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2021-12-31-accounts

Cornwall Neighbourhoods for Change Limited (A Company Llmited by Guarantee) Independent Auditorfs Report Forthe Year Ended 31 De￿mber 2021 We abo communicate relevant identified laws and regulations and potential fraud risk to all engagement team members and remain alert to any indications of fraud or non-compliance wrth laws and regulations throughout the audit. Because of the inherent limitations of an audlt. there is a risk that we will not detert all irregularities, including those leading to a material misstatement in the finanaal statements or non-compliance with regulation. Thls risk Sncreases the more that COTnpliance wwth a law or regulation is removed from the events and tran5attions reflerted in the f1nancial statements, a5 we will be less likely to become aware of instances of non-compliance. The risk 15 also greater ￿gardIng irregularities occurring due to fraud rather than error, as fraud inVo￿e$ intentional concealment, forgery. colluston. omission or misrepresentation. A further description of our responsibilities for the audtrt of the financial statements is k)cated on the Financial Reporting Council's webstte 3t- https'.Ilwww.frc.org.uVOur-WorVAudit/Audit-and-assurance/Standards-an guidance/Standards-and-guidance-for-audttorslAudttors-responsibiltties-for-auditlDescription-of-auditors- responsSbilities-for-audit.aspx. This description forms part of oui au(litor's report. Use of our report This report is made solefy to the charitable company'5 members, a5 8 boty, in accordance with Chapter 3 of Part 16 of the Companies Act 2CK16. Our audit work has been undertaken so that we might state to the charitable company's members those rnatters 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 responsibilty to anyone other than the charitable company and the charitable companvs members as a body, for our audit work, for this report, or for the oplnions we have fomied. -L LLP Mark Wlllams FCA DChA Isenlor StatutoryAudltor) for and on behalf of RRL LLP Chartered Accountants Statutory Auditor Peat House Newham Road TRURO Cornwall TRI 2DP 27 June 2022 17

orthe Year Ended 31December 2021
Unrestricted Rest;ricted
Notes Funds Funds 2021 2020
E f f
Income
Volunta ry income 350,988 10,600 361,588 38,334
Income from charitable
activities 267,770 1,242,019 1,509,789 1,032,624
Investment
income		 2,537 2,537 60,825
Total income 621,295 1,252,619 1,873,914 1,131,783
Expenditure
on:
Charitable
activities		 305,290 1,284,342 1,589,632 1,075,134
Total expenditure 305,290 1,284,342 1,589,632 1,075,134
Net income/(expenditure)
before transfers 316,005 (31,723) 284,282 56,649
Gross transfers
between
funds		 (21,664) 21,664
Net movement
in funds		 294,341 (10,059) 284,282 56,649
Total funds brought
forward 113,673 271,959 385,632 328,983
Total funds carried forward 408,014 261,900 669,914 385,632
A Company
Limited
alance Sheet
s at31December		 by Guara
2021		 ntee)
Company registration number: 04228103
Notes 2021 2020
f.
Fixed Assets
Tangible assets 10 422,000 424,761
Investment
property		 11 104,000 104,000
526,000 528,761
Current assets
Debtors 12 308,666 242,127
Cash in bank and in hand 211,926 164,429
520,592 406,556
Creditors: amounts
within one year		 falling due (96,053) (237,177)
Net current assets 424,539 169,379
Total assets less current liabilities 950,539 698,140
Creditors: amounts
more than one year		 falling due after (280,625) (312,508)
Total net assets 669,914 385,632
Charity funds:
Unrestricted
funds		 16
—Designated
funds		 344,667
-General fund 63,347
408,014 113,673
Restricted
funds		 17 261,900 271,959
Total charity funds 18 669,914 385,632
2021 2020
Notes f E
Cash generated
by operating
activities		 22 76,843 59,170
Cash flows from investing activities
Purchase oftangible
fixed		 assets (3,330)
Investment
income		 2,537 60,825
Cash flows from financing activities
Repayment
of borrowings		 (31,883) (12,197)
Increase
in cash and cash		 equivalents 47,497 104,468
Cash and cash equivalents at the beginning of the 164,429 59,961
year
Total cash and cash equivalents at the end ofthe
year 211,926 164,429

