FOREST RECYCLING PROJECT Registered Company Number 02427258 Registered Charity Number 1151578 Forest Recycling Project Limited Report and Accounts for the year ended 31 March 2023 Iiiwuiiii •ACHN9518• 0411312￿23 COMPANIES HOUSE Forest Recycling Projert Limited Company Inforniation Status Forest"Recyclin8 Project Limited is a registered charity and a company limited by guarantee and not having share capital. Director5 The dirertors of the company {and trustees of the charity) for the year 2022-23 were: Mona Vakil {Chair and Treasurer) Thomas Fox (Company Secretary) Jo Winyard (to 22 June 2022} Veronique Jochum Benjamin Ingram Jonathan Emmett 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 Accountant and Independent Examiner Waqas Hussain ACCA 10 Knebworth Avenue London E17 5AJ Registered company number 02427258 Registered charity number 1151578 Forest Recycling Projert Limited Directors Report for the year ended 31 March 2023 introduction Forest Recycling Project Limited (FRPI is a registered charity and a company limited.by guarantee. FRP meets environmental challenge5 Wlth 501utions that provide local benefits on both an individual and a community level. FRP was incorporated on 28" September 1989 and is governed by Articles of Association that were adopted on 16"January 2013. We are based in Waltham Forest, East London. At FRP we work with individuals. communities, not-for-profit organisations and other companies to meet our objettives. The trustees here present their report and accounts forthe year ended 31st March 2023. The accounts comply with the accounting policies set out in note l ofthe accounts and with the Charity Commission's 2015 SORP1Statement of Recommended Practice- Accounting and Reporting by Charities). Chair's Report on the year 2022-23 We started the year with a new strategy which has given vs a clear vision ahead for 2022 to 2025. We have had a 5ucce55ful year of embedding and starting to deliver this new strategy as well as recovering and seeking to develop our retail and paint operations after the pandemic. The new strategy incorporates our five core values.. inclusive, cornmunity-focused. enterprising. sustainable and collaborative. The financial year was characterised by rising costs and inflation and the trustees are pleased to report that we.ended the year with positive reserves which continued to be in line with our reserves policy.of three to Six months of operating costs. The trustees felt that during this era of rising prices it Wa5 important to look after our most important asset- our staff - and accordingly the Board agreed to use some of FRP'S excess reserves towards staff costs to help our staff navigate the cost of living crisis. This has resulted in FRP reporting a deficit for the financial year of £22.670 versus a positive income of £9,142 in prior year. However. the board has been prudent to maintain a good level of positive reserves and the trustees believe that FRP continues to be in a strong financial position. We would like to mention a big thank you to our funders. without whom we would not be in the fortunate position of bein8 able to achieve so much this year.. The National Lottery Community Fund, The National Lottery Awards. William Morris Big Local. the London Borough of Waltham Forest and the North London Waste Authority. We would also like to extend our thanks to our individual donors who. support FRP. We especially appreciate our funders and donors in providing us with the opportunity to deliver on our aims and goals. It is by aligning with our strategic values that the dirertors are proud to report that FRP has had several achievements over the past year, including= Inclusive & community-focused Green Champion5 is our peer-led learning model. providing skills based volunteering Opportunities in retail, carpentry. paint and fabrics. The previous Green Champions programme was completed just before the stsrt of the 2022- 23 financia5 year, and the current year saw extensive work completed on reviewing. reporting and planning for a new programme of work on this. The Green Champions model was redesigned and 3 National Lottery Community Fund grant was secured in May 2022 to continue the work until 2025. The first year of the new grant ran from l June 2022 and the team started to deliver the new, funded programme, and have now completed a successful first year meetin8 all targets. We are very grateful to the NLCF fortheir contsnued support. Also on community projects, the Walthamstow Tool Library had a particularly successful year, having moved on from being a pilot in January 2022. We are very grateful to our funder, William Morris Big Local. who have funded the projert for two years and which is now in its second year after the pilot stage. The Tool Library held some great community events Iwith Awards for All funding, kindly provided by the National Lottery) in summer 2022 and ended the yearwith over 3(Kl members. It exceeded its income target. whilst simultaneously having a big community and environmental impact. The Walth3mstow Tool Library 15 funded until December 2023 and we have started having conversatiorjs . bout securing its ongoing future. Enterprising Since the pandemic. retail and operations have recovered and FRP has worked hard to try new ideas and developments in paint. scaffolding and fabrics. We ended the year with new plans and resources that we did not have at the beginning of the year. on reviewing and improving paint operations, on communications and outreach and on new donors and strategies. The financial year has seen continued paint operational improvements and effi'ciencies. There are ongoing stock reviews to ensure we keep on top of supplies'and we have disposed of most of the residual waste paint held at our sites. On fabrics we have recruited a new specialist retail p05t, which is allowing us to further progress this area as well as re-introduce our fabric sales. With regards to scaffolding, sale5 demand continues to be high and works we15 under the ordering and advance payment systems which we set up and improved during the pandemic. On an operational level. the organisation continues to review its risks and policies on an Dngoing basis including the safeguarding policy. Sustainable FRP continues to offer practical initiatives to reduce. re-use and rerycle waste, and help people live sustainably. The effects of this can be seen throughout this annual report, where we have analysed the environmental benefitsof re-using waste materials in terms of carbon emissions and waste saved, showing our contribution to a net zero carbon, circular economy. Our activities saved 61 tonnes of C02e this year- details are presented in the report. Collaborative FRP prides itself on being a collaborative organisation. and has had several successful partnerships during the 2022-23 financial year. We have worked wtth the London Borough of Waltham Forest to provide pop-up mending workshops in Chingford Mount in April and May 2022, and also worked with the London Borough of Waltham FO￿St Adult Learning Service to deliver workshops predominantly around fabrics. We have also collaborated with the London Borough of Hackney