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← The Recover Team Limited

2025-03-31-accounts

The Recover Team Limited Report of the Trustees and Annual Accounts

Annual Report and Accounts

Year ended: 31[st ] March 2025 Charity Number: 1167218

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The Recover Team Limited Report of the Trustees and Annual Accounts

Contents:

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Trustees' Report 3-18
Independent Examiner's Report 19
Statement of Financial Activities 20
Balance Sheet 21
Notes to the Financial Statements 22-30
Statement of Financial Activities 31
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The Recover Team Limited Report of the Trustees and Annual Accounts

TRUSTEES Huw John Phillip Thomas Susan Valerie Johnson Matthew William Buckley Anne Pritchard 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 CHIEF EXECUTIVE & FOUNDER Ian Block INDEPENDENT EXAMINER ACCOUNTANTS RS Partnership Ltd 10 Prospect Place Welwyn Hertfordshire AL6 9EN BANKERS Metro Bank 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 31st March 2025. 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 Limited Report of the Trustees and Annual Accounts

TRUSTEES

Statement from our Founder and CEO

As we reflect on another year, I am incredibly proud of the progress Recover has made and the impact we continue to have in our community. Our dedicated team of staff, volunteers, and participants have worked tirelessly to advance our mission and support those who need us most. The challenges of the past year have only strengthened our resolve to foster a welcoming, supportive environment where everyone can thrive and reach their full potential. Thank you to everyone who has contributed to our success your commitment and passion are the foundation of everything we achieve together.

Recover would like to acknowledge the following, along with the fantastic financial support, we greatly appreciate the opportunities we have had to deepen and strengthen relationships with:

Board of Trustees

Recover is privileged to have an exceptional board of trustees, all volunteering their time and contributing significantly to our project. They all live locally, are dynamic, experienced and always on hand to support us.

The Board meets bi-monthly to review financial performance and outcomes, update policies, and discuss and agree future plans. All Trustees have completed Safeguarding training. They are all local residents who are very hands-on and regular visitors to the workshop.

Huw Thomas; Chair . An entrepreneur who has built several successful businesses in the insurance industry, Huw has spent the last few years focusing on helping local businesses, not-for profit, and community organisations to succeed.

Alongside his extensive business experience and local connections, as a Henley Business School accredited executive coach and mentor Huw brings a valuable breadth of knowledge and experience to Recover.

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The Recover Team Limited Report of the Trustees and Annual Accounts

Matthew Buckley; Treasurer . Matthew has had a varied career in Commercial Banking, Accountancy, Secondary School and latterly setting up and running a Domiciliary Care Company. Math’sbP) Teaching

A fully qualified Certified Accountant and fully qualified Teacher, Matthew brings to Recover a wealth of financial and commercial experience and an understanding of the importance of supporting the vulnerable and less fortunate.

Sue Johnson. Sue was a Senior Buyer for Tesco Stores for 25 years. Following medical retirement, she has used her commercial skills to support local charities to raise funds. Sue has been the volunteer Fundraiser for Recover for the past 7 years, spending 1 day/week at the workshop.

During this time, she has gained a real understanding of the organisation, got to know many participants, and seen first-hand how they benefit from the project.

Anne Pritchard . Anne joined the Board in 2023. Anne has been a participant at Recover for 7 years. She was referred to Recover from the Living Room, following treatment for alcohol dependency.

and feedback are represented at Board meetings and shape our plans.

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The Recover Team Limited Report of the Trustees and Annual Accounts

OBJECTIVES AND ACTIVITIES

Mission

, environment where vulnerable adults are empowered, trained, and supported in transforming unwanted furniture into 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.

Our Project

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. 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; repairing, sanding, measuring, cutting, sewing, painting and finishing before learning about pricing and marketing.

Along with nationally recognised and accredited qualifications, Recover also has its own 'Skills and Competencies' workbook. Through this program volunteers will learn up to 30 different transferable 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 increases in confidence, self-esteem, feelings of selfworth and general wellbeing. These 'softer' outcomes are , which we license from Triangle Consulting and have received training to use. Holly, the manager works with the participants and keeps their individual Stars updated and generates reports that are helpful for everyone.

