Registered Company Number 02427258 Registered Charity Number 1151578 Forest Recycling Project Limited Report and Accounts for the year ended 31 March 2021 Iiuilliii I •JAIZWB7L 09112r2021 COMPANIES HOUSE A16
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Forest Recyclin8 Projert Limited Company Inforniation Status Forest Recycling Project Limited is a re8lStered charity and a company limited by guarantee and not having share capital. Directors The directors of the company (and trustees of the charity) for the year 2020121 were= Jo Winyard {Chair) Thomas Fox (Company Secretary) Mona Vakil ITreasurer) Nicola Hughes Eleanor McDougall Members of the Board of Trustees are trustees for the purpose of charity law and directors for the purpose of company law. All of the directorsltrustees are volunteers who do not receive remuneration. Registered office 2c Bakers Avenue London E17 9AW . Independent examiner Waqas Hussain ACCA 10 Knebworth Avenue London E17 5AJ Accountants Brooktield & Co 18 Concanon Road London SW2 STA Registered company number 02427258 Registered charity number 1151578
Forest Recycling Project Limited Directors Report for the year ended 31 Marth 2021 Introdurtion Forest Recycling Project Limited {FRPI is a registered charity and a company limited by guarantee. FRP meets environmental challenges with solutions that provide local benefits on both an individual and a cornmunity level. th FRP was incorporated on 28 September 1989 and is 8overned by Articles of Association that were adopted on 16 January 2013. We are based in Waltham Forest, East London. At FRP we work with individua15. communities. not-for-profit organisations and other companies to meet our objectives. The trustees here present their report and accounts for the year ended 31st March 2021. The accounts comply with the accounting policies set out in note l of the accounts and with the Charity Commission's 2015 SORP {Statement of Recommended Practice- Accountin8 and Reporting by Charities). Chalrfs Report on the year 2021>21 After a year of surviving a global pandemic, we are proud and fortunate to be able to positively reflect on the financial year ending 31st March 2021.. Our organisational resilience was largely down to our staff and volunteers. We want to say thank you to our incredible staff and volunteer team. Without their resilience and adaptability we would never have managed to deliver and adapt our work in such challenging circumstances: whilst maintaining an excellent service to the community- We would also like to mention a big thank you to our funders, The National Lottery Community Fund and William Morri5 Big Local, without whose flexibilFty and generosity we would not have come out of this year as strongly as we have and been able to continue to deliver our work to make the borough greener and more inclusive as well as achieve greatef impact. Despite the challenges that the pandemic presented. a great deal was achieved throughout the year. Below are just a few of the highlights. Direct Covid response. From the early stages of the pandemic, we collaborated with local organisation5 and helped the community to come together to fight covid and sUPPOrt each other. We used our Shop space for emergency food distribution with local food projects at the Hornbeam. We put on free online mask making workshops for the local community, bringing people together safely to help them to protett themselves and others in a greener and safer way. We also held workshops to make free washbags from recycled fabrics for NHS staff. Adaptingour working model. With both the retsil side of our delivery and our work with volunteers being significantly affected, we had to adapt our delivery model and become more
resilient in the face of the pandemic. After consultation with staff. we did not furlough anyone as the preference was to keep working and we adapted work plans from day to day operations to future proofing the organisation and moving as much of our work with volunteers as po55ible online. Volunteers were supported and engaged through online sessions, with packs of materials being sent out to their houses. and social distanced sessions organised when restrictions allowed. We also concentrated on addressing the backlog of paint in the warehouse. safely disposing of 5CKJO tonnes of waste paint, as well as refreshing both retail sites. These changes allowed us to use our space more effectively for retail and volunteers and to be ready to respond to future opportunits'es. Green Champions impact. Green Champions is our excellent peer-led learning model, providing volunteer pathways to build people's skills and confidence. leading on to employment and new opportunities. Our Green Champion volunteers are the heart and soul of FRP and we are proud to report that after conducting a wellbeing survey in March 2021. 100% of volunteer5 surveyed said that their engagement with the Green Champions programme improved their wellbeing during the first year of the pandemic (more detail of which can be found on page 121. Tool Library opened. After a cautious start in a covid safe way, the Tool Lending library opened and by the end of March 2021 was fully operational with 46 Community Members borrowing tools for personal and community projects. and a number of people donating tools as well to make the project possible. Strategic review. We took time to review our 3 year strategy at its halfway point in July 2020. This was done to review progress; - check in on its relevance against the rapidly changing external covid environment.. and to start to think about planning and str3te8y going forward. We found that we had made good progress. our work was even more levant in the current climate and we set priorities for the next 1.5 years to feed into bigger plans going forward Imore information of which is below): Looking ahead The year was not without challenges and we have continued to listen and learn along the journey, building resilience into the organisation along the way. We105t significant income from having to close our retail operations, which was cushioned by securing government covid sUPPOrt grants. but we will be looking to diversify our income streams further and build upon our retail operations. From our strategic review our short term priorities are l. Develop and diversify our volunteerlng and skills opportunities. There has been some Eood diversification in this area with the Tool Library but we would like to develop more opportunities in retail and provide qualifications for the skills gained. 2. Address backlog of paint in the warehouse. Good progress has been made in this area. bLrt there is more to do. This will open up more opportunities to use space differently, provide more volunteer workshop spaces and make us more agile and ready to respond to the potential OPPOFtunitie5 of a new site.
- Retail improvements. We need to reach a greater customer base through online trading and better communications- increasing sale5 of paint- stabilisir$8 Scaffolding supply: and developing new fabric model5.
