The Trustees present their report and financial statements for the year ended 31 March 2026.
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 charitable company's Articles of Association, the Companies Act 2006 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 Republic of Ireland (FRS 102) (effective 1 January 2019)".
The charitable company's objects are to help residents of Watford, Three Rivers and the surrounding areas who are in conditions of need, hardship or distress by the provision of furniture and accessories and to provide vocational training, support and work experience for those who volunteer at the scheme.
The charity aims to achieve these objectives by:
Collecting good quantity, donated furniture and other household effects which are no longer required by the owners and would otherwise be destined for landfill. This reduces landfill and is good for the environment by reducing the need for new furniture.
Displaying furniture and household effects so that people in need can choose from these and have them delivered to their home, if desired.
Recruiting and supporting unemployed volunteers, specifically, but not exclusively, people recovering from mental health problems or who have a learning disability. The volunteers are offered training to enable them to gain confidence and learn skills that will prepare them for work, either in furniture restoration or working in the shop and delivery van.
The work of the charity has two complementary activities – the furniture recycling showroom (and associated collection and delivery service) and the provision of training courses and work experience. The objectives for each activity for this year were:
Furniture Recycling:
Increase sales to achieve the aim of making the furniture recycling business self-financing.
Maintain subsidised sales (50%) for those in need at current levels.
Training Courses and Work Experience:
Train students in furniture restoration.
Maintain volunteer programme to fill driver’s mate and showroom assistant positions.
Assist students and volunteers to move into further employment or volunteering roles.
Raise grant income to cover the cost of the courses.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.
The Trustees have considered the Charity Commission guidance on public benefit. The charity relies on grants and income from furniture sales to cover its operational costs. In setting the level of charges for furniture the Trustees consider the accessibility of products for those on low incomes or on benefits.
The charity has three main areas of activity:
The collection of donated good quality preloved second-hand furniture and household goods, saving these items going to landfill and helping the environment and local resources.
The sale and delivery of these goods from our Rickmansworth showroom, at a 50% discount to those in need and at full price to the general public.
Providing training and work experience to unemployed adults, including those with a learning disability or recovering from mental ill health. Training courses are provided in furniture restoration (in the workshop) and many volunteering / work experience roles (in the showroom), as driver’s mates on the delivery van, in the office and in the workshop.
Our volunteers, as always, have been superb:
Administration: Diane Back
Driver’s Mates: Greg Hirst, David Sharpe, Paul Redington, Quentin Cobham and Andrew Blatherwick
Showroom: Steph Busby, Ian Wyatt, Lou Dossett, Valerie Cohen, Brenda Proud, Robert Langford, Liam O’Keefe, Anna Monks, Ed Stanley, Pat McLaren-Smith, Carole Davidge, Carly Churchill, Chloe Johnson, Natalie Merron, Don Milligan and Sergio Mussi.
Refurbishment: Phillip Silverton, Peter Plested, Sue Atkins, Marie Belcher and Sara Jarman.
New starters: Steve Middleton, Nicholas Hay, David Wildes, Georgia Agyekum, Sebastion Catino, Frank Saw, Laurence Davies, Emma Hart, Claire Hay, Constanze Schmidinger, Louise Williams, Ceylan Yazici, Kyle Beck and Graham Chalmers.
Thanks to those volunteers who have now left: Catharine Payne, Robert Langford, Lousie Williams and Sebastian Catino.
All the Trustees also volunteer, helping in the showroom, on the collection and delivery van, PAT Testing and helping with books and the auction houses.
Our volunteers work unstintingly for the benefit of the charity, helping with furniture removal, administration, working in the showroom, furniture restoration and cleaning. The Trustees, who so ably assist in leading the organisation, are also volunteers and our thanks go to them. We would also like to thank all those who donate household goods.
9 Lives Furniture has had another steady year.
The sales have been consistent and we are use social media for awareness and to sell through. We have been selling a few items at Amersham Auctions through Chorleywood Antique shop, who offer us a charity rate. Chorleywood Antique shop has also been purchasing items from us at a better rate than we could achieve in the shop. This has worked well for us; they also provide us with advice on pieces we want to price. We have also sold items of clothing at the Bourne End auction house.
The clothing area has been incredible successful in increasing our clothes and accessories sales.
We had a Christmas raffle this year in the shop, have changed the company that we use for rags.
On 8th June we attended the Croxley ‘Green’ Festival in Croxley, where we had a stall. This was a good promotional event, Peter and Sharon attended a Watford Lions Board meeting to receive a grant.
Sharon has undertaken several presentations, including the Co-Operative Community Fund, Watford, Three Rivers & Dacorum Councils, among others.