.
Inco		 me from i nvestments
Unrestricted Restricted Total
Funds Funds 2021 2020
f f f f
Investment property income 2,530 2,530 60,769
Bank interest 7 7 56
Incoming Resources from investments: 2,537 2,537 60,825

5.
Expenditure
on		 charitable charitable activities
Activity Direct Costs Support 2021 2020
Costs
Arnold
Clark Foundation		 30 30
Communities
Working		 Together 47,004 8,103 55,107
Compass 7,887 1,470 9,357
COMF Funding 78,443 80 78,523
Cornwall
College Partnership		 50,641
Food for Change 93,876
Foundation
for Work		 25,541 5,134 30,675
In Work Poverty 86,108 12,650 98,758
Learning
Partnership		 AS.M 84,979
Pluss Building Better
Opportunities
C2C		 198,929 24,943 223,872 179,137
Pluss Building Better
Opportunities
SE		 200,705 21,571 222,276 171,656
Residents
Resource		 12,536 66,393 78,929 75,675
Sma rtline 1,652 63 1,715
St Austell
Premises		 7,147 7,147 26,357
Support for Christmas Activities 1,389 1,389 1,909
TCCG (Cornwall
College)		 54,869 5,957 60,826
Time to Move 1,526 1,526
University
of Plymouth		 -Widening
Participation 15,867
Volunteer
Cornwa
II Social
Prescribing 49,241 7,469 56,710 33,206
Volunteer
Cornwa
II Social
Prescribing
2		 164,285 20,650 184,935 44,403
YTKO Engine Room 101,043 13,609 114,652 106,887
4 Work 40,097 5,676 45,773 53,054
Cornwall
Community-led		 Local
Development 3,599 3,599 384
ERASMUS 1,118 1,118 1,864
Reaching Communities 34,607 1,729 36,336 50,282
V Learning
Net		 115,627 13,009 128,636 78,642
V Learning 19+ 4,808 4,808
MAGA Food Provision 16,055 1,506 17,561 3,715
Walking into Winter 7,168 104 7.272 2,600
Widening
Participation		 99,886 13,262 113,148
Wild 2,011 356 2,367
Why Don't You Club 2,587 2,587
Resources expended
activities		 on charitable 224,852 1,589,632 1,075,134

Direct
Costs		 Support
Costs		 Total 2021 2020
f f f
Staff costs and other related expenditure 1,024,673 81,627 1,106,300 825,442
Beneficiary S.other project costs 49,877 2,710 52,587 47,574
Contracted
services		 115,991 5,822 121,813 51,920
Office costs 45,306 88,177 133,483 116,220
Marketing
and communications		 3,371 10,448 13,819 306
Bank charges 231 231 134
Loan and overdraft interest 10,673 10,673 14,147.
Sundry costs 2,861 2,413 5,274 48
Bad debts 111,130 14,515 125,645
Depreciation 898 1,863 2,761 2,198
Governance costs:
Staff costs 4,935 4,935 4,935
Legal 5.professional fees 3,786 3,786 3,457
Auditors'
remuneration		 8,325 8,325 8,753
Total resources expended 1,364,780 224,852 1,589,632 1,075,134

7.
Net		 income for the year
Total 2021 Total 2020
This is stated after charging:
Operating leases 16,601 20,313
Auditor's remuneration 8,325 8,753

uring the year was 45 (2020:40).These were employed
as follows.
2021 2020
Charitable
activities		 28 26
Project management and administration ofthe charity 14 3
Full time equivalent 42 29
Average staff numbers 45 40
The aggregate payroll costs ofthese persons were
as follows:
2021 2020
f f.
Wages and sa laries 961,404 737,832
Social security costs 74,329 54,454
Other pension costs (note 9) 27,096 21,563
1,062,829 813,849

