REGISTERED COTrJPANY NUMI BER.. 07461323 {EnglAnd and Wi)IL'5) REGISTERED CHAIIETY NUfvIBER: 1140541 REPOR'I. OFTHE I'IIUSTEI ES AND UNAUDII'ED b Ih'ANCIAL STATEINICNTS FOR THE YEAR EINDED 31 IVtAY 2025 OR BAIONET REI USI CEI.Ni I'RE LlTrI 11l'ED Clgi y Raliiage D?¢ ]ll & Co Liniiie(I Cliarl'cd Accoiinlartts Suiie D, The Buginc$5 Cenlrc FrIngdOn Avenue RoinFord Essex RM3 SEN
BAiINET REUSE Cfl NTiiE LIMITED CONTENTS or THE FINAINCIAL STATEMENTS FOR THE YEAR ELNDED 31 MAY 2025 PO#e Report of the Tru5tee5 Independent Examiner's Report Slaternent of Flnllnci41 Activitles B Y41ance Sheet 10 lo 11 Notes to the Financi&l Statements 12 to .21
BARNLT REUSE CENTRE LIMITEI D REI PORT OF TFIE fRUSTEI ES FOR THE YEIAR EINDED 31 MAY 2025 Thc tjiistees ivlio al'e 81$0 diTectors of the charity toi. the purpo%eq ot the Coinpanics Act 2006, present Iheir I'cpui't with tl)e finAncial 51ai¢inents of Ihc ch£l1'ily foi. IIIC yciir cndcd 3 I May 2025. Thc triislccs havo adoptcd the provisiDLiS of Accoiinting and ftcpoilitlb by Chciritle5'. Slaleiiiellt of Rccomineiided Pi'actice applicablc 10 chai'ilies preparing their accounts in accordaiice witli Ihc FinLincilll A¢poriin8 Siandaid applic3blE in Ilie UK and Republic ol. Ireland IFRS 1021 lefie¢iiv¢ l J)iiuai'y 201()I. OBJLC'I'IVES AND ACTIVITIES PollclL'5 objccllvL5 The objects ot Ilie Ll)arily al'e.. The rclief, either generally or indivsdually, of per.%ons who are need. hardship or dislrcss. Thc o(Ivllnccmcnl of cdiicl4 ¢ion, Yocalion21 I troiiiints or retninin(T attd 11)e pi'ovision of ivork ¢.xpericnce pariiciilarly among iiiicmploycd people gr peoi)Ic with spccilll n¢¢ds in oi'dcr to cnlittncc thcir pi'ospects of cinployiiienl, inclepciidciiLc i< nd qLiality ol lile. 'riie piolectloh and pi'e5ei'vlltion ofthe enviionineni lor tlie ptiblio beiiefit by: (al Tlie i)roin¢ktiotL ol- Ivasle i'ediiction, re-I15e, reclainalioii, IE¢ycling, iise ol. reLy¢led Pl'oducls, Ib) king in coiiiiniinity and natTrollal scl)enie.% and projcct5 for recycliiig and rtusirig mlite¢id15, coniponen15 I'esoiirces. The TTllStces likve i'eFtrred to the giiidAn¢e containcd in Ihc Clinriiy C(Iinniigsion's geneiul guiilaiicc on public bciicfil wlicii Irvicwin&T the Lhni'ity's aiins ¢incl objcctive.s lind iii plaiining il% lutiiic aciivilics. Ill P<irliciilar. Ilic Ti'lisiees considei. lioiv plai)nc<l activities ivill contribiile lo the &iins anil objeclivcs Ihcy liAve set. The tni8tees have revieivcd il)¢ appliLation of tlie Chcll'ily Governance Codc, wliich wus iniroduced in July 2017 ifi .%0 faE' a.% Ll Is applicablc lo Il)e ehai'ity. The liii%lees ttlrcic Ily upply iii'e1c % of the codc wiihin the govci'nuncc arrangcm¢iil£ of Ilic charity èind arc rcvicwinby lioiv olliei. clciiiciils of Ili¢ Lodc cali be fjppliLd b. ActivitiLS for Achlevln% Objectiies Tlie cbai'ily provides OUT volunt¢crs wilh WOL'k eKperienLe in a rcal business envii'ontLient. They are encuiii'Jg¢d io leari) sales skills dealing with cuslonieiE til ce lo Yace 8n(l on Ihc iÈIEphonc. Trllinocs lear biiek-oftice-ldhiiinistralion skills, sales and DIY. The cli£irity i'ceeives funiiliii'e fi'oii) vaiieiy ol- soui'LCS. Tlic gciici'nl piiblic Ilonalc all vf the fiiynitiiie tlie chai'iiy receives. A hi&)h pi-opoi-iion ol. this fiiniitui'e ivould lloi'inally end lip li) landfill, biit in%read ilie cliai'ily eiiableg it to be rtiiscd, c. VoluntCLsrs Thc churi¢y is very sri11¢ful lo all the voliiiiieer5 who ttr¢ involv¢d in all p.spc¢ts of th¢ s¢1'viee provision. VolEinleers liavc played a key i'ole irt cniibling the choi'ily to operatc cost clyeciively aiid deliver a liigh quality service to ciistomers. In J'eluiii, voluiileei's rtceive LFood qualily ivork experience and training. Diirinn the yedl, 9 Yolunteers benefited froin tt'aining and work exp¢ri¢nc¢.
