Newbury Community Resource Centre Limited (a company limited by guarantee) Registered Company number 03998851 Charity number 1082243 Annual Report and Accounts 2023 - 2024
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED CONTENTS CONTENTS Charity information Trustees, report Independent auditorfs report Financial reports
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED REFERENCE AND ADMINISTRATIVE DETAILS Reference and Administrative Details Company registered number 03998851 Trustee Board Charity registered number 1082243 The Trustees serving during the year and since the year-end were as follows: Registered Office Chair- John Unsworth NCRC, Unit F, Hambridge Road Industrial Estate, Bone Lane, Newbury, Berkshire, RG14 SSS Vice- Chair- Gillian Durrant Treasurer- Alex Money Trustees Independent Auditor Pat Phipps Peter Hulme (resigned 25.4.2024) Sally-Ann Jay Lesley Reilly Brinsley Snowdon (appointed 30.01.2025) UHY Ross Brooke, Windrush Court, Abingdon Business Park, Abingdon, OX14 ISY Bankers Lloyds Bank plc, 5 Bridge Street, Newbury, Berkshire, RG14 5BQ Senior Management Team Kelvin Hughes, Chief Executive and Company Secretary Solicitors Jo Exelby, Finance and Administration Manager Gardner Leader Solicitors, White Hart House, Market Place. Newbury, Berkshire, RG14 5BA Christine Newman, Project Manager- Community Furniture Project (Newbury) Phelim O'Hagan. Project Manager- Community Furniture Project {Basingstoke) Joe McKay, Project Manager- Training & Community Support Sharon Chapman, Project Manager- Growing 2gether Patrons Simon Hunt John Austin (deceased 12.2.2024)
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT Statement from our Chair Welcome to our 2023- 2024 Annual Report As we move towards our 25th year of operation, it is sad to reflect that the issues we set out to address are as relevant now as they were in 2000. But whilst this may be the case, when reviewing the impact and achievements of the charity over the last year, it is heartening to note that there remains in the community, be it amongst staff and volunteers or the wider community, the same desire to help those less fortunate than themselves. Providing a rapid, practical and empathetic response to people who are in such urgent need or crisis is at the heart of what we do. Whether it be delivering a bed within the hour to a person returning from a hospital stay or fully equipping a home for a family moving out of emergency accommodation, the charity will always try to help. We could not deliver our services without the hard work and dedication of our staff and volunteers. During the course of the year over 300 adults and young people gave their time and skills to assist in the delivery of our services. Similarly, without the support of our donors, who provide financial support and donations of reusable items, we would be unable to continue our work, We continued to do'more ofthe same, throughout the year- both in providing household goods for those in need, as well as supported training and volunteering activities to some of the most vulnerable members of our community. What is described in the media as the Cost-of-Living Crisis has become a continuing reality for many, and is perhaps better described as on-going poverty. An increased number of individuals and families are finding it hard, if not impossible, to meet their essential needs, despite often being engaged in full-time employment. Many vulnerable and disabled adults in the local community are long-term participants in our supported volunteering and accredited training projects. Each year, they are joined by more newcomers both young and old. Last year, 78 adults with learning disabilities undertook various Supported Volunteering activities. These person-centred services are provided using a community-based approach to enable vulnerable people
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT to take an active and meaningful role in delivering essential services that support the wider community. Our work in promoting environmental education, through the provision of The Forest School, supported volunteering and community horticulture activities, continued to evolve. Members of the team offered ever more creative ways of passing on these vital life lessons to young people and families during the year. Our financial performance last year was up on budget. A surplus of £64,329 was recorded against a budgeted surplus of £19,804. Grant income was up on budget by £60,489, with sales income up by £112,160, putting total income at £2,217,568. Total expenditure was £2,153.239. Due to the wide range of activities undertaken during the year, the following report can only provide a snapshot of the outputs and outcomes achieved. We trust that you will find it informative and inspiring. John Unsworth Chair of Trustees
STRATEGY AND PERFORMA Providing Help and Hope to Those in Most Need Our People The NCRC is fortunate to have a team of experienced and highly committed staff and volunteers. Their wide range of skills and empathetic approach ensures that all services are delivered in an efficient, effective and respectful way. With an almost seamless transition from the challenges of Covid to those of the Cost-of- Living Crisis, many people we support have had little or no resplte in the challenges of keeping afloat, not only financially but also in terms of their mental health. Those who were already at a disadvantage prior to these additional challenges often feel even more of a sense of hopelessness and despair. The NCRC has always aimed to help those who are most in need in our local community, including residents who are struggling financially, adults and young people with learning disabilities, physical disabilities, mental health issues, the unemployed and young people who are excluded from mainstream education and/or are youth offenders. We run a number of community projects. including two furniture recycling centres, a training and community support centre, where we repair donated items, and a community food growing and environmental education project. Those who join us are able to learn new skills, gain accredited training, make new friends and become part of a caring community.
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT Services Provided in 2023 - 2024 thecommunity furnitureproject Community Furniture Project {CFP) (Basingstoke) The Project, like the Newbury Project, provides practical support for people through furniture, household goods and appliance reuse, together with varied volunteering, supported volunteering and accredited training opportunities. Community Furniture Projert {CFP) (Newbury) The Project's extremely popular used furniture and household goods reuse service, together with its lively volunteering opportunities, continued to operate successfully, despite the additional challenges. Our Project enables people to donate items, knowing that they will be put to good use in helping others to improve their living conditions and benefiting the most vulnerable members of our local community.
