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2022-03-31-accounts

Charity registration number 1094699

Company registration number 04488714 (England and Wales)

CRAWLEY COMMUNITY ACTION LTD

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

CRAWLEY COMMUNITY ACTION LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Sue Bloom (Chair) (Appointed 02/10/2013)
Ashwin Soni (Finance Director) (Appointed 10/10/2019)
Jeremy Yeats-Edwards (Vice-Chair) (Appointed 05/10/2009)
Paul Castle (Company Secretary) (Appointed 03/10/2011)
Chris Cheshire DL (Appointed 17/09/2004)
Dr Iyadh Daoud (Appointed 19/09/2003)
Vivienne Gray (Appointed 02/10/2013)
Marilyn Le Feuvre (Appointed 10/10/2018)
David Murphy (Appointed 17/07/2002)
Peter Mansfield-Clark (Appointed 20 January 2022)
Chief Executive Toby Shaw (Appointed 01.04.2022)
Secretary Paul Castle
Charity number 1094699
Company number 04488714
Registered office The Orchard
1-2 Gleneagles Court
Brighton Road
Crawley
West Sussex
RH10 6AD
Independent examiner Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
1-7 Station Road
Crawley
West Sussex
RH10 1HT
Bankers Royal Bank of Scotland
Drummond House (F) Branch
Customer Service Centre
1 Redheughs Avenue
Edinburgh
EH12 9JN

CRAWLEY COMMUNITY ACTION LTD

CONTENTS

Page
Trustees' report 1 - 8
Independent examiner's report 9
Statement of financial activities 10 - 11
Balance sheet 12
Notes to the financial statements 13 - 25

CRAWLEY COMMUNITY ACTION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2022

Trustees Report and Accounts

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "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 2019).

After obtaining the approval of the Charity Commission, the business, assets and funds of the charity, Crawley Council for Voluntary Service registered with the Charity Commission (number 227757), were transferred to a company limited by guarantee with the same name. The charitable company was incorporated on 17 July 2002 with registered number 4488714, and was registered on 21 November 2002 with Charity Commission number 1094699.

Objectives and activities of the charity

At the Special General Meeting held on 9 March 2015, the members adopted a new governing document in the form of a new Memorandum and Articles of Association. The new Memorandum and Articles of Association is based on a National Association for Voluntary and Community Action (NAVCA) model document, approved by the Charity Commission. Under the new Memorandum and Articles of Association, the objects of the charity Crawley Community & Voluntary Service are:

The new governing document re-defined membership to include all charities, voluntary organisations and social enterprises accessing any support or service provided by Crawley Community & Voluntary Service, enabling them to have a say in the management and running of the organisation as a member. From April 2015 membership does not require payment of a subscription, and annual membership is by application form.

Public Benefit statement

The requirements for reporting public benefit in an annual report are that the report will contain:

i) a report of those activities undertaken by a charity to further its charitable activities for the public benefit, and ii) a statement by the charity trustees that they have due regard to public benefit guidance published by the Charity Commission.

The guidance sets out two key principles which need to be met in order to show that an organisation’s aims are for the public benefit;

i) there must be an identifiable benefit or benefits, i.e. the “benefit” principle, and ii) the benefit must be to the public or a section of the public, the “public” principle.

The trustees refer to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing the aims and objectives of, and in planning, activities. The trustees endorse these key principles of public benefit, and reflect them into the aims and objectives of the activities they have set. Crawley Community Action typically delivers on these objectives through delivering on the National Association for Voluntary and Community Action (NAVCA) standards.

The nature of the activities carried out by Crawley Community Action are detailed in the narrative of Achievements and Performance in the year in the Trustees’ Report, and in other literature and newspaper articles, and on Facebook, Twitter and the website. By means of these narratives and publicity, the trustees show that the activities undertaken by Crawley Community Action to further its charitable activities are, and are duly reported as being, for the public benefit.

page 1

CRAWLEY COMMUNITY ACTION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and performance

Supporting the Community and Voluntary Sector

During the past year, the group development service has focused on supporting the multiple needs of new, emerging, small and vulnerable community groups, charities and social enterprises, helping them to recover from the profound impact of the pandemic. We have been particularly grateful to Sussex Community Foundation for their financial support and belief during this period which helped to sustain our group development offer to the local Voluntary, Community and Social Enterprise (VCSE) sector.

This support had two principal delivery strands:

1. Capacity and capability building support

Providing in-depth guidance and support to the management committees of ethnically diverse groups to improve and encourage best practice around essential legal and governance issues, project plans, financial management, impact assessment and accessing appropriate funding opportunities. In addition, the service helped to build resilience, improve profile and awareness of impact, increase understanding of the importance of accountability and enable groups to confidently meet future challenges.