to provide Give and Take events which we are planningto extend to the London Borough of Waltham Forest. We thank our funders the London Borough of Waltham Forest and the London Borough of Hackney for their support in these projects. We are pleased to report that we also collaborated from a leaming and development perspective and hosted a group from the Cabinet Office Policy School in February 2023 who were looking to Vlslt community projects with a theme of community and environment. Looklng to the future We were very fortunate in securing a significant project grant in April 2023 from the North London Waste Authority to review and develop our paint operations, for which we are extremely grateful. This is a 6 month project to (il promote paint recycling more widely. {ii) Brow FRP'S capacity to serve the public with paint so that much more paint is successfully diverted from waste and liiil collaborate on solution5 to reduce residual waste paint. In order to achieve these goals. this will include furthering our plans to move to better premise5, to increase efficiencies around collertrons and waste disposal, and above all to dlstribute more paint. We are also pleased to report that we are working" in partnership with the local council on a project to map reuse and repairservices and projects across our local area. Waltham Forest, and plan to launch an online map and directory in early 2024. We very much appreciate the sUPPOrt of the London Borough of Waltham Forest and look forward to collaborating with them and other partners across the local area. With these excitin8 opportunities ahead as well as looking to deliverwell on our existing projects and Strategy, we look forward to continuing to work towards ourgoal of creating a greener. more inclusive community. Mona Vakil, Chair of Trustees for the year 202Z/23, October 2023 Professional services The Directors would like to thank the following for their serrfice to FRP in this year: HR Advisor.. Populo HR Payroll and Quickbooks sepiices.. Brookfields Accountants Independent Examination and Accounts Preparation: Waqas Hussain Trustees and Workforce Team in 2022-23 Board of Trustees (Directors) Chair: Mona Vakil Company Secretary: Thomas Fox Treasurer.. Mona Vakil Board members: Jo Winyard (to June 20221. Veronique Jochum. Benjamin Ingram, Jonathan Emmett Staff Chief Executive: Alison Griffin Retail and Operarions Manager: Kim O'Donovan Retail and Operations Manager Maternity Cover (from January 2023)= Gosia Rokicka Paint Worker.. Clive Henry Driver and Paint Assistant.. Les Ni"cholas Green Champions Project Manager. Carpentry Lead and Designated Safeguarding Officer: Greg Dickson Green Champions Project Mentor and Fabric Lead {to November 2022): Elizabeth Salazar Green Champions Project Mentor (from November 2022)= Penny Gunn Retail Assistant and Green Champions Project Mentor:,Emily Palmer Retail Assistsnt (from October 20221: Anita Earp Green Champions Admin and Comms Officer {from August 20231: Joanna Janeczek Tool Library Coordinator (to February 20231: Katja Benkel Tool Library Coordinator (J-ob share) (from March 2023}= Shanell Johnson and Tasnim Sultanah Volunteers The staff work with, and are complemented by. a fantastic team of volunteers whose contribution is greatly appreciated. We extend immense gratitude to all our volunteers 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 management of the organisation and overseeing the staff team. Trustees Idirectorsl meet at least once every two months to consider the activities of the organisation, and typically every six weeks. Additional discussions, meetings and approvals by correspondence are often held in between these times. plus the Chair and Trustees have contact with the Chief Executive and Staff team re8ardin8 projects on which they are working between meetings. Trustees can be appointed to the Board by the other trustees at any time. The appointment of any new trustees is decided and approved.by all existin8 members. New trustees are briefed on their legal obligations under Charity Law, the decision making processes, the busine55 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 2023 Forest Recycling Project Limited's Alms FRP'S aims are the protethon and p￿serVation of the environment for the public benefit by: The promotion of waste reduction, refuse reclamation. recycling, ￿-use and repair of recycled products. Education of the public about all aspects of waste generation. waste management and waste recycling. Working together with marginali5ed member5 of our communityto promote sustainable living and improved mentsl health. Forest Recycling Projert Limited's Objectives FRP'S solutlon to improve local sustsinable living: At FRP. our main operational goal is reclaiming, repurposing and affordably selling waste material that would otherwise fill and pollute local landfi'll sites or 80 to incineration. and working alongside and supporting volunteers in this work. The three main products we recycle are paint. timber and fabrics. We: Reclaim: We tske waste items of unwanted paint, timber and fabric, along with waste paper,.and by our attivities, reduce the amount entering local incineration and landfill srtes. Repurpose: 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 assist the biodiversity of local ecosysterns such as habitat boxes and planters. Fabric is sorted and used for craftinglups.killing workshops and sold affordably as bundles to.local schools and community proierts. Re-sell: We sell a growing range of recycledand repurposed products, offering a cheap alternative to mainstream 'green' products. along with paint. timber and fabric to the local community. This ensures all sections of the community. as well as accessing unique produrts. can afford sustainable living.. Since 2021, FRP has a150 piloted, developed and delivered the Walthamstow Tool Ubrary, whereby donated land occasionally purchased) tools are shared with the community. The Impact and Value of Forest Recycling Project Limited's Work FRP is all about bringing environmental and social benefits to the local community: We play a part in London becoming a zero-carbon 'circular' economy. designing out waste from how we live and work. We have analysed the environmental impact of re-using waste materials below- • 61 tonnes 8reenhouse gas emissions were avoided by not creating new products {'CO equivalent'l. We saved 12.7 tonnes of paint, 4.6 tonnes of scaffolding, 0.5 tonnes of fabric and 0.9 of tonnes paper. FRP'S work has many other environmental benefits, including empowering community action, raising awareness, and changing people's relationship with 'stufP. This means switching from a disposable consumer culture towards one that makes sensible use of what we have, re-using and sharing where possible. The cultural shift in mindsets and habits is harder to measure than the amount of carbon and waste saved, but it is also crucial. The tool library is a £reat example of this- making it normal and easy to borrow a drill instead of everyone needing their own- and showing again that the environmental and social parts of our work are inextricably linked. FRP'S Work With Paint Every year