Company registration number: 03442518 Charity registration number: 1064628 CREATIVE LIVING CENTRE (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS 31 MARCH 2024 Horsfield & Smith Independent Examiner Tower House 269 Walmersley Road Bury Lancashire BL9 6NX
CREATIVE LIVING CENTRE CONTENTS Reference and Administrative Details Chair of Trustees Report Trustees Report 3to6 Statement of Trustees, Responsibilities Independent Examiner's Report 8t09 Statement of Financial Activities Iotoll Balance Sheet 12 Notes to the Financial Statements 13to30
CREATIVE LIVING CENTRE REFERENCE AND ADMINISTRATIVE DEfAILS Trustees Andrew Leeson Rachel Frances Hopkins Claire Dufy Nicola Jane Cooke Joanne Marie Wells Gareth Monger Julie Nicola Nelson-Hall Senior Management Team Lorna Wilson, Operations Manager Cody Hodkinson, Service Delivery Manager Registered Office IA Rectory Lane Prestwich Manchester M25 IBP The charity is incorporated in England. Company Registration Number 03442518 Charity Registration Number 1064628 Bankers Unity Trust Bank PIC 9 Brindley Place Birmingham BI 2HB Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE3 4PL The Charity Bank Fosse House 182 High Street Tonbridge Kent TN9 IBE Independent Examiner Horsfield & Smith Independent Examiner Tower House 269 Walmersley Road Bury Lancashire BL9 6NX
CREATIVE LIVING CENTRE CHAIR OF TRUSTEES REPORT This year the centre has widened it's offer in a variety of ways- Opening our Sunshine Café for free social spaces each day, with the addition of a Breakfast Club on Monday mornings and Warm Hubs on Tuesdays and Thursdays New and returning therapies - music therapy (group and I:Is), animal therapy {group), tailored bereavement art therapy {group), psychodrama11:l) Expanded our physical activity offering, including pilates and chair-based exercise, and the return of boxercise and bike group. Creative sessions, including new -How to... workshops, a Journalling Club, pottery {in collaboration with Claytime), and Drama for Fun (in collaboration with Tandem Theatre) Outdoor activities, including an Allotment Group, a Gardening Group (in collaboration with Lancashire Wildlife Trust), and funded walking events through Greater Manchester Walking Festival {Burrs Country Park in May 2023, Castlefield Viaduct in May 20241 Setting up the Men's Support Group, to run alongside our existing Women's Support Group. Cooking classes I:1 Sensory sessions Collaborating with Jobcentre Prestwich, providing members with a weekly on-site drop-in with a Disability Employment Advisor. A number of one-off sessions and multi-week courses with external organisations, including Cruse Bereavement, Sow the City, Claytime, Age UK. The centre has focused on providing more group activities and has been very successful in doing so.Overall attendance has remained consistent with previous year5, despite a 20% redurtion in day5 of operation (4 per week in 23/24, down from 5 per week in 21/22 and half of 22/23). Feedback from member5 has been overwhelmingly positive with 97% rating artivities a5 Good or Excellent, and more than 85% stating that their attendance had helped them to develop new 5ki115 increased their confidence, and made them feel more connerted to others. There have been a number of staffing changes, and our new Interim Chief Officer joined us in April 2023. Other new staff appointments include a Cafe Leader, Support Coordinator, Reception and Office Administrator, Allotment Garden Support Worker, and Cleoner.The centre has also provided continued development for its staff ond volunteers, in porticular through partnerships and specialist training with external orqanisotions such as Bolton VCFA and Salford Autism. The Board of Trustees has represented the charity well by ottending various local events at the MACC ond at the Bury VCFA thereby representing the charity's interests and raising the profile of the charity in the locGI area. The trustees have also ensured that they continue to attend training sessions of relevance and value. The AGM was held in February 2024 and was well attended by staff, members, trustees and volunteers. The Chief Office and Chair of Trustees both addressed the oudience and there wos good participation and engagement including an extensive discussion about the proposed regeneration plans for Prestwich and how those plans might impart the centre. It was particularly pleasing to note that Debra Green, Labour Councillor attended and contributed significantly to the discussions. Whilst the centre has been successful in securing u range of smoller donations it was not successful in securing o new source offunding to replace Henry Smith and The Big Lottery income streams both of which are concluding during 2024. Efforts therefore continue to address this important issue.
