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