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2022-03-31-accounts

The Recover Team Report of the Trustees and Annual Accounts

Annual Report and Accounts For the year ended 31[st ] March 2022

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The Recover Team Report of the Trustees and Annual Accounts

Contents:

Trustees, Report 3-21
Statement of Trustees' Responsibilities 22
Independent Examiner's Report 23
Statement of Financial Activities 24
Balance Sheet 25
Notes to the Financial Statements 26-35
Statement of Financial Activities 36-37

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The Recover Team Report of the Trustees and Annual Accounts

TRUSTEES

Huw John Phillip Thomas Susan Valerie Johnson Matthew William Buckley Sarah Law

Chief Executive Officer (& Founder) Ian Block

REGISTERED OFFICE

The Recover Team Limited Unit 19, Tewin Court Welwyn Garden City Hertfordshire AL7 1AU

REGISTERED COMPANY NUMBER 08722235 (England and Wales) REGISTERED CHARITY NUMBER 1167218

INDEPENDENT EXAMINER

ACCOUNTANTS

BANKERS

RS Partnership Riverside House 14 Prospect Place Welwyn Hertfordshire AL6 9EN Metro Bank 77 St Peter’s Street St Albans Hertfordshire AL1 3ED

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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 2015).

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The Recover Team Report of the Trustees and Annual Accounts

TRUSTEES

Statement from our Founder and CEO

It was with excitement, enthusiasm, and a big sense of relief that we were able to fully reopen in April 2022. During the chaos and uncertainty of the previous year our Trustees and staff worked continuously and with great gusto to ensure we would have every chance of a very strong ‘bounce back’. This included, but was not limited to:

OBJECTIVES AND ACTIVITIES Objectives and Aims

Mission

“Transforming Furniture Transforming Lives,” providing a safe, therapeutic, work focused environment where vulnerable adults are empowered, trained, and supported in transforming unwanted furniture in to desirable and saleable items, whilst reducing waste to landfill.

Vision

For isolated and hard to reach vulnerable adults throughout Hertfordshire and beyond to receive opportunities to acquire the skills they need to reintegrate with communities and find sustainable, satisfying, and worthwhile employment and improved wellbeing.

Executive Summary

Recover is a furniture up-cycling charity, creating pathways into volunteering and employment. At its heart is a commitment to sustainability by up-cycling unwanted furniture and materials donated or reclaimed throughout Hertfordshire and beyond.

We offer vulnerable adults (those excluded from society and furthest from employment) new fulfilment and purpose.

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The Recover Team Report of the Trustees and Annual Accounts

Our beneficiaries include those who have been affected by mental health issues, substance abuse, alcoholism, a criminal record, homelessness, a disrupted education or are victims of crime and abuse. Recover offers people life-changing experiences, work experience and accredited qualifications. Along the way they also gain a love of furniture, design, and a belief in supporting the local community, environment, and economy.

In the workshop the volunteers up-cycle furniture right from the initial design, producing outstanding and original items. They receive professional training and support, research current trends and techniques, plan how they can make a saleable piece of furniture; repair, sand, measuring, cutting, sewing, paint and finish before learning about pricing and marketing.

Along with nationally recognised and accredited qualifications Recover also has its own inhouse 'Skills and Competencies' workbook. Through this programme volunteers will learn up to 30 different transferable workshop skills at 3 different levels.

The enhanced support, structure and routine provided by Recover, including all the above, has achieved very positive outcomes for our participants. Many have moved into full-time sustainable employment, and all demonstrate significant increase in confidence, self-esteem, feelings of self-worth and general wellbeing.

Recover's policy is one of inclusivity and diversity. However, as an adult enterprise, the only mandatory criterion is that one must be 18 years of age, accompanied by an adult, or attending as part of a work experience program from school or college with the necessary safeguards in place. We do not exclude anyone based on disability, gender reassignment, marriage / civil partnership status, pregnancy or maternity, race, religion or belief, sex, or sexual orientation.

Public benefit

The trustees have had regard to the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

The story of Recover over the last 12 months

Partnership working

Prior to the pandemic, we put a huge amount of effort into building a strong network of partner organisations through providing staff engagement workshops and events for service users to generate referrals. With the significant turnover of partner staff during the pandemic and slow return to faceto-face delivery for many, we anticipated that we would need to ‘start from scratch’ to establish relationships with new teams. However, this has not been necessary for several reasons:

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The Recover Team Report of the Trustees and Annual Accounts

Extended opening – 5 days/week

As our partnership working has evolved so well, we no longer need to reserve Wednesdays for Staff Engagement Workshops and presentations. Additionally, a number of our long-term participants have requested to attend Recover on more days each week. Recognising that boredom on days away from our workshop can lead to temptation to slip back into old habits (especially for those living in HMOs or hostels), they need to sustain their engagement with Recover on more days.

