Company registration number. 07877609 Charty registration number. 1146877 Devon and Cornwall Furniture Reuse Project IA company limited by guarantee) Annual Report and Fin8ncial St8lement8 for the Year Ended 31 Deoembgr 2023 WESTCOTTS CHAP75AEP A¢COVWTAIIT 4 •U8IWE85 AO¥I¥EP
Devon and Cornwall Furniture Reuse Project Contents Trustees. Report 2105 Indewndènt Examin6rfs Report Slalement of Financial Activrtles Balanc8 Sheet Notes to the Finandal StstÈmènts 9t019
Devon and Cornwall Furniture Reus• Project Reference and Administratlve Details Trustees A Turner CMButt R Symons P E Sc8nlan P J Pearce N Toms N Tom8 S•crotary Ch•rlty R•g5¥tr•tlon Numbèr 1146877 Company R•glstr&tlon Number 07877609 Th8 charity IB incorporated in England and Wales. 97 Union Street Slonehou88 Ptymouth Devon PL1 3NB Registgred Office Indfrpendent Examlnor We8lcotts ISWI LLP Plym House 3 Longbridge Road Marsh Mills Ptymoulh Devon PL6 8LT Page 1
Devon and Cornwall Furniture Reuse Project Trustees, Report The Iruslees present their report and financial statemènts for the year ended 31 December 2023. The financial statem&n18 have been prepared In accordance wrth the accounting polici6s sel out in note 1 to th8 financial slalemenls and comply wtih the char'ws Momorandum and Articles of Association, tha Companies Acl 2006 and Accounting and Reporting by Charities.. Statement ol Recommended Practice apPIable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland (FRS 1021 {88 8m8nded for accounting periods commencing from 1 January 20161" Objectlvgs and ActlvttS88 The main aim of our charity is lo help people in our communities who are experiencing severe povety or are in danger of going into poverty or are experiencing difficum times. We help around 900 people year. Unfortunately, the need for our service has increased lo $u¢h a Ve1 that we cannot keep up wrth d•mand. The Cosl-of Living Crisi8 has meant that rnore and more families and individu81s are going wilhoul food, and 1 in 2 families are wthoul an essential while good, and 1 in 3 familie8 are deslrtute. Never before have we $aèn parents asking for food for their children on social media. We are receiving requests for holp from people who would never have imagined needing help just 3 or 4 years ago. The stress ol nol being able lo afford oven the basics, or having lo choose whether lo buy food or pay bills is fracturing families, wrf(h some sadly beyond repalr. Speaking lo people in our communities, we have discovergd that being in pov&rty is not just something people on ksw incomes 8re faced with. Almost everyone we meet arè expenencing financial difficutties and would not be able lo replace an essential item in their home rf r( were lo break down. There are many reasons why people need our help. People may be moving into a property because they are fleeing domestic violence. b8CaU8e they are currently homeles5, bging released and re-homed from mental health care facilrtie$, hospitals or prison, or because they are seeking asylum. We help communrties by helping those who in the community that maller the most - the vulnerable 8nd th8 often forgollen. We do this best by working in partnership wf(h other organisation8 such 89 The Homeless Unil, BCHA, Social seice8, Children's Services, Community Groups. Refugee Groups. Drugs and Alcohol Rehabilitatron Groups, AGE UK, Social Landlords, Ex Sorvice Personnel, and others. All these organisalions refer people whc* need support lo the project. and w8 have an OP8n-door policy for those who need assistance to visit th8 project. Amongst other activrtie8, we supply free of charye furniture and olhor btems. We 8150 offer discounted, affordable item5 to 811 customers, particularly lo disadvantaged member5 of the community. Around 80% of our stock 1$ given free of charge lo those in need. The number of organisalionslcharilies relerring people in need to us has increased and in fact we are working wrth charities fijrther afield, Iravelling further than we ever have in the past. Also, the number of p80ple contacting the charity of their own accord has increased. Although we are happy that more peopkg know who we are and how we can help, it is very distressing that so many people need help. We are helping people who have tried to access other Serv8$ bul have been turned down for help due lo limf(ed resources. We also have many more organi581ions who signpost Pgoplg lo our charity and vice versa. 11 has been very useful indeed in helping people gel the help they need as soon as possible. During the year we worked in partnership with Sovereign Network Group who purchased househo essenti818 from our charity and which we delivgred lo their residents. Page 2
