Company Registration No. 07329249
Charity No. 1138706
Transformaton Cornwall
Financial Statements
31 December 2022
## Transformaton Cornwall
Company Informaton For the year ended 31 December 2022
Trustees
Rt Revd Hugh Nelson Nicolas Herian (resigned 9 August 2023) Glyn Jones Donna Birrell Christopher Weston Revd Mark Dunn-Wilson (appointed 23 March 2022) Revd Steven Wild (resigned 30 June 2022) Roger Carson (resigned 30 June 2022) Revd Celia Philips (resigned 30 June 2022) Justin Day (appointed 9 August 2023) Revd Matthew Noble (appointed 9 August 2023)
Company Secretary Revd Andrew Yates (resigned 30 September 2022)
Independent Examiner Sophie Eddy
Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing Kent ME19 4JQ
Registered Ofce Church House Woodlands Court Threemilestone Business Park Truro Cornwall TR4 9NH
## Transformaton Cornwall
## Trustees' Annual Report
For the year ended 31 December 2022
The trustees present their report and accounts for the year ended 31 December 2022.
## Governing Document
Founded in 2010, Transformation Cornwall is a Joint Venture between the Diocese of Truro, the Methodist Church in Cornwall, Churches Together in Cornwall (CTC) and Church Urban Fund (CUF). Our priority is to strengthen and provide capacity building support to faith groups developing social action and outreach in Cornwall, with a particular focus on anti-poverty work.
## Vision, Aims and Objectives
Our vision is to see faith action at the heart of flourishing communities in Cornwall. Our Mission is to strengthen faith based social action in Cornwall.
## We work in three main ways:
- Delivering the Meet the Funders programme.
- One to one support to Cornish faith groups to strengthen their social action.
- Strengthening links between faith based and mainstream organisations.
## Actvites and Achievements
## Meet the Funders
Meet the Funders is an innovative ongoing programme which strengthens community work in Cornwall. Delivered in partnership with the Diocese of Truro, Meet the Funders supports projects that address poverty, exclusion, isolation, and rurality. Open to people and projects of all faiths and none, the programme provides conferences and workshops which give networking opportunities, advice, and support.
The programme begins with a large annual spring event with invited local and national funders and follows with a series of six smaller community workshops. These workshops take participants through the key stages of developing, funding, and sustaining a community social action project. Throughout the programme, we collaborate with former Meet the Funders recipients to share their experiences of inspirational transformation, their project development path, and to help us share and celebrate best practise. We've been running Meet the Funders in various formats for the past 9 years, and it has a solid reputation among participants and funders alike. We remain delighted by our evaluations, attendances, and support from all involved.
One-to-one support to Cornish faith groups and non-faith organisatons to strengthen their social
## acton
Offering bespoke support and guidance to develop and strengthen social action projects in local communities. This assistance might range from clarifying a project's vision to developing and sustaining a project team, identifying possible funders, designing community consultation events, and organisational governance. These requests for assistance come from a diverse range of organisations, many of which work with extremely vulnerable people and many of which are vulnerable themselves.
We have continued work with projects including: SkillSHARE (funding, project design & launch); Hidden Help (governance & funding) & Inspiring Women Network (project development & funding) as well as social media and Worry about Money leaflet training.
Transformaton Cornwall
Trustees' Annual Report (continued) For the year ended 31 December 2022
## Actvites and Achievements (con’t)
## Strengthening links between faith and mainstream organisatons
Our strengthening links work is primarily focused around six main themes in which we are actively engaged: food poverty, mental health, modern slavery, homelessness, financial inclusion, and climate emergency. By utilising our 'Tools for Change' Toolkits, we are also able to respond to major concerns concerning equality and social justice. We are continuing to link faith and mainstream communities around our core themes – particularly food poverty, climate crisis, modern slavery, equality and diversity and mental health.
## Our 2022 Strategic Work & Priorites for 2023
Throughout 2022 Transformation Cornwall continued its strategic work, we:
- Continued our support to the Cornish Foodbanks in their COVID-19 impact response
- Reviewed our Theory of Change
- Developed Worry About Money leaflet in partnership with Trussell Trust, and IFAN
- Carried out a review of our Transformation Cornwall Communication strategies.