BARNET REUSE CENTRL LIMITED REPORT OF TH TRUSTEES FOR THE Yli JIR EINDED 31 MAY 2025 ACHIEVEIVIENTS AND PERFORMAh'CE . Re0 of A¢tivitie5 Now in ils fourteentb year, the charity has coutiJ]ued ¢0 SuccessIlY operdle from its Centre iiiFriern BarnÈt, The INstees are very pleased with the impact Barnel Furnitur¢ Centre has made in tlie conununity, especially in environn)ental terms and in helping people in need. A signifi¢8nt proportioii of bam¢t Furnxiur¢ Cenlr¢'s business is with organisations and private residents in Bamet and neighbouring boroughs. Over the past year we have continued to support families who hav¢ been refenrd to U5 by lo1 auihoTlties and otheL agencies across 10081 boroughs SLIGh as Haringey. Enfield, Camden, Islinglon and HertfardshiTe boioughs. Barnet FurniNre Centrc s door5 ate open'to everyoue. Hoiyever, Ive do offer subslanlial diseounls on essenlial bous¢hold items lo fa]nilies and individua15.lvho ar¢"in r¢ceipt of benefits. Addition&llyi through the salès of highei'end donated stock means w¢ can offer free fuThiture p8ck&gc$ to those m05t in tt¢ed. Thes¢ custom¢r5 generally refeiyed to us by local authorities and other agencies. During the pst year (2024-2025) 1320 metnbers of the public ill financial n¢ed hav¢ beThefited from our discounted furnitur6 $¢heme. and wt have provided ovei. 21 Eaniilies with fre¢ furniture packages to th¢ value of £4.211. During the ph$t year 202412025 86 tonnes of reusablo furnire and appliances were collected, &nd 72 tonttes of reusable thmitiii'e weLe delivered. We CuentlY have a small, dedicated team of volunteer5 who bring diffeient skill.stts lo the business fro Dry and adrnin lo IT. VDlunteei's are a very valuable resource and pllly a vital role in enabling th¢ ¢harit.y lo conlinuc its great work. Barnet fiurniture Centre's long standing skilled Volunteers offers training and work expeiience to itsdividulls lo prep8r¢ them for the workptace. This also helps build their confidence by being a pai'l of & team. In the past yeu. 10 volunteors have b¢n?fitied fforn Ilieir tim¢ at the Cetttre. artd some have gont on to paid employment or into furthei. edcatIOn. The tru51¢cs (who are also directors of the charity for the purposes of the Companies Act) prc5e]It their u81 trepott together with the jJn3n¢ial stat¢my)ts of Barnet Reuse Centre Limited (the Chttrity) for the year ortded 31st May 2025. The trustees confinn that the ahnual report and financial'staiements of the charity comply wjth the current siatutoty requiremenls, the iequiretnenls of the charity's goveming dociimenl and the provi$ioJts of the Statement of Recommended PractlGe (SORP) applicable to chorities preparing thesr ac¢ounls in accordance with the Financial RepiTrilinB Standard applicable in the UK and Republic of Jreland (FRS 102) (effective 1st January 2015). Since the ch"8rity qiialifies as small uiider section 383, the strategic repoi'l rcquired of medium and large compani¢s iindeT The Companies Act 2006 (Straiegio Report and Director's Report) Regulations 2013 15 nol reqiiiyed. The charity tsade5 under the names Bn¢t Furnitute Centre arLd Bamet Reuse Centre Limited. Page 2
BABNET REUSE CENTRE LIMITED REPORT ofi THL TRUSTEES IOR THL YLI AR IINDED 31 IIIAY 2025 FIIYANCIAL REVIEW . RL&vleiv of the YL'AJ. Doniiiions of ILirniliLI'e hove provided the charity ivith ll sieady sli'eaiii of tradiiirt slock. Donations ot high qualily secon(I hand furniture have enabled Ilie cliarily to attract i)ieinbers of the piiblic lo thc wairhouse wlio arc nol in financial nced and ivho can affoid lo pay the hiftlier rnarkcl pi'iLe on fuiJ)ilure ilen)s. All proceed5 n¢llCl'iiled from furniture sales llre plou<Fhed back into tlie Cenli"e tu enable th¢ charity to help more ol those in Jieed. Totil iiicoinc foi. Ilje ycai. ivas £473,887 {2024 £456,124), Thc eliftrily's Iiading aetivities aild &rove1111i1eiil Ii'oni lun(ljntt ive received gciicratccl £241,4U4 