OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

COMMUNITY FURNITURE STORE (RYEDALE) LTD

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

COMMUNITY FURNITURE STORE (RYEDALE) LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Report of the trustees 1-7
Report of the independent examiner 8-9
Statement of financial activities (including
income and expenditure account) 10
Balance sheet 11-12
Cash flow statement 13
Notes to the financial statements 14-21
The following pages do not form part of the
statutory financial statements:
Detailed statement of financial activities 22-23

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also directors of the charitable company, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of the Statement 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 1 January 2019).

REFERENCE AND ADMINISTRATIVE DETAILS

Registered company number 08384583 (England and Wales) Registered charity number 1156411 Registered office Unit 29, The Raylor Centre James Street York YO10 3DW Trustees/directors D Graham Mitchell (Chair) Rosalind M Batchelor (resigned 15 November 2022) Sally Dillon (Vice Chair) Matthew Farrelly Thomas C Jenkins Kelly Cunningham Kevin A Moss (appointed 10 May 2022; resigned 9 November 2022) Nicholas T Dennison David Mash Prakash Mistry (Treasurer from 10 May 2022) Chief Officer Rebecca Blues Independent Examiner Peter D Hughes, F.C.A. P D Hughes Consultancy Services Ltd 11 Sails Drive York YO10 3LR

1

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

A. GOVERNING DOCUMENT

The Charity is controlled by its governing document, a deed of trust, and constitutes a Company limited by guarantee as defined by the Companies Act 2006. The Company has no share of capital. Under the memorandum and articles of association, members of the governing board are directors of the Company and trustees of the Charity. B. APPOINTMENT OF TRUSTEES/DIRECTORS

Trustees are appointed to serve for three-year periods, one third retiring by rotation at each annual general meeting, but eligible for re-appointment. From 2019, trustee terms of office have been limited to a total of nine years to reflect Charity Commission good practice guidance.

During the reporting period the following changes occurred in the trustee board:

Subsequent to the reporting period:

C. PUBLIC BENEFIT STATEMENT

The trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The company is a registered charity whose principal object is the relief of people in need through the provision of furniture and other household items. It does this by facilitating the donation of suitable items of furniture from members of the public and commercial enterprises, which are then made available for sale to people in need at a reasonable cost.

D. STRUCTURE & HISTORY

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 (York) Ltd and Community Furniture Store (Selby) Ltd and they operate in Selby and York districts. The organisation shares a central management and administration team with 25% of resource costs allocated to each of CFS Selby and CFS Ryedale and the remaining 50% to CFS York.

2

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

The existing structure of having three separate charities was reviewed at the Annual General Meeting held 15/11/2022 and it was agreed that work should commence to seek a merger of the three charities to achieve economies of scale and respond to changes in Local Government. This work is ongoing.

E. OBJECTIVES, VISION AND PURPOSE

The objects of the charity were amended at the Annual General Meeting on 15 November 2022 after the proposed changes received Charity Commission approval. The revised objects are now as follows:

• To relieve generally or individually persons who are in conditions of need, hardship, or distress for reasons including, but not limited to, lack of resources, sudden emergency, ill-health, disability, or other disadvantage.

• To provide by gift, sale, or otherwise, furniture, household goods and other items or services to relieve need, hardship or distress and prevent exclusion from essential services.

• To raise public awareness of, and encourage recycling, reuse, or repurposing of furniture and other household items, including by collecting unwanted items and making them available for others to use.

• To promote and provide life and work skills support and work experience for people who are unemployed or would otherwise benefit from such services.

F. REVIEW OF THE YEAR

3

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

G. BOARD & CHIEF OFFICER CHANGES – ALL THREE CHARITIES

During the 2022/23 fiscal year, under the leadership of Chair Graham Mitchell and Chief Officer Rebecca Blues, active participation was noted among both new and incumbent trustees in the charity's operations. Reviews were conducted of the charity's objectives, purposes, and articles of association, and were accepted by the Charity Commission.

The board of trustees brings a dynamic mix of skills and dedication to the table, and this wealth of expertise is actively utilized. Focus has been placed on organizational restructuring, resilience building, brand development, messaging, financial processes, and specific operational initiatives. These areas are managed by various working groups, consisting of trustees, colleagues, and staff, aiming to advance the organization toward greater stability and effectiveness.