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.

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The Recover Team Limited Report of the Trustees and Annual Accounts

Needs we are addressing

Recover supports vulnerable, disadvantaged adults affected by mental health issues linked to substance abuse, alcoholism, a criminal record, homelessness, domestic abuse or being a victim of crime, who are hardest to reach, excluded from society and furthest from employment.

In most cases our participants have multiple issues and complex needs. All have a degree of mental health difficulties. Typically, participants are referred with one presenting issue, but over time it often becomes clear that the route of their issues is more complex for example, a history of domestic abuse, which they may disclose later.

The following table demonstrates the referring issues for 76 participants over financial year 2024/25.

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Mental Drug & Criminal Victim of Vulnerably Refugee
Referring Health Alcohol Justice Abuse Housed
Issue Number 75 59 30 37 47 3
% 99% 78% 39% 48% 61% 4%
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We have identified a critical risk for people who are in recovery from mental health issues and addictions; as they near the end of treatment programmes, the support they have come to rely on is suddenly withdrawn. Suddenly, finding themselves alone, now focusing on other problems that had been obscured whilst concentrating on treatment (e.g. unemployment, debt, poor relationships) and finding these overwhelming, they become isolated and vulnerable. Unable to cope with these problems by themselves, they are at risk of lapsing back into addiction, or another cycle of mental health issues.

Public benefit

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

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The Recover Team Limited Report of the Trustees and Annual Accounts

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In the past year (to end March 2025), 76 participants have attended Recover: 18 are current participants 58 have moved on

The following tables illustrate the demographic profile of our 76 participants over the past year:

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Male Female Non Binary
Gender Number 32 43 1
% 42% 57% 1%
BAME White White
British Other
Ethnicity
Number 12 61 3
% 16% 80% 4%
20's 30's 40's 50's 60's
Age Number 15 19 20 18 4
% 20% 25% 26% 24% 5%
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When compared to the profile last year, there is a higher proportion of males (42% this year to 21% last year).

In most cases our team have multiple issues. Nearly all have a degree of mental health difficulties. Typically, participants are referred with one presenting issue, but over time it becomes clear that the route of their issues is more complex. Most participants have more than one challenge the previous table illustrates the referring issues for our participants.

We have had more referrals this year from the Community Mental Health Team. It can be helpful to receive referrals from this team, since they often have a more in-depth understanding of the challenges of each individual. For example, if someone is referred directly from substance misuse treatment, we may not discover until later that they are also paranoid schizophrenic or are a survivor of domestic abuse. The CMHT have visibility of these multiple issues, so we are aware at the point of referral. In many cases, people have been service users of several agencies prior to a referral from the CMHT for example, CGL for prescribing and Resolve for counselling.

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The Recover Team Limited Report of the Trustees and Annual Accounts

Referral Source:

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Referral Agency Number
BBO (Building Better Opportunities) 1
CGL (Change Grow Live) 2
Community Mental Health Team 17
Druglink 10
Emmaus 9
The Living Room 7
Probation Services 1
Resolve 2
Self-referral 6
Emerging Futures 4
Herts Young Homeless 1
Jubilee Trust 1
Nine Lives 3
Peabody Trust 1
RTS Healthcare 1
Safer Places (Druglink) 6
Step to Skills 2
Welwyn Hatfield CVS 2
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Training and qualifications

In the last year:

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The Recover Team Limited Report of the Trustees and Annual Accounts

Outputs:

Over the past year, 58 people have moved on from Recover:

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Engaged Moved on
Status
18 58
N/A Employment Volunteering Training/ Refer Back Refer On Maternity Moved Away/ Other
Outcome Education Personal
18 17 4 4 17 5 3 5 3
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Of the 58 people who have moved on, 25 have progressed to employment, education, or training. This year Recover has found it necessary to refer a higher proportion of participants back to their referral agency than in previous periods. There are two reasons for this:

We have been more flexible in our approach. We want to give as many people as possible the opportunity to benefit from activities at Recover, so have relaxed our criteria (still maintaining the - requirement that people need to be abstinent and stable). This rate.

