**REGISTERED COMPANY NUMBER: 5960870 (England and Wales) REGISTERED CHARITY NUMBER: 1117615**
**Report of the Trustees and Financial Statements for the Year Ended 31[st] December 2022**
**for**
**FURNISTORE IN EAST SURREY LIMITED**
**Contents of the Financial Statements for the year ended 31[st] December 2022**
||Page|
|---|---|
|Reference and administration details|2|
|Report of the Trustees|3 to 11|
|Independent Examiner's Report|12|
|Statement of Financial Activities|13|
|Balance Sheet|14 to 15|
|Notes to the Financial Statements|16 to 22|
Page 1
## **FURNISTORE IN EAST SURREY LIMITED**
## **REFERENCE AND ADMINISTRATION DETAILS**
|Charity Name:|Furnistore in East Surrey Ltd|
|---|---|
|Company Registration number:|5960870 (England and Wales)|
|Charity Registration number:|1117615|
|Date of Incorporation:|9thOctober 2006|
|Registered Office and Operational Address:|34 Holmethorpe Avenue|
||Holmethorpe Industrial Estate|
||Redhill|
||RH1 2NL|
|Trustees:|E S Baker – Chairman|
||F Clark|
||J C St A Essex|
||J G Mc Laughlin|
||G Owen|
||B P Jones|
||M D Taylor|
|Company Secretary:|M D Taylor|
|Bankers:|CAF Bank|
||25 Kings Hill Avenue|
||West Malling|
||Kent|
||ME10 4JQ|
|Solicitors:|Segens|
||Glade House|
||52 Carter Lane|
||London|
||EC4V 6EF|
|Independent Examiner:|David Wheeler FCCA|
||Cheeld Wheeler & Co|
||Chartered Certified Accountants|
||Redhill Chambers|
||2d High Street|
||Redhill|
||Surrey|
||RH1 1RJ|
Page 2
**FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees for the year ended 31[st] December 2022**
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31[st] December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity's objects and principal activities as set out in its memorandum and articles of association continue to be:
- (i) the relief of poverty in East Surrey by means of the provision of good quality owned and other furniture, appliances and household goods at affordable prices to low-income families and individuals in need
- (ii) the advancement of environmental protection by means of reducing the volume of furniture and household goods disposed of into the waste stream
- (iii) workplace training by providing work experience, training, support and development of volunteers, including those with special support needs
The charity's aims are:
- (i) to benefit those less fortunate by providing them with furniture, furnishings and white goods without charge or at low cost, thus giving them self-esteem and enabling them to take their place in society,
- (ii) to re-use goods wherever possible,
- (iii) to train and develop its volunteers, to help some of them back into paid employment and to give its volunteers a sense that they are themselves helping others who are less fortunate, by their activities
The main objects are the relief of poverty amongst individuals and families in East Surrey by collecting as much donated furniture as possible, carrying out cleaning, minor repairs and where appropriate PAT testing, before delivering it to those having a genuine need; also selling items at discount to individuals and families with proven need and selling to the wider public in order to finance the operations. Further objectives are to reduce the volume of waste going to landfill and to provide training and development opportunities to volunteers and staff.
## **Public benefit**
As stated above, the charity's primary objective is the provision of furniture to economically and/or socially disadvantaged people in the East Surrey area.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Nature of the governing document and constitution of the charity**
The charity is constituted as a company limited by guarantee and is therefore governed by its memorandum and articles of association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity and membership of the board of trustees is governed by the memorandum and articles of association.
## **Recruitment and appointment of new trustees**
Potential new trustees are required to fill in an application form, provide references and are then invited to a board meeting.
New trustees are given copies of:
- The charity’s constitution
- Latest Accounts
- Charity commission guidance CC3 The Essential Trustee
- Access to the policies and procedures
Page 3
## **FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees**
## **for the year ended 31[st] December 2022 continued**
Subject to satisfactory interview and references, and accepting the responsibilities as defined in the Charity Commission guidelines on the responsibilities of charity trustees, the new member is voted onto the board.
