COMMUNITY FURNITURE STORE (RYEDALE) LTD TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 llllll ABHIB(XR 18111ne22 COMPANIES HOUSE A03
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COMMUNITY FURNITURE STORE (RYEDALE) LTD CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Page Report of the Irustees Report of the independent examiner 12-13 Statement of financial activilies (including income and exp."enditure account).. 14 Balance sheet J5-1'6. Cash flow statement 17 Notes to the financial statements 18-25 The following pages do not foTm part of the statutory financial statements: Deiailed Sthtenle of,.financial 8ctivilies
COMMUNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 The iTUStees. who e also directors of the charitable company, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted tbe provisions of the Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). REFERENCE AND ADMtNISTRATIVE DETAILS Registered company number 08384583 (England and Wales) Registered clwity number 1156411 Registered office Unit 29, The Raylor Centre James Street York YOIO 3DW Trust¢¢directO Matthew W Knight (Chair, resigned 19 October 2021) Laura Walker cfreasurer: resigned 19 October 2021) D Graham Mitchell (Chair and Treasurer from 19 Octoir 2021. resigned as Treasur 10 May 20221 Rosalitid M Batcbelor Kelly Cunningham {appointcd lo May 2022) Nicholas T Dennison (appointed 14 December 2021) Sally Dillon (Vice Chair from 10 October 2021) Matthew Farrelly Thomas C Jenkins Michael Kirby (re5igrth 19 October 2021) Prakash Misty (appointed 14 December 2021: Treasurer from 10 May 2022) Nicola A Mooney {resiglled 16 February 2022) Kevin A Moss (ap)Inted 10 May 2022; resigned 9 November 2022) David J Nash (appointed 14 December 2021) Susan E Pearson (resigned 19 October 2021) Emma C Taylor (resigned 19 October 2021) Chief OfficeT Andrew Waites (to 10 September 202I), Rebe Blues (from l November 2021)
COMDAUNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Store Manager David Buck Operations Manager Alice Pimm tndependent Examiner Peter D Hughes, F.C.A. P D Hughes Cottsultancy Services Ltd I I Sails Drive York Y0103LR STRUCTURE, GOVERNANCE AND MANAGEMEIYT (A)Governing Document The Charity is controlled by its governing docvmenL a deed of trust, and constitutes a Company limited by guarantee as defined by the Companies Act 2006. The Company has no share capitsl. Under the memorandum and articles of association, members of the governing board ar¢ directors of the Company and trustees of the Charity. (B) Strneture and Hlstory The charity is part of a group of three separate charities. all with the same objectives and purpose. The other charities are Community Furniture Store {Selby) Ltd and Community Furniture Store (York) Ltd and they operate in Selby distsict and the City of York area. YO was first established operationally in1988 and bame a registered charity in 2000, Selby was founded in 2004 and Ryedale ia 2014. From small beginnings they bave each grown silf1¢all11y to meet the ever increasing needs of the populations they serve. The existing structure of having three separate charities will be reviewed in 2022123. (C) Public Benefrt statement The trusttts hav¢ complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidanc¢ published by the Charity Commission. The company is a regISt¢r ¢harity whose principal object is tbe relief of people in need througb ihe provision of furnitur¢ and otber household items. It does this by facilitating the donation of suitsble iten)s of furnitur¢ from members of the public and commercial enterprises, which are then madc available for sale to people in need at a reasonable cost. (D) Appointrnent of TrusteeslDirectOT5
COMbAUNrrY FURNtTURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Trnste¢s are appointed to swv¢ for thre¢-y¢ar p¢riods. one third retiring by rotation al each annual general meeting, but eligible for re-appointment. From 2019 trustee tms of offLce have been limited to a total of nine years to r¢fl¢¢t Charity Commission good practice guidance. The trustees are empowered to extend that maximum terni at their own discretion. Trustees are recruited through an open and competitive process wbicb includes consideTation of skills and knowledge required to ensure the trnstee board has as wide a range of skills and knowledge as possible. The charity maintains a ttvstee skills'heat rnap" to ensure that when recruiting we are seeklng the correct skill sets. We are ple2sed that the range of skills demonstrated provides a good balance across the board. (E) Objectives, Vision and Purpose The objects of the cbarity applicable in 2021- 2022 are &$ follows.. To relieve generally or indiv1thIlY persons who are in conditions of nee4L hardship or distress by the provision by gill sale, lease or otherwis¢ of furniture or other facilities calculated to relieve such persons. To promole the advancement of educatioD by providing ethatiO0, support and work experience for people who are unemployed or otheNise in need of such training to equip them with the skills necessary to. be able to find employment. To protect and safeguard the eDvifoDment through the practice and promotion of more sustainable waste management activities and tbe education of the public about environmental matters related to reuse and Tecycling of household and industrial waste. To proTnote such other charitable purchases as the tsILSttts/dire¢tors deern to be consistent with the object and ethos of the charity. During 2021122, the board of trustees reviewed the charity's objects. vision and mission. The use of Vision and Mission Statement wording has been simplified so to make it clear to all what OUT charitable purposes are and why we should be supported. The revised version, which is now in use is: What is the Community Furniture Store? Community Furniture Store is a socially active, envirormentslly oriented organisation tbat belps local communilies to improve homes, knves and lrfestyles. Our Purpose Our Purpose is to: Reus¢ & repun)os¢ household it¢ms to improv¢ home5 and lives Realise people's potential & improve their skn'lls by offcring high quality training. employmenl work placements & volunteering opportunities
COMMUNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Activ¢ly promote environmentally sustainable living.
