## **TRUP.**
**- (THE RE USE PARTNERSHIP) (A company limited by guarantee)**
**UNAUDITED FINANCIAL STATEMENT FOR THE PERIOD ENDING MARCH 2022 (Incorporated 31/10/07)**
**Charity No: 1122496 Company No: 06414089**
**THE RE-USE PARTNERSHIP**
|**Contents**|**Page**|
|---|---|
|Report of the Board|3 - 6|
|Independent Examiners Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9|
|Notes forming part of Financial Statement|10 - 12|
2
**THE RE-USE PARTNERSHIP REPORT OF THE BOARD FOR THE PERIOD ENDING MARCH 2022**
## **Introduction**
The Board submits its report and the accounts of the Charity for the period ended 31[st] March 2021
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Charity Number: 1122496**
## **Company Number: 06414089**
## **Board Members**
John Arnold Director/Trustee Salvatore Tony Benson Director/Trustee Trevor Peterson Director/Trustee Frances Benson Director/Trustee Anthony Sharp Director/Trustee Company Secretary Salvatore T Benson
## **Principal Office**
Unit 34 Thames Industrial Park Princess Margaret Road East Tilbury Essex RM18 8RH
Accountants
Kim Hooper 132, Admirals Towers, 8 Dowells Street, Greenwich, SE10 9GE
3
**THE RE-USE PARTNERSHIP**
## **REPORT OF THE BOARD FOR THE YEAR ENDED 31st March 2022**
## **STUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
The organisation is a charitable company limited by guarantee, and is a registered charity, charity number 1122496. It was incorporated on the 31st October 2007 under number 06414089. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
## **Recruitment and Appointment of Board Members**
The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the company’s articles one third of the Board resign annually and are eligible for re-election.
The charity may, by ordinary resolution, appoint a new person who is willing to act as a director provided that a notice, signed by a member entitled to vote at the meeting, is received between 14 and 35 days before the meeting which states the member’s intention to propose the appointment of the person as a director, contains the details needed for appointment at Companies House and is signed by the person who is to be proposed to show his or her willingness to be appointed.
## **Board Member Induction and Training**
The board consists of the established Trustees, but we are always seeking additional trustees to supplement the wide experience of the existing board.
## **Organisational Management**
The charity is run by a Board consisting of trustees appointed by the Annual General Meeting. Decisions on policy, personnel and expenditure are made by the Board. The charity also employs 5 staff members who deal with the day-to-day decisions and general running of the charity. The board has become more involved with the running of the charity taking on a portfolio approach, with more defined involvement roles.
4
## **OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES**
## **Charitable Objects**
The charitable objects of the charity as set out in the Memorandum of Association are:-
The promotion of re-use, reclamation and the use of surplus items by providing the means to facilitate the re-use of unwanted articles that would otherwise have gone to landfill;
The relief of financial hardship by the renovation and provision of reasonably priced donated, surplus household items or basic new furniture and beds;
For home-making, leisure, craft, play and DIY activities;
The provision of skills-based training and volunteering opportunities for all, targeting vulnerable people who may be at risk of social exclusion, in supporting the objects of the charitable company; To work in partnership with other agencies, organisations and groups, with similar aims or objects, to achieve the above and to raise awareness and educate the public in the benefits of redirecting unwanted waste items for re-use;
To enter into reciprocal arrangements with other organisations and groups with similar aims or objects, to share skills, services and provide support to further the objects of the charitable company.
## **Objectives for the Year**
Raise our profile, increase turn over, seek new initiatives, and make savings through efficiencies.
## **Activities and Performance**
We returned to full operations following the difficulties during the COVID lockdown period and have welcomed back volunteers and attracted several new volunteers to our volunteer support programme.
Thurrock Council’s contract for The ELF (Essential Living Fund) continues to be a vital part of the business but we must continue to focus on re-use and recycling.
For the year ending 2021/2022 we collected 1,836 reusable items and diverted 48.5 tonnes from going to land fill.