Trustees are appointed on a three-year term, when they may step down or seek re-election.
## **Organisational structure**
The paid manager, Neil Coughlan has operational responsibility for all aspects of running the work of Furnistore, under the direction of the board of trustees. The board meets regularly with the manager in attendance to monitor and facilitate the work of the charity, approve actions and plan for the development of the work. The manager meets with the Chairman of the board a week before each of the monthly board meetings to ensure that issues are discussed, and decisions taken when appropriate.
The work of the charity is carried out by both paid staff and volunteers. The manager role includes:
- Developing and maintaining links with charities and agencies which rely on Furnistore to help their clients
- Developing and maintaining relationships with statutory agencies and other service providers
- Working on marketing, fundraising and promoting the charity.
The trustees are grateful to all our wonderful volunteers who assist the manager with the above. Without our volunteers, Furnistore could not operate.
## **Membership of a wider network**
The charity is a founder member of Surrey Re-use Network. It enjoys good relationships with the local councils and housing agencies and the many agencies working with some of the neediest families and individuals in the East Surrey area.
## **FURNISTORE IN 2022**
## **The need for our service**
Furnistore has been in operation for 27 years and during this time South East Surrey has been quoted many times as one of the best places to live in the UK. However, throughout this time the amount of deprivation and people finding themselves “in need” has changed very little and the need for our service remains. People hitting rock bottom, in absolute poverty are to this day our key clients.
In 2022 we helped in excess of 60 families from Ukraine, Afghanistan, Syria, and Albania, in some cases with the entire contents of a home. Following every major conflict around the world, refugees and asylum seekers who have left everything that they own behind find their way to Furnistore and we are proud to be able to support them.
## **Details of significant activities (including its main programmes, projects and services provided) that contribute to the achievement of the stated objectives**
One of our most important activities in 2022 has been to help Ukrainian refugees. We had families hosting Ukrainian refugees coming in to purchase items across 2022, our manager Neil Coughlan used discretion to provide discounts or items free of charge from the charity’s own reserves in these exceptional circumstances. When unable to provide items free of charge, we gave a 50% discount. The tears and hugs of appreciation cut across any language barrier. We are proud to be able to help people when they need it most."
Here are some more words from our manager Neil Coughlan that illustrates the wonderful work we do:
“The team were often touched by the gratitude they receive from a wide spectrum of families that received free furniture from Furnistore. For example, people housed due to homelessness, ex-servicemen, patients in hospital, the traveller community, parents-to-be, foster carers, families struggling to pay private rentals and victims fleeing domestic abuse.”
“One particular family having arrived from the Philippines said they spent the weekend praying for a miracle and having found Furnistore have constantly told us since, we were that miracle. Their kind words and reaction to our help had many of our volunteers in tears.”
Page 4
**FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees**
## **for the year ended 31[st] December 2022 continued**
Furnistore also provided emergency packs to those that need them, we did this using a combination of donated items and our own reserves to purchase key items and provide them free of charge. Summary below:
**----- Start of picture text -----**
Emergency Pack Volume More information
Kitchen Packs contain plates, bowls, cups / mugs, cutlery, glasses,
tea towels, oven dishes, saucepans. We try to match the items as
Kitchen Packs 26 much as possible.
We take care to ensure all items are in good condition and
appropriate for those that need them.
We provide all kinds of bedding for the whole family where
possible. The packs contain duvets, pillows, fitted sheets, duvet
Bedding Packs 51
covers and pillowcases along with any other items we have
available.
We provide female, male, teenage girl/boy and young girl/boy packs
where availability allows us. These include towels, flannels,
Hygiene Packs 25
shampoo, shower gel, soap, deodorant, toothpaste, a toothbrush,
shaving gel and razors.
TOTAL 102
**----- End of picture text -----**
Some facts and figures that illustrate how we’ve met our objectives are provided in the ‘Summary of the main achievements of the charity during the year’ section below.