cOMmLf FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 {F) Review of the Year HEADLINES For Ryedale Enforced closures due to staffing i55ues has reduced potential income. New workshop unit leased enablin£ greater tapaeity for work placements. 3,896 household Items sgved from incineration or landfill. 1,507 (39•/0) of donated household items were supplied to 992 families al discounted price& The discount received totsled £17,950. Discount scheme extended to help refugees and migrants not able to Claim benefits. 1,840 litres of paint provided to indivRdu21s and charities. 126 tonnes of donated item$ were reusrf saving 134 tonnes of earbon emissions. For All Three Charities Signifitant strnetural chaD£es in staffing. A number of new trnstees followlng vaeancEes arising. l. Board & Chief Officer Changes- all three charftles In Sept¢mber 2021 our Chief Officer, Andrew Waites, resigned to pursue other opportunities, and we were delighted to appoint Rebca Blues as a new Chief Officer, at the beginning of November 2021. For various unrelated reasons the charity's then Cbair, Vice Chair and Treasurer resigned at the 2021 Annual General Meeting orl 19 Octob¢r 2021. Other trustees have a]so resigned during the year due to external pressures preventing them from devoting time to the needs of the cbarity. Since that date, underthe new chainnanship of Graham Mitchell and together with Rebecca Blues Chief Officer, new and remaining tnl¢eS hav¢ all be¢n tsking an active role in the work of the charities. Th¢ curr¢nt tnLStees collectively bring energy, commitment and a dive¢ skill set, of which the charity is taking fidl advantage. Detailed work on organisational stwctures. resilience, brandin& messaging. financial procedures, specific operntional projects and slaffing are all in train, with different tteeS in working groups with colleagues and staff to tak¢ the chariti¢s as a whole forward to a stronger, brighter future. There is a real drive to rneet the needs of the people we serve, improve efficiencies. and staff welfare. Each work programme has been given recognisable milestones and timetables for completion. all thc current projccts should be completed during alendar year 2023.
