```
REGISTERED COMPANY NUMBER: 07252909 (England and Wales)
REGISTERED CHARITY NUMBER: 1137021
```
```
Report of the Trustees and
```
```
Unaudited Financial Statements
for the Year Ended 31 March 2021
```
```
for
```
```
Furniturelink
```
```
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
```
```
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
```
```
Furniturelink
```
## **`Contents of the Financial Statements for the Year Ended 31 March 2021`**
||**`Page`**|
|---|---|
|**`Report of the Trustees`**|`1 to 3`|
|**`Independent Examiner's Report`**|`4`|
|**`Statement of Financial Activities`**|`5`|
|**`Balance Sheet`**|`6 to 7`|
|**`Notes to the Financial Statements`**|`8 to 12`|
```
Furniturelink
```
## **`Report of the Trustees for the Year Ended 31 March 2021`**
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2021.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
```
The objects are:
```
```
1) The relief of financial hardship among people living or working in the county of Surrey and the surrounding area by:
i. The recycling and provision of furniture, clothes and other household items.
```
```
ii. The provision of grants or other goods or services.
```
```
2) The reliefof unemploymentfor the publicbenefitin suchways as may be thoughtfit, includingtraining, assistance
to find employment or the provision of work experience (either paid or unpaid).
```
- `3) The protection and preservation of the environment for the public benefit by:`
```
i. The promotion of waste reduction, re-use reclamation, recycling, use of recycled products and the use of surplus.
ii.Advancingtheeducationofthepublicaboutallaspectsofwastegeneration,wastemanagementand waste
recycling.
```
## **`ACHIEVEMENTS AND PERFORMANCE`**
```
This was a turbulentyear duringwhich we faced havingto establisha COVID safe workingenvironmentand operation
andseekingandobtaininggovernmentandCouncilgrantsandfundingtoenableustofurloughallstaffonfull pay
whilstthe businesswas closed- 4 from 1 March2020 and 2 from 1 April2020. Grantallocationswere based primarily
onrateablevalueofpropertiesusedindeliveringservices.WehadexcellentsupportfromtheWokingSalary team
whowaivedtheirchargesduringperiodsoflockdownanddidnotchargeforprocessingourJobRetention Scheme
claimfromwhichweobtainedfundstomeet80%ofoursalarycosts.TheBoardagreedtopaytheremaining 20%
fromourreservesmonthlysubjecttoamonthlyreviewofourfinancialposition.Wealsoobtainedagrantfrom the
government's Retail Hospitality and Leisure grant fund scheme.
```
```
Whilstwewereshutweadoptedflexiblefurlougharrangementsforoursocialmedia/onlinesales co-ordinator
Kathryntocomeofffurloughfor1or2dayseachweektomaintainouronlinepresenceandforWendytomake a
coupleof visits to Merrow each week to check premises remain secure and safe. Ultimatelywe securednearly£90k of
grantsrelatingto COVID that put us in a goodpositionon whichto restartthe operationin July 2020. The 20% top-up
lasteduntiltheendofJune2020.WithCOVIDinfectionseasingwe wereabletore-openMerrowon20thJuly albeit
witha numberof COVIDpreventionmeasuresin placeincludingregularcleaningof the vanandpremises,training of
staff,useofPPEandsegregationofitemsaswellasuseofaSquareupportablecardmachineenablingusto avoid
handling cash payments on the van.
```
```
Forthefirstmonthsofoperationwewerehelpedbyhavinggovernmentextendfurlougharrangementsto October
albeit at a reducing rate over that period.
```
```
Throughout the year we continued to supply Poyle clients with basic furniture paid for at a reduced rate by Poyle.
```
```
On accommodationwe signed a tenancyagreement for the Ash warehousespace, acceptingthe short notice period of
a month as a risk worth taking- the Co-op are still lookingto redevelopthe site. Duringthe year we had great support
fromDanourlandlordatMerrowBusinessParkwhodeferredourrentalchargeswhilstwewereinlockdown. We
acceptedhis offerof a 10% increasein rentalof £2k pa bringingthe totalrentto £22kandin returnwe signeda new
lease agreement for 5 years from April 2022 with a break clause halfway through that either party could trigger.