- Greater presence In the community. We need to spread the word about who we are, what we do and how we do it better. These 4 priorities will feed into a new strategic plan in 2022 which is currently being developed. This will build on our greener and more inclusive model. We are lookin8 forward to making more impact both environmentally and socially over the coming years. Jo Winyard, Chair of Trustees for the year 2020121, December 2021
Trustees and Workforce Team in 2020121 Board of Trustees (Dirertorsl Chair: Jo Winyard Company Secretary: Thomas Fox Treasurer". Mona Vakil Board members: Nicola Hughes, Eleanor McDougall Staff Chief Executive: Ali50n Griffin Operations Manager tojuly 2020: Scott Taylor Retail and Operations Manager from September 2020": Gosia Rokicka Retail and Admin Assistant to August 2020: G05ia Rokicka Paint Worker.. Clive Henry Driver and Paint Assistant: Les Nicholas Green Champions Project Manager, Carpentry Lead and Desi8nated Safeguarding Officer.. Greg Dickson Green Champions Project Mentor and Fabric Lead.. Elizabeth Salazar Retail Assistant from January 2021= Emily Palmer Volunteers The staff work with, and are complemented by. a fantastic team of volunteers, whose contribution 15 greatly appreciated. We extend immense gratitude to all ourvolunteers for their time, commitment, work and enthusiasm over the past year, and the Board of Trustees acknowledge and greatly appreciate the contribution of each individual who has given their time to us. Governance and Management The trustees work closely with the Chief Executive. who is responsible for the day-to-day mana8ement of the organisation and overseeing the staff team. Trustees Idirectorsl meet at least four times a yearto considerthe activities of the organisation, and typically every two months. Additional electronic meetings and discussions and approvals by correspondence are often held in between these time5, plus the chair and trustees have contact with the Chief Executive and staff team regarding projects on which they are working between meetings. In 2020-21, pandemic conditions meant that trustees met virtually, using Zoom or Skype as their plarform. Trustees can be appointed to the Board by the other trustees at any time. The appoSntment of any new trustees is decided and approved by all existing members. New trustees are briefed on their legal obligations under Charity Law, the decision making processes, the business plan and the recent performance of the charity. They also meet the stsff team. Trustees are encouraged to attend appropriate external training and events where these will facilitate the undertaking of their. role.
Annual Report on the year to March 2021 Forest Recycling Project Limited's Aims FRP'S aims are the protectton and preservation of the environment forthe public benefit by.. The promotion of waste reduction. refuse reclamation, recycling, re-use and repair of recycled products. Education of the public about all aspects of waste generation. waste management and waste recycling. • Working together with marginalised members of our community to promote 5UStainable living and improved mental health. Forest Recycling Project Limited's Objectives FRP'S solutlon to improve local sustalnable Ilving: At FRP. our main operational area is reclaiming, repurposing and affordably selling waste material that would othenvise fill and pollute local landfill sltes, and working alongside and supporting volunteers in this work. The three main products we recycle are paint, timber and fabrics. We: Reclaim: We take waste items of unwanted paint. timber and fabric. along with waste paper, and we stop them entering local incineration and landfill sites. Repurp05e: Paint is checked. sorted and sometimes re-mixed. Timber is cut. sanded and oiled and is used in a variety of ways. including to build items to a551St the biodiversity of local ecosystems such a5 habitat boxes and planters. Fabric is sorted and sometimes Used for crafting/upskilling workshop5 or sold affordably as bundle5 to local schools. Re-sell: We sell a growing range of recycled and repurposed products. offering a cheap alternative to mainstream 'green' produtts. This ensures all sections of the community. as well as accessing unique products. can afford sustainable living.
The Impart and Value of Forest Recyctin8 Projert Limited's Work .At FRP we monitor the impatt of our operational work through environmental savings. We are also developing impatt measurement for the social benefit of our work. The weight of reclaimed paint, timber and fabric is measured. Wherever possible. this measurement is converted to the C02 emissions that would have impacted our environment if this material had been wasted. In this way, the impact of FRP'S operations can be presented as the carbon footprint saved. We detail the impact of our work across our different operational areas below. There are wider positive environmental impacts to FRP'S work: Reclaimed materials ensure valuable resources are consepied. The prevention of additional landfill or incineration of waste reduces the risk of soil and water contamination. FRP's work increases awareness of the environmental and economic benefits of reducing. re-using and recycling waste. FRP'S work with volunteers and the public enables and empowers people to take environmental action. FRP'S collaboration with donor businesses enables corporate action to support the environment and the community, and raises awareness within their teams. FRP'S Work Wlth Paint Every year in the UK over 320 million litres of paint are sold. Of these. it is estlmated that 50 million litres are unused. stored in homes or garages or thrown away. FRP'S view is that unwanted paint is a resource that can be used to transform local environments, whether through providing an affordable way for low-income households or charities to redecorate, or supporting local artists to create beautiful cornmunty murals. Paint business model: Reusable paint is reclaimed from recycling centres or commercial companies. At the FRP warehouse, our team of staff and volunteers sort, quality check and re-mix the paint. ready for redistribution. The paint is sold as a sustainable, low-cost alternative to the general public. through our two retail outlets- our paint shop in Walthamstow and our paint warehouse in Leytonstone. On.avera8e, each litre of reclaimed paint is £3 cheaper than the new equivalent- and further discounted paint is 3150 offered via different schemes to= Charities, community groups and not-for-profit organisations Housing associations Council housing tenants ' https.'Ilcommunityrepaint.org.ukl
