Southampton Scrape Store FY 2024
## **Southampton Scrap Store** Charity No 292075
## **Trustee Annual Report – Financial Year 2024**
## **Trustees’ Annual Report**
(Prepared in accordance with the Charities SORP (FRS 102))
## **Reference and Administrative Details of the Charity**
## **Structure, Governance and Management**
During the year, the Trustees experienced ongoing operational and governance challenges, particularly in relation to access to the charity’s systems and bank accounts. For a significant period, the Trustees did not have access to the charity’s email accounts, as these were not relinquished by a former o�ice holder. This restricted the Trustees’ ability to communicate e�ectively with members and volunteers and impacted day-to-day management.
The Trustees also encountered continuing di�iculties in obtaining access to the charity’s CAF Bank account. These issues limited the Trustees’ ability to exercise full and timely financial oversight during the year.
## **Objectives and Activities**
The charity’s objectives continued to focus on serving the local community through the operation of the charity shop and the provision of a community resource for the recycling and reuse of craft supplies, delivering both social and environmental benefit.
During the year, the charity increased its community engagement by promoting the recycling of craft supplies. This resulted in a significant increase in donated materials. Due to the volume of donations received, the Trustees approved expenditure on a small storage container to ensure that donated items could be stored safely and appropriately.
## **Achievements and Performance**
Despite operational challenges, the charity maintained a visible presence within the community and continued to provide public benefit through its recycling activities.
However, the charity experienced a reduction in membership during the year. The Trustees believe this was primarily due to administrative and communication di�iculties rather than a reduction in community interest.
1
Southampton Scrape Store FY 2024
The charity also experienced a loss of volunteers. As the charity shop requires a minimum of three volunteers to operate safely at any one time, this shortage resulted in a reduction in the number of days the shop could open. Consequently, the shop’s opening days were reduced from three days per week to two days, operating on Tuesdays only.
## **Financial Review**
The charity’s Co-operative Bank account was used to manage cash takings from the shop till. Cash receipts were reconciled to bank deposits on a regular basis, and no discrepancies were identified.
During the year, certain operating costs increased, including telephone expenses. Due to restricted access to relevant systems and contractual arrangements, the Trustees were unable to review, amend, or renegotiate these costs at the appropriate time.
## **Reserves Policy**
The Trustees keep the level of reserves under review to ensure that the charity can meet its ongoing commitments and respond to unforeseen circumstances, simply put the Charity had no access to the CAF bank making it impossible to spend money on DBS checks and were limited to setting up events for the public.
## **Plans for Future Periods**
The Trustees are actively working to restore full access to all systems and bank accounts, improve governance arrangements, rebuild volunteer capacity, and strengthen operational controls. These actions are intended to improve communication with members, enhance financial oversight, and support the charity’s long-term sustainability.
## **Statement of Trustees’ Responsibilities**
statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 and the Charities SORP.
