**Charity number: 1158797** ## **The Forest Upcycling Project** **Trustees' report and financial statements** **for the year ended 31 May 2022** ## **The Forest Upcycling Project** ## **Contents** ||**Page**| |---|---| |Legal and administrative information|**1**| |Trustees report|**2 - 11**| |Independent examiners' report|**12**| |Statement of financial activities|**13**| |Income and expenditure account|**14**| |Intentionally Blank|**15**| |Balance sheet|**16**| |Notes to the financial statements|**17 - 21**| ## **The Forest Upcycling Project** ## **Legal and administrative information** |**Charity number**|1158797| |---|---| |**Trustees**|Ashley Martin| ||Rona Martin| ||Tracey Fennell| ||Simon Bunyan| ||Wendy Siriwardena| ||Roger Burrows| ||Victoria Walters| |**Accountants**|Oversby & Company| ||Unit 1C| ||Crucible Close| ||Coleford| ||Gloucestershire| ||GL16 8RE| |**Bankers**|Santander| ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** The trustees present their report and the financial statements for the year ended 31 May 2022. The trustees who served during the year and up to the date of this report are set out on page 1. ## **Structure, governance and management** ## _Policies and procedure of Trustees_ This is the Eighth Trustee's Annual Report since the Charity was established in June 2014. The Forest Upcycling Project is a charitable organisation. The Charity was started on 1st June 2014 and registered with the Charity Commission on 6th October 2014. The charity was established under a constitution which was written in June 2014. Our Registered Charity number is 1158797. There have been some changes to the board of Trustees with the appointment of Wendy Siriwardena Ashley Martin maintains position of Chair As existing Trustees, we elect new trustees in accordance with the terms of our Constitution. On appointment, all new Trustees receive an induction pack, which consists of a copy of the Constitution, together with the Charity Commissions booklet 'Essential Trustee'. Trustees are elected to serve for a maximum of three years after which time they must seek re-election at the next Annual Meeting. Trustees are free to resign from their post at any time. In the event of the Project being wound up the liability of Members (Trustees) is limited to a sum not exceeding £1. The affairs of the charity are controlled by the Trustees and meetings occur at least 4 times a year at an agreed location. The decisions of the board are carried out by Matthew Jones (Project Manager). ## _The charity's organisational structure_ The day-to-day management of the project is carried out by the Charity founder and former trustee Matthew Jones. This includes purchasing necessary equipment, assigning roles to staff and accessing funds available. He is also responsible for recruitment, training and induction of new employees and volunteers. Decisions made regarding purchasing large items such as vehicles, rental agreements and management of employee contracts are made together with trustees at Trustee meetings. ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## _The Charity's wider network_ The charity works closely with Gloucestershire County Council and Monmouthshire Council on many aspects. This includes working with the waste team (Roger Smith, Tony Privitera and Carl Tourig) to raise funds in recycling credits and the Disabilities Commissioning Team at Gloucestershire Council (most significantly Vikki Walters and David Honeybill). Monmouthshire Housing and GDAS have also made strong relationships with the Chepstow branch for volunteer placement and assisting people in our local communities. Links have been made with Two Rivers Housing Association, Gloucestershire City Housing, Wydean Housing, Salvation Army, Green Square, Monmouthshire Housing, MENCAP, Gwent Drug and Alcohol Support and various churches to ensure all members of society have the essentials of a home in terms of furniture and white goods. Work experience placements at the project have been provided in conjunction with Cinderford, Coleford & Chepstow Job Centre Plus, Volunteers, Seetec, Mencap, Heart of the Forest School, Forest High School, National Star College, Jobs Growth Wales, and Monmouthshire Housing. In 2021/2022 there have also been 8 Duke of Edinburgh volunteers each with 6-month placements and 3 work experience placements in conjunction with Wydean School. Many of the volunteers enjoyed their time with us so much that they are eager to stay on even after their placements have ended. ## _Risk Management_ The key controls used by the project and controlled by the Trustees are; - " Formal agendas for all Board activity - " Budgeting, planning and management of Accounts. - " Established structures for the induction of staff and volunteers and clear lines of reporting - " Detailed written policies that are reviewed yearly - " Adequate training for staff and volunteers with regards to safe handling, fire and first aid. It is recognised that systems can only provide reasonable but not absolute assurance that all major risks have been eliminated. Matthew Jones, project manager and his management team are responsible for assessing risks in each location on a day-to-day basis. Advice on fire safety is sought from our fire officer on a yearly basis and this includes the annual checking of fire extinguishers. New staff and volunteers are trained in safe lifting and appropriate clothing by the management team. Staff are provided with essential safety wear such as steel toe cap boots and goggles. Volunteers are provided with supervision, the level of which depends on their abilities. ## _The original aims of the charity as set out in its constitution_ 1. To relieve poverty for families and individuals in need by providing furniture or other goods at a highly reduced rate or in extreme cases free of charge. 