2. Improving access to services and partnership working opportunities

Encouraging improved communication, mutual understanding, and joint working between ethnically diverse and marginalised communities and local service providers as a means of addressing barriers to accessing services and activities and improving physical and mental wellbeing. This work has taken place as part of our Living Healthier Lives project, with the support of project funders Heads On: Sussex NHS Foundation Trusts Charity.

The Groups wehave supported The Groups wehave supported The Groups wehave supported
- Moonstones
- Ten Little Toes Baby Bank
- Sussex Aid for Refugees
- Refugees Welcome Crawley
- Autism Support Crawley
- Tangible Hands Foundation
- Crawley Community Garden		 - Uganda Crawley Community Association
- Y:AMHS
- Crawley Free Shop
- Crawley Community Youth Services
- Crawley Rangers JFC
- Crawley Hockey Club
- Crawley Self Defence CIC		 - Crawley Film Initiative CIC
- Footloose Dance Group
- Crawley Gurdwara
- Polish Saturday School
- Pound Hill Pounders Running Club
- Crawley Menshare Listening Group

Trends in group development support

Our regular support sessions, surveys and contact with groups over the past year has highlighted a number of specific and consistent organisational support needs. The ten most common requests have been:

We have been increasingly concerned about the wellbeing of community leaders, in particular how so many have been affected by the pandemic. As well as our direct support, we were pleased to be able to offer a funded package of support for employees and volunteers of local groups through our membership of The West Sussex Voluntary and Community Sector Infrastructure Alliance (WSVCSI).

Additional Income raised by Voluntary, Community and Social Enterprise (VCSE) organisations with CCA Support

Our funding support service helped to secure grants with a value in excess of £85,000 for the local VCSE sector from a range of external funding sources including Sussex Community Foundation, National Lottery Awards for All scheme, Sussex Police, Longley Trust and Crawley Borough Council.

page 2

CRAWLEY COMMUNITY ACTION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Our Impact – What Community Groups say about Crawley Community Action

The service that CCA offer to people like myself, to help us explore and set-up local groups and charities to support our local community is second to none. Each and every member of staff and volunteer all play key roles in making sure that already existing groups and groups of the future have the opportunity to flourish.

Kerry McGarrigle, Chairperson, Moonstones

With CCA support, we have been able to continue our support to the wider Ugandan community throughout lockdown thanks to assistance with funding support and links with local networks, such as the Covid response group for residents. CCA continues to offer the management committee advice and inspiration in helping us take steps to secure charity status, including understanding of governance responsibilities and helping us to review our aims and objectives as an organisation.

Hannington Mutungi, Vice Chairman, Ugandan Community Association

Crawley Volunteers

Despite a reduction in funding for volunteering services, we have continued to support volunteers and the organisation that rely on volunteers in Crawley. We remain committed to the view that Crawley needs a comprehensive volunteer support offer, one which encourages, increases, and celebrates the role of volunteers in our community. We are grateful to the ongoing funding support provided by West Sussex County Council as part of our membership of The West Sussex Voluntary and Community Sector Infrastructure Alliance (WSVCSI). We were also very grateful to have been awarded funding to create a new online volunteering platform for the town. This has brought immediate benefits to Crawley as well as providing the opportunity to work in partnership with other volunteer support organisations.

Despite the challenges, we were able to help many community members to take on new volunteering opportunities. Our new online platform, which has been developed for us by Volunteer Plus, is enabling us to promote more opportunities than ever before. We have supported 152 new volunteers to register with the service and this has resulted in 314 expressions of interest with local groups looking for volunteers. Looking forward we are in discussions with funders to support and expand this area of our work.

Some of the organisations we are supporting to find new volunteers

West Sussex Community Transport Cancer Research UK Citizens Advice British Red Cross Scouts Rivers Learning South of England Show Light House Murmurations The National Trust The Life Centre See Ability

Key performance Indicators

As well as helping people to find new volunteering opportunities, we have continued to provide advice and guidance to community groups on volunteering best practice. This has included supporting groups to develop appropriate policies, as well as addressing organisation specific issues. For instance, how groups respond when there are serious concerns relating to volunteers or service delivery.

Our Impact – What Community Groups say about Crawley Community Action

The support system CCA give to organisations in terms of sustainability, partnership working and future growth development is extremely vital. Without them many organisations would not form nor have the capability to find ways to continue striving towards helping the local communities in Crawley.

Maha Laqa Zafar, Trustee, Gems of Faith

page 3

CRAWLEY COMMUNITY ACTION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Crawley Social Prescribing

Crawley Social Prescribing (CSP) is funded by the Clinical Commissioning Group (CCG) to provide a Social Prescribing service to Crawley residents. The majority of our referrals come from GP surgeries, either via the GPs/practice staff or via the Primary Care Network (PCN) based Social Prescribers. Social Prescribing was originally set up as a way of reducing social isolation and loneliness by offering practical, non-medical support. Focusing on what matters to the patient (client). Our link workers work alongside our clients to create a personal support plan, which includes referrals to organisations, services, (statutory and voluntary sector) and activities that may support a person’s needs.

