``` 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 2025 ``` ``` for ``` ``` Furniturelink ``` ``` A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ``` Furniturelink ``` ## **`Contents of the Financial Statements for the Year Ended 31 March 2025`** |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`4`| |**`Independent Examiner's Report`**||`5`|| |**`Statement of Financial Activities`**||`6`|| |**`Balance Sheet`**|`7`|`to`|`8`| |**`Notes to the Financial Statements`**|`9`|`to`|`12`| |**`Detailed Statement of Financial Activities`**|`13`|`to`|`14`| ``` Furniturelink ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ``` Thetrusteeswhoarealsodirectorsof thecharityforthepurposesof theCompaniesAct2006,presenttheirreport with thefinancialstatementsofthecharityfortheyearended31March2025.Thetrusteeshaveadoptedtheprovisions of AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102) (effective 1 January 2019). ``` ``` Page 1 ``` ``` Furniturelink ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ## **`OBJECTIVES AND ACTIVITIES`** ``` We continue to strive to meet our corporate objectives to: ``` ``` => Divert unwanted furniture from landfill. ``` ``` => Provide affordable furniture. ``` - `=> Enable furniture re-use for residents.` ## `ACHIEVEMENTS AND PERFORMANCE` ``` This year has seen Furniture Link face a number of challenges chief amongst which have been ``` ``` - A successful full audit by Furniture Reuse Network auditors ``` ``` -FollowingthewithdrawalofourfreewastedisposalpassesfromSurreyCountyCouncil,thecharityisnowrequired to pay commercial rates to dispose of non-reusable furniture items, introducing a significant new monthly operational cost. ``` ``` - LossofourJohnLewistakebackcontractinDec2024reducingourrevenuealthoughtheycontinuetoprovideus with nearly new mattresses ``` ``` -AsignificantdropinsalesduringDecember2024andJanuary2025,althoughrevenuereturnedtoexpectedlevels in February and March ``` ``` - A needtoupgradeourIT servicestocontinuetoabletocallonsupportforourIT assupportforexistingproducts was withdrawn ``` ``` - Duringthe year, we exploredoptionsfor a new EPOS systemto replaceour outdatedsales software.The main challenge has beenidentifyinga providerthatoffersa suitabledeliveryand collectionmodule,whichis essentialto our operations. We havebeenworkingcloselywithSeb(IT support)andwithpartnersfromtheWokingFurnitureProjectand Furnistore to reviewpossiblesuppliersandensurethesolutionwe choosefullymeetsourlogisticalandreportingneeds. Donations towards this upgrade have been gratefully received from Poyle and the Surrey Community fund ``` ``` InspiteofthesechallengesourteamunderWendyourCEO'sleadershiphaveachievedovertheyearApril24to March 25: ``` ``` - 1,236collectionsand deliveries,supportinghouseholdsacrossSurreyand ensuringdonateditems were givena new life. Over the year, we collectedapproximately72 tonnesof reusablefurnitureand householdgoods,includingbeds, electrical items, hard and soft furnishings, and bric-a-brac. ``` ``` -Ofthistotal,61tonnesweresoldandsuccessfullyreusedduringtheyear,helpinglocalfamiliesfurnishtheir homes affordablywhilesignificantlyreducingwastesenttolandfill.Theremainingitemsareheldinourwarehousefor future resale or redistribution. ``` ``` Intotal,2,868individualitemsweresold,contributingdirectlytoourenvironmentalandsocialobjectivesof reuse, sustainability, and community support. ``` - `1,236 collections/deliveries` - `Diversion of some 2,868 items from landfill` - `322 beds` - `665 items of Bric a Brac` - `200 electrical items` - `1,436 items of hard furniture` - `245 items of soft furniture` ``` Most incomestreamsremainedsteady,but onlinesaleshave provedcrucialto performance.Recognisingthis,the charity has restructuredand reassignedmanagementof onlinesales to experiencedfull-timestaff to drive futuregrowth.We are hoping to reintroduce a social media and Marketing Assistant