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT MT&CS A•GROWING V2GETHER Training & Community Support Training and Community Support (T&CS) Growing 2gether (G2G) Based on a 1.5 ha site at Cottismore Park near Kingsclere, Growing 2gether functions primarily as a horticultural therapy and environmental education centre for adults and young people with learning disabilities, physical disabilities and mental health issues. It also functions as a food growing hub for all members of the local community and provides a range of environmental education activities for children. T&CS focuses on the delivery of services for adults with complex learning disabilities, people with mental health issues and young people not engaged in mainstream education. Services include opportunities for individuals to learn practical, transferable skills and build relationships in a flexible, supportive environment. We seek to inspire them to "think big" in terms of what they can achieve. 1111111,
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT Our Work The NCRC works across three main areas: Poverty alleviation Training, skills development and community support Promoting education and environmentally beneficial activities The Year in Numbers Supplied free of charge to 477 families and individual household goods to the value of £143,334 1,324 bed/nights provided for people who were street homeless Reused 78,934 household items Reused 840 bicycles Constructed 505 new items of furniture 145,610 customer visits 18,483 donations of furniture and household goods received 4,187 household collections of donated goods completed. 3,272 deliveries of furniture to people's homes 78 adults and young people with learning disabilities were engaged in accredited learning Tested and repaired 3,560 electrical items Reused & recycled 721 tonnes of furniture, appliances and other bulky waste Through selling furniture and electrical items at low cost we saved people at least £4,182,681 Saved 1,502 tonnes of C02 equivalent through diversion of household items from landfill Volunteers contributed 89,431 hours of their time Over 8,200 sessions attended at our Projects by young people and adults with learning disabilities or mental health issues.
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT POVERTY ALLEVIATION Despite operating the charity in one of the wealthiest areas of one of the wealthiest countries in the world, on an almost daily basis we come across families without access to the most basic items needed to set up and maintain a safe and healthy home. Whether it be a child without a bed to sleep in, or a whole family without access to a cooker or other means to prepare hot food, sadly the need for support is not diminishing. home and all items are needed at the same time, it is even more unaffordable. Through the Essential Household Goods Support Scheme (EHGS}, the charity continued to provide support to these most vulnerable members of our local community during the year. EHGS cases supported rose by 16Yo to 477 (since 2021-22 total increase has been 640/0). EHGS has been, and continues to be, invaluable in helping people in desperate need, including the homeless, victims of domestic violence and people struggling with poor mental health. 'Furniture poverty, defined by the Campaign to End Furniture Poverty as 'an inability to access, or afford to buy or maintain, basic household furniture and appliances needed to achieve a safe and healthy living environment,. The majority of people helped through our EHGS scheme continue to be either facing financial hardship, homeless and moving into temporary accommodation, victims of domestic violence or people returning from a period of detention under the Mental Health Act. Basic furniture and white goods are the most expensive, and therefore unaffordable, items for many families suffering from financial insecurity. Delivering cost effective and timely support to families in this position is one of the absolute priorities of our work. Demand for bicycles for travelling to and from work and school also grew as a result of increased costs of transport. When families and individuals are already in financial distress, additional costs can lead them to borrow from companies charging very high rates of interest. Where people are setting up io
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT TRAINING, SKILLS DEVELOPMENT AND COMMUNITY SUPPORT both during the day and for evening events. The Projects continued to provide a range of opportunities for the most vulnerable members of our community to engage in supported volunteering. T&CS and CFP (Basingstoke) operate woodwork, furniture, electrical and bicycle workshops that produce finished goods for the shops. In addition, they also deliver a range of accredited training courses. Delivered in a supportive environment, these courses give opportunities to people who might not otherwise readily access training. The Projects are widely acknowledged as an example of the positive impact people with very complex disabilities can have in their community when they are well supported by trained and experienced staff and volunteers. A range of targeted schemes are run by the Projects including: Rebike- repairs and reuses donated bicycles. The scheme is entirely volunteer-run and supports volunteers with disabilities and young people excluded from school. The project supplies schools with bikes to enable pupils from more remote areas to cycle to school, as well as undertaking rider training. Participants are predominantly adults and young people (aged 14-19) with learning disabilities, adults with physical disabilities and/or mental health issues. We work in partnership with a wide range of organisations to provide opportunities for these groups to participate in meaningful work experience, training and volunteering activities. Bicycles are also supplied free of charge to enable people who have secured employment but have no access to personal transport to get to work, as well as to refugees to enable them to access volunteering activities. Kitchenwise - is a training kitchen providing opportunities for volunteers and trainees to develop independent living skills by producing a range of nutritious meals throughout the week. Support is provided based on an on- going assessment of an individual's requirements. with a focus on maximizing independence. This may require I:1 support on occasion (which we provide). The Projects also operate transport that enables people to access our services from even the most remote rural areas of the District, li