CREATIVE LIVING CENTRE TRUSTEES REPORT The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectives and activities The company's objectives, as stated in the Articles and Memorandum of Association, are: il to promote the preservation of mental health and to assist in relieving persons suffering from emotional or mental distress requiring advice or treatment. and ill to promote the education of the public in mental health issues. The Creative Living Centre is a community resource which offers a range of courses, activities, social sessions, counselling and therapies; with the aim of helping people better understand and manage their mental health. In 2019 we reviewed our vision, for 'a society where responsive, person-centred mental health services are available to all,, and this of course forms the guiding principle underlying the work at the Centre, with people's feedback being key to how the service develops. Based on analysis of attendance data, and feedback from our members, we introduced additional l-l sessions following our new member appointments, so people are offered more support in the initial stages of accessing the Centre and choosing from the wide range of activities on offer. Each person then moves at their own pace and for as long as needed. We continue to collect regular data and case studies to help us understand the difference the Centre is making, what changes we may need to make, and to celebrate the incredibly courageous stories of those who attend our Centre. Public benefit The Trustees have had due regard to the Charity Commission's guidance on public benefit when planning and delivering services at the Creative Living Centre. Activities and developments at the Centre are guided by the wishes and needs of the service users {Members), working in collaboration with partners to ensure our service networks effectively with the statutory and voluntary sector. Financial review Reserves policy The Trustees have reviewed CLC'S Reserves Polioi and have agreed to update it to better reflect the current risks to the Centre as well as ensuring consistency with Charity Commission guidance. The Centre has reduced the redundancy resenie down to £20.000 as a number of longer serving staff left over the last year lour Human Resources Trustee has confirmed this to be a prudent amount given the current level of staff service). The wind down reserve remains the same at £10,000, however CLC has reduced the dilapidations reserve down to £20,000 as funds have recently been spent on the building, addressing some minor structural issues over 2023/24. The Centre has added a reserve of £70,000 to cover its lease liability as it has just passed a lease review date and is now committed to 2027 before the next review date. This gives a revised total reserve of £120,000. The Centre's Reserves Policy has been updated to reflect these figures.
CREATIVE LIVING CENTRE TRUSTEES REPORT Investment powers Under the Memorandum and Articles of Association, the charity has the power to make any investment which the Trustees see fit. Trustees and officers The trustees and officers serving during the year and since the year end were as follows- Trustees- Andrew Leeson Rachel Frances Hopkins Nigel Hoolachan (Resigned 13 February 2024) Claire Duffy Nicola Jane Cooke Sarah Janine Brooks (resigned 16 May 2023) Joanne Marie Wells {appointed 3 April 20231 Gareth Monger (appointed 13 June 2023) Julie Nicola Nelson-Hall (appointed 12 June 20241 Senior management/ leadership team Alastair McGregor, Chief Officer (resigned 30 June 20241 Lorna Wilson, Operations Manager Cody Hodkinson, Service Delivery Manager The trustees acknowledge their responsibility to consider material risks and their impact on the charity's operations. The major risks to which the charity is exposed will be identified and effectiveness of controls to mitigate the risk will be monitored by the Trustees. Chief officer The Chief Officer resigned from his post in June 2024 in accordance with his contractual agreement. The Centre has not yet appointed a replacement and the Chief Officer duties are currently being undertaken by the current Operations Manager and Service Delivery Manager. Structure, governance and management Constitution policies On 30 September 1997 the Creative Living Centre became registered with the Charity Commission under registered charity number 1064628. On 25 September 1997 the Creative Living Centre became registered at Companies House as a Company Limited by Guarantee, registered number 3442518. The company was set up by a Memorandum of Association dated 25 September 1997. The Articles and Memorandum of Association of the Creative Living Centre can be located at Companies House and in the Charity's office {copies being available on request).
