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2023-03-31-accounts

COMMUNITY FURNITURE STORE (YORK) LTD

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

COMMUNITY FURNITURE STORE (YORK) LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Report of the trustees 1-8
Report of the independent examiner 9-10
Statement of financial activities (including
income and expenditure account) 11
Balance sheet 12-13
Cash flow statement 14
Notes to the financial statements 15-23
The following pages do not form part of the
statutory financial statements:
Detailed statement of financial activities 24-26

COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also directors of the charitable company, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of the 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) (effective 1 January 2019).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered company number 05748697 (England and Wales) Registered charity number 1114605 Registered office Unit 29, The Raylor Centre James Street York YO10 3DW Trustees/directors D Graham Mitchell (Chair) Rosalind M Batchelor (resigned 15 November 2022) Sally Dillon (Vice Chair) Matthew Farrelly Thomas C Jenkins Kelly Cunningham Kevin A Moss (appointed 10 May 2022; resigned 9 November 2022) Nicholas T Dennison David Mash Prakash Mistry (Treasurer from 10 May 2022) Chief Officer Rebecca Blues Independent Examiner Peter D Hughes, F.C.A. P D Hughes Consultancy Services Ltd 11 Sails Drive York YO10 3LR

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

A. GOVERNING DOCUMENT

The Charity is controlled by its governing document, a deed of trust, and constitutes a Company limited by guarantee as defined by the Companies Act 2006. The Company has no share of capital. Under the memorandum and articles of association, members of the governing board are directors of the Company and trustees of the Charity. B. APPOINTMENT OF TRUSTEES/DIRECTORS

Trustees are appointed to serve for three-year periods, one third retiring by rotation at each annual general meeting, but eligible for re-appointment. From 2019, trustee terms of office have been limited to a total of nine years to reflect Charity Commission good practice guidance.

During the reporting period the following changes occurred in the trustee board:

Subsequent to the reporting period:

C. PUBLIC BENEFIT STATEMENT

The trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The company is a registered charity whose principal object is the relief of people in need through the provision of furniture and other household items. It does this by facilitating the donation of suitable items of furniture from members of the public and commercial enterprises, which are then made available for sale to people in need at a reasonable cost.

D. STRUCTURE & HISTORY

The charity is part of a group of three separate charities, all with the same objectives and purpose. The other charities are Community Furniture Store (Selby) Ltd and Community Furniture Store (Ryedale) Ltd and they operate in Selby and Scarborough districts. The organisation shares a central management and administration team with 25% of resource costs allocated to each of CFS Selby and CFS Ryedale and the remaining 50% to CFS York.

The existing structure of having three separate charities was reviewed at the Annual General Meeting held 15/11/2022 and it was agreed that work should commence to seek a merger of the three charities to achieve economies of scale and respond to changes in Local Government. This work is ongoing.

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

E. OBJECTIVES, VISION AND PURPOSE

Community Furniture Store is a socially active, environmentally oriented organisation that helps local communities to improve homes, lives and lifestyles. Our purpose is to:

The objects of the charity were amended at the Annual General Meeting on 15 November 2022 after the proposed changes received Charity Commission approval. The revised objects are now as follows:

• To relieve generally or individually persons who are in conditions of need, hardship, or distress for reasons including, but not limited to, lack of resources, sudden emergency, ill-health, disability, or other disadvantage.

• To provide by gift, sale, or otherwise, furniture, household goods and other items or services to relieve need, hardship or distress and prevent exclusion from essential services.

• To raise public awareness of, and encourage recycling, reuse, or repurposing of furniture and other household items, including by collecting unwanted items and making them available for others to use.

• To promote and provide life and work skills support and work experience for people who are unemployed or would otherwise benefit from such services.

• To promote any other charitable activity that is consistent with these objects, which shall be selected by the trustees at their absolute discretion.

F. REVIEW OF THE YEAR

• Approximately 1800 volunteer hours accumulated from people in the local community.

• 2871 (approximately 30%) of donated household items were supplied to 914 qualifying households at discounted prices. The discount received totalled £50,863.

