Company No. 4668297 ( England & Wales)
Charity Registration Number : 1106479
## **CRICKHOWELL RESOURCE & INFORMATION CENTRE LIMITED**
( A Company Limited by Guarantee )
FINANCIAL STATEMENTS & REPORT
FOR THE YEAR ENDED
31st DECEMBER 2020
## **CRICKHOWELL RESOURCE & INFORMATION CENTRE LIMITED**
The Directors present their report and accounts for the year ending 31[st] December 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity'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 Statndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 Januray 2015)'
## **CHARITY’S OBJECTS**
The Charity’s main objects are to offer training in all matters relating to information technology to support charitable groups in furthering their objectives and to promote rural regeneration locally.
## **REVIEW OF DEVELOPMENTS DURING THE YEAR**
The Directors present their report and accounts for the year ending 31st December 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity'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 Januray 2015)'
## **CHARITY’S OBJECTS**
The Charity’s main objects are to offer training in all matters relating to information technology to support charitable groups in furthering their objectives and to promote rural regeneration locally.
## **REVIEW OF THE YEAR**
The centre normally welcomes over 50000 visitors during the year, these are mostly tourists looking for information and advice and members of our community attending meetings, courses and classes or buying local gifts or art. Over the years the organisation has developed a number of projects and events created primarily to stimulate the visitor growth, showcase local attractions and services and support small businesses. Unfortunately, due to the Covid-19 pandemic most of these projects and events were curtailed or cancelled in 2020 and staff were furloughed in accordance with government guidelines and regulations:
## **Crickhowell Walking Festival**
In its 13th year and taking place during the first week of March the festival once again attracted both serious and recreational walkers. This year there were over 80 walks graded according to experience, ability and interest.
## **"Oriel " CRiC Gallery**
The new year exhibition was well received with good income from sales but unfortunately due to Covid19 and being forced to close the centre the Spring exhibition didn’t get the viewings or the sales. When the centre re-opened partially in July the Spring exhibition remained for the Summer.
## **Open Studios and Open Art Competition**
The Covid-19 pandemic resulted in us having to cancel the Open Studios weekend and the Open Art Competition.
## **Retail and Book Sales**
The emphasis on providing visitors and locals with a quality range of local maps, guides, books and mainly locally sourced gifts remained our focus when we were allowed to open the centre. Sadly, some retail stock had to be written off due to their expired shelf life. The new website was populated with a range of our maps, guides and books and some small/medium gifts. The website however was very much in its infancy and sales remained low throughout the year.
## **Room Hire**
Room hire was impacted by Covid-19 and all bookings cancelled from the middle of March. When the centre partially re-opened the conference/meeting rooms remained out of use and therefore resulted in no income for CRiC.
The Centre’s tenants namely The Crickhowell & District Archive Centre, The Crickhowell Volunteer Bureau and The Brecon & District Disabled club had to close completely or only partially open for part of the year and thus impacted on CRiC’s income.
## **Community Hub**
As stated in previous reports the Trustees have set objectives to get closer to all community groups in the Crickhowell area, but sadly due to Covid-19 community events such as CRiC’s Open Day was cancelled as was the Green Man festival in August. The much looked forward to Christmas Fair, Father Christmas and late night shopping events along with all other fund raising coffee mornings and sessions for vulnerable people in the community were not permitted.
## **CBMT**
The re-design of the Visit Crickhowell website was put on hold until July when members’ information was uploaded. However, members’ support during the year was limited to Covid-19 advice and support by email.
## **Great British High Street**
Work on Great British High street projects was put on hold during the year.
## **Public Toilets**
The Public toilets were closed during covid-19 lockdown in the half of the year and re-opened in July. Strict and thorough cleaning was carried out twice daily when the toilets were open in accordance with
## **Other Significant Matters Pensions - Auto Enrolment**
CRiC continued to make contributions to compliant pension schemes above the minimum threshold set by legislation.
CRiC is grateful to local community councils, Powys County Council and the Welsh Government for financial aid in the way of grants during this very difficult year.
The Trustees would like to record their thanks to the staff team for their resilience and tenacity in coping with such difficult circumstances and to the wonderful team of volunteers for their time and dedication which enabled the centre to reopen in accordance with the many Covid-19 safety measures and restrictions.
The Trustees who served throughout the year were David Thomas, Andy Johns, James Suter, Jane Moseley, Hywel Bevan and Bill Chase.