COMMUNrrY FURNrruRE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 2. SustaiDabllity - Ryedale The charity seeks to operate in as sustainable a way as its resources allow. Working practices have been reviewed to improv¢ efficiency and minimise resource usage. The amount of carbon saved by reusing goods is estimated to be 134 tonnes. However, in our operdtlODS we necessarily create carbon emissions. Diesel van usage is controlled by making sure that collections and deliverics are organised in the most etTicacious way. Vehicles are regularly maintained and driving habits are monitored via online tracking systems that record driver behaviour. We will move lo electric or hybrid vehicles as soon as possible. Our premises are rented and it is not possible to make physical changes to them, unless the landlord so wishes, so utility usage is higher than we would like. Our two warehouse units are large and take a great deal of heating to maintain staff, work placements and customer comfort. Consideration has been given to various usage reduction m¢asures and we will continue to seek ways to reduce our climate impact. The property market in Scarborough and elsewhere on the coast is monitored for opportunities. Ftnancially, to be sustainable we rely on a high level of sales of goods and some grant funding for our workshop and other projects. We would ideally like to purchase suitable freehold premises to improve financial sustainability by, reducing significant outEoings on rents. etc. The charity has demonstfdted eat resilience. surviving financially and is starting 2022123 operations with a reasonable financial oudook. Our reserves are low against the target we set ourselves, but through sustsined focused efforts we have been successful in achieving significant grant income. maintaining and growing our trading activities. The charity is considered a'going Concern" by th¢ trustees. 3. Organisatlonal ehanges- all three eharities The 2021122 year h&8 seen extremely significant changes in staffing and organisationa] structure, made against a background of operational difficulties arising from the recovery froln the Covid pandemic. which restricteAI opening hours and capacity to work safely. It also affected trading income and activities in a.way which represented an existential threaL Our new Chief Officer, quickly identified ongoiDg issues that meant that the charity was not functioning as well as it could and the trustees agreed to a staffing restructure. which regrettably included some voluntary redunthcies. The Chief OtTicer, who leads the thrcc Community Furniture Store charities in YorL Selby and Scarborough is supported by a full time Group Operations Manager and part-
COMMUNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 time Head of Projecls, Marketing & AdmiTJistration Assistant and a Group FinanL Manager, all of whom work to support the three charities. The Ryedale charity's stsff is led by an Operations Manager managing tbe collection and delivery service as well as the warehouse and retail outlet. A Workshop Supervisor reports to ihe Operations Manager and oversees the workshop service. The board of trustres are keen to see the work done in Scarborough expanded and we envisage a second van operating up and down the coast in the immediate futur¢. with the potential for 0Up. shops further along the timelin¢. 4. Performance and Impact - Ryedale
Re-use v Recycling It is important to stress the position of reuse compared to recycling and other waste management systems when estimating the impact on the environrnent. The '%vaste hierarch, ranks wasle management Options according to what Is best for the environment. It gives top priority to preventing waste in the first place. When waste is created, it gives priority to preparing it for re-use, then r¢cycling. th¢n recovcry, and last of all disposal. Most Preferred Prevention Recover Least Preferred isposa People in Need Customers with proof of low income have continued to qualify for a 30% reduction off the prices charged-to the general public for reused goods. We have extended the discount to recently arrived refugees and migrants referred to us by other agencies. During the year 1.507 items went to people that qualify for
COMbAUNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 the 30% discount, out of a total of 3,896 reused items. 39% of all reused goods. saving the recipients £17,950 compared to the full price. We also recognized the needs of refugees and other migrants who do not qualify for means tested benefits straight away and included those referred to us by relevant agencies in the discount scheme. D came to us as a Wellbeing self-referral as they were struggling with mental health issues after a protratted pefiod of unemployment. Although a capable and intelligent individual. D experienced periods of extreme social anxiety and depression that prevented them from leaving their home or interacting with family. Having a space that allowed them to make use of their existing high skill set but was accepting of their intermittent periods of illness, gave D a boost in confidence and has helped them to manage their depression. which was often a result of the negativity around their anxiety. The change in Workshop Supervisor proved to D that they can manage the issues around change that they previously couldn't handle: because of this D has taken on a part time paid role, spread their voluntary time across three new charities, and says they . ..now have the toolkit to cope"
Environmental Impact - Ryedale In total the estimated weight of all reused goods prevented from being declared waste and destroyed amounted to 126 tonnes. This equates to Saving 134 tonnes of carbon en)issions. (G)Financi21 Review - Ryedale Total income from charitable activtties in 2021r22 £130.897, an increase of £60.000 on the previous Covid impacted yearand £48.000 bett¢r than pre-covid trading which generated £92.569 in 2018119. This success reflects a significant increase ID activity both in the sale of donated items and in workshop activity. The forecast trading sUlUS on sal¢ of goods in 2021122 was set at £99.471 and the 5Utplus achieved was £113.435. Otber operational income totalled £4,638 and grdnts totsling £59,548 were atefvlly received. Total income from all sources amounted to £190,450. Total expenditure was £176,274 compared to £150,967 in 2020121 and was sllghtly in excess of a forecast of £170,767. The increase in costs can be attributed to an increase in statying levels due to incrw¢d d¢mand for s¢rvic¢s. Th¢ charity bas shown a financial surplus of £14,026 during the year, primarily because of grant funding and increased trading. The charity remains reliant on some grdnt funding each year towards development costs and workshop wages.
COMMUNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Grant incorne was e1Ved from TnLsthouse Foundation. Woodsmith Foundation, Awards for All, Northern Rail and Community knprovement Fund and we are grateful for their support thiring this year of ongoing Covid recovery and change. The priority for ihc coming year wi]1 be to continue increasing trading levels and expanding our collection of donated items by operating a second van. Other Priorities will be to increase Gift Aid incomq car¢ful control of expenditure and the rebuilding of c&sh reserves. (H)Reserves Policy- Ryedale The governing board has developed a policy to hold unrestricted funds not invested in fixed assets of between tbree and six months of budgeted ovethead expenditure excluding exceptional items. Jn Febrnary 2021 the Board agreed a budget with overhead eXpenditte of £168,195 for the year ending 31 March 2022. Net curreni assets increased over the past year to £34,351 a significant improvement on previous years. but they are likely to reduce again. befor¢ fLffth¢r funding for thc workshop and other development proj¢¢ts is received. We look forward to continuing to develop the Stott's Seice5 to assist local people. We greatly value all the support we receive from donors of reusable goods, customers and fijnders. ID MARKETING & SOCIAL MEDIA- all three charities Even with the constraints imposed by the pandemic. concrete progress bas been made to improve the Charity's social media presence, particularly tbrough Facebook. Much remains to be don¢ and this is a priority area for development, but we are particularly gratefvl to Laurd Thackray, who undertook an internship and in March 2022 provided a report on a range of marketing issues that is receiving attention. (J) IUSK REGISTER- all three charities During the year tbe charities bave again revised their Risk Registers in line with the group's updated Strdtegy. A colour ci)ding methodology has been introduced to aid monitoring. (K) WORKSHOP 50 Yolunteers and work placement during the reporting year. 4718 volunteer hours accumulated. The charity h&s l¢as¢d another unit on the same site and the workshop has moved into that unit, giving people much more opportunity to learn and display skills. In
COMMUNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 September 2022, the refail unit took advantsge of the extra space creaied as a result of the workshop moving oul presenting a much more attractive retail experience. W¢ plan to extend the opportunities to attend Ihe workshop to a wid¢r range of people. (L) STAFF APPRECIA TION We congratulate Rebecca Blues on stepping in so effectively to her prajecessor's sho¢s and steuing the charity through the final months of an extremely disrupted year and we thank all the York staff for their work and flexibility during a year dominated by recovery from th¢ ¢ffects of the pandemic and the major restTUCture which involved many changes in stsff roles. in personnel and in working practices. (M) GROUP RISKS & OPPORTUNITIES - all three charities There are risks and oppominities awaiting all thr¢e charities. The following are arnong the main issues being actively addressed: l. The creation of North Yorkshire Council and removal of District Councils arjd the putative creation of a combined York & North Yorkshire Authority means great changes in the way we are able to internct with some services (e.g. social services, housing departments). 2. The ability of the charity to properly reward our staff, without further increasing prices charged to people in need. 3. Managing costly resources effectively and improving sustainable use of staff, vehicles and premises. 4. Collecting suificient donated itans of furniture etc., to allow us to meet the growing and urgent needs of people in furniture poverty. 5. Reviewing the structure of our three charities to seek efficiencies of scale thal would strengthen our abilities to reach more people and communities. 6. Seekn'ng opportunities to work with others to extend our York based IT Project geographical spread. 7. Develop a programme to capitalise on The Reuse Network's 'f it for Reuse" project by repairing white goods etc., and placing them back into use. 8. The expansion of access to an affordable supply of household goods across all locations, but especially in Scarborough where we have already identified a great need up and down the Yorkshire Coast. 9. D¢v¢loping an online sales channel to expand our reach, and in]prove charity income. 10. Expanding and improving our workshop training services and volunteering opportunities that deliver identifiabl¢ outcomes for the service users. I l. Improving our financial streDgth so as to continue to provide essential services to people in need. io
COMMLTNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 (N)CONCLUSION & OUTLOOK- all three charlties Between Ihem, the three Community Furniture Store chariti¢s help thousands of local people each year and in 2021122 together facilitsted the reuse of13,698 household items, weighing an estimated 464 tonnes. The trustees of the three charities are confident thaL across the group, the recent staffing restructure and the various projects aiming to meet the challenges ahead will enable us lo not only meet the challenges we face, but also improve the charities, reach and visibility thereby enabling them to collect more reusable items and serve more people. The Trustees and staff are working bard to irnprove all of the charities. abilities to Tespond to ever increasing needs and help end fijrniture poverty in the communities w¢ serve. Signed on behalf of Board of Tntstees itchell Prakash Mistry hair 15 November, 2022
COMMUNITY FURNITURE STORE (RYEDALE) LTD REPORT OF THE tNDEPENDENT EXAMtNER FOR THE YEAR ENDED 31 MARCH 2022 I report to the charity trusiees on the accounls of the Company for the year ended 31 March 2022, which are set out on pages 14 to 25. Respective responsibilities oftrustees JlDd examiDer As the charity's trustees of the Company (and also its directo for the puwses of company law) you are responsible for the preparation of accounts in accordance with the requirements of the Companies Act 2006 {'Xhe 21J)6 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of ihe 2006 Act and are eligible for independent examination, I report in respect of my examination of.your charity's accounts as Caled out. under section 145 of ihe Charities Act 21Jl l ('%he 201.1 Act"). In Carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement I have cornpleted my examination. I confirni that no material matters have come to my attention.in.conne"ction with the examination giving'me cause to'believe that: accounting tecords were noi kept in respect o'f the Company as required by section 386 of the 2006 Act: or the accounts do not accord ivith those records- or the accounts do not comply wiih. relevant accounting requirements of section 396 of the 2006. Acl'other than.any requirement thal" th.e accounts give a "true and.'fair" view which. is "not a matter. considered as part.of. an independent .examination' or the'accounts have not tren prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by Charities (FRS102). 12
COMMUNTfY FURN[[ STORE (RYEDALE) LTD REPORT OF THE ]NDEPENDENf EXAMINER FOR THE YEAR ENDED 31 MARCH 2022 I have no concerns and hav¢ come across no other mattus in COTtnection with the examination to which attention should be drawm in this report in order to enable a proper understanding of the accounts to be reache(I P D Hughes F.C.A. P D Hughes Consultancy Services Ltd I I Sails Drive York YOIO 3LR 15 November, 2022 13
COMMUNtTY FURI STORE (RYEDALE) LTD STATEMENf OF FINANCIAL AcfiviTIES (INCLUDING COmE AND EXPENDrruRE Accoutrrr) FOR THE YEAR ENDED J I MARCH 2022 Note Unrtricted Restricied funds nds 2022 2022 Total funds 2022 Total fimds 2021 Income Donations Income from charitable activities Inveslment income 20.261 130.897 39,287 59,548 130.897 118,028 70,775 13 Total income 151163 0 188 816 Expendlture Expendirure on cbaritable activities 5 157 137 17 I7 424 150 967 Totsl expendlture 157 137 17 19 287 1SQ2L7 Net (expeDditureVincome and nel movement in funds for the ye*r (5,974) 20.000 14.026 37.849 RecoDciliation of funds Tothi fimds brougbt forward Total funds carried fonward The statement of finaDcial aclivits"¢s in¢lud¢s all gains and 10&8es in Ibe year. All incoming resources and resourcL% expended derive from continuing aclivitie5. 14
COMMUNITY FURNITURE STORE (RYEDALE) LTD COMPANY NUMBER 08384583 BALAN SHEET AT 31 MARCH 2022 Note 2022 2021 Flxed assets Tangible assets Current assets Stocks Debtor5 Cash at bank and in hand 10 1,659 9.753 1.704 6,830 63,172 64,651 Liabilities Creditot5.' amounts falling due within one year 12 Net current Assets Total a55ets less current liabilities 64.551 56,972 Llabilities Creditors.. amounts falling due after more ¢haD ODe year Nel assets The funds of the charity Unrestricted income funds Restricted income funds 14 14 38.060 44.034 Total th&rity fund$ These accounts have been prepared in accordance with the spla1 provisions relating to $mall companies within Part 15 of the Companie5 Act 2006 and with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicablc in th¢ UK and Republic of Ireland (FRS 102) (effeaive I January 2019). For the financial year ended 31 Morch 2022 th¢ company was entitled to exemption from audit under se¢tion 477 of the Companies Act 2006" and DO noti¢e has been deposited under section 476. 15