Devon and Comwall Furnlture Reuse Project Tru8ts95' Report During the year we launched sche8 such as Packages of PositNily and SuNiving Winter. The hemes catered for anyone who needed essential items. Each box had everything a person needs to help them be9in their new lives from hoovers, kettles, toasters as well as Cutlery and new bedding P8cks including pillows, duvet elc. People could also have a microwave. dehumidifier, healed clothes airers and other (tems. We also included a cleaning box. a solf-hygiene box and a baby box if needed. If children wère involved, we would put a box of things just for them together which included new pyi'amas. a new toy, a new book, a new blanket, and their own toothbrush elc. We provided adults th heated blankets. dressing gown5, gloves and 8carfs. These schemes were incredibly popular and Sorely needed and helped 50 many people. We also help childrenlyoung people who have.aged out of care.. Wh8n they are moved into their own properties or shared housing, they h8ve absolutew nothing. Having to manage on your own is daunting and Stressful bul having lo do so when comino out of a care environment and not knowing what help or support you gel Is even more dKficult. Th• prolecl collects unw8nted fvmilure, washing machines, cookers and other household i(em8 which are taken back lo the project te be cleaned and refurbished and offered lo families, groups or individuals at affordable pricès or for free. We are now also collecting smaller items such as dinner 8els which are clean8d and then pul In our free of ch8rge Welcome Home Room. We 8re being more active on social media and are no longer afraid of letting peop know exactly how wg help and how many people we help. We review our aim5, objectives. and aclivjlie8 8t least once each year to look al what has been achieved Sn the previous year. The charty refers lo the guidance contoined in the Charity Commissions general guidance on public bgnefil when ffjviewing it8 aim8 and objectives and in planning future activities. The twsle88 consider how planned activities ¢onlribule to the aims and objgdives sel. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Financial rnvlow The results lor the year are 5h¢)wn in the slal8menl of financial activities and sh¢)w nel in¢omlng resources for the year of 2023. Whilst the Trustees are pleased to report that the charty has revenug remaining. funding18 becoming much harder to gain. especially for help with core costs. Foolf811 into the charity has improved slightly bul with our core costs increasing il is becomin9 more difficull to cover all oui costs. Polley on reseThes The charity has made a small Sufplus in the year. Finances continue lo be a ch811enge, bul through careful rnanagem8nl and cost control we plan to build on our rg$ervg$ to ensure that in the event of a loss of income sufficient reserves are held to enable the charity to seek additional funding sources. The Charity aims to hold a reserve 013 months operating costs and some progress has been made in the year in working l¢)wards this. Investmentpollcy and obJectlves The trustees regularly review the cash levels held by the charty and need lo maintain acces5 to fvnds to operate. Any 8ignificanl surplus funds will be placed in an interesl-bearing deposrt account when appropriate. Page 3
Devon and Cornwall Furniture Reuse Project Trustees. Report Golng concern The Iruslees havè assessed the major risks lo which ltte eharty is exposed and are satisfied that systems are in place lo mitigate exposure to the major risks. We aro confident that we can continug for tho nexl 12 months. Structure. governance and managemont Natur• of govemlng document The charity 18 a company limrted by guarantee and not having a share caprtal. In the èvent of winding up, reglslered members are liable to ¢ontribule a sum not exceeding EIO per member toward5 the debt5 and liabilities of the charity and the cos15 and expenses of winding up. The trustees. who ar• also the dir8Ctor8 for th8 purpose of company law, and who seNed during the ar and up lo the date of signature of the financial $latemènls were.. Robert Symons Alison Turner P8uI Scanlan Christopher Butt N¢ill Toms Peter Pearc Dl8clo8uro Since the year end of our account (December 20221 we have all b6en impacted by the c08t-of-living crisis. 11 15 increasingly hard lo cover core costs al the end of each month and whilst we have securgd gran18 for the variou8 scheme¥ we run, wnnlng gran18 for core costs is almost impossible. Howévèr, wllh the help of funding we m8naged lo help more paople than even we thought possible by working as 8 team, working closely wth other Organisatn$ and ¢harilies, and doing 80 safely. Page 4