Paint impart 20221. Our paint operation was affected by prolonged lockdowns. In April and May 2020 we followed strict lockdown rul'es and neither collected nor distributed a'ny paint. From June 2020 onwards we have been .collecting but our sales and distribution abilitFes were limited by further re5triction5. A5 a result, we did not sell any paint in June 2020 and from January to March 2021 which is obviously reflected in the . figures below. Paint collected= 18.061 litres Paint distributed:. 6,944 litres Representing 3S.26 tonne"s of C02 savings 5000 litres of unusable paint derived from a clearout of our warehouse, which was safely disposed of 2020-21 was a year marked by lockdowns and restrictions. The safety of our staff,,volunteers. customers and visitors is always our highest priority, but this year it W35 a very pressing concern. Therefore our work was very modified. and for periods of time FRP was not open to the public and collections were not possible. When the shop and the warehouse were open. this was done in a Covid-safe way. which reduced our capacity but kept everyone safe. Meanwhile. throughout the year. when staff were able to come into the premises in a managed way land particularly those team members who were not able to work from home). our focus was on organising our paint for sale and also for necessary disposal of unusable paint, puttin8 us in a position for much higher impart in future. FRWS Work With Timber Reclaiming scaffolding boards can have significant benefits to the economy and the environment. In 2019. it was estimated that just 60% of the UK'S waste wood was recycled leaving some 2 million tonnes going to waste. We reclaim and reuse scaffolding boards that are no longer required by industry and building sites: Tlmber buslness model: Building developers and other industry partners donate used scaffolding to FRP. which would otherwise have been sent to landfill or incinerated. The boards are sorted and stored in our local yard and workshop. A small proportion of the reclaimed wood is sold on to local customers in its basic state. The majority of the timber is repurposed by FRP'S team of staff and volunteers. who cut the wood to bespoke size. sand andlor oil it to be sold on to the public. Timber is often used in our workshops to create planters. biodiversity boxes or raised beds. This provides added social and environrnentsl benefits in our community, as It creates new areas for green growth. ' https:l/www.hse.goV.uklwoodworkinElc1lng.htM
rimbÈr impact 2020-21: 607m of scaffold boards were sold between April 2020 and March 2021. Assuming a weight of 5kg/m. this equals 3.04 tonnes of scaffold boards. Using the most conservative figure for calcu13ting C02 savings (which is compared with using new wood). this equals 895 kg of C02 saved (based on 295k81tonnel. If we take into account the 165m {825kg) of wood that we know has been sanded andlor oiled for indoor use by our Green Champions. we know that this wood has effectively become a carbon store until it is disposed of. This represents a further saving of 409 kg per tonne- 337kg of C02. Further C02 savings would also have been created where buyers have kept boards. inside long term {such as any they have made into furniture). The positive carbon impact was therefore an estimated minimum of 1.23 tonnes of CO2. As with paint, our abilityto work with and use or sell timber was profoundly affected by the lockdown condition5. As described above, we were closed to customers. working With social distancing, and severely restricting the number of people we could have on Site, in order to keep everyone safe. Donor companies were also closed for parts of the year. and preoccupied with their own highest prioritie5- we highly appreciate all the donations they did manage to make. Timber, however. was a product that we were able to sell and distribute using 'click and collect. during the latter part of this year, which proved very successful. and we plan to continue to offer this service in future. FRP'S Work With Fabric Greenpeace statistics suggest that globally. an estimated 4LX) billion square metres of fabric is produced annually, of which 60 billion square metre5 will immediately end up on cuttbng room floors as waste lan area four times the size of London!). Much more becomes waste, or sits stored and unused, further down the supply chain. The wasted fabric is all sent.to landfill, incinerated or sits unused. FRP believes that any fabric cuts are useful resources with potential for local reuse. FRP commenced a pilot projett in January 2018 to reclaim unwanted fabric in our community. and we have continued to develop this. The aim is to reduce the impact of wasted fabric on landfi'll and C02 emissions. and to sort and repurpose the fabric so that it can be sold back into the community. Fabric business model: Sole traders and businesses across London are invited to donate, or offered a collectFon service. for their waste fabric5. Donor5 have included interior designers. fashion designers. furniture companies, film production companies, theatres and upholsterers. . Donated fabrics are weighed and sorted by volunteers into fabric type Iman-made or naturall and into colour and tone. The processed fabrics are sold individually to the community at affordable prices, and to community organisations and schools via our membership schernes. Our quarterly fabric sales becamè so popular that we started running them monthly.
