## **ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 MAY 2021** ## **LONDON RECLAIMED** **(COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NUMBER 1148279 COMPANY REGISTRATION NUMBER 07768745** Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021** ||**Page**| |---|---| |**Legal and Administrative Information**|3| |**Directors' Report**|4 to 6| |**Statement of Financial Activities**|7| |**Balance Sheet**|8| |**Notes to the Accounts**|9 to 16| |**Independent Examiner's Report on the Accounts**|17| ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION** ## **CHARITY NUMBER** 1148279 ## **COMPANY REGISTRATION NUMBER** 07768745 **START OF FINANCIAL YEAR** 01 April 2020 **END OF FINANCIAL YEAR** 31 May 2021 **DIRECTORS AT 31 MAY 2021** Rob Biddulph Ben Dale Tim Powell Phil Wilson Resigned 17th June 2020 The Directors are appointed in accordance with the provisions laid out in the Charity's governing instrument. ## **GOVERNING DOCUMENT** Memorandum and Articles Incorporated 9th September 2011 as amended by certificate of Incorporation on change of name dated 13th March 2012 as amended by special resolution registered at Companies House on 19th March 2012 as amended by special resolution registered at Companies House on 23rd July 2012. ## **OBJECTS** Carried out in accordance with Christian principles of love, acceptance and second chances without distinction of race, sex, political, religious or other opinion as the trustees may from time to time think fit, and are restricted to the following: To act as a resource for young people living in South London and such other parts of London, the United Kingdom or the world by providing advice and assistance and organising programmes of training and other activities as a means of: **(i)** Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; **(ii)** Relieving unemployment; **(iii)** Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons. **REGISTERED ADDRESS** 120 Glengall Road Peckham London SE15 6RR **BANKERS** National Westminster Bank Plc 250 Bishopgate London EC2M 4AA **INDEPENDENT EXAMINER** G W Schulz ACMA Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF 3 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT FOR THE YEAR ENDED 31 MAY 2021** The trustees, who are also the directors for the purposes of company law, have pleasure in presenting their report and the financial statements of the charity for the year ended 31 May 2021. ## **REFERENCE AND ADMINISTRATIVE DETAILS** Reference and administrative details are shown in the schedule of members of the board and professional advisers on pages 3 of the financial statements. ## **THE TRUSTEES** The trustees who served the company during the period were as follows: Ben Dale Tim Powell Rob Biddulph Phil Wilson – resigned 17[th] June 2020. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Legal Status** London Reclaimed is a registered charity, number 1148279, and a company limited by guarantee, company registration number 7768745. The company is governed by its memorandum and articles of association. ## **Decision-making** The Board delegates day-to-day running of the charity to the Chief Executive, Mike Biddulph. Mike meets with members of the trustee board on a monthly basis. ## **Relationships** London Reclaimed started a new community interest company We Are Lumberjack C.I.C. on 8th October 2015. The business is a wholly owned subsidiary of London Reclaimed. ## **Major Risks** We have had continued discussions throughout this year and maintain that our main risks are as follows: Covid-19 pandemic. The continued pandemic has already had a severe impact on our charitable operational output as well as sales across the board. This is an ongoing concern as we move forward. Funding. Our greatest risk is that we will not attract more funding to continue and grow our employment programme. Income from sales is increasing but as an unpredictable income stream other funding streams remain vital, and therefore this continues to be a risk. Sales. We are reliant on sales for a significant portion of our income at both London Reclaimed and We are Lumberjack. Any significant deviation from a normal sales pattern could have adverse effects on our financial situation. Premises. Although we have a medium term lease at London Reclaimed, the area is of high development (industrial into residential.) This has happened to properties on either side of us, and we anticipate that we may need to move within the next two to four years. 