|
Company Limited by Guarantee
|
|
|
|
Company Limited by Guarantee
|
Financial Statements
|
Page
|
|
Trustees' Annual Report (Incorporating the Directors' Report)
|
1
|
Independent Auditor's Report to the Members
|
8
|
Statement of Financial Activities (Including Income and Expenditure Account)
|
13
|
Statement of Financial Position
|
14
|
Statement of Cash Flows
|
15
|
Notes to the Financial Statements
|
16
|
|
Company Limited by Guarantee
|
Trustees' Annual Report (Incorporating the Directors' Report)
|
Registered charity name
|
|
Charity registration number
|
|
Company registration number
|
|
Principal office and registered
|
7 - 21 Alexander Street
|
office
|
Dysart
|
Fife
|
|
KY1 2XX
|
|
|
||
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||
|
||
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||
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(Resigned
|
|
Auditor
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Chartered Accountants & Statutory Auditor
|
|
18 North Street
|
|
Glenrothes
|
|
Fife
|
|
KY7 5NA
|
|
Bankers
|
|
60 High Street
|
|
Leven
|
|
Fife
|
|
KY8 4NA
|
|
Solicitors
|
|
Crescent House
|
|
Carnegie Campus
|
|
Enterprise Way
|
|
Dunfermline
|
|
Fife
|
|
KY11 8GR
|
|
|
|
40 Torphichen Street
|
|
Edinburgh
|
|
Scotland
|
|
EH3 8JB
|
|
|
Company Limited by Guarantee
|
Independent Auditor's Report to the Members of
|
|
(Senior Statutory Auditor)
|
For and on behalf of
|
|
Chartered Accountants & Statutory Auditor
|
18 North Street
|
Glenrothes
|
Fife
|
KY7 5NA
|
|
Company Limited by Guarantee
|
Statement of Financial Activities
|
(including income and expenditure account)
|
2022
|
2021
|
|||
Unrestricted funds
|
Restricted funds
|
Total funds
|
Total funds
|
|
Note
|
£
|
£
|
£
|
£
|
Donations and legacies
|
5
|
|
–
|
|
|
Charitable activities
|
6
|
|
|
|
|
Other trading activities
|
7
|
|
–
|
|
|
Investment income
|
8
|
|
–
|
|
|
-----------
|
---------
|
-----------
|
-----------
|
||
Total income
|
|
|
|
|
|
-----------
|
---------
|
-----------
|
-----------
|
||
Expenditure on charitable activities
|
9,10
|
|
|
|
|
-----------
|
---------
|
-----------
|
-----------
|
||
Total expenditure
|
|
|
|
|
|
-----------
|
---------
|
-----------
|
-----------
|
||
-----------
|
---------
|
-----------
|
-----------
|
|
Net income/(expenditure)
|
|
(
|
|
(
|
-----------
|
---------
|
-----------
|
-----------
|
|
Transfers between funds
|
6,886
|
(6,886)
|
–
|
–
|
Gains/(losses) on investments
|
(
17,687)
|
–
|
(
17,687)
|
50,747
|
-----------
|
---------
|
-----------
|
-----------
|
|
Net movement in funds
|
|
(
|
|
|
Total funds brought forward
|
|
|
|
|
-----------
|
---------
|
-----------
|
-----------
|
|
Total funds carried forward
|
|
|
|
|
-----------
|
---------
|
-----------
|
-----------
|
|
|
Company Limited by Guarantee
|