2. To advance education for people who are unemployed or otherwise in need of such education to equip them with the skills necessary to be able to find employment. 3. To protect and preserve the environment for the public benefit and future generations by the promotion of waste reduction, re-use, reclamation, recycling and use of recycled products. ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## _Public Benefit_ The trustees have regard to the Charity Commission guidance on Public Benefit and to the requirement to report on its observance and delivery. The public benefit generated by The Forest Upcycling Project can be summarised in one of nine areas: 1. a) Those in need can purchase household goods considerably cheaper than from other retail outlets in Gloucestershire and Monmouthshire, with much greater choice than other second-hand outlets. b) A free collection service for those wishing to donate items of furniture c) A house move service provided at reduced rates to allow those moving in difficult circumstances to afford it. 2. We provide education and work experience for those in long term unemployment and in addition give assistance to volunteers in CV writing and job applications. 3. Our gardening services are at extremely low cost and we strive to identify those in society that need our help and offer them free gardening assistance. 4. We help to conserve the environment by diverting unwanted goods away from landfill. We re-use and recycle what we can. 5. We support those on the margins of society by providing work experience and paid employment. This includes people with disabilities, learning difficulties, substance abuse, depression, mental health issues and long-term unemployment. 6. Working with Ed Haythornthwaite (a professional bike mechanic) the Charity is employing and training 2 recovering addicts to gain Cytech accreditation. Recycling and Upcycling old bikes over 100 so far this year. 7. We work to reduce pollution and improve the environment by supply a service where customers can refill household cleaning products and re-use plastic containers. 8. We provide a community space open to all with the introduction of the coffee shop. ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## _Main activities of the Forest Upcycling Project_ The project runs by collecting people's unwanted furniture, household goods and bicycles and then cleaning, repairing or upcycling it for re-sale in our showrooms in Cinderford and Chepstow. There are also 2 gardening teams who carry out work privately for residents and have completed some larger contract work for local companies. Much of their business comes from repeat customers during the summer months. This year we have also opened an onsite coffee shop at the Chepstow furniture unit. We continue to help those in society that suffer from economic hardship by providing furniture for sale in the Forest of Dean and Monmouthshire at very low prices or in many cases free of charge. The Kids Upcycle, has helped multiple low income, sometimes single parents set up for a new born which can often be a costly time. We also provide a house clearance and house moving service at an affordable rate, we have seen an increase in demand for this type of service during the 2021/2022 period. Staffing At the end of our 7th Year, the staff at Upcycle is made up of 27 people in the UK and 1 employee (Stella) in Uganda. New appointments this year have included: Vicky - Assistant Manager Kelly - Moved from volunteer to part time employee Francesca - Coffee shop manager Charlie - Barista Caris - Part Time Barista Corinne - Part time Barista Tora - Part time Kids Upcycle (Chepstow) Sam - Part time Kids Upcycle (Cinderford) Within this group there are staff with learning disabilities, hearing disabilities, long term unemployment, depression, single parents, autism, PTSD and those recovering from addiction. As well as these positive additions to the team there has also been some great loss within the team this year. We sadly lost Sue, our amazing coffee shop assistant to a sudden and cruel illness. This shook the team immeasurably but we are proud of how everyone came to together to support each other and O'Neal, as well as remaining professional day to day in the shop, even in this time of great sadness. ## Kids Upcycle Chepstow Extending the mezzanine floor of the Kid's Upcycle unit in Chepstow has been a major achievement this year, with thanks going to Ashley Martin, his role in the building of this and making it safe. Doubling the floor plan has allowed for an increase