affects only that perlod, or In the period ol the revision and Tutur8 periths where the revision aff8cls both current and future periods. In¢om• Irom donatlons and1oga¢l•s Unr•¥trlctsd R•strl¢t•d funds funds 2025 2025 Toial Unrestrlctsd R•slrlct•d funds funds 2024 2024 Total 2028 2024 Donations and gKI$ Grants 19,288 500 19,288 11,494 12,795 11,494 1,250 10,750 19.788 1,250 21,038 24,289 10,750 35.039 Donatlon8 and glft8 Don81ions and legacias Glft Ai(J receivable 4.688 14,600 4,688 14,600 207 11,287 207 11,287 19.288 19,288 11,494 11.494 In¢omo from ¢harflablo a¢ilvltles Unrg$trl¢t9d funds 2025 Unrè$trl¢tgd fund$ 2024 Sales of donated and rgfurblshod lurnllurg 113,272 90.284 Income from Inv&5tm8nts Unr•$trS¢t•d unr•s1ct*d funds lund$ 2025 2024 Interest receivable 725 1,209 13-
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Othfji Income VnrÈgtricted Unr•9trictèd funds lunds 2025 2024 Other Income 722 2,(W2 Expgndlturg on ¢h8rltabl• a¢tlvlll•s 2025 Siaff co$ls Depreciation and impairrnenl Other staff costs Premlses costs In$urancg Repairs and mainl8manc8 Office costs Volunteer expenses Van expensos Travel and subsi818nc• costs General expenses Lègal and prolèsslonal costs A¢couni8ncy costs Olhar finan¢e cost8 Purch8se6 78,376 1,504 480 32,448 3,731 3.343 3,530 76.838 413 36,782 6,182 3.LB2 363 2,659 134 1.011 1,080 2,116 2,106 3,231 $49 278 588 2,574 2,942 6.790 140.364 142.%6 Analysls by fund Unreslricled funds Restrfctad funds 135,021 5.343 140,408 2,$58 140,364 142,6 N•1 movgmont In funds 2025 2024 The nel mr>vemenl in funds is slated after ch8rgingllcredillngl.. F66s payabl& lor the independent tsxaminalion of the eharily's linanual s18lements 1,200 1,504 1,2LKI 413 Doprcciotion of owned tangiblo fixod assots 14-
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees None of the Trust88s lor any p8rson$ ¢onng¢lod with them) received @ny romuneration or benefits from th¢ charilablg company during th8 year. 10 Empltsy•e$ Th& av8rag8 monthly nLJmb8r of 8mploy&&s during th8 y8ar wa$.. 2025 Numbor 2024 Numbgr Direct charitable work Managemenl and administration Totsl Employmenl ¢OJIts 2025 2024 Wages and salari8s Other pension costs 75,485 2.891 75,321 1.517 78,376 76,838 There wèr8 no employ8ès whosè annual r8mun8rallon was mora Ihan £60,000. 11 T•xation The ¢horily is exempl from Igx gn income ond goins fallin9 Within section 505 of the Taxes A¢1 1988 or sedion 252 01 Ihg Taxation of Chargeablg Gains Act 1992 to the exlenl that Ihgse are applied lo ils charitable objects. 15-
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Tanglble flxed assets Leasehold land and bulldlThg Conputers Motorvehlcles Totol Cost At 1 April 2024 Additions 29,851 23,289 4,361 32.000 85,140 4,361 At 31 March 202S 29,851 27,650 32,000 89,501 Depreclatlon and Impalrment Al 1 April 2024 Dèpréclalion chargad in th8 y8ar 29,851 22,049 1,504 32,000 83.9)0 At 31 March 202S 29.851 23,553 32,000 85,404 Carrylnu amount At 31 March 2025 4,og7 4.tY37 Al 31 March 2024 1,241 1.241 13 Sto¢k$ 2025 2024 Finished gggds and goods fDr iesale 14 D•btor8 2025 2024 Amounls falllng due wlthln one year.. Other debtors Prepayments and 8¢crued Income 6,817 9,186 9,135 16.003 9.923 15 Credllor$.' amounts falllng due wlthln on• y*ar 2025 2024 Other taxation and social security Other creditors AeerLJals and deferred income 719 9,783 3,885 5,525 3,108 14.387 9,315 16-