Statement of Financial Position
|
2022
|
2021
|
||
Note
|
£
|
£
|
£
|
Tangible fixed assets
|
16
|
|
|
|
Investments
|
17
|
|
|
|
-----------
|
-----------
|
|||
|
|
|||
Stocks
|
18
|
|
|
|
Debtors
|
19
|
|
|
|
Cash at bank and in hand
|
|
|
||
-----------
|
-----------
|
|||
|
|
|||
Creditors: amounts falling due within one year
|
20
|
|
|
|
-----------
|
-----------
|
|||
Net Current Assets
|
|
|
||
-----------
|
-----------
|
|||
Total Assets Less Current Liabilities
|
|
|
||
-----------
|
-----------
|
|||
Net Assets
|
|
|
||
-----------
|
-----------
|
|||
Restricted funds
|
|
|
||
Unrestricted funds
|
|
|
||
-----------
|
-----------
|
|||
Total charity funds
|
22
|
|
|
|
-----------
|
-----------
|
|||
|
Company Limited by Guarantee
|
Statement of Cash Flows
|
2022
|
2021
|
|
£
|
£
|
|
Net income/(expenditure)
|
228,016
|
(19,977)
|
Adjustments for:
|
||
Depreciation of tangible fixed assets
|
|
|
Dividends, interest and rents from investments
|
(14,549)
|
(4,304)
|
Other interest receivable and similar income
|
(
|
(
|
Interest payable and similar charges
|
|
|
Accrued (income)/expenses
|
(
|
|
Changes in:
|
||
Stocks
|
(
|
|
Trade and other debtors
|
(
|
(
|
Trade and other creditors
|
|
|
-----------
|
---------
|
|
Cash generated from operations
|
|
(
|
Interest paid
|
(
|
(
|
Interest received
|
|
|
-----------
|
---------
|
|
Net cash from/(used in) operating activities
|
|
(
|
-----------
|
---------
|
|
Dividends, interest and rents from investments
|
14,549
|
4,304
|
Purchase of tangible assets
|
(
|
–
|
Purchases of other investments
|
(
|
(4,304)
|
-----------
|
---------
|
|
Net cash used in investing activities
|
(
|
–
|
-----------
|
---------
|
|
Net Increase/(Decrease) in Cash and Cash Equivalents
|
|
(
|
Cash and Cash Equivalents at Beginning of Year
|
212,289
|
225,244
|
-----------
|
-----------
|
|
Cash and Cash Equivalents at End of Year
|
|
|
-----------
|
-----------
|
|
|
Company Limited by Guarantee
|
Notes to the Financial Statements
|
Fixtures and fittings
|
-
|
25% reducing balance and straight line over 3 years
|
|
Motor vehicles
|
-
|
|
|
Office equipment
|
-
|
|
|
Leasehold improvements
|
-
|
|
|
Unrestricted Funds
|
Total Funds 2022
|
Unrestricted Funds
|
Total Funds 2021
|
||
£
|
£
|
£
|
£
|
||
Donations
|
3,313
|
3,313
|
434
|
434
|
|
--------
|
--------
|
-----
|
-----
|
||
Unrestricted Funds
|
Restricted Funds
|
Total Funds 2022
|
||
£
|
£
|
£
|
||
Furniture sales: Dysart
|
375,528
|
–
|
375,528
|
|
Furniture sales: Dunfermline
|
227,862
|
–
|
227,862
|
|
Online sales
|
19,047
|
–
|
19,047
|
|
Housing vouchers
|
113
|
–
|
113
|
|
House clearances
|
25,577
|
–
|
25,577
|
|
Free of charge sales
|
28,000
|
–
|
28,000
|
|
Tax reclaimed - Gift aid
|
31,120
|
–
|
31,120
|
|
Fife Council XL sales
|
80,288
|
–
|
80,288
|
|
Robertson Trust
|
24,000