As we have developed this project, we have started to train volunteers with sewing skills and knowledge of fabrics,"and to support and mentor them in making and developing produtts for themselves and for sale. We have also developed a programme of community workshops. Fabric impact 2020-21: • FRP sold around 116kg of fabric. diverting it from landfill. this year- equating to around 0.52 tonnes of C02 savings. Additional impart and savings came from using donated and reclaimed fabrics for events and workshops, although these were greatly reduced during this year, and forfabrics projects such a5 facemask making and scrubs and wa5hbags for the NHS - an estimated further 20k6 of fabric. equating to a further 0.1 tonnes of C02 savings. As with paint and timber above, our work wtth fabric has been seriously impacted by the pandemic in this year. We have done what we can. when we have been able to be open for retail andlor socially distanced volunteers. and we have done as much preparation as possible in between, often working from home and with volunteers on Zoom and by correspondence. FRP'S Work With Volunteers FRP'S operations and impact have always been made possible by working in collaboration with volunteers and the wider cornmunity. In particular. the processes of handling and repurposing the reclaimed materials are led by our skilled mentors, but predominantly carried out by volunteers. We particularly welcome and support volunteers who are more marginalised in our community. and who can benefit most from our supporte programmes- and who in turn make a fantastic contribution to ourcharity's work. Our team of staff and volLtnteers work closely together and the unique skills and attributes that each individual brings are valued and fostered. Green Champions This year represented the second year of three of our Green Champions projett, kindly and generously supported by The National Lottery Community Fund. Green Champions 15 about encouraging and facilitating a positive life change. through volunteering and learning skills with our environmental charity. We want to take people who sit on the edge of our communFty and ask them to lead in this tremendously important transition to a green economy. Being part of the solution is immensely powerful when you are used to being seen as a problem. Building on learning from Waltham Forest Foundations. Green Champions also now enables and encourages some volunteers to stay with FRP for an extended period to further progress. and with an ultimate aim that IO% will 8ain roles in the green economv. io
Dedicated project officer time is enabling us to build links and relationships with referral organisations. including those that deliver social prescribing and local mental health support services, so that we can reach some wonderful new volunteer5 With UTTrique contributions to bring. and who stand to benefit from the inclusion and opportunities that supported volunteering tan offer them. Each Indlvidual volunteer registered to the projea comes to FRP each week for three months. during which time they learn about how to work with reclaimed materials and develop their contribution to the harity and the environment. In a number of instances. we knowthis has helped them to gain paid employment. and in many cases we have tracked with volunteers the direct improvements that volunteering with us has brought to their confidence. self esteem and general mental health. Over 60 adults participated durin8 the firstyear of the project. many of whom were vulnerable or marginalised in some way. Each volunteer undertook a pathway and developed skills in one of.. Carpentry Fabrics Conservation Collecting. mixing and delivering unused paint Sellin8 recycled goods in one of FRP'S retail outlets Unfortunately, as year one came to an end, lockdowns and restrictions hit and throughout year two~ April 2020 to March 2021- continued to challenge us. Our volunteers and team rose to the challenge, with online innovations. new ways of working. making our programmes more flexible. and focussing on the possible and the important aspects of the pro8rammes that we provide. Throughout the year, we were enormouslythankful for the sUPPOrt and flexibiltty of our funder, The National Lottery Community Fund, with whom we were in regular contact. We are also really appreciative of all of the Green Champions who stayed with our programmes. supported each other, and meant that we could still achieve a lot- even when, so often, everyone was doin8 so from home. Examples of delivery and innovations in this year are: Face mask making workshops from early in the first lockdown. using Zoom. and later delivered to the wider public. Delivering reuse fabrics and prepared carpentry kits for home working on workshops that we delivered virtually. Select fabrics that we were able to donate, and volunteer and staff created fabric products, for supporting the local NHS with vital supplies, such as washable scrubs. Socially distsnced volunteer workshops between lockdowns, with extensive planning for everyone's wellbeing and safety. Introducing the Walthamstow Tool Library as a Green Champion activity. We are hugely grateful to The Natlonal Lottery Community Fund for their support. li
Volunteering programmes Impact 2020121: In 2020121, the Green Champions programme participation w35 adapted and reduced in numbers by the pandemic. but comprised nonetheless.. Fabrics 12 people Carpentry 13 people Paint 5 people Conservation 6 people Tool Library 6 people Retail and Admin 2 people We carefully tske confidential wellbeing data and assessments of everyone who enrols onto the Green Champions programme. so that we can monttorthe contribution that the programme makes to their wellbeing. A crucial part of this is reassessing wellbeing when they complete their programme. However, as the year erbded most of us were experiencing diminished wellbeing because of the pandemic and its restrictions. So in March 2021 we conducted a special wellbeing survey to gain feedback and data as to the specifi'c impact of this year's engagement on our Green Champions, wellbeing. Has your work and volunteering with FRP helped your wellbeing this year? A great Oeal Abil No Other .12
"The most important aspect has continued to be the supportive and encouraging stsff at FRP. across the board, they have all been an invaluable source of positive input. I was also given the opportunity to learn to make covid masks which I got a lot out of, both in terms of learning something new and feeling like.1 was doing something useful. I was particularly unwell at the time as well, and the patience and kindness of the tutor really helped me a great deal. beyond the practical task itself, in giving me confidence and feeling valued." "Being able to learn new skills and share knowledge with tips on varying topics has been therapeutic. I also look forward to this as a means to volunteer my time for a worthy cause." "FRP has helped my mental wellbein8 and kept me produttive.. "I really appreciated being able to get involved in the paint warehouse and get to know the lovely team there. Thank you for being so welcoming and taking the time to share your knowledge and experience with me." "You guys do a stellarjob and thanks forthe unwavering support." "It was helpful to have fabric delivered as I haven't gone to shops & am avoiding public transport." "I would like to empha5ise what an important. pivotal role in my wellbeing that FRP and all their staff have had for me, over the duration of my involvement with them." Green Office In addition to FRP'S three main reclaimed products. we also offer a paper recycling service. Paper buslness model: FRP collect5 office paper for recycling from small businesses and not-for-profit organisations within. our locality. The paper is taken to 3 local paper mill to be fecycled. Paper impact 2020121: Within the year, FRP collected and recycled2.OOOk8 of paperfrom local businesses and charities. 13