Support workers refer their clients to us in good faith. However, realistically, they tend to have very little time to spend with the clients contact time can be as little as a monthly meeting. When these participants join Recover, they spend many hours with us and often attend several days a week. Through this closer contact issues and challenges become more apparent. These may transpire to be severe and beyond our skills and remit.

We always maintain contact with the referring agency and ensure that the individual is referred back into a service that better meets their needs at this point in their recovery. We are happy to welcome them back to Recover once they are ready.

learning disability).

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The Recover Team Limited Report of the Trustees and Annual Accounts

Outcomes

We use the Outcomes Star model to measure and record the progress that our participants make over time across a range of outcomes. Outcomes Star measures progress between the first (baseline) Star completed whilst attending a taster day and subsequent Stars completed every 3-6 months. Over the last year, 94 Stars were completed for 52 service users. The following table summarises these outcomes.

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1st April 2024 - 31st March Baseline to 2nd 2nd to 3rd
2025 Improve Maintain Decline Improve Maintain Decline
Managing mental health 71% 18% 12% 46% 45% 9%
Physical health 53% 32% 15% 37% 45% 18%
Living skills 62% 32% 6% 59% 36% 5%
Friends & community 68% 29% 3% 64% 32% 5%
Use of time 91% 6% 3% 73% 23% 5%
Relationships 65% 35% 0% 41% 50% 9%
Addictive behaviour 83% 15% 2% 77% 23% 0%
Home 82% 18% 0% 41% 50% 9%
Identity & self-esteem 82% 15% 3% 59% 36% 5%
Trust & hope 88% 12% 0% 50% 50% 0%
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The Recover Team Limited Report of the Trustees and Annual Accounts

It is very pleasing to see the significant improvements which are recorded by participants particularly around mental health, identity and self-esteem, use of time, and trust and hope. The fact that these scores are maintained or improve further in the second time period is rewarding.

78% of participants have experienced drug and/or alcohol dependencies. They transition to Recover as they complete treatment programmes to sustain their progress and recovery. This means that high scores for ‘maintain’ are really important for the ‘addictive behaviour’ outcome, which is shown in the table.

Physical health is an area with less impressive outcomes. Whilst focusing on abstinence and their mental health, people tend to be very inactive. When they join Recover, they experience a change in lifestyle becoming much more physically active. This can lead to aches and pains and reveal other issues E.g. joint problems.

The bar chart below illustrates where participants consider they are on their journey of change. They grade each outcome from ‘stuck’ (dark red) through ‘accepting help’, believing and trying’, to - ‘learning’ and ultimately ‘self reliance’ (blue). The stand -out result here is for addictive behaviour, but it is also pleasing to see that noone considers themselves to be ‘stuck’ in regard to mental health.

Environmental impact

We are firmly committed to minimizing our environmental impact and continue to make changes to reduce our carbon footprint. We have swapped both our electricity and gas supply to fixed-term green energy contracts. We recently attended an Environmental Sustainability webinar delivered by Herts Community Foundation and will continue to seek opportunities to make further improvements.

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The Recover Team Limited Report of the Trustees and Annual Accounts

Case Studies and Testimonials

Testimonial

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The Recover Team Limited Report of the Trustees and Annual Accounts

~~aeee~~ Case Study: ~~Male30°85~~ Currently living in Hatfield in an Emerging Futures HMO We first met JT whilst presenting at The Living Room in St. Albans where he was being supported for his drug addiction in 2023. He had not long been in treatment and was engaged with the 5 day per week program that they provide. He showed a lot of interest in our presentation and had several questions.

Nearly one year later we were back at The Living Room in St. Albans presenting again where JT was also present and showed much interest as per previous visit.

Several months later he came to the workshop in person with a group from The Living Room for a firsthand look. Then again 2 months later on another visit with a group, for a short afternoon gilding workshop session.

It was the following month his support worker contacted us to refer him for a taster session. Now ten weeks in as a member of the core team JT has made a great impression with his dynamic energy, enthusiasm to learn and willingness to help on collections and deliveries.

