REGISTERED COMPANY NUMBER: 5960870 (England and Wales) REGISTERED CHARITY NUMBEIL 1117615 Report of the Trustees and Financial Statements for the year ended 31° December 2024 for FURNISTORE IN EAST SURREY LtMITED
FURNISTORE IN EAST SURREY LIMITED CoDtents of the Financial Statements for the year ended 31" December 2024 Page Reference and administration detsils Report of the Trnstees 3toll Independent Examinees Report 12 Statfflnent of Finattcial Activiti¢s 13 BalallcK Sheet 14to15 Notes to the Financial Statements 16to23
REFERENCE AND ADMtNISTRATION DETAILS Charity Name: Furnikn in East Surrey Ltd Company Registration number: 5960870 (England and Wales) 1117615 Date oflncowration: 9th October 2006 Registered Offirx and Operational Address: 34 HoJm¢thorpe Avenue Holmethorpe Industrial Estate RHI 2NL Trustees: E S Baker- Chairnwl F Clark JCStAEss¢x C Smalles G Owen B P Jones . Treasur M D Taylor M D Taylor CAF Bank 25 Kings Hill Avenue West Malling K¢nt MEIO 4JQ Solicitors: Segens Glade Hous¢ 52 Cart¢r Lanc London EC4V 6EF Independent Examijjcr: David Wh[Cr FCCA Cheeld Wheel¢r & Co charted C¢rtifi¢d Accountauts Redhill Chambers 2d High Street Surrey RHI IRJ
FURNISTORE IN EAST SURREY LIMITED gt Report of the Trnstees for the year ended 31 December 2024 The trthstees, who are also directOTS of the charity for the puq)oses of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 3 ISI December 2024. The trustees have adopted the PTovisions of Accounting and Reporting by Clwities: Statement of Reconllnended Practice applicable to charities preparing thciT accounts in accordance with the Financial Reportillg Standard applicable in the UK and Republic of Ireland (FRS 102) alld the Companies Act 2006. ORJKCTIVES AJYD ACTIVITIES Objectives and aims Thc chaTity's objects and principal activities as set out in its memorandum and articles of association continue to bc: thc relief of povety in East Suuey by means of the provision of good quality owned olher furniture, applianc¢s and houschold goods at affordable prices to low-income falljilies and individuals in ne the advancement of environmentsl protection by means ofreducing the volun]e of furni'ture and bousehold goods diswsed of into the waste stream workplace trdining by providing WO ¢xperi¢nce, training, support and development of voluntee[8 including those with special support needs Th¢ clwity's aims are: (i) to benefit those less fortunate by providing them with fiui]itUT¢, fiwnishings and white goods without charge or at low cos( thus giving them self-esteem alld enabling them to take their place in society, (li) to re-use goods wheiever possible. to train and develop its volunteers, to help some ofthem back into paid emplojrnent and to give its volunte¢rs a sense that they are themselves helping others who are less fortunate, by their activities. The main objects aTe the relief ofpovety amongst individuals and families ID East Suffey by collcctillg &s much donat furniture as possiblc, carrying out cleaning, minor repairs and where appropriate PAT testing, before delivering it to thos¢ having a genuine need. also selling items at discount to inth'viduals and faTnilies with proven nccd and selling to the wider public in oider to fance the opcratiolls. Fwther objectives are to reducc the volume of wastc going to landfill and to pmvide training and development opportunities to volullteus and staff. Publi¢ benefit As stated above, the charity's primary objectiv¢ is the provision of fllrniture to economically an(Vor socially disadvantaged peopl¢ in the East Surrey are& The trustccs arc satisfied that the objectives undertaken for public benefit and confirni that they have paid due regard for the Charity Conllnission guidance on public benefit and have complied with their duty under section 17 of the Chatities Act 2011.
