Cambridge Re-use Charity No. 1139265 Company No. 07250173 Trustees. Report and Unaudited Accounts 31 March 2024
CambrldKe Rtruse Contents Pages Trustees, Annual Rewrt Independent Examiner's Report Statement of Financial Activities 2to9 io li Sumfflary Income and Expenditure Account 12 Balance Sheet 13 Notes to the Accounts 14to22 Page I
Cambridge R&vUse Trustees Annual Report The trustee5, who are also dlrettor5 of the charlty for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Conlpany No. 07250173 Charlty No. 1139265 Registered Offi Unit H The Paddocks 347 (herry Hinton Road Cambridge CBI 8DH Dlrectors and Trustees The Dirertors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: G. Cavander l.J. Mangles A. Noyes R.C. Perclval V. Porteous C. Putnam T.D. Tannenbaum J.G. Williams Accountants Day Accountants Quern House Mill Court Carnbridge CB22 5LD The Trustees are responsible for keeping proper accounting records that disc105e with rea50nable accuracy at any time thefinancial posrtion of the charity and to enable them to ensure thatthe financial Statements compty with the Companie5 Act 21x16. The Trustees are also responsible for safeguarding the assets of the charity and hence tsking reasonable steps for the prevention and detection of fraud and other irregularities. The above report ha5 been prepared in accordance with the provisions applicable to companie5 subject to the small companles regime as set out in Part 15 of the Companies Act 2006 and In accordance wlth the Charities SORP (FRS 1021. signed on behalf of the board Page 2
Cambridge Re•U5e TNstees Annual Report T.D. Tannenbaum Chair 31 March 2024 Page 3
Structure, Governance and Management The charitable company was fom)ed In 2010. taking over the activlties of Cambridge Sofa In Aprll 2011. (Cambridge Sofa was established as a charfty In 19881. The running of the charity 15 overseen by the Trustees, with day-to-day operations delegated to a manager and three other part-time salaried staff. Trustee meetings are held at least slx tlmes per year. The Trustees endeavour to appoint new trustees to retain a blend of backgrounds and business skills that will be of benefit to the charlty. Objective and Activities Cambridge Re-use is a registered charity. We offer low priced recycled furniture to everyone- but with especialty low Inot-for-profitl prices for those on low incomes. benefits. pensions and grants. The objectives of the charitable company are set out in the Articles of Association. namely.. To help people on low income5 or beneffts to buy furntture. whtte goods and other household items that they may not otherwise be able to afford. The benefit5 of a comfijrtable home are well documented: increased feeling5 of self-worth. increased optirni5rn. lowered stre55, less depression and anxiety. To enable everyone to buy and donate recycled furnlture and household good5 and 50 help u5 all save the planet and help those struggling financially. Purchases by and donation5 from the 8ener31 public enable us to provide signthcantly sub5idi5ed prices for those on benefit5 and low Income and to divert good5 from landfill. helplng save the planet. To provide volunteering opportunities that enable people to come together and work a5 a team and be part of a community that spans all ages, lifestyles and life experiences- all helping those in need and helping to save the planet. We creats a humane, circular economy that1$ 8ood for the planet and leaves no one behlnd. The charity operates from a leased warehouse in Cambrldge where collected goods are stored, electrical goods are tested for safety, and customers can purchase goods. It owns a vehicle for the collection of donations and delivery of purchases. Review ofthe Year'23-'24 In summary, while we have delivered as much good work as in previous years both for those on low income and the air we all breathe. our income was reduced substantially when compared to the previousyear. This wa5 mainly due to the loss of the vitsl role of fundraiserfor 6 months of the year and meant we had only £20.000 incoming funds in the year compared to the £84,CK)O in the previous year and smaller but 5ti11 positive amDunts in many previous years. Many thanks to Colin (Chebrelskil for all the funds he rased forthe charty. Note-. while the accounts reflectfunds corning in when thev are ceiVed in our bank account, It is often the case that we receive funds one year that are intended to support our work in the following year-typically we will receive grants between October and March forwork in thefollowing financial year beginning in April. 