Delivering Through Partnerships FRP recognises that the best way to achieve its charitable aims and objectives and to secure real impact in the community. is often to work in partnership with others as well as participating in community events, and welcomes the opportunity to do both. FRP continues to actively seek new partnerships that will be mutually posirive and offer further environmental and social solutions. We would like to work with more community organisations to create innovative solutions to complex problems. In addition, FRP is always keen to collaborate with a wider selection of private companies who will donate their reusable waste materials to us and improve their own environmental impact. In this particular year, partnership working was hard because of restrictions, and much that had been planned, or which had been done in previous years. didn't take place. We are very grateful to all our partners for continuing to develop relationships with us. often deferring and expanding on plans for post-pandemic working. Walthamstow Tool Library - Worklng witii William Morris Big Local FRP is delighted to have been partnerin8 With William Morris Big Local (WMBL} to deliver on their greening and community engagement projects for the William Morris Ward area of Walthamstow. Walthamstow Tool Library is a pilot project to develop and deliver a local tool lending library, particularly for garden tools, with the desire that it can become a local greening hub and build on what wa5 Started with a 'Greener Together. partnership project. The project was launched in the community in summer 2020 - limited but not thwarted by the pandemic conditions. as we ensured we started it in a covid-safe way. As at the end of March 2021. it was ready to fully launch and realise its potential. Meanwhile some 46 members of the community had joined. borrowing tools for personal and community projects, and a number of people kindly donatinB tools as well to make the project possible. This will be a great project in terms of both its social and environmental impact. We are committed to supporting it to the end of 2021 and potentially beyond. Community Repaint network FRP is a member of the Community Repaint network. This gives us the benefit of being part of a network of reuse paint outlets and the expert support of the small team at Community Repaint, for which we are very grateful. They also promote our outlets and signpost potential bulk paint donors to us. Solar Panels FRP continues to host an array of solar panels on the roof space at 2c Bakers Avenue as part of the GREEN community share initiative. From 5th April 2020 to 2nd April 2021. 1270 Kwh of solar electricity was generated through the panels, corresponding to a saving of 0.29 tonnes of C02 equivalent. 14
Flnancial Revlew Income for the year amounted to £216.'458 (2020- £223.027). £96.797 of which was unrestricted12020- £112,106). Expenditure of £181.46112020: 168.6101 resulted in net incoming resources for the year of £34.99712020: £54,417). FRP seeks to develop its business artd charitable income. to diversify its income and to always seek to keep costs to a minimum. Prudent financial management is extremely important to us. Thi5 IS vital to underpinning the work of the charity. and supporting the strategic aims and vision. At March 2020, we were delighted to have achieved our reserves target of 3-6 months of running costs held in reserves. and we have maintained this having increased our reserves in 2021. The retail closures and limitations of the pandemic significantly undermined our ability to earn business income. However. we successfully applied for the award of government grants to compensate for retail closures, including the zeroing of our business rates for our retail premises for this year. and these were a huge help. Enormously SUPPOMve too was the continued grant income from The National Lotterv Community Fund. and their agreement and encouragement to let us deliver in a flexible and responsive way. As a result. as well as continuing to delwer charitable and retail activities in as much as we were able. we have been able to report a positive financial posits"on. FRP ha5 worked hard in recent years to make significant positive cultural and operational changes at all levels, to both improve our finances and build on existing beneficiary outcomes. We have a range of income generating activities. allowin8 US to work with a variety of partners and reduce our financial risk, alongside successful and ambitious grant fundraisin8. Developing further income streams and partnerships is an ongoing priority within our organisation, as we look to the future. Reserves Policy and Reserves Position It is the policy of the charitable company to maintain reserrfes of the charitable company at a level to provide sufficient funds to cover unforeseen circumstances..The Reserves Policy of the company, as reviewed and updated in 2018 by the trustees {directorsl, and reconfirmed since, is that the trustees maintain that it is appropriate to rnaintain free reserves of approximately 3-6 months of overheads. The important aim at this juncture was to build reserves up to comfortably within the target range, and to actively work towards this by diversifying and building income sources. In 2017-18 the free reserves at year end were £220. in 2018-19 they were £12.133. in 2019-20 they were £66,550- the achievement of the reser4es that we set out to build. for the security of the charity. at between 3 and 6 months of wnning costs. This year we have sustained our reserves within our policy in spite of the challenges, closing the year in March 2021 with £101.547 in reserves. This is alongside all of the charitable activity and environmental impact, as described in this report land in previous years). It allows us to go forward, in ongoin8 uncertain times in terms of income fluctuations and the ongoing and unknown further effects of the pandemic, with security for the charity and its work. We are immensely grateful to all of our stsff. volunteers and supporters for enabling FRP to achieve this reserves position in recent times. and proud as trustees that we have worked with them to guide the charity to this position of much greater security and prospects for the future. 15