in the UK over 320 million litres of paint are sold. Of these. it is estimated that 50 million litres are unused, stored in homes or garages or thrown away. FRP'5 view 15 that unwanted paint is a resource that can be used to transform local environments, and offers a more environmentsllyfriendly option for customers looking to reduce their own impart. whether through prowding an affordable way for low-income households or charities to redecorate, or supporting local artists to create beautiful art. Paint business model: Reusable paint is reclaimed from recffjling centres or commercial companies. At the FRP warehouse. our team of staff and volunteers sort, quality-check and ￿-mIX the paint, ready for redistribution. The paint is 501d 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 average. each litre of"reclaimed paint is £3 cheaper than the new equivalent-and further discounted paint is also offered via different schemes to: Charitie5, community groups and not-for-profit organisations Housing associations Council housing tenants ' http5:/lcommunityrepaint.org.vV Paint impact 2022-23: Our paint operation this year saw recovery from the pandemic, and we have been delighted to reopen and rebuild our operations. This year FRP'S paint re-use avoided 34.3 tonnes of CO2 equivalent emissions by avoiding the consumption of new paint. Paint collected.- 24.108 litre5. Paint distributed- 12.718 litres. The CO2 equivalent saved by the paint that was distributed and diverted from waste is an estimated 34.4 tonnes. 8,000 litres of unusable paint was safely disposed of. The remainder was held readyfor distribution at year end. 2020-22 had been years marked by lockdowns arid restrirtions from the Covid-19 pandemic, and 2022-23 saw us emerge from that. though still with caution, and some incidences of staff illness. The .5afety of our staff. volunteers. Customers and visitors is always our highest priority, and this year it remained a pressing concern. Meanwhile we largely 'returned to normal, with our paint op'eration5 in the early part of the year, as the last restrictions were lifted, and also our thoughts be8an to turn to the future. In early 2020 we had started conversations and strategic planning around taking our paint operations forward, and particularly around whether to relocate them to more suitable premises. This was all interrupted by. the pandemic, and the very short term and reactive approach we had to take to dealing with the demands and impact of this. In the latter part of 2021 and early 2022 we were able to return to planning. and we created a new strategy for 2022-25. Paint, operations, premises and increasing our impact are all priority work for 2023124. as part of this. We have high paint stocks at the end of the year. We continue to strive to keep on top of paint stock. A lot has been donated via recycling sites in recent years. and particularly as people were at home during the pandemic land recycling centres stayed open collerting waste, even whilst we were closed as non-essential retail). This particular year, collections via recycling centres were up over 50% by quantity on the year before. giving us a growing distribution challenge thatwe have begun to innovate to meet. We will always have waste paint where reclaimed paint becomes unusable and needs to be safely disposed of, and this also represents an operational cost to the charity, but since 2020 we have cleared out a substantial backlog, leaving us better positioned goin8 forward. FRP'S Work With fimber Reclaiming scaffolding boards can have significant benefi't5 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 and also reclaim and reuse some other timber. Tlmber business model: Building developers and other industry partners donate used scaffolding to FRP. which would otherwise have been sent to landfTrll 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 ofthe timber is repurposed by FRP'S team of staff and volunteers, who cut the wood to bespoke size, sand and/or oil it to be sold on to the public. Tlmber is often used in our workshops to create planters, biodiversity boxes or raised beds. This provides added social and environmental benefits in our community, as it creates new areas for green growth. rimber impact 2022-23: 1,048m of scaffold boards were repurposed and processed for community orders between April 2022 and March 2023. Around loom of boards were additionally supplied for community projects and Green Champions project use. Assuming a weight of 4kg/m, this equals a total of 4.6 tonnes of scaffold boards. Using a very conservative figure for calculating CO2 savings. this equates to 1.35 tonnes of CO2 saved (based on 295 kgltonne which is compared with using new woodl. We also estimate that the majority. 75% is used for indoor furniture projects"which will become a longer carbon store. Using this assumption. 75% or 3.45 tonnes used inside lavoided impact from usin8 new wood plus carbon storage in recycled wood not burnt) equals a further 1.41 tonnes CO saving. This results in an estimated total saving of at least 2.76 tonnes CO2 equivalent. Timber work became closely reintegrated with our Green Champions programme this year. as this programme restarted at full capacity following the pandemic. and with new funding coming on stream in June 2022. The impart and community benefits are thus far beyond the sales and CO2 equivalent savings. The 'click and collert. systems that we had put in place during the pandemic - allowing socially distanced staff and volunteer5 to process a great many orders - proved useful to continue, to help with http:Ilwww.hse.gov.uVwoodwrkinB/recyclin8.htm efficiencies of servin8 the public. Carpentry. meanwhile. once again became the biggest pathway for Green Champions training and support for our community volunteers. Scaffolding donations continue to be a little harder to secure than other products that we recycle - we . are reassured thatthis is often reportedly because boards are being recycled by industry in other ways, such as to other community and private projects. We hope that, in some small part, we have inspired others to recycle scafftllding boards and demonstrated what can be done - we know of a few projects inspired by ours- and so the Eood work of recycling scaffolding boards has spread far beyond us. We remain very grateful to our industry partners who have donated boards to FRP. We would like to give a special mention and our thanks to Artel. Boss and Stapleton scaffolding companies. These companies have all made significant positive environmental and community impacts through their donations. Interest in scaffold products from FRP have continued to increase, and we will continue to seek to grow this reuse work in partnership wtth scaffolding and buil-ding companies locallv. FRP'S Work Wfth Fabric Greenpeace statistics suggest that globally, an estimated 41x1 billion square metres of fabric is produced annually, of which 60 billion square metres will immediately end up on cuthng room floors as waste {an area four times the size of London!). Much more becomes waste, or sits stored and unused, further down the supply chain. The wasted fabric 15 