## **TRUP**
**.**
**- (THE RE USE PARTNERSHIP)**
**(A company limited by guarantee)**
**UNAUDITED FINANCIAL STATEMENT FOR THE PERIOD ENDING MARCH 2024 (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 - 9|
|Balance Sheet|10 - 11|
|Notes forming part of Financial Statement|12|
2
## **THE RE-USE PARTNERSHIP REPORT OF THE BOARD FOR THE PERIOD ENDING MARCH 2024**
## **Introduction**
The Board submits its report and the accounts of the Charity for the period ended 31[st] March 2024
## **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 2024**
## **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 also obtained funding for improvements to the showroom, warehouse and general maintenance and redecoration.
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 2022/2023 we collected 1,358 reusable items and diverted 38.18 tonnes from going to land fill.
We supported over 1,148 families in having a better standard of living. We are providing employment for 4 full time and 1 part time staff members.
## **Chairman’s comments**
On behalf of the trustees, I would like to thank the Staff and volunteers for their continued support, enthusiasm and commitment in making TRUP the success it is today.
Our recent FRN audit was successful, but did highlight that there is room for improvement especially around training and attention to detail.
Over the coming year we will be looking at how we can improve in these areas. As we move forward keep up the good work and we will look forward to another successful year.
John Arnold Chair of Trustees
5
## **FINANCIAL REVIEW AND RESULTS FOR THE YEAR**
The net incoming resources for the year amounted to a surplus of £64807.
## **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 £136,300 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
1st November 2024
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 2024, 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.
|accounts to be reached.||
|---|---|
|**Name:**|Kim D Hooper|
|**Relevantprofessionalqualification or body:**|Chartered Accountant|
|**Address:**|132, Admirals Towers,
8 Dowells Street,Greenwich,SE10 9GE|
7
## **The Re-Use Partnership**
## **Financial Activities**
## **April 2023 - March 2024**
|**Income**
**Community health income**
**Cory Funding**
**Donations and legacies**
**ELF Non Vatable**
**ELF VATable**
**Non Vatable sales**
**Other Primary Income**
**Sales**
**TBC Non VATable**
**TBC Vatable**
**Thurrock Council SLA**
**Uncategorised Income**
**VATable sales**
**Total Income**
**Cost of Sales**
**Cost of sales**
**Electrical Goods Installation & Repair**
**Furniture Repairs**
**Total Cost of Sales**
**Total**
**Expenditures**
**Accountancy**
**Adult Vol Program**
**Advertising/Promotional**
**Building Maintenance**
**Cardnet fees (deleted)**
**Cleaning**
**Computer Costs**
**Ebay Fees**
**Electrical Goods Purchased**
**Electricity**|**Total**|
|---|---|
||**Apr 2023- Mar 2024**
**Apr 2022- Mar 2023**|
||94.24
0.00
9,032.00
20,231.41
0.00
0.00
0.00
0.00
92,786.00
40,452.64
0.00
226,994.00
207,022.50
460.00
1,298.00
1,810.00
1,250.00
10.00
1,037.50
2,908.34|
||**£ 331,663.74**
**£ 273,722.89**
2,006.00
347.96
346.42
454.87
489.14|
||**£ 802.83**
**£ 2,841.56**|
||**£ 330,860.91**
**£ 270,881.33**
1,500.00
876.97
683.54
935.74
1,143.00
3,655.45
15,924.49
273.24
382.08
96.04
1,151.73
1,217.58
1,569.28
2,090.53
44,649.86
50,967.41
4,215.98
2,287.34|
8
|**Epos Rental**
**FIRST AID SUPPLIES**
**Fuel**
**Furniture Purchased**
**Furniture Upcycling**
**Gate Fees JLP**
**General Cleaning**
**HEATING OIL**
**Insurances**
**iZettle fees**
**Membership Fees**
**Motor Vehicles Cost**
**Nest Pension**
**Office/General Administrative Expenses**
**Phone Costs**
**Printing, Postage and Stationery**
**Professional Services**
**Refreshments**
**Registration Fees**
**Rent**
**Staff salaries**
**Tolls**
**Tools**
**Uncategorised Expense**
**Vehicle Repairs**
**Vehicle Road Tax**
**Volunteer Refreshments**
**volunteer support**
**Volunteer Travel**
**Waste collection**
**Waste Disposal**
**Water rates**
**Total Expenditures**
**Net Operating Income**
**Other Income**
**Interest**
**Total Other Income**
**Other Expenditures**
**Council tax**
**Heating Repairs**|118.02
4.17