Investment policv The objectives of FRP'S Investment Policy are: to ensure that the funds at FRP'S disposal are managed effectively, to meet the operational needs of the charity. and to reduce liquidity risk. FRP also has a financial objective to increase income generating activities to provide increased fi'nancial stability. The Trustees of the charity are responsible for making decisions regarding investment matters. FRP is currently operating with a surplus. but is reliant on several large grants to fund expenditure. There can be uncertainty over grant income and the timing of cash receipts and therefore it is important that as5et5 are readily available to fund operations in times of uncertainty. FRP currently holds assets in cash where possible to fund operations. There are currently no non-cash investments and no assets available for investment. Cash is held in readily accessible current accounts. In such a case in the future that working capital substantially exceeds the needs of FRP. the investment policy will be reconsidered by the Board of Trustees. If and when this happens, the risk appetite, investment type, decision hierarchy. and investment management will all be conSided and defined. Rlsk Management The tru5tee5 Idirectorsl are aware of their obligations to make a statement in respect of the management of risks faced by FRP. The trustees regularly review potential risks associated with the charity's activitie5 and the following risks are currently identified= Finance The key risks facing the charity, especially in the current economic climate, relate to income generation. We have been building and diversifying our sources of income in order to manage this risk and we are working on building our earnings as a priority, alongside grant funding. We are really delighted to be in receipt of a current grant from The National Lottery Cornmunity Fund to 5UPPOrt our core work with volunteers and recycling. and to have been eligible for retail premise5 lockdown grants {a range of Local Restrictions Support Grants and Closed Businesses Lockdowo Payments) from the govemment in the course of this year. We have meanwhile achieved and sustained our important goal of.holding at least 3 month5, running cost5 in reserve5 to underpin the future work of the charity. 2021122 holds the prospect of a review of our strategy. our retail and our fundraising. to build and reinforce our foundations for the future. and this will be a priority for the Chief Executive and the trustees. Covid-19 The Covid-19 crisis and accompanying lockdowns have represented many risks to FRP, as to the whole community in which we operate. We have had to close our retail outlets. representing a loss of all retail incorne- and to this end we are enormously grateful to our other funders and donors who bolster our position as a charity. Staff and their families are at risk from the virus. and from the challenges and stresse5 that the new situation has brought. and we have been doing everything that we can to support them. Our volunteer programmes have had to temporarily close more than once. with us seeking to offer support to each volunteer and Green Champion remotely, and put virtual training and meetups in place for all those who wish to join them. As we go into 2021/22. we continue to assess for risks and put 16
safety measures in place. following all guidelines and recommendations, to continue to,look after everyone and make sure that our work can continue as safely as possible. Heafth and Safety All staff receive up-to-date Health and Safety training. and we undertook a thorough review of our Health and Safety policies and ProdureS in 2020. implementing a number of improvements. In this year, we have done a lot of work around Health and Safety around Covid-19. including regular risk assessrnents and views, checking and following of gvideliThes, extra training for staff and a range of new protocols. Safeguarding of vulnerable adult service users and our staff members All staff have undergone safeguarding training and FRP has invested in an employee support programme with Education Support Partnership. which provides mentsl health and wellbeing support face-to-face and over the telephone. We have updated our safeguarding policy and will continue to.review this regularly. We undertook a thorough review of our Safeguarding Policy and Procedures this year and trained the staff in them. GDPR Training has been undertaken by senior stsff and the appropriate policies are in place. These policies are reviewed regularly and will be updated when appropriate. Liabilities FRP'S operational work sometimes necessitates the disposal of paint which is unusable for re-sale. This paint poses a liability risk to FRP. FRP has steps in place to reduce the collection of unusable paint in the first instance. Procedures are also set up to ensu the disposal of any waste paint is appropriate and as environmentally friendly as it can be. Employees FRP strives to be an equal opportunities employer and applies objective criteria to assess merit. It aims to ensure that no job a'pplicant or employee receives less favourable treatment on the grounds of age, race, colour. nationality. religion. ethnic or national origin. gender. marital status, sexual orientation or disability. selection criteria and procedures are in place to ensure that individuals a selerted, promoted and treated on the basis of their relevant merits and abilities. All employees are given equal opportunities training to enable them to develop their skills and knowledge. FRP is committed to a programme of action to make this policy effective. and brings it to the attention of all employees. FRP is extremely grateful to its team of employees for all their excellent work. . Contribution byi and appreciation of. sUPPOrters The Trustees appreciate the support of all FRP'S funders. partners and supporters, as well as the dedicated staff team and volunteers. 17
Independent examiner Waqas Hussain ACCA has been appointed as independent examiner for this accounting period. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the. '.small companies. exemption. Registered office: Signed on behalf of the trustees 2c Bakers Avenue Walthamstow London E17 9AW Thomas Fox Trustee, Dlrector and Company Secretsry 18
Independent examinerfs report to the trustees of Foresr Recycling Proiect Limlted I reportto the charity trustees on rny exaMItion of the accounts of Forest Recydirvd Project Limited ('the Chariv) for the year ended 31 Marth 2021. Responsibilities and SE5 of report As the CharlS trustees (who are also the directorsof thetompany forthe purposesof company lawl, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 26 Acff). Having satisfied myself that the accounts of the Charsty are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charitys accounts as carried out under sertion 145 of the Charities Act 20111.the 2011 AcVI- In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{S1 Ibl of the 2011 Act. Independent ex•minerfs statement I have Completed ry examination. I confimi that no material matters have come to my attention which gives me cause to believe thaL" accounting remrds were not kept in accordano with section 386 of the Compafttes Act2006; the accounts do not accord with such records: or the accounts do not comply with relevant accountin8 requirements under Section 396 of the Companies Act 21x6 other than any requirernentthat the accounts give a'true and fairf view which is not a matter considered as part of an independent examination" or the accounts have not been prepared in accordan with the Charities SORP IFRS102). 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 rea(hed. Name: Waqas Hussain FCCA Address.. 10 Knebworth Avenue. Waltham5tow. London. E17 SAI Date". 3011V2021 Signed:
Forest Recycling Project Limited Statement of Fin9ncig1 Activities For the year tnded 31 March 2021 2021 2020 Note Restricted Funds Uthrestricted Funds . TDtsI Funds Total Fund$ INCOMING RESOURCES Incoming ruources frnn? generated funds Volunlary Incomc.. grants & donaiions Activities for Generating Funds Investment Income 119,661 64.282 32,481 183,943 32,481 34 139,167 42 TOTAL INCOMINC RESOURCES 119.661 96.797 216,458 223,027 RESOURCES EXPENDED Fundraising Costs Ch8rit8ble 8rtivities Govtrrtanee Costs 119.661 61,050 750 180.711 750 167,085 ,525 Total Resources Expended 119.661 61.800 181,461 168,610 Plet Tncoming Resources Net In¢om¢ for the Ye*r 34,997 34,997 54.417 Total Fullds at the start of the year 66,550 6(550 12,133 Total Funds at the end of the year 101,547 101,$47 66,550 The sratement of financial activities ioclud¢s all gaiLs and 105se5 ID the ycar. All of ihe above amounLS relate to continuing activilies.