FURMSTORE IN EAST SURREY LI[ITED $1 Report of the Trustees for tbe year ended 31 December 2024 Continued STRUCTISRE. GOVERNANCE AIYD TrL4NAGEMENT Nalure of the goveniing document and constitution of the charity The charity is constituted as a company limited by guarantee and is therefore governed by its memorandum and articles of association. The directois of the company are also tnte¢S of the charity. Eligibility for membership of the chlty and membership of the board of trustKs is govern¢d by the nwnordndum and articles of association. Reeruitment and appointment of new trnstees Potential new trustees are required to fill in an application fomL provide references and are then invited to a board meeting. New trnstees are given copies of.. The charity's constitution Latest accounts Charity con]Jnission guidance CC3 The Essential TTUStee Access to the po]icies and PTocedures Subject to satisfactory interview and reference& and cepting the responsibilities as defmed in the Charity Commission guidelines on the responsibilities of thaTity trnstees, the new member is voted onto the board. Trust$ are appointed on a three-y&qr terni when they may step down or seek Te-election. Organisational structure The paid manager, NeiI Coughlaa has operational rwonsibility for all aspects of running the WOTk of Furnistore, und¢r the direction of the board of trllstees. The board meets regularly with the manager in attendance to monitor and facilitate the work of the chlty. approve actions and plan for the d¢v¢lopment of the work. The manager meets with the Chainnan of th¢ board a w¢¢k before each of the monthly board meetings to ensure that issues are discusse and decisions taken when appropriate. The work of the 1'ty is vatried out by both paid staff and volunteers. The Manag role includes: Developing ana maintiining links with Charities and agencies which rely on Fun)istore to help their clients Developing and maintstning r¢lationships with statutory agencies and other service providers Working on marketin& fundraising and promoting th¢ Chlty. The trustees are grateful to all our wonderful voluntffTS who assist the manager with the above. Without our Voluntee Furnistore could not operate. Membership of a wider nelwork The chaTity is a founder m¢rnber of Surrey Re-use N¢twork. It enjoys gd relationships with the local ouncils and housing agencies and th¢ many agencies working with some of the neediest families and individuals in the East S¢Y area. FURNISTORE IN 2024 The need for our service Furnistor¢ ]w been in operation for 29 years and during this time South East s¢Y has been quoted many times as one of the best places to jive in the UK. However, throughout this time th¢ amount of d¢privation and people finding themselves "in need- has changed very littl¢ and the need for our service remains. People hitting rock bottonL in absolute poverty are to this day OUT key clients.
FURNISTORE IN EAST SURREY LIMITED Report of the Trustees for the year ended 31 December 2024 continued Here are some examples of tbe impaet Furnistore has made from 2024: One individual was referred to Furnistore by ESDAS and received support that enabled her to regain ind¢pend¢ncc and stability. In a heartwaTJning gcsturc of appreciation. her family baked all the cakes for OUT CbristTnas Sale Day, and her daughter has sincc cxwesscd intcrcst ill using Furnistore as the focus of a school project. A full-time employed clectriciall, privately T¢nting to providc a stable home for his triplet daughtcrs. approached Furnistore for support. Through a discretionary discounL he was ablc to fiunish his new hom¢ adequately and affordably. Moved by his experience, he later returned to purchase a Chrisbnas tree. On a third visiL he generously offered his professional services, volunteaing to assist with any ¢leGttical WOTk r¢quir¢d at Furnistor¢. Despite operating outside OUT designated arcffj Fumistor¢ Tesponded to a r¢ferral from a social worker in CTawley who had exhausted all local avenues for supporting a family living in sevcrcly poor conditions. Furnistore w&8 able to step in and provide much-necdcd assistance. W¢ have receivcd feedback that the family's CiTcumstan¢¢s have significantly impTov¢d as a result of OUT intervention. Our local parthership dir¢ctr)r. Freda Clark also continued her work of going out to community areas we have not focused on before and passing on what Furnistore do and how w¢ can help those in need. Detsils of significant activities (including its main programmes? projects and services provided) that contribute to the acbievem¢nt of the stated objeetives As the cost of living crisis continues to grow, so does our aim to help those most in need with access to our 50 % discount. As well as people on means tested benefit4 working families who were struggling to make ends meet are also entitled to it. For the second year rnnning, Furnistore achieved our goa] to pass mor¢ of our products at the discounted rate than we sell price. At the same time, we aim to help families most in need by gifiing free furniture. Furnistore s0 provided emergency packs to those that need thenL we did this by using a combination of donated items and our own Teserves to PUTchasc key itcms and Provide them free of charge. Some facts and figures that illustrate how we hav¢ mct our objectives are provided in th¢ 'Summary of the main achievements of the charity duTing the year, section below. Many households were assessed and qualified for free ofcharge provision ofbasic essentials to the valu¢ of £13,273 (2023 £10.842). W¢ have delivered PTitDarAly to the 3 local areas stated in our objcctivcs (97 % of 50 1 sales 185 % fi price sales). We have also gone above and bcyond by delivering 50 % sales to 4 other districts.