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT Community Crew- supports people with learning and physical disabilities by engaging in countryside and environmental maintenance activities, such as footpath clearance. The group is responsible for keeping 96 footpaths across West Berkshire clear of litter and obstruction from encroaching hedges and trees. The project focused on supporting homeless people in West Berkshire who are categorised as 'non-priority'. As such, the local authority does not have a duty to accommodate them. During the winter period, the risk to the health and well-being of people rough sleeping is considerably higher and so the local charities and West Berkshire Council designed the project to alleviate this risk for at least the winter period. Winter Homeless Project - local homeless support charities came together in the autumn of 2023 to provide people who would otherwise have been street homeless in West Berkshire with access to a safe place to sleep during the winter months. Emergency accommodation in local hotels and bed and breakfasts provided a break for rough sleepers to get some essential respite from the harsh reality of their daily lives on the streets, as well as providing time for people who were newly homeless to put together a moving-on plan. A total of 37 people were supported by the project, with a total of 1.324 beds/nights provided. The project partners worked together and with other relevant organisations, including other charities, WBC departments, DWP and the NHS, to provide tailored support for each individual to help them to move on as soon as possible from the temporary accommodation provision to a longer- term solution to meet their needs. Refugee Support- We continued to provide support to a wide-ranging group of refugees being hosted or resettled in West Berkshire under various Government schemes. This included Ukrainian refugees being settled under the Homes for Ukraine Scheme. Afghan refugees being settled in West Berkshire under the two Government schemes (ARAP and ACRS) were also supported. Support included furniture and household goods as well as bicycles, sports equipment and laptop computers. In addition, we continued to support The NCRC took on the project management and coordination and acted as the accountable body for the partnership with West Berkshire Homeless, Newbury Soup Kitchen, Loose Ends Newbury and West Berkshire Council's Rough Sleeper Team. Funding was provided by the Greenham Trust, Sheepdrove Trust and the Government's Household Support Fund. 12
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT those hosted temporarily in hotels whilst awaiting settlement. Christmas Toy Appeal - was run in Newbury and Basingstoke and provided over 1,600 children with a range of presents which otherwise their parents and guardians would have been unable to afford. Asylum Seeker Support- We expanded our partnership work with West Berkshire Action for Refugees. This has included providing them with free office and training facilities at our Newbury site. Material support provided for asylum seekers included the provision of household goods, bicycles and laptops as well as volunteering activities at T&CS. CFP FC- is our football team, which competes in the Berks, Bucks and Oxon Social Inclusion Football League as well as playing friendly matches against other local and regional teams. For the second year in succession the team won the Conference League. 00.. 13
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT ENVIRONMENTAL EDUCATION training and develop a range of skills, including landscaping, site maintenance, arboriculture and basic mechanical plant maintenance. All our Projects generate positive environmental outcomes. By engaging in the circular economy, we generate both social (see above) and environmental benefits. Our Growing 2gether Project delivers both social and environmental education services. The project functions as a horticultural therapy centre, providing outdoor volunteering and training opportunities for adults and young people with learning disabilities, physical disabilities and mental health issues. It also delivers a range of environmental education services aimed primarily at children, including: Forest School Artivities - based at a six-acre wood on the River Lambourn in Newbury provides children with an education in the importance of biodiversity and wildlife for the future, using outdoor play and learning. This involves the children in habitat building, river dipping and the identification of wildlife as well as learning about environmental stewardship. Nature Knowledge - delivers sessions for local primary schools and children's groups, focusing on teaching children about nature and wildlife through outdoor play. Forest First - is a free toddler group run by the Project to enable children and parents to engage in learning about the natural world through play, craft and storytelling activities. Grounds Maintenance- G2G undertakes grounds maintenance at the New Greenham Business Park (a 114-acre site) and a number of other smaller sites around Newbury. This is undertaken in order to deliver opportunities for volunteers and trainees to undertake accredited 14
GOVERN NCRC'S objects are to: Public Benefit The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The support of persons who are in need by reason of their youth, infirmity, or disablement, poverty or social and economic circumstances in particular but not exclusively by providing re-usedfurniture and household goods to support independent living. The company is a registered charity who- a) provide re-used furniture and household goods to relieve those in need by reason of poverty, social or economic circumstances, youth, disability or infirmity; The support of people with special needs or at social disadvantage in particular by the provision of training and work opportunities. b) provide training, work and volunteering opportunities, particularly to those with special needs, or at a social disadvantage, and To advance the education of members of the general public, particularly in environmental matters. c) promote conservation and protection of the natural environment, through our sustainable waste management practices, our environmental projects and through educating the general public. To promote the conservation, protection ond improvement of the physical and natural environmentfor the public benefit by promotion of sustainable waste management practices including waste minimization, reduction of pollution and harm from waste, reuse of waste, recycling of waste, and waste recovery activities. Governing Document The organisation is a charitable company limited by guarantee, incorporated on 22 May 2000 and registered as a charity on 31 August 2000. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the 15
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT company being wound up, members are required to contribute an amount not exceeding £10. Board Composition The more traditional business and professional skills are well represented on the board of trustees. In an effort to maintain this broad skill mix, members of the board are requested to provide a list of their skills (and update it each year) and in the event of particular skills being lost due to retirements, individuals are sought who possess the required skills. Methods of recruitment include approaches to individuals to offer themselves for election to the board, posting of vacancies through the local Volunteer Centre {and recruiting from the existing volunteers supporting the organisation). Good Governance Trustees recognise the importance of good governance as fundamental to the success of the NCRC and have adopted the Charity Governance Code. The Board of Trustees The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association, the members of the board are elected to serve for a period of three years, after which they must seek re-election at the next Annual General Meeting. Risks The trustees are responsible for the management of the risks faced by the organisation. Detailed considerations of risk are delegated to the Chief Executive. Risks are identified, assessed and controls are established throughout the year. A formal review of the charity's risk management processes is undertaken on an annual basis. All members of the Board of Trustees give their time voluntarily and received no benefits from the charity. Through the risk management processes established, the trustees are satisfied that any major risks identif led have been adequately mitigated where necessary. It is recognised that Systems can only provide reasonable, but not absolute, assurance that major risks have been adequately managed. 16