G. BOARD & CHIEF OFFICER CHANGES – ALL THREE CHARITIES

During the 2022/23 fiscal year, under the leadership of Chair Graham Mitchell and Chief Officer Rebecca Blues, active participation was noted among both new and incumbent trustees in the charity's operations. Reviews were conducted of the charity's objectives, purposes, and articles of association, and were accepted by the Charity Commission.

The board of trustees brings a dynamic mix of skills and dedication to the table, and this wealth of expertise is actively utilised. Focus has been placed on organisational

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

restructuring, resilience building, brand development, messaging, financial processes, and specific operational initiatives. These areas are managed by various working groups, consisting of trustees, colleagues, and staff, aiming to advance the organisation toward greater stability and effectiveness.

Efforts are geared towards meeting the needs of the served community, enhancing operational efficiency, and promoting staff well-being. Each work programme has been structured with clearly defined milestones and timelines, with the expectation that current initiatives will reach completion within the calendar year of 2023.

Subsequent to the end of the reporting year, Rebecca Blues resigned as Chief Officer in order to pursue other opportunities. The board subsequently appointed Katy RidsdillSmith as Chief Executive Officer. Tom Meares, Head of Projects, has also decided to leave the charities to pursue an opportunity leading another charity; he remained with the charities on a part-time basis to assist in the handover of responsibilities to Katy which is much appreciated.

H. ORGANISATIONAL CHANGES – ALL THREE CHARITIES

The fiscal year of 2022/23 marked a period of substantial alterations in both staffing and organisational framework, set against a backdrop of operational challenges. These challenges were notably influenced by the ongoing recovery from the Covid-19 pandemic compounded by the increased cost of living. During this period, the Chief Officer conducted a thorough review of the staffing structure with the objective of enhancing organisational efficiency.

Upon full staffing, the Chief Officer, responsible for leading the Community Furniture Store charities in York, Selby, and Scarborough, is aided by a full-time Head of Projects, Administration Assistant, and a Finance Manager. These roles are designed to collectively support the functioning of all three charities. For the York-based charity, an Operations Manager oversees the logistics of the collection and delivery services in addition to managing the warehouse and retail outlet. To ensure full compliance with employment laws, the trustees and management of the charity engage the expertise of Human Resources Consultant Karen Weaver.

I. REUSE & SUSTAINABILITY

In striving for operational sustainability, our charity continually refines its working practices to enhance efficiency and curtail resource consumption. While our initiatives have led to an estimated carbon offset of 224 tonnes through the reuse of goods, we acknowledge the carbon footprint generated by our activities. Our diesel van operations are meticulously planned to optimize fuel efficiency, and we employ online tracking systems to monitor driving behaviour. Plans are underway to transition to electric or hybrid vehicles as soon as it becomes feasible.

The majority of our sales are to individuals who do not receive means-tested benefits (the indicator we use to assess if someone is at-risk of entering furniture poverty). This trend is encouraging and suggests a broader societal shift towards sustainability and the reuse of goods, which aligns well with our organisational mission.

J. HELPING PEOPLE IN POVERTY

To mitigate the financial strain and reduce the risk of poverty among individuals on means-tested benefits, we offer a 30% discount on our range of reused goods. This initiative aims to serve those with limited income, providing a viable alternative to purchasing new items, which could otherwise exacerbate their financial vulnerabilities and potentially lead to debt.

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

K. YORK FINANCIAL ASSISTANCE SCHEME

We are enormously proud that throughout the pandemic we were able to maintain the services that we provide to City of York Council through the York Financial Assistance Scheme (YFAS) which we prioritise because it benefits those in our community who are most in need. We are grateful to the City of York Council for its continued support of the Community Furniture Store in many ways, but particularly through the YFAS scheme. As the Council's partner, we have supplied goods to 387 households, not just in poverty, but in need of urgent emergency help. Beneficiaries of the scheme are identified by the council and referred to us. They receive a voucher for the furniture and household items needed at no expense to them. The recipient’s shopping experience is identical to that of any person coming into the store, they are welcomed and provided with choices of furniture. The organisation has gone above and beyond its contractual obligations, offering a "personal shopper" experience to guide recipients through the selection process of essential household goods. This approach ensures that everyone is treated with the dignity and respect they deserve, a value that is deeply embedded in the ethos of CFS.

