2024-03-31-accounts

Community Furniture Store (Ryedale) Limited FINANCIAL REPORTS For the year ending 31 March 2024

Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Contents

Contents
	Page
Reference and Administrative Information	3
Directors’ Report	4
Trustees’ Annual Report	5
Independent Examiner’s Report	9
Statement of Financial Activities	10
Balance Sheet	11
Statement of Cash Flows	12
Notes to the Financial Statements	13

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Reference and Administrative Information

For the year ending 31 March 2024

Charity Details

Registered Charity Name: Community Furniture Store (Ryedale) Limited

Charity Number: 1156411 (England and Wales) Principal Office Address: Unit 29, The Raylor Centre James Street York YO10 3DW Trustees: David James Nash (Chair from May 2023) Vera Van Gool (appointed November 2023) Timothy John Leonard (appointed May 2023) Nicholas Thomas Dennison Prakash Mistry Dr Matthew Farrelly David Graham Mitchell (Chair until May 2023) Tom Cooper Jenkins Sally Dillon (resigned November 2023) Kelly Cunningham (resigned May 2023) Chief Officer: Rebecca Blues (resigned July 2023) Katy Ridsdill-Smith (appointed September 2023) Independent Examinator: Nicola Ainscough FCA BSc Equilibrium Accountants Ltd 48 Goodramgate York YO1 7LF

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Company Details

Company Name: Community Furniture Store (Ryedale) Limited Governance Structure: Limited by guarantee Company Registration No: 08384583 (England and Wales) Registered Office Address: Unit 29 The Raylor Centre James Street York YO10 3DW Directors: David James Nash (Chair from May 2023) Vera Van Gool (appointed November 2023) Timothy John Leonard (appointed May 2023) Nicholas Thomas Dennison Prakash Mistry Dr Matthew Farrelly David Graham Mitchell (Chair until May 2023) Tom Cooper Jenkins Sally Dillon (resigned November 2023) Kelly Cunningham (resigned May 2023)

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Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Directors’ Report For the year ending 31 March 2024

The directors (who are also the trustees of Community Furniture Store (Ryedale) Ltd for the purposes of charity law) present their report with the financial statements of the company for the year ending 31 March 2024.

Principal Activities

The principal activity of the company in the year under review was retail of furniture, lighting, and similar (not musical instruments or scores) in a specialised store.

Directors

The directors shown below have held office during the period 1 April 2023 to 31 March 2024:

• David James Nash (Chair from May 2023)

• Vera Van Gool (appointed November 2023)

• Timothy John Leonard (appointed May 2023)

• Nicholas Thomas Dennison

• Prakash Mistry

• Dr Matthew Farrelly

• David Graham Mitchell (Chair until May 2023)

• Thomas Cooper Jenkins

• Kelly Cunningham (resigned May 2023)

• Sally Dillon (resigned November 2023)

Political and charitable donations

No contributions were made to political or charitable organisations during the year.

Statement of directors’ responsibilities

The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. Company law requires the directors to prepare accounts for each financial year. Under that law, the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year. In preparing these accounts, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and estimates that are reasonable and prudent; and,

• prepare the accounts on the going concern basis unless it is inappropriate to pressure that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Qualifying third party indemnity provisions

No qualifying third-party indemnity provisions have been made during the year.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006; the provisions of Financial Reporting Standard 102 Section 1A for Small Entities and with the methods and principals of the Statement of Recommended Practice: Small Charities 2005.

Signed ON BEHALF OF THE BOARD by: ………………………………………. ……………………………………… fp Cok David Nash (Chair) Prakash Mistry (Treasurer) Date: ………………………………… 26 |i

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Trustees’ Annual Report

For the year ending 31 March 2024

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 2024. 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).

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.

