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2020-12-31-accounts

Charity number: 1127001

Company number: 05935857

(England and Wales)

ARC (Axminster) Limited

Report of the Trustees and Unaudited Financial Statements

For the year ended 31 December 2020

ARC (Axminster) Limited Contents Page For the year ended 31 December 2020

Report of the Trustees 1 to 2
Independent Examiner's Report to the Trustees 3
Statement of Financial Activities 4
Statement of Financial Position 5
Notes to the Financial Statements 6 to 10
Detailed Statement of Financial Activities 11 to 12

ARC (Axminster) Limited Report of the Trustees

For the year ended 31 December 2020

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 December 2020. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

The charitable objectives of the charity are to relieve the mental and physical sickness of persons resident in Axminster suffering from bereavement or loss by the provision of counselling and support for such persons.

Objectives and aims

The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

ACHIEVEMENTS AND PERFORMANCE

Charity shop takings have fallen due to Covid trade restrictions. There has again been a concerted effort with regards fund raising activities including the use of a consultant which in turn has raised the profile of the charity in the local area.

FINANCIAL REVIEW

As at 31 December 2020 the charity had surplus funds of £88,961. The trustees have continued to undertake fundraising activities to generate income and raise the profile of the charity in the local area.

The trustees believe a Reserve should be maintained at a minimum level which ensures that 3 months of the organisation's core activity could continue during a period of unforseen difficulty. For the current year this is estimated to equate to £20,000. Current free reserves are £68,961.

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity ARC (Axminster) Limited Charity registration number 1127001 Company registration number 05935857 Principal address Axminster Medical Practice St Thomas Court, Church Street Axminster Devon EX13 5AG Registered address 17 Castle Hill Axminster Devon EX13 5PY

Trustees

The trustees and officers serving during the year and since the year end were as follows:

Mrs C C J Davies Dr B N McKenna Mr G Pratt Mrs C Lambert Mr I L Hall Mr C G D Outlaw Mrs B S Fearnley

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ARC (Axminster) Limited Report of the Trustees Continued For the year ended 31 December 2020

Independent examiner

Mrs N Cornelius (MAAT) Bay Tree Adsborough Taunton Somerset TA2 8RR

Approved by the Board of Trustees and signed on its behalf by

............................................................................. 16 February 2021 Mr I L Hall

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ARC (Axminster) Limited Independent Examiners Report to the Trustees

For the year ended 31 December 2020

I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity Trustees, who are also directors for the purposes of company law, 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 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 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 examiners statement

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the requirements of section 396 of the 2006 Act 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

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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.

Mrs N Cornelius (MAAT) Bay Tree Adsborough Taunton Somerset TA2 8RR

16 February 2021

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ARC (Axminster) Limited

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 December 2020

Notes
Income and endowments from:
Donations and legacies
2
Other trading activites
3
Investments
4
Other income
5
Total
Expenditure on:
Charitable activities
6/7
Total
Net income
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
46,489
31,603
39
22,570
100,701
(91,289)
(91,289)
9,412
79,549
88,961		 2019
£
71,631
62,437
76
-
134,144
(84,525)
(84,525)
49,619
29,930
79,549

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Registered Number : 05935857

ARC (Axminster) Limited Statement of Financial Position

As at 31 December 2020

Notes
Fixed assets
Tangible assets
13
Current assets
14
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
16
Net assets
The funds of the charity
Unrestricted income funds
Total funds		 £
2020
2,411
2,411
1,512
88,342
89,854
(2,700)
87,154
89,565
(604)
88,961
88,961
88,961		 £
2019
3,014
3,014
1,453
77,350
78,803
(1,908)
76,895
79,909
(360)
79,549
79,549
79,549

For the year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

Mrs C C J Davies Trustee

16 February 2021

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ARC (Axminster) Limited Notes to the Financial Statements

For the year ended 31 December 2020

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.

ARC (Axminster) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

There are no indications that ARC (Axminster) Ltd will not continue in operational existence for the forseeable future.

Funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specific purpose and which the charity may use for its purpose at its discretion. ARC (Axminster) Limited only holds unrestricted funds.

Incoming resources

All incoming resources are incldued in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to specific categories of income :

Voluntary income is received by way of donations and gifts and is included in full in the statement of financial activities when receivable.

Donated goods, services and facilities

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generated funds when they are sold.

Donated gifts not suitable for re-sale within the charity shop are sold by weight. The proceeds from such gifts are included as recycling.

Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.

Charitable activites

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Allocation and appointment of costs

Charitable expenditure includes both costs that can be allocated directly to individual activities and those costs of an indirect nature necessary to support them.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and Fittings

20% Reducing balance

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ARC (Axminster) Limited Notes to the Financial Statements Continued

For the year ended 31 December 2020

2. Income from donations and legacies
Unrestricted funds
Donations received
3. Income earned from other activities
Unrestricted funds
Fund raising
Shop income
4. Investment income
Unrestricted funds
Bank interest receivable
5. Other income
Unrestricted funds
Grants
6. Costs of charitable activities by fund type
Unrestricted funds
Support costs		 2020
£
46,489
46,489
2020
£
13,069
18,534
31,603
2020
£
39
39
2020
£
22,570
22,570
2020
£
91,289		 2019
£
71,631
71,631
2019
£
22,234
40,203
62,437
2019
£
76
76
2019
£
-
-
2019
£
84,525

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ARC (Axminster) Limited Notes to the Financial Statements Continued For the year ended 31 December 2020

7. Costs of charitable activities by activity type

Support costs
Counselling Services
Charity Shop		 2019
2020
£
£
67,817
51,435
23,472
33,090
91,289
84,525