“Absolutely superb service - friendly/compassionate and understanding real people's needs - I've just had so much support as I finally move to independent living having spent time firstly in hostel then supported living. They deserve this recognition as do the CYC housing support team! Thank you all” – A YFAS Recipient. L. IT REUSE

During the fiscal year 2022-2023, the IT Reuse project has focused on the collection, refurbishment, and redistribution of digital devices such as laptops, tablets, and smartphones to individuals in the city of York who are at risk of digital and financial exclusion. In addition to providing devices, the project offers training in both basic and advanced digital skills, aiming to improve employability and digital literacy. The initiative serves a diverse range of beneficiaries, including single-parent families, individuals affected by domestic abuse, refugees, and those with mental health needs. The project also has an environmental component, aiming to reduce electronic waste by reusing devices. Through collaborations with local organisations, IT Reuse seeks to provide a multi-faceted approach to digital inclusion. Over the reporting year the programme collected, refurbished and distributed 326 devices and 317 internet connectivity packages in conjunction with the Good Things Foundation data connectivity package programme. We also provide devices to community groups that are in need of a device to support the people that they work with. Over the past year IT Reuse has supported disability groups, food banks, drug and alcohol rehabilitation charities and more. IT Reuse has been sustained by significant grant and hardware donations from: Joseph Rowntree Foundation, Arnold Clark, Whitwam Family Trust, City of York Council Financial Inclusion Strategy Group, Feoffees of St Michael Spurriergate, York Common Good Trust and Norman Collinson Trust.

“The Collective Sharehouse was provided with two laptops for use at our food bank premises. This enables us to research benefits etc. to support our clients when a referral is required, as well as enabling us to be more efficient with our admin. A great service was provided by Tyler at IT Reuse and we are very grateful for the hardware and the assistance. Thank you”.

M. VOLUNTEERS

Volunteering within the store provides individuals with the chance to learn new skills and help others in the community. Individuals who volunteer with Community

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Furniture Store York learn a range of skills including manual handling, health and safety, customer service, communication, and administrative skills. Over the past year we have supported 58 individuals to volunteer in the store and workshop.

“I am so very proud of a young volunteer who was referred from the job centre, who has been with us 2 months. When they started they were quite shy, lacking selfconfidence and attended intermittently. But they have worked so hard at challenging themselves to take on any and all tasks and work with others. They are now a competent, confident and committed, valued member of our team. Watching them slowly learn that in fact they already had useful skills and knowledge has been a joy. They have taken initiative and spotted areas for improvement around the store, offering their skills to help us, above and beyond their normal role responsibilities. Now that they have recognised they have valuable knowledge they are even doing an additional days volunteering in IT Reuse. They are doing this as an extra day as they, very considerately, didn't want to let us down in the store.”

- Alice Stevenson, Operations Manager

N. FINANCIAL REVIEW

Total income from charitable activities in 2022/23 was £629,452, an increase of £68,000 on the previous year and greater than pre-Covid trading which generated £526,832 in 2018/19, a remarkable 19.5% increase. The gross surplus on sale of goods in 2022/23 was £334,271 (sales – purchases). Other operational income totalled £53,711 (Gift Aid, Management Charges, etc) and grants totalling £48,354 were gratefully received. Total income from all sources amounted to £677,892.

Total expenditure was £677,705 compared to £630,470 in 2021/22 giving a small surplus of £187 for the year as opposed to a loss of £5,686 in 2021/22. Expenditure includes the costs of the ongoing, and successful, IT Reuse Project (£28,138) which is supported by grant funding. Employment costs also increased following the Government-led increase in National Living Wage. In March 2023 the trustees agreed pay awards for the coming year that mean we are now a Real Living Wage employer. It is relevant to note that the supply and cost of new goods purchased continues to prove challenging as a result of blockages in the supply chain and increased pricing by suppliers. To manage this increase, we use a range of different suppliers of new goods so as to keep prices as affordable as possible for our customers.

The priorities for 2023/24 will be to learn from operational issues that arose during 2022/23 to further consolidate the revised staffing structure and take advantage of the efficiencies it will produce. Another priority is to develop online sales. We will also secure funding to sustain the IT Reuse project and other projects that the trustees are actively working towards. Alongside this, increasing Gift Aid income, careful control of expenditure and the rebuilding of cash reserves (see below) will continue to have high importance. Employment costs also increased following the Government led increase in National Living Wage. Through sustained focused efforts we have been successful in achieving significant grant income, maintaining and growing our trading activities. The charity is considered a “going concern” by the trustees.

