**Registered number: 02648892 Charity number: 1005555**
## **The National Communities Resource Centre Limited**
(A Company Limited by Guarantee)
Trustees' Report and Financial Statements
For the 18 month Period Ended 31 March 2021
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Contents**
|||Page|
|---|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**||1|
|**Trustees' Report**||2 - 6|
|**Statement of Trustees' Responsibilities**||7|
|**Independent Auditor's Report on the Financial Statements**||11
8 - 11|
|**Statement of Financial Activities**||12|
|**Balance Sheet**||13|
|**Notes to the Financial Statements**|14 - 33||
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Reference and Administrative Details of the Charity, its Trustees and Advisers For the Period Ended 31 March 2021**
|**Trustees**|M Birkett (appointed 29 January 2021)|
|---|---|
||C Gaskell (appointed 24 November 2020)|
||M Hamilton|
||N Hibbert (appointed 19 December 2019)|
||R McCarthy (resigned 12 August 2021)|
||R Moulds|
||M Pierre|
||E Potter|
||Prof. A Power|
||G Smith (resigned 11 August 2020)|
||D Orr (appointed 9 July 2021)|
||G Smith (resigned 11 August 2020)|
|**Company registered**
**number**
02648892
**Charity registered**
**number**
1005555
**Registered office**
The Foundry
42 Henry Street
Liverpool
England
L1 5AY
**Company secretary**
Prof. A Power
**Independent auditor**
BDO LLP
5 Temple Square
Temple Street
Liverpool
L2 5RH
**Bankers**
NatWest
Liverpool City Office
22 Castle Street
Liverpool
Merseyside
L2 0UP||
Page 1
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Trustees' Report For the Period Ended 31 March 2021**
The Trustees who are also directors of the charity for the purposes of the Companies Act present their report together with the financial statements of the charity for the 18 month period ended 31 March 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The comparative financial statements cover the 18 months ending 30 September 2019.
Legal and administrative information set out on Page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice – Accounting and Reporting by Charities.
## **OBJECTIVES AND ACTIVITIES**
The Charity’s objective is to close the inequality gap that exists in communities across the UK by providing residential training, resources and micro-grants for people living and working in the lowest income communities. The Charity helps people to build the skills and confidence they need to take positive action to tackle problems in their homes and neighbourhoods. The Charity specialises in providing training on community self-help action, families and young people, housing and the environment.
To achieve this the Charity's activities include:
- Developing and running training programmes and courses, hosted at Trafford Hall, owned by the Charity’s parent subsidiary, Regenda Group;
- Co-developing training materials, resources and action plans for participants to use in their own communities after attending training at Trafford Hall;
- Creating networks between communities across the UK to share experiences, learning and resources;
- Providing micro-grants to community groups to kick start grassroots projects in their own communities; and
- Assessing the impact of training on individuals and community groups through feedback and evaluation.
The Trustees are aware of the Charity Commission’s guidance on public benefit (PB1). They consider that the charity's objectives and activities, and their decision-making in relation thereto, are and have been consistent with that guidance.
## **EVENTS DURING THE YEAR**
In March 2020, the Charity’s subsidiary organisation, The Trafford Trading Company Limited (which was formally dissolved on 24 November 2020, paid a dividend of £645,556 to the charity, which was used to offset its outstanding intercompany balances.
In April 2020, the Charity planned to relaunch the National Communities Resource Centre, with a refreshed mission, simpler business model and a new operational partnership with the Youth Hostel Association (YHA). This plan was interrupted by Covid-19 resulting in the YHA unable to progress under a lease arrangement with NCRC. The charity was in a difficult position, with significantly reduced income, no partner, and the ongoing cost of maintaining Trafford Hall (which required an immediate investment of upwards of £500,000). At the same time, loans of just under £400,000 were due to be repaid.
In May 2020 NCRC approached Regenda to explore the option of joining the group as a wholly owned subsidiary. The Regenda Board agreed to progress with the due diligence and adoption of the Charity into the group. It was concluded that Trafford Hall would be transferred to Regenda as a solution to repay outstanding loans and enable the charity to improve cash position and continue as a going concern. Regenda would then finance the investment into Trafford Hall.
NCRC officially incorporated into the Regenda Group on 11th December 2020.
Page 2
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Period Ended 31 March 2021**
## **ACHIEVEMENTS AND PERFORMANCE**
The main achievements of the National Communities Resource Centre over this period are:
- Maintaining the Charity as a going concern;
- Running the Housing Plus Academy, one of the main strands of NCRC’s activities. This provides knowledge exchange and Think Tank events to improve tenants and staff from social landlords’ knowledge of issues that most affect them, such as Universal Credit; Climate Change; the implications of the Grenfell Inquiry. The Charity has continued to run Housing Plus Academy events, temporarily relocated to the London School of Economics (one of our partners), until it is possible to move them back to Trafford Hall;
- Securing funding to sustain our charitable work;
- Seeking to secure a venue partner to run the venue, allowing the Charity to concentrate on the charitable activity;
- Securing a new Director for the Board (Neil Hibbert), and a legal advisor;
- Securing a new Director for the Board Mike Gaskell;
- Securing a new Director for the Board Michael Birkett; and
- Securing a new Director for the Board David Orr.
