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← Community Furniture Store (York) Ltd

2024-03-31-accounts

Community Furniture Store (York) Ltd FINANCIAL REPORTS For the year ending 31 March 2024

Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Contents

Page
Reference and Administrative Information 3
Directors’ Report 4
Trustees’ Annual Report 5
Independent Examiner’s Report 9
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Financial Statements 13

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Reference and Administrative Information

For the year ending 31 March 2024

Charity Details

Registered Charity Name: Community Furniture Store (York) Ltd

Charity Number: 1114605 (England and Wales) Principal Office Address: Unit 29 The Raylor Centre James Street York YO10 3DW Trustees: David James Nash (Chair from May 2023) Vera Van Gool (appointed November 2023) Timothy John Leonard (appointed May 2023) Nicholas Thomas Dennison Prakash Mistry Dr Matthew Farrelly David Graham Mitchell (Chair until May 2023) Tom Cooper Jenkins Sally Dillon (resigned November 2023) Kelly Cunningham (resigned May 2023) Chief Officer: Rebecca Blues (resigned July 2023) Katy Ridsdill-Smith (appointed September 2023) Independent Examinator: Nicola Ainscough FCA BSc Equilibrium Accountants Ltd 48 Goodramgate York YO1 7LF

Company Details

Company Name: Community Furniture Store (York) Ltd Governance Structure: Limited by guarantee Company Registration No.: 05748697 (England and Wales) Registered Office Address: Unit 29 The Raylor Centre James Street York YO10 3DW Directors: David James Nash (Chair from May 2023) Vera Van Gool (appointed November 2023) Timothy John Leonard (appointed May 2023) Nicholas Thomas Dennison Prakash Mistry Dr Matthew Farrelly David Graham Mitchell (Chair until May 2023) Tom Cooper Jenkins Sally Dillon (resigned November 2023) Kelly Cunningham (resigned May 2023)

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Directors’ Report For the year ending 31 March 2024

The directors (who are also the trustees of Community Furniture Store (York) Ltd for the purposes of charity law) present their report with the financial statements of the company for the year ending 31 March 2024.

Principal Activities

The principal activity of the company in the year under review was retail of furniture, lighting, and similar (not musical instruments or scores) in a specialised store.

Directors

The directors shown below have held office during the whole of the year from 1 April 2023 to 31 March 2024:

Political and charitable donations

No contributions were made to political or charitable organisations during the year.

Statement of directors’ responsibilities

The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. Company law requires the directors to prepare accounts for each financial year. Under that law, the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year. In preparing these accounts, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Qualifying third party indemnity provisions

No qualifying third-party indemnity provisions have been made during the year.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006; the provisions of Financial Reporting Standard 102 Section 1A for Small Entities and with the methods and principals of the Statement of Recommended Practice: Small Charities 2005.

Signed ON BEHALF OF THE BOARD by: ………………………………………. ……………………………………… i SN David Nash (Chair) Prakash Mistry (Treasurer) Date: ………………………………… Z| rox

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Trustees’ Annual Report

For the year ending 31 March 2024

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 2024. 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).

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.

Appointment of Trustees/Directors

Trustees are appointed to serve for three-year periods. From 2019, trustee terms of office have been limited to a total of nine years to reflect Charity Commission good practice guidance. Trustees are recruited following a skills audit of Board members to ensure that the Board has the right skills and experience. All trustees are inducted into the organisation by the Chair and CEO and relevant training is provided.

During the year the following charges occurred in the Trustee Board:

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.

Structure and History

The charity is part of a group of three separate charities, all with the same objectives and purpose. Community Furniture Store (York) Ltd operates in the York area. The other charities are Community Furniture Store (Selby) Ltd and Community Furniture Store (Ryedale) Ltd and they operate in Selby and Scarborough districts respectively. The organisations share a board, central management and administration team.

Originally, the charities were set up as independent charities to meet expectations of funders who tended to prioritise funding in their own localities. However, the funding landscape has changed and we are aware of the benefits that merging would bring to group of charities in terms of streamlining administration, clarity of strategy and a shared identity. In the Annual General Meeting held on 28 November 2023, the Board approved a motion to merge the three charities. This project is a work in progress.

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Charitable objects

Our charitable objects are:

Objectives, Vision and Purpose

Community Furniture Store is a grassroots charity that works with local communities in York to fight furniture and digital poverty. We do this by:

So that everyone in our local communities has equal access to the support needed to improve homes, lives and lifestyles.