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 project 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 landfill and CO 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 their waste fabrics. Donors include interior designers. fashion designers, furniture companies, film produttion companies, theatres and upholsterers. Donated fabrics are weighed and sorted by volunteers into fabric type Iman-made or natural) and into colour and tone. The processed fabrics are sold individually to the community at affordable prices, and to community organisation5 and schools via our membership schemes. Our fabric sales became very popular before the pandemic and we have been delighted to reintroduce them this year. We also train volunteers With sewing skills and knowledge of fabrics, and to support and mentorthem in. making and developing products for themselves and for sale. We have also welcomed opportunities to deliver community workshops and hope to do more of this going forward. Fabric impart 2022-23: FRP sold around 364kg of fabric, diverting itfrom landfill, this year- equating to around 0.7 tonnes of CO2 savings. io Additional positive impact and CO2 savings carne frorn using donated and reclaimed fabrics for events and workshops - an estimated further 120kg of fabric, equating to a further 0.3 tonnes of CO savings. We also offered a clothe5 mending service at London Borough of Hackney's Zero Waste Hub events and mending workshops at our pop up space in Chingford Mount, which saved a lot of clothes from going to waste. Total estimated saving of I tonne of CO2 equivalent. As with paint and timber above, this year saw our fabTiC operations 'return to normal,, and able to move forw?rd strategically. Our workshop leader and our retsil team saw changes of personnel, and we were delighted to welcome new colleagues. whose expertise and passion for fabrics and their reclaim are a great asset. .Post pandemic. our donor and customer bases have grown once more and we have been delighted to reintrodvce our popular fabric sales. The staff and teams of volunteers have organised, created and displayed a wonderful range of fabrics and products in the shop. A lot of our stock has been sorted out. We end the year with fabric sales, donations and interest growing and we look forward to developing this further in future. meaning more environmental and community impact from this work. Meanwhile. our work with communities has been able to restart and we have had some brilliant initiatives which have been warmly received by different communities around us. We ran a pop-up fabric-focussed event in a Waltham Forest Council shop in Chingford Mount, with fully subscribed ommunity mending workshops: a series of workshops on lampshade upcycling at Waltham Forest Adult Education: mending workshops and services at Hackney Council Zero Waste Hub events: and of course continued our Green Champions workshop and volunteering provision with new improved content, thanks to the new grant from The National Lottery Comlnunity Fund. FRP'S Work With Volunteers FRP'S operations and impact have always been made possible by working in collaboration with volunteers and the wider community. In particular, the proce55es of handling and repurposing the reclaimed materials are led by our skilled mentors. but predominantly carried out byyolunteers. We particularly welcome and support volunteers who are more marginalised in our community, and who can benefit most from our supported pro8rammes- and who in tum make a fantastic contribution to our charity's work. Our team of staff and volunteers work,closely together and the unique skills and attribute5 that each individual brings are valued and fostered. Green Champions FRP'S volunteering programme is called Green Champions and it unden¥ent tremendous progress this year. thanks to a lot of hard work from our team and to a new 2022-26 grant from The National Lottery Community Fund INLCFI that started in June 2022. Green Champlons is about community, inclusivity and impact in environmental volunteering- things FRP is extremely passionate about. Our review of our programmes in early 2022 enabled us to redesign li them to be even more effective. and we are very grateful to The NLCF forfunding u5 to realise our plans. We are also extremely grateful to everyone who took part in our review, focus groups. feedback surveys and most of all volunteering as Green Champions with us. and who helped us to shape our plans and programmes going forward. Our new and improved approach to Green Champions encompasses: FRP Green Champion5 Foundations- small group volunteering opportunities. based on weekly attendance over about three months at supported. facilitated groups where people. can learn and share carpentry and textiles skills. whilst learning about and contributing to the green economy through the work of FRP. A big focus is on supporting wellbeing and being inclusive to people who may be relatively 501ated and who may typically struggle to engage in voluntary and community activities. No prior skills are necessary and many referrals come- and are encouraged - from local support services who work with people with a range of needs and often low wellbeing. Completion ofthe programme is certificated and a lot of 5UPPOrt, guidance and mentoring 15 offered regarding other ways to take fonvard the volunteering and interests, as well as to acce55 Other support as the individual may need. Wellbeing is a big priority and we ask people to complete short confidential wellbeing survey5 at the beginning and end of their programme to measure impact. 53 people took part in Green Champions Foundations in the first year of the project (to May 20231- against a target of 40. 76% showed improved wellbein8 and 64% showed significantly improved wellbeing between the beginning and the end of their programme. FRP Green Champions volunteering- a new innovation. beyond the Foundation course, through which FRP now offers a growing number and range of volunteering opportunities, to both people who have participated in a Foundations course and the wider public. This is meeting a much wider need and demand - the preeminent of those collated through evaluation of our previous work- to have flexible and ongoing volunteÈrin8 OPPOrtunitiesfor all. Many ofthese are organised and supervised by our supportive Staff team rnentors and all can accommodate people with additional needs. 57 people volunteered with FRP in the first year of the projett (to May 2023) - against a target of 40. This is in addition to the Foundations participants above. Waltham Forest Green Champions volunteering- something that we have begun to pilot in this new programme. and which will be grown significantly during year two of the project. We want to offer more opportunities to people and work with local partner organisations to offer a wide range of'green, volunteerin8 OPPOrtunitie5 in the community. from a single sovrce, so that many more people can be involved in ways that are meaningful for them, and the local community sector (typically of very small organisations. groups and projects) can have easier access to people who want to volunteer. We set up a newsletter for volunteering opportunities and aimed for 100 5ub5criber5 Within the first year - we achieved 161 sub5criber5 and hope to continue to grow this and the impact of this for people who want to volunteer and environmental and community projects that can benefi't from their volunteering. In our most ￿cent sup4ey of FRP volunteers in May/June 2023: 12 100% of respondents enjoyed their volunteering with FRP- 73% of these "a great deal-. 