COMMifNITY FURNITURE STORE (RYEDALE) LTD COMPATrIY NUMBER 08384583 BALANCE SHEET AT 31 MARCH 2022 The directors acknowledge their resnSIbilitieS for ensuring thai the. company keeps accounting records which comply with section 386 of the Act and for prepaTing accounts which give a true and fair view of the state of affairs of the company as at the end of the finan¢ial year Ènd of ils surplus ord¢fi¢it forthe fuwieial year in accordance with the requirements ofsections 394 and 395 and which otherwise comply with the requiremen¢s of the Compantes Act 2006 relating to accounts. so far as applicable to the company. . The financial statements were approved by the Board of Trustees on I S Novcmt*r 2022 aDd were signed on its b¢half by: Prakash Misty 16
COMMUNrrY FURrn STORE (RYEDALE) LTD CASH FLOW STATEMEKf FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Cash generated from operAtlng actiyltles Income for the year 14.026 37.849 Reconciliation to net cash intlow from operations: Decreasel(increase) in St(kS Increase in debtOTS (Decr¢as¢yincr¢ase in creditors Interest on hire purchase &eements D¢pr¢ciation of tangible fixed a& 45 (2.923) (12.314) 51 (887) (2.183) 507 88 Net cash infiow from operating *ttiviti 2.141 40.164 FlnaDcing activities Hire purchase payments Net (de¢re4Se)rin¢re Tn wh (4.357) 33,666 Cash at bank and in hand at tb¢ beginning of the year Ch al bank aDd in band at tht end of tht year 17
COMMUNTfY FURNI STORE (RYEDALE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 l Ac¢ounting policies The accounting policies have been applied consistently throughout tbe yearand in the preceding year. Ba515 of accouDdDg The financial staternents have been prepared under the bistorical cost cA)nvention at)d in accordance with the Companies Aci 21X and with the Staiem¢nt of R0Mmended Pra¢ti¢¢ 8pplieable to charities preparing their accounts in accordance with the Financial Reporting Stsndard appIlble in ihe UK and Republic of treland (FRS 102) effective l January 2019 ("the SORP"). Intome rttt)gnldoh poltdes Items of in¢ome are retognised and included in the financial statements wben all of the following criteria are met: th¢ charity has ¢ntitlcmeDt to the fimds" any perfornDce conditions attacbed to the item(s) of income have been met or aT¢ fully within the control of the eharity" there is sufficient certainty that receipt of the income is wnsidercd probabl¢" and the amount can measured reliably. lo particular. wbcrc th¢ tern of grant income are that it can only be utilised againsi expendi in years following tbe balance sheet date. the granr is not recognised a5 income in the year but is iostcad tr¢at¢d as d¢f¢tr¢d income within creditors. Donated gd$ The charity operates a retail Gift Aid scheme whereby it administers the sale of fiwniture on behalf of members of the public, who then donate the proceeds to the chaTity. enabling it laim a lax credit. While this is legally eonsidered io be a cash donation, in economic subslancc il is similar to a trading activity. and therefore both th¢ 5a1¢ proceed8 and the thx credit are included wiihin "inwme from ¢haritabl¢ activities-. The SORP requirt% that donated goods should be measured at fair value. The chlty has taken advantsge of tbe exemption in tbe SORP which allows this treatment not to be adopted if IT As impractical to me&sure the fair value of goods donated for resale or if the costs of valuation outweigh ihe benefit to useTS of the accounts and the charity of this information. Donated gwds are therefore recogmsed when ihey are sold. 18
