2021-09-30-accounts - Norwich Christian Resources

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Norwich Christian Resources

(a company limited by guarantee)

Annual Report and Financial Statements Year ended 30 September 2021

Company number	6675645
Charity number	1135412

Norwich Christian Resources

(a company limited by guarantee)

Annual Report and Financial Statements Year ended 30 September 2021

Contents
	Page
Chairman's statement	1
Legal and administrative information	2
Report of the Trustees	3-4
Report of the Independent Examiner	5
Statement of financial activities and income
and expenditure account	6
Statement of financial position	7
Notes forming part of the financial statements	8-10

Norwich Christian Resources

Chairman's statement Year ended 30 September 2021

The impact of Covid-19 continued to be felt heavily for large parts of the year with a resulting knock on effect. The shop was locked down from 5 November 2020 until 2 December 2020 and again from 25 December 2020 until 11 April 2021. The café was similarly closed except that it was unable to reopen after the second lockdown until 18 May 2021 in keeping with all hospitality outlets.

Shop sales totalled £80,481 compared to a pre-Covid figure of £169,735 (fall of 53%) and café sales £26,251 compared to pre-Covid £60,264 (fall of 57%). Job retention scheme grants (£18,666) covered staff wages and Local Restrictions Support Grants (£20,057) contributed towards lost café income.

Income from memberships totalled £18,871 and income from donations and gift aid £25,039. These are valuable and significant amounts and a measure of our depth of support.

Despite these lower sales the Centre made a profit for the year of £10,787 (2020: £12,782).

The challenge going forward for us, now that we are able to resume 'business as usual', is to build our trading income back up to pre-Covid levels. On line competition and a continuing reluctance to venture out after the pandemic present barriers to overcome. We shall be concentrating on maximising and making sure our web site is fit for this purpose. Increases in overhead costs will need to be factored in too. We remain extremely grateful to Norwich Historic Churches Trust for allowing us a significant rent reduction in this financial year. From December 2021 the rent reduction period ended although the scheduled annual increases contained in the lease until expiry in 2024 have been cancelled.

It has been an anxious time for our staff and volunteers and I would like to pay tribute to them all for their commitment and endeavour. The Trustees continue to meet regularly to review progress and explore ways of developing a sustainable future for Revelation.

Philip Talbot Chairman of the Trustees 14 June 2022

Norwich Christian Resources

Annual Report and Financial Statements Year ended 30 September 2021

Legal and administrative information

Charity name Norwich Christian Resources Charity registration number 1135412 Company registration number 6675645 (England and Wales) Registered office and operational St Michael at Plea Church address Redwell Street Norwich NR2 4SN

Trustees

Rev Alaric Lewis Mrs L Marsh (retired October 2020) Mrs M Smith Mr P Talbot (Chairman) Rev Neil Walker Rev Heather Butcher (appointed January 2021)

All trustees are directors

Independent Examiner

John Mason ACMA, CGMA Mason Williams Limited 1 Hammond Place Lyng Norwich NR9 5RQ

Norwich Christian Resources

Report of the Trustees Year ended 30 September 2021

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report and the unaudited financial statements for the year ended 30 September 2021.

Structure, governance and management

Governing document

The organisation is a charitable company (hereafter referred to as the Trust), limited by guarantee, incorporated on 18 August 2008 and registered as a charity on 9 April 2010. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up the members are required to contribute an amount not exceeding £1.

Appointment of Trustees

Under the terms of the Memorandum and Articles of Association, new Trustees may be appointed at the annual general meeting. Any new appointments are at the recommendation of the Board of Trustees.

Trustees induction and training

New Trustees are briefed on their legal obligations under charity law, the content of the Memorandum and Articles of Association and recent financial performance of the Trust. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisation

The Trustees administer the Trust and meet at least on a quarterly basis. The shop manager has been appointed by the Trustees to manage the day to day operations of the Trust. To facilitate effective operations, the manager has delegated authority, within the terms of delegation approved by the Trustees for operational matters including project activities and finance.

Objectives and principal activities

The primary objective of the Norwich Christian Resource Centre seeks to provide the following for the benefit of the citizens of Norwich and the surrounding areas:

Resources for all denominations and age groups of the Christian church,.
A welcome to people of all faiths or none,
Resources for those who work in the education community,
The centre's café as a quiet haven for shoppers, local business people, tourists and clergy, and
Events throughout the year such as lectures, book signings, discussion groups and debates.

The principal activities of the Trust continue to be the running of the shop and café for charitable purposes.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate systems and procedures are in place to mitigate major risks. The strategy also includes procedures to minimise the impact on the Trust should those risks materialise.

Public benefit

The Trustees confirm that, in exercising their powers and duties, they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.

Volunteers

The centre provides a place for voluntary opportunities for people to enhance their working and social skills. The Trustees would also like to thank all volunteers for their contribution in the running of the centre.

Norwich Christian Resources

Report of the Trustees (continued) Year ended 30 September 2021

Achievements and performance

Review of activities, performance and future plans

The activities, performance and future plans are outlined in the Chairman's Report on page 1.

Reserves policy

The Trustees have examined the Trust's requirements for reserves in the light of main risks to the organisation. They have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the Trust should not fall below a minimum of £10,000. At the end of the year, the free reserves amounted to a surplus of £30,429.

Statement of Trustees Responsibilities

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the income and expenditure for the year. In preparing these financial statements the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the method and principles of the Charities SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation.
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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).

Approved by the Board of Trustees on 14 June 2022.

P Talbot Chairman of the Trustees

Norwich Christian Resources Independent Examiner's report For the year ended 30 September 2021

Independent Examiner's report to the Trustees of Norwich Christian Resources

I report to the charity Trustees on my examination of the accounts of the company for the year ended 30 September 2021 which are set out on pages 6 to 10.