Devon and Comwall Furnlture Reuse Project Trustees, Report Statement of trustees. responslbllltle8 The trustees (who afe also the directors of Deven and Cornwall Furniture Reuse Prolect for the purposes of company lawl are responsible for preparing the Iruslees. report and the financial 8talemenls in accordance w(Éh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepl¢d Accounting Practice), including FRS 102 'The Financial Reporting standard applicable in the UK and Republic Df Ireland" Thè report and accounts have beeh prepared in accordance with the provisions in Ihe Companies Act 2006 relating lo small companies. Company law require5 the Iru$tee$ to prepare financial slalements for each fi'nancial year. Under ompany law the Iruslees musl not approve the financial slalemenls unl8SS they are satisfied that they give 8 true and fair view of the slate of affairs of the charitable company and of the incoming r8sourees and application of resources, including ils income and expendbture, of the charitable company for that period. In preparing these financial slalements, the tru8tees are required to.. select suf(8ble accounting policies 8nd apply them consislenlty,, observe the method5 and principles in the Charllies SORP., make judgements and eslimales that are reasonable and piudenl,. state whether applicable accounting standards, comprising FRS 102 have been followed, subJ'eGI to any material departure8 dlsclosed 8nd explained in the financial 3lalemenl6,' 8nd prepare the financial slalemenls on the going concern basis unles8 rt is inappropriate to presume that the charitable company will contsnue in business. The trustees are responsible for keeping proper accounting record5 that can discloso wh wasonabl8 accuracy al any lime th8 financial position of th¢ charitable eompany and enable them lo ensure that the financial statements comply with tho Companies Act 2006. They are also re¥pgn$ible for safeguarding the assets of the chari18ble company and hance for taking reasonable slep$ for the prevention and dele¢tion of fraud and other irregularbties. The tfU5tee$ arè responsible for the maintenancg ènd Integrty of the corporate 8nig financial information included on the charitable company's website. Lègislation goveming tho propar81ion and dis8eminalion of finan¢ig1 statements may differ from legislation in other iurisdiclions. 8m•ll companh• provlglon statement This report has been prepared in aecordance wlth the small compan5 regime under thè Companies Act 2006. The annual roport was approved by the trus1oe$ of thè eharty on 24..1.71.2* and signed on il¥ behalf by.. A Tumer Trustee Page 5
Devon and Comwall Furniture Reuse Project Independent Examiner's Report to the trustees of Devon and Comwall Furniture Reuse Project ('the Company'l I report to the charty Iruslees on my examination of the accounts of the Company for the year ended 31 December 2023. Rosponsibillties and basis of report As the charty's trustees of the Companylond also (ts directors for tha purpo8e8 of company law} you are rèsponsible for the preparation of the accounts In accordance with the requirements of the Companigs AGI 20C61'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for indepgndenl examination, I report in respect of my exarninalion of your charty'8 accounts as carried out under section 145 of the Ch8rill8s Act 2011 1'th& 2011 Acl'l. In carrying out my exarninalion I have followed the Direcli)ns given by the Charity Commission under section 14515llbl of tho 2011 Act. Independent exomlrt•r'8 8tat8mènt I have compleled my exgminalion. l ¢onfirm that no matters have come lo my attention in connection with the examlnalion giving me cause lo balieve.. 1. 