In August we increased delivery to 5 days/week. This has resulted in increased variable costs (a member of staff moving to full-time, increased utilities and travel costs).

Emmaus Project Update

3 or 4 Emmaus Companions continue to attend every Friday. They tell us how much they look forward to attending Recover each week. One of the Companions has progressed to the point that she is able to train other Companions at the Emmaus workshop and has the confidence to demonstrate her skills to visitors there.

Team Update

We have been delighted that the number of participants has increased – we are now welcoming around 10 team members each day and the workshop is busy and vibrant with activity and laughter. We now have a more diverse team. Of the 10 new participants who have joined since April 2022, 3 are male and 3 are from BAME backgrounds. More participants are now able to attend on more days each week – several come 5 days/week.

Additional support to participants

We provide free lunch and re-imburse travel costs to ensure there are no financial barriers to participation. However, the cost-of-living crisis is impacting many of our participants. We have therefore created the Recover Pantry – where participants can swap food which they have received from Food Banks (eg swapping rice for food which is cheaper to prepare).

Ocado donates unsold food to Resolve (one of our partners). In turn, Resolve donates food that they are unable to use to Recover to ensure no waste. This food is used for our team lunches and available for participants to take home.

IMPACT

Methodology

We use Outcomes Star software to monitor and measure the impact of our work on participants. We use the Recovery Star, which measures a participants’ attitude to the following outcomes on a 10point scale: Managing mental health, Physical health, Living skills, Friends and community, Use of time, Relationships, Addictive behaviour, Home, Identify and self-esteem, and Trust and hope. On completion of the Star, participants identify one or two areas which they would like to focus on and agree an action plan. We support participants to achieve their goals – this can include enhanced

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The Recover Team Report of the Trustees and Annual Accounts

support which we provide beyond the workshop environment.

Participants are supported to complete their first Star when they attend a Taster Day. They repeat the Star every few months (generally between 3 and 6 months, depending on an individual’s needs). The majority of participants complete this exercise with Holly our Workshop Manager. However, if a participant chooses not

to engage with the tool, Holly completes a Star based on observations from her daily 1:1 training support and discussions with the individual. Holly has identified common factors which may have a short-term, but significant impact on how a participant scores their Star – for example scores for Home and Friends and community can dip severely around Christmas time.

Reporting

We use reports produced by the Outcomes Star package. In addition to reporting for each individual (which is confidential) the Star Online Distance-travelled Report demonstrates how much progress all participants have made in each Outcome area. It measures:

The report measures progress between the first (baseline) Star completed and the 2[nd] Star completed. It further measures progress between the 2[nd] and 3[rd] Star. We can select a time period for reporting (eg last 12 months).

The Outcomes Star program only reports progress for 3 Stars for each participant – with an average of 4

months between completion of each Star, this covers an 8-month period. Whilst this is a limitation, we have found that for our long-term participants, the benefits tend to plateau after this period of time, as does their interest in continuing to engage with the process.

Reports

The following reports all relate to the time period 1[st ] October 2021 – 30[th] September 2022 and show results for the 39 people who joined Recover during this time period.

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The Recover Team Report of the Trustees and Annual Accounts

1. What percentage of people are making progress in more than 1 Outcome area?

October 2021 - End September
2022
Baseline to
2nd
2nd to 3rd		 October 2021 - End September
2022
Baseline to
2nd
2nd to 3rd		 October 2021 - End September
2022
Baseline to
2nd
2nd to 3rd
Making progress in 1+ Areas
100%
90%
Making progress in 2+ Areas
96%
81%
Making progress in 3+ areas
92%
67%
No of Outcome areas showing
progress		 6.7 4.0

It is pleasing to see that all participants record an improvement in at least 1 area in the 1[st] reporting

period, and 92% experience an improvement in more than 3 areas. These percentages remain high in the 2[nd] reporting period, with 67% again showing progress in more than 3 areas.

2. What percentage of people are making progress in each Outcomes area?

----- Start of picture text -----
October 2021 - End Baseline to 2 [nd] 2nd to 3rd
September 2022 Improve Maintain Decline Improve Maintain Decline
Managing mental
health 69% 15% 15% 57% 43% 0%
Physical health 38% 36% 26% 48% 38% 14%
Living skills 54% 36% 10% 48% 53% 0%
Friends &
community 56% 36% 8% 43% 29% 29%
Use of time 74% 13% 13% 52% 43% 5%
Relationships 79% 15% 5% 33% 52% 14%
Addictive behaviour 59% 29% 10% 14% 81% 5%
Home 72% 21% 8% 29% 52% 19%
Identity & self-
esteem 69% 21% 10% 43% 52% 5%
Trust & hope 72% 23% 5% 38% 57% 5%
----- End of picture text -----

Example: Between completion of the 1[st] (baseline) and 2[nd] Star, 69% of people made progress in managing their mental health, 15% recorded no change, and 15% reported a deterioration. Between completion of the 2[nd] and 3[rd] Star, 57% of people recorded a further improvement in mental health, 43% recorded no change, and no participants experienced a decline.