Responsibilities and basis of report

As the charity Trustees of the company (and also its Directors 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 under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your company'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 matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

●accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
●the accounts do not accord with those records; or
●the accounts do not comply with the accounting 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
●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 my examination to which attention should be drawn in this respect in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

John Mason ACMA, CGMA Mason Williams Limited 1 Hammond Place Lyng Norwich NR9 5RQ

14 June 2022

Norwich Christian Resources

Statement of Financial Activities and Income and Expenditure Account Year ended 30 September 2021

Income Donations Subscriptions and membership Shop and café income Government grants Total income Expenditure (note 5) Charitable activities Other Total expenditure Net income Funds at 1 October 2021 Funds at 30 September 2021	2021 2020 £ £ 25,039 11,551 18,871 18,544 106,732 146,358 38,723 58,890 189,365 235,343 177,828 221,811 750 750 178,578 222,561 10,787 12,782 19,642 6,860 30,429 19,642

The notes form part of these financial statements.

Norwich Christian Resources

Statement of financial position as at 30 September 2021

Notes Fixed assets Tangible assets 8 Current assets Stock Debtors 9 Bank and cash Creditors: Amounts falling due within one year 10 Net current assets Net assets General funds Unrestricted Total funds	2021 £ 2,969 33,634 440 20,969 55,043 (27,583) 27,460 30,429 30,429 30,429	2020 £ 4,633
		39,428 440 6,846
		46,714
		(31,705)
		15,009
		19,642
		19,642
		19,642

For the financial period ended 30 September 2021 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The Trustees acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of the affairs of the company as at the end of the financial period and of its profit or loss for the financial period in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These financial statements were approved and authorised for issue by the Trustees on 14 June 2022 and are signed on its behalf by:

P Talbot Chairman

Company registration number 6675645

The notes form part of these financial statements.

Norwich Christian Resources

Notes to the financial statements Year ended 30 September 2021

1 Statutory information

Norwich Christian Resources is a private charitable company, limited by guarantee, domiciled in England and Wales, registration number 6675645. The registered office is St Michael at Plea Church, Redwell Street, Norwich, NR2 4SN.

2 Compliance with accounting standards

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.

Norwich Christian Resources 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.

3 Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous financial year, and also have been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention.

The presentation currency is £ sterling.

(a) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherence of the general objectives of the Trust and which have not been designated for other purposes.

(b) Income

Grants are recognised in the statement of Financial Activities (SOFA) in the period in which the conditions have been met. Grants received to finance activities in future accounting periods are included within deferred income and recognised in the period in which those activities are undertaken.
All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations and memberships receivable are recognised in the SOFA in the period in which they are received.
Donated services and facilities are included at the value to the Trust where this can be quantified.

(c) Expenditure

Expenditure is recognised on an accruals basis excluding any Value Added Tax

Charitable expenditure comprises those costs incurred by the Trust in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Other costs include those costs associated with meeting the constitutional and statutory requirements of the Trust and include the examiner's fees and costs linked to the strategic management of the Trust.

(d) Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery etc.

25% on a straight line balance

Norwich Christian Resources

Notes to the financial statements (continued) Year ended 30 September 2021

3 Accounting policies (continued)

(e) Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

(f) Taxation

The charity is exempt from corporation tax on its charitable activities.

(g) Leasing commitments

Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the period of the lease.

(h) Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of Financial Activities when they fall due. Amounts not paid are shown as a liability in the Statement of financial position. The assets of the plan are held sepatately from the Company in independently administered funds.

4 Going concern

The Trustees have considered the charity's position at the time of signing the financial statements, and in particular the impact of Covid-19 and lockdown on the ability to generate sufficient funding to meet expenditure. Under the current circumstances, it is difficult to produce precise forecasts for the remainder of the financial year and medium term. Nevertheless, the Trustees have considered the current position of the charity and have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

5 Expenditure Charitable activities Advertising Purchases Property expenses Subscriptions Salaries and national insurance Pension contributions Professional fees Office costs Travel and subsistence Finance charges Depreciation of plant and machinery Other Examiner's fee	2021 £ - 58,464 26,410 660 83,176 449 846 4,487 45 1,627 1,664	2020 £ 80 79,713 36,880 450 94,072 451 1,081 4,895 297 2,362 1,530
	177,828	221,811
	750	750
	178,578	222,561

6 Trustees' remuneration and benefits

The Trustees received no remuneration, benefits or expenses during the year (2020: £nil). There were no related party transactions.

Norwich Christian Resources

Notes to the financial statements (continued) Year ended 30 September 2021

7 Staff costs Wages and salaries Social security costs Employer pension contributions During the year the average number of employees was 7 (2020: 7) 8 Tangible fixed assets Cost At 1 October 2020 Additions At 30 September 2021 Depreciation At 1 October 2020 Charge for the year At 30 September 2021 Net book value at 30 September 2021 Net book value at 30 September 2020 9 Debtors Prepayments 10 Creditors: amounts falling due within one year Trade creditors Taxation and social security Accruals and deferred income Other creditors	2021 £ 83,176 - 449	2020 £ 92,790 1,282 451
	83,625	94,523
	2021 £ 440	Plant and machinery £ 18,892 -
		18,892
		14,259 1,664
		15,923
		2,969
		4,633
		2020 £ 440
	2021 £ 14,246 1,613 1,574 10,150	2020 £ 22,845 4,097 1,613 3,150
	27,583	31,705

11 Commitments under operating lease

Under the terms of the lease, the company has a commitment to pay £21,000 in the year to 30 September 2022. Due to the coronavirus pandemic the Trustees are in the process of negotiating a temporary rent reduction.