Efforts are geared toward meeting the needs of the served community, enhancing operational efficiency, and promoting staff well-being. Each work programme has been structured with clearly defined milestones and timelines, with the expectation that current initiatives will reach completion within the calendar year of 2023.

Subsequent to the end of the reporting year Rebecca Blues resigned as Chief Officer in order to pursue other opportunities. The board subsequently appointed Katy RidsdillSmith as Chief Executive Officer. Tom Meares, Head of Projects, has also decided to leave the charities to pursue an opportunity leading another charity; he remained with the charities on a part-time basis to assist in the handover of responsibilities to Katy, which is much appreciated.

H. ORGANISATIONAL CHANGES – ALL THREE CHARITIES

The fiscal year of 2022/23 marked a period of substantial alterations in both staffing and organisational framework, set against a backdrop of operational challenges. These challenges were notably influenced by the ongoing recovery from the Covid-19 pandemic compounded by the increased cost of living. During this period, the Chief Officer conducted a thorough review of the staffing structure with the objective of enhancing organisational efficiency.

Upon full staffing, the Chief Officer, responsible for leading the Community Furniture Store charities in York, Selby, and Scarborough, is aided by a full-time Head of Projects, Administration Assistant, and a Finance Manager. These roles are designed to collectively support the functioning of all three charities.

For the Scarborough based charity, an Operations Manager oversees the logistics of the collection and delivery services in addition to managing the warehouse and retail outlet and a Workshop Supervisor manages volunteers and work placements in the workshop. To ensure full compliance with employment laws, the trustees and management of the charity engage the expertise of Human Resources Consultant Karen Weaver.

4

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

I. REUSE & SUSTAINABILITY

During the 2022/23 financial year, concerted efforts were undertaken to bolster operational sustainability through the introduction of resource-efficient procedures and initiatives aimed at reducing the carbon footprint. These actions have led to an estimated carbon offset of 189.4 tonnes, primarily through the reuse of goods. However, the environmental implications of diesel van operations were recognised. To tackle this issue, precise route planning was executed, and online tracking systems were utilised to monitor fuel efficiency and driving behaviour. The possibility of transitioning to electric or hybrid vehicles is also under exploration.

In terms of sales demographics, it was noted that a significant number of transactions involved individuals not in receipt of means-tested benefits, the criterion used for gauging the risk of furniture poverty. This trend appears to be in line with a broader societal move towards sustainability and the reuse of items, which aligns with the organisation's objectives.

J. HELPING PEOPLE IN POVERTY

To address financial vulnerability and minimize poverty risk among individuals eligible for means-tested benefits, a 30% discount is offered on the organisation's range of reconditioned items. This discount aims to serve those with limited financial means by providing a more economical option compared to purchasing new goods, which could further strain their financial situation and lead to potential indebtedness. In the past financial year of 2022/23, Community Furniture Store Ryedale has been deeply involved in community outreach, offering high-quality, reused furniture to those in need.

K. WORKSHOP

The Community Furniture Store Ryedale workshop is designed to serve as an inclusive space aimed at skill development and community engagement. The workshop focuses on upcycling donated items to create products for sale, serving multiple purposes including vocational training and social welfare. The workshop offers a range of woodworking and general work skills, from using power tools to understanding workplace safety. The workshop supports anyone experiencing social isolation, unemployment, low confidence, or mental health issues. In addition to providing training, the store sells low-cost furniture to the community, offering discounts to those on low incomes.

In April 2022, the activities of the workshop expanded and the charity took on the lease of an additional unit nearby to house the workshop, where the number of attendees has increased. The unit also stores stocks of new goods and allows space for electrical testing of items for sale. The additional costs are expected to be offset by the production of items for sale in the main store. The space released in the main unit has allowed a much-improved layout improving the retail experience of customers.

“Rita is a retired individual who had been isolated since the pandemic had joined the workshop. They had felt depressed and alone before coming to the workshop and found

5

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

it difficult to motivate themselves. Having the regular space to come and use the space and the opportunity to see her work sell and support the store to help other people has boosted her confidence and alleviated her poor mental health.” -- Alice Pimm, Operations Manager.

L. VOLUNTEERS

Volunteering within the store provides individuals with the chance to learn new skills and help others in the community. Individuals who volunteer with Community Furniture Store Ryedale learn a range of skills including manual handling, health and safety, customer service, communication, and administrative skills. Over the past year we have supported 62 individuals to volunteer in the store and workshop.

