Charity number: 1179323
SHREWSBURY FURNITURE SCHEME
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SHREWSBURY FURNITURE SCHEME
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Chairman's statement | 2 |
| Trustees' report | 3 - 5 |
| Independent examiner's report | 6 - 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 22 |
SHREWSBURY FURNITURE SCHEME
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
| Trustees | G Baker |
|---|---|
| N Bryant, Treasurer | |
| M Hall | |
| R Pearson, Vice Chair | |
| M Roberts | |
| W Strachan, Chair | |
| Charity registered number 1179323 Principal office Unit 9b Hartley Business Centre Shrewsbury Shropshire SY2 5ST Shop Manager J Lawley Warehouse Manager G Bevan Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG |
Page 1
SHREWSBURY FURNITURE SCHEME
CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
The chairman presents his statement for the year.
In the year to March 2025, the Scheme has continued to serve and help those people in our community who may struggle to fill their home with essential furniture needs. This need has grown as evidenced by the monetary sales from our warehouse which increased by 20%.
Sadly, our town centre charity shop saw a fall in takings. The furniture we offer from this outlet continued to be of high quality and the staff and volunteers have worked diligently, but other factors determined that our town centre outlet was no longer viable for us and a decision was taken to exercise a lease option and close the shop in November 2025.
However, in tandem with the shop closure, we have plans in place to improve our online offering. Through social media and in general informing people about who we are and how we can help, we believe that The Shrewsbury Furniture Scheme is creating a greater awareness in the county.
We must thank our wonderful volunteers at the shop and warehouse who have freely given of their time to support the charity, and to the employees and trustees who all help to ensure that the Scheme provides essential support to those less fortunate within our community.
Our volunteers include:
Harry Bates Lyn Bowley Pat Cullimore Liz Davies Magnus Hutchins Barrie Love Dave Parsons John Pritchard Toni Salema Caroline Turner
As always, we must thank those people in Shrewsbury and Shropshire who have donated worthy furniture and other household goods.
The scheme is also supported by a number of organisations who have provided us with grants. The National Lottery Community Fund assisted with the purchase of a new van, whilst other donors included Veolia, the Albert Hunt Trust Fund and others. We are very grateful.
We are reliant on our volunteers and our grant donors. This continued support means that together with a solid trading position, we have a strong financial base with reserves at £128,813. However, we are very aware that costs continue to rise. A challenge we have is the recruitment of volunteers, but we continue to monitor our activities whilst the key aim of assisting those less well off remains paramount.
W Strachan Chair
Page 2
SHREWSBURY FURNITURE SCHEME TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual repcwt with Ihe fmancial stslements of the Charity for the year 1 April 2024 to 31 March 2025. The accounts have breached the receipts and pasThents threSh(d during the current year. therefore the prior year figures have been restated to indude fixed assets. debtors and crethlots. Shrewsbury Fumilure Scheme was estalshOd In 1994. Our key for5 was. and still is, providing for peopl8 on low incomes with quality, affordable, reuso lumiiure and household gocJs. As we began to grow, in 2014, we decided lo open our own charity shop in Caslle Slreel. Shrewsbury. housed more quality. affordablg, prg- loved