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2021-03-31-accounts

Company number: 3064176 Charity Number: 1047985

The Gloucestershire Resource Centre Limited

Trustees report and financial statements For the year ended 31 March 2021

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The Gloucestershire Resource Centre Limited Reference and administration information

Company number 3064176 Charity number 1047985

Registered office and operational address City Works, Alfred Street, Gloucester, GL1 4DF

Also using the following names and known as “City Works Gloucester”, “The Scrapstore” and “The GRC”

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Patricia Williams Chair Barbara Devine Vice Chair Joanne White Treasurer Clare Banbury Mark Gale Sarah Holdcroft resigned 1 April 2021 Marian Marsh Catriona Reid Angela Porter appointed 23 July 2020 Linda Mathews Secretary

There were no trustees who held title to property belonging to the charity during the reporting period or at the date of this report.

Key management personnel

Linda Mathews Chief Executive Officer

Bankers

The Co-operative Bank 23A St Aldate Street, Gloucester, GL1 1RU

Solicitors

Willans LLP

28 Imperial Square, Cheltenham, GL50 1RH

Independent Examiner

Patrick Morrello ACA

Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester, M60 0AS

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2021

The Trustees present their report and the unaudited but independently examined financial statements for the year ended 31 March 2021. Included within the Trustees’ report is the directors’ report as required by company law.

Reference and administrative information set out on the previous page 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: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The charity’s objects and principal activities are to:

The mission statement reflects this: “The Gloucestershire Resource Centre seeks to increase opportunities for reaching and celebrating our own potential and appreciating it in other people through participation in arts, cultural and play activities.”

The main activities are:

The Trustees review the aims, objectives and activities of the charity each year. This report looks at what the Charity has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2021

Achievements and performance

The Charity's main activities and who it tries to help are described below. All its charitable activities focus on the operation of a Scrapstore and resource centre, creating a vibrant community hub, and are undertaken to further The Gloucestershire Community Resource Centre (“The GRC”)’s charitable purposes for the public benefit.

The impact of the COVID 19 pandemic was significant this year, closing the Centre for the majority of the year.

Volunteers

The GRC has a small group of regular volunteers who make a valuable contribution to the GRC. This year their contribution has ceased due to COVID 19 and the requirement by the Government for long periods of closure. Contact has been maintained with volunteers throughout so that they can return once the situation has improved and it is safe for them to return.

Scrapstore

The GRC’s Scrapstore service continued to provide vital resources for activities throughout the COVID 19 pandemic to the most vulnerable communities. This was achieved by working closely with outward facing partners and ensuring their access was maintained so they could deliver activities. When restrictions allowed, the Scrapstore opened and members were able to access once again. The restricted access due to the pandemic did not diminish members’ enthusiasm and confirmed the value our members place on the Scrapstore.

Throughout the year despite being closed the GRC continued to provide an active presence on social media platforms to keep members engaged and to provide ideas and support for activities at home.

City Works - office and studio spaces

City Works continues to thrive as a community hub and full occupancy within the main building and the additional workshops on site was maintained. There are 23 offices and 6 studio units on site.

Meeting rooms and studios

Due to COVID 19 and the requirement to close the centre the Dance Studio and Meeting/Art Room have not been used as in previous years. However, the Art Room was utilised by some tenant organisations working with local communities for packing resources for distribution to disadvantaged families and as a pick up point for families to collect vital food and activity packs during school holidays. Some regular projects re-started their activities in the Dance Studio as soon as restrictions allowed.

Beneficiaries of our services

Membership was interrupted due to COVID 19 but when the GRC was able to open, measures were introduced to credit membership months lost due to the situation.

Financial review

Overview

High occupancy rates for office rentals provided the majority of the GRC’s self generated income this year when all other income streams were impacted by the pandemic. Government support grants and additional COVID related funding streams provided a buffer as we had lost our ability to generate income through our services.

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2021

Income

Core Income

Scrap Sales were diminished due to COVID 19 following several years of rising income.