Many households were assessed and qualified for free of charge provision of basic essentials to the value of £17,189.
We’ve delivered primarily to the 3 local areas stated in our objectives (97% of 50% sales / 88% normal sales). We’ve also gone above and beyond by delivering 50% sales to 4 other districts. The below chart shows the main areas and other districts we’ve supported:
Page 5
**FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees**
## **for the year ended 31[st] December 2022 continued**
## **Contribution of volunteers**
The charity relies heavily on its wonderful volunteer workforce and continues to offer volunteering opportunities and training to the long term unemployed, ex-offenders and people with support needs, as well as volunteers from the wider community.
We also work with VARB, Richmond Fellowship, Job Centre, local colleges, the Probation Service, Surrey Choices and Transform Housing to assist with recruiting volunteers.
We are delighted that three volunteers have moved on into paid employment during this period.
We’re extremely proud of our volunteers and were very happy when they won the Mayor’s Team Award in 2022, a fantastic achievement and wonderful that they receive the recognition they deserve. We could not complete the great work that we do without them having completed 4,150 hours for us in 2022.
The charity has a governing board of 7 trustees (all of whom are volunteers) and was supported by a total of 41 operational volunteers over the year, some of whom are on training schemes, and some of whom require special support. The volunteers have benefitted from a basic induction, on-the-job training and a manual handling video and briefing.
## **Summary of the main achievements of the charity during the year**
Furnistore records items in weight so that we can claim Landfill reserve tax back from the UK government. Below shows some of the figures with some added context (‘Equivalent to’ are for illustration purposes only and use average item weights found online).
**----- Start of picture text -----**
Activity Amount Equivalent to Equivalent to
Donated and saved from landfill 88,198kg 1,470 Sofas Or 678 beds
Supplied free of charge 8,283kg 138 Sofas Or 64 beds
Sold at 50% discount 33,210kg 553 Sofas Or 255 beds
Sold at full price to fund operations 49,817kg 830 Sofas Or 383 beds
Brand new Electrical Items supplied free of charge to 23 23 Refrigerators
families referred via John Beane’s Charity
Additional items supplied free of charge to other families 11 11 Washing Machines
Volunteers
Volunteers in 2022 51 51 superheroes
Volunteer hours 4,150hrs 553 working days
**----- End of picture text -----**
Page 6
**FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees**
**for the year ended 31[st] December 2022 continued**
Donated Furniture from main local areas:
Breakdown of donated furniture from other areas:
Page 7
**FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees**
## **for the year ended 31[st] December 2022 continued**
## **Local Affiliates**
Furnistore works closely with a wide variety of organisations in the area who refer people to us. Anyone on benefits will receive 50% discounted furniture, individual circumstances are also considered.
The organisations Furnistore worked closely with in 2022 are: Reigate & Banstead Housing Team, I Choose Freedom (formerly known as Reigate & Banstead Womens’ Aid), Welcare, YMCA, CAB (Citizens Advice Bureau) from all over East Surrey, various local churches and local schools, Raven Housing Trust, Tandridge Council, Mole Valley Council, Clarion Housing Trust, Refugee Team at Reigate & Banstead, East Surrey Outreach Service, ESDAS, Transform Housing, Mayors Trust Fund, Parashoot, the Red Cross, East Surrey Hospital, Surrey County Council (various teams including Safeguarding team, Disability team and Homeless team, etc).
We also work hand in hand with Merstham Hub, various food banks including Loveworks, Stripey Stork, Age Concern, Renewed Hope Trust and many others by helping to send those in need to the right place so they receive the best support for their situation.
## **Significant changes and development plans for the future**
Our ongoing plans are to reach more of the people who most need our help. By their very nature those in most need are often hard to reach, therefore we are committed to improving our profile and communications with the huge variety of agencies and organisations who refer people to us.
We will achieve this by growing and improving our marketing reach, social media and by making personal visits to the relevant referral organisations. To further support this, in November 2022 the board of trustees changed their roles, Freda Clark stepped down as Company Secretary so that she could spend more time nurturing relationships with local organisations to reach more of the people that need our help.
