2025-03-31-accounts

Community Furniture Store (Selby) Limited FINANCIAL REPORTS For the year ending 31 March 2025

Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

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 (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Reference and Administrative Information

For the year ending 31 March 2024

Charity Details

Registered Charity Name: Community Furniture Store (Selby) Limited

Charity Number: 1114619 (England and Wales) Principal Office Address: Unit 29 The Raylor Centre James Street York YO10 3DW Trustees: David James Nash Vera Van Gool Timothy John Leonard (resigned Feb 2025) Prakash Mistry Nicholas Thomas Dennison (resigned Oct 2024) Dr Matthew Farrelly David Graham Mitchell Tom Cooper Jenkins Thomas Meares (appointed Nov 2024) Emma Laura Thorne (appointed Nov 2024) Antony Jameson-Allen (appointed May 2025) Miles Goring (appointed Mar 2025) Chief Officer: Katy Ridsdill-Smith Independent Examinator: Nicola Ainscough FCA BSc Equilibrium Accountants Ltd 48 Goodramgate York YO1 7LF ____

Company Details

Company Name: Community Furniture Store (Selby) Limited Governance Structure: Limited by guarantee Company Registration No: 05748655 (England and Wales) Registered Office Address: Unit 29 The Raylor Centre James Street York YO10 3DW Directors: David James Nash Vera Van Gool Timothy John Leonard (resigned Feb 2025) Prakash Mistry Nicholas Thomas Dennison (resigned Oct 2024) Dr Matthew Farrelly David Graham Mitchell Tom Cooper Jenkins Thomas Meares (appointed Nov 2024) Emma Laura Thorne (appointed Nov 2024) Antony Jameson-Allen (appointed May 2025) Miles Goring (appointed Mar 2025)

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Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Directors’ Report For the year ending 31 March 2025

The directors (who are also the trustees of Community Furniture Store (Selby) Ltd for the purposes of charity law) present their report with the financial statements of the company for the year ending 31 March 2025.

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 2024 to 31 March 2025:

• David James Nash

• Vera Van Gool

• Timothy John Leonard (resigned Feb 2025)

• Nicholas Thomas Dennison (resigned Oct 2024)

• Prakash Mistry

• Dr Matthew Farrelly

• David Graham Mitchell

• Thomas Cooper Jenkins

• Thomas Meares (appointed Nov 2024)

• Emma Laura Thorne (appointed Nov 2024)

• Antony Jameson-Allen (appointed May 2025)

• Miles Goring (appointed Mar 2025)

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:

• select suitable accounting policies and then apply them consistently;

• make judgements and estimates that are reasonable and prudent; and,

• prepare the accounts on the going concern basis unless it is inappropriate to pressure that the company will continue in business.

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:

………………………………………. v ……………………………………… David Nash (Chair) Prakash Mistry (Treasurer) Date: ……

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Trustees’ Annual Report

For the year ending 31 March 2025

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 2025. 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:

• Timothy Leonard resigned from the Board in February 2025 due to work pressures

• Nicholas Thomas Dennison resigned from the Board in October 2024 due to personal reasons

• Thomas Meares joined the Board in November 2024

• Emma Laura Thorne joined the Board in November 2024

• Miles Goring joined the Board in March 2025

• Antony Jameson-Allen joined the Board in May 2025

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 (Selby) Ltd operates in the Selby area. The other charities are Community Furniture Store (York) Ltd and Community Furniture Store (Ryedale) Ltd and they operate in York 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. Since then, throughout the 2024-25 financial year, we have been preparing for the merger with support from external consultants. The merger is scheduled for completion at the end of 2026.

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Charitable objects

Our charitable objects are:

• 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.

Objectives, Vision and Purpose

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

• Providing opportunities to learn new skills and be part of a community through our workshops and Volunteering Programme

• Reusing and repairing donated items to provide quality and affordable furniture to people and families in need

• Working in partnership to provide IT equipment to people who would otherwise be digitally excluded

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, students and refugees.