CREATIVE LIVING CENTRE TRUSTEES REPORT Orgonisotional structure The charity is governed by the trustees who meet monthly as a board. The Centre has a Chief Officer, responsible for strategy, funding, partnerships and overall service delivery, under the Euidance of the Trustees {see the Chief Officer's Report). Limited by guarantee The company is a company limited by guarantee. The members of the company are the Trustees named on page l. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company. Method of appointment or elertion of Trustees The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The Chairperson of the Board of Directors is elected by the Board. The Treasurer is also elected by the Board. The Board of Trustees may at any time elect additional Trustees by calling a General Meeting. Recruitment, indurtion ond training of trustees Recruitment of Trustees The Board is mindful of the overall mix of skills and experience in recruiting new trustees. Interest is normally generated through advertisements and/or contacts and candidates are interviewed by at least two existing trustees following formal application. If successful at interview, appointment is confirmed subject to satisfactory references and statutory checks. Trustees organise annual trainingldevelopment events where the trustees meet up and look at future strategy, allocate responsibilities and get updates from external trainers in best practice in charity governance.
CREATIVE UVING CENTrE TRUSTEES REPORT Dlrectors and thelr Interests The dlrertors are the Trustees for charltable purposes. The Dlrertors had no beneficial Interest In the CreatFve Livin8 Centre. Rlsk fflonooemert The Trustees have assessed the Major risks to which the company is exposed, In partlcular those related to the operations and finances of the company, and are satlsfied that systems are in place to miti8ate our exposure to the major rlsks. Slnce our last annual report, our Risk Register has been revlewed and s18ned off. and a 8uslness Contlnufty Plan put In plao. The major areas of rlsk are Identtfied as: - Sudden and unexpected loss of irKome andlor frdllure to secure adequate external fundin8 WÉth consequences for cash flow and partlcularly payroll and premlses costs. - General financial risks such as sudden and significant expenditure (e8 building repairs), operdtional risks leg105s of key stsff, IT systems) requirement to comply with chan8lrB le8islatlon etc. - Risk of injury to staff, members or volunteers or other third parties resuftin8 in legal action a8ainst the Centre resultln8 In the need to employ legal defense. The finandal consequences of the above are covered by either our Reserves policy or by Insuran. The rfsks faclr¥ the tharlty wlll continue to change and existlng and proposed actfvity will be re8ularty revlewed by Key Management and Trustees. Small companle5 provlslon statern Thls report has been prepared in accordance with the small companles re8ime under the Companies Act 2CrfJ6. The annual report was approved by the trustees of the charlty on 16 October 2024 and 518ned on Its behalf by: Trustee
CREATIVE LIVING CENfRE STATEMENT OF TRusfEES' RESPONSIBILrriES The trustees (who are also the dlrectors of Creatlve Lm Centre for the purposes of company law) are responsible for preparing the trustees, port and the financ5al statements in accordance with applkable law and Unlted Kln8dom Accounting Stsndards {United Kln8dom Generalty Accepted Accountlng Practlce). Indudln8 FRS 102 Tr Flnandal ReportSn8 Standard appllcable in the UK and Republic of Ireland.. The report and accounts have been prepared in accordance with the provisions in the Companies Art 21X)6 relating to Thll companles. Compary law requires the trustees to prepare financial statements for each financial year. Under cornpany law the trustees must not approve the finanaal statements unless they are satisfied that they give a true and falr vlew of the stste of affairs of the charitable company and of the Incomin8 resources and applicatlon of resources. induding its income arKI expenditure, of the charitable company for that perlod. In preparing these financial statements. the trustees are requlred to: • select suitable accountln8 polkles and apply them consistent. • observe the methods and prfnaples in the Charftles SORP; make Judgements and estlmates that are rea%>nable and pneft¢ state whether applicable accounting standards. comprising FRS 102 have been followed, subject to any material departures dtsclosed and explalned In the financlal statements; and prepare the financial statements on the golNd concern basis unless it is Inapproprlate to presume that the charltable company wlll contlnue In buslness. The trustees are responsible for keeping proper accountiru records that can disdose wlth reasonable accuraLy at any tlme the financial posft5on of the charftable company and enable them to ensure that the financial ststements comply with the Companies Art 2(X16. They are also responsible for safeguarding the assets of the dmritable company and hen for takin8 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 infomiation included on the charitsble companvs website. Legislatlon governin8 the pparation and dlsseminatlon of financlal statements may differ from le8lslation in otherjurlsdictions. Approved by the truste of the charity on 16 October 2024 and slgned on its behalf by. Andrew Leeson Trustee
CREATIVE LIVING CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CREATIVE LIVING CENTRE I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the chariws trustees of the Company (and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 ACYI. 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 charitTrls 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{5llbl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the accounts present a 'true and fairf view and my report is limited to those specific matters set out in the independent examinerfs statement.