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT Safeguarding The NCRC is subject to annual inspection by West Berkshire Council's Care Quality Team with a focus on safeguarding and the quality of care delivered by the NCRC to children, young people and vulnerable adults, NCRC believes that it is always unacceptable for a child, young person or vulnerable adult to experience abuse of any kind and recognises its responsibility to safeguard the welfare of all children, young people and vulnerable adults, by a commitment to practice which protects them. The trained and supported safeguarding lead for NCRC is Joe McKay, Project Manager, Training and Community Support Centre, NCRC. The NCRC provides staff and volunteers with on-going training and guidance on procedures they should adopt in the event that they suspect a child, young person or vulnerable adult may be experiencing, or be at risk of, harm. Partnerships We maintain good working partnerships with a large number of statutory and private organisations, including Greenham Trust, West Berkshire Council, Basingstoke and Deane Borough Council, Hampshire County Council, Hart District Council, Reuse Network, Veolia Environmental Services, SNG Housing Group, Vivid Housing and Newbury Town Council. These relationships enable us to extend the range of services we offer to everyone's benefit. The NCRC also has policies and procedures to deter those unsuitable to work with children and vulnerable adults, including an application process that takes up references and carries out DBS checks on staff and volunteers where applicable. NCRC believes that the welfare of children, young people and vulnerable adults takes priority over the individual's right to confidentiality, and we have a duty to disclose abuse to the appropriate agency if deemed necessary, without consent. In these circumstances, the Confidentiality Policy as set out in the NCRC Code of Conduct together with NCRC data protection procedures, may be overridden. 17
FINA AL REVIEW Finance The organisation also has obligations under a Final Salary scheme, from which it withdrew in 2010. As at the 30th November 2024, this stood at £45,592, which was the net present value of the deficit reduction contributions payable under the agreement relating to the deficit. This was a decrease in the year of £20,691. Incoming resources during the year increased by £441,287 (24.84 %), with total resources expended increasing by £347,838 {19.26¥.), resulting in a surplus of £64,329 (2023: deficit of £29,120). Of total resources expended, 97.87°A were direct costs of charitable activities, in line with the objectives of the organisation. Reserves The charity raised 77.5% of its income (£1,718,662) through primary purpose trading during the year, with a £147,140 (9.36%) increase in income on the previous year. Total income from donations and legacies received during the year increased by £294,138 (143.620/0) to £498,934. Cash and cash equivalents reduced by increased by £100,945 to £390,271. The Trustees believe that the charity should hold financial reserves because: l) It has no endowment funding and is entirely dependent for income upon donor funding and sales income from year to year which is inevitably subject to fluctuation and; 2) It requires protection against and the ability to continue operating despite catastrophic or lesser but damaging events. In line with current legislation, the organisation contributes towards a Defined Contribution Pension Provision for all eligible staff. The organisation contributes 4Yo, With the employee contributing 3%. Should an employee wish to increase their contribution rate beyond this, the organisation will match fund up to a maximum of 6¥0. The trustees believe that the minimum level of reserves should be equivalent to three months operating costs, costs of closure and costs of clearing leasehold obligations calculated and reviewed annually, and believe that the reserves should be built up to the desired level in stages consistent with the charity'5 overall financial position, and its need to develop and maintain its charitable activities. 18
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT The free reserves, i.e. those not tied up in fixed assets and designated funds, held at 30th November 2024, amounted to £240,101, whereas three months, expenditure {excluding depreciation) is £546,024. Scheme, we aim to continue meeting the need as best we can. Through a combination of support from the Greenham Trust, West Berkshire Council (Household Support Fund) and self-generated income we believe that we will be able to meet the challenge. Fundraising The NCRC limits fundraising activity to applications to funders who publicly promote themselves as providers of grant support to charities. In order to ensure that such applications are not overly speculative, the organisation subscribes to a number of directories which provide updated information on active funders and the criteria they apply in availing support to applicants. The NCRC does not carry out direct marketing to individuals but does accept donations freely offered by the public. The work to secure new premises for the Community Furniture Project {Basingstoke) will continue to be the main development aim of the charity. Major advances were made during the year with both the Greenham Trust and Basingstoke and Deane Council agreeing to support the endeavour. In addition to the new premises, significant additional funding above and beyond that which can be realised from regular trading activities, will be required and the fundraising campaign launched last year will continue. The charity is registered with the Fundraising Regulator and abides by the Code of Fundraising Practice. In addition, the following development activities will be undertaken in order to ensure that the charitvs human and material assets generate the best outcomes for our beneficiaries: Outlook The charity plans to continue the activities outlined above in the forthcoming years, subject to satisfactory funding arrangements. Continuation of the upgrade to the charity's IT systems to reduce duplication and enhance data sharing. Formalising the partnership with the West Berkshire Poverty Forum in order As reported above what began as the Cost-of-Living Crisis has for many become a situation of persistent poverty. Through the charit¢s Essential Household Goods Support 19
