Even before the ink is dry on the completion of the lease for our second charity shop we are searching for the next location for a successful Happy Staffie Rescue charity shop.
Our first charity shop has provided invaluable income for the charity during the course of the last ten months. It is a model we hope to replicate in Stourbridge.
If successful Stourbridge will lead us directly into our third charity shop. Time, funds and the availability of our people to offer their services in their own time and entirely voluntarily will determine whether our third charity shop occurs in the calendar year.
Our aim, if all goes to plan is to open the third shop before the end of September. This is an incredibly tight schedule considering that no site has yet been found. Negotiations can drag on for weeks on end but if we find the right property we will pursue it as swiftly as is reasonable.
Ideally we would like to move into Bromsgrove next. We have good support from within the town and it is an appropriate geographical location from our base in Kidderminster.
Tuesday, 15 June 2010
2nd charity shop
We have completed our lease for our second charity shop.
The new charity shop will be located at No.7 Market Street, Stourbridge.
We are due to obtain the keys tomorrow and Mark will begin the intense process of fitting the shop out over the next couple of weeks.
Mark is an asset to the charity not least for his enormous retail experience up to various management positions and of course is years of voluntary charity work. His knowledge is essential in this process as he sources the fixtures and fittings required and builds the interior according to his own design and specifications.
Together we are working to ensure that this process is completed for the least amount of money possible and have already sourced products from four separate specialist suppliers to obtain the best value for the charity.
At this early stage we have a target date of 3 July 2010 as our opening. Whether we go for a soft opening before this will depend on the work required to build the shop.
The new charity shop will be located at No.7 Market Street, Stourbridge.
We are due to obtain the keys tomorrow and Mark will begin the intense process of fitting the shop out over the next couple of weeks.
Mark is an asset to the charity not least for his enormous retail experience up to various management positions and of course is years of voluntary charity work. His knowledge is essential in this process as he sources the fixtures and fittings required and builds the interior according to his own design and specifications.
Together we are working to ensure that this process is completed for the least amount of money possible and have already sourced products from four separate specialist suppliers to obtain the best value for the charity.
At this early stage we have a target date of 3 July 2010 as our opening. Whether we go for a soft opening before this will depend on the work required to build the shop.
Friday, 4 June 2010
Charitable Incorporated Organisation
A new format for forming and running a charity could become a reality in 2011 - the Charitable Incorporated Organisation.
This new format gives charities the security of a legal entity while removing the duplication of the reporting requirements of Companies House. This in theory should cut administration and accounting costs.
However, this is yet to be passed through Parliament and with a new Government with what is almost certain to be a busy parliamentary period the chances of the CIO seeing the light of day could be slim.
When I first of the CIO I thought it was a wise idea, simply for removing the reporting requirement to Companies House. However there is the very real concern over whether the CIO will be quickly recognised as the entity it is. CIO's will still be registered charities, but they will be a "CIO" and this might deter some people. It will be particularly problematic for those charities that sources funds from overseas where the CIO entity will be unknown.
While moving the framework of the charity from a company limited by guarantee (no share capital) to a Charitable Incorporated Organisation is very appealing, the manner in which it has to be undertaken is not. To move from one to the other the registered charity cannot simply fill a form in or press a button. They have to register the new CIO, then wind up the existing company and transfer all the assets to the CIO. For amateurs and volunteers such as ourselves this might be a bridge too far. We could probably engage an accountant or a solicitor to do the work for us, but at what cost?
Time will tell whether the CIO does become a reality and at that time we will consider long and hard over the long term benefits of moving to the new structure.
This new format gives charities the security of a legal entity while removing the duplication of the reporting requirements of Companies House. This in theory should cut administration and accounting costs.
However, this is yet to be passed through Parliament and with a new Government with what is almost certain to be a busy parliamentary period the chances of the CIO seeing the light of day could be slim.