50, from another point of view, the loss of income in '23-'24 is in frdct a1055 of workable fund5 for the year 24-25. This Issue highlights the question, the subject of Trustee debate. a5 to the extent to which we allow our budget to be dependent on charitable funds (mainly grants from counci15 and grant making Trusts.) The previous years, grant income was £84K and sales income £102K. which is roughly 40% and 60%, respectively, of total Income. The Trustees believe our fundlng income should be budgeted at 30% of Page 4
budget m3ximum in order that we are not over-dependent on a source of income which can be very variable {when major crisis occur and charitable giving goes to food and medical supplies, for example.) Without this kind of fundlng we would not currently be viable. We do now have another active fundralser and are seeing healthy levels of charitsble fundlng corning in to help ourwork. But clearly. going forward, we need to try and addressthe gap between oursales figures and our costs. The Public Benefrt The followingtable describes the households and people on low incomes that we helped during'23-24 and how that CDmpared with the previous year5. Note that'21-22 was one of the years very much impacted by COVID and lockdowns- sub5eqiJent year5 le55 so but there is sttll a tail off from that negative effect. Due to the c05t-of-living crisis we know that several local agencie5 have had to prioritise assistance to low-income hou5ehold5 to buy food and heating over the last couple of year5. The figure5 below do not include member5 ofthe public not on low income. However, the deci5i0ns to enablethe publicto buy ha5 been a positive factor in our financing. We do plan to start collecting data about those cu5tomer5 in the future with the help of our new ITswlan | '21-'22 22-'23 443 52 Difl ?3- ?4 Households helped Benefidarfes (people in those households) Seff-referrnls *19Yo 559, 877 943 806 -14% 288 412 426, 133 +3%1 +14%1 +3% Agency referrals New members 155 114 -260A I 344, 407 +22Yo 419 Renewal members 119 +9¥. 140 +15% New members" as proportion of all Renewal members as proportion of all Members wholly on benefits 701 75% -3% -23Y.', 25% +8% 309 185 -40Y 227 +19% Household5 on work income only HDU5ehold5 on work income & benefits | Members who claim Council tsx relief 134 159 172, +8% 80 154 136, -12%, 1391 -30% 134, +13%, -12% 268 199 25Yo Members who claim PIPMLA * 18, 117 | + 561% 82 | ' Members who claim E5A 51 68 ' Members with disabilities 134 159 +19Y 228 +30% Members Those who proveto U5 they are on low income and to whom we Page S
issue a membership card Independence Payment Disabilty Living Allowance Employment Supplement Allowance pip DLA ESA The number of households and beneficiaries helped has not increased significantly when compared to the year before. We know there are two main factors in this: agencies having to give more of their time and funds to fuel and food through the cost-of-living crisis on the one hand and a dearth in our online advertising due to1055 of human resource for approx. seven months of the year. The inCaSe in member5 With disabilities is notable a5though we have no explanation for it. Sales to the general public who are not on low income are generalty about 30% of ourtotal sale5- about 2IX) non-low-income households were Served in the year, but this wa5 rising in the second half of the year a5 a sUIt of marketrng activities we carried out. Thss indicates that might increase this proportion in the future. Every penny spent by those not on low income5. who pay a higher price for our used furniture (currently about 40% morel, helps us keep the price low for those on low incomes and helps ensure we make enough funds to cover rent and other bu5ine55 expenses. Our model 15 a way to enable the community as a whole to help each other out and help the environment. Environmental impact Extrapolating from academic studie5 into our work, we estimate we recycled about 750 items132 tonne5 of furniture In '23 -'24. We reduce the Canibridge areas, carbon footprint by about 12 tonne5 every month (less carbon dioxldelequivalents being released intrj the atmosphe1. The effect 15 equivalent to planting g)0 trees a year in an area of the country wlth a very low number of trees. For more details https.'