Company registratlon number.. 05407823 Charlly reglslratlon number.. 1109873 Good Old Furniture Available (GOFA) {A tompany Ilmlted by guarantee) Annual Report and Financial StatemeNts for the Year Ended 30 June 2023 Good Old Furniture Available (GOFA) Contents Reference and Admlnlsliatlve Detalls Trustees, Report 2to6 Independent Examlner's Report statement of Financial Artlvldes Balan￿ Sheet Notes to the Financlal Statements ioto18 Good Old Furniture Available (GOFA) Reference and Admlnistrative Detalls Trustees Mr D Felce Mi. D RuE>ens Mrs C Newborn Mr R Soi'rell Mr C Harrold Mrs P Young Ms J Ballett Mr N Robson Ms K Murray-Lambrou Mrs A Robson Mrs Anne Redellnghltys Charlty Registratlon Number 1109873 Company Kegistratioh NumborO5407823 The charity Is Incoi'porated In England & Wales. Ellis SquaiE VOundon￿Ur Lane PENZANCE TRIS 4UH Crane & Johnston C&J Ltd charte.red CerJlied Accountsnts 11 Alvcrton Terrace PENZANCE Cornwall TR18 41H Registered Offl¢ Independént Examlner Page I Good Old Fiirniture Available (GOFA) Trustees, Report The trustees, who are directors for Ihe purposes of C￿1panY lawl present the anmual repoit together with the flnancial statements ond auditors, report of the Iharitable company for the yeai. ended 30 June 2023. Objectives and activities Objects andaln The Chartty's objects are, Irb the area OF West Cornwall partIC￿larlY In the Dlstrltt of Penwlth, to Relieve povew thmugh the provlslon of household furnltuie and goods to Ih05e persons resldent In the area of EEneflt that lTrave need of such Items by reason of thelr nece5sltous clrcumstances. Advance educatlon, tralnlng or retralnlng partlcularly amorlg unemployed people so as to develop work sklllsi galn work experience and encourage social integiation; and Prutect and preserye the environment by educatlng the public In the beneflts to the environment of sustaindble wa51e pracllces Includlng recycllngi carrying out rese3rch Into suslaitkable waste management praclices and dlsseminatlllg the useful results of that research. The objectlves of the Chadty are met princlpally by,. The sourclng by donation from the local communlty and the dellvery to the local communlty In necessitous Circumstan￿ of furnilure. whSle goocls and electrical gO￿S In exchange for donauon by furniture collecbon and delivery service staffed by the Prole¢l Co-ordlnator andlor volunteeiE. The provislon of volunteer tralning placements wlthln the Charity manaqed and stspervl*d by the Project Co-ordlnator andlor the Truslpp.£. Placement maybe ellher solely managed or operated by the Charlty or In partnershlp wlth one or more external organlsations, The conduct of public talks, fund raSsers- communlty education vlslts by the Project Co-ordlnator andlor the Trustees and volunteers. Publicbgneflt The trustees confirm that tliey have complled wlth the requirements of sectton 17 of the Chatlties Act 2011 to have due regard to the wbllc benefit gUIdan￿ published by the Charity Commlsslon for England and Wales. PagÈ 2 Good Old FurnEture Available (GOFA) Trustees, Report Achlev6ments and perforinailce The year 2022123 has been characterlsed by mixed fortunes. Most Importsntlyi GOFA has contlnued to provide Indlvidua15 and familles In need of support wlth free or modestly pi'l￿d furnlture or other household goods, in line wlth Its primary ob5ethve. The c05t of living crisis has made GOFA even more essentlal In some people's lives. GOFA has responded to referrals from Cornwall Councll's housing and adult soclal servlces departments and acts In partnershlp wllh other community agencles, such as Llvewegt, HDwever, GOFA Itself has llol been Immune to cost of livlng challenges. Although successfully negotlallng a new lease for Ils premlses from Cornwall Councll, GOFA wlll see its rent steadlly rlslng year on year over the next five years. Fuel and utlllty costs have Incrè.asÉd. In addltlon, thg Trtjstees felt It nece&8ary to Increase staff salarieg In line wlth Inflation. Consequentlyi It remalns a challenging alm for GOFA to reverse the decline In financial reserves It experIen￿d durlng the