Heartlands Furniture Limited Trustees, Report For the year ended 31" March 2025 We, the Trustees of Heartlands Furniture limited, are pleased to present the Annual Report for the year ended 31, MaTch 2025, together with the Financial Statements for the year and Confim that the latter comply with the Memorandum and Articles of Association and the Charities SORP 2005. Charitable Aims Heartlands Furniture limited is a Company Limited by Guarante¢, No. 08355252, established by Memorandum and Articles of Association and is a Registcrcd Charity, No. 1154901. Recruitment and Induction of Trustees Suitable personnel are identified by the existing Trustees on the basis of their skills and knowledge and invited to become Trustees. New Trustees are inducted into th¢ workings of the Charity by the ChaArp¢rson. Organisation of the Charity The Trustees govern the Charity. They mect regularly and delegate the day-to-day running of the Charity to the Chairperson who oversees the Organisation. The Charity employs I full-time staff member and I part-time member of staff. The staff are assisted by volunteers who undertake key roles in support of th¢ Charity's activities. Objectives The Charity has identified a need in the community and attempts wherever possible to meet it. The ChaTAty aims to cover costs. To provide quality iterns at realistic and affordable prices. Value and mainlain relationships with fund¢rs and other organisations. Recognise value of partnerships. With our client groups maintain confidentiality, show them respect, bc non-judgemcntal, allow them to maintain their dignity and empathise with their views and opinions. Show employees and volunteers that they perfonn worthwhile jobs and that they are appreciated. Offer them supporL Stability and training when rcquircd. We have referred to the guidonce contained in the Charity Con]mission's general guidance on public benefit when reviewing OUT aims and objectives and in planning our future dctivities. In particular the Trustees consider how planned activities will contribute to those aims and objectives. Principal Activity Heartlands Furniture Limited strives to provide a much-needed service to satisfy the demand for good quality used furniture and household effects at affordabl¢ prices to people on benefits and low Èncomes. During the cUent accounting period we have distributed 20 tonn¢s of furniture to 299 clients, although it is accepted that some of these may be repeat customers. Volunteers from the ommunity assist with th¢ project. We still require funding to improve the service.
Review of Activities for the Year We aim to continue delivery of the service at the existing level if possible and expand or diversify wher¢ th¢r¢ is a perceived need and resources allow. Heartlands FurnitUTe Limited maintains its ¢thos to provide good quality household items to those on benefits and low incomes. Our priority ts, &s in previous years, to secure funding to continue this much ne¢ded service to the community. Financial Review Heartlands Furnitur¢ Limited continues its role of perceiving a need within the community and th¢n finds ways wherever possible to meet it. There is no outside funding supporting the Charity. Expenditure is spent on our objectives, with the aim also to Cover ongoing overheads. The Charity continues to provide a quality service at realistic and affordable prices. The total income for the year, was £29537 and the net result for the year is a loss of £5285. Related Parties The Charity works closely with Cornwall Council, Social Services and GOFA, which is a stmtlar furniture re-use Charity in the area. Investment Policy The Tnte¢S have considered the most appropriate policy for funds and fmd that the ongoing arrangement with the Barclays Bank PLC current account meets the requirement to maintain access to funds for operational purposes. Reserves Policy In order that the ChaTity can meet its objectives in promoting any charitable PUTPOS¢ for the benefit of the conllnunity within Cornwall, the Trustees have considered its resources and comrnitments. However, there is no Reserve Policy in place at the present time. Risk Review The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to minimise or mitigate these. The Truste¢s will continue to review potentlal risks on a regular basis and will take furth¢r action to minimis¢ 01 mitigate these risks as required. Auditors The accounts do not require auditing at the present time. Plans for the Future We aim to continue providing our existing service, streamlined where necessary, provide support, stability and training to our volunteers and employees while a150 building relationships with possibl¢ funders. whe and if, a viable opportunity arises we will consider diversification or expand our servic¢s. Th¢ Director and TTUStees will b¢ Working to maintain and Improve the service. It is proposed that in the forthcoming finaDcial year a BLLsiness Plan will be developed which will aid the organisation with funding applications.
