REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Period 1 April 2023 to 30 April 2024 |
for |
Recycling Unit Saving Timber Trust Ltd |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Period 1 April 2023 to 30 April 2024 |
for |
Recycling Unit Saving Timber Trust Ltd |
Recycling Unit Saving Timber Trust Ltd |
Contents of the Financial Statements |
for the Period 1 April 2023 to 30 April 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
Recycling Unit Saving Timber Trust Ltd (Registered number: 06135966) |
Report of the Trustees |
for the Period 1 April 2023 to 30 April 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 April 2023 to 30 April 2024. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objectives of the charity as established in its governing document are: |
Collect suitable household furniture that is saleable and might otherwise go to landfill |
Donate the sales proceeds of this furniture to national medical charities |
Significant activities |
How we achieve our objectives: |
Collecting furniture |
Preparing for sale through our shop in Letchworth |
Once sold donating proceeds to national medical charities |
Public benefit |
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities. |
ACHIEVEMENT AND PERFORMANCE |
In the year, the charity made the following donations. |
£400 Cystic Fibrosis Trust |
FINANCIAL REVIEW |
Reserves policy |
The charity has general reserves of £7,284 as at 30 April 2024. |
The charity's funds are presently held on general investment (or unrestricted basis) and can be spent charitable expenditure within the objects and on day to day costs. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Trustees have taken due regard of the guidance published by the Charities Commission. |
All incoming staff involved in senior positions are made aware of guidance notes and control checklists. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Recycling Unit Saving Timber Trust Ltd (Registered number: 06135966) |
Report of the Trustees |
for the Period 1 April 2023 to 30 April 2024 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
George Hay Partnership LLP |
Chartered Accountants |
Unit 1B |
Focus 4 |
Fourth Avenue |
Letchworth |
Hertfordshire |
SG6 2TU |
CESSATION OF TRADING |
The charitable company ceased activities on 30 April 2024. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Recycling Unit Saving Timber Trust Ltd |
Independent examiner's report to the trustees of Recycling Unit Saving Timber Trust Ltd ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the period 1 April 2023 to 30 April 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Martin Williams ACA FCCA |
George Hay Partnership LLP |
Chartered Accountants |
Unit 1B |
Focus 4 |
Fourth Avenue |
Letchworth |
Hertfordshire |
SG6 2TU |
2 January 2025 |
Recycling Unit Saving Timber Trust Ltd |
Statement of Financial Activities |
for the Period 1 April 2023 to 30 April 2024 |
Period |
1.4.23 |
to | Year Ended |
30.4.24 | 31.3.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds | 2 |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 17,103 |
Recycling Unit Saving Timber Trust Ltd (Registered number: 06135966) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 17,103 |
TOTAL FUNDS | 17,103 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2024. |
The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Recycling Unit Saving Timber Trust Ltd (Registered number: 06135966) |
Balance Sheet - continued |
30 April 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Recycling Unit Saving Timber Trust Ltd |
Notes to the Financial Statements |
for the Period 1 April 2023 to 30 April 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Recycling Unit Saving Timber Trust Ltd |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 April 2024 |
2. | RAISING FUNDS |
Raising donations and legacies |
Period |
1.4.23 |
to | Year Ended |
30.4.24 | 31.3.23 |
£ | £ |
Support costs |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
Period |
1.4.23 |
to | Year Ended |
30.4.24 | 31.3.23 |
£ | £ |
Depreciation - owned assets |
Deficit on disposal of fixed assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the period ended 30 April 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the period ended 30 April 2024 nor for the year ended 31 March 2023. |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
Recycling Unit Saving Timber Trust Ltd |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 April 2024 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
TOTAL FUNDS CARRIED FORWARD | 17,103 |
6. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 31 March 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Accrued expenses |
Recycling Unit Saving Timber Trust Ltd |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 April 2024 |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 30.4.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 17,103 | (9,819 | ) | 7,284 |
TOTAL FUNDS | (9,819 | ) | 7,284 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 4,130 | (13,949 | ) | (9,819 | ) |
TOTAL FUNDS | ( |
) | (9,819 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 20,764 | (3,661 | ) | 17,103 |
TOTAL FUNDS | 20,764 | (3,661 | ) | 17,103 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 6,060 | (9,721 | ) | (3,661 | ) |
TOTAL FUNDS | 6,060 | (9,721 | ) | (3,661 | ) |
Recycling Unit Saving Timber Trust Ltd |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 April 2024 |
10. | RELATED PARTY DISCLOSURES |