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 2023
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 2023
| 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 | 17 |
| Detailed Statement of Financial Activities | 18 | to | 19 |
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Report of the Trustees for the Year Ended 31 December 2023
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 2023. 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, fabric 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 office paper and aluminium cans continued with the throughput in 2023 increased by about 24% relative to the previous year, probably due to the continued recovery from Covid restrictions. The growth of the Scrapstore sales, supplemented by regular craft workshops, has continued with a 36% increase in the income generated relative to 2022.
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. In particular, the activities of the Scrapstore have expanded considerably (see above).
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 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
CROW continues to offer recycling services for confidential and non-confidential office paper and sells bales of shredded paper for animal bedding and packaging. The work with community groups to save drinks cans for processing and recycling also continues. The income from the trading activities (excluding the Scrapstore) increased by 24% relative to 2022.
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. CROW has continued to employ a part-time Scrapstore Manager who has greatly expanded the sales and activities year on year.
CROW Staff and Volunteers are committed to providing appropriate levels of support to the young people and adults placed at CROW. The part-time Office Manager assists with the updating of policies and procedures, eg on data protection and Health & Safety and actively publicises CROW's activities, leading to several new customers. She has also taken responsibility for fund raising and has been very successful in obtaining several donations, some for specific projects (eg replacement fire doors) and some that can be used to help with general running costs. The total raised in 2023 was £25,750 (in addition to the Micropathology donation - see below). Also, in January 2019, CROW was approached by a recently retired person offering to volunteer for three days per week for both warehouse and office duties. He continues to make a substantial contribution, including as a back-up driver, and has now become a Trustee. There is also a new volunteer helping out in the office one day per week and some volunteers helping in the Scrapstore from time to time.
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 each other.
Staffing
The part-time Scrapstore Manager, appointed in August 2021, has continued with the expansion and re-organisation of the contents of the Scrapstore, increases in publicity and recruitment of more volunteers to assist her. The benefits of these changes were very apparent in 2023.
A new Driver was appointed in March 2022 and has fitted in well.
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 2023, 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 greatly increased in 2023 (see above). Overall, the reserves were about the same at the end of 2023 as they were at the end of 2022, despite the purchase of a replacement van in February 2023 and a large increase in the building insurance premium (£11,570 - almost double the previous premium). The good performance on the income for 2023 was, of course, offset by general increases in costs, particularly for energy.
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 9 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 2023
FINANCIAL REVIEW
Insurance issues
Last year, the Trustees reported problems with obtaining building insurance. The Trustees decided that the building would be more at risk if left empty and so it was agreed to continue working as normal. The City Council (owners of the freehold) were kept fully informed. In March 2023, building insurance was obtained, though at a premium of £10,000 plus tax etc, approximately double the premium in 2021. A condition of this insurance was for the manual fire alarm to be replaced by a fully monitored system by the end of May and this was done. At the time of writing (20 March 2024), this policy has been renewed for a premium of £10,552 plus tax and fees.
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 and the Office Manager are 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.
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
Page 3
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Report of the Trustees for the Year Ended 31 December 2023
Trustees
W Smith Director J Coleman Director B V Weenen Director K L Kelly Director M C McManus Director P K Bailey 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 20 March 2024 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 2023.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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
Leigh Christou Ltd Chartered Certified Accountants Leofric House Binley Road Coventry CV3 1JN
20 March 2024
Page 5
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Statement of Financial Activities for the Year Ended 31 December 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 50,752 Charitable activities Recycling activites 21,728 Other trading activities 3 15,290 Investment income 4 26 Other income 306 Total 88,102 EXPENDITURE ON Charitable activities Recycling activites 87,207 NET INCOME/(EXPENDITURE) 895 Transfers between funds 13 649 Net movement in funds 1,544 RECONCILIATION OF FUNDS Total funds brought forward 197,049 TOTAL FUNDS CARRIED FORWARD 198,593 |
Restricted funds £ 10,754 - - - - 10,754 5,105 5,649 (649) 5,000 - 5,000 |
31.12.23 31.12.22 Total Total funds funds £ £ 61,506 36,105 21,728 21,406 15,290 11,090 26 - 306 - 98,856 68,601 92,312 69,646 6,544 (1,045) - - 6,544 (1,045) 197,049 198,094 203,593 197,049 |
|---|---|---|
The notes form part of these financial statements
Page 6
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Balance Sheet 31 December 2023
| Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 9 132,835 - CURRENT ASSETS Debtors 10 10,299 - Cash at bank and in hand 59,527 5,000 69,826 5,000 CREDITORS Amounts falling due within one year 11 (4,068) - NET CURRENT ASSETS 65,758 5,000 TOTAL ASSETS LESS CURRENT LIABILITIES 198,593 5,000 NET ASSETS 198,593 5,000 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
31.12.23 Total funds £ 132,835 10,299 64,527 74,826 (4,068) 70,758 203,593 203,593 198,593 5,000 203,593 |
31.12.22 Total funds £ 125,253 10,979 64,582 75,561 (3,765) 71,796 197,049 197,049 197,049 - 197,049 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 2023
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 20 March 2024 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 2023
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 2023
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
3.