M. FINANCIAL REVIEW

In the fiscal year 2022/23, the total income generated from charitable activities was £157,857 marking a significant increase of £27,000 compared to the previous year. This performance also surpassed pre-pandemic levels from 2019/20, which stood at £93,114, representing a remarkable 70% growth. The gross surplus from the sale of goods for the year was £137,004, calculated as sales minus purchases. Additional operational income, including Gift Aid amounted to £6,456 and we received grants totalling £26,000. Consequently, the total income from all sources reached £183,857. Great progress has been made by the staff to improve the take-up of Gift Aid by donors with the amount claimed for the year by 38%.

On the expenditure side, the total outlay was £184,795, higher than the £162,850 spent in 2021/22, reflecting increased staff numbers to cope with increased activity. There was a deficit of £15,335 for the year, in contrast to a surplus of £14,026 in the previous year, caused by a large reduction in new grant funding of approximately £33,000. Cash balances as at the year end amounted to £28,830.

The charity has rented an additional unit on the same site increasing overheads but freeing up retail space and increasing the output of items for sale from the workshop. Early indications are that this will prove to be a very positive step, both financially and in meeting our charitable objectives.

As of March 2023, we have transitioned to being a Real Living Wage employer. Supply chain issues and rising costs from suppliers continue to pose challenges, which we are mitigating by diversifying our supplier base.

N. RESERVES POLICY

The governing board has developed a policy to hold unrestricted funds not invested in fixed assets of between three and six months of budgeted overhead expenditure, excluding exceptional items.

Budgeted overhead expenditure for the year ending 31 March 2023 was agreed at £191,134 in February 2023. Net current assets at 31 March 2023 total £33,475, a reduction from the 2022 year end figure of £51,284. This is below the target minimum of £47,833. As such the recovery of cash reserves remains a high priority. The value of donated items, from which we derive a large part of the charity’s income, is not included

6

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

in the above valuation of our reserves. Average monthly sales of donated items total £13,500, which mitigates the shortfall to a certain extent, providing donation levels are maintained.

Community Furniture Store Ryedale greatly values the continuing support of donors of reusable goods, customers and funders.

O. STAFF APPRECIATION

We congratulate and thank Rebecca Blues on her leadership of the charities and wish her well for the future, departing from her role at the end of July 2023. She has been actively supported by Tom Meares as Head of Projects. We thank all the Ryedale staff for their work and flexibility during a year dominated by many changes in staff roles, in personnel, and in working practices.

Signed on behalf of the Board of Trustees

…………………………… …………………………… David Nash Prakash Mistry Chair Treasurer

28 November, 2023

7

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 31 MARCH 2023

I report to the charity trustees on the accounts of the Company for the year ended 31 March 2023, which are set out on pages 10 to 21.

Respective responsibilities of trustees and examiner

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act 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 2011 (“the 2011 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 completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

8

COMMUNITY FURNITURE STORE (RYEDALE) LTD

REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 31 MARCH 2023

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

P D Hughes F.C.A.

P D Hughes Consultancy Services Ltd

11 Sails Drive

York YO10 3LR

28 November, 2023

9

COMMUNITY FURNITURE STORE (RYEDALE) LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note
Unrestricted
Restricted
funds
funds
2023
2023
£
£
Income
Donations and grants
2
-
26,000
Income from charitable activities
3
157,857
-
Investment income
4
-
-
Total income
157,857
26,000
Expenditure
Expenditure on charitable activities 5
170,760
28,432
Total expenditure
170,760
28,432
Net (expenditure)/income and net
movement in funds for the year
6
(12,903)
(2,432)
Reconciliation of funds
Total funds brought forward
38,060
25,430
Total funds carried forward
25,157
22,998		 Total
funds
2023
£
26,000
157,857
-
183,857
199,192
199,192
(15,335)
63,490
48,155		 Total
funds
2022
£
59,548
130,897
5
190,450		 Total
funds
2022
£
59,548
130,897
5
190,450

176,424

176,424

14,026
49,464
63,490

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

10

COMMUNITY FURNITURE STORE (RYEDALE) LTD COMPANY NUMBER 08384583

BALANCE SHEET AT 31 MARCH 2023

Note
Fixed assets
Tangible assets
9
Current assets
Stocks
10
Debtors
11
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within one year
12
Net current assets
Total assets less current liabilities
Liabilities
Creditors: amounts falling due after
more than one year
13
Net assets
The funds of the charity
Unrestricted income funds
15
Restricted income funds
15
Total charity funds		 2023
£
14,680
3,089
9,844
28,830
41,763
(8,288)
33,475
48,155
-
48,155
25,157
22,998
48,155		 2022
£
13,267
1,659
9,753
51,760
63,172
(11,888)		 2022
£
13,267
1,659
9,753
51,760
63,172
(11,888)
51,284
64,551
(1,061)
63,490
38,060
25,430
63,490

These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the Statement 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 1 January 2019).