## **FINANCIAL REVIEW**
The charity receives its principal funding through project funding, grants, donations and sponsorship from a number of statutory and other bodies. Each of these funding streams is used to deliver a mixture of online, day, residential training courses and often offer small action grants directly to the charity’s beneficiaries. In line with the charity’s key objectives, the training and grants are provided primarily to tenants of social housing and workers providing housing services; community volunteers; young people and families to enable them to engage in wider community activity and become more active members of their respective communities. Training is delivered in partnership with delivery bodies and other support organisations, such as local authorities, CICs and voluntary organisations to ensure the charity works collaboratively with other organisations to further our objects.
During 2020, The Housing Plus Academy continued to hold their workshops through an online platform. Trafford Hall remained closed except for some property guardians. In July 2020, Trafford Hall was revalued and written down to £1,000,000, an impairment of £100,000. The asset transferred to Regenda Group on 7th January 2021 for £1,000,000. This was partially used to settle NCRC’s outstanding loans totalling £394,818, which were repaid in full on 23rd December 2020. The remaining balance of £605,182 was deposited to NCRC’s current account on 14 January 2021.
As at 31 March 2021 the charity had funds of £718,890 (Sept 2019: £345,653). £685,998 (Sept 2019: £286,707) in unrestricted funds and £32,892 (Sept 2019: £58,946) in restricted funds.
## _**Fundraising**_
The charity utilises online platforms such as Golden Giving and Charities Aid Foundation (CAF) to receive donations. Any fundraising activities are managed internally in line with the Code of Fundraising Practice standards. The charity does not exchange data with other parties and has not purchased supporter mailing lists.
There have been no complaints made to the charity during the period.
The charity maintains records of all supporters, donors and gifts received and ensures that these records are regularly reviewed and monitored to check that contact with donors is done in line with any preference which they have stated to us. The charity does not carry out active telephone fundraising or mailing campaigns and does not knowingly contact vulnerable individuals or those who have opted out of mailing contact.
Page 3
## **The National Communities Resource Centre Limited**
**(A Company Limited by Guarantee)**
**Trustees' Report (continued) For the Period Ended 31 March 2021**
## _**Reserves polic**_ y
The charity aims to maintain free reserves (being unrestricted funds excluding fixed assets and designated reserves) equivalent to 3 months of annual expenditure. This is deemed to be a sufficient amount required to sustain its operation over any period where some of the income generating activities may be temporarily curtailed. Free reserves currently held by the charity is £685,998. The charity has no designated funds for specific purposes and the reserves are currently held in cash.
## _**Risk management**_
The Trustees carried out a review of the Charity’s activities and examined the major opportunities available to the Charity and the risks to which it is exposed. The primary risks identified through the review were determined to be loss of grant income; ineffective business planning; inadequate insurance cover; national economic downturn; the effect of the COVID-19 pandemic; and catastrophic failure, or Acts of God.
The primary risks described above are controlled through comprehensive management procedures; segregation of fiduciary duties; regular and detailed reporting to Trustees; Rigorous Business Planning approved at Board level; annual and periodic insurance review with advice from brokers (Trustee and Officer indemnity is in place); diversification of income streams and planned growth in earned income. Trustees address the question of risk via the agenda items of board meetings, with issues arising being implemented after detailed discussion and instruction.
- An annual review of the risks which the Charity may face;
- The establishment of systems and procedures to mitigate those risks identified in the review; and
- The implementation of procedures designed to minimise any potential impact on the Charity should any of those risks materialise.
The reserves held by the Charity are deemed to be necessary in order to ensure that the current levels of service are maintained and that adequate sums are available to maintain and replace the assets used by the Charity. The Trustees consider that the current policy of retaining reserves is essential if the Charity is to continue to provide a secure future in the medium term for the Charity at Trafford Hall and also to fund future developments.
## **Going Concern**
The parent company, Regenda Ltd has successfully negotiated a contract with the Youth Hostel Association (YHA) on behalf of Regenda and the Charity, to operate Trafford Hall to help enact its new business model. The agreement allows the Charity to retain its office space and continue to operate all its charitable activities from Trafford Hall. However, due to the ongoing uncertainties surrounding the effects of the economic slowdown because of the Covid-19 pandemic, it is difficult to fully predict the future impact on the charity. Having taken all the factors into account, the Directors are of the opinion that the charity will continue to receive an adequate level of income to meet its anticipated requirements and has prepared the financial statements on a going concern basis.
