2023-03-31-accounts - Ipswich Furniture Project

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Trustees'	annual report	(incorporating		the	directors'	report)
Independent examiner's		report to the		trustees
Statement	of financial activities		(including		income	and expenditure	account)
Balance sheet
Statement	of cash flows
Notes to	the financial statements

Registered	charity	name	name	Ipswich	Furniture
Charity registration		number		1151719
Company	registration		number	05170995
Principal office and			registered	Hogarth	Road
office				Ipswich
				Suffolk
				IP3 OEY

		M Allison (Chair)
		M Brunning
		N Burfield
		E Harsant
		P Henry
		F Loader
		M Regnault
		M Whitworth
Patron		The Rt Hon 3 Gummer,	Lord Deben
Company Secretary		RWhitehead
Independent	examiner	LThurston FCCA
		Lovewell Blake LLP
		Chartered accountants
		First Floor Suite
		2 Hillside Business Park
		Bury St Edmunds
		IF32 7EA
Bankers		Barclays Bank Pic
		Ipswich
		IP1 1PB

					2023		2022
				Unrestricted	Restricted
				funds	funds	Total funds	Total funds
			Note	f	5	F	5
Income and endowments
Donations and legacies			5	19337		19,337	30,286
Charitable activities			6	509,893		509,893	603,863
Other trading activities				148,747		148,747	150,497
Investment income				505		505	18
Total income				678,482		678,482	784,664
Expenditure Charitable activities			7	706,257		706,257	739,917
Total expenditure				706,257		706,257	739,917
Net (expenditure)/income		before	transfer of
funds				(27,775)		(27,775)	44,747
Transfers between	funds			12,000	(12,000)
Net movement in	funds			(15,775)	(12,000)	(27,775)	44,747
Reconciliation of	funds
Total funds brought	forward			254,520	12,000	266,520	221,773
Total funds carried forward				238,745		238,745	266,520

				2023		2022
			Note		E	F
Fixed assets
Tangible fixed assets			12				6,646
Current assets
Stocks				20,285		22,988
Debtors			13	37,126		21,988
Cash at bank and	in	hand		193,786		268,115
				251,197		313,091
Creditors: Amounts		falling due within
one year			14	(12,452)		(53,217)
Net current assets					238,745		259,874
Total assets less	current liabilities				238,745		266,520
Net assets					238,745		266,520
Funds ofthe charity
Restricted funds							12,000
Unrestricted funds					238,745		254,520
Total charity funds			16		238,745		266,520

Year ended 31 Ma	rch	2023
			2023	2022
			F	F
Cash flows from operating Net (expenditure)hncome		activities	(27,775)	44,747
Adjustments for:
Depreciation oftangible	fixed	assets	6,646	6,875
Other interest receivable	and	similar income	(505)	(18)
Accrued expenses			570	105
Changesin:
Stocks			2,703	(4,468)
Trade and other debtors			(15,138)	125,693
Trade and other creditors			(41,335)	19,936
Cash generated from operations			(74,834)	192,870
Interest received			505	18
Net cash (used in)/from	operating activities		(74,329)	192,888
Net (decrease)/increase in Cash and cash equivalents		cash and cash equivalents at beginning ofyear	(74,329) 268,115	192,888 75,227
Cash and cash equivalents		at end ofyear	193,786	268,115

Donations and legacies
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2023	Funds	2022
				6	6	f
Donations
Other grants and donations			2,837	2,837	473	473
Grants
Ipswich Borough Council			11,500	11,500	18,000	18,000
Mrs L D Rope Third Charitable		Trust			10,000	10,000
Suffolk Community Foundation			5,000	5,000
Job Retention Scheme					1,813	1,813
			19,337	19,337	30,286	30,286
Charitable activities
			Unrestncted	Total Funds	Unrestricted	Total Funds
			Funds 5	2023 f	Funds F	2022 f
Income from purchased	goods		438,626	438,626	513,028	513,028
Income from other services			20,061	20,061	25,038	25,038
Removals, collections and dehveries			51,206	51,206	65,797	65,797
			509,893	509,893	603,863	603,863

Expenditure on char	itable activities
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2023
		F	6	F
Electrical appliances	for resale	225,727		225,727
Furniture for resale		63,661		63,661
WEEE purchases
Project materials		8,414		8,414
Rent, rates and service charge		30,541		30,541
Staff costs		224,990		224,990
Motor expenses		29,669		29,669
Repairs and renewals		13,252		13,252
Tool and equipment		20,782		20,782
Volunteer expenses		17,288		17,288
ITservices and consultancy		21,657		21,657
Marketing		50		50
Depreciation		6,646		6,646
Support costs		43,580		43,580
		706,257		706,257
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2022
			6	6
Electrical appliances	for resale	272,181		272,181
Furniture for resale		66,353		66,353
WEEE purchases			17,500	17,500
Project materials		29,262		29,262
Rent, rates and service charge		32,535		32,535
Staff costs		179,536		179,536
Motor expenses		23,875		23,875
Repairs and renewals		255	4,290	4,545
Tool and equipment		23,608		23,608
Volunteer expenses		22,570		22,570
ITservices and consultancy		15,406		15,406
Marketing		16		16
Depreciation		6,875		6,875
Support costs		45,655		45,655
		718,127	21,790	739,917

