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 2023
CRICKHOWELL RESOURCE & INFORMATION CENTRE LIMITED
The Directors present their report and accounts for the year ending 31[st] December 2023.
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 relating to information technology to support charitable groups in furthering their objectives and to promote rural regeneration locally.
REVIEW OF DEVELOPMENTS DURING THE YEAR
CRiC’s volunteers organised and coordinated another varied programme of walks for the March festival. CRiC was again grateful for the financial support from the local Walkers are Welcome group towards First aid training for volunteer walk leaders.
The oriel cric gallery’s changing exhibitions through the year supported local artists and encouraged developing artists. The gallery’s programme was enhanced by the Open Art competition and the organisation of the annual Open Studios event. The range of local guide books, maps and locally sourced products as our main focus in the retail and book area continues to develop.
The town’s late night shopping event was enhanced by the Christmas Fair which CRiC organised with support from the town’s traders.
Crickhowell and Black Mountain Tourism (CBMT) members were supported with business pages on the www.visitcrickhowell.wales website and we saw some sales from the online shop throughout the year.
CRiC’s role as a community hub continued, with The Crickhowell District Archive Centre, Dial a Ride and The Volunteer Bureau carrying out their operations from the Centre, although we were given notice that the Volunteer Bureau intended to relocate their office elsewhere in town. Several helping agencies including RNID’s Hearing Aid Clinic, Living with Dementia’s Read and Remember, Knit & Natter, Walkers are Welcome held regular sessions in CRiC and the Town Council held their sub group and monthly meetings.
The EPOS stock and till system for sales has become an integral part of stock control and supports CRiC’s book-keeping and financial reporting.In an effort to reduce our overheads we negotiated new telecommunications, internet and printer contracts during the year.During the second half of the year CRiC began work with the Town Council to fit energy saving lighting and other measures in CRiC and in the public toilets to contribute to reducing the overall running costs.
CRiC staff were supported throughout the year by around 80 volunteers which helped to ensure the centre remained open 6 days/week for the community and for visitors and to run our events throughout the year.
TRUSTEES / DIRECTORS
The Trustee Directors who served throughout the year were as follows Andy Johns James Suter Tanya Powell Lee Wright William Chase Austin Leirvik Claire Durkin
PRINICPAL ADVISORS
Bank - LLoyds Solictors - Gabb and Co Crickhowell Independent Examiner - Vaughan Bennett, Retired Accountant
CRICKHOWELL RESOURCE AND INFORMATION CENTRE STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 31ST DECEMBER 2023
Notes
| INCOMING RESOURCES Donations and Gifts 2 Gift Aid Received on Donations 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 Open Studios Other Project Income Bank Interest TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds Tourism 4 Coffee Shop Open Studios Other Project Expense Charitable expenditure Management and Administration 5 Movement in Funds Balance as at 1st January 2023 Balance as at 31st December 2023 10 |
2023 £ 20,446 4,472 2,931 98,574 21,663 5,424 36,178 20,305 5,842 3,296 1,296 £220,427 51,896 1,348 4,294 3,296 166,438 £227,272 (6,845) 82,241 £75,396 |
2022 £ 32,417 0 3,102 96,906 20,834 5,189 31,942 24,270 6,105 667 136 |
|---|---|---|
| £221,568 | ||
| 44,421 2,164 4,450 0 166,377 |
||
| £217,412 | ||
| 4,156 78,085 |
||
| £82,241 |
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 2023
| 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 £0 |
11,233 16,775 77,702 32,231 |
2023 £ 626,641 107,627 |
13,836 13,755 82,876 38,394 |
2022 £ 645,962 117,993 |
|---|---|---|---|---|
| 137,941 30,314 |
148,861 30,868 |
|||
| £734,268 | £763,955 | |||
| 75,396 626,641 32,231 |
82,241 643,320 38,394 |
|||
| £734,268 | £763,955 |
The notes on the following pages form part of these financial statements
Approved by the Board of Directors on 8th July 2024 and signed on its behalf.
By
Claire Durkin
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 2023 £ Capital grants Released 16,679 Small Donations 3,767 Powys County Council 0 Welsh Government 0 Crickhowell Town Council 0 £20,446 3 ACTIVITIES IN FURTHERANCE OF THE CHARITY'S OBJECTS Photocopying 2,038 Use of Computers 0 Work Done 190 Other 703 £2,931 4 TOURISM Income:- Grants / Service agreement 0 CBMT 3,940 Walking Festival 12,165 Sales - Publications & Retail 82,469 £98,574 Expenses:- CBMT 190 Walking Festival 4,696 Publications & Retail 47,010 £51,896 Net Profit - Tourism £46,678 5 MANAGEMENT & ADMINISTRATION Staff costs - Note 6 94,446 Accountancy Fees 805 Photocopier Charges inc. lease 1,781 Lighting,heating & Water 10,443 Insurances 3,011 Telecommunications 5,358 Printing, Postage & Stationery 1,331 Repairs & maintenance 4,995 Toilet Cleaning , Utilities etc 20,282 Miscellaneous 100 Marketing & Promotion 1,200 Payroll Costs 529 Credit Card Charges 2,396 Covid Expenses 0 Bank Charges 440 Depreciation 19,321 Training 0 £166,438 |
2022 £ 16,679 8,238 4,000 3,500 0 |
|---|---|
| £32,417 | |
| 2,864 0 194 44 |
|
| £3,102 | |
| 0 4,209 15,375 77,322 |
|
| £96,906 | |
| 108 3,115 41,198 |
|
| £44,421 | |
| £52,485 | |
| 89,894 1,539 2,496 8,863 2,864 4,484 2,086 5,179 20,418 1,054 2,563 510 2,234 0 419 20,409 1,365 |
|
| £166,377 |
CRICKHOWELL RESOURCE AND INFORMATION CENTRE NOTES TO THE ACCOUNTS
| 6 STAFF COSTS Wages and Salaries Pension Cost Social Security Costs Job retention Grant |
2023 £ 88,043 4,117 2,286 0 £94,446 |
2022 £ 84,072 3,976 1,846 0 |
|---|---|---|
| £89,894 |
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 2023 Additions Disposals At 31st December 2023 DEPRECIATION At 1st January 2023 Disposals Charge for year At 31st December 2023 NET BOOK VALUE 31st December 2023 31st December 2022 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 2023 Income Expenditure At 31st December 2023 |
Leasehold Construction Land Costs 80,000 833,937 0 0 |
Office Total Equipment 66,124 980,061 0 0 0 |
|---|---|---|
| £80,000 £833,937 |
£66,124 £980,061 |
|
| 0 270,617 0 16,679 |
63,482 334,099 0 2,642 19,321 |
|
| £0 £287,296 |
£66,124 £353,420 |
|
| £80,000 £546,641 |
£0 £626,641 |
|
| £80,000 £563,320 |
£2,642 £645,962 |
|
| 2023 4,281 6,952 £11,233 3,702 500 6,034 20,078 £30,314 Unrestricted Funds 82,241 220,427 (227,272) £75,396 |
2022 3,795 10,041 £13,836 8,658 500 3,972 17,738 £30,868 Unrestricted Funds 78,085 221,568 (217,412) £82,241 |
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 £54,000 . 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 2023 the Trustees report adjusted reserves at just over £53,000 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 2023
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: 27[th] April 2024