Performance during the year

CSP received a total of 637 referrals, bringing the total to 1054 referrals since the project came into existence in September 2020. Since the pandemic began, the referrals have become increasingly complex and require support for many months. 34% of our clients are supported for between 1-3 months, but over 2% of our clients have required support for more than 12 months. Increasing workforce numbers of Social Prescribing Link Workers (SPLWs) within the PCNs has had an effect on the number of referrals but with the increasing targets for referrals expected by the PCNs, there is now a more even spread of referrals now from all PCNs.

Impact on People’s Mental Wellbeing

The Short Warwick-Edinburgh Mental Wellbeing Scale questions are asked of each client at the beginning and the end of our intervention. This provides a good indication of the effect that the intervention has made to the client. We see improvements in many people's mental wellbeing as they engage with our social prescribing service. While this is heartening, we know that the determinants of mental wellbeing are complex and despite proving a high-quality service, we know that some clients will continue to experience a range of challenges with their mental wellbeing.

Our Impact - What our clients say about Crawley Social Prescribing

“An amazing service if you don't know who to ask. They will help you find a service, if you are struggling, this can really help. They also checked up to see if I had what I needed.” (CSP Client)

“You caught me at the right moment when I was feeling down and needed support. You have really helped me move forward.” (CSP Client)

National Academy for Social Prescribing

Thriving Community Programme

Crawley Community Action hosts the South East Thriving Communities Programme

Thriving Communities is the national support programme initiated by the National Academy for Social Prescribing in response to the impact and challenges caused by the COVID-19 pandemic. It’s aimed at helping voluntary, community, faith and social enterprise organisations share learning, ideas and best practice. By developing partnerships and fostering new connections we hope to create a stronger voluntary and community sector for social prescribing to take root and communities to thrive.

The Thriving Communities programme is regional covering Kent, Surrey, Sussex, Buckinghamshire, Berkshire, Oxfordshire, Hampshire and the Isle of Wight.

The South East Regional Lead for Thriving Communities is Esther Watts. Esther and the team work with organisations delivering social prescribing in their local communities and the local voluntary and community sector organisations providing the activity which social prescribers need to refer to, as well as listening to the needs of link workers and strategic partners.

The programme lead has created links with social prescribing host organisations from the NHS and the voluntary and community sector, is in touch with networks of social prescribers and the local authority and NHS system leads who support social prescribing across the patch.

page 4

CRAWLEY COMMUNITY ACTION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Delivery Partners

Learning Together Programme 2021-22

The programme supports voluntary and community sector and faith organisations from a range of sectors through a 6-month learning programme called Learning Together.

Learning Together is a series of webinars and meetings with information about social prescribing, what it is and how it works and how to get involved. There are thematic webinars and networking meetings. We offer optional development opportunities and training, group coaching and Action Learning Sets as part of the programme.

Key performance Indicators

Engagement Across the South East Region

Learning Together Programme has engaged with groups from right across the South East of England. This has included participants from Sussex, Surrey, Hampshire, Oxfordshire, Buckinghamshire,Berkshire and Kent.

Our Impact – What Course participants said about Learning Together

Both me and my partner in the breakout said we felt we had learnt loads. Thank you! E.g Promoting who we are so link workers are fully versed in what we can offer and to who. Linking with other groups through this meeting has been helpful. Helped focus on what we need to do next

Course Participant

The thing that I have most benefitted from in this programme is the action learning set. 3 of us joined about 18 months ago, I think - maybe longer. We had 4 sessions very sensitively facilitated .. We are still going strong, with monthly 90-minute sessions on Zoom. Thank you so much for this opportunity!

Course Participant

Thank You

The trustees would like to warmly thank CCA staff team without whose professionalism and dedication our services could not be delivered in Crawley. We would like to offer our gratitude towards Daran Bennett who as planned will be stepping down from the role of interim Chief Executive. Daran provided leadership and stability during the year and has worked with the Board to appoint our permanent new Chief Executive Toby Shaw.

One of our longest-serving trustees stepped down this year and we thank her for her efforts. Chris Cheshire DL was appointed a CCA trustee in 2004 and has championed the charity through all her years of service.

We would like to thank West Sussex County Council and Sussex Community Foundation for their ongoing support. We also thank Crawley CCG (NHS Clinical Commissioning Group) for the continued funding of Crawley Social Prescribing.

We are grateful to Crawley Borough Council for working with the charity to provide the Orchard as a hub for the local voluntary and community sector.

