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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 02568695 (England and Wales) REGISTERED CHARITY NUMBER: 1028076

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

CROW - Coventry Recycling of Waste (Limited by Guarantee)

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Contents of the Financial Statements for the Year Ended 31 December 2020

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 15
Detailed Statement of Financial Activities 16 to 17

CROW - Coventry Recycling of Waste

(Limited by Guarantee)

Report of the Trustees for the Year Ended 31 December 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 trustees have complied with their duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission.

This report is prepared in accordance with the small company regime, Section 419(2) of the Companies Act 2006.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are to promote, using the medium of recycling of waste materials, the education, training, employment and support, especially though not exclusively, of adults with disabilities and learning difficulties. To achieve this CROW provides supported work experience and training for adults with disabilities and learning difficulties at a community-based recycling centre.

Using waste materials such as drink cans, office grade paper, clothes and other recyclable materials collected from companies, voluntary groups and the public, supervised training in basic processing and warehousing skills is made available to those people disadvantaged in the workplace.

SIGNIFICANT ACTIVITIES ETC

Waste Recycling

Collection and processing of existing materials continued with the throughput in 2020 reduced by about 25% relative to the previous year, due to the Covid pandemic and the loss of some major customers.

Training Contracts

Training contracts with Community Learning Disabilities Team (CLDT) and Coventry City Council were terminated several years ago, but CROW has continued to work with the people placed, despite the lack of payment for this work. CROW continues to work with voluntary agencies to provide unpaid work/training placements either on a long or short-term basis.

Overview

The actions taken by Coventry City Council since October 2014 (the stopping of funding for the placements, the ending of the contract for shredding of confidential waste and the loss of can-bank collections following the introduction of "blue bin" scheme) had considerable financial implications for the charity. This made the charity increasingly reliant on fund-raising activities, in general, and the donations of one supporting organisation in particular, to meet total expenditure and support further developments. Existing and new business customers continue to use the charity's services, and new customers are constantly being sought.

Public benefit

The charities' activities, as described in this Trustees Report, explain how they are of public benefit. The trustees confirm that they comply with the duty in section 4 of the Charities Act 2011 to have due regard to the general guidance by the Charity Commission on public benefit.

Volunteers

There is an established and approved Volunteer Policy within the charity to ensure best practice and safeguards for volunteers and service users.

Page 1

CROW - Coventry Recycling of Waste

(Limited by Guarantee)

Report of the Trustees for the Year Ended 31 December 2020

ACHIEVEMENT AND PERFORMANCE

Charitable activities

CROW continues to work with community groups to save cans for processing and recycling .

In May 2012, the Scrapstore scheme was launched at CROW comprising a 'treasure trove' of materials suitable for arts and crafts activities. The Scrapstore is open to schools, community groups and individuals who engage in art and crafts, and was a first for Coventry; it continues to be a popular facility. In 2018, CROW received a grant to employ a part-time worker for one year to develop and publicise the Scrapstore. The worker started in July 2018 and this led to a significant increase in Scrapstore membership and sales. We have been able to fund this worker to continue on a part-time basis. Income generated by Scrapstore sales was growing well until "lockdown" led to the temporary closure of the Scrapstore

CROW Staff and Volunteers are committed to providing the same levels of support to the young people and adults placed at CROW. The literacy and numeracy support is no longer available but general training in the workplace continues. Towards the end of 2018, a new volunteer began part-time work in the office to develop the website, increase the CROW presence on Facebook and Twitter and to assist with the updating of policies and procedures, eg on data protection. Her contributions have been very valuable. In 2019, CROW received a grant to employ a temporary part-time worker to develop an education programme aimed at local schools. The volunteer above took up this post in January 2019. Covid restrictions disrupted the school visits in 2020, but some online resources have been developed. This person is now employed in a part-time admin role and actively publicises CROW's activities, leading to several new customers. Also, in January 2019, CROW was approached by a recently retired person offering to volunteer for three days per week in both warehouse and office duties. He continues to make a substantial contribution.

CROW obviously misses the input from Barbara Cowling, but the work of the new part-time staff and volunteer, together with increased input from existing staff, volunteers and trustees, has enabled CROW to continue all aspects of its work.

The disadvantaged workers continue to benefit from a variety of activities, including assisting the Driver with collections for those who are physically able. Perhaps the greatest benefit comes from their social interaction with the staff and other workers.

FINANCIAL REVIEW

Principal funding sources

The charity has continued to provide a collection and recycling service to the local business community and schools for which it charges. During 2020, the charity again received a significant donation from Micropathology Limited to enable CROW to continue the work of supporting disadvantaged people. The Directors of Micropathology have stated their intention to continue to support CROW for which the Trustees of CROW are very grateful. Apart from the Micropathology funding, other donations have been relatively low during 2020. However, this has been offset by grants related to government support for businesses affected by Covid restrictions. Due to the Covid restrictions, the "trading income" was down by about 25% compared with 2019, while expenditure only fell by about 4%. However, the donations and grants (including furlough payments) meant that the reserves actually increased by about 30%, so CROW started 2021in a good financial position.