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Credilor$'. amounts falling due within on• ytrar Icontinutdl Included within Other Credrtors 1$ en 8mount held by 9 Lives under Three Rivers Fumiture S¢heme. The purptsse tsf the scheme being Ihe provision ol furnishings lo qualifying groups. Income is recognised from this Scheme when items are provlded. The amount held under this Scheme at the year end was £9,292.SO12024: £S,0001. 16 Rotlr•m•nt ben•flt schgmgs 2025 2024 Delined Contribution schem•$ Charge lo profil or loss in respe¢l of defined conlributs'on schemes 2,891 1,517 Th& ch8rllablg company oper819S 8 defined ¢tsnldbullon penOn sd)eme for all qLJ8Jifylng gmployees. The assets of the scheme are held separately from those ol the cliarilable L¥Jmpany in an independently adrrNnislered fund. 17 R•¥trl¢t•d fund8 The restricted luiids of the tharily cornprise the unexpended balances ol donalions and grants held on trust subject to specific conditions by donor5 as lo how they rnay be used. At 1 Aprll 2024 Incomlng rg$our¢oS Re90urc•s axpgndgd At 31 March 2025 Equlpm8nt Fund Lottery Fund Training Fund Kickslart Fund Hertfordshire Cofflmunily Fund 1,000 2,595 3.605 4,341 4,587 16241 378 2,595 1,640 4,341 3,083 1,250 13,2151 11,5041 16,128 1,250 15,3431 12.035 Provlou$ y•ar'. At l Aprll 2023 In¢omlng resources Rè$ourco$ expended At 31 March 2024 Equlpmgnt Fund Lottery Fund Training Fund Kickslart Fun(J Batchworth Communi1y Council Grant Hertfordshire Cornmunity Fund 1,000 2,595 2,595 3,605 4,341 3,750 11451 4,341 2,000 5.000 12,0001 14131 4,587 7,938 10,750 12,5581 16,128 17-
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 R•$tri¢t&d funds Icontinutdl The Equipmenl Fund w88 e$t8blished Ir¢>m donotions received to meet the ¢o$t$ of equipmentlor the office and warehouse. Thè Tralning Fund was 851¥bll8hed from donatSon5 and grants rec8ived in order to C031 the c03t of IralnSng courses, In particular furnitur8 refurbisliment. Th8 Balchworth Community Council grant wa5 to fund repalrs lo Ilghling. Thè Hèrtfordshire Cornmunity Fund grant was to (x)V8r the ccst of Ihe EPOS system. 18 Unmstrlcted funds The unre8triGted lund5 01 the charity comprise the unexpendgd balances of donations and grants which are not subjeGI to specific conditions by donors and granlor5 as to how they may be used. These include desi9nated funds which have beon s¥¢ asi¢Jg out of unreslricled funds by Ihtr Iru$lg$s for spo¢ili¢ purpos¢s. At 1 April 2024 Incomin R•iour¢•s 9xp•ndgd Ai 31 Mai¢h 2025 r¢sourco$ General funds 106,937 134,507 113S,0211 106.423 Prevloug year: At 1 Aprll 2023 IncomSng resour¢oJ Re90urces expended At 31 March 2024 Genero1 fui)d5 129,481 117,864 1140,4081 106,937 19 An¥ly$l$ of not g$$•ts b•lw••n lundts Unr•strI0d funds 2025 R•$trl¢tad fund$ 2025 Tol•l 2025 At 31 Mareh 2025: Tangible assets Current assetsl{Iiabilitiesl 4,097 7,938 4.tY37 114,361 106,423 106,423 12,OJS 118,458 18-
9 LIVES FURNITURE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Analysis of net a8strts betwèèn funds Icontinutdl Unrostricted lund8 2024 R•$trictsd funds 2024 Totthl 2024 At 31 March 2024- Tangible gssels Current assetsl{Iiabilitiesl 1,241 14.887 1,241 121,824 106,937 106,937 16.128 123.(5 20 Relatsd party tran8actions Th8r8 w8re no dLsclosabl8 r8lated party transacllons durlng th8 y8ar12024- non81. 19-
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