COMMUNrrY FuRf STORE (RYEDALE) LTD NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED JI MARCH 2022 Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. Charitable expenditure comprises the costs of operating the store. Governance costs are included within exwlditure on charitable activities and are analysed separalely in the notes to the financial stalements. They include those costs &ssocialed with meeting the ¢onstitirtional and statut(ry wuirements of the chariry, such as accounlancy and otheff costs linked to the strategic management of the charity. Fixed *$sets Depreciation is provided at ihe following rntes in order 10 wrlte each asset down to its expect1 residual value over its useful life= Fixiures and fjttings 100/0 stroight line Plant and ma¢hincry 20Yo reducing balance Motor vehicles 20Yo reducing balance Stocks Stock5 are valued at thc lower of cost and net realisable value after makin8 allowance for obsolete and sl¢)w moving it¢ms. Hire purchase Agreements Where an asset is purchased urth a hire purcbasc agreement. the asset is eapitalised and depreciated over ils estimated usefvl life. The cash pric¢ is treated as aD obligation under a hire purchase agreement and recognised as a liability. The liability is reduced as payments are made, and iDtercst is recosniscd as an expens¢ and an iD¢rease in the liability. Tax4tion The charity is exempt from ¢orporation tsx on its charitable activities. Fuud xttouttting Unrestrictea funds are available for us¢ at the discrelion of the trustees in furtherdn¢e of the general objectives of the clwiry. Restricted fimds are subjecied lo resttictions on Ih¢ir expenditure. Restricliow arise when specified by the donor or when funts are ratsed for panicular restricted purposcs. 19
COMMtfNrrY FLfRNfruRE STORE (RYEDALE) LTD NOTES TO THE FfNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Cash flow Statement The SORP does Dot require rhe provision of a cash flow ststement for cbarities which have a gross inwrne falling below £5(KI.CKKI. The trustees believe that o cash flow ststement is necessary for a fvll understanding of the financial statements aTtd have therefore included a cash flow statement. 2 Donations 2022 2021 Grants The ¢otal income from grants and donations CODSlSted of restricted fimd income of £39,287 (2021.. £23.574) and unr¢stri¢t¢d fi1 inclxne of £20261 (2021: £94,454). The restricted fund income included £9,287 from the Wd511t Foundation (fornierly Sirt Minerals) towards po-CoV1d rebuildwhich was received in 2020121 and Dot recognised in thai year but def¢ed and recognised in 2021122: and also £IO.000 from the Nationa] Lottery Fund towards development WOTk, and £20,000 from Northern Rail towards workshop expenditure. Additionally. thue was a restricted fund balance of £5.430 brought forward from 2020121, given by Sirius Materials towards IT costs. This has rK)t yet been spent. All restricted fund income was spent in the year, with the exception of the £20.000 from Northern Rail. Unrestricted incotne included £261 under the GoveTDment's CoTonavirus Job Retention Scheme. 3 Intome from eharftable *etfviiles Shop income Sale of scrap metal Gift Aid tax credit 126.259 78 69.771 Shop income includes £18.805 (2021.. £4,141) Tepresenting donation5 frorn members of the PLEblic on which Gift Aid has been claimed from sale of their goods through ihe retsil Gift Aid scheme. 20
COMMUN FURTr STORE (RYEDALE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 4 Investment income All of the charity's investment income arises from money held in intert iwing d¢posit accounts. S An*lys15 of eipendlture on charllable activities 2022 221 Direct costs". Cost of gcrt)ds sold Van and driver hire 12.824 75 10.198 Support costs". Wages aod salaries 141anagement charges G¢n¢ral offi¢¢ costs Accountancy Legal and professional Hire purch&8e inierest 92.100 14.938 49.753 ,500 2.455 75,968 9.298 47.960 1,505 3,895 138 Governance costs: Managem¢Dt charges Accountancy aDd iodependent wmination 653 653 The managerneDt charge is apF¥)rtioned between support and governance costs on the assumption that. of the amouDt of the chief officer's and finance officer's salary costs treaied as governance costs in Ibe financial slatements of Community Furnire Store (York) Lid, one third is included within the management charge levied on the charity. Accountancy costs are allocated to governance costs whe they relate to inforniation prepared for llwstee5' meetings. 21
COMlAu FURNITURE STORE (RYEDALE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 6 Net (expenditureyincome for ytar 2022 2021 Net {expeDth'wr¢yincome for the year is stated after cbaTgin8: Depreciation- owned assets Fees paid to independent exam1r. Independent examination Other accountancy, VAT and consultancy services 3256 4,790 2,307 7 Trus¢eeg' remuneration and eenseS No trustees were reimbursed any sums in SpeCt of travel expenses during the year or the previous year in relation to their tnte¢ duti. 8 Staff costs wag and salaries Social security costs Payments to defined contriburion pension schemes 85.969 5,459 672 70.597 4.765 The averdge number of staff during the year was five {2021: four) and the average number of fu114im¢ ¢quivai¢nt staff during the year was five (2021: four). No employees had employee benefits ID uccss of £60.IJ)0 (2021: nil). 22