in the future ``` ``` Page 2 ``` ``` Furniturelink ``` ## **`Report of the Trustees`** ## **`for the Year Ended 31 March 2025`** ``` Thecharityhasfacedcontinuedcostpressures,particularlyfromrisingfuelandenergycosts.As withmanycharities, we havealsoseenincreasingstaffingcostsduetoannualrisesintheNationalMinimumWage,thetrusteesreview pay structures annually to ensure fairness while maintaining financial sustainability. ``` ``` Overall,thedeficitfortheyearwas£8126a slightimprovementonthepreviousyearwherethedeficitwas£10182. We have £24,000 in liquid assets. ``` ``` In closingI must thankmy fellowtrusteesespeciallyour Financelead,for theircommitmentand contributionsto keeping FurnitureLinkGuildfordontheroad.AboveallImustcongratulateWendyandherteamonkeepingusafloatin these challenging times. ``` ``` The Trustee Board has met on the following dates: Weds 3rd April 2024 Weds 3rd July 2024 Weds 9th Oct 2024 Weds 18th Dec 2024 Weds 26th Mar 2024 ``` ``` OurthankstoallinvolvedwithFLGandespeciallytoWendy,ourCEO,who'sdeterminationandingenuity have successfully managed Furniturelink through another challenging year. ``` ## **`FINANCIAL REVIEW`** ``` The annual finance report for the year end March 2025 is as set out in the attached Statement of Financial Activities. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** - `-The charity is controlled by The trustees.` - `-The trustees consider that there are sufficient reserves. Any possible risks have been considered and taken 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 M J Adams Company Secretary G A Wallace Treasurer ``` ``` Page 3 ``` ``` Furniturelink ``` ## **`Report of the Trustees for the Year Ended 31 March 2025`** ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Company Secretary`** ``` M J Adams ``` ## **`Independent Examiner`** ``` A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ``` Approved by order of the board of trustees on ............................................. and signed on its behalf by: ``` ``` .......................................................................... R Crooks - Trustee ``` ``` Page 4 ``` ``` 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 2025. ``` ## **`Responsibilities and basis of report`** ``` As thecharity'strusteesof theCompany(andalsoits directorsforthepurposesof companylaw)youareresponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). ``` ``` HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006 Act andareeligibleforindependentexamination,I reportinrespectof my examinationof yourcharity'saccountsas carried outunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowed 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)).` ``` I have no concernsand have come acrossno othermattersin connectionwith the examinationto whichattention 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 Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ``` Date: ............................................. ``` ``` Page 5 ``` ``` Furniturelink ``` ## **`Statement of Financial Activities`** ## **`for the Year Ended 31 March 2025`** |`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`9,567`
**`Charitable activities`**
`Furniture donation and resale`
`226,069`
**`Total`**
`235,636`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Furniture donation and resale`
`243,762`
**`NET INCOME/(EXPENDITURE)`**
`(8,126)`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`40,621`
**`TOTAL FUNDS CARRIED FORWARD`**
`32,495`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`31.3.25`
`Total`
`funds`
`£`
`9,567`
`226,069`
`235,636`
`243,762`
`(8,126)`
`40,621`
`32,495`|`31.3.24`
`Total`
`funds`
`£`
`8,425`
`228,316`| |---|---|---|---| ||||`236,741`| ||||`246,923`| ||||`(10,182)`