Principal Advisors
Bank Lloyds Solicitors Gabb & Co, Crickhowell
Accountant Vaughan Bennett FCCA - Appointed to independently examine and report on the Accounts
## **CRICKHOWELL RESOURCE AND INFORMATION CENTRE STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 31ST DECEMBER 2020**
## **Notes**
|**INCOMING RESOURCES**
Donations and Gifts
2
**ACTIVITIES IN FURTHERANCE OF**
**THE CHARITY'S OBJECTS**
Photocopying, Internet use , Office etc
3
**ACTIVITIES FOR GENERATING**
**FUNDS:**
Tourism
4
Room Lettings
Coffee Shop
Beaufort Chambers
Art Gallery Commissions
Public Toilets Service Agreement
Open Studios/Art Trail
Other Project Income
Bank Interest
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
_Costs of generating funds_
Tourism
4
Coffee Shop
Beaufort Chambers
Open Studios/Art Trail
Gallery Expenses
Other Project Expense
_Charitable expenditure_
Management and Administration
5
Movement in Funds
Balance as at 1st January
Balance as at 31st December
10|**2020**
**£**
43,576
3,397
53,052
10,977
2,361
0
20,404
12,721
0
1,088
536
£148,112
30,343
871
0
0
1,291
1,088
113,045
£146,638
1,474
58,232
£59,706|**2019**
**£**
16,679
8,715
83,179
25,395
11,284
1,614
33,044
5,968
8,521
1,093
168|
|---|---|---|
|||£195,660|
|||48,624
4,347
3,330
6,647
2,410
3,344
122,661|
|||£191,363|
|||4,297
53,935|
|||£58,232|
The accompanying notes form part of these financial statements.
All of the above results are derived from continuing operations.
## **CRICKHOWELL RESOURCE AND INFORMATION CENTRE BALANCE SHEET AS AT 31ST DECEMBER 2020**
|**Notes**
**FIXED ASSETS**
7
**CURRENT ASSETS**
Debtors
8
Stock on hand ( Retail and Publications)
Cash at Bank and in Hand
Cash at Bank - Restricted Fund
**CREDITORS**: Amounts falling due within
one year
9
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
Unrestricted Funds
10
Deferred Income - Capital Grants
Donation - Restricted Fund|9,650
10,967
74,036
52,017|**2020**
£
680,378
13,849
11,740
63,762
59,974
149,325
35,134
108,024
£788,402
59,706
676,679
52,017
£788,402|**2019**
£
697,374
114,191|
|---|---|---|---|
||146,670
38,646|||
|||||
||||£811,565|
||||58,232
693,359
59,974|
||||£811,565|
The notes on the following pages form part of these financial statements
Approved by the Board of Directors on 12th September 2021 and signed on its behalf. By David Thomas Chairman/Director
## **CRICKHOWELL RESOURCE & INFORMATION CENTRE LTD.**
## **NOTE TO THE FINANCIAL STATEMENTS FOR THE**
## **YEAR ENDED 31st DECEMBER 2020**
## **1. ACCOUNTING POLICIES**
**Company Information** Crickhowell Resource & Information Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is CRIC Beaufort Street, Crickhowell, NP8 1BN.
## **1.1 Accounting convention**
These accounts have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland ' ('FRS102')., 'Accounting and Reporting by Charities' the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and Uk Generally Accepted Accounting Practice as it applies from 1 January 2015. The Charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling which is the functional currency of the Charity. Monetary amounts in these accounts are rounded to the nearest £. The accounts have been prepared on the historic cost convention. The principal accounting policies are set out below.
## **1.2 Going Concern**
At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## **1.3 Incoming resources**
Income is recognised when the Charity 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.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other related taxes.
## **1.4 Resources Expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Support costs are those directly in support of expenditure on the Objects of the Charity.
## **1.5 Tangible Fixed Assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual value over their useful lives on the following bases:
|Computer Equipment|33%|Straight line|
|---|---|---|
|Office Equipment|25%|Straight line|
|Fixtures & Fittings|25%|Straight line|
|Building|2%|Straight line|
**1.6 Capital Grants** Capital grants are treated as deferred income and released to the Income& Expenditure Account over the useful life of the assets consistent with the depreciation policy.
