Norwich Christian Resources
(a company limited by guarantee)
Annual Report and Financial Statements Year ended 30 September 2022
| Company number | 6675645 |
|---|---|
| Charity number | 1135412 |
Norwich Christian Resources
(a company limited by guarantee)
Annual Report and Financial Statements Year ended 30 September 2022
| 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 |
1
Norwich Christian Resources
Chairman's statement Year ended 30 September 2022
Essentially this was a year focussed on continuing to manage the ongoing impact from the pandemic. In common with all other retail and hospitality outlets we were required to lock down for periods and whilst we received job retention and hospitality grants it is taking time to recover pre-pandemic footfall through the shop and café. The trustees wish to express their thanks to all of our staff and volunteers for their support and commitment during what has been an unsettling period for everyone. In February we were pleased to appoint Cathy Luland as the new Centre Manager. Cathy had previously worked in the shop for us for a number of years and brings that experience into her new role. Regular visitors to the Centre will know how cold it can be in St Michael at Plea, particularly during the winter months. We are pleased to have been able to replace the old gas burners with a new eco-friendly infra-red system. We hope our customers will find this makes for a warmer environment when they visit in future. The Heavenly Gardens project have taken us on as another one of the medieval churchyards they maintain in Norwich, helping to make our outside space more attractive.
The trustees remain committed to securing a long term future for this valuable and unique resource at the same time recognising the challenges we continue to face, in particular and for the shop, online competition and the closure of Belsey Bridge Conference Centre at Ditchingham near Bungay whilst the café works hard given the proliferation of eating establishments nearby.
Philip Talbot Chairman of the Trustees 30 May 2023
2
Norwich Christian Resources
Annual Report and Financial Statements Year ended 30 September 2022
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 A Lewis (resigned 22 March 2022) Mr G L Darley (appointed 1 August 2022, resigned 30 September 2022) Mrs M Smith Mr P Talbot (Chairman) Rev N Walker (resigned 9 December 2022) Rev G L Lewis (appointed 1 August 2022) Rev Heather Butcher Rev P G Jordan (appointed 1 August 2022)
All trustees are directors
Independent Examiner
John Mason ACMA, CGMA Mason Williams Limited 1 Hammond Place Lyng Norwich NR9 5RQ
Norwich Christian Resources
3
Report of the Trustees Year ended 30 September 2022
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
4
Report of the Trustees (continued) Year ended 30 September 2022
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 £17,449.
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. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its income and expenditure for that period. In preparing these financial statements the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain Trust's transactions and 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.
Directors and Trustees
The Trustees who are Directors for the purpose of company law and Trustees for the purpose of charity law and who served during the year and up to the date of this report are set out on page 2.
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).
Since the company qualifies as small under Section 383, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations is not required.
Approved by the Trustees
P Talbot Chairman of the Trustees
Norwich Christian Resources Independent Examiner's report For the year ended 30 September 2022
5
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 2022 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
6
Norwich Christian Resources
Statement of Financial Activities and Income and Expenditure Account Year ended 30 September 2022
| Income Subscriptions, donations and gift aid Shop and café income Government grants Other grants Total income Expenditure (note 5) Charitable activities Other Total expenditure Net (expenditure)/income Funds at 1 October 2022 Funds at 30 September 2022 |
2022 2021 £ £ 58,053 43,910 151,809 106,732 4,000 38,723 5,436 - 219,298 189,365 221,210 177,828 1,664 750 222,874 178,578 (3,576) 10,787 30,429 19,642 26,853 30,429 |
|---|---|
The notes form part of these financial statements.
7
Norwich Christian Resources
Statement of financial position as at 30 September 2022
| 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 |
2022 £ 9,404 39,723 - 7,508 47,231 (29,782) 17,449 26,853 26,853 26,853 |
2021 £ 2,969 |
|---|---|---|
| 33,634 440 20,969 |
||
| 55,043 | ||
| (27,583) | ||
| 27,460 | ||
| 30,429 | ||
| 30,429 | ||
| 30,429 |
For the financial period ended 30 September 2022 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 30 May 2023. 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
8
Notes to the financial statements Year ended 30 September 2022
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
9
Notes to the financial statements (continued) Year ended 30 September 2022
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 ability to generate sufficient funding following the end of the Covid-19 pandemic to meet expenditure. In the year under review turnover is significantly below pre pandemic levels which has severely impacted our. results. Our members continue to offer their generous support which together with a one-off donation of £25,000 has enabled the charity to continue in operation. The Trustees have considered the current position and have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for 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 |
2022 £ 100 84,178 43,067 785 81,097 178 2,289 3,351 244 2,301 4,123 |
2021 £ - 58,464 26,410 660 83,176 449 846 4,487 45 1,627 1,664 |
|---|---|---|
| 221,713 | 177,828 | |
| 1,664 | 750 | |
| 223,377 | 178,578 |
6 Trustees' remuneration and benefits
The Trustees received no remuneration, benefits or expenses during the year (2021: £nil). There were no related party transactions.
Norwich Christian Resources
10
Notes to the financial statements (continued) Year ended 30 September 2022
| 7 Staff costs Wages and salaries Employer pension contributions During the year the average number of employees was 7 (2021: 7) 8 Tangible fixed assets Cost At 1 October 2021 Additions At 30 September 2022 Depreciation At 1 October 2021 Charge for the year At 30 September 2022 Net book value at 30 September 2022 Net book value at 30 September 2021 9 Debtors Prepayments 10 Creditors: amounts falling due within one year Trade creditors Taxation and social security Accruals and deferred income Other creditors |
2022 £ 81,097 178 |
2021 £ 83,176 449 |
|---|---|---|
| 81,275 | 83,625 | |
| 2022 £ - |
Plant and machinery £ 18,892 10,558 |
|
| 29,450 | ||
| 15,923 4,123 |
||
| 20,046 | ||
| 9,404 | ||
| 2,969 | ||
| 2021 £ 440 |
||
| 2022 £ 16,428 2,624 1,613 9,117 |
2021 £ 14,246 1,574 1,613 10,150 |
|
| 29,782 | 27,583 |
11 Commitments under operating lease
Under the terms of the lease, the company has a commitment to pay £22,000 in the year to 30 September 2023.