|
–
|
24,000
|
|
HMRC - Job Retention Scheme
|
5,887
|
–
|
5,887
|
|
Fife Council - Business Support
|
–
|
–
|
–
|
|
Business Gateway - Covid-19 Support
|
15,000
|
–
|
15,000
|
|
John Lewis Partnership
|
5,140
|
–
|
5,140
|
|
Co-op Community Fund
|
–
|
–
|
–
|
|
Foundation Scotland
|
–
|
4,654
|
4,654
|
|
STV Fund
|
–
|
–
|
–
|
|
Bank of Scotland
|
–
|
–
|
–
|
|
Corra Foundation
|
–
|
–
|
–
|
|
WEEE Fund
|
–
|
–
|
–
|
|
Zero Waste
|
–
|
–
|
–
|
|
FVA Mental Health
|
–
|
9,285
|
9,285
|
|
HMRC - SSP Grant
|
713
|
–
|
713
|
|
Adapt & Thrive
|
74,839
|
–
|
74,839
|
|
-----------
|
---------
|
-----------
|
||
|
|
|
||
-----------
|
---------
|
-----------
|
||
Unrestricted Funds
|
Restricted Funds
|
Total Funds 2021
|
||
£
|
£
|
£
|
||
Furniture sales: Dysart
|
163,712
|
–
|
163,712
|
|
Furniture sales: Dunfermline
|
100,478
|
–
|
100,478
|
|
Online sales
|
15,753
|
–
|
15,753
|
|
Housing vouchers
|
–
|
–
|
–
|
|
House clearances
|
15,075
|
–
|
15,075
|
|
Free of charge sales
|
20,381
|
–
|
20,381
|
|
Tax reclaimed - Gift aid
|
15,359
|
–
|
15,359
|
|
Fife Council XL sales
|
63,912
|
–
|
63,912
|
|
Robertson Trust
|
24,000
|
–
|
24,000
|
|
HMRC - Job Retention Scheme
|
125,931
|
–
|
125,931
|
|
Fife Council - Business Support
|
24,000
|
–
|
24,000
|
|
Business Gateway - Covid-19 Support
|
12,000
|
–
|
12,000
|
|
John Lewis Partnership
|
2,997
|
–
|
2,997
|
|
Co-op Community Fund
|
–
|
1,243
|
1,243
|
|
Foundation Scotland
|
–
|
9,136
|
9,136
|
|
STV Fund
|
–
|
2,000
|
2,000
|
|
Bank of Scotland
|
–
|
8,300
|
8,300
|
|
Corra Foundation
|
–
|
23,764
|
23,764
|
|
WEEE Fund
|
–
|
4,000
|
4,000
|
|
Zero Waste
|
–
|
1,000
|
1,000
|
|
FVA Mental Health
|
–
|
–
|
–
|
|
HMRC - SSP Grant
|
–
|
–
|
–
|
|
Adapt & Thrive
|
–
|
–
|
–
|
|
-----------
|
---------
|
-----------
|
||
|
|
|
||
-----------
|
---------
|
-----------
|
||
Unrestricted Funds
|
Restricted Funds
|
Total Funds 2022
|
||
£
|
£
|
£
|
||
Community Cafe income
|
–
|
–
|
–
|
|
Employee training support
|
43,335
|
–
|
43,335
|
|
---------
|
-----
|
---------
|
||
|
–
|
|
||
---------
|
-----
|
---------
|
||
Unrestricted Funds
|
Restricted Funds
|
Total Funds 2021
|
||
£
|
£
|
£
|
||
Community Cafe income
|
5
|
–
|
5
|
|
Employee training support
|
–
|
24,678
|
24,678
|
|
-----
|
---------
|
---------
|
||
|
|
|
||
-----
|
---------
|
---------
|
||
Unrestricted Funds
|
Total Funds 2022
|
Unrestricted Funds
|
Total Funds 2021
|
||
£
|
£
|
£
|
£
|
||
Income from listed investments
|
14,549
|
14,549
|
4,304
|
4,304
|
|
Bank interest receivable
|
41
|
41
|
343
|
343
|
|
---------
|
---------
|
--------
|
--------
|
||
|
|
|
|
||
---------
|
---------
|
--------
|
--------
|
||
Unrestricted Funds
|
Restricted Funds
|
Total Funds 2022
|
||
£
|
£
|
£
|
||
Furniture sales
|
684,467
|
15,834
|
700,301
|
|
Support costs
|
59,974
|
–