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT to ensure the continuation of the essential household items to the most vulnerable members of the community. United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: Seeking to increase the supply and fitting of flooring for families with young children In partnership with the Reuse Network promoting the positive benefits of reuse and its contribution to the Circular Economy We are confident that despite the financial pressures, we will continue to offer the highest levels of service, performance and cost effectiveness in the coming year. select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102); make judgements and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. Donors and Supporters We could not operate without the generosity of the Greenham Trust, the thousands of people who give us items for re-use and the many grant-making trusts, companies, organisations and individuals who, with their generous donations, enable us to provide a range of services that benefit those in need in our local community. Statement of Trustees, responsibilities The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and 20
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED TRUSTEES, REPORT The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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. Disclosure of information to auditor Approved by the Board of Trustees on 24th April 2025 and signed on their behalf by: John Unsworth Chair of Trustees Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit information of which the charity's auditor is unaware, and the Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditor is aware of that information. 21
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT Independent Audltorfs Report to the Members of The Newbury Communlty Resource Centre Llmfted Opinion We have audited the financial statements of The Newbury Community Resource Centre Limited (the 'charitable company,) forthe year ended 30 November 2024 which comprise the Statement of Financial Activities, Balance Sheets and Statements of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reportin8 Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of charitable company's affairs as at 30 November 2024 and of its incoming resources and application of resources, includlng its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kin8dom Generally Accepted Accountin8 Pr3Ctice,' and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing IUK) IISAS IUKI) and applicable law. Our responsibilities under those standard5 are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in actordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRUS Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitie5 of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the trustees, annual report. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement ofthis other information, we are required to report that fact. We have nothing to report in this regard. 22
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT Opinlons on other matters prescribed by the Companles Art 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the Trustees, Annual Report. which includes the Directors, Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements: and the Dirertors, Report included within the Trustees, Annual Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and it5 environment obtained in the course of the audit, we have not identified material mi55tatements in the Trustees, Report included within the Trustees, Annual Report. We have nothing to report in respett of the following matters where the Companies Act 2006 require5 U5 to report to you if, in our opinion,. dequate accounting records have not been kept, or return5 adequate for our audit have not been received from branche5 not Visited by us: or the parent charitable company financial statements are not in agreement with the accounting record5 and returns; or certain disclosures of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit,. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption in preparing the Trustees, Annual Report and take advantage of the small companies exemption from the requirement to prepare Strategic Report. Responsibilitles of trustees As explained more fully in the Trustees, Responsibilities Statement set out on page 17, the trustees (who are also the directors of the charitable company purposes of company lawl are responsible for the preparation of a trustees, annual report and financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operation5, or have no realistic alternative but to do $0. Auditor's responsibilities for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statement5 as a whole are free from material misstatement. whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK} will always detect a material mi55tatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: 23
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED INDEPENDENT AUDITOWS REPORT We have considered: the nature of the charity and sector, control environment and operating performance; the charity's own assessment, including assessments made by key management, of the risk5 that irregularities may occur either as a result of fraud or error,. any matters we identified having reviewed the charity's policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks offraud and whether they have knowledge of any actual, suspected or alleged fraud: and the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations,. the matters discussed amongst the audit engagement team. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas in which management is required to exercise significant judgement, such as the disclosure of adjusting items. In common with Bll audits under ISAS {UKI, we are Iso required to perform specific procedure5 to respond to the risk of management override. We also obtained an understanding of the legal and regulatory framework that the charity operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, The key laws and regulations we considered in this context were the Companies Act. Charities Act and tax legislation. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularitie5, including those leading to a material misstatement in the financial statements or non-compliance with regulation, This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reportin8 Council's website at: http:l/www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 24
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED INOEPENDENT AUDITOR'S REPORT Use of our report This report is made solely to the charitable company's member5, a5 a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body• for our audit work, for this report, or for the opinions we have formed. roline Webster Isenior Statutory Auditor for and on behalf of UHY Ross Brooke. Statutory Auditor Suite I Windrush Court Abin8don Business Park Abin8don Oxfordshire OX14 ISY Date 141is 25
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2024 Unrestricted funds 2024 Restricted funds Total funds 2024 Total funds 2023 2024 Note Income from: Donations and legacies Charitable activitie5 282,098 1,718,622 12 216,836 498.934 1,718.622 12 204,796 1,571,482 Investments Total income 2,000.732 216,836 2,217.568 1,776.281 Expenditure on: Raising funds Charitable activities 45.217 1,916.593 527 190,902 45.744 2,107,495 37,511 1,767,890 Total expendlture 1,961.810 191,429 2,153,239 1,805,401 Net lexpenditurelllncome 38,922 25.407 64.329 129,1201 Transfers between funds 15 15,451 (15,4511 Net movement In funds 54,373 9,956 64,329 {29,1201 Reconciliation of funds: Total funds brought forward Net movement in funds 276.645 54.373 187,412 9,956 464,057 64,329 493,177 129,1201 Total funds carried forward 331,018 197,368 528,386 464,057 The Statement of Financial Activities includes all gains and losses recognised in the year. All activities derived from continuing operations during the above two financial periods. The notes on pages 29 to 48 form part ofthese financial statements. 26