Membership Subscriptions were predicted to remain roughly equal with last year, however COVID 19 has interrupted our normal renewal cycles completely and will take a further year to establish our membership base once again. People are turning increasingly to the Scrapstore and Shop for low cost materials so their return to full use of the GRC is anticipated.

Rental Income has remained buoyant this year despite the circumstances and home working.

Room Hire has not been allowed due to the pandemic however as soon as restrictions were lifted groups were keen to return. This is positive for our future recovery.

Expenditure

Capital Expenditure

There was significant capital expenditure in the previous year to improve the carbon footprint at City Works, including replacing heating boilers and light fittings, as well as upgrading the GRC’s computers and server. This year £1322 was spent on installing electric wall heaters in East Wing ground floor, which was funded from GRC’s free reserves.

Salaries

Recruitment for a Scrapstore worker was interrupted at the start of the year by COVID 19. The core staff were furloughed during lockdown periods and returned to work part time as restrictions allowed. The GRC topped up the furlough payment to 100% to safeguard the wellbeing of the staff throughout the year.

Heat & Light

Due to the closedown of the building as result of COVID 19 measures were taken to minimise the use of gas and electric in the building and on site throughout the year.

Overall

The profit and loss for the year came out with a £18,975 surplus largely due to the reduction in running costs due to closure and being able to access Government support through the Furlough scheme and via local authority grants.

Summary

For the year the unrestricted income for the charity was £143,949 (2020: £170,665) and unrestricted expenditure was £127,491 (2020: £159,722) leaving a surplus of £16,458 (2020: £20,309). The restricted income totalled £5,000 (2020: £9,366) and the associated restricted expenditure was £2,483 (2020: £9,366) leaving a balance of £2,517 (2020: Nil).

At the end of the year the charity’s total funds consisted of £506,712 (2020: £487,737) of which £504,195 were unrestricted, and £2,517 restricted.

Of the unrestricted funds, £25,000 was the designated major change reserve for contingency costs and £9,680 designated shop stock. The building owned by the charity has a net book value of £442,502 including fittings and

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2021

equipment, which is shown together with the net book value of computer equipment of £2,227 as the designated property assets fund of £446,481.

The GRC staff pension scheme is with the People's Pension ethical fund. Where it is possible, ethical funds are chosen.

Reserves policy

The designated funds include £25,000 in order to meet statutory obligations should the charity undergo significant changes to its operation. The other designated funds represent the book value of the building and computer equipment that the Charity owns, and £9,680 shop stock waiting to be sold.

The balance of £24,786 in unrestricted funds is held as free reserves. The GRC will aim to build free reserves back up to £35,000 or over, firstly to ensure that the charity is able to continue with its activities in the event of any temporary fall in revenue, and secondly to meet major building repair costs should the need arise. The latter is particularly necessary given the size of the City Works site.

Plans for the future

Some rebuilding will be needed following the impact of COVID 19. The GRC is aware that there needs to be continual and concerted activity via social media platforms to ensure the GRC’s services stay at the forefront of people’s minds. The lively presence that has been built up needs to be maintained and used to inform future planning and delivery of services. An effective public profile is essential to attract people to City Works, whether to volunteer, use the core services, hire rooms for activities or rent workspace.

Core Services: Ongoing effort is made to effectively deliver services with minimal administration, although the nature of what we do requires a tight membership system to ensure safety and to meet the requirements for insurance cover to be maintained. We continue to keep a high level of engagement with our users and respond to members feed-back wherever possible or appropriate.

Room Hire is predominantly in-house usage by tenants and regular classes or activities.

Use of the Dance Studio has been compromised due to sound bleed with the adjacent office during office hours. A small area has been set up within the Dance Studio as a meeting space so that we can offer this for small, quiet meetings during the day. The issue of access to the Dance Studio is a major challenge for the future. Full accessibility including sound separation would open this space up for regular and constant use and could generate significant revenue both in and out of office hours.