Reserves policy

The management committee has examined the charities requirement for reserves in light of the main aims of the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 6-12 months of the expenditure. This target has again been met, with the net reserves proving sufficient to cover approximately 12 month's expenditure of the charity. The reserves are needed to meet the working capital requirements of the charity and the management committee are confident that they will be able to continue with the current activities of the charity, despite continued reliance upon donations and grants.

Page 2

CROW - Coventry Recycling of Waste

(Limited by Guarantee)

Report of the Trustees for the Year Ended 31 December 2020

FINANCIAL REVIEW EFFECTS OF THE COVID PANDEMIC

At the start of 2020, the aim of CROW was to continue to offer opportunities for people with learning difficulties to increase their confidence and skills in a supportive working environment. We hoped to expand the number of such people benefiting from CROW whenever possible. By seeking new and diverse business opportunities, together with exploring alternative funding sources and with close financial management, it was envisaged that CROW would remain a viable commercial business, continuing the aims and objectives of the charity. However, these plans were disrupted by the government restrictions introduced in response to the Covid-19 crisis. The first lockdown, introduced in March 2020, led to the immediate closure of the Scrapstore. The recycling activities were permitted to continue but the demand for these services fell to the point where, in order to protect CROW's finances the Trustees decided to close the warehouse and furlough all of the staff except the admin support. (At that stage furlough was "all or nothing"). The Trustees ensured that the premises were checked regularly and the necessary admin tasks were fulfilled. CROW reopened for the first week in June to clear a backlog of collections and deliveries and then closed again until the end of June. From July onwards, the Government introduced flexible furlough, thus enabling CROW to match opening hours to demand. From 1st July to 31st October, the Scrapstore reopened and the warehouse operated on a 4-day week. In November, the Scrapstore closed again and the warehouse dropped to a 3-day week for November and December. The Scrapstore was able to re-open for a short time in December but had to close again for the next lockdown in the New Year. Opportunities for the disadvantaged workers to attend CROW have been severely limited by Covid safety considerations but it has been heartening to see how eager they were to come back to CROW whenever possible.

At the time of writing (mid- April 2021), the world remains in the grip of the covid-19 crisis and it is impossible to predict the longer term effects on CROW. Many of our customers have continued to use our services and we are hopeful that the volume of collections will increase as the UK emerges from lockdown.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of trustees

The Directors of the company are also charity trustees for the purposes of charity law and under the company's articles are known as Members of the management committee. The Memorandum and Articles of Association determine the number, election procedure and period of office in which they can serve.

Organisational structure

A board of trustees of up to 13 members, who meet regularly, administer the charity. The Warehouse Manager is responsible for the day to day operations of the charity. One of the trustees works at CROW on voluntary basis 1 or 2 days per week to oversee the financial and administrative functions.

Induction and training of new trustees

The trustees are generally familiar with the practical work of the charity and are given all relevant documents. From the outset, trustees are briefed by the committee and the managing trustees to give an overview of the charity, the role of the trustees and related information.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks.

Significant external risks to funding are being reduced by the diversification of its activities. However the charity is reliant upon continued donations and grant receipts. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects to ensure consistent quality of delivery for all operational aspects of the charity. The procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Page 3

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Report of the Trustees for the Year Ended 31 December 2020

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

02568695 (England and Wales)

Registered Charity number 1028076

Registered office

Orchard House Sparkbrook Street Hillfields Coventry West Midlands CV1 5LB

Trustees

W Smith Director J Coleman Director B V Weenen Director K L Kelly Director

Company Secretary

W Smith

Independent Examiner

Leigh Christou Ltd Chartered Certified Accountants Leofric House Binley Road Coventry CV3 1JN

Other names

The registered name of the charity is as disclosed in the heading of the financial statements. The charity is also known by the following name: CROW Recycling

Approved by order of the board of trustees on 7 May 2021 and signed on its behalf by:

J Coleman - Trustee

Page 4

Independent Examiner's Report to the Trustees of CROW - Coventry Recycling of Waste (Limited by Guarantee)

Independent examiner's report to the trustees of CROW - Coventry Recycling of Waste (Limited by Guarantee) ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr C A Christou FCCA MAE Leigh Christou Ltd Chartered Certified Accountants Leofric House Binley Road Coventry CV3 1JN

7 May 2021

Page 5

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Statement of Financial Activities for the Year Ended 31 December 2020

