Registered number: 1177557 Charity number: 1177557 ## TCL RE-USE (A Charitable Incorporated Organisation) ## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TCL REUSE (A CIO) CONTENTS ||Page| |---|---| |Reference and Administrative Details of the Charity, its Trustees and Advisers|1| |Trustees' Report|2| |Independent Examiner's Report|8| |Statement of Financial Activities|10| |Balance Sheet|11| |Notes to the Financial Statements|12| TCL REUSE (A CIO) ## REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Christopher Gerrard Coughlan David John Tarr John Jason W Henry Company registered number CE013539 Charity registered number 1177557 Registered office TCL Reuse Centre Unit 1, 330 – 348 Uphall Road Ilford, Essex IG1 2JJ Accountants FP Associates Limited 36A Goodmayes Road Ilford Essex IG3 9UR Page 1 TCL REUSE (CIO) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** The Trustees present their annual report together with the financial statements of the company for the 1 April 2023 to 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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) as amended by Update Bulletin 1 (effective 1 January 2015). The company is a registered Charitable Incorporated Organisation (CIO) TCL REUSE charity (CIO) number 1177557 ## **OBJECTIVES AND ACTIVITIES** ## **Activities for achieving objectives** The activities adopted in furtherance of these objects are: - To collect useable second hand furniture, white goods for free to be able to divert them from landfill. Make saleable either through refurbishment, repair, cleaning and/or testing the collected second hand goods. - To sell at an affordable price the second hand goods to the general public, to be able to cover the majority of the operating costs to make the project self-sustaining. - Pricing is designed to drive volume ahead of profitability to prioritize recycling. - To wherever possible donate directly or through referral from government agencies or other charities the second hand goods to those in need or being rehoused. - To employ staff who empathize with the charities objectives and are committed to the environmental and social objectives. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. More information on the charity can be found on our website https://www.tclreuse.org/ ## **Activities** The agreed rent that the TCL Reuse project would pay Teen Challenge London for the use of the building (Unit 1, 330-348 Uphall Road) is currently a monthly amount of £5,000 which started 1st January 2021. Page 2 TCL REUSE (CIO) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 ## **ACHIEVEMENTS AND PERFORMANCE** ## **Key financial performance indicators** Income from shop sales have remained consistent as have eBay sales and house clearances. The decision was taken to install a lift so that staff would be able to larger items such as beds & mattresses without having to rely on extra help. Work was started in January. It was decided to open a coffee shop in Drayton which would help provide work experience to men on the Teen Challenge programme at the centre in Drayton. It would also work to provide a way of Teen Challenge interacting with the local community. It will provide opportunities for paid and volunteer employment. Men on the rehabilitation program received training in many aspects including: PAT testing, electrical appliance testing, drivers mate, warehouse facilities supervisor, logistics supervisor, & customer services. ## **Council Partnerships** The Council partnerships with Redbridge, Barking & Dagenham, Havering and Waltham Forest continued during 2023/24. ## **Main activities undertaken to further the charity's purposes for the public benefit** The trustees are mindful of their duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. The objectives and activities of the charity are undertaken to further our charitable purposes for the public benefit. ## **Volunteers** TCL REUSE recognises and massively appreciates the hours/days and hard work generously given to us by the growing team of committed volunteers drawn from a wide variety of sources including Teen Challenge, City Gates Church amongst other local churches, local young people, those between jobs, those recovering from health issues and those enjoying retirement but wanting to give something back to the community. The charity’s investment in training its staff and volunteers continues with staff qualifying as first aiders, undertaking portable appliance testing (PAT), fire marshals, as well as refreshers in manual handling and as a reversing assistant. ## **Investment policy and performance** New reserves policies are