During the year we have started to work in partnership with a range of new funders. We would like to express our thanks to all on them, including the Garfield Weston Foundation and the Ernest Kleinwort Charitable Trust and the Postcode Society Trust. We look forward to working with your support for the benefit of Crawley.

page 5

CRAWLEY COMMUNITY ACTION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Financial review

Crawley Community Action embraced the new focus and strategic direction to maintain our core services delivery in the year. This was in line with the planning process developed in response to our client and funders needs.

Unrestricted Income funds in hand at the year-end were £164,821 (2021:£180,207).

Mindful of the obligation for the potential liability for the deficit on the pension scheme, certain sums had been set aside over many years. In the 2018 accounts, a transfer was made to formally set up a Designated Fund out of Unrestricted funds in hand to cover the potential additional amount of £73,000 estimated participating employer’s debt on withdrawal liability for the portion of the pension fund deficit attributed to Crawley Community & Voluntary Service over and above that already provided in the accounts.

Restricted Income funds in hand at the year-end were £60,615 (2021: £3,557). See Note 15 to the accounts for Restricted Income funds tables and the Restricted Income funds operations.

All of the assets of the charity are used to carry out its objectives

Reserves policy

Crawley Community Action Ltd receives funding from different sources to provide services in the promotion of charitable purposes for the benefit of the Crawley community in line with its objects. These funds are normally provided for an agreed period, usually one year. Such funding normally permits underspends to be carried forward flexibly to continue service provision into part of the subsequent year and thus make best use of resources.

The trustees, from long established practice, would expect any intention of these funders to withdraw (or substantially reduce) the level of such annual funding to be the subject of long-term discussions signaled well in advance.

Provided funders gave sufficient notice of intention to make such changes, the trustees would respond to effect any organisational changes required to meet new financial constraints in an ordered manner and in good time, so as to avoid having to take precipitous actions to the detriment of staff, their duties and the services provided to the community.

Nevertheless the trustees believe it is important they hold as financial reserves at all times, the funds necessary to secure the loyalty and continuous employment of trained staff, trusted contacts and relationships with clients and colleagues, and maintenance of facilities and contracted services to ensure an ordered service provision capacity beyond short-term measures. The trustees only wish to have these financial reserves at a minimum level and therefore review the funds required annually.

The reserves policy will fund:

The trustees consider that unrestricted funds levels of between £120,000 - £180,000 is sufficient.

The trustees may at any time create a reserve for any purpose contained in the Business Plan, or as required and approved by the funder, or close out a reserve when no longer required or appropriate. The trustees may create and maintain the reserves aggregated as a pool within general activity income funds, not necessarily wholly specific to general activity such that part may be related and applied in the event ultimately against any Restricted Income fund activity if or as required.

page 6

CRAWLEY COMMUNITY ACTION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Investment policy

The policy is to place the investment of surplus funds in the bank deposit accounts with The Royal Bank of Scotland plc. The policy, in line with the bank changing the range of deposits accounts available, is to continue solely with the operation of a deposit for the portion of funds not envisioned to be needed to be drawn in the shorter term to be placed on deposit with a withdrawal notice period of ninety-five days.

The trustees examine the major strategic, business and operational risks that the charity faces. The trustees confirm that systems are in place and monitored to mitigate those risks. These systems are subjected to regular review, including the updating of insurance cover, staff employment procedures, financial procedures and authorisation processes.

Plans for future periods

During the year, we experienced some of the most significant challenges the charity has ever faced. A large drop in our income, with little notice, necessitated a Herculean effort from Trustees and the staff team to ensure that the charity was able to weather this storm. In rising to this challenge, we have demonstrated the charity is able to respond to the most demanding of situations. We have implemented a new business model, which has seen us develop relationships with new funders and diversify our funding.

We end the year with the charity in a strong position to continue to build on the progress we have made. For over 60 years Crawley Community has been making a positive contribution to our community. We are pleased to remain in a strong position to be planning for our future and responding to the needs of our beneficiaries.

In the coming year we are looking forward to:

Structure, governance and management

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Sue Bloom (Chair) (Appointed 02/10/2013) Ashwin Soni (Finance Director) (Appointed 10/10/2019) Jeremy Yeats-Edwards (Vice-Chair) (Appointed 05/10/2009) Paul Castle (Company Secretary) (Appointed 03/10/2011) Chris Cheshire DL (Appointed 17/09/2004) Dr Iyadh Daoud (Appointed 19/09/2003) Vivienne Gray (Appointed 02/10/2013) Marilyn Le Feuvre (Appointed 10/10/2018) David Murphy (Appointed 17/07/2002) Peter Mansfield-Clark (Appointed 20 January 2022)

The trustees are members of the charitable company. Under the Memorandum and Articles of Association the liability of the members is limited, undertaking to contribute to the assets of the charitable company in the event of a winding up, an amount not exceeding £1.

Trustees are elected by members of the charitable company at a General Meeting.