Providing affordable furniture to people in need

Over the year 2024-25, we provided a total of 2,304 household items at a 30% discount to people eligible for our concessionary rate, supporting 1,406 households in the process. This equates to a total discount of £36,914 provided throughout the year. We have seen a 37% increase in uptake of the concessionary rate since last year 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.

Volunteering

This year, we welcomed a dedicated Volunteer Coordinator to lead our new Volunteering Programme, helping to grow our volunteer numbers and strengthen the range of activities we offer.

We are extremely grateful for the support of all our volunteers, who contribute their time, skills and energy to help us achieve our mission. This year, we welcomed 20 volunteers who supported our shop floor and van operations.

Our volunteering partnerships continue to grow. Over the year, we have worked with the Job Centre, the Rise programme, Worsley Court, Shaw Trust and Choices College to offer volunteers opportunities to gain experience, develop new skills and build confidence. Our Volunteering Programme has been supported by Up for Yorkshire, helping to expand volunteer capacity beyond our work at CFS and further into local communities in Selby through shared resources and capacitybuilding initiatives. We also greatly appreciate the support of local businesses through corporate volunteering days, including partners such as Aviva and Nestle.

Collaborative working

We are committed to working collaboratively with local organisations, charities and statutory organisations to increase our shared impact. We continue to receive referrals from organisations such as Signet House, North Yorkshire County Council

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

and East Riding of Yorkshire council to support their clients. We work in partnership with local charities, receiving referrals for people in need and supporting their work wherever we can.

Over the year, we worked closely with Up for Yorkshire to understand community needs. In response, we set up the Community Bike Project to provide second-hand bikes to people without access to transport which will be launching in April 2025.

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 5,656 items from incineration or landfill which equates to 128 tonnes. This has prevented 209 tonnes of CO2 from being released into the atmosphere.

Key personnel changes

There have been no key personnel changes during the year. Our staffing has remained steady, with no significant changes or disruptions. We remain supported by Equilibrium Accountants, The Health and Safety Consultants and Karen Weaver, HR consultant.

Plans for the future

We launched 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 £15,614, which more than covers the deficit made during the 2023-24 financial year of £10,928.

Total charitable income in 2024-25 was £278,654, compared to £237,913 in 2023-24, an increase of £40,741.

Total expenditure on charitable activities in 2024-25 was £263,040, compared to £248,841 in 2023-24 an increase of £14,199.

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

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 free reserves is £65,760 (3 months) of charitable expenditure. The financial statements show that free reserves are currently £26,156 which is £39,604 below this.

2025-26 budgets were set with a small surplus as a contribution to increase the level of general reserves, whilst taking into consideration the increase in budgeted costs particularly in staffing.

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

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

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:

• Select suitable accounting policies and then apply them consistently;

• Observe the methods and principles in the Charities SORP;

• Make judgements an accounting estimates that are reasonable and prudent; and,

• Prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the company will continue in operation.

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 surplus for the year and reasonably maintained 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:

……………………………………. …………………………………….. David Nash (Chair) Prakash Mistry (Treasurer)

Date:

….

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Independent Examiner’s Report

For the year ending 31 March 2025

I report on the accounts of Community Furniture Store (Selby) Limited for the year ending 31 March 2025, which are set out on pages 10-19.

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:

• Examine the accounts under section 145 of the 2011 Act

• To follow the procedures laid down in the General Directions given by the Charities Commission under section 145(5)(b) of the 2011 Act, and

• To state whether particular matters have come to my attention.

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:

• (1) Which gives me reasonable cause to believe that in any material respect the requirements