100% would recommend volunteering with FRP to others (many said they already did). Personal impactsloutcomes included: .1 feel I have been doing something positive for the environment and community i My confidence has improved . I feel more connected locally .Volunteering at FRP has made me feel good I have used the skills I have learned at FRP elsewhere I have made new friendships through volunteering at FRP I have started new paid work 50% 55%. 64%,. 50% 55% We also received a lot of qualitative feedback, many positive comments and some really interesting suggestions too, all of which we have been evaluating and will be usin8 to continuously improve our programmes. "It is such a therapeutic experience. Although l am not a huge fan of socialising, meeting people at FRP is something I look forward to every week.- "It's been amazing- met great people, learnt skills I've wanted to learn for a longtime. great sense of community and belonging." "l find it so good for my emotional well-being to be learning something new and mixing with such charming people in a relaxed environment.. -1 have recommended this.to various communitygroups in which I participate to people with similar medical issues to my own because l am managing to do it and feel very well 5UPPOrted. Certainly some of my neighbours. have been saying they're depressed so have recommended it to them to help with confidence. and against social isolation. It's a fantastic scheme. multifaceted and works so well with variety of people from different backgrounds. different needs. different support needs, community needs. It's just marvellous, congratulations." Green Office In addition to FRP'S three main reclaimed products, we also offer a paper revicling service. Paper business model: FRP collects office paper for recycling from small businesses and not-for-profit organisations within our locality. The paper is taken to a local paper mill to be recycled. Paper impact 2022.23: Within the year, FRP collected and rerycled 850kg of paperfrom local businesses and charities. 13 This has an estimated impart of 400kg of Coz equtvalent saved . 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 positive 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 recent times, through the pandemic. partnership working was hard because of restrittion5, and much that had been planned, or which had been done in previou5 year5. didn't take place. We are verv grateful to all our partners for continuing to develop relationships with us. often deferring and expanding on plans for post-pandemic working. and we have started to take fOr￿ard more in this year 2022-23. Walthamstow Tool Library - Working with William Morrls Blg Local FRP is delighted to have been partnering with William Morris Big Local IWMBLI to deliver on their greening and community engagement projects for the William Morris Ward area of Walthamstow. Walthamstow Tool Library was a highly successful 201￿21 pilot projett 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 was started with a'GreenerTogether' 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 cowd-safe way. In 2021 itwas able to fully launch and start to realise its potential. Ov¢r 150 members of the community joined. borrowing tools for personal and community projects, and a number of people kindly donating tools as well to make the project possible. It is turning into a great projett in terms of both its social and environmental impatt. and as 2021 came to an end William Morris Big Local decided to continue funding our delivery of the project for a further two years - including enabling us to employ a part-time Tool Library Coordinator as part of our team - and we received an Awards For All grant to do community engagement from the projert in 2022. 2022-23 thus marked a great year for the Tool Library as a partnership project, really starting to reach its potential. Membership grew to over 300 people and households. and a wide range of events took place for the community through the Awards ForAII funding and many members of the community coming forward to make things happen. At the end of the year, the Tool Library had 331 members- which wa5 more than double the number we had at the start of the year, reflecting Its rapid success and growth. During the year the members borrowed 1.307 tools between them. We are particularly proud that the Tool Library model allows us to offer heavily discounted memberships to make it highly accessible to low income households. and eca.europa.eu sourced fomula for CO2 impact 14 around a quarter of membership5 are currently at a rate of £10 a year or less. With no further costs for loaned too15 to members, this makes it incredibly good value for all and especially for those distounted mèmberships, saving people a great dea5 of money as well as the need to buy and store tools and the environmental impact of us all doing this. A new development this year has been to use industry data to calculate the CO2 impact of the Tool Library. For 2022123 this has been an estimated 22.4 tonnes of CO2 equivalent. We are very grateful to William Morris Big Local ft)r everything they are enabling us all to achieve in the area by working with us. and for all the volunteers. members and supporters from the community around the Tool Library who have made the project such a success. Hackney Zero Waste Hubs Hackney Council's environmental team have involved FRP for a number of years with their innovative zero waste work. This year, again, we delivered Give al￿ Take events at their Zero Waste Hubs, and also added clothes mending services, enabling tonnes of ￿Sidents. possessions.be recycled and repaired - and "divested from waste. This wa5 also in partnership with other local waste-reduction and community initiatives such as the wonderful Hackney Fixers and Dr Bike by Cyde Confident. We also once again ran the Toy Regifting Projett.'in partnership with Hackney Libraries. whereby people donated good quality unwanted toys and books via libraries and we collected. sorted and distributed thern to local charities. children's centres and other services. We were also delighted to be part of the inaugural Hackney Sustainability Day, promotin8 reclaimed paint to residents. Community Repaint net¥York 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 2nd April 2022 to 30th March 2023, 1479 kwh of solar elertricity was generated through the panels- this energy consumption would have emitted 0.34 tonnes of CO2 equivalent if taken from the"grid. 15 Financial Review Income for the year amounted to £222.01112022: £232.7621. £68,185 of which was unrestricted {2022.. -£87,827). Expenditure amounted to £244,681 (2022: £223,620). This resulted in a net defi'cit for