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
2 of 12
## 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance
- with section 476,
- The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting
- records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
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|
7 of 12
## 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