Not less than three quarters of the board of trustees from time to time shall be, or be elected by, members of the charitable company, i.e. representing an organisation which is a member of the charitable company. The board of trustees may from time to time appoint any person to be a trustee to fill a casual vacancy to hold office until the next Annual General Meeting.

page 7

CRAWLEY COMMUNITY ACTION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The trustees examine the major strategic, business and operational risks that the charity faces. The trustees confirm that systems are in place and monitored to mitigate those risks. These systems are subjected to regular review, including the updating of insurance cover, staff employment procedures, financial procedures and authorisation processes. The principal risks relate to keeping up-to-date with legislation and regulations, and to having robust IT systems and communication, adequate funding, good staffing, and other resources to enhance performance on projects to develop and sustain well-funded services.

New trustees are given an induction pack which contains the Memorandum and Articles of the Association and a copy of the current policies and procedures. This pack is used alongside training given by the experienced members of the board and the Chief Executive.

The trustees' report was approved by the Board of Trustees.

. . _. . :d.�.@o-6'((_ Sue Bloom (Chair) (Appointed 02/10/2013) Trustee

Date: .............................................29/09/2022

page 8

CRAWLEY COMMUNITY ACTION LTD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CRAWLEY COMMUNITY ACTION LTD

I report to the trustees on my examination of the financial statements of Crawley Community Action Ltd (the charitable company) for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

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

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

Dated: .........................13/10/2022

page 9

CRAWLEY COMMUNITY ACTION LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Current financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2022
2022
2022
Notes
£
£
£
Income from:
Donations
3
71,071
-
367,891
Charitable activities
4
112,409
-
-
Investments
5
97
-
-
Total income
183,577
-
367,891
Expenditure on:
Charitable activities
Provision of CCA support
6
197,619
-
301,107
Total charitable expenditure
197,619
-
301,107
Other
10
(13,930)
-
-
Total expenditure
183,689
-
301,107
Net (outgoing)/incoming resources before
transfers
(112)
-
66,784
Gross transfers between funds
(15,274)
25,000
(9,726)
Net (expenditure)/income for the year/
Net movement in funds
(15,386)
25,000
57,058
Fund balances at 1 April 2021
180,207
48,000
3,557
Fund balances at 31 March 2022
164,821
73,000
60,615		 Total
2022
£
438,962
112,409
97
551,468
498,726
498,726
(13,930)
484,796
66,672
-
66,672
231,764
298,436		 Total
2021
£
349,918
95,368
784
446,070
453,880
453,880
(3,197)
450,683
(4,613)
-
(4,613)
236,377
231,764

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

page 10

CRAWLEY COMMUNITY ACTION LTD

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Prior financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2021
2021
2021
Notes
£
£
£
Income from:
Donations
3
158,342
-
191,576
Charitable activities
4
2,785
-
92,583
Investments
5
784
-
-
Total income
161,911
-
284,159
Expenditure on:
Charitable activities
Provision of CCA support
6
164,093
-
289,787
Total charitable expenditure
164,093
-
289,787
Other
10
(3,197)
-
-
Total expenditure
160,896
-
289,787
Net (outgoing)/incoming resources before transfers
1,015
-
(5,628)
Gross transfers between funds
17,152
-
(17,152)
Net (expenditure)/income for the year/
Net movement in funds
18,167
-
(22,780)
Fund balances at 1 April 2020
162,040
48,000
26,337
Fund balances at 31 March 2021
180,207
48,000
3,557		 Total
2021
£
349,918
95,368
784
446,070
453,880
453,880
(3,197)
450,683
(4,613)
-
(4,613)
236,377
231,764

page 11

CRAWLEY COMMUNITY ACTION LTD

BALANCE SHEET

AS AT 31 MARCH 2022

2022 2021
Notes £ £ £ £
Current assets
Debtors II 59,156 72,734
Cash at hank and in hand 430,662 346,976
489,818 419.710
Creditors: amounts falling due within one
year 12 (188,020) (170,654)
Net current assets 30 I, 798 249,056
Provisions for liabilities (3,362) (17,292)
Net assets 298,436 231,764
---
Income funds
Restricted funds IS 60,615 3,557
U nreslricted funds
Designated funds 16 73,000 48,000
General unrestricted funds 164,821 180,207
237,821 228,207
298,436 231,764

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 3 I March 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial slalemcnts for the year in question in accordance with section 476.

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

The linancial stalemenls wen: approved by the Trustees oncii.9 . . (.P. . ':'t./;;l-.0 � ""1._.

AshwTii Sor�i (Finance Director) (Appointed I 0/10/2019) Paul Casile (Company Secretary) (Appointed 03/10/2011) Trustee T,·ustee

Company registration number 04488714

page 12

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Crawley Community Action Ltd is a charitable company limited by guarantee incorporated in England and Wales. The registered office is The Orchard, 1-2 Gleneagles Court, Brighton Road, Crawley, West Sussex, RH10 6AD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "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 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.