**CRICKHOWELL RESOURCE AND INFORMATION CENTRE NOTES TO THE ACCOUNTS ( continued )**
|**2**
**DONATIONS and GIFTS**
**2020**
£
Capital grants Released
16,679
Small Donations
397
Powys County Council
20,000
Crickhowell Town Council
6,500
£43,576
**3**
**ACTIVITIES IN FURTHERANCE OF THE CHARITY'S OBJECTS**
Photocopying
1,591
Use of Computers
108
Work Done
268
Other
1,430
£3,397
**4**
**TOURISM**
**Income:-**
Grants / Service agreement
0
CBMT
3,328
Walking Festival
16,397
Sales - Publications & Retail
33,327
£53,052
**Expenses:-**
CBMT
361
Walking Festival
8,973
Publications & Retail
21,009
£30,343
**Net Profit - Tourism**
£22,709
**5**
**MANAGEMENT & ADMINISTRATION**
Staff costs - Note 6
58,132
Accountancy Fees
500
Photocopier Charges inc. lease
2,246
Lighting,heating & Water
4,773
Insurances
2,589
Telecommunications
3,436
Printing, Postage & Stationery
333
Repairs & maintenance
6,055
Toilet Cleaning , Utilities etc
11,522
Miscellaneous
1,488
Marketing & Promotion
1,795
Covid Expenses
1,065
Bank Charges
221
Depreciation
18,848
Training
42
£113,045|**2019**
£
16,679
0
0
0|
|---|---|
||£16,679|
||2,942
204
252
5,317|
||£8,715|
||0
4,113
14,960
64,106|
||£83,179|
||400
8,718
39,506|
||£48,624|
||£34,555|
||67,184
600
2,553
5,221
2,635
3,173
871
9,813
5,957
2,495
3,085
0
580
18,353
141|
||£122,661|
## **CRICKHOWELL RESOURCE AND INFORMATION CENTRE NOTES TO THE ACCOUNTS**
|**6**
**STAFF COSTS**
**2020**
**2019**
£
£
Wages and Salaries
66,415
63,175
Pension Cost
2,822
2,503
Social Security Costs
1,379
1,506
Job retention Grant
(12,484)
0
£58,132
£67,184
The average number of full-time equivalent employees (including casual and part-time staff)
during the year was two.
**7**
**TANGIBLE FIXED ASSETS**
**Leasehold**
**Construction**
**Office**
**Total**
**Land**
**Costs**
**Equipment**
**COST**
At 1st January 2020
80,000
833,937
59,547
973,484
Additions
0
0
1,852
1,852
Disposals
0
At 31st December 2020
£80,000
£833,937
£61,399
£975,336
**DEPRECIATION**
At 1st January 2020
0
220,578
55,532
276,110
Disposals
0
Charge for year
0
16,680
2,168
18,848
At 31st December 2020
£0
£237,258
£57,700
£294,958
**NET BOOK VALUE**
31st December 2020
**£80,000**
**£596,679**
**£3,699**
**£680,378**
31st December 2019
£80,000
£613,359
£4,015
£697,374
**8**
**DEBTORS**
**2020**
**2019**
Trade Debtor
3,886
3,725
Prepayments
5,764
10,124
£9,650
£13,849
**9**
**CREDITORS: Amounts falling due within 1 year**
Trade Creditors
2,006
4,012
Grants held over
12,500
0
VAT Payable
4,643
3,925
Accruals and sundry Creditors
19,497
27,197
£38,646
£35,134
**10**
**STATEMENT OF FUNDS**
**Unrestricted**
**Unrestricted**
**Funds**
**Funds**
At 1st January 2020
58,232
53,935
Income
148,112
195,660
Expenditure
(146,638)
(191,363)
At 31st December 2020
£59,706
£58,232|**6**
**STAFF COSTS**
**2020**
**2019**
£
£
Wages and Salaries
66,415
63,175
Pension Cost
2,822
2,503
Social Security Costs
1,379
1,506
Job retention Grant
(12,484)
0
£58,132
£67,184
The average number of full-time equivalent employees (including casual and part-time staff)
during the year was two.