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

11

COMMUNITY FURNITURE STORE (RYEDALE) LTD COMPANY NUMBER 08384583

BALANCE SHEET AT 31 MARCH 2023

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

The financial statements were approved by the Board of Trustees on 28 November 2023 and were signed on its behalf by:

…………………………… …………………………… David Nash Prakash Mistry

12

COMMUNITY FURNITURE STORE (RYEDALE) LTD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

2023
£
£
Cash generated from operating activities
Net (expenditure)/income for the year
(15,335)
Reconciliation to net cash (outflow)/inflow
from operations:
(Increase)/decrease in stocks
(1,430)
Increase in debtors
(91)
Increase/(decrease) in creditors
1,815
Interest on hire purchase agreements
21
Depreciation of tangible fixed assets
2,945
Net cash (outflow)/inflow from operating
activities
(12,075)
Investing activities
Purchase of fixed assets
(4,358)
Financing activities
Hire purchase payments
(6,497)
Net (decrease)/increase in cash
(22,930)
Cash at bank and in hand at the beginning
of the year
51,760
Cash at bank and in hand at the end of the year
28,830		 £
14,026
45
(2,923)
(12,314)
51
3,256		 2022
£
2,141
-
(6,498)
(4,357)
56,117
51,760

13

COMMUNITY FURNITURE STORE (RYEDALE) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

The accounting policies have been applied consistently throughout the year and in the preceding year.

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and with the Statement 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 1 January 2019 (“the SORP”).

Income recognition policies

Items of income are recognised and included in the financial statements when all of the following criteria are met:

In particular, where the terms of grant income are that it can only be utilised against expenditure in years following the balance sheet date, the grant is not recognised as income in the year but is instead treated as deferred income within creditors.

Donated goods

The charity operates a retail Gift Aid scheme whereby it administers the sale of furniture on behalf of members of the public, who then donate the proceeds to the charity, enabling it to claim a tax credit. While this is legally considered to be a cash donation, in economic substance it is similar to a trading activity, and therefore both the sale proceeds and the tax credit are included within “income from charitable activities”.

The SORP requires that donated goods should be measured at fair value. The charity has taken advantage of the exemption in the SORP which allows this treatment not to be adopted if it is impractical to measure the fair value of goods donated for resale or if the costs of valuation outweigh the benefit to users of the accounts and the charity of this information. Donated goods are therefore recognised when they are sold.

14

COMMUNITY FURNITURE STORE (RYEDALE) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 expenditure on charitable activities and are analysed separately in the notes to the financial statements. They include those costs associated with meeting the constitutional and statutory requirements of the charity, such as accountancy and other costs linked to the strategic management of the charity.

Fixed assets

Depreciation is provided at the following rates in order to write each asset down to its expected residual value over its useful life:

Fixtures and fittings 10% straight line Plant and machinery 20% reducing balance Motor vehicles 20% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making allowance for obsolete and slow moving items.

Hire purchase agreements

Where an asset is purchased under a hire purchase agreement, the asset is capitalised and depreciated over its estimated useful life. The cash price is treated as an obligation under a hire purchase agreement and recognised as a liability. The liability is reduced as payments are made, and interest is recognised as an expense and an increase in the liability.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Restricted funds are subjected to restrictions on their expenditure. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

15

COMMUNITY FURNITURE STORE (RYEDALE) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Cash flow statement

The SORP does not require the provision of a cash flow statement for charities which have a gross income falling below £500,000. The trustees believe that a cash flow statement is necessary for a full understanding of the financial statements and have therefore included a cash flow statement.

2 Donations and grants

Donations and grants 2023
£
26,000		 2022
£
59,548

All income from grants and donations consisted of restricted fund income (2022: £39,287). Unrestricted grant income in 2022 was £20,261

The restricted fund income was £20,000 from Trusthouse towards a workshop salary and £6,000 from Sirius Minerals towards lease payments on the unit.