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Llmited by Guarantee} NUMBER: 03998851 BALANCE SHEET AS AT 30 NOVEMBER 2024 2024 2023 Note Flxed assets Tangible assets li 265,908 282.109 265,908 282,109 Current a55ets Debtors Cash at bank and in hand 12 160,002 390,271 213,189 289,326 550,Z73 502,515 Liabilitles Creditors.. amounts falling due within one year 13 1256,297) {269,3681 Net current assets 293,976 233,147 Total assets less current liabillties Creditors.. Amounts falling due after more than one year 559,884 515.256 14 131,498) 151.1991 Total net assets 528.386 464,057 Funds Unrestricted funds Restrlcted funds 15 331.018 197.368 276,645 187,412 15 Total funds 528,386 464,057 The financial statements were approved by the Trustees, and authorised for issue on 24 April 2025 and are signed their behalf, by: John Unsworth Chair of Trustees The notes on pages 29 to 48 form part ofthese financial statements. 27
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED IA Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2024 Note 2024 2023 Cash flows from operatlng activities Net Cash provided by operating activities 17 112,248 117,8671 Cash flows from Investing actlvltles 19 (11,303) 117,6761 Cash flows from financing actlvities 18 Change In cash and cash equivalents in the year 100,945 135,5431 Cash and cash equivalents at the beginning of the year 289.326 324,869 Cash and cash equivalents at the end of the year 390.271 289,326 The notes on pages 29 to 48 form part of these financial statement5. 28
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Accountlng policies The Newbury Community Resource Centre Limited is 3 Charitable Company limited by guarantee incorporated in England and Wales. In the event of the charitable company being wound up, the liability of the guarantee is £10 per member of the charitable company. The address of its principal place of business is given on page l and the nature of its operation5 are set out in the trustees, report. 1.1 Bas15 of preparation of flnancial statements The Charitable Company constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the 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 IFRS 10211 (issued in October 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention. modified to include certain items at fair value. The financial statements are presented in sterlin8 which is the functional currency of the charity and rounded to the nearest £. A summary of the principal accounting policies adopted (which have been applied consistently, except where noted). judgements and key sources of estimation uncertainty. is set out below. 1.2 Golng concern The financial statements have been prepared on a going concern basis as the tru5tee5 believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authori5ing these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charitable Company to be able to continue as a going concern. 29
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 1.3 Income All incoming resources are included in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income after any performance conditions have been met. the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are condition5 attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it Can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the tharity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees, Annual Report. Furniture and other items donated for resale are not included in the financial statements until they are sold. 35 It Is not considered practicable to determine and record the fair value of such items. Therefore. such items are not included as Stock Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity- Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement ha5 occurred. Income from government and othergrants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred, 30
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 1.4 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or con5trurtive obligation to make payments to third parties, it 15 probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes costs of all fundraising artivities events and non-charitable trading. Expenditure on charitable activities is incurred on dirertly undertaking the attivities which further the charitable company's objectives. as well 35 any associated support costs. Irrecoverable VAT is charged as an expense against the attivity for which expenditure arose. 1.5 Tangible flxed assets and depreciation Assets costing £500 or more are capitalised as tangible fixed assets and are carried at C05t, net of depreciation and any provision for impalrment. Depreciation is provided on all tangible fixed a55ets. at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, a5 follows: Motor Vehicles Warehouse equipment Orchard Straight line over 10 years Straight line over S years Straight line over 40 years Straight line over 3 years Straight line over 20 years Straight line over 20 years Office equipment Improvements to property Horticultural equipment 1.6 Debtors Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. 1.7 Liabilities Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required In settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charitable Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods of services it must provide. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. 31
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 1.8 Leased assets Rentals under operating leases are charged on a straight-line basis over the lease term. 1.9 Taxation The Charitable Company is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charitable Company for UK corporation tax purposes. Atcordingly, the Charitable Company 15 Potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 1.10 Pensions benefits The charitable company operates a defined benefit pension scheme. The scheme is a multi-employer scheme where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to individual participating employers. Therefore, as required by FRS102'Retirement and post-employment benefits,, the charitable company accounts for this scheme as if it was a defined contribution scheme. The charitable company 15 under obligation to make payments to fund the deficit on the scheme, and as such the net present value of these contributions are recognised as a liability. Any change in the liability is recogni5ed as an expense in the Statement of Financial Activities. The charitable company also operates a defined contribution pension scheme. Contributions payable for the year are charged in the Statement of Financial Activities. 1.11 Fund accountlng Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charitable 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 or which have been raised by the charity for particular purposes. The cost of raising and administering such fund5 are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements 32