Appointment of Trustees/Directors

Trustees are appointed to serve for three-year periods. From 2019, trustee terms of office have been limited to a total of nine years to reflect Charity Commission good practice guidance. Trustees are recruited following a skills audit of Board members to ensure that the Board has the right skills and experience. All trustees are inducted into the organisation by the Chair and CEO and relevant training is provided.

During the year the following charges occurred in the Trustee Board:

• David Nash was appointed Chair in May 2023

• David Graham Mitchell was appointed Vice Chair in May 2023 (extended for a further term beyond 9 year limit to provide stability during a period of transition)

• Timothy Leonard joined the Board in May 2023

• Vera Van Gool joined the Board in November 2023

• Kelly Cunningham resigned in May 2023 due to work pressures

• Sally Dillon resigned in November 2023 due to work pressures

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.

Structure and History

The charity is part of a group of three separate charities, all with the same objectives and purpose. Community Furniture Store (York) Ltd operates in the York area. The other charities are Community Furniture Store (Selby) Ltd and Community Furniture Store (Ryedale) Ltd and they operate in Selby and Scarborough districts respectively. The organisations share a board, central management and administration team.

Originally, the charities were set up as independent charities to meet expectations of funders who tended to prioritise funding in their own localities. However, the funding landscape has changed, and we are aware of the benefits that merging would bring to group of charities in terms of streamlining administration, clarity of strategy and a shared identity. In the Annual General Meeting held on 28 November 2023, the Board approved a motion to merge the three charities. This project is a work in progress.

Charitable objects

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Our charitable objects are:

• 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.

• To promote any other charitable activity that is consistent with these objects, which shall be selected by the trustees at their absolute discretion.

Objectives, Vision and Purpose

Community Furniture Store is a grassroots charity that works with local communities in Scarborough to fight furniture and digital poverty. We do this by:

• Providing opportunities to learn new skills and be part of a community through our workshops and Volunteering Programme

• Reusing and repairing donated items to provide quality and affordable furniture to people and families in need

• Working in partnership to provide IT equipment to people who would otherwise be digitally excluded

So that everyone in our local communities has equal access to the support needed to improve homes, lives and lifestyles.

Review of activities

We are an anti-poverty charity which supports people in need through the provision of good quality and affordable furniture. We do this by collecting pre-loved items of furniture and selling them on our shop floor at a low cost, with an additional 30% discount for anyone who is on means tested benefits.

Providing affordable furniture to people in need

Over the year 2023-2024, we provided a total of 2,746 household items at a 30% discount to people qualifying through receipt of means tested benefits which equates to a total discount of £35,776. We have seen an 35% increase in uptake of the concessionary rate since last year which we attribute to external factors such as the cost-of-living crisis, inflationary pressures and an internal effort to increase our reach in the local community through social media, leaflets and partnership working. We are committed to meeting the growing needs of our community to ensure everyone has access to the items needed to make a house a home.

Carpentry and Upcycling Workshop

The Carpentry and Upcycling Workshop at CFS offers opportunities to people in the local community to learn new skills, grow in confidence and develop meaningful relationships. Guided by a Workshop Supervisor, volunteers repair and upcycle donations which are then sold on the shop floor. The workshop is an inclusive space where volunteers learn new techniques, take ownership of projects and feed into design.

Over the reporting year, the project upcycled, repaired and sold 169 items which would have otherwise ended up in landfill.

Volunteering

We gratefully welcome the support of our volunteers on both the shop floor and in the Carpentry and Upcycling Workshop. This year, we were supported by a total of 15 volunteers on the shop floor who gave their time, expertise and energy to supporting the fight against furniture poverty. The total number of volunteering hours equates to 2,375 hours. 6 volunteers successfully moved into employment.

The Carpentry and Upcycling Workshop continues to provide volunteering opportunities to people in the local community. Over the reporting period, the project was supported by 29 volunteers which equated to a total of 1910 volunteering hours. Over the year, our volunteering partnerships have grown as we develop our volunteering offer. We have been pleased to work in partnership with the Job Centre and Supporting Choice to offer volunteers the opportunity to gain experience, learn new skills and grow in confidence.