Page 4
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Period Ended 31 March 2021**
## **FUTURE PLANS**
A new MD was appointed in December (who is also a member of Regenda Ltd Executive team and the Charity has commenced delivery of a 5 year business plan which continues to offer residential programmes to the housing sector, communities, young people, families. These programmes have already commenced with the first residential programme due to occur in August 21. Funding will continue to be secured to grow these programmes. Focus for the first 12 months will include:
- Stakeholder engagement
- Relaunch of residential programmes
- Strengthen the staffing structure
- Marketing & revenue generation
- Programme development
- Secure longer-term funding for programmes
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Charity is a Registered Charity (1005555) and a Company Limited by Guarantee (2648892), constituted through its Memorandum and Articles of association. The Charity joined the Regenda Group in December 2020 at which point the existing Members resigned and Regenda became the sole Member. The Directors of the company during the period are as set out in the legal and administrative information on page 1.
Since joining the Regenda Group, recruitment, induction and training of Trustees is overseen by the Nomination and Remuneration Committee.
The Charity’s Board of Directors has full responsibility for the charity within parameters set by the Parent Board and meets at least bi-monthly.
The Charity works in partnership with several other organisations on some of its charitable programmes, including the National Housing Federation, Chartered Institute of Housing, London School of Economics, University of Manchester, and other voluntary organisations in the local area.
An updated business plan (January 2020) for the charity includes a risk assessment. The forecasts associated with the business plan continue to be updated for the impact of COVID-19 on the charity.
The Charity complies with the principal recommendations of the National Housing Federation’s code of governance “Excellence in Governance - Code for Members and Good Practice Guidance” (Revised 2015).
## **Related Parties**
The Charity’s wholly owned subsidiary, the Trafford Trading Company Limited, ceased trading in February 2019 and all of its staff, including the Chief Executive, were made redundant. The affairs of the company have been wound up and the Company was dissolved in November 2020.
## **Key Management Personnel**
Since joining the Regenda Group, a new Managing Director has been appointed from within Regenda and Regenda’s Group Chief Executive (who is also a Trustee) has ultimate responsibility for day-to-day operations.
Directors are required to disclose any relevant interest and register them at Board meetings, and in accordance with the charity’s policy withdraw from decision where a conflict of interest arises.
Page 5
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Period Ended 31 March 2021**
## **PROVISION OF INFORMATION TO AUDITORS**
Each of the persons who are Directors at the same time when the Directors' report is approved has confirmed that:
- So far as that Director is aware, there is no relevant audit information of which the company’s auditors are aware; and
- That Director has taken all the steps that ought to have been taken as a Director in order to be aware of any information needed by the company’s auditors in connection with preparing their report and to establish that the company’s auditors are aware of that information.
## **AUDITORS**
The auditor, BDO LLP, was appointed during the period and will be proposed for appointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board on 16 September 2021 and signed on its behalf. WU RK birkett
## **M Birkett**
## **ON BEHALF OF THE BOARD**
Page 6
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Statement of Trustees' responsibilities For the Period Ended 31 March 2021**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting 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;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 7
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Independent Auditor's Report to the Members of The National Communities Resource Centre Limited**
## **Opinion on the financial statements**
In our opinion, the financial statements:
- give a true and fair view of the state of the Charitable Company’s affairs as at 31 March 2021 and of its incoming resources and application of resources for the 18 month period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements of The National Communities Resource Centre Limited (“the Charitable Company) for the 18 month period ended 31 March 2021 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## _Independence_
We remain independent of the Charitable Company in accordance with the ethical requirements relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 8
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Independent Auditor's Report to the Members of The National Communities Resource Centre Limited (continued)**
## **Other information**
The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ report, other than the financial statements and our auditor’s report thereon. The other information comprises the information in the Trustees’ report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Other Companies Act 2006 reporting**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ report, which includes the Directors’ Report prepared for the purposes of Company Law, for the financial period for which the financial statements are prepared is consistent with the financial statements; and
- the Directors’ Report, which is included in the Trustees’ Report, has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustee’s report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion;
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Directors’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Page 9
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Independent Auditor's Report to the Members of The National Communities Resource Centre Limited (continued)**
## **Responsibilities of directors**
As explained more fully in the statement of Trustees’ responsibilities, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
## _Extent to which the audit was capable of detecting irregularities, including fraud_
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding and accumulated knowledge of the Charitable Company, and the sector in which it operates we considered the risk of acts by the Charitable Company which were contrary to applicable laws and regulations, including fraud and whether such actions or non-compliance might have a material effect on the financial statements. We considered the significant laws and regulations to be United Kingdom Generally Accepted Accounting Practice (including FRS102 and the Charities Statement of Recommended Practice) and the UK Companies Act 2006. All audit team members were briefed to ensure they were aware of any relevant regulations in relation to their work, areas of potential non-compliance and fraud risks.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of an override of controls), and determined that the principal risks were related to posting inappropriate journal entries, management bias in accounting estimates and improper incoming resources recognition.
