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2022-03-31-accounts

Company number: 3064176 Charity Number: 1047985

The Gloucestershire Resource Centre Limited

Trustees report and financial statements For the year ended 31 March 2022

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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”, “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 Marian Marsh Catriona Reid Angela Porter Eleanor Murray appointed 27 May 2022 Elizabeth Hill Secretary appointed 1 May 2022 Linda Mathews Secretary resigned 30 April 2022

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

Chief Executive Officer: Elizabeth Hill appointed 1 April 2022 Linda Mathews retired 6 May 2022

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 2022

The Trustees present their report and the unaudited but independently examined financial statements for the year ended 31 March 2022. 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.

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.

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2022

The COVID-19 pandemic continued to impact the GRC this year with the Scrapstore opening back up in a staged manner and with staff working reduced hours for the first five months and only fully opening back up at the start of September 2022.

Volunteers

The GRC has a reduced number of regular volunteers due to COVID-19. Volunteers have always made a valuable contribution to the GRC however when restrictions were eased in September only one volunteer returned to GRC due to concerns for volunteers at higher risk from COVID-19 and changes in circumstances for others.

Scrapstore

The Scrapstore fully reopened from 7[th] September and members were able to access resources regularly once again. COVID safety measures were retained and use of the Scrapstore was steady and on target in terms of the budget.

Collections from businesses were reinstated and swaps with other Scrapstores started again later in the year.

City Works - office and studio spaces

City Works continues to thrive as a community hub and a high level of occupancy within the main building and the additional workshops on site was maintained despite COVID-19 affecting tenant organisations ability to fully utilise their offices this year There are 23 offices and 6 studio units in total.

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 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 at the start of 2021, but the GRC was back to normal opening hours as soon as restrictions were lifted. Members were credited with membership months lost due to the situation.

Scrapstore members continue to benefit from interesting, low-cost resources that promote creativity and fire the imagination. These resources support arts organisations to deliver wellbeing and mental health projects coming out of the pandemic and enable schools to facilitate projects that they would otherwise not be able to fund. The Scrapstore is also key to organisations like Play Gloucestershire who promote free play and “loose parts play” (see below) at the heart of everything they do. Alongside these groups and organisations, families and individuals are able to access very low-cost materials for play and creative projects that they might not be able to otherwise afford.

Loose Parts Play is a method of practice that encourages children to undertake their own learning using everyday objects rather than ‘toys’. Children are provided with a range of objects that have no specific play rules – a cable reel, rope, tyres, tubing, cones, fabric, containers, small objects like buttons, stones, leaves. Many of such items are available from the Scrapstore, and all of them can be played with using imagination and creativity, encouraging collaborative and more inclusive play.

City Works is home to numerous arts and community organisations and small enterprises whose activities all contribute to the vibrancy of the building and the success of the project as a whole. Opportunities to network and work

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2022

collaboratively are key benefits to being based at City Works, with many members of the Scrapstore working with the community organisations based here.

We also have one of the largest community owned solar installations in the region. This helps keep running costs to a minimum and benefits not only the GRC, but also everyone who rents our offices or uses the amenities.

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.

The SOFA/Income & Expenditure account shows an overall surplus of £5,033 which was a satisfactory result, given increased rental and Scrapstore income, offset by a large fall in grant income. The previous year was saved by nearly £68,000 of Covid relief grants, whereas only a small amount of furlough grant fell into the beginning of this financial year, plus the £20,000 Power for Change funding.

The increased rental income generated around £3000 of the surplus; see notes 5 and 6 to the financial statements showing approx £79k income as against £76k expenditure. While around £2000 of the surplus can be attributed to the charitable activities, ie grants, donations and the Scrapstore; see notes 3 and 4 showing income of approx £75k as against £73k expenditure, note 7.

Income

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

Membership Subscriptions were predicted to remain low due to reimbursing membership months lost and normal renewal cycles being interrupted. It is likely to take a further year to establish our membership base once again. Our members 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 continued home working for some tenants.

Room Hire has continued to be significantly affected by the pandemic however as soon as groups were able to restart they were keen to return, albeit with reduced attendance. This is positive for our future recovery.

Expenditure

Salaries

The Operations Assistant post was filled for one month in July 2021; however this appointment was unsuccessful, so the post was readvertised and a new Operations Assistant employed in January 2022. The core staff continued to be furloughed for reduced hours up until September 2022 when the Centre re-opened fully. The GRC topped up the furlough payment to 100% to safeguard the wellbeing of the staff throughout.

Heat & Light

Due to a slow return to using the offices within the building because of COVID 19 there was a reduction in the use of gas and electric in the building and on site throughout the year.

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2022

Capital Expenditure

£13,200 from the £20,000 awarded by Power for Change was used to purchase a replacement vehicle for Scrapstore collections. £2,869 from reserves was spent to install heat pump in the GRC office.