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The Recover Team Report of the Trustees and Annual Accounts

Observations:

3. What is the average improvement in Star reading for each Outcome area?

----- Start of picture text -----
October 2021 - End Baseline to 2nd 2nd to 3rd
September 2022 Average Average
Improvement Improvement
Managing mental
health 1.63 1.08
Physical health 2.00 1.70
Living skills 1.52 1.20
Friends & community 1.73 1.33
Use of time 2.31 1.36
Relationships 1.87 1.14
Addictive behaviour 1.87 1.67
Home 2.11 1.50
Identity & self-esteem 2.11 1.33
Trust & hope 1.79 1.38
----- End of picture text -----

This measure illustrates the average change for those who moved forward on each area (on a 10-point scoring scale).

Example: For the 69% of participants who recorded progress with Managing mental health in the 1[st] time period, the average improvement was 1.63 points. For the 57% who recorded progress in the 2nd time period, the average improvement was 1.08 points.

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The Recover Team Report of the Trustees and Annual Accounts

Observations:

4. What is the average decline in Star reading for each Outcome area?

----- Start of picture text -----
October 2021 - End September Baseline to 2nd 2nd to 3rd
2022 Average Decline Average Decline
Managing mental health 1.33 0.00
Physical health 1.60 1.33
Living skills 1.25 0.00
Friends & community 1.33 1.00
Use of time 1.80 1.00
Relationships 1.00 1.33
Addictive behaviour 2.50 1.00
Home 2.33 1.50
Identity & self-esteem 1.25 3.00
Trust & hope 1.00 1.00
----- End of picture text -----

This measure illustrates the average change for those who moved back on each area (on a 10-point scoring scale).

Example: For the 15% of participants who recorded a deterioration in Managing mental health in the 1[st] time period, the average decline was 1.33 points. As no participants recorded a deterioration in the 2nd reporting period, the package reports 0%.

Observations:

As the percentage of people reporting a deterioration is often low, these scores can be derived from a very small base. For example, the biggest deterioration shown in the table above is for Identity and self-esteem in the 2[nd] reporting period. However, only 5% of participants recorded a decline. Whist we wouldn’t want to discount these findings, it is worth bearing this in mind.

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The Recover Team Report of the Trustees and Annual Accounts

Testimonial and Case Study - participants who have joined Recover in the last 6 months (Initials have been changed for confidentiality and GDPR)

TS

I started Recover on the 1[st of] September; I have absolutely loved it so far! I have previously bought items from recover as I love their unique quirkiness. I had always dreamt about being on the other side and had fantasised about what it would be like, but never had the confidence to enquire about volunteering.

After graduating daily rehab for over 2 years from substance abuse and childhood trauma, I started an intense course to gain access to higher education. When this ended in June and realising, I had a year until I started university. I felt lost. I realised I had not given myself a chance to explore what I enjoyed or what filled my soul. This caused me to feel sad and fearful of where myself and my recovery would go. I have always had a passion for painting and getting creative but have always allowed blocks to come in the way of me doing such things, for example, perfectionism, negativity, imposter syndrome, comparison, and self-doubt. When I hit a wall of feeling fearful and lost, I made a promise to myself, that this year I would focus on doing

things that lit me up from the inside out, but also challenged my blocks. With that, I had realisation of what a perfect opportunity to ask Recover if I could start volunteering.

So far in the short 3 weeks of starting Recover, I have faced so many blocks already, which I know will be a continued journey. Doing this allows me to build my self-esteem, confidence and to be able to connect to myself to my imagination and creativity.

Being in such a friendly environment I do not feel like I compare myself to others, because it is clear to me, we are all unique in our own way. We all affirm each other, and this gives a real felt sense of

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The Recover Team Report of the Trustees and Annual Accounts

non-judgemental love and community. Not only am I learning to face my blocks and build myself up, but I am also learning so many life skills, be it, communication, helping others, asking for help and advice, how to affirm others and skills in how to upcycle!

I am so grateful to have been given this opportunity, and I know its only going to change my life for the better. This is more than just a voluntary job. It is as unique as all the furniture created.

KR

“Recover has been a fresh breath in recent months, following years of difficult and negative thinking patterns and inspired new thoughts and ideas that have given me a brighter and positive outlook on the future.”

KR was released from custody following a long sentence for an offence relating to alcohol and drug dependency. He is housed in an HMO (Resolves Restart housing project for homelessness) and is stable and abstinent. Following his visit for an initial look during the summer, he booked a taster session and has been engaging with us regularly, now as a

core team member. More recently he has got part-time work fitting kitchens and general decorating. RK continues to attend our workshop and wants to further develop his skills, he is very keen to learn as many different new skills as he can.

