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← Doncaster Refurnish

2024-09-30-accounts

REGISTERED COMPANY NUMBER: 04905282 (England and Wales) REGISTERED CHARITY NUMBER: 1118160

Doncaster Re-Furnish Limited

Financial Statements For The Year Ended 30 September 2024

Kingswood Allotts Limited, Statutory Auditor Chartered Accountants Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU

Doncaster Re-Furnish Limited

Contents of the Financial Statements For The Year Ended 30 September 2024

Page
Report of the Trustees 1 to 7
Report of the Independent Auditors 8 to 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 23

Doncaster Re-Furnish Limited

Report of the Trustees

For The Year Ended 30 September 2024

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 30 September 2024. 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principle aims of the charity are to create public benefit through providing affordable furniture to local people whilst delivering a combination of social, environmental and economic objectives. Furniture and domestic appliances are sourced through collections of unwanted furniture on a contractual basis with the Local Authority. National retailers also donate products to the charity that would otherwise have been destined for landfill. In the process of doing so it provides work and training opportunities for the long term unemployed and those severely disadvantaged in the labour market. The organisation was designed to respond to local, regional, national and European legislative drivers in the areas of recycling, regeneration and enterprise development.

Our Story

The life of Refurnish began on 8th January 2003. Born out of five thriving community groups central to furniture production and delivery in Doncaster, Refurnish recognised the opportunity to divert the increasing amounts of goods sent to landfill sites into the successful environmentally friendly project you now see. We do not see 'waste', we see an opportunity to reuse and recycle, and create high quality goods to sell to the local community at low costs. And at the heart of it: People!

Refurnish: Affordable, Sustainable, and Community-Driven

At Refurnish, we are committed to transforming homes, protecting the environment, and supporting our local community. Working alongside retailers, public sector agencies, and local people, we provide high-quality new, used, and remanufactured furniture and household goods at truly affordable prices-making sustainable living accessible to everyone.

We recognize that furnishing a home can be a significant expense, which is why we focus on reuse, recycling, and remanufacturing to offer cost-effective, high-quality alternatives. By collecting unwanted furniture from homes, businesses, and retailers, we prevent valuable items from going to waste. Instead, our skilled team restores and upcycles these goods, giving them a second life and reducing carbon emissions associated with landfill waste and new production. We also sell end-of-line retail furniture at a fraction of high-street prices, making stylish and durable furnishings affordable for all.

Beyond affordability and sustainability, our work delivers real community impact. This year alone, we have made 30,132 retail sales enabling people to access essential household items while significantly reducing waste. By diverting furniture from landfill, we actively contribute to carbon savings, promoting an environmentally friendly circular economy. Our educational initiatives further this mission by engaging schools and young people, inspiring the next generation to embrace recycling and sustainability.

Refurnish isn't just about furniture-it's about creating opportunities. We provide vital training, employment, and volunteering placements, particularly for those facing barriers to work. With 98% of our workforce from the local area, many of whom were previously long-term unemployed, we equip individuals with transferable skills and formal qualifications, paving the way for brighter futures.

At its core, Refurnish is about more than just selling furniture. We are problem-solvers, sustainability champions, and community builders-working every day to create a fairer, greener, and more inclusive society.

Page 1

Doncaster Re-Furnish Limited

Report of the Trustees

For The Year Ended 30 September 2024

STRATEGIC REPORT Achievement and performance Charitable activities Public Benefit - Achievements and Performance

This year we have been focussing a lot on consolidation, maintaining our position and increasing resilience.

Public Benefit - Achievements and Performance

----- Start of picture text -----
11,336 Households received bulky waste collections
30,132 Sales of affordable furniture and household goods to low income individuals and families
61 People undertaking training work placements
5 SEN People undertaking training work placements
22 People volunteering within Refurnish
6 Young Offenders engaged in training work placements
61 Students/school children engaged in educational activities
120 Children and their families engaged through the Spirit of Christmas event
36 People supported through our Changing Inside And Out project
38 3rd Sector Community Organisations supported
----- End of picture text -----

Refurnish works with a mix of providers to meet its charitable aims and objectives. 53.5 % of which are 3rd sector organisations, 18.3% are Public sector organisations and 28.2% are Private sector organisations.

Partner Agencies Engagement Themes in relation to the charitable aims and objectives of Refurnish.

%
9		 Themes
Children
14 Community
7.6 Disability
14.3 Education
9.2 Environment
2.8 Faith
9.5 Health
4.8 Housing
7.8 Poverty
7.6 Unemployment
13.4 Wellbeing

How Doncaster Refurnish Provides Public Benefit

We use the medium of taking unwanted materials and we create an environment for demotivated or uninspired people to grow and excel. We do this by helping them to realise their potential, encouraging their creativity and enabling them to test out their ideas, calculate and take risks in a supportive environment.

Furniture Collection

Doncaster Refurnish collects unwanted furniture and domestic appliances from households throughout the Metropolitan Borough of Doncaster. This is a free service to those donating items that can be reused. This service maximises resources for the benefit of low income families whilst diverting products from landfill and reducing the cost on the public purse.

Furniture Remanufacture

Doncaster Refurnish works in partnership with national retailers to divert waste from landfill through the remanufacture of damaged furniture.

Expressions Furniture Upcycling

We upcycle items that have been rescued from our own internal waste stream. Upcycling is the process of converting old or discarded materials into something useful and often beautiful.

In addition we use our resources to provide craft workshops for vulnerable young people.

We also receive commissions from the general public and businesses to reupholster their own products.

Page 2

Doncaster Re-Furnish Limited

Report of the Trustees

For The Year Ended 30 September 2024

Refurnish Reuse

This is a partnership project with a private waste management company and three local authorities of Doncaster, Rotherham and Barnsley to divert reusable products from Household Waste Recycling Centres. Products are sifted, sorted, graded and retailed to traders and the general public.

Shops

People who are in receipt of low income and struggling to afford household items to set up home have access to two shops in the Doncaster area; Carcroft and Dunscroft and can access products through Facebook.

Handyman Services

The Handyman Service was set up to bring together existing services to provide a one-stop shop that will result in a more coordinated and customer focused approach to support people to live independently. The service has been developed in partnership with Doncaster Council's Trading Standards and has been supported by Sunderland Community Furniture Services who provided their best practice model.

Most people want to stay in their own homes as they get older and Doncaster Refurnish through the Handyman Service aims to help people do just that. The aim of Handyman Service is to "enable those in need of support to maintain their independence in their chosen home for the foreseeable future. This will be achieved by supporting people throughout the repair, adaptation or improvement process, so that individuals are able to remain in their own home in a warm, safe and secure environment". We provide a whole range of services across all disciplines.

Volunteer Programme

Refurnish offers volunteering and work placement opportunities to people facing long-term unemployment and those serving probation orders. The aim of the programme is to support local people in gaining the skills, qualifications and confidence to become active participants in society.

Spirit of Christmas

The Spirit of Christmas is now a charity in its own right. Refurnish supports the charity to run Christmas parties for children in need. This year we worked with Doncaster Council's Children's Starting Well Service, Food Aware, The Ridge Employability College, North Doncaster Development Trust and ReRead. The event catered for up to 120 children.

Changing Inside And Out (CIAO)

Refurnish has established the CIAO project as an internal support programme for staff and volunteers to provide support, personal development and empowerment. We offer a range of services and training to suit all needs using internal and external therapists. The aim is to build and foster resilience within the organisation and then share our work with the wider community.

Widening Participation And Community Capacity Building

Refurnish works in partnership with Doncaster Council, Public Health and other third sector organisations to support the development of local infrastructure projects / initiatives. This helps statutory and private sector bodies to work in meaningful partnership with the local third sector to deliver shared outcomes for Doncaster.

The CEO serves as an elected Voluntary Community Sector Representative to Team Doncaster for the theme: Making Doncaster a great place to live and do business.

Financial review

Financial position

The charity works closely with its external accountants to achieve thorough financial planning. In order to achieve the vision of delivering much needed services to the local community in the long term, Doncaster Refurnish has adopted a policy of regular financial reviews. Two year financial projections are available to assist Trustees and the CEO to plan for the future and define the fundraising strategy. Budget reports are normally produced monthly that give a comparison between projected income and actual. This practice keeps the management abreast of the current financial situation and corrective action is taken if income differs significantly from projected levels.

The charity endeavours to adopt the principles of full cost recovery (securing funding for, or "recovering", all costs, including the direct costs of projects and all overheads) when delivering services and applying for grants.

Income from charitable activities amounted to £1,640,179 (2023: £1,803,032. Other income, including income from donations and other incoming resources, was £78,871 (2023: £87,679) giving total income for the year of £1,719,050 (2023: £1,890,711).

Total expenditure for the year was £1,771,749 (2023: £1,784,361) giving net expenditure of £52,699 (2023: net income of £106,350).

Principal funding sources

The charity's income is derived from a combination of contracts, the sale of goods, delivery of services and grant giving bodies.

Page 3

Doncaster Re-Furnish Limited

Report of the Trustees For The Year Ended 30 September 2024

STRATEGIC REPORT Financial review

Investment policy and objectives

Under the Memorandum and Articles of Association the trustees have the following powers:

- To deposit or invest funds in any manner (but to invest only after obtaining advice from a financial expert and having regard to the suitability of investments and the need for diversification)

- To delegate the management of investments to a financial expert under agreed terms and conditions.

Reserves policy

The funds carried forward are £673,195 (2023: £725,894) of which £8,902 (2023: £288) are restricted funds and £664,293 (2023: £725,606) are unrestricted funds. The free reserves (unrestricted funds less fixed assets) are £602,548.

Due to the economic climate and uncertainty for the economic outlook of the Country as a whole, the Management Committee has established a policy whereby the unrestricted reserves held by the charity should meet 6 months of expenditure requirements of core service contract costs. Total forecast expenditure for 2025 £1,798,000 is with expenditure for delivery of core service contracts forecast at £305,000

Therefore between £100,000 and £200,000 will remain in reserve to cover our contractual obligations.

Future plans

This year has been another year of consolidation. The charity aims to continue to deliver its core services in relation to furniture re-use and recycling, training and the volunteer programme. Our strategic plan includes the following developments for 2024/25:

-To further expand our CIAO project to support the wider community.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on the 19th September 2003 and became a registered charity on 28th February 2007. The company was established under a Memorandum of Association and is governed under the Articles of Association.

Page 4

Doncaster Re-Furnish Limited

Report of the Trustees

For The Year Ended 30 September 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the management committee.

The management committee seeks to ensure diversity of experience and skills are maintained on the trustee body that reflect the aims and objectives of the charity.

The Charity Trustees Are:

Bob Fitzharris - Archdeacon Emeritus (Deceased 20.08.24) David Middlemass Glen Barry Barnes - Retired 05.02.24 Eva Hughes James McLaughlin Mick Bailey - Appointed 30.11.23 Greame Oxby - Appointed 30.11.23 Glynn Jones - Appointed 30.11.23

Organisational structure

The management committee consists of 7 people who bring with them a depth of experience and knowledge. The governing document states that trustees should be over the age of 18 years. The board meets bi-monthly to make strategic decisions and to provide governance in line with charity law. During committee meetings, management and financial reports are presented by the Chief Executive Officer.

The Chief Executive has delegated authority to provide overall day to day management of the charity and is assisted by a Management Team.

Induction and training of new trustees

New charity trustees are invited to an induction meeting with a serving trustee and the Chief Executive Officer to:

All trustees are provided with guidance packs produced by the Charity Commission. Additional training is offered to enable trustees to fulfil their legal obligations to the charity.

Key management remuneration

The charity attempts to pay comparative wages and salaries with those businesses in our community and industry sectors. Wages and salaries are classified by position based on experience, responsibility, and physical and mental demands. The charity reviews salary ranges once per year and makes any adjustment deemed necessary.

Related parties

The charity is not affiliated to any other organisation and has no subsidiaries. Our key stakeholder is Doncaster Metropolitan Borough Council who has a service level agreement with Doncaster Refurnish to collect all unwanted (reusable) bulky household waste items from Doncaster households. Local agencies contact the organisation to source affordable goods for their clients.

Doncaster Refurnish is also a member of the Reuse Network, a national umbrella body that advises on good practice, publishes national standards to guide organisations, gives accreditation to those who provide evidence of working to national standards (DRF achieved accreditation in December 2007), organises the national conference and works with statutory bodies and the private sector to promote reuse regionally, nationally and in Europe.

The charity is accredited by the Reuse Network for Quality Management Systems and is a Mindful Employer.

Page 5

Doncaster Re-Furnish Limited

Report of the Trustees

For The Year Ended 30 September 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The trustees have a risk management strategy that is reviewed annually and includes:

Authorised and Approved Reuse Treatment Facility. Management Review meetings occur every six months to assess the organisations performance against quality, health & safety and environmental targets.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

04905282 (England and Wales)

Registered Charity number

1118160

Registered office

Unit 15 Hutton Business Park Hangthwaite Road Carcroft Doncaster South Yorkshire DN6 7BD

Trustees

G B Barnes (resigned 5.2.2024) R A Fitzharris Archdeacon Emeritus (resigned 20.8.2024) E Hughes D J Middlemass J J McLaughlin G A Jones (appointed 30.11.2023) M Bailey (appointed 30.11.2023) G R Oxby (appointed 30.11.2023)

Company Secretary

Company Creations and Controls Ltd

Auditors

Kingswood Allotts Limited, Statutory Auditor Chartered Accountants Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU

Bankers

Co-operative Bank 31 St Sepulchre Gate Doncaster South Yorkshire DN1 1TD

Chief Executive

A Simpson

Page 6

Doncaster Re-Furnish Limited

Report of the Trustees

For The Year Ended 30 September 2024

IN CONCLUSION....

It's been another very busy year. Challenging yet rewarding. We have rebuilt the organisation to pre covid size and have lots of opportunity to pursue but there are lots of challenges yet to overcome. We are expecting a 10-12% increase in demand on our services and we are facing significant financial challenges due to increases in employer National Insurance contributions (NICs) and the National Living Wage. These changes, effective from April 2025, will intensify existing pressures on the sector, which is already grappling with rising demand, escalating costs, and declining funding.

In response to these challenges, over 7,300 charities and voluntary organizations co-signed an open letter to the Chancellor, urging for exemptions or reimbursements for the increased NIC costs. The Chancellor acknowledged the sector's vital role but reiterated the necessity of the tax changes, offering no exemptions for charities.

The Charity Finance Group (CFG) conducted a survey revealing that 84% of charities are deeply concerned about affording the rise in NICs. Many are contemplating staff reductions, canceling expansion plans, or cutting services to manage the financial strain.

Andy Simpson CEO

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Doncaster Re-Furnish Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the 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 and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping 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.

In so far as the trustees are aware:

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:

...................................................................................................

J J McLaughlin - Trustee

Page 7

Report of the Independent Auditors to the Trustees of Doncaster Re-Furnish Limited

Opinion

We have audited the financial statements of Doncaster Re-Furnish Limited (the 'charitable company') for the year ended 30 September 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 8

Report of the Independent Auditors to the Trustees of Doncaster Re-Furnish Limited

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

for and on behalf of Kingswood Allotts Limited, Statutory Auditor Chartered Accountants Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU

Date: .............................................

Page 9

Doncaster Re-Furnish Limited

Statement of Financial Activities

(Incorporating an Income and Expenditure Account) For The Year Ended 30 September 2024

Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
68,375
10,000
Charitable activities
5
Retail
1,640,179
-
Investment income
4
496
-
Total
1,709,050
10,000
EXPENDITURE ON
Charitable activities
6
Grant funding activities
-
1,386
Retail
1,770,363
-
Total
1,770,363
1,386
NET INCOME/(EXPENDITURE)
(61,313)
8,614
RECONCILIATION OF FUNDS
Total funds brought forward
725,606
288
TOTAL FUNDS CARRIED FORWARD
664,293
8,902		 2024
Total
funds
£
78,375
1,640,179
496
1,719,050
1,386
1,770,363
1,771,749
(52,699)
725,894
673,195		 2023
Total
funds
£
87,496
1,803,032
183
1,890,711
54,112
1,730,249
1,784,361
106,350
619,544
725,894

The notes form part of these financial statements

Page 10

Doncaster Re-Furnish Limited (Registered number: 04905282)

Balance Sheet

30 September 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 12 64,907 78,711
CURRENT ASSETS
Stocks 13 17,619 14,809
Debtors 14 144,089 123,728
Cash at bank and in hand 537,731 598,997
CREDITORS 699,439 737,534
Amounts falling due within one year 15 (91,151) (90,351)
NET CURRENT ASSETS 608,288 647,183
TOTAL ASSETS LESS CURRENT LIABILITIES 673,195 725,894
NET ASSETS 673,195 725,894
FUNDS 19
Unrestricted funds:
General Fund 664,293 725,606
Restricted funds 8,902 288
TOTAL FUNDS 673,195 725,894

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

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 audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. J J McLaughlin - Trustee

The notes form part of these financial statements

Page 11

Doncaster Re-Furnish Limited

Cash Flow Statement

For The Year Ended 30 September 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Social Investment loan issued
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in the reporting
period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the reporting
period		 2024
£
(25,759)
(182)
(25,941)
(27,021)
-
496
(6,000)
(32,525)
-
(2,800)
(2,800)
(61,266)
598,997
537,731		 2023
£
118,954
(546)
118,408
(3,162)
250
183
-
(2,729)
11,200
(8,400)
2,800
118,479
480,518
598,997

The notes form part of these financial statements

Page 12

Doncaster Re-Furnish Limited

Notes to the Cash Flow Statement

For The Year Ended 30 September 2024

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities)
Adjustments for:
Depreciation charges
Profit on disposal of fixed assets
Interest received
Interest paid
Increase in stocks
Increase in debtors
Increase/(decrease) in creditors
Net cash (used in)/provided by operations		 2024
£
(52,699)
40,824
-
(496)
182
(2,810)
(14,361)
3,601
(25,759)		 2023
£
106,350
39,069
(250)
(183)
546
(1,671)
(10,371)
(14,536)
118,954

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.10.23
Cash flow
£
£		 At 30.9.24
£
Cash at bank and in hand 598,997
(61,266)		 537,731
598,997
(61,266)		 537,731
Debt
Debts falling due within 1 year (2,800)
2,800		 -
(2,800)
2,800		 -
Total 596,197
(58,466)		 537,731

The notes form part of these financial statements

Page 13

Doncaster Re-Furnish Limited

Notes to the Financial Statements

For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Doncaster Re-Furnish Limited is a charitable company, limited by guarantee, registered in England and Wales. The company's registered number and registered office can be found in the Report of the Trustees.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about its ability to continue as a going concern.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

There were no critical accounting estimates or assumptions this year that are deemed to be material in nature to the financial statements.

Income

All incoming resources are included on the Statement of Financial Activities when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within charitable activities when they are sold, as it is considered that their market value as second hand or damaged goods cannot be ascertained with reliable estimates, given the alternative uses, when donations are made.Consequently no adjustment is made for the stock of donated goods.

Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

Income from investments is included in the year in which it is receivable.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows:

Plant and machinery

Page 14

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets and depreciation Fixtures, fittings and equipment - 25% to 33% straight line Motor vehicles - 25% straight line

Stocks

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

Taxation

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

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes.

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. The costs of raising and administering such funds are charged against the specific fund. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Liabilities

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Financial instruments

The charity only holds basic financial instruments as defined by FRS102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Social Investments- Debt Instrument measured at amortised cost. At the end of each reporting period, the charity shall assess whether there is objective evidence of impairment of any financial assets. Any impairments of financial assets are recognised in the Statement of Financial Activities.

Cash at bank - is classified as a basic financial instrument and is measured at face value.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayment are valued at the amount prepaid net of any trade discounts etc.

Page 15

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued For The Year Ended 30 September 2024

3. DONATIONS AND LEGACIES

Grants
Donations
Grants received, included in the above, are as follows:
South Yorkshire Key Fund
Well Doncaster Public Health DMBC
Community Resource Bank
4.
INVESTMENT INCOME
Bank interest receivable
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Sale of goods and services
Retail
6.
CHARITABLE ACTIVITIES COSTS
Grant funding activities
Retail		 2024
2023
£
£
10,000
29,400
68,375
58,096
78,375
87,496
2024
2023
£
£
-
4,400
-
25,000
10,000
-
10,000
29,400
2024
2023
£
£
496
183
2024
2023
£
£
1,640,179
1,803,032
Support
costs (see
note 7)
£
1,386
1,770,363
1,771,749

Page 16

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued For The Year Ended 30 September 2024

7. SUPPORT COSTS

Grant funding activities
Retail
Support costs, included in the above, are as follows:
Management
Wages and salaries
Social security
Pensions
Rent
Rates and water
Insurance
Light and heat
Telephone
Printing, postage and stationery
Advertising
Sundries
Repairs and maintenance
Motor vehicle expenses
Hire of equipment
Travelling expenses
Staff training and welfare
Work wear
Bank charges
Subscriptions
General expenses
Opening stock
Purchases
Closing stock
Other costs
Depreciation
Profit on sale of tangible fixed assets
Interest payable		 Governance
Management
costs
£
£
1,386
-
1,739,125
31,238
1,740,511
31,238
2024
Grant
funding
Total
activities
Retail
activities
£
£
£
288
1,023,787
1,024,075
-
71,298
71,298
-
25,368
25,368
-
125,887
125,887
-
14,119
14,119
-
17,010
17,010
-
33,856
33,856
-
12,697
12,697
-
3,019
3,019
-
115
115
-
-
-
-
11,808
11,808
-
49,527
49,527
-
19,446
19,446
-
14,805
14,805
-
598
598
-
5,879
5,879
-
15,779
15,779
-
8,812
8,812
730
1,443
2,173
-
14,809
14,809
-
233,153
233,153
-
(17,619)
(17,619)
-
12,891
12,891
368
40,456
40,824
-
-
-
-
182
182
1,386
1,739,125
1,740,511		 Totals
£
1,386
1,770,363
1,771,749
2023
Total
activities
£
948,895
61,487
23,393
121,417
18,272
15,044
41,100
9,831
5,388
-
590
23,989
56,552
20,975
12,279
3,348
3,054
13,962
6,515
1,004
13,138
311,236
(14,809)
15,623
39,070
(250)
546
1,751,649

Page 17

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued For The Year Ended 30 September 2024

7. SUPPORT COSTS - continued Governance costs

SUPPORT COSTS - continued
Governance costs
2024 2023
Total
Retail activities
£ £
Auditors' remuneration 7,450 7,000
Accountancy and legal fees 23,788 25,712
31,238 32,712
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration 2024
£
7,450		 2023
£
7,000
Depreciation - owned assets 40,825 39,069
Other operating leases 125,887 121,417
Surplus on disposal of fixed assets - (250)

8. NET INCOME/(EXPENDITURE)

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2024 nor the year ended 30 September 2023.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Chief executive
Managers
Sales and delivery
Administration and support
Production and appliance operatives
Technicians		 2024
£
1,024,075
71,298
25,368
1,120,741
2024
1
9
16
4
19
4
53		 2023
£
948,895
61,487
23,393
1,033,775
2023
1
9
14
3
19
4
50

No employees received emoluments in excess of £60,000.

Total remuneration paid to key management personnel was £302,528 (2023: 318,072).

Page 18

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued For The Year Ended 30 September 2024

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
58,096
29,400
Charitable activities
Retail
1,803,032
-
Investment income
183
-
Total
1,861,311
29,400
EXPENDITURE ON
Charitable activities
Grant funding activities
-
54,112
Retail
1,726,327
3,922
Total
1,726,327
58,034
NET INCOME/(EXPENDITURE)
134,984
(28,634)
RECONCILIATION OF FUNDS
Total funds brought forward
590,622
28,922
TOTAL FUNDS CARRIED FORWARD
725,606
288
TANGIBLE FIXED ASSETS
Fixtures,
fittings
Plant and
and
Motor
machinery
equipment
vehicles
£
£
£
COST
At 1 October 2023
49,006
113,420
220,304
Additions
10,499
3,522
13,000
At 30 September 2024
59,505
116,942
233,304
DEPRECIATION
At 1 October 2023
46,370
107,930
149,719
Charge for year
2,872
2,399
35,554
At 30 September 2024
49,242
110,329
185,273
NET BOOK VALUE
At 30 September 2024
10,263
6,613
48,031
At 30 September 2023
2,636
5,490
70,585		 Total
funds
£
87,496
1,803,032
183
1,890,711
54,112
1,730,249
1,784,361
106,350
619,544
725,894
Totals
£
382,730
27,021
409,751
304,019
40,825
344,844
64,907
78,711

12. TANGIBLE FIXED ASSETS

Page 19

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued For The Year Ended 30 September 2024

13. STOCKS

14.