CREATIVE UVING CENTRE INDEPENDENT EXAMINER'S REPORTTO THE TRusfEES OF CREATIVE UVING CENTRE Independent examinerfs ststement Since the Company's gross income exceeded £250.IX(J your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connectlon wlth the examination giving me cause to believe: l. accounting records were not kept in respect of Creative Llving Centre as required by section 386 of the 2006 Act: or 2. the accounts do not accord wlth those records: or 3. the accounts do not comply wlth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination: or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. PG Nicol FCA Independent Examiner ICAEW Tower House 269 Walmefsley Road Bury Lancashire BL9 6NX 16/10/24
CREATIVE LIVING CENTRE STATEMENT OF FINANCIAL AcfiviTIES YEAR ENDED 31 MARCH 2024 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Unrestrirted funds Restricted fvnds Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities 1,794 178,810 1,794 380,065 201,255 Total income 180,604 201,255 381,859 Expenditure on: Raising funds Charitable activities 912 (118,3671 912 {368,3241 1249,957) Total expenditure (117,4551 1249,957) {367,4121 Net income/lexpenditurel Transfers between funds 63,149 4,858 (48,7021 14.858) 14,447 Net movement in funds 68,007 (53,560) 14,447 Reconciliation of funds Total funds brought forward 164,080 134,190 298,270 Total funds carried forward 19 232,087 80,630 312,717 io
CREATIVE LIVING CENTRE STATEMENT OF FINANCIAL AcfiviTIES YEAR ENDED 31 MARCH 2024 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Comparative Statement of Financial Activities to 31st March 2023 Unrestricted funds Restricted funds Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities 2,009 171,139 2,009 418,580 247,441 Total income 173,148 247,441 420,589 Expenditure on: Raising funds Charitable activities 832 (145,1551 832 {376,9511 1231,796) Total expenditure (144.3231 1231.796) {376,1191 Net income 28,825 2,984 15,645 12,984) 44,470 Transfers between funds Net movement in funds 31,809 12,661 44,470 Reconciliation of funds Total funds brought forward 132,271 121,529 253,800 Total funds carried forward 19 164,080 134,190 298,270 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 19. li
CREATIVE LMNG CEPITrE BALANCE SHEEr AS AT 31 MARCH 2024 (REGisfRATION NUMBER: 03442518) 2023 Tangible assets 14 7,733 4.359 Debtors 15 36,761 284.763 17.961 290,259 Cash at bank and In hand 16 321,524 308,220 Cr[tOr&. Amounts falllryl due wlthln one year 14,309 304,984 293.911 Net assets 312.717 298,270 Funds of the ¢harlly. Restrirted funds 80,630 134.190 Unrestricted funds 232,087 164,080 Total funds 19 312.717 298,270 For the financlal year endlnB 31 March 2024 the charity ds entided to exernption from audit under section 477 of the Companies Act 21J)6 relatlry to small companies. Dlrectors, respon51bllities: The members have not requlred the charlty to obtaln an audlt of Its accounts for the year In question in accordance with sectlon 476; and The dlrectors acknowledge thelr responslbllltles for compl8 wfth the requlrements of the Act wlth respect to accounting records and the preparatlon of account& These financial statements have been prepared In accordance wlth the special provisions relatlng to companles subject to the small companies reglme withln Part 15 of the Companles Act 21x16. The financial statements on pages 10 to 30 were approved by the trustees. arKI authorised for issue on 16 October 2024 and signed on their behalf by: AndW Leeson Trustee 12
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l General information Creative Living Centre is a registered charity operating from Prestwich. The charity is a company limited by guarantee and is incorporated in England and Wales. The address of its registered office is IA Rectory Lane, Prestwich, Manchester, M25 IBP. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance Creative Living Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 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) {effective l January 20151 (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Greater Manchester Integrated Care System (ICS): previously Bury Commissioning Group until July 2022- continues to be our main funder. In 2021 the former CCG committed to commissioning our services to 31st March 2025. The current funding from the Big Lottery will cease in August 2024 and the funding from the Henry Smith Foundation will also cease during 2024. CLC is actively seeking further funding from both the Natinal Lottery and Henry Smith Foundation as well as other organisations. 13