It has been good to see his confidence grow to the extent that he is always willing and helpful if needed to go out on our van to collect/deliver furniture and meet with the donors/clients.

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The Recover Team Report of the Trustees and Annual Accounts

Additionally, KR has expressed that he would like to ‘give back’ a little and has been helping at Resolves Sparks community café and Sparkles mother and baby community shop. Recently we donated a child’s desk and chair for Sparkles and KR spent a lot of time upcycling it using the skills and techniques acquired at Recover. These have now been given to one of their service users daughters who has special needs. It made her Year!

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The Recover Team Report of the Trustees and Annual Accounts

Participant who has been with recover for just over one year

KS: First contact was via a telephone call from KS, November 2021 to find out more information about Recover, following initial mention from his CGL support worker (Bernadette), who was present at a Recover presentation to staff at their Hatfield hub.

During the phone call KS disclosed historical offending and class A drug use but stated currently abstinent. Originally from inner London, became homeless and was housed at the One YMCA Peartree Lane facility and has recently moved into independent living at a flat in Panshanger.

We always invite potential participants to pop in for a casual look around and chat in person with no obligations prior to booking a first ‘taster session’. KS was anxious during his call, something that is quite usual and observing this we suggested that he could come along with his support worker if this would make it easier for him to get here. We let KS know that this would also be a good opportunity for Bernadette to see first-hand what is on offer at Recover along with supporting him to get here. An appointment was made for later the same week, and both were welcomed and given a tour of the workshop and enjoyed the opportunity to chat with other participants that were in attendance. As per our policy we told him to go away and sleep on it, then get back in contact to book in a ‘taster session’ if he wanted to give us a go. KS contacted us the following day and arrange his first session with us for a couple of days later.

During the session it was clear that he had been experiencing extreme isolation and was also suffering from a lack of self-esteem, confidence, and feelings of self-worth. He clearly benefitted from the nonjudgmental and therapeutic environment and was keen to listen during the furniture up-cycling tutorials and then was able to execute what had been demonstrated to a very good standard. Following this first session, he was asked to get back in contact again (after sleeping on it) if he wanted to commit to a couple of days per week at Recover.

KS contacted us the next day and we put him on the rota. During the two months that he has been engaging with us we have got to find out much more about him (self-disclosure), his situation and needs. Like everyone that’s been to Recover with similar presenting issues there is always a multitude of complex underlying problems. We do our best to provide support in a holistic format as opposed to treatment and encourage participants to engage with specialised professional providers as required.

KS has disclosed that he had a very difficult, traumatic, and unpleasant divorce, then a relationship with a partner who committed suicide in his presence. A recent diagnosis of bowel cancer and several other medical problems, difficulties with his new flat, financial hardship and mental health issues. Recover is becoming well known for the training and skill sharing opportunities relating to transforming unwanted furniture but outside of our workshop less is known about the other enhanced levels of support we provide. Staff training and the licencing of the Outcome Star software that we now use is helping us with a better evidenced and structured mechanism for both participants and staff. KS scored very low on all ten points of his Star, and he agreed on two points to look at having an action plan to begin with and Recover is helping him with these.

We have been able to supply free of charge a significant amount of food and hygiene products that were surplus to requirements of another charity that we work alongside and just before Xmas we also gave him a £25 Tesco gift card. At the same time, he was having problems with his boiler and the council said the whole heating system needed replacing, this was during a very cold spell and the

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The Recover Team Report of the Trustees and Annual Accounts

council supplied him with electric blow heaters. Unfortunately, these are very costly to run, and he was unable to use them, we managed to source a plug-in oil heater that is much more economical to use, and we dropped this off at his flat.

KS says:

“If I’m honest I came to Recover with a pretty big wall up and wasn’t expecting much as I have been let down time and time again. All the consistency and warmth the team have shown me are beginning to chip away at that wall and can genuinely say I look forward to coming and working on my projects.”

----- Start of picture text -----
Second project
First project completed
----- End of picture text -----

Recover was very proud to receive a strong letter of recommendation from the Director of Public Health following his visit in person. We encourage everyone to pop in and experience first-hand the safe and therapeutic, work environment that is on offer to support clients that have completed or are stable with their respective treatment providers and frontline agencies.

Excerpt from a testimonial from Jim McManus Director of Public Health:

Jim has visited our workshop and seen first-hand our therapeutic approach and says -

“I particularly like the way you gently introduce people to what you do and give them space to discern if this will work for them. My reading of the scientific evidence on this is that increases the likelihood that people who do engage with this are those most likely to succeed. You know that I believe there is strong psychological evidence that this type of intervention and programme can achieve outcomes others cannot, and it has a strong place both in helping people into recovery, independence, and employment. I also feel your service is more holistic than those services people will have come from, and this is important for their journey.”