Review of activities

We are an anti-poverty charity which supports people in need through the provision of good quality and affordable furniture. We do this by collecting pre-loved items of furniture and selling them on our shop floor at a low cost, with an additional 30% discount for anyone who is on means tested benefits.

Providing affordable furniture to people in need

Over the year 2023-2024, we provided a total of 2,642 household items at a 30% discount to people qualifying through receipt of means tested benefits which equates to a total discount of £40,106. We continue to see high demand for low-cost furniture which we attribute to external factors such as the cost-of-living crisis, inflationary pressures and an internal effort to increase our reach in the local community through social media, leaflets and partnership working. We are committed to meeting the growing needs of our community to ensure everyone has access to the items needed to make a house a home.

York Financial Assistance Scheme (YFAS)

We are contracted by the council to provide furniture and household items to those in our community who are most in need. Vouchers are issued to people, at no expense to them, for white goods and second-hand furniture. Over the reporting period, we have supported 421 households and delivered 2,059 items to people in need. CFS goes above and beyond to provide a person-centred and dignified experience to all recipients of YFAS from meeting them in store, to supporting with choosing items and delivering the items into their room of choice.

IT ReUse

Our IT Reuse project collects, refurbishes and redistributes digital devices such as laptops, tablets, and smartphones to individuals in the city of York who are at risk of digital exclusion. In addition to providing devices, the project provides volunteering opportunities to people looking to develop computer skills and gain experience. The initiative serves a diverse range of beneficiaries, including single-parent families, individuals affected by domestic abuse, refugees, and those with mental health needs.

Over the reporting year, the project collected, refurbished and distributed 271 devices and 168 internet connectivity packages in conjunction with the Good Things Foundation data connectivity package programme.

Volunteering

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

We gratefully welcome the support of our volunteers on both the shop floor and in IT ReUse. This year, we were supported by a total of 37 volunteers on the shop floor who gave their time, expertise and energy to supporting the fight against furniture poverty. The total number of volunteering hours equates to 3076 hours.

IT ReUse continues to be powered by its dedicated volunteers. Over the reporting period, the project was supported by 26 volunteers which equated to a total of 2344 volunteering hours. 4 IT ReUse volunteers successfully moved on into employment.

Over the year, our volunteering partnerships have grown as we develop our volunteering offer. We have been pleased to work in partnership with Community Payback, Choices College and Blueberry Academy to offer volunteers the opportunity to gain experience, learn new skills and grow in confidence.

Collaborative working

We are committed to working in partnership with local organisations, charities and statutory organisations to increase our shared impact. In March 2023, we launched a monthly Coffee Morning in partnership with York Cares aimed at reducing social isolation where anyone is welcome to join for a browse, cuppa and catch up. These have been a great success and regularly see around 10 people attending.

Environmental impact

While our charitable purpose is to fight furniture and digital poverty, we recognise that there is a significant environmental benefit to the work we do. Over the year, we have saved 7,027 items from incineration or landfill which equates to 165 tonnes. This has prevented 177 tonnes of CO2 from being released into the atmosphere.

Key personnel changes

In July 2023, Rebecca Blues left the charity to pursue other opportunities. The Board are grateful for her dedication to the charity and wish her the best of luck in her new role. Rebecca was replaced by Katy Ridsdill-Smith as CEO in September 2023. Katy appointed a new Finance Manager in January 2024 to bring our financial operations in-house. We remain supported by Equilibrium Accountants.

Plans for the future

We have been working towards launching our new ‘Looking-In Strategy’ at the start of the 2024 financial year which determines our 5 priorities:

  1. One charity: successfully merging the three charities alongside an organisational rebrand to streamline our operations and increase our impact across North Yorkshire

  2. A financially resilient charity: diversifying our streams of income and increasing our reserves through innovation, grant funding and online sales

  3. A healthy, inclusive and knowledgeable charity: ensuring we are equipping our people with the skills, knowledge and confidence to help us achieve our charitable mission

  4. A community charity: developing a Volunteering Programme that engages the local community through partnership and launching our anti-poverty strategy

  5. A safe, compliant and streamlined charity: implementing a new EPoS system to increase our productivity enabling us to support more people

Financial Review

The financial year has ended with a net surplus (total income less total expenditure) of £7,292, made up of a net surplus on unrestricted funds of £19,347, and a net deficit on restricted funds of £12,055.