• To keep accounting records in accordance with section 130 of the 2011 Act, and

• To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

Have not been met, or

• (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

es

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Nicola Ainscough FCA BSc

Chartered Accountant Equilibrium Accountants Ltd 48 Goodramgate, York, YO1 7LF

10 October 2025

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

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

For the year ending 31 March 2025

For the year ending 31 March 2025
Notes INCOME Incoming and endowments from: Donations and grants 4 Charitable activities 5 Investments Other income 6 Total incoming resources EXPENDITURE Expenditure on: Charitable activities 8 Total resources expended Transfer between funds Net income / (expenditure) for the year 9 RECONCILIATION OF FUNDS Total funds brought forward as at 1 April 2024 Total funds carried forward as at 31 March 2025	Restricted Funds £ Unrestricted Funds £ 32,366 - - 245,463 - - - 825	Year to 31 Mar 25 Total £	Year to 31 Mar 24 Total £
		32,366	25,000
		245,463	212,913
		-	-
		825	-
	32,366 246,288 30,688 232,352	278,654	237,913
		263,040	248,841
	30,688 232,352	263,040	248,841
	- - 1,678 13,936 7,000 15,538
		-	-
		15,614	(10,928)
		22,538	33,466
	8,678 29,474	38,152	22,538

The notes on pages 13-19 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 (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Balance Sheet

As at 31 March 2025

Balance Sheet As at 31 March 2025
			As at		As at
			31 Mar 2025		31 Mar 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	11		3,318		7,758
CURRENT ASSETS
Stocks	12	2,423		2,740
Debtors	13	25,510		20,503
Cash at bank and in hand		36,418		38,279
		64,351		61,522
Creditors: Amounts falling due within one year	14		(29,517)		(46,742)
Net Current Assets / (Liabilities)			34,834		14,780
Total Assets less Current Liabilities			38,152		22,538
Creditors: Amounts falling due after more than one	15		-		-
year
Net Assets			38,152		22,538
FUNDS Unrestricted income funds Restricted income funds Total Funds	17/18 17/18		29,474 15,538 8,678 7,000 38,152 22,538 ~~Ss~~
The notes on pages 13-19 form a part of these financial statements.	The notes on pages 13-19 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 2025, 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 10-19 were approved by the members of the committee and authorised for issue on

and are signed on their behalf by: ___ fi ____ Ok David Nash (Chair) Prakash Mistry (Treasurer)

Company Registration Number: 05748655

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Statement of Cash Flows

As at 31 March 2025

Statement of Cash Flows As at 31 March 2025
Notes As at 31 Mar 25 £ CASH FLOWS FROM OPERATING ACTIVITIES 1,092 CASH FLOW FROM INVESTING ACTIVITIES Payments to acquire tangible and intangible fixed assets (2,953) Hire purchase payments - Net cash flow from investing activities (2,953) Net increase / (decrease) in cash and cash equivalents (1,861) Cash and cash equivalents at 1 April 2024 38,279 Cash and cash equivalents at 31 March 2025 36,418 Cash and cash equivalents consists of: Cash at bank and in hand 36,418 Cash and cash equivalents at 31 March 2025 36,418 Reconciliation of net income / (expenditure) to net cash flow from operating activities Notes As at 31 Mar 25 £ Net income / (expenditure) for the year 15,614 Interest receivable - Depreciation and impairment of tangible fixed assets 7,393 Interest on hire purchase agreements - (Increase) / decrease in stock 317 (Increase) / decrease in debtors (5,007) (Decrease) / increase in creditors (17,225) Net cash flow from operating activities 1,092	As at 31 Mar 25 £ 1,092 (2,953) -	As at 31 Mar 24 £
		18,059
		-
		(748)
	(2,953) (1,861) 38,279	(748)
		17,311
		20,968
	36,418	38,279
	36,418
		38,279
	36,418	38,279
		As at 31 Mar 24 £
		(10,928)
		-
		1,972
		140
		(1,021)
		(77)
		27,973
	1,092	18,059

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Notes to the Financial Statements

For the year ending 31 March 2025

1. STATUTORY INFORMATION

Community Furniture Store (Selby) Limited is a private company, limited by guarantee, registered in England and Wales, registration number 05748655. 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

For the year ending 31 March 2025, the company was entitled to exemption from the requirement, under Financial Reporting Standard 1: Cash Flow Statements (Revised 1996), on the grounds that the company is classified as small (as per the thresholds set from 6 April 2008). The trustees believe that a cash flow statement is necessary for a full understanding of the financial statements and have therefore included a cash flow statement.