8ecounting record8 were not kept in respect of Devon and ComwAII Furnllure Reuse Prolect as r¢quired by section 386 of the 2006 Act,. or 2. the accounts do not accord with those records., or 3. the accounts do not comply wrth the accounting fequifgments of seCtn 396 of the 2006 Act other Ihan any requirement that the o¢counls give a 'lrue and fair view. which 18 not a maller considered as part ol an independent examination., or 4. the accounts have not bean prepared in accord8nce with the methods and principl88 ol the Sialemenl of Re¢omm$ndèd Practice for accounting and reporting by charitie5 lapplicable lo charities preparing their accounts in 8ccordance with the Financial Reporting Sland8rd applicable in the UK and Republic ol Ireland IFRS 10211. I have no concerns and have come a¢ros$ no other matters In connection wrth the examination lo which attention should be drawn in this report in ordèr lo enable a proper understanding of tho accounts lo be reached. Matthew Keane ACCA Association ol Chartered Certified Accountants Westcotts ISWI LLP Ptym House 3 Longbridge Road Marsh Mills Ptymoulh Devon PL6 8LT Date.. 2.<..1...7/2k Page 6
Devon and Cornwall Furniture Reuse Project statement of Financial Activities for the Year Ended 31 December 2023 {Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrèstrlcted funds Restrlcted funds Total 2023 Totsl 2022 Not• Income and Endowments from: Donations and legacie8 Investment income 133.880 215 40,904 174,784 215 153.900 Total income 134,095 40.904 174,999 153.900 Expondlture on: Charitable actfvities (135,122 66,5561 201,678 176,070 Total expenditure Nel •xpondhura 135,122 166,5561 201.678 176,070 1.027 125,6521 126.679 22,170 Net movement in funds 11.027} 125,652) 126,6791 122,1701 Ro¢on¢lllatlon of fund• Total fund$ brought forw8rd 26.188 33,216 59,404 32,725 81,574 Totsl funds carried forward 15 25.161 59,404 All of the charity'& activities derive from ¢ontinulng operalk)n8 during the above two perl)ds. The funds br&akdown for 2022 IB shown in note 15. The notes on pages 9 to 19 form an integral part of these financial statements. Page 7
Devon and Comwall Furniture Reuse Project (Registration number: 07877609) Balance Sheet as at 31 December 2023 2023 2022 Note FSxèd a8s•ts Tangible assets Current assets Debtors Cash at bank and in hand 11 24,133 28,132 12 12,310 18.600 12.427 43,268 30,910 55.695 Crodltors: Amounts falllng duo wlthln on• year 13 5,142 Net current assfjts 25,364 50.553 Total assets less current Il•bllttl 49,497 78,885 Crgdltors: Amounts fjlllng due after MO than one ymr 14 Net a*sots 16,772 19,281 32,725 59,404 Fund8 of the charfty: Rostrlcted Income funds Reslricled funds 7,564 33,216 Unre8trlcted Incomè lund8 Unreslricled funds 25,161 26.188 Total fund8 15 32,725 59,404 For the financial year endlng 31 December 2023 the tharity wgs ent(tled to exemption from 8udit under section 477 of the Companies Act 2006 relating lo small companies, Dire¢lors' respon8ibilrtios.. Thg members have not required thg charity lo obtain An audit ol its a¢counl3 for the year in question in accordance with section 476,. and The dIrlorS aekn¢wledg6 their responslbilrties for complying with the requirements ol the Act with respect to 8ccounting records and the prgp8ration of acGounls. • financial slalemenls on pages 7 10 19 were approved by the trustees, and authorised for is$u8 on A Turner Twstee The note5 on pages 9 to 19 form 8n integral part of these financial statements. Page 8
Devon and Cornwall Furniture Reuse Project Notes to the Financial Ststements for the Year Ended 31 December 2023 1 Charity status The charity is limf(ed by guarantee. in¢orporaled in England and wa8. and Consequent does not have share captsl. Each of the Iruslees 1$ liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The oddr8ss of tts reglstered office 1$.. 97 Union Streel Slonehouse Plymouth Devon PL1 3NB 2 Accountlng pollcle• ststement of compllance The financlal statement¥ have been prepared in aGGordance wlth Accounting and Reporting by CharTrties.' Slalemenl of Recommended Practice lapplicablo lo chanties preparing their accounts in 8ccordance wrth the Fin8ncial Reporting Standard applicable in the UK and Républic cf Ireland IFRS 10211 (issued in October 20191 (Charities SORP IFRS 10211, the Financial Reporting Slèndard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. 8asl8 of preparatlon Devon and Comwall Furniture Reuse Proj¢ct meets the definition of a public benefit enlily under FRS 102. A5se15 and liabilities are initially recognised al historical cost or transaction value unless otherwise Staled in the r8levant accounting policy notes. Golng concorn The Iru$l¢as consider that there are no m8t8rial uncertainlie8 about the charity's ability to coftlinue a$ a going ¢on¢grn nor any significant areas of uncertainly that affect the carrying value of assets hekl by the charity. Ex•mptlon from preparlng a cash flow statomfrnt The charity opted to earty adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow ststsmenl in these financial slalements. Page 9