We’ve set up a Grants Subcommittee comprising of Sharon, Andrew, Robyn and Paul.
Sharon, some trustees and lots of Sharon’s friends took part in Christmas Wrapping at the Watford Shopping Centre.
Sharon and Jo have continued with ongoing training on Quickbooks, which is reducing the need and expense of Accountant services.
Diane has updated all our Policies and Procedures documents
Sharon secured a £500 reduction in insurance cost for the van, by adding further drivers to the policy.
The smoke alarm system throughout the building has now been linked making it safer for all people in the building. New Fire doors were installed March 2026. A new fuse board has been fitted and updated electrics throughout the building.
We have continued our partnership with Three Rivers District Council proving a voucher system. The scheme has a current balance of £5,998 available for use. Following agreement we are able to purchase white goods using this funding.
Our supervised workshop on Tuesdays, where volunteers work on restoring and upcycling furniture items to be sold in the showroom, these pieces sell at higher prices in the Emporium and are not eligible for discount.
Duke of Edinburgh students working towards their bronze medals are regularly brought into 9 Lives for work experience, plus 2 students from Rickmansworth school, doing their work experience in May 2025.
An extra Workshop course took place, using a grant from Watford & Three Rivers Trust.
We took on a new Bank Team Leader, Chloe Johnson.
We now have a new scanning system for selling books to World of Books. Which is managed by Don, one of our trustees and has increased our earning from books.
Sharon has set up Music Magpie account to sell DVDs & CDs.
The website has been updated by our Trustee, Isabel.
All paid staff completed Fire Training with Don.
In April 2025 we increased our delivery charges for the van in line with the increased cost of fuel.
We continue to promote the charity’s activities through:
Website
Selling of Frenchic chalk paints
Volunteers:
As mentioned above, we continue to offer Duke of Edinburgh scheme placements for students.
New volunteers joining 9 Lives assist in the showroom.
We are grateful for grants and donations this year from:
£100 donation from a customer
£1,000 donation from Batchworth Council
£1,000 donation from West Watford Golf Club
£3,500 grant from the Albert Gubay Trust
£1,250 donation from the Freemasons
£2,286 donation from Gift Wheel
£500 donation from our landlady
£100 donation from another customer
£200 for the workroom, from Rosemary Hadfield
£300 donation from the Freemasons
£500 donation from The Co-Operative Bank
£625 donation from Watford Lions
£1,650 from Three Rivers Sustainability Fund
£20 from The Co-Operative Bank
£42 from Tesco
Waste Reduction
The collection and provision of furniture continues to keep large bulky items out of landfill. This year over 1,789 items of furniture and 18,967 smaller items of clothing, electricals, crafts, Bric a Brac etc. were diverted from landfill whilst providing much needed support to households in need. Our new EPOS system enables us to track items significantly more accurately than in previous years.
Premises
Our premises comply with the Disability Discrimination Act and the building provides access to the ground and first floor for wheelchair users. Our new fire doors allow fast exit from the building in case of emergency.
A summary of the charity’s financial position is attached.
The charity has a number of sources of income, which are in keeping with the charitable objects and activities and include:
Sales of donated goods, including discounted sales for those in need, and increased charges for upcycled furniture
Sales of Frenchic chalk paints
Grants and donations
Gift Aid on donations and sales of donated goods
Voucher with Three Rivers District Council, which has started with £5,000
Bringing in outside tutors to run paid courses in the workshop
Bank interest
Key areas of expenditure are:
Rent and running costs for the furniture showroom, workshop and offices (all in the same building).
The premises provide the opportunity to display and sell furniture, whilst the workshop is used for training courses, also provide volunteering opportunities.
Salaries and staff costs.
Van running costs to operate the collection and delivery service.
Professional costs – preparation of the accounts.
Marketing costs – ongoing publicity to promote the work of the charity and attract customers to the showroom.
Purchasing paint for resale in the shop.
Updating the electrics, new fire doors and new linked smoke alarms.
As a result of good financial controls and budgeting during the year, the charity was able to improve its position this year (surplus - £412) compared to 2025 (deficit - £4,607). The Trustees recognise that there are still challenges in this sector and are working alongside the management and staff to seek new ways to improve the income streams whilst keeping controls over expenditure.
During the year the Trustees have considered the level of the charity’s reserves, in line with the Charity Commission guidelines. The Trustees set a policy that reflects the need to maintain current operations whilst providing for future commitments.
It is the policy of the charity that unrestricted funds, which have not been designated for a specific use, should be maintained at a sufficient level to pay off staff and settle the rent to the next break point in the lease. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in sales income and/or funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The level of reserves is monitored and reviewed four times a year.