- Review on Cornwall Council’s Welfare Assistance Schemes in partnership with other groups
## Our 2023 priorities are:
- Develop a communications strategy
- Continue our support to the Cornish Foodbanks as they respond to the impact of Cost-ofliving crisis and drive forward financial inclusion and a cash-first approach.
- Develop our service user engagement work particularly through our Meet the Funder attendees.
- Develop our work in the fight against Modern Slavery.
## Public Beneft
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and projects.
## Financial review
The charity had an overall surplus of £11,957 for the year ending 31 December 2022 (2021: deficit £230). A surplus of £11,573 has been added to the brought forward unrestricted funds to give a balance at year end of £41,824 and a surplus of £384 has been added to restricted funds to give a balance at year end of £384.
## Level of reserves
The trustees have considered the reserves of the charity. They consider that the balance at the yearend of £42,208 is required to help sustain the operations of the charity over the next twelve months.
## Risk Management
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity and are satisfied that systems are in place to mitigate our exposure to the major risks.
## Transformaton Cornwall
## Trustees' Annual Report (continued)
For the year ended 31 December 2022
## Organisatonal Structure
Trustees meet regularly during the year and are responsible for the strategic direction and policy of the charity. The board of trustees are responsible for the day to day running of the charity.
## Related Parties
There were no related party transactions.
## Small company provisions
This report has been prepared in accordance with the Statement of Recommended Practice: Statement of Recommended Practice for Charities (SORP 2015) and in accordance with the small companies regime (section 419(2)) of the Companies Act 2006.
This report was approved by the Board on the 26th September 2023 and signed on its behalf.
Hugh Nelson (Sep 30, 2023 07:18 GMT+1)
.................................
Rt Revd Hugh Nelson
## Chair
Dated: 26 September 2023
## Transformaton Cornwall
## Statement of Financial Activities
## For the year ended 31[st] December 2022
|Notes
Income
Donations
Interest
Income from Charitable Activities:
Grants and Contracts
Total
Expenditure on:
Charitable Activities
2
Total
Net income/(expenditure)
Total Funds at 1stJanuary 2022
Total funds carried forward|Unrestricted
Funds
£
1,086
131
43,215
44,432
32,859
32,859
11,573
30,251
41,824|Restricted
Funds
£
194
-
28,128
28,322
27,938
27,938
384
-
384|2022
£
1,280
131
71,343
72,754
60,797
60,797
11,957
30,251
42,208|2021
£
1,020
3
54,229
55,252
55,482
55,482
(230)
30,481
30,251|
|---|---|---|---|---|
||||||
|||
|||
## Transformaton Cornwall
## Balance Sheet as at 31[st] December 2022
|Notes
Fixed Assets
3
Current Assets
Cash at Bank
Current Liabilities
Creditors: amounts falling due within 12 months
4
Net Current Assets
Net Assets
Funds employed
5 & 6
Unrestricted Funds
General Funds
Restricted Funds
|2022
£
519
91,281
(49,592)
41,689
42,208
41,824
384
42,208|2021
£
649
32,401
(2,799)
29,602
30,251
30,251
-
30,251|
|---|---|---|
For the year ended 31[st] December 2022:
The company was entitled to the exemption from audit under section 477 of the Companies Act 2006. The members have not requested the company to obtain an audit in accordance with section 476 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibility for complying with the requirements of the act with respect to accounting records and for the preparation of the accounts.
The financial statements were approved and authorised for issue by the trustees on 26[th] September 2023 and signed on their behalf by:
................................. Hugh Nelson (Sep 30, 2023 07:18 GMT+1) Rt Revd Hugh Nelson
Chair
Transformaton Cornwall
Notes to the accounts for the year ended 31[st] December 2022
## 1 Principal 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 year.
## (a) Basis of Preparation
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) 2[nd] edition the Charities Act 2011 and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention.
(b) Fund Accounting
(i) Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
(ii) Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.
(iii) Restricted Funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## (c) Income
Income is included in the Statement of Financial Activities (SoFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
(i) Income received by way of grants, donations and gifts is included in full in the SoFA when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant;
(ii) Donated services and facilities are included at the value to the charity where this can be quantified;
(iii) The values of services provided by volunteers has not been included in these accounts;
(iv) Investment income is included when receivable;
(v) Income from charitable trading activity are accounted for when earned;
(vi) Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
(d) Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered.
(i) Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes;
(ii) Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them;
(iii) All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
(e) Fixed Assets
Fixed assets are written off over the expected useful life of the asset on the reducing balance method at 20% per annum.