furnilur8 available for sale lo the general pul•¢. Whilst gener8ting an income Stream for the scheme for many years. sadly. the high running costs of the premises arxl 8 downturn in donations meant that the shop became untenable and the doors ch)5ed al the end ol November 2025, bul is due lo rwen in January 2026 as an onlin8 shop. With SFS Sglect. every purchase made h81p5 keep the main WahoUse very affordable to give back to the local community. keeping our charity funnino aThJ able to mK18 fof P8OFAe in ng8d. Obl8ctlv•s and a¢tlvltS• . Pollcl•8 •nd obl¢ctlvo• To r8llev& povety and protect 8nd preserve erOnMent. We work with local councils. housing aSSCK$8tions. and community organisalions lo provide lurnllure and household essentials to people in a wde raThJe ol rArcumstances. from those mowng into their fir51 horne to indivlduals and farThli8$ on low Iwjmes or l&ing finandal hardshlp. In setting obJectves and pl8nnlng for acllviU8s. thg TnJstee8 have glven thje Consklerath to ggneral guidance published by the Charity CoMmisOn rd8tirKJ lo public benefit. induding Ihe 9lance 'Public benefit.. rL¢nning 8 chority IP82}'. b. Str•t•gl•$ for achlovlng obJ•etl¥•# Colleclinq donale(l ffijmiturg. rewaing. renovalw arKI repawino whth woukl otheThvlse be dIsred of as landfill. c. Actlvltles und•rtak•n to ach1• ob}•ctlv• Through our warehouse, shop Ictosed from November 20251. online shop lfrom January 20261 and Ioc81 workshop, we alm to Pfovide quality secorKlthnd fumrture to Shiewsbjry and the surrounding areas. WI your generous donations of secondthand fijmilure. we a able lo supply a wide r8TvJe of Item8 from sofas and beds to wardrobgg and kitchen appliancès in both OLbr warghwse and s•lact glw. Our warehouse, loealed in Unil 9b. Hartley Business Centre. Monkmi)or Rd. is where we slod( a large amount of our second-hand fvmilure in Shrewsbury. Here. we provide fvmrtu for Sow4ncome tamilies at lower prices. all designed lo help people in need. From bedroom tumiture and sofas lo pushchairs and krtchèn appliances, we have everything you need to 901 started. Recently. our warehouse has also been opèned up to the pub14C to help sustain our charita0 objectives. Unwanted fumitUTg can be donated here. (r local workshops are currentty hekl on a Friday moming, 10 am- 1 pm. We invit8 p8oplo of all abilitles lo joln us in learning basic tsp¢]ng and upholstery skills. Paitiopant5 can bring along their own projecl to work on or giva a new lease of life to 8 piece offurniture tknated to chanty. Pdge 3
SHREWSBURY FURNrllJRE SCHEME TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achievements and perforn)an a. Maln achleveThents of the Charity The Trustees are proud that the Charily has managed lo keep wng in the oJrr8nl enoMiC dimate. This has been helped in part by th8 receipt of grants to help towards our costs. Flnancial ievl•w . FlnancSal Summary Ineome during the year amounled to £280.647 12024 £183,207), whith resulted in a nel surplus of £43,497 12024.. £18,640 delicitl. There were to181 (unds al or end of £12O,61J, which include5 a balance of £9,fj41 hgld within restric1 lunds, and the remaining £119.172 unrestricled. The unrestricted frjnd balanc8 includes tangible fixed asseis with a nel book value of £35.753. b. ReserS pollcy The charlvs pollcy Is lo hokl rgserves sufficient lo alknv It lo run for a pericmj of 3 months following 8ny decision made by the board 10 dose ihe chadty. CuThentty Ihe charftys alm is hc4d a roserve of £35,ClJJ. Free reserves Ihal a nol sel aside lor a spgufic purpose 8re available for 98ra1 use by the ch8rily. The INJure is calculated as Un$t"CIed furKls less any fixed assets, and at year end this sioc4J at £83,419 12024. £78,119). This would cover over 4 months of this years average expenditure. . GolDg ¢on¢•rn After making appropriate enquiries, the Trustees have a reasonable eXpectatn that the Charity has adequate f880urc88 to continue in operational oxislcncc lor thc forcsoeablo futu. For this feason. they continuo to adopt th8 going concem basis in preparing the financial statements. Further dètails regarding the adoption of the going concern basis can be lound in Ihe accounting FK4ici&8. Structurei gov•man¢¢ •nd m¥n4gement . Constitutlon Shr8wsbury Fumiiure ScMe i8 a r8gislered dwty. number 1179323. and is consliluled under a Trust deed. b. Methods of appolntment or •l•ctlon of Trnstee• The management of the Charity Is the respK)nslbIty of the Trustees who are elected and copIed under the temis of the Trust deed. c. Organlsatlonal structur• and d¢¢lslonwmaklng pollclgs The Trustees have formal quarterly meetiros along side sub groups who meet more often to ensuTe Support is avall8ble for our staff and volunteers Page 4
SHREWSBURY FURNtfuRE SCHEME TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Slructurep governanc• and manag•ment IcontSnuedl d. PolScles adopted for the induction and tralnlng of Trustees On appointmenl. a nY elected Iruslee must read. understand and attept Ihe dutss and fesponsibiliti&s of trustee as ouuined in the Charity Commissw booklets CC&Th8 Essonlial Trustee.. whal you need to know. and CC3 Idl". R¥¥puii¥ibililies uf Charity Trus1895. Statom•nt of Tru$t•tt' r•sponslbilitl•s The Twst88s ar8 responsibl• lor preparing the TnJstees' report and th• financial statements in accordanco with applicable law and Uniled Kingdom Accounb"ng StarKlards (United lQngdom Generally Accepted Accounting Practice). The law applicable lo ¢harilw in England & Vlales requires Trustees lo wepar8 financA41 statemgnls for ¥aLlI firiiifi¥iil wliibli yivv a true fair vlew of the slate ol affalrs ol Ihe Charfiy and of Its Inccmlng resources and aKylicatK)n ol rv6ourcB5. irludir¥a its wioyne and exFendilure. foi Ihal perK%J. In preparing the$8 financial slalements. th8 Trustoes ar8 roquir8d lo.. select sultae accounting policies and then ath Ihem consislenty.. observe the methods and printiples ol Ihe Cl)arilies SORP IFRS 1021. make judgments and accounting estimates thal are reasonable and prudent., slate whether appltcabl& UK Ac(x)unling St8fKlards IFRS 1021 have been kAk)we(1. 8uty.ect 10 any malerf81 departures disd05ed and explained in the financial sl8lemenls.' prepare th& finandal statemen15 on the going Conrn basbs unl888 tt is 4nappmpn.ale to Presume that the Chartty wlll conllnue In business. Tho Truste aro responsib for keeplro Jequal8 acCntirJ rgclyds Ihat a sufficlenl to show and explaln the Charivs Iransactions and disdose wlh reaSonae accuracy al any time Ihe financial position of the Charity and enable them io ensure Ihat the financial staiemenls u)mply iUI tlitt Clitirili¥s ALI 2011. tli¥ Clidrily (Accounis and Reports) Regulai¥)ns 2Crf)8 and the provisions of the Trust deed. They are also responsible for 98leguartling the assets of the Charity arKI henc8 lor taking reaSonale steps lor the pVentiOn and detèction of fraud and other irregularities. Approved by order of thè mombgrs of thg bo8rd of Trustees and sKJned on their behalf by." W Strachan (Chalr of Trusleesl 201 Page S
SHREWSBURY FURNITURE SCHEME INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Ind¢p•nd•nt exmlnerf¥ r•pgrt to th• Trust•e¥ of Shrew¥bury Furnlturn Sch•m• Ilh• Charl I report to the charity Trustees my examlnallon ol the accounts of th& Ch8rity for the year ended 31 Marth 2025. R••pon•lbllltlM and b••l• ol r•port As tho Tntslee8 of thè Chaiity are re¥r1)le ftx th• WOP8Tion of thg accounls rn accordancg With the requlr6men18 01 the chai115 Act 2011 llh8 2011 Arf). I report In respect of my examlnatth of the Chaiitl$ o(£ounts orried out undor 8ediw 145 of the 2011 Ad and In Can9 out my examinab'on I have fdkr*ed tho applicable Dirncliorffj glven by the Charity Commksbn under seGUon 14515llbl ol the 2011 ACL Pa9e 6
