REGISTERED COMPAW NUMBER: 07488966 IEngland and Walesl REGIS7EREDCHARrrY NUMBER: 1142020 REPORT OF THETRUSTEES AND UNAUDITED FINANaALSfATEMEN7S FOR THE YEAR ENDED 31 DECEMBER 2025 FOR STOREROOM ZOIO Bright Brown knmited Chartered Acmuntsnts Exthange House St. Cross Lane Newport Isle of Wight P030 5BZ
SIOREROOM 201D CONTENTS OF THE FINANCIALSTATEMENTS FOR TrtE YEAR ENDED 31 DECEMBER 2025 Page Referènee and AdmÉnl5trave Details Report of the Trustees Independent Examiner's Report Statement of Flnancial Atlivities Balance Sheet 10 to 11 Notesto the Finandal Statements 12 to 24 Detailed Ststement of financlal Actlvlties 25 to 26
STOREROOM 2010 REFERENCEAND ADMINISTRATIVE DAlL5 FOR THE YEAR ENDED 31 DECEMBER 2025 TRUSTEES TC Day Direttor B M A S Rotjse Director R Gully Director P Noctor Dirèttor MrsT Day DIor Mrs E M Mackenzie Director Mrs W Miller Director lèppointed 24A.251 REGlSfERED OFFICE l Mariners Way Isle of Wight P0318PD REGIrnED COMPANY NUMBER 07488966 (England and Wal) REGISTERED CHARITY NUMBER 1142010 INDEPENDENf EXAMINER Bright Brown knmited Chartered Accovntants Eychange House st. Cross L8ne Newport Isle of Wight P030 5BZ Page I
STOREROOM 2010 IREGISTERED NUMBER.. 074889661 REPORT OF ThE TRUSTEES FOR ThE YEAR ENDED31 DECEMBER2025 The trustees who are also directors ol the charity for the purposes of the Companies Att 2(X)6, present thelr repcrt with the financial statements of the £harity for the year @nded 31 December 20. The trustees have adopted the provisions of Accounting and Reporting by Charitie5.' Statement of Recommended Practice applitable to charSties preparing thelr accounts in accordan with the Financial Reporin8 Stsndèrd appllcable the UK and Republic of Ireland IFRS IOZI leflective l January 20191. OBJEcnvES AND ACTIVITIES Objectlve5 and aims The principal objects are.. - the prevention and relief of poverty by supplyln8 donated fumiture and household goods at minimal cost to people in need; the protection and preservation of the enwronrnent by encouraging re-use/re¢yding ol donated furnlture and hou$2hold goods., the relief of unernployment for the beneftt of the public In such way5 as may be thought fit includlng the provi5ton of tr3lning, enploymenL work eKpErience and volunteering opportunities.. and to ¢ncoura8e re-use as a way ol life. Public benefli StoreroDm2010 is a true comrnunty asset Through the dedication and perseverance of its stèf¥, volunteers, and management over the past fifteen years, it hÈ5 become a trusted and reliable destination for people on low Incomes seeking to improve their home IMD8 Standards withDUt falling into or compoundin8 debt. During 2Q25, demand for t>ur services increased. with a rise in ferra15 from Island 5UPPOrt a8enaes and housing a*oci3b'ons. We were plE£d to be able to Spond prornpt and provide atance when It was rnost needed, The continuing cost-ol-living crisis has hit many in our 15Jand ci)mrnunity hard. and the people we supportEd were deoply appreoative of the help they recesved. We work in partnership with three of the 151and's major housing associations and hold a dedicated fund to SLlPPOrt their most vulnerable cllents. This allows u5 to SpOnd quickly in times of cr15is by provlding essential hovsehold item5 when they are needed mom. This ¢ollaborative approach has proven hffi8hly Èffective and has enabled u5 to help hundreds of farnilies a£ros5 the151and More than 60 1s13nd advice and support agencies now work with StorEFoDm2010 as their primary referral partTher for clients needing to improve their home Irving condrcions. Many ol these clients experience phy51tal andlor mental impairmenL barriers to ernploymenL or complex personal circurnstances Including abuse and relatlDnshSp breakdown. In recent cases, these i55ue5 h?ve frequendy been compounded by financial hardship and the lon8er-term impacts of the Covld pandemic Volunteers On a positive notE, there are always trpportuniti for volunteers at StDreroom2010, and support is needed across a wide range of activities. We have found that volunteerin8 helps people regain confidence and self-worth, and for our community-5pirited clients it also provide5 an opportunity to gpie sgmeihins back. In 2025 our Voluntee gave u5 3,518 hour5 01 theirtirnel WOWI They realty are amazing. Everyone at Storeroom2010 is extremely proud of what ha5 been achleved Sin we first opened our doors. and we are very aware that without our volunteers we would not be whEre we are ioday. Our woluntoer te3m carries Dut a wide ranse ol roles, including assisting In the shop and warehouse and supporting our drivers with collections and deliveries. For those seeking employmenL volunteering with u5 provides valuable experien, and we are always ke2n to SUPPOrt them towards thatgoal by offering help with Cvs and, where appropriate. providin8 references. Page 2
STOREROOM 2010 (REGISTERED NUMBER: 07488966} REPORTOFTHETRUStEES FOR THE YEAR ENDED 310ECEMBER 202S OBJEcfivES AND ACTivmES VolunteÈts- continued The Board of Trustees extends its sincer& thanks to our Entire volunteer team, wthout whose hard work and tire1È%5 support5torero¢m2010 would have struggled to provide such a vitd level ol service lo our community. ACbllEVEMENT5 AND PERFORMANCE Past achievÈments and the effect Qf Covld-19 Since Storeroom2010'5 beginnings at Bridge Road in Cowes back in, yes you guessed it. 2010, we hzve adopted a slightly dTfferent approach to rnany other charities,. brought about in part due to lessons learnt prior to 2010 when the StOrOOr Project las St wa5 called when part of Real World Trust), relied solely upon grant funding to operate. Thi% reated uncertainty as to the sustainable fulre of the projert. espeaalFy wth the onset of Governmènt Busterity measures at the tirTte. A lack of suitable funding