**Registered number: 04144745 Charity number: 1087550** 

# **CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

**TRUSTEES' REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2021** 




**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **CONTENTS** 

||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2|
|**Independent auditors' report on the financial statements**|11 - 14|
|**Consolidated statement of financial activities**|15|
|**Consolidated balance sheet**|16|
|**Charity balance sheet**|17|
|**Consolidated statement of cash flows**|18|
|**Notes to the financial statements**|19 - 40|





**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021** 

Trustees appointed by the council fall into two categories: a) independent trustees, and b) representative trustees,  nominated by certain bodies to serve as their representative: 

|**Independent Trustees**|Mr B Biscoe|
|---|---|
||Mr P Coyne (appointed 10 September 2020)|
||Mrs H Frank, (Vice Chair) (appointed 10 June 2021)|
||Mrs S Guard (resigned 5 December 2020)|
||Ms N Hewitt|
||Mr L Rich (resigned 10 June 2021)|
||Dr R J Royle|
||Mr A Shepherd, (Chair)|
||Mr S Tredidgo|
||Mr P Willoughby (resigned 4 November 2021)|
|**Representative Trustees**|Lady M Berkeley, (Isles of Scilly Council) (resigned 7 October 2021)|
||Cllr H Frank, (Cornwall Council) (resigned 10 June 2021)|
||Cllr J Morgan, (Cornwall Council) (appointed 15 June 2021)|
||Cllr R Pears, (Cornwall Council) (appointed 15 June 2021)|
|**Company registered**<br>**number**<br>04144745<br>**Charity registered**<br>**number**<br>1087550<br>**Registered office**<br>The Chambers 1st Floor<br>Penryn Street<br>Redruth<br>Cornwall<br>TR15 2SP<br>**Company secretary**<br>Mr P Coyne (appointed Trustee 10th September 2020)<br>**Chief executive officer**<br>Mrs K Nissen<br>**Independent auditors**<br>Bishop Fleming LLP<br>Chartered Accountants<br>Statutory Auditors<br>Chy Nyverow<br>Newham Road<br>Truro<br>Cornwall<br>TR1 2DP<br>**Bankers**<br>Lloyds Bank plc<br>7 Boscawen Street<br>Truro<br>Cornwall<br>TR1 2QT||



Page 1 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **&+$,50$1¶6�67$7(0(17 FOR THE YEAR ENDED 31 MARCH 2021** 

0\������&KDLU¶V�6WDWHPHQW�KLQWHG�DW�WKH�³XQSUHFHGHQWHG�FKDOOHQJHV�DQG�FKDQJH´�EHLQJ�IDFHG�E\�HYHU\RQH�DV� ,�UHSRUWHG�RQ�D�ILQDQFLDO�\HDU�HQGLQJ�MXVW�DV� ZKDW�ZH�QRZ�NQRZ�DV�WKH�³ILUVW´ �ORFNGRZQ�ZDV�EHLQJ�LPSRVHG�� Obviously much of that UHSRUW�ZDV�ZULWWHQ�ZLWK�WKH�EHQHILW�RI�D�IHZ�PRQWKV¶�KLQGVLJKW�EXW�IHZ�FRXOG�KDYH� IRUHVHHQ�WKDW�DV�WKH������WUDGLQJ�\HDU�HQGHG��(QJODQG�ZRXOG�EH�GHHS�LQ�WKH�WKURHV�RI�WKH�³WKLUG´�QDWLRQDO� lockdown mandated by the worldwide COVID-19 pandemic. 

In this context the conduct of the management and staff of CRCC has been exceptional. Ways of working, which were believed and intended to be temporary in early 2020, have evolved into a new way of working ZKLFK�KHUDOG�WKH�³K\EULG�KRPH�ZRUNSODFH´�PRGHO�WKDW�ZLOO��,�EHOLeve, become standard for the majority of organisations where the operating environment permits. 

:RUNLQJ�ZLWKLQ�WKH�QHZ�³UXOHV´�WKH�&5&&�WHDP�KDYH��ZLWK�LQQRYDWLRQ��LQJHQXLW\�DQG�RXWVWDQGLQJ�GHGLFDWLRQ� responded to all challenges and have, where necessary, creatively adapted to ensure that the needs of the communities we serve and the partners with whom we work are constantly met at the highest level. 

± Obviously in such a traumatic year there have been changes some the result of measures initiated prior to, DQG�RWKHUV�SURPSWHG�E\��WKH�SDQGHPLF��&5&&¶V�ILQDQFH�SURFHVVHV�KDYH�EHHQ�RYHUKDXOHG�WR�GUDPDWLF�HIIHFW� DQG��ZLWK�WKH�VXSHUE�DQG�YDOXHG�KHOS�RI�H[WHUQDO�FRQVXOWDQWV��D�VWUDWHJ\�UHYLHZ�WKDW�VROLGLILHV�&5&&¶V� purpose and ensures a continuing, meaningful delivery of identified need within the communities of Cornwall is now well on its way to completion. 

External review of some of our services following potentially challenging internal changes has been very positive and CRCC continues to be highly regarded as a deliverer of excellence by the commissioning bodies with which we work. Similarly, CRCC continues to participate at the highest level both regionally and nationally - within ACRE - in alliances and partnership working to improve performance and delivery within the voluntary sector. 

± From a performance perspective this has been another outstanding year for CRCC, led, in her first full year of office, by our CEO, Katherine Nissen. Having set herself high standards in the first few months of her tenure she has ± faced with the full force of the pandemic ± surpassed all our expectations and continues to deliver excellent leadership to a superb team of people within an organisation that I am truly proud and privileged to Chair. I thank them all together with my superb fellow Trustees who have been vocal, vibrant and vigorous in their enthusiasm for CRCC, with especial thanks to Colonel Edward Bolitho, our Patron, whose wisdom has been a constant source of support. 

Over the past eighteen months the communities in Cornwall which we exist to serve have been severely affected by the challenges posed by the pandemic. In renewing our commitment to them I hope and believe that our collective experience of COVID-19 can trigger a fundamental rethink of community ties and ethics and an appreciation of what and who 21[st] Century Britain values most. 

7KH�7UXVWHHV¶�5HSRUW��LQFRUSRUDWLQJ�D�VWUDWHJLF�UHSRUW��ZDV�DSSURYHG�E\�RUGHU�RI�WKH�%RDUG�RI�7UXVWHHV, as the company directors and signed on its behalf by: 


**Mr A Shepherd** Chairman Date: 22 December 2021 

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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **75867((6¶ REPORT FOR THE YEAR ENDED 31 MARCH 2021** 

The trustees (who are also directors of the Charity for the purposes of the Companies Act) present their annual report together with the consolidated financial statements of the Charity and its subsidiary for the year ended  31 March 2021. 

The trustees confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015). 

Since the Charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. 

## **OBJECTIVES AND ACTIVITIES** 

## **OBJECTIVES OF THE CHARITY** 

The objectives of the charity are to promote any charitable purposes for the benefit of communities in the geographical county of Cornwall, including the Isles of Scilly, by, amongst other things: 

- x Improving the understanding of the social and economic strengths of Cornwall through research; 

- x Raising awareness of the importance of community services and encouraging and promoting their affordable provision; 

- x Supporting and promoting best value in the work of community and voluntary organisations; 

- x Promoting, developing and initiating activities for the welfare of disadvantaged individuals and groups; x Encouraging economic diversification and strengthening and supporting measures to provide and create sustainable employment; 

- x Working with others to ensure that policy makers and service providers take the needs and circumstances of local communities and voluntary organisations into account. 