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Going concern The Centre continues to receive committed support from its volunteers and Trustees, and staff and Trustees continue to monitor the Centre's financial position to ensure the charity provides a quality service, within budget. Forecasts have been prepared which indicate that the Centre would be able to continue providing services until February 2025 when the current level of funds become insufficient to cover its current level of services without securing additional funding. The Centre is actively placing bids with large funding organisations using a firm of professional funding bid specialists to ensure a high quality of written submissions that highlight the ra nge of activities and successful outcomes are achieved by service users. The Trustees believe that it is appropriate to prepare the accounts on a going concern basis. The accounts do not include any adjustments that may be necessary if future funding cannot be secured. Company status The company is a company limited by guarantee. The members of the company are the Trustees named on page l. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the company for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income and endowments All incoming resources are included in the Statement of Financial Activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy. Donated services or facilities, which comprise donated services. are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party- All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Expenditure All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. 14
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Raisingfunds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Governance costs Governance costs are those incurred in the governance of the Charity's assets and are associated with constitutional and statutory requirements. Support costs Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company. Recognition of liabilities Liabilities are recognised once there is a legal or constructive obligation that commits the company to the obligation. Tangible fixed assets and depreciation The Trustees carry out impairment reviews in accordance with section 27 of FRS 102. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value. over their expected useful lives on the following basis: Asset class Leasehold property improvements Computer equipment Kitchen equipment The Trustees only capitalise items greater than £500. Depreciation method and rate Over the remaining term of lease 33.3% reducing balance 25% straight line Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. 15
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Financial instruments The company only enters into basic financial instruments transactions that result in the recognition of financial assets and libilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable. are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year. typically trade payable or receivables, are measured, initially and subsequently. at the undiscounted amount of the cash or other consideration, expected transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially. at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Financial Activity. For financial assets measured at amortised cost. the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined unde the contract. For financial asstes measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously, Creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. 16