opportunitie5 eventually forced the decision by Real World TrJJ5t to dose the doors on thE Storeroom project. The then Manager and longstanding staff member, unwilling to accept this, felt Storeroom could be saved, but decided a more business-like approath was needed and having reached an ogreement with the board of R.W.T to tèke ower the rein5. made cost covering the priority. To help achieve this goal we increased our opening hours and opened the doors to the publicwithout restriction. A two-tTer pricing poliry was introdud, one for the publlc and th& other for ferred dients. It was uncertain whether thls would provide the answer, however within six months we had achieved our first goal and were meeting Most of our running costs. onthiS fInantial milestone was athieved, we were able to begin plannin8. One areè where we wtrÈ lackin8 knowledge was in fundrdising, so a decision was made to enlist the seNices of a prOf0n31 fundraising or8a¢7satiDn to train our managerial stèff in the art of fundl51n8. Thls wa5 an expensive gamble and ? steep learnlng curve, however thin just a few month5 we had secured several potential funde, these would eventually enable usto expand ourseNites and help to Secu the future of this much nEed£d community ?5set. Thank5 to the support of the general public and wlth the help of some grant monies acquired, we were able to takÈ positive step5 year on year. In June 2013 we moved intu n2weT. more suitable rented premis85 with customer p3rkin& heat and running water (absolute luxuryll. We were able to upgrade to more reliable ar)d respectable looking vans for our CDllectlDns anij dèliveries, provide relevant on-site training for our staff and volunteers, and to Introdu better pointof sale equiprnÈnt a till capable of apptyinB G[tAId ett, et Another move towards fijture prcofing Storeroom, was to enlbt the seNice5 of SASC Istrcial & staInable Capitsll who were keen tD a55iSt, they provided lending to purthase our premises and gave us a huge amount of help and support towards securing necessary deposit monies from Power to Change. This enabled the purchase of our premises, helping to secure our long-term future within the lool community. Under the adm of our accountsnts, we have worked hard to build sustainable rEserves to meet fvture running costs which we ar2 battlin8 t¢ m31ntain at present, them hailng been dcpleted when the intrtsducknon of new minlmum lfving wage and national insun hikes tDok hold. ynfortun3tely this will likely cause COnM again sn 2026 and we are un5UTe whetherwe will be able to malntsin those reserves in the shorttEmi, Any 5vrplus monies that are available these wlll be re-directed towards the upkeep of our very susSful Community prolert The Cowes Men's Shed, which was established in May 2018. Rent achlevements In 2022 we were able. with me help frDm the National Lottery tts In5trall solar panels at the Cowes Men'5 Shed, part of our ongoing effort to enhancè uur green uedentials. AiJdi&ionally, we upgraded the intemal lighting to energy efficient LED'S. aimin8 to make it as energy efficient a5 is possible. Page 3
StOREROOM 2010 IREGiSTERED NUMBER: 074889661 REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 DECEMBER 2025 Recent achievernents- continued In 2023 Storeroom2010 was also updated to LED Ilghts to help reduce energy costs. In March 2024 we were able, with the help in part of sornÈ fundin& to fulfil a long-time ambition to erECt permanent glasshouses at the Men's Shed, this gives our horticulturally inclined members the opportunity to keep their hand In whi15t increa5in8 the potential lor plant sales in comin8 years and hopefulW create addititsnal fund5 towards our runnin8 costs. A complete ovèrhaul ol our burglar alarm system and the introduction of new CCTV coversn8 all are&% ol both Storeroorn2010 and the Cowes f41en's Shed has also been achieved. In 2025. for the ftrst time since Storeroom2020's conceptlon we were forced to ltsok for way5 to reduce our alaV meagre outgoings and try to protect our see5. Unfortunatelyi our staff bo the brunt of thls, and hours had to be fe-structured in orderto reduce our wage blll. We were hesitant to put our priTrs up whilst so many people siruggle to make ends meel. We already run a tl8ht sh+p, so this was necessary to oftset the jump in wage5 tax and Nl. Therefo during 2025 there were no achievements this wa5 our maln goal. Cowe5 Men's Shed project Reg3rding the Cowes Men's Shed, our aim ha5 been to make best Use of the facility in order to generate lynds towards the lon8-term continuation ol the projett. Raising plants from seed and propagating cuttin8s for sale In our new glasshouse5 will be a vast imprcvement and we hope to in¢aSe sales siEnificantly. Some member5 fabricate woodpn planters, bird tsbles. feeders and garden ornaments, ¥ well as c<caslonally refurbishing plece5 of furniture, whlth also provides a welcome boost to the Shed running costs. We continually pursue funding to help cover staff wages in order to maintain a nominal level of service, and to date the cost has proved to be man3geable. The shed offered a safe 53nrtuary to members durins Covid lockdowns some expressed extreme loneliness isolation, but despte thi5 we have been able to attract nèw member5 currently almost 3t 200. MO recendy the Shed has also been looked upon as a winter warm space forsome of our rrernbers struggling during the energy Cr515. FINANCIAL REVIEW Financial positk)n Tot81 Income for rhe year aTnounted to Qll,80912024 - £303,C1591. The totsl cost ol charitable acknvities amounted to E297,376 12024 - É333,8601. The net surplus for the year amounted to £14.43312024 defiat £30,801). UnrÈstricted fund5 and restricted funds carriEd lOard at the end of the year amounted to £S21,503 and £26,330 respÈctively 