To help us better serve our clients the board will consider taking on additional storage space, this will enable a buffer stock for emergencies and periods of high demand.
## **Financial Review**
At the start of 2022 our main source of income was from warehouse sales made possible by the generous support of public donations of their pre-loved furniture.
Some revenue funding came from donations for collections, Gift Aid and Landfill tax credits, delivery charges, and gifts from Friends of Furnistore.
Our clients benefitted from grants made by John Beane’s Charity.
During the year the charity’s total expenditure amounted to £105,153 .
At the 31[st of] December 2022, the charity had total funds of £359,465 (2021-£307,072) of which unrestricted funds amounted to £352,503 (2021 £295,354) and restricted funds £6,962 (2021 £11,718), which the trustees consider to be satisfactory.
Page 8
## **FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees**
**for the year ended 31[st] December 2022 continued**
## Full price sales by area:
## **The major risks to which the charity is exposed and review of systems to mitigate risks**
Risk factors to the sales-generated income would arise if incoming donations of furniture and household goods of adequate quality and quantity were to greatly reduce, or if the general public were to reduce their willingness to buy second hand items; risk factors to the charitable income from Friends, Churches and referrals would arise should there be no more poverty in East Surrey, in which case this income would be withdrawn and the charity would need to reconsider its objectives.
High-Street second-hand furniture shops as charity fund raisers impact on our sales and collections.
The staff and volunteers are given the appropriate Manual Handling training, policies and procedures are in place to mitigate against risk of injury to staff and volunteers. Where necessary, advice on employment matters is sourced from a local HR expert or from ACAS.
Difficulties recruiting volunteers and the loss of key staff would pose a significant threat. We are fortunate to have a loyal and committed core staff team, and the day-to-day running could be managed by several of the existing team, as happens during holidays and sickness.
The loss of the Chairman of the Board or our manager Neil Coughlan would both be difficult, as they have the greatest responsibility for developing and delivering the strategy, liaising with partner organisations and overseeing the business. The key retaining strategy is good supervision and support for the manager, and high-level input and follow-up on actions to support the Chair. To mitigate against these risks, Furnistore maintain policies and procedures so that any new manager or Chairperson will have a guide to follow to complete key tasks. In addition, trustees and other experienced staff are well placed to offer support.
Page 9
**FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees**
## **for the year ended 31[st] December 2022 continued**
The charity has limited financial risk. We maintain a very low mortgage loan; this is kept so that we have the ability to help more people in the future should we find a better suited premises and we need to obtain a higher mortgage for a new premises. The reserve policy is set to cover revenue costs.
## **Grant Making**
The charity does not give monetary grants, however Furnistore provide goods in kind. More details have been provided in the section named ‘Summary of the main achievements of the charity during the year’ above.
## **Reserve Policy**
The Trustees consider that reserves should be held in case of a reduction in income, or indeed a complete absence of income, so that vital costs, especially staff salaries, can be paid, if necessary, for at least three months. Also, the Trustees, as part of their target of reducing carbon footprint, will wish to replace the existing vehicle with one more environmentally friendly. Furthermore, the Trustees are seeking more suitable premises, with an improved location, to better serve those in need of our services. Therefore, they wish to hold sufficient reserves for the likely related costs, as and when such premises are found. The Trustees consider that the funds actually held are sufficient to cover the above requirements.
## **Share Capital**
The company is limited by guarantee and therefore has no share capital.
Page 10
**FURNISTORE IN EAST SURREY LIMITED**
## **Report of the Trustees for the year ended 31[st] December 2022 continued**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The charity trustees (who are also the directors of the charitable company for the purpose of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Recognised Accountancy Practice).
Company and Charity laws require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of the surplus or deficit of the charity. In preparing those 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 and estimates that are reasonable and prudent;
- State whether applicable UK accounting standards have been followed, subject to any natural departures disclosed and explained in the financial statements.
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will not continue on that basis.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website.
