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 2021
CRICKHOWELL RESOURCE & INFORMATION CENTRE LIMITED
The Directors present their report and accounts for the year ending 31[st] December 2021.
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
Due to the covid pandemic CRiC and its activities remained closed and inactive for the first quarter of 2021. When we re-opened in April it was following a thorough review of activities and after carrying out covid risk assessments for all aspects of CRiC's business. The centre was opened on a parttime basis initially, with restrictions in place regarding our activities and visitor movement within the centre. Restrictions remained in place throughout 2021 and although footfall remained low during the year due to restrictions nationally and internationally sales were reasonably bouyant. Research and work to appoint an EPOS development company began with a view to implementation in 2022. We were successful in our application for a 6 month Kickstart placement and a candidate was appointed in June to the position of Gallery Assistant. At the end of the placement in dec we were able to offer part time hours to him.
Crickhowell Walking festival - Marketing and booking for the walking festival starts in the previous autumn and due to the pandemic and related uncertainties the decision was taken not to hold the Walking Festival in 2021.
Oriel CRiC gallery - When the centre reopened exhibitions were mounted in the gallery in support of local artists and covid restrictions were adhered to. As above whilst footfall remained low sales of artwork were reasonable.
Open Studios and Open Art Competition - Due to the covid pandemic and restrictions the Open Art competition and Open Studios weekend did not take place for the 2nd consecutive year.
Retail and Book Sales - Visitors were encouraged to explore the local area and our emphasis on local maps, guides, books remained our focus. Stock was cautiously maintained at an optimum level.
Room Hire - It was only in the autumn that we allowed small groups to meet face to face in our conference room.
Community Hub - CRiC organised a scaled back Christmas Fair in Clarence Hall but no other Christmas events were held.
CBMT - During the year we introduced online member payments and welcomed 6 new members. We undertook to ensure all members contact details were accurate and uptodate.
Friends to CRiC - we launched a Be a Friend to CRiC scheme inviting to supporters to donate one off or annually to receive regular newsletters and exclusive exhibition previews.
Public toilets - We continued to manage the public toilets and carry out strict and thorough cleaning in accordance with covid guidelines.
CRiC was in receipt of grant payments from Welsh Government, Powys County Council and Crickhowell Town Council to help alleviate the adverse effects of covid.
CRICKHOWELL RESOURCE AND INFORMATION CENTRE STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 31ST DECEMBER 2021
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 Art Gallery Commissions Public Toilets Service Agreement Other Project Income Bank Interest TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds Tourism 4 Coffee Shop Gallery Expenses Other Project Expense Charitable expenditure Management and Administration 5 Movement in Funds Balance as at 1st January 2021 Balance as at 31st December 2021 10 |
2021 £ 55,937 2,942 67,936 15,363 2,837 34,473 22,671 1,990 306 £204,455 42,768 1,966 183 442 140,717 £186,076 18,379 59,706 £78,085 |
2020 £ 43,576 3,397 53,052 10,977 2,361 20,404 12,721 1,088 536 |
|---|---|---|
| £148,112 | ||
| 30,343 871 1,291 1,088 113,045 |
||
| £146,638 | ||
| 1,474 58,232 |
||
| £59,706 |
The accompanying notes form part of these financial statements.
All of the above results are derived from continuing operations.
TRUSTEES / DIRECTORS
The Trustee Directors who served throughout the year were as follows: Andy Johns, James Suter, David Thomas, Hywel Bevan (resigned Nov 2021) William Chase, Jane Moseley (resigned Nov 2021) Lee Wright (April 2021), Claire Durkin (Nov 2021), Kirsty Perrett (Nov 2021) Tanya Powell (April 2021)
PRINICPAL ADVISORS
Bank - LLoyds Solictors - Gabb and Co Crickhowell Independent Examiner - Vaughan Bennett, Retired Accountant
CRICKHOWELL RESOURCE AND INFORMATION CENTRE BALANCE SHEET AS AT 31ST DECEMBER 2021
| 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 |
9,640 8,538 92,666 39,663 |
2021 £ 661,646 116,101 |
9,650 10,967 74,036 52,017 |
2020 £ 680,378 108,024 |
|---|---|---|---|---|
| 150,507 34,406 |
146,670 38,646 |
|||
| £777,747 | £788,402 | |||
| 78,085 660,000 39,662 |
59,706 676,679 52,017 |
|||
| £777,747 | £788,402 |
The notes on the following pages form part of these financial statements
Approved by the Board of Directors on 6th July 2022 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 2021
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.