`50,803`| ||||`40,621`| ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` Furniturelink ``` ## **`Balance Sheet`** ## **`31 March 2025`** |||||`31.3.25`|`31.3.24`| |---|---|---|---|---|---| |||`Unrestricted`|`Restricted`|`Total`|`Total`| |||`fund`|`fund`|`funds`|`funds`| ||`Notes`|`£`|`£`|`£`|`£`| |**`CURRENT ASSETS`**|||||| |`Debtors`|`5`|`24,755`|`-`|`24,755`|`19,657`| |`Cash at bank and in hand`||`24,158`|`-`|`24,158`|`30,932`| |||`48,913`|`-`|`48,913`|`50,589`| |**`CREDITORS`**|||||| |`Amounts falling due within one year`|`6`|`(6,298)`|`-`|`(6,298)`|`(9,968)`| |**`NET CURRENT ASSETS`**||`42,615`|`-`|`42,615`|`40,621`| |**`TOTAL ASSETS LESS CURRENT LIABILITIES`**||`42,615`|`-`|`42,615`|`40,621`| |**`ACCRUALS AND DEFERRED INCOME`**|`7`|`(10,120)`|`-`|`(10,120)`|`-`| |**`NET ASSETS`**||`32,495`|`-`|`32,495`|`40,621`| |**`FUNDS`**|`8`||||| |`Unrestricted funds`||||`32,495`|`40,621`| |**`TOTAL FUNDS`**||||`32,495`|`40,621`| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year ended 31 March 2025. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended 31 March 2025 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 7 ``` ``` Furniturelink ``` ## **`Balance Sheet - continued`** ## **`31 March 2025`** ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies subject to the small companies regime. ``` ``` The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issueon ............................................. and were signed on its behalf by: ``` ``` ............................................. ``` ``` R Crooks - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 8 ``` ``` Furniturelink ``` ## **`Notes to the Financial Statements for the Year Ended 31 March 2025`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies Act 2006. The financial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhas entitlementto the funds,it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethata transferofeconomicbenefitswillberequiredinsettlement and the amountof the obligationcan be measuredreliably.Expenditureis accountedfor on an accrualsbasisand has beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of resources. ``` ## **`Tangible fixed assets`** ``` Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful life. ``` ``` Motor vehicles: Straight line over 3 and 5 years ``` ## **`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. ``` ``` Restrictedfundscan onlybe usedfor particularrestrictedpurposeswithinthe objectsof the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ``` ``` continued... ``` ``` Page 9 ``` ``` Furniturelink ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2025`** ## **`2. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewere no trustees'remunerationor otherbenefitsfor the year ended31 March2025 nor for the year ended 31 March 2024. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. ``` ## **`3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** ## **`4.`** |`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`8,425`
**`Charitable activities`**
`Furniture donation and resale`
`228,316`
**`Total`**
`236,741`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Furniture donation and resale`
`246,923`
**`NET INCOME/(EXPENDITURE)`**
`(10,182)`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`50,803`
**`TOTAL FUNDS CARRIED FORWARD`**
`40,621`
**`TANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 April 2024 and 31 March 2025`
**`DEPRECIATION`**
`At 1 April 2024 and 31 March 2025`
**`NET BOOK VALUE`**
`At 31 March 2025`
`At 31 March 2024`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`Total`
`funds`
`£`
`8,425`
`228,316`| |---|---|---| |||`236,741`| |||`246,923`| |||`(10,182)`
`50,803`| |||`40,621`| |||`Motor`
`vehicles`
`£`
`24,485`
`24,485`
`-`
`-`| ``` continued... ``` ``` Page 10 ``` ``` Furniturelink ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2025`** ## **`5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Other debtors`
`VAT`
**`6.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Other creditors`
`Accrued expenses`