2
Southampton Scrap Store
Balance Sheet As at 31st March 2024
||FY2024|FY2024|FY2023|FY2023|
|---|---|---|---|---|
|Fixed Assest|||||
|Motor Vehicle||1,672.10|£|2,786.84
|
|Current Assets|||||
|CAF Bank Balance 31.03.2024|£|53,077.87
|£|46,416.57
|
|Co op Bank Balance 31.03.2024|£|9,591.36
|£|6,363.26
|
|Debtors|£|-
|£|-
|
|Stock|£|-
|£|-
|
|Total Assets|£|64,341.33
|£|55,566.67
|
|Current Liabilities|£|-
|£|-
|
|Trade Creditors|£|-
|£|-
|
|Tax and other Creditors|£|-
|£|-
|
|Total Liabilities|£|-
|£|-
|
|Income and Expenditure Accounts|||||
|Balance brought forward|£|55,566.67
|£|36,165.79
|
|Add Excess of Income over Expenditure for the Year|£|8,774.67
|£|19,400.88
|
|Total Equity|£|64,341.34
|£|55,566.67
|
Southampton Scrap Store
|Southampton Scrap Store
Income Statement
As at 31st March 2024
Income
FY2024
Sales
27,382.92
£
Fund Raising
-
£
Grant
1,010.39
£
Bank interest Recevied
73.97
£
Total
28,467.28
£
Cost of Goods sold ( suppliers)
-
£
Depreciation
1,114.73
£
Previous Audit and Accountancy Fees
-
£
Cleaning & Waste Collection
826.67
£
Employers NI
-
£
General Expenses
343.90
£
Insurance
1,333.14
£
Bank Fee
60.00
£
IT software
1,562.46
£
Legal Expense
-
£
Light, Heating
349.99
£
Motor Expenses
430.00
£
Pensions Costs
-
£
Printing and stationery
7.50
£
Rent and Rates
12,140.59
£
Repairs and Maintenance
-
£
Salaries
-
£
Staff Training
-
£
Subscriptions
-
£
Telphone and Internet
1,211.06
£
Water
312.57
£
Total cost overheads
19,692.61
£
Excess income over Expenditure
8,774.67
£|FY2023
41,544.96
£
18.97
£
-
£
57.78
£
41,621.71
£
165.60
£
1,857.89
£
199.98
£
518.16
£
-
£
240.55
£
658.70
£
72.00
£
2,370.83
£
1,108.15
£
954.91
£
-
£
5.98
£
12,910.47
£
-
£
-
£
-
£
-
£
977.27
£
180.34
£
22,220.83
£
19,400.88
£|
|---|---|
Ind¥pendont Examlner's Report to the Trustee¥
Charlty name: Southampton Scrap Stor6
Forthe year ended- 37S( March 2023
R88pa¢tive re$ponslbllltles of trustoé$ and ex¥miner
As the chariiy's trustees, you are responsible lor the preparatlon of the accounr8 and tor
ensuring thai they are prepared In accor(Jance with the Charities Act 2011 1"Ihe Act") an¢
applicable regul81ions. You are also responsible lor such iniern81 control os you deiermin8
is necessary to en8ble the preparation of accounts that are Ire¢ from material
misstatement.
My responsibility is to examin6 the accounts in accord8n¢e wlth Sèctitsn 43121 ol th8
Ch8rlties Aci 2011 (independent tX8min8tionl and to stele wheiher any matters have
come to my aiiention as a result of my review. In ¢Jrrylng out ttte examination, I have
followed the Dlrectlons given by itte Cttarity Commission under (he Act ICC321.
84$5$ of Indopendent examiner's report
My exgminalion was carried out in accordance with the Charily Commission's Directions
and guid8nce for independeni gxaminers ICC321. The examin8lion includes 8 review tsl the
8¢counting records kept by Ihe charity and 8 comparison ol ihe eccounts presented with
those re¢ords. It also includes consideration ol any unusual items or disclosures in the
a¢¢ounts and seeks explanations from the trustees concerning any such motters. The
procedure5 undertaken do not provide ell the evidence required in an audit 8nd.
consequently, I do not express an au¢Jit opinion on the accounts. lasscts.pub...Ice,gov.ukl,
tgov.ukl
Indepgndencestatement
I confirm that l am independent of the charity and its trusiees and Ih8t l am not a relatlv
or a closgly connacted person to any trustee. I have had no involvement in ihe day-to.day
management or 8dminisiration of the charity and l am satisfied th81 no conflict ol interest
exists which would inhibit the impartial conduct ol this examination.
19&5ol&wub_ioe.gov.ukJ, li¢aew,¢oml
S¢opo and oppllcable roportlng framework
The charity meets the criterig for ind8pen(Jent examination and does not require 8
stalulory audit for this reportlng period,. theretore. an independent examination has been
carried out in 8ccordance with Sectlon 43121 of the Charities Act 2011 aiid the Cnarity
Commission's Dirèctlons {CC321. Where ielevanl, the Charity Commission's Re¢eipt$ &
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