Total charitable income in 2023/24 was £706,090, compared to £677,892 in 2022/23 an increase of £28,198.

Total expenditure on charitable activities in 2023/24 was £698,798, compared to £677,705 in 2022/23 an increase of £21,093.

The balance on unrestricted funds will increase the charity reserves. Whereas the balance on restricted funds will be carried forward to next financial year, in accordance with restricted grant funding requirements.

Reserves policy

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Trustees have agreed a policy to hold unrestricted funds not invested in fixed assets of between three and six months of budgeted overhead expenditure excluding exceptional items, so that activities can continue in the event of a significant drop in income or a significant increase in expenditure.

As at 31 March 2024 the target unrestricted reserves is £162,076 (3 months). The financial statements show that unrestricted reserves are currently £102,548 which is £59,528 below this. Budgets were set with a target surplus to increase the level of unrestricted reserves, and this will continue in the new financial year.

The reserves balance does not include the value of goods donated for resale in store at year end. This is because the charity has taken advantage of the exemption in the SORP allowing us not to value donated goods at fair value, as it’s impractical to measure the fair value of goods donated for resale so donated goods are therefore recognised when they are sold.

The charity also gratefully receives restricted grant funding for a specified purpose. These funds are kept separate to unrestricted reserves and used in accordance with the terms and conditions of the grant funding.

Risk Management

The CEO maintains a risk register which is reviewed quarterly at Board meetings. The Board monitors impact, probability, mitigations taken and identifies any additional action required.

Trustees’ responsibility statement

The trustees (who are also the directors of Community Furniture Store (York) Ltd for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 company and the income and expenditure of the company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Going Concern

The charity has generated a small surplus for the year and marginally improved upon its cash reserves. As such, at the date of signing these financial statements, the trustees expect the charity to continue to trade for the foreseeable future. On this basis, the trustees have prepared these financial statements on a going concern basis.

Signed ON BEHALF OF THE BOARD by:

……………………………………. …………………………………….. fi Oe David Nash (Chair) Prakash Mistry (Treasurer) Date: ………………………………. BBL (rose

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Independent Examiner’s Report

For the year ending 31 March 2024

I report on the accounts of Community Furniture Store (York) Ltd for the year ending 31 March 2024, which are set out on pages 10-20.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items of disclosures in the accounts and seeking explanations from you as trustees consequently no opinion is given as to whether the accounts present a “true and fair view”, and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

Have not been met, or

Nicola Ainscough FCA BSc Chartered Accountant Equilibrium Accountants Ltd 48 Goodramgate, York, YO1 7LF

8 November 2024

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Statement of Financial Activities (Including the Income & Expenditure Account)

For the year ending 31 March 2024

For the year ending 31 March 2024

Notes
INCOME
Incoming and endowments from:
Donations and grants
4
Charitable activities
5
Investments
6
Total incoming resources
EXPENDITURE
Expenditure on:
Charitable activities
7
Total resources expended
Transfer between funds
Net income / (expenditure) for the year
8
RECONCILIATION OF FUNDS
Total funds brought forward as at 1 July 2023
Total funds carried forward as at 30 June 2024		 Restricted
Funds
£
Unrestricted
Funds
£
38,440
4,362
-
663,288
-
-		 Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
42,802 48,354
663,288 629,452
- 86
38,440
667,650
50,495
648,303		 706,090 677,892
698,798 677,705
50,495
648,303		 698,798 677,705
(12,055)
19,347
22,698
83,201
- -
7,292 187
105,899 105,712
10,643
102,548		 113,191 105,899

The notes on pages 13-20 form a part of these financial statements.

A Statement of Total Recognised Gains and Losses is not required as all gains and losses are included in the Statement of Financial Activities.

There is no difference between the net income / (expenditure) for the year above and the historical cost equivalent. All activities are continuing.

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Balance Sheet

As at 31 March 2024

Balance Sheet
As at 31 March 2024
As at 31 Mar As at 31 Mar
24 23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 11 430 642
Tangible assets 12 19,002 23,406
CURRENT ASSETS
Stocks 13 10,274 21,037
Debtors 14 75,134 37,882
Cash at bank and in hand 54,212 63,703
139,620 122,622
Creditors: Amounts falling due within one year 15 (45,861) (40,771)
Net Current Assets / (Liabilities) 93,759 81,851
Total Assets less Current Liabilities 113,191 105,899
Creditors: Amounts falling due after more than one
- -
year
Net Assets 113,191
105,899
~~imi~~
FUNDS
Unrestricted income funds 17/18 102,548 83,201
Restricted income funds 17/18 10,643 22,698
Total Funds 113,191 105,899

The notes on pages 13-20 form a part of these financial statements.