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Collaborative working

We are committed to working in partnership with local organisations, charities and statutory organisations to increase our shared impact. We have developed partnerships with Little House Charitable Trust who provide funding to organisations such as North Yorkshire Council’s Homeless Prevention Team to issue vouchers to their most vulnerable clients. These vouchers are then used in store to furnish people’s properties. A similar arrangement has been established with The Rainbow Centre who refer their clients to our services.

Our Carpentry and Upcycling Workshop has regularly supported the Repair Cafes run by CaVCA to offer furniture repair advice and guidance to the local community. We were also commissioned by Scarborough Art Gallery to create bespoke and upcycled storage solutions for their art workshop.

Environmental impact

While our charitable purpose is to fight furniture and digital poverty, we recognise that there is a significant environmental benefit to the work we do. Over the year, we have saved 6,427 items from incineration or landfill which equates to 124 tonnes. This has prevented 133 tonnes of CO2 from being released into the atmosphere.

Key personnel changes

In July 2023, Rebecca Blues left the charity to pursue other opportunities. The Board are grateful for her dedication to the charity and wish her the best of luck in her new role. Rebecca was replaced by Katy Ridsdill-Smith as CEO in September 2023. Katy appointed a new Finance Manager in January 2024 to bring our financial operations in-house. We remain supported by Equilibrium Accountants.

Plans for the future

We have been working towards launching our new ‘Looking-In Strategy’ at the start of the 2024 financial year which determines our 5 priorities:

1. One charity: successfully merging the three charities alongside an organisational rebrand to streamline our operations and increase our impact across North Yorkshire

2. A financially resilient charity: diversifying our streams of income and increasing our reserves through innovation, grant funding and online sales

3. A healthy, inclusive and knowledgeable charity: ensuring we are equipping our people with the skills, knowledge and confidence to help us achieve our charitable mission

4. A community charity: developing a Volunteering Programme that engages the local community through partnership and launching our anti-poverty strategy

5. A safe, compliant and streamlined charity: implementing a new EPoS system to increase our productivity enabling us to support more people

Financial Review

The financial year has ended with a net surplus (total income less total expenditure) of £733, made up of a net surplus on unrestricted funds of £23,731, and a net deficit on restricted funds of £22,998.

Total charitable income in 2023/24 was £227,611, compared to £183,857 in 2022/23, an increase of £43,754

Total expenditure on charitable activities in 2023/24 was £266,878, compared to £199,192 in 2022/23, an increase of £67,686.

The balance on unrestricted funds will increase the charity reserves. There is no residual balance on the restricted fund as the deficit was offset by the restricted funds brought forward from the 2023/23 financial year.

Reserves policy

Trustees have agreed a policy to hold unrestricted funds not invested in fixed assets of between three and six months of budgeted overhead expenditure excluding exceptional items, so that activities can continue in the event of a significant drop in income or a significant increase in expenditure.

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

As at 31 March 2024 the target unrestricted reserves is £47,595 (3 months). The financial statements show that unrestricted reserves are currently £48,888 which is £1,293 above this. Budgets were set with a target surplus to increase the level of unrestricted reserves, and this will continue in the new financial year.

The reserves balance does not include the value of goods donated for resale in store at year end. This is because the charity has taken advantage of the exemption in the SORP allowing us not to value donated goods at fair value, as it’s impractical to measure the fair value of goods donated for resale so donated goods are therefore recognised when they are sold.

The charity also gratefully receives restricted grant funding for a specified purpose. These funds are kept separate to unrestricted reserves and used in accordance with the terms and conditions of the grant funding.

Risk Management

The CEO maintains a risk register which is reviewed quarterly at Board meetings. The Board monitors impact, probability, mitigations taken and identifies any additional action required.