O. RESERVES’ POLICY - YORK

The governing board has developed a policy to hold unrestricted funds not invested in fixed assets of between three and six months of budgeted overhead expenditure excluding exceptional items.

Budgeted overhead expenditure for the year ending 31 March 2023 was agreed at £464,756 in February 2022. Net current assets as of 31 March 2023 total £81,851, an

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

increase from the 2022 year-end figure of £74,948. This is well below the target minimum of £116,000. As such the recovery of cash reserves remains a high priority. Community Furniture Store (York) greatly values the continuing support of donors of reusable goods, customers, funders, and of the City of York Council and many other local organisations. The value of donated items, from which we derive a large part of the charity’s income, is not included in the above valuation of our reserves. Average monthly sales of donated items total £22,000, which mitigates the shortfall to a certain extent, providing donation levels are maintained.

P. STAFF APPRECIATION

We congratulate and thank Rebecca Blues on her leadership of the charities and wish her well for the future, departing from her role at the end of July 2023. She has been actively supported by Tom Meares as Head of Projects. We thank all the York staff for their work and flexibility during a year dominated by many changes in staff roles, in personnel, and in working practices.

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

Signed on behalf of the Board of Trustees

…………………………… …………………………… David Nash Prakash Mistry Chair Treasurer

28 November, 2023

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 31 MARCH 2023

I report to the charity trustees on the accounts of the Company for the year ended 31 March 2023, which are set out on pages 11 to 23.

Respective responsibilities of trustees and examiner

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 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

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

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

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COMMUNITY FURNITURE STORE (YORK) LTD

REPORT OF THE INDEPENDENT EXAMINER

FOR THE YEAR ENDED 31 MARCH 2023

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.

P D Hughes F.C.A. P D Hughes Consultancy Services Ltd 11 Sails Drive York YO10 3LR

28 November, 2023

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COMMUNITY FURNITURE STORE (YORK) LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note
Unrestricted
Restricted
funds
funds
2023
2023
£
£
Income
Donations and grants
2
9,941
38,413
Income from charitable activities
3
629,452
-
Investment income
4
86
-
Total income
639,479
38,413
Expenditure
Expenditure on charitable activities 5
649,421
28,284
Total expenditure
649,421
28,284
Net (expenditure)/income and net
movement in funds for the year
6
(9,942)
10,129
Reconciliation of funds
Total funds brought forward
93,143
12,569
Total funds carried forward
83,201
22,698		 Total
funds
2023
£
48,354
629,452
86
677,892
677,705
677,705
187
105,712
105,899		 Total
funds
2022
£
63,657
561,126
1
624,784
630,470
630,470
(5,686)
111,398
105,712

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

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COMMUNITY FURNITURE STORE (YORK) LTD COMPANY NUMBER 05748697

BALANCE SHEET AT 31 MARCH 2023

Note
Fixed assets
Intangible assets
9
Tangible assets
10
Current assets
Stocks
11
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within one year
13
Net current assets
Net assets
The funds of the charity
Unrestricted income funds
15
Restricted income funds
15
Total charity funds		 2023
£
642
23,406
24,048
21,037
37,882
63,703
122,622
(40,771)
81,851
105,899
83,201
22,698
105,899		 2022
£
940
29,824
30,764
14,824
30,692
53,747
99,263
(24,315)
74,948
105,712
93,143
12,569
105,712

These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the 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) (effective 1 January 2019).