Directors’ benefits: advances, credit and guarantees

During the year no benefits, in the form of advances, credit and guarantees, were conferred upon directors of the company.

Guarantees and other financial commitments

During the year no guarantees or other financial commitments were made.

For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and did not exceed the audit threshold under the Charities Act 2011 for the year in question. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of both the Companies Act 2006 and the Charities Act 2011, with respect to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A – Small Entities.

The financial statements on pages 10-20 were approved by the members of the committee and authorised for issue on __ and are signed on their behalf by: z9(v (ww ___ ___ fr Ces David Nash (Chair) Prakash Mistry (Treasurer)

Company Registration Number: 05748697

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Statement of Cash Flows

As at 31 March 2024

Statement of Cash Flows
As at 31 March 2024
Notes
As at
31 Mar 24
£
CASH FLOWS FROM OPERATING ACTIVITIES
(9,142)
CASH FLOW FROM INVESTING ACTIVITIES
Payments to acquire tangible and intangible fixed assets
(349)
Hire purchase payments
-
Net cash flow from investing activities
(349)
Net increase / (decrease) in cash and cash equivalents
(9,491)
Cash and cash equivalents at 1 April 2023
63,703
Cash and cash equivalents at 31 March 2024
54,212
Cash and cash equivalents consists of:
Cash at bank and in hand
54,212
Cash and cash equivalents at 31 March 2024
54,212
Reconciliation of net income / (expenditure) to net cash flow from operating activities
Notes
As at
31 Mar 24
£
Net income / (expenditure) for the year
7,292
Interest receivable
-
Depreciation and impairment of tangible fixed assets
4,753
Amortisation and impairment of intangible fixed assets
212
Interest on hire purchase agreements
-
(Increase) / decrease in stock
10,763
(Increase) / decrease in debtors
(37,252)
(Decrease) / increase in creditors
5,090
Net cash flow from operating activities
(9,142)		 As at
31 Mar 24
£
(9,142)
(349)
-


As at
31 Mar 23
£

10,145

(189)

-
(349)
(9,491)
63,703
(189)

9,956

53,747
54,212
63,703
54,212

63,703
54,212
63,703



As at
31 Mar 23
£

187

-

6,595

310

-

(6,213)

(7,190)

16,456
(9,142)
10,145

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Notes to the Financial Statements

For the year ending 31 March 2024

1. STATUTORY INFORMATION

Community Furniture Store (York) Ltd is a private company, limited by guarantee, registered in England and Wales, registration number 05748697. The registered office and principal place of business is Unit 29 The Raylor Centre, James Street, York, YO10 3DW.

2. COMPLIANCE WITH ACCOUNTING STANDARDS

The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, the Accounting and Reporting by Charities for Smaller Entities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (Effective January 2015) - (Charities ‘SORP’ (FRS 102)); the provisions of FRS 102 Section 1A – Small Entities and all other applicable accounting standards in the United Kingdom.

3. ACCOUNTING POLICIES

Basis of accounting

The financial statements are prepared on a going concern basis, under the historical cost convention.

The charity has adjusted the formats of those prescribed by the Companies Act 2006 to include headings that are relevant to its activities, to enable it to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The principal accounting policies, which have been applied consistently in the year, are set out below.

Revenue Recognition

Revenue is recognised in respect of gifts, donations, and funds received for goods and services supplied during the year, exclusive of trade discounts, upon receipt.

Cash Flow Statement

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

Fixed Assets

All fixed assets are capitalised and included at cost, including any incidental expenses of acquisition.

Depreciation is provided on tangible fixed assets at rates calculated so as write off the cost of an asset, less it’s estimated residual value, over the useful economic life of that asset as follows:

Land & Buildings - 10% or 20% straight line
Computer Equipment - 33% reducingbalance
Computer Software - 33% reducingbalance
Vehicles - 20% reducingbalance
Plant & Equipment - 20% reducingbalance
Fixtures & Fittings - 10% or 20% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slowmoving items.

