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← Good Old Furniture Available (Gofa)

2025-06-30-accounts

Company registration number: 05407823 Charity registration number: 1109873

Good Old Furniture Available (GOFA)

(A company limited by guarantee)

Annual Report and Financial Statements for the Year Ended 30 June 2025

Good Old Furniture Available (GOFA)

Contents

Contents
Reference and Administrative Details 1
Trustees' Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 19

Good Old Furniture Available (GOFA)

Reference and Administrative Details

Trustees

Mr D Felce Mr D Rubens Mrs C Newborn Mr R Sorrell Mr C Harrold Mrs P Young Ms J Ballett Mr N Robson Ms K Murray-Lambrou

Charity Registration Number

1109873

Company Registration Number

05407823

The charity is incorporated in England & Wales.

Registered Office

Ellis Square Voundervour Lane PENZANCE TR18 4UH

Independent Examiner

Crane & Johnston C&J Ltd Chartered Certified Accountants 11 Alverton Terrace Penzance Cornwall TR18 4JH

Page 1

Good Old Furniture Available (GOFA)

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 30 June 2025.

Objectives and activities

Objects and aims

The Charity's objects are, in the area of West Cornwall particularly in the District of Penwith, to

Relieve poverty through the provision of household furniture and goods to those persons resident in the area of benefit that have need of such items by reason of their necessitous circumstances.

Advance education, training or retraining particularly among unemployed people so as to develop work skills, gain work experience and encourage social integration; and

Protect and preserve the environment by educating the public in the benefits to the environment of sustainable waste practices including recycling, carrying out research into sustainable waste management practices and disseminating the useful results of that research.

The objectives of the Charity are met principally by:

The sourcing by donation from the local community and the delivery to the local community in necessitous circumstance of furniture; white goods and electrical goods in exchange for donation by a furniture collection and delivery service staffed by the Project Co-ordinator and/or volunteers.

The provision of volunteer training placements within the Charity managed and supervised by the Project Co-ordinator and/or the Trustees. Placement maybe either solely managed or operated by the Charity or in partnership with one or more external organisations.

The conduct of public talks, fund raisers; community education visits by the Project Co-ordinator and/or the Trustees and volunteers.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

Good Old Furniture Available (GOFA)

Trustees' Report

Achievements and performance

As in previous years, GOFA has continued to provide individuals and families in need of support with free or modestly priced furniture or other household goods, in line with its primary objective. The prolonged rise in the cost of living has made GOFA even more essential in some people’s lives. GOFA has responded to referrals from Cornwall Council’s housing and adult social services departments and acts in partnership with other community agencies, such as LiveWest.

GOFA’s charitable objectives remain as relevant as ever. This year, following support from the National Lottery Community Fund Awards for All programme, GOFA has opened on a Saturday in order to extend access to the working population.

Between 1st January and 22nd December 2024, there were 2,613 transactions where people have paid at least something for the goods received, a 20% increase over the 2,177 in 2023. In the same period, there were 498 transactions where goods were given away without charge, taking the total number of transactions to 3,111. Donated goods were therefore 16.0% of the total.

A customer survey found that 99% of people followed up were very satisfied and 93% felt that what GOFA had provided had made life a lot more comfortable or easy. Nearly two-thirds (63%) had a lot or some money worries and all found GOFA a help or huge help. Just over half reported being fairly or very stressed and all found GOFA a help or huge help.

A secondary aim is to protect the environment. We estimate that GOFA has prevented about 1,134 cubic metres of landfill and, in addition, 7,400 kg (7.4 tonnes) of scrap metal have been recycled.

The year has been a challenging one for GOFA financially, with an increased wages bill and higher rent, fuel and utility costs. Nonetheless, GOFA remains on a secure footing.

Community Involvement and Support:

GOFA benefits from a number of important links with other community organisations and our thanks this year in no particular order are given to:

Page 3

Good Old Furniture Available (GOFA)

Trustees' Report

These organisations have been critical to the successful targeting of our expanded service both in supplying household goods to the community and in the recruitment and support of volunteers and training placements.

Financial review

During the year, the charity continued to deliver its services as in previous years.