pandemk. As reported last year, GOFA was succe*ful In gaining a orant from the Natlonal Lottery Communlty Fund that has come Into force in the current financial year. The grant has paid for a fulty electdc van that can be used for vlewing potential donations and collectlng smaller giM)ds. The grant also covere the cost of Insiallbng a charglng faclllty, over and above the avollable government support for doing Ihls. In addllion, the graiit is coverlng 500/0 of estlmated fuel r.osts tog£J.thw wlth the co£t£ of extendlng the paid wo¥kforce so that Ix)th vans can operate every day throughout the week. The support wlll last for flvc ycars. Employees and volunteers have contlnued to prov(de an excellent level of service lo people in need In GOFA'S catchment area. The throuohput of furnlture and other ooodg has continued apa￿. GOFA now has four paid empk)yees in addlNon to Its group of volunteers and Is looklng to siislaln the In(xease In salary costs through Its Increased ocllvlty and through the attractlon of ongoing grant suppcrt, Comrnunity Involvement and support., Chapel St Nethod15t Chtjrch Coriiwdll Council Adult Social CaiE Cornwall Councll Housing Livewest Penwlth Communlty Development Trust Cornwall College Bolltho Mental Health Trust Tho YMCA Job Centre Pl￿S West Cornwall Women's Ald Disabllity Cornwall Cornwall Rural Communlty Charlty Alfred Smlths Penzan PenZan￿ Town Coullcil These organlsatlons have been crltlcal to the successful targeting of our expanded 5ervlce both in supplying household goods to the comtnunlly and In the recrultment and support of volunteers and tralnlng pl1￿Ments. Page 3 Good Old Furniture Available (GOFA) Trustees, Report Flnancial review Durlng the year, the charlty continued to deliver Its seNI￿g followlng as In the prevlDus years as the country continued to recover from the Covld pandemk. Total Income rose fiom £107,339 to £137,899 large]y due to an Increase in acUvlties and a signlflcant Grant from the Natlonal Lottery Communlty Fund. Total expenditure Increased from £91,938 to £121,203. Overall this r￿Ulted In a surplus for the year of E16,696 (prevlous year E15,401). The unrestricted general funds ieduced lo £31,780 from £51,148. Deslgnated funds iemained at £65,663 dnd rEstrlitEd funds tol(Illed E36,135 (reflecllng the grant income recelved In the year for capllal and revenue expÈndlture). A full breakdown of funds can be found In note 17. Policy on reserwes The trustees have examlned the charlty'5 requirements for reseNes In light of the maln rlsks Its the organi5ation. It has estrdblished a PDllcy whereby the unrestrlcted funds not committed or Invested In tangible fixed assets held by the chailty should equate to 3 months of the annual core costs which Is c511malcd at £25,000. These reservets dre needed to meet the working capltal requlremenls of the charity and the trustees are confident that at thls level they would be able to contlnue the current acllvltles of the charlty In the event of a drop in funding. At th@. ypar p.nd, the unrestrlr.ted general ieseryes were £31,780. In addltl¢)n, the trustees also have a designated 'core cost provlslon, fund of £22,000. The trustee5 Wish to continue the proces5 of prudent prc>vlslon for the future and have a designated fund towdrds the cost of replacing the van In the future. The vehlcle is essential to the operation of the servlce. At the year end, the balance on thls fvnd was £13,663, The trustees also have a deslgnated fund towards the cost Df purchaslrvJ a lease In the future. Premlse5 are essential to the operatlon of the setvlTr, At the year end, the balance on th15 fund was £30,000. Page 4 Good Old Furnituye Available (GorA) TrLlStee5' Report plans for future periods Aims andkey objectives for future penods GOFA'S charltable objectlv* I'emaln as relevant as ever. Lliifortunalely, the need for Its servlce continues to be vital as many people are Ilndii)g that the cost of Ilvlng 15 rising faster than their pay and benefits and more are IoL)kiiig lo Chariti￿ like GOFA for help with their basic requirements. As mentioned above, a signlficant