Trustees’ responsibility statement

The trustees (who are also the directors of Community Furniture Store (Ryedale) Ltd for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the income and expenditure of the company for that year.

In preparing these financial statements, the trustees are required to:

• Select suitable accounting policies and then apply them consistently;

• Observe the methods and principles in the Charities SORP;

• Make judgements an accounting estimates that are reasonable and prudent; and,

• Prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the company will continue in operation.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Going Concern

The charity has generated a small surplus for the year and marginally improved upon its cash reserves. As such, at the date of signing these financial statements, the trustees expect the charity to continue to trade for the foreseeable future. On this basis, the trustees have prepared these financial statements on a going concern basis. ……………………………………. …………………………………….. fe SA David Nash (Chair) Prakash Mistry (Treasurer) Date: ………………………………. ZS @ ( OLE

Independent Examiner’s Report

For the year ending 31 March 2024

I report on the accounts of Community Furniture Store (Ryedale) Limited for the year ending 31 March 2024, which are set out on pages 10-19.

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

• Examine the accounts under section 145 of the 2011 Act

• To follow the procedures laid down in the General Directions given by the Charities Commission under section 145(5)(b) of the 2011 Act, and

• To state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items of disclosures in the accounts and seeking explanations from you as trustees consequently no opinion is given as to whether the accounts present a “true and fair view”, and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

• (1) Which gives me reasonable cause to believe that in any material respect the requirements

• To keep accounting records in accordance with section 130 of the 2011 Act, and

• To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

Have not been met, or

• (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

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Nicola Ainscough FCA BSc Chartered Accountant Equilibrium Accountants Ltd 48 Goodramgate, York, YO1 7LF

8 November 2024

Statement of Financial Activities (Including the Income & Expenditure Account)

For the year ending 31 March 2024

Notes Restricted Funds £ Unrestricted Funds £	Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

INCOME

INCOME
Incoming and endowments from: Donations and grants 4 Charitable activities 5 Investments 6 Total incoming resources EXPENDITURE Expenditure on: Charitable activities 7 Total resources expended Transfer between funds Net income / (expenditure) for the year 8 RECONCILIATION OF FUNDS Total funds brought forward as at 1 July 2023 Total funds carried forward as at 30 June 2024	13,500 - - 214,111 - -
		13,500	26,000
		214,111	157,857
		-	-
	13,500 214,111 36,498 190,380	227,611	183,857
		226,878	199,192
	36,498 190,380	226,878	199,192
	- - (22,998) 23,731 22,998 25,157
		-	-
		733	(15,335)
		48,155	63,490
	- 48,888	48,888	48,155

The notes on pages 13-19 form a part of these financial statements.

A Statement of Total Recognised Gains and Losses is not required as all gains and losses are included in the Statement of Financial Activities.

There is no difference between the net income / (expenditure) for the year above and the historical cost equivalent. All activities are continuing.

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Balance Sheet

As at 31 March 2024

Balance Sheet As at 31 March 2024
			As at 31 Mar		As at 31 Mar
			24		23
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	11		11,962		14,680
CURRENT ASSETS
Stocks	12	3,325		3,089
Debtors	13	22,436		9,844
Cash at bank and in hand		31,446		28,830
		57,207		41,763
Creditors: Amounts falling due within one year	14		(20,281)		(8,288)
Net Current Assets / (Liabilities)			36,926		33,475
Total Assets less Current Liabilities			48,888		48,155
Creditors: Amounts falling due after more than one year	15		-		-
Net Assets			48,888		48,155
FUNDS
Unrestricted income funds	17/18		48,888		25,157
Restricted income funds	17/18		-		22,998
Total Funds			48,888		48,155

The notes on pages 13-19 form a part of these financial statements.

Directors’ benefits: advances, credit and guarantees

During the year no benefits, in the form of advances, credit and guarantees, were conferred upon directors of the company.

Guarantees and other financial commitments

During the year no guarantees or other financial commitments were made.