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Z. Judgements and key sources of estlmation uncertainty Accounting estimates and Judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critlcal accountlng estlmates and assumptions The charitable company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions 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 amounts of assets and liabilities within the next financial year are discussed below. Critical areas of Judgement Tangible fixed asset5 Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are asse55ed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values. Pensions The present value of the Social Housing Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost lincomel for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 23, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest f ull actuarial valuation performed at 30 September 2023 has been used by the actuary in valuing the pensions liability at 30 November 2024. Any differences between the fi8ures derived from the roll forwards approach and a full actuarial valuation would impact on the carrying amount of the pension liability. 33
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Income from donatlons and legaeies Unrestricted funds Restricted funds Total funds Total funds 2024 2024 2024 2023 Donations 7,212 3,650 10,862 22,430 311,848 153,794 4,600 3,164 159,374 37,658 Capital grant5 Grant making funds Statutory grants 22,430 70,376 120,380 241,472 33,414 282,098 216,836 498,934 204.796 Income from charitable artivities Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Shop sales and training placements 1.718,622 1,718,622 1,571,482 34
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 30 NOVEMBER 2024 Expenditure on ralsingfunds Unrestrlcted funds 2024 Restrirted funds 2024 Total fund5 2024 Total funds 2023 Staff Fundraising Publicity 32,775 686 11,756 32,775 686 12,283 16.431 290 20.790 527 45,217 527 45,744 37,511 Expenditure on charitable activities Directly undertaken 2024 Support 2024 Total 2024 Cost of charitable activities 1,877,035 230.460 2.107A95 Comparatives for the previous year Dlrertly undertaken 2023 Support 2023 Total 2023 Cost of charitable activities 1,553,390 214,500 1,767,890 35
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Support costs Total 2024 Total 2023 Note Support staff costs Depreciation and amortisation Bad debt expense Office expenses Telephone expenses Training and travel expenses Bank charges Premises expenses Payroll Fees Legal and professional fees Pension deficit cost Loss on dispos31 of fixed asset Irrecoverable VAT Governance costs 76,103 28,683 725 63,946 90,641 27,902 700 17,244 7,213 4,988 10,805 15,677 5,040 7,879 2,267 959 15,885 7,300 11,920 12,477 5,295 7,527 15,674) 1,167 19,741 8,550 230,460 214,500 Governance costs 2024 2023 Fees payable to the charitable company's auditor for the audit of the annual accounts Fees payable to the charitable company's auditor in respect of: All non-audit services not included above 6.450 5,500 2,100 1,800 8,550 7,300 36
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Staff costs 2024 2023 Wages and salaries Social security costs Pension costs 1,148,777 91,522 44,358 1,041,392 79,970 48,965 1,284.657 3.560 1,170,327 3,585 Other staff related costs 1,288.217 1,173,912 Stsff numbers The average numbers of persons (including Senior management team) employed by the Charitable Company during the period was as follows.. 2024 No. 2023 No. Administration and support Marketing and fundraising Operational staff 47 45 50 47 Higher pald staff The number of employees whose employee benefits lexcluding employer pension costs) exceeded £60,000. was: 2024 No. 2023 No. £60,001- £70,000 Key management personnel The total amount of employee benefits received by key management personnel is £331,31512023: £341,618). io. Trustee remuneration and expenses The trustees neither received nor waived any remuneration during the year (2023: £Nil). No trustee received expenses in the year 12023.. nil). 37
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 11. Tangible fixed assets Property improvements Motor vehlcles Horticultural equlpment Equlpment Total Cost or valuation At l December 2023 236,283 3,733 85.821 755 140,242 9,994 13,500) 118,815 581.161 14.482 (3,500) Addition5 Disposals At 30 November 2024 240,016 86,576 146,736 118,815 592,143 Depreciatlon At l December 2023 98,429 10,457 65.171 2,705 57.387 12,672 11,500) 78,065 2,849 299,052 28.683 11.500} Charge for the year On disposals At 30 November 2024 108,886 67.876 68,559 80,914 326.235 Net book value At 30 November 2024 131,130 18,700 78,177 37,901 265,908 At 01 December 2023 137,854 20,650 82,855 40,750 282,109 12. Debtors 2024 2023 Trade debtors Prepayments and accrued income other debtors VAT receivable 86,088 62,363 156,284 53,781 488 11,551 2,636 160,002 213,189 38
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 13. Creditors: amounts falling due wlthln one year 2024 2023 Note Trade creditors Accruals and deferred income Other creditors Pension liability Other taxation and social security 19,308 194,126 9.613 14,094 19.156 76,951 147.597 9.176 15.084 20.560 22 256,297 269,368 Deferred income 2024 2023 Deferred income at start of year Resources deferred during the year Amounts released from previous periods 132,326 178,408 (132,3261 64.378 132,326 164,3781 Deferred income at end of year 178,408 132,326 Deferred income relates to.. al Grant income received in adv3nce of meeting income recognition criteria,, and bl Essential Household Goods Scheme unspent funds. 14. Creditors: amounts falllng due after more than one year Note 2024 2023 Pension liability 31,498 51,199 39
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 15. Funds Balance at I Dec 2023 Gains. losses Balance at 30 & transfers Nov 2024 Income Expenditure Unrestricted funds General funds 276,645 2.000,732 (1.961,810) 15,451 331,018 Restrirted general funds Income funds Fixed Asset fund5 30,968 156,444 216.836 (191,429) (2,5001 (12,9511 115,451) 53.875 143,493 187,412 216,836 (191,429) 197,368 Total funds 464,057 2.217,568 (2.153,239) 528,386 Included within unrestricted income is core c05t5 funding from Greenham Trust amounting to £241,472. This funding is accounted for in the period to which it relates, with any amounts received in advance for future periods being carried as deferred income as set out in note 13. Comparative information in respect of the preceding period is as follows., Balance at I Dec 2022 Gains,10sses Balance at 30 & transfers Nov 2023 Income Expenditure General unrestricted f unds 308,056 1,610,631 {1,652,2551 10,213 276,645 Restricted funds Income funds Fixed Asset funds 18,464 166,657 165,650 {153,1461 30.968 156,444 110,2131 110.213) 185,121 165,650 1153,1461 187,412 Total funds 493,177 1.776,281 11,805,401) 464,057
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Restricted funds Balance at I Dec 2023 Gains, losses Balance at 30 & transfers Nov 2024 Income Expenditure Basingstoke and Deane Borough Council B&Q Neighbourly Foundation 1,480 13,300 111,9891 2.791 6.700 41.053 6.700 11.716 Greenham Trust 3,261 132,5981 Hampshire County Council 1,968 {674) 1,294 Berkshire Community Foundation 7,500 15,1001 Gerald Palmer Eling Trust Company Newbury Town Council Sheepdrove Trust The Alchemy Foundation The Ammco Charitable Trust 2.000 1,000 24,000 12.0001 11.0001 124,0001 1,000 14461 554 500 500 First MTR South West Train5 4,492 18,860 (4,492) {18,860) Calleva Foundation The Lord Faringdon Charitable Trust 1,000 1,000 The Payne-Gallwey Charitable Trust 2.500 2.500 The Peter Baker Foundation 2.500 12,500) The Souter Charitable Trust 2,000 2.000 106,080 2.000 2,000 20.066 The Syder Foundation West Berkshire Council 186,0141 Donations from individuals 907 3,703 14,2561 354 Restricted fixed assets 156,444 112,9511 143,493 Total restricted funds 187,412 216,836 1191,429) (15,451} 197,368 41