Statement of Trustees, Responsibilities The TnteeS are responsible for preparing the Annual Report and the Financial Statements in accoTdance with applicable law and regulations. Law applicable to Charities in England and Wales requires the Trustees to prepare Financial Statements for ¢ach financial year. Under that law the Trustees have el¢¢ted to prepare the Financial Statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Sthndards and applicable law). The Financial Statements are required by law to give a true and fair view of the state of affairs of the Charity and of the fllmicial activities for that year. In preparing those Financial Statements, the Trustees are required to: select suitable accounting policies and then apply them consistcntly) - make judgements and estimates that are reasonable and prudent; and prepare the Financial Statements on th¢ going Concern basis unless it is Inappropriate to presume that the Charity will continu¢ in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the Financial Statements compEy with Charities Act. They have gcneral responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Charity and to prevent and d¢t¢ct fraud and other irregularities. Statement of DI10$ure So far &$ the Trustees ar¢ awar¢, there is no rel¢vallt financial inforniation of which the Charity's stakeholders are unaware. Additionally the Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit infonnation and to establish that the Charity's stakeholders are aware of that infornti0n. By order of the Trustees Unit Clb Pool Business Park Dudnanc¢ Lane Pool REDRtrrH TR15 3QW David Mildren Chairperson 29th November 2025
Heartlands Furniture Company Registration Number: 08355252 (England and Wales) (Unaudited) Finaneial Statements Period of Accounts Start Date: 1st April 2024 End Date: 3 1st March 2025
Heartlands Furniture Company Information for the Period Ended 31st Mareh 2025 Director: D Mildren Company Secretary: D Mildrcn Registered oifiee Address: Unit Clb Pool Business Park Dudnance Lane Pool REDRUTH Cornwall TR15 3QW Company Registration Number: 08355252 {England and Wales)
Heartlands Furniture Balance sheet As at 31st March 2025 Notes 2025 2024 Fixed Assets Intangible assets Tangible assets: 92 35 Total Fixed Assets: 92 35 Current Assets Stocks: 1000 iooo Debtors: Cash at bank and in hand: (79) (1017) Total Current Assets: 921 (17) Creditors Creditors: amounts falling due within one year: Net Current Assets (Liabilities): 921 (17) Total Assets less Current Liabilities: 1013 18 Creditors: amounts falling due after more than one yeaT: 17479 11199 ProvÉsion for liabilities: Total Net Assets (Liabilities): (16466) (11181) The notes fomi part of these financial statements
Heartlands Furniture Balance sheet As at 31st March 2025 Continued Notes 2025 2024 Capital and Reserves Called up share capital: Revaluation reserve 17479 11199 Profit and loss account: (33945) (22380) Total Shareholders Funds: (16466) (11181) A Profit and Loss Account has not been filed. For the year ending 31 st March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The members have agre¢d to the abridgement of the Accounts for the period ending 3 ISI March 2025. The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Board of Directors on 22nd November 2025. SIGNED ON BEHALF OF THE BOARD BY: Name: D Mildren Status- Director The notes forn] part of these financial statements
Heartlands Furniture Notes to the Financial Statements for the Period Ended 31st Marcb 2025 l. Accounting Policies Basis of Measurement and Preparation of Accounts The financkal staternents have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller EntLties. Turnover Policy The tumover shown kn the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added T&x and trade discounts. Tangible Fixed Assets Depreciation Policy Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings - 20/0 on cost or revalued amounts, Plant and Machinery - 150/0 on cost, Fixtures and Fittings - l 00/0 on cost, Motor Vehicles . 25 % on cost. Intangible Fixed A&sets Amortisation Policy Intangible fixed assets (including purchased goodwill and patents) are amortised at Tates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairnient of intangible assets is only reviewed wh¢re circumstances indicate that the canying value of an asset may not be fully recoverable. Valuation Inforniation and Policy Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Other Accounting Policies Assets obtained under hire purchase contracts or fmance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease tenn, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year ill which it Ès incurred. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred thxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted.