Page 10
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Independent Auditor's Report to the Members of The National Communities Resource Centre Limited (continued)**
Our audit procedures in response to the above included, but were not limited to:
- Agreement of the financial statement disclosures to underlying supporting documentation;
- Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to the recoverability of debtors;
- Procedures to test incoming resources including agreement of incoming resources recognised to supporting documentation on a sample basis;
- Identifying and testing journal entries identified as potentially unusual. This testing included, but was not limited to, any journal entries posted with specific keywords, journals posted by unexpected users, and journals posted to least used accounts;
- Discussions with management, and those charged with governance, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- Discussions with management, and those charged with governance to understand if there has been any Serious Incident Reports made to the Charity Commission either during the period or post period end;
- A review of trustees’ meeting minutes both during the period, and post period end, for any known or suspected instances of non-compliance with laws and regulation, Serious Incident Reports made to the Charity Commission or fraud;
- Enquires to confirm with management that there was no legal correspondence during the period, or post period end, requiring review;
- Obtaining an understanding of the control environment in monitoring compliance with laws and regulations.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and the Charitable Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
**Hamid Ghafoor** (Senior Statutory Auditor) For and on behalf of BDO LLP, Statutory Auditor Liverpool United Kingdom
24 September 2021
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
Page 11
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Statement of financial activities (incorporating income and expenditure account) For the 18 month Period Ended 31 March 2021**
|**Note**
**Income from:**
Donations and legacies
4
Charitable activities
5
Investments
6
Other income
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net income/(expenditure)**
Transfers between funds
17
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
**42,074**
**-**
**645,716**
**16,312**
**704,102**
**321,205**
**321,205**
**382,897**
**16,394**
**399,291**
**286,707**
**399,291**
**685,998**|**Restricted**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
**-**
**58,854**
**-**
**-**
**58,854**
**68,514**
**68,514**
**(9,660)**
**(16,394)**
**(26,054)**
**58,946**
**(26,054)**
**32,892**|**Total**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**Total**
**funds**
**18 months**
**ended**
**30 September**
**2019**
**£**
**£**
**42,074**
97,496
**58,854**
283,844
**645,716**
102
**16,312**
2,375
**762,956**
383,817
**389,719**
3,395,514
**389,719**
3,395,514
**373,237**
(3,011,697)
**-**
-
**373,237**
(3,011,697)
**345,653**
3,357,350
**373,237**
(3,011,697)
**718,890**
345,653|
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 14 to 33 form part of these financial statements.
Page 12
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee) Registered number: 02648892**
## **Balance Sheet As at 31 March 2021**
||||**31 March**|**31 March**||**30 September**|**30 September**|**30 September**|
|---|---|---|---|---|---|---|---|---|
||||**2021**||||**2019**||
||**Note**||**£**||||**£**||
|**Fixed assets**|||||||||
|Tangible assets|12||**-**||||1,100,000||
|Investments in subsidiaries|13||**-**||||-||
||||**-**||||1,100,000||
|**Current assets**|||||||||
|Debtors|14|**34,856**|||-||||
|Cash at bank and in hand||**720,019**|||293,694||||
|||**754,875**|||293,694||||
|Creditors: amounts falling due within one|||||||||
|year|15|**(35,985)**|||(966,563)||||
|**Net current assets / (liabilites)**|||**718,890**||||(672,869)||
|**Total assets less current liabilities**|||**718,890**||||427,131||
|Creditors: amounts falling due after more|||||||||
|than one year|16||**-**||||(81,478)||
|**Net assets excluding pension asset**|||**718,890**||||345,653||
|**Total net assets**|||**718,890**||||345,653||
|**Charity funds**|||||||||
|Restricted funds|17||**32,892**||||58,946||
|Unrestricted funds|17||**685,998**||||286,707||
|**Total funds**|||**718,890**||||345,653||
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on 16 September 2021 and WU signed on their behalf by: RK Pirkett
## **M Birkett**
The notes on pages 14 to 33 form part of these financial statements.
Page 13
**The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Period Ended 31 March 2021**
## **1. General information**
The National Communities Resource Centre Limited is a private company limited by guarantee, incorporated in England and Wales under the Companies Act 2006 and Charities Act 2011. The address of the registered office is provide in the Reference and Administrative Details page. Details of the Charity's operations are provided in the Trustees' Report.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and the Charities Act 2011.
The National Communities Resource Centre Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Amounts are presented in pounds sterling and rounded to the nearest pound.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **2.2 Financial resporting standard 102 - reduced disclosure exemptions**
The Charity has taken advantage of the following disclosure exemptions in preparing these financial statements as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
- The requirements of Section 7 Statement of Cash Flows;
- The requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(f), 11.42, 11.44 to 11.45, 1 1.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); and
- The requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Regenda Group as at 31 March 2021 and these financial statements may be obtained from its registered office: The Foundry, 42 Henry Street, Liverpool, L1 SAY.