Stocks
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Social Investment
Prepayments and accrued income		 2024
£
17,619
2024
£
109,888
3,786
6,000
24,415
144,089		 2023
£
14,809
2023
£
79,023
6,013
-
38,692
123,728

Social Investments include a concessionary loan arrangement. The loan is to be repaid in monthly installments and no interest is payable.

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

16.

Other loans (see note 16)
Trade creditors
Other taxes and social security
Accruals and deferred income
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Key Fund loan		 2024
£
-
46,523
24,360
20,268
91,151
2024
£
-		 2023
£
2,800
34,792
14,768
37,991
90,351
2023
£
2,800

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2024
£
31,628
-
31,628		 2023
£
46,627
1,628
48,255

Page 20

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued For The Year Ended 30 September 2024

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed assets
Current assets
Current liabilities
Long term liabilities		 Unrestricted Fund
£
61,745
693,699
(91,151)
-
664,293		 Restricted Fund
£
3,162
5,740
-
-
8,902		 2024
Total Funds
£
64,907
699,439
(91,151)
-
673,195		 2023
Total Funds
£
78,711
737,534
(90,351)
-
725,894
At 30 September 2023, £288 of the current assets related to restricted funds.
MOVEMENT IN FUNDS
Unrestricted funds
General Fund
Restricted funds
Well Doncaster Public Health DMBC
DMBC- Community Resource Bank
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General Fund
Restricted funds
Well Doncaster Public Health DMBC
DMBC- Community Resource Bank
TOTAL FUNDS		 Net
At
movement
At
1.10.23
in funds
30.9.24
£
£
£
725,606
(61,313)
664,293
288
(288)
-
-
8,902
8,902
288
8,614
8,902
725,894
(52,699)
673,195
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
1,709,050
(1,770,363)
(61,313)
-
(288)
(288)
10,000
(1,098)
8,902
10,000
(1,386)
8,614
1,719,050
(1,771,749)
(52,699)

19. MOVEMENT IN FUNDS

Page 21

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued For The Year Ended 30 September 2024

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
At
movement		 At
1.10.22
in funds		 30.9.23
£ £ £
Unrestricted funds
General Fund 590,622 134,984 725,606
Restricted funds
DMBC - Renourishing Food Banks 3,922 (3,922) -
Well Doncaster Public Health DMBC 25,000 (24,712) 288
28,922 (28,634) 288
TOTAL FUNDS 619,544 106,350 725,894
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds Incoming
Resources
resources
expended
£
£		 Movement
in funds
£
General Fund 1,861,311
(1,726,327)		 134,984
Restricted funds
DMBC - Renourishing Food Banks - (3,922) (3,922)
Well Doncaster Public Health DMBC 25,000 (49,712) (24,712)
Keyfund- Lighting 4,400 (4,400) -
29,400 (58,034) (28,634)
TOTAL FUNDS 1,890,711
(1,784,361)		 106,350

Purposes of restricted funds

DMBC - Renourishing Food Banks

Funding to establish a food project during Covid-19.

Well Doncaster Public Health DMBC

To recruit and create paid employment for five young people and provide a one year intensive training and development programme.

Keyfund- Lighting

Funding for work carried out to install LED lighting, to reduce electricity usage and emissions.

DMBC- Community Resource Bank

Funding to establish a Community Resource bank, to operate like a library but with tools and resources as well as books. To maximise community benefit of resources available for use.

Page 22

continued...

Doncaster Re-Furnish Limited

Notes to the Financial Statements - continued

For The Year Ended 30 September 2024

20. RELATED PARTY DISCLOSURES

During the year a £6,000 loan was issued to Re-Read Ltd, a company in which J McLaughlin is an employee and G Oxby is a trustee. The full amount was outstanding at year end and the loan was repayable without interest.

Doncaster Re-Furnish Limited also provided services in the form of van hire to Spirit of Christmas totalling £333, a charity in which the trustees hold an interest. There was no outstanding balance at year end.

In 2023, there were no related party transactions.

Page 23

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