10.
Tangible fixed assets
Freehold Furniture and Motor
Premises
f		 equipment
f		 vehicles Total
f
Cost
At 1January 2021 416,000 191,315 10,780 618,095
Additions
At 31December 2021 416,000 191,315 10,780 618,095
Depreciation
At 1January 2021 190,626 2,708 193,334
Charge for year 67 2,694 2,761
At 31December 2021 190,693 5,402 196,095
Net book value
At 31December 2021 416,000 622 5,378 422,000
At 31December 2020 416,000 689 8,072 424,761

11.
Investment
property
2021 2020
f f
Valuation
as at 1January 2021		 104,000 104,000
Revaluation
Valuation
as at 31December 2021		 104,000 104,000
12.
Debtors
2021 2020
f f
Trade debtors 266,431 218,347
Prepayments 10,521 12,513
Sundry debtors 31,714 11,267
308,666 242,127
13.
Creditors: Amounts		 falling due within one year
2021 2020
f f
Bank loans (note 14) 20,371 8,859
Trade creditors 19,655 12,678
Other taxes and social security 21,922 30,238
Other creditors 11,956 17,252
Accrua ls 22,149 40,417
Deferred income (note 15) 127,733
96,053 237,177
14.
Creditors: Amounts		 falling due after more than one year
2021 2020
f f
Bank loan (falling due in less than five years) 81,484 35,436
Bank loan (falling due after five years) 99,141 177,072
Cornwall Council loan (falling due in less than five
years) 100,000 100,000
280,625 312,508
The bank loan is repayable over 25 years. The rate of interest payable on the loan is 2% above Base Ra
subject to a minimum
rate		 of4%. The bank loan off200,996(2020:f221,367) is secured over The Elms.
Pluss Projects
Building
Better Opportunities
Loan - Support		 for the long term unemployed to improv
employabili ty,
health and		 wellbeing and personal development
15.
Deferred income
2021 2020
f f
Deferred income is included
within:
Creditors due within one year 127,733
Deferred income at 1January 2021 127,733 9,850
Released from previous years (127,733) (9,850)
Amounts deferred
in the		 year 127,733
Deferred income at 31December 2021 127,733

At 31
16. Unrestricted funds At 1 January December
2021
f		 Incoming
f		 Outgoing
f		 Transfer
f		 2021
f
Designated
funds:
Capital Reserve 8,761 (2,761) 6,000
COMF Funding (3,683) 230,000 226,317
The Elms- ERDF 91,979 20,371 112,350
100,740 (3,683) 250,371 344,667
General fund 12,933 621,295 (301,607) (272,035) 63,347
113,673 621,295 (305,290) (21,664) 408,014
Unrestricted
funds
Project Purpose
Capital reserve NBV offurniture 5 equipment and motor vehicles
COMF Funding Cornwall Council grant for COVID recovery —designated
by CN4C
The Elms —ERDF Support towards the development of a community and social enterprise
hub in Redruth

At 1January At 31
2020 Incoming Outgoing Transfer December
2020
Designated funds:
Capital reserve 7,629 1,132 8,761
Cornwall College Partnership 59,678 (50,641) (9,037)
Support for Christmas Activities 1,909 (1,909)
Residents Resource 71,537 (75,675) 4,138
St Austell Premises 28,615 (26,357) (2,258)
The Elms —ERDF 79,782 12,197 91,979
V Learning Net 103,473 (78,642) (24,831)
87,411 265,212 (233,224) (18,659) 100,740
General fund 8,173 4,760 12,933
95,584 265,212 (233,224) (13,899) 113,673