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Judgement in applying accounting policies and key sources of estimation uncertainty The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying acounts of assets and liabilities within the next financial year are addressed below. {il Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 13 for the carrying amount of the property pland and equipment, and the accounting policy for tangible fixed assets and depreciation for the useful economic lives for each class of asset. {iil Impairment of debtors The company makes an estimate of the recoverabe value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 14 for the net carrying amount of the debtors. 3 Income from donations and legacies Unrestrirted funds General Total funds Donations 1.794 1,794 Total for 2024 1,794 1,794 Total for 2023 2,009 2,009 17
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 4 Income from charitable activities Unrestricted funds General Restricted funds Totsl funds Note External funding Charitable income - Centre generated income 148,498 201.255 349,753 30,312 30,312 Total for 2024 178,810 201,255 380,065 Total for 2023 171,139 247.441 418,580 5 External funding Unrestrirted Total 2024 Total 2023 General Restricted Bury CCG Parklife Community Fund Bury MBC Natwest Group Henry Smith Charity Lottery RC funds Trafford CCG 143,498 143.498 139,188 900 2,130 1,800 44,500 133,444 19,000 5,000 2,000 20,000 1,240 4,623 8,304 4,500 60,000 119,523 60,000 119,523 TFGM Big Fandango Garfield Weston Asda Greatersport LWT ICM) loo The Neighbourley B&Q Fund A J Bell cooking with confidence 5CMJ 500 Bury VCFA cost of living project Benefact Group National Allotment Gardens Trust 1,875 1,875 5.000 1,307 500 1.307 500 Neighbourly Lidl Forever Manchester utilities support 2,500 2,500 18
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Total 2024 Total 2023 General Restricted Bury Council cost of living communityfund Natwest SOS fund 2,000 1,500 2,000 1,500 Aviva Crowd Funder lallotmentl Onward Homes allotment fund 1,396 1,396 2,496 1,200 4,858 1,500 2.496 1.2(K) 4,858 1,500 Bury MBC Lets do it TFGM community action grant Animal Therapy 148,498 201,255 349,753 386,629 6 Charitable income- Centre generated income Unrestricted Total 2024 Total 2023 General Member contributions 15,111 6,568 5,799 2,079 231 15,111 6,568 5,799 2,079 231 13,137 6,836 8,832 891 Therapy Room hire Net income from lunches Other income 1,467 788 Interest on cash deposits 524 524 30,312 30,312 31,951 19
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 7 Expenditure on charitable activities Unrestricted funds General Restricted funds Totsl funds Note Centre Artivity for Members Activity undertaken directly Support costs 18,817 99,550 194,550 55,407 213,367 154,957 Total for 2024 118,367 249,957 368,324 Total for 2023 145,155 231,796 376,951 8 Activity undertaken directly Centre activities for members Total 2024 Total 2023 Wages and salaries Social security costs Pension costs 88,398 5,160 6,163 12,209 59,894 21,390 17,041 1.861 532 88,398 5,160 6,163 12,209 59,894 21,390 17,041 1.861 532 163,184 12,188 6,697 16,415 47,881 28,961 3,959 2,274 2,095 1,226 General office expenses Rental of accommodation Sessional payments Sundry expenses Volunteer expenses Advertising and social media Equipment 719 719 213,367 213,367 284,880 20
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9 Support costs Centre activities for members Total 2024 Total 2023 Depeciation Staff salaries 1,484 137.240 9.285 6,948 1,484 137.240 9.285 6,948 657 66,662 4,883 19,869 Sundry expenses Governance costs 154,957 154,957 92,071 10 Net incomingloutgoing resources Net incoming resources for the year include: 2024 2023 Operating leases - other assets Independent Examiner fees Other non-audit services 31,275 3,930 31,275 2,880 90 657 Depreciation of fixed assets 1,484 11 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 21
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12 Staff costs The aggregate payroll costs were as follows- 2024 2023 Staff costs during the year were: Wages and salaries Social security Costs Pension costs 218,806 11,992 6.163 229,846 12,188 6,697 236,961 248,731 The charity benefited in the year from the time donated by up to 2012023: 201 volunteers, including trustees, who provide service5 which would otherwise need to be provided by paid employees. The monthly average number of persons employed by the charity during the year was as follows: 2024 2023 Centre staff 12 14 No employee received emoluments of more than £60.(XX) during the year. The Service Delivery Manager, as the highest paid member of staff, received benefits totalling £35,04512023 - the Senior Support Co-ordinator £27,578). 13 Taxation The charity is a registered charity and is therefore exempt from taxation. 22