12024 £515,143 and £18,257). UnresErlcted fvnds At the end of the year, £40121812024 - £402,329) was designated to Ihe tan8ible fixed assets fund attd £25,(KIO12024 E25,0001 was designated to the special projects fund. The remaining balance of £94,28512024 - £87,814) is held as fe reserves. Principal funding sources In 2022, Storeroom 2010 w85 awarded a National Lottery Re3chinE Communlties Fund grant totalling £254.459, to be pard over five year5. for our Men iii Sheds community project. We recelved two payments of £26,207 each in 2025, two payments of £25,769 each in 2024, EWO payments of £24,492 Each In 2023 and two payments of £24,279 each In 2022 with two further payments tD follow. Investment policy and oblèttÉves The Trustees hawe the power to invest in such assets as they See flt. The charlty keeps its assets in short term deposits, which can be accessed readily. Page 4
sfoREROOM 2010 IREGisfERED NUMBER'.074889661 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER2025 FINANCiALREVIEW Re5efve5 policy As 3lway5, the management exercise caution and diligence h3ndling the company accounts. As strongly suggested by our Bccountants. a sum equivalent to *x mtsnth5 rnnning costs is kept in reserve, ths proved to be a wise move a5 we were able, wath the help of the governments furlough scherTie to safely negotiate the unexperted Covid 19 pandemic with only rninimal finantial impact It hès been agreed by the Trustses that we should retsin 10-15k of unallocated SerV which can be used as a safety net should there be any further disruption to trade, or in, hopefully the unlikely SUrgen OF Covid 19 or another sirnilar pandemic. All major projects such a5 our planned meuanine floor increase are on the back burner until a time when theTrustees feel it 15 safe to move fonyard. At the year end, the amount held in free reserves was lower than that required b¥ our r25erves policy due to ri5inB runnlng costs. Wè will continue to rewew and monitor our costs to reduce them wherever possible. We have reduced paid 5t3ff hour5 in 2025 and Ive not be replaang a member of staflwho retired in 2025. We are looklngto rebuild the reserve towards ourtsrget from these plans and hope to do so within 5 years. FUTURE PIANS Amongst Storeroom's planned projects. better disabled faalilies and a lift to the mezzanine are part of our forward plan when financially viable. We plan to expand the retsil area by inryeasin8 our mezzènine floor to double its present sRe and thus, when the lift is installed, it would provide easier access fDf cu5torner5 With mobS1ity iUes. Hopefulty within the coming few years, we wish to instsll sdar panels on the roof ol Storeroom, further minimising our impatton the environment Efectrlc van$ Very much a darn at thls Ime, as at presént the doe5 not seem to be a suitsble affordable èltemative to diesel for our need5. we hope to work towards elettric vans for our delNer1 and collections a5 this will tske u5 closer to our aim of one day becoming orbon neutral, but i¥e think this unlikely to happen within the next fiveyeafs. STRUCTURE. GOVERNANCE AND mAGEm Governing document The company 15 mited by Guar6ntee and was incorporated on 11 January 2011. governing documènt is its Memorandum and Artide5 of Association as arnended by special re501uion registered at Cornpani# Plouse on 28 April 201L RÈcrnitment and appointmftt of newtrustees In 2020, du2 to the Covid-19 pandemi¢, twts of our board members resigned 85 they were deemed to be in high-risk groups. Our Ideal target minimum, six members was reduced to three having lost two rnernbe and gaining one during the previous year, We hÈve found that six or more members are needed in order to bring the reqUId weah of knowle(Ige to the table anrj a pleased to have been able to attract new Trtee5. all vetted and approved by thE existing board in the usual way, brfnglng us back uptothe PFeferred seven. Orrdnisation31 structure Our General Manager, supported by three other mernbers of staff, is joilltly r85ponsible for the day-t&d3y organisatton of our volunteer team. Ovérall responsibility for the PErformance of the team rests with the General Manager, who reports directly to the CEO on a daily basis. The General Manager also liaises with all departments to provide regular performance reports to thE Board ofTrustees. Page5
STOREROOM 2010 IREGISTERED NUMBER: 074889661 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Induttion and tralning of new trustees When enrolling new Trustees, it is required that thEy f3miliaTise themselves with the charity commissson guidance available rplsting to their new role. Rlsk management Storeroorn2010 attributes its Succ$ to Strict adherence to its principal value5. To protect the lons-terrn financlal viability of thè project through shrewd management and our main priority béing to contSnuE to provide and to protect this valuable and much needed community o55et into the futu, always working to prre, but never relyliiB upon grantfundlng to cover core costs. Upon start-up there was, as with any new venture. an elernent of risk, but withln slx months of re.fflodellin& Storeroom wa5 able to cover daily running costs and with prudent managemenl of ca5hflow, this has allowed for steady growth. Storeroom2010, cortinues to work toward5 building a stable future asset for the community and having taken ownership of our warehouse and the adjoining unit, we can plan long term antl where necessary. adapt and evolve tD meet ourcoTnmunity's changing need5. The Risk5 l. Retail provides no guaranteed income, and we lY upon the 5UPPOrt of the Island community for our continued SUC5. 