COMMUNITY FURNIT STORE (RYEDALE) LTD NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 9 T*nglble fixed assets Fixtures & fittings Plant & machinery Motor vehicles Totsl Cost.. At l ApTiI 2021 Addilions 1,720 358 22.860 24,938 At 31 March 2022 358 24 Depreciation: At l April 2021 Charge for the year 620 172 175 7,620 8,415 At 31 March 2022 792 212 io L7 11671 Net book value: At 31 March 2022 At 31 March 2021 10 Stocks All the amounts showo as stocks are in respcct of gotds for resale. See note I for the treatment of donat¢d stock. 11 Debtors 2022 2021 Trade debtor5 Other debtors: VAT repayment Gift Aid tax credit Sundry debtors Grants due Prepayments and accnjed income 464 876 1.312 4.560 31N) .359 2.475 23
COMMIINITY FUIlTr STORE (RYEDALE) LTD NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2022 12 Creditors: amount5 f*l]ing due within one year 2022 2021 Trade credito Hire purcbase agreements AccTuals and defetred iacome 3,722 6.497 6.497 13 Creditors: amounts falling due after more tbAn one year Hire purcha agrments 14 Analysts of Del assets between fulld$ Genernl Restricted nd nds Total Tangible fixed assets Current assets Creditors.. amounts falling due within one year Creditors.. amounts falling due after more Iball one year 13.267 37.742 13.267 63,172 25.430 {11,888) (11.888) Net asscls at 31 M8r¢h 2022 24
COMMUNtTY FURNI STORE (RYEDALE) LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 15 Movement ID funds April 2021 tncomc EXditUre Transfers 31 March 2022 Unrestricted income fuDd5: General fimd 151 163 Restricted income funds.. Development work Post-covid rebuild WorLshop rr wuipment 10,(KJO 9.287 20,¢XIO (10.000) (9287) 20.000 l9 Total fut The sources and pur of the restricted fimd5 are ¢xplain¢d at no* 2. J5 Related parties The trustees of th¢ Charity are also Ihe truste¢s of Community Furniture Store (York) Lid. During the year, the charity received invoices totalling £19.754 plus VAT (2021.. £15.099) from Community Furniture Storc (York) Ltd. A total of £1.413 {2021.. £12.802) related to the recharge of stock. £14.622 plus VAT (2021: £10.732) related to managelnent charges. and the remainder CODSiSted of th¢ r¢charge of otTJc¢ ¢qutpment and prof¢ssioDal fees. 16 Operatlng lease commitments The clwity had tbe following future minimum leas¢ paJTnents under non-WL¢ellable opernting leases for the following periods: 2022 2021 Within one year 25
COMMUNITY FURNITURE STORE (RYEDALE) LTD DETAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2022 Unrestrtcted funds 2022 Restricted funds 2022 Totsl funds 2022 Total fijnds 2Q21 INCOME Donations Grants and donations 118028 Income from charitable activities Shop inwm¢ Sale of Tap metal Gift Aid tsx credit.. 126.259. 78 126,259 78 69.771 130897 7 70775 Investment income 13 Total intome 151 163 190450 81 EXPENDITURE (see page 27) 157 137 176424 150967 NET (EXPENDITUREyII¥COME This page does not forn] part of the $tslu¢ory financial statement 26
COMMUNI FURN STORE (RYEDALE) LTD DETAILED STATEMENf OF FtNANClAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Unrestricied Restri¢ied funds 2022 Total fi&$ 2022 Total nds 2021 2022 EXPENDrruRE Exp¢Dditure on eh#rit#blt Aetivities Cost of sales: Cost of g(N)ds sold Van and driwtt hire 12.824 750 12,824 750 10,198 10 SupFK)rt cosl5'. Wages and salaries Management charges Rent and rat Service charges Jnsurance Light and heat Telephone Postage and stationery Adrtising Membership f¢¢s Software support Uniforms and pcr50nal PTOtCCiiv¢ equipment Training Staff entertaining and gifts Motor and travel expenses Repairs Workshop proj¢¢t Stock control and till maintenance Legal and professional Accountancy Storage Sundry expendilure Depreciation of tangiblc fixcd assets Hire purchas¢ interest Bank charges and inleKst 72,813 14,938 18.150 130 1.756 19,287 92,1 IX) 14.938 18.150 130 1,756 75.968 9.298 18.108 1,950 1.487 775 2.371 6.105 35 I,0 290 328 210 5J45 1,386 368 2.250 3,895 1,505 678 1.627 2.338 6202 285 931 5(K) .627 2.338 6202 285 931 500 360 4234 360 4.234 527 3.5(X) 2.455 527 3.500 2.455 1,500 2.128 2.128 3256 50 966 3256 50 4,790 88 47 141510 160 797 138 714 Governan¢¢ ¢o$ts Management cbarge5 Accountancy 653 653 653 Total ¢xpendlture Thls page does not fonn part of the ststhtory IInand statejnents. 27