The charity seeks to promote and organise co-operation in the achievement of the above objects and to that end bring together on our Board, representatives of the authorities and organisations engaged in the furtherance of these objectives within the geographical county of Cornwall and the Isles of Scilly. 

## **AIMS OF THE CHARITY** 

&&'/¶V�DLP�LV�WR�HPSRZHU�LQGLYLGXDOV�DQG�JURXSV�DFURVV�&RUQZDOO�DQG�WKH�,VOHV�RI�6FLOO\�LQ�RUGHU�WR�VXVWDLQ� and enhance the quality of life in the community. 

To achieve this aim we will adopt the following philosophies: 

- x Give people and communities the tools to determine their own priorities and paths; 

- x Respond to demands from them and the needs expressed by them, encouraging self-advocacy and the effective representation of those needs; 

- x Strengthen and support the social, community and economic regeneration of Cornwall and the Isles of Scilly, and voluntary activities and self-help within them. 

In working with individuals and groups, CCDL will respect the following values: 

- x We will be flexible, adaptable and responsive; 

- x We will respect views expressed to us and ensure that those views are given an appropriate hearing; x We will not seek to impose our views on others; 

- x We will be proactive where we see potential solutions to needs brought to our attention; 

- x We will pursue an active policy of equal access to our services, equal opportunity for customers and staff and sensitivity to the needs of individuals and groups; Page 3 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

- x We will promote dialogue and mediation. 

7KH�WUXVWHHV�KDYH�UHIHUUHG�WR�WKH�JXLGDQFH�FRQWDLQHG�LQ�WKH�&KDULW\�&RPPLVVLRQ¶V�LQIRUPDWLRQ�RQ�SXEOLF� benefLW�ZKHQ�UHYLHZLQJ�WKH�FKDULW\¶V�DLPV�DQG�REMHFWLYHV�LQ�SODQQLQJ�IXWXUH�DFWLYLWLHV��,Q�SDUWLFXODU��WKH� trustees consider how planned activities will contribute to the aims and objectives. 

Separate project business plans for each project area are used so that there is a tailored plan for each project. Progress against each plan will be reviewed and new outcomes and measures set annually where relevant. 

## **ABOUT CCDL** 

CCDL is a Cornish Charity that informs and guides local groups and individuals to achieve their aspirations and develop sustainable, inclusive communities. 

It is part of a network of 38 Community Councils across England, all sharing the aim of enhancing rural communities. 

There are 86 members of staff, some part-time and many are out in the field offering face to face support and information and are complimented by a small robust core of staff supporting them. 

## **&&'/¶V�9LVLRQ** 

&&'/¶V�9LVLRQ�LV�RI�WKULYLQJ�DQG�VHOI-confident Cornish communities. 

## **Vibrant** 

A community that has a local voice, a good quality of life and one that is addressing deprivation and supporting its local culture. 

## **Sustainable** 

A community that is striving to be sustainable in terms of food, farming, energy, people, jobs and homes. 

## **Inclusive** 

A community that can fully participate in life through good health and the accessibility and affordability of services. 

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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **OUR ACHIEVEMENTS AND PUBLIC BENEFIT** 

CCDL (trading as Cornwall Rural Community Charity) supports and strengthens communities. Our work comes broadly under three themes, Communities, Care and Skills. During 2020/2021 we achieved the following: 

## **COMMUNITIES** 

&5&&¶V�GLJLWDO�VNLOOV�SURMHFW�KHOSV�SHRSOH�WR�GHYHORS�WKHLU�,7�VNLOOV�DQG�JHW�WKHLU�ILQDQFHV�LQ�RUGHU�ZKLOH� improving their confidence and safety online. The Digital team has helped 428 people during the year March 20-21, with improving their confidence in online shopping, banking and communication. 

Our Clean Cornwall project assists communities and individuals with litter picks and beach cleans aiming to reduce litter and working alongside volunteers, businesses and Cornwall Council. Due to government guidelines, event litter picking has been limited this year. Instead, Clean Cornwall has been supporting individuals and family bubbles to get litter picking. Going into 2021, we look forward to supporting community OLWWHU�SLFNV��FUHDWLQJ�UHDO�EHKDYLRXU�FKDQJH��DQG�NHHSLQJ�&RUQZDOO¶V�ODQGVFDSH�WKULYLQJ�� 

Our Fishing Animateur project supports people in fishing communities to develop their business plans and secure loans as well as access grant funding, enabling sustainable, resilient growth. It has been an uncertain year for the fishing industry, with Brexit and lockdowns disrupting supply chains and hindering income. The Fishing Animateurs have been supporting the most adversely affected fishers to access funding. Their work has helped strengthen community resilience, support the domestic fish market and protect the small-scale fishing industry in our coastal areas. 

&5&&¶V�<RXWK�7HDP�SURYLGH�D�YDULHW\�RI�EHVSoke youth projects and initiatives across West Cornwall. An exciting new project for us this year is our running of a house in Newquay for young people aged 16+ who have been made homeless. The youth team have very much relished this new line of work, and have found it an exciting challenge. It allows the young people involved to make links with our other youth projects, such as Headstart, which develops resilience and improves mental wellbeing in young people. 

CRCC administer Wellbeing Community Grants on behalf of Cornwall Council and NHS Kernow that fund peer support groups for unpaid carers, dementia support groups and mental health support groups. These help people access activities and support to improve their health and wellbeing. Our grants programme has unfortunately suffered as a result of Covid-19. Few groups have been able to meet due to the combined effects of lockdowns, shielding and members sometimes unable to access video conferencing technology. However, we are pleased that we have still managed to distribute several grants this year. 

The Inclusion Matters Project increases well-being and connections in communities. The project has a comprehensive website www.cornwall-link.co.uk that signposts viewers and offers lots of volunteering opportunities. 

The Better Budgets project has supported people in debt, and those facing fuel poverty with help and guidance in managing their finances, accessing benefits and switching fuel providers. We have also provided budgeting support to village halls which faced many challenges during the lockdowns, with the ever-changing government guidance. 

The West Cornwall Food Project was introduced as a direct response to the success of The Newlyn Food Project that was carried out during the first Covid-19 lockdown. This project highlighted an obvious need for nutritious and delicious meals for vulnerable people in the region of West Penwith. The project now has an established network of volunteers and recipients, helping to reduce loneliness, isolation and food poverty in some of the most remote areas of West Cornwall. 

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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

There was an increase in anti-social behaviour in Helston during the easing of the first lockdown restrictions. In response, CRCC was asked to assist with reducing this, we send two youth workers to engage with young people over an initial eight-week period who quickly built a trusting relationship with the young people and were able to quickly identify what the problems were. Due to the success of the initial eight weeks, the CRCC \RXWK�ZRUNHUV¶�LQYRlvement was extended until the second national lockdown at the end of October. 

## **CARE** 

CRCC manages Kernow Carers Service which provides information, guidance and support to anyone in a caring role. This year, Kernow Carers Service has administered wellbeing grants for carers across Cornwall as well as supporting carers with online shopping, online banking, libraries and communication. We provided one to one carer support to over 6000 individuals and this service has been vital to improving the wellbeing of carers and those who depend on them throughout the pandemic. 

## **SKILLS** 

/HDUQ�<RXU�:D\� /<: �LV�&5&&¶V�VPDOO��VSHFLDOLVW�HGXFDWLRQ�SURYLVLRQ�IRU�\RXQJ�SHRSOH�DJHG����± 24 who have a learning disability. This year has seen the Learn Your Way and Work Your Way programmes go from strength to strength. The exceptionally skilled team of Tutors and Education Support Assistants have worked tirelessly to support the young people on the programmes, both through remote learning and face to face - sometimes both at the same time! It has been impressive to see the skill and compassion shown by these staff to the young people, particularly when change can be difficult for them to manage. It is testament to the respect and strength of relationships within that team that we have seen our young people flourishing 

## **VOLUNTEER POLICY** 

The Charity is grateful for the unstinting efforts of its volunteers who are involved in many aspects of our work. 