SHREWSBURY FURNrruRE SCHEME INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Independent examlnerfs ststom•nt Since the Charitys gross irKome exceeded Q50.(KKJ ywr examingr musl be a member of a body listed in section 145 of thts 2011 Act. I confirm Ihat l am qualified to undertake Ihe exaffllnat bgcause l am a member ol ACCA. which is one of the lisled tKMJies. Yovr allenlion is drawn lo the fact thal the Charlty has ppared the accounts in accordancg With Accounllng and Reporting by Charities.. Stalem6nt of Recommended Practice apicable to charilS preparing their accounts in accordance with the Finanaal Repwti'ng SlarKlard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounknng and Roporting by Chaftti6s.' Statement of Rec¥mmende(I Practice issugd on 1 April 2005 whieh ig rofoThod to in lh¢ oxtanl re9ulation8 has boon Tra¥. l undorsland Ihat this has boon do kn order for thg accounts to pmvid• 8 tnJ• and falr vlaw in aeeordanee with the Generalty Accepted Accounling Practice effectNe for reportiro peric$ b89inniry on or after 1 January 2015. I have corn81ed my examlnatk)n. I c(mfirm that no matters havg come to my attenlion In connectk)n wlth the examination giv1j me cause lo bel¥6 that in any material Tespe(I'. 8ccounting records were not kept in re5Fd of ihe Charity as rtquired ty section 130 of the 2011 Act,. or thè accp)unts do riot with Iho3e record8; or Ihg a¢nIS do not Corny Ihe appliCae requiremenls conceming the fom 8nd conlenl of accounts set oul in the Charities (Accounts and Reports} RegulalK)ns 2LI)8 other than any requirement that tho aoniS give a 'lrue and 181¢ which is Tr)1 a matter consKlered as part of an independent examlnallon. I have rn CoremS and have come acr088 no other Matte in connection the examlnatton lo whlch 8tl8nlkJn Should bg drawn in this report in order to ena0 a propgr underslandlng of Ihe accounts to b8 reached. Page 7
SHREWSBURY FURNMJRE SCHEIAE IIIDEPENDENT EXAMINEWS REPORT {CONTINUED) FOR THE YEAR ENDED 31 klARCH 2025 Thls report 15 made soL91y to the Charitys Truste8s. as a body. in aCc#)niare wlth Part 4 01 the Charille$ lAcunt9 8nd Reports) RegulalvJns 2rJ)8. has been undèrtaken so that I rnJht stste to the Charivs Trusiees those matters l am requlred to slate to thern In an Independent examiners repon and for no other purpose. To the lullesl extent peitted by law. I do not accept or assume responsibility lo anyone othgr than the Ch$rity and tho Ch•iiVs Trusloos as a body. for my or fDr thi5 r•porL sJn811.' T Lunt D8tsd.' 12 January 2026 8A FCCA MTPI WR P•rtn•r4 ChArtarad AcexAJnlAnts 8elmonl House Shr8Wsbury 8u¥lness Park Shrewsbury Shropshire SY2 OLO Page 8
SHREWSBURY FURNITURE SCHEME STATEIAENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2025 Re•tr5Gt Unre¥trlrl•il funds fund5 2025 2025 Totsl funds 2025 Ttxal funds 2024 Not• Incom• from.. Donations and legacies Charitabl8 activities Investments 112.162 21,081 145,438 133,243 145,438 1,966 36,896 145,857 454 Total Incom• 112.162 168,485 280.647 183,207 Expondltur• on., Charitable aclivities 60.780 176.370 237.150 201.847 Total exndItUre 60.780 176.370 237,150 201,847 N•1 Incomell•xp•ndltur•l Transfeis be9 Itjnds 51.382 141,741) 17.885) 41,741 43.497 (18,640) 15 N•t movement In lund$ 9,641 33,856 43,497 (78.640? R•con¢lllatlon of fund#: Total lunds brought forward Net movement in fvnd8 86,316 33,856 85.316 43.497 103,956 (78,640) 9,641 Total fund$ Carr1 forward 9,641 119,172 128,813 85,316 Th8 Statemonl ol financial activities indudes all g81ns andlosses Te¢ognised in the year. Tho nol8s on pages 11 to 22 form part of the8e finaneial statements. Page g