Fryest Rewlin8 Prolert Limited StAtement of FinaAclal Posltlon 31 March 2021 2021 2020 . Note Fised assets Tatwble fixed assets Current •5sets Debtors & Prepayments Bank & C&5h at hand 15,632 98.703 12.555 106,875 Creditors: amounts falling due within one yeaT (12.788) (36,198) Net eurrent assets .101,547 70.677 Creth"rors'. anwuDts falling du¢ after more tban one y¢Jr (4,127) Net a5se¢s 101.547 66.550 Funds General Funds 101.547 66J50 TOTAL FUNDS 101,547 66,550 The notes OD p3g¢s 3-7 fonn [rt of these aceounts. For the year end¢d 31 March 2021 the chaiity was entitled to exemprion from audit under section 477 of the Companies Aci 2006 relating to small companies. The mernbers hav¢ not re4uired the charity to obtsiD aTr audit of its accouDiS for the year in qucstlOD in accordance with seciion 476. The Directors ackDowl¢dge their resw>Dsibiiiti&% for complyfftg with the requirements of the Act with respect to accounting records and rbe preparaiion of accounts. Thesc accounts have been prepared in ac¢oTdance with the provision5 applicable to small con]pamies subject to the small companies re8itDe and in accordance with FRS102 SORTr. These fu1¢101 statements were approved by the Members of the Bcpard of Trustees and authorised for issue o the 6th Decernber 2021 and are signed on their behalf by: Thomas Fo% . Truste4 Director Comp*ny S¢eret•ry
Forest Reryclin8 Projert Limited ACCOUNTING POLICIES (a) B&sis of The financial statements have been prepawed under the hiswical com Convention. and in ¢omplian¢¢ with 'The Financial Reponing Standard applÉcable in the UK aTKI Republic of Treland. (FRS 102). the Statement of Recommended Pwti¢e'. Accowiting and RewrtTng by Chan"ties preparing th¢ir a¢¢ounts in accordan¢e with FRS 102 (ChaTities SORP) and the Companies A¢i 2006. There bas been no chatt8e to the aCCOUlltiDg policies (valuation rule5 and m¢thods of 4CCL¥WJtin8) sinc¢ last year. (b) IAg41 $tstu£ Foresi Recycling Proj¢et Litnited is a reBtsteFed charity and a cotnpany limited by guaratttee and bas no share capital. The liability of each rnember.jD the evenE of a windin8•UP is limited to £1. (e) Going Concer Th¢r¢ aT¢ no Material uncertainties alxjui the charity's ability to contitiue. (d) Fund Accountlng- res¢rlded #ad #nrtstrided funds - Unresrricied funds ar¢ those where there are no externally imposed resrri¢tions and are available for use ar the discretion of the twstees in furtherance ofihe general objeclives of the charity. Restricted ndS are subjected to remrictions on theirexpendityr¢ imw)sed by the donor or ihrougb the tem)s of all appeal. (e) liicoming resources All incoming resources are iD¢lJJded in th¢ str1¢001 of fiti3n¢ial a¢tivitie• wbcn the ¢l)arllty is tntitltd to the and the amount can be quantified with reasonable accuracy. The following specific 1]rieS are applied to particular Cagone$ of in¢otllc'. . Voluntary income is received by way of grants, doDations and gifts and ts included in full in the Statement of Financial Activities when recefftvable. Grants, where entitlement is Jjot coDdiliollal on the delivery of a sp¢¢ifJe perfom]ance by the charity. are recogni5¢d wh¢n th¢ charity becom unwnditionally entiil¢d to the grant. - Donated s¢rvices and frdcdities ar¢ included at the value to the charity whthe thts can be quantified. The value of sel¢e5 provided by voluDteers h&5 rM)t been included in these accowkr5. - Inve51ment in¢orn¢ is includ¢d wh¢n rK¢ivable. - Incoming resourccs frotn ¢hatitable tiading aaivity are a¢¢ountcd for wbeo ¢amed. - Incomsn8 resowces from grants. where related to wforniance at)d sptcific deliverablts. are accounted for as Ihe charity e8rn5 the rigbi io colderatiOn by its pttfomlance. (fj Resourees expended Expenditure is recognised on an aecruals basis as a liability is incuTTed. Expenditure includes any VAT which anllot be fully recovered, and is reported as part of the exdI1Vr¢ to w"clI it telates.. Costs of generating fuods cornpti5e the ross associated with attracting voluntary income and the costs of ttadiDg for fvndM"siDg putEXJ5¢S. Cbaritsble ¢xp¢nditur¢ Gompri5¢s ib05¢ costs incurred by the charity ID th¢ d¢livery of ILS activities and seietS for its ben¢ficiaries. It includes boib cosrs that can be allocaied direcily To such activiues and those costs of an indir¢ct nature nec¢ssary to SUPFrf)rt th¢m.