```
```
Page 1
```
```
Furniturelink
```
## **`Report of the Trustees for the Year Ended 31 March 2021`**
## **`ACHIEVEMENT AND PERFORMANCE`**
```
Whilststaffingremainedstablewewereunabletorecruitadriver'smatehavingtousemanagertimetofill the
positionwhenrequiredandonoccasionsuseAgencystaff.Wealsofacedsignificantchallengeswithonemember of
staff requiringtrustee supportto eventuallyenable the member concernedto turn their behaviourroundand become
fully committed and motivated for the success of our work.
```
```
WefacedacontinuingproblemingettingtheBulkyWasteworkfromGBCwhoweretiedintousingthe charity
"FurnitureHelpline",afurniturerecyclingprojectbasedinBordonthroughtheirdecisiontoobtainservices from
SurreyRe-useNetworkofwhichFHwereamemberbutwewerenot.Howeverwecontinuedtobenefitfrom our
contractwithJohnLewistorecycletheirfurniturefromtheirBrooklandsite,givingusa supplyofhighquality nearly
new furniture we were able to sell online for a good price.
```
## **`FINANCIAL REVIEW`**
```
TheAnnualfinancereportfortheyeartoendMarch2021,isintheannexedStatementofFinancialActivities. some
key highlights were:
```
```
- Of £181kincomesome£85kweregrantpayments,theother£96kfromtrading.Overallthiswasonly8% down on
the previous year, a great performance by the team.
```
```
-Wehadaround£28kinthebankcw£23klastyearandthereweremoregrantpaymentstocome, including
outstanding furlough payments.
```
```
-Withtradingresumingatahealthylevelfromthestartofre-openingwewereinagoodpositionandhad come
through with "flying colours".
```
```
- We havereceiveda BounceBackloanfromBarclays,whichis beingheldinreserveuntilnextFebruaryandwill be
returned if unused.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
```
-The charity is controlled by The trustees.
```
```
-Thetrusteesconsiderthattherearesufficientreserves.Anypossibleriskshavebeenconsideredandtaken into
account in future budgets.
```
```
- All trustees appointed when necessary and are given sufficient training on appointment.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Company number`**
```
07252909 (England and Wales)
```
## **`Registered Charity number`**
```
1137021
```
## **`Registered office`**
```
Unit 2b
Merrow Business Park
Guildford
Surrey
GU4 7WA
```
## **`Trustees`**
```
R Crooks Chairman
Dr A Gunning
A M Wheatley
M J Adams Company Secretary
K Rogers
G A Wallace Treasurer
```
## **`Company Secretary`**
```
M J Adams
```
```
Page 2
```
```
Furniturelink
```
```
Report of the Trustees
for the Year Ended 31 March 2021
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Independent Examiner`**
```
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
```
```
Approved by order of the board of trustees on 1 December 2021 and signed on its behalf by:
```
```
R Crooks - Trustee
```
```
Page 3
```
```
Independent Examiner's Report to the Trustees of
Furniturelink
```
## **`Independent examiner's report to the trustees of Furniturelink ('the Company')`**
```
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
```
## **`Responsibilities and basis of report`**
```
As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
```
```
Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:
```
`1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or`
`4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
```
```
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
```
```
1 December 2021
```
```
Page 4
```
```
Furniturelink
```
## **`Statement of Financial Activities`**
## **`for the Year Ended 31 March 2021`**
|`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`94,273`
**`Charitable activities`**
`Furniture donation and resale`
`87,058`
**`Total`**
`181,331`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Furniture donation and resale`