## **FINANCIAL REVIEW** 

## **GOING CONCERN** 

As in 2020 the pandemic has continued to impact on all areas of life and CRCC was no exception. The new ways of workLQJ�HVWDEOLVKHG�ODVW�\HDU�KDYH�FRQWLQXHG�WR�HQVXUH�WKDW�DOPRVW�DOO�RI�WKH�FKDULW\¶V�DFWLYLWLHV�KDYH� continued to be delivered to the required level by a CRCC workforce enthused with a unified sense of team spirit. One impact of the pandemic continues to be a closer working relationship with our partners within the voluntary Sector in Cornwall as we seek, collectively, to serve the best interests of our communities in the county. CRCC is, specifically involved in the development of an Infrastructure Alliance with Volunteer Cornwall and the Voluntary Sector Forum with whom an accord has set a very encouraging pattern for efficient partnership working going forward. 

After making appropriate enquiries, trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. 

## **FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES** 

As at 31 March 2021, the consolidated balance sheet on page 16 shows the total funds of CCDL stood at £1,665,101. Unrestricted funds of £1,062,263, including designated reserves of £250,209, represent the reserves available to the organisation to fulfil its existing commitments over the long term. 

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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **Unrestricted funds** 

The consolidated statement of financial activities on page 15 shows total unrestricted incoming resources for the year ended 31 March 2021 of £2,594,726] and total resources expended were £2,415,181. After adjustments for gains in investment assets of £32,820 and interfund transfers, net incoming resources for the year were £224,827. 

## **Restricted funds** 

As shown in the statement of financial activities, total incoming resources were £341,874 and total resources expended were 254,659. After adjustments for interfund transfers, the net resources expended for the year were £67,084. 

## **Irrecoverable VAT** 

During the year ended 31 March 2021 the Charity incurred irrecoverable VAT of £271 due to the partial exemption and non-business income rules. 

## **RESERVES POLICY** 

Sufficient reserves are required to provide: 

- �����:RUNLQJ�FDSLWDO�HTXLYDOHQW�WR�WKUHH�PRQWKV¶�XQUHVWULFWHG�IXQGV�H[SHQGLWXUH 

- �����3URWHFWLRQ�DJDLQVW�WKH�XQSUHGLFWHG�ORVV�RI�JUDQW�IXQGLQJ�DQG 

- ��� A hedge against liabilities 

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a OHYHO�WKDW�HTXDWHV�WR�DSSUR[LPDWHO\�WKUHH�PRQWKV¶�XQUHVWULFWHG�IXQG�H[SHQGLWXUH���%DVHG�RQ�WKH�DFFRXQWV�WR� 31 March 2021, this target level would be £400,000. At present the free reserves amount to £1,062,263, which includes the already designated reserve of £250,209, and given anticipated reductions in future funding this is acceptable to the trustees.  Sufficient reserves should be retained under each of the restricted funds to PHHW�WKH�FRPSDQ\¶V�REOLJDWLRQV�XQGHU�WKDW�IXQG� 

## **INVESTMENT POWERS** 

Under the memorandum and articles of association, the charity has the power to make any investment which the trustees see fit. 

## **INVESTMENT POLICY** 

Surplus cash is placed on bank deposit in order to maximise interest receivable subject to security of the funds and their availability to meet the needs of the business. All cash investments are made in the form of government securities or unit trusts.  There will be no investments in the shares of individual companies and there will be no speculative investment in land or buildings. Investments are valued annually by stockbrokers Charles Stanley & Co Ltd. 

A reserves and investment report is submitted to the Executive Committee at every meeting of that committee.  The trustees consider investment performance for the year to be reasonable considering prevailing global market conditions but are looking for better investment opportunities in the future. 

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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **CONSTITUTION** 

The Charity and the group is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 19 January 2001, as amended on 24 March 2016 and is a registered charity number 1087550. 

## **METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES** 

The management of the Charity and the group is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association. 

The organisation seeks trustees who can provide advice and guidance, based on individual experience, on all aspects of CRCC utilising their specific skills, knowledge or expertise to assist in the making of sound decisions.  They must have the following attributes: 

- Commitment to CCDL, a working knowledge of RCCs in general and CCDL in particular 

- An acceptance and understanding of the duties, responsibilities and liabilities of trusteeship 

- The willingness to devote the necessary time and effort to the duties of a trustee 

- Integrity mixed with good independent judgement plus the desire to be an effective team member 

- The ability to think creatively and strategically and a willingness to speak their mind 

As previously stated, representative trustees were nominated by certain organisations to serve on the board, the main nominating organisation being Cornwall Council. 

## **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES** 

CCDL aims to provide a carefully considered induction programme for each new trustee in order to absorb them quickly and effectively into the organisation and make them feel valued and welcome.  They will be given: 

- Access to relevant documentation regarding the role of trustee 

- ± 

- Information regarding CCDL its mission, role, working systems, policies and procedures 

- Good level of support from fellow trustees and CCDL staff members 

- Opportunity to meet CCDL staff and find out more about work in progress 

The induction programme is laid out in phases, allowing the new trustee to be trained on all aspects of CCDL, the work that it undertakes and their own role in the organisation.  On completion of the induction, feedback from the new trustee enables the organisation to assess if further training is required. 

CCDL complies with the Charity Governance Code. 

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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

**TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **ORGANISATIONAL STRUCTURE AND DECISION MAKING** 

CCDL is an independent charitable company employing 86 staff (as at 31 March 2021).  The policy and general affairs of the charitable company are directed by the full Council of trustees who may exercise all the powers of the charitable company as set out in its Memorandum and Articles of Association. 

Prior to each meeting of the full Council, presentations are given by project staff enabling the trustees to EHWWHU�UHYLHZ�DQG�HYDOXDWH�&&'/¶V�SHUIRUPDQFH�DQG�WDUJHWV�DQG�WKHUHE\�SURYLGLQJ�WUXVWHHV�ZLWK�D�JUHDWHU� understanding of CCDL's project activities and allowing them to meet and consult with key staff. 

Day to day responsibility for the overall operation of CCDL is delegated to the Chief Executive, supported by the  Management Team, a small team of managers with responsibility for key work areas.  The membership of this group is as follows: 

Chief Executive Development Lead (Rural Development) Development Lead (Social Fabric) Human Resources Manager Youth & Community Manager Care & Prevention Manager 

Contracts and Funding bids are discussed by trustees at full board meetings in advance of submission although authority for final approval is sometimes delegated to a senior trustee for reasons of timing and application deadlines. In every case, contracts are signed, usually the Chair and counter-signed by the Chief Executive or the Company Secretary. 

## **PAY POLICY** 

The CEO has authority to agree pay rises, trustees have oversight of non-standard pay rises over £2,000. 

## **EQUALITY AND DIVERSITY** 

CCDL is an equal opportunities employer.  It aims to ensure that no job applicant, employee or trustee receives less favourable treatment on the grounds of sex, age, disability, marital status, sexual orientation, religion, colour, nationality or ethnic or national origin, nor is disadvantaged by conditions or requirements which cannot be shown to be justifiable.  This principle will apply to recruitment, promotion, transfer, training, benefits, facilities, procedures and all terms and conditions of employment.  Selection criteria and procedures will be regularly reviewed to ensure that individuals are selected, promoted and treated on the basis of their relative merits and abilities.  All employees will be given, where appropriate and possible, the equal opportunity to progress within the organisation. CCDL will ensure that any future changes of office location will be easily accessible to all. 