2. There will always be the threat of new competltion, however we have weathered Seral start-LSP projects alreadv, with no adverse effèct 3. Sourcing enou8h rEa50nable quallty stock wa5 thought tD be 8 possible problem, however, to date we have never run up against this, and regularly, although thlu is not the pferred option, have to de]ay ¢ollertlons until we have ade9uate spaTrfor displaying8oods. 4. The possibility of another pandemic. Athough we su1Ved relatlvely unscathed thè risk from another pandemic has now become È real possibility and should not be taken lightly. Flnanciallywe have taken every precaution. Our rerVeS combined with the 3vai1able Govemrnent grant asslstance allowed u5 some degree of safety,. however It would be foolish to think we are imperviou5, and we will continue to monitor our finances closely and exercise caiftion until such times as we feel all irnpediments to our trading have passed. STATEMENTOF TRUSTEES, RESPONSI&ILITIES The trustees IwhD are also the dlrectors of Storeroom 2010 lor the purpose5 01 company lawl are responslble for preparing the Report Of the Trustees and the financial statements in accordance with applicable law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Cornpany law requlre5 the trustee5 to prepare linanoal statements for each fnancial yÈar. Under that law, the trustees have elected ta prepare the financial stztements in accordan with United Kingdom Generally Accepted Accounting Practice Iunlted Kingdom Accounting Standards and applicable lèwl. Under company low the trustees must not approve the financial statements unlS they are 5atssfied that they give a trise and f'alr view of the state ol affairs of the charitable company and of the In¢orning rosources and appllotion of resources, including the income and expenditure, of the charitable company for thar perlod. In preparing those financial statsments. the trustees are required to select suitable accountin8 policies and then apply thÈtn consistently,. Page 6
STOREROOM 2010 {REGISTERED NUMBER: 074889661 REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 DECEMBER2025 STATEMENT OF TRusfEES' RESPON51BILITIES- continued observe the methods and principles tn the Charities SORP- - r)3kejudgements ènd estimates that are reasonable and prudent; prepa the financial ststements on the going toncem basis unless it is inappropriate to presume that the charltsble company will continue in business. The tW5tee5 are responsible for keeping proper accounting record5 whlch disc1052 With reasonable accuracy at any time the financial postion of the th8ritsble cornpany and to enable them to ensure that the financTal statements comply wth the Companies Act 2006. They ar? also rponsible for 5afeguardlng the assets of the charrtabl& company and hence for taklnE reasonable step5 forthe preventiDn and detecbon of frdud and other irregularities Approved by order of the board oftNstees on... . and sEned on ffts beha by- Mrs W Miller-Trustee Page 7
INDEPENDENT EXAMINER'S REPORTTO THE TRUStEES OF STOREROOM 2010 IREGISTERED NUMBER.. 074889661 Independèntèxaminer's reportto the trustees of StorÈroom 20101'the Company'l report to the ch3rity trustees om my examination ol the accounts of the Company for the year ended 31 December 2025. Responsibilities and basis of report As the tharsty's trustee5 01 the Company land also its directors for the purposes ol company IBWI you are respo{ble lor the preparation ol the accounts lft aCWTdance with the requirements of the Companies Act 20061'the 2006 Act'l. Havillg 58ti5fied myself that the èccounts of the Company are not required to be audited under Part 16 of the 2006 Att and are eligible lor independent examination. I report in respect of my examin3tion ol your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 Art'l. In carryin8 Out rny examination I have followed the Directions given by the Charity Commission undersection 14Jl51 Ibl of the 2011 Act. Independent ex8miner's ststement Since your charity's gros5 income exceeded £0.0 your examiner must be a member of a listed body. I c3n Confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I conlim that no matters have come to rny attention in connection with the eknminarion giving me caLise to believe.. accounting records i*ére not kept In respect of the Company as required by Section 386 of the 2006 Act; or the accounts do not arcord with those records,- or the accounts do naL comply with the accounting requiremenrs of Section 396 of the 25 Act other than any requirement that the accounts give a true and fair view which is not a matter consldered as part of an Independent eMInaOn.' or the accounts have not been prepared in accordance with the methods and principles of the Ststement Df Recommended Practice for accDunting and reporting by charitles lapplicable to tharitI preparing their accounts In accordance Wth the Financial Reporting Standard applicable in rhe UK and Republic of Ireland IFRS 10211. I have no concerns and hav2 come acr055 llo other matters in connettion with the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. D Stevens Bright ErDwn Mited Isle of Wight Date.. Page 8
STOREROOM 2010 srATEMENTOF FINANCIALACTMTIES roR THE YEAR ENDED 31 DECEMBER 2025 2025 Totsl funds 2024 Total fijnds Unrestritted funds Re5triLted funds INCOME AND ENLWmEfS FROM Donations and lewaties 6) 2,944 3544 3,453 Charitsble artivitles Prevention and relief of poverty and protection and preservation of the envirtsnment Mèn in Sheds 249,553 249,553 55,064 236,093 59,311 55,064 Other trading activitiÉS Investrnent incorne 2,d81 L167 2,481 1,167 2,345 L857 Totsl 253,801 58,008 311,809 3.059 EXPENDITURE ON Charttable activities Prevention and relief of poverty and protection nd psetIon of the environment Men in Sheds 246,463 2,068 246.463 50,913 272,781 61.079 48,845 Total 248,531 48,845 297,376 333,860 NET INCOMEIIV(PENDITUREI Transfers leen funds 5,270 1,090 9,163 11,0901 14,433 130,8011 21 NètmovemÈnt in funds 6,360 8.0 14,433 130,8011 RECONCILIATION OF FUNDS Totrdl lund5 bFought forward 515,143 18,257 533.4DO 564,201 TOTAL FUNDS CARR]ED FORWARD 521,503 26330 547,833 533,400 The notes form partof these fin8noal statements Page 9