`184,736`
**`NET INCOME/(EXPENDITURE)`**
`(3,405)`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`43,046`
**`TOTAL FUNDS CARRIED FORWARD`**
`39,641`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`31.3.21`
`Total`
`funds`
`£`
`94,273`
`87,058`
`181,331`
`184,736`
`(3,405)`
`43,046`
`39,641`|`31.3.20`
`Total`
`funds`
`£`
`14,327`
`182,633`
`196,960`
`206,375`
`(9,415)`
`52,461`
`43,046`|
|---|---|---|---|
```
The notes form part of these financial statements
```
```
Page 5
```
```
Furniturelink
```
## **`Balance Sheet`**
## **`31 March 2021`**
|||||`31.3.21`|`31.3.20`|
|---|---|---|---|---|---|
|||`Unrestricted`|`Restricted`|`Total`|`Total`|
|||`fund`|`fund`|`funds`|`funds`|
||`Notes`|`£`|`£`|`£`|`£`|
|**`FIXED ASSETS`**||||||
|`Tangible assets`|`6`|`5,042`|`-`|`5,042`|`8,246`|
|**`CURRENT ASSETS`**||||||
|`Stocks`|`7`|`1,039`|`-`|`1,039`|`375`|
|`Debtors`|`8`|`17,096`|`-`|`17,096`|`21,299`|
|`Prepayments and accrued income`||`-`|`-`|`-`|`2,955`|
|`Cash at bank and in hand`||`58,377`|`-`|`58,377`|`23,078`|
|||`76,512`|`-`|`76,512`|`47,707`|
|**`CREDITORS`**||||||
|`Amounts falling due within one year`|`9`|`(9,913)`|`-`|`(9,913)`|`(10,907)`|
|**`NET CURRENT ASSETS`**||`66,599`|`-`|`66,599`|`36,800`|
|**`TOTAL ASSETS LESS CURRENT LIABILITIES`**||`71,641`|`-`|`71,641`|`45,046`|
|**`CREDITORS`**||||||
|`Amounts falling due after more than one year`|`10`|`(32,000)`|`-`|`(32,000)`|`(2,000)`|
|**`NET ASSETS`**||`39,641`|`-`|`39,641`|`43,046`|
|**`FUNDS`**|`12`|||||
|`Unrestricted funds`||||`39,641`|`43,046`|
|**`TOTAL FUNDS`**||||`39,641`|`43,046`|
```
The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 March 2021.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2021 in accordance with Section 476 of the Companies Act 2006.
```
```
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.`
```
The notes form part of these financial statements
```
```
continued...
```
```
Page 6
```
```
Furniturelink
```
## **`Balance Sheet - continued`**
## **`31 March 2021`**
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.
```
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon1December2021 and
were signed on its behalf by:
```
```
R Crooks - Trustee
```
```
The notes form part of these financial statements
```
```
Page 7
```
```
Furniturelink
```
## **`Notes to the Financial Statements for the Year Ended 31 March 2021`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
Companies Act 2006. The financial statements have been prepared under the historical cost convention.
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
```
## **`Tangible fixed assets`**
```
Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.
```
```
Motor vehicles: Straight line over 3 and 5 years
```
## **`Stocks`**
```
Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and
slow moving items.
```
## **`Taxation`**
```
The charity is exempt from corporation tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
```
```
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
```
```
continued...
```
```
Page 8
```
```
Furniturelink
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 March 2021`**
## **`2. NET INCOME/(EXPENDITURE)`**
```
Net income/(expenditure) is stated after charging/(crediting):
```
||`31.3.21`|`31.3.20`|
|---|---|---|
||`£`|`£`|
|`Depreciation - owned assets`|`3,204`|`5,800`|
## **`3. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2021norforthe year
ended 31 March 2020.
```
## **`Trustees' expenses`**
```
Therewerenotrustees'expensespaidfortheyearended31March2021norfortheyear ended
31 March 2020.
```
## **`4. STAFF COSTS`**
```
The average number of employees during the year was 6 (2020: 6).