This policy aims to challenge discrimination and encourage diversity in all areas of the organisation.  We aim to ensure that the organisation reflects and meets the needs of the community and incorporates equal opportunities into all areas of work. 

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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021** 

## **RISK MANAGEMENT** 

The trustees regularly review the major strategic, business and operational risks faced by the charity. These risks are identified in participation with project managers, volunteers, users and by the management and administrative staff of the charity. The trustees are involved in a continuous process of carrying out risk assessments at all CCDL premises and establishing systems to mitigate these risks. The trustees recognise that they need to understand: 

- x The respective roles of board and staff 

- x The good practice that needs to be followed in the recruitment and induction of new trustees 

- x That regular reviews need to be undertaken of trustee and organisational performance 

- x That compliance is essential with relevant laws affecting the organisation 

- x That they must ensure that good employment procedures and practices are in place in order to provide a well supported staff 

Following the independent Rose Regeneration Review last year, the CEO and Chairman continue to work with the board of trustees to set a strategic direction that will lead us to focusing on projects that fall into one of three areas - communities, care and skills. We will be continuing to deliver projects that are historical with ongoing contracts whilst looking at new and meaningful opportunities post Covid both as an individual organisation and alongside other charities in Cornwall. This response will also take into account new services that have sprung up in response to the Covid crisis whilst also being mindful of the impact Brexit will have on &RUQZDOO¶V�FRPPXQLWLHV�DQG�LQGLYLGXDOV��2XU�IRFXV�FRQWLQXHV to be to support and strengthen Cornish Communities to improve quality of life. 

## **INFORMATION ON FUNDRAISING PRACTICES** 

Fundraising is carried out in the context of generating funds for specific projects on a project by project basis, whether from grants or from contracts, with the intention that each project is able to fund its activities from its own particular funding source. 

General fundraising from the public or other bodies is not undertaken, the services of a professional fund-raiser or a commercial participator are not used. No complaints have been received regarding fundraising activities. 

7KH�7UXVWHHV¶�5HSRUW��LQFRUSRUDWLQJ�D�VWUDWHJLF�UHSRUW��ZDV�DSSURYHG�E\�RUGHU�RI�WKH�%RDUG�RI�7UXVWHHV��DV�WKH� company directors, and signed on its behalf by: 


**Mr A Shepherd** Chair of Trustees Date: 22 December 2021 

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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  CORNWALL COMMUNITY DEVELOPMENT LIMITED** 

## **OPINION** 

We have audited the financial statements of Cornwall Community Development Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, 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 Financial Reporting Standard 102 'The Financial Reporting 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 the Group's and of the parent charitable company's affairs as at 31 March 2021 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. 

## **BASIS FOR OPINION** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's 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. 

## **CONCLUSIONS RELATING TO GOING 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 Group's or the parent 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 responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

Page 11 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  CORNWALL COMMUNITY DEVELOPMENT LIMITED (CONTINUED)** 

## **OTHER INFORMATION** 

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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 of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements. 

- the Trustees' Report has been prepared in accordance with applicable legal requirements. 

## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION** 

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. 

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion: 

- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or 

- the parent charitable company financial statements are not in agreement with the accounting records 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' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report. 

## **RESPONSIBILITIES OF TRUSTEES** 

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the 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 Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. 

Page 12 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  CORNWALL COMMUNITY DEVELOPMENT LIMITED (CONTINUED)** 

## **AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' 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 misstatement 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- We have considered the nature of the industry and sector, control environment, and financial performance; 

- We have considered the results of enquiries with management and the directors in relation to their own identification and assessment of the risks of irregularities within the entity; and 

- We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation. 

- We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. 

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override. 

We have also obtained an understanding of the legal and regulatory frameworks that the Company 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 included the UK Companies Act, FRS 102 and UK tax legislation. 

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or avoid a material penalty. These are safeguarding regulations, data protection legislation, health and safety regulations, environmental regulations and employment law. 

Our procedures to respond to risks identified included the following: 

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; 

- Enquiring of management in relation to actual and potential claims or litigation; 

- Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; 

- Reviewing board meeting minutes; 

- Performing detailed transactional testing in relation to the recognition of revenue with a particular focus around the year-end cut off 

- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgments made in accounting estimates are indicative of potential bias; and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business. 

We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit. 

Page 13 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  CORNWALL COMMUNITY DEVELOPMENT LIMITED (CONTINUED)** 

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. 

## **USE OF OUR REPORT** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed. 


**Alison Oliver FCA (Senior statutory auditor)** for and on behalf of **Bishop Fleming LLP** Chartered Accountants Statutory Auditors Chy Nyverow Newham Road Truro Cornwall TR1 2DP 

> Date: 22 December 2021 

Page 14 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED** 

## **(A COMPANY LIMITED BY GUARANTEE)** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>3<br>Charitable activities<br>4<br>Other trading activities<br>5<br>Investments<br>6<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>7<br>Charitable activities<br>8<br>**Total expenditure**<br>**Net income before net gains/(losses)**<br>**on investments**<br>Net gains/(losses) on investments<br>**Net income before taxation**<br>Taxation<br>12<br>**Net income after taxation**<br>Transfers between funds<br>19<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>Net movement in funds<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>**337,455**<br>**1,928,351**<br>**319,722**<br>**9,198**<br>**2,594,726**<br>**889,335**<br>**1,525,846**<br>**2,415,181**<br>**179,545**<br>**32,820**<br>**212,365**<br>**(8,209)**<br>**204,156**<br>**20,131**<br>**224,287**<br>**837,976**<br>**224,287**<br>**1,062,263**|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>**37,568**<br>**304,306**<br>**-**<br>**-**<br>**341,874**<br>**-**<br>**254,659**<br>**254,659**<br>**87,215**<br>**-**<br>**87,215**<br>**-**<br>**87,215**<br>**(20,131)**<br>**67,084**<br>**535,754**<br>**67,084**<br>**602,838**|**Total**<br>**funds**<br>**2021**<br>**£**<br>**375,023**<br>**2,232,657**<br>**319,722**<br>**9,198**<br>**2,936,600**<br>**889,335**<br>**1,780,505**<br>**2,669,840**<br>**266,760**<br>**32,820**<br>**299,580**<br>**(8,209)**<br>**291,371**<br>**-**<br>**291,371**<br>**1,373,730**<br>**291,371**<br>**1,665,101**|As restated<br>Total<br>funds<br>2020<br>£<br>233,154<br>1,967,625<br>476,755<br>10,198<br>2,687,732<br>766,527<br>1,748,542<br>2,515,069<br>172,663<br>(19,260)<br>153,403<br>(2,755)<br>150,648<br>-<br>150,648<br>1,223,082<br>150,648<br>1,373,730|
|---|---|---|---|---|



The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 19 to 40 form part of these financial statements. 

Page 15 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:04144745** 

**CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2021** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>13<br>Investments<br>14<br>**Current assets**<br>Debtors<br>15<br>Investments<br>16<br>Cash at bank and in hand<br>23<br>Creditors: amounts falling due within one<br>year<br>17<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Total net assets**<br>**Charity funds**<br>Restricted funds<br>19<br>Unrestricted funds<br>19<br>**Total funds**|**334,823**<br>**188,503**<br>**833,914**<br>**1,357,240**<br>**(334,952)**|**2021**<br>**£**<br>**459,797**<br>**183,016**<br>**642,813**<br>**1,022,288**<br>**1,665,101**<br>**1,665,101**<br>**602,838**<br>**1,062,263**<br>**1,665,101**|417,493<br>185,939<br>494,342<br>1,097,774<br>(347,953)|As restated<br>2020<br>£<br>473,404<br>150,505|
|---|---|---|---|---|
|||||623,909<br>749,821|
|||||1,373,730|
||||||
|||||1,373,730|
|||||535,754<br>837,976|
||||||
|||||1,373,730|



The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 


**Mr A Shepherd** Chair of Trustees Date: 22 December 2021 

The notes on pages 19 to 40 form part of these financial statements. 