12024 £240,888) of incoiiie ol- wliicli £219,169 12024 £222,065) Ivas donated stock. Tbe cliarity 5nciirrcd cxpeddilure of £47a,715 {2024.. É457,8431 leadinE to a defjcit for the ycttr ot £4,828 12024 £1,719) Tlic cli4iriiy i'ai.ses fiiiids li'oin Ihc salc ol- lumilLire and don4liOnS ol. ILiiiiilurc frvin thc general piiblic. It ducs not i'iin Iicnoral fiindi'11 isiiig prouiL'aniii)e5 aiid $0 ilic tiii.4tccs do iiot bcliei'c that tlie Fundraising Code is applic&blc, b. IIL&LrvLs Polit J And Pla115 f¢)r thL Futiii-e The tl'lislecs coiisi'deL' thnl li 1% appropriate to Inaintain fi'ec reservcs ot- llpproxiin¢ltcly six inoiit]is vf vci'lieads. rice i'¢soi'vcs.It 31 May 2025 IVCL'e £233,255. The cliai'ily hag cash al lh¢ bank ol. £196,743 at 31 M)y 2025 and frce i'¢serves or £233,255 covering I I month% of expoiidilure bascd on ali L2verage overhead cost ot £21.50012024.. £20,UOOI per month. This is wiihin Ilic iai-g¢i sct by thc Irus(ccs. Tlie lonL-tCTm aim is lo Loi)liniic to build the frce irscrvcs ol. IIIE eharity lo Ilie largcl 5¢l. Page 3
BARNET REUSK CKNTIiEI LIMITED PORT OF THE TRUSTEKS FOR THE YEAR ENDED 31 fvlAY 2025 STRUCIURE, GOVERNANCE AND MANAGEI MENT Constltutlo The charity is regist¢red as a Charitable compony limited by guaralltee and wps set up by a Memorandtsm of Associati¢n on 6 Dw¢ibbei' 2010. The charity 15 constituted under & M¢inor8ndum of Association dated 6 December 2010 and is a Tegistered charity nillnber 1140541. b. The Dlreclor8 and Trustee5 The Direotorsrrrustees (Trf the COLnpaoy are also charity trustees for the ptsrposes of cbarity law aud UTLder the cotnpany's Artiol¢s of Association al'e known 25 M¢mber5 of the Marta(Temenl Committee. The Directors and Trustees who served during the yeai andlor up to the dale of the repor¢ were: Trevor Renoiif- appointed 21109121 . resigned.28101r25 FTan¢a O]iffe. appointed 13106124 Mike Sault- APPOlated 13106124 Rachit Thakk._ appointed 09112124 c. AppolntmtDt and Indvction of Trustees Undei. the requirements of the Memorandum and Arliclcs of.Assbciation oThe tliird of the truSlee5 musl retire eieh yenr. A I'etiring tI'Ltee may be reappointed. TNstees aiE s¢l¢¢l¢d on the basis of theii. relevant skills, experience and knowledge and th¢ active contributioii they Can mak¢ to the organisation. Potential new tnislees are iiivited to tour the pi'eniises dui'ing a woi'kiii8 day to s¢e Ihr Lhaiity in operation. They al'e also invited to attend ll board meet1to and familiarise teelveS will) the organis<ltion through iE3diug relevant documentation and talking with the Gen¢ral Manager or tbe Chair of the Trustèes. d. organi$tIonl Slrueture The charity is organised 50 th4t the trustees meet at least four tlmes a year to manage ils affairs. A (Teneral manager is employed to manage th¢ day lo day workings with the aid of other employees responsible for the ivarehouse, &dJninistraiÈou and transporL e. Rlsk MAnagement The trusiees have examined tbe n)aioi' strbtegic, biisiness, and operktional risks which th¢ chArity foces and confirm that systems haye beeii established to enable i'egular reports to be produced so that tbe necessaiy steps can be token to Icssen those risks, Significant finaThcial risks require an updated stiate8ic plan that addresses the ¢hanging ¢nvironm61Lt that we are operating in. thc chaTity has recorded sinall deficit5 in both this und the previous financial yeai. and we need to diversify oui" fitTJdillg and actÈvitLCS to reverse this trend. The ongoing risk is inoreased AS we have yet to aoree on an aeceptable r¢nt during the ISe renewal ft¢gotialion. Proeeduies arc in pl&¢¢ to en$u¥e Collipliance with the health and 5aEety of staff, volimteers and 'visiroi's to the charity's ptcthises. The triistee$ Are aware of their Tesponsibllities io ensiire that the vulneLable pctsple that the charity works with aie"saf¢. Th¢ charjty has a fornial safeguarding policy and training is undefrtaken to ensiire the poli¢y is adhered to, P¢4