The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

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

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The purpose and use of the designated fund is described and set out in the notes to the accounts.

Restricted Income funds are those which are to be used in accordance within the specific restrictions imposed by the grant providers, donors, or other income providers for particular purposes. The purpose and use of the Restricted Income funds is described and set out in the notes to the accounts.

1.4 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Income from charitable activities includes income from grants and contract income, donations, management fees and other income generated to supplement funding towards providing core services, and includes premises management operation income of rent, service charges and other premises activity related income from the hire of the meeting rooms at The Orchard generated to provide services to tenants.

Investment income comprises interest earned on bank deposits.

1.5 Expenditure

Liabilities and related expenditure are recognised in full in the accounts as soon as the obligation arises. All expenditure is accounted for on an accruals basis and includes attributable Value Added Tax (VAT) which cannot be recovered. Charitable activities are all the resources expended by the charitable company in undertaking its work to meet its charitable objectives.

page 13

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Fixed assets such as computer and office equipment are capitalised if the purchase cost exceeds £10,000.

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

Office equipment 1-2 years Straight Line

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

The purchase of minor items of computer and office equipment, and accounting software is not capitalised as tangible fixed assets but written off to the income and expenditure account in the year of purchase on the basis that they retain little value.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.8 Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.9 Taxation

The charitable company is a registered charity, and is exempt from corporation tax on its income applied for charitable purposes.

1.10 Provisions

Provisions are recognised when the charitable company has a legal or constructive present obligation as a result of a past event, it is probable that the charitable company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.11 Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

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

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

page 14

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.12 Retirement benefits

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

The scheme is a multi-employer scheme where the scheme is currently in deficit, and since the charitable company has agreed to a deficit funding arrangement, the charitable company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. Further details are given in the notes to the accounts.

1.13 Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

1.14 Creditors

Creditors are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

2 Critical accounting estimates and judgements

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

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

Deferred income

Grant or contract income is deferred where the income is in respect of a future accounting period.

Pension liability

A provision is made for a potential pension funding shortfall in the accounts. The provision is based on an estimated shortfall figure provided by the scheme actuary.

3 Donations

Unrestricted
Restricted
funds
funds
general
2022
2022
£
£
Donations
-
-
Grants and contract income
receivable for core activities
71,071
367,891
71,071
367,891		 Total
Unrestricted
Restricted
funds
funds
general
2022
2021
2021
£
£
£
-
1,422
-
438,962
156,920
191,576
438,962
158,342
191,576		 Total
2021
£
1,422
348,496
349,918

page 15

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Provision of
Provision of
CCA support CCA support
2022 2021
£ £
Sales within charitable activities 73,696 69,379
Charitable rental income 37,725 23,571
Other income 988 2,418
112,409 95,368
Analysis by fund
Unrestricted funds - general 112,409 2,785
Restricted funds - 92,583

5 Investments

Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Interest receivable 97 784

page 16

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

6 Charitable activities

Provision of
Provision of
CCA support CCA support
2022 2021
£ £
Staff costs 322,882 341,992
Staff/Volunteer travelling 327 399
Staff training 180 100
Fundraising costs 5,825 -
Recruitment advertising 348 5,255
Project fees 63,996 25,602
Marketing costs 5,447 -
Rent 2,894 -
401,899 373,348
Share of support costs (see note 7) 91,857 75,751
Share of governance costs (see note 7) 4,970 4,781
498,726 453,880
Analysis by fund
Unrestricted funds - general 197,619 164,093
Restricted funds 301,107 289,787
498,726 453,880

page 17

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

7 Support costs

Support costs
Governance
costs
£
£
Service and water charges
5,786
-
Insurance
4,513
-
Light and heat
12,402
-
Maintenance and other
premises costs
16,185
-
Office equipment
8,275
-
Printing, postage and
stationery
6,708
-
Telephone
12,209
-
Subscriptions
1,416
-
Consultancy fees and
software
22,667
-
General expenses
1,696
-
Independent examination
fees
-
3,000
Legal and professional
-
1,970
91,857
4,970
Analysed between
Charitable activities
91,857
4,970		 2022
Support costs
Governance
costs
£
£
£
5,786
919
-
4,513
4,377
-
12,402
11,413
-
16,185
13,349
-
8,275
17,663
-
6,708
6,277
-
12,209
12,966
-
1,416
1,914
-
22,667
6,469
-
1,696
404
-
3,000
-
2,820
1,970
-
1,961
96,827
75,751
4,781
96,827
75,751
4,781		 2021
£
919
4,377
11,413
13,349
17,663
6,277
12,966
1,914
6,469
404
2,820
1,961
80,532
80,532

Governance costs includes payments to the Independent Examiner of £3,000 (2021- £2,820) for the independent examination.