being developed to guide the organisation’s future investment strategies. Page 3 TCL REUSE (CIO) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 ## **FINANCIAL REVIEW** ## **Going concern** After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. ## **Financial risk management objectives and policies** It is the policy of the charity to protect the organisation as far as possible as is reasonably practical from fraud by staff, service users and members of the general public. In order to minimise its exposure to risk, the charity has specific risk policies in respect of the following areas: - Protection of credit card details - Daily takings & petty cash - Fraudulent use of internet banking - Fraudulent use of company commercial cards - Cash donations - Theft of tools - Client fraud ## **Reserves policy** The trustees plan to maintain free cash reserves at between three and six months of resources expended. TCL REUSE also notes the need to hold an amount in reserve in line with legislation to enable the minimum required payment of redundancy money, should the charity need to close its operations. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Constitution** The company is registered as a CIO and was set up by a Memorandum of Association on, amended to allow for charitable status on 1st April ## **Method of appointment or election of Trustees** The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. There is no limit on the composition of the board of directors who are invited to join the board by the recommendation of the existing board members through their extensive local church and business contacts. Page 4 TCL REUSE (CIO) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 None of the trustees has any beneficial interest in the company. ## **Organisational structure and decision making** The trustee board meets monthly with a break in the summer with a chair appointed by rotation. The trustees at tend all meetings to update the board on activities and help discuss challenges facing the operations. The trustees delegate the majority of the day to day activities and management to the team leaders whilst retaining overall financial control and responsibility for setting policy and maintaining accounting records. ## **Risk management** The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. The trustees have a risk management strategy which comprises: - a regular review of the risks the charity may face; - the establishment of systems and procedures to mitigate those risks in the plan; and - the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. The review keeps a close eye on health and safety as it applies to both employees and customers. The mix of skills and competencies amongst staff of the charity are a key resource that must be continually developed and are considered periodically in the process. The rapid growth in the charity's operations has meant that the financial resources are key to being able to support the growth. A quarterly review of the performance and financial position of the company helps the trustees to manage the position. Dated 29 January 2025 Mr J J W Henry Trustee Page 5 ## **Independent Examiner's Report to the Trustees of TCLREUSE** I report to the charity Trustees on my examination of the accounts of the company for the year ~~ended 31 March 2024.~~ This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. Responsibilities and Basis of Report As the Trustees of the company (and 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 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 the company's accounts 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 Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (ACCA), which is one of the listed bodies. I have completed my examination. I can 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 CIO 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. Dated: 29 January 2025 Fumi Popoola B.Sc FCCA CTA ATT FP Associates Limited 36A Goodmayes Road Ilford Essex IG3 9UR TCL RE-USE CIO Charity No 1177557 Annual accounts for the To end 01h)4r2023 3110312024 Section A Statement of financial activities R••trlct•d UnY••trlct•d Incom• fi￿dI fund• R•¢omm•nd•d ¢•W by actlvlty Prlory••r Total lunds fvnds fund• Incomlng r••oufe•• {Nots 3) F01 F02 F03 F04 F05 423 227 17.937 Total R••ourc•• •xp•nd•d (Not• 6) ExP•r￿lI￿V• *)n: 423 227 225 314 167 089 191724 191724 310 11,774 11,774 35,694 Toi S12 Net In¢om•ll•xp•ndbiur•} t*•forn Inv••tm•nl g•ln•lllosB••) $13 18.484 18.484 N•t Incom•ll•xp•ndlturnl Ex¢r•ordln•ry It•m• Tr*n8l•r• b•twwn lund• Olh8r r•cognl•¢d g•ln•l{losv•): 815 18.484 816 SIT S19 N•t mov•m•nt