National Lottery C()mmunity Fund graiit wlll allow GOFA to increase efflclency and overall activity in the next 5 yeais. The trustees have made re5torlng GOFA'S finaiici31 reserves to pre-pandeinlc levels a prlority. Much has been done in the current financial year to niake GOFA capable of siistaining its contribution to the loca5 community. Financial viability 15 a priority. Howeve¥, as always, maklng profll Is not a goal that overrides GOFAS mission to support people In need or to provlde furnitui'e and goods free of charge where necessary. We will continue to balance IlnancSal piobity with our mlssiDn to support local people to enjoy decent livlng standards at home. structurei govemartce and mamage1￿ent Ivature ofgovernlng doc¢inient The dlrectors of the company ( The Tru5tep_s 15ubjecl' to the Companie5 Act 2006 and the Charltles Act 2011 and the Memorandum and Articles are i-espoiislble fow the manageirent of and the exercise of all powers pertaining to the Charlty. The charity is consututed such that ui)less Dtl)erwlse decbded by ordiiiary resolutlDn the maximum number of Trustees shall be twelve and Ihe IiiinimLim number be three. At the time of incorporation it was agreed that the initial number of Ti"u5tees would be ebght. The a¢eounts comply with cur'rent statutory requirements and the charity's governlng documents. Recniitment andappolntment of trijstees New Trustees are app)Inted after election following a prlvate or public invitation at any quallfylng Board meeting of the Charity. The Trustees have appoiiited a Management. Committee whr) are resp011sible for the operatlonal management of the Charlty, The pioject maiiager15 3 member of the managemeiTrt committee. statement of trustees. responslblllties The Irustees (who are also the directors of Good Old Fui'nltLire Available IGOFA) for the purposes of company law) are responsib￿ for preparing tlie ti'iistees, reporl aiid Ilie financlal statements in accordance wilh appllcable law and United Kingdom Accounting Slaridai'ds (United Klngdom Generally At￿pted Accountlng Pract[￿), including FRS 102 Tlie Fiaancial Repoi'ting Standard appllcable In the UK and Republic of Ireland Page 5 l(1 Fui'iiiq-.Iis L. Available (GOFA) TrgJVJl'ee.s' P*epoit Company law requii'es Ihe Lrustees io prepare finan¢lal statements for each financlal year. Under company law the trLlSleeuf niu5t not approve the financial statemeiits unless they are sallsfied that they glve a true and fciir vie.w of Lhe slate of affairs of tlie Charitable company and of the incoming resOur￿S and applicatioii of resourTrs, includli)g ils income and expendlture, of the charltabl@ company For that pei'io(l. piEpai'iiig these financial stateinents, the trustees are required to., select sultable accoui)ting policies aiid apply them consistently- obseNe the methods and prii)ciple5 in the Cliaritips SORP; make judgements and eslin)ales Ihat ai'v reasoiiable and prudent,. state whether applScable accoiinLing slandards, comprislno FRS 102 have LEen followed, subject to any material departures disclose(l and explain?(I In financial statements. and prepare the financial stateryients oli the goli)g concerii basss uiiless it Is Inappropi'iate to presume that the charitable compaiiy wlll coiitiiiue iii huslness. The trustee5 are re5poiisible for keepinq proper accounllng I'ecoi'd5 Ihat can disclose wlth IEasonable accuracy at any time tlie fiiiatkcial position of Ihe charilable mmpany and enable them to ensure that the flnancial statenienls coinply with the Conipanles Act 2006. They are also re5ponslble for safeguardlng the assets of Ihe charitable company and lieiice foi. taking reasonable steps For the preventlon and detect.ion of Fiaud aiid olhei. iri"egulai'ities. The trustees are. I'esp01151ble for tIE Imaintenance ai)d intregrity of the corporate and r(nanclal Infor￿ation Included on the ch4rltable company's viebslte, Leglslatlon governing the preparatlon and dissemlnatlon of flnanclal stateineiils may differ Ii'c)In legibldtlon in other jurisdlctlons. Small companles pyovisioii slateikneiit ThSs report has been pi'epai"ed