KS Update:

KS, for several months, has taken it on himself to cook daily lunches for the entire team with most of the food provided by another charity we work in partnership with. He comes everyday (except when he has appointments to attend, e.g., probation, GP and hospital). He has expressed a strong interest and desire to learn how to work on more complex upholstery projects and is now on his third

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The Recover Team Report of the Trustees and Annual Accounts

wingback armchair. He is requiring a little less supervision on each one as he progresses, and we anticipate if he continues to attend daily he will soon be able to complete these projects unsupervised.

SK – feeling happy, this one sold on completion for £750.

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The Recover Team Report of the Trustees and Annual Accounts

Testimonials - participants who have been at Recover for more than 3 years

PA

“I joined the Recover Team following eight months of non-residential rehabilitation for alcohol addiction.

On my first day at the workshop, I was welcomed by Ian and Holly and encouraged to pick a chair I would like to up cycle, I was shown the best way to sand and paint and I embarked cautiously and quietly on my first piece of up cycling.

Recover has taught me many new skills as my confidence has grown. When I am working on a piece of furniture, I am completely in the moment my worries are forgotten and I feel calm and focused. Teamwork is encouraged and we support one another both practically and emotionally when needed.

The power of a group is so much stronger than the sum of its parts. I spend two days a week at Recover, and I am so grateful to be a part of The Recover Team.”

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The Recover Team Report of the Trustees and Annual Accounts

FY

“When I first found Recover I was in a place in my life where I felt isolated, lacked confidence and motivation, and was not experiencing much enjoyment. I felt no purpose in life.

Then Going to Recover I felt that I had found a haven. I was amazed at the fantastic skills, and whilst I didn’t think that I could achieve such outcomes, I thought I might be able to contribute in some small way.

Now, 4 years later, I have a fantastic support network and feel part of an amazing Team. I have learned incredible new skills, which has really boosted my self esteem and confidence, and I enjoy life (mainly because I now have a productive purpose, and routine, and work with a group of kind supportive people). It’s also great to share skills with new people when they start, whilst continuing to learn myself.”

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The Recover Team Report of the Trustees and Annual Accounts

FINANCIAL REVIEW

Fundraising

The Trustees are pleased to acknowledge and thank the following trusts, foundations, and local authorities for their support this year:

The Trustees remain extremely grateful to local trust funds, Councillors and members of the public who continue to be generous in their support of the Recover Team.

This level of support and recognition is invaluable to a grass roots charity like Recover and all our Team feel proud to be considered worthy and are very much appreciative.

A most special thank you to Sue (our volunteer fundraiser) for a year of continuous hard work, dedication, and enthusiasm with her support for Recover.

Sue’s efforts go far beyond writing excellent applications. She is integral in the developing of relationships with our current funders along with potential new opportunities and income diversification strategies.

Commissioned Service. We were awarded our first contract in July 2021, alongside CGL and Emerging Futures. This is a Public Health England contract to provide support to ex-offenders, and those recovering from addictions to Class A drugs. Whilst we have a modest share of the contract, this has firmly established Recover as an essential service in Herts to support adults moving on from frontline treatment services.

We meet monthly with the Commissioning Manager to review progress and outcomes. Feedback has been very positive, and following completion of the pilot, the contract (£36,000) was renewed in July this year. We are told that this will be a 3-year contract – but this is obviously subject to funds continuing to be available as significant expenditure cutbacks are anticipated.

Sales of upcycled furniture

Our relationship with 2 Exporters (to Japan and Nigeria) continues, and export sales have accounted for 1/3[rd] of sales for the year.

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The Recover Team Report of the Trustees and Annual Accounts

Whilst the number of customer visits to our workshop has been lower than pre-pandemic, sales have been strong over the last 12 months. The impact of the cost-of-living crisis and likely recession may have a significant impact on future sales.

The opportunity to display some of our pieces at The Howard Centre has contributed to a considerable number of sales. These are from both, new customers and previous supporters that see pieces they like and prompts them to come and visit the workshop and showroom.

Our relationship with Emmaus has continued to develop and their shop in Tring that stocks our cushions and a selection of furniture sell out nearly every month.

As we have been selling our own pieces of furniture very well and stock levels need to be replenished regularly, we have taken on less commissioned work for clients this year. Although this is the case, we do have frequent enquiries and if sales from the workshop drop off and stock levels become high, we can revert to accepting more of our customers commissioned work.

The most noticeable change is the increase of online sales, these are purchases directly from our own website and third-party online platforms that we use (Vinterior & Etsy). Additionally social media posts generate much interest that in turn brings visitors to the workshop where they may purchase in person.