Total income increased from £107,546 to £131,649 largely due to significant grant income of £29,593 from the National Lottery Community Fund.

Total expenditure reduced from £126,842 to £116,640.

Overall this has resulted in a surplus of £15,009 (prior year deficit £19,296).

The unrestricted general funds increased from £19,788 to £42,964. Designated funds remained at £65,663 and restricted funds reduced from £28,831 to £20,664, which includes unspent revenue funding of £10,762.

A full breakdown of the funds position can be found in note 17.

Policy on reserves

The trustees have examined the charity's requirements for reserves in light of the main risks to the organisation.

It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should equate to 3 months of the annual core costs which is estimated at £25,000. These reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a drop in funding.

At the year end, the unrestricted general reserves were £42,964. In addition, the trustees also have a designated 'core cost provision' fund of £22,000.

The trustees wish to continue the process of prudent provision for the future and have a designated fund towards the cost of replacing the van in the future. The vehicle is essential to the operation of the service. At the year end, the balance on this fund was £13,663. The trustees have concluded that the designated fund should remain intact.

The trustees also have a designated fund towards the cost of purchasing a lease in the future. Premises are essential to the operation of the service. At the year end, the balance on this fund was £30,000.

Page 4

Good Old Furniture Available (GOFA)

Trustees' Report

Plans for future periods

Activities planned to achieve aims

Financial viability is a priority. It is extremely difficult to secure grant funding to support ongoing revenue costs. GOFA’s trustees have, therefore, established a working group to develop an income raising strategy that will see GOFA meeting its goal of balancing financial probity with its mission to support local people to enjoy decent living standards at home.

Structure, governance and management

Nature of governing document

The directors of the company ("The Trustees") subject to the Companies Act 2006 and the Charities Act 2011 and the Memorandum and Articles are responsible for the management of and the exercise of all powers pertaining to the Charity.

The Charity is constituted such that unless otherwise decided by ordinary resolution the maximum number of Trustees shall be twelve and the minimum number be three. At the time of incorporation it was agreed that the initial number of Trustees would be eight.

The accounts comply with current statutory requirements and the charity's governing documents.

Recruitment and appointment of trustees

New Trustees are appointed after election following a private or public invitation at any qualifying Board meeting of the Charity.

The Trustees have appointed a Management Committee who are responsible for the operational management of the Charity. The project manager is a member of the management committee.

Page 5

Good Old Furniture Available (GOFA)

Trustees' Report

Statement of trustees' responsibilities

The trustees (who are also the directors of Good Old Furniture Available (GOFA) for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on 26 November 2025 and signed on its behalf by:

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 charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Good Old Furniture Available (GOFA) as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... Mr N Hallam FCCA

Crane & Johnston Chartered Certified Accountants 11 Alverton Terrace Penzance Cornwall TR18 4JH

26 November 2025

Page 7

Good Old Furniture Available (GOFA)

Statement of Financial Activities for the Year Ended 30 June 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Statement of Financial Activities for the Year Ended 30 June 2025
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)		 Statement of Financial Activities for the Year Ended 30 June 2025
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
Restricted
Total
2025
Total
2024
Note
£
£
£
£
Income and Endowments from:
Donations and legacies
3
101,402
29,593
130,995
106,640
Investment income
4
654
-
654
906
Total income
102,056
29,593
131,649
107,546
Expenditure on:
Charitable activities
5
(78,880)
(37,760)
(116,640)
(126,842)
Total expenditure
(78,880)
(37,760)
(116,640)
(126,842)
Net income/(expenditure)
23,176
(8,167)
15,009
(19,296)
Net movement in funds
23,176
(8,167)
15,009
(19,296)
Reconciliation of funds
Total funds brought forward
85,451
28,831
114,282
133,578
Total funds carried forward
17
108,627
20,664
129,291
114,282
Unrestricted
funds
Restricted
funds
Total
2024
Note
£
£
£
Income and Endowments from:
Donations and legacies
3		 95,784
10,856
106,640
Investment income
4		 906
-
906
Total income
96,690
10,856
107,546
Expenditure on:
Charitable activities
5		 (108,682)
(18,160)
(126,842)
Total expenditure
(108,682)
(18,160)
(126,842)
Net expenditure
(11,992)
(7,304)
(19,296)
Net movement in funds
(11,992)
(7,304)
(19,296)
Reconciliation of funds
Total funds brought forward
97,443
36,135
133,578
Total funds carried forward
17
85,451
28,831
114,282

All of the charity's activities derive from continuing operations during the above two periods.

