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2021-03-31-accounts

Charity Registration No. 1067541

COCKERMOUTH CHRISTIAN CENTRE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Chartered Accountants & Tax Advisers SERVICE - SOLUTIONS - VALUE

COCKERMOUTH CHRISTIAN CENTRE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr P Boustead Mr D Hetherington Mr R Smith Mr H B Vyner-Brooks Mrs M Morgan

Charity number

1067541

Independent examiner

Gibbons Carleton House 136 Gray Street Workington Cumbria CA14 2LU

COCKERMOUTH CHRISTIAN CENTRE TRUST

CONTENTS

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Page
Trustees’ report 1
Independent examiner's report 2
Statement of financial activities I
Balance sheet 4
Notes to the financial statements 5-14
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COCKERMOUTH CHRISTIAN CENTRE TRUST

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their annual report and financial statements for the year ended 31 March 2021.

Cockermouth Christian Centre Trust is constituted by the Trust Deed dated 21 December 2000 and is a registered charity. The address of the charity is Main Road, Cockermouth, Cumbria. The Trustees for the year were: -

Mr P Boustead

Mr H B Vyner-Brooks

Mr D Hetherington

Mr R Smith

Mrs M Morgan

Investment Powers

The charity owns no investments and keeps all funds in a Bank Account.

Objects

The Charity was formed in order for the furtherance of the Christian faith and other charitable work.

Activities

During the year the Trust continued the furtherance of the Christian faith, provided support to members of the congregation in need and provided facilities for children's activities.

Financial Statements

The attached financial statements show the current state of the charity's finances

Public Benefit Statement

The activities of the Charity are mindful of the benefit afforded to the public in accordance with the Charity Commission's guidelines."

Risk Management

The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and onal risks faced by the charity and confirm that they have established systems to mitigate the significant

Future Developments

To help those in need financially and spiritually. Continue teaching Christian values to the people in the congregation and the wider community.

Reserves Policy

The trustees of the charity are satisfied with the current level of general reserves.

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Date: 10.0222 - '
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-1-

COCKERMOUTH CHRISTIAN CENTRE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF COCKERMOUTH CHRISTIAN CENTRE TRUST

| report to the trustees on my examination of the financial statements of Cockermouth Christian Centre Trust (the charity) for the year ended 31 March 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

| report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

| understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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

| 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 financial statements to be reached.

Tony Hindmoor BFP FCA

Gibbons

Carleton House

136 Gray Street Workington Cumbria CA14 2LU

Dated: 16 March 2022

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COCKERMOUTH CHRISTIAN CENTRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
Notes £ £ £ £ £ £
Income and endowments from:
Donations and legacies 3 16,330 246,196 262,526 11,969 84,144 96,113
Otherincome 4 1,889 5,862 7,751 2,160 3,541 5,701
Total income 18,219 252,058 270,277 14,129 87,685 101,814
Expenditure on:
Charitable activities 5 14,113 107,728 121,841 12,486 80,462 92,948
Net income forthe year/
Net movement in funds 4,106 144,330 148,436 1,643 7,223 8,866
Fund balances at 1 April 2020 28,801 123,053 151,854 27,158 115,830 142,988
Fund balances at 31 March
2021 32,907 267,383 300,290 28,801 123,053 151,854

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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COCKERMOUTH CHRISTIAN CENTRE TRUST

BALANCE SHEET

AS AT 31 MARCH 2021

2021 2020
Notes £ £ £ £
Fixed assets
Tangible assets 8 10,234 13,191
Current assets
Debtors 9 16,679 14,767
Cash at bank and in hand 281,534 131,826
298,213 146,593
Creditors: amounts falling due within
oneyear 10 (8,157) (7,930)
Net current assets 290,056 138,663
Total assets less current liabilities 300,290 151,854
Income funds
Restricted funds 11 267 383 123,053
Unrestricted funds 32,907 28,801
300,290 151,854

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The financi ts were approved by the Trustees on AO 0%22.
Mr P Boustead a
Trustee ,
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COCKERMOUTH CHRISTIAN CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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COCKERMOUTH CHRISTIAN CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment 20% straighline basis Motor vehicles 20% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

-6-

COCKERMOUTH CHRISTIAN CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

-7-

COCKERMOUTH CHRISTIAN CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

3 Donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £: £ £
Donations and gifts 7,695 243,642 251,337 11,969 84,144 96,113
Grants receivable 8,635 2,554 11,189 - - -
16,330 246,196 262,526 11,969 84,144 96,113
Donations and gifts
Foodbank donations - 220,193 220,193 - 69,981 69,981
Gift aid and deeds of
convenant 7,695 23,449 31,144 11,969 14,163 26,132
7,695 243,642 251,337 11,969 84,144 96,113
Other income
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Incometaxrecoverable 1,889 5,862 7,751 2,160 3,541 5,701

4 Other income

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COCKERMOUTH CHRISTIAN CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

7 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
4 3
Employment costs 2021 2020
£ £
Wages and salaries 39,196 35,897
Other pension costs 497 197
39,693 36,094

There were no employees whose annual remuneration was more than £60,000.

8

Tangiblefixed assets
Equipment Motor Total
vehicles
£ £ £
Cost
At 1 April 2020 18,088 10,680 28,768
At 31 March 2021 18,088 10,680 28,768
Depreciation and impairment
At 1 April 2020 14,687 890 15,577
Depreciation charged in the year 1,017 1,940 2,957
At 31 March 2021 15,704 2,830 18,534
Carrying amount
At 31 March 2021 2,384 7,850 10,234
At31March2020 3,401 9,790 13,191

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COCKERMOUTH CHRISTIAN CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

9 Debtors
2021 2020
Amounts falling due within one year: £ £
Other debtors 13,801 11,390
Prepayments and accrued income 2,878 3,377
16,679 14,767
10 Creditors: amounts falling due within one year
2021 2020
£ £
Othertaxation and social security 1,370 1,599
Trade creditors 2,672 2,528
Other creditors 155 155
Accruals and deferred income 3,960 3,648
8,157 7,930

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COCKERMOUTH CHRISTIAN CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

12 Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Fund balances at 31
March 2021 are
represented by:
Tangible assets 744 9,490 10,234 1,032 12,159 13,191
Current assets/
(liabilities) 32,163 257,893 290,056 27,769 110,894 138,663
32,907 267,383 300,290 28,801 123,053 151,854

13 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

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