2,922.09
3,431.18
22,503.83
23,247.83
216.13
77.41
3,665.00
2,376.00
16.57
3,486.80
2,349.07
4,062.71
3,855.00
1,018.83
653.60
1,222.00
22.00
9,292.80
9,231.93
1,405.36
5,016.43
258.61
845.45
1,272.61
1,144.58
309.04
104.38
1,799.91
1,618.24
357.69
84.10
83.00
1,666.74
45,473.64
45,086.40
98,640.30
88,856.62
280.00
345.00
612.14
968.25
243.33
206.02
46.99
274.01
220.00
180.00
193.34
208.24
94.26
1,059.25
835.80
1,629.77
1,417.61
5,020.90
7,901.14
582.22
353.97|
|---|---|
||**£ 265,413.81**
**£ 278,674.76**|
||**£ 65,447.10**
**-£ 7,793.43**
306.89|
||**£ 306.89**
**£ 0.00**
599.42
946.00
200.00
400.00|
9
|**WORKWARE/PPE**
**Total Other Expenditures**
**Net Other Income**
**Net Income/(Expenditure)**|146.65
556.88|
|---|---|
||**£ 946.07**
**£ 1,902.88**|
||**-£ 639.18**
**-£ 1,902.88**|
||**£ 64,807.92**
**-£ 9,696.31**|
10
## **The Re-Use Partnership Balance Sheet**
**As of March 31, 2024**
## **Total**
|**Fixed Asset**
**Total Fixed Asset**
**Cash at bank and in hand**
**Cash on hand**
**Community Health Fund**
**Credit Card control account**
**Credit Card T/S Control**
**CURRENT**
**Co-op Savings**
**Total CURRENT**
**DEBIT CARD**
**EBay Control**
**EBay Sales T/S Control**
**ELF Non VATable control**
**ELF VATable control**
**I Zettle Control Account**
**I-Zettle T/S Control**
**PAYPAL**
**Petty Cash**
**Safe Control**
**Salary Advance**
**Till Sales Control**
**Total Cash at bank and in hand**
**Debtors**
**Debtors**
**Total Debtors**
**Current Assets**
**Employee Cash Advances**
**prepayments**
**Total Current Assets**
**Net current assets**
**Creditors: amounts falling due within one year**
**Trade Creditors**
**Creditors**
**Total Trade Creditors**
**Current Liabilities**
**Accruals**
**Cycle to work scheme**
**Deferred income Cory**
**Deferred income ELF**
**PAYE/NI Control**
**Payroll Clearing**|**As of Mar 31, 2024**
**As of Mar 31, 2023**|
|---|---|
||8.00
78.99
205.76
0.00
0.00
0.00
0.00
29,663.07
123,339.40
110,000.00
0.00|
||**£ 139,663.07**
**£ 123,339.40**
1,804.18
892.36
0.00
-2,191.88
0.00
0.00
285.00
285.00
0.00
0.00
669.96
1,578.10
0.00
-840.00
741.74
544.07
49.32
43.40
790.00
690.00
3,110.00
400.00
103.00
71.00|
||**£ 147,430.03**
**£ 124,890.44**
15,000.00
0.00|
||**£ 15,000.00**
**£ 0.00**
0.00
-800.00
6,022.00
6,022.00|
||**£ 6,022.00**
**£ 5,222.00**|
||**£ 168,452.03**
**£ 130,112.44**
0.00
414.00|
||**£ 0.00**
**£ 414.00**
25,806.88
35,623.88
0.00
-306.55
7,022.00
0.00
23,696.21
1,135.75
5,268.02
0.00
-212.23|
11
|**Pension control**|337.91|3,353.55|
|---|---|---|
|**TBC on account**|0.00|0.00|
|**VAT Control**|-2,151.00|1,632.12|
|**VAT Suspense**|0.00|-10,878.83|
|**Wages control account**|0.00|29.70|
|**Total Current Liabilities**|**£ 32,151.54**|**£ 58,205.87**|
|**Total Creditors: amounts falling due within one year**|**£ 32,151.54**|**£ 58,619.87**|
|**Net current assets (liabilities)**|**£ 136,300.49**|**£ 71,492.57**|
|**Total assets less current liabilities**|**£ 136,300.49**|**£ 71,492.57**|
|**Total net assets (liabilities)**|**£ 136,300.49**|**£ 71,492.57**|
|**Charity funds**|||
|**Opening Balance Equity**|0.00|0.00|
|**Retained Earnings**|71,492.57|81,188.88|
|**Surplus/(Deficit)**|64,807.92|-9,696.31|
|**Total Charity funds**|**£ 136,300.49**|**£ 71,492.57**|
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 2024 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 on1st November 2024 and signed on its behalf by:
12
## **The Re-Use Partnership Notes to the accounts for the year ended 31 March 2024**
## **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
## **Members of the Management Committee Remuneration and Expenses**
## **2**
None of the members of the management committee were remunerated directly or indirectly.
During the year, 2 members of the management committee received expenses £1029.59
(2023: 3 members of the management committee received expenses)
## **3 Contingencies and Contractual commitments**
In the opinion of the members of the management committee at 31.3.2024 there were no contingent liabilities and no contractual commitments (2023 nil)
13
## **4 Restricted funds**
None of the funds of the charity are restricted funds
14