In lund• R•conGlll¥Uon olfvnds.. Trt•l lundy S21 154.393 154.393 172.877 165018 Tot￿ fvnds c•n¥•d fonv•rd Section B Balance sheet Unmtrl¢t•d Endowm•nt Total thls Totsl l••t funds fvnds lunds y•ar Flxed assets Intsnglblo a$s•ts T4nglbl• 8s#•t$ Hèrttag• a•8èts Inv••tm•nts FOI F02 F03 F04 F05 {Not• 15 {Nole 14 (Not• 16) (Not• 171 Tot•1 Ilxed •sMts 12,079 12.079 27,236 27.236 Current assets Stocks D•btors Inv•stm•nt• (Not• 18) {P401• 19) {Nol• 17.41 Cash al bank and In hand (Not• 24) Toeal ¢uff•nt •s$•ts 23,883 15.152 23.883 15,152 10.747 15,152 121,763 121,763 110,258 810 Crodltors: •mounts lalllng du• wlthln on• y•ar (Not• 20} N•t ¢ury•nt ￿mI￿￿•bIlItI•ll 812 Total •u•ts l•M ¢urnntlAabllftl•• 013 154,393 Credltors: *mount• f*lllng du• aft•r on• y•ar (Not• 201 Provl•lon• for Il•bllltle• 815 Total net •¥$ot¥ or Il•bllltl•* Funds of the Charity ndowTh•nt lund$ (Not• 27) R•strlct•d In¢om• fund•114ot• 271 Unr•$trl¢t•d funds Rfftluatlon t￿0 B16 172.877 172,877 154.393 817 172,877 172.8TI 154,393 Total funds B21 154.393 Signgj by cry trust￿$ of 81 Date ol approv ddl Print Name CC17a IExrAI 3110112025 Note 1 B•81• of pr•p•r•tlan 1.1 Ba818 of accountlng Thèse acLounts have tr￿en prep¥8d undertr* hi8tml c05t cM¥ention wlh rtem6 reo)gniwJ al o)st or transaction unkss Other￿ statsd in the reknant rthl$) to Ilw The accounts h¥ve been prtpar&J in ￿Cord0r￿e Mth.. the Ststemenl of Pr•*A.' and ReF#Jt"ng ty Charit prep81ing their acctyjnts in accwdanc• F￿￿￿￿81 Reporb"ng Stsndard ppplkabl? in the UK and Repubk of Irekqnd IFRS 1￿2) ￿SU¢d 18 2014 ' and *ryth' • and the Fin8nc4al Reru￿ Starthrd appkaNe li the Unied ond Repubk of Ir•LaThJ IFRS 1021 ' 8nd wlth tho Chath¥ A£t 2011. FRS 102.. 1.2 Golnq con¢•rn Mthw• *r• m•twl•l unc•rt4lnts# r•l•t•d ¢0 •v•nts or ¢onthtlon• Ih•tC•8t Ilqnffiunt doubt on th• eh•rfty •blllty to ¢onllnu• •* • ¢one￿, W••Mprovld• lh• lollowlng d•t•ll• orsr•r• "Ilot•ppllc•blo-. M •ppmprl•l•.' An expknatkin 4$ to fadorn tho1 •upwt the conc4uith Ihat the Chartty w*vJ The tharty18 *8 ob￿￿ and 4180 tradkw l• increasry. Ther• ar• Th) mJt•rial unc•rt•knl*8 St￿j1 lh• cMrW atslity to c￿tin￿ #s & wnq conc•m. ol uncertothth8 that make th• Jlng concem 088umptkJn dwbtlul: w￿re accounts afe pMp8r•J on o g(**J con¢em b•sh, please dI8dose fatl logethor with the tl8818 on the Iiuthe pr•p•r•d th• ac(￿nts and Ihe r•aaon I thonty ij ntst rngafd•d a8 o wng ￿rn. 1.3 Ch•ng• of •ccounllng poll¢y The aco)unti w•8•nt a 8ThJ Ilw ad0￿j or• thts￿ ouulned In not• l }. Y•8. PIMi• dl¥¢lo••.' (l) th• n•turn ofth• ¢h•nq• In •ccounllngpoIty. (11) th• r••sons why•ppfying th• n•w •c¢oundrypolky provld•s mor• rellJbl• ¥ndmorn r•l•v•nt Infomwts.. •rnl (111) th• •mountof the adiu$thMnt lorwch lin• aff•¢i•d In th• ¢urr8ntperiod, ••¢h piiorpwiodprns•ftt8d•nd the •ggrng•t• amount ol lh• •(¥uslmont rnI￿Ing CC17a (E￿1> 31K11r2025 Note 3 Analy¥l3 ol Income T•MI fund¥ P￿rY•￿ Don*￿On¥ and 18gKle•: DonalK)n# and Gilt Aid acies Gener￿ grants providèd by ￿0mM￿￿other harilkgs Ntsmb8tship 4￿r￿ShI>S are thatio ilts Donated ood8, lacibties 8ert¢s O¢h•r 422.983 422,983 401.759 Totsl 4T2,983 422,983 405.210 ChirltslJl• ieii¥lllw4: T•tsl Oltr*r tr•dltvJ Ilvlllo•: Oth•r 8.492 Total Inc¢xM from In￿•t￿nts.. Int•ro81 Incomo Diwden(J Income Rental and l&a8in Othèr Totsl m•t•rfal It•m ol In¢om•: Toknl con￿￿￿ ol inlo inctsmè Gwn on disposal of a taTrJible fix8d ass•1 held for chari s usa Gwn on dispos￿ of a K¥ogramn* rdatgd investmenl Royatties Irom th• •WoitathoTh ol int8loctual Olh•r Tol•l TOTAL INCOME 422.983 CC17a l&¥r41 8110112025 No,'ps lo IhE 3¢counls Not• 4 Gp¥•ffffi•nl gr*M 3 hw T• Qo¥•vrffl•nl 3 PIHwprgvl¢Y• drt•lls ol•ny CC17• I￿) 31ffj11ap5 T•knllW Ir¢urr•J se8kiw d(tha￿￿3 IncuFTth*séeknN IncurrwJ qTants OpNAtiwcWlty sh¥s 75.927 144.7e9 urthrtaking wTr¢hvltthl•vwlry èet 12 12 0￿rI￿￿1￿ Invwtm•nl rnaThW￿ c(*ty'. 116.470 21 187.ST3 t8 T•MI Loan R• Bar* c In4wance 11.774 404.743 TOTAL EXPfNorruFIE 404.743 4XI.467 430.467 CC17alExcdl 91Aiir2ro5 Note11 Pald efflplop8s 11.1 Staff Co•ts par L￿1 ￿ar S•l•rb89 •nd w•p* soclal M¢urlty ¢osI$ P•n¥ion co•f• Id•llTh￿ contrllMrtknI Oth•r •rnplo￿ b•n•fits 173.884 7,368 153,257 6,933 1,326 961 162,477 T+)tsl •t*ff ¢o•t• 181.252 Th1• y••r: pt••i• provlde d•talls of •xyndllvr• on •t•ff lor lh• ethafoty Wha￿ ¢onlr•cts •r• wrth •nd •r• p•ld by * r•l•thd Pl••w provld• d•wll• ol •xp•ndlturn ¢)n •tsff wty*lng th• chbrfty who•• conty•¢ts •r• wtth •nd •M pth by * rnl•thd p•rty PI••w glv• d•tsllJ ol th• numb•t oP•fflthws who9• lol•l •mWoy•• b•rnllts (•x¢ludthg •mploy•r p•nslon ¢oJtsJ f•ll wllhln Hch b•nd olE14A￿ Irom UPW•fd& tt th•rn•r• no such tr•nM¢tloN, pl8•J• •nt•r Iru•'ln lh• box prnvldo(1. No ompl0￿M r•c•lved •mpIO￿ l>•r•lll• loxdudlng •fflp1o￿I p•Mlon ¢o•t•) for lh• r•P￿Ing wrlod ol nw• Ih•n £60,000 B•nd Mumber ol Om Th1• L••t £60 000 to É69.999 £70 IXKI to È79,999 £80 ormj to £89,999 £90,000 to E99.999 £100 01)0 to £109.999 LAst PIM•• provlde Ihe totsl •movnt p•ld to k•y m•n•y pw•orwwl (Ine￿deS tru•t••• and senlor m•n•g•menl} for ts￿r 8•Th1¢08 to th? ¢h•rlty. FIX speclk ¥Munl• p•ld to tru•lw& CC17a (Excdl 3110112025 Tothl Ai ol y••r 95.361 t4.472 Di&pcq Trar*f•r8' 14.4ll 8LtyRBIS Al b•oth￿ 80.125 14.47Z 15.157 T14Mlors' 144n •7.7Y 14J F4•t book wl N•t b20k ￿u# ￿ thp b#*rf**<4 h y• Nqt vfii* y4•r 11079 ¢¢17&1￿? 