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2025-03-31-accounts

Charity registration number: 1177557

TCL RE USE TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FP Associates Limited ACCA 36A Goodmayes Road Ilford Essex IG3 9UR

TCL RE USE Contents

Page
Trustees' Report 1—4
Independent Examiner's Report 5
Statement of Financial Activities 6
Statement of Financial Position 7
Statement of Cash Flows 8
Notes to the Statement of Cash Flows 9
Notes to the Financial Statements 10—14
The following pages do not form part of the statutory accounts:
Detailed Statement of Financial Activities 15—16

TCL RE USE Trustees' Report For The Year Ended 31 March 2025

The trustees present their report and the financial statements for the year ended 31 March 2025.

Objectives and Activities

Aims and Objectives

The Trustees present their annual report together with the financial statements of the company for the 1 April 2024 to 31 March 2025. 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 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.

ACHIEVEMENTS AND PERFORMANCE

Key financial performance indicators

Again, income from shop sales have remained consistent as have eBay sales however house clearances have been significantly lower.

Work on the new goods lift was completed in June at a total cost of just over £20,000. It has proved to be a great benefit to the staff.

We received serval grants over the year including two from Redbridge Household Support Fund totalling £20,000 and one from the National Lottery for £20,000.

We purchased two vehicles at a total cost of £40,000. Another standard delivery van and a smaller one.

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.

The new Coffee Shop has done well in that is has managed to make a small profit but has become a good opportunity for men on the programme in Drayton, Norfolk to get work experience as well as a visible presence in the community. It has been well received by the village and has had consistent sales throughout the year.

Council Partnerships

The Council partnerships with Redbridge, Barking & Dagenham, Havering and Waltham Forest continued during the year ended 31 March 2025.

...CONTINUED

Page 1

TCL RE USE Trustees' Report (continued) For The Year Ended 31 March 2025

Aims and Objectives - continued

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. Initial plans are that for one to twelve months will be placed in accounts or in a bond(s) yielding the market rate of return or better but also have sound ethical values.

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:

Reserves policy

The trustees plan to maintain free cash reserves at between three and six months of resources expended which equates to a range of between £50,000 and £100,000 in general funds. At this level, the trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding, allowing a period of time for funding to be replaced. At the balance sheet date, unrestricted funds total £ £57,670.71 which represents approximately 3 months of unrestricted expenditure.

We aim to maintain:

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

...CONTINUED

Page 2

TCL RE USE Trustees' Report (continued) For The Year Ended 31 March 2025

Aims and Objectives - continued

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.

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:

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

Reference and Administrative Details

Trustees

Mr Javier Lesta-Candal Mr John Henry Ms Frances Rogers

Charity Number

1177557

Principal Address

330-348 Uphall Road Ilford Essex IG1 2JJ

Independent Examiner

Fumi Popoola B.Sc FCCA CIOT ATT FP Associates Limited ACCA 36A Goodmayes Road Ilford Essex IG3 9UR

Page 3

TCL RE USE Trustees' Report (continued) For The Year Ended 31 March 2025

The trustees' report was approved by the board of trustees and signed on its behalf by:

Mr Javier Lesta-Candal Trustee 30/01/2026

Page 4

TCL RE USE Independent Examiner's Report to the Trustees of TCL RE USE For The Year Ended 31 March 2025

I report to the trustees on my examination of the accounts of TCL RE USE (the Trust) for the year ended 31 March 2025.

Responsibilities and Basis of Report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's Statement

Since the Trust’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 The Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

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

  3. the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Fumi Popoola B.Sc FCCA CIOT ATT 30/01/2026 36A Goodmayes Road Ilford Essex IG3 9UR

Page 5

TCL RE USE Statement of Financial Activities For The Year Ended 31 March 2025

Notes
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities:
Coffee Shop
Re-Use Centre
Investments
4
Other
5
EXPENDITURE ON:
Raising funds
7
Charitable activities:
7
Coffee Shop
Re-Use Centre
NET INCOME
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
16		 2025
Unrestricted
funds
£
40,360
131,563
421,840
150
9,540		 2024
Unrestricted
funds
£
-
-
423,227
-
-
603,453 423,227
(1)
(152,253)
(387,639)		 -
-
(404,743)
(539,893) (404,743)
63,560 18,484
63,560
172,877		 18,484
154,393
236,437 172,877

The notes on pages 9 to 14 form part of these financial statements.

Page 6

TCL RE USE Statement of Financial Position As At 31 March 2025

Notes
FIXED ASSETS
Tangible Assets
11
CURRENT ASSETS
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: Amounts Falling Due Within One Year
14
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS OF THE CHARITY
Unrestricted Funds
TOTAL FUNDS
16
On behalf of the board
Mr Javier Lesta-Candal
Trustee
30/01/2026		 2025
Unrestricted
funds
£
55,968		 2024
Total
funds
£
12,079
55,968
23,883
80,910
77,455		 12,079
23,883
74,176
62,739
182,248
(1,779)		 160,798
-
180,469 160,798
236,437 172,877
236,437 172,877
236,437 172,877
236,437 172,877

The notes on pages 9 to 14 form part of these financial statements.