Additionally, there was a restricted fund balance of £5,430 brought forward from 2020/21, given by Sirius Materials towards IT costs. This has not yet been spent.

3 Income from charitable activities

Shop income
Sale of scrap metal
Gift Aid tax credit		 151,401
134
6,322
157,857		 126,259
78
4,560
130,897

Shop income includes £26,072 (2022: £18,805) representing donations from members of the public on which Gift Aid has been claimed from sale of their goods through the retail Gift Aid scheme.

16

COMMUNITY FURNITURE STORE (RYEDALE) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4 Investment income

All of the charity’s investment income arises from money held in interest bearing deposit accounts.

5 Analysis of expenditure on charitable activities

5 Analysis of expenditure on charitable activities
Direct costs:
Cost of goods sold
Van and driver hire
Support costs:
Wages and salaries
Management charges
General office costs
Accountancy
Legal and professional
Hire purchase interest
Governance costs:
Management charges
Accountancy and independent examination		 2023
£
14,397
-
14,397
105,780
13,003
60,305
1,791
1,663
21
182,563
818
1,414
2,232
199,192		 2022
£
12,824
750
13,574
92,100
14,938
49,753
1,500
2,455
51
160,797		 2022
£
12,824
750
13,574
653
1,400
2,053
176,424

The management charge is apportioned between support and governance costs on the assumption that, of the amount of the chief officer’s and finance officer’s salary costs treated as governance costs in the financial statements of Community Furniture Store (York) Ltd, one third is included within the management charge levied on the charity. Accountancy costs are allocated to governance costs where they relate to information prepared for trustees’ meetings.

17

COMMUNITY FURNITURE STORE (RYEDALE) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6 Net (expenditure)/income for the year

2023 2022
£ £
Net (expenditure)/income for the year is stated after charging:
Depreciation – owned assets 2,946 3,256
Fees paid to independent examiner:
Independent examination 600 600
Other accountancy, VAT and consultancy services
2,605		 2,300

7 Trustees’ remuneration and expenses

No trustees were reimbursed any sums in respect of travel expenses during the year or the previous year in relation to their trustee duties.

8 Staff costs

Wages and salaries
Social security costs
Payments to defined contribution pension schemes		 98,417
6,540
823
105,780		 85,969
5,459
672
92,100

The average number of staff during the year was six (2022: five) and the average number of full-time equivalent staff during the year was five (2022: five).

No employees had employee benefits in excess of £60,000 (2022: nil).

18

COMMUNITY FURNITURE STORE (RYEDALE) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9 Tangible fixed assets

Computer
Fixtures &
Plant &
Motor
equipment
fittings
machinery
vehicles
£
£
£
£
Cost:
At 1 April 2022
-
1,720
358
22,860
Additions
772
3,587
-
-
At 31 March 2023
772
5,307
358
22,860
Depreciation:
At 1 April 2022
-
792
212
10,667
Charge for the year
127
352
29
2,438
At 31 March 2023
127
1,144
241
13,105
Net book value:
At 31 March 2023
645
4,163
117
9,755
At 31 March 2022
-
928
146
12,193		 Total
£
24,938
4,359
29,297
11,671
2,946
14,617
14,680
13,267

The carrying value of assets held under hire purchase agreements was £9,754 (2022: £12,192).

10 Stocks

All the amounts shown as stocks are in respect of goods for resale. See note 1 for the treatment of donated stock.

11 Debtors

Trade debtors
Other debtors:
VAT repayment
Gift Aid tax credit
Sundry debtors
Grants due
Prepayments and accrued income		 2023
£
936
530
6,322
-
-
2,056
9,844		 2022
£
464
1,312
4,560
300
-
3,117
9,753

19

COMMUNITY FURNITURE STORE (RYEDALE) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12 Creditors: amounts falling due within one year

Trade creditors
Hire purchase agreements
Amounts owed to associated undertakings
PAYE creditor
Accruals and deferred income		 2023
£
1,898
1,083
703
1,676
2,928
8,288		 2022
£
3,722
6,497
-
-
1,669
11,888		 2022
£
3,722
6,497
-
-
1,669

13 Creditors: amounts falling due after more than one year

14 Analysis of net assets between funds

General
Restricted
fund
funds
£
£
Tangible fixed assets
14,680
-
Current assets
18,765
22,998
Creditors: amounts falling
due within one year
(8,288)
-