Chairman – Edward Baker
Secretary – Mark Taylor Date: 19 September 2023
Page 11
**Independent Examiner's Report to the Trustees of FURNISTORE IN EAST SURREY LIMITED**
I report to the trustees on my examination of the accounts of Furnistore in East Surrey Limited for the year ended 31[st] December 2022.
## **Responsibilities and basis of report**
As the charity trustees of the company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the Branch’s accounts as required under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. Accounting records were not kept in respect of the Branch as required by section 130 of the Act; or
2. That the accounts do not accord with those records; or
3. That account do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than the requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
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.
David Wheeler
D P Wheeler FCCA Cheeld Wheeler & Co Chartered Certified Accountants Redhill Chambers 2d High Street Redhill Surrey RH1 1RJ
Dated: 19 September 2023
Page 12
## **FURNISTORE IN EAST SURREY LIMITED**
## **Statement of Financial Activities (Incorporating Income & Expenditure Account) for the year ended 31[st] December 2022**
|Notes
**INCOME**
Grants and Donations
2
**Charitable activities**
3
Warehouse sales
Other trading activities
4
Investment income
5
**Total income**
**EXPENDITURE**
**Charitable activities**
Warehouse costs
Support costs
**Total expenditure**
**NET INCOME/EXPENDITURE AND**
**MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**||Unrestricted
Funds
£
23,773
118,728
-
203
142,704
34,054
51,501
85,555
57,149
295,354
352,503||Restricted
Funds
£
14,842
-
-
14,842
14,842
4,756
19,598
(4,756)
11,718
6,962||2022
Total
Funds
£
38,615
118,728
-
203
157,546
48,896
56,257
105,153
52,393
307,072
359,465||2021
Total
Funds
£
63,681
58,170
-
12
121,863
37,555
60,159
97,714
24,149
282,923
307,072|
|---|---|---|---|---|---|---|---|---|
||||||||||
The notes form part of these financial statements
Page 13
## **FURNISTORE IN EAST SURREY LIMITED**
## **Balance Sheet At 31[st] December 2022**
|Notes
**FIXED ASSETS**
Tangible assets
13
**CURRENT ASSETS**
Debtors
14
Cash at bank and in hand
**CREDITORS**
Amounts falling due within
one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after
more than one year
16
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL CHARITY FUNDS**|Unrestricted
Funds
£
226,100
20,441
48,840
69,281
(1,801)
67,480
293,580
(8,334)
285,246|Restricted
Funds
£
5,992
-
68,227
68,227
-
68,227
74,219
-
74,219|**2022**
Total
Funds
£
232,092
20,441
117,067
137,508
(1,801)
135,707
36,799
(8,334)
359,465
285,246
74,219
359,465|**2021**
Total
funds
£
238,186
8,060
73,449|
|---|---|---|---|---|
|||||81,509
(3,783)|
|||||77,726|
|||||315,912
(8,840)|
|||||307,072|
|||||295,354
11,718|
|||||307,072|
The notes form part of these financial statements
Page 14
## **FURNISTORE IN EAST SURREY LIMITED**
## **Balance Sheet - continued At 31[st] December 2022**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31[st] December 2022.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31[st] December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
............................................. E S Baker –Trustee
……………………………. B P Jones – Treasurer
19 September 2023
The notes form part of these financial statements
Page 15
**FURNISTORE IN EAST SURREY LIMITED**
## **Notes to the financial statements for the year ended 31[st] December 2022**
## **STATUTORY INFORMATION**
The charitable company is registered as a company limited by guarantee in England and Wales. The registered office address is 34 Holmethorpe Avenue, Redhill Surrey and the registration number at Companies House is 5960870. It is registered with the Charity Commission, number 1117615.
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company have been prepared in accordance with the Charities SORP 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in the United Kingdom and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, and it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised on expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
## **Raising funds**
Raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.
## **Charitable activities**
The costs of goods and services and ancillary trading costs that have been included in charitable activities. Support costs include the salary costs of the manager and the volunteer organiser.