Page 7

TCL RE USE Statement of Cash Flows For The Year Ended 31 March 2025

Notes
Cash flows from operating activities
Net cash generated from/(used in) operations
1
Net cash generated from/(used in) operating activities
Cash flows from investing activities
Purchase of tangible assets
Interest received
Net cash used in investing activities
Increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
2
Cash and cash equivalents at end of year
2		 2025
£
72,109
72,109
(57,543)
150
(57,393)
14,716
62,739
77,455		 2024
£
(64,418)
(64,418)
-
-
-
(64,418)
-
(64,418)

Page 8

TCL RE USE Notes to the Statement of Cash Flows For The Year Ended 31 March 2025

1. Reconciliation of income to cash generated from/(used in) operations

.
Reconciliation of income to cash generated from/(used in) operations
Net income
Adjustments for:
Interest income
Depreciation of tangible assets
Movements in working capital:
Increase in stocks
Increase in trade and other debtors
Increase in trade and other creditors
Net cash generated from/(used in) operations		 2025
£
63,560
(150)
13,654
-
(6,734)
1,779
72,109		 2024
£
18,484
-
15,157
(23,883)
(74,176)
-
(64,418)

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

2025
£
Cash at bank and in hand
77,455
.
Analysis of changes in net funds
As at 1 April
2024
Cash flows
£
£
Cash at bank and in hand
62,739
14,716		 2024
£
62,739
As at 31
March 2025
£
77,455

3. Analysis of changes in net funds

Page 9

TCL RE USE Notes to the Financial Statements For The Year Ended 31 March 2025

1. General Information

TCL RE USE is an unincorporated charity registered with the Charity Commission, registered charity number 1177557. The principal address is 330-348 Uphall Road, Ilford, Essex, IG1 2JJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.

The charity is a Public Benefit Entity as defined by FRS 102.

2.2. Incoming Resources

Incoming resources are accounted for on a receivable basis deferred where appropriate.

2.3. Resources Expended

Charitable expenditue includes all expenditure directly related to the objects of the charity and comprises the folowing:

Cost of raising and generating funds

The cost of raising and generating funds comprises of the costs of fundraising activities.

Activities in furtherance of the charity's objectives

The costs of activities in furtherances of the charity's objectives represents the costs of goods and services and ancilliary trading costs that have been incurred in charitable activities.

Management and administration

Management and administration costs represent expenditure incurred in the management of the charity's assets, organisational administrations and compliance with charitable and statutory requirements.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:


their expected useful lives on the
following bases:
Freehold Over 50 years
Leasehold Over the lease term
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the statement of financial activities. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the statement of financial activities.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

Page 10

TCL RE USE Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

  1. Income from Donations and Legacies
Donations and gifts
Grants
4.
Investment Income
Bank interest receivable
5.
Other Income
Reimbursements of costs
6.
Net Income/(Expenditure)
The net income is stated after charging/(crediting):
Depreciation of tangible fixed assets - owned
7.
Analysis of Expenditure
Raising funds
Coffee Shop
Re-Use Centre
Re-Use Centre		 Activities
undertaken
directly
£
-
62,429
55,105		 2025
Unrestricted
funds
£
360
40,000		 2024
Unrestricted
funds
£
-
-
40,360 -
2025
Unrestricted
funds
£
150		 2024
Unrestricted
funds
£
-
2025
Unrestricted
funds
£
9,540		 2024
Unrestricted
funds
£
-
2025
£
13,654		 2024
£
15,157
Support
costs
(see note 8)
£
1
89,824
332,534		 2025
Total
£
1
152,253
387,639
117,534 422,359 539,893
Activities
undertaken
directly
£
91,084		 Support
costs
(see note 8)
£
313,659		 2024
Total
£
404,743

Page 11

TCL RE USE Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

8. Support Costs

Employee costs
Premises expenses
General administration		 Raising
funds
£
-
-
1		 Coffee Shop
£
51,105
20,802
17,917		 Re-Use
Centre
£
205,643
75,354
51,537		 2025
Total
£
256,748
96,156
69,455
1 89,824 332,534 422,359
Employee costs
Premises expenses
General administration
.
Staff Costs
taff costs were as follows:
Wages and salaries
Social security costs
Other pension costs		 2025
£
249,737
9,290
2,574
261,601		 2024
Re-Use
Centre
£
181,252
109,368
23,039
313,659
2024
£
173,884
7,368
-
181,252

9. Staff Costs

Staff costs were as follows:

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

10. Average Number of Employees

Average number of employees during the year was: 17 (2024: 9)