Devon and Cornwall Furniture Reuse Project Notes to the Flnancial Statements for the Year Ended 31 Decembor 2023 Income and •ndowm8nts All incoming resources are iftduded in the stslement of financial activities when entrtlemenl ha8 passed to the ¢harily', il is probable that the economic benefits associated wf(h the transaction wll flow to the charty and the 8mounl c&n be reliably measufed. The following specrfic poliCS arg appli8d to partScular categories of income.. • income from donations or grants is recognised when there is 8vidence of entillemenl lo the grft, receipt is probable and ils amount can bé measurèd reliably. legacy Ineom8 18 fecognised when receipt 18 probable and enliilemenl 1$ e$lablish6d. • income from donated goods is mea8ur8d al the falf valv8 of the goods unless this is impractical to measure reliably, in which case the value is denved from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the account8 when received if the value can be reliably measured. No amounts are included for the ¢¢nlribullon of general volunteers. Incom8 from ¢onlracl$ for the supply of 8ervices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a conlraclual requirgmenl for il lo be 8penl on a partKular purpos• and relLbm8d rf unspent, in which case il may be reg8rded as restricted. Investment Income Divid8nd$ arg recognisèd oncè the dividend has been declared 8nd notification h88 been reGeiv¢d of the dividend due. Expgndlture Expenditure 18 recognised on an accruals basi5 a5 a liability 1$ incurrèd. Expèndllure Include8 any VAT which cannot be fully recovered, and is cl8ssili8d under headings of the slalemenl of financia1 aGtivilig$ to which il rglale8'. expenditure on raising funds includes the cost8 of 811 fundraising aclivilies, even18, non-charilable trading aclivrti88. and the sale of donated g¢xsds. expenditure on charitable 8etivilies includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of ils bèneficiaries, including those support costs and costs relating lo the governance of the charty aPpOrtned lo chari18ble activities. other oxpgndilure includes all expendlture that 18 neither related to raising funds lor the charity nor part of its expenditure on ¢haritable activities. All costs are allocated to expendrture c8legories reflecting the use of the resource. Direct costs attributable to a single aclivty are allocated directly lo that activity. Shared costs 8re apportioned between the activities théy contribute to on a reasonable, justrfiable and consistent basis. Charttable actlvltlos Charrtable expenditure comprises those ¢o$ls incurred by the charty In the delivery of ils a¢tivilies and services for ils beneficiaries. 11 includes both costs that can be allocated directly lo such activities and those costs of an indiiecl nature necessary to support Ihern. Page 10
Devon and Cornwall Furniture Reuse Project Notes to the Flnancial Statements for the Year Ended 31 December 2023 Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent wf(h the use of resources, for example. allocating property costs by floor araas, or per capit8, staff co818 by the lime 5p8nt and other c08ts by their usage. Tanglbl8 Ilxod assets Tangible assets are Initial recorded al c081, and subsequenlty stated at cost less any accumulated depreciation and impairmenl10s8es. Any tangible assets carried at revalued amounts are recorded at the fair value at the dale of revaluation less any subsèquent accumulated depreci8tion and 8ub8equ8nt accumulated impairment1088es. An increase in th& carrying amount of an asset as a result of a r8valualion, is recognised in other r¢eognised gains and losses, unless it reverses a charge for impainnenl that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as o resutt of revaluation. is recognlsed in other recognised gains 8nd 1088eS, except lo which il offsets any previous revaluation gain. in which case the loss is shown within other recognised