2022-03-31-accounts

Charity Registration no. 1182905

THE USEFUL WOOD COMPANY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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THE USEFUL WOOD COMPANY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Anthony Hewat Michael Deavin Sue Heavens (resigned on 23 March 2022) George Varney Stephen Barter Brian Henry Charity number 1182905 Registered office and 15-29 Goldsworth Road Principle address Woking Surrey GU21 6JT Independent Examiner P I Vickerman 31a Nightingale Road Godalming Surrey GU7 2HP Bankers HSBC 6 Commercial Way Woking Surrey GU21 6EZ

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THE USEFUL WOOD COMPANY

CONTENTS

	Page
Trustees’ report	4 -6
Independent Examiner’s report	7
Statement of financial activities	8
Balance sheet	9
Notes to the financial accounts	10 - 16

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THE USEFUL WOOD COMPANY

TRUSTEES’ REPORT (INCLUDING DIRECTORS’REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

The Trustees have pleasure in submitting the Report and Accounts for the year to 31[st] March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document and ‘‘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 the Republic of Ireland (FRS 102)’’ (as amended for accounting periods commencing from 1 January 2016).

Objects of the Charity

The charity’s objectives are:

1. The relief of unemployment for the benefit of the public in such ways as may be thought fit, including assistance to find employment, work placements, training and volunteering opportunities.

2. To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. For the purpose of this clause ‘socially excluded’ means being excluded from society, or parts of society, as a result of one or more of the following factors:

3. unemployment,

4. financial hardship,

5. youth or old age,

6. ill health (physical or mental),

7. substance abuse or dependency including alcohol and drugs,

8. discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender reassignment,

9. poor educational or skills attainment,

10. relationship or family breakdown,

11. poor housing (that is housing that does not meet basic habitable standards),

12. crime (either as a victim or as an offender rehabilitating into society).

13. The protection and preservation of the environment for the public benefit by recycling and re-using waste wood and wood products

In furtherance of these objects but not otherwise, the trustees shall have power to establish or secure the establishment of suitable premises and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a premises for activities promoted by the charity in furtherance of the above objects.

Governance

The charity is a Charitable Incorporated Organization (CIO), and is a member of the National Community Wood Recycling Project, which supports a national network of over 30 wood recycling organisations with similar aims, providing marketing to national building companies, training resources and advice.

We became VAT registered in January 2021.

Two new trustees were appointed by the existing Trustees, one new trustee was appointed during this period following the resignation of the Treasurer.

• The charity has achieved/maintained relationships with the following during 2021/22: Welcome Church, Woking Woking Borough Council Woking Job Centre Police Commissioner for Surrey Probation Service Community Payback scheme York Road Project Surrey Choices Christians Against Poverty

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Activities

The heart of the trustees of The Useful Wood Company (TUWC) remains to see those on the margins of society ~~and~~ who have suffered various traumas that result in loss of confidence and self-esteem, to get work experience, training and support to enable them to achieve employment and give back to society and their local community.

The charity continues to operate from premises which are rent and rates free, and which include yard, workshops and a retail/display area. We currently have two collection vans which collect waste wood from building and commercial sites (using three vans), manufacture bespoke and stock wood products and sell wood and our products. This supports both the wood recycling project and our work with beneficiaries in pursuit of the charities vision.

The charity has worked towards its charitable aims helped by a growing number of volunteer “alongsiders/ supervisors” ~~that~~ who support the beneficiaries by mentoring, encouraging and guiding them.

Our beneficiary placements have been referred to us by statutory and non-statutory bodies such as Welcome Church, Woking Job Centre, Probation Service (Payback), Surrey Choices and The York Road Project for the homeless.

Achievements

As mentioned, TUWC started operations in September 2019 and has seen year on year growth in the numbers of volunteers and beneficiaries up until the Covid 19 restrictions in November 2021 when TUWC had to temporarily cease workshop activity.

During the year to 31 March 2022, we have been able to achieve saving 4,765 tonnes of wood from being sent to landfill. In terms of our social action, we have achieved a total of 792 work experience days with 52 beneficiaries in addition we have been helped by 12 volunteer supervisors.

Work was, as in 2019/20, severely hampered by Covid-19, with the second lockdown introduced in November 2021. The building industry remained active and we continued wood collection activity throughout the lockdown period, maintaining a good level of income. The wood shop closed, although customers were again able to place orders for delivery, or collection from the yard. The shop and the workshop recommenced activity at the end of lockdown.

We were delighted to increase our staffing levels being able to appoint a full-time driver in June 2021 and a part time Workshop Supervisor in October 2021. Groups from the Community Payback scheme continue to work enthusiastically to sort and prepare wood in the yard.