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:

estimated residual value,over the useful economic life	of that asset as follows:
Land & Buildings	- 20% reducingbalance
Computer Equipment	- 33% reducingbalance
Vehicles	- 20% reducingbalance
Fixtures & Fittings	- 20% reducingbalance

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’.

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

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 they 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 (Ryedale) Limited 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 25 Total £	Year to 31 Mar 24 Total £
Donations andgrants
Heart of Yorkshire Fund	9,866	-	9,866	2,000
KingCharles III Charitable Fund	2,500	-	2,500	-
The Inspire Fund	1,000	-	1,000	-
Scurrah Wainwirght	4,000	-	4,000	-
UK Shared ProsperityFund	15,000	-	15,000	-
Dulverton Trust	-	-	-	5,000
SelbyTown Council	-	-	-	8,000
Sackler Trust	-	-	-	10,000
	32,366	-	32,366	25,000

5. CHARTIABLE ACTIVITIES

CHARTIABLE ACTIVITIES
	Restricted Funds** £	Unrestricted Funds £	Year to 31 Mar 25 Total £	Year to 31 Mar 24 Total £
Income
ShopIncome	-	233,273	233,273	205,064

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

Other Income	-	601	601	506
Gift Aid tax credit	-	11,589	11,589	7,343
	-	245,463	245,463	212,913

** Shop income includes £46,356 (2024: £29,199) 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. OTHER INCOME

During the year one of the company’s vehicles was written off. The payout received from the insurance company exceeded the residual value of the asset, creating a small profit of £825.

7. EXPENDITURE ON CHARITABLE ACTIVITIES

		Restricted Funds £	Unrestricted Funds £	Year to 31 Mar 25 Total £	Year to 31 Mar 24 Total £
Direct costs:		- 29,765 29,765
Cost ofgoods sold					24,522
		- 29,765 29,765			24,522
Support costs: Wages and salaries Management charges Marketing Costs General office costs (including rent) Accountancy Legal and professional Admin Costs Vehicle Costs Depreciation Hire purchase interest		14,228 137,631 151,859 11,250 23,066 34,316 - 450 450 5,043 28,591 33,634 - 50 50 - 261 261 - 994 994 - 9,809 9,809
					144,218
					21,184
					565
					39,066
					1,431
					5,455
					2,696
					6,542
		167 685 852			1,972
		- - -			140
		30,688 201,537 232,225			223,269
Governance costs:		- - - - 1,050 1,050
Management charges					-
Accountancyand independent examination					1,050
		- 1,050 1,050			1,050
		30,688 232,352 263,040			248,841

8. NET INCOMING RESOURCES FOR THE YEAR

This is stated after charging:

	Year to	Year to
31	Mar 25	31 Mar 24
	Total	Total

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

		£	£
Depreciation		852 1,050 50	1,972
Feespaid to independent examiner:
Independent examination			1,050
Other accountancy,VAT and consultancyservices			1,996

9. TRUSTEES’ REMUNERATION AND EXPENSES

No trustee was reimbursed any sum in respect of travel expenses during the year (2024: £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 25 Total £	Year to 31 Mar 24 Total £
Wages and salaries		133,820	131,429
Social securitycosts		10,074	9,005
Payments to defined contributionpension schemes		2,703	2,493
		146,597	142,927

The average number of staff during the year was 7 (2024: 7) and the average number of full-time equivalent staff during the year was 5.95 (2024: 6.23).

No employees had employee benefits in excess of £60,000 during the year (2024: nil).

11. TANGIBLE FIXED ASSETS

	Land & Buildings £	Plant & Equipment £	Fixtures & Fittings £	Motor Vehicles £	Computer Equipment £	Total £
Cost
As at 1 April 2024	24,449	-	5,855	19,160	3,118	52,582
Additions	-	-	105	2,682	166	2,953
Disposals	-	-	-	(19,160)	-	(19,160)
As at 31 March 2025	24,449	-	5,960	2,682	3,284	36,375
Accumulated Depreciation
As at 1 April 2024	24,449	-	4,773	12,620	2,981	44,823
Charge for theyear	-	-	238	537	79	854
Disposals	-	-	-	(12,620)	-	(12,620)
As at 31 March 2025	24,449	-	5,011	537	3,060	33,057
Net Book Value
As at 31 March 2025	-	-	949	2,145	224	3,318