FURNISTORE IN EAST SURREY LIMITED Report of the Trnstees for the year ended 31" December 2024 continued SO /0 Sales: Tandridge 1186 Croydon Epsom & Ewlt Molevaliey Sussex 1% Relgate & Banstvad Full Price Sales: Tandiidge io Croydon Sussex 5q6 Mole Valley 24b Reieale & 8Jnslead 7391
FURNISTORE IN EAST SURREY LIMITED st Report of the Trustees for the year ended 31 December 2024 contiDued Contribution of volunteers The clwity relies heavily on its wonderful volunteer workforce and continues to offer volunteering opportunities and training to the long tern] unemployed, ex-offenders and people with support need as well as volunteers from the wider community. We also WOTk with VARB, Richmond Fellowship, Job Centre. local college& the Probloll Service, Surrey Choices and Transfonn Housing to &8SiSt with recruiting volunteers. Wc offer valuablc WOTk experience and supw)rt foT voluntccrs hclping them gain skills and achieve personal goals. We are dclighted when our volunteers move on into paid employment while none have during this poiod. wc've seen many becoming noticthly morc confidcnt during thcir time volunteering with Furnistore. Thc chlty has a governing board of 7 trustccs (all of whom aTC volunt¢CTS) and was supported by total of 50 operational voluntccrs ov¢r the year. some of whom ar¢ on training schcme& and somc of whom require spccial support. The volunteers have benefitted from a basic induction. on-the-job training and a manual handling video and briefmg. We could not Complete the great work that we do without th¢ support of our volunteers. Volunteering at Furnistore Furnistore provides a wami, frien<lly, and open environment offering 2-way ¢(m]llnunication, dialogue and feedback, appIaisal8 and a nurturing approach to one and all. Here are some stories about the journeys of some of our volwit¢¢rs from our manageT, Neil Coughlan. Note, all names hav¢ been changed. When Alan first joined, he would ]Jide in the kitchen or at the back of the warehouse leading colleagues to complain, especially as he was Teluctant to help load and unload the van. I spoke with him privately and I learned he hopes to get a paid job. I raised my concerns and pointed out that by actively partiCiping he could acquire skills including, customer service, team building. mentoring and b¢haviour modification. Since this discussion, Alan really turned a corner and is an active member of the team. He's popular with everyone, willing to pull his weight and now even mentors our new volunteers. I first mct C&8par when he was volunteciing at Age Concern. I persuaded him to come in for a chathere at Furnlstore. He loves it so much here that he gave up volunteering at Age Concern to spend MOTC time with us. Catherine Was volunteuing as an Admin Assistanl but when her dream of moving away bccam¢ a rcality shc told me she had to leavc. l plaIned that we really needed someonc to focus on our marketing and that this could be done remotely. Catherinc said that she loved the charity so much that she would be happy to do this and will help us to write case sthdies. SumnMry of the main achievements of the charity during the year Furnistorc records items in weight so that we can claim Landfill reserv¢ tax back from the UK government. Bclow shows some of the figures with some added context ('Equivalent to, are for illustration purposes onty and use average item weights found online).