The challenges we experience are the best type:

Controlling costs

We have taken steps to protect Recover from current, and predicted future cost increase pressures:

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The Recover Team Report of the Trustees and Annual Accounts

RESERVES POLICY

The trustees have agreed a policy whereby funds not committed or invested in tangible fixed assets held by the company should be maintained at a level sufficient to pay rent, staff and running costs for a minimum of six months. This policy allows for a reduction of income or lack of fundraising success during any particular year whilst allowing the charity to continue its activities at the current level for six months. As at the year end the target level of reserves were calculated to be £115,152 of which £110,195 have been achieved.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Recover is committed to equal opportunities and operates an open recruitment process to attract individuals with the necessary skill set and commitment to help us succeed. Applicants will be sought through advertisement and are invited to a formal interview with the existing trustees as well as the business management. References are taken up before an appointment is made. All trustees would receive a full induction and participate in any on-going training events.

Risk management

The trustees have a risk management strategy which comprises regular review of the principal risks and uncertainties that the charity faces, the establishment of policies, systems, and procedures to mitigate those risks identified and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. These risks are focussed on both financial and non-financial risks (e.g., arising from fire, health, and safety).

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The Recover Team Report of the Trustees and Annual Accounts

Trustees Responsibility Statement

The trustees (who are also the directors of The Recover Team Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularity.

Approved by order of the board of trustees on 19 December 2022 and signed on its behalf by:

HJP Thomas HJP Thomas (Dec 21, 2022 10:40 GMT) ..........................................

Huw John Phillip Thomas – Chair of the Board of Trustees

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The Recover Team Report of the Trustees and Annual Accounts

Independent Examiner's Report to the trustees of The Recover Team Limited

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 7 to 24.

Respective responsibilities of trustees and examiner

As the charity’s trustees of The Recover Team Limited (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of The Recover Team Limited 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 matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of The Recover Team Limited as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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.

......................................

Chris Drinkwater FCCA

Riverside House 14 Prospect Place Welwyn Hertfordshire AL6 9EN

19 December 2022

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The Recover Team Report of the Trustees and Annual Accounts

Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Unrestricted
funds
£
Restricted funds
£
Total
2022
£		 Note
Unrestricted
funds
£
Restricted funds
£
Total
2022
£
Income and Endowments from:
Donations and legacies
3		 11,538
-
11,538
Charitable activities
4		 75,965
130,688
206,653
Investment income
5		 86
-
86
Other income
6		 31,554
-
31,554
Total income 119,143
130,688
249,831
Expenditure on:
Charitable activities
7		 (101,056)
(130,688)
(231,744)
Other expenditure
8		 (807)
(1,999)
(2,806)
Total expenditure (101,863)
(132,687)
(234,550)
Net income/(expenditure) 17,280
(1,999)
15,281
Net movement in funds 17,280
(1,999)
15,281
Reconciliation of funds
Total funds brought forward 86,916
7,998
94,914
Total funds carried forward
18		 104,196
5,999
110,195
Note Unrestricted
funds
Restricted funds
Total
2021
£
£
£
Income and Endowments from:
Donations and legacies
3		 20,642
-
20,642
Charitable activities
4		 41,130
118,454
159,584
Other income
6		 34,816
-
34,816
Total income 96,588
118,454
215,042
Expenditure on:
Charitable activities
7		 (58,290)
(146,996)
(205,286)
Other expenditure
8		 (1,529)
(2,666)
(4,195)
Total expenditure (59,819)
(149,662)
(209,481)
Net income/(expenditure) 36,769
(31,208)
5,561
Net movement in funds 36,769
(31,208)
5,561
Reconciliation of funds
Total funds brought forward 50,147
39,206
89,353
Total funds carried forward
18		 86,916
7,998
94,914

All of the charity's activities derive from continuing operations during the above two periods.

24

The Recover Team Report of the Trustees and Annual Accounts

Balance Sheet as at 31 March 2022

Note 2022
2021
£
£
Fixed assets
Tangible assets
14		 7,440
10,247
Current assets
Debtors
15		 21,673
1,359
Cash at bank and in hand
16		 199,859
172,541
221,532
173,900
Creditors: Amounts falling due within oneyear
17		 (118,777)
(89,233)
Net currentassets 102,755
84,667
Netassets 110,195
94,914
Funds of the charity:
Restricted income funds
Restricted funds
18		 5,999
7,998
Unrestricted income funds
Unrestricted funds 104,196
86,916
Total funds
18		 110,195
94,914

For the financial year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements on pages 7 to 24 were approved by the trustees, and authorised for issue on 19 December 2022 and signed on their behalf by:

HJP Thomas

HJP Thomas (Dec 21, 2022 10:40 GMT) ......................................... Mr Huw John Phillip Thomas Trustee

25

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

1 Charity status

The charity is limited by share capital, incorporated in . The address of its registered office is: Unit 19 Tewin Court Welwyn Garden City Hertfordshire AL7 1AU

These financial statements were authorised for issue by the trustees on 19 December 2022.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

The Recover Team Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

26

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

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.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Motor Vehicles 25% RB
Furniture & Equipment Over estimated useful life

27

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Foreign exchange

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date.