The future looks positive, however we are aware that the GRC’s success relies, in part, on the health of the national network of Scrapstores, with whom we exchange materials. How the COVID 19 pandemic has affected the national network of Scrapstores will be revealed. On from that we are all reliant upon the survival of the manufacturing industry in the UK. However, these are factors over which we have very little control. One factor which will affect all Scrapstores is the presence of large quantities of plastic in the waste stream. The GRC has engaged with this issue and is working towards assessing the business surplus being collected and how we can reduce plastics in the Scrapstore and in the stock we sell in the shop.

There are also challenges facing us in funding large capital items such as a replacement Scrapstore van and ongoing replacement of old heating systems in the building.

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2021

Structure, governance and management

Legal structure and governing document

The organisation is a charitable company limited by guarantee without share capital which has been in operation since 1986; it was incorporated on 5 June 1995 and registered as a charity on 14 July 1995. The charitable company was established under a memorandum of association which confirms its objects and powers, and is governed under its articles of association.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees was 9 (2020: 8). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.

Organisational Structure

The charity is governed by the Management Committee made up of 9 Trustees who meet quarterly and are responsible for the strategic direction and policy of the Charity. All Trustees have professional backgrounds and/or expertise relevant to the work of the Charity. The day to day management of the charity is delegated to Linda Mathews, the Chief Executive Officer.

Recruitment and Appointment of Management Committee

The Directors of the company are also the Charity Trustees for the purposes of charity law, and are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected by the charity membership. Trustees who served in the financial year and up to the date of approval of the report were:

Patricia Williams (Chair) Barbara Devine (Vice Chair) Joanne White (Treasurer) Clare Banbury Mark Gale Marian Marsh Catriona Reid Angela Porter appointed 23 July 2020 Sarah Holdcroft resigned 1 April 2021

The Gloucestershire Community Resource Centre supports the creative ambitions of groups within the county through a subscription based membership scheme. Its strength as an organisation lies in the fact that it actively seeks to recruit Management Committee members from within its membership or those who have worked or volunteered within membership organisations in the past. This gives the Management Committee a diversity of expertise and leadership experience.

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2021

Trustee Induction and Training

Most trustees are recruited from the charity’s membership and are therefore familiar with the work and aims of the charity. Upon appointment, new trustees meet with the Managing Director who provides the background and context of the charity and discusses:

All new and existing Trustees are actively encouraged to participate in local training opportunities that aim to strengthen understanding of Trustee responsibilities and governance.

Related parties and relationships with other organisations

The GRC works closely and regularly with other Scrapstores nationally for the exchange of surplus materials. In addition the relationship we have with Associate Members that represent our long standing suppliers of the Scrapstore, companies that release their surplus materials on a regular basis and who make a financial contribution through an annual membership subscriptions.

Related parties and the transactions with them are described in note 10 to the accounts.

Risk Management

The Management Committee governs the Charity in line with the strategy for meeting its aims and states any associated developments and risks over ensuing years. The Trustees monitor performance against the goals set at quarterly meetings. A thorough annual review takes place in which potential risks are assessed and relevant strategies examined.

Internal risks to the Charity have been minimised by the authorisation procedures to safeguard finances from misappropriation and mismanagement.

As at 31 March 2021 the main risks facing the charity were considered to be:

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2021

Statement of responsibilities of the trustees

The trustees (who are also directors of GRC for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.

02 / 11 / 2021

The trustees’ annual report has been approved by the trustees on and signed on their behalf by:

Patricia Williams Chair of trustees

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Independent examiner’s report to the trustees of The Gloucestershire Community Resource Centre For the year ended 31 March 2021

I report on the accounts of the charity for the year ended 31 March 2021 set out on pages 10 to 24.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Patrick Morrello ACA Third Sector Accountancy Limited Holyoake House Hanover Street Manchester M60 0AS

02 / 11 / 2021 Date: ……………………………….