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

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COMMUNITY FURNITURE STORE (YORK) LTD COMPANY NUMBER 05748697

BALANCE SHEET AT 31 MARCH 2023

The financial statements were approved by the Board of Trustees on 28 November 2023 and were signed on its behalf by:

…………………………… …………………………… David Nash Prakash Mistry

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COMMUNITY FURNITURE STORE (YORK) LTD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

£
Cash generated from operating activities:
Net income/(expenditure) for the year
187
Reconciliation to net cash inflow
from operations:
(Increase) in stocks
(6,213)
(Increase)/decrease in debtors
(7,190)
Increase/(decrease) in creditors
16,456
Depreciation of tangible fixed assets
6,595
Amortisation of intangible fixed assets
310
Net cash inflow from operating activities
Investing activities
Purchase of tangible and intangible fixed assets
(189)
Net increase in cash
Cash at bank and in hand at the beginning
of the year
Cash at bank and in hand at the end of the year		 2023
£
£
(5,686)
(2,536)
7,756
(2,124)
9,166
463
10,145
(174)
(189)
9,956
53,747
63,703		 2022
£
7,039
(174)
6,865
46,882
53,747

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COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

The accounting policies have been applied consistently throughout the year and in the preceding year.

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and with the 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) effective 1 January 2019 (“the SORP”).

Income recognition policies

Items of income are recognised and included in the financial statements when all of the following criteria are met:

In particular, where the terms of grant income are that it can only be utilised against expenditure in years following the balance sheet date, the grant is not recognised as income in the year but is instead treated as deferred income within creditors.

Donated goods

The charity operates a retail Gift Aid scheme whereby it administers the sale of furniture on behalf of members of the public, who then donate the proceeds to the charity, enabling it to claim a tax credit. While this is legally considered to be a cash donation, in economic substance it is similar to a trading activity, and therefore both the sale proceeds and the tax credit are included within “income from charitable activities”.

The SORP requires that other donated goods should be measured at fair value. The charity has taken advantage of the exemption in the SORP which allows this treatment not to be adopted if it is impractical to measure the fair value of goods donated for resale or if the costs of valuation outweigh the benefit to users of the accounts and the charity of this information. Donated goods are therefore recognised when they are sold.

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COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred.

Expenditure on charitable activities comprises the costs of operating the store.

Governance costs are included within expenditure on charitable activities and are analysed separately in the notes to the financial statements. They include those costs associated with meeting the constitutional and statutory requirements of the charity, such as accountancy and other costs linked to the strategic management of the charity.

Fixed assets

Depreciation and amortisation are provided at the following rates in order to write each asset down to its residual value over its useful life:

Plant and machinery 20% reducing balance Fixtures and fittings 8 or 10 years straight line Motor vehicles 20% reducing balance Computer equipment 33% reducing balance Computer software 33% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

Restricted funds are subjected to restrictions on their expenditure. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Cash flow statement

The charity’s gross income exceeds £500,000 and consequently a cash flow statement is required by the SORP.

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COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2 Donations and grants

Donations and grants 2023
£
48,354		 2022
£
63,657

Of the total income from donations and grants, £38,413 (2022: £43,323) consisted of restricted fund income and £9,941 (2022: £20,334) of unrestricted fund income. Restricted fund income consisted of grants of £26,064 from City of York Council, £3,000 from Feofees, £1,000 from Common Good Trust, £7,000 from Joseph Rowntree, £1,000 from Friend Central Adult School and £349 from Enactus, all towards IT re-use. A total of £12,569 was held in restricted funds at 1 April 2022. Added to the £38,413 received during the year, a total of £50,982 was available for spending, and £28,284 was spent on salaries of employees involved in IT re-use. This left an unspent restricted fund of £22,698 at the end of the year.

Unrestricted income consisted of £9,941 from City of York Council.

3 Income from charitable activities

Shop income
Gift Aid tax credit
Management charges
Recharges of overheads to associated charities
Sundry income		 575,741
9,508
40,913
2,875
415
629,452		 510,572
14,409
29,244
6,825
76
561,126

Shop income includes £39,208 (2022: £59,420) representing donations from members of the public on which Gift Aid has been claimed from sale of their goods through the retail Gift Aid scheme.

4 Investment income

All of the charity’s investment income arises from money held in interest bearing deposit accounts.

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COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5 Analysis of expenditure on charitable activities

Direct costs:
Cost of goods sold
Purchases of goods and services for recharge
Support costs:
Wages and salaries
General office costs
Accountancy
Legal and professional

Grants
Governance costs:
Wages and salaries
Accountancy and independent examination
 2023
£
241,270
-
241,270
276,942
134,192
6,856
12,323
430,313
-
2,520
3,602
6,122
677,705		 2022
£
210,853
75
210,928		 2022
£
210,853
75
210,928
268,153
132,184
1,500
6,566
408,403
7,280
1,959
1,900
3,859
630,470		 7,280
1,959
1,900

3,859

Wages and salaries are apportioned between support and governance costs on a time basis, with 5% of the chief officer’s time being accounted for as governance costs. Accountancy costs are allocated to governance costs where they relate to information prepared for trustees’ meetings.