The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate).

Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for:

1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above); 2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and

3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity.

28

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

Fund structure

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

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

29

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

30

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

3 Income from donations and legacies Income from donations and legacies
Unrestricted
funds Total Total
General 2022 2021
£ £ £
Donations and legacies;
Gift aid reclaimed 9,735 9,735 18,412
Regulargivingand capital donations 1,803 1,803 2,230
11,538 11,538 20,642
4 Income from charitable activities
Unrestricted
funds Restricted Total Total
General funds 2022 2021
£ £ £ £
Upcycled Furniture 75,965
130,688		 206,653 161,814

5 Investment income

Unrestricted
funds Total
General funds
£ £
Interest receivable and similar income;
Interest receivable on bank deposits 86 86
Total for 2022 86 86

6 Other income

Unrestricted
funds Total Total
General 2022 2021
£ £ £
COVID-19 Grants 31,554
31,554
34,816

7 Expenditure on charitable activities

Unrestricted
funds
Restricted
Total
Total
General
funds
2022
2021
£
£
£
£
Upcycled furniture 60,616
75,632
136,248
115,743
Staff costs 30,867
55,056
85,923
83,319
Governance costs 9,573
-
9,573
6,213
101,056
130,688
231,744
205,275

31

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

In addition to the expenditure analysed above, there are also governance costs of £9,573 (2021 - £6,213) which relate directly to charitable activities. See note 9 for further details.

8 Other expenditure

Unrestricted
funds
Restricted
Total
Total
Note General
funds
2022
2021
£
£
£
£
Depreciation, amortisation and
other similar costs		 807
1,999
2,806
4,195
807
1,999
2,806
4,195

9 Analysis of governance and support costs

9
Analysis of governance and support costs
Unrestricted
Governance costs funds Total Total
General 2022 2021
£ £ £
Independent examiner and other professional fees
Examination of the financial statements 3,178 3,178 3,178
Other feespaid to examiners 6,395 6,395 3,035
9,573 9,573 6,213
10
Net incoming resources for the year include:
2022 2021
£ £
Depreciation of fixed assets 2,806
4,195

11 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses from the charity during the year.

12 Staff costs

The aggregate payroll costs were as follows:

2022
2021
£
£
Staff costs during the year were:
Wages and salaries 80,604
77,512
Social security costs 3,462
3,060
Pension costs 1,857
1,763
Other staff costs -
983
85,923
83,318

32

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

2022
2021
No
No
Employees 3
3

No employee received emoluments of more than £60,000 during the year.

13 Taxation

The charity is a registered charity and is therefore exempt from taxation.

14 Tangible fixed assets

14
Tangible fixed assets		 14
Tangible fixed assets
Furniture and
equipment
£
Motor vehicles
£
Total
£
Cost
At 1 April 2021
4,094
23,962
28,056
At 31 March 2022
4,094
23,962
28,056
Depreciation
At 1 April 2021
3,251
14,558
17,809
Charge for theyear
456
2,351
2,807
At 31 March 2022
3,707
16,909
20,616
Net book value
At 31 March 2022
387
7,053
7,440
At 31 March 2021
843
9,404
10,247
15
Debtors
2022
2021
£
£
Trade debtors 48
184
Prepayments 21,125
1,175
Other debtors 500
-
21,673
1,359
16
Cash and cash equivalents
2022
2021
£
£
Cash on hand 432
168
Cash at bank 199,427
172,373
199,859
172,541

33

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

17 Creditors: amounts falling due within one year

2022 2021 2021
£ £
Other creditors 16,670 19,170
Accruals 102,107 70,063
118,777 89,233
18
Funds
Balance at 1 Incoming Resources Balance at 31
April 2021 resources expended March 2022
£ £ £ £
Unrestricted funds
General
General Funds A 86,916 119,143 (101,863) 104,196
Restricted funds
HCF Rowlandson - 28,700 (28,700) -
John Arthorp 2,284 - (571) 1,713
Henry Smith Charity - 7,500 (7,500) -
Clothworkers Foundation 5,714 - (1,428) 4,286
Garfield Weston - 20,000 (20,000) -
Postcode Neighbourhood - 11,670 (11,670) -
Clutterbuck Trust - 1,000 (1,000) -
TNL community fund - 30,568 (30,568) -
PHE Contract - 6,000 (6,000) -
HCC Grant - 17,250 (17,250) -
WHBC - 8,000 (8,000) -
Total restricted funds 7,998 130,688 (132,687) 5,999
Total funds 94,914 249,831 (234,550) 110,195
Balance at 1 Incoming Resources Balance at 31
April 2020 resources expended March 2021
£ £ £ £
Unrestricted funds
General
General Funds A 50,149 96,588 (59,821) 86,916
Restricted
Councillors Locality Budget Scheme 1,000 - (1,000) -
Hertfordshire PCC Grant 5,798 7,800 (13,598) -
John Arthorp 3,046 - (762) 2,284
Henry Smith Charity 7,500 22,500 (30,000) -
Clothworkers Foundation 7,619 - (1,905) 5,714
Welwyn Hatfield Council - 51,082 (51,082) -