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’.

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

The SORP requires that 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 of 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 the are sold.

Hire Purchase Agreements

Where an asset is purchased under a hire purchase agreement, the asset is capitalised and depreciated over its estimated useful life. The cash price is treated as an obligation under a hire purchase agreement and recognised as a liability. The liability is reduced as payments are made, and interest is recognised as an expense and an increase in the liability.

Taxation

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

Allocation and apportionment of costs

All costs are allocated between the expenditure categories noted above on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. on a time expended basis or estimated usage.

Support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll, and governance costs which support Community Furniture Store (York) Ltd activities.

Governance costs include the cost of audit of the annual accounts, legal and professional fees and the charges levied in managing the bank accounts.

Funds structure

Unrestricted funds are funds that are available for use or retention at the discretion of the Trustees, in accordance with the Charity’s objects. Restricted funds are used as and when the actual expenditure on specific projects is incurred.

4. DONATIONS AND GRANTS

. DONATIONS AND GRANTS
Restricted
Funds
£		 Unrestricted
Funds
£		 Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Donations andgrants*
Cityof York Council 16,000 - 16,000 36,005
Feofees - - - 3,000
Common Good Trust - - - 1,000
Joseph Rowntree - - - 7,000
Friend Central Adult School - - - 1,000
Enactus - - - 349
Charles and Elsie Sykes Trust 500 - 500 -
Prince of Wales Charitable Fund 1,000 - 1,000 -
Skipton BuildingSociety 3,000 - 3,000 -
Sylvia and Colin Shepherd Charitable Trust 8,000 - 8,000 -
CYC Adult Social Care 9,940 - 9,940 -
Breathe - 402 402 -
Aviva - 3,960 3,960 -
38,440 4,362 42,802 48,354

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

5. CHARTIABLE ACTIVITIES

5. CHARTIABLE ACTIVITIES
Restricted
Funds**
£


Unrestricted
Funds
£		 Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Income
ShopIncome -
594,790		 594,790 575,741
Gift Aid tax credit -
10,671		 10,671 9,508
Management charges -
55,790		 55,790 40,913
Recharges of overheads to associated charities -
-		 - 2,875
Sundryincome -
2,037		 2,037 415
-
663,288		 663,288 629,452

** Shop income includes £42,452 (2023: £39,208) 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.

6. INVESTMENTS

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

7. EXPENDITURE ON CHARITABLE ACTIVITIES

Restricted
Funds
£		 Unrestricted
Funds
£		 Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Direct costs: -
263,143
263,143
Cost ofgoods sold 241,270
-
263,143
263,143		 241,270
Support costs: 33,638
243,347
276,985
-
2,376
2,376
16,857
75,727
92,584
Wages and salaries 276,942
MarketingCosts -
General office costs 134,192
Accountancy -
9,629
9,629		 6,856
Legal andprofessional -
24,878
24,878		 12,323
Admin Costs -
5,158
5,158		 -
Vehicle Costs -
14,655
14,655		 -
Depreciation -
4,753
4,753		 -
Amortisation -
212
212		 -
50,495
380,735
431,230		 430,313
Governance costs: -
2,925
2,925
-
1,500
1,500
Wages and salaries 2,520
Accountancyand independent examination 3,602
-
4,425
4,425		 6,122
50,495
648,303
698,798		 677,705

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

8. NET INCOMING RESOURCES FOR THE YEAR

This is stated after charging:

This is stated after charging:
Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Depreciation 4,753
212
1,500
10,776		 6,595
Amortisation 310
Feespaid to independent examiner:
Independent examination 750
Other accountancy,VAT and consultancyservices 2,900

9. TRUSTEES’ REMUNERATION AND EXPENSES

No trustee was reimbursed any sum in respect of travel expenses during the year (2023: £nil) in relations to their trustee duties.

10. STAFF COSTS

Total staff costs were as follows:

Total staff costs were as follows:
Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Wages and salaries 252,996 255,743
Social securitycosts 14,946 19,037
Payments to defined contributionpension schemes 4,348 4,682
272,290 279,462

The average number of staff during the year was 12 (2023: 11) and the average number of full-time equivalent staff during the year was 10.32 (2023: 10.1).

No employees had employee benefits in excess of £60,000 during the year (2023: nil).

11. INTANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Computer
Software
£
Cost
As at 1 April 2023 6,446
Additions -
Disposals -
As at 31 March 2024 6,446

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Accumulated Depreciation
As at 1 April 2023 5,804
Charge for the year 212
Disposals -
As at 31 March 2024 6,016
Net Book Value
As at 31 March 2024 430
As at 31 March 2023 642

12. TANGIBLE FIXED ASSETS

Land &
Buildings
£		 Plant &
Equipment
£		 Fixtures &
Fittings
£		 Motor
Vehicles
£		 Computer
Equipment
£		 Total
£
Cost
As at 1 April 2023 4,760 2,716 3,736 88,066 16,745 116,023
Additions - - - - 349 349
Disposals - - - - - -
As at 31 March 2024 4,760 2,716 3,736 88,066 17,094 116,372
Accumulated Depreciation
As at 1 April 2023 5,041 2,181 2,908 67,602 14,885 92,617
Charge for theyear (281) 104 191 4,094 645 4,753
Disposals - - - - - -
As at 31 March 2024 4,760 2,285 3,099 71,696 15,530 97,370
Net Book Value
As at 31 March 2024 - 431 637 16,370 1,564 19,002
As at 31 March 2023 (281) 535 828 20,464 1,860 23,406

13. STOCK

All the amounts shown as stocks are in respect of goods for resale.

14. DEBTORS

DEBTORS
Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Trade debtors 56,919 18,993
Amounts due from associated undertakings(note 16) 95 -
Other debtors:
VAT repayment - 2,791

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

Gift Aid tax credit 10,671 9,508
Prepayments and accrued income 7,449 6,590
75,134 37,882

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Trade Creditors 27,642 32,829
PAYE Creditor 5,366 4,444
VAT Creditor 4,047 -
Accruals and Deferred Income 3,373 3,498
Other Creditors 5,433 -
45,861 40,771

The company secures the following liabilities disclosed under creditors falling due within one year:

Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Bank loans and overdrafts - -
- -

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 £24,390 plus VAT (2023: £22,922) to Community Furniture Store (Selby) Ltd. A total of £3,420 plus VAT (2023: £863) related to the recharge of stock, £12,177 plus VAT (2023: £19,184) 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 £35,728 plus VAT (2023: £21,862) to Community Furniture Store (Ryedale) Ltd. A total of £14,758 (2023: £133) related to the recharge of stock, £12,177 plus VAT (2023: £18,854) related to management charges, and the remainder consisted of the recharge of office equipment and professional fees.

In addition to this, during the year the York store paid invoices of £95 plus VAT (2023: £nil) which related to the Ryedale store. Debtors include this amount of £95 (2023: £nil) which was still owed to the York store at the yearend (2023: £nil)

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

17. MOVEMENT IN FUNDS

Balance at
31 Mar 23
£		 Incoming
resources
£		 Outgoing
resources
£		 Transfer of
funds
£		 Balance at
31 Mar 24
£
Unrestricted Income Funds:
General Funds 53,201 667,650 648,303 - 72,548
Designated Funds 30,000 - - - 30,000
83,201 667,650 648,303 - 102,548
Restricted Income Funds:
IT re-use 22,698 38,440 50,495 - 10,643
22,698 38,440 50,495 - 10,643
Total Funds 105,899 706,090 698,798 - 113,191

The designated fund represents funds set aside by the trustees for the future replacement of fixed assets. The restricted funds are explained at note 4.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

General
Funds
£		 Designated
Funds
£		 Restricted
Funds
£		 Total
Funds
£
Intangible fixed assets 430 - - 430
Tangible fixed assets 19,002 - - 19,002
Current assets 98,977 30,000 10,643 139,620
Creditors: amounts falling due within
one year		 (45,861) - - (45,861)
72,548 30,000 10,643 113,191
Creditors: amounts falling due after one
year		 - - - -
Net assets at 31 March 2024 172,548 30,000 10,643 113,191

19. OPERATING LEASE COMMITMENTS

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

Year to
31 Mar 24
Total
£		 Year to
31 Mar 23
Total
£
Within oneyear 42,400 42,400
Between one and fiveyears - -
- 42,400

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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Community Furniture Store (York) Ltd | Financial Reports - For the year ending 31 March 2024

20. COMPANY LIMITED BY GUARANTEE

The company is limited by members’ guarantees and therefore has no share capital. The guarantee given by members is limited to £1.

Community Furniture Store (York) Ltd | Company Limited by Guarantee

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