//www.cambridgereuse.org.uVimpactreport.pdf first published in 2019. Financial summary Apr'l8- Mar 19 Apr'l9- Mar 20 Apr '20- Mar21 Apr'21- Mar Z2 Apr'22 - Mar 23 ApriI'23- Mar 24 Grab 13,236 52,971 76,364 25,865 84,579 20,898 Sales 82,284 81,397 48.495 92,783 106.460 97.779 Grant income. Down hugely compared to the previous year due to1055 of fvndrai5ing resource for rn05t of the year. But note that much of the intome won in the ye3r'22-'23 was for use in the year 23-'24. From N¢)vember'23 we have new fundraising resource and expect a much higher income next financial year. Sales income. In earty 2022 we employed a rnarketing specialist part-time for 5 months in the year to try to Itft sales. As you can See this Succeeded with a 20% lift in sale5 vthen considering the whole year, circa 20K more than the previous year and almost £30K more than'18-19, the m05t recent pre-COVID year. We10st this resource but have reinstated it in November 2023 50 a5 With the grant income we expett to do better in temis of sales growth in the Trext financlal year. Another factor at play here may well be that our van collected and delivered 6 days a week {induding Saturday51 In previous year5 but from May'23 thi5 was i¥duLvd Lu 5. Page 6
Costs Costs Apr'l8- Mar 19 Apr'l9- Mar 20 Apr'20- Mar 21 Apr'21- Mar 22 Apr'22- Mar 23 Apr'23- Mar'24 Total 116,216 123.855 91,105 134,119 156,186 162,239 Costs rose by about 4% which as to be expected. Profit and Loss Income from sale5 alone in .23-24 would be £64.000 short of our costs. With the reduced grant income in the year. the1055 was £33,244. The vast majority of grarrts the charity receive5 are restricted funds for specffic aciivities and signthcant proportion are received in one financial year {often in the last quarterl for spending in the following fiFJancial year. SO much of the grant income received in the previou5 year, '22- ?3 was to support our activities in this'23-'24 financial year. When this is considered, the Ios5 in '23-'24 is actually only about £6K. But of course. it follows that the1055 of incoming grant funds in '2>,24 mean5 less nds availableto support our activlties durfng the year'24-'25. Bearing In mind that we lost dedicated marketinglfundraislng resource and associated actlvitbes ft)r much of the year In '23-'24 have re-instated these In as from November'24, we believe there Is reasonable hope that going forward we can continue to increase sales. Finally, we dld not increase prices for those on low income and it must be part of our strdtegy to keep profits as a second priority to this, our guiding purpose. OurTeam In addition tothe16 to 81 Trustees. between 10 and 20 volunteetssUPPOrted the charity during the year, w?th the average number at any one time being 15. The contribution of all of these volunteers remains Vital to the viability of the charlty. One volunteer, Colin Chrebelski. made an amazing contribution by winning5ignificant grdnt income for us for a nuriiber of years, helping en5urc ourvital finances as well as Inrjking after all of our PM)licies to ensure VR operate in an equitable manner. Colin retired in 2023. We thank him very much 3nd wish him all the best. Our long-time store manager Cara Moorey also left us in 2023 after 15 years of great work. Cara'5 dedicatton to the cause and long hours spent to ensure smooth running. werelare legendary. She was instrumental in the design of the Cambridge Local Assistance Scheme and one of the main partners rolling tt out, with CHS, helping reach thousand5 of families acr055 Cambridgeshire- even throughout the Covid lock downs- with essential funds and a55iStance. Page 7
We also lost Malcolm (Mitchell) our bookkeeper for 18 years giving us Sterling seNice like a rocl so we always knew exactly where we were wlth ourfinance5. He a150 went out of his way to ensu his good work was passed over and hls successor fully up to speed. We really appreciate the care he took. Thanks To ... As described above, the following gifts and grants made a significant contribution to making re-use happen in Cambridge in '23-24, helping those on low intomes make a comfortable home and helping save us als from increased methane emission5 from landfill sites and C02 emi55iDn from furniture manufacturing. Thank-you from Cambridge R&Use who feel well supported by your efforts. £iO.