Reserves that are not required for day-to-day activities are held in a separate interest-bearing bank account.
During the year the General Manager and Trustees have continued to assess the major risks to which the charity is exposed and have ensured systems are in place to mitigate exposure to such risks.
The Trustees have no plans to make significant changes to the activities of the charity. Our focus for the foreseeable future is on continuing to build on the level of furniture sales and securing grant funding for the training courses.
We aim to achieve this through:
continued promotion of our activities.
continuing to build our online / social media activity including selling items online.
flash sales to help maintain a reasonable turnover of stock.
fundraising programme to generate funding for our training courses.
9 Lives Furniture is a Registered Charity and a company limited by guarantee.
The Trustees, who are also the directors for the purpose of company law, who served during the year were:
An application form to join the board of the 9 Lives Furniture is available for potential Trustees/directors. The board reviews this and potential candidates are invited to the premises in Rickmansworth for a full overview of the running of the scheme. All Trustees, who are also directors, are volunteers and unpaid. Vacancies are advertised through the local Councils for Voluntary Services and in the local paper. Induction training (including working in the showroom) is given by the Chair and the staff to ensure a thorough understanding of the organisation. In addition, training on the role and responsibilities of a Trustee is available.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The charity currently has a Management Committee of ten Trustees, all of whom are volunteers. At any one time there are a minimum of three Trustees with no maximum.
At each Annual General Meeting (AGM) any Trustee who has served for three years must retire from office but may offer themselves for re-election together with any new Trustees who have been co-opted by the Trustees since the last AGM.
The Trustees delegate the day to day running of the charitable company’s operations to the General Manager.
Staff employed by the Trust include:
General Manager: Sharon Hurford
Team Leaders (part time – run the showroom, manage the collection and delivery service and the showroom volunteers): Toni Manning, Rebecca Johnson, Chloe Johnson (Bank worker), Alan Storer
Driver: Alan Storer
Tutor: Peter Plested
Admin assistant: Jo Walker
Our General Manager also maintains relationships with a wide range and variety of organisations, including:
Membership of Reuse network.
Local voluntary services network – W3RT.
Recycling – WasteAware.
Referrals of students and volunteers – Mencap, New Hope Trust, Northwick Day Centre, Ascend, Watford Community Mental Health Team, self-referral.
Referrals of customers in need – Citizens’ Advice Bureau, HertsHelp, Thrive Homes, Watford Community Housing, Paradigm Housing, self-referral, Community Mental Health Teams, Keyworkers, Three Rivers District Council, Watford Rotary Club, Watford Lions and The Co-operative Community Hub.
The charitable company's policy is to consult and discuss with employees, through staff meetings, matters likely to affect employees' interests.
Information of matters of concern to employees are given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the charity's performance.
The Trustees' report was approved by the Board of Trustees.
The Trustees, who are also the directors of 9 Lives Furniture for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the Trustees on my examination of the financial statements of 9 Lives Furniture (the charitable company) for the year ended 31 March 2026.
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charitable company as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
9 Lives Furniture is a private company limited by guarantee incorporated in England and Wales. The registered office is 25 Wharf Lane, Rickmansworth, Hertfordshire, WD3 1HA.
The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 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 Republic of Ireland (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company 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 charitable company. Monetary amounts in these financial 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.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charitable company 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.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Transfers between funds are used where there is an overspend on a particular fund beyond the amount originally funded where the charity has agreed to meet the costs from its unrestricted funds, or where the conditions relevant to the fund have been met and it has previously been agreed with the funder than any remaining funds can be retained by the charity towards it charitable activities.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Assets given for use by the charitable company are recognised when receivable.
Income from the sale of donated goods are accounted for when earned. The value represents the transactional price of the items sold.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit or independent examination fees and costs linked to the strategic management of the charity.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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 bases:
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 the statement of financial activities.
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company 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, 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 financing 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 receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing 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 liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charitable company’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. 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.
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Included within Other Creditors is an amount held by 9 Lives under Three Rivers Furniture Scheme. The purpose of the scheme being the provision of furnishings to qualifying groups. Income is recognised from this Scheme when items are provided. The amount held under this Scheme at the year end was £9,292.50 (2025: £5,000).
The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The Equipment Fund was established from donations received to meet the costs of equipment for the office and warehouse.
The Training Fund was established from donations and grants received in order to cost the cost of training courses, in particular furniture refurbishment.
The Hertfordshire Community Fund grant was to cover the cost of the EPOS system.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2025 - none).