We supported over 1,175 families in having a better standard of living. We are providing employment for 3 full time and 2 part time staff members.
## **Chairman’s comments**
On behalf of the Trustees, I would like to thank our staff and volunteers for their support in enabling us to deliver our commitments to the community, especially our supported volunteering programme. There are difficult times ahead and I am sure that we will be able to continue supporting those who need it most.
John Arnold
Chair of Trustees
5
## **FINANCIAL REVIEW AND RESULTS FOR THE YEAR**
A summary of the results for the year is given on page 8 of the financial statements.
The net incoming resources for the year amounted to £14,174.
## **Reserves Policy**
The board have established a policy whereby the unrestricted funds not committed or invested in tangible assets (“the free reserves”) held by the charity should be between 3 and 6 months of the resources expended, which equates to £26,000 to £52,000 in general funds. At this level, the Board feels that they would be able to continue the current activities of the charity in the event of a significant drop in funding. It would be obviously necessary to consider how the funding would be replaced or activities changed. The present reserves amount to £81267 plus a rent deposit of £9,808.
## **Investment Policy**
The Board has considered the investment requirements of the charity and has decided that uncommitted funds should be retained in Banks and Building Societies and that any suggested changes to the banking arrangements should be agreed with them in advance. The Board also feel that funds should be retained in interest bearing accounts wherever this is practical.
This report has been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities and taking advantage of the Small Companies Exemption of section 415A of the Companies Act 2006.
Approved by the Board on __________________________
And signed on its behalf by
___________________________
6
## **’ - Independent examiner s report to the trustees of The Re Use Partnership**
I report on the accounts of the company for the year ended 31 March 2022, which are set out on the following pages.
## **Respective responsibilities of the directors and examiner**
The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) or under regulation 10 (1) (a) to (c) of The Charities Accounts (Scotland) Regulations 2006 (as amended) (the 2006 Accounts Regulations) and that an independent examination is needed. The charity is required by company law to prepare accrued accounts and I am qualified to undertake the examination by being a qualified member of (named body).
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts (under section 43(3)(a) of the 1993 Act) and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act);
- follow the procedures laid down in the general directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act); and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general directions given by the Charity Commission and is in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. 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 matters set out in the statement below.
## **Opinion**
In connection with my examination, no matter has come to my attention:
1. Which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006 and section 44(1)(a) of the 2005 Act; and
- to prepare accounts which accord with the accounting records,
- CIPFA | Understanding reports on charity financial statements 12 comply with the accounting requirements of the Companies Act 2006, section 44(1)(b) of the 2005 Act and regulation 8 of the 2006 Accounts Regulations; and
- which are consistent with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
|2. To which, in my opinion, attention should be
of the accounts to be reached.|drawn in order to enable a proper understanding|
|---|---|
|**Name:**|Kim D Hooper|
|**Relevantprofessionalqualification or body:**|Chartered Accountant|
|**Address:**|132, Admirals Towers,
8 Dowells Street,Greenwich,SE10 9GE|
7
## **The Re-Use Partnership**
## **Statement of Financial Activities for the year ended 31 March 2022**
||||**year**|**year**|
|---|---|---|---|---|
||||**ended**|**ended**|
|_Notes_|unrestricted|restricted|**31.3.2022**|**31.3.2021**|
|||||£|