## **2.3 Going concern**
The parent company, Regenda Ltd has successfully negotiated a contract with the Youth Hostel Association (YHA) on behalf of Regenda and the Charity, to operate Trafford Hall to help enact its new business model. The agreement allows the Charity to retain its office space and continue to operate all its charitable activities from Trafford Hall. However, due to the ongoing uncertainties surrounding the effects of the economic slowdown because of the Covid-19 pandemic, it is difficult to fully predict the future impact on the charity. Having taken all the factors into account, the Directors are of the opinion that the charity will continue to receive an adequate level of income to meet its anticipated requirements and has prepared the financial statements on a going concern basis.
Page 14
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Period Ended 31 March 2021**
## **2. Accounting policies (continued)**
## **2.4 Income**
Income is recognised in the financial statements as follows:
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are recognised in the period for which they are awarded. Payments received from the government for furloughed employees are a form of grant. This grant money is receivable as compensation for expenses already incurred, and where this is not in respect of future related costs, is recognised in income in the period in which it becomes receivable and the related expense is incurred.
Specific grants and allowances are recognised in the period that the specific activity or project is completed and matched to corresponding expenditure. Excess income is carried forward to fund the activity in subsequent periods. Grants relating to expenditure on tangible fixed assets are credited to the statement of financial activities at the same rate as depreciation on the assets to which the grants relate. The deferred element of grants is included as deferred income.
Donations, legacies, covenants, fundraising income and other income are recognised when receivable.
Specific Sponsorships are recognised in the period that the specific activity or project is completed and matched to corresponding expenditure. Excess income is carried forward to fund the activity in subsequent periods. The deferred element of sponsorships is included as deferred income.
Investment income is recognised in the period when receivable.
Training Courses are recognised in the period when the course takes place.
Volunteers' time is not recognised in the Statement of Financial Activities as it is provided free of charge.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 15
**The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Period Ended 31 March 2021**
## **2. Accounting policies (continued)**
## **2.5 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category.
## Charitable expenditure
Includes all expenditure incurred on the activities run in pursuance of the Charity's objectives.
## Governance costs
Includes those costs incurred in the governance of the charity and are associated with constitutional and statutory requirements.
## Support costs
Central costs incurred in support of charitable activities are apportioned over the appropriate cost centres and charged to charitable expenditure as support costs.
Support costs are allocated to charitable activities on the basis of total expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **2.6 Taxation**
As a registered charity the Charity is generally exempt from Corporation Tax and Capital Gains Tax on its charitable activities, but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 16
**The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Period Ended 31 March 2021**
## **2. Accounting policies (continued)**
## **2.7 Tangible fixed assets and depreciation (continued)**
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Freehold property 10% straight line - Property improvements 10% straight line - Fixtures and fittings 20% - 33.3% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.
Depreciation is not charged in the year of disposal.
## **2.8 Investments**
Investments in subsidiaries are valued at cost less provision for impairment.
## **2.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.11 Creditors**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.12 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 17
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **2. Accounting policies (continued)**
## **2.13 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the period.
## **2.14 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **3. Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical accounting estimates:
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually.
Page 18
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **4. Income from donations and legacies**
|**Unrestricted**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
Donations
31,969
Gift aid
6,039
Government grants
4,066
42,074
**Unrestricted**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
Donations
97,096|**Restricted**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
-
-
-
-
**Restricted**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
400|**Total**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
**31,969**
**6,039**
**4,066**|
|---|---|---|
|||**42,074**|
|||**Total**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
97,496|
## **5. Income from charitable activities**
||**Restricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**18 months**|**18 months**|
||**ended**|**ended**|
||**31 March**|**31 March**|
||**2021**|**2021**|
||**£**|**£**|
|Income from charitable activities|58,854|**58,854**|
Page 19
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **5. Income from charitable activities (continued)**
||**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|
||**funds**|**funds**|**funds**|
||**18 months**|**18 months**|**18 months**|
||**ended**|**ended**|**ended**|
||**30**|**30**|**30**|
||**September**|**September**|**September**|
||**2019**|**2019**|**2019**|
||**£**|**£**|**£**|
|Income from charitable activities|39,694|244,150|283,844|
## **6. Investment income**
|**Unrestricted**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
Income received from subsidiary
645,556
Bank interest
160
645,716|**Total**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
**645,556**
**160**
**645,716**|**Total**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
-
102|
|---|---|---|
|||102|
Investment income was fully unrestricted in the current and previous financial period.