Page 8

Good Old Furniture Available (GOFA)

(Registration number: 05407823) Balance Sheet as at 30 June 2025

2025 2024
Note £ £
Fixed assets
Tangible assets 11 51,448 48,459
Current assets
Debtors 12 1,590 1,246
Cash at bank and in hand 13 78,603 65,651
80,193 66,897
Creditors: Amounts falling due within oneyear 14 (2,350) (1,074)
Net currentassets 77,843 65,823
Netassets 129,291 114,282
Funds of the charity:
Restricted income funds
Restricted funds 20,664 28,831
Unrestricted income funds
Unrestricted funds 108,627 85,451
Total funds 17 129,291 114,282

For the financial year ending 30 June 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 8 to 19 were approved by the trustees, and authorised for issue on 26 November 2025 and signed on their behalf by:

Page 9

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

1 Charity status

The charity is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Ellis Square Voundervour Lane PENZANCE TR18 4UH

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Good Old Furniture Available (GOFA) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 10

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Investment income

Bank interest is recognised once received.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Page 11

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustee meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £100 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Equipment 15-20% reducing balance
Motor Vehicles 20-25% reducing balance
Building Improvements 5% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 12

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 Income from donations and legacies

Unrestricted
funds
Restricted
Total
Total
General
funds
2025
2024
£
£
£
£
Donations for delivery charge;
Donations from individuals 89,934
-
89,934
95,024
Donations for delivery charges 700
-
700
760
Gift aid reclaimed 10,768
-
10,768
-
Grants, including capital grants;
Governmentgrants -
29,593
29,593
10,856
101,402
29,593
130,995
106,640

Page 13

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

4 Investment income

4
Investment income
Unrestricted
funds Total Total
General 2025 2024
£ £ £
Interest receivable and similar income;
Interest receivable on bank deposits 654 654 906

5 Expenditure on charitable activities

Unrestricted
funds
Restricted
Total
Total
General
funds
2025
2024
Note £
£
£
£
Volunteer expenses 861
-
861
1,134
Rent 10,162
-
10,162
9,623
Rates 270
-
270
217
Light, heat and
power 2,355
-
2,355
1,598
Insurance 938
-
938
1,204
Repairs and
maintenance 1,219
-
1,219
3,913
Telephone and fax 934
-
934
1,103
Environmental
management 1,068
-
1,068
507
Printing, postage
and stationery 723
-
723
994
Trade subscriptions 236
-
236
481
Sundry expenses 929
-
929
740
Motor expenses 7,388
-
7,388
6,828
Bank charges 1,673
-
1,673
1,527
Depreciation 3,675
9,833
13,508
11,394
(Profit)/loss on sale
of fixed assets (13,606)
-
(13,606)
2,275
Staff costs 57,963
27,927
85,890
82,187
Governance costs
6		 2,092
-
2,092
1,117
78,880
37,760
116,640
126,842

Page 14

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

6 Analysis of governance and support costs

6
Analysis of governance and support costs
Unrestricted
funds Total Total
General 2025 2024
£ £ £
Independent examiner fees
Examination of the financial statements 1,748 1,748 1,117
Legal fees 344 344 -
2,092 2,092 1,117

7 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

8 Staff costs

The aggregate payroll costs were as follows:

8
Staff costs
The aggregate payroll costs were as follows:
2025
2024
£
£
Staff costs during the year were:
Wages and salaries 81,165
79,570
Social security costs 2,290
467
Pension costs 2,435
2,150
85,890
82,187

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2025
2024
No
No
Management and administration 4
4

No employee received emoluments of more than £60,000 during the year.

Page 15

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

The total employee benefits of the key management personnel of the charity were £34,946 (2024 - £32,140).