FURNISTORE IN EAST SURREY LIMtTED Report of the Trustees for Ihe year ended 3101 December 2024 eonthiued Donated and satred from landfill Sup lied tree of charge Sold at 500/0 discount Sold at full price to fund operations Items Sold at full price to fund operations (kg) Volunteers Volunteer hours 88:198kg 8,?83kg 33.210k 95.342k 10,985k 3J.87Jk- 2.234 items 47.058 56 4.790 94.476k 13,272kg 32.SOkg 1185 items 44.15Qkg 50 5,500 49,817kg 51 4,150bFS Dollated furniture from main local areas: Cr•wley . Epmm & Eweil Twdrfdie 114 •1 Furnistore works closely with awide variety oforganisatiolls in the area who refer people to us. Anyone on benefits will receive 50% discounted furnitur4 illdivithal circumstances are also considere(L Thc OTgaDisations Furnistore WOTke41 closely with in 2024 are: Reigate & Banstead Housing TeanL I Choosc Freedom (fornicrly known as Reigate & Banstead Womens, Aid), Welcare, YMCA CAB (Citizens Advice Bureau) from all over East Suw. various local churches and local schools, Raven Housllig TrnsL Tandrtdge Council. Mole Valley CounciI. Clarion Housing Trust. Refugee TeaD] at Reigate & Banstea(L East Surrey Outreach Scniice, ESDAS, Transfomi Housing, Mayors Trusl Fun(L Parashooc the Red Cross, East Surrey Hospital, Sumy County Council (various teams including Safeguardmg tea Disability team and Homeless te&n, etc). We also work hand in hand with Merstharn Hub. various food banks including Loveworks Stripey Stork, Ag¢ Concern. Rcnewed Hope Trust and many others by helping to send those in need to the right place so they rec¢iv¢ th¢ best support foi their situatioll. Significant changes and development plans for the future In tenns of plalls for thc future, tbc Trnstees are seeking more suitable premises, with an improved locatio to belter serve those in need of our services.
FURNISTORE IN EAST SURREY LIMITED Report of the Trnstees for the year ended 318¢ Deeember 2024 continued Out ongoing plans are to reach more ofthe people who inost need our help, the Trustees believe a more su7table premises will help achicve tliis. By their very nature those in inost nced are oftcn hard to i'eaclL therefore we are committed to improving our profile and Gonjnwnications with the huge variety of ag¢n¢ies 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 relcvant rcfeffal organi5ations. To help us better serve our clients the board will consider taking on additional storage space, this will ¢nable a buffer stock for emergenci¢s and periods of high deman(L Finaneial Review At the start of ?024 our main source ofincomewas from warehousc sales made possible by the generous support of public donations of their pre-loved furniture. Some revenue fimdtng came from donations fi)r ¢oll¢ctions, Gift Aid aud Landfill tax credit4 delivery barge& and gifts from Friends of Furnistore. Our cIients benefitted from gratits made by John Beane's Charity. During the year the charity's total income was £178,563 (2023 - £180:107) and expenditure amounted to £l?6,970 (2023 £125,568), giTr:ing a surplus of £51,593 (2023 - £54,359). At 31 ¥t Deccmber 2024. the charity had total funds of £465,597 (2023 - 414.004) of which unrestricted funds amounted to £462,490 (2023 - £410,387) and restricted fiJnds £3:107 (2023 - £3,107), which th¢ trustees consider to be satisfactory. It is noted that the ToiaI Funds at I l DeCeber 2024, illcludes the Net Book Value ofthe Freehold Land and Buildings of £22? 900. The major risks to which the cbarity is exposed and reviejv of systems to mitigate risks Risk factors to the sa]es-geDerated income would arise if incoming donations of filllliture and household goods of adcquate quality and quantity were to greatly reduce, or if the genei'al public were to reduce their willingness to buy second hand itans. risk factors to the charitable income from Friend& Churches and referrals would atise should there be no inoi'e povety in East SwTey, in which c&se this income would bc withdrawn and thc charity would need to reconsider its objectivcs. High-street secolld-haud furniture shops as charity fid raiscrs impact on our sales and collections. The staff and volunteers are given the appropriate Manuat Handlmg training. policies and procedures are in place to n]itigatc against risk of it]jury to staff and volunteers. Where necessary, advice on employment matters is sourced from a local HR cxpert or from ACAS. Difficulties recrniting volunteers and the loss of key staff would pose a significant threat. We are fortunate to have a loya] and committed core staff team. and the day-to-day running could be nlanaged by s¢veraI of the existing teallL as happens during holidays and sickness. The loss of the Chainnan of the Board or our manager NciI Coughlan would botb be difficul¢ as they have the greatest responsibility for developing and deliveriiig the strategy. liaising with partner organtsations and overseeing the business. The key retaining strategy is good supervision and suppoit for the manager, and higb-level input and follow-up on actions to support thc Cliair. To mitigatc against these risks, Furnistore maintain policies and procedures so that any new inanager or Chairpcrson will have a guide to follow to complete key tasks. In additio trustees and other experienced staff are well placed to offer support.