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The Gloucestershire Resource Centre Limited

Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2021

Unrestricted
funds
Note
£
Income from:
Grants and donations
3
68,034
Charitable activities
4
5,128
Rental income and interest received
5
70,787
Total income
143,949
Expenditure on:
Raising funds
6
51,502
Charitable activities
7
75,989
Total expenditure
127,491
8
16,458
Transfer between funds
-
Net movement in funds for the year
16,458
Reconciliation of funds
Total funds brought forward
487,737
Total funds carried forward
504,195
Net income/(expenditure) for the year		 Restricted
funds
£
5,000
-
-
5,000
2,483
-
2,483
2,517
-
2,517
-
2,517		 Total funds
2021
£
73,034
5,128
70,787
148,949
53,985
75,989
129,974
18,975
-
18,975
487,737
506,712		 Unrestricted
funds
£
1,101
75,791
93,773
170,665
49,121
110,601
159,722
10,943
9,366
20,309
467,428
487,737		 Restricted
funds
£
-
9,366
-
9,366
-
-
-
9,366
(9,366)
-
-
-		 Total funds
2020
£
1,101
85,157
93,773
180,031
49,121
110,601
159,722
20,309
-
20,309
467,428
487,737

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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The Gloucestershire Resource Centre Limited

Company number 3064176

Balance sheet as at 31 March 2021

Note
£
£
Fixed assets
Tangible assets
13
444,729
Total fixed assets
444,729
Current assets
Stock
9,680
Debtors
14
16,251
Current asset investments
15
-
Cash at bank and in hand
16
67,859
Total current assets
93,790
Liabilities
Creditors: amounts falling
due in less than one year
17
(31,807)
Net current assets
61,983
Total assets less current liabilities
506,712
Net assets
506,712
The funds of the charity:
Restricted income funds
18
2,517
Unrestricted income funds
19
504,195
Total charity funds
506,712
2021		 £
£
446,481
446,481
10,759
17,467
11,246
32,866
72,338
(31,082)
41,256
487,737
487,737
-
487,737
487,737
2020		 £
£
446,481
446,481
10,759
17,467
11,246
32,866
72,338
(31,082)
41,256
487,737
487,737
-
487,737
487,737
2020
446,481
41,256
487,737
487,737
-
487,737
487,737

For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes on pages 12 to 24 form part of these accounts.

02 / 11 / 2021

Approved by the trustees on ____ and signed on their behalf by:

Patricia Williams (Trustee, Chair)

Joanne White (Trustee, Treasurer)

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with 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) issued in October 2019 - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Gloucestershire Resource Centre Limited meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling.

b Judgments and estimates

The trustees have made no key judgments which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves of the charity to be able to continue as a going concern.

d Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

e Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

f Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

g Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

h Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

i Tangible fixed assets

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Freehold land and building 0%
Fixtures and fittings 7%
Equipment 25%
Vehicles 25%

The trustees considered that there should be a change in estimate regarding the freehold land and building, and that it should not be depreciated any further. As the charity keeps the property in very good condition it is obvious that the residual value will exceed the carrying value.

j Current asset investments

These consist of fixed rate bonds initially recognised at their face value and with a maturity date within one year from the date of the balance sheet. Interest earned is initially retained in the investment account and included in the balance as shown at the balance sheet date. The statement of financial activities includes any interest earned.

The Charity does not acquire put options, derivatives or other complex financial instruments.

k Stock

Stock is included at the lower of cost or net realisable value. In general, cost is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

l Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m Cash at bank and in hand

Cash at bank and cash 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.

n Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

o 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.

o Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 9. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within the charitable activities costs.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per trustee member of the charity. The registered office address is disclosed on the "Reference and administration information" page.