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The Recover Team Limited Report of the Trustees and Annual Accounts

We explained the Peer Role program to him and asked if he would like to consider this. He said that he was about to graduate from The Living Room and it was fantastic timing and a fantastic opportunity. He started the Peer Role on 1[st] April. At the moment he has very good potential for the full-time workshop assistant position we are interested in recruiting but we are not going to mention this opportunity at the moment, being mindful about anxiety and too much too soon. Nevertheless, in the meantime Holly will be paying a lot of attention to him and giving him plenty of mentoring and training so we can gauge his suitability for both him and for Recover.

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The Recover Team Limited 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 another year of continuous hard work, dedication, and enthusiasm with her support for Recover. excellent applications. She is integral in the developing of relationships with our current funders along with potential new opportunities and income diversification strategies.

A big thank you to our Funders, who along with the financial support have also allowed us to develop relationships with them and opportunities to secure multi-year grants for core costs.

Income from Sales and Activities

Sales of our up-cycled furniture continue to achieve and exceed budget forecasts and are spread across a wide range of outlets:

Due to the bespoke nature and style of our products, random and spontaneous and therefore prudent to have a good range of potential outlets for the items.

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The Recover Team Limited 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 £143,000 of which £142,979 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 charity 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 focused on both financial and non-financial risks (e.g., arising from fire, health, and safety).

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:

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The Recover Team Limited Report of the Trustees and Annual Accounts

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 2[nd] December 2025 and signed on its behalf by:

Huw John Phillip Thomas Chair of the Board of Trustees

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The Recover Team Limited Report of the Trustees and Annual Accounts

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

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under sectio n 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.

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 10 Prospect Place Welwyn Hertfordshire AL6 9EW

2 December 2025

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Report of the Trustees and Annual Accounts

Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses
Note Unrestricted
Restricted
Total
funds
funds
2025
£
£
£
Income and Endowments from:
Donations and legacies
3		 28,101
-
28,101

Charitable activities
4		 61,894
149,256
211,150
Investment income
5		 8,725
-
8,725
Total income 98,720
149,256
247,976
Expenditure on:
Charitable activities
6		 (83,880)
(149,256)
(233,136)
Other expenditure
7		 (5,223)
(1,684)
(6,907)
Total expenditure (89,103)
(150,940)
(240,043)
Net income/(expenditure) 9,617
(1,684)
7,933
Net movement in funds 9,617
(1,684)
7,933
Reconciliation of funds
Total funds brought forward 133,362
6,734
140,096
Total funds carriedforward
17		 142,979
5,050
148,029
Note Unrestricted
Restricted
Total
funds
funds
2024
£
£
£
Income and Endowments from:
Donations and legacies
3		 19,936
-
19,936

Charitable activities
4		 75,734
173,067
248,801
Investment income
5		 4,667
-
4,667
Total income 100,337
173,067
273,404
Expenditure on:
Charitable activities
6		 (87,436)
(173,067)
(260,503)
Other expenditure
7		 (6,745)
(2,244)
(8,989)
Total expenditure (94,181)
(175,311)
(269,492)
Net income/(expenditure) 6,156
(2,244)
3,912
Net movement in funds 6,156
(2,244)
3,912
Reconciliation of funds
Total funds brought forward 127,206
8,978
136,184
Total funds carried forward
17		 133,362
6,734
140,096

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17.

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Report of the Trustees and Annual Accounts

Balance Sheet as at 31 March 2025

Balance Sheet as at 31 March 2025
Note 2025
2024
£
£
Fixed assets
Tangible assets
13		 20,063
26,969

Current assets
Debtors
14		 20,032
19,761
Cash at bank and in hand
15		 289,344
262,322
309,376
282,083
Creditors: Amounts falling due within one year
16		 (181,410)
(168,956)
Net currentassets 127,966
113,127
Net assets 148,029
140,096
Funds of the charity:
Restricted income funds
Restricted funds
17		 5,049
6,734
Unrestricted income funds
Unrestricted funds 142,980
133,362
Total funds
17		 148,029
140,096

For the financial year ending 31 March 2025 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 were approved by the trustees, and authorised for issue on 2 December 2025 and signed on their behalf by:

......................................... Mr Huw John Phillip Thomas Trustee

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Report of the Trustees and Annual Accounts

Notes to the Financial Statements for the Year Ended 31 March 2025

1 Charity status

The charity is limited by share capital, incorporated in England. 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 2 December 2025.