Page 16 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:04144745** 

## **CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2021** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>13<br>Investments<br>14<br>**Current assets**<br>Debtors<br>15<br>Investments<br>16<br>Cash at bank and in hand<br>Creditors: amounts falling due within one<br>year<br>17<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Total net assets**<br>**Charity funds**<br>Restricted funds<br>19<br>Unrestricted funds<br>19<br>**Total funds**|**334,306**<br>**188,503**<br>**644,509**<br>**1,167,318**<br>**(342,516)**|**2021**<br>**£**<br>**459,797**<br>**183,018**<br>**642,815**<br>**824,802**<br>**1,467,617**<br>**1,467,617**<br>**602,838**<br>**864,779**<br>**1,467,617**|416,293<br>185,939<br>431,845<br>1,034,077<br>(300,220)|As restated<br>2020<br>£<br>473,404<br>150,507|
|---|---|---|---|---|
|||||623,911<br>733,857|
|||||1,357,768|
||||||
|||||1,357,768|
|||||535,754<br>822,014|
||||||
|||||1,357,768|



The Charity's net movement in funds for the year was £109,849 (2020 - £139,258). 

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 


**Mr A Shepherd** Chair of Trustees Date: 22 December 2021 

The notes on pages 19 to 40 form part of these financial statements. 

Page 17 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021** 

|**Cash flows from operating activities**<br>Net cash used in operating activities<br>Interest receivable<br>Purchase of tangible fixed assets<br>Taxation paid<br>**Net cash used in investing activities**<br>**Cash flows from financing activities**<br>Proceeds on disposal of investments<br>**Net cash provided by financing activities**<br>**Change in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**<br>The notes on pages 19 to 40 form part of these financial statements|**2021**<br>**£**<br>**345,587**<br>**309**<br>**(3,569)**<br>**(2,755)**<br>**(6,015)**<br>**-**<br>**-**<br>**339,572**<br>**494,342**<br>**833,914**|As restated<br>2020<br>£<br>139,618<br>1,877<br>(11,307)<br>-<br>**(9,430)**<br>92,037<br>**92,037**<br>**222,225**<br>272,117<br>494,342|
|---|---|---|



Page 18 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **1. GENERAL INFORMATION** 

The Charity is a company limited by guarantee incorporated in England (Company no: 04144745). The members of the charitable company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity. 

The registered office is 2 Princes Street, Truro, Cornwall, TR1 2ES. 

## **2. ACCOUNTING POLICIES** 

## **2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS** 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

Cornwall Community Development Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. 

The Group has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements. 

The financial statements use British Pounds Sterling as the presentation currency, and are rounded to the nearest £1 throughout. 

## **2.2 GOING CONCERN** 

The financial statements have been prepared on a going concern basis as the Trustees 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 authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern. 

## **2.3 INCOME** 

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

Page 19 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **2. ACCOUNTING POLICIES (continued)** 

## **2.4 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 allocated on the portion of the asset’s use. 

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. 

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. 

All expenditure is inclusive of irrecoverable VAT. 

## **2.5 GOVERNMENT GRANTS** 

Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated Statement of Financial Activities as the related expenditure is incurred. 

## **2.6 INTEREST RECEIVABLE** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 

## **2.7 TAXATION** 

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is 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. 

Page 20 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **2. ACCOUNTING POLICIES (continued)** 

## **2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION** 

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. 

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. 

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. 

Depreciation is provided on the following bases: 

|Freehold property|- 2% per annum on straight line basis|
|---|---|
|Office equipment|- Between 3 and 10 years on straight line basis|
|Solar panels|- 4% per annum on straight line basis|



Certain assets used by specific projects are written off over the remaining term of the project and this may be shorter than the timescale stated above. 

## **2.9 INVESTMENTS** 

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities. 

Investments in subsidiaries are valued at cost less provision for impairment. 

## **2.10 DEBTORS** 

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

## **2.11 CASH AT BANK AND IN HAND** 

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

Page 21 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **2. ACCOUNTING POLICIES (continued)** 

## **2.12 LIABILITIES AND PROVISIONS** 

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 Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost. 

## **2.13 PENSIONS** 

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. 

## **2.14 FUND ACCOUNTING** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

Investment income, gains and losses are allocated to the appropriate fund. 

Page 22 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **3. INCOME FROM DONATIONS AND LEGACIES** 

|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>Donations<br>222<br>Grants - CCDLi<br>337,233<br>Government grants<br>-<br>**TOTAL 2021**<br>337,455<br>TOTAL 2020<br>224,614|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>-<br>-<br>37,568<br>37,568<br>8,540|**Total**<br>**funds**<br>**2021**<br>**£**<br>**222**<br>**337,233**<br>**37,568**<br>**375,023**<br>233,154|Total<br>funds<br>2020<br>£<br>69,872<br>163,282<br>-|
|---|---|---|---|
||||233,154|
|||||



Government grants relates to funds received through the Coronavirus Job Retention Scheme. 

## **4. INCOME FROM CHARITABLE ACTIVITIES** 

|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>Income from charitable activities<br>1,928,351<br>TOTAL 2020 AS RESTATED<br>1,730,633|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>304,306<br>236,992|**Total**<br>**funds**<br>**2021**<br>**£**<br>**2,232,657**<br>1,967,625|As restated<br>Total<br>funds<br>2020<br>£<br>1,967,625|
|---|---|---|---|
|||||



Page 23 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **5. INCOME FROM OTHER TRADING ACTIVITIES** 

## **Income from fundraising events** 

|**Unrestricted**<br>**funds**<br>**2021**<br>**Restricted**<br>**funds**<br>**2021**<br>**£**<br>**£**<br>Project fees<br>267,411<br>-<br>Other Income<br>52,311<br>-<br>Other income - CCDLi<br>-<br>-<br>**TOTAL 2021**<br>319,722<br>-<br>TOTAL 2020<br>415,272<br>61,483<br>**6.**<br>**INVESTMENT INCOME**<br>**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>Local listed investments<br>9,198<br>Cash deposits<br>-<br>**TOTAL 2021**<br>9,198<br>TOTAL 2020<br>10,198|**Total**<br>**funds**<br>**2021**<br>**£**<br>**267,411**<br>**52,311**<br>**-**<br>**319,722**<br>476,755<br>**Total**<br>**funds**<br>**2021**<br>**£**<br>**9,198**<br>**-**<br>**9,198**<br>10,198|Total<br>funds<br>2020<br>£<br>361,256<br>81,116<br>34,383|
|---|---|---|
|||476,755|
|||Total<br>funds<br>2020<br>£<br>7,192<br>3,006|
|||10,198|
||||



Page 24 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **7. EXPENDITURE ON RAISING FUNDS** 

|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>CCDLi General trading expense<br>35,220<br>CRCC Other fundraising trading expense<br>205,203<br>Wages and salaries<br>590,582<br>Employers' NI contributions<br>46,035<br>Employers' pension costs<br>12,295<br>**TOTAL 2021**<br>889,335<br>TOTAL 2020<br>766,527|**Total**<br>**funds**<br>**2021**<br>**£**<br>**35,220**<br>**205,203**<br>**590,582**<br>**46,035**<br>**12,295**<br>**889,335**<br>766,527|Total<br>funds<br>2020<br>£<br>63,794<br>155,800<br>490,941<br>42,812<br>13,180|
|---|---|---|
|||766,527|
||||