Transformaton Cornwall
## Notes to the accounts for the year ended 31[st] December 2022 (cont)
|2 Expenditure on Charitable Activities|2 Expenditure on Charitable Activities|||
|---|---|---|---|
|||2022|2021|
|||£|£|
|Grants||-|500|
|Bank charges||83|124|
|Computer and Internet Expenses||1,866|1,796|
|Depreciation Expense|
|130|162|
|Dues and Subscriptions||831|1,227|
|Event expenses and Room Hire||267|644|
|Independent Examination Fees||(300)|300|
|Insurance Expense||789|560|
|Meals and Entertainment||69|78|
|Miscellaneous Expense||452|111|
|Office Expense: Print Post stationery and photocopying||
782|1,236|
|Payroll Expenses|note 7|
53,825|47,543|
|Professional Fees: Accounts, Book-keeping & Payroll||
475|669|
|Professional Fees: Legal Fees||-|83|
|Travel||1,528|399|
|Training||-|50|
|||60,797|55,482|
|3 Tangible Assets||||
|||Fittings|& Equipment|
||||£|
|Cost:||||
|Balance brought forward and carried forward|||4,105|
|Depreciation:||||
|Balance brought forward|||3,456|
|Charge for the Year|||130|
||||3,586|
|Net book value at 31st|December 2022||519|
|Net book value at 31st|December 2021||649|
|4 Creditors||||
|||2022|
2021|
|||£|£|
|Sundry Creditors||5,074|
2,799|
|Deferred Income – Trussel Trust||44,518|
-|
|||49,592|
2,799|
Transformaton Cornwall
## Notes to the accounts for the year ended 31[st] December 2022 (cont)
|5 Movements in funds
At 31stDecember 2022:
Balance
brought fwd
£
Unrestricted Funds
General Fund
30,251
Restricted Funds
Donation
-
Trussel Trust
-
National Lottery Community Fund
-
RC South West Region
-
Cornwall Community Foundation
-
-
Total
30,251
Comparative figures for 2021
Balance
brought fwd
£
Unrestricted Funds
General Fund
29,981
Restricted Funds
Diocese of Truro
-
National Lottery Community Fund
-
RC South West Region
-
Camelford Childrens Fund
500
500
Total
30,481
6 Analysis of net assets between funds
Tangible Fixed Assets
Current Assets
Current Liabilities
Net assets at 31stDecember 2022|Income Expenditure
£
£
44,432 (32,859)
194 -
6,382 (6,382)
21,046 (21,046)
700 (510)
28,322(27,938)
72,754 (60,797)
IncomeExpenditure
£
£
44,023 (43,753)
706 (706)
10,523 (10,253)
- (500)
11,229 (11,729)
55,252 (55,482)|Balance
Balance
Transfers carried fwd
£
£
-
41,824
-
194
-
-
-
-
-
190
-
384
-
42,208
Balance
Balance
Transfers carried fwd
£
£
-
30,251
-
-
-
-
-
-
-
30,251
General
Restricted
Funds
Funds
£
£
519
-
46,379
44,902
( 5,074) (44,518)
41,824
384|
|---|---|---|
## Transformaton Cornwall
## Notes to the accounts for the year ended 31[st] December 2022 (cont)
## 6 Analysis of net assets between funds (cont)
## Comparative figures for 2021
|Tangible Fixed Assets
Current Assets
Current Liabilities
Net assets at 31stDecember 2021
7 Employee Information
Number of employees
Receiving emoluments of less than £60,000.|General
Restricted
Funds
Funds
£
£
649
-
32,401
-
(2,799)
-
30,251
-
2022
2021
3
3|
|---|---|
The average weekly number of employees during the year were calculated on the basis of average monthly head count.
|monthly head count.|||
|---|---|---|
|Salaries and wages
Social Security Cost
Pension Contribution
8 Trustees Information
Trustees remuneration and expenses
The trustees received no remuneration.
Related Party Transaction:
There were none this year.|£
48,975
3,870
52,845
980
53,825
2022
£
-|£
43,708
2,945
40,653
890
47,543|
|||2021
£
-|
9 Capital Commitments and contingent liabilities There are none at 31[st] December 2022.
## Transformaton Cornwall
## Notes to the accounts for the year ended 31[st] December 2022 (cont)
|10 Prior year comparative Statