Charity Registra�on No. 1118353
Company Registra�on No. 05541653 (England and Wales)
GLOSSOPDALE FURNITURE PROJECT
TRUSTEES’ REPORT
AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
GLOSSOPDALE FURNITURE PROJECT
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Project Manager
Charity number
Company number Registered office
Telephone number
Email address Web address
Independent examiner
Bankers
Julia Brunt - Treasurer Janice Crompton Angela Dale Barry Doyle Janet Lee Stella Quinn – Chair Ian Roberts
Leigh Higginbo�om
1118353 05541653 Pikes Lane Derbyshire SK13 8EH 01457 857505
mail@glossopdalefurniture.co.uk www.glossopdalefurniture.co.uk
Mar�n C Galvin FCA Chartered accountant 27A Hague Street Glossop Derbyshire SK13 8NR
HSBC Great Underwood Stockport Cheshire SK1 1LH
GLOSSOPDALE FURNITURE PROJECT
CONTENTS
| Page | |
|---|---|
| Trustees’ report | 1 – 4 |
| Independent accountants’ report | 5 |
| Statement of fnancial ac�vi�es | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8-14 |
GLOSSOPDALE FURNITURE PROJECT TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their report and accounts for the year ended 31 March 2024.
The accounts have been prepared in accordance with accoun�ng policies set out in note 1 to the accounts and comply with the charity’s Memorandum and Ar�cles of Associa�on dated 12[th] August 2005, the Companies Act 2006 and the Chari�es Act.
Structure, Governance and Management
The charity is a company limited by guarantee. The trustees are directors of the company for the purposes of the Companies Act. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per trustee of the charity.
Julia Brunt - Treasurer Janice Crompton Angela Dale Barry Doyle Janet Lee Stella Quinn – Chair Ian Roberts
Recruitment and appointment of Trustees
invited to join the Board. The experience and skills of the Trustees are monitored to ensure the Board has the competence to support the Organisa�on successfully.
Appointment of Trustees
The Ar�cles of Associa�on states that trustees shall be no fewer than three, with no maximum number.
Trustees can be appointed by ordinary resolu�on of a general mee�ng, or by the board at any �me, subject to the condi�ons outlined in the Ar�cles of Associa�on.
One third of trustees shall re�re annually by rota�on.
Addi�onal commi�ee members with suitable knowledge or exper�se may be co-opted by the trustees.
Structure, Governance and Management
The requirements, du�es and responsibili�es are listed in the Ar�cles of Associa�on.
Cons�tu�on and Objects
The charity is a charitable company limited by guarantee on 19[th] August 2005 and registered with the Charity Commission on 13 March 2007.
The objects of the charity are
distress in the geographical area known as High Peak, i.e. the valley and surrounding area in which the town of Glossop is situated, together with Hadfield, Padfield, Charlesworth and Tintwistle. Also, the areas surrounding New Mills and Buxton, all within the Borough of High Peak in the County of Derbyshire, by the provision of furniture and household accessories.
1
GLOSSOPDALE FURNITURE PROJECT
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
These are outlined further in this report. Our services are available to any member of the public
who needs informa�on or support with a Glossopdale Furniture Project issue. We have an equal opportuni�es policy for users, staff, and volunteers.
Main ac�vi�es
safe donated furniture at affordable prices and, where appropriate, at no cost to those homeless or in extreme hardship who are referred by social organisa�ons and being helped in se�ng up a new home.
work experience who are looking for full-�me employment elsewhere, seeking to return to full-�me employment, or those who are re�red and wish to con�nue an involvement within the community.
Income con�nues to be generated from the sale of donated furniture and household items sold as seen, alongside other products made in-house from recycled wood, or upcycled and recommissioned in its two workshops through the main warehouse at Pikes Lane, Glossop and its shop on George Street, Glossop.
Addi�onal income was also received from public bodies, grants from organisa�ons and dona�ons from the general public.
conducted by the Charity.
Achieving our Objects
Over the year the Project collected 143 tonnes of furniture which, by alloca�ng it to other sources and good use, con�nued to avoid it being sent to landfill. It has been able to maintain its service of providing clean, safe furniture at affordable prices to those in need.
The call on the Project’s services con�nued to see a demand of its charitable service supplying a total of 106 furniture and household essen�als packs over the year to those who qualify through referrals or in desperate need.
The Project’s warehouse and shop were open to the general public for six days a week for the sale of goods. All income generated by the retail outlets con�nues to go towards the opera�ng costs of running the Project. This is also supplemented from the grants and dona�ons as already indicated.
The Project con�nues to provide an increasingly vital service to the public and its service users by re-using and recycling furniture, materials and other household items.
2
GLOSSOPDALE FURNITURE PROJECT
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
Financial Review
The financial posi�on of the charity at 31[st] March 2024 and compara�ves for the prior year, as more fully detailed in the accounts, can be summarised as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Net income | 50,417 | 15,485 |
| Unrestricted Revenue Funds available for the general | 169,134 | 159,834 |
| purposes of the charity | ||
| Restricted Revenue Funds | ||
| Restricted Fixed Asset Funds | 51,483 | 10,366 |
| Total Funds | 220,167 | 170,200 |
Total income from the sale of furniture and recondi�oned items was £204,950 (2023 £180,525). Income from other sources, dona�ons, grants and fundraising was £121,109 (2023 £76,149). Opera�ng expenses were £275,641 (2023 £241,189) and there was an opera�ng surplus of £50,417 (2023 £15,486).
Policy on reserves
Funds held in excess of requirements for day to day running of the charity are classed as reserves. Reserves are held to cover emergency repairs, replacement of equipment, redundancy costs, and to provide investment income for the charity. At the report date it is considered that a minimum of £50,000 should be maintained for daily running of the charity and surplus funds should be invested as reserves. At 31st March £60,893 was maintained in the bank current account and £34,220 was invested in interest earning accounts.
Statement of Trustees’ Responsibili�es
The trustees (who are also the directors of Glossopdale Furniture Project) are responsible for preparing the Trustees’ Annual Report and accounts in accordance with applicable law and United Kingdom Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce).
must not approve the accounts unless they are sa�sfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and applica�on of resources, including the income and expenditure, of the charitable company for that period. In preparing these accounts the Trustees are required to:-
-
select suitable accoun�ng policies and apply them consistently;
-
observe the methods and principles in the Chari�es SORP;
-
make judgements that are reasonable and prudent;
-
state whether UK accoun�ng standards have been followed, subject to any departures disclosed and explained in the accounts; and
-
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will con�nue in business.
the charity’s website. Legisla�on in the United Kingdom governing the prepara�on and disseminator of accounts may differ from legisla�on in other jurisdic�ons.
3
GLOSSOPDALE FURNITURE PROJECT
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
posi�on of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and for taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.
Approved by the trustees and signed on their behalf by:-
Julia Brunt
Trustee
Dated: 21[st] November 2024
4
GLOSSOPDALE FURNITURE PROJECT
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF GLOSSOPDALE FURNITURE PROJECT
I report on the accounts of the Charity for the year ended 31 March 2024 which are set out on pages 6 to 14.
Respec�ve responsibili�es of directors and examiner
The directors who also act as trustees of Glossopdale Furniture Project are responsible for the prepara�on of the accounts. The directors consider that an audit is not required for this year under Sec�on 144(2) of the Chari�es Act 2011, (the 2011 Act) and that an independent examina�on is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examina�on being a Member of the Ins�tute of Chartered Accountants in England & Wales.
examina�on it is my responsibility to:
-
(i) examine the accounts under sec�on 145 of the 2011 Act;
-
(ii) to follow the procedures laid down in the general Direc�ons given by the Charity Commission under sec�on 145(5)(b) of the 2011 Act; and
-
(iii) to state whether par�cular ma�ers have come to my a�en�on.
Basis of independent examiner’s report
My examina�on was carried out in accordance with the General Direc�ons given by the Charity Commission. An examina�on includes a review of the accoun�ng records kept by the charity and a comparison of the accounts presented with those records. It also includes considera�on of any unusual items or disclosures in the accounts and seeking explana�ons from you as trustees concerning any such ma�ers. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those ma�ers set out in the statement below.
In connec�on with my examina�on, no ma�er has come to my a�en�on:
- (i) which gives me reasonable cause to believe that in any material respect, the requirements i to keep accoun�ng records in accordance with sec�on 386 of the Companies Act 2006; and to prepare accounts which accord with the accoun�ng records, comply with the accoun�ng requirements of sec�on 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Prac�ce, Accoun�ng and repor�ng by Chari�es.
have not been met; or
- (ii) to which, in my opinion, a�en�on should be drawn to enable a proper understanding of the accounts to be reached.
Mar�n C Galvin FCA
Chartered Accountant 27A Hague Street Glossop Derbyshire SK13 8NR
Dated: 21[st] November 2024
5
GLOSSOPDALE FURNITURE PROJECT
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Notes | Unrestricted | Restricted | **Total funds ** | Prior year | |
|---|---|---|---|---|---|
| funds | income funds | funds | |||
| £ | £ | £ | £ | ||
| Income | |||||
| Donations and legacies | 2 | 12,335 | - | 12,335 | 3,005 |
| Charitable activities | 2 | 37,822 | 70,728 | 108,550 | 72,984 |
| Other trading activities | 2 | 204,950 | - | 204,950 | 180,525 |
| Investments | 2 | 224 | 224 | 161 | |
| Total Income | 255,331 | 70,728 | 326,059 | 256,675 | |
| Expenditure | |||||
| Charitable activities | 3 | 254,289 | 20,539 | 274,828 | 240,326 |
| Governance costs | 3 | 813 | 813 | 863 | |
| Total expenditure | 255,102 | 20,539 | 275,641 | 241,189 | |
| Net income for the year | 229 | 50,188 | 50,417 | 15,486 | |
| Transfers between funds | 10 | 9,071 | (9,071) | - | - |
| Net movement after transfers | 9,300 | 41,117 | 50,417 | 15,486 | |
| Total funds brought forward | 10 | 159,834 | 10,366 | 170,200 | 154,714 |
| Total funds carried forward | 10 | 169,134 | 51,483 | 220,617 | 170,200 |
under the Companies Act 2006.
6
GLOSSOPDALE FURNITURE PROJECT
BALANCE SHEET AS AT 31 MARCH 2024
| Notes | £ | £ | |||
|---|---|---|---|---|---|
| Fixed assets | |||||
| Tangible assets | 1.5, 6,7 | 193,635 | 192,781 | ||
| Current assets | |||||
| Debtors | 8 | 18,408 | 11,360 | ||
| Cash at bank and in hand | 95,113 | 58,741 | |||
| Total current assets | 113,521 | 70,101 | |||
| Creditors due within one year | 9 | (15,171) | 98,350 | (12,952) | 57,149 |
| Creditors due after more than a year 10 | (71,368) | (79,730) | |||
| Total net assets | 220,617 | 170,200 | |||
| Restricted funds | |||||
| Restricted revenue funds | 11 | 10,188 | 0 | ||
| Restricted Fixed Asset funds | 11 | 41,295 | 51,483 | 10,366 | 10,366 |
| Unrestricted funds | |||||
| Unrestricted revenue funds | 11 | 169,134 | 159,834 | ||
| 220,617 | 170,200 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the independent examiner is on page 5
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small company’s regime and in accordance with FRS102 SORP.
The accounts were approved by the trustees on 21[st] November 2024
Julia Brunt Trustee
7
GLOSSOPDALE FURNITURE PROJECT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accoun�ng policies
1.1 Basis of prepara�on
The accounts are prepared under the historical cost conven�on, unless otherwise stated.
The accounts have been prepared in accordance with the Companies Act 2006, Chari�es Act 2011, and Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Repor�ng Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
Going Concern
Our charitable ac�vi�es are dependent on con�nuing grant aid and voluntary dona�ons as well as trading revenues. As a consequence, a going concern basis is dependent on the future flow of these funding streams. During the last 12 months our fundraising efforts and trading experience have exceeded our expecta�ons and there are currently no material concerns about the ability of the charity to con�nue opera�ons. However, the trustees are mindful of their responsibility to regularly monitor income streams to ensure levels are sufficient for the charity’s requirements. Having considered future planned ac�vi�es and the reserves available to the charity, the trustees are sa�sfied that the financial statements should be prepared on the going concern basis.
1.2 Incoming resources
Dona�ons and furniture sales are accounted for when received by the charity. Other income is accounted for on an accruals basis as far as is prudent to do so.
valued at their es�mated resale prices.
Revenue grants are recognised on receipt, subject to any required condi�ons being met or services provided. Capital grants are wri�en off in line with the charity’s deprecia�on policy.
1.3 Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its ac�vi�es and
Governance costs includes those costs associated with mee�ng the cons�tu�onal and statutory requirement of the charity.
All costs are allocated between the expenditure categories on the (Statement of Financial Ac�vi�es) SOFA on a basis designed to reflect the use of the resource.
1.4
| 1.4 Tangible fxed assets and deprecia�on |
1.4 Tangible fxed assets and deprecia�on |
|---|---|
| Tangible fxed assets are stated at cost less deprecia�on. Deprecia�on is provided at rates calculated to | |
| write of the cost of each asset over its expected useful life as follows:- | |
| Warehouse | 7% straight line |
| Other buildings | 15% reducing balance |
| Motor vehicles | 20% straight line |
| Equipment | 25% reducing balance |
8
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
GLOSSOPDALE FURNITURE PROJECT
1.5 Impairment loss
A professional valua�on of 10 George Street, Glossop, dated 24 April 2024, assigned a market value of £130,000. For prior years the property has been reported at cost value of £163,354, consequently, under the Impairment provisions of FRS102, an impairment charge of £33,354 has been applied.
1.6 Pensions
and loss account as they become payable in accordance wit the rules of the scheme.
1.7 Fund Accoun�ng
Unrestricted funds are available for use at the discre�on of the trustees in furtherance of the general objec�ves of the charity.
Restricted funds are subjected to restric�ons on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
There are no endowment funds
1.8 Taxa�on
As a registered charity, the ac�vi�es are exempt from United Kingdom Income and Corpora�on taxa�on, provided that the income is applied to charitable purposes.
1.9 Winding up or dissolu�on of the charity
If upon winding up or dissolu�on of the charity there remain any assets, a�er the sa�sfac�on of all debts and liabili�es, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
2 Income from Donations and legacies
| 2024 | 2024 | 2024 | 2023 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| £ | £ | £ | £ | ||
| Donations and gifts from individuals | |||||
| Donations under £1,000 | 2,759 | - | 2,759 | 1,396 | |
| Gift Aid | 9,576 | - | 9,576 | 1,609 | |
| Total | 12,335 | - | 12,335 | 3,005 | |
| Income from Charitable activities | |||||
| 2024 | 2024 | 2024 | 2023 | ||
| Unrestricted | Restricted | Total | Total | ||
| £ | £ | £ | £ | ||
| Grants - Government & public bodies | |||||
| Derbyshire County Council | - | 19,453 | 19,453 | 33633 | |
| National Lottery | - | 10,000 | 10,000 | - | |
| Councillors Grant - D Greenhalgh | - | 1,081 | 1,081 | - | |
| High Peak Borough Council | 1,000 | - | 1,000 | 1,000 | |
| Total | 1,000 | 30,534 | 31,534 | 34,633 |
9
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
GLOSSOPDALE FURNITURE PROJECT
Income from Charitable activities (continued)
| 2024 | 2024 | 2024 | 2023 | ||
|---|---|---|---|---|---|
| Unrestricted | **Restricted ** | Total | Total | ||
| £ | £ | £ | £ | ||
| Grants – non public bodies | |||||
| Clothworkers Foundation | - | 15,000 | 15,000 | - | |
| Garfield Weston | - | 10,000 | 10,000 | - | |
| Albert Hunt Trust | - | 5,000 | 5,000 | - | |
| Bernard Sunley Foundation | - | 5,000 | 5,000 | - | |
| Inman Charity | 5,000 | - | 5,000 | - | |
| P3 Charity | - | 2,500 | 2,500 | 2,500 | |
| Foundation Derbyshire | - | 1,893 | 1,893 | - | |
| Richardson Bros | 1,500 | - | 1,500 | - | |
| Benefact Group | 1,000 | - | 1,000 | - | |
| Bingham Trust | 1,000 | - | 1,000 | - | |
| Hedley Foundation | 1,000 | - | 1,000 | - | |
| Rotary Club | - | - | 2,000 | ||
| Tesco | - | - | 1,000 | ||
| Grants under £1,000 | 1,914 | 800 | 2,714 | 1,125 | |
| Total | 11,414 | 40,193 | 51,607 | 6,625 | |
| Other Income | |||||
| Recycling credits | 9,427 | - | 9,427 | 7,815 | |
| Value of goods donated to beneficiaries | 16,726 | - | 16,726 | 23,911 | |
| Sundry income | (744) | - | (744) | - | |
| 25,409 | 25,409 | 31,726 | |||
| Total income from Charitable activities | 37,822 | 70,728 | 108,550 | 72,984 | |
| Income from other trading activities | 2024 | 2024 | 2024 | 2023 | |
| Unrestricted | Restricted | Total | Total | ||
| £ | £ | £ | £ | ||
| Sales of goods from Pikes Lane | 158,124 | - | 158124 | 139894 | |
| Sales of goods from George Street | 46,826 | - | 46,826 | 40631 | |
| 204,950 | - | 204,950 | 180,525 | ||
| Investment Income | 2024 | 2024 | 2024 | 2023 | |
| Unrestricted | Restricted | Total | Total | ||
| £ | £ | £ | £ | ||
| Bank interest received | 224 | - | 224 | 161 | |
| Total income of charity | 255,331 | 70,728 | 326,059 | 256,675 |
10
GLOSSOPDALE FURNITURE PROJECT
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
| 2024 |
2024 | 2024 | 2023 | |
|---|---|---|---|---|
| Unrestricted | **Restricted ** | Total | Total | |
| 3. Expenses - Charitable activities | £ | £ | £ | £ |
| Staff costs | ||||
| Wages and salaries | 154,371 | 6,785 | 161,156 | 167,695 |
| Pensions | 10,780 | - | 10,780 | 6,789 |
| HR services | 3,041 | - | 3,041 | 2,096 |
| Payroll administration fees | 360 | - | 360 | 360 |
| Staff training, welfare and travel | 3,162 | - | 3,162 | 805 |
| Motor expenses | 4,271 | 3,093 | 7,364 | 5,713 |
| Premises Costs | ||||
| Rent | 4,575 | - | 4,575 | 3,700 |
| Rates and water | 826 | - | 826 | 3,096 |
| Light and heat | 3,623 | - | 3,623 | 1,684 |
| Insurance | 3,888 | - | 3,888 | 3,523 |
| Cleaning | 588 | - | 588 | 380 |
| Impairment charge (Note 1.5) | 33,354 | - | 33,354 | - |
| General Administrative expenses | ||||
| Telephone and internet | 1,104 | - | 1,104 | 1,077 |
| Stationery and printing | 509 | - | 509 | 662 |
| Packing materials | 1,320 | |||
| Volunteer expenses | 790 | - | 790 | 285 |
| Payment processing charges | 2,442 | - | 2,442 | 2,025 |
| Subscriptions | 120 | 1,320 | 1,440 | 1,320 |
| Starter pack | 998 | - | 998 | 0 |
| Value of goods donated to beneficiaries | 9,226 | 7,500 | 16,726 | 23,911 |
| Workshop costs | 2,562 | - | 2,562 | 1,182 |
| Repairs and maintenance | 3,034 | 1,841 | 4,875 | 1,893 |
| Depreciation | 12,220 | - | 12,220 | 3,990 |
| Profit on sale of van | -8,000 | - | -8,000 | 0 |
| Sundry expenses | 110 | - | 110 | 325 |
| Advertising | 964 | - | 964 | 700 |
| Finance costs | ||||
| Loan interest paid | 5,372 | - | 5,372 | 5,795 |
| Expenditure on Charitable activities | 254,289 | 20,539 | 274,828 | 240,326 |
| Governance costs | ||||
| Independent examiner fee | 813 | - | 813 | 863 |
| Total expenses | £255,102 | £20,539 | £275,641 | £241,189 |
| Net income for the year | £229 | £50,189 | £50,418 | £15,486 |
11
GLOSSOPDALE FURNITURE PROJECT
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
4 Trustees
None of the trustees (or any persons connected with them) received any remunera�on or was paid expenses in the year (2023: None).
statements.
5 Employees
Number of employees
The average monthly number of employees during the year was: -
| 2024 | 2023 | |
|---|---|---|
| Staf | 8 | 8 |
| Employment costs | £ | £ |
2024 |
2023 | |
| Wages and salaries | 161,156 | 167,695 |
| Pension costs | 10,780 | 6,789 |
| 171,936 | 174,484 |
There were no employees whose annual emoluments were £60,000 or more.