(KM) National Lottery Community Fund toward running the van that enables us to collect Used furniture from donor5 and deliver it to low-income familie5 Evelyn Trust another grant from a regular supporter to keep our work going South Carnbridgeshlre District Council toward out work helping make rhOrned people more comfortable Microsoft Research to help us use utFtD-date technology t0 save time efft)rt and be more efficient Pdjrton Reed. a local Cambridge busine55 to help us adopt technology South Cambridge Rotary Club. £5,OtKi £2,700 £1,500 £i,o £1,000 Referral Agency Support We continue to be very grateful for the 5UPPQrt of the many organi5ation5 that refer clients to U5, including: Cambridgeshire Loc31 Assistance Scheme ICLASI and its partner organtsation5 Cambridge Housing Society (CH5) Cambrldge Cty Council South Cambridgeshire District Council Cambridge County Council Cambridge Ald John Huntlngdon Charity Riverside ECHG Winter Comfort Cambridge Women's Ald Cambridge cYnianS On balance. a yearwe want and expectto improve on. Reserves Policy The trustees continue to monitor reserves each month to ensure that the charity 15 properly prepared to meet potential financial demands as an ongoing business. At the end of the financial year, unrestricted reserves stood at £112,743. With the likely cost of dilapidations OTr leaving the current premise5 and the c05t of replacing the cUrnt 11-year-old van. the Trustees assess that the serveS should be used as follow5. to allow for potential expenses in the future. Page 8
Restrlcted Funds £20,283 Designated reseyves lunrestrictedl £100,0 Dilapidations £55,000 Van Replacement £45,000 General reserves lunrestrictedl TOTAL £12.743 £134026 IThe van replacement figure quoted above refers to the purchase of a diesel van of the same Specification as the present one. Environmentallyi Gin electric van would be preferable. but this could C05t up to £25,000 rnore.) Should the Trustee5 ever take the decision to wind up the chartty for any reason, the dilapidation sum would still be payable, but not the cost of a replacement van. However. redundancy pay would be due to employees. Page 9
Cambrldgè Re-use Independent Examiners Report Independent Examiner's Report to the trustees of Cambridge Re-use I report to the charity trustees on my examination of the financial statements of Cambridge Re-U5e for the year ended 31 March 2024. Responsibllities and basls of pOrt As the charity's trustees Of the company land also its direttors forthe purposes of company lawl you are respor)sible for the preparation of the financial statefflents in accordan wrth the requirements of the Companie5 Act 20061'the 21X)6 Act. Having satisfied myself that the financial Statements of the Charity aro not required to be audited under Part 16 ofthe 2006Att and are eligible for independent examination, I report in respert of rny examination of vour charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out rny examination I have followed the Dirertions given by the Charity Comrni55ion under settion 145(5) {bl of the 2011 Att. Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe.. accounting records bvere not kept In accordance with settion 386 of the 2(M)6 Act . or the financial statements do not accord with those record5,' or the financial statements do not comply with the accountlng requirements under section 396 of the 2006 Act other than any requirement that the financial Statements give a 'true and falr, vlew whlch Is not a matterconsidered as part of an independent examination,. or the financial statements have not been prepared in accordance wlth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparlng their accounts in accordance with the Financial Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021. I have no conrnS and have come across no other matters in connection with the examination to whith attention should be drawn In this report In order to enable a proper understandlng of the financial statements to be reached. Ddy ALLuuiildiiL5 Quern House Mill Court Cambridge CB22 5LD 31 March 2024 Page 10