BA WYL"I' iiLI US£ CENTRE LTMI'A'LD RLI PORT OF TIIE TRUSTLKS FOR'I'IIL YEAR NDE4 D 31 MAY 2025 Llabillty insiirsjnce The cliai'ily piircha5es Irust¢c liability insiirance oil behalf ofthe Iru5te¢s lo protect them againsl claims that may aiise froln the pei'fornioncc of Ilieii chai'iiable dulics. RLI fERbNCL AND ADMLLN E.8TRATIVE DETAILS Rvgi5tL¥red Coinp1d nv number 07461323 IEiigl&nd and WiilLsl RL'gister¢d Ch.Irit)' niittibtr 1140541 Registered officL 4 Qiiccns Parade Close Fi'iei'n Bai-net London N113FY Trusteos M B Sauli lappointed 13.6 20241 Mrs P M Olifle (appointed 13.6.2024) R Tliakk¢i' lappoiiitcd 9.12.20241 T D Renoul'{rL'signed fjll.1.20251 coP..1nY SL&L'rLltiit')' Mrs B Casey IndepL'iident L YaminLII' Cli2y Rcltnfjge Daifin & Cu Lin)itcd Cliaittci'cd Accoiiiilant5 Suitc D, Tlic Biisiiiegs C'eiiiY¢ FnrinLdun Avenuc Ilomlord RM3 8EN Pag¢ 5
BARNET REUSE CENTRE LJMITED REPORT OF THE TRUSTEKS FOR THE YEI AR EEIDED 3J MAY 2025 STATEMENf OF TRUSTfi IS, RESPONSIBILITIEI S The trustees Iwho al'c 4150 dii'ectors of Bornet keiise CentiE Limited for the wrposes of coinpany law) are i¢spoii8ibl¢ for preparing the tiste¢s, i¢port and the financial slalements in accordance wjtli appli¢2bl¢ law arLd Unlted Klngdom Accounting Standards {Unlted Ktngdom Generally Accepted AoUnting Prd¢tice). Company law require% th¢ tsustees to preparF financial staternenLs for e4¢h fillancial year. Under ¢othpaThy law the tn1¢¢8 must not approve the financial slatÈmenls unlèss they are satisfied that they give a true aj fail, view of Ihe state of affairs of th¢ charitable ¢ompany and of the.Ancoming J'e30urces.and application of resouroes. including th¢ income and expenditure. of the ¢harifabl¢ company for that period. In pieparing these tiNancial slutemeiils, the trustees ait required lo.. o sèlect suitable aecoiinting policles and then apply diem tsonsistertdy.. o observ¢ Iberaeihods and prineiples of the Charities SORP.. o make JudmentS and accounting ¢stin]ates Éhat are ttasonable attdprudenl- o prep¢ the financial statements on the going wncern basis iinless it is inappropriate to presume ihat the ¢haritabl¢ company will continue in operatiots. The Irustees are responsible for kteping adeqiiate aeeounling re¢ords that are sufficient lo shDiV and explain the charitablè company's "trallsactlOLiS and disclos¢ reasonable acoura¢y al ftny the fLIiaILcÉal positjoD of the charitabl¢ company and enable them to ensure that the Iinancial statements comply with the Companies Act 2006. Tliey arp ulso responsible for s&reiardits the assets of the chantable oowpany aDd hence for takin(T reÈsollable steps for the prevetttion and detection of fraiid and other in'egulariiies. ApproY¢d by order of the. oard of tsustC¢5-on.24 February 2026 and signcd ou its behalf by: M B Sault- TNstee Page 6
INDEPE&rypN'r EXAIMINEI R'S REPOR'f TO THE TRUSTEES OF BARNET RLI USE CEN'I'RE LIMITED Inilei)endctLt examiner's I'eport tv Ilie tl'U5tecs of Bjtrnet Reuse Centi'e Limited {'the CnmpAny') J report lo tlie Charity Inisiees on my examinalion of the accoiinls of the Coinpany for Ihc year elided 31 May 2025. RLsporLsibllitiCS Xlnd b2sly of report As tl)¢ chai'ity's Iiustees of Il)e Company (and 0130 ils directoi's loi. Ilic purposes of coinpany law) yoii are i'e5ponsible tor Ilie pi'epai'alioii of tlie accounts In occordance with Ilie requii'ejnenls of Ilie Coinpanies Ael "20061'ihe 2006 Act'}. Having satisfied iDysell' Ihal the acco(Inls ol-tlie Coini)any are not rcquired to be audiied under Part 16 of the 2006 Acl and ¥Ji'e eligiblc for indepciidelll exaininaiion, I rcpoi'l in rcspecl of iiiy examinatioji of yoiir chlli-ity's occoiint5 carried oiit undcr Section 145 ofilie Clicirilics Act 2011 I'the 2011 Aci,). In carrying out ii)y examirtgktion I hav¢ followed the Dii"Lctiuns given by Ihc Chal'lty Con)mission under Section 145151 Ib) ol. tlie 201 l Act.