6 Net (expenditure)/income for the year

Net (expenditure)/income for the year is stated after charging:

Depreciation of tangible fixed assets – owned assets 6,595 9,166
Amortisation of intangible fixed assets – owned assets 310 463
Fees paid to independent examiner:
Independent examination 750 750
Other accountancy, VAT and consultancy services 2,900 2,650

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COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7 Trustees’ remuneration and expenses

No trustee was reimbursed any sum in respect of travel expenses during the year (2022: £nil) in relation to his/her trustee duties.

8 Staff costs

Wages and salaries
Social security costs
Payments to defined contribution pension schemes		 2023
£
255,743
19,037

4,682
279,462		 2022
£
248,244
28,729
3,139
270,112

The average number of staff during the year was 11 (2022: 13) and the average number of fulltime equivalent staff during the year was 10.1 (2022: 11.6).

No employees had employee benefits in excess of £60,000 (2022: nil).

9 Intangible fixed assets

9 Intangible fixed assets
Computer
software
£
Cost:
At 1 April 2022 6,434
Additions 12
At 31 March 2023 6,446
Amortisation:
At 1 April 2022 5,494
Less on disposals -
Amortisation for the year 310
At 31 March 2023 5,804
Net book value:
At 31 March 2023 642
At 31 March 2022 940

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COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10 Tangible fixed assets

Plant &
Fixtures &
Motor
Computer
machinery
fittings
vehicles
equipment
£
£
£
£
Cost:
At 1 April 2022
2,651
8,496
88,066
16,633
Additions
65
-
-
112
Disposals
-
-
-
-
At 31 March 2023
2,716
8,496
88,066
16,745
Depreciation:
At 1 April 2022
2,046
7,429
62,486
14,061
Less on disposals
-
-
-
-
Depreciation for the year
135
520
5,116
824
At 31 March 2023
2,181
7,949
67,602
14,885
Net book value:
At 31 March 2023
535
547
20,464
1,860
At 31 March 2022
605
1,067
25,580
2,572		 Total
£
115,846
177
-
116,023
86,022
-
6,595
92,617
23,406
29,824

11 Stocks

All the amounts shown as stocks are in respect of goods for resale. See note 1 for the treatment of donated stock.

20

COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12 Debtors

Trade debtors
Amounts due from associated undertakings (note 16)
Other debtors:
VAT repayment
Gift Aid tax credit
Grants due
Prepayments and accrued income
13 Creditors: amounts falling due within one year
Trade creditors
PAYE creditor
Accruals and deferred income		 2023
£
18,993
-
2,791
9,508
-
6,590
37,882
32,829
4,444
3,498
40,771		 2022
£
2,260
-
3,105
14,409
-
10,918
30,692
13,996
-
10,319
24,315

14 Analysis of net assets between funds

Intangible fixed assets
Tangible fixed assets
Current assets
Creditors: amounts falling
due within one year
Net assets at 31 March 2023		 General
Designated
Restricted
fund
funds
funds
£
£
£
642
-
-
23,406
-
-
69,924
30,000
22,698
(40,771)
-
-
53,201
30,000
22,698		 Total
funds
£
642
23,406
122,622
(40,771)

105,899

21

COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15 Movement in funds

Unrestricted income funds:
General fund
Designated fund
Restricted income funds:
IT re-use
Total funds		 1 April
2022
£
63,143
30,000
93,143
12,569
105,712		 Income Expenditure
Transfers
31 March
2023
£
£
£
£
639,479
(649,421)
-
53,201
-
-
-
30,000
639,479
(649,421)
-
83,201
38,413
(28,284)
-
22,698
677,892
(677,705)
-
105,899

The designated fund represents funds set aside by the trustees for the future replacement of fixed assets.

The restricted funds are explained at note 2.