6 Tangible Fixed Assets
| 6 Tangible Fixed Assets |
||||
|---|---|---|---|---|
| Land & | Plant & | Motor | Total | |
| buildings | equipment | vehicles | ||
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 April 2023 | 225,871 | 1,555 | 29,862 | 257,288 |
| Additions | 46,428 | 46,428 | ||
| Disposals | (2,000) | (29,862) | (31,862) | |
| At 31 March 2024 | 223,871 | 1,555 | 46,428 | 271,854 |
| Depreciation | ||||
| At 1 April 2023 | 33,343 | 1,302 | 29,862 | 64,507 |
| Impairment charge | 33,354 | 33,354 | ||
| Charge in year | 2,768 | 167 | 9,285 | 12,220 |
| Disposals | (2,000) | (29,862) | (31,862) | |
| At 31 March 2024 | 67,465 | 1,469 | 9,285 | 78,219 |
| Net book value | ||||
| At 31 March 2024 | 156,406 | 86 | 37,143 | 193,635 |
| At 31 March 2023 | 192,528 | 253 | - | 192,781 |
12
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
GLOSSOPDALE FURNITURE PROJECT
7. Par�culars of how funds are represented by assets and liabili�es
| March 2024 | March 2024 | Unrestricted | Restricted funds Total |
Restricted funds Total |
|---|---|---|---|---|
| funds | ||||
| £ | £ |
£ | ||
| Tangible Fixed Assets | 152,340 | 41,295 | 193,635 | |
| Current assets | 103,333 | 10,188 | 113,521 | |
| Current Liabilities | (15,171) | - | (15,171) | |
| Long | Term Liabilities | (71,368) | - | (71,368) |
| 168,384 | 51,483 | 220,617 | ||
| March 2023 | ||||
| Tangible Fixed Assets | 182,415 | 10,366 | 192,781 | |
| Current assets | 70,101 | - | 70,101 | |
| Current Liabilities | (12,952) | - | (12,952) | |
| Long | Term Liabilities | (79,730) | - | (79,730) |
| 159,834 | 10,366 | 170,200 | ||
8 |
Debtors | |||
2024 |
2023 | |||
| £ | £ | |||
| Prepayments and accrued income | 2,931 | 3,516 | ||
| Other debtors | 15,477 | 7,844 | ||
| 18,408 | 11,360 | |||
| 9 | Creditors: amounts falling due within one year | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Bank loan | 7,440 | 6,075 |
||
| Accruals | 800 | 800 |
||
| PAYE and NIC | 2,735 | 2,721 |
||
| Other creditors | 4,197 | 3,356 |
||
| 15,171 | 12,952 | |||
| 2024 | 2023 | |||
| 10 | Creditors: amounts falling due a�er one year | £ | £ | |
| Bank loan | 71,368 | 79,730 |
13
GLOSSOPDALE FURNITURE PROJECT
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (con�nued)
11. Movement in funds during the year
| Balances | Income | Expenditure | Transfers | Balances | |
|---|---|---|---|---|---|
| brought | carried | ||||
| forward | forward | ||||
| 01/04/2023 | 31/03/2024 | ||||
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| Unrestricted revenue funds | 159,834 | 255,331 | (255,102) | 9,071 | 169,134 |
| Restricted funds | |||||
| Restricted revenue funds | |||||
| Derbyshire County Council | - | 19,453 | (9,265) | - | 10,188 |
| Councillors Grant - D Greenhalgh | - | 1,081 | (1,081) | - | 0 |
| Albert Hunt Trust | - | 5,000 | (5,000) | - | 0 |
| Foundation Derbyshire | - | 1,893 | (1,893) | - | 0 |
| High Peak CVS | - | 800 | (800) | - | 0 |
| P3 Charity | - | 2,500 | (2,500) | - | 0 |
| Restricted fixed asset funds | |||||
| National Lottery | 9,241 | 10,000 | - | (2,375) | 16,866 |
| Derbyshire County Council | 1,125 | - | (696) | 429 | |
| Bernard Sunley Foundation | - | 5,000 | - | (1,000) | 4,000 |
| Clothworkers Foundation | - | 15,000 | - | (3,000) | 12,000 |
| Garfield Weston | - | 10,000 | - | (2,000) | 8,000 |
| Total restricted funds | 10,366 | 70,728 | (20,539) | (9,071) | 51,483 |
| Total funds | 170,200 | 326,059 | (275,641) | - | 220,617 |
Purpose of funds
Unrestricted funds are used for mee�ng the objec�ves of the charity and are free from restric�ons on their use.
beneficiaries, and these were u�lised during the year in accordance with their grant condi�ons.
released into revenue at the same rate at which the van is depreciated each year.
14