ELNDEPENDENT EXAML INZR'S REPORT TO THE TRUSTEES OF BARNILT REUSE CELYTRE LIMITII D Tndep¢ndeDt cxamffiner's statellyent Since your chariiy'5 gross income exceeded £250,000 your exaTnincr miist br a member of a listed body. I an ¢onFimi Ihat l am qiialified to und¢i1ake thc examination because l am a member of the Association of CharleiEd Certified A¢countaNts, which is one of the ligted bodies. I have completed my examintstion. I confirni that no lliattcrs have con to my attentiou in connection with the examirtation givinrp m¢ cause to believe.. acrountinty records We not kep¢ itt respcct of the Compat)y as r¢quLTed by Section 386 of the 2006 the a¢¢ouThts do not accord with tbose records., or the aceounts do not comply with the accounting reqiiiremen18 of Se¢tion 396 of the 2006 Act other than any qUITement that the &eeourAls gkve a tIe and fair view which is not a matter considered a$ part of an indcpendent examination. or thc accoun15 have not been prepared in a¢¢ordance ivith the methods and principlu of Ihe Siatemetst of.REcommended PItClice for ac¢ounling and reporting by chariti¢s (applicable lo charities preparing tlieir 8¢counls in accordan¢e with the Financial Reporting Standard applicable in the UK atld Republic of Ireland (FRS 102)). I have no collcems ond have come across no other matters ill connection with the extiminalion lo. which 8lletLIIoIi should be draw) in this rcporl iii o[der to enable a prthp. uiiderstanding of Ihe accounts to be reaehed. GLhw/irtL f Lomine Calhth7ne Purdy FCCA The Associition of Chartered Certified Atcounlants Clay Ratnage Daffin & Co Limited Chartered A¢countgllt3 Suite D, The Busin¢ss Ccntre Fartngdoii Aveniie Romford RM3 8EN 24 Fcbniary 2026 Page ¥
BARNE'f REUSL CENTRE LIII IITED STATEI MENf OTr FINALYCIAL ACTIVITIES roR THE YEAREYDED 31 MAY 2025 2025 UnTeslricled rLind 2024 Total runds Notes INCOML AND INDOWMEÈNTS fROI Doiialions Jiid lego¢ies 241,404 240,888 Oiher Irading aelivilies 232,483 215,236 TotAI 47J,887 456,124 LXI>EiiNDITUIIE ON Raisiiig tiinds 221.279 208,905 Cli24 J'lt21 ble atlivilies Chi1rilable activities 257,436 248,938 Totftl 478,715 457.843 NET INI COMEIIEXP£NDITUREI (4,828) 11,719) RECOINCILIATIOJY OF f¢UNDS Total liiiids bi'oiighi forward 238.083 239.802 TOI'AL fiUNDS CARiUED bORWARD 233.255 238.083 The notes fomi pai'l of these finan¢ial staiements Page 9
BARNET REUSE CENTRE LIMITED BALANC£ SHEET 31 IVAY 202S 2025 Total funds 2024 Total funds .Noies FIXED ASSETS Tangible assets 186 CURRENT ASSETS Stocks Debtors Cash at bankand in hand 30,410 14,503 196,743 13 10,628 211,457 241.656 254.605 CREDITORS Atllounts falling due within one y¢or 14 (8,5871 (16,824) NET CURREf4T ASSETS 233,069 237.781 TOTAL ASSKTS LESS CURRETr4T LIAIIILITIES 233,255 238,083 PIET ASSLI TS 233,255 238,083 FUNDS Unrestrieted funds 16 233,255 238,083 TOTAL FUNDS 233,255 238,083 The ¢h8ritabl¢ company is entitled to exemptjon fi'on) audit linder Section 477 of the Compahies A¢1 2006 for the yearended 31 May 2025. Tho membeTS hAve rtot required the company to nbtain an audit of its finanGiol ststemet)ts for the year endad 31 May 2025 in accordanee witb Section 476 of th¢ Companies Act 2006. Th& trustees £cl<noivlediye th¢ir r¢sponsibilities for (a) ensurimg that 11)e chaTltablc comp&ny k¢eps accounting i'¢cords that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial sl&teinents which give a true lld fair vieiv of the state of #ffairs of th¢ ¢haritabl¢ Gompany as at the eiid of each financial year and of itg sU]u* or deficit for eath financial year in accordance with the requirement$ of Sections 394 and 395 and wht¢h othen¥ise comply with the I'equirements of the Coinpanie5 A¢t 2006 I'elaling to flnancial statements, so far as applieable to the ¢hai'itable colpartY. The notes lorm part ofthe5e hnttncial staieinents Pkge 10 ¢Ofjliniied...
BABNET REI USE Yi TRE LIMI ITID BALANCf SHEET- continued 31 IMAY 2025 Tliese fingncial slat¢wcnls hav¢ beeii prepared in ilccordance wilh Ihe provisions applicable to Charitable ¢ompallie5 siibjett tro the sinall comi)anies regime. Tlie finaiicial slatcmenls ii'ci'c approved by the Board of TrLlStees and outhorised foi. issue oil 24 FebTliary 2026 #nd weie 5Agned on its bchalf by.. M B S41111t- Trustce Tlie notes form part of these financial sia*menls Page 11
BARNET REUSE CENTRLI LIMITED NOTES TO THE FINANCKAL STATEIVIENTS FOR THE YEAR ENDED 31 MAY 2025 ACtOUNTING POLICIES BITrSi5 ofprepArin¥ the fin8n¢i&l statements The fiiiancial statements of the charitable ¢onipany, wljich 1$ 8 public benefit entity under FRS 102, have bcen prcpllred in accordance with the Cbarities SOF {FRS 102) 'Accouutintr and Reporting by CharitiÈs.' Statement ot. Recou]m¢uded PraGiioe gpplicable to chariiAes preparing their accounts in accordance with the Financial Reporting Staudard Applicable in th¢ UK and Republic of Ireland (FRS 102) (effecttve l January 2019),. Finaheial Reporting Standard 102 The Financial Reporting Standard llppli¢Able ill tlie UK and R¢public of Ireland, and the Companies A¢t 2006. The financial statements have been piepar¢d undei- the hi5toric81 eost ¢onv¢ntion. rncome All incominry resources are included.in Ilie statement of finan¢ial activities wheh the charity is legally entstled lo the income And (lie amount can be quantified with reSLsonabl¢ accuracy. The following specifi policies are applicd to parti¢ular categories of income.. Gifts donated for r¢$ale are included at valuation and recogttis¢d as income when they 'e sold. Donated facilitje5 ar¢ included at the value to the Charity where this call be quantified and a ¢Ird party is bearing the cost. Nu atnounts are included the fJnan¢ial statements for services donated byvolunteers. DonAt¢d services or facililies. wl)ich comprise donated serviees, are incliid¢d in income At 8 valuation whi¢h Is an ¢slimate of the finaneiJl cost bome by the donor where such a cost is qiiantifiable ond m¢asurable. Where incbrne is Teceived in advance of a specified service, Lt is deferred until the obarity 15 entitled to that iThcome. Investmet>t incom¢ is included on an aceniab basis. Jncominu Tesources from charitable tTading activities are aecounted foi. when ean)etl, and aiE stated net of Expendlture Liabilities are recognised a5 expenditure as soon gs th¢ie is a legal oi. constructive oblillalion" COnllniltin(T the chai'ity to that expenditLLre, it 15 pj'obable that a transfer of economic bettefLls will be required in settl¢m¢nt and the ailloullt of tlie oblig81ion ¢an be measured reliably. Expenditure is accounted for on all aocTuals basis and has b¢en classified under h¢adinss that aggregate all eost 'related to the category. Where costs callllot be directly attributed to parti¢ular headings they hav beett alloeated to aotivities on a ba$18 congistent will) thè use of i'esources, T&ng"ible fjxed ¥ssets Depreciation is provided at the folloiviDg annivdl rat¢s iu order to ivrite off each asset OVeA' its estimated Useful life. FixtULes and fittitTrg5. 20/0 on Cost Pag¢ 12 eontiThiied...