## **Governance costs**
Costs include costs associated with trustees’ meetings, and expenses, independent examination fees, legal and professional fees and fees relating to the management of the charity's assets.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Freehold land|- nil|
|---|---|
|Freehold property|- 2% on cost|
|Improvements to freehold|- 20% on cost|
|Motor vehicles|- 20% on cost|
|Computer equipment|- 33% on cost|
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
The charity is exempt from value added tax on purchases and is partially exempt on sales, and any irrecoverable VAT is included with the individual transactions in income and costs.
Page 16
**FURNISTORE IN EAST SURREY LIMITED**
## **Notes to the Financial Statements - continued for the year ended 31[st] December 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds that have been designated by the trustees for a particular purpose.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Deferred income**
Grants receivable which relate to a specific time period, are recognised evenly over the relevant period. Other grants receivable are recognised when the charity becomes entitled to the relevant amounts. Such deferrals are shown in the notes to the accounts and are shown as creditors.
## **Capital Grants**
The board of trustees consider that any gifts of tangible fixed assets or grants of a capital nature given for a specific purpose and fully utilised in the furtherance of the objects of the charity should be credited to restricted income in the year received. When the fixed assets are purchased with donor grants, the capital expenditure is charged to the donor fund and transferred to the capital grants fund. The value of the capital grants fund represents the net book value of donor funded assets.
## **2. GRANTS AND DONATIONS**
|Donations
Grants
Gift aid
3.
**INCOME FROM CHARITABLE ACTIVITES**
**Activity**
Sales
Warehouse Sales
**4.**
**OTHER TRADING ACTIVITIES**
Fundraising events
Proceeds on sale of van
**5.**
**INVESTMENT INCOME**
Deposit account interest||**2022**
**2021**
£
£
19,056
18,609
-
35,325
19,559
9,787
38,615
63,681
**2022**
**2021**
£
£
118,728
58,170
**2022**
**2021**
£
£
-
-
-
-
**2022**
**2021**
£
£
203
12|**2022**
**2021**
£
£
19,056
18,609
-
35,325
19,559
9,787
38,615
63,681
**2022**
**2021**
£
£
118,728
58,170
**2022**
**2021**
£
£
-
-
-
-
**2022**
**2021**
£
£
203
12|**2021**
£
18,609
35,325
9,787
63,681
**2021**
£
58,170|
|---|---|---|---|---|
||||||
||||**2022**
**2021**
£
£
203
12||
Page 17
**FURNISTORE IN EAST SURREY LIMITED**
## **Notes to the Financial Statements - continued for the year ended 31[st] December 2022**
## 6. **NET INCOME**
Net income is stated after charging/(crediting):
|Depreciation – owned assets
**7.**
**CHARITABLE ACTIVITIES COSTS**
Direct costs
Support costs – see below
**8.**
**SUPPORT COSTS**
Wages and salaries
Premises costs
Other costs
**9.**
**GOVERNANCE COSTS**
Wages
Independent examiner’s fee
Accountancy fees
Legal fees
**10.**
**FINANCE COSTS**
Bank interest and charges
Debenture interest|||**2022**
£
6,094
**2022**
£
48,896
51,236
100,132
**2022**
£
22,593
6,927
21,716
51,236
**2022**
£
3,013
800
692
-
4,505
**2022**
£
516
-
516||**2021**
£
8,225|
|---|---|---|---|---|---|
||||||**2021**
£
37,555
47,997
85,552
**2021**
£
23,845
6,862
17,290
47,997
**2021**
£
6,707
750
810
-
8,267
**2021**
£
546
3,350
3,896|
## **11. TRUSTEES’ REMUNERATION AND BENEFITS**
Neither of the trustees claimed any expenses during the year (2021: nil)
Page 18