Forest ReQling Pyoject um1t. ACCOUNTING POLICILS (ntInUed} - Governance costs include th(trse eosts alad with meetin8 the cons11110naj and ststuiory r¢qiitr¢ments of the charlty and include the audit or examination costs. and costs linked to th¢ strategic management of the cbariry. - Ail cosis are alloc*ed between the ext¢ThdiDJre cawories ofthe SOFA on a ba$is desi8ned to reflect the use of the resource. Costs relating to a particular actIty are allocated directly. others are apportioned on an appropriate b&sis e.8. Staff costs by lim¢ 5penL per capits or estimated usage as set out in the n(trtes to the accounts. (g) Flxed assets Fixed 2ssets are Sled ai cosi less xcumUlat deprffiation. Dwreciation is calculatcd to write off th¢ w5t of fixed assets less theit estim&ed rt8idual value over their expected useful life OD the followmg basis: oirio¢ equipment.. 25/0 stralgbt line. (h) Operating lease agrtements ReJrals payable under operating leases. where substantially all the tisks and rewards of OWDership remain with the lessor. are charged io the sthtement of finaD¢ial aaiviti¢S OD a strdigbt linc basis over ihe life of the lease. (i) Cash at bank ad ITr band Casb at bank and in hand in¢lud¢5 cash and short tcrnl lu.ghly liqu investsnents with a shon mati]rity Of thre¢ months or less from the date of aulsItion or op¢nin&of the dqM)SÉt Of 5ittular accowit.. IJ) Debtors Trade and other debtors are recognised at the settlement amount due afteT any trade discoiint offercd. Prepaymenis are valued at the amount prepaid after taking account of any trade discounts due. (k) Credltors and Provisious Creditors and provisions are rec08nd where the cbarity has a present obligatioD resulting from a p&st event that will probably result ID the transfer of fillKls to a thi.rd party aud the amount due to settl¢ lh¢ obligation can b¢ m¢a5ur¢d or estirnated reliably. Creditots and provisions are oomjally recogni5¢d #t tb¢ir settletllcnt amount after allow5ng for any. tyad¢ discounts du¢. TOTAL INCOMING RESOURCES 2021 To¢¥1 2020 Totsl Voluntsry Illcome Grants & DongtiOJiS Tb¢ National Lottery Commullity Fund Tool Lendill3 Library WMBL Gaifleld Weston National Government Covid Grdnts Dtsn4tion$ 116J17 3J44 105.421 5,500 25.(rf)O 60,479 3,8113 3,246 Total VoluntAry Income 183 139,167
Forest Recyclin8 Projert Limited 3. Rewurces expended Charitable expendltsre 2021 21120 Admirtistraiion and office ring costs Projeci and direct costs Premises costs Staff and Volunteer Cos(& Other Cos[5 15,699 7957 . 31).985 126,070 7.254 14,577 34.567 110,687 Governfinct Costs Independent ExaThine¢s Fees 750 1.525 Total Costs 191.461 168.610 4. NET INCOMING RESOURCES 21121 2020 This is stated after ¢haTgin8: Rentals under operdting le&ses JndepeDdent ExattiÈneds Fees 24,846 750 22.873 1,525 5. STAFF COSTS AND EMOLUMENrs Thtal staff cos15 were as follows: 2021 2020 Gross pay Social Secwity ¢05ts IllJ64 0,735 101,467 6.821 Tot*l 125.599 108.288 No employee rcceived emoluments of more than £60,IXM) in this or the PTeviou5 year. None of the Trustees received aDy remuneration during the year. (2020.. NAI). 21121 2020. Average number of ¢mploye¢s during the y¢aT was..
Forest Recydin8 Proiert Limited TANGIBLE FIXED ASSETS uipiiieDt Total Cost: At l April 2020 AddiTions At 31 March 2021 25.744 25.744 25.744 25,744 Depreciation: At l April 2020 Chaige for th¢ y¢aT At 31 March 2021 25.744 25,744 25.744 Net book vltse: At l April 2020 At 31 March 2021 7. DEBTOILS AIW PREPAYMEKrs 2021 2020 Trade debtors Grants receivable Other debtors and Prepayments 5,702 10,602 9,930 15.632 1.953 12,555 8. CBEDITORS 2021 2020 Amounts faulng due within oDe year: Trade creditor5 Loan from London Re-use Limited Other Creditors aDd accruals TaxatlOD and Social Security Costs Deferr¢d grants 12,525 9,305 4,043 7218 263 14,448 12,788 36,198 falling due more tbn olle yur: 2021 2020 Loan from Londoll Re-use Limited 4,127 4,127 The loan ¢ame into effect in August 2012. aryl was Yepayable overa n-Ye8T perifyl arsd interest charged at 4Vo per year. This loan wa5 fvlly repaid during the year.
Forest Recycllng Project Limited 9. ANALYSIS OF MOVEMENr IN FUNDS Total Fnds. At l April 2020 Ineoming Owtgoing Traosfers At31 Lkl*reh 2021 Analvsis of m0verne in Funds Re$tricted Fund5 Tool Lending Librdry WMBL The National Liottery Communi Fund Total Restricted Funds 3J44 (3,344) 116317 119.661 116.31 (119,661) Unrestricted General Total UTrre5tricted Funds 66.550 66.550 96,797 96.797 (61.800) {61.8(K>) 101.547 101,547 Total Funds 66.550 216,458 181,461 101,547 Tool Lcnding Library W1BL William Morrbs Big tA)¢al restrict¢d grant for developTTKnt and piloring of a Tool t£nding'Libr8ry in Walthamstow. The L¥ationai Lottery Communiry F.und The National Lottery Commwiity Ful is a r£TICted gTrnt for the FRP Green ChaTnpions Project. 10. DIRECTORS AND RELATED PARTY TRANSAcfioNS There were no payments made during the year to Dire¢ior5 and related parhes (2020". nill.