Summary

For the year the unrestricted income for the charity was £134,544 (2021: £143,949) and unrestricted expenditure was £140,194 (2021: £127,491) creating a deficit of £5,650 before fund transfers (2021: surplus of £16,458). The restricted income totalled £20,000 (2021: £5,000) and the associated restricted expenditure was £9,317 (2021: £2,483). £13,200 of the restricted income was used to fund capital expenditure and after accounting for that amount the year end movement in unrestricted funds was a surplus of £7,550 (2021: £16,458).

At the end of the year the charity’s total funds consisted of £511,745 (2021: £506,712) of which all were unrestricted (2021: £504,195) with nil restricted (2021: £2,517 restricted).

Of the unrestricted funds, £25,000 was the designated major change reserve for contingency costs and £8,374 designated shop stock. The building owned by the charity has a net book value of £443,029 including fittings and equipment, which is shown together with the net book value of the van £12,650 and computer equipment of £1,305 as the designated property assets fund totalling £456,984.

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 operations. The other designated funds represent the book value of the building and other capital equipment that the Charity owns, and £8,374 shop stock waiting to be sold.

The balance of £21,387 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

The GRC is aware that the recovery to pre COVID levels of activity is going to take time. A flexible approach will be needed by the staff team to maximise the use of spaces within the building and in attracting lapsed members back and new users to the core services. Concerted activity via social media platforms will be needed to ensure the GRC’s services stay at the forefront of people’s minds.

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 primarily regular classes and activities returning but at a reduced level. This will be the most challenging area to bring back to full capacity once again.

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2022

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. The COVID 19 pandemic has affected the national network of Scrapstores with many faces similar challenges to their core services as the GRC is facing. 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 continuing to work 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 replacement of old heating systems in the building.

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 8 (2021: 9). 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 8 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) Mark Gale Barbara Devine (Vice Chair) Marian Marsh Joanne White (Treasurer) Catriona Reid Clare Banbury Angela Porter

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The Gloucestershire Community Resource Centre Trustees’ annual report for the year ended 31 March 2022

The Gloucestershire Resource Centre supports the creative ambitions of groups and individuals 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.

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 are invited to make a financial contribution through an annual membership subscription.

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 2022 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 2022

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.

11 / 10 / 2022

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 2022

I report on the accounts of the charity for the year ended 31 March 2022 set out on pages 10 to 23.

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

24 / 10 / 2022

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 2022

Unrestricted
funds
Note
£
Income from:
Grants and donations
3
11,978
Charitable activities
4
43,469
Rental income and interest received
5
79,097
Total income
134,544
Expenditure on:
Raising funds
6
73,810
Charitable activities
7
66,384
Total expenditure
140,194
8
(5,650)
Transfer between funds
13,200
Net movement in funds for the year
7,550
Reconciliation of funds
Total funds brought forward
504,195
Total funds carried forward
511,745
Net income/(expenditure) for the year		 Restricted
funds
£
20,000
-
-
20,000
2,517
6,800
9,317
10,683
(13,200)
(2,517)
2,517
-		 Total funds
2022
£
31,978
43,469
79,097
154,544
76,327
73,184
149,511
5,033
-
5,033
506,712
511,745		 Unrestricted
funds
£
68,034
5,128
70,787
143,949
51,502
75,989
127,491
16,458
-
16,458
487,737
504,195		 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

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 2022

Note
£
£
Fixed assets
Tangible assets
13
456,984
Total fixed assets
456,984
Current assets
Stock
8,374
Debtors
14
16,058
Cash at bank and in hand
15
60,239
Total current assets
84,671
Liabilities
Creditors: amounts falling
due in less than one year
16
(29,910)
Net current assets
54,761
Total assets less current liabilities
511,745
Net assets
511,745
The funds of the charity:
Restricted income funds
17
-
Unrestricted income funds
18
511,745
Total charity funds
511,745
2022		 £
£
444,729
444,729
9,680
16,251
67,859
93,790
(31,807)
61,983
506,712
506,712
2,517
504,195
506,712
2021		 £
£
444,729
444,729
9,680
16,251
67,859
93,790
(31,807)
61,983
506,712
506,712
2,517
504,195
506,712
2021
444,729
61,983
506,712
506,712
2,517
504,195
506,712

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.

11 / 10 / 2022

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 2022

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 2022 (continued)

e 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.

f 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.

g 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.

h 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 consider that there should be nil depreciation charged on the freehold building. Since the charity keeps the property in very good condition it is obvious that the residual value will exceed the carrying value.

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2022 (continued)

i Stock

Stock that is purchased for resale 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 not valued in the accounts since the cost of doing so would outweigh any benefit to the users of the accounts.

j 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.

k 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.

l 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.

m 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.

n 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 2022 (continued)

3 Income from grants and donations

Donations
Covid-19 CJRS grant
Power to Change
Gloucester City Council
Gloucestershire Community Foundation
Total
Income from charitable activities
Donations from scrap
Subscriptions and memberships
Charitable shop sales
Total		 Unrestricted
£
275
11,703
-
-
-
11,978
Unrestricted
£
22,880
10,641
9,948
43,469		 Restricted
£
-
-
20,000
-
-
20,000
Restricted
£
-
-
-
-		 Total 2022
£
275
11,703
20,000
-
-
31,978
Total 2022
£
22,880
10,641
9,948
43,469		 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