During ~~this operating period~~ the year we were pleased to see six beneficiaries move in to employment.

Operations

TUWC has continued to operate from premises in Goldsworth Road Woking which were provided by Welcome Church who had leased these from a development company intending to redevelop this area of Woking town centre. Within the lease there is provision for the landlord to serve 3 months’ notice. The developers gained planning by a planning appeal early in 2022. This lease will end in March 2023.

Local and national collections of waste wood, continues to be the main source of income but we have seen increases in both retail and wood sales The collection service is actively marketed by NCWRP to major construction companies and TUWC remains free to source such collections locally. Wood that cannot be used or resold is sent to be chipped for biomass fuel.

The opportunities for the beneficiaries include working in the shop, being on the van for wood collections, sorting collected wood, marketing the service, office/administrative help, and working in the workshop to produce retail and bespoke products.

Grants and

Grants received during the year are detailed within the accounts.

A grant from Woking Borough Council, was received towards additional machinery, and a gift in memory of Janet Deavin who gave much commitment and time as a volunteer

The charity has continued to benefit from premises that are rent-free and with 100% rate relief. We are mindful that this situation will be urgent and the charity will need to relocate by 31[st] of March 2023 and begin to pay rent at some

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point in the future.is the most likely scenario. The trustees have sought to build up reserves in the charity in order to be able to relocate when necessary.

In the year to March 2022, the charity received a grant of £4,250 and donations of £13,296 and earned income of £164.355, mainly from wood collection, but also from the sale of recycled wood and products made in the workshop.

Expenditure, all on, or in support of, charitable activities amounted to £161,842, leaving a surplus of £15,815 in the year. Reserves at the year-end were £88,997 of which £5,560 were Restricted Funds.

Trustees’ Responsibilities

Charity law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial period. In preparing those financial statements, the trustees should follow best practice and:

• Select suitable accounting policies and the apply them consistently

• Make judgements and estimates that are reasonable and prudent, and

• Prepare the financial statements on the ongoing concern basis unless it is not appropriate to assume that the charity will continue on that basis

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. The trustees are also responsible for safeguarding the assets of the charity and to take reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the trustees on 24 November 2022 and signed on their behalf by:

Anthony A Hewat (Chair of Trustees)

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THE USEFUL WOOD COMPANY

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF THE USEFUL WOOD COMPANY

I report to the trustees on my examination of the financial statements of The Useful Wood Company (the charity) for the year to 31March 2022 as set out on pages 8 to 16.

Responsibilities and basis of report

The charity’s trustees are responsible for the preparation of the financial statements. The Charity’s trustees consider an audit is not required for this financial period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

• Examine the accounts under section 145 of the 2011 Act;

• To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

• To state whether particular matters have come to my attention.

Basis of independent examiner’ report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

• (1) Which gives me reasonable cause to believe that in any material respect the requirements:

• to keep accounting records in accordance with section 130 of the 2011 Act; and

• to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met: or

• (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

P I Vickerman FCA Practising Accountant 31a Nightingale Road Godalming Surrey GU7 2HP

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THE USEFUL WOOD COMPANY

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2022

			2022			2021
		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Notes	funds	funds	funds	funds	funds	funds
		£	£	£	£	£	£
Income from:
Donations &	3	2,370	7,542	9,912	13,871	-		13,871
legacies
Grants	3	-	-	-	-	8,130		8,130
Charitable	4	164,355	-	164,355	96,336	-		96,336
activities
Investment	5	6	-	6	7	-		7
Income
Total Income		166,731	7,542	174,273	110,214	8,130	118,343
Expenditure on:
Charitable	6	154,300	7,542	161,842	51,042	11,209		62,251
activities
Net Income		12,431	-	12,431	59,172	(3,079)		56,093
Opening fund		68,193	4,989	73,182	9,021	8,069		17,090
balances
Net income for the		12,431	-	12,431	59,172	(3,079)		56,093
year /
Net movement of
funds
Closing fund		80,624	4,989	85,613	68,193	4,989		73,182
balances

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THE USEFUL WOOD COMPANY

BALANCE SHEET AS AT 31 MARCH 2022

Notes £ Fixed Assets: Tangible assets 11 Current Assets: Stock 12 Debtors & prepayments 13 Cash at bank and in hand Creditors: Amounts falling due within one year 14 Total assets less current liabilities Creditors: Amounts falling due after more than one year 14 Net Assets Income funds: Unrestricted funds Restricted funds Total	As at 31 March 2022 £ 27,536 795 21,836 73,386 96,018 21,626 74,392 101,928 16,315 85,613 80,624 4,989 85,613	As at 31 March 2021 £ £ 33,792 764 26,882 42,820 70,466 9,942 60,524 94,316 21,133 73,182 68,193 4,989 73,182	As at 31 March 2021 £ £ 33,792 764 26,882 42,820 70,466 9,942 60,524 94,316 21,133 73,182 68,193 4,989 73,182
			94,316 73,182
			73,182

The notes on pages 10 – 16 form part of these financial statements.