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
67,514
Charitable activities
Recycling activites
15,339
Other trading activities
3
2,333
Total
85,186
EXPENDITURE ON
Raising funds
-
Charitable activities
Recycling activites
72,378
Total
72,378
NET INCOME
12,808
RECONCILIATION OF FUNDS
Total funds brought forward
204,657
TOTAL FUNDS CARRIED FORWARD
217,465		 Restricted
funds
£
531
-
-
531
-
531
531
-
-
-		 31.12.20
31.12.19
Total
Total
funds
funds
£
£
68,045
77,656
15,339
29,650
2,333
3,601
85,717
110,907
-
808
72,909
74,187
72,909
74,995
12,808
35,912
204,657
168,745
217,465
204,657		 31.12.20
31.12.19
Total
Total
funds
funds
£
£
68,045
77,656
15,339
29,650
2,333
3,601
85,717
110,907
-
808
72,909
74,187
72,909
74,995
12,808
35,912
204,657
168,745
217,465
204,657
110,907
808
74,187
74,995
35,912
168,745
204,657

The notes form part of these financial statements

Page 6

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Balance Sheet 31 December 2020

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
8
129,593
CURRENT ASSETS
Debtors
9
10,594
Cash at bank and in hand
80,877
91,471
CREDITORS
Amounts falling due within one year
10
(3,599)
NET CURRENT ASSETS
87,872
TOTAL ASSETS LESS CURRENT
LIABILITIES
217,465
NET ASSETS
217,465
FUNDS
12
Unrestricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-
-		 31.12.20
Total
funds
£
129,593
10,594
80,877
91,471
(3,599)
87,872
217,465
217,465
217,465
217,465		 31.12.19
Total
funds
£
134,745
13,402
61,505
74,907
(4,995)
69,912
204,657
204,657
204,657
204,657

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 7

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Balance Sheet - continued 31 December 2020

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 7 May 2021 and were signed on its behalf by:

J Coleman - Trustee

The notes form part of these financial statements

Page 8

CROW - Coventry Recycling of Waste

(Limited by Guarantee)

Notes to the Financial Statements for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements - going concern

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charity has become increasingly reliant upon organisations providing donations and grant funding to continue to meet its day to day working capital requirements. The recurrence of such generosity from both local and national organisations cannot be guaranteed and the charity has no firm commitment of funding from any significant donor or grant provider. The charity's balance sheet largely consists of tangible fixed assets which are not readily convertible into working capital. The charity's reserves policy has been met this year. The Trustees have continue discussions with a number of organisations, with a view to providing working capital, either on a gifted or loan basis, in order to alleviate the strain on the charity's cashflow, this has proved successful with an increase in donations received. The Trustees therefore believe it is appropriate for the financial statements to be prepared on a going concern basis. The financial statements do not include any adjustments that would result if the charity were unable to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold - Period of lease
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

All fixed assets are stated at cost. Each purchase is considered on its merits as to whether it is a fixed asset, subject to a minimum of £100.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 9

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
31.12.20 31.12.19
£ £
Donations and grants 34,251 77,656
Grants received 33,794 -
68,045 77,656
Grants received, included in the above, are as follows:
31.12.20 31.12.19
£ £
Other grants 33,794 -

During the year, the charity received £8,794 (2019: £0) of CJRS (furlough) grants, and £25,000 (2019: £0) of Rates grants. These grants were part of the Covid-19 pandemic support put in place by central and local government.

3. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
31.12.20 31.12.19
£ £
Fundraising events 2,333 3,601
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.12.20 31.12.19
£ £
Depreciation - owned assets 5,152 3,770
Other operating leases 3,000 3,000

4. NET INCOME/(EXPENDITURE)

continued...

Page 10

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

5. TRUSTEES' REMUNERATION AND BENEFITS

No remuneration was paid or payable for the year to any trustee or to any person known to be connected with them directly or indirectly out of the funds of the charity,

Trustees' expenses

There were no Trustees' expenses paid during the year ended 31 December 2020 nor for the year ended 31 December 2019.

6. STAFF COSTS

6. STAFF COSTS
31.12.20 31.12.19
£ £
Wages and salaries 40,010 40,251
Other pension costs 965 871
40,975 41,122
The average monthly number of employees during the year was as follows:
31.12.20 31.12.19
Administrative staff 4 4
No employees received emoluments in excess of £60,000.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 76,860 796 77,656
Charitable activities
Recycling activites
29,650 - 29,650
Other trading activities 3,601 - 3,601
Total 110,111 796 110,907
EXPENDITURE ON
Raising funds 808 - 808
Charitable activities
Recycling activites
73,391 796 74,187
Total 74,199 796 74,995

continued...