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Donations | 35,752 | 36,105 |
| Grants received | 25,754 | - |
| 61,506 | 36,105 | |
| Grants received, included in the above, are as follows: | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Woodroffe Benton Foundation | 1,750 | - |
| The Eveson Trust | 4,000 | - |
| Garfield Weston Foundation | 5,000 | - |
| Edward Cadbury Trust | 750 | - |
| Misses Barrie Charitable Trust | 2,000 | - |
| The Screwfix Foundation | 4,800 | - |
| Heart of England Community Foundation | 954 | - |
| The 29th May 1961 Charitable Trust | 5,000 | - |
| Other grants | 1,500 | - |
| 25,754 | - | |
| OTHER TRADING ACTIVITIES | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Fundraising events | 15,290 | 11,090 |
continued...
Page 10
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
4. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| HMRC interest receivable | 26 | - |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Depreciation - owned assets | 4,593 | 2,169 |
| Other operating leases | 3,000 | 3,000 |
| Surplus on disposal of fixed assets | (306) | - |
5. NET INCOME/(EXPENDITURE)
6. 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 2023 nor for the year ended 31 December 2022.
7. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Wages and salaries | 42,544 | 37,021 |
| Other pension costs | 882 | 741 |
| 43,426 | 37,762 | |
| The average monthly number of employees during the year was as follows: | ||
| 31.12.23 | 31.12.22 | |
| Administrative staff | 4 | 4 |
No employees received emoluments in excess of £60,000.
continued...
Page 11
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 36,105 Charitable activities Recycling activites 21,406 Other trading activities 11,090 Total 68,601 EXPENDITURE ON Charitable activities Recycling activites 69,646 NET INCOME/(EXPENDITURE) (1,045) RECONCILIATION OF FUNDS Total funds brought forward 198,094 TOTAL FUNDS CARRIED FORWARD 197,049 |
Restricted funds £ - - - - - - - - |
Total funds £ 36,105 21,406 11,090 68,601 69,646 (1,045) 198,094 197,049 |
|---|---|---|
continued...
Page 12
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
9. TANGIBLE FIXED ASSETS
| COST At 1 January 2023 Additions Disposals At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year Eliminated on disposal At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 COST At 1 January 2023 Additions Disposals At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year Eliminated on disposal At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Long leasehold £ 164,677 - - 164,677 40,338 1,663 - 42,001 122,676 124,339 Motor vehicles £ 3,500 12,869 (3,500) 12,869 2,784 2,837 (2,806) 2,815 10,054 716 |
Plant and machinery £ 54,088 - - 54,088 54,088 - - 54,088 - - Computer equipment £ 3,836 - - 3,836 3,654 77 - 3,731 105 182 |
Fixtures and fittings £ 3,143 - - 3,143 3,127 16 - 3,143 - 16 Totals £ 229,244 12,869 (3,500) 238,613 103,991 4,593 (2,806) 105,778 132,835 125,253 |
|---|---|---|---|
continued...
Page 13
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes VAT Pension creditor Accrued expenses 12. 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 |
31.12.23 £ 1,950 8,349 10,299 31.12.23 £ - 529 985 176 2,378 4,068 31.12.23 £ 3,000 12,000 206,001 221,001 |
31.12.22 £ 4,605 6,374 10,979 31.12.22 £ 156 138 1,257 159 2,055 3,765 31.12.22 £ 3,000 12,000 209,001 |
|---|---|---|
| 224,001 |
Operating lease commitment relates to the rental charge on the long leasehold, included as a tangible fixed asset.
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Fire Doors Training Garden Project TOTAL FUNDS |
At 1.1.23 £ 197,049 - - - - 197,049 |
Net movement in funds £ 895 490 159 5,000 5,649 6,544 |
Transfers between funds £ 649 (490) (159) - (649) - |
At 31.12.23 £ 198,593 - - 5,000 |
|---|---|---|---|---|
| 5,000 | ||||
| 203,593 |
continued...