BARNET REUSE CENTRE LIMITED NOTES TO THEI IflNANCIAL STATXL¥IEh'TS - contlnuL,d FOR THE YEIAR ENDEID 31 fvIAY 202$ ACCOUNTING I>OLIL'IES- continue I'allgiblL fixed Rssets Motor v¢lii¢les CoinpuleI' eqlLiptL1I 25 % uii cost 330/0 on cosi Slock$ Sioclcs aye valued at ihe loiver gf cost and nct r¢alisable value, aftcr rn%lkillg due alloivancc lor obsolete and slow Inoving items. Thc chai'ily 15 CKeiMpt fi'ojn c(Trrporation tax on 115 cK2ritable aciivilies. Fund ACCOUIltiMg Uiireslrieted lunds can b¢ iised in accordanec with tlie ¢horilable objective.s at the discretion of Ihe ti'uslees. Rcslri¢tcd funds can only bc iiscd For pllrlicular restrictcd PLifp05es ivitliin Ihc objecis of Il)e chllrity. Rc%lri¢tiong <2risc when spceilled by tlic donor oi. whcii fiinds al-e rc1i5cd lor partiGiilai' restricted purpos¢s. Further c.xplanation of the naiLifC aiid purpose of each fund is inclLided in tlie notes tts Ihc fin2ncial s¢atcmeJils. l.Ili'e PLlI'ch•15L Ind ILli Sinu commitincnls Ilenla15 paid uiid¢r opei'ating Icases ui'e cht1r(red to tho Stotemeiit of Fiiiai)¢ial Aclivities oil a str&iEhl linc basis over tlic period Df thc leas¢. Pension costs aiid oihlbr post-rLtlrÈment bLnefits Thc ch11 ritable eoRIpttiiy opci'1i les a defined ¢onli'ibiiEion pension 8¢heme. Conli'ibutlons payable to tlie charitable coinpJny's pcnsion schcnic urc chai'ged to Ihc Statct])eiil of F-in41ncial ALtivitie5 Ill tlit pÈi'iod io ivliicli they I'elatc. iiJ]an£Èal insti'umcnt5 The company has elected lo apply Ilie provisions of S¢¢lioll I I 'Basi¢ Fillancial Instriimeiits, ot FRS 102 10 all of its tinunciul inslrumenls. bini?ncial instttiinenl% nit rccognised in th¢ compa11S Balancc shcet ivlicii the company. be¢oin¢5 pariy to tlie conti'aciual pi'ovi5ions of the instriimeiit. FiiiAnGitLI ass¢15 and liabiliiies ore-oflsct. willi Ilic nei an)oiinls pres¢nled in the fingnciul siatemenls, when thei'e is a Icgally entorceable right to S¢t olTthe recogt)ised amoun15 and there is an intention to seÉile on a nel basi5 or lo r¢alise tlie assei and settle Ihe liability simultaneously. Basie linancidl assets. ivliich include trade and other debto¥s, cash and bank balances. atc inilially ieasui'ed at Iheii. iransaction prsce (a(ljitsted foT tFPllSQ¢tion ¢osts except iii tlie initial nicasureinettt of rinaiicial 5sels (hal al'e siibsequently mcoslired Gil fair value tlirougli profit and loss) aiid air siibseqiieiitly eaii'ied &( tlicir amortised cost Usin the effective iniei'est method, less any provision for impairinent. Iinless the arrengtnienl constitirtes a financing tiansaction. wheie the transaction is measuied at the piestnt value of thc fuliire re¢eip15 discounted at a market rate ofint¢re5t. Page 13 continiled...