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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

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.

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.

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 charg 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.

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Report of the Trustees and Annual Accounts

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

audit, strategic management and trustees 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 £250.00 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:

Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the
over their expected useful economic life as follows:		 cost or valuation, less any estimated residu
Asset class Depreciation method and rate
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% straight line

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.

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Report of the Trustees and Annual Accounts

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.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees 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.

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.

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Report of the Trustees and Annual Accounts

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.

(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.

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Report of the Trustees and Annual Accounts

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.

3 Income from donations and legacies

Unrestricted
funds Total Total
General 2025 2024
£ £ £
Donations and legacies;
Gift aid reclaimed 18,732 18,732 19,060
Regular giving and capital donations 9,369 9,369 876
28,101 28,101 19,936

4 Income from charitable activities

4
Income from charitable activities
Unrestricted
funds Restricted Total Total
General funds 2025 2024
£ £ £ £
UpcycledFurniture
61,894
149,256
211,150
248,801

5 Investment income

Unrestricted
funds
Total
General
funds
£
£
Interest receivable and similar income;
Interest receivable on bank deposits 8,725
8,725
Total for 2025 8,725
8,725
Total for 2024 4,667
4,667

6 Expenditure on charitable activities

Unrestricted
funds
Restricted
Total
Total
General
funds
2025
2024
£
£
£
£
Upcycled furniture 77,084
68,957
146,041
142,352

Staff costs		 -
80,299
80,299
94,227
Goverance costs 6,796
-
6,796
6,423
83,880
149,256
233,136
243,002
7
Other expenditure
Unrestricted
funds
Restricted
Total
Total
General
funds
2025
2024
£
£
£
£
Depreciation, amortisation
and other similar costs		 5,223
1,684
6,907
8,989
5,223
1,684
6,907
8,989

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The Recover Team Limited

Report of the Trustees and Annual Accounts

8 Analysis of governance and support costs

Unrestricted
funds
Total		 Total
General
2025		 2024
£
£		 £
Independent examiner and other professional fees
Examination of the financial statements 3,197 3,197 3,178
Other fees paid to examiners 2,734 2,734 3,246
Marketing and publicity 865 865 5,947
6,796 6,796
12,371

9 Net incoming/outgoing resources

Net incoming resources for the year include:

Net incoming resources for the year include:
2025 2024
£ £
Depreciationof fixed assets
6,907
8,989

10 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.

11 Staff costs

The aggregate payroll costs were as follows:

2025
2024
£
£
Staff costs during the year were:

Wages and salaries		 92,550
88,587

Social security costs		 2,908
3,540

Pension costs		 1,891
2,100
97,349
94,227

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

during the year expressed as full time equivalents was as follows:
2025
2024
No
No
Employees 2
3

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

12 Taxation

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

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The Recover Team Limited

Report of the Trustees and Annual Accounts

13 Tangible fixed assets
Furniture and
equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2024 4,094 52,294 56,388
Disposals (4,094) - (4,094)
At 31 March 2025 - 52,294 52,294
Depreciation
At 1 April 2024 3,876 25,543 29,419
Charge for the year - 6,688 6,688
Eliminated on disposals (3,876) - (3,876)
At 31 March 2025 - 32,231 32,231
Net book value
At 31 March 2025 - 20,063 20,063
At 31 March 2024 218 26,751 26,969
14 Debtors
2025 2024
£ £
Trade debtors (445) 556
Prepayments 20,477 19,205
20,032 19,761
15 Cash and cash equivalents
2025 2024
£ £
Cash on hand 466 822
Cash at bank 288,878 261,500
289,344 262,322
16 Creditors: amounts falling due within one year
2025 2024
£ £
Other creditors 120,309 142,243
Accruals 61,101 26,713
181,410 168,956