or the Year Ended 31D
7.
Restricted funds		 ecember 2 021
At 1 At 31
January Incoming Outgoing Transfer December
2021 2021
Arts Council 24,172 24,172
Clothworkers 4,403 4,403
Elms - SWRDA 135,180 135,180
Communities
Working Together		 41,453 (55,107) 13,654
Compass 9,697 (9,357) 340
Foundation
for Work		 28,980 (30,675) 1,695
In Work Poverty 50,896 (98,758) 47,862
NHG 907 907
Pluss Building Better
Opportunities
C2C		 7,891 211,595 (223,872) 4,386
Pluss Building Better
Opportunities
SE		 3,512 209,826 (222,276) 8,938
Social Enterprise
Investment
Fund (SEIF) 42,899 42,899
Volunteer
Cornwall —Social
Prescribing 81,460 (56,710) (24,750)
Volunteer
Cornwa
I I —Social
Prescribing
2		 30,243 193,067 (184,935) (38,375)
TCCG (Cornwall
College)		 61,498 (60,826) 672
YTKO Engine Room 108,335 (114,652) 6,317
4Work 90,739 (45,773) 44,966
Cornwa
II Community-led		 Loca I
Development 3,599 (3,599)
ERASMUS 1,118 (1,118)
Reaching Communities 21,634 14,696 (36,336) 6
MAGA Food Provision 16,156 (17,561) 1,405
Walking
into Winter		 7,400 (7,272) 128
Wild 10,600 (2,367) 8,233
Widening
Participation		 112,622 (113,148) 526
271,959 1,252,619 (1,284,342) 21,664 261,900

Prior year restricted fun ds
At 1 At 31
January Incoming Outgoing Transfer December
2020 2020
Arts Council 24,172 24,172
Clothworkers 4,403 4,403
Elms - SWRDA 135,180 135,180
Cornwa
II Community
Foundation 4,927 (4,927)
Cornwall
Food Foundation-
Food for Change 79,449 (88,949) 9,500
Learning
Partnership		 ASM 85,590 (84,979) (611)
NHG 907 907
Pluss Building Better
Opportunities
C2C		 187,028 (179,137) 7,891
Pluss Building Better
Opportunities
SE		 4,204 170,964 (171,656) 3,512
Social Enterprise
Investment
Fund 42,899 42,899
Volunteer
Cornwall —Social
Prescribing 31,454 (33,206) 1,752
Volunteer
Cornwall —Social
Prescribing
2		 74,646 (44,403) 30,243
University
of Plymouth-
Widening
Participation		 15,750 (15,867) 1179
YTKO Engine Room 102,916 (106,887) 3,971
4 Work 51,299 (53,054) 1,755
Cornwall
Community-led		 Local
Development (291) (384) 675
ERASMUS 2,982 (1,864) 1,118
Reaching Communities 21,634 50,282 (50,282) 21,634
MAGA Food Provision 6,975 (3,715) (3,260)
Walking into Winter 2,600 (2,600)
233,399 866,571 (841,910) 13,899 271,959

2021 Unrestricted Restricted Total
f f
Tangible fixed assets 215,346 206,654 422,000
Investment
property		 104,000 104,000
Net current assets 369,293 55,246 424,539
Creditors: Amounts falling due after more than one year (280,625) (280,625)
408,014 261,900 669,914
2020 Unrestricted Restricted Total
f f f
Tangible fixed assets 218,107 206,654 424,761
Investment
property		 104,000 104,000
Net current assets 104,074 65,305 169,379
Creditors: Amounts falling due after more than one year (312,508) (312,508)
113,673 271,959 385,632
Land & Land & Other Other
buildings buildings
2021 2020 2021 2020
f f f f
Operating leases which expire:
Within one year 2,080 8,320 8,281 8,281
In second to fifth years inclusive 2,080 13,112 21,393
2,080 10,400 21,393 29,674
mounts contracted for but not provided in the financial statements:
2021 2020
f f
Acquisition oftangible fixed assets 230,000
230,000

2021 2020
f f
Net movement
in funds		 284,282 56,649
Deduct investment income (2,537) (60,825)
(Increase)
in debtors		 (66,539) (83,507)
(Decrease)/Increase in creditors (141,124) 144,655
Depreciation
charge		 2,761 2,198
Net cash generated by operating activities 76,843 59,170