16 Related parties

The trustees of the charity are also the trustees of Community Furniture Store (Selby) Ltd. During the year, the charity issued invoices totalling £22,922 plus VAT (2022: £19,035) to Community Furniture Store (Selby) Ltd. A total of £863 plus VAT (2022: £1,413) related to the recharge of stock, £19,184 plus VAT (2022: £14,622) related to management recharges, and the remainder consisted of the recharge of office equipment and professional fees.

The trustees of the charity are also the trustees of Community Furniture Store (Ryedale) Ltd. During the year, the charity issued invoices totalling £21,862 plus VAT (2022: £19,754) to Community Furniture Store (Ryedale) Ltd. A total of £133 (2022: £2,132) related to the recharge of stock, £18,854 plus VAT (2022: £14,622) related to management charges, and the remainder consisted of the recharge of office equipment and professional fees.

22

COMMUNITY FURNITURE STORE (YORK) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17 Operating lease commitments

The charity had the following future minimum lease payments under non-cancellable operating leases relating to premises for the following periods:

Within one year
Between one and five years		 2023
2022
(restated)
£
£
42,400
63,183
-
42,400
42,400
105,583

23

COMMUNITY FURNITURE STORE (YORK) LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
£
£
INCOME
Donations and grants
Grants
9,941
38,413
Income from charitable activities
Shop income
575,741
-
Gift Aid tax credit
9,508
-
Management charges
40,913
-
Recharges of overheads to Selby and
Ryedale stores
2,875
-
Sundry income
415
-
629,452
-
Investment income
Deposit account interest
86
-
Total income
639,479
38,413
EXPENDITURE (see page 26)
649,421
28,284
NET (EXPENDITURE)/INCOME
(9,942)
10,129		 Total
funds
2023
£
48,354
575,741
9,508
40,913
2,875
415
629,452
86
677,892
677,705
187		 Total
funds
2022
£
63,657
510,572
14,409
29,244
6,825
76
561,126
1
624,784
630,470
(5,686)

This page does not form part of the statutory financial statements.

24

COMMUNITY FURNITURE STORE (YORK) LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
£
£
EXPENDITURE
Expenditure on charitable activities
Cost of sales:
Cost of goods sold
241,270
-
Cost of goods and services recharged
to associated charities
-
-
241,270
-
Support costs:
Wages and salaries
248,804
28,138
Rent and rates
64,164
-
Insurance
3,904
-
Light and heat
8,661
-
Building maintenance
2,084
-
Telephone
2,056
-
Postage and stationery
6,203
-
Advertising
991
-
Membership fees
1,447
-
Staff entertainment and gifts
-
-
Uniforms and personal protective equipment
1,253
-
Recruitment and training
1,718
-
Motor and travel expenses
13,596
-
Software support
12,066
-
Legal and professional
12,323
-
Accountancy
6,856
-
Waste recycling
1,663
-
Workshop project
2,343
146
Conferences and events
583
-
Sundry expenditure
572
-
Depreciation of tangible fixed assets
6,595
-
Carried forward
397,882
28,284		 Total
funds
2023
£
241,470
-
241,270
276,942
64,164
3,904
8,661
2,084
2,056
6,203
991
1,447
-
1,253
1,718
13,596
12,066
12,323
6,856
1,663
2,489
583
572
6,595
426,166		 Total
funds
2022
£
210,853
75
210,928

268,153
61,461
3,593
6,017
903
2,561
4,707
3,572
1,182
466
1,027
2,243
18,772
9,968
6,566
1,500
1,819
1,072
356
55
9,166
405,159

This page does not form part of the statutory financial statements.

25

COMMUNITY FURNITURE STORE (YORK) LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
£
£
EXPENDITURE (continued)
Expenditure on charitable activities
(continued)
Support costs (continued)
Brought forward
397,882
28,284
Amortisation of intangible fixed assets
310
-
Bank charges and interest
3,837
-
402,029
28,284
Grants made
-
-
Governance costs:
Wages and salaries
2,520
-
Accountancy
3,602
-
6,122
-
Total expenditure
649,421
28,284		 Total
funds
2023
£
426,166
310
3,837
430,313
-
2,520
3,602
6,122
677,705		 Total
funds
2022
£
405,159
463
2,781
408,403
7,280
1,959
1,900
3,859
630,470

This page does not form part of the statutory financial statements.

26