4 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31 MAY 2021** ## **FINANCIAL REVIEW** ## a) Reserves Policy The reserves policy is to hold three month's average expenditure in cash. ## b) Expenditure and Income Sales income has again increased on last year. We have an inter-company loan to We Are Lumberjack, who have made several repayments in the last year. ## **PLANS FOR FUTURE PERIODS** To employ a Youth Employment Project Manager to lead, grow and improve the employment, training, and mentoring programme that underpins all we do. To start community consultation, to work out the best way of building an access-to-employment course to run alongside our current employment programme. To remodel the downstairs of Lumberjack, to maximise seating whilst maintaining space and airflow as well as building a small commercial kitchen to increase our food offering and training opportunities for our young people. ## **OBJECTIVES AND ACTIVITIES** ## **Formal Objects as set out in Memorandum 8 Articles of Association** Carried out in accordance with Christian principles of love, acceptance and second chances without distinction of race, sex, political, religious or other opinion as the trustees may from time to time think fit, and are restricted to the following: - To act as a resource for young people living in South London and such other parts of London, the United Kingdom or the world providing advice and assistance and organising programmes of training and other activities as a means of: (i) advancing in life and helping young people by developing their skills, capacities to enable them to participate in society as independent, mature and responsible individuals; ## (ii) relieving unemployment; (iii) providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons. ## **ACHIEVEMENTS AND PERFORMANCE** We developed Lumberjack café into an artisanal grocery store / deli during the ongoing Covid-19 pandemic and were able to provide home deliveries throughout the various lockdowns. We remodelled the upstairs, with custom shelving and display units and when permitted reopened our seating downstairs. We funded and facilitated a remote learning programme for our young people at Goldfinch Furniture, whereby they learnt how to use design software. We also hired one of our Workshop Assistant alumni as a junior designer who has become integral to the core team. We upgraded our Goldfinch workshop machinery, with the purchase of a much larger capacity panel saw and bandsaw as well as buying an industrial edge bander. This has enabled us to expand our furniture range meaning we can now make full kitchens and large fitted pieces. This has broadened our training capabilities with young people and also added an extra income stream to help us deliver on our goals. 5 LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) DIRECTORS. REPORT (continued) FOR THE YEAR ENDED 31 MAY 2021 srATEMENT OF TRU￿EE5, RESPONSIBJLITIES Company L3w requires the trustees to prepare financlal statements for each financial year. Under that law the trustees have eknled to prepare the financkil statements in accordance wfth United Kingdom Generalty Accepted Accounting Wactice (United Kingdom AcccyJnting Standards and applicab￿ lawl. Under company law the trustees must not approve the financkil statements unless they are sattsf*d that they glve a true and falr v￿W of the state of affalrs of the charttable company and the incorne and expenditure of the charStable company for that peri(Kl. In preparlng these flnanclal statements, the trv5tees are requlred to.. Sdect suf(able accounting policies and apply them consistently,. Observe the methods and princlples in the Charities SORP,. Make judgements and accountlng estlmates that are reasonable and prydent,. State whether applicable UK Accounting Standards have been fdlowed, subject to any material departL5res disclosed ènd expkined in the financial statements,. l¥epare the financial statements on the golng concern bas& unless r( Is Inappr¢Jprlate to presume that the Char￿able company wlll tontlnue In Operat￿n. The trustees are resp¢J)sible for keeplng adequate accountlng records that are sufficwt to show and explain the Char￿able company'5 tranS￿tionS and disckjse with reasonable accuracy at any time the financlal posf(k)n of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also rasponsible for safeguarding the assets of the charitable company and ht￿ce for taknng rea50nab steps for the prevention and detection of fraud and other irregLJlarrties. As far as the trustees are aware.. There is no relevant accounting information of wh￿h the charitable company's ReportSng Accountant ks unaware,. The trustee5 have taken all steps that they ought to have taken to make theMSe￿e5 aware of any rdevant accounting information and to establtsh that the Reportlng Accwntant is aware of that inf￿Mat￿. BASIS OF PREPARATION Thi5 report has been prepared ts) acc¢xdance wfch the speci31 provsKJns fv small companies under Pdrt 15 of the Companies Act 2006. I approve the attached statements of financkl act￿￿￿5 and balance sheet for the year ended 315t May 2021, and Confirm that I have made aVaIlab￿ all Infr*mattn necessary for Its prepar3tiM. Approved by the Dirert(xs on the.................................... S¥Jned on their behalf by Director... Prthte(J Name........... ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 MAY 2021** |**Incorporating Income & Expenditure Account**
**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations & Legacies
**3a**
Investment Income