For the year ending 31 March 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and did not exceed the audit threshold under the Charities Act 2011 for the year in question. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of both the Companies Act 2006 and the Charities Act 2011, with respect to accounting records and the preparation of accounts.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A – Small Entities.

The financial statements on pages 10-19 were approved by the members of the committee and authorised for issue on ______ and are signed on their behalf by: 22 ( row

___ ——n ______ David Nash (Chair) Prakash Mistry (Treasurer)

Company Registration Number: 08384583

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Statement of Cash Flows

As at 31 March 2024

Statement of Cash Flows s at 31 March 2024
Note s CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOW FROM INVESTING ACTIVITIES Payments to acquire tangible fixed assets Hire purchase payments Net cash flow from investing activities Net increase / (decrease) in cash and cash equivalents Cash and cash equivalents at 1 April 2023 Cash and cash equivalents at 31 March 2024 Cash and cash equivalents consists of: Cash at bank and in hand Cash and cash equivalents at 31 March 2024	As at 31 Mar 24 £ 3,699 - (1,083)	As at 31 Mar 23 £
		(12,075)
		(4,358)
		(6,497)
	(1,083) 2,616 28,830	(10,855)
		(22,930)
		51,760
	31,446	28,830
	31,446
		28,830
	31,446	28,830

Reconciliation of net income / (expenditure) to net cash flow from operating activities

Note s Net income / (expenditure) for the year Interest receivable Depreciation and impairment of tangible fixed assets Interest on hire purchase agreements (Increase) / decrease in stock (Increase) / decrease in debtors (Decrease) / increase in creditors Net cash flow from operating activities	As at 31 Mar 24 £ As at 31 Mar 23 £ 733 (15,335) 441 - 2,718 2,945 642 21 (236) (1,430) (12,592) (91) 11,993 1,815
	3,699 (12,075)

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Notes to the Financial Statements

For the year ending 31 March 2024

1. STATUTORY INFORMATION

Community Furniture Store (Ryedale) Limited is a private company, limited by guarantee, registered in England and Wales, registration number 08384583. The registered office and principal place of business is Unit 29 The Raylor Centre, James Street, York, YO10 3DW.

2. COMPLIANCE WITH ACCOUNTING STANDARDS

The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, the Accounting and Reporting by Charities for Smaller Entities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (Effective January 2015) - (Charities ‘SORP’ (FRS 102)); the provisions of FRS 102 Section 1A – Small Entities and all other applicable accounting standards in the United Kingdom.

3. ACCOUNTING POLICIES

Basis of accounting

The financial statements are prepared on a going concern basis, under the historical cost convention.

The charity has adjusted the formats of those prescribed by the Companies Act 2006 to include headings that are relevant to its activities, to enable it to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The principal accounting policies, which have been applied consistently in the year, are set out below.

Revenue Recognition

Revenue is recognised in respect of gifts, grants, donations, and funds received for goods and services supplied during the year, exclusive of trade discounts, upon receipt.

Cash Flow Statement

For the year ending 31 March 2024, the company was entitled to exemption from the requirement, under Financial Reporting Standard 1: Cash Flow Statements (Revised 1996), on the grounds that the company is classified as small (as per the thresholds set from 6 April 2008). 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.

Fixed Assets

All fixed assets are capitalised and included at cost, including any incidental expenses of acquisition.

Depreciation is provided on tangible fixed assets at rates calculated so as write off the cost of an asset, less it’s estimated residual value, over the useful economic life of that asset as follows:

estimated residual value,over the useful economic life	of that asset as follows:
Computer Equipment Fixtures & Fittings	- 33% reducing balance - 10% straight line
Plant & Equipment	- 20%reducingbalance
Vehicles	- 20% reducingbalance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slowmoving items.

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’.

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

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 of 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.

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.

Allocation and apportionment of costs

All costs are allocated between the expenditure categories noted above on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. on a time expended basis or estimated usage.