|
59,974
|
|
-----------
|
---------
|
-----------
|
||
|
|
|
||
-----------
|
---------
|
-----------
|
||
Unrestricted Funds
|
Restricted Funds
|
Total Funds 2021
|
||
£
|
£
|
£
|
||
Furniture sales
|
580,982
|
51,040
|
632,022
|
|
Support costs
|
50,760
|
–
|
50,760
|
|
-----------
|
---------
|
-----------
|
||
|
|
|
||
-----------
|
---------
|
-----------
|
||
Activities undertaken directly
|
Support costs
|
Total funds 2022
|
Total fund 2021
|
||
£
|
£
|
£
|
£
|
||
Furniture sales
|
700,301
|
42,675
|
742,976
|
669,433
|
|
Governance costs
|
–
|
17,299
|
17,299
|
13,349
|
|
-----------
|
---------
|
-----------
|
-----------
|
||
|
|
|
|
||
-----------
|
---------
|
-----------
|
-----------
|
||
Analysis of support costs
|
Total 2022
|
Total 2021
|
||
£
|
£
|
£
|
||
General office
|
42,518
|
42,518
|
36,926
|
|
Finance costs
|
157
|
157
|
485
|
|
Governance costs
|
17,299
|
17,299
|
13,350
|
|
---------
|
---------
|
---------
|
||
59,974
|
59,974
|
50,761
|
||
---------
|
---------
|
---------
|
||
2022
|
2021
|
|
£
|
£
|
|
Depreciation of tangible fixed assets
|
7,230
|
11,422
|
Operating lease rentals
|
96,831
|
84,932
|
---------
|
---------
|
|
2022
|
2021
|
|
£
|
£
|
|
Fees payable for the audit of the financial statements
|
|
|
--------
|
--------
|
|
2022
|
2021
|
|
£
|
£
|
|
Wages and salaries
|
|
|
Social security costs
|
|
|
Employer contributions to pension plans
|
6,565
|
6,207
|
-----------
|
-----------
|
|
|
|
|
-----------
|
-----------
|
|
Fixtures and fittings
|
Motor vehicles
|
Equipment
|
Leasehold improvement
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
|
Cost
|
|||||
At 1 Apr 2021
|
|
|
34,707
|
98,693
|
|
Additions
|
|
–
|
–
|
–
|
|
---------
|
---------
|
---------
|
---------
|
-----------
|
|
At 31 Mar 2022
|
|
|
34,707
|
98,693
|
|
---------
|
---------
|
---------
|
---------
|
-----------
|
|
Depreciation
|
|||||
At 1 Apr 2021
|
|
|
32,508
|
95,159
|
|
Charge for the year
|
|
|
545
|
2,843
|
|
---------
|
---------
|
---------
|
---------
|
-----------
|
|
At 31 Mar 2022
|
|
|
33,053
|
98,002
|
|
---------
|
---------
|
---------
|
---------
|
-----------
|
|
Carrying amount
|
|||||
At 31 Mar 2022
|
|
|
1,654
|
691
|
|
---------
|
---------
|
---------
|
---------
|
-----------
|
|
At 31 Mar 2021
|
|
|
2,199
|
3,534
|
|
---------
|
---------
|
---------
|
---------
|
-----------
|
|
Other investments
|
|
£
|
|
Cost or valuation
|
|
At 1 Apr 2021
|
245,963
|
Additions
|
14,549
|
Fair value movements
|
(17,687)
|
-----------
|
|
At 31 Mar 2022
|
242,825
|
-----------
|
|
Impairment
|
|
At 1 Apr 2021 and 31 Mar 2022
|
–
|
-----------
|
|
Carrying amount
|
|
At 31 Mar 2022
|
242,825
|
-----------
|
|
At 31 Mar 2021
|
245,963
|
-----------
|
|
2022
|
2021
|
|
£
|
£
|
|
XL goods for resale
|
8,204
|
5,991
|
General stock
|
2,528
|
–
|