in accor'dance wlth I'he sinall coinpanies reglme under the Companle5 Act 2006. The annual reFOrt was approved by the trustees of the charity on behalf by,, and slgned on Ils MrDFel Trustee Page 6 Good Old Furniture Available (GOFA) Independent Examiner's Report to the trustees of Good Old Furniture Available (GOFA) {'the Company,) I report to the charlty trustees on my examlnation of the accounts of the Company ft)r the year ended 30 June 2023. Re$ponslbllities ond basis of report As the charlly's trustees of the Company (and also Its dlrectors for the purpow of company lawl you are responsible for the preparation of the actountg In accordance with the requlrements of the Companies Act 2006 Cthe 2006 Art?. Havlng satlsfled Myself that the accounts of the C￿￿panY are not requsred to be audlted under Parl 16 of the 2006 Act and are pllglble for Independent examlnation, I report ln respect of my examinatlon of your charitys accounts as Car￿ed out under 5ethon 145 of the Charitles Act 2011 Cthe 2011 Act,). In carrylng out my examlnation I have followed the Dlrectlons given by the Charity Commlssion under section 145(5)(b) of the 2011 Act. Iiidependent examlner'5 Statement I have completed my examination. I conflrm that no matters have come to rny attentlon In connecifon wlth the eXamIna￿On glving me cause to believe.. l. accountlnq records were not kept in respect of Good Old Furnlture Avallable (GOFA) as required by secuon 386 of the 200G Act. or 2. the accounts do not accord wlth those records; or 3. the accounts do not comply wSth the accountlng reqUIr￿Ments of sectlon 396 of the 2006 Act other ihan any requlremenl that the ac.counts glve a 'true and ffalr vlew, whlch is not a matter consldprg.d as part of an Independent examinatlon; or 4, the accounts have not been prepar￿ In accordan￿ wllh the methods and prlnclples of the Statement of Recommended Prathce for accountlnu and reportlng by charide5 [applicable to charlknes preparlng thelr accounts in acc(m.dan￿ with the Flnanclal Reportlng Standard applicable In the UK and Republic (Jf Ireland {FRS 102)}. have no concerns and have come across no other matters In Innnection with the examlnatlon to whlch atteniTon should be drawn In thls report In order to enable a proper understandln9 of the accounts to be reached. Mr N Hallam FCCA Crane & Johnston Chartered Certlfbed Accountants JI Alverton Terr8 PENZANCE Cornwall IR18 4JH Date.. Page 7 Good Old Furniture Available (GOFA) statement of Financial Activitles for the Year Ended 30 June 2023 (Xncluding Income and ExpendTture Account and Statement of Total Recognised Gains and Losses) Total 2023 Total 2022 Unrestricted Restrlcted Ntste Income and Eiidowmeiits from.. Donations rllng Sianda1-cl cippli¢dble in tlie UK and Repijblic of Ireland {FRS 102)) {issued In October 10191 (CharilEs SORP IFRS 102)), the Flnai)cial Reporting Standard applicable In the UK aiid Rq)iJblic of Ireland IFRS 1.021 and tlie Coinpar*le5 Act 20n6. Basls of pi-epayat.ioi Good Old Furniturp Availr?L71? IGOFA} iiieels tlip dpf"ii)ilion of a publlc benefit entlty under FRS 102. Assets and liabilities ai"e iiiilially recognised at Iiislorical co.st or transaction value unless otherwise stated in the relevanL' accolintinci policy notes. Going coll￿1.n The trustees c(Xisfder that tlipi'e are iio matericil uiirTrrtaiiittes abolit the charity's abllity to contlnue as a golng con￿rn nor ai)y si(Jnilicant areas of uncei'ttiii)Ly that affect the carrylng value of assets held by the chailty. Income ai)d endowinefrits All Income is recogiiised oiice Ilie cliai'ity has entlllempiil to 11)e ino)me, It Is probable that the Sncome wlll be re￿IVed aiid tlie amoiJi)I nf the incorne rec¢wab￿ can be nieasured reliably, [Jage I Good Old Furniture Available (GOFA) Notes to the Financial Ststsments for the Year Ended 30 June 2023 Donatlons andlegacles Donaiions are recognlsed when the charity has been notlfled In wrlting of tKJth amount and itlement date, In the event that a donatlon ts subject to conditlons that requlre a level of performance by the charlty before the charity Is