## **8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES** 

## **Summary by fund type** 

|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>Expenditure on charitable activities<br>1,525,846<br>TOTAL 2020<br>1,422,491|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>254,659<br>326,051|**Total**<br>**funds**<br>**2021**<br>**£**<br>**1,780,505**<br>1,748,542|Total<br>funds<br>2020<br>£<br>1,748,542|
|---|---|---|---|
|||||



Page 25 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

|**9.**|**AUDITORS' REMUNERATION**|||
|---|---|---|---|
|||**2021**|2020|
|||**£**|£|
||Fees payable to the Charity's auditor for the audit of the Charity's annual|||
||accounts|**5,790**|5,675|
||Fees payable to the Charity's auditor in respect of:|||
||All non-audit services not included above|**3,400**|3,327|



Page 26 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **10. STAFF COSTS** 

|**Group**<br>Group<br>**2021**<br>2020<br>**£**<br>£<br>Wages and salaries<br>**1,654,819**<br>1,715,066<br>Social security costs<br>**117,397**<br>121,576<br>Contribution to defined contribution pension<br>schemes<br>**31,353**<br>34,093<br>**1,803,569**<br>1,870,735<br>The average number of persons employed by the Charity during the year was<br>**Group**<br>Group<br>**2021**<br>2020<br>**No.**<br>No.<br>Average headcount<br>**83**<br>91|**Charity**<br>**2021**<br>**£**<br>**1,560,568**<br>**106,566**<br>**29,554**<br>**1,696,688**<br>as follows:<br>**Charity**<br>**2021**<br>**No.**<br>**83**|Charity<br>2020<br>£<br>1,611,823<br>112,360<br>32,706|
|---|---|---|
|||1,756,889<br>Charity<br>2020<br>No.<br>91|



The Trust considers its key management personnel to comprise of the Trustees and the Chief Executive Officer; the Prevention and Carers Service Manager; the Business Operations and Training Manager; the Youth Team Manager; the Development Lead; the HR Manager; the Management Accountant and the Financial Manager. The total employment benefits including pension contributions of the key management personnel were £318,898 (2020: £348,669). 

No employee received remuneration amounting to more than £60,000 in either year. 

## **11. TRUSTEES' REMUNERATION AND EXPENSES** 

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL). 

During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL). 

## **12. TAXATION** 

|**CORPORATION TAX**<br>Current tax on net income for the year<br>**TAXATION ON NET INCOME**|**2021**<br>**£**<br>**8,209**<br>**8,209**|2020<br>£<br>2,755|
|---|---|---|
||||
|||2,755|



There were no factors that affected the tax charge for the year which has been calculated on net income at the standard rate of corporation tax in the UK of 19% _(_ 2020 _-_ 19 _%)._ 

The above corporation tax charge relates to the Charity's trading subsiary, CCDL Innovation Ltd. 

Page 27 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **13. TANGIBLE FIXED ASSETS** 

## **GROUP AND CHARITY** 

|**COST OR VALUATION**<br>At 1 April 2020<br>Additions<br>At 31 March 2021<br>**DEPRECIATION**<br>At 1 April 2020<br>Charge for the year<br>At 31 March 2021<br>**NET BOOK VALUE**<br>At 31 March 2021<br>At 31 March 2020|**Freehold**<br>**property**<br>**£**<br>**482,146**<br>**-**<br>**482,146**<br>**45,814**<br>**8,941**<br>**54,755**<br>**427,391**<br>436,332|**Office**<br>**equipment **<br>**£**<br>**32,992**<br>**3,569**<br>**36,561**<br>**22,254**<br>**6,297**<br>**28,551**<br>**8,010**<br>10,738|**Solar panels**<br>**£**<br>**32,960**<br>**-**<br>**32,960**<br>**6,626**<br>**1,938**<br>**8,564**<br>**24,396**<br>26,334|**Total**<br>**£**<br>**548,098**<br>**3,569**|
|---|---|---|---|---|
|||||**551,667**|
|||||**74,694**<br>**17,176**|
|||||**91,870**|
||||||
|||||**459,797**|
|||||473,404|



The freehold property noted above relates to the property transferred from Penwith Community Development Trust, following the merger on 1 November 2016. There is a legal charge on the property in favour of Cornwall Council. 

Page 28 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **14. FIXED ASSET INVESTMENTS** 

|**GROUP**<br>**COST OR VALUATION**<br>At 1 April 2020<br>Revaluations<br>AT 31 MARCH 2021<br>**NET BOOK VALUE**<br>AT 31 MARCH 2021<br>AT 31 MARCH 2020<br>**CHARITY**<br>**COST OR VALUATION**<br>At 1 April 2020<br>Revaluations<br>AT 31 MARCH 2021<br>**NET BOOK VALUE**<br>AT 31 MARCH 2021<br>AT 31 MARCH 2020|**Investments**<br>**in**<br>**subsidiary**<br>**companies**<br>**£**<br>**2**<br>**-**<br>**2**<br>**2**<br>2|**Listed**<br>**investments**<br>**£**<br>**150,505**<br>**32,511**<br>**183,016**<br>**183,016**<br>150,505|**Listed**<br>**investments**<br>**£**<br>**150,505**<br>**32,511**|
|---|---|---|---|
||||**183,016**|
|||||
||||**183,016**|
||||150,505|
||||**Total**<br>**£**<br>**150,507**<br>**32,511**|
||||**183,018**|
|||||
||||**183,018**|
||||150,507|



Page 29 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **14. FIXED ASSET INVESTMENTS (CONTINUED)** 

## **PRINCIPAL SUBSIDIARIES** 

The following was a subsidiary undertaking of the Charity: 

**Name Company Registered office or principal Principal activity number place of business** CCDL Innovation Ltd 11234125 2 Princes Street, Truro, TR1 2ES Running Commercial operations **Class of Holding Included in shares consolidation** Ordinary 100% Yes 

The financial results of the subsidiary for the year were: 

|**Name**<br>**Income**<br>**£**<br>**Expenditure**<br>**£**<br>CCDL Innovation Ltd<br>**189,203**<br>**(155,710)**<br>**15.**<br>**DEBTORS**<br>**Group**<br>Group<br>As restated<br>**2021**<br>2020<br>**£**<br>£<br>**DUE WITHIN ONE YEAR**<br>Trade debtors<br>**172,805**<br>267,139<br>Other debtors<br>**547**<br>74<br>Prepayments and accrued income<br>**161,471**<br>150,280<br>**334,823**<br>417,493<br>**16.**<br>**CURRENT ASSET INVESTMENTS**<br>**Group**<br>Group<br>**2021**<br>2020<br>**£**<br>£<br>Unlisted investments<br>**188,503**<br>185,939|**Profit for**<br>**the year**<br>**£**<br>**33,493**<br>**Charity**<br>**2021**<br>**£**<br>**172,805**<br>**30**<br>**161,471**<br>**334,306**<br>**Charity**<br>**2021**<br>**£**<br>**188,503**|**Net assets**<br>**£**<br>**49,455**<br>Charity<br>As restated<br>2020<br>£<br>265,939<br>74<br>150,280|
|---|---|---|
||||
|||416,293|
|||Charity<br>2020<br>£<br>185,939|