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 Tangible fixed assets Leasehold property improvements Kitchen equipment Computer equipment Bikes Total Cost At l April 2023 Additions 136,164 3,436 17,860 157,460 4,858 4,858 At 31 March 2024 136,164 3,436 4,858 17,860 162,318 Depreciation At l April 2023 Charge for the year 136,164 3,436 13,501 153,101 1,484 1,484 At 31 March 2024 136,164 3,436 14,985 154,585 Net book value At 31 March 2024 4,858 2,875 7,733 At 31 March 2023 4,359 4,359 15 Debtors 2024 2023 Trade debtors 11,572 25,189 4,695 13,266 Other debtors 36,761 17,961 16 Cash and cash equivalents 2024 2023 Cash on hand 1,065 283,698 1,640 288,619 Cash at bank 284,763 290,259 17 Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 16,540 14,309 23
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18 Obligations under leases and hire purchase contracts Operating lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Land and buildings Within one year Between one and five years 31,275 65,156 31,275 2,606 96,431 33,881 The Charity entered into a new ten year operating lease for the rental of their premises from 29th April 2021. The Charity passed the first review date on 29 April 2024, the next review date is 29th April 2027 and each third anniversary of this date. 19 Funds Balance at l April 2023 Balance at 31 March 2024 Incoming reSoUrS Resources expended Transfers Unrestricted General 70,980 181,516 (118,367) 122,042) 112,087 Designated Property fund General fund 30,000 35,000 28,100 60,000 {5,0001 128,100) 90,000 30,000 Allocated funds Total unrestricted 164,080 4,489 97,327 181,516 60,000 119,523 (118,3671 (50,882) (165,144) 4,858 232,087 13,607 51,706 Henry Smith Charity National Lottery Bury Council Town of Culture 250 (250} 1253) The Liz Thompson Fund Community Climate Action Fund 253 458 1458} Cycle and Stride for Active Lives 2,395 {1,601} 794 Garfield Weston Foundation 12,992 (12,992) 24
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Balance at l April 2023 Balance at 31 March 2024 Incoming reSoUrS Resources expended Transfers Greatersport Together Fund 4,623 100 {2,952) 1,771 Greenspace Community Fund 8,304 {5,479) 2,825 The Neighbourly B&Q Fund 3,099 {3,099} A J Bell Cooking with confidence 500 1500) Bury VCFA Cost of living project National Allotment Garden Trust 1,875 {1,875) 1,307 500 164) 1500} 1,243 Neighbourly Lidl Forever Manchester utilities support Bury Council cost of living community fund Natwest SOS fund 2,500 {1,343) 1,157 1180) {1,500} 1,820 1,500 Aviva Crowd Funder lallotmentl Onward Homes allotment fund 1,396 1885) 511 2,496 1,200 2,496 1,200 Bury MBC Let's do it TFGM Community Action Grant 4,858 {4,8581 The Manchester Guardian Society {animal therapy) 1,500 1,500 Restricted 134,190 201,255 (249,957) 14,8581 80,630 Total funds 298,270 382,771 (368,324) 312,717 25
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Prior year fund analysis Balance at l April 2022 Balance at 31 March 2023 Incoming resour5 Resources expended Transfers Unrestricted General 39,171 173,980 (145,155) 2,984 70,980 Designated Property fund General fund 30,000 35,000 28,100 30,000 35,000 28,100 Allocated funds Total unrestricted 132,271 8,017 101,636 173,980 44,500 133,444 {145,155} (48,028) (137,753) 2,984 164,080 4,489 97,327 Henry Smith Charity National Lottery AJ Bell Trust Wage War on Covid 3,194 {3,194} {1,800} 1900) {1,290) {1,360) Natwest Group DIYSOS Parklife Community Fund Ambition for Ageing Peter Kershaw Trust 1,800 900 1,290 1,360 Bury Council Town of Culture 250 250 Bury MBC Move It The Liz Thompson Fund Community Climate Action Fund 2,982 750 {2,519) (497) (463) 253 1,710 {1,252} 458 Barchester Charitable Foundation 340 1160) {2,070) 1180) 1601 Wellbeing in Care Homes Trafford CCG Crisis Alternatives Grant 2,130 19,000 (18,024) (976) Cycle and Stride for Active Lives {2,605) (764) 2,395 Jubilee Quilt Fund Garfield Weston Foundation {1,2361 20,000 1,240 {7,008} {1,171} 12,992 Asda Foundation 1691 Greatersport Together Fund 4,623 4,623 Greenspace Community Fund 8,304 8,304 26