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

3 Income from grants and donations

Donations
Covid-19 CJRS grant
Gloucester City Council
Gloucestershire Community Foundation
Total
Income from charitable activities
Grants
Donations from scrap
Subscriptions and memberships
Charitable shop sales
Equipment hire
Total		 Unrestricted
£
234
46,130
21,670
-
68,034
Unrestricted
£
2,303
1,236
1,589
-
5,128		 Restricted
£
-
-
-
5,000
5,000
Restricted
£
-
-
-
-
-		 Total 2021
£
234
46,130
21,670
5,000
73,034
Total 2021
£
-
2,303
1,236
1,589
-
5,128		 Unrestricted
£
101
1,000
-
-
1,101
Unrestricted
£
34,958
19,346
21,270
217
75,791		 Restricted
£
-
-
-
-
-
Restricted
£
9,366
-
-
-
9,366		 Total 2020
£
101
1,000
-
-
1,101
Total 2020
£
9,366
34,958
19,346
21,270
217
85,157

4 Income from charitable activities

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

5 Rental income and interest received

Rent and associated charges
Room hire
Feed-in Tariff
Income from bank deposits
Investment interest received
Cost of raising funds
Staff costs - building management
Premises costs for rented space
Booking expenses		 Unrestricted
£
66,865
304
3,377
6
235
70,787
Unrestricted
£
35,291
16,211
-
51,502		 Restricted
£
-
-
-
-
-
-
Restricted
£
-
2,483
-
2,483		 Total 2021
£
66,865
304
3,377
6
235
70,787
2021
£
35,291
18,694
-
53,985		 Unrestricted
£
71,632
18,484
3,153
109
395
93,773
Unrestricted
£
23,864
25,061
196
49,121		 Restricted
£
-
-
-
-
-
-
Restricted
£
-
-
-
-		 Total 2020
£
71,632
18,484
3,153
109
395
93,773
2020
£
23,864
25,061
196
49,121

6 Cost of raising funds

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

7 Analysis of expenditure on charitable activities

Staff costs
Premises costs
Insurance
Professional fees
Cost of goods sold
Vehicle costs
General office costs
Publicity and marketing
Volunteer expenses and training
Bank charges
Other expenses
Depreciation
Restricted expenditure
Unrestricted expenditure
8
Net income/(expenditure) for the year
This is stated after charging/(crediting):
Depreciation
Accountancy
Independent examiner's fee
Independent examiner's fee		 Total 2021
£
37,053
5,051
9,921
16,107
1,420
350
1,945
270
-
426
12
3,074
360
75,989
-
75,989
75,989
2021
£
3,074
1,080
360		 Total 2020
£
54,673
7,414
9,768
15,802
14,679
2,989
1,564
502
496
745
176
1,463
330
110,601
-
110,601
110,601
2020
£
1,463
840
240

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

9 Staff costs

Staff costs during the year were as follows:

ff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs		 2021
£
70,384
1,285
675
72,344		 2020
£
75,571
2,417
549
78,537

No employees has employee benefits in excess of £60,000 (2020: Nil).

The average number of staff employed during the period was 4 (2020: 5). The average full time equivalent number of staff employed during the period was 3 (2020: 3).

The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £29,684 (2020: £29,684).

10 Trustee remuneration and expenses, and related party transactions

Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2020: Nil) except for the related party transaction shown below.

One trustee, Joanne White, is being paid for her role as Treasurer of the charity to ensure robust financial oversight following the retirement of the Financial Officer in 2018. This is invoiced via Cooperative Futures and amounted to £1,000 for the year (2020: £390). This is allowed as per article no 5 in the charity's Memorandum & Articles of Association and the Charity Commission has been informed.

No members of the management committee received travel and subsistence expenses during the year (2020:£Nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2020: nil).

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Notes to the accounts for the year ended 31 March 2021 (continued)

11 Grants received

The grants recognised in the accounts were as follows:

Covid-19 CJRS grant
Gloucester City Council
Gloucestershire Community Foundation		 2021
£
46,130
21,670
5,000
72,800		 2020
£
1,000
-
-
1,000

There were no unfulfilled conditions and contingencies attaching to the grants.

12 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

13 Fixed assets: tangible assets

Cost
Additions
Depreciation
Charge for the year
Net book value
At 1 April 2020
At 31 March 2021
At 31 March 2021
At 31 March 2020
At 1 April 2020
At 31 March 2021		 Freehold land
and building
£
664,954
-
664,954
252,050
-
252,050
412,904
412,904		 Fixtures and
equipment
£
66,343
1,322
67,665
32,766
3,074
35,840
31,825
33,577		 Vehicles
£
4,406
-
4,406
4,406
-
4,406
-
-		 £
735,703
1,322
Total
737,025
289,222
3,074
292,296
444,729
446,481

Following a survey in June 2014 the land and premises were valued at £957,000. The survey was conducted to show a more realistic value of the land and property, and also for insurance purposes.