in recycling and in sales, thus creating an additional day paid wage for Michaela. Thank you to Michaela for her input, and hard work in getting the Kids unit to the great place in is now. Due to the increase in demand Kids upcycle also maintains its own social media page which is growing in popularity and allows much more advertising of the individual children's items we have available. Sales in this area have almost doubled week on week since the mezzanine floor extension. ## Kids Upcycle Cinderford Due to the success of the Kids Upcycle in Chepstow we have also been working hard to improve to layout of the Kids section over at Cinderford. This has been moved from downstairs to a new upstairs mezzanine floor and continues to go from strength to strength. Sam has been employed here on a part time basis to help maintain the area and run a separate social media page. ## Ugandan Book Donations The bookshop, who's donations are now solely set aside for projects and grants for individuals in Uganda has seen steady week on week increase in donation revenue. A dedicated book shop has also been added to Cinderford and between the two units can generate anywhere between £100 and £200 a week in donations meaning the project is able to support ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## _Volunteer contributions_ Once again, a huge thankyou goes out to all our volunteers. Ashley Martin (Trustee) and Rona Martin (Trustee) have been invaluable in the extension of the mezzanine in both Kids unit and the installation of the coffee shop. Philip has learning disabilities and continues to work with the gardening team during the week as a gardening assistant. Phil was originally referred to us by National Star College in Cheltenham. He is mainly supported by head gardener Paul and enjoys his time working in customers gardens. Tom has been with us for almost 7 years. He attends the Cinderford branch of the project 4-5 days a week, making himself available for furniture collections, gardening and house moves. Tom continues to use his wood working training to help fix and mend items of furniture as necessary and has so far made hundreds of bags of kindling from recycled wood. Tony our handyman volunteer has worked hard to repair furniture which might otherwise have been disposed of and also upcycled scrap wood, teapots and teacups into lovely bird feeders which generated additional revenue for the shop. Ed Haythornthwaite a professional bike mechanic who is training our apprentice bike mechanics. His work has been invaluable both in terms of teaching and safety checking our upcycled bikes. Roger has been incredibly helpful at helping out with collections, deliveries and tip runs at the Cinderford unit. Roger also supplies to café. Regular volunteers at Cinderford Brandon from Star Collage Dave from Stepping Stones Yvonne from Stepping Stones Neville who comes in for 2 days a week fixing and building useful things Janet from Merryden Wendy for improving the appearance of Cinderford unit and work helping the poorest in society. Simon has been providing help and advice with staffing and financial advice. Lon - who has overcome change much better in the past year and for keeping the bookshop well stocked and in order in the Chepstow shop which has helped to drive the increase in donations. Other fantastic volunteers worth a mention in this report include Spencer, Daffyd, Tony, Hazel, Kelly, Liam, and not forgetting some new regular volunteers such as Colin, John and Jean who have helped immensely with small projects around the Chepstow branch Grants: Total of £1500 from Tesco local communities fundraising to help with heating of the café/kids Upcycle building Total of £1000 from Southwest foundation to help with the day to day running costs ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## _Main achievements of the Forest Upcycling Project_ The operational period of 1st June 2021 - 31st May 2022 has seen a much-improved performance and recovery after the lockdowns caused by the Covid - 19 pandemics. All staff and volunteers maintained a great level of professionalism by following all mandated Covid guidelines (face masks etc) late into 2021/early 2022. ## _Premises_ - " Mezzanine extension - Kids Upcycle Chepstow - " Mezzanine extension - Kids Upcycle Cinderford - " Coffee shop embedded with upgraded equipment - " Refuse Area - Thank you to Ashley and Rona for helping us to install gates to both refuse areas to help maintain a better environment for our coffee shop customers " Drain covers in Chepstow courtyard - Again many thanks to Ashley and Rona for taking on the task of completing this - " Installation of CCTV in the courtyard & bar area - " Kids upcycle in Cindeford - " Construction of a sold area in Cinderford ## _Furniture sales_ Across both stores this year we have sold over 20,000 items of furniture and home goods, breakdown as follows: Chepstow - 11,578 items of furniture Cinderford - 8942 items of Furniture Over 45% to people on benefits, and many offered for reduced rates or free delivery in conjunction with the council. We have given many items away for free to those in need. ## _Training and development_ This year we are proud to have been able to upskill 9 of our employees on the First Aid at work course which helps to provide a safer environment for all staff and customers Matt attended alcohol licencing course to ensure we are up to date and following good processes in regards to alcohol sales. Gaining his personal license has allowed us to maximise the sales on our pop up and private events. Coffee at Upcycle now has a premises licence to sell alcohol. ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## _Helping the environment_ In 2021/2022 we have saved over 200 tonnes of furniture from going to landfill, breakdown as follows: Chepstow - 130 tonnes Cinderford - 151 tonnes We continue to turn scrap wood into new products or kindling and recycle all the metal from waste products where possible. Our volunteers are a great help in this. We aim to salvage all recyclable materials from products before they are destroyed. Most of our scrap wood gets turned into kindling and sold in pillow-cases, and what we can't use for this goes to the local recycling centre to be turned into soil conditioner. The eco sales in Chepstow is also gaining momentum and month on month we are seeing increase usage of the facility and reduction in plastic usage by our customers. We have opted to simplify the offering at the moment to just core household cleaning items and aim to review this going forward in order to give the customers the best value for money as possible. ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## _Helping people_ We have many regular volunteers at both sites, referred by a variety of different sources. Some of these volunteers are temporary, but many stay on for longer periods of time, becoming valued members of the team, which improves their self-worth and confidence. At the end of this year, we now have 28 employees. We have worked closely with Gloucestershire Welfare Reform, Social Services, Two Rivers Housing, Green Square, The Salvation Army, Monmouthshire Housing and the Barnwood Trust to provide furniture to many clients in desperate need. We have supported 1 x employee to overcome substance abuse and move from a room share to be able to rent their own flat. They continue to go from strength to strength and we are proud of the progress they have made and commitment they are making to their sobriety. Our coffee shop has run a successful 'Pay it Forward' campaign and so far, has helped provide free coffee, cake and toasties to 116 people in our local community, with another 37 in the pipeline. Francesca is also trying to form contacts with the local homeless shelters and food bank to ensure these Pay it Forwards go to those who need in most in our community. We have given away free furniture to many people in need this year but the below examples really stuck out with the whole team: " We were able to help 2 separate families with furniture to refill their houses after sadly losing their homes to a fire in early 2022. One lady had sadly lost her husband after the fire so it was even more special to help her feel good in her new home " We also helped a lady who had been relocated 400 miles from her original home in Scotland to our area, she left with her 3 children suddenly with nothing so we worked with the council to be able to provide her with a full house of furniture to help her settle in. As mentioned above we have helped extensively with Ukraine aid in 2022 and helped to welcome refugees into our community by supporting both them and their hosts We also provide a much-needed training area for 2 separate dog trainers who specialise in bomb and sniffer dogs for large scale public events. It has been a pleasure to provide our facility on a Wednesday to help ensure the safety of our local community at large Music and public events. This also supports the military veterans who are employed by these trainers. Lastly, we have been able to provide over 20 families with subsidised furniture whilst we have been working with Lorraine from Monmouthshire housing with our voucher scheme. Reserves in the account are kept at £56,000 minimum. This value has changed through the year as we have acquired more employees, vehicles and premises. It represents running costs for a 4-week period. ## _Sources of funding_ Sales of furniture has been our key income, followed by gardening, house moves, bike sales, eco refill shop and house clearances. Most recently the coffee shop and private parties hosted in the coffee shop have also added to this funding. ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## _Expenditure_ Our main costs are operational and include running vehicles (the Charity now has fleet of 5 vans), paying rent and utility bills and most importantly wages. Income from our products and services support these costs each month. - " The extension of the mezzanine in Chepstow; - " The extension of the mezzanine in Cinderford. - " A large donation to Ugandan Upcycle for the building of teachers houses; - " A Large donation for the refurbishment of the medical centre in Ngora - " New coffee shop equipment - " Ukrainian Aid - Arctic Lorry ## **Plans for future periods** Due to the development of the charity over the last 7 years, it will become necessary this year to amend our constitution which was written at the charity's launch. This will be a work in progress throughout this operational year. There have been no serious incidents at Forest Upcycling Project this year and we continue to review our policies and risk assessments throughout the operational year. Moving in to Year 8 we have some exciting projects lined up: - Kasanje Bike Project Uganda - Freezer collaboration with the Citizens advice bureau and Monmouthshire council - Library of things in conjunction with Monmouthshire council ## **The Forest Upcycling Project** ## **Report of the trustees for the year ended 31 May 2022** ## **Statement of trustees' responsibilities** The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity 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 and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other On behalf of the board ## **Secretary** ## **The Forest Upcycling Project** ## **Independent examiner's report to the trustees on the unaudited financial statements of The Forest Upcycling Project.** I report on the accounts of The Forest Upcycling Project for the year ended 31 May 2022 set out on pages 2 to 21. ## **Respective responsibilities of trustees and independent examiner** As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, as amended; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, as amended; and to state whether particular matters have come to my attention. ## **Basis of independent examiner's statement** 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 or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and 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: - (i) which gives me reasonable cause to believe that in any material respect the requirements: - to keep proper accounting records in accordance with section 41 of the Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or - (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ........................................................... **Mr Ben Hinton A.C.C.A Independent examiner Unit 1C Crucible Close Coleford Gloucestershire GL16 8RE** ## **The Forest Upcycling Project** ## **Statement of financial activities** ## **For the year ended 31 May 2022** |**Unrestricted**
**funds**
**Notes**
**£**
**Incoming resources**
Incoming resources from generating funds:
Voluntary income
2
12,533
Activities for generating funds
3
588,517
Other incoming resources
4
-
**Total incoming resources**
601,050
**Resources expended**
Purchases
60,091
Staff costs
5
371,111
Establishment costs
72,953
Motor and travelling expenses
44,922
Accountancy fees
1,200
Legal and professional fees
-
Communications and IT
3,096
Other office expenses
12,098
Depreciation and impairment
11,560
Loss on disposal of intangible fixed assets
for the charity's own use
-
**Total resources expended**
577,031
Total funds brought forward
155,318
**Total funds carried forward**
179,337|**2022**
**Total**
**£**
12,533
588,517
-
601,050
60,091
371,111
72,953
44,922
1,200
-
3,096
12,098
11,560
-
577,031
155,318
179,337|**2021**
**Total**
**£**
140,580
324,033
3,850| |---|---|---| |||468,463| |||61,697
263,167
54,989
25,508
1,200
400
2,142
4,048
10,791
6,169| |||430,111| |||116,969| |||155,321| The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. **The notes on pages 17 to 21 form an integral part of these financial statements.** ## **The Forest Upcycling Project** ## **Income and expenditure account** ## **For the year ended 31 May 2022** |||**2022**||**2021**|| |---|---|---|---|---|---| ||**Notes**|**£**||**£**|| |**Income**||601,050||468,463|| |Net gains/(losses) from disposal of income fund fixed assets||-||(6,169|)| |**Total income**||601,050||462,294|| |Operating expenditure||(577,031|)|(423,942|)| |**Operating surplus**||24,019||38,352|| |**Retained surplus for the financial year**||24,019||38,352|| All activities derive from continuing operations. **The notes on pages 17 to 21 form an integral part of these financial statements.** ## **The Forest Upcycling Project** **The notes on pages 17 to 21 form an integral part of these financial statements.** ## **The Forest Upcycling Project** ## **Balance sheet as at 31 May 2022** |**Notes**
**Fixed assets**
Tangible assets
7
**Current assets**
Debtors
8
Cash at bank and in hand
**Creditors: amounts falling**
**due within one year**
9
**Net current assets**
**Total assets less current**
**liabilities**
**Provisions for liabilities**
10
**Net assets**
**Funds**
11
Unrestricted income funds
**Total funds**|**2022**
**£**
**£**
65,508
3,996
115,167
119,163
)
(3,641
115,522
181,030
)
(1,444
179,586
179,337
179,337|**2021**
**£**
**£**
61,147
3,640
96,522
100,162
)
(4,590
95,572
156,719
)
(1,398
155,321
155,318