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The Recover Team Limited

Report of the Trustees and Annual Accounts

17 Funds

17
Funds
Balance at 1
Incoming
Resources
Balance at 31
April 2024

resources
expended
March 2025

£
£

£
£
Unrestricted funds
General
General Funds A 133,362
98,720
(89,103)
142,979
Restricted funds
John Arthorp 4,322
-
(1,081)
3,241
Clothworkers Foundation 2,412
-
(603)
1,809
Henry Smith Charity -
40,000
(40,000)
-
Garfield Weston -
15,000
(15,000)
-
TNL community fund -
48,146
(48,146)
-
HCC Grant -
46,110
(46,110)
-
Total restricted funds 6,734
149,256
(150,940)
5,050
Total funds 140,096
247,976
(240,043)
148,029
Balance at 1
Incoming
Resources
Balance at 31
April 2023

resources
expended
March 2024

£
£

£
£
Unrestricted funds
General
General Funds A 127,206
100,337
(94,181)
133,362
Restricted
John Arthorp 5,763
-
(1,441)
4,322
Clothworkers Foundation 3,215
-
(803)
2,412
HCF Rowlandson -
30,000
(30,000)
-
Henry Smith Charity -
35,000
(35,000)
-
Garfield Weston -
15,000
(15,000)
-
High Sheriff award -
1,500
(1,500)
-
TNL community fund -
35,291
(35,291)
-
HCC Grant -
41,783
(41,783)
-
WHBC -
14,493
(14,493)
-
Total restricted funds 8,978
173,067
(175,311)
6,734
Total funds 136,184
273,404
(269,492)
140,096

18 Analysis of net assets between funds

18 Analysis of net assets between funds
Unrestricted
funds
Restricted
Total funds at 31
March
General
funds
2025
£
£
£
Tangible fixed assets 15,014
5,049
20,063

Current assets		 309,376
-
309,376
Current liabilities (181,410)
-
(181,410)
Total net assets 142,980
5,049
148,029
Unrestricted
funds
Restricted
Total funds at 31
March
General
funds
2024
£
£
£
Tangible fixed assets 20,236
6,733
26,969
Current assets 282,083
-
282,083
Current liabilities (168,956)
-
(168,956)
Total net assets 133,363
6,733
140,096

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Report of the Trustees and Annual Accounts

19
Analysis of net funds
At 1 April 2024
Financing cash
flows
At 31 March
2025

£
£
£
Cash at bank and in hand 262,322
27,022
289,344
Net debt 262,322
27,022
289,344
At 1 April 2023
Financing cash
flows
At 31 March
2024

£
£
£
Cash at bank and in hand 212,154
50,168
262,322
Net debt 212,154
50,168
262,322

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The Recover Team Limited

Report of the Trustees and Annual Accounts

Statement of Financial Activities by fund for the Year Ended 31 March 2025

Unrestricted Funds

Unrestricted Funds
Total
Total
Unrestricted
Unrestricted
Funds
Funds
2025
2024
£
£
Income and Endowments from:
Donations and legacies 28,101
19,936
Charitable activities 61,894
75,734
Investment income 8,725
4,667
Total income 98,720
100,337
Expenditure on:
Charitable activities (83,880)
(87,436)
Other expenditure (5,223)
(6,745)
Total expenditure (89,103)
(94,181)
Net income 9,617
6,156
Net movement in funds 9,617
6,156
Reconciliation of funds
Total funds brought forward 133,362
127,206
Total funds carried forward 142,979
133,362

Restricted Funds

Restricted Funds
Total
Total
Restricted
Restricted
Funds
Funds
2025
2024
£
£
Income and Endowments from:
Charitable activities 149,256
173,067
Total income 149,256
173,067
Expenditure on:
Charitable activities (149,256)
(173,067)
Other expenditure (1,684)
(2,244)
Total expenditure (150,940)
(175,311)
Net expenditure (1,684)
(2,244)
Net movement in funds (1,684)
(2,244)
Reconciliation of funds
Total funds brought forward 6,734
8,978
Total funds carried forward 5,050
6,734

31