8 Trustees

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

Trustees' expenses

There were a total of £803 expenses paid to trustees in the year ended 31 March 2022. There were no trustees' expenses paid in the year ended 31 March 2021.

9 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Core service 4 5
Premises management 1 3
Social prescribing 5 5
Total 10 13

page 18

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

9
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2022
2021
£
£
278,470
298,936
24,778
25,634
19,634
17,422
322,882
341,992		 (Continued)
2022
2021
£
£
278,470
298,936
24,778
25,634
19,634
17,422
322,882
341,992
341,992

Key Management Personnel

1 member of staff was deemed to be key management personnel. The total employment benefits of key management personnel were £40,209 (2021 - £Nil).

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

10 Other

Unrestricted Unrestricted
funds funds
general general
2022 2021
Pension provision credit (13,930) (3,197)
(13,930) (3,197)
Debtors
2022 2021
Amounts falling due within one year: £ £
Trade debtors 56,357 54,967
Other debtors 2,799 17,767
59,156 72,734
Creditors: amounts falling due within one year
2022 2021
Notes £ £
Deferred income 14 103,234 128,497
Trade creditors 78,817 25,534
Other creditors 3,149 4,186
Accruals 2,820 12,437
188,020 170,654

11 Debtors

12 Creditors: amounts falling due within one year

page 19

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

Provisions for liabilities
Pension provision
Movements on provisions:
At 1 April 2021
Utilisation of provision
Unwinding of discount
Adjustment for change in discount rate
At 31 March 2022
14
Deferred income
Arising from Deferred income		 2022
2021
£
£
3,362
17,292
Pension
provision
£
17,292
(4,376)
100
(9,654)
3,362
2022
2021
£
£
103,234
128,497

page 20

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 April 2021
£
Premises fund
3,557
Horsham Advice Work
-
Thriving communities
-
Social Prescribing
-
SCF
-
Living Healthier Lives
-
3,557
Balance at
1 April 2020
£
Premises fund
17,598
Community training
1,209
Young Crawley Family Credits
-
Prescription Plus - pilot
-
Prescription Plus - CCG
2,545
CREW project
4,984
Horsham Advice Work
-
Thriving communities
-
26,337		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
-
50,400
(47,231)
117,328
(74,404)
155,536
(138,866)
20,000
(20,000)
24,627
(20,606)
367,891
(301,107)
Movement in funds
Incoming
resources
Resources
expended
£
£
92,582
(92,003)
-
-
-
(7,690)
104,215
(102,715)
78,478
(79,595)
-
(2,288)
21,809
(20,640)
22,672
(20,452)
319,756
(325,383)		 Transfers
Balance at
31 March
2022
£
£
(3,557)
-
(3,169)
-
-
42,924
(3,000)
13,671
-
-
-
4,020
(9,726)
60,615
Transfers
Balance at
31 March
2021
£
£
(14,620)
3,557
(1,209)
-
7,690
-
(1,500)
-
(1,428)
-
(2,696)
-
(1,169)
-
(2,220)
-
(17,152)
3,557		 Transfers
Balance at
31 March
2022
£
£
(3,557)
-
(3,169)
-
-
42,924
(3,000)
13,671
-
-
-
4,020
(9,726)
60,615
Transfers
Balance at
31 March
2021
£
£
(14,620)
3,557
(1,209)
-
7,690
-
(1,500)
-
(1,428)
-
(2,696)
-
(1,169)
-
(2,220)
-
(17,152)
3,557
3,557

Restricted income funds - Review of operations

The Premises fund is the departmental operation overseen by a Premises and Reception Officer to run the building at The Orchard with its many charitable sector tenants. All the building running costs are accounted for by Crawley Community & Voluntary Service as lead manager for The Orchard building, to be then recharged to all tenants by way of rent and a variable quarterly service charge. The Premises fund for The Orchard building premises management operation is accounted for within Crawley Community Action as a distinct restricted income fund operation in order to disclose clear accountability to the tenants.

The Premises fund operation has in the past built up a Sinking fund, Contingency fund and Bad debt provision from the operating budget each year to provide for future contingencies and the major costs of the up-keep of the building. The amount of these funds set aside totalled £nil at 31 March 2022.

Over the past years contracts for The Orchard have been reviewed to seek to gain best value for money, and with nearly full occupation of The Orchard, increased meeting room hire income, and income from short-term letting of spare office space, the Premises management operation has been able to maintain a quarterly service charge rate of £12 per square foot to its tenants from March 2019.

page 21

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

15 Restricted funds

(Continued)

CCA continues to see The Orchard building as a key resource for tenants and their operations in Crawley providing wellequipped offices, meeting rooms and facilities.