31I0113)25 Registered number: 1177557 Charity number: 1177557 ## TCL RE-USE (A Charitable Incorporated Organisation) ## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TCL REUSE (A CIO) CONTENTS ||Page| |---|---| |Reference and Administrative Details of the Charity, its Trustees and Advisers|1| |Trustees' Report|2| |Independent Examiner's Report|8| |Statement of Financial Activities|10| |Balance Sheet|11| |Notes to the Financial Statements|12| TCL REUSE (A CIO) ## REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Christopher Gerrard Coughlan David John Tarr John Jason W Henry Company registered number CE013539 Charity registered number 1177557 Registered office TCL Reuse Centre Unit 1, 330 – 348 Uphall Road Ilford, Essex IG1 2JJ Accountants FP Associates Limited 36A Goodmayes Road Ilford Essex IG3 9UR Page 1 TCL REUSE (CIO) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** The Trustees present their annual report together with the financial statements of the company for the 1 April 2023 to 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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) as amended by Update Bulletin 1 (effective 1 January 2015). The company is a registered Charitable Incorporated Organisation (CIO) TCL REUSE charity (CIO) number 1177557 ## **OBJECTIVES AND ACTIVITIES** ## **Activities for achieving objectives** The activities adopted in furtherance of these objects are: - To collect useable second hand furniture, white goods for free to be able to divert them from landfill. Make saleable either through refurbishment, repair, cleaning and/or testing the collected second hand goods. - To sell at an affordable price the second hand goods to the general public, to be able to cover the majority of the operating costs to make the project self-sustaining. - Pricing is designed to drive volume ahead of profitability to prioritize recycling. - To wherever possible donate directly or through referral from government agencies or other charities the second hand goods to those in need or being rehoused. - To employ staff who empathize with the charities objectives and are committed to the environmental and social objectives. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. More information on the charity can be found on our website https://www.tclreuse.org/ ## **Activities** The agreed rent that the TCL Reuse project would pay Teen Challenge London for the use of the building (Unit 1, 330-348 Uphall Road) is currently a monthly amount of £5,000 which started 1st January 2021. Page 2 TCL REUSE (CIO) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 ## **ACHIEVEMENTS AND PERFORMANCE** ## **Key financial performance indicators** Income from shop sales have remained consistent as have eBay sales and house clearances. The decision was taken to install a lift so that staff would be able to larger items such as beds & mattresses without having to rely on extra help. Work was started in January. It was decided to open a coffee shop in Drayton which would help provide work experience to men on the Teen Challenge programme at the centre in Drayton. It would also work to provide a way of Teen Challenge interacting with the local community. It will provide opportunities for paid and volunteer employment. Men on the rehabilitation program received training in many aspects including: PAT testing, electrical appliance testing, drivers mate, warehouse facilities supervisor, logistics supervisor, & customer services. ## **Council Partnerships** The Council partnerships with Redbridge, Barking & Dagenham, Havering and Waltham Forest continued during 2023/24. ## **Main activities undertaken to further the charity's purposes for the public benefit** The trustees are mindful of their duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. The objectives and activities of the charity are undertaken to further our charitable purposes for the public benefit. ## **Volunteers** TCL REUSE recognises and massively appreciates the hours/days and hard work generously given to