|**Incoming Resources**|||||
|Donations and similar resources|1,180|0|**1,180**|0|
|Operating activities|||||
|in furtherance of charity's|||||
|objects
_2_|316,743|0|**316,743**|223,449|
|for generating|||||
|funds|||**0**|0|
|Corona virus funding||0|**8,599**|59,490|
|Other income|0|0|**0**|0|
|**total incoming resources**|**317923**|**8,599**|**326,523**|282,939|
|**Resources expended**
_3_|||||
|Costs of generating funds|22,956|0|**22,956**|15,929|
|Charitable expenditure||||0|
|infurtheranceof thecharity's|||||
|objects|268,204|8,599|**276,803**|227,968|
|Management and|||||
|administration|12,588|0|**12,588**|10,225|
|**total resources expended**|**303,749**|**8,599**|**312,349**|254,122|
|**Net movement in resources**|**14,175**|**0**|**14,174**|28,817|
|**Total funds brought forward**|67,092|0|**£67,092**|38,275|
|**Total funds carried forward**|**£81,267**|**£0**|**£81,266**|£67,092|
|**Summary Income and**|**Expenditure Account**||||
|**for the year ended 31 March 2021**|||||
||||**year**||
||||**ended**||
||||**31.3.2022**|**31.3.2021**|
|||||£|
|**Gross income of continuing**|||||
|**activities**|||**326,523**|282,939|
|**Total expenditure of continuing operations**|||**312,349**|254,122|
|**Net income / (loss) for the year**|||**£14,174**|£28,817|
The summary income and expenditure account is derived from the Statement of Financial Activities above, which together with the notes to the accounts on the following pages provides full information on the movements during the year
8
## **The Re-Use Partnership**
## **Balance Sheet as at 31 March 2022**
|_Notes_
**Fixed assets**
5
**Current assets**
Debtors and prepayments
6
Cash at Bank
**Liabilities - amounts falling due within one year**
Creditors and accruals
7
**Net current assets**
**Total assets less current liabilities**
**Funds**
Restricted
10
Designated
11
Unrestricted
11
12|**2022**
**£**
**0**
**40,649**
**90,368**
**131,018**
**49,752**
**81,266**
**£81,266**
**£0**
**£81,266**
£81,266|**2021**
£
0
17,520
**79,717**
**97,237**
**30,145**
67,092
£67,092
0
0
67,092
£67,092|
|---|---|---|
The accounts are prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small/medium companies
For the year ended 31 March 2022 the company was entitled to exemption under Section 249A(2) of the Companies Act 1985
No members have required the company to obtain an audit of its accounts for the year in question in accordance with Section 249B(2)
The directors acknowledge their responsibility for
- (i) ensuring that the company keeps accounting records which comply with Section 221
- (ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its financial year, and of its profit and loss for the financial year in accordance with Section 226, of and which otherwise comply with the requirements of the Companies Act 1985 relating to accounts, so far as applicable to this company
Approved by the Management Committee on 2022 and signed on its behalf by:
_the notes on the following pages form part of these accounts_
9
## **The Re-Use Partnership**
## **Notes to the accounts for the year ended 31 March 2022**
## **1 Accounting policies**
## **a)** Basis of accounting
These accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the revised Statement of Recommended Practice on Accounting by Charities (the Charities SORP")
- **b)** Grants
Grants are recognised in the Statement of Financial Activities (SOFA) on an accruals basis following the satisfaction of any pre-conditions
## **c)** Donations, other income, fundraising and gifts
Donations, other income, gifts and fund raising are recognised in the accounts on a received basis. Gifts in kind are valued at their value to the charitable company
- **d)** Expenditure and support costs
- Expenditure is recognised on an accruals basis and where incurred on activities falling directly within one cost category is included accordingly. The support costs of the charity which include wages and salaries, premises, telephone, printing, postage, stationery, equipment hire, subscriptions, training, and insurance are allocated based on the level of activity. The percentages applied are: Costs of generating funds 2.50% Costs of activities in furtherance of the charity's objects 95.00% Management and administration 2.50%
## **e)** Capitalisation
Expenditure on office equipment, fixtures and fittings which exceed £100 are capitalised