```
## **`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`14,327`
**`Charitable activities`**
`Furniture donation and resale`
`182,633`
**`Total`**
`196,960`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Furniture donation and resale`
`206,375`
**`NET INCOME/(EXPENDITURE)`**
`(9,415)`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`52,461`
**`TOTAL FUNDS CARRIED FORWARD`**
`43,046`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`Total`
`funds`
`£`
`14,327`
`182,633`
`196,960`
`206,375`
`(9,415)`
`52,461`
`43,046`|
|---|---|---|
```
continued...
```
```
Page 9
```
```
Furniturelink
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 March 2021`**
## **`6. TANGIBLE FIXED ASSETS`**
|**`6.`**|**`TANGIBLE FIXED ASSETS`**|||
|---|---|---|---|
||||`Motor`|
||||`vehicles`|
||||`£`|
||**`COST`**|||
||`At 1 April 2020 and 31 March 2021`||`24,485`|
||**`DEPRECIATION`**|||
||`At 1 April 2020`||`16,239`|
||`Charge for year`||`3,204`|
||`At 31 March 2021`||`19,443`|
||**`NET BOOK VALUE`**|||
||`At 31 March 2021`||`5,042`|
||`At 31 March 2020`||`8,246`|
|**`7.`**|**`STOCKS`**|||
|||`31.3.21`|`31.3.20`|
|||`£`|`£`|
||`Finished goods`|`1,039`|`375`|
|**`8.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|||`31.3.21`|`31.3.20`|
|||`£`|`£`|
||`Other debtors`|`16,427`|`21,299`|
||`VAT`|`669`|`-`|
|||`17,096`|`21,299`|
|**`9.`**|**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|||`31.3.21`|`31.3.20`|
|||`£`|`£`|
||`Trade creditors`|`1,637`|`-`|
||`VAT`|`-`|`844`|
||`Accrued expenses`|`8,276`|`10,063`|
|||`9,913`|`10,907`|
```
continued...
```
```
Page 10
```
```
Furniturelink
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 March 2021`**
## **`10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
|||`31.3.21`|`31.3.20`|
|---|---|---|---|
|||`£`|`£`|
||`Bank loans (see note 11)`|`32,000`|`2,000`|
|**`11.`**|**`LOANS`**|||
||`An analysis of the maturity of loans is given below:`|||
|||`31.3.21`|`31.3.20`|
|||`£`|`£`|
||`Amounts falling between one and two years:`|||
||`Bank loans - 1-2 years`|`2,000`|`-`|
||`Amounts falling due between two and five years:`|||
||`Bank loans - 2-5 years`|`30,000`|`2,000`|
```
12.MOVEMENT IN FUNDS
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.4.20`
`£`
`43,046`
`43,046`
`Incoming`
`resources`
`£`
`181,331`
`181,331`
`At 1.4.19`
`£`
`52,461`
`52,461`|`Net`
`movement`
`At`
`in funds`
`31.3.21`
`£`
`£`
`(3,405)`
`39,641`
`(3,405)`
`39,641`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(184,736)`
`(3,405)`
`(184,736)`
`(3,405)`
`Net`
`movement`
`At`
`in funds`
`31.3.20`
`£`
`£`
`(9,415)`
`43,046`
`(9,415)`
`43,046`|
|---|---|---|
```
continued...
```
```
Page 11
```
```
Furniturelink
```
## **`Notes to the Financial Statements - continued`**
## **`for the Year Ended 31 March 2021`**
## **`12. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`196,960`
`196,960`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(206,375)`
`(9,415)`
`(206,375)`
`(9,415)`|
|---|---|---|
## **`13. RELATED PARTY DISCLOSURES`**
```
Therewere norelatedpartytransactionsfortheyearended31 March2021norfortheyearended31 March
2020.
```
## **`14. INDEPENDENT EXAMINER'S REMUNERATION`**
||`2021`|`2020`|
|---|---|---|
||`£`|`£`|
|`Independent Examiner's remuneration`|`1,000`|`1,000`|
||||
```
Page 12
```