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Balance at l April 2022 Balance at 31 March 2023 Incoming reSoUrS Resources expended Transfers The Neighbourly B&Q Fund 4,500 11,401} 3,099 Restricted 121,529 247,441 (231,7961 12,9841 134,190 Total funds 253,800 421,421 {376,951} 298,270 27
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 The specific purposes for which the funds are to be applied are as follows: Henry Smith Charity - post covid recovery funding to cover existing staff salaries and additional capacity. National Lottery- community fund for Takepart and Outreach Coordinators and staff time. Bury Council Town of Culture - towards arts and crafts sessions as part of outreach. Bury MBC Move it- funding for exercise classes for members. The Liz Thompson Fund - funding for staff development. Community Climate Action - funding to regenerate the garden and allotment, growing and cooking plant based food for our cafe. Cycle and Stride for Active Lives- funding to provide walking and cycling classes. Garfield Weston Foundation - funding towards supporting the cafe, providing a cafe/nutrition leader and supplies. Greatersport Together Fund - funding to continue the bike project. Greenspace Community Fund Gardening project with LWT to provide 12 hours per week for 12 months. The Neighbourly B&Q Fund - funding for building and repair works. A J Bell Cooking with confidence, to fund staff time, volunteer expenses, equipment and ingredients for cooking classes. Bury VCFA cost of living project- funding to deliver 15 3 hour cooking classes. National Allotment Gardens Trust - funding to privide equipment, seeds and plants. Neighbourly Lidl - to fund fakeaway Thursday cooking classes. Forever Manchester- utilities support to fund gas and electricity costs. Bury Council Cost of living community fund volunteer and staff costs. contribution to ingredients for warm hubs and Natwest SOS fund - funding for building works in the therapy rooms. Aviva Crowdfunder (allotment)- to pay for sow the city course and staff and equipment costs. 28
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Onward Homes allotment fund - to fund allotment lead salary costs. Bury MBC Let's do it - funding for digital hub building/furniture works. TFGM Community Action Grant - to purchase accessible bikes to enable participation in the bike group. Manchester Guardian Society {animal therapy) - animal therapy for one year. The designated property fund was created to cover repairs/maintenance on the Rectory Lane property and create a dilapidations fund at the end of the lease. It now also covers the lease liability to the next renewal date in 2027. The designated general fund was created to cover winding down costs of the building, including redundancies, should the charity have to close. 20 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Current assets 7,733 240,894 (16,540} 7,733 321,524 116,5401 80,630 Current liabilities Total net assets 232,087 80,630 312,717 Unrestricted funds General Total funds at 31 March 2023 Restricted funds Tangible fixed assets Current assets 4,359 174,030 (14,309) 4,359 308,220 114,3091 134,190 Current liabilities Total net assets 164,080 134,190 298,270 21 Analysis of net funds At l April 2023 Financing cash flows At 31 March 2024 Cash at bank and in hand 290,259 (5,496) 284,763 Net debt 290,259 15.496) 284,763 29
CREATIVE LIVING CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 At l April 2022 Financing cash flows At 31 March 2023 Cash at bank and in hand 260,262 29,997 290,259 Net debt 260,262 29,997 290,259 22 Indemnity insurance The Charity has purchased insurance on behalf of the Trustees to protect them from any loss arising from neglect or default, the amount charged during the year is £1,795 (2023: £880). 23 Transactions with directors Some trustees are also volunteers and receive reimbursement of expenses in their capacity as volunteers. 24 Related party transactions There were no related party transactions in the year that require disclosure in the financial statements. 30