FURNISTORE IN EAST SURREY LIMITED Report of the Trustees for the year ended 31" Deeember 2024 continued Th¢ charity has limited financial risk. We maintsin a very low mortgage loan. this is kept so that we have the ability to help more people in the futuTr should we find a better suited premises and we need to obtain a Iiiglier mortgage for a new premises. The reserve policy is set to cover revenue costs. Grant Making The charity does not give mOnetY grants. however Furnistore provide goods in kind. More details have been provided in the section named 'Summary ofthe main achievements of the charity during the year, above. Reserve Policy The Trustees consider that reserves should be held in case ofa reduction in income. or illdeed a coinplete absence of income, so that vital costs, especially staff salaries, tran b¢ paid, if necessary. for at Icast thi.e¢ Illollths. Also, the Trustees, as part of their target of reducing carbon footprinL will wish to replacc the existing vehicle with one more environmentally friendEy. Furtherniore. the Trustees are seekujg more suitable premiscs, with an improved location, to better serve those in need of our services. Thffl'efore. they wish to hoId sufficient rescrvcs for the likely reIated costs, as and when such premises are found. In addition, fijnds may well be necded for a new roof for the warehouse. The Trustees considcr that the fidS actually hcld are sufficient to covei the above Tequirements. Share Capital The company is limited by guarante¢ and therefore has no share capital. STATEMENT OF TRUSTEES, RESPONSIBILITIES The charity trustees (who are also the directors of the charitable company for the pUoSe of company law) aTe responsible for preparing a lrnstees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Recognised Accounlancy Practice). Cornpany and Charity laws require the Board of Trustees to prepare financial statements for each financial yeai" which give a true and fair view of the state of affairs of the chatitable company as at the end of the financial year and of the surplus or deficit of the charity. tn preparing those financial statements the lrnstees are required to: Sel¢ct suitable accounting policies and then apply them consistently. Observe the methods and principles in the Clwities SORP. Make judgements and estimates that are reasonable and PTudent' State wbether applicable UK accounting standards have been followed, subject to ally natural dq)artures disclosed and cxplaincd in the financiaI statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presum¢ that the clwltable company will not continue on that basis. io
FURNISTORE IN EAST SIIRREY LIWTED Report of the Trustee8 for tbe year ended 31yI December 2024 continued The trustees are responsible for maintaining proper accounting records which disclose with re&sonablc acciiracy at any tiine the financial Position ofthe ch&itable company and to enable them to ensure that the financial staternellts comply witb thc COMpeS 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 irrcgularities, The trustecs are responsible foi" the maintenance and integrity of th¢ charity and financial inforniation iticludcd on the charity's website. Chairman - Edward Bak Secretary - Mark Taylor Date: Jbl q/is
FURNISTORE IN EAST SURREY LIMITED Independent Examiner's Report to the Trustses of Furnistore East Surrey Limited I report to the trnstces on my examination of the accounts of Furnistore in East Sury Limited for the year ended 3 1st December 2024. Responsibilities and basis of report As the charily trustees of the cbaritable company you are i'esponsiblc for the preparation of the accounts in accordance with the requiremiTLts of the c.harities Act 2011 (the Act). I rcport in respect ofmy examination of the charity's accounts as required under section 145 ofthe 2011 Act and in carying out my examination I bave followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of thc Act. Independent examiner's statement I have completed my cxamination. I confinn that no matters have come to my attention in connection with the examination. giving me cause to believe that in any material rcspect.. Accounting records were not kept in iespect of the Charity as rquired by section 130 of the Act. or That the accounts do not accord with thos¢ TecoTds" or That the accounts do not comply with the applicable requiranents conceming the foTm and coutent of accounts set out iii the Charities (Accounts and Reports) Regulations ?008 other than the requirement that the accounts givc a 'true and fair view, which is not a rnatter considercd as part of an independent examination. I hav¢ no concerns and have come across no other matters in connection with the exan)inaiion to which attention should be drawn in this report in order to enable a proper understanding of th¢ accounts to be reached. David Wheeler D P Wheeler FCCA Cheeld Wheeler & C.0 Chartered Certified Accountallts Redhill ChambeTS 2d High Street Redhill Surrcy RHI IRJ Dated.. (k 12
FURNISTORE IN EAST SURREY LIMITED Statement of Financial Activitie8 (Incorpor&tiDg Inrne & Expendlthre Aecount) for the year ended 31" Deeember 2024 2024 Total Funds 2023 Totsl Funds Funds tNCOME GTants and donations Charitable activitA Warehouse sales Notes Funds 22.655 19J05 41.960 41.501 133.439 133.439 136.290 Investmellt income Total ineome 3.164 159.258 465 1,851 180.107 3,164 178,563 19.305 Charitable aetivitiej Warehouse costs Support co$ Governallce expeos¢s Total expenditure 48.674 48,058 9.933 107.665 19.305 68,979 48,058 70.939 45,202 9.427 125,568 19,305 126.970 NET INCOMEIEXPENDITITRE AND MOVEMENT IN Ft]NDS RECONCILIATION OF FUNDS Total fuDdJ brought forward TOTAL FUNDS CARRIED FORWARD 51.593 51.593 54.539 410,897 3,107 414,004 359,465 16 462.490 3.107 465,597 414.004 The notes forni pth of thes¢ financial statements 13
FURNISTORE IN EAST SURREY LIMITED Company number 5960870 Balanee Sheet at 31Jt December 2024 Unrestricted Funds 2024 Totsl Funds 2023 Totsl Funds Restricted Funds FIXED ASSETS Tangiblc assets 12 222,900 222,900 CURRENT ASSETS Debtors Cash at bank and in hand 225,998 13 12,006 232.738 244,744 12,006 235,845 247,851 3,107 3.107 16,752 177,358 194.110 CREDITORS Amounts falling du¢ within one ye8r NET CURRENT ASSETS 14 (4.123) (4.123) (4.991) 240,621 3.107 243,728 189.119 TOTAL ASSETS LESS CURRENT LIABILITIFS 463,521 3.107 466,628 415,117 CREDITORS Amounts falling due after more than one 15 (1,031) (1,031) (1.113) NET ASSETS 462,490 3,107 465.597 414.004 FUNDS Unrestricted funds 16 462,490 3.107 410,897 3.107 TOTAL CHARITY FUNDS 465.$97 414,004 The notes fom] part of these financial statements 14
FURNISTORE IN EAST SURREY LIMITED Balance Sheet- continued at 31° December 2024 The charitable coinpany is entitled to exemption from audit under selOn 477 of the CoynpaDies Act 2006 for the year ended 31¥t Dccember 2024. The members have not rquired the charAtable company to obtain all alldit of its financial statements for the year ended 3 1st December 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowl¢ their responsibilities for (a) ellsuTing that the charitable compaDy keeps accounting Tecords that comply with Sectiolls 386 and 387 ofthe Companies .4ct 2006 ld (b) prq)aring financial statcmcnts which give a true and fair view of the state of affairs ofthe charitable company as at the end of each financial year and of its SUluS or deficit for cach financial year in accordance with the requirements of Sections 394 and 395 and Iwhich othcTWiSC comply with the requirements of the Cojnpanies Act 2006 relating to financial statanents, so far as applicable to the charitable co]npany. These finallcial statements havc been prepared in accordance with the spe¢ia] provisions of Part 15 of the Companies Act 2006 r¢lating to small Chitable cornpani¢s. The fmancial statements were approved by the Board of Trnstees 8nd wer¢ signed on its behalf by.. ESBak -Trustee B P Jones - Treasur¢r The notes form part of these financial ststem¢nts 15
FURNISTORE IN EAST SURREY LIMITED 8t Notes to the financial statements for the year ended 31 December 2024 STATUTORY INFORMATION The ch2TitabJe company is reglstcred as a company liinited by guarantee in England and Wales. The registered office address is 34 H0bnethO¢ Avenue, Redhill Sutrey and the registration number at Companies House is 5960870. It is rcgistercd with the Charity Commission. number l 1176 l5. ACCOUNTING POLICIES Basis of preparing the financiaI statements The financial statements of the charitable company have been prepared in accordance with the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recou]mended Practice applicable to ch&ities preparing their accounts in the United Kingdom and Republic of Ireland and thc Companies Act 2006. The financial statemcnts have becn prepared undci. the historical cost convention. Furnistore ill East Surrey meets the d¢finition of a public benefit entity under FRS 102. Income All incom¢ is recogniscd in the Statement of Financial Athivitics once the charity has ¢ntitl¢ment to thc funds. and it is probable that the income will be received and th¢ amount can be measured reliably. Expenditure Liabilities &"e recognised on expendittwe as soon as there is a legal or constructive obligation COiTllnitting the charity i'o that expenditui'e, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obllgation cau be tneasured reliably. Expenditure is accounted for on an accruals basis and has been classified undcr headings that aggregate all cost relatcd to the category. Where costs cannot be direcdy attributed to particular headings, they have been aIlocated to activities on a basis consistent with the use of resources. Raising funds Raising funds includes all expenditure incutred by the charity to raise fimds for its charitable pury)oses and includes costs of all fundraising activities, events and non-charitable trading. Charitable activities The costs of goods and services and anci112ry trading costs that havc been included in charitable activiti¢s. Support costs include the salary costs of the ll]ager and the volunteer organiser. Governance costs Costs inclijde costs associated with trustees, Ineetings, and expcnses, indcpendent examination fee legal and profcssiona] fees and fees relating to the management of the charity's assets. Tangible fixed assets Dcpreciation is provided at the following amiual rates in order to write off ea¢h asset over its estimated usefid life. Freehold land Freehold propety Improvements to freehold Motor vehicles Computer equipment -2%oncost 200/0 on cost - 200/0 on cost 33 % on cost 16
FURNISTORI IN EAST SURREY LITrllTED Notes to the Financial Statements - Continued for the year ended 31" Deeentber 2024 ACCOITNTING POLICIES- continued Taxation The charity is exempt from CO4K)ration t&¥ on its charitable activities. The charity is exempt from value added tax on purchases and is partilY exempt on sales. and any i¢COVerable VAT is tncluded with the individual blSactiOnS in income and costs. Fund aecounting Unrcstrtctcd funds can be used in accordance with the charitable objcctivcs at th¢ discretion of tlie trustees. Designated funds are unrestricted funds that have been designat by the trustees for a particular pury)ose. Restricted fullds can only be used for particular restricted pury)oses within the objects of the charity. Resttictions arise when specified by the donor or when funds are raised foi palticular restricted puOses. Further explanation of the nature and putpose of each fimd is included in the notes to the financial statements. Deferred income Gr&its recei&'able which relate to a specific time pcrio(L ate recognised evenly over the relevant perio Other grants receivable are recognised when the charity becomes entitled to the relevant amounts. Such deferrals are shown in the notes lo the accounts and arc showll as creditors. Capital Grants The board of trustees consider that any gifts of tangibIe fixcd assets or grants of a capital nature given for a specific purpose and fully iitilised in the furtlia.ance of the objccts of the chlty should be credited to restricted income in the year receivcd. When the fixed assets arc purchased with donor grallts, the capitaI expenditure is charged to the donor fund and transferrcd to the capital grants fund. Thc value of the capital grants fund represents thc net book vaIue of donor fided asscts. GIL4NTS AND DONATIONS 2024 2023 Donations 17,813 15.187 1,240 25,074 41.501 Gift avd and landfill credits 24,147 41.960 INCOME FROM CHARITABLE ACTIVITIES 2024 Activity 2023 Sales Warehouse sales 133,439 136,290 INVESTMENT INCOME 2024 2023 Deposit account illt¢rest 3,164 1.851 17
FURNtSTORE tN EAST SURREY LIMtTKD Notes to the Financial Statements - conttnued for the year ended 31. December 2024 NET INCOME Net income is stated after chargIn(crediting). 2024 2023 Delation - Owlled &gsets 3.098 6.094 CHARITABLE ACTIVITIES COSTS 2024 2023 Direct costs Swylrt costs - see below 68.979 48.058 116,972 70,939 115,912 7. SIJPPORT COSTS 2024 2023 Wages and salaries 23.896 6,854 17.308 48,058 19,656 5.642 19,904 45.20? Other costs COVERNANCE COSTS 2024 2023 Wages 1ndedellt exan)iner's fee Accountancy fees 8,143 875 915 9,933 7,677 825 925 9,427 9. FINANCE COSTS 2024 2023 Bank interest 65 65 229 229 10. TRUSTEES, REmuTIONAND BENEFITS Neither of the knstees claimed ally expenses during th¢ year (2023.. nil) 18
FURNIsfoRE IN EAST SURREY LIMITED Notes to the Financial Statements - continued for the year ended 31. December 2024 11. STAFF COSTS 2024 2023 Wages and salaries Employer's national insurance contributions Employer pensioll costs 97.312 94.500 824 98,136 774 95,274 The average monthty number of employees during the year was as follows: Charitable a]Vity 2024 2023 Governance 10.0 19
FURNISTORE IN EAST SURREY LIMJTED Notes to the Financial Statements - continued for the year ended 31 December 2024 12. TANGIBLE FIXED ASSETS Freehold land & building Improvements to freehold buildillg Plant and macliinery COST At 1st January 2024 240.500 18.120 16,839 At 3 Isf Dccember 2024 240.500 18.120 16.839 DEPRECIATION At 1st Jalluary 2024 Chargc for year 16,000 1.600 18,120 16,839 At 3 1st December 2024 17,600 18.120 16.839 NET BOOK VALUE At 3 1st December 2024 At 3 1st De£ember 2023 2l4.500 Motor vehicles Computer equipment Totals COST At 1st January 2024 22,470 6,393 304.322 At 3 1" December 2024 22,470 6,393 304,322 DEPRECIATION At Itt January 2024 Charge for year 20,972 1,498 6,393 78,324 3,098 At 3 1st De£ember 2024 22.470 6.393 81,422 NET BOOK VALUE At 31" December 2024 222,900 At 3 1st December 2023 1,498 225,998 13. DEBTORS: AMOUNTS FALLING DUE WITHtN ONE YEAR 2024 2023 Trnde debtors Other debtors Prepayments 10.3?2 1.684 12,006 15,382 1,370 16,752 20
FURNISTORE IN EAST SURREY LINQTED Note8 to the Financial Statements - conlinued for the year ended 31" December 2024 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade ItorS Social secwity and other tsxes 156 2.667 447 3,244 Other creditors and accTu¢d expenses 1,300 4.123 1,300 15. CREDITORS: AMOUNfs FALLING DUE AFTER MORE TIIAN ONE YEAR 2024 2023 Mortgage 1.031 1,113 1,031 1,113 16. MOVEMEwf IN FUNDS Net movement in funds Transfers between fiu]ds At 1.1.2024 At 31.12.2024 Unrestricted fimds General fund Designated funds Mortgage imterest fimd Gold fund 286,042 51.658 337.700 4,438 120,417 (65) 4,373 120.417 Total designated funds 124,855 65) 124.790 Total unrestricted fimds 410,897 51,583 462,490 Restricted fimds Restrict¢d fimds J Bean¢s Infomiation technology N¢w van Training 3,107 3,107 Total restricted funds 3,107 3.107 TOTAL FUNDS 414,004 51.593 465.597 21
FURNISTORE IN EAST SURREY LtMrrED 17. MOVEMENT ll¥ FUNDS- continued Net movement in fimds. included in the above are as follows: Income Expenditure Net movement UDrestri¢ted fvnd8 General fund Dcsignated fimds Mortgage interest fund Gold fund 159.258 (107,600 51.658 (65) (65) Totsl designated funds 65) (65 Total unrcstsicted funds 159.258 (107,665 51,593 R&8tricted funds Restticted fimds J Beanes Land fill tax credits Training Inf0mtiOll te¢bnology New van 13.423 5.882 (13,423) {5.882) Total restrict fimds 19,305 19.305 TOTAL FUNDS 178,563 126.970) 51,593 22
FURNISTORK IN EAST SURREY LIMfrED 18. MOVEMENT tN FUNDS- prior year's figures Net movement in fimd& inclu(kd in the above are as follows." Income Expenditure Net movement Unrestricted fimds Genetal fund tksignated funds Mortgage interest fund Gold fimd 163.088 (104.465) 58.623 (229) (229) Totsl dcsignat¢d fimds 163.088 104.694) 58.394 Total unrestricted fimds Restricted ndS Rcstricted funds J B¢anes Land fill t&x crlts Training Infom]ation technology New van 12.002 5.017 (12,002) (5,017) (3.855) (3.855) Totsl restricknl funds 17,019 (20,874) 3,855 TOTAL FUNDS 180,107 (125.569 54.539 19. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 3 1st December 2024. apart from donations made by the trustees amounttng to £780.