Page 14
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 88,102 | (87,207) | 895 |
| Restricted funds | |||
| Fire Doors | 4,800 | (4,310) | 490 |
| Training | 954 | (795) | 159 |
| Garden Project | 5,000 | - | 5,000 |
| 10,754 | (5,105) | 5,649 | |
| TOTAL FUNDS | 98,856 | (92,312) | 6,544 |
Comparatives for movement in funds
| At 1.1.22 £ Unrestricted funds General fund 198,094 TOTAL FUNDS 198,094 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 68,601 TOTAL FUNDS 68,601 |
Net movement At in funds 31.12.22 £ £ (1,045) 197,049 (1,045) 197,049 Resources Movement expended in funds £ £ (69,646) (1,045) (69,646) (1,045) |
|---|---|
Page 15
continued...
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Fire Doors Training Garden Project TOTAL FUNDS |
At 1.1.22 £ 198,094 - - - - 198,094 |
Net movement in funds £ (150) 490 159 5,000 5,649 5,499 |
Transfers between funds £ 649 (490) (159) - (649) - |
At 31.12.23 £ 198,593 - - 5,000 |
|---|---|---|---|---|
| 5,000 | ||||
| 203,593 |
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 | 156,703 | (156,853) | (150) |
| Restricted funds | |||
| Fire Doors | 4,800 | (4,310) | 490 |
| Training | 954 | (795) | 159 |
| Garden Project | 5,000 | - | 5,000 |
| 10,754 | (5,105) | 5,649 | |
| TOTAL FUNDS | 167,457 | (161,958) | 5,499 |
The incoming funds of the charity include restricted funds comprising the following:
-
Fire Doors
-
£4,800 received to cover the cost of replacement fire doors.
-
Training
-
£954 received to cover the cost of a manual handling instructor course for the warehouse manager.
-
Garden Project
-
£5,000 donated towards the costs of setting up and running the gardening programme.
The transfers made during the current year relates to where amounts received were in excess of amounts expended, and the donor gave permission for the Charity to expend the remaining funds as it wished, in accordance with the charitable objectives as set out in the deed of trust.
Page 16
continued...
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
15. FUNDS
As at 31 December 2023, restricted funds amounted to £5,000 (2022: £Nil). Restricted funds are expected to be expended in the next financial year.
All remaining funds of the Charity were unrestricted, which the Trustees are free to use in accordance with the charitable objectives as set out in the deed of trust.
Page 17
CROW - Coventry Recycling of Waste (Limited by Guarantee)
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| 31.12.23 | 31.12.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 35,752 | 36,105 |
| Grants received | 25,754 | - |
| 61,506 | 36,105 | |
| Other trading activities | ||
| Fundraising events | 15,290 | 11,090 |
| Investment income | ||
| HMRC interest receivable | 26 | - |
| Charitable activities | ||
| Sales from recycling | 21,728 | 21,406 |
| Other income | ||
| Gain on sale of tangible fixed assets | 306 | - |
| Total incoming resources | 98,856 | 68,601 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 42,544 | 37,021 |
| Pensions | 882 | 741 |
| Other operating leases | 3,000 | 3,000 |
| Premises costs | 4,876 | 6,099 |
| Materials purchased | 887 | 1,797 |
| Vehicle running costs | 3,439 | 2,614 |
| Telephone & PPS | 356 | 343 |
| Volunteer expenses | 782 | 965 |
| Canteen & cleaning | 421 | 343 |
| Repairs & renewals | 9,599 | 3,240 |
| Insurances | 15,916 | 7,851 |
| Sundry expenses | 1,961 | 775 |
| Bad debts | 767 | 277 |
| Bank charges | 155 | 95 |
| Depreciation of tangible fixed assets | 4,593 | 2,168 |
| 90,178 | 67,329 | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 1,960 | 1,810 |
| Carried forward | 1,960 | 1,810 |
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 2023
| 31.12.23 | 31.12.22 | |
|---|---|---|
| £ | £ | |
| Governance costs | ||
| Brought forward | 1,960 | 1,810 |
| Other professional fees | 174 | 507 |
| 2,134 | 2,317 | |
| Total resources expended | 92,312 | 69,646 |
| Net income/(expenditure) | 6,544 | (1,045) |
This page does not form part of the statutory financial statements
Page 19