Join Login

The Perfect Blend of Commercial and Social


FRC Group has produced what is believed to be the first integrated financial and social value report.

As well as producing annual financial accounts, the Liverpool-based social enterprise has produced an award winning Social Impact report for the past 15 years which has always undergone a rigorous audit process but this is the first time the two reports have been brought together in one integrated report, combining financial statements and social value performance.

The report has been independently audited by BDO LLP and contains an audit report on the financial accounts as well as an assurance report on the social value information.

This clearly demonstrates the value FRC Group places on the social impact it creates as well as meeting robust audit standards for the financial performance of the charity.

Graham Morris OBE, Chairman of FRC Group, said: “For the first time our public reporting fully reflects the double bottom line approach that FRC Group takes. Communicating our social value creation alongside our financial performance takes our commitment to transparent and inclusive reporting to the next level. Our finance reporting tells us if we are doing things right whereas our social value reporting tells us if we are doing the right things.”

FRC Group was created as Furniture Resource Centre in 1988, a Liverpool charity formed to help families by redistributing unwanted, good quality furniture to those in need, and social purpose has always been at the heart of everything the charity does.

FRC Group is now a leading UK social business, running commercial businesses that produce financial profits and create a social dividend by giving people in poverty and unemployment the opportunity to change their lives.

Jeremy Nicholls, FRC Group Social Value Committee Chair, CEO SROI Network, said: “Integrating our social and financial reporting is a clear statement that all of this value matters to our stakeholders and that simply looking at commercial performance is not enough.”


Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Support petition to amend the Procurement Bill to enshrine positive…
The Procurement Bill is under Parliamentary scrutiny, with the aim of placing value for money, public benefit, transparency and integrity at the heart…
Social Value UK are proud to announce that our member, Lauren SeBlonka, has achieved Level One Associate Practitioner status. Ahead of this announcement,…
Deloitte join us as Organisational Members!
Social Value UK is proud to announce Deloitte have joined us as a Organisational members! Ahead of their joining, Social Value UK spoke…