gains and losse8 on the statement of financial aclivilies. Depreclatlon and •mortl$atlon Depreeiation is calculated so 88 to write off the co81 or valuation of an as881, less its residual v8lue, ov8r the usefvl economic life of that a88el a8 follows.. Aosol clas• Motor vehicles Computer equipment Dèprèclatlon mèthod and rate 10Qh slraighl line 150k 8lr8ighl line Cash and cash oqulvalents Cash and cash aquivalenls comprise cash on hand and call deposits, and other 8hort-l•rn highly liquid investments that are readily eonvertible to a known amount of cash and are 8ubi8Ct to an insignrficanl risk of chang& in value. Fund •tructure Unrestricted funds are available for use al tho discretion of the Irusl•ès lo further any of the ch8rtys purposes. De8i9nat8d funds are unrestricted funds earmarked by thé Irusl868 for particular fvlur8 project or commitment. Reslricled funds are subjected to restrictions on their expenditure declared by the donor or through the lems of an appeal and fall into one of sub-¢Ias$ès'. restricted ineome funds or endowment lund$. Page11
Devon and Cornwall Furniture Reuse Proj•ct Notes to the Financlal Statements for the Year Ended 31 December 2023 Pensions and oth•r post retirement obligations Contributions to defined contribution plans are recognised 88 an expense in the period in which the related service 1$ provided. Prepaid contributions are recognised as an asset lo the extent th81 the Prepayment wll188d to a reduction in future payments or o ¢ash refund. When contributions are not expected lo be settled wholly wf(hin 12 months of the end of the roporting dale in which the emph)yèes render the related seNice, tha liabilty is measured on a discounted present value basis. The unwinding of the discount is recogned as an expense in the period in which arises. Flnanclal instrumènts Recognltlon and measurnment A financial as1 or 8 financi81 Ilabillly Is recognised only when the ch8rily becomgs a paty to the contractual provislons of the in8lTumenl, Basie flnandal Inslrumènls aw initially recognised at the amounl receivable or payable including any rnlated transaction cost8. Current assets and ¢urrenl liabilllies are subsequently me88ured al the cash or other consideration expected lo be paid or recoived and not discounted. Débt inslrumenl8 are subsequently measured at amortised cost. Page 12
Dovon and Comwall Furnlture Reuse Project Notss to the Financial Ststements for the Year Ended 31 Docambor 2023 3 Income from donatlons and legacies Unrestricted funds General Restrlcted funds Total 2023 Donations and legacies.. Other income Grant Income Charrtable Iradlng actSwtv&s {primarily donated goods 17,868 6,888 31.774 9,130 49.842 16,018 109.124 109,124 133,880 40,904 174,784 Unrestrlctgd lunds G•noral Restrlcted fundo Total 2022 Donations and legacies., Other income Grant incom6 Ch8rilable trading aGlivilies (primarily donated goods) 7,793 28,070 7,793 60,646 32,576 85,461 121.324 32,576 153,900 4 Invo•tmeDI Incomo Unrestrlcted funds Gèneral Total 2023 Interest receivable and similar income,, Interest receivable on bank d•po$it$ 215 215 215 215 Page 13
Devon and Comwall Furniture Reuse Project Notes to the Flnancial Statsments for the Year Ended 31 December 2023 O Exp8ndituro on charitable actlvltles Unrestrlcted funds Ggneral Reytrlcted funds Total 2023 Total 2022 Charitable tradlng actilieS staff costs Allocated Support costs 50,214 76.070 8,838 65,665 115,879 76.070 9,729 113,696 53,905 6,469 176.070 891 135,122 66,556 201.678 Actlvlty undertaken dlr•ctty Actlvlty support colts 2023 Charitable trading 8Ctivilie$ 191,949 9,729 201,678 Activity undertaken dlroctty Activity support costs 2022 Charitable Iladlng activrties 167,601 8,469 176,070 6 AD•lysls of support Go•ts Support co$ts •110¢4tod to ¢harltsbh actlvltl•8 Total 2023 Total 2022 A¢¢ounlancy fees Legal and professional Depreciation 4,100 1.198 4,431 3,000 1,103 4,366 9.729 8,469 Page 14