Cambridge Re-use ststement of Financial Artivities for the year ended 31 March 2024 Unrestrlcted Restricted funds funds Total funds Totsl funds 2024 2024 2024 2023 Notes Income and endowments from: Donations and legacies Charitable artiwties 10,137 3.602 97.779 181 10,137 20,898 97,779 181 6.484 84.579 106.460 32 17,296 Other trading activities Investments Total 111.699 17,296 128.995 197,555 Expen(rrture on: Raising fund5 Charitable attivities Other 8,138 8,138 7.914 151 io 98,896 55,205 154,101 148,121 Total 107,034 55,205 162,239 156,186 Netgain5 on investments Net (expenditure)/ineome Transfers between funds 569 569 li 5,234 {37,9091 132,6751 4L369 Net lexpenditure)/lncome before other galns/(losses) 5.234 (37,909) 132,675) 41,369 Other gains and losses Net movement in funds 5,234 (37.9091 132,6751 41,369 Reconciliation of funds: Total funds brought fonbvard 108,078 58,192 166.270 124,901 Total funds carried fonvard 113,312 20.283 133,595 166,270 Page 11
Cambridge Rfruse Summary Income and Expenditure Account for the year ended 31 March 2024 2024 2023 Income 128,814 197,523 Net gains on investments 569 Interest and investment income 181 32 Gr055 income for the year Expenditure 129,564 197.555 158,199 155.923 Depreciation and charges for impairment of fixed assets 4,040 263 Total expenditure for the year Net lexpenditure}Iincome before tax forthe year 162,239 156,186 {32,6751 41,369 Net (expendlture )lincome for the year {32,675} 41,369 Page 12
Cambridge R&Use Balance Sheet at 31 March 2024 Company No. 07250173 Notes 2024 2023 Flxed assets Tangible assets 13 9.750 9,750 791 791 Current assets Debtors 14 24.434 17,229 104.051 145,714 {21,8691 19.288 16.661 140.620 176,569 111,090) Investments 15 Cash at bank and in hand Creditors: Amount falling due within one year Net current a55ets 16 123.845 165,479 Total assets less current liabilities 133.595 166,270 Net a55ets excludlng pension a55et or liablllty 133,595 166.270 Total net assets 133,595 166,270 The funds of the charity Restrl¢ted funds Restritted income funds 17 20,283 20,283 58,192 58,192 Unrestricted funds General funds 17 112,743 108,078 112.743 108,078 Reserves Revaluation reserve 17 569 569 Totsl funds 133,595 166,270 These accounts have been prepared in accordance with the speaal provisions of Part 15 of the Companies Art 2(XJ6 relating to small companies. For the year ended 31 March 2024 the company was entitled to exemption under sertion 477 nf thp Companies Art 2(J)6 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 21M)6 with respett to accounting records and the preparation of accounts. Approved by the board on 31 Morch 2024 And signed on its behalf by: T.D. Tannenbaum Page 13
Cambridge Re-use Notes to the Accounts for the year ended 31 March 2024 l Accountlng policie5 Basls of preparation The financlal statements have been prepared in accordance with Acccuntir)g and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I January 20151 (Charities 50RP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the CompaniesAtt2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies Iwaluation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accountin8 Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objerts of the charity. These are unrestritted funds earmarked by the trustees for particular purposes. These are unrestrlrted funds whlch include a revaluation reserve representing the restatement of Investment assets at thelr market values. These are available for use subjett to restrictions imposed by the donor or through terms of an appeal. Deslgnated funds Revaluation funds Restrlcted funds Income Recognitlon of Income Income 15 included in the Statement of Flnanclal Activitie5 ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the Income can be measured with sufficient reliability. Income wlth related Where income has related expenditure the income and related expenditure is expendtture reported gross in the SOFA. Donatlons and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclainis Is included in the SOFA at the same tlme as the donation5 and gifts gift/donation to which it relates. Donated Services These are only induded in income (with an equivalent amount in expenditurel and facilities where the benefit to the Charity 15 reasonably quantifiable. rne35urable and materia5. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when reivable. Gains/{lossesl on Thi5 includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. a55ets Gains/(lossesl on Investment assets This includes any gain or loss on the sale of investments. Page 14