---------
|
--------
|
|
|
|
|
---------
|
--------
|
|
2022
|
2021
|
|
£
|
£
|
|
Trade debtors
|
|
|
Prepayments and accrued income
|
|
|
Other debtors
|
|
|
---------
|
---------
|
|
|
|
|
---------
|
---------
|
|
2022
|
2021
|
|
£
|
£
|
|
Trade creditors
|
|
|
Accruals and deferred income
|
|
|
Social security and other taxes
|
|
|
Other creditors
|
|
|
---------
|
---------
|
|
|
|
|
---------
|
---------
|
|
At 1 Apr 2021
|
Income
|
Expenditure
|
Transfers
|
Gains and losses
|
At 31 Mar 2022
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
General funds
|
136,642
|
974,352
|
(743,671)
|
(25,114)
|
(17,687)
|
324,522
|
Contingency reserve
|
–
|
–
|
–
|
240,000
|
–
|
240,000
|
Dysart upgrade
|
189
|
–
|
–
|
–
|
–
|
189
|
Pandemic Emergency
|
220,000
|
–
|
–
|
(220,000)
|
–
|
–
|
Upper showroom heating
|
20,000
|
–
|
–
|
–
|
–
|
20,000
|
Goodwill sales
|
24,000
|
–
|
–
|
12,000
|
–
|
36,000
|
PPE
|
25,000
|
–
|
(770)
|
–
|
–
|
24,230
|
Redundancy costs
|
50,000
|
–
|
–
|
–
|
–
|
50,000
|
-----------
|
-----------
|
-----------
|
-----------
|
---------
|
-----------
|
|
475,831
|
974,352
|
(744,441)
|
6,886
|
(17,687)
|
694,941
|
|
-----------
|
-----------
|
-----------
|
-----------
|
---------
|
-----------
|
|
At 1 Apr 2020
|
Income
|
Expenditure
|
Transfers
|
Gains and losses
|
At 31 Mar 2021
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
General funds
|
128,957
|
588,684
|
(631,742)
|
(4)
|
50,747
|
136,642
|
Contingency reserve
|
–
|
–
|
–
|
–
|
–
|
–
|
Dysart upgrade
|
189
|
–
|
–
|
–
|
–
|
189
|
Pandemic Emergency
|
220,000
|
–
|
–
|
–
|
–
|
220,000
|
Upper showroom heating
|
20,000
|
–
|
–
|
–
|
–
|
20,000
|
Goodwill sales
|
24,000
|
–
|
–
|
–
|
–
|
24,000
|
PPE
|
25,000
|
–
|
–
|
–
|
–
|
25,000
|
Redundancy costs
|
50,000
|
–
|
–
|
–
|
–
|
50,000
|
-----------
|
-----------
|
-----------
|
-----
|
---------
|
-----------
|
|
468,146
|
588,684
|
(631,742)
|
(4)
|
50,747
|
475,831
|
|
-----------
|
-----------
|
-----------
|
-----
|
---------
|
-----------
|
|
At 1 Apr 2021
|
Income
|
Expenditure
|
Transfers
|
Gains and losses
|
At 31 Mar 2022
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
Asset purchases
|
–
|
–
|
–
|
–
|
–
|
–
|
Maintenance Plus
|
1,324
|
–
|
(328)
|
–
|
–
|
996
|
Dysart reorganisation
|
380
|
–
|
(96)
|
–
|
–
|
284
|
Dysart heating upgrade
|
366
|
–
|
–
|
(366)
|
–
|
–
|
Community Cafe
|
546
|
–
|
(89)
|
(187)
|
–
|
270
|
Business Gateway
|
370
|
–
|
(122)
|
–
|
–
|
248
|
Scottish Community Alliance
|
319
|
–
|
–
|
(319)
|
–
|
–
|
Co-op Community Fund
|
1,243
|
–
|
(1,243)
|
–
|
–
|
–
|
Foundation Scotland
|
4,401
|
4,654
|
(9,055)
|
–
|
–
|
–
|
STV Fund
|
–
|
–
|
–
|
–
|
–
|
–
|
Bank of Scotland
|
8,300
|
–
|
(901)
|
–
|
–
|
7,399
|
Corra Foundation
|
5,014
|
–
|
–
|
(5,014)
|
–
|
–
|
WEEE Fund
|
4,000
|
–
|
(4,000)
|
–
|
–