entitled to the funds, the income 15 deferred and not recognised until elther those condltlons are fuSly met, or the fulfllment of those condllions is whdly wlthln the control of the charity and 11 Is probable that these condStlons will be fulfilled In the reportino perlod. Legacy gifts are recognlsed on a case by case basls following the grant of probate when the admlnlstratDrlexeculor for the estate has communicated in writing both the amount and settlement date. In the event that the glft is in the form of an asset other than cash or a fi'nanclal asset traded on a recognised stock exchange, recognluon Is subject to the value of the olft being reliably measurable wlth a degree of r￿Sonable ac¢uTrcy and the title io the asset having been transferred to the charSty. Grt7nt$recelvabJe Grant5 ore recognised when the charlty has an entitlement to the funds and any condltions linked to the grants have been met. Where performan￿ condltlons al'e attached to the grant and are yet to be met, the income Is recognlsed a5 a liabllity and Included on the balance sheet as deferred Income to be released. Investmentincoijié Bank Interest Is reco9nised once re￿IVed. Expenditure All expei)diture is recognised once there Is a legal or con5tructlve obllgatlon to that expenditure, it Is probable *tUEment is required and the amount can be measured reliably. A11 £05L< are allt)cated to the appllcable expenditure headlng that aggregate simllar costs to Ihat c3tpgory, Where costs cannot be dlrectly aitrfbuted to partIc￿lar headlng.£ they have been allocated on a basls conslstent wlth the use of resources, wlth central staff costs allocated on the basls of tirne spenL and depreclalion r.harges allocated on the portion of the asset's us& oth￿ support costs are allocdted bd5ed on the spread of staff cDsts. Charitable a¢tivltles Charltable expendlture comprlses those costs Incurred by the charity In the dellvery of Its actlvlties and servlces for its beneficiarfes. It Includes bDth costs that can be allocated dlrectly to such activlues and those costs of an Indlrect nature necessary to suppoti tt)em. Support costs Support costs Indude central functlons and have been allocated to actlvlty tost categorles on a basls conslstent w￿h the use of resources, for example, allocating property costs by floor areas, or per cap1ta, staff costs by the tlme sp￿t and other costs by thelr usage. Page 11 Good Old Furniture Available (GOFA) Notes to the Financial Statements for the Year Ended 30 June 2023 Governance costs These Include the costs altrlbutable to the cliarlty's compliance wllh constitullonal and statutory requirements, indudlng Independent examlnation, strategic management and trustee meetings and relmbursed expenses. Government grants Government grants are recogntsed based on the actyual model and are me?sured at the falr value of the a55et recelved or re￿1Vable, Grants are classlfTed as relatlng either to revenue or to assets. Granfs rela￿ng lo revenue are recognlsed Iii income over the perlod In whlch the related costs ale recognised. Grants re13dng to assets are reo)gnlsed over the expected useful life of the asset. Where part of a grant relallng to an assel Is deferred, it Is recogn15ed as deferred incorlle, Taxation The chailty Is considered to pa5S the tests set out In Paragraph I Schedule S of the Flnantr Act 2010 and therefore It meets the deflnltion of a chdritable company for UK corporatlon lax purposes. Accordingly, the charity Is potentially exempt from l?X(IUun in r￿pect of Incomc or capital gains ye￿Ived wlthin catpgnrtes covered by Chapter 3 Part 11 of the Corwration Tax Art 2010 or Section 256 of the TJxat(on of Chargeable Gains Act 1992, to the extent that such Income or galns are applled excluslvely to charliable purposes. Tangible fixed assets Indlvidual flxed assets cosung £i,oao or more are Initlally recorded at tost. At the beginnlng of the year flxed assets were reclassbfled between plant and machlnery and motor vehicles. The opening cost and accumu13ted de.preclatlon figures have tjeen restated accordlngly. The total cost and aLrumulated depreciation brought forward and resultlng net ￿0k value remained unchanged. Depreciation and amortisatfon Depreciation is provided on tangible flxed a￿¢5 50 as to write off the cost or valuation, less atiy estimated resldLJal value, over th￿r expected usef4Jl econom1¢ Ilfe as follows., Asset class Equlpment Motor Vehlcles Building Iinprovements Depreciation method and rate 15-20Wo reduc.ing balance 20_250/0 redudng balan 5Yo straight Ilne Trade debtors Trade debtors ar& amounts due from customers for merchandlse sold or serv1￿5 performed it) the ordlnary course of buslness. Trade debtors are recognlsed Inlllally at the transaction pr1￿, They are subsequenuy measured at amortlsed cost uslng the effect(ve interest method, less provlsion for Impalrmenl. A provi51on for Ihe Impairment of trade debtors b e5tabllshed when there Is objecuve eVIden￿ that the charity will not be able to collect all ?moui)ts due accordlng to the orlginal teims of the receSvables. Page 12 Good Old Furniture Avallable (GOFA) Notes to the Financial Statements for the Year Ended 30 June 2023 Cash aiid cas51 equlvalents Cash and cash equlvalents comprise cash on hand and call deposlts, and other short-lemi hlghty liquid investments that are readily convertible to a known amount of cash and are subject to an InslgnifK2nt risk of change In value. Fund structure Unrestrlcted Income funds are general funds that are avallable for use at the irustees disc¥etlon In furthera￿￿ of the objectlves of the charlty. Deslgnated funds are unrestrlcted funds set aside for speclflc purposes at the dlscretlon of the trustees. Restricted Income funds are those donated for use in a partlcular area or for spe(iflc purposes, the use of whlch Is restricted to that area or purpose. Ponslons and other post retiremeiit obligations The charlty operates a dellned ¢￿trIbUtIon ijenslon sclieme whlch Is a pellsion plan undei. whlch flxed contributlons are pald into a pp.nslon fund and the ¢harlty has no legal or ionstruclive obllgatlon to pay further contributlons even If the fund does not hold suffldEnt Bssels to pay all employees the benefits relaknng to employee sew1￿ in the current iind prlor perlods. Contributions to defined contrlbutlon plans are recognised In the Statement of Financial ACtI￿￿e$ when they are due. If Contribution payments ex￿ed the contribution due foi. service, the excess is recognlsed as a prepayment, 3 Xncome from donatlons and leya¢ies Unrestricted funds General Restrlcted funds Total 2023 Total 20Z2 Dortations for dellvery charge, Donatlons from Individuals Donations for dellvery charges Grants, Includlng capital grants,. Government grants Grants from other Drganlsations 81,977 1,320 81,977 1,320 93,635 1,372 54,224 $4,224 11,657 650 137 521 107314 Page 13 Good Old Furnitura Available (GOFA) Notes to the Financial Statements for the Year Ended 30 June 2023 4 Investment Incon)e Unrestrlcted funds General Total 2023 Total 2022 Interest receivable and simllar Income; Interest recelvable on bank deposlls 378 378 25 5 Expendlture on charitable actlvltles Unrestrlcted funds General Restricted fuilds Total 2023 Totral 2022 Note Purchases Volunteer expenses Rent Rates Light, heat and power Insuran Repalrs and maintenan Telepl￿ne and fax Envlronmenlal management Printing, postage and stationery Sundry expense5 Motor expenses Consultancy fees Bank charges Depreclatlon Strff costs Governance costs 302 560 7,320 246 778 8,009 239 778 8,009 239 1,597 322 1,597 322 2,614 842 3,453 1,465 3,453 1,465 1,813 1,014 678 678 554 807 3,324 9,715 330 1,152 6,319 62,341 2,514 807 3,324 9,715 330 1,152 16,152 7CI,668 648 2,157 10,181 914 4,483 5S,977 9,833 8,327 102 043 121203 Page 14 Good Old Furniture Available (GOFA) Notes to the Financial Statements for the Year Ended 30 June 2023 6 Aiialysls of governance and support costs Governance costs Unrestricted ruiids General Total 2023 Total 2022 Ind4)endent examlner fees Exèmlnallon of the financial statements Legal fee5 Marketing and publlclty 950 1,564 950 1,564 912 401 7 Trustees ramuneration and expènses No trustee5, nor any persons