SHREWSBURY FURNMIRE SCHEME BALANCE SHEET AS AT 31 IAARCH 202S 2025 2024 No Flx¢d 4¥¥•t• Tangible assets 35,753 7,197 35,753 7,197 Curr•nt •s••ts Debtor# Ca¥h al bank and in hand 12 7.110 92.748 4460 76,151 80.611 Curr•nt Il•bllltl•• Crodilor8.' •mnIS falling due wthin yr 13 (8.m) (2,492) N•1 eurr•nt ••••t• 93.1)60 78,119 Totsl ••••t• IM• ¢urr•nl Il•blllll 128,813 85,376 Total n•t u#•ts 120.813 85,316 Charty fund• Reslncted fvnds Unr6slrlct8d fund$ 15 15 9.641 119.172 85,316 T¢)tsl fund• 128.813 85.316 The financlal statements wore approved and auth0ri88d for188ue by the Tru81e88 and slgned on trlr behaff by.. W Strnehn {Chair of Trustees} Date- Th• notes on pa9•s 11 to 22 frymi part ofth•8e finanaal 8tatsm•nts. Pa98 10
SHREWSBURY FURNtruRE SCHEME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Gen•ral Infomlation Shrewsbury Fumilure Scheme is a charity founded w) 1996 and regi¥lered Ihe Chanty Commission (Charilv No 11793231. the charity opgrales from Ifs registered address staled on pagè 1 of the accounts, and recycl8s fumilure. Ivrtriral h¢Msehold goods for r&Ltse In the (x)mmunity. The accounts have breached th8 rec8ipls and Paents threshokl durin9 the current year, therefore the prior year figures have been restated lo include fixed assets, debtOTS and creditors. Accounilng poll¢l 2.1 Bas1$ of pr•paratlon of financlal stat•mnts The finanoal slalement5 have been Prepared k) accordance 1h the Charllies SORP IFRS 102} - Accounting and Reporting by Charitss.. Slatemenl ol Rewmmended Practice applicable lo chorilies piopariThJ their accounts in accordaF)c¥ willi ili¥ Firwiiil R¥wilng Standard appllcable In the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard apJicable in Ihe UK and RepublK of Ireland IFRS 1021 and the Charili8s Acl 2n11. Th& financial stalements have been pared lo give a and fairf vigw and have departed from the Charities (Accounls and Reports) Regulations 2008 only lo Ihe exl¢nt required to provide a 'lrue and fairf view. This dep8rture has invdved following the Charities SORP IFRS 1021 published in C)rtnhRr ?n1q ralhar than Ihè AccounUn9 and R•porb"rrfJ by charit.. Slatgmgnt ol Rocommond•d Pradce effective from 1 April 2005 which has slnee been withdrawn. Shwwsbury Fumiturg Schemgshrewsbury Fumilura Scheme meets th& defin6tlon of a public b8nefil entity Lsnder FRS 102. A15 and liab8$ 8re intti81ty recognised al histsi¢81 cost or transaclh valu• unl•ss otherw68 8tated in thè leVant aOUntIng polbcy. 2.2 Incom• All income is recognised once the Charity has entillnent to the Income, it is probabl8 that the Sncorne wll recewed and the amount of inccry re(tivable can be ffleasur Ii*liably. Grants are inclvd8d in the Ststemenl ol financial aclivitres on 8 receivable basis. The b8lanc8 of Income received for specific purposes twjl nol expend8d during the period is shown in the Telev8nt funds on the 8alance sheel. whe income is received in thance ol entitment of receipt, its rebuyiliirI defETred arKI induded In crediiors as deferw Income. Where entitlement occurs befo income is rgcgivad. Ihe income is aetrued. 2.3 Expfrndltur• EXndire s recc<Jnised once th8T8 rs a legal or cOtructIVe obligan lo transfer economic benefit to a third party, it is probable thal a transfer of economic benèfits will be required in settlement and the amount ol the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of direct costs and shared costs, induding support costs involved in undertakn'ng èach a¢lty. Direct costs attributsble to a single activity a allorated directly to that actiwty. Shared costs whth contn'bute to morè than one actNity and support costs which arg not attributable to a single activty a apporboned betren those actiwties on a basis consistent with the use of resources. Central stsff ¢y)5ts are allocated on the basis of lime spent. and depTecialion charge5 alkjcaled on the [On of the asset's use. Paye 11
SHRE¥VSBURY FVRNITURE SCHEME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Accountlng policies Icontinuedl 2.3 Expendlturo l¢ontInu) Expenditure on tharitable activities is irb)Jrred on directly LmdertakirYJ the activitie5 which further the Charitys obiecknves. as well as any associated support eosts. 2.4 Inter8St r•¢•lwab Interest on funds hekl on dewl is induded when feceiv8ble and the amount can be measured li8hly by the Chartly. Ihis is normalty upon notificalion of th• Inte1 paid or payablg by tho Instituti wth whom the lunds are deFosiled. 2.5 Tanglble flxed a$$•ts and d•prncl•tlon Tangl0 fixed assets aro ¢opilaliGod and rocognised whon fvlwe economic benefits are probable and the c05t 01 valLte of the assel can be measured reliably. Tangible fixed assets Ire inttially fecognised al cost. After reccgnilvn. under Ihe cost model. tangible lixed assets are measured at cost less accumulated depiation and any accumulaled impairment 1053tr9. All coJts incurr¢d lo bring a tsngibkn fixed a¥391 into Ils Inlend8d cvrKlil¥Jii ¥liuuld Included in the measLtrem•nt ol cost. Depreciabon Is ¢harg8d so as to olloc81e the cosl ol langibl8 fixed 088els $888 their residu81 value over their estimated uselul lives. on a reducing balance basis. DepClatsOn b5 pfovkled cm Ihe folk)Vn9 basis.. EquSpment Motor vehicles Fixtures aThJ frttsrvJs 25% 25% 25% 2.6 D•btor• Trade and other debtors 8re recognised al the settlement amount after any tr8de dlscounl offèred. Prepayynents are valued at Ihe anw)unl Ppaid r1 ol any trade discc¥Jnts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-tem) highty Imjuid investments with a short maturity ol three months or tess from the date of acquigb.on or opening of Ihe deposil or similar account. Pag8 12
SHREWSBURY FUR141TURE SCHEME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng polkles {contInu) 2.8 Llablllties and provlslons Liabili9$ are recojnised vthan Ihere is an obligation al Ihe Balance Sheet dale as a result of 8 past evenL il is probable Ihat a Iransler of ecorK)mic b&nefil will be requireil in setllemenL and the amount of the setuemenl Can be estimated reliabty. LiatlItieS are recognised al Ihe amount that thg Charity 8ntiapales rt will pay to setlje the debt or the amount il has receiv8d as at1vanced payThenls for the gcKrfJ5 or services it musl provide. Provisions are measured al the best estimats of the anY)unts rnquired to settle the obligation. Where the effecl of ihe lJm8 value ol money is malenal. the prowsion is base(1 on the present value of those iilL)uiilb, di5counled at Ihe pre-tax dlscouni rate thai reflects the nsks specjfic to the liability. I he unwinding ol the dyscounl is recognised in Ihg Statement of financ4al activities as a finance cost. 2.9 Flnan¢lal In$trum•nt8 The Chafty onty has h'nanual a5sel$ an(1 finaral liabilities ol a kind Ihal quallfy as basic financial Inslrumenls. Basie financial instruments arè initially recognised al transaction value and sub$eouenlly moasurod at Ihotr 80tt1om•nt value with the exccption of bonk k)8n8 8ubsequ•nlly mea$urgd al amortised cost using Ihe effective iniefest rnelhod. 2.10 P•nslong 2.11 Fund accountlng General lunds are unreslrided funds vthich are available for use al the discreth)n of the Truslge5 in lurtherance of the general objeckn'ves of the Chaiity and which have nol been deslgnaled for other pur[. Restricted funds are fvnds which are lo be used in aceordance specific restrictions imptssad by donors or whith have been raised by Ihp C.hArity fnr pArtir.iilar wrp)se$. Thè costs of ratsing and administering such funds are charged against the specific fund. The aim and use of each restricted fuThY is sel out in the notes lo the financial statements. Investm&nt Income, gains ar¥J losses 8f9 8llocated to the approwtate fvnd. Pa9c 13