|
–
|
Zero Waste
|
1,000
|
–
|
–
|
(1,000)
|
–
|
–
|
FVA Mental Health
|
–
|
9,285
|
–
|
–
|
–
|
9,285
|
---------
|
---------
|
---------
|
--------
|
-----
|
---------
|
|
27,263
|
13,939
|
(15,834)
|
(6,886)
|
–
|
18,482
|
|
---------
|
---------
|
---------
|
--------
|
-----
|
---------
|
|
At 1 Apr 2020
|
Income
|
Expenditure
|
Transfers
|
Gains and losses
|
At 31 Mar 2021
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
Asset purchases
|
–
|
24,678
|
(24,678)
|
–
|
–
|
–
|
Maintenance Plus
|
1,764
|
–
|
(440)
|
–
|
–
|
1,324
|
Dysart reorganisation
|
504
|
–
|
(124)
|
–
|
–
|
380
|
Dysart heating upgrade
|
375
|
–
|
(9)
|
–
|
–
|
366
|
Community Cafe
|
664
|
–
|
(118)
|
–
|
–
|
546
|
Business Gateway
|
552
|
–
|
(182)
|
–
|
–
|
370
|
Scottish Community Alliance
|
319
|
–
|
–
|
–
|
–
|
319
|
Co-op Community Fund
|
–
|
1,243
|
–
|
–
|
–
|
1,243
|
Foundation Scotland
|
–
|
9,136
|
(4,735)
|
–
|
–
|
4,401
|
STV Fund
|
–
|
2,000
|
(2,004)
|
4
|
–
|
–
|
Bank of Scotland
|
–
|
8,300
|
–
|
–
|
–
|
8,300
|
Corra Foundation
|
–
|
23,764
|
(18,750)
|
–
|
–
|
5,014
|
WEEE Fund
|
–
|
4,000
|
–
|
–
|
–
|
4,000
|
Zero Waste
|
–
|
1,000
|
–
|
–
|
–
|
1,000
|
FVA Mental Health
|
–
|
–
|
–
|
–
|
–
|
–
|
--------
|
---------
|
---------
|
-----
|
-----
|
---------
|
|
4,178
|
74,121
|
(51,040)
|
4
|
–
|
27,263
|
|
--------
|
---------
|
---------
|
-----
|
-----
|
---------
|
|
Unrestricted Funds
|
Restricted Funds
|
Total Funds 2022
|
||
£
|
£
|
£
|
||
Tangible fixed assets
|
12,913
|
1,798
|
14,711
|
|
Investments
|
242,825
|
–
|
242,825
|
|
Current assets
|
483,776
|
16,684
|
500,460
|
|
Creditors less than 1 year
|
(44,573)
|
–
|
(44,573)
|
|
-----------
|
---------
|
-----------
|
||
Net assets
|
694,941
|
18,482
|
713,423
|
|
-----------
|
---------
|
-----------
|
||
Unrestricted Funds
|
Restricted Funds
|
Total Funds 2021
|
||
£
|
£
|
£
|
||
Tangible fixed assets
|
19,164
|
2,433
|
21,597
|
|
Investments
|
245,963
|
–
|
245,963
|
|
Current assets
|
256,995
|
24,830
|
281,825
|
|
Creditors less than 1 year
|
(46,291)
|
–
|
(46,291)
|
|
-----------
|
---------
|
-----------
|
||
Net assets
|
475,831
|
27,263
|
503,094
|
|
-----------
|
---------
|
-----------
|
||
2022
|
2021
|
|
£
|
£
|
|
Financial assets measured at fair value through income and expenditure
|
500,460
|
281,825
|
-----------
|
-----------
|
|
Financial liabilities measured at fair value through income and expenditure
|
44,573
|
46,291
|
---------
|
---------
|
|
At 1 Apr 2021
|
Cash flows
|
At 31 Mar 2022
|
|
£
|
£
|
£
|
|
Cash at bank and in hand
|
|
206,839
|
|
-----------
|
-----------
|
-----------
|
|
2022
|
2021
|
||
£
|
£
|
||
Not later than 1 year
|
|
|
|
Later than 1 year and not later than 5 years
|
|
|
|
Later than 5 years
|
|
|
|
-----------
|
-----------
|
||
|
|
||
-----------
|
-----------
|
||