Cambridge Re-use Notes to the A¢Unts Expendlture Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expendlture to whlch it relates. Expenditure on These cornprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its attivities and charitable activities ServIS in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audiwindependent exafflination fees. Costs linked to the strategic man3gement of the Charity. together with a share of other administration c05t5. These are sUPPOrt costs not allocated to a partlcular artivity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable actlvltles. Tangible fmed assets and depreciation Depreciation is provided at the following annual rates in order to write off each a55et Lwer its estimated useful life.. Motor vehicles 25% Reduclng balance Office equipment 15% Straight line Freehold Investment property Investment properties are measured initially at cost and subsequently at fair value at each balan sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is induded at the lower of c05t or net alISable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors a recognised at the settlement arnount due after any trade discount offered. Prepayments are valued atthe amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquld 5nve5tments wlth original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown wlthin borrowlngs or current Ilabllltles. In the Statement of Cash Flows, cash and cash equlvalents are shown net ot bank overdratts that are repayable on demand and form an integral part of the company's cash mana8ement. Page 15
Carnbridge Re-use Notss to the Aonts Trade and other creditors Short term creditors are measured at the transattlon price. Other creditors and provisions are recognised where the charlty ha5 a present obligation resultlng from a past event that will probably result in the transfer of funds to 3 third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetsry assets and liabilities denorninated in currencies other than the functional currency of the charity are translated at the rate5 of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange dIfferen$ are are taken into account In arriving at net income1expendltu. Leased a55ets Where the tharity enter5 into a lease which entails taking substantially all the risks and reward5 of ownership of an asset, the lease is treated as a flnance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are das5ified as operating leases. Assets held under finance leases are initially recognlsed as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liabllity to the lessor is Included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remalning b31ance of the liability. Finance expenses are recognlsed immediately, unless they are directly attributable to qualifying assets, in which case they are capitsllsed In accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease inntiveS are received to enter into operating leases. such incentives are recognised as a liability- The aggregate benefit of incentive5 15 recognised as a reduction of rental expense on a straight~line ba5iS. Pension costs The charity operates a defined contribution plan for its employee5. A defined contribution plan 15 a pension plan under which the company pays fixed contributions into a separate entity. Once the contrlbutions have been paid the company has no further payments obligations. The contributions are recognised as expense5 when they fall due. Amounts not paid are shown in accruals in the balance sheet. The a55ets of the plan are held Separately from the company in independently administered funds. Reipt of donated g(1$. facilities and service5 All donated goods, facilities and servi$ received are recognised wlthin Incoming resource5 and expenditure at an estimate of the value to the charity. Page 16
Cambridge Re-use Notss to the Accounts 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. 3 Statement of Financlal Actlvltles - prior year Unrestricted funds Restrirted fun(15 Totsl funds 2023 2023 JJZ3 Income and endowments from: Donations and legacies Charitable activities 6.484 13,259 106,460 32 6,484 84,579 106,460 32 71.320 Other trading activities Investments Total 126.235 71.320 197,555 Expendlture on: Raising funds Charitable activities 7,914 151 7,914 151 Other 125,866 22,255 148,121 Total 133,931 22,255 156,186 Net income 17,6961 49,065 41.369 Net income before other galns/(losses) Other galns and losses: Net movernent In funds 17,6961 49,065 41,369 (7,6961 49,065 41,369 Reconciliatson of funds". Totsl funds brought forward Total fund5 carried forward 115,774 9,127 124,901 108,078 58,192 166,270 4 Income from donations and legacles Unrestricted Totsl Total ?o?a ?n74 10,137 10,137 10,137 10,137 6,484 5 Income from charitable activities Unrestricted Restrlcted Totsl Total 2024 2023 3,602 3,602 17,296 17,296 20,898 20,898 84,579 84.579 Page 17