CCA was granted a lease to the building at The Orchard, 1 & 2 Gleneagles Court, Brighton Road, Crawley in 2006 by Crawley Borough Council to manage the building for several charitable organisations to move in together as tenants to create a successful voluntary sector centre for Crawley.

The Premises and Resources Officer continued with the programme of up-dating the facilities and equipment that the Premises management operation provides with expenditure on improved and other improvements to the facilities within the building for the benefit of tenants and their staff, room hirers and visitors to The Orchard building.

As part of our membership of the West Sussex Infrastructure Alliance, we have continued to contribute to county-wide initiatives and programmes. This has included developing volunteering services and a piece of work to implement a volunteering system that can be better integrated with our partners across the county. As part of our commitment to the Alliance, and in support of our neighbouring areas, we worked in partnership with Horsham Council to provide developmental support to community groups in their district. This work was delivered by a CCA staff member who was embedded within the council’s voluntary sector support service and ensured county-wide infrastructure support was available. Having played an important role in supporting this work, during the year we were pleased to hand it over to a charity based in Horsham as a more appropriate and sustainable way to deliver this service.

In 2020 we received a grant from Sussex Community Foundation to undertake focussed work with groups from minority ethnic communities. Following the decision by the Borough Council to stop core funding for CCA, which included support to local community groups, we sought agreement from the SCF to shift the focus of the funded work. We were very grateful for their flexibility, which enabled us to maintain a broader package of support for the local community. Group development support was made available to minority ethnic groups under our Living Healthier Lives project, which is addressing health inequalities within diverse communities. With these separate strands of work we were able to maintain our group development offer to the local community.

Social Prescribing has been a significant part of our work during the year. This includes our contract with the Clinical Commissioning Group (now Integrated Care Service) to provide social prescribing services to local residents. This work has been undertaken as part of our Crawley Social Prescribing service. We have also delivered other pieces of work as part of our social prescribing services. We have undertaken specialist social prescribing work with people from minority communities, as well as increasing our engagement with those communities to raise awareness of social prescribing. This work has been carried out as part of our Living Healthier Lives Project. We have also been active in leading developments in social prescribing across the South East region. Crawley Community Action hosts the South East Regional Lead for the Thriving Communities Programme, run by the National Academy for Social Prescribing (NASP). This programme’s aim is to support the voluntary and community sector and social enterprises to engage with social prescribing. Part of the Thriving Communities programme involves recruiting voluntary and community sector organisations to the Learning Together programme and offering funding and communication opportunities from NASP partners. This fund is restricted to the work that is being undertaken by NASP and their partners.

page 22

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

16 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in
funds
Balance at
1 April 2020
Incoming
resources
Balance at
1 April 2021
£
£
£
Redundancy provision
8,000
-
8,000
Pension liability provision
40,000
-
40,000
48,000
-
48,000		 Transfers
Balance at
31 March
2022
£
£
-
8,000
25,000
65,000
25,000
73,000

The redundancy provision is the amount set aside by the trustees to establish a fund for future redundancy costs.

The pension liability provision is the amount set aside by the trustees to establish a fund to cover the potential additional amount of estimated participating employer's debt on withdrawal liability for the portion of the pension fund deficit attributed to Crawley Community Action Ltd over and above that already provided in the accounts.

17 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
Restricted
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Current assets/(liabilities)
168,183
73,000
60,615
Provisions
(3,362)
-
-
164,821
73,000
60,615
Unrestricted
funds
Designated
funds
Restricted
funds
2021
2021
2021
£
£
£
Fund balances at 31 March 2020 are represented by:
Current assets/(liabilities)
197,499
48,000
3,557
Provisions
(17,292)
-
-
180,207
48,000
3,557		 Total
2022
£
301,798
(3,362)
298,436
Total
2021
£
249,056
(17,292)
231,764

page 23

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

18 Operating lease commitments

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2022
£
536
-
536		 2021
£
4,555
536
5,091

The charitable company leases one multifunctional photocopier/printer, and a mail franking machine, as facilities for use by tenants and in office administration. There are two operating leases covering these machines, one lease for a period of sixty months which commenced in May 2017 when the previous lease expired, and one lease for a period of seventy five months which commenced in October 2016. Each lease is payable by quarterly instalments.

19 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

20 COVID-19

At the reporting date COVID-19 caused widespread lockdown measures to be imposed in the UK and worldwide. This has resulted in a reduction in both supply and demand in the economy. It is not currently possible to estimate the impact this will have on the future financial results of the charitable company. Management have assessed the impact of COVID19 on the results reported for the financial year ended 31 March 2022 and consider that all COVID-19 related costs and effects have been reflected in the accounts.

page 24

CRAWLEY COMMUNITY ACTION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

21 Pension costs

The company participates in the scheme, a multi-employer scheme which provides benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2014. This valuation showed assets of £793.4m, liabilities of £969.9m and a deficit of £176.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

page 25