BARNLT REiISE CENTRE LIMrrED NOTLI S TO THE FINANCIAL STATEMENTS- continued FOR THE YELAR CNDIID 31 MAY 2025 ACCOUNTING POLICIES- eonttnved FlnaTrciol instruments DiscourttiILg 15 omitted wheye the effect of discounting is immaterial, The compan)Ps Cash and cash equivalents, trade and most other debtors due with thc op¢ratints cycle f411 into tJiiÈ eate(rory of firtth¢ial instNni¢nts, Clussification of finan¢ial liabilities.. Financial liabilities wid equity instnunenls ire elassified ftccording to the Substance of the eontractyal ai'k8ngem¢nls enteTed into. An equity instwment IS 8TIy ¢ontra¢t Ihul evidences a residual inkei'est in te assets of the company aftei. the deduelion of &ll its liabilities. Basic financial liabilities, which include ttid¢ and other cleditors. bank loans and other loans are ittltially rntasured at their transaction price (adjusting for Irausaction Costs excepl ill the Initial measiirement of fiTkancial liabiltties that are subsequently measurcd at fail. v8lLie through profit and loss). When this constitutes a financing liansactiott, wh¢reby the debt in5trumettt is m¢Asured at the pre5¢nl Yalue of the future payments discounted at & mark¢t rate of interest, discountills is omitted where the effect of discouuting 1$ immaterial. D¢bt IDSttutnenls are subsequently carrted at their amortisEd Qost using the effective inierest rate metbod. Trade creditors are obligation5 to pay foi. goods and services that have b¢¢n acquired the ordinary course of business fi'om suppli¢rs. Trade ci'editor5 are classified as CLirrent liabslities if the paytnent is due within one year. If not, they represent non-current liabililies. Trade creditor5 are iniiiAIIy re¢ogDiged at their Iransaction price attd subsequently are ]neasured at .amortised cost Usin th effectiv¢ inleregt method. Discounting is omitted where th.e effect of dtscounting is intinaterial.. CRITICAI ACCOUNTING ESTIMATES AND AREI AS OF JUDGEMENT Bstimates and jLid¢mien¢s gre ¢tintinuIY evAliiated and are based on hi51oTi¢al experience and other fa¢tor jncludjnu expectations of future evetS that believed to be Tetssottable uttder the ¢]rouDstartce8. Critical aeeollnttng estimates assumpljons: In the application of the oharity'$ ÈccountinrN policie3, which Are d¢s¢Tibed in note 2. the only key stimate inade by the tnist¢¢$ is The"valuation of donated stock: Donated stook is cktegoristd into furniture types then valued It matttgement's be51 estimate of th¢ estimated salc5 pi'ice". Page 14 continued.,.
BAIINET REUSE CENTRE LIiTrtlTED h'OT£I S TO THE fiyi ANCIAL STATEIENTs - continiied FOR THE YEAR ENDED 31 MAY 2025 DOINATIONI S ANI D LEGACIES 2025 2024 Doiialioiis DoJJoted stock 22.235 219,169 18,823 222,065 241,404 240,888 OTHER TRADING AC'fivITIES 2025 2024 Sales piiblic fiiimiture 232,4¥3 215,236 RAISIING I,"UNDS RAi51ng donsltions And ILgaelLIS 2025 2024 Expenditiire on riising volLiniary income 221,279 208,905 CklARII'ABLL AC'fivii'iE% COSTS Direct Costs Isc iioie 7) Charitable aclLVitLCS 257,436 Pnuc 15 oiitiniied...
BAIiNLT REUSE CENTRE LIMITED NOTEI S TO"YHE FINANCIAL STATEMENTS - contSnued FOR THE YEAR ENDED 31 MAY 2025 DIREcf COSTS OF CHARITABLE ACTIVITIES 2025 2024 Staff costs Equipment leasing Water rates lllsurallce Telephone Adveriising Sundries Rent and rates Extra storage Rubbish disposal Energy Mtttor expenses Travel aD4 enl¢rlainmcnt Office costs Volullleer exp¢ns¢s Accountancy and bookkeeping Repain ad renewals Cleaning and hygietLe S/Iine ch21.ges Subs¢iiptioA Training IT software Casual labour Depreeiation Loss on sale of 8sset5 179,971 170,213 225 (714) 5,948 1.074 (66} 439 45.956 1,500 586 2.546 7.603 447 4,223 605 7215 763 1,653 6.032 533 45,992 1,500 615 (3,443) 4,063 639 3,509 682 7,299 2,165 2,690 40 44 249 178 493 1.414 220 675 17.000} 116 257,436 248.938 NET INCOMEI{EXPENDITURE) Net ill¢omel(exptnditure) is stated after charging{crediting): 2025 2024 'Depre¢iation- owned 855¢ts Hire ofplanl and machinery Surplus on disposol of Èixed assets 116 675 225 (7,000) PAge 1.6 conliniied...