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 16. Analysis of net assets between funds Restricted Unrestrlrted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due after more than one year 143,493 53,875 122,415 496,398 (256,297) 131,498) 331,018 265,908 550,273 (256,2971 131,498} 528,386 197.368 Analysis of net assets between funds - prior year Restricted Unrestricted funds fund5 2023 2023 Totsl funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due after more than one year 156,444 30,968 125,665 471,547 1269,3681 151,1991 276,645 282,109 502,515 1269,368} {51,199} 464,057 187,412 42
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 17. Reconciliation of net expenditure to net cash flow from operating activltles 2024 2023 Net income I lexpenditurel for the reporting period las per the statement of financial activities) Adjusted for: Interest receivable Depreciation and impairment of tangible fixed a55et5 (Profit) / loss on disposal of tangible fixed assets (Increase) / decrease in debtors Increase / Idecreasel in creditors Net ¢ash provlded by / {u5ed In) Operating Actlvlties 64,329 (29.1201 (12) 28,683 11,167) 53,187 132,772) 131 27,902 19591 197,3861 81,699 112,248 (17.8671 18. Cash flows from financing activities 2024 2023 Repayments of borrowing 19. Cash flows from investing actlvltles 2024 2023 Proceeds from the sale of tangible fixed assets Purchase of tangible f ixed assets Interest received 3,167 (14,482) 12 2,189 {19,868} Net cash provided by / (used In) Operating Activltles 111.303) {17,6761 43
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 20. Analysis of cash and cash equivalents 2024 2023 Cash in hand and at bank 390,271 289,326 Total cash and cash equivalents 390,271 289,326 21. Analysls of changes in net cashl(debt Atl September 2023 At30 November 2024 Cashflows Cash 289,326 100,945 390.271 Net cash 289,326 100.945 390,271
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 22. Pension and similar obligations The charitable company participates in two defined contribution pension schemes; one with Scottish Widows and one with the Social Housing Pension Scheme. Total contributions paid to these schemes and recognised as an expense in the year amounted to £44,35812023- £48,965). Defined benefit scheme The charitable company also participates in a separate multi-employer scheme which provides benefits to some 500 non-associated employer5, operated by the Social Housing Pension Scheme. The scheme is a defined benefit scheme in the UK. It is not possible for the charitable company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK. The scheme is classified as a 'last-man standing arrangement,. Therefore the charitable company is potentially liable for other participating employers, obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out with an effective date of 30 September 2023. This actuarial valuation was certified on 08th August 2024 and showed assets of £2,570m, liabilities of £3,263m and a deficit of £693m. To eliminate this funding shortfall, the trustees and the participating employers have agreed that additional contributions will be paid, in combination from all employers, to the scheme. Note that the scheme's previous valuation was carried out with an effective date of 30 September 2020; this valuation showed asset5 of £5,148m, liabilities of £6,708m and a deficit of £1,560m. Where the scheme is in deficit and where the charitable company has agreed to a deficit funding arrangement, the charitable company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. Present value of liabillty 2024 2023 Note Due within one year Due after more than one year 13 14 14.094 31,498 15,084 51,199 45,592 66,283 45
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Deficit contributlon schedule 2024 2023 Year I Year 2 Year 3 Year 4 Year 5 14,313 13,869 14,147 4.747 15,084 15,914 16,789 17,712 6,009 Total 47,076 71,508 Reconciliation of opening and closlng provision 2024 2023 Provision at start of period UnwindinB discount factor (interest expense) Deficit contribution paid Deficit revaluation 66,283 1,596 115,017) (7.270) 45,592 78,314 2,267 114,2981 66,283 Income and expenditure impact 2024 2023 Unwinding discount factor (interest expense) 1,596 2,267 Assumptions 2024 2023 Rate of discount 3.485 3.485 46
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 23. Operating lease commltments At 30 November 2024 the charitable company had commitments to make future mlnimum lease payments under non-cancellable operating leases as follows: 2024 2023 Amounts due within one year Amounts due between one and five years Amounts due after five years 157,603 9,056 20,475 166,659 20,475 In the prior year the charitable company had the following leases that were directly f unded by grants received from the Greenham Trust and therefore not included in the lease commitments disclosure above. As of 2024, these leases are no longer funded by Greenham Trust and the non-cancellable commitments are now included in the above disclosure. The charity has a lease at Cottlsmore. In 2023, the annual rent and service charge of the premises of approximately £49,485 were met in full by the Greenham Trust. The charity has a lease at Unit F Hambridge Road Industrial Estate, In 2023, the annual rent and service charge of the premise5 of approximately £20,500 were met in full by the Greenham Trust. The amount of non-cancellable operating lease payments recognised as an expense during the period was £274.255 {2023'. £110,935). 24. Related party transactions During the year, the charitable company received income of £2.56612023.. £1,292) and paid for goods of £2512023: £0) from Sonning Flowers Ltd, a company controlled by the daughter of a Trustee. No balance was outstanding at the year end. 25. Controlling party The trustees as a body administer the charitable company in accordance with the Memorandum and Articles of Association, therefore there is no single controlling party. 47
THE NEWBURY COMMUNITY RESOURCE CENTRE LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 26. Comparative Statement of Financlal ActSvities (incorporating Income and Expenditure Account) Unrestricted funds 2023 Restricted Total funds fund5 2023 2023 Income from: Donations and legacies Charitable activities: 40,888 1,569,740 163,908 1,742 204.796 1.571.482 Investments Total income 1,610.631 165.650 1.776,281 Expenditure on: Raising funds Charitable activitie5: 34.032 1,618.223 3.479 149.667 37.511 1.767,890 Total expendlture 1,652.255 153,146 1.805,401 Net (expendtture)/lncome (41,624) 12,504 129.1201 Transfers between funds 10.213 {10,2131 Net movement in funds 131.4111 2,291 (29,1201 Reconciliation of funds: Total funds brought forward Net movement in funds 308.056 (31,411} 185.121 2,291 493.177 (29,120} Total funds carried forward 276,645 187,412 464,057 48