Approved by the trustees on 24 November 2022 and signed on their behalf by:

Anthony A Hewat (Chair of Trustees)

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THE USEFUL WOOD COMPANY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

The Useful Wood Company was incorporated in England and is a charitable incorporated organisation which is registered with the Charity Commissioners for England and Wales. It’s registered office is at 15-29, Goldsworth Road, Woking, Surrey, GU21 6JT.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity’s governing document, The charities Act 2011 and ‘’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 the Republic of Ireland (FRS 102)’’ (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and use of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require the deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliability.

1.6 Tangible fixed assets

The acquisition of minor capital items such as fixtures, fittings and equipment below a cost of £200 are charged to revenue in period they were purchased.

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Tangible fixed assets are initially measured at cost and subsequently measured at cost or realisation, net of depreciation and any impairment losses. This also applies to gifted assets which are valued at an amount in excess of £200.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

• Fixtures, fittings and equipment 20% straight line

• Motor vehicle 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income (expenditure) for the period.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If anysuch indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivables within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.

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The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

	3 Donations and grants		2022				2021
		Unrestricted	Restricted		Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds	funds	funds
	Donations and legacies	£	£		£	£	£	£
	Donations & Gifts (non gift-	1,970	-		1,970	7,540	-	7,540
	aided)
	Donations & Gifts (gift-aided)	-	-		-	5,000	-	5,000
	Donations via Virgin Giving &	-	-		-	75	-	75
	Stewardship
	Gift Aid Recovered	-	-		-	1,256	-	1,256
	Grants Received	-	7,542		7,542	-	8,130	8,130
	Donations in Kind - Tools &	400	-		400	-	-	-
	Equipment
		2,370	7,542		9,912	13,871	8,130	22,001
	Grants receivable for core
	activities
	Community Foundation for	-	-		-	-	5,362	5,362
	Surrey
	The Office of the Police and	-	-		-	-	-	-
	Crime Commissioner
	Woking Borough Council	-	4,250		4,250	-	13,000	13,000
	Shanley Foundation	-	-		-	-	2,500	2,500
	Clothworkers	-	-		-	-	14,700	14,700
	Grant income deferred	-	(3,708)		(3,708)	-	(27,432)	(27,432)
	Grant income recognised	-	7,000		7,000
	Grants Received	-	7,542		7.542	-	8,130	8,130
`
	4 Income from charitable		2022				2021
	activities
		Unrestricted	Restricted		Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds	funds	funds
		£	£	£		£	£	£
	Sales within charitable activities	- wood recycling
	National Collections	105,819	-		105,819	65,376	-	65,376
	Local Collections	13,430	-		13,430	4,986	-	4,986
	Product Sales	10,503	-		10,503	3,970	-	3,970
	Wood Sales	29,087	-		29,087	15,126	-	15,126
	Hardware Sales	2,543	-		2,543	1,069	-	1,069
	Pallet Sales	1,469	-		1,469	2,894	-	2,894
	Firewood Sales	487	-		487	147	-	147
	Miscellaneous Sales	1,017	-		1,017	2,768	-	2,768
		164,355	-		164,355	96,336	-	96,336

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5 Investments		2022			2021
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds	funds	funds	funds	funds
	£	£	£	£	£	£
Interest Received (Gross)	6	-	6	7	-	7
6 Expenditure on		2022			2021
charitable activities
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds	Funds	funds	funds	funds
	£	£	£	£	£	£
Workshop consumables	2,505	-	2,505	280	-	280
Small tools & minor	6,205	-	6,205	-	416	416
equipment
Machinery maintenance	273	-	273	35	-	35
Hardware purchases	2,695	-	2,695	792	-	792
Wood purchases	939	-	939	377	-	377
Paints, adhesives & finishes	464	-	464	119	-	119
Packaging materials	27	-	27	-	-	-
Waste disposal costs	28,112	-	28,112	11,554	-	11,554
Van costs (incl van hire)	15,882	-	15,882	10,144	2,200	12,344
Van depreciation	2,160	6,299	8,459	2,160	1,818	3,978
Protective clothing	1,592	-	1,592	57	623	680
Staff costs	65,718	-	65,718	13,336	5,362	18,698
Light, heat & power	8,883	-	8,883	7,212	-	7,212
Volunteers’ expenses (incl	633	-	633	-	-	-
refreshments)
	136,088	6,299	142,387	46,066	10,419	56,485
Support costs (note 7)	16,989	1,243	18,232	4,278	701	4,979
Governance costs (note 8)	1,223	-	1,223	739	48	787
	154,300	7,742	161.842	51,083	11,168	62,251