Heartlands Furniture Notes to the Financial Statements for the Period Ended 31st March 2025 2. Intangible Assets Total Cost At I" April 2024: Additions: Disposals: Revaluations: Transfers: At 31st March 2025: Amortisation At 1st April 2024: Provided during the Period: On disposals.. Other Adjustments: At 31st Mah 2025: Net book value At 31st March 2025: At 31 st March 2024:
Heartlands Furniture Notes to the Financial Statements for the Period Ended 31st Mareh 2025 3. TaDgible assets Total Cost At I st April 2024: 13290 Additions- 68 Disposals.. Revaluations: TTansf¢is: At 3 1st March 2025.. 13358 Depreciation At 1st April 2024: Charge for year: On disposals: 13255 Other adjustments At 31 st March 2025: Net book value At 31 st March 2025: 13266 92 At 31 st March 2024: 35 Included in Motor Vehicles were assets held under hire purchase contrncts. The net book value of these assets amounted to £0 (2024: £0)
Heartlands Furniture Notes to the Financial Statements for the Period Ended 31st March 2025 4. Debtors Debtors include £Nil (2024: £Nil) falling due after more than one year. 5. Creditors The following Directors loans are included within creditors,. Repayable 2025 2024 Between one and five years: 17479 11199 Over five years: Total: 17479 11199
Heartlands Furniture Notes to the Financial Statements for the Period Ended 31st March 2025 6. Called up share Capital Allotted, called up and paid Previous period 2024 Class Number of shares Nominal value per share Total Ordinary shares: 1.00 Preference shares: 1.00 Total share capital: Current period 2025 Total Ordinary shares: 1.00 Preference shares: 1.00 Total share capital: During the year O ordinary shares of £1 each were issued, allotted and fully paid for cash at par. During the year, O preference shares of £1 each were issued, aklotted and fully paid for cash at par.
Heartlands Furnithre Notes to the Financial Statements for the Period Ended 31st Iltsrch 2025 7. Related Party Disclosures Name of the ultimate controlling party during the period: D Mildren Name of related paty: L R Mildren Relationship: Spouse Description of the transaction: Loan Balance at 1st April 2024: st Balance at 31 March 2025: The loan is repayable within 5 years. 8. Transactions with Directors Name of Director receiving advance or credÉt: NIA tkscription of the transaction". NIA Balance at I st April 2024.. Advances made: Advances or credits repaid: st Balance at 31 Mareh 2025: 10
I certify that I have examined the financial statements of Heartlands Furniture for the year ending 31 st March 2025. It is my responsibility to forn] an independent opinion, based on my examination, on those statements and on the regularity of the fmancial transactions included in them and to report my opinion to you. Basis of Opinion An examination includes a test basis, of evidence relevant to the amounts, disclosures and regularity of financial transactions included in the financial statements. It also Includes an assessment of any estimates and judgements made by the Treasurer in the preparation of the financial statements, and of wh¢th¢r the accounting policies are appropriate, consislently applied and adequately disclosed. I planned and perfornied my examination so as to obtain all the inforn]ation and explanations which I considered necessary in order to provide me with sutTicient evidence to give reasonable assurance that the financial statements are free from material misstatcment, whether caused by error, or by fraud or other irrcgularity and that, in all material respects, the expenditure and income have been applied to the purposes intended. In forniing my opinion I have also evaluated the overall adequacy of the presentation of infomiation in the financial statements. Opinion In my opinion: The financial statement gives a true and fair view of the state of affairs of Heartlands Furniture for the year ending 31 st March 2025 and of its loss, total income and expenditure for the year then ended and has be¢n properly prepared. I have no observations to make on these fmancial statements. st Signed this I day of December 2025... ..(K. Mount) Examiner