Support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll, and governance costs which support Community Furniture Store (Ryedale) Limited activities.

Governance costs include the cost of preparing the annual accounts, legal and professional fees and the charges levied in managing the bank accounts.

Funds structure

Unrestricted funds are funds that are available for use or retention at the discretion of the Trustees, in accordance with the Charity’s objects. Restricted funds are used as and when the actual expenditure on specific projects is incurred.

4. DONATIONS AND GRANTS

4. DONATIONS AND GRANTS
	Restricted Funds £	Unrestricted Funds £	Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Donations andgrants*
Trusthouse	-	-	-	20,000
Sirius Minerals	-	-	-	6,000
Jack Brunton Charitable Trust	2,500	-	2,500	-
Awards for All	10,000	-	10,000	-
Other donations	1,000	-	1,000	-
	13,500	-	13,500	26,000

• All income from grants and donations consisted of restricted fund income (2023: £26,000).

5. CHARTIABLE ACTIVITIES

5. CHARTIABLE ACTIVITIES
		Restricted Funds** £ Unrestricted Funds £	Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Income
ShopIncome	- 198,686		198,686	151,401
Sale of scrapmetal	- 78		78	134
Gift Aid tax credit*	- 14,984		14,984	6,322

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Sundryincome		-	363		363	-
		-	214,111		214,111	157,857

• Shop income includes £59,611 (2023: £26,072) 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.

6. INVESTMENTS

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

7. EXPENDITURE ON CHARITABLE ACTIVITIES

		Restricted Funds £	Unrestricted Funds £	Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Direct costs:	-		14,592 14,592
Cost ofgoods sold					14,397
	-		14,592 14,592		14,397
Support costs:	30,068 - 6,430		90,810 120,878 28,582 28,582 32,871 39,301
Wages and salaries					105,780
Management charges					13,003
General office costs					60,305
Accountancy	-		1,431 1,431		1,791
Legal andprofessional	-		7,204 7,204		1,663
Admin Costs	-		2,872 2,872		-
Vehicle Costs	-		7,608 7,608		-
Depreciation	-		2,718 2,718		-
Hirepurchase interest	-		642 642		21
	36,498		174,738 211,236		182,563
Governance costs:	- -		- - 1,050 1,050
Management charges					818
Independent examination					1,414
	-		1,050 1,050		2,232
	36,498		190,380 226,878		199,192

1. NET INCOMING RESOURCES FOR THE YEAR

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

This is stated after charging:

This is stated after charging:
		Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Depreciation		2,718 1,050 1,996	2,946 600 2,605
Feespaid to independent examiner:
Independent examination
Other accountancy,VAT and consultancyservices

9. TRUSTEES’ REMUNERATION AND EXPENSES

No trustee was reimbursed any sum in respect of travel expenses during the year (2023: £nil) in relations to their trustee duties.

10. STAFF COSTS

Total staff costs were as follows:

Total staff costs were as follows:
		Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Wages and salaries		110,871	98,417
Social securitycosts		6,634	6,540
Payments to defined contributionpension schemes		1,156	823
		118,661	105,780

The average number of staff during the year was 7 (2023: 11) and the average number of full-time equivalent staff during the year was 6 (2023: 10.1).

No employees had employee benefits in excess of £60,000 during the year (2023: nil).

11. TANGIBLE FIXED ASSETS

	Land & Buildings £	Plant & Equipment £	Fixtures & Fittings £	Motor Vehicles £	Computer Equipment £	Total £
Cost
As at 1 April 2023	-	358	5,307	22,860	772	29,297
Additions	-	-	-	-	-	-
Disposals	-	-	-	-	-	-
As at 31 March 2024	-	358	5,307	22,860	772	29,297
Accumulated Depreciation
As at 1 April 2023	-	241	1,144	13,105	127	14,617
Charge for theyear	-	23	530	1,952	213	2,718
Disposals	-	-	-	-	-	-
As at 31 March 2024	-	264	1,674	15,057	340	17,335

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

Net Book Value
As at 31 March 2024	-	94	3,633	7,803	432	11,962
As at 31 March 2023	-	117	4,163	9,755	645	14,680

12. STOCK

All the amounts shown as stocks are in respect of goods for resale.