Devon and Cornwall Furniture Reuse Project Notes to tho Financial Statements for the Year Ended 31 December 2023 7 Not Incomlngloutgoing rosourcgs Nel outgoing resources for the year include.. 2023 2022 Depwwtion of fad a88ets 4,431 4.366 8 Trujteeg remuneratlon and expenses No tnjslees, nor any persons connected with them. have receNed any rgmuneration from the ch8rty during the year. No trustees have received any Telnibursed expenses QT any other benefits from the chanty during the 9 Staff colts The aggr8gate payrnll costs wer8 as follow8.. 2023 2022 Staff co$t$ dudng the yearwere: Wages and salaiie$ Pension co818 73.224 2.846 51,678 2,227 76.070 53,905 The monthly aver8ge number of persons (including senior manoggment I leadership team) 8mpk•yed by the ch8rily during the year expressed as full lime equivalents was as lollows.. 2023 No 2022 No Number of staff No employee received employee benelbts of more than £60,000 during the year12022'. Nil). 10 Independenl examlnorfs romunoratlon 2023 2022 Othor fg9S to gxaminorn The examining of accounts of any a880ciate of the charty All other services 1,850 1,250 3,100 1,800 1.200 3.000 Page 15
Devon and Cornwall Furnlture R?u8e Project Notss to the Financial Statsmants for the Year Ended 31 December 2023 11 Tanglble fixed assats Furniture and oqulpment Motor vehi¢108 Total Cost Al 1 January 2023 Additlons 6,573 431 34,500 41,073 431 At 310ecember 2023 7,004 34.500 41,504 Dopreclatlon At 1 January 2023 Charge fof Ihfr year Al 31 December2023 3.218 980 9,723 3.450 12,941 4,430 4,198 13,173 17.371 Net book valu• Al 31 December 2023 2,806 21,327 24.133 Al 31 December 2022 3.355 24,777 28,132 12 Debtorn 2023 2022 Trad¢ debtors Other debtors 100 12,327 12,427 12.310 12.310 13 Credltors: •mounts falllng due wlthln one year 2023 2022 Other creditors Accruals 1,866 3,680 5.546 2,142 3,000 5,142 14 Credltor•: amounts falling due after one year 2023 2022 Bank loans 18,772 19,281 Page 16
Devon and Cornwall Fumiture Reuse Project Notes to the Financial Ststsmenls for the Year Ended 31 December 2023 15 Fund$ Balance at 1 January 2023 Balance at 31 Decomber 2023 Incomlng resources Resources expended Unrestrfct•d funds General Gener81 Funds 1.188 134,095 {135,122} 161 Deslgnotgd Future Sustsinability Fund Total unrestrlcted funds 25,000 25,000 26,188 134.095 1135,122 25,161 Rostrlcted fund8 New Van Wamier Home 4U Welcome Home Spring Home Survlwng Winter Rank Foundation 7,122 21,904 4,190 18911 129,223) 112,339) 19,973) Is.000} 9.130 6,231 333 1,000 7,652 9,149 9.973 5,000 9,130 33,216 66.556 7.564 Total funds 59,404 174,999 201,678 32.725 Page 17
Devon and Cornwall Furnlture Reuse Project Notes to the Financial Statements for the Year Ended 31 D•comber 2023 Balance at 1 January 2022 Balance at 31 Dècember 2022 Incoming resources Rèsources expended Unre¥trlcted funds Goneral General Funds 48,561 121,324 1168.6971 1,188 Déslgnated Future Sustainability Fund Totsl unrgstricted fundj 25,000 25,000 73,561 121324 168.697 26.188 Rostrlctod funds New Van Warm8f Home 4U Welcome Home 8,013 18911 13.241} 3,241 7,373 7,122 21,904 4,190 33,216 25,145 7.431 32.576 8,013 Total fundi 81.574 1 $3,900 176.070 59,404 Ngw Van - Grant funding from National Lottery Awards for All and Plymouth Dispensary Trust towards purchases of new van. Wam7er Homo 4U - Grant funding from Plymouth Clly Council towards energy, warnlh and other essentials, Wolcome Hom& Grant funding from Screwfix Foundation towaTd$ c0515 of building th• new 'W8lcome Home, room. Spring Home - Grant funding Irom National Lollery Awards for All towards the pur¢h•$6$ of brand new items. with the exception of larg• whrte gId3. Suniiving Winter. Grant fundlng from Comwall Communty Found8110n. Rank FOundatn - Grant funding from the Rank Foundation towards core ¢o$t$ only. Page 18
Devon and Cornwall Furnlture Reuse Project Notes to the Financial Statemonts for the Year Ended 31 December 2023 16 Analysis of not •ss•ts batwoen funds Totsl funds at31 Dgcember 2023 Unrestrfctsd funds G•noral Rostrlcted funds Tangible fixèd a88èt6 Current assets Current [bIlitIeS Cr8dilors over 1 year Tol81 net 8ss6ts 17,902 29.577 15,546) 16,772 6,231 1,333 24,133 30,910 {5.5461 16,772 25,161 7,564 32,725 Total funds at31 D•c•mbgr 2022 Unr8strlct•d funds Goneral Re•trlct•d funds Tangiblè fixod assets Current assgls Current liabilities Creditors over 1 year Total nel asset8 21,010 29,601 15,1421 19,281 7.122 26,094 28.132 55.695 15.142) 19.281 26,188 59,404 17 Rolated party transactlons During the year the charrty made th• following rel8led party Iransaclions.. On 1 January 2013 thè aclivrtieg of Plymouth Furniture Reuse Project Limited (company number 071543671 were trgn¥ferred lo this eharfly. The company recharged expense8 at a cost tolalling £13 12022.. £131. No 8mounls were oulslanding al the year end12022.. £Nill. At the balance 8heel dale the amount due was12022 - £Nill. Page 19