Page 20
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
Social Housing Training
221,205
Impairment
100,000
321,205
**Unrestricted**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
Social Housing Training
114,393
Impairment
2,982,093
3,096,486|**Restricted**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
68,514
-
68,514
**Restricted**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
299,028
-
299,028|**Total**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
**289,719**
**100,000**|
|---|---|---|
|||**389,719**|
|||**Total**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
413,421
2,982,093|
|||3,395,514|
Page 21
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **8. Analysis of expenditure by activities**
|Social Housing Training
Impairment
Social Housing Training
Impairment|**Activities**
**undertaken**
**directly**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
257,986
-
257,986|**Activities**
**undertaken**
**directly**
**18 months**
**ended**
**31 March**
**2021**
**£**
68,514
-
68,514
**Grant**
**funding of**
**activities**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
2,839
-
2,839|**Support**
**costs**
**18 months**
**ended**
**31 March**
**2021**
**£**
221,205
100,000
321,205
**Support**
**costs**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
152,596
2,982,093
3,134,689|**Total**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
**289,719**
**100,000**|
|---|---|---|---|---|
|||||**389,719**|
|||||**Total**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
413,421
2,982,093|
|||||3,395,514|
Page 22
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Bank charges and interest
Insurance
Utilities
Repairs and maintenance
Sub-contractors and Change Manager
Miscellaneous
Loan interest
Professional fees
Gas and electric
Rates
Impairment
Governance costs|**Social**
**Housing**
**Training**
**18 months**
**ended**
**31 March**
**2021**
**£**
13,383
987
34,461
1,565
8,447
84,786
656
3,208
37,627
25,088
2,177
-
8,820
221,205|**Impairment**
**18 months**
**ended**
**31 March**
**2021**
**£**
-
-
-
-
-
-
-
-
-
-
-
100,000
-
100,000|**Total**
**funds**
**18 months**
**ended**
**31 March**
**2021**
**£**
**13,383**
**987**
**34,461**
**1,565**
**8,447**
**84,786**
**656**
**3,208**
**37,627**
**25,088**
**2,177**
**100,000**
**8,820**|
|---|---|---|---|
||||**321,205**|
Page 23
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **8. Analysis of expenditure by activities (continued)**
## **Analysis of support costs (continued)**
|Staff costs
Management charge
Bank charges and interest
Insurance
Utilities
Repairs and maintenance
Sub-contractors and Change Manager
Miscellaneous
Loan interest
Depreciation
Professional fees
Impairment
Governance costs|**Social**
**Housing**
**Training**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
2,210
25,000
302
10,406
4,500
8,961
25,600
542
6,431
45,564
17,080
-
6,000
152,596|**Impairment**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
-
-
-
-
-
-
-
-
-
-
-
2,982,093
-
2,982,093|**Total**
**funds**
**18 months**
**ended**
**30**
**September**
**2019**
**£**
2,210
25,000
302
10,406
4,500
8,961
25,600
542
6,431
45,564
17,080
2,982,093
6,000|
|---|---|---|---|
||||3,134,689|
Governance costs consist of the auditors remuneration.
## **9. Auditor's remuneration**
|||**18 months**|
|---|---|---|
||**18 months**|**ended**|
||**ended**|**30**|
||**31 March**|**September**|
||**2021**|**2019**|
||**£**|**£**|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**6,000**|5,000|
|Fees payable to the Charity's auditor in respect of:|||
|All non-audit services not included above|**-**|1,000|
Page 24
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**18 months**
**ended**
**31 March**
**2021**
**£**
**13,100**
**71**
**212**
**13,383**|**18 months**
**ended**
**30**
**September**
**2019**
**£**
2,210
-
-|
|---|---|---|
||||
|||2,210|
The average number of persons employed by the Charity during the period was as follows:
|||**18 months**|
|---|---|---|
||**18 months**|**ended**|
||**ended**|**30**|
||**31 March**|**September**|
||**2021**|**2019**|
||**No.**|**No.**|
|Employees|**1**|1|
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel were not remunerated during either period.
Page 25
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **11. Trustees' remuneration and expenses**
During the period, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the period ended 31 March 2021, no Trustee expenses have been incurred (2019 - £NIL).
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 October 2019
Disposals
At 31 March 2021
**Depreciation**
At 1 October 2019
On disposals
Impairment charge
At 31 March 2021
**Net book value**
At 31 March 2021
At 30 September 2019|**Freehold**
**building**
**£**
**3,084,427**
**(3,084,427)**
**-**
**2,817,729**
**(2,917,729)**
**100,000**
**-**
**-**
266,698|**Freehold**
**land**
**£**
**833,302**
**(833,302)**
**-**
**-**
**-**
**-**
**-**
**-**
833,302|**Property**
**improvements**
**£**
**470,480**
**(470,480)**
**-**
**470,480**
**(470,480)**
**-**
**-**
**-**
-|**Fixtures and**
**fittings**
**£**
**27,248**
**-**
**27,248**
**27,248**
**-**
**-**
**27,248**
**-**
-|**Total**
**£**
**4,415,457**
**(4,388,209)**
**27,248**
**3,315,457**
**(3,388,209)**
**100,000**
**27,248**
**-**
1,100,000|
|---|---|---|---|---|---|
Following the acquisition of the Company by Regenda Group Ltd, a valuation was carried out on the building by Mason Owen property consultants, which was performed in July 2020. The Trustees considered the land and buildings to have a value of £1,000,000. The Asset was disposed of for £1,000,000 on 7 January 2021. No depreciation was charged in the period of disposal.