**FURNISTORE IN EAST SURREY LIMITED**
## **Notes to the Financial Statements - continued for the year ended 31[st] December 2022**
## **12. STAFF COSTS**
|Wages and salaries
Employer’s national insurance contributions
Employer pension costs
The average monthly number of employees during the year was as follows:
Charitable activity
Management and administration
Governance|**2022**
£
72,597
-
677
73,274
**2022**
4.0
1.5
0.5
6.5|**2021**
£
61,295
586
810
62,691
**2021**
3.5
2.0
0.5
6.0|
|---|---|---|
Page 19
## **FURNISTORE IN EAST SURREY LIMITED**
## **Notes to the Financial Statements - continued for the year ended 31[st] December 2022**
|**13.**
**TANGIBLE FIXED ASSETS **
**COST**
At 1st January 2022
At 31st December 2022
**DEPRECIATION**
At 1st January 2022
Charge for year
At 31st December 2022
**NET BOOK VALUE**
At 31st December 2022
At 31st December 2021
**COST**
At 1st January 2022
At 31st December 2022
**DEPRECIATION**
At 1st January 2022
Charge for year
At 31st December 2022
**NET BOOK VALUE**
At 31st December 2022
At 31st December 2021
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments|Freehold
land&
building
Improvements
to freehold
building
£
£
240,500
18,120
240,500
18,120
12,800
18,120
1,600
-
14,400
18,120
226,100
-
227,700
-
Motor
vehicles
Computer
equipment
£
£
22,470
6,393
22,470
6,393
11,984
6,393
4,494
-
16,478
6,393
5,992
-
10,486
-
**2022**
£
-
19,201
1,240
20,441|Plant and
machinery
£
16,839
16,839
16,839
-
16,839
-
-
Totals
£
304,322
304,322
66,136
6,094
72,230
232,092
238,186
**2021**
£
1,244
5,875
941
8,060|
|---|---|---|
||||
Page 20
## **FURNISTORE IN EAST SURREY LIMITED**
## **Notes to the Financial Statements - continued for the year ended 31[st] December 2022**
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
Other creditors and accrued expenses|**2022**
£
583
83
1,135
1,801|**2021**
£
373
2,610
800
3,783|
|---|---|---|
## **16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|Mortgage|**2022**
£
8,334
8,334|**2021**
£
8,840
8,840|
|---|---|---|
## **17. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Designated funds
Mortgage interest fund
Gold fund
Total designated funds
Total unrestricted funds
**Restricted funds**
Restricted funds
J Beanes
Information technology
New van
Training
Total restricted funds
**TOTAL FUNDS**|At 1.1.22
£
284,696
5,183
5,475
10,658
295,354
-
3,107
8,349
262
11,718
**£307,072**|Net movement
In funds
£
57,665
(516)
-
(516)
57,149
-
-
(4,494)
(262)
(4,756)
**£52,393**|Transfers
between
funds
£
(62,752)
-
62,752
62,752
-
-
-
-
-
-
-|At 31.12.22
£
279,609
4,667
68,227|
|---|---|---|---|---|
|||||72,894|
|||||352,503
-
3,107
3,855
-|
|||||6,962|
|||||**£359,465**|
Page 21
## **FURNISTORE IN EAST SURREY LIMITED**
## **Notes to the Financial Statements - continued for the year ended 31[st] December 2022**
## **17. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Designated funds
Mortgage interest
Gold Fund
Total designated funds
Total unrestricted funds
**Restricted funds**
Restricted funds
J Beanes
Land fill tax credits
Training
Information technology
New van
Total restricted funds
**TOTAL FUNDS**|Income
£
142,704
-
-
-
142,704
8,275
6,567
-
-
-
14,842
**157,546**|Expenditure
£
(85,039)
516
-
(516)
(85,555)
(8,275)
(6,567)
(262)
-
(4,494)
(19,598)
**(105,153)**|Net
movement
£
57,665
(516)
-|
|---|---|---|---|
||||516|
||||57,149
-
-
(262)
-
(4,494)|
||||(4,756)|
||||**52,393**|
## **18. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31[st] December 2022, apart from donations made by the trustees amounting to £780.
Page 22