When I first of the CIO I thought it was a wise idea, simply for removing the reporting requirement to Companies House. However there is the very real concern over whether the CIO will be quickly recognised as the entity it is. CIO's will still be registered charities, but they will be a "CIO" and this might deter some people. It will be particularly problematic for those charities that sources funds from overseas where the CIO entity will be unknown.
While moving the framework of the charity from a company limited by guarantee (no share capital) to a Charitable Incorporated Organisation is very appealing, the manner in which it has to be undertaken is not. To move from one to the other the registered charity cannot simply fill a form in or press a button. They have to register the new CIO, then wind up the existing company and transfer all the assets to the CIO. For amateurs and volunteers such as ourselves this might be a bridge too far. We could probably engage an accountant or a solicitor to do the work for us, but at what cost?
Time will tell whether the CIO does become a reality and at that time we will consider long and hard over the long term benefits of moving to the new structure.
Learning the ropes of bookkeeping
There are many learning curves to be navigated with setting up and running a charity for the first time. We chose the company framework at the outset because of the benefits this provided for securing contracts, leases, employing staff, etc as well as providing a legal identity in its own right.
The complication for this is the reporting requirements to both Companies House and the Charity Commission. This means the accounts have to be submitted twice.
That said I have to raise my hat to Tim Pearce at Crump Pearce & Co., our accountants. Their reassuring, down to earth and approachable manner has helped us put our first year accounts together. Their advice has been invaluable and I would not hesitate to recommend their services. Their insight has helped shape the format of my books for the 2010/11 accounting period, which despite my earlier concern actually makes them far easier to work through and understand making the analysis far easier to see.
The complication for this is the reporting requirements to both Companies House and the Charity Commission. This means the accounts have to be submitted twice.
That said I have to raise my hat to Tim Pearce at Crump Pearce & Co., our accountants. Their reassuring, down to earth and approachable manner has helped us put our first year accounts together. Their advice has been invaluable and I would not hesitate to recommend their services. Their insight has helped shape the format of my books for the 2010/11 accounting period, which despite my earlier concern actually makes them far easier to work through and understand making the analysis far easier to see.
Second shop approaching...
After a protracted period of negotiations, a period when all bets were off, the negotiations for our second shop are finally nearing conclusion.
What has compounded our attempt to open this shop is mainly the fact that volunteers can only do their thing (me included) when we're not at work, and when we're not at work is usually when those people who need to speak are also not at work. Needless to say this means an e-mail can take 24 hours to reply to, or phone messages a similar time to respond.
This manner of negotiation while having some advantages also can cause confusion. Every lease we negotiate gives us more experience for the next, and there will be more. Our medium term plan is to open several charity shops as these provide a degree of stable income. The retail side of the charity is also linked to our long-term aim of our own kennels which will take a considerable length of time to become a reality.
As of today final terms seem to have been agreed, a schedule of ingoing condition has been prepared and we not await the final go-ahead from the landlord. Obviously all this is still subject to final lease as it has yet to be presented with the last amendments in place. That said, we hope to be signing the lease during the first half of June.
What has compounded our attempt to open this shop is mainly the fact that volunteers can only do their thing (me included) when we're not at work, and when we're not at work is usually when those people who need to speak are also not at work. Needless to say this means an e-mail can take 24 hours to reply to, or phone messages a similar time to respond.
This manner of negotiation while having some advantages also can cause confusion. Every lease we negotiate gives us more experience for the next, and there will be more. Our medium term plan is to open several charity shops as these provide a degree of stable income. The retail side of the charity is also linked to our long-term aim of our own kennels which will take a considerable length of time to become a reality.
As of today final terms seem to have been agreed, a schedule of ingoing condition has been prepared and we not await the final go-ahead from the landlord. Obviously all this is still subject to final lease as it has yet to be presented with the last amendments in place. That said, we hope to be signing the lease during the first half of June.
Subscribe to:
Posts (Atom)