PRECIOUS TREASURE FURNITURE C.I.C.

Company limited by guarantee

Company Registration Number:
13795129 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

PRECIOUS TREASURE FURNITURE C.I.C.

Contents of the Financial Statements

for the Period Ended 31 December 2024

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

PRECIOUS TREASURE FURNITURE C.I.C.

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 104,759 140,170
Cost of sales: ( 2,851 ) ( 9,591 )
Gross profit(or loss): 101,908 130,579
Distribution costs: ( 18,598 ) ( 11,773 )
Administrative expenses: ( 98,961 ) ( 122,779 )
Other operating income: 0 0
Operating profit(or loss): (15,651) (3,973)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (15,651) (3,973)
Tax: 0 0
Profit(or loss) for the financial year: (15,651) (3,973)

PRECIOUS TREASURE FURNITURE C.I.C.

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 11,032 12,653
Investments:   0 0
Total fixed assets: 11,032 12,653
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 1,134 1,714
Investments:   0 0
Total current assets: 1,134 1,714
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 27,817 ) ( 18,340 )
Net current assets (liabilities): (26,683) (16,626)
Total assets less current liabilities: (15,651) ( 3,973)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (15,651) (3,973)
Members' funds
Profit and loss account: (15,651) ( 3,973)
Total members' funds: ( 15,651) (3,973)

The notes form part of these financial statements

PRECIOUS TREASURE FURNITURE C.I.C.

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 30 September 2025
and signed on behalf of the board by:

Name: Olu Emeka Akinpelu
Status: Director

The notes form part of these financial statements

PRECIOUS TREASURE FURNITURE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

PRECIOUS TREASURE FURNITURE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

    We have approximately 10 volunteers.

PRECIOUS TREASURE FURNITURE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 3,200 12,000 15,200
Additions
Disposals
Revaluations
Transfers
At 31 December 2024 3,200 12,000 15,200
Depreciation
At 1 January 2024 675 1,872 2,547
Charge for year
On disposals
Other adjustments 675 946 1,621
At 31 December 2024 1,350 2,818 4,168
Net book value
At 31 December 2024 1,850 9,182 11,032
At 31 December 2023 2,525 10,128 12,653

PRECIOUS TREASURE FURNITURE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 7,032
Other creditors 27,817 11,308
Total 27,817 18,340

COMMUNITY INTEREST ANNUAL REPORT

PRECIOUS TREASURE FURNITURE C.I.C.

Company Number: 13795129 (England and Wales)

Year Ending: 31 December 2024

Company activities and impact

The activities of Precious Treasure Furniture C.I.C (PTF) have benefited the local community in a variety of ways. By way of providing affordable furniture to schools, children charities, hospitals, care homes, and other charitable organisations. PTF has paved the way for volunteers of all age-ranges, from young adults to the more mature, to gain much work experience. These include; assisting furniture deliveries & collections, administration, sales & advertising, updating online adverts and furniture repair and cleaning. This has provided them with a portfolio of training and practical hands-on work experience, which has boosted their confidence; some going on to gain employment in the community. PTF has hosted and funded summer and half-term programmes for young people (aged 10-18), including on & offsite sporting activities, gifts & talents evenings and workshops. Young children’s (aged 2-9) monthly activities evening, facilitating music workshops, cooking and arts & crafts. These also include one-to-one and group music lessons in piano, drums, acoustic guitar and recorder. Transportation services are available for vulnerable adults including the elderly, people with disabilities, and those with mental health issues to attend community events. For wheelchair users - PTF has an inbuilt ramp on the premises to provide disabled access. We have also held individual group sessions for young people, gender focused activities and life skills training. In addition to the life-skills training sessions, there is also a life-skills manual available, and signposting for anyone seeking advice and support within community, mother and baby groups, debt and financial advice, emergency housing for the homeless, and support for housing and accommodation needs. We also held a subsidised residential visit to East Sussex attended by 48 people. The residential comprised of a range of team building and personal development activities for young people and the elderly alike, which allowed for collaboration, sharing, exploration and empowerment. The trip also provided an opportunity for the development of a major ongoing music project involving a large portion of attendees. Videography, instrumentation and singing were just some of the aspects of the project which were made available. We have also held community outreach events involving stalls and offering one-to-one support. An example of this is the monthly outreach to parents that visit our North End, Croydon stall, asking for advice in supporting their teenage children, when they see our youth teaching materials. We then signpost them in our youth sessions and share information about the topics the young people are being supported with, such as coping with peer pressure, drugs, bullying and issues relevant to what young people are experiencing today in our local community. This work has also facilitated the building of bridges between youth and parents due to culture conflict.

Consultation with stakeholders

PTF stakeholders are members of the community, and church members who have given input for setting up and running the company. Consultation takes place by way of monthly meetings, verbal presentations re financial reports to beneficiaries, alongside texts, and announcements. Feedback is gathered from evaluations of specific events, and responses are used to shape the content of future programmes and the approach in delivering the activities. We continue to liaise with parents and young people during social evenings. Resulting in greater involvement of parents and carers, and more initiatives for outreach work within the local community led by the young people themselves. For example, young people have assisted in the organisation of our youth summer programme and community outreach event. The youth are also encouraged to use a suggestion box; the contents of which are regularly reviewed.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
30 September 2025

And signed on behalf of the board by:
Name: Olu Emeka Akinpelu
Status: Director