| 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 2021 £ Capital grants Released 16,679 Small Donations 7,258 Powys County Council 27,500 Welsh Government 4,500 Crickhowell Town Council 0 £55,937 3 ACTIVITIES IN FURTHERANCE OF THE CHARITY'S OBJECTS Photocopying 1,044 Use of Computers 8 Work Done 283 Other 1,607 £2,942 4 TOURISM Income:- Grants / Service agreement 0 CBMT 2,975 Walking Festival 0 Sales - Publications & Retail 64,961 £67,936 Expenses:- CBMT 160 Walking Festival 867 Publications & Retail 41,741 £42,768 Net Profit - Tourism £25,168 5 MANAGEMENT & ADMINISTRATION Staff costs - Note 6 73,435 Accountancy Fees 550 Photocopier Charges inc. lease 2,207 Lighting,heating & Water 6,424 Insurances 2,550 Telecommunications 4,109 Printing, Postage & Stationery 1,107 Repairs & maintenance 3,981 Toilet Cleaning , Utilities etc 19,100 Miscellaneous 2,177 Marketing & Promotion 2,581 Payroll Costs 461 Credit Card Charges 2,399 Covid Expenses 0 Bank Charges 309 Depreciation 18,732 Training 595 £140,717 |
2020 £ 16,679 397 20,000 0 6,500 |
|---|---|
| £43,576 | |
| 1,591 108 268 1,430 |
|
| £3,397 | |
| 0 3,328 16,397 33,327 |
|
| £53,052 | |
| 361 8,973 21,009 |
|
| £30,343 | |
| £22,709 | |
| 58,132 500 2,246 4,773 2,589 3,436 333 6,055 11,522 1,488 1,795 0 0 1,065 221 18,848 42 |
|
| £113,045 |
CRICKHOWELL RESOURCE AND INFORMATION CENTRE NOTES TO THE ACCOUNTS
| 6 STAFF COSTS Wages and Salaries Pension Cost Social Security Costs Job retention Grant |
2021 £ 77,330 3,869 1,072 (8,836) £73,435 |
2020 £ 66,415 2,822 1,379 (12,484) |
|---|---|---|
| £58,132 |
The average number of full-time equivalent employees (including casual and part-time staff) during the year was two.
7 TANGIBLE FIXED ASSETS
| COST At 1st January 2021 Additions Disposals At 31st December 2021 DEPRECIATION At 1st January 2021 Disposals Charge for year At 31st December 2021 NET BOOK VALUE 31st December 2021 31st December 2020 8 DEBTORS Trade Debtor Prepayments 9 CREDITORS: Amounts falling due within 1 year Trade Creditors Grants held over VAT Payable Accruals and sundry Creditors 10 STATEMENT OF FUNDS At 1st January 2021 Income Expenditure At 31st December 2021 |
Leasehold Construction Land Costs 80,000 833,937 0 0 |
Office Total Equipment 61,399 975,336 0 0 0 |
|---|---|---|
| £80,000 £833,937 |
£61,399 £975,336 |
|
| 0 237,258 0 16,679 |
57,700 294,958 0 2,053 18,732 |
|
| £0 £253,937 |
£59,753 £313,690 |
|
| £80,000 £580,000 |
£1,646 £661,646 |
|
| £80,000 £596,679 |
£3,699 £680,378 |
|
| 2021 3,111 6,529 £9,640 4,466 4,000 4,607 21,333 £34,406 Unrestricted Funds 59,706 204,455 (186,076) £78,085 |
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 |
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 £56,000 . 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 2021 the Trustees report adjusted reserves at just over £56,000 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 31 December 2021.
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 396 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 (FRS 102).
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
Dated: 15[th] March 2022