us by the growing team of committed volunteers drawn from a wide variety of sources including Teen Challenge, City Gates Church amongst other local churches, local young people, those between jobs, those recovering from health issues and those enjoying retirement but wanting to give something back to the community. The charity’s investment in training its staff and volunteers continues with staff qualifying as first aiders, undertaking portable appliance testing (PAT), fire marshals, as well as refreshers in manual handling and as a reversing assistant. ## **Investment policy and performance** New reserves policies are being developed to guide the organisation’s future investment strategies. Page 3 TCL REUSE (CIO) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 ## **FINANCIAL REVIEW** ## **Going concern** After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. ## **Financial risk management objectives and policies** It is the policy of the charity to protect the organisation as far as possible as is reasonably practical from fraud by staff, service users and members of the general public. In order to minimise its exposure to risk, the charity has specific risk policies in respect of the following areas: - Protection of credit card details - Daily takings & petty cash - Fraudulent use of internet banking - Fraudulent use of company commercial cards - Cash donations - Theft of tools - Client fraud ## **Reserves policy** The trustees plan to maintain free cash reserves at between three and six months of resources expended. TCL REUSE also notes the need to hold an amount in reserve in line with legislation to enable the minimum required payment of redundancy money, should the charity need to close its operations. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Constitution** The company is registered as a CIO and was set up by a Memorandum of Association on, amended to allow for charitable status on 1st April ## **Method of appointment or election of Trustees** The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. There is no limit on the composition of the board of directors who are invited to join the board by the recommendation of the existing board members through their extensive local church and business contacts. Page 4 TCL REUSE (CIO) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2024 None of the trustees has any beneficial interest in the company. ## **Organisational structure and decision making** The trustee board meets monthly with a break in the summer with a chair appointed by rotation. The trustees at tend all meetings to update the board on activities and help discuss challenges facing the operations. The trustees delegate the majority of the day to day activities and management to the team leaders whilst retaining overall financial control and responsibility for setting policy and maintaining accounting records. ## **Risk management** The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. The trustees have a risk management strategy which comprises: - a regular review of the risks the charity may face; - the establishment of systems and procedures to mitigate those risks in the plan; and - the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. The review keeps a close eye on health and safety as it applies to both employees and customers. The mix of skills and competencies amongst staff of the charity are a key resource that must be continually developed and are considered periodically in the process. The rapid growth in the charity's operations has meant that the financial resources are key to being able to support the growth. A quarterly review of the performance and financial position of the company helps the trustees to manage the position. Dated 29 January 2025 Mr J J W Henry Trustee Page 5 ## **Independent Examiner's Report to the Trustees of TCLREUSE** I report to the charity Trustees on my examination of the accounts of the company for the year ~~ended 31 March 2024.~~ This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. Responsibilities and Basis of Report As the Trustees of the company (and 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 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 the company's accounts 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 Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (ACCA), which is one of the listed bodies. I have completed my examination. I can 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 CIO 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. Dated: 29 January 2025 Fumi Popoola B.Sc FCCA CTA ATT FP Associates Limited 36A Goodmayes Road Ilford Essex IG3 9UR