## **f)** Depreciation
Provision for depreciation of fixed assets held for use by the charitable company is made at annual rates calculated to spread the cost of each asset over its expected useful life. The depreciation rates currently in use are: motor vehicles write off over 4 years Fixtures & equipment write off over 3-4 years
## **g)** Taxation
No provision for taxation is included in the accounts as the charitable company is entitled to exemption from tax afforded by Section 505 of the Income and Corporation Taxes Act 1988
## **I)** Cashflow
The charitable company qualifies as a small company and therefore in accordance with FRS102, no cashflow statement is required
## **2 Grants and donations**
Included in the statement of financial activities as donations and similar resources and operating activities in furtherance of the charity's objects are the following grants:
||unrestricted|restricted|**2022**|**2021**|
|---|---|---|---|---|
|Unrestricted|14,368|0|**14,368**|19,434|
|Restricted||||0|
|Coronavirus grant|0|8,599|**8,599**|59,490|
|sales|303,556|0|**303,556**|204,015|
||**£317,923**|**£8,599**|**£326,522**|£282,939|
10
## **3 Analysis of total resources expended**
|**staff**
**other**
**costs**
**costs**
**depn**
**£**
**£**
**£**
**Costs of generating funds**
**1,917**
**21,030**
**0**
**Charitable expenditure**
in furtherance of the charity's
objects
**73,244**
**203,560**
**0**
management & administration
**1,927**
**10,662**
**0**
**£77,098**
**£235,252**
**£0**
**other costs**
rent and rates
light and heat
telephone
stationery and postage
computer expenses
staff training & costs
purchase & refurbishment goods for sale
staff travel and expenses
volunteers
accountants fee
Legal & professional fees
insurance
vehicle running costs
repairs and maintenance
subscriptions and publications
Bank charges
advertising and publicity|**2022**
**total**
**£**
**22,956**
**276,803**
**12,558**
**£312,348**
**2022**
**49,102**
**4,940**
**1,613**
**571**
**3,577**
**416**
**139,789**
**1,911**
**2,659**
**1,500**
**5,387**
**5,305**
**10,241**
**6,186**
**1,438**
**571**
**45**
**£236,252**|**2021**
total
£
15,929
0
227,966
10,226
£254,121
**2021**
26,710
3,345
617
316
374
52
113,607
2,238
1,329
1,500
1,597
4.227
8,335
11,803
1,142
321
0
**£177,510**|
|---|---|---|
Insurance includes £2,868 in respect of insurance (2021£1,248) which provides indemnity to the charitable company for third party claims arising from breach of professional duty by any reason of neglect, error or omission committed in good faith by any of the paid advisors or volunteers
## **4 Employees**
During the year the charitable company employed 3 full time and 2 part time employees (2021 3 full time and 2 part time) No employee earned more than £60,000 per annum
|**5**
**Fixed Assets**
**furniture,**
**fixtures**
**equipment**
**cost**
balance at 1 April 2021
19,606
additions
0
disposals
0
balance at 31 March 2022
**£19,606**|**MV**
7,316
0
0
**£7,316**|**total**
**26,922**
**0**
**0**
**£26,922**|
|---|---|---|
11
## **depreciation**
|balance at 1 April 2020
charge for the
year
depreciation on disposals
balance at 31 March 2021
**Net book value at 31 March**
**2021**
Net book value at 1 April
2020
**6**
**Debtors and prepayments**
prepayments
Other debtors
**7**
**Creditors and accruals**
Other creditors
Deferred income
Taxation
Accruals|19,606
0
0
**£19,606**
**£0**
£0|7,316
**26,922**
0
**0**
0
**0**
**£7,316**
**26,922**
**£0**
**£0**
£0
£0
**2022**
**2021**
**£**
£
**6,022**
6,022
**£34,627**
14,443
**£40,649**
20,465
**2022**
**2021**
**£**
£
**23,410**
5,493
**11,501**
11,501
**5,350**
5,161
**9,492**
7,992
**£49,752**
£30,147|
|---|---|---|
## **8 Members of the Management Committee Remuneration and Expenses**
None of the members of the management committee were remunerated directly or indirectly. During the year, 3 members of the management committee received expenses (2020: 0 members of the management committee received expenses)
## **9 Contingencies and Contractual commitments**
In the opinion of the members of the management committee at 31.3.2022 there were no contingent liabilities and no contractual commitments (2021 nil)
## **1**
## **0 Restricted funds**
None of the funds of the charity are restricted funds
12