Cambridge Re-use Notes to the Accounts 6 Income from other tradlng artivities Unrestrictsd Totsl Total 2024 2023 Sale of furniture and other household goods 97,779 97,779 106,460 97,779 97.779 106,460 7 Income from investments Unrestricted Total Total 2024 2023 181 181 32 181 181 32 8 Expenditure on raising fund5 Unrestrlcted Total Total 2024 2023 Costs of generating voluntary Income 8,138 8,138 8,138 8,138 7,914 7,914 9 Expendlture on tharitable activities Total Totsl 2024 2023 Governance costs 151 151 10 Other expenditure Unrestricted Restricted Totsl Total 2024 7n?.4 Employee costs Motor and travel costs 33,115 4,065 49,201 45,577 9,594 35 78.691 13,659 49,236 81.523 8.928 49,747 Premises costs Amortisation, deprectation, impairmenL profivloss on disP05al of fixed assets General administrative costs Legal 8nd profes3ioi)al costs 4,040 4,040 263 7,267 1,208 98.896 7.267 1,208 154,101 6,167 1.495 148,121 55,205 Page 18
Cambridge Re-U5e Note5 to the Accounts 11 Net (expenditurel/income before transfers 2024 2023 Thi5 IS stated after charging.. Depreciation of owned fixed assets 12 Staff costs 4,040 263 2024 2023 Salarie5 and wages Social security cost5 Pension costs 59.855 6.636 67,409 3,647 67,480 71,056 No employee received emolurnents in excess of £60.000. The average monthly number of full time equivalent employees during the year was a5 follows- 2024 Number 2023 Number 13 Tangible fixed a55ets Motor vehicles Office equipment Total Cost or revaluation At l Aprll 2023 Additions At 31 March 2024 Depreeiation and Impalrment At l April 2023 Depreciation charge for the year At 31 March 2024 24,949 13,IXI) 37,949 1,137 26,086 13,0(K) 39,086 1,137 24,159 1,137 25,296 4,040 28.199 1,137 29,336 Net book values At 31 Marrh 2Q24 At 31 March 2023 9,75n 790 790 14 Debtor5 2023 Trade debtors VAT recoverable Prepayments and accrued income 10,987 151 13.452 24,434 9,709 1,119 8,460 19.288 Page 19
Cambridge Re-use Notss to the Accounts 15 Current asset hwestmeftts 2024 2023 Unltsted investments 17,229 17,229 16,661 16,661 16 thditors: amounts falllng due withln one year 2024 2023 Trade credttors Other creditor5 Accruals 18,670 176 6,590 1.874 2,626 11,090 3,023 21,869 Page 20
Cambrfdge Re-use Notes to the Accounts 17 Movement in funds Incomlng resources At31 {including other At l April gaInl05seS 2023 Resources expended March 2024 Restricted funds: Restrlcted income funds: Evelyn Trust Alan Boswell Group National Lottery- Driver Cambridge Crty CEV National Lottery- Van Nationwide 5.567 8.139 (5.5671 18,1391 10,296 7,(h)O 10.296 5,406 1,619 29,600 4.708 3.153 (12.4061 {1.619) 127,4741 2,126 4,708 3,153 CCF- Innocultivation ARM via CCF Total 58,192 17,296 155,2051 20,283 Unrestrlcted funds: General funds 108.078 111,699 1107.0341 112,743 Revaluation Reserves.. Revaluation fund 569 569 Total revaluation reseNes 569 569 Total funds 166.270 129,564 f162,2391 133,595 Purposes and restrittions in relation to the funds: Revaluation reserves Represent the amount by which investments exceed their historical cosL Re5tritted funds: Evelyn Trust Ajan B05well Group National Lottery- Driver Cambridge City CEV National Lottery- Van Nationwide CCF - Innocultivation ARM vla CCF Page 21
Cambridge RUse Notes to the Accounts 18 Analysls of net assets between fL4ftds Unrestricted funds Total Fixed assets Net current assets 9,750 123,845 133,59S 9,750 123,845 133,595 19 Reconaliation of net debt At31 At l April 2023 March Cash flows 2024 Cash and cash equivalent5 140,620 14Q,620 136,569) 136,569} 104,051 104,051 Netdebt 140,620 136.569) 104,051 20 Commitments Operating lease commitments Annual commitment5 under non-cancellable operating leases are a5 follow5.. 2024 Land and bulldlngs 2024 2023 Land and bulldlngs 2023 Other Other Operating leases with expiry date: Pension commltments 2024 2023 The pension cost charge to the company amounted to: 989 21 Related party disclosures Controlllng purty The eompany is liniited by guaraiilgè diid I Id5 1 iu slidle Ldyildl. Ll ius I Iv sii i¥le Vdt Ly LUI ILiu15 Ili¥ WIllVdliy. Page 22