STOREROOM 2010 (REGISTERED NUMBER: 074889661 BALANCE SHEET 31 DECEMBER 2025 2D25 Tlltal funds 2024 Total Funds Unrestricted funds Restricted fund5 Notes FIXED ASSETS Tangible assers 15 544.595 544,595 564,8S8 CURRENT Assgrs Debtors Cash at bank and in hand 16 12.863 112,654 12,863 138,984 11.494 125,651 26,330 125,517 26,330 151,847 157.145 CREDITOR5 Amounts falling due within one year 17 127,9491 127,9491 126,2261 NEf OJRRENT ASSETS 97,568 26,330 123,898 110,919 T07ALAssrfs LESS CURRENT LIABIUTIES 642,163 26,330 668,493 675,777 REDITORS Amounts falling due after MO than one year 18 1120,6601 1120,6601 11413771 NEfA55ETS 521,503 26,330 547,833 533.400 FUNDS Unrestricted fund5 Restllcted funds 21 521,503 26,330 515,143 18,257 TOTAL FUNDS 547,833 533,400 The charitsbl? company is entided to exemption froffl Budyc under section 477 of the Companie5 Act 2006 for the year Ended 31 December 2025. The members have not required the company to obtsin an audit of its financial statements for the year ended 31 December 2025 In accordan¢e'Nith Section 476 of the Companie5 Act 2006. The truttees acknowledge their responsibilities for ensuring that the charitable company keep5 accounting records th8t comply with Sectltsn5 386 and 387 of the Companies Att 2006 and preparlng tlnanoal statements which give a true and fair view of the state of aff3irs ol the charitsble company as at the end ol each financial year 3nd of its surplus or defiot for each finanei81 year in accordance with the reouirernents ol Sectiofjs 394 and 395 and whi¢h otherwise comply with the requlrernents of the Companies Act 2006 relating to financial ststements. so fèr as applicable to the charitable company. The notes form parr of these thnancial staternent5 Page 10 contlnued...
OREROOM 2010 IREGtSTERED NUMBER., 074889S61 ALANCESHEET- continued 31 DECEMBER2Q2S These finanoal statements have been prepared in a¢cordèn¢e with the prDvislons applicable to charitsble companles subjettto the small COTnpanies regime. The cial statements were approved by the B03rd ot Tnstees and authorised for issue . and were signed on its behalf by-. on W Miller-TnJstee The note5 form part of the finandal statemènts Page 11
STOREROOM 2010 OTESTO THE FINANCIALSTATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES Ba515 of preparing the finala1 statements The flnanual Statements of the charitable cotnp8ny, which is 3 public benefit entity under FRS 102, have béen prepared in acEordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Pr3cfice applicable to charitle5 preparin¥ their accounts in accordance with the Finanu31 Reporting Stand3rd Bpplicable in the UK and Republic of [land IFRS 1021 leffettive l January 20191,, Financi? Reporting St3ndard L02 'Ttrie Financial Reportrng Standard applicable in the UK and Republic of Ireland. dnd the Companies Act 2006. The financial staterrlents have been prepared uniyer the historical cost convention. Income l income Is recognlsed in the Statement of FnanCIal Artp¥ities once the charity has entitlement to the funds, it is probable that the incorne will be rEceived and the amount can be measured reliably. Expenditure Liabilities are recognised a5 expenditure as sotsTr a5 there is a legal or constructive obllgation comrnitting the charfty to that expenditure, it is probable that a transfer of economi¢ benefits wll be requId in setdement and the amount of the obligation Can be meo5ured rellably. Expenditure 15 actounted for on an aceruals basis and h8s been classified under headings that aggregate all cost related to the category. Where costs cannot be directly ttributed to particular headin8S they have been allocated to activities on a basis consistent with the use of resources. CharStable 3Ctiwties Charitable expenditure comprises those costs incurred by the charity in the delivery of its attivittes and servlces for its beneliciarie5, It includes both costs that can be allocated directly to such artivities and those costs ol an indirect nature necE55ary to 5UPPOrtthem. GovÈrnance costs Govern3Trce costs indude those costs associated with meeting and constitutional and statutory requirements of the charity and include independent examination fees and Costs linked to the strategic management DI the charity. Allocatlon and apportionment Df costs All costs are allocated between the expenditure categories of the Statement of Financial Acrlvitles on a basis designed to reflect the use ol the resource. Costs that relate to a particular activity are allocated dlreciy, others re apportioned between 3Ctivitte5 in line with their sPeCtive proportion of the total incoming resources. Tèngible fixed a55et5 Depreciaticn is provided at the following annual rates in order to write orl each asset over its estimated useful Freehold property Improvements to propertv Plant and m3chinery Motor vehides Computer eqLJipment not provided not provided 25% on cost 25% on c05t 25% on CDSt The usefvl economic life of the charity's freehold buildings 15 reviewed regularly and they are maintained lo such a standard that their estimèted residual value is not I$ than their cost or valuation. Under the Trrcumstances depreiation is not charsÈd as the trusLees are of the opinion that It would be in5ignilicant and as such does not Impair a twe and lair view. Page 12 Eontinued...
SVOREROOM 2010
NOTESTOTHE FINANCJALSTATEMENTS- continuèd
FOR THE YEAR ENDED 31 DECEMBER 2025
ACCOUNTING POLlaES- continued
Taxation
The charity is exernpt from corporation tax on ts charitable activities.