**3b**
Trading Activities
**3c**
Activities for Generating Funds
**3d**
**TOTAL INCOME**
Charitable Activities
**4a**
Costs of Generating Funds
**4b**
**NET INCOME/(EXPENDITURE)**
Total Funds Brought Forward
Prior Year Adjustment
**TOTAL FUNDS CARRIED FORWARD**
**EXPENDITURE ON:**
**TOTAL EXPENDITURE**
Transfer between funds|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2020/21**
**2019/20**
£
£
**£**
**£**
42,342
9,443
51,785
132,507
3
-
3
3
179,154
-
179,154
174,621
40,853
-
40,853
49,945| |---|---| ||**262,352**
**9,443**
**271,795**
**357,076**| ||220,216
9,443
229,659
280,264
106,703
-
106,703
74,429| ||**326,918**
**9,443**
**336,361**
**354,692**| ||| ||**(64,567)**
**-**
**(64,567)**
**2,384**
**-**
**-**
**-**
**-**
112,869
-
112,869
110,485
(0)
-
(0)
0| ||**48,302**
**-**
**48,302**
**112,869**| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 10 to 17 form part of these financial statements. 7 LONDON RECLAXMED (COMPANY LIMITED BY GUARAKfEE) BALANCE SHEET AS AT 31 MAY 2021 UnrestrKted Restrtted Fund Fund Total Total 31-May-21 31-May-20 Fixed Assets Tangible Assets Notes 54,415 54,415 30,310 CunEnt Assets Debtors & Prepayments Cash at t*ank and In hand 23,693 60,023 23,693 60,023 72,762 43,407 Total Current Assets CreditOf5: amounts falling due within one year NEf CURRENT ASSETS 39,829 39,829 33,610 43,887 43,887 82,559 TOTAL ASSEfs less current liabil￿￿$ 98,302 98,302 112,869 Creditows: amounts falling due in more one year 50,000 50,000 NET ASSETS 112 869 FUNDS OF THE CHARITY General Funds Restrlcted funds 48,302 48,302 J 12,869 TOTAL FUNDS 112 869 Dirertorfs responsibilities: For the year ended 31st May 2021 The DirLrtors are sat6fied ttte charfcable company was enlY(￿d to exemption from the requlrement to obtain an audit under section 477 of the Compan￿5 Act 2006 and that no member ￿ members have requlred the company to obtain an atjdit of its acC￿ntS fcf the year in questKM) in accordance with seCt￿n 476 of the Act. However, in accordance with sectk)n 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears after the Notes to the Financtal Statements. The Director{sl acknOW￿dge thelr responsibllity for complylng wlth the requirements of the Companies Act 2006 w￿h respect to accountlng records and the preparatKJn of accounts. The accounts have been prepared in accordance wrth the provisions in Part 15 of the Companies Art 2006 applScab to companies subject to the small companie5 regime and in accordance with the Financial Reporting Standard for Srnaller Ent￿￿5 {effectwe April 20081. The dlrectors acknowledge thwr responsibillty f￿ ensuring that the company keeps proper accountlng records which comply w￿h sectlons 386 of the Act 2006 and fw preparing financial statements wh￿h give a true and fair view of the state of affairs of the company as at the end of the financial year and of ￿S proft and loss for the financial year in accordance with the requlrement of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relatSng to accounts, so far as applICab￿ to the company. 23, Approved by the Dlrectors on the.................... Lf¢ Signed on thelr behalf by Dlrect￿......... TIMOTHY P• LJeLL Print Name: Company RegistratKN) Number - 07768745 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 MAY 2021** ## **1. ACCOUNTING POLICIES** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year. ## **Basis of preparation:** The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011. The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. ## **Assessment of Going Concern** Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. ## **Recognition of Incoming Resources** These are included in the Statement of Financial Activities (SOFA) when: - the charity becomes entitled to the resources; - the trustees are virtually certain they will receive the resources; and - the monetary value can be measured with sufficient reliability. ## **Incoming Resources with Related expenditure** Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA. ## **Grants and Donations** Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. ## **Tax Reclaims on Donations and Gifts** Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Legal Status of the Charity** The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## **Gifts in Kind** Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable. ## **Volunteer Help** The value of any voluntary help received is not included in the accounts and is described in the Directors' annual report if applicable. ## **Donated Services and Facilities** These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## **Investment Income** This is included