**7**
**TANGIBLE FIXED ASSETS**
**Leasehold**
**Construction**
**Office**
**Total**
**Land**
**Costs**
**Equipment**
**COST**
At 1st January 2020
80,000
833,937
59,547
973,484
Additions
0
0
1,852
1,852
Disposals
0
At 31st December 2020
£80,000
£833,937
£61,399
£975,336
**DEPRECIATION**
At 1st January 2020
0
220,578
55,532
276,110
Disposals
0
Charge for year
0
16,680
2,168
18,848
At 31st December 2020
£0
£237,258
£57,700
£294,958
**NET BOOK VALUE**
31st December 2020
**£80,000**
**£596,679**
**£3,699**
**£680,378**
31st December 2019
£80,000
£613,359
£4,015
£697,374
**8**
**DEBTORS**
**2020**
**2019**
Trade Debtor
3,886
3,725
Prepayments
5,764
10,124
£9,650
£13,849
**9**
**CREDITORS: Amounts falling due within 1 year**
Trade Creditors
2,006
4,012
Grants held over
12,500
0
VAT Payable
4,643
3,925
Accruals and sundry Creditors
19,497
27,197
£38,646
£35,134
**10**
**STATEMENT OF FUNDS**
**Unrestricted**
**Unrestricted**
**Funds**
**Funds**
At 1st January 2020
58,232
53,935
Income
148,112
195,660
Expenditure
(146,638)
(191,363)
At 31st December 2020
£59,706
£58,232|**6**
**STAFF COSTS**
**2020**
**2019**
£
£
Wages and Salaries
66,415
63,175
Pension Cost
2,822
2,503
Social Security Costs
1,379
1,506
Job retention Grant
(12,484)
0
£58,132
£67,184
The average number of full-time equivalent employees (including casual and part-time staff)
during the year was two.
**7**
**TANGIBLE FIXED ASSETS**
**Leasehold**
**Construction**
**Office**
**Total**
**Land**
**Costs**
**Equipment**
**COST**
At 1st January 2020
80,000
833,937
59,547
973,484
Additions
0
0
1,852
1,852
Disposals
0
At 31st December 2020
£80,000
£833,937
£61,399
£975,336
**DEPRECIATION**
At 1st January 2020
0
220,578
55,532
276,110
Disposals
0
Charge for year
0
16,680
2,168
18,848
At 31st December 2020
£0
£237,258
£57,700
£294,958
**NET BOOK VALUE**
31st December 2020
**£80,000**
**£596,679**
**£3,699**
**£680,378**
31st December 2019
£80,000
£613,359
£4,015
£697,374
**8**
**DEBTORS**
**2020**
**2019**
Trade Debtor
3,886
3,725
Prepayments
5,764
10,124
£9,650
£13,849
**9**
**CREDITORS: Amounts falling due within 1 year**
Trade Creditors
2,006
4,012
Grants held over
12,500
0
VAT Payable
4,643
3,925
Accruals and sundry Creditors
19,497
27,197
£38,646
£35,134
**10**
**STATEMENT OF FUNDS**
**Unrestricted**
**Unrestricted**
**Funds**
**Funds**
At 1st January 2020
58,232
53,935
Income
148,112
195,660
Expenditure
(146,638)
(191,363)
At 31st December 2020
£59,706
£58,232|
|---|---|---|
||£80,000
£833,937|£61,399
£975,336|
||0
220,578
0
16,680|55,532
276,110
0
2,168
18,848|
||£0
£237,258|£57,700
£294,958|
||**£80,000**
**£596,679**|**£3,699**
**£680,378**|
||£80,000
£613,359|£4,015
£697,374|
||**2020**
3,886
5,764
£9,650
2,006
12,500
4,643
19,497
£38,646
**Unrestricted**
**Funds**
58,232
148,112
(146,638)
£59,706|**2019**
3,725
10,124
£13,849
4,012
0
3,925
27,197
£35,134
**Unrestricted**
**Funds**
53,935
195,660
(191,363)
£58,232|
The Unrestricted Fund represents free funds of the Charity which are not designated for particular purposes.
CRICKHOWELL RESOURCE & INFORMATION CENTRE
## Reserves Policy
The Trustees have formulated a reserves policy which ensures :
The ability to provide a fund for unplanned / urgent capital expenditure and major revenue repairs to the building and also to provide a buffer in the event of losing major funding streams enabling the business to continue operating whilst alternative sources of income are developed.
Based on a risk analysis of income streams the Trustees have formulated a target level of reserves at approximately £40000 . Reserves being defined as total accumulated reserves less that represented by fixed assets and any restricted funds ( funds provided by donation that have been ringfenced for specific projects )
At the end of 2020 the Trustees report adjusted reserves at just over £43000 and just above the target level.
The Trustees continue to monitor Reserves policy and levels on a regular basis.
## **Report to the Trustees/Directors of Crickhowell Resource & Information Centre**
## **Charity No: 1106479** Company No: 4668297
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st Dec 2020
## **Responsibilities and basis of report**
As the charity's trustees of the Company (who are also the Directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act")
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 ACT"). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention which give me cause to believe that: accounting records were not kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 36 of the Companies Act 2006 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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 accounts to be reached. Vaughan I Bennett, Accountant, Crickhowell, POWYS 5th March 2021