155,318| |---|---|---| The financial statements were approved by the trustees on 12 November 2022 and signed on its behalf by **Ashley Martin Trustee** **The notes on pages 17 to 21 form an integral part of these financial statements.** ## **The Forest Upcycling Project** ## **Notes to financial statements for the year ended 31 May 2022** ## **1. Accounting policies** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. ## **1.1. Basis of accounting** The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 1993. ## **1.2. Cashflow** The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity. ## **1.3. Incoming resources** All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold. Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable. Income from the charity shop is included in the year in which it is receivable. ## **1.4. Resources expended** Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. ## **The Forest Upcycling Project** ## **Notes to financial statements for the year ended 31 May 2022** ## **1.5. Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: - Plant and machinery 15% Reducing Balance - Fixtures, fittings and equipment 15% Reducing Balance Motor vehicles - 15% Reducing Balance ## **1.6. Defined contribution pension schemes** The pension costs charged in the financial statements represent the contribution payable by the charity during the year. ## **2. Voluntary income** |**Unrestricted**
**funds**
**£**
COVID 19 & JRS Grants
4,000
Ugandan Donations
8,533
12,533|**2022**
**Total**
**£**
4,000
8,533
12,533|**2021**
**Total**
**£**
139,704
876| |---|---|---| |||140,580| ## **3. Activities for generating funds** |**Unrestricted**
**funds**
**£**
Sales - Furniture
448,724
Sales - Gardening
47,049
Sales - Eco
1,963
Sales - House moves
13,169
Sales - Cafe
56,455
Other Income
21,157
588,517
**Other incoming resources**
Rental Income|**2022**
**Total**
**£**
448,724
47,049
1,963
13,169
56,455
21,157
588,517
**2022**
**Total**
**£**
-
-|**2021**
**Total**
**£**
270,353
36,701
314
-
-
16,665| |---|---|---| |||324,033| |||**2021**
**Total**
**£**
3,850| |||3,850| ## **4. Other incoming resources** ## **The Forest Upcycling Project** ## **Notes to financial statements for the year ended 31 May 2022** ## **5. Employees** |**Employment costs**
Wages and salaries
Social security costs
Pension costs|**2022**
**£**
346,021
17,251
7,839
371,111|**2021**
**£**
246,825
10,801
5,541| |---|---|---| |||263,167| No employee received emoluments of more than £60,000 (2021 : None). ## **Number of employees** The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows: |
Project Manager
Deputy Manager
Recycling Coorinator
Gardner
Coffee Shop / Other|**2022**
**Number**

2
2
13
3
7
27|**2021**
**Number**
2
2
11
3
5| |---|---|---| |||23| ## **6. Pension costs** The company operates a defined contribution pension scheme in respect of the employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and was as follows: |was as follows:||| |---|---|---| ||**2022**|**2021**| ||**£**|**£**| |Pension charge|7,839|5,541| ## **The Forest Upcycling Project** ## **Notes to financial statements for the year ended 31 May 2022** |**Fixtures,**
**7.**
**Tangible fixed assets**
**Plant and fittings and**
**machinery**
**equipment**
**£**
**£**
**Cost**
At 1 June 2021
13,937
26,149
Additions
-
15,920
At 31 May 2022
13,937
42,069
**Depreciation**
At 1 June 2021
5,245
6,799
Charge for the year
1,304
5,290
At 31 May 2022
6,549
12,089
**Net book values**
At 31 May 2022
7,388
29,980
At 31 May 2021
8,692
19,350
**8.**
**Debtors**
Trade debtors
Other debtors
**9.**
**Creditors: amounts falling due**
**within one year**
Other taxes and social security
Other creditors
Accruals and deferred income||**Motor**
**vehicles**
**£**
44,677
-
44,677
11,572
4,966
16,538
28,139
33,105
**2022**
**£**
2,819
1,177
3,996
**2022**
**£**
2,692
-
950
3,642|**Total**
**£**
84,763
15,920
100,683
23,616
11,560
35,176
65,507
61,148
**2021**
**£**
1,041
2,599
3,640
**2021**
**£**
3,407
)
(17
1,200
4,590| |---|---|---|---| ||||| ||||| ||||| ## **The Forest Upcycling Project** ## **Notes to financial statements for the year ended 31 May 2022** ## **10. Provisions for liabilities** |||||**Pensions**|| |---|---|---|---|---|---| |||||**and similar**|| |||||**obligations**|| |||||**£**|| |At|1|June|2021|(1,438|)| |**11.**|**Analysis of net assets between funds**|||||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||**Unrestricted**||||**Total**||| |||||**funds**||||**funds**||| |||||**£**||||**£**||| ||Fund balances at 31 May 2022 as represented by:|||||||||| ||Tangible fixed assets|||65,508||||65,508||| ||Current assets|||119,163||||119,163||| ||Current liabilities|||(5,335|)|||(5,335|)|| |||||179,336||||179,336||| |**12.**|**Unrestricted funds**|**At**||||||**At**||| |||**1st April**|**Incoming**|**Outgoing**|||**31st March**|||| |||**2021**|**resources**|**resources**||||**2022**||| |||**£**|**£**|**£**||||**£**||| ||General Funds|155,318|601,050|)
(577,031|||179,337|||| ## **Purposes of unrestricted funds** Running cost funds ## **The Forest Upcycling Project** **The following pages do not form part of the statutory accounts.** ## **The Forest Upcycling Project** ## **Detailed statement of financial activities** ## **For the year ended 31 May 2022** **2022 2021 £ £** |**Charitable activities**
**Activity 1**
_Activities undertaken directly_
Activity1 - Direct - Staff - Wages & Salaries
Activity1 - Direct - Staff - Employer's NIC
Activity1 - Direct - Staff - Pension costs
Activity1 - Direct - Establishment - Rent
Activity1 - Direct - Establishment - Rates & water
Activity1 - Direct - Establishment - Light & heat
Activity1 - Direct - Establishment - Rep. & maint.