in the accounts when receivable. ## **Investment Gains and Losses** This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. This page does not form part of the statutory financial statements 9 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021** ## **1. ACCOUNTING POLICIES (continued)** ## **Expenditure and Liabilities** ## **Liability Recognition** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out ## **Governance Costs** Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters. ## **Grants with Performance Conditions** Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified ## **Grants Payable without Performance Conditions** These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity. ## **Support Costs** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital, staff costs by the time spent and other costs by their usage. ## **Pensions** The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. ## **Operating Leases** Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Legal Status of the Charity** The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## **Fixed Assets** Tangible fixed assets for use by the charity, are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt. ## **Depreciation Expense** Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a Reducing Balance over their estimated useful lives. The rates applied per annum are as follows: |Office Equipment|10%| |---|---| |Fixtures & Fittings|10%| |General Equipment|10%| There has been no change to the accounting polices (Variation rules and methods of accounting) since last year. This page does not form part of the statutory financial statements 10 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021** ## **2. TANGIBLE FIXED ASSETS** |Additions
**Cost**
At 1 Apr 2020
At 31st May 2021
**Accumulated Depreciation**
At 1 Apr 2020
Charge for the Year
At 31st May 2021
**Net Book Value**
At 31st May 2021
At 1 Apr 2020|Office
Equipment
Fixtures &
Fittings
General
Equipment
**2020/21**
£
£
£
£
-
44,868
1,259
46,127
1,201
25,665
3,429
30,295| |---|---| ||**1,201**
**70,533**
**4,688**
**76,422**| ||-
15,492
325
15,817
12
5,853
324
6,190| ||**12**
**21,345**
**649**
**22,006**| ||| ||**1,189**
**49,188**
**4,039**
**54,415**| ||**-**
**29,376**
**934**
**30,310**| The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st May 2021 : None 31st May 2020 : None This page does not form part of the statutory financial statements 11 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021** ## **3. INCOME AND ENDOWMENTS** |Note
**c) Trading Activities**
**d) Activities for Generating Funds**
**a) Donations & Legacies**
Gifts, Tithes & Donations
Gift Aid Tax Recoverable
Grants Received
Furlough Scheme
Rental Income
**b) Investment Income**
Bank Interest
Generated Sales|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2020/21**
**2019/20**
£
£
**£**
**£**
9,350
-
9,350
10,300
-
-
-
3,072
10,000
9,443
19,443
119,134
22,992
-
22,992
-| |---|---| ||**42,342**
**9,443**
**51,785**
**132,507**| ||3
-
3
3| ||**3**
**-**
**3**
**3**| ||179,154
-
179,154
174,621| ||**179,154**
**-**
**179,154**
**174,621**| ||40,853
-
40,853
49,945| ||**40,853**
**-**
**40,853**
**49,945**| This page does not form part of the statutory financial statements 12 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021** ## **4. RESOURCES EXPENDED** |Note
**b) Cost of Generating Funds**
Cost of Direct Materials
Rent & Rates
Entertainment
Gifts & Donations
IT
License & Subscriptions
Office Costs
Printing Posting & Stationery
**a) Charitable Activities**
Advertising & Marketing
Bad Debt
Bank & Interest Charges
Cleaning Costs
Consulting Fees
Depreciation Expense
Sundry Expenses
Repairs & Maintenance
Telephone Costs
Governance costs:-
Independent Examiner's Fee
Insurance Costs
Legal & Professional Fees
Travel & Subsistence
Staff Costs
Sub-contractors
Subscriptions|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2020/21**
**2019/20**
£
£
**£**
**£**
2,047
-
2,047
8,023
-
-
-
23,544
(1)
-
(1)
(23)
1,659
-
1,659
1,967
926
-
926
-
6,190
-
6,190
4,073
517
-
517
672
697
-
697
244
1,742
-
1,742
526
290
-
290
163
165
-
165
634
813
-
813
963
68,907
-
68,907
72,470
1,628
-
1,628
4,297
107,434
9,443
116,877
123,696
10,569
-
10,569
20,408
319
-
319
-
1,666
-
1,666
921
992
-
992
884
6,456
-
6,456
7,976
1,260
-
1,260
1,380
4,529
-
4,529
4,888
1,410
-
1,410
2,560| |---|---| ||**220,216**
**9,443**
**229,659**
**280,264**| ||106,703
-
106,703
74,429| ||**106,703**
**-**
**106,703**
**74,429**| This page does not form part of the statutory financial statements 13 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021** ## **5. RESTRICTED FUNDS** ## **CURRENT FINANCIAL YEAR** |The Crowdfunder
Bulldog TST Grant
Funding Network
The London Community|**Balance**
Gains &
**Balance**
**01-Apr-20**
Income
Expenditure
(Losses)
Transfer
**31-May-21**
£
£
£
£
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