Page 26
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **13. Fixed asset investments**
|At 1 October 2019
Disposals
**At 31 March 2021**|**Investments**
**in**
**subsidiary**
**companies**
**£**
**2**
**(2)**|
|---|---|
||**-**|
The subsidiary undertaking, The Trafford Trading Company Limited (company no. 02781693) was impaired in the previous period and was struck off on 24 November 2020.
## **14. Debtors**
|**Due within one year**
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income|**31 March**
**2021**
**£**
**20,000**
**4,279**
**10,577**
**34,856**|**30**
**September**
**2019**
**£**
-
-
-|
|---|---|---|
||||
|||-|
Amounts owed by group undertakings are interest free and payable on demand.
Page 27
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **15. Creditors: Amounts falling due within one year**
|Bank loans
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income|**31 March**
**2021**
**£**
**-**
**-**
**-**
**14**
**44**
**35,927**
**35,985**|**30**
**September**
**2019**
**£**
308,541
36,592
606,930
-
-
14,500|
|---|---|---|
||||
|||966,563|
## **16. Creditors: Amounts falling due after more than one year**
||||**30**|
|---|---|---|---|
||**31**|**March**|**September**|
|||**2021**|**2019**|
|||**£**|**£**|
|Bank loans||**-**|81,478|
In June 2017, the charity obtained a loan for a maximum for £100,000. Initially, a sum of £50,000 was drawn down on 19th January 2018. In December 2018, a further £50,000 was drawn down. Interest charged was 6% per annum. The loan was repaid in full on 23rd December 2020.
In June 2019, the charity took out a loan to the value of £300,000 secured against Trafford Hall and no interest was charged on the loan. The loan was repaid in full on 23rd December 2020.
Page 28
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **17. Statement of funds**
## **Statement of funds - current period**
|**Balance at 1**
**October**
**2019**
**£**
**Unrestricted funds**
**Designated funds**
Reserve Fund
**5,010**
Property Fund
**266,697**
Maintenance Fund
**15,000**
**286,707**
**General funds**
General Funds - all funds
**-**
**Total Unrestricted funds**
**286,707**
**Restricted funds**
Housing Plus Academy
**33,627**
Youth & Family Development
**8,925**
Aviva Fund
**1,335**
Wellbeing Fund
**10,000**
Royal Borough of Kensington
**1,599**
Fundraiser
**3,460**
**58,946**
**Total of funds**
**345,653**|**Income**
**£**
**Expenditure**
**£**
**-**
**-**
**-**
**(100,000)**
**-**
**-**
**-**
**(100,000)**
**704,102**
**(221,205)**
**704,102**
**(321,205)**
**58,854**
**(68,514)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**58,854**
**(68,514)**
**762,956**
**(389,719)**|**Transfers**
**in/out**
**£**
**(5,010)**
**(166,697)**
**(15,000)**
**(186,707)**
**203,101**
**16,394**
**-**
**-**
**(1,335)**
**(10,000)**
**(1,599)**
**(3,460)**
**(16,394)**
**-**|**Balance at**
**31 March**
**2021**
**£**
**-**
**-**
**-**|
|---|---|---|---|
||||**-**|
||||**685,998**|
||||**685,998**|
||||**23,967**
**8,925**
**-**
**-**
**-**
**-**|
||||**32,892**|
||||**718,890**|
Page 29
## **The National Communities Resource Centre Limited**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **17. Statement of funds (continued)**
## **Statement of funds - prior period**
|**Unrestricted funds**
**Designated funds**
Reserve Fund
Property Fund
Maintenance Fund
Property revaluation
**General funds**
General Funds - all funds
**Total Unrestricted funds**
**Restricted funds**
Housing Plus Academy
Youth & Family Development
Aviva Fund
Wellbeing Fund
Royal Borough of Kensington
Fundraiser
DIY Community Action
Green Fund
Garden Fund
Renewable and Upgrade Fund
Maintenance Fund
Direct Line Group
**Total of funds**|**Balance at**
**1 April 2018**
**£**
50,000
4,127,658
-
(1,091,910)
3,085,748
147,970
3,233,718
43,253
32,411
1,335
10,000
2,878
-
16,352
1,115
1,043
1,750
6,665
6,830
123,632
3,357,350|**Income**
**£**
**Expenditure**
**£**
-
(734)
-
(2,982,095)
-
-
-
-
-
(2,982,829)
139,267
(113,657)
139,267
(3,096,486)
107,303
(122,676)
6,847
(54,731)
-
-
-
-
-
(2,568)
-
-
75,000
(87,903)
400
-
-
-
-
-
-
-
55,000
(31,150)
244,550
(299,028)
383,817
(3,395,514)|**Transfers**
**in/out**
**£**
(44,256)
(878,866)
15,000
1,091,910
183,788
(173,580)
10,208
5,747
24,398
-
-
1,289
3,460
(3,449)
(1,515)
(1,043)
(1,750)
(6,665)
(30,680)
(10,208)
-|**Balance at**
**30**
**September**
**2019**
**£**
5,010
266,697
15,000
-|
|---|---|---|---|---|
|||||286,707|
|||||-|
|||||286,707|
|||||33,627
8,925
1,335
10,000
1,599
3,460
-
-
-
-
-
-|
|||||58,946|
|||||345,653|
Page 30
**The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **17. Statement of funds (continued)**
The above schedule illustrates the income and expenditure of each fund and the amount by which each is supported from the unrestricted funds of the charity.