SHREWSBURY FURNrruRE SCHEME NOTES TO THE FINM4CIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Incorno from donatlons and loga¢b•s Restrlcted UnreBtrlthd funds funds 2025 2025 Total funds 2025 TDt81 funds 2024 Grants Stor& Shop 94,162 18.Crf)O 99.182 18.000 29,835 Subtotal detalled dlsclosur• 112.162 117,162 29,835 Slmllar incomSng resourc*s 16.081 11081 7.061 Subtolal 16.081 16.081 7.061 112,162 21.081 133.243 36,896 Tolal 2024 36,896 36.896 In¢om• from charltabl• •¢tlvltl• Unr•8trlct•d funds 2025 Total nds 2025 Total fvnds 2024 Store Shop 79.276 66.162 79,276 66,162 65,862 79,995 145,438 145,438 145,857 Total 2024 145.857 145.857 Page 14
SHREWSBURY FVRNMJRE SCHEIAE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2025 Investm4nt Income Unrvotrld•d funds 2025 Total funds 2025 Total fvnds 2024 Investment inm8- Ioc41 cash 1.966 454 Total 2024 454 454 AnalyJl$ ol •xpfidltur• on chorlt•bl• a¢tlvlll•• Summary by fund typ• ResIr1¢t Unre•trlcte funds funds 2025 2025 Totsl 2025 To181 2024 Store Shop 42,780 18.CrtJ) 109.296 67.074 152.076 85,074 724,502 77,345 60.780 176.370 237.150 201,847 Total 2024 207.847 201,847 Analy818 ot expendliur• by a¢tlvttles Actlvltl• ndertak•n dlrectly 2025 Support costs 2025 Totsl funds 2025 Toièl lunds 2024 Store Shop 100.102 4J.3Z3 51,974 41,751 152.076 85.074 124,502 77,345 143.425 93.725 237.150 207,847 Total 2024 122.937 78.910 201,847 Page 15
SHREWSBURY FURNITURE SCHEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 klARCH 2025 Analylls of •xpend6tur• by athltl•• Iconllnuedl An8ly•l• ol dlr•ct costs Total lunds 2025 Tol funds 2024 Stor• 2025 SIK>P 202S Staff costs Purcha8e8 for resth Workshop 94.724 S.347 31 43.323 138,047 5,347 31 119,718 3,219 11Xs.102 43.323 143.423 122.937 Tot812024 85.162 37, 175 122.931 Pag8 18
SHREWSBURY FVRNMJRE SCHEME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR E14DED 31 MARCH 2025 Anatysls Of exponditurfr by acllvlllK Icontlnued) Anatysis of $upport wJts Total funds 2025 Totel rui?ds 2024 Shop 2025 2025 Depreoalton Epos SyEtem Rent Service charge FIAr.tric, gas & watgr Telephone Volunleor oxponw¥ Van eX[Se$ IriburiJfiL¥ Workshop Postage, printing & slatk)nery Miscellaneous Professional lees Promob'on & advgfuslng Cleaning Repairs Bank & card tharges 11,917 1.128 19.703 11.917 1.128 47,346 2,398 1.128 4n,R93 1,600 8,362 1,655 294 27.643 2.666 5.743 519 131 5.874 1.667 357 8.678 1.577 1.148 357 8.678 1.577 7.208 1.406 276 822 386 178 7.693 4. 163 1,297 880 4,060 1,327 281 3,131 2.415 1.809 787 2,415 1.074 31 819 735 7S6 1.303 1.383 701 51,974 41,751 93,725 78,910 Tot812024 39,340 39.570 78,910 Indep•ndent examlnerfs r8fftvr•1l0n 202S 2024 Fees ptyable lo the Charitys indeperhjent examiner for Ihe independent examinalion of the Chariws annual a¢¢ounts Fees paydble lo the Charitys Indepern1 examiner in respect ot. All other servKes not included above 2,300 875 150 Pagc 17
SHREWSBURY FVRNITURE SCHEME OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIARCH 2025 staff costs 2025 2024 Wage5 and salaries Social security costs Contribubon to definod ccffltribulion schemes 134,397 1,996 1.654 117,818 494 7.406 138,047 119,718 The average number of perSS empw by the Charity during the Jfjar was as follm: 2025 No. 2024 Employ8es No •mpIO roc8lv•d r•munar•tion omounbng to mom than £60.0 in oithor yoar. Key managemenl porsonnel comprised 012 indidU015 during the year, rtceiving remuneration including gross wages arKI gmployer penskjn contribull¢xo arywnung lo £48,52512024.. £42.5741. 10. Trustses. r•mun•ratlon and •xp•nsos During the year, no Trustees received any remuneration or other benefits (2024- £NILI. During the year er*ded 31 Mareh 2025, no Truslee expenses have be•n Irr[¢ (2024 . £NIL). 11. Tanglbl• Ilx•d as8•ts Plant and machlnery Motor Flxturos and ¥•hl¢le$ fittlngg Total Cost or v8lu4tlon Al 1 April 2024 Addition8 35,773 43.725 41.741 {13.5O01 8.023 87,521 41,741 113,500) Oisposds At 31 March 2025 35.773 71.966 8.023 115,762 Page IB