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7 Support Costs		2022			2021
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	Funds	Funds	funds	funds	funds
	£	£	£	£	£	£
Printing, postage & stationery	14	-	14	110	-	110
Telephone & internet	618	-	618	690	-	690
IT costs	540	-	540	316	-	316
Repairs & maintenance	157	-	157	89	-	89
Marketing, PR & website	2,262	-	2,262	445	-	445
Travelling & motor expenses	36	-	36	75	-	75
Cleaning	401	-	401	109	-	109
Safety & first aid	886	-	886	1,031	-	1,031
Franchise fee	190	-	190	140	-	140
Sundry expenses	855	-	853	33	-	33
Training	222	-	222	-	-	-
Fixtures & fittings (moveable)	100	-	100	-	-	-
Water supply	8,000	-	8,000	-	-	-
Merchants’ charges	779	-	779	307	-	307
Bank charges	40	-	40	-	-	-
Payroll services	228	-	228	54	-	54
Provision for doubtful debts	(96)	-	(96)	96	-	96
Equipment Depreciation	1,757	1,243	3,000	783	701	1,484
	16,989	1,243	18,232	4,278	701	4,979

8 Governance Costs

8 Governance Costs		2022				2021
	Unrestricted	Restricted		Total	Unrestricted	Restricted	Total
	funds	funds		Funds	funds	funds	funds
	£	£		£	£	£	£
Business insurance	723		-	723	439	48	487
Independent Examiners fee	500		-	500	300	-	300
	1,223		-	1,223	739	48	787

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period (2021 – none).

10 Employees

The charity had, on average, 2 employees during the year (2021 - 1).

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11 Tangible Fixed Assets	31	March 2022		31 March 2021	31 March 2021
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds	funds	funds	funds	funds
	£	£	£	£	£	£
Cost:
Additions in period	953	4,250	5,203	-	25,195	25,195
Balance brought forward	12,554	28,700	41,254	12,554	3,505	16,059
Total	13,507	32,950	46,457	12,554	28,700	41,254
Depreciation:
Provision for period	3,187	8,272	11,459	2,943	2,519	5,462
Balance brought forward	4,476	2,986	7,462	1,533	467	2,000
Total	7,663	11,258	18,921	4,476	2,986	7,462
Net Book Value at start of	8,078	25,714	33,792	11,021	3,038	14,059
period
Net Book Value at end of	5,844	21,692	27,536	8,078	25,714	33,792
period
	31	March 2022		31 March 2021
	Plant &	Motor	Total	Plant &	Motor	Total
	Machinery,	vehicles		Machinery,	vehicles
	etc			etc
	£	£	£	£	£	£
Cost:
Additions in period	5,203		5,203	-	25,195	25,195
Balance brought forward	7,419	33,835	41,254	7,419	8,640	16,059
Total	12,622	33,835	46,457	7,419	33,835	41,254
Depreciation:
Provision for period	3,000	8,459	11,459	1,484	3,978	5,462
Balance brought forward	2,404	5,058	7,462	920	1,080	2,000
Total	5,404	13,517	18,921	2,404	5,058	7,462
Net Book Value at start of	5,015	28,777	33,792	6,499	7,560	14,059
period
Net Book Value at end of	7,218	20,318	27,536	5,015	28,777	33,792
period

12 Stocks	31 March 2022	31 March 2021
	£	£
Stock of consumable items	795	764
13 Debtors	31 March 2022	31 March 2021
Amounts falling due within one	£	£
year:
Trade debtors	19,555	20,577
Other debtors	2,281	6,305
Total	21,836	26,882

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14 Creditors	31 March 2022	31 March 2021
	£	£
Creditors: amounts falling due within one year
Trade creditors	-	37
VAT	4,276	-
Other creditors	398	428
Accrued expenses	9,126	3,178
Deferred Income	7,826	6,299
Total	21,626	9,942
Creditors: amounts falling
due after more than one year
Deferred Income	16,315	21,133
Total	16,315	21,133

15 Rent free accommodation

The charity currently benefits from rent free accommodation, which includes a workshop, a retail area, and a storage area. The charity has been advised that the present agreement, which ends on 31 March 2023 is likely to be extended by one year.

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