the year of £-22,67012022: surplus of £9.142).. FRP seeks to develop its business and charitable income. to diversify its income'and to alway5 seek to keep costs to a minimum. Prudent financial management is extremely important to U5. This is vital to underpinning the work of the charity, and supporting the strate8ic aims and vision. In March 2020, we were delighted to achieve our reservestarget of 3-6 months of running costs held in ￿serVeS, and we have maintained this since, in spite of the challenging times we have been in. The financial year has seen rising costs and inflation affecting the Ètonomy in Beneral, and this can be seen to have an impact on FRP with resources expended exceeding the organisation's total incoming resource5 for the year. A large part ofthe increase in costs was on staff salaries to help stsff meet the cost of living crisis. as well as on utility costs which increased during the financial year. However. despite these rising costs. we were still successful in achieving our reserves target as referred to alx)ve. With regards to income, new V￿rk and operational"development was also made possible by new income in 2022123. We are very fortunate to have secured funding during this Ènancial year from the National Lottery Community Fund INLCF) for a period of four years fromjuly 2022. to continue and evolve the Green Champions programme. We are very grateful to the NLCF for their ongoing commitment to the project as well as their support in the current economic environment of rising costs. We had successfully applied in 2021122 for the National Lottery- Awards for All grant award for a project in the 2022123 financial year for community development and to develop the sustainability ofthe Walthamstow Tool Library. We are very appreciative of.William Morris Big Local {WMBL) who are in their second year of their two year grant funding of the Tool Library. further to their support for its pilot phase. for which the funding started in January 2022. Two new restricted grants which were awarded in the previous year both applied to work conducted durin8 the financial year: the London Borough of Waltham Forest {LBWFI Welcome Back to the High Streets project which funded pop ups with community workshops and the LBWF Adult Learning Service for the provision of community workshops. We are extremely grateful to all those who fund FRP to deliver workto our mutual aims. We are also. very grateful to members of the community who are our customers, with retail income continuin8 to recover since the pandemic. FRP has worked hard in recent year5 to make significant positive culturdl and operational changes at all levels, to both improve our finances and build on existing beneficiary outcomes. We have a ran8e of income generating activities, allowing u5 to work with a variety of partners and reduce our financial risk, alongside successful and ambitious grant fundraising. Developing further income streams and partnerships is an ongoing priority within our organisatt'on. as we look to the future. Reserve5 Policy and Reserves Position It is the policy of the charitable company to maintain reserves 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 Idirertors). and reconfinned since, is that the trustees 16 maintain that it is appropriate to maintain 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 We￿ £220. in 2018-19 they were £12,133. in 2019-20 they were £66,550, in 202￿21 they were £101.547 and in 2021-22 they were EIIO.689- the achievement of the reserves that we Set out to build, for the security of the charity. at between 3 and 6 months of running costs. This year we have sustained our reserves within our policy in spite of the challenges, closing the year in March 2023 with £88.019 in reserrfes. 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 ongoing uncertain times, in terms of income fluctuations and the unknown further effects of risin8 prices, with security for the charity and its work. We are immensely grateful to all of our staff, 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. Investment policy The main objectives of FRP'S Investment Policy are: to ensure that the funds at FRP'5 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 financial stability and opportunities to expand our work. The Trustees of the charity are responsible for making decisions regarding investment matters. FRP is currently operating with a surplus. but is reliant on grants to fund much of its expenditure. There can be uncertainty over grant income and the timing of cash receipts. as well as on the availability of grants in future. and therefore it is important that assets are readily available to fund operations in times of uncertainty. FRP currently holds asset5 in cash where possible to fund operations. There are currently no non-cash investments and no surplus assets that the directors deem available for investment at this time. 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 investrnent management will all be considered and defined. Risk Management The trustees {directorsl 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 activities and the following risks are currently identified= 17 Finance The key risk facing the charity, especially in the current economic climate, relates 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 new grant from The National Lottery Community Fund to support our innovative work with volunteers and recycling. and to have been able to recover our retail income as we and everyone have emerged from the pandemic. We have meanwhile achieved and sustained our important goal of holding at least 3 months, running costs in re5enrfes to underpin the future work of the charity. A high current strate8ic priority for us,.havin8 laid out our current organisational strategy in early 2022. is to further develop our Retail Strategy and particularly our Paint Strategy. as reflerted elsewhere in this report, so as to further secure the financial position and strategic potential of the charity. Inflation and Risin8 Costs This was added to our risk register in 2022 to reflect the rising rate5 and projections of inflation and especially fuel and other energy costs. These are impacting us directly through our running costs, increased prices as the costs of our suppliers increase and also the impatt of rising costs Df living on our staff tearn. Like many employer5. we have needed to review and adjust salaries in light of this more than once in the past year- and anticipate that we may well need to do so again. Careful financial management is in place with frequent review of budget and expenditure. and we are grateful for the financial expertise of our treasurer and the governance work of our board supplementing the work of the staff team in this regard. We are also mindful that our community and ourvolunteers will often be experiencing challenges and worries in this area. FRP is committed to supporknng Staff, volunteers and community as best as we a￿ able and will review the impacts of the situation on a regular b351S. Covld-19 The covid-19 crisis and accompanying lockdowns have represented many risks to FRP in recent years, as to the whole