34

The Recover Team Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2022

Balance at 1
April 2020
£
Incoming
resources
£
Resources
expended
£
Balance at 31
March 2021
£		 Balance at 1
April 2020
£
Incoming
resources
£
Resources
expended
£
Balance at 31
March 2021
£
Lloyds Bank Foundation
1,576
-
(1,576)
-
Garfield Weston
11,667
-
(11,667)
-
High Sheriff Award
1,000
-
(1,000)
-
Baring Foundation
-
12,000
(12,000)
-
Postcode Neighbourhood
-
8,330
(8,330)
-
HCF Rowlandson's
-
16,742
(16,742)
-
Total restricted funds
39,206
118,454
(149,662)
7,998
Total funds
89,355
215,042
(209,483)
94,914
19
Analysis of net assets between funds
Unrestricted
funds
Restricted
Total funds at 31
March
General
funds
2022
£
£
£
Tangible fixed assets 1,443
5,997
7,440
Current assets 214,532
7,000
221,532
Current liabilities (111,777)
(7,000)
(118,777)
Total net assets 104,198
5,997
110,195
Unrestricted
funds
Restricted
Total funds at 31
March
General
funds
2021
£
£
£
Tangible fixed assets 2,250
7,997
10,247
Current assets 154,730
19,170
173,900
Current liabilities (70,063)
(19,170)
(89,233)
Total net assets 86,917
7,997
94,914
20
Analysis of net funds
At 1 April 2021
Financing cash
flows
At 31 March
2022

£
£
£
Cash at bank and in hand 172,541
27,318
199,859
Net debt 172,541
27,318
199,859
At 1 April 2020
Financing cash
flows
At 31 March
2021

£
£
£
Cash at bank and in hand 82,834
89,707
172,541
Net debt 82,834
89,707
172,541

35

The Recover Team Report of the Trustees and Annual Accounts

Statement of Financial Activities by fund for the Year Ended 31 March 2022

Unrestricted Funds

Unrestricted Funds
Total
Total
Unrestricted
Unrestricted
Funds
Funds
2022
2021
£
£
Income and Endowments from:
Donations and legacies 11,538
20,642
Charitable activities 75,965
41,130
Investment income 86
-
Other income 31,554
34,816
Total income 119,143
96,588
Expenditure on:
Charitable activities (101,056)
(58,290)
Other expenditure (807)
(1,529)
Total expenditure (101,863)
(59,819)
Net income 17,280
36,769
Net movement in funds 17,280
36,769
Reconciliation of funds
Total funds brought forward 86,916
50,147
Total funds carried forward 104,196
86,916

36

The Recover Team Report of the Trustees and Annual Accounts

Statement of Financial Activities by fund for the Year Ended 31 March 2022

Restricted Funds

Restricted Funds
Total
Total
Restricted
Restricted
Funds
Funds
2022
2021
£
£
Income and Endowments from:
Charitable activities 130,688
118,454
Total income 130,688
118,454
Expenditure on:
Charitable activities (130,688)
(146,996)
Other expenditure (1,999)
(2,666)
Total expenditure (132,687)
(149,662)
Net expenditure (1,999)
(31,208)
Net movement in funds (1,999)
(31,208)
Reconciliation of funds
Total funds brought forward 7,998
39,206
Total funds carried forward 5,999
7,998

37

Final Audit Report 2022-12-21

Annual Accounts & Trustees Report 2022

Created: 2022-12-20 By: Chris Drinkwater (chris@rspartnership.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAdqOzFeC1uWbbiqeS-jnao79qmkAfVj9K

"Annual Accounts & Trustees Report 2022" History

Document created by Chris Drinkwater (chris@rspartnership.co.uk)

2022-12-20 - 10:36:43 AM GMT- IP address: 46.249.201.71

Document emailed to huw@recoverteam.co.uk for signature

2022-12-20 - 10:40:44 AM GMT

Email viewed by huw@recoverteam.co.uk

2022-12-20 - 4:46:14 PM GMT- IP address: 66.249.93.89

Signer huw@recoverteam.co.uk entered name at signing as HJP Thomas

2022-12-21 - 10:40:27 AM GMT- IP address: 86.173.95.109

Document e-signed by HJP Thomas (huw@recoverteam.co.uk)

Signature Date: 2022-12-21 - 10:40:29 AM GMT - Time Source: server- IP address: 86.173.95.109

Agreement completed.

2022-12-21 - 10:40:29 AM GMT