BARNET REUSE CENTRE LIIMITED NOTES I'O THC Flh'ANCJAL STATEI MEI Nfs- continued bOR'fHE YEAR ENDED 31 MAY 2025 TRUSTEES, REMUYiERATION' AND BELlFITS Their wei'e no Irusièes, r]llIn¢1'AllOlI or othei. bcncfils for the year cndcd 31 May 20?5 noi. for tli¢ yeAI ended 31 May 2024. Trustees, Lxpenses There wci'c no trii$tees' expcnses paid lor the year ¢nded 31 May 2025 iior for the yeai. ended 31 May 2024. 10. Sl'Af%F COSTS 2025 2024 Wages and salaries So¢ial security cosls Otliei pcnsitsn costs 165.83Z 9.653 4,486 157,878 8,062 4,273 179,971 170,213 The average nionthly iiun)bei' ol-employcc5 dLiiing the year ivas as follows.. 2025 2024 L.i))ployees No cJliploy¢e% rcccived elOIU1tllts iri excess of £60,000. 11. TANGIBLE FIXEI D EkSSETS IXILII Motor vcl)ielc5 CoinpLltei' quipinent rilting5 Totals cos'r At l Jiinc 2024 llnd Jl May 2025 26,290 S,889 DEPRECIATIOIN Al l Junc 2024 Charge lui. YeT 26,290 5,587 116 33,788 At 31 May 2025 26,290 5.703 33,904 'ET BOOK VALUE At 31 M¥Ly 2025 186 1¥6 At 31 May 2024 302 Pttge 17 coniinue(l...
BARNET REUSE CENTRE LIMITED NOTEI S TO THE fiNANCIAL STATEI D4tENTS- coThtlRued FOR THE YEI AR ENDED 31 MAY 2025 12. STOCKS 2025 2024 Siockg 30,410 32,520 13. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Trade debtors Other d¢btors VAT Prep.aymettts attdaccnied illcowe 4,354 1,668 1,825 1,369 190 7,244 8,481 14,5(fr3 10,628 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YJIAR 2025 2024 Trade ¢reditor5 Social security and other taxes 4.552 2,033 2,228 53 VAT Other creditors Accruals and deferTed income 1,365 8,874 2,581 16,824 15. LEASINGAGREEMENTS MihimurA least paymcnts under non4ancellable operating leases foll due os follows: 2925 2024 Within on¢ yettr Bettyeen one and five y¢ar8 24,510 42,000 24.510 24,S lo 66.510 The Tnlee5 believe the PTemises havè been i'epaired and rnaitttained in SLLffi¢iBJJt decorattve I)rd to meet the reouiremellts of lh¢ lease. Page 18 coiitlllLied...
BARNL ET REUSE TRE LIMITED NOTEI S TO THf FINANCIAL STATIMEN'TS - conllTrued FOR THE I'EARENDED 31 MAY 2025 16. hqOV£MENT INI FUINDS Nci movcrncni in flind5 At 1.6.24 31.5.25 Un2'estrlcted funds Gcneral fuiid 238,083 (4,8281 233,255 TOTAL FUNDS 2J8,083 (4.828) 233.255 Net inovEment in fiinds, IDcludcd in the above are as follows.. IncoIlling resoiirces liesoiirces expended Movcmcnt in funds Unrosti'ietL¥d funds Genei'al lund 473,887 1478,7151 14,828) TO'fAL FUINDS 473,887 1478.715} (4,828) ComparatlVL'5 for TlloyemeIit In fuijds Net moveincnl in l(Iiids At At 1.6.23 Unr¢s11'itted fundg General fund 239,8ts2 (1,719) 238,083 TOTAL FUNDS 239.802 (1,719) 238,083 Coinparalive i)et inovemcnl in Iiind%, inLliiil¢d in tl)c llbov¢ arc as tollows.. Ineoming rlsourees Resourccs eKpended Movement in funds Unr¥sti'Écted funds Geiici'al lund 456,124 1457,8431 {1,7191 TOTAL fi UNDS 456.124 1457,843) (1,7191 Pkg¢ 19 conlinLied...
BARNET REUSE CENTRE LIMITED NOTES TO THE FINANCIAL STATEfiiii NTS- continiied FOR THE YEAR ENDEI D 31 MAY 2025 16. MOVEMENT IN FUNDS- eontSnued A ¢urrent year 12 month5 and prior year 12 months ¢ombin¢d position 15 8$ lollow$'. Net movemeDt In fund5 At L.6,23 31.5.25 Unrestricted funds General fund 239,802 (6,547) 233,255 TOTAL FUNDS 239,802 (6,547) 233255 A Clent year 12 months and prior year 12 months ¢ombin¢d net mov¢m¢nt in fiinds, incliid¢d in the above.are as follows.. tncotning resour¢es kesouwes expended Movement Unr¢51ricted fund5 GenerAI fund 930,011 (936,558) (6,547) TOTAL FUNDS 93Q,01 I j936,55S) (6,547) 17. TrIPLOYEE BENEFIT OBLIGATIONS The charity operates a dEfined contributions pension s¢heme. The assets of the scheme are held sepatalcly.from those of the chaiity itL an ind¢pendenily administeLed fi2nd. The pension cost chatge represents oonti'ibutions payable by the charity to the fund and amount¢d to £4,486 (2024.. £4,273). 18. RELATED PARTY DISCLOSURES There w.ere no related party transactions for the'year ended 31 May 2025. 'Pag¢ 20 ontiniied..-
BARNET REUSE CINTRE LItfflTED L'OTES TO THC FIII'ANCIAL STA T£1 MENTS- eontlnued TrOR THE YEAR EINDED 31 MAY 2025 19. ULTIMATE CONfROLLING PARTY Thc Trustees Al'e the inimediale and iiliimate ¢onli'olling pllrty. Page21