**`7.`**
**`ACCRUALS AND DEFERRED INCOME`**
`Accruals and deferred income`
**`8.`**
**`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`**|`At 1.4.24`
`£`
`40,621`
`40,621`
`Incoming`
`resources`
`£`
`235,636`
`235,636`|`31.3.25`
`31.3.24`
`£`
`£`
`24,238`
`19,590`
`517`
`67`
`24,755`
`19,657`
`31.3.25`
`31.3.24`
`£`
`£`
`-`
`1,080`
`-`
`33`
`6,298`
`8,855`
`6,298`
`9,968`
`31.3.25`
`31.3.24`
`£`
`£`
`10,120`
`-`
`Net`
`movement`
`At`
`in funds`
`31.3.25`
`£`
`£`
`(8,126)`
`32,495`
`(8,126)`
`32,495`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(243,762)`
`(8,126)`
`(243,762)`
`(8,126)`| |---|---|---| ``` continued... ``` ``` Page 11 ``` ``` Furniturelink ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2025`** ## **`8. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |`At 1.4.23`
`£`
**`Unrestricted funds`**
`General fund`
`50,803`
**`TOTAL FUNDS`**
`50,803`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`General fund`
`236,741`
**`TOTAL FUNDS`**
`236,741`|`Net`
`movement`
`At`
`in funds`
`31.3.24`
`£`
`£`
`(10,182)`
`40,621`
`(10,182)`
`40,621`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(246,923)`
`(10,182)`
`(246,923)`
`(10,182)`| |---|---| ## **`9. RELATED PARTY DISCLOSURES`** ``` Therewerenorelatedpartytransactionsfortheyearended31March2025norfortheyearended31 March 2024. ``` ## **`10. INDEPENDENT EXAMINER'S REMUNERATION`** ||`2025`|`2024`| |---|---|---| ||`£`|`£`| |`Independent Examiner's remuneration`|`1,000`|`1,000`| |||| ``` Page 12 ``` ``` Furniturelink ``` |**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations`
`Gift aid`
**`Charitable activities`**
`Sales`
`Reuse credits`
`Gift aid on sales`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Charitable activities`**
`Wages`
`Insurance`
`Utilities`
`Telephone`
`Postage and stationery`
`Sundries`
`Rent`
`Equipment`
`Travel and subsistence`
`Motor expenses`
`Sub contractors`
`Materials`
`Service charge`
`Training`
`Advertising and marketing`
`Subscriptions and memberships`
`Finance charges`
`Bad debts`|**`Detailed Statement of Financial Activities`**
**`for the Year Ended 31 March 2025`**
`31.3.25`
`31.3.24`
`£`
`£`
`1,219`
`664`
`8,348`
`7,761`
`9,567`
`8,425`
`208,638`
`210,937`
`3,160`
`2,880`
`14,271`
`14,499`
`226,069`
`228,316`
`235,636`
`236,741`
`182,701`
`178,730`
`1,959`
`1,960`
`4,324`
`9,761`
`1,283`
`1,395`
`99`
`1,279`
`3,357`
`730`
`22,003`
`22,003`
`1,932`
`4,649`
`4,436`
`721`
`8,457`
`9,737`
`17`
`225`
`3,827`
`4,266`
`1,402`
`1,400`
`66`
`289`
`467`
`551`
`4,185`
`2,194`
`2,247`
`5,398`
`-`
`455`
`242,762`
`245,743`|**`Detailed Statement of Financial Activities`**
**`for the Year Ended 31 March 2025`**
`31.3.25`
`31.3.24`
`£`
`£`
`1,219`
`664`
`8,348`
`7,761`
`9,567`
`8,425`
`208,638`
`210,937`
`3,160`
`2,880`
`14,271`
`14,499`
`226,069`
`228,316`
`235,636`
`236,741`
`182,701`
`178,730`
`1,959`
`1,960`
`4,324`
`9,761`
`1,283`
`1,395`
`99`
`1,279`
`3,357`
`730`
`22,003`
`22,003`
`1,932`
`4,649`
`4,436`
`721`
`8,457`
`9,737`
`17`
`225`
`3,827`
`4,266`
`1,402`
`1,400`
`66`
`289`
`467`
`551`
`4,185`
`2,194`
`2,247`
`5,398`
`-`
`455`
`242,762`
`245,743`| |---|---|---| |||| |||`8,425`
`210,937`
`2,880`
`14,499`| |||`228,316`| |||`236,741`
`178,730`
`1,960`
`9,761`
`1,395`
`1,279`
`730`
`22,003`
`4,649`
`721`
`9,737`
`225`
`4,266`
`1,400`
`289`
`551`
`2,194`
`5,398`
`455`| |||`245,743`| ## **`Support costs`** ``` This page does not form part of the statutory financial statements ``` ``` Page 13 ``` ``` Furniturelink ``` ## **`Detailed Statement of Financial Activities for the Year Ended 31 March 2025`** ||`31.3.25`|`31.3.24`| |---|---|---| ||`£`|`£`| |**`Support costs`**||| |**`Governance costs`**||| |`Accountancy fees`|`1,000`|`1,180`| |`Total resources expended`|`243,762`|`246,923`| |**`Net expenditure`**|`(8,126)`|`(10,182)`| ``` This page does not form part of the statutory financial statements ``` ``` Page 14 ```