8. Analysis of support costs

nalysis of support costs
Counselling Charity Shop 2020 2019
Services
£ £ £ £
Management 66,694 11,416 78,110 70,867
Finance 90 201 291 297
IT 70 24 94 83
Property - 9,944 9,944 10,760
Office 204 1,487 1,691 1,594
Governance costs 759 400 1,159 924
67,817 23,472 91,289 84,525

9. Net income/(expenditure) for the year

This is stated after charging/(crediting):

This is stated after charging/(crediting):
2020 2019
£ £
Depreciation of owned fixed assets 603 754
Accountancy fees 615 585
Trustees' remuneration 23,904 17,449
Trustees' pension contributions 1,290 753
Staff pension contributions 1,561 1,384

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ARC (Axminster) Limited Notes to the Financial Statements Continued

For the year ended 31 December 2020

10. Staff costs and emoluments

Total staff costs for the year ended 31 December 2020 were:

Salaries and wages
Pension costs
Shop Employees		 2020
£
57,612
2,851
60,463
2020
4
4		 2019
£
51,133
2,137
53,270
2019
4
4

12. Comparative for the Statement of Financial Activities

The comparative year values on the Statement of Financial Activites are for unrestricted funds.

13. Tangible fixed assets

Cost or valuation
At 01 January 2020
Revaluations
At 31 December 2020
Depreciation
At 01 January 2020
At 31 December 2020
Net book values
At 31 December 2020
At 31 December 2019
14. Debtors
Amounts due within one year:
Prepayments and accrued income		 2020
£
1,512
1,512		 Fixtures and
Fittings
£
4,009
(603)
3,406
995
995
2,411
3,014
2019
£
1,453
1,453

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ARC (Axminster) Limited Notes to the Financial Statements Continued

For the year ended 31 December 2020

15. Creditors: amounts falling due within one year

Other creditors
Accruals and deferred income		 2020
£
2,085
615
2,700		 2019
£
1,323
585
1,908

16. Creditors: amounts falling due after more than one year

Other creditors
Analysis of net assets between funds
Unrestricted funds
General
General
Previous year
Unrestricted funds
General
General		 2020
2019
£
£
604
360
604
360
Tangible
fixed assets
Net current
assets /
(liabilities)
Creditors >
one year
Net Assets
£
£
£
£
2,411
87,154
(604)
88,961		 2019
£
360
360
2,411
87,154
(604)
88,961
Tangible
fixed assets
Net current
assets /
(liabilities)
Creditors >
one year
Net Assets
£
£
£
£
3,014
76,895
(360)
79,549
3,014
76,895
(360)
79,549

18. Analysis of net assets between funds

19. Company limited by guarantee

ARC (Axminster) Limited is a company limited by guarantee and accordingly does not have a share capital.

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ARC (Axminster) Limited Detailed Statement of Financial Activities

For the year ended 31 December 2020

INCOME AND ENDOWMENT
Donations and legacies
Donations
Other trading activities
Fund raising
Shop income
Auction Proceeds
Workplace Counselling
Investments
Bank interest receivable
Other income
Grants
Total incoming resources
SUPPORT COSTS
Management
Staff Costs - wages & salaries (Counselling
Services)
Staff costs - pension contributions (Counselling
Services)
Trustee - wages & salaries (Counselling
Services)
Trustee - pension contributions (Counselling
Services)
Staff Training (Counselling Services)
Insurance (Counselling Services)
Subscriptions (Counselling Services)
Supervision & Locum (Counselling Services)
Fundraising Consultancy & Costs (Counselling
Services)
Staff costs - wages & salaries (Charity Shop)
Staff costs - pension contributions (Charity Shop)
Legal, Progessional & Subscriptions (Charity
Shop)
Shop Locum (Charity Shop)
Finance
Bank Charges (Counselling Services)
Bank Charges (Charity Shop)
IT
Payroll Software (Counselling Services)
Payroll Software (Charity Shop)		 £
2020
46,489
46,489
13,069
14,445
696
3,393
31,603
39
39
22,570
22,570
100,701
(24,845)
(1,181)
(23,904)
(1,290)
(2,451)
(940)
(1,228)
(8,775)
(2,080)
(8,863)
(381)
(1,201)
(971)
(78,110)
(90)
(201)
(291)
(70)
(24)		 £
2019
71,631
71,631
22,234
36,581
3,507
115
62,437
76
76
-
-
134,144
(19,076)
(822)
(17,449)
(753)
(756)
(630)
(546)
(8,878)
(1,645)
(14,608)
(562)
(1,240)
(3,902)
(70,867)
(105)
(192)
(297)
(62)
(21)

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This page does not form part of the statutory financial statements

ARC (Axminster) Limited Detailed Statement of Financial Activities Continued For the year ended 31 December 2020

(94) (83)
Property
Rates & Water (Charity Shop) - (591)
Rent (Charity Shop) (8,400) (8,820)
Light & Heat (Charity Shop) (1,035) (708)
General Insurance (Charity Shop) (475) (274)
Repairs & Materials (Charity Shop) (34) (367)
(9,944) (10,760)
Office
Artwork, Postage & Stationery (Counselling (80) (174)
Services)
Website (Counselling Services) (124) -
Depreciation - owned assets (Charity Shop) (603) (754)
Telephone (Charity Shop) (550) (500)
Printing, Postage & Stationery (Charity Shop) (320) (132)
Canteen (Charity Shop) (14) (34)
(1,691) (1,594)
Governance costs
Accountancy fees (Counselling Services) (215) (200)
Legal fees (Counselling Services) (362) (339)
Motor and travel expenses (Counselling (182) -
Services)
Accountancy fees (Charity Shop) (400) (385)
(1,159) (924)
Total resources expended (91,289) (84,525)
Net Income 9,412 49,619

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This page does not form part of the statutory financial statements