Page 30 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade creditors<br>Amounts owed to group undertakings<br>Corporation tax<br>Other taxation and social security<br>Other creditors<br>Accruals and deferred income<br>Deferred income at 1 April 2020<br>Resources deferred during the year<br>Amounts released from previous periods|**Group**<br>**2021**<br>**£**<br>**49,272**<br>**-**<br>**10,907**<br>**48,838**<br>**245**<br>**225,690**<br>**334,952**<br>**Group**<br>**2021**<br>**£**<br>**73,015**<br>**281,183**<br>**(73,015)**<br>**281,183**|Group<br>As restated<br>2020<br>£<br>107,241<br>-<br>2,698<br>75,172<br>4,172<br>158,670<br>347,953<br>Group<br>As restated<br>2020<br>£<br>141,883<br>73,015<br>(141,883)<br>73,015|**Charity**<br>**2021**<br>**£**<br>**48,729**<br>**25,727**<br>**-**<br>**45,170**<br>**-**<br>**222,890**<br>**342,516**<br>**Charity**<br>**2021**<br>**£**<br>**73,015**<br>**133,153**<br>**(73,015)**<br>**133,153**|Charity<br>As restated<br>2020<br>£<br>103,987<br>7,267<br>-<br>73,062<br>3,473<br>112,431<br>300,220<br>Charity<br>As restated<br>2020<br>£<br>105,063<br>73,015<br>(105,063)<br>73,015|
|---|---|---|---|---|



## **18. PRIOR YEAR ADJUSTMENTS** 

A prior year adjustment has been made to recognise grant income where the recognition criteria had been met but income had not been recognised. The effect on the prior year financial statements is an increase in income from charitable activities of £42,559, a decrease in deferred income of £56,889, an increase in accrued income of £16,050 and an increase in funds brought forward of £72,935. 

Page 31 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

|**19.**<br>**STATEMENT OF FUNDS**<br>**STATEMENT OF FUNDS - CURRENT YEAR**<br>**UNRESTRICTED FUNDS**<br>**DESIGNATED FUNDS**<br>Relocation and refurbishment fund<br>Penwith Centre designated funds<br>Redundancy funds<br>**GENERAL FUNDS**<br>General Funds<br>Kernow Carers Service<br>Revaluation Reserve<br>CCDLi Reserves<br>**TOTAL UNRESTRICTED FUNDS**|**Balance at 1**<br>**April 2020**<br>**£**<br>**65,209**<br>**25,000**<br>**160,000**<br>**250,209**<br>**519,814**<br>**19,402**<br>**32,645**<br>**15,906**<br>**587,767**<br>**837,976**|**Income**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**1,650,728**<br>**606,765**<br>**-**<br>**337,233**<br>**2,594,726**<br>**2,594,726**|**Expenditure**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(1,900,730)**<br>**(380,559)**<br>**-**<br>**(133,892)**<br>**(2,415,181)**<br>**(2,415,181)**|**Taxation**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(8,209)**<br>**(8,209)**<br>**(8,209)**|**Transfers**<br>**in/out**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**20,131**<br>**-**<br>**-**<br>**-**<br>**20,131**<br>**20,131**|**Gains/**<br>**(Losses)**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**32,820**<br>**-**<br>**-**<br>**-**<br>**32,820**<br>**32,820**|**Balance at**<br>**31 March**<br>**2021**<br>**£**<br>**65,209**<br>**25,000**<br>**160,000**|
|---|---|---|---|---|---|---|---|
||||||||**250,209**|
||||||||**322,763**<br>**245,608**<br>**32,645**<br>**211,038**|
||||||||**812,054**|
||||||||**1,062,263**|



Page 32 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **19. STATEMENT OF FUNDS (CONTINUED)** 

|**RESTRICTED FUNDS**<br>Capacity Building & Training<br>Clean Cornwall<br>Carers Reserves<br>Penwith Centre Building<br>Sunshine on Penwith Centre<br>Coronavirus Job Retention Scheme<br>Community Flood Forum<br>Aged Veterans<br>Heritage<br>Digital Outreach<br>**TOTAL OF FUNDS**|**Balance at 1**<br>**April 2020**<br>**£**<br>**4,952**<br>**44,349**<br>**23,787**<br>**436,333**<br>**26,333**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**535,754**<br>**1,373,730**|**Income**<br>**£**<br>**-**<br>**86,710**<br>**-**<br>**-**<br>**-**<br>**37,569**<br>**26,470**<br>**94,650**<br>**16,050**<br>**80,425**<br>**341,874**<br>**2,936,600**|**Expenditure**<br>**£**<br>**-**<br>**(65,458)**<br>**(8,608)**<br>**(10,057)**<br>**(1,454)**<br>**(37,569)**<br>**(26,470)**<br>**(36,446)**<br>**(11,950)**<br>**(56,647)**<br>**(254,659)**<br>**(2,669,840)**|**Taxation**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(8,209)**|**Transfers**<br>**in/out**<br>**£**<br>**(4,952)**<br>**-**<br>**(15,179)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(20,131)**<br>**-**|**Gains/**<br>**(Losses)**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**32,820**|**Balance at**<br>**31 March**<br>**2021**<br>**£**<br>**-**<br>**65,601**<br>**-**<br>**426,276**<br>**24,879**<br>**-**<br>**-**<br>**58,204**<br>**4,100**<br>**23,778**|
|---|---|---|---|---|---|---|---|
||||||||**602,838**|
||||||||**1,665,101**|



Page 33 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **19. STATEMENT OF FUNDS (CONTINUED)** 

## **Designated Funds** 

Relocation and Refurbishment fund is monies for costs of relocating the charity, or to be put towards the costs of a property. 

Penwith Centre designated funds consists of £25,000 repair funds. 

CRCC redundancy fund has been designated in the year by the Trustees for the specific purpose of covering the redundancy payments of all staff if future funding becomes unavailable. 

## **Restricted Funds** 

Clean Cornwall fund is specific funding receved for the Clean Cornwall activities. 

Penwith Centre Building - this represents the net book value of the Penwith Centre. 

Sunshine on Penwith Centre - this represents the net book value of the solar panels on the Penwith Centre. 

Coronavirus Job Retention Scheme - Funding from the government for the Coronavirus Job Retention Scheme. 

Community Flood Forum - Funding to support homes and businesses at risk of flooding. 

Aged Veterans - Funding for the practical support for veterans wellbeing as well as families and carers. 

Digital Outreach - Funding for the provision of support to help with use of devices and advice on how to access online services.. 

Where a project has ceased or there is an over or under spend, and the funder has given their permission, a transfer to or from Unrestricted Funds is made to balance out the fund 

Page 34 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

**19. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR** 

|**UNRESTRICTED FUNDS**<br>**DESIGNATED FUNDS**<br>Relocation and refurbishment fund<br>Penwith Centre designated funds<br>Redundancy funds<br>**GENERAL FUNDS**<br>General Funds<br>Kernow Carers Service<br>Revaluation Reserve<br>CCDLi Reserves<br>**TOTAL UNRESTRICTED FUNDS**|Balance at<br>1 April 2019<br>£<br>65,209<br>25,000<br>176,000<br>266,209<br>358,980<br>20,387<br>51,905<br>4,573<br>435,845<br>702,054|As restated<br>Income<br>£<br>-<br>-<br>-<br>-<br>1,455,197<br>713,376<br>-<br>197,665<br>2,366,238<br>2,366,238|Expenditure<br>£<br>-<br>-<br>-<br>-<br>(1,402,119)<br>(603,322)<br>-<br>(183,577)<br>(2,189,018)<br>(2,189,018)|Taxation<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(2,755)<br>(2,755)<br>(2,755)|Transfers<br>in/out<br>£<br>-<br>-<br>(16,000)<br>(16,000)<br>107,756<br>(111,039)<br>-<br>-<br>(3,283)<br>(19,283)|Gains/<br>(Losses)<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>(19,260)<br>-<br>(19,260)<br>(19,260)|Balance at<br>31 March<br>2020<br>£<br>65,209<br>25,000<br>160,000|
|---|---|---|---|---|---|---|---|
||||||||250,209|
||||||||519,814<br>19,402<br>32,645<br>15,906|
||||||||587,767|
||||||||837,976|