## **Unrestricted general funds**
Funds which are available for use or retention at the discretion of the Trustees, in accordance with the Charity's objectives.
## **Unrestricted designated funds**
These Funds are unrestricted funds which have been set aside by trustees for an essential spend or future purpose.
## **Transfers between funds**
Transfers to and from unrestricted funds indicate the extent to which money from unrestricted funds is required to support these restricted activities.
Where a restricted programme has been completed and there is no requirement to return any unspent funds to grant providers, amounts have been transferred to unrestricted funds and then designated as a designated reserve.
## **Restricted funds**
## _Housing Plus Academy_
The Housing Plus Academy is a partnership between 15 leading housing associations, LSE Housing and Communities, the National Housing Federation, the Chartered lnstitute of Housing and the National Communities Resource Centre. It has been developed to promote knowledge exchange and participative learning among frontline staff and tenants of social landlords.
## _MOD - Youth & Families Development_
A fund to cover the development and running of our Youth Futures and Family Futures programmes, funded by the Richard Rogers Charitable Trust, the Berkeley Foundation, the John Ellerman Foundation, Wilmott Dixon Interiors, Garfield Weston and the Ministry of Defence.
## _Aviva Fund_
A fund awarded by the Aviva Community Fund towards the purchase of equipment and sporting kit to be used by our youth and family programmes.
## _Wellbeing Fund_
An awards for All Grant for a 6 week therapeutic project to improve the wellbeing of adults suffering from common mental health issues.
## _Royal Borough of Kensington_
A fund to support tenants and residents from the Lancaster West Estate to provide training and a residential weekend.
## _Fundraiser_
Monies received to pay for fundraising research.
Page 31
## **The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Period Ended 31 March 2021**
## **18. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**31 March**
**2021**
**£**
Current assets
721,983
Creditors due within one year
(35,985)
**Total**
685,998
**Analysis of net assets between funds - prior period**
**Unrestricted**
**funds**
**30**
**September**
**2019**
**£**
Tangible fixed assets
1,100,000
Current assets
234,748
Creditors due within one year
(966,563)
Creditors due in more than one year
(81,478)
**Total**
286,707|**Restricted**
**funds**
**31 March**
**2021**
**£**
32,892
-
32,892
**Restricted**
**funds**
**30**
**September**
**2019**
**£**
-
58,946
-
-
58,946|**Total**
**funds**
**31 March**
**2021**
**£**
**754,875**
**(35,985)**
**718,890**
**Total**
**funds**
**30**
**September**
**2019**
**£**
1,100,000
293,694
(966,563)
(81,478)
345,653|
|---|---|---|
## **19. Pension commitments**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £44 (18 months ended 30 September 2019 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
## **20. Related party transactions**
The Charity has not entered into any related party transaction during the period, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2021.
A contract to continue the support the development of the Housing Plus Academy is in place with the LSE. Professor Anne Power (the Chair of the charity) works at the LSE but does not receive any renumeration of any kind relating to the contract.
Page 32
**The National Communities Resource Centre Limited (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Period Ended 31 March 2021**
## **21. Controlling party**
The Charity's immediate and ultimate parent company is Regenda Limited, a company incorporated in England and Wales with the registered office of The Foundry, 42 Henry Street, Liverpool, L1 SAY.
At 31 March 2021, the largest and smallest group in which the results are consolidated is that headed by Rengenda Limited. The consolidated accounts of the Company are available to the public and may be obtained from its registered office: The Foundry, 42 Henry Street, Liverpool, L1 SAY. No other group accounts include the results of the Charity.
Page 33