## **Norwich Christian Resources** ## **(a company limited by guarantee)** **Annual Report and Financial Statements Year ended 30 September 2023** |Company number|6675645| |---|---| |Charity number|1135412| ## **Norwich Christian Resources** ## **(a company limited by guarantee)** ## **Annual Report and Financial Statements Year ended 30 September 2023** |**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 2023** This has been another difficult year for Revelation. The challenges we are currently facing are reflected in our financial performance. Covid support in the way of grants and job retention payments enabled us to continue through lock downs but that support has come to and end now that we are working in a 'post covid' environment. We are grateful for the continued loyalty that has been shown by many of our regular customers but undoubtedly Covid has left its mark in the way of reduced footfall through the shop and café. Traditionally we had also been able to provide bookstalls at training conferences but the closure of Belsey Bridge has curtailed this activity. Philip Talbot stepped down as Chair after eleven years in post and has been replaced by Margaret Smith. Philip remains a Trustee. The Trustees wish to express their thanks to the staff and volunteers who have worked tirelessly to keep Revelation on the map. We also wish to recognise Cathy Luland's commitment in post since she was appointed Centre Manager in February 2022. Cathy left us July 2023 and she goes with our best wishes. Looking ahead to 2024 our premises lease is scheduled to expire and a new lease will need to be negotiated with Norwich Historic Churches Trust (NHCT). We are grateful to NHCT for the kind consideration they have shown at various times during the currency of the existing lease and we hope it will be possible to find common ground when it comes to the renegotiation. Margaret Smith Chairman of the Trustees 2 ## **Norwich Christian Resources** ## **Annual Report and Financial Statements Year ended 30 September 2023** ## **Legal and administrative information** Charity name Norwich Christian Resources Charity registration number Company registration number 1135412 6675645 (England and Wales) Registered office and operational address St Michael at Plea Church Redwell Street Norwich NR2 4SN ## **Trustees** Mrs M Smith (Chair) Mr P Talbot Rev Heather Butcher Rev P G Jordan (resigned October 2023) 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 2023** 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 2023. ## **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 2023** ## **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 deficit of £2,840. ## **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 on 17 June 2024. Margaret Smith Chairman of the Trustees **Norwich Christian Resources Independent Examiner's report For the year ended 30 September 2023** 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 2023 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 2023** |**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**
Funds at 1 October 2022
**Funds at 30 September 2023**|**2023**
2022
**£**
£
**46,982**
58,053
**139,221**
151,809
**-**
4,000
**-**
5,436
**186,203**
219,298
**209,449**
221,210
**852**
1,664
**210,301**
222,874
**(24,098)**
(3,576)
**26,853**
30,429
**2,755**
26,853| |---|---| The notes form part of these financial statements. 7 ## **Norwich Christian Resources** ## **Statement of financial position as at 30 September 2023** |Notes
**Fixed assets**
Tangible assets
8
**Current assets**
Stock
Bank and cash
**Creditors:**
Amounts falling due within one year
9
**Net current (liabilities)/assets**
**Net assets**
**General funds**
Unrestricted
**Total funds**|**2023**
**£**
**5,595**
**24,041**
**8,320**
**32,361**
**(35,201)**
**(2,840)**
**2,755**
**2,755**
**2,755**|2022
£
9,404| |---|---|---| |||39,723
7,508| |||47,231| |||(29,782)| |||17,449| |||26,853| |||26,853| |||26,853| For the financial period ended 30 September 2023 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 17 June 2024. and are signed on its behalf by: Margaret Smith 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 2023** ## **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 2023** ## **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 to meet expenditure. Our turnover continues to decline which has once again has severely impacted our results. We have reduced our expenditure principally by not replacing staff who have left our employment and by taking advantage of a deferral in our rent payments to our landlord which has temporarily improved our cash flow. Our lease is scheduled for renewal in 2024 and providing we can negotiate acceptable terms which together with the support of our members, the Trustees believe that the charity can continue in operation. If any of the conditions change then steps will be taken to dissolve the charity. |**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|**2023**
**£**
**391**
**79,265**
**45,890**
**821**
**70,920**
**-**
**1,118**
**4,378**
**87**
**2,770**
**3,809**|2022
£
100
84,178
42,564
785
81,097
178
2,289
3,351
244
2,301
4,123| |---|---|---| ||**209,449**|221,210| ||**852**|1,664| ||**210,301**|222,874| ## **6 Trustees' remuneration and benefits** The Trustees received no remuneration, benefits or expenses during the year (2022: £nil). There were no related party transactions. **Norwich Christian Resources** 10 ## **Notes to the financial statements (continued) Year ended 30 September 2023** |**7**
**Staff costs**
Wages and salaries
Redundancy costs
Employer pension contributions
During the year the average number of employees was 5 (2022: 7)
**8**
**Tangible fixed assets**
**Cost**
At 1 October 2022
Additions
At 30 September 2023
**Depreciation**
At 1 October 2022
Charge for the year
At 30 September 2023
**Net book value at 30 September 2023**
Net book value at 30 September 2022|**2023**
**£**
**67,980**
**2,940**
**-**|2022
£
81,097
-
178| |---|---|---| ||**70,920**|81,275| |||Plant and
machinery
£
29,450
-| |||29,450| |||20,046
3,809| |||23,855| |||**5,595**| |||9,404| **9 Creditors: amounts falling due within one year** |Trade creditors
Taxation and social security
Accruals and deferred income
Other creditors|**2023**
2022
**£**
£
**9,683**
16,428
**1,848**
2,624
**1,613**
1,613
**22,057**
9,117
**35,201**
29,782| |---|---| ## **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 2024. **Norwich Christian Resources** Appendix ## **Management accounts Year ended 30 September 2023** |**Sales**
Shop
Café
Subscriptions, donations and gift aid
Grants towards heaters
Retail,Leisure and Hospitality grant
**Expenditure**
Purchases-shop
Purchases-café
Wages
Pension contributions
Rent
Rates and water
Insurance
Electricity and gas
Telephone
Post and stationery
Maintenance costs
Accountancy
Waste disposal
Travel and subsistence
IT expenses
Website
Licences
Professional fees
Subscriptions and membership
Bank charges
Advertising
Depreciation
**Net loss**|**2023**
2022
**£**
£
**100,600**
101,763
**38,621**
50,046
**46,982**
58,053
**-**
5,436
**-**
4,000
**186,203**
219,298
**60,360**
63,601
**18,905**
20,577
**70,920**
81,097
**-**
178
**22,000**
23,467
**1,379**
2,116
**3,489**
2,138
**14,439**
7,746
**787**
759
**1,104**
1,109
**4,583**
7,097
**852**
1,664
**1,499**
845
**87**
244
**242**
84
**746**
519
**-**
35
**1,118**
2,289
**821**
785
**2,770**
2,301
**391**
100
**3,809**
4,123
**210,301**
222,874
**(24,098)**
(3,576)| |---|---|