Activity1 - Direct - Establishment - Insurance
Activity1 - Direct - Motor vehicle expenses
Activity1 - Direct - Other motor & travel expenses
Activity1 - Direct - Office expenses - Telephone
Activity1 - Direct - Printing, Postage and Station
Activity1 - Direct - Advertising
Activity1 - Direct - Computer Costs
Activity1 - Direct - Hire of Equipment
Activity1 - Direct - Staff Welfare
Activity1 - Direct - Training Costs
Activity1 - Direct - Subscriptions
Activity 1 - Direct - Licenses
Activity1 - Direct - Depreciation & impairment
**Activity 1 total expenditure**
**Total charitable activity expenditure**
**Governance costs**
_Activities undertaken directly_
Professional - Accountancy fees
Professional - Other
Office expenses - Other
**Total governance costs**
**Other resources expended**
Loss on disposal of tangible fixed assets
**Net incoming/(outgoing) resources for the year**|346,021
17,251
7,839
51,015
4,277
6,424
6,693
4,544
44,275
647
3,096
941
581
1,232
4,222
3,955
712
79
376
11,560
950
-
)
(1|515,740
515,740
515,740
949
949
-
)
(52,488|246,825
10,801
5,541
44,644
36
2,744
1,341
6,224
25,209
299
2,142
50
67
931
1,756
980
227
40
-
10,791
1,200
400
)
(3|360,648
360,648
360,648
1,597
1,597
6,169
)
(41,098| |---|---|---|---|---| ## **The Forest Upcycling Project** ## **Detailed statement of financial activities** ## **For the year ended 31 May 2022** |**Incoming resources**
**Incoming resources from generating funds:**
_Voluntary income_
COVID 19 & JRS Grants
Ugandan Donations
_Activities for generating funds_
Sales - Furniture
Sales - Gardening
Sales - Eco
Sales - House moves
Sales - Cafe
Other Income
**Total incoming resources from generating funds**
**Other incoming resources**
Rental Income
**Total incoming resources**
**Resources expended**
**Costs of generating funds:**
**Cost of generating voluntary income**
_Donations_
Donations - Purchases
**Total cost of generating voluntary income**
**Fundraising trading:**
**cost of goods sold and other costs**
_Shop costs_
Shop costs - Purchases
_Activity 1_
Activity 1 - Shop Purchases|**2022**
**£**
**£**
4,000
8,533
12,533
448,724
47,049
1,963
13,169
56,455
21,157
588,517
601,050
-
-
601,050
24,194
24,194
24,194
15,545
15,545
20,352
20,352|**2021**
**£**
**£**
139,704
876
140,580
270,353
36,701
314
-
-
16,665
324,033
464,613
3,850
3,850
468,463
42,364
42,364
42,364
19,313
19,313
20
20|**2021**
**£**
**£**
139,704
876
140,580
270,353
36,701
314
-
-
16,665
324,033
464,613
3,850
3,850
468,463
42,364
42,364
42,364
19,313
19,313
20
20| |---|---|---|---| ||||140,580| ||||270,353
36,701
314
-
-
16,665| ||||324,033| ||||464,613| ||||3,850| ||||3,850| ||||468,463| ||||42,364| ||||42,364| ||||19,313
20| ## **The Forest Upcycling Project** ## **Detailed statement of financial activities** **For the year ended 31 May 2022** |**Total fundraising trading**||| |---|---|---| |**cost of goods sold and other costs**|35,897|19,333| |**Total costs of generating funds**|60,091|61,697|