5,443
5,443
-
-
-
-
4,000
4,000
-
-
-| |---|---| ||**-**
**9,443**
**9,443**
**-**
**-**
**-**| ## **PREVIOUS FINANCIAL YEAR** |Funding Network
The London Community|**Balance**
Gains &
**Balance**
**01-Apr-19**
Income
Expenditure
(Losses)
Transfer
**31-May-20**
£
£
£
£
**£**
-
16,303
16,303
-
-
-
-
7,831
7,831
-
-
-| |---|---| ||**-**
**24,134**
**24,134**
**-**
**-**
**-**| The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above. ## **6. CASH AT BANK AND IN HAND** |Co-op Current Ac
Natwest Current Ac
Petty Cash
**7. DEBTORS AND PREPAYMENTS**
Sundry Debtors
Loans to We are Lumberjack Café|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-May-21**
**31-May-20**
£
£
**£**
**£**
10
-
10
16,962
59,883
-
59,883
26,445
130
-
130
-| |---|---| ||**60,023**
**-**
**60,023**
**43,407**| ||Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-May-21**
**31-May-20**
£
£
**£**
**£**
16,800
-
16,800
2,655
6,893
-
6,893
70,107| ||**23,693**
**-**
**23,693**
**72,762**| This page does not form part of the statutory financial statements 14 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021** ## **8. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR** |VAT Payable
PAYE & NI
Independent Examiner's Fee
Short term Loans
Sundry Creditors|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-May-21**
**31-May-20**
£
£
**£**
**£**
12,136
-
12,136
14,718
11,274
-
11,274
1,599
2,568
-
2,568
613
12,591
-
12,591
15,300
1,260
-
1,260
1,380| |---|---| ||**39,829**
**-**
**39,829**
**33,610**| ## **9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** |Unrestricted
Restricted
Funds
Funds
£
£
50,000
-
**50,000**
**-**
**10. STAFF COSTS AND NUMBERS**
**TOTAL**
**2020/21**
**£**
Gross Wages & Salaries
109,500
Employer's National Insurance Costs
5,256
Pension Contributions
2,121
**116,877**
Average number of employees who were engaged in each of the following activities:
**TOTAL**
**2020/21**
Charitable Activities
6
Natwest Bank plc Loan|Unrestricted
Restricted
Funds
Funds
£
£
50,000
-|**Total**
**Total**
**31-May-21**
**31-May-20**
**£**
**£**

50,000
-| |---|---|---| ||**50,000**
**-**|**50,000**
**-**| |||**TOTAL**
**2019/20**
**£**
113,772
7,634
2,290
**123,696**
**TOTAL**
**2019/20**
6| No members of staff received emoluments in the range of £50,000 to £60,000. (2019/20- None) ## **11. DIRECTORS AND OTHER RELATED PARTY TRANSACTIONS** During the financial year Mr T. Biddulph (Relation to Director Mr R. Biddulph) received £300 (2019/20:£3,100) in direct labour payments in furthering the Charity's objects. No other material payments were made to directors or any persons connected with them during this financial period. No material transaction took place between the charity and a director or any person connected with them. (2019/20- None) This page does not form part of the statutory financial statements 15 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021** ## **12. RECONCILATION OF MOVEMENT ON CAPITAL AND RESERVES** The Company is Limited by Guarantee (07768745) and it is a charity registered with the Charity Commission (1148279). It does not have a Share capital and has no income subject to Corporation Tax. |Profit / (Deficit) for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at
31-May-21|**2020/21**
**£**
(64,567)
-
**(64,567)**
112,869
**48,302**|**2019/20**
**£**
2,384
-| |---|---|---| |||**2,384**| |||110,485| |||**112,869**| ## **13. RISK ASSESSMENT** The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. ## **14. RESERVES POLICY** The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors will endeavour not to set aside funds unnecessarily. ## **15. PUBLIC BENEFIT** The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors' report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake. ## **16. RELATIONSHIPS** London Reclaimed started a new community interest company We Are Lumberjack C.I.C. (Company Number 09816432) on 8th October 2015. The business is a wholly owned subsidiary of London Reclaimed. This page does not form part of the statutory financial statements 16 ## **LONDON RECLAIMED (COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31 MAY 2021 INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** I report to the charity trustees on my examination of the accounts London Reclaimed for the year ended 31st May 2021 set out on pages 7 to 16. ## **Respective responsibilities of trustees and examiner** As the charity’s Trustees of London Reclaimed (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). ## **Independent examiner's statement** Since London Reclaimed's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of London Reclaimedas required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **…...........................................** G W Schulz ACMA Independent Examiners Ltd Unit 2, The Broadbridge Business Centre Delling Lane Bosham PO18 8NF Date: 23 March 2022 17