Analysis ofsu	pport co	st	s
							2023f	2022
Waste disposal	and cleaning						7,077	6,208
Insurance fees							7,678	7,585
Office costs							3,239	4,338
Telephone							4,462	6,689
Bank charges							1,594	1,964
Training							2,125	900
Travel							1,755	2,352
Heat and light							11,021	12,275
Dues and subscriptions							2,634	1,464
Independent examiner fee							1,995	1,880
							43,580	45,655
Net (expenditure)/income
Net (expenditure)/income			is stated	after charging/(crediting).
							2023	2022
								5
Depredation oftangible		fixed assets					6,646	6,875
Staff costs
The total staff costs and		employee		benefits for the reporting	period	are analysed	as follows.
							2023	2022
Wages and salaries Social security costs						206,144 10,925		165,223 8,177
Employer contnbutions to			pension	plans			7,921	6,136
						224,990		179,536

12.	Tangible fixed asset	s
				Motor
				vehicles
	Cost
	At 1 April 2022 and	31 March 2023		27,500
	Depreciation
	At 1 April 2022			20,854
	Charge for the year			6,646
	At 31March 2023			27,500
	Carrying amount
	At 31 March 2023
	At 31 March 2022			6,646
13.	Debtors
			2023	2022
	Trade debtors		30,136	14,998
	Prepayments		6,990	6,990
			37,126	21,988
14.	Creditors: Amounts	falling due within one year
			2023	2022
	Trade creditors		960	17,773
	Accruals and deferred income Social security and other taxes		2,400 7,545	1,830 31,904
	Other creditors		1,547	1,710
			12,452	53,217

Yea	r ended 3	1 March	1 March	2023
16.	Analysis of	charitable		funds
					At 1 April				At 31 March
					2022 6	Income 6	Expenditure 6	Transfers E	2023f
	Unrestricted	funds
	General fund				254,520	678,482	(706,257)	12,000	238,745
	Restricted funds
	Lease Settlement				12,000			(12,000)
					266,520	678,482	(706,257)		238,745
					At 1 April				At 31 March
					2021	Income	Expenditure	Transfers	2022
					6	6	F	F	5
	Unrestricted	funds
	General fund				194,483	784,664	(718,127)	(6,500)	254,520
	Restricted funds
	WEEE Purchase		Van
	fund				11,000		(17,500)	6,500
	Lease Settlement				12,000				12,000
	New Shop fund				4,290		(4,290)
					221,773	784,664	(739,917)		266,520

17.	Analysis ofnet asse	Analysis ofnet asse	ts between funds
	As at 31 March 2023
				Unrestdicted	Restricted	Total	Funds
				Funds	Funds		2023
					6		6
	Current assets			238,745		238,745
	Net Assets			238,745		238,745
	As at 31 March 2022
				Unrestricted	Restricted	Total Funds
				Funds	Funds		2022
				6	6
	Tangible fixed assets			6,646			6,646
	Current assets			247,874	12,000	259,874
	Net Assets			254,520	12,000	266,520
18.	Analysis ofchanges		in net debt
						At
				At 1 Apr 2022	Cash flows	31Mar	2023
					6		6
	Cash at bank and	in hand		268,115	(74,329)	193,786
19.	Related parties

			From Ipswich	From Other Areas	Total
No ofunique donors			1087		1630
No ofitems			3728	2298	6026
Weight ofitems			115,717.40 KG	64,585.40 KG	180,302.80 KG
No ofitems reused			2619	1715
Weight ofitems reused			70,053.90 KG	42,089.40 KG	112,143.30 KG
No ofitems sold to Ipswich residents from within I swich		collected	1997
Weight ofitems sold collected from within	to Ipswich residents I swich		53,765.80 KG
No ofhousehold items			2987	1970	4957
Weight ofhousehold	items		88,33080 KG	54,441.40 KG	142,772.20 KG
No ofelectrical items			741	328	1069
Weight ofelectrical items			27,386.60 KG	10,144.00 KG	37,530.60 KG

			IFP Im acts 2022-2023 Post Code IP1 - IP4	IFP Im acts 2022-2023 Post Code IP1 - IP4	IFP Im acts 2022-2023 Post Code IP1 - IP4	IFP Im acts 2022-2023 Post Code IP1 - IP4	IFP Im acts 2022-2023 Post Code IP1 - IP4
						~ ~
ICTand		TVs	77	0.045	3465	6	20.79	100		7,700
White	Goods		568	0.06	34.08	0.8	27.264	150		85,200
Furniture		Household	2,410	0.03	72.3	1	72.3	80		192,800
Office	Furniture			0.026	0.208	0.4	0.0832	41		328
Total			3,039		109		120			6284,108
					tonnes		tonnes			saved by
					saved		saved			households
				IFP Im acts 2022-2023 Post Codes other
										~ ~
ICT and		TVs	30	0045	1.35	6	8.1	100		3,000
White	Goods		305	0.06	18.3	0.8	14.64	150		45,750
Furniture		Household	2,019	0.03	60.57	1	60.57	80		161,520
Office	Furniture		62	0.026	1.6212	04	0.6448	41		2,542
Total			2,416		82		84			2212,812
					tonnes		tonnes			saved by
					saved		saved			households
				IFP lm acts 2022-2023 Post Codes all
ICTand		TVs	107	0.045	4.815		28.89	100		10,700
White	Goods		873	0.06	52.38	0.8	41.904	150		130,950
Furniture		Household	4,429	0.03	132.87		132.87	80		354,320
Office	Furniture		70	0.026	1.82	0.4	0.728	41		2,870
Total			5,479		192		204			f498,840
					tonnes		tonnes			saved by
					saved		saved			households
	Environmental		and Financial	impacts ofre-use calculator Supplied			by Re-Use	Network	Methodology for
		quantifying	environmental	and Economic impacts		ofre-use from WRAP research			2010-2011
			http:/twww. wrap. org.uk/sites/files/wrap/Final%20Reuse%20Method.					pdf