4 Income from charitable activities

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2022 (continued)

5 Rental income and interest received

Rent and associated charges
Room hire
Feed-in Tariff
Income from bank deposits
Investment interest received
6
Cost of raising funds
Staff costs - building management
Premises costs for rented space		 Unrestricted
£
70,392
5,394
3,293
11
7
79,097
Unrestricted
£
52,155
21,655
73,810		 Restricted
£
-
-
-
-
-
-
Restricted
£
-
2,517
2,517		 Total 2022
£
70,392
5,394
3,293
11
7
79,097
2022
£
52,155
24,172
76,327		 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

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2022 (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
Surplus on disposal of asset
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 2022
£
26,505
6,597
9,564
15,017
5,880
3,030
1,541
330
204
476
117
3,813
(250)
360
73,184
6,800
66,384
73,184
2022
£
3,813
1,080
360		 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

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2022 (continued)

9 Staff costs

Total staff costs during the year were as follows:

al staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs		 2022
£
76,383
1,562
715
78,660		 2021
£
70,384
1,285
675
72,344

No employees has employee benefits in excess of £60,000 (2021: Nil).

The average number of staff employed during the period was 5 (2021: 5). The average full time equivalent number of staff employed during the period was 3 (2021: 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 £28,346 (2021: £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 (2021: 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 £1,200 for the year (2021: £1,000). 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 (2021:£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 (2021: nil).

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2022 (continued)

11 Givernment grants

The government grants recognised in the accounts were as follows:

Covid-19 CJRS grant
Power to Change
Gloucester City Council
Gloucestershire Community Foundation		 2022
£
11,703
20,000
-
-
31,703		 2021
£
46,130
-
21,670
5,000
72,800

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
Disposals
Depreciation
Charge for the year
Disposals
Net book value
At 1 April 2021
At 31 March 2022
At 31 March 2022
At 31 March 2021
At 1 April 2021
At 31 March 2022		 Freehold land
and building
£
664,954
-
-
664,954
252,050
-
-
252,050
412,904
412,904		 Fixtures and
equipment
£
67,665
2,868
-
70,533
35,840
3,263
-
39,103
31,430
31,825		 Vehicles
£
4,406
13,200
(4,406)
13,200
4,406
550
(4,406)
550
12,650
-		 £
737,025
16,068
(4,406)
Total
748,687
292,296
3,813
(4,406)
291,703
456,984
444,729

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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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2022 (continued)

14
Debtors
Trade debtors
Prepayments and accrued income
15
Cash at bank and in hand
Short term deposits
Cash at bank and on hand
16
Creditors: amounts falling due within one year
Trade creditors
Other creditors and accruals
Prepaid rental income
Taxation and social security costs		 2022
£
14,390
1,668
16,058
2022
£
-
60,239
60,239
2022
£
3,723
7,184
16,643
2,360
29,910		 2021
£
15,705
546
16,251
2021
£
11,471
56,388
67,859
2021
£
2,929
8,947
18,695
1,236
31,807

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2022 (continued)

17 Analysis of movements in restricted funds

Total
Power to Change
Gloucestershire
Community
Foundation		 Balance at 1
April 2021
£
-
2,517
2,517		 Income
£
20,000
-
20,000		 Expenditure
£
(6,800)
(2,517)
(9,317)		 Transfers
£
(13,200)
-
(13,200)		 Balance at 31
March 2022
£
-
-
-

The grant from Power to Change provided funding to restart the Scrapstore, including purchasing a new second hand van, initial vehicle expenses, employing a part time employee to engage with businesses and recommence collections, and professional fees. The transfer of £13,200 reflects the use of the restricted fund to buy the van. The van is not subject to a restriction so the funds have been released to unrestricted funds.

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

Comparative period
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

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The Gloucestershire Resource Centre Limited

Notes to the accounts for the year ended 31 March 2022 (continued)

18 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 2021
£
24,786
25,000
9,680
444,729
504,195
Balance at 1
April 2020
£
7,997
22,500
10,759
446,481
487,737		 Income
£
134,544
-
-
-
134,544
Income
£
143,949
-
-
-
143,949		 Expenditure
£
(140,194)
-
-
-
(140,194)
Expenditure
£
(127,491)
-
-
(127,491)		 Transfers
£
2,251
-
(1,306)
12,255
13,200
Transfers
£
331
2,500
(1,079)
(1,752)
-		 As at 31
March 2022
£
21,387
25,000
8,374
456,984
511,745
As at 31
March 2021
£
24,786
25,000
9,680
444,729
504,195

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

It is essential for the charity to maintain a certain level of stock which is not 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 2022 (continued)

19 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
£
456,984
(435,597)
21,387
General
fund
£
444,729
(419,943)
24,786		 Designated
funds
£
-
490,358
490,358
Designated
funds
£
-
479,409
479,409		 Restricted
funds
£
-
-
-
Restricted
funds
£
-
2,517
2,517		 Total 2022
£
456,984
54,761
511,745
Total 2021
£
444,729
61,983
506,712

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