Fund aEtounttng
Unrestricted funds can be used in accordance with the tharitsble obj
STOREROOM 2010 NOTE5 TO THE FINANcLSTATEMENTS- continued FOR7HE YEAR EMDEO 31 DECEMBER 2025 INCOME FROM CHARITABLE AcfiviTIES 2025 2024 Activity PrevEnthDn and relief ol poverty and protection and preseNation of the environment ProvEntion ancl relief of poverty and Protecon and preservation of the environment Prevention ènd relief of poverty and protection and preseation of the environment Prevention and relief of poverty and protectlon 8nd preservation of the environment MEn in Sheds Sale of donated goods 246.111 233,148 Gift ald 3.192 1,945 Grants LLK)O SHG admin lee5 Grants 250 55,064 59,311 304,617 295,404 Grants received, included in the above, are as follows: 2025 2024 General Men in Sheds National Lottery ReachinB Communitie5 1,000 7.774 5L537 2.650 52,414 55,064 60,311 CHAAITABLE ACTIVITIES COSTS Direct Costs (see note 71 Support costs Isee note 81 Totsls Prevents'on and relief ol poverly and protection and presetvation ol the environment Men in Sheds 242.582 50,039 3.881 874 246,463 50.913 292,621 4.755 297.316 Page 14 contlnyed...
STOREROOM 2010 NOTES TO THE FINANCIALSTATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER ZL125 DIREcfcosTS OF CHARITA8LE ACTIWTIES 2tr25 2(Y24 staff costs HSre of plant and machlnery Rates Insur8tsce ght, heat and vmter Telephone Postage and stationery Advertising Sundrie5 Health care Motor and travel expenses Volunteer5, expenses Professional fee5 Repairs and renewaLs Subscriptions Refre5hrnents Stsff training Streamllne charges Bank charges Non-recoverable ixputVAT DeprEciation Interest payable and similar tharges 215.674 1,076 3,015 5,650 5,732 921 1,088 1,390 109 431 IL149 1.428 125 4,093 2,233 1,760 223,803 1,184 1,124 4,963 5.278 977 1303 2.870 507 3.031 21949 1,414 211 9,478 2,269 2.337 1,318 1,881 662 3,490 25,875 13N53 2.084 615 1,ts4 21,354 IL500 292,621 329,377 SUPPORT COSTS Governan costs Prevention and relief of povety and protection and preservation of the environrrsent Men in Sheds 3,881 874 4,755 PBge 15 continued...
STOREROOM 2010 NOTES TO TH£ FINANCIALSTATEMENT5. continued FOR THE YEAR ENDED 31 DECEMBER 2025 SUPPORT COSTS-¢ontinued Support Costs, included in the above, are as follows.. GovernancÉ costs 2025 2024 Prevention and relief of poverty and protection ènd preseNation orth& enwronment Men in Sheds Total acknvities Total activities Professional fees Independent examiners, fees Independent examlners, fees for other service5 253 1,652 253 2,050 54 2,228 398 1,976 476 2,452 2,201 3,881 874 4.755 4.483 2025 Total funds 2024 Total funds Unrestricted fund5 Restricted funds Support rosts 4.755 4,755 4,483 io. NET INCOSVIEIIEXPENDITVREI Nèt incomellexpenditurel 5s ststed after charyngllcreditingl.. 2025 2024 Deprociation- owned assets Hire of plant and machinery 21.3S3 L076 25,873 1,184 Page 16 contlnued...
STOREROOM 2010 NOTES TOTHE FINANcfALSTATEMENIS- cuntinlred FOR THE YEAR ENDEL) 31 DECEMBER 2025 ii. TRVSTEES. REMUNERATION AND BENEFITS There were no trusEee5' remuneration or other benefits for the year ended 31 Dernber 2025 nor for the year ended 310@tsrnber 2024. Trustees, expenses Thère iverE no tnjstees, expenses p31d for the yeaT ended 31 Dernber 2025 nor for the year ended 31 December2024. STAFF COSTS The average monthly numberof employees duringthe year Was as follows: 2025 2024 io Charitable activities No employees reiVed emrilurnent5 in ex55 of £60,000. The thi2f Executive Officer and General Manager are considered key management personnel. The tota employee benefits forthese posts We £75.17912024- £68,577). MATERIAL TRANSFERS Restrirted fund expenditure Df a capit31 ttatU, mainly the purchase of equipment. Is induded in fixEd asset additions at the time of the purchase. An arnount equal to the lower of the incorne Feceived in respect of the equipment or the cost of this equlpment is transferred from the restricted fund to the unrestricted fund, provided that this er4uipmÈnt may be used by the charityfor rts gener31 applirdtion. DéprÈtiBlion on thls equlpment will be charged against unrestricted funds. A transfer from the restricted fund to the unrestricted fund will not be made for fr<ed asset additions that are not t8pable OF being used by the tharity forgeneral application. DepCiatIon in spect of thi5 type of asset will be ch3rgEd against restricted funds. COMPARATIVES FOR THESTATEMENTOF HNANCIALAcllviTtES Unrestricted fund5 ReStrtted funds Total funds INCOME AND ENDOWMENTS FROM Donations and le8acles 780 2,673 3,453 Charitsble artivities Prevenbon and lIef of poverty and protection and prerVation ol the environment Men In Sheds 236.093 236.093 59,311 59.311 Other trading aetiiryties Investment income 2,345 1,857 2,345 1,857 Total 241,075 61584 303,059 P3ge 17 continued...