13. DEBTORS

DEBTORS
		Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Trade debtors		3,482	936
Other debtors:
VAT repayment		1,375	530
Gift Aid tax credit		14,984	6,322
Prepayments and accrued income		2,595	2,056
		22,436	9,844

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

		Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Trade Creditors		16,146	1,898
Hirepurchase agreements		-	1,083
Amounts owed to associated undertakings(note 16)		1,147	703
PAYE Creditor		1,145	1,676
Accruals and Deferred Income		1,843	2,928
		20,281	8,288

The company secures the following liabilities disclosed under creditors falling due within one year:

		Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Bank loans and overdrafts		-	-
		-	-

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

		Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Hirepurchase agreements		-	-
		-	-

16. RELATED PARTIES

The trustees of the charity are also the trustees of Community Furniture Store (York) Ltd. During the year, the charity issued invoices totalling £35,728 plus VAT (2023: £21,862) to Community Furniture Store (Ryedale) Ltd. A total of £14,758 plus VAT (2023: £133) related to the recharge of stock, £12,177 plus VAT (2023: £18,854) related to management recharges, and the remainder consisted of the recharge of office equipment and professional fees.

In addition to this, during the year the York store paid invoices of £95 plus VAT (2023: £nil) which related to the Ryedale store. Creditors include this amount of £95 (2023: £nil) which was still owed to the York store at the yearend (2023: £nil)

The trustees of the charity are also the trustees of Community Furniture Store (Selby) Ltd. During the year, the Selby store paid invoices of £349 plus VAT (2023: £703) which related to the Ryedale store. Creditors include this amount of £1,052 (2023: £703) which was still owed to the Selby store at the year-end (2023: £703).

17. MOVEMENT IN FUNDS

17. MOVEMENT IN FUNDS
	Balance at 31 Mar 23 £	Incoming resources £	Outgoing resources £	Transfer of funds £	Balance at 31 Mar 24 £
Unrestricted Income Funds:
General Funds	25,157	214,111	(190,380)	-	48,888
Designated Funds	-	-	-	-	-
	25,157	214,111	(190,380)	-	48,888
Restricted Income Funds:
Workshop	17,568	13,500	(31,068)	-	-
Premises lease	-	-	-	-	-
IT equipment	5,430	-	(5,430)	-	-
	22,998	13,500	(36,498)	-	-
Total Funds	48,155	227,611	(226,878)	-	48,888

The designated fund represents funds set aside by the trustees for the future replacement of fixed assets.

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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Community Furniture Store (Ryedale) Limited | Financial Reports - For the year ending 31 March 2024

The restricted funds are explained at note 4.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

	General Funds £	Designated Funds £	Restricted Funds £	Total Funds £
Intangible fixed assets	-	-	-	-
Tangible fixed assets	11,962	-	-	11,962
Current assets	57,207	-	-	57,207
Creditors: amounts falling due within one year	(20,281)	-	-	(20,281)
	48,888	-	-	48,888
Creditors: amounts falling due after one year	-	-	-	-
Net assets at 31 March 2024	48,888	-	-	48,888

19. OPERATING LEASE COMMITMENTS

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

		Year to 31 Mar 24 Total £	Year to 31 Mar 23 Total £
Within oneyear		10,000	10,000
Between one and fiveyears		-	-
		10,000	10,000

20. COMPANY LIMITED BY GUARANTEE

The company is limited by members’ guarantees and therefore has no share capital. The guarantee given by members is limited to £1.

Community Furniture Store (Ryedale) Limited | Company Limited by Guarantee

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