SHREWSBURY FURNrfuRE SCHEME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Tanglble fixed assets {continuedl Plant and machinery Motor Fixtures and vehides fitting5 Total Depw•Glallon Al 1 April 2024 Charge lor the ar On disptssals 35,412 37.079 11,780 112.2321 7.833 47 80.324 11,917 (12.232) Al 31 March 2025 35.502 36,627 7,880 80,009 Ngt book v•lu• Al 31 March 2025 271 35,339 143 35,753 At 31 March 2024 361 6,646 190 7.197 12. D•btorn 2025 2Q24 Duo wlthln one year Prepayments and acctufjd incung 7.110 4,4150 7.110 4,460 13. Credlt*ys". Amounts lalllng du• wlthln on• y•ar 2025 2024 Olher taXalk and gcoal security AccwaL8 and deferred income 2.017 4,781 557 1,935 6,798 2,492 14. Prfor year adlustmènts The acUnts have iKeached the receipis and pawments threshold during the Current year. therelore the prior year figures have teen restaied lo indude fixed assets. debtofs and creditor5. Page 19
SHREWSBURY FURNITURE SCHEME NOTES TO THE FINA14CIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Statement of funds ststement of lund5 - current year Balan¢• at 31 March 20Z5 Balanu at 1 April 2024 Transfers Inlout Incom• Exwd1rO UnreStrIct funds General Funds Fixed assets 78.119 7,197 126.744 41.741 (164.4531 111,9171 43.009 {1,2681 83.419 35,753 85,316 168,485 {176,3701 41.741 119,172 R•strl¢t•d funds Shop rent Upwlng Van Drlver and a881slanl woges 17,000 117.0001 11,000) 43.412 50,750 143,412) 1.671 142.7801 9,641 112.162 160.7801 {41.7411 9,641 Total ol lunds 85.316 280,647 (237,150) 128.813 Stat•m•nt Of fun& - prbor y•ar 88lance al 31 March 2024 Balance 8t 7 April 2023 Income Expendilum Unrestrfct•d funds General Funds Fixed 8ssets 94,361 9,595 183,207 (199,449) (2.398) 78.719 7. 197 103,956 183.207 (201,847) 85,376 P¢aye 20
SHREWSBURY FURNrruRE SCHEME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIARCH 2025 15. Statement of fvnds {continuedl Restricted funds: Shop Renl- ContributhS roceived lo Supp the shop rental chargo. Up-wling- Help ILK firvdlviiw WLYk lumiture lo enhance aTrJ repalr to enable a better resale prfce. Van - Monies rec•ived to pay for 8 r*w van. Driver 8nd assistant wages- Help wlth thè ctssl of drive and assistants. 16. Analy818 of nèt 4ssets betw••n fvnd• Analy$l$ of not a$ts betwo•n funds - ¢ury•nt y•ar R•$trl¢t•d Unr•$tricted funds funds 2025 2025 Total lund• 2025 T8ngible Ilxed 8ssels Current assets Cr8dilors wlthln one •r 35.753 90.217 16.7981 35,7S3 99.858 16.7981 9.641 Total 9,641 119.172 128,813 Analysls ol n•1 a8ts b•twe•n fvnds - prlor y•ar uns(neI&d funds 2024 Total funds 2024 Tangiblo fixeil assels Current assets Credrtors dug vmthin one year 7. 197 80.611 (2,492) 7,197 80.671 (2,492J Total 85.316 85,316 17. Pen8lon The Charily opÈi2tes A dftfinAd Mnlrihub"M n$Trn schemè. The assots of the scheme are held separately from those of the Charity in an irKlependenlly administered ftsnd. The pension cost Gharge represents Contribulions paydble by the Charrty to the fund and amounted to £1.65412024 - £1,406>. amount of £nil was payable to the fund at the tanc& sheel dale {2024'. £nill. Page21
SHREWS8URY FURNrrvRE SCHEME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2025 R•lat•d paty tranBaGUon• The Charity has not entered into any r8lat8d rtY transacllon dutlno thè ypar. nor ara thero any outstanding balanc05 OV•ing betsY8en fglalod partias arKI tho Charity at 31 March 2025. Page 22