community in which we operate. Staff and their families continue to be at risk from the virus, and from the challenges and Stresses that the new situation has brought. and we have been doing everything that we can to SUPPOrt them. Throughout 2022-23 we continued to a55e55 for risks and put safety measures in place, following all guidelines and recommendations that still existed, to continue to look after staff, volunteers and those that visit FRP and make sure that our work can continue as safely as possible. The risks around covid-19 will continue to be under careful consideration going forward. Health and Safety All staff receive up-to-date Health and Safetytrainin& and we undertook a thorough review of our Health and Safety policies and procedures in 2022-23, implementing a number of improvements at that time. In this financial year, we have continued to do work on Health and Safety around covid-19, including regular risk assessments and reviews. checking and following of guidelines. extra training for staff and a range of new protocols. We continue to arrange and update First Aid trainin8 forthe staff team through the British Red Cross and St John Ambulance, meaning we have updated knowledge as well as five qualified first aiders in our small tearn and across our sites. 18 Safeguarding of vulnerable adult Servi￿ users and our staff members All staff have undergone safeguarding training and FRP has invested in an employee 5UPPOrt programme with Education Support Partnership, which provides mental 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 thi5 year and trained the staff in them. GDPR Training has been undertaken by senior staff 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 ensure 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 applicant 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 are selected. 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 by. 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. Independent examiner Waqas Hussain ACCA has been appointed as independent examiner for this accounting period. 19 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 Morba Vakil Chair of Trustees. T￿Surer and Director Date: 29 November 2023 2Q Independent examinerfs report to the trt￿ee$ of Forest Recyding Projert Limited I report to the charity trustees on my examination of the accounts of Forest Recycling Project Limited I'the Charity,) for the year ended 31 March 2023. Responsibilltles and basis of report As the Charity's trustees (who are also the directors of the company for the purposes of company law). you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act"). Having satisfied. myself that the accounts of the Charity are not required to be audited for this year under Part 16 of the 2006 Art and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Att'l. In carrying out my examination I have followed the Direction5 given by the Charity Commission under section 14515) Ib) of the 2011 Act. INiependent examiner'$ statement I have completed my examinat?on. I confirm that no material matters have come to my attention which gives me cause to believe that: accounting records were not kept in accordance with section 386 of the Companies Act 2006,. or the accounts do not accord with such records,. or the accounts do not comply with relevant accounting requirement5 under settion 396 of the Companies Act 2006 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 the accounts have not been prepared in accordance with the Charities SORP {FRS1021. I have no concerns and have come across no other matters in connectton with the examination to which attention should be drawn in this report in order to enable a proper understandin8 of the accounts to be reached. Name: Waqas Hussain FCCA Addre55: 10 Knebworth Avenue, Walthamstow, London. E17 5'AJ Date: 2911112023 Signed: 21 Forest Reqcling Proiect Lunited Ststement of FiDgMci41 A¢tsvil For tbt year tnded 31 M*rth 2023 2023 2022 T¥ol¢ R￿tr￿ted F•Trds U*restri¢i¢d Totsl F¥nds Totsl FuThds ¥COMif4G RESOURCES I*toroing resources from ge*¢rated f￿Thd$ Voluntary Incom¢- Rtwtt5 & d{￿lOnS Aaivities for G¢neTating FuTrts Investsn¢nt Income 153,826 15U20 67.149 42 159.532 73.197. 33 67,149 42 TOTAL INCOMING RESOURCES 153,826 68,185 222.011 232.762 RESOURCES EXPENDED Fundrpislng Costs Charit*ble activities Govtrnan¢¢ Costs 153,f26 .105 750 243.931 750 222.870 750 Totsl Resources Expet)deJ 153.K26 90.855 244.681 223,620 Net Incoming R¢so￿TreS - Net Incorne for the Ye*r (22.670) (22.670) 9.142 T￿al Funds at the start of the ycar 110.689 Total Funds at th¢ wid of ihe year 88.019 88.019 110.689 The statemerti of fittauctal ￿E¥￿tIeS inclodes all gains arÈd1055es in the y¢ar. All of the above amOW￿ relate io wiiinutng activiiie Forest Recydlfig Prolert iimile S¢atement of Fioallcial Positio JJ March 2023 2023 2022 Tr4ote Fixed assets Tangible fEx¢d as5¢ 7.083 12,083 Current 85sets Debtors & Prepayments Bank & Cash at hand 26254 108.367 15,694 101),736 Creditor5: amounts fallingdue within OD¢ year (53.685) (17.824) Net t￿rrent assets 88.019 110,689 Credi￿rs.. amowits falling due afttt more thatt orte Iyet assets 88.019 110.689 Funds General Funds 88.019 110.689 TOTAL FUNDS 88.019 110,689 For ih¢ year ended 31 March 2023 the charity wa5 ¢niiiled io exemption from audit under settiotj 477 of the Companics 201)6 r¢latiDg t0 small Th¢ mernb¢rs have n¢A required th¢ charity W obtsin audit of its accounts for the year in qu￿]0￿ in accordance with section 476. Th¢ Directors ackftowledge their respoDsibilities for c¢wlyitig with the Tequirements of the Aa with resped to aCc￿￿n(ln8 records and th¢ preparation of aCC(￿ts. These accounts have beerj prepared m accord￿ with ihe provisions appli¢able io small ¢ornpanie5 subiecl to the Slnall companies ￿￿7M¢ and in a¢￿1rdance with FRS102 SORP. These futhncial stat¢m¢tsts weff approved by ihe Membe¥s of the Board ofTrus￿ and autlwised lor issue on the 29 November 2023 are si￿￿ed on thesrbebalf by.. Mona Vakil Chair of the Truste4 Tre*sryrer and DirttioT AccouKrtNG POLICIES (a) Basis of #ceountll18 The financial statements have bctn prtpared under the hisioric¥l com convention, and in compliance with 'The Finantihl Reportin8 Standard appli¢abk in the UK and Rwblic of Ir¢land' (FRS 102). the Sthr¢ment of Recommended Practice.. Accouniing and RerA)rtino. by CharilÉes prwing theii a¢couDts in accord￿ wilh FRS 102 {ch￿l(leS SO]IP) aod the Companies Aci 2LN)6. There has been no change to the a¢￿￿111ng polici¢s (valuatKXL rules and methods of aco)uniing) sin¢¢ y¢aT. (b) L￿al stat￿$ Fores¢ R¢¢y¢ling Proje¢1 Lirniied is a r¢gist¢r¢d tharity aod a compaThy limiied by guaraTht¢e and has tho sha capiial. The liability of each member in the eveni of a wiNting-up is linJi*d to £1. {e) Coin8 Coneer There are no rnaierial uncertaiTrli¢s alh)ut th¢ charity's ability io coniinue (d) Fuod Aeco¥ntlng- restrieted and ￿•￿4$¢￿1¢1£d f#nd5 - Unrestricred fithds are those whert there are no exiernaily imW resrrictions and are available foT use at the . discretion of the trustees in funheraoce of the general obje¢tive5 of the ¢harity. - Restricted funds are subjeaed io restrictions on th¢iT ¢xpuKliwr¢ imposed by ihe th)nor or through ihe tern)s of an appeal. (e) regources A.11 illCOTuing resources tre included in ihe ststemeni of financial acriviries when the charity 15 entitled to the income attd the amtyjnt can be quantified with reason*k xcuracy. The lollowing spxifK poli¢i¢s are applied . to particular categories of income.. Volunlary income is received by way of gran￿ dOnati¢Y￿ and gilb and is included in bjll in the Swem¢nt of Fit)ancial Activities when rtteivable. Grattts. where enutlement is not ¢onditional on the delivery oca specific perforniance by ihe Charity, arE reCo￿lsed when the charity ￿¢0M¢S unconditionally entitlejj to the grant. - Donated services and facalittes are included at the value to the charity where this can be waDtifi¢d. The value of services provided by voltsntrers has not tea) included in tss¢ Kcounts. - InvestrDeni income is included when Teceivabl¢. - Incomingresources from ¢hariiabk trading activity are ac¢ounted for when eamed. - Incoming resources from graDts, where related to wfonnante and specific deliverables. are xcounted for as the charity &1rns the rigt&t io consideTatiTrk by is putOTmance. (Q Rtso¥rees expended Expenditure is'recogni5ed on aD accruals b&%is &% a liability is incu￿£￿. ExF¢ndiwre I￿lUdeS apy VAT which can4ot be fvlly r¢cov¢r&i and is r¢wi¢d as part of the exFthditure to which li relates.. - Costs of generating ffijnds comprTr5e the wsts associated with tttraaing voluntsry income and the costs of ' tradtng for fundraising puwes. - Charitsbk expenditiire ¢c¥nprises those costs incuTTed by th¢ rharity in the delivery of its acriviiies and s¢rvivs for its b¢neficiarie5. It includes both costs that all0￿ed diTKiIy ￿ 5u¢h ¥liviti¢s and those costs of an indisecr naDJre necessary to wpport th¢m. - Govemance costs include those oJ5ts wilh mediog th¢ qms¢iiuti¢)nal al￿ s11￿1￿ry rE9Uirtmertts of the Charity and includ¢ the audit or examin*ion coy5. and linked to the stra*gi¢ management of the charity. - All ￿sts are allocated betsveen the u*gories of the Ststemrnt of FinaftcTal Auivilies (SOFA) on a basis designed to refleci the us¢ of the resource. Costs Telating to a particular a￿1¥￿ty are allocated direaly, others are apportton¢d on an appropriate basis ¢.g. stsff costs by time spertL per capith or estimated usage as sei out in the notes to the ac¢owits. Forest Retythng Prolert iimlled ACCOUNTING POLICIES (conli#ued) (gl Fixed assets Fixed assets are swed at cost less accumulatyl ￿precI￿l0Tr. D¢prxiation is calculatEd to WTite off the ¢o$t of fixed asg¢ts less their e￿i￿ated rt%idual value overtheir expeaed useffijl life on th¢ following hsi5.' o￿lee equiprnent.. 25% straight line. Vehicles-. 33.3% strnight litie (h) Operating le*5e agre¢me4ts ReTrtaL5 payable under OF¢Ning leases. where substartially all the risks and rewards of owThersbip remaiD wit the I￿or, are Charged io th¢ swement of finats¢ial aciiviiÉes on a straight line blsis over the life of th¢ It￿. (i) Cash *t b*nk and iw hand Cash at bank and in hand includes cash and Short terni highty liquid Tnveshnents with a short matvrity of thTee .months or less from the datr of acquisition or openiDg of th¢ deposit or sirnilar acc￿￿t. ti) Debtors Trdde and otherdebti)r5 are Tecwised at the settle￿( amouni due after any trade diseoullt offered. Pr¢paymeTrts are valued at the amount prepaid after thking ac¢ouni of any trade discounts due. (k) Cr￿lIOTS xnd Provis￿￿5 Creditors and provision5 are recognised wh¢re the charity h&5 a prcsent obligaiion Tesuliing from a pasi ¢v¢nr thai will probably resuli in the trènsfer of funds io a ibird paty and ih¢ gm¢)UDi dlhe to settle the obligaticffi can be measured or estimated reliably. Creditors and Provisions we nO￿alty rewgnised ai th¢ir settlement amount after allowtn8 for any tr&le dtswmts ¢￿e. TOTAL INCOMING RESOURCES 2023 Totxl 2022 Total Volufjt4ry I￿oMe Grants & Dona¢sOHS The National Lottery Community Fund- Green CharnpiLMs Wyllkam Morris Big L(Kal- Walthamstow Tool Library The Postcode Society Trvsi- New Van UK Governmcnt Covtd grdnt5 UK Govemm¢n¢ Kickswr gr￿t- Apprenti¢¢ North London W&ste Authority- L& Th¢re Be Ligh¢ National Lott￿- Awards for LBWF W¢l¢ome Back io High Streets prnie LBWF Adult Learning Service Donations Total vol￿￿1•ry Into￿t 116,799 24J07 101.868 21.520 .17.000 6,667 6.206 4.547 941 1,000 2.120 1.724 159532 Is L RESOURCES EXPENDED Charliable expendilure 2022 Administration and offi¢¢ wnning Project and dtreci costs Premise5 Costs Staff and volunteer costs 22.744 14,134 41 J65 165.488 19.185 17,103 40,492 146.090 Govern$Thtt Costs Indep¢nd¢ni Examiner's fees 750 750 Totsl Costs 244.681 223,620 Forest Recyd•y ProAert Limited 3. NET SNCOMINC RESOURCES 2023 2022 This is stated after charging.. Renials under operating leases lThdetth4ent Exarninerfs Fees 24,840 750 24.846 750 4. sfAFF COSTS AND EMOLUMENTS Total staff costs #5 follows: 2023 2022 Gross pay &)cial Security Costs 156,085 9,403 J36.93J .7831 Tot41 165,488 144.762 No employee received emoluments of more than £60.(rtK) in this or th¢ previous y¢ar. Notte of the Tnasiees T￿l¥¢d any during th¢ye4r. {2022.. Nil) 2023 2022 Average number of employees dwing th. year (full time ¢qUiTtht)w&%: 6. TANCIBLE FIXED ASSErs V¢hi¢l¢ EqDipment Totrdl Cost: At l April 2022 Addation5 At 31 March20f2 I5,LNX) 25,744 40.744 Deprefiation: At l April 2022 Charge for the y Ai i l March 2023 2.917 25,744 28.661 Net book v3ly¢: At l April 2022 At 31 March 2023 7.083 7. DEBTORS AND PREPAYMENTS 2023 2022 Trade debtors her debiors and Prepayments 16,052 10202 26,254 5.934 9,760 15,694 8. CREDITORS 2022 Awounts folling due wilhi• ofj¢ y¢•r Trade creditOTS Other creditors and a¢crua]s VAT control Deferred granis lo.4￿1 2.473 108 40,607 2,018 2.213 2,593 53.685 17.824 9. ANALYSIS OF MOVEME￿ IN FUNDS Total Funds At l April 2022 At31 March 2023 tn¢oming Oul8Oi•R Tr*vJ$fers Anatysis of Mov¢m¢nt in Funds Restricted F#nds WMBL- Walthamsiow TLw)l Lilxary The National Lottery Communiry Fund NatlODal Lottery Awards for All LBWF Adult LearniDg S¢rvice LB WF Wel¢om¢ Ba¢k io High Streets Tol#l Rtstricttd Funds 24,107 (24.107) I 16.799 (116.799) (9,8￿) (2.120) 2.120 (1.0(￿1) 153.f16 (153.826) ilnrejtrieted Genernl 110.689 110.689 68.185 68.185 (90.855) (￿.855) 88.019 8&019 Total Unrtstricted Funds Tot*1 Fun•ts 110.689 222.011 88,019 William Morris Big tAbcal- Waltharnstow Tool Library The William Morris Big Local gr4nt was a restrtcted grant for development aod delivery of Walthamsiow Tool Librdry. The N4tio*al Lottery Comrnunity F￿•￿- Grvn Champi0•s The National Lottery Community Fund 8rani was a restric*d gnnt for tb¢ FRP Green Champions wjjeci. National Lottery Awards for AU The Awards for All grant a Testri¢*d gront fty the Waltharn5tow T(x)l Lilw Community outr¢a¢h.projttL LBWF Adult i%*rDing Serviee The Waltham Forest Adult Learnin8 Service gr4ntwas a r¢5tricied grant for c4)mmunity workshops. LBWF Welcorne ba¢k lo High Streets Projeet Thc Londoll Borough olwaliham Forw High Streets Fund w#$ a restricted grani for a popup with tommuntty workshops. 10. DIRECTORS AND RELATED PARTY TRANSACTIONS . Th¢re were no paytrhents made durtng the year to Direaors aod rela*d parties (2022: ftil).