Page 11

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
fund
funds
£
£
NET INCOME
35,912
-
RECONCILIATION OF FUNDS
Total funds brought forward
168,745
-
TOTAL FUNDS CARRIED FORWARD
204,657
-
8.
TANGIBLE FIXED ASSETS
Long
Plant and
leasehold
machinery
£
£
COST
At 1 January 2020 and 31 December 2020
164,677
54,088
DEPRECIATION
At 1 January 2020
33,534
52,402
Charge for year
3,477
1,171
At 31 December 2020
37,011
53,573
NET BOOK VALUE
At 31 December 2020
127,666
515
At 31 December 2019
131,143
1,686
Motor
Computer
vehicles
equipment
£
£
COST
At 1 January 2020 and 31 December 2020
3,500
3,606
DEPRECIATION
At 1 January 2020
1,802
3,606
Charge for year
424
-
At 31 December 2020
2,226
3,606
NET BOOK VALUE
At 31 December 2020
1,274
-
At 31 December 2019
1,698
-		 Total
funds
£
35,912
168,745
204,657

continued...

Page 12

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
VAT
Pension creditor
Accruals and deferred income
11.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
In more than five years		 31.12.20
£
1,123
9,471
10,594
31.12.20
£
80
185
1,296
88
1,950
3,599
31.12.20
£
3,000
12,000
215,001
230,001		 31.12.19
£
4,766
8,636
13,402
31.12.19
£
373
288
1,951
42
2,341
4,995
31.12.19
£
3,000
12,000
218,001
233,001

Operating lease commitment relates to the rental charge on the long leasehold, included as a tangible fixed asset.

12. MOVEMENT IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.20
£
204,657
204,657		 Net
movement
in funds
£
12,808
12,808		 At
31.12.20
£
217,465
217,465

continued...

Page 13

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
85,186
Restricted funds
Baler
531
TOTAL FUNDS
85,717
Comparatives for movement in funds
At 1.1.19
£
Unrestricted funds
General fund
168,745
TOTAL FUNDS
168,745
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
110,111
Restricted funds
Baler
796
TOTAL FUNDS
110,907		 Resources
Movement
expended
in funds
£
£
(72,378)
12,808
(531)
-
(72,909)
12,808
Net
movement
At
in funds
31.12.19
£
£
35,912
204,657
35,912
204,657
Resources
Movement
expended
in funds
£
£
(74,199)
35,912
(796)
-
(74,995)
35,912

continued...

Page 14

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Notes to the Financial Statements - continued for the Year Ended 31 December 2020

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.19
£
168,745
168,745		 Net
movement
in funds
£
48,720
48,720		 At
31.12.20
£
217,465
217,465

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 195,297 (146,577) 48,720
Restricted funds
Baler 1,327 (1,327) -
TOTAL FUNDS 196,624 (147,904) 48,720

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

14. FUNDS

The Charity has two funds, Unrestricted Fund, which the Trustees are free to use in accordance with the charitable objectives as set out in the deed of trust and the Restricted Fund which can only be used to fund the specific projects undertaken by the Charity to generate income, which the Trustees can then use in accordance with the charitable objectives set out in the deed of trust.

The Restricted Fund comprises an investment in a shredder baler for the shredding of confidential documents resulting in income generated from the sale of bales of paper which has been recognised in line with the depreciation on the asset.

As at 31 December 2020, all remaining funds were unrestricted.

Page 15

CROW - Coventry Recycling of Waste (Limited by Guarantee)

Detailed Statement of Financial Activities
for the Year Ended 31 December 2020
31.12.20 31.12.19
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations and grants 34,251 77,656
Grants received 33,794 -
68,045 77,656
Other trading activities
Fundraising events 2,333 3,601
Charitable activities
Sales from recycling 15,339 28,892
Annual collection fees - 758
15,339 29,650
Total incoming resources 85,717 110,907
EXPENDITURE
Raising donations and legacies
Commissions paid - 808
Charitable activities
Wages 40,010 40,251
Pensions 965 871
Other operating leases 3,000 3,000
Premises costs 1,980 5,690
Materials purchased 1,046 1,276
Vehicle running costs 3,528 3,640
Telephone & PPS 453 908
Volunteer expenses 50 290
Canteen & cleaning 326 361
Repairs & renewals 4,259 3,334
Insurances 9,090 8,097
Sundry expenses 718 582
Bad Debts 554 369
Staff welfare - (5)
Depreciation of tangible fixed assets 5,152 3,770
71,131 72,434
Support costs
Governance costs
Accountancy and legal fees 1,725 1,575
Carried forward 1,725 1,575

This page does not form part of the statutory financial statements

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CROW - Coventry Recycling of Waste

(Limited by Guarantee)

Detailed Statement of Financial Activities for the Year Ended 31 December 2020

31.12.20 31.12.19
£ £
Governance costs
Brought forward 1,725 1,575
Other professional fees 53 178
1,778 1,753
Total resources expended 72,909 74,995
Net income 12,808 35,912

This page does not form part of the statutory financial statements

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