STOREROOM 2010 NOTES 70 THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR EP4DED 31 DECEMBER 2025 14. COMPARA71VES FOR THE STATEMENT OF FINANCIALAcfiviTIES- continued Unrestricted funds Restricted funds Total lunds EXPENDITURE ON Charitsble activities Prevention and relief of poijety and protetrion and preserwation of the environment Men in Shs 270,151 4.869 2,630 56.210 2n,781 61,079 Total 275.020 58,840 333,860 NET INCOMEIIEXPENDITUREI Transfers between funds 133,9451 36,792 3,144 136,7921 130,8011 Net movetment in funds 2,847 133,6481 130,8011 RECONCIUATION OF FiJNDS Total funds broughtforward 512,297 SL904 564,201 TOTAL FUND5 CARRIED FORWARD 515,144 18,256 533,400 15, TANGI8LE FIXEDASSEf5 Improvements Fr&ehold property Plant and machinery property COST At l January 2025 Additlons 514,313 23,726 75,990 1,090 At 31 Detsrnber 2025 514,313 23,726 77,080 DEPRECIATION At ljanuary 2025 Charge for year 13,972 2.373 41,586 12,929 At 31 December2025 16,346 54.515 NET BOOK VALUE At 31 December ?025 514,313 7,380 22,565 At 31 Oecernbèr 2024 514,313 9,753 34,404 Page J8 continued...
STOREROOM 2010 NOTESTOTHE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2025 TANGIBLE FIXÉDASSEfs- contlnued Motor vehicles Computèr equipFnent Tots15 COST At ljanuary 2025 Addition5 63.355 10.242 687,626 1,090 At 31 December2025 10,242 688,716 EPRECblTION At ljanuary 2025 Char8e for year 57.858 5,497 9,351 554 122.768 2L353 At 31 Oecernber2025 63,355 9,905 144.121 BOOKVALUE At 31 Dernber 2025 337 544595 At 310ecember2024 5,497 891 564,858 16. DEBTORS: AMouKfs FALLINfj WEWThIN ONE YEAR 2025 2024 Trade debtor5 Other debtors VAT Prepayments 3,000 591 993 8,279 917 I,7 8,740 11863 11,494 17. CREDtTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Bank loans and ovÉrdtsfts (see note 191 Social security and Dthertsxes Accrued expenses 21,717 3,460 2,7T2 20,153 3,366 2,707 27,949 26,226 Page 19 continued...
STOREROOM 2010 NOTES TO ThE FINANCIAL sfATEMENfs- continued FOR THE YEAR ENDED 31 DECEWIBER 2025 18. CREDITORS,. AMOUNT5 FALLING DUE AER MORE THAN ONE YEAR 2025 2024 Bank loans (see ncts 191 120,660 142,377 19. LOANS An analysis Df the maturity of loans is given below= 2025 2024 Amounts falllng due within one year on demand.. Bank loans 21,717 20.153 Amounts falllng betrNeen one and two year5.. Bank loans- 1-2 yea 23,403 21,717 Amounts falling due between two and live years.. Bank loans- 2-5 years 81,686 75,801 Amounts falling du2 in more than live years.. Repaydble by instalments.. BaTrk1oans n)ore 5 yr by instal 15,571 44,859 2D. SECUREO DEBTS The followin8 cured debts a Included wrthin creditors.. 2025 2024 Bank loans 142.377 162.530 The b3nk106n is secured by a legal charge on the charity's IehOld property. Page 20 continued...
STOREROOM 2010 NOTE5TOTHE FINANCIAL STATEMENTS- tontinued FOR THE YEAR ENDED 31 DECEMBER 2025 21. MOVEMENT IN FUN05 Net movement n funds Transfers between funds At 31.12.25 At l.L25 Unrestr5Cted fvnds General fund Designated fund ltsngible rEd assetsl Designated fund15peaal proiectsl 87.814 41,329 25,000 26,624 12L3541 120,1531 21.243 94,285 402,218 25,000 s,143 5,270 1,090 521,503 Restrlcted funds Men in Sheds National Lottery Reathing Communitie5 9.054 9,203 5,202 3.961 11,0901 13,166 ,164 18,257 9.163 11,0901 26,330 TOTAL FUNDS 533,400 14A33 547,833 Net movement in funds. includèd in the above are as follows.. Incoming resources Resource5 expended Movement in funds Unrestritted fvnds General fund D&lgnatEd fvnd Itanwble fixed assets) 253,801 1227.1771 121.3541 26.624 121,3541 253301 1248,5311 5,270 Restricted funds Men in Shed5 National Lottery Reaching Communitie5 5,594 52A14 13921 148,4531 5202 3,961 58,LX)8 148,8451 9,163 TOTAL FUNDS 311,809 1297.3761 14,433 PaEe 21 continued...
STOREROOM 2010 NOTES TO THE FINANCIALSTATEMENT5- tontinued FOR THE YEAR ENDED 31 DECEMBER 2025 21. MOVEMENT IN FUNDS- contlnued Comparative5 for movÈment in funds Nèt movEThent in funds Transfers between funds At 31.12.24 At 1.1.24 Unrèstrrcted funds GenÈral fund De518n3ted fund Itangible fixed assets) Designated fund Ispecial proje£tsl 3,513 353,784 25,000 18,0721 125,8741 137,6271 74,419 87,814 402,329 25,000 512,297 133,9461 36.792 Restrirted funds fvlen In Sheds National Lottery Reaching Corpmunities 5wire Charitabl& Trust Storeroom 515,143 6,699 25,075 17,500 2.630 10.000 14.2251 17.6451 111,6471 117,51X)I 9.054 9,203 12.6301 51.904 3,145 136,7921 18.257 TOTAL FUNDS 564,201 130.8011 533,400 Comparative net movement in funds, included rn the above are 35 follows.. Incoming resources Resou[S expended MovEment in funds Unrestritted funds General fund Designated lun(S Itangible fixed assets) 241,074 1249,1461 125,8751 18,0721 125,8741 241,075 Restrtcted lunds Men in She National Lottery Reaching Communities Storeroom 1275,0211 133,9461 10,448 5l536 14481 155,7611 12,6301 10,000 14,2251 12,6301 61.984 158,8391 3,145 TOTAL Fuf4DS 303,059 1333,8601 130,8011 Page 22 conlinued...