Net assets at 31 March 2023
25,157
22,998		 Total
£
14,680
41,763
(8,288)
48,155

20

COMMUNITY FURNITURE STORE (RYEDALE) LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15 Movement in funds
Unrestricted income funds:
General fund
Restricted income funds:
Workshop
Premises lease
IT equipment
Total funds		 1 April
2022
£
38,060
20,000
-
5,430
25,430
63,490		 Income Expenditure
Transfers
31 March
2023
£
£
£
£
157,857
(170,760)
-
25,157
20,000
(22,432)
-
17,568
6,000
(6,000)
-
-
-
-
-
5,430
26,000
(28,432)
-
22,998
183,857
(199,192)
-
48,155

The sources and purposes of the restricted funds are explained at note 2.

15 Related parties

The trustees of the charity are also the trustees of Community Furniture Store (York) Ltd. During the year, the charity received invoices totalling £21,862 plus VAT (2022: £19,754) from Community Furniture Store (York) Ltd. A total of £133 (2022: £1,413) related to the recharge of stock; £18,854 plus VAT (2022: £14,622) related to management charges; and the remainder consisted of the recharge of office equipment and professional fees.

The trustees of the charity are also the trustees of Community Furniture Store (Selby) Ltd. During the year, the Ryedale store paid invoices for £703 which related to the Selby store. Debtors include this amount of £703 which was still owed by the Selby store at the year end.

16 Operating lease commitments

The charity had the following future minimum lease payments under non-cancellable operating leases for the following periods:

Within one year 2023
£
10,000		 2022
£
10,000

21

COMMUNITY FURNITURE STORE (RYEDALE) LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
£
£
INCOME
Donations
Grants and donations
-
26,000
Income from charitable activities
Shop income
151,401
-
Sale of scrap metal
134
-
Gift Aid tax credit
6,322
-
157,857
-
Investment income
-
-
Total income
157,857
26,000
EXPENDITURE (see page 23)
170,760
28,432
NET (EXPENDITURE)/INCOME
(12,903)
(2,432)		 Total
funds
2023
£
26,000
151,401
134
6,322
157,857
-
183,857
199,192
(15,335)		 Total
funds
2022
£
59,548
126,259
78
4,560
130,897		 Total
funds
2022
£
59,548

5
190,450

176,424
14,026

This page does not form part of the statutory financial statements.

22

COMMUNITY FURNITURE STORE (RYEDALE) LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

This page does not form part of the statutory financial statements.
Unrestricted
Restricted
funds
funds
2023
2023
£
£
EXPENDITURE: Expenditure on charitable activities
Cost of sales:
Cost of goods sold
14,397
-
Van and driver hire
-
-
14,397
-
Support costs:
Wages and salaries
83,348
22,432
Management charges
13,003
-
Rent and rates
22,564
6,000
Service charges
1,066
-
Insurance
1,502
-
Light and heat
5,813
-
Telephone
1,203
-
Postage and stationery
1,066
-
Advertising
3,320
-
Membership fees
250
-
Software support
947
-
Uniforms and personal protective equipment
64
-
Recruitment and training
211
-
Staff entertaining and gifts
177
-
Motor and travel expenses
5,280
-
Repairs
367
-
Cleaning
282
-
Workshop project
3,574
-
Stock control and till maintenance
1,375
-
Legal and professional
1,663
-
Accountancy
1,791
-
Storage
300
-
Sundry expenditure
110
-
Depreciation of tangible fixed assets
2,946
-
Hire purchase interest
21
-
Bank charges and interest
1,888
-
154,131
28,432
Governance costs
Management charges
818
-
Accountancy
1,414
-
2,232
-
Total expenditure
170,760
28,432		 Total
funds
2023
£
14,397
-
14,397
105,780
13,003
28,564
1,066
1,502
5,813
1,203
1,066
3,320
250
947
64
211
177
5,280
367
282
3,574
1,375
1,663
1,791
300
110
2,946
21
1,888
182,563
818
1,414
2,232
199,192		 Total
funds
2022
£
12,824
750
13,574
92,100
14,938
18,150
130
1,756
2,460
1,627
2,338
6,202
285
931
500
404
360
4,234
-
-
527
3,500
2,455
1,500
2,128
-
3,256
50
966
160,797		 Total
funds
2022
£
12,824
750
13,574
653
1,400
2,053
176,424

23