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

As at 31 March 2024 - - 1,082 6,540 136 7,758

12. STOCK

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

13. DEBTORS

DEBTORS
		Year to 31 Mar 25 Total £	Year to 31 Mar 24 Total £
Trade debtors		1,269	2,800
Amounts due from associated undertakings(note 16)		1,052	1,052
Other debtors:		-	-
VAT repayment		2,950	1,630
Gift Aid tax credit		11,589	7,343
Grants due		-	-
Prepayments and accrued income		8,650	7,312
Other Debtors		-	366
		25,510	20,503

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

		Year to 31 Mar 25 Total £	Year to 31 Mar 24 Total £
Trade Creditors		19,590	40,273
Hirepurchase agreements		-	748
Amounts owed to associated undertakings		1,011	-
PAYE Creditor		2,682	2,582
Accruals and Deferred Income		6,234	3,139
		29,517	46,742

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

		Year to 31 Mar 25 Total £	Year to 31 Mar 24 Total £
Bank loans and overdrafts		-	-
		-	-

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

ONE	YEAR
	Year to	Year to
31	Mar 25	31 Mar 24
	Total	Total
	£

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

			£
Hirepurchase agreements		-	-
		-	-

16. RELATED PARTIES

The trustees of the charity are also the trustees of Community Furniture Store (York) Ltd. During the year, the charity issued invoices totalling £34,316 plus VAT (2024: £24,390) to Community Furniture Store (Selby) Ltd. A total of £nil plus VAT (2024: £3,420) related to the recharge of stock, £34,316 plus VAT (2024: £12,177) related to management recharges, including the recharge of office equipment and professional fees.

In addition to this, during the year the York store paid invoices of £1,011 plus VAT (2024: £nil) which related to the Selby store. Creditors include this amount of £1,011 which was still owed to the York store at the year-end (2024: £nil).

The trustees of the charity are also the trustees of Community Furniture Store (Ryedale) Ltd. Debtors include this amount of £1,052 (2024: £1,052) which was still owed from the Ryedale store at the year end.

17. MOVEMENT IN FUNDS

	Balance at 31 Mar 24 £	Incoming resources £	Outgoing resources £	Transfer of funds £	Balance at 31 Mar 25 £
Unrestricted Income Funds:
General Funds	15,538	246,288	(232,352)	-	29,474
Designated Funds	-	-	-	-	-
	15,538	246,288	(232,352)	-	29,474
Restricted Income Funds:
Heart of Yorkshire Fund	2,000	9,866	(8,292)	-	3,574
KingCharles III Charitable Fund	-	2,500	(1,000)	-	1,500
The Inspire Fund	-	1,000	-	-	1,000
Scurrah Wainwirght	-	4,000	(1,396)	-	2,604
UK Shared ProsperityFund	-	15,000	(15,000)	-	-
Dulverton Trust	5,000	-	(5,000)	-	-
	7,000	32,366	(30,688)	-	8,678
Total Funds	22,538	278,654	(263,040)	-	38,152

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

Community Furniture Store (Selby) Limited | Company Limited by Guarantee

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Community Furniture Store (Selby) Limited | Financial Reports - For the year ending 31 March 2025

	General Funds £	Designated Funds £	Restricted Funds £	Total Funds £
Intangible fixed assets	-	-	-	-
Tangible fixed assets	3,318	-	-	3,318
Current assets	55,673	-	8,678	64,351
Creditors: amounts falling due within one year	(29,517)	-	-	(29,517)
	29,474	-	8,678	38,152
Creditors: amounts falling due after one year	-	-	-	-
Net assets at 31 March 2025 5	29,474	-	8,678	38,152

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 25 Total £	Year to 31 Mar 24 Total £
Within oneyear		29,542	20,125
Between one and fiveyears		43,916	-
		73,458	20,125

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 (Selby) Limited | Company Limited by Guarantee

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