STOREROOM 2010 NOTESTO THE FINANCWLSTA7EMEwf5- continued FOR THE YEAR ENDED 31 DECEMBER2025 zi. MOVEMENT IN FUNDS- continued A currentyÈar 12 months and prior year 12 months combined p0son is as fdlows.. Net movement in funds TTrnsFer5 between funds At 3L12.25 At l.L24 Unrestrieted funds General fund Designated fund Itangible fixed assets1 Designated fund Ispery31 projects) 133.513 353,784 25,000 18,552 147,2281 157.7801 95,662 94.285 402,218 25.000 512,297 128,6761 37,882 521,505 Restrirtedfunds Men in Sheds National Lottery Reaching Comrnunities Charitsble Trust Storertsc)m 5,699 25,075 17.500 2.630 15,202 12641 18,7351 111,6471 117,5Lfll 13,166 13.164 12,G301 5L904 12.308 137,8821 26,330 TOTAL FUNDS 564,201 116,3681 547,833 A current year 12 months and prior yezr 12 months combined net movEment in fvnds, induded Sn the above are as follows.. Incoming resources Resour$ expended Movement in funds Unre5trictsd funds General fund Designated fund ltsngiblefixed assets) 49475 1476,3231 147,2291 18.552 147,2281 494,876 1523,5S21 Restricted funds Men tn Sheds National Lottery Reaching Cornmunities Storeroorn 128.6761 16,042 103,950 18401 1104,2141 12,6301 15,202 12641 12.6301 119,992 IlJ7,6841 12.308 TOTAL FUNDS 614,868 1631,2361 116,3681 Transr5 betAueen funds During the year, the following amounts were ttsnsferred between funds.. £20,153 was transferred from the general fund to the designated fund Itangible fixed assets! This amount reprèsents the m(wemÈnt in the net lue of tsngible fixed assets I any liabilities oiving irTr relation to those assÈts as at the ye3r end. Page 23 continued...
STOREROOM 201Q NOTES TO THE FINANCIAL STATEMENTS- Contlnued FOR THE YEAR ENDED 31 tJECEMBER 2025 21. MOVEMENT IN FUNDS- continued Transfers between funds- continued £1,090 was transferred from the Men in Sheds restricted fund tfj ihe designated fund. This presents amounts received a5 restricted income toward5 the c05t of purchasing a55ets for USÈ by Men in Shed5, the purchase5 of whlch were completed during the year. ThE use of these a55et5 will be for nstrIcted charitable activtties. 22. RELATED PARf( DISCLOSURES There were no related p3rty transactions for the yeai ended 31 December 2025. P3ge 24
STOREROOM 2010 OAllED STATEMENTOF FINANCIALAcnvmES FOR ThEYEAR ENDED 31 DECEMBER 2025 2025 Total fun(ts 2024 Totsl funds Unrestrirted funds Re5trirted funds INCOMEAND ENDOWMENTS Donations and legacies Donations 600 2,944 3,544 3,453 Othertrdding activltieg Sale of MIS goo( 2,481 2,481 2.345 Investment income Dep051t account interest 1,167 1.167 L857 Charitsble aCtltIeS Sale of donated goods Gift aid Grants SHG admin fees 246,111 3,192 246.111 3,192 55,064 250 233,148 1,945 60.311 55,064 250 249.553 55.064 304,617 295,404 Total incoming resourcès 253.801 58.CM)8 311.809 303.059 EXPENDITURE Charitable actNities Wages Pensions Hire of plant and machinery Rate5 Insurance Light, heat and water Telephone Postage and stationery Advertising Sundries Health care Motor and travel expenses Volunteers, expenses Professional fees Repairs and renewaLs Subscriptions Refreshments Carried forward 170,038 3.069 1,076 2,573 5,400 3,348 921 798 992 42,567 212,605 3,069 1.076 3,015 5.650 5.732 921 1,088 1,390 109 431 11,149 1,428 125 4,093 2.233 1,760 255,874 220,759 1,184 1,124 4.963 5,278 977 1,303 2,870 507 3.031 21,949 1,414 211 9,478 2.269 2,337 282,698 250 2,384 290 398 109 431 11,149 1.428 125 2,676 2,034 1,038 207,cr36 1.417 199 722 48,778 This page does not form partofthe ststutory fin3nual Statements P3ge 25
STOREROOM 2010 DETAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2025 2025 Total fund5 2024 Total funds Unrestricted funds Restricted funds Charltsble artivities Brought fonvard Staff training Streamline charges Bank charges Non-recoverable input VAT Depreciation of tangible fixed 85sEts Bank loan interest 207,096 48,778 255,874 282,698 1,318 1,881 662 3,490 25,875 13.453 2,084 2,084 615 1,194 21,354 11,500 67 1,194 21,354 11,500 243,776 48,845 292,621 329.377 Support costs Govemance costs Professional fe Independent examine, fees Independent examiners, fees for other services 253 2,050 2,452 253 2,050 2.452 54 2.228 2,201 4,755 4,755 4,483 Total resources expended 248,531 48,845 297.376 333.860 Net lexpend¥turèllintome 5,270 9,163 14,433 130,8011 This page does not form part of the statutory fTnancial statements Page 26