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Notes to the accounts for the year ended 31 March 2021 (continued)

14
Debtors
Grants receivable
Trade debtors
Prepayments and accrued income
15
Current asset investments
3-year fixed rate bond
16
Cash at bank and in hand
Short term deposits
Cash at bank and on hand
17
Creditors: amounts falling due within one year
Trade creditors
Other creditors and accruals
Prepaid rental income
Taxation and social security costs		 2021
£
-
15,705
546
16,251
2021
£
-
-
2021
£
11,471
56,388
67,859
2021
£
2,929
8,947
18,695
1,236
31,807		 2020
£
1,000
16,467
-
17,467
2020
£
11,246
11,246
2020
£
10,343
22,523
32,866
2020
£
5,170
8,230
16,387
1,295
31,082

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

18 Analysis of movements in restricted funds

Total
Gloucestershire
Community
Foundation		 Balance at 1
April 2020
£
-
-		 Income
£
5,000
5,000		 Expenditure
£
(2,483)
(2,483)		 Transfers
£
-		 Balance at 31
March 2021
£
2,517
2,517

The grant from Gloucestershire Community Foundation was to cover additional costs relating to cleaning and other health and safety provision with regard to preventing the spread of Covid-19.

Comparative period

Total
South West Energy
Agency		 Balance at 1
April 2019
£
-
-		 Income
£
9,366
9,366		 Expenditure
£
-
-		 Transfers
£
(9,366)
(9,366)		 Balance at
31 March
2020
£
-
-

Name of restricted fund Description, nature and purposes of the fund

South West Energy towards replacement of heating system in part of the building owned by the Agency charity. These costs have been capitalised.

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

19 Analysis of movement in unrestricted funds

Comparative period
Designated major
change reserve
Designated shop stock
Designated property
assets fund
Designated major
change reserve fund
General fund
General fund
Designated property
assets fund
Designated shop stock		 Balance at 1
April 2020
£
7,997
22,500
10,759
446,481
487,737
Balance at 1
April 2019
£
29,844
22,500
-
415,084
467,428		 Income
£
143,949
-
-
-
143,949
Income
£
170,665
-
-
-
170,665		 Expenditure
£
(127,491)
-
-
-
(127,491)
Expenditure
£
(159,722)
-
-
(159,722)		 Transfers
£
331
2,500
(1,079)
(1,752)
-
Transfers
£
(32,790)
-
10,759
31,397
9,366		 As at 31
March 2021
£
24,786
25,000
9,680
444,729
504,195
As at 31
March 2020
£
7,997
22,500
10,759
446,481
487,737

Name of

unrestricted fund Description, nature and purposes of the fund

General fund

The free reserves after allowing for all designated funds

Designated major Held in order to meet statutory obligations should the charity undergo significant change reserve changes to its operation Designated stock It is essential for the charity to maintain a certain level of stock which is not reserves readily convertible into cash, the trustees think it prudent to exclude stock from free reserves

Designated property The fixed assets are essential for the future operation of the charity and so are assets fund excluded from free reserves.

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2021 (continued)

20 Analysis of net assets between funds

Tangible fixed assets
Net current assets/(liabilities)
Total
Comparative period
Tangible fixed assets
Net current assets/(liabilities)
Total		 General
fund
£
444,729
(419,943)
24,786
General
fund
£
446,481
(438,484)
7,997		 Designated
funds
£
-
479,409
479,409
Designated
funds
£
-
479,740
479,740		 Restricted
funds
£
-
2,517
2,517
Restricted
funds
£
-
-
-		 Total 2021
£
444,729
61,983
506,712
Total 2020
£
446,481
41,256
487,737

24

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