11. Tangible Assets

1.
Tangible Assets
Cost
As at 1 April 2024
Additions
As at 31 March 2025
Depreciation
As at 1 April 2024
Provided during the period
As at 31 March 2025		 Plant &
Machinery
£
95,361
52,721		 Fixtures &
Fittings
£
14,472
4,822		 Total
£
109,833
57,543
148,082 19,294 167,376
83,282
12,690		 14,472
964		 97,754
13,654
95,972 15,436 111,408

...CONTINUED

Page 12

TCL RE USE Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025
As at 1 April 2024
12.
Stocks
Stock
13.
Debtors
Due within one year
Trade debtors
Other debtors
14.
Creditors: Amounts Falling Due Within One Year
Trade creditors
Taxation and social security		 52,110 52,110 3,858 55,968
12,079 - 12,079
2025
£
23,883
2025
£
37,038
43,872
80,910
2025
£
1
1,778
1,779		 2024
£
23,883
2024
£
15,152
59,024
74,176
2024
£
-
-
-

15. Pension Commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

During the year the charge to the statement of financial activities in respect of defined contribution schemes was £2,574 (2024: £0).

At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors.

16. Movement in Funds

Unrestricted funds
General:
5:17 Coffee Shop
TCL Re-Use Centre
Total unrestricted funds
Total funds		 As at 1 April
2024
£
-
172,877		 Income
£
131,563
471,890		 Expenditure
£
(152,256)
(387,637)		 As at 31
March 2025
£
(20,693)
257,130
172,877 603,453 (539,893) 236,437
172,877 603,453 (539,893) 236,437

Page 13

TCL RE USE Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

Unrestricted funds
General:
TCL Re-Use Centre
Total funds		 As at 1 April
2023
£
154,393		 Income
£
423,227		 Expenditure
£
(404,743)		 As at 31
March 2024
£
172,877
154,393 423,227 (404,743) 172,877

17. Transactions with Trustees

During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:

2025 2024
£ £

18. Related Party Disclosures

Page 14

TCL RE USE Detailed Statement of Financial Activities For The Year Ended 31 March 2025

INCOME AND ENDOWMENTS FROM:
Donations and legacies
Donations and gifts
Grants
Charitable Activities:
Coffee Shop
Income from charitable activities
Re-Use Centre
Income from charitable activities
Investments
Bank interest receivable
Other
Reimbursements of costs
EXPENDITURE ON:
Raising funds
Sundry expenses
Charitable Activities:
Coffee Shop
Purchases
Advertising, marketing, direct mail and publicity
Employers NI
Other direct costs
Wages and salaries
Staff training
Protective clothing
Travel and subsistence expenses
Rent
Rates
Light and heat
Vehicle running costs
Repairs, renewals and maintenance
Insurance
Printing, postage and stationery
Telecommunications and data costs
Bank charges		 2025
Total
funds
£
360
40,000		 2024
Total
funds
£
-
-
-
-
-
423,227
423,227
-
-
-
-
423,227
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
...CONTINUED
40,360
131,563
131,563
421,840
421,840
150
150
9,540
9,540
603,453
(1)
(1)
(58,565)
(1,722)
(2,087)
(55)
(49,383)
(890)
(717)
(115)
(13,333)
(1,341)
(6,128)
(1,431)
(7,981)
(1,621)
(5,012)
(777)
(499)

Page 15

TCL RE USE Detailed Statement of Financial Activities (continued) For The Year Ended 31 March 2025

Credit card charges
Sundry expenses
Re-Use Centre
Purchases
Advertising, marketing, direct mail and publicity
Employers NI
Other direct costs
Depreciation of plant and machinery
Depreciation of fixtures and fittings
Wages and salaries
Employers NI
Employers pensions - defined contributions scheme
Staff training
Protective clothing
Staff entertaining
Travel and subsistence expenses
Rent
Rates
Light and heat
Cleaning
Vehicle running costs
Computer software, consumables and maintenance
Repairs, renewals and maintenance
Insurance
Printing, postage and stationery
Advertising and marketing costs
Telecommunications and data costs
Professional fees
Consultancy fees
Subscriptions
Professional subscriptions
Payroll fees
Bank charges
Credit card charges
Sundry expenses
NET INCOME		 (199)
(397)		 -
-
(152,253)
(31,847)
(2,232)
(7,203)
(169)
(12,690)
(964)
(200,354)
-
(2,574)
(1,056)
(25)
(83)
(1,551)
(60,000)
(5,976)
(7,995)
(1,383)
(23,093)
(347)
(12,038)
(1,715)
(503)
-
(806)
-
(468)
(396)
(43)
(1,386)
(1,108)
(4,354)
(5,280)		 -
(75,927)
-
-
-
(15,157)
-
(173,884)
(7,368)
-
-
-
-
-
(100,313)
-
(9,055)
-
-
-
-
(6,660)
-
(793)
-
(10,201)
-
-
-
-
(5,114)
-
(271)
(387,639) (404,743)
(539,893) (404,743)
63,560 18,484

Page 16