Page 35 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **19. STATEMENT OF FUNDS (CONTINUED)** 

|**RESTRICTED FUNDS**<br>Capacity Building & Training<br>Clean Cornwall<br>Health and Wellbeing<br>Carers Reserves<br>Penwith Centre Building<br>Sunshine on Penwith Centre<br>**TOTAL OF FUNDS**|Balance at<br>1 April 2019<br>£<br>-<br>18,227<br>-<br>24,787<br>449,741<br>28,273<br>521,028<br>1,223,082|As restated<br>Income<br>£<br>20,636<br>88,810<br>212,048<br>-<br>-<br>-<br>321,494<br>2,687,732|Expenditure<br>£<br>(15,684)<br>(62,688)<br>(231,331)<br>(1,000)<br>(13,408)<br>(1,940)<br>(326,051)<br>(2,515,069)|Taxation<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(2,755)|Transfers<br>in/out<br>£<br>-<br>-<br>19,283<br>-<br>-<br>-<br>19,283<br>-|Gains/<br>(Losses)<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(19,260)|Balance at<br>31 March<br>2020<br>£<br>4,952<br>44,349<br>-<br>23,787<br>436,333<br>26,333|
|---|---|---|---|---|---|---|---|
||||||||535,754|
||||||||1,373,730|



Page 36 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **20. SUMMARY OF FUNDS** 

## **SUMMARY OF FUNDS - CURRENT YEAR** 

|Designated funds<br>General funds<br>Restricted funds<br>**SUMMARY OF FUNDS - PRIOR YEAR**<br>Designated funds<br>General funds<br>Restricted funds|**Balance at 1**<br>**April 2020**<br>**£**<br>**250,209**<br>**587,767**<br>**535,754**<br>**1,373,730**<br>Balance at<br>1 April 2019<br>£<br>266,209<br>435,845<br>521,028<br>1,223,082|**Income**<br>**£**<br>**-**<br>**2,594,726**<br>**341,874**<br>**2,936,600**<br>As restated<br>Income<br>£<br>-<br>2,366,238<br>321,494<br>2,687,732|**Expenditure**<br>**£**<br>**-**<br>**(2,415,181)**<br>**(254,659)**<br>**(2,669,840)**<br>Expenditure<br>£<br>-<br>(2,189,018)<br>(326,051)<br>(2,515,069)|**Taxation**<br>**£**<br>**-**<br>**(8,209)**<br>**-**<br>**(8,209)**<br>Taxation<br>£<br>-<br>(2,755)<br>-<br>(2,755)|**Transfers**<br>**in/out**<br>**£**<br>**-**<br>**20,131**<br>**(20,131)**<br>**-**<br>Transfers<br>in/out<br>£<br>(16,000)<br>(3,283)<br>19,283<br>-|**Gains/**<br>**(Losses)**<br>**£**<br>**-**<br>**32,820**<br>**-**<br>**32,820**<br>Gains/<br>(Losses)<br>£<br>-<br>(19,260)<br>-<br>(19,260)|**Balance at**<br>**31 March**<br>**2021**<br>**£**<br>**250,209**<br>**812,054**<br>**602,838**|
|---|---|---|---|---|---|---|---|
||||||||**1,665,101**|
||||||||Balance at<br>31 March<br>2020<br>£<br>250,209<br>587,767<br>535,754|
||||||||1,373,730|



Page 37 



**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **21. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR** 

|**Unrestricted**<br>**funds**<br>**2021**<br>**£**<br>Tangible fixed assets<br>8,642<br>Fixed asset investments<br>183,016<br>Current assets<br>1,205,558<br>Creditors due within one year<br>(334,952)<br>Difference<br>(1)<br>**TOTAL**<br>1,062,263<br>**ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**<br>Unrestricted<br>funds<br>2020<br>£<br>Tangible fixed assets<br>5,786<br>Fixed asset investments<br>150,505<br>Current assets<br>1,029,638<br>Creditors due within one year<br>(347,953)<br>**TOTAL**<br>837,976|**Restricted**<br>**funds**<br>**2021**<br>**£**<br>451,155<br>-<br>151,683<br>-<br>-<br>602,838<br>Restricted<br>funds<br>2020<br>£<br>467,618<br>-<br>68,136<br>-<br>535,754|**Total**<br>**funds**<br>**2021**<br>**£**<br>**459,797**<br>**183,016**<br>**1,357,241**<br>**(334,952)**<br>**1**<br>**1,665,101**<br>Total<br>funds<br>2020<br>£<br>473,404<br>150,505<br>1,097,774<br>(347,953)<br>1,373,730|
|---|---|---|
|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Creditors due within one year<br>**TOTAL**|||



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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

|**22.**<br>**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW**<br>**ACTIVITIES**<br>Net income for the year (as per Statement of Financial Activities)<br>**ADJUSTMENTS FOR:**<br>Depreciation charges<br>Losses/ (Gains) on investments<br>Interest receivable<br>Decrease/(increase) in debtors<br>Increase/(decrease) in creditors<br>Tax charge<br>**NET CASH PROVIDED BY OPERATING ACTIVITIES**<br>**23.**<br>**ANALYSIS OF CASH AND CASH EQUIVALENTS**<br>Cash in hand<br>**TOTAL CASH AND CASH EQUIVALENTS**<br>**24.**<br>**ANALYSIS OF CHANGES IN NET DEBT**<br>**At 1 April**<br>**2020**<br>**£**<br>Cash at bank and in hand<br>**494,342**<br>Liquid investments<br>**185,939**<br>**680,281**|**FROM OPERATING**<br>**Group**<br>Group<br>As restated<br>**2021**<br>2020<br>**£**<br>£<br>**291,371**<br>150,648<br>**17,176**<br>19,770<br>**(32,820)**<br>19,260<br>**(9,198)**<br>(3,006)<br>**82,660**<br>(135,733)<br>**(11,811)**<br>85,924<br>**8,209**<br>2,755<br>**345,587**<br>139,618<br>**Group**<br>Group<br>**2021**<br>2020<br>**£**<br>£<br>**833,914**<br>494,342<br>**833,914**<br>494,342<br>**Cash flows**<br>**At 31 March**<br>**2021**<br>**£**<br>**£**<br>**339,572**<br>**833,914**<br>**2,564**<br>**188,503**<br>**342,136**<br>**1,022,417**|
|---|---|



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**CORNWALL COMMUNITY DEVELOPMENT LIMITED (A COMPANY LIMITED BY GUARANTEE)** 

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

## **25. PENSION COMMITMENTS** 

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund which amounted to £31,353 (2020 - £34,093) for the year. No amounts were payable to the fund at the balance sheet date. 

## **26. OPERATING LEASE COMMITMENTS** 

At 31 March 2021 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows: 

|Not later than 1 year<br>Later than 1 year and not later than 5 years|**Group**<br>**2021**<br>**£**<br>**42,410**<br>**60,628**<br>**103,038**|Group<br>2020<br>£<br>27,541<br>84,788<br>112,329|**Charity**<br>**2021**<br>**£**<br>**42,410**<br>**60,628**<br>**103,038**|Charity<br>2020<br>£<br>27,541<br>84,788|
|---|---|---|---|---|
||||||
|||||112,329|



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