9 Independent examiner's remuneration

9
Independent examiner's remuneration
2025 2024
£ £
Examination of the financial statements 1,748 1,117

10 Taxation

The charity is a registered charity and is therefore exempt from taxation.

11 Tangible fixed assets

11
Tangible fixed assets
Land and
Furniture and
buildings
equipment
Motor vehicles
Total

£

£
£
£
Cost
At 1 July 2024 45,790
20,193
62,027
128,010
Additions -
460
19,643
20,103
Disposals -
-
(23,744)
(23,744)
At 30 June 2025
45,790
20,653
57,926
124,369
Depreciation
At 1 July 2024 26,645
16,017
36,889
79,551
Charge for the year 2,289
927
10,292
13,508
Eliminated on disposals -
-
(20,138)
(20,138)
At 30 June 2025
28,934
16,944
27,043
72,921
Net book value
At 30 June 2025
16,856
3,709
30,883
51,448
At 30 June 2024
19,145
4,176
25,138
48,459

Page 16

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

12 Debtors

12 Debtors
2025 2024
£ £
Prepayments 1,590 1,246
13 Cash and cash equivalents
2025 2024
£ £
Cash on hand 2,044 505
Cash at bank 76,559 65,146
78,603 65,651

14 Creditors: amounts falling due within one year

14
Creditors: amounts falling due within one year
2025 2024
£ £
Other creditors 485 -
Accruals 1,865 1,074
2,350 1,074

15 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
Land and buildings
Within one year 8,300 7,700
Between one and fiveyears 28,400 36,700
36,700 44,400

16 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £2,435 (2024 - £2,150).

Page 17

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

17 Funds

17
Funds
Balance at 1
Incoming
Resources
Balance at 30
July 2024

resources
expended
June 2025

£
£

£
£
Unrestricted funds
General
19,788
102,056
(78,880)
42,964
Designated
65,663
-
-
65,663
Total unrestricted funds
85,451
102,056
(78,880)
108,627
Restricted funds
28,831
29,593
(37,760)
20,664
Total funds
114,282
131,649
(116,640)
129,291
Balance at 1
Incoming
Resources
Balance at 30
July 2023

resources
expended
June 2024

£
£

£
£
Unrestricted funds
General
31,780
96,690
(108,682)
19,788
Designated
65,663
-
-
65,663
Total unrestricted funds
97,443
96,690
(108,682)
85,451
Restricted funds
36,135
10,856
(18,160)
28,831
Total funds
133,578
107,546
(126,842)
114,282

The specific purposes for which the funds are to be applied are as follows:

Capital funding in 2022/23 of £39,330 towards the purchase of a new electric van and charging point was received from the National Lottery Community Fund. Depreciation of £9,833 has been charged against this fund each year. A balance of £9,831 is being carried forward at 30th June 2025, representing the net book value of the grant funded fixed asset.

Revenue funding of £9,671 (2024: £10,856) from the National Lottery Community Fund was received in the year to support the charity's operations. This had been fully expended at 30th June 2025.

Revenue funding of £19,922 from the National Lottery Community Fund has been received in the year to support the charity's extended opening hours on Saturdays. Expenditure of £9,160 has been incurred in the year, with funds of £10,762 being carried forward at 30th June 2025.

Other restricted funding of £71 is held at 30th June 2025 (2024: £71).

Page 18

Good Old Furniture Available (GOFA)

Notes to the Financial Statements for the Year Ended 30 June 2025

18 Analysis of net assets between funds

Total funds at
Unrestricted funds Restricted 30 June
General
£		 Designated
£		 funds
£		 2025
£
Tangible fixed assets 41,617 - 9,831 51,448
Current assets 3,697 65,663 10,833 80,193
Current liabilities (2,350) - - (2,350)
Total net assets 42,964 65,663 20,664 129,291
Total funds at
Unrestricted funds Restricted 30 June
General
£		 Designated
£		 funds
£		 2024
£
Tangible fixed assets 28,795 - 19,664 48,459
Current assets (7,933) 65,663 9,167 66,897
Current liabilities (1,074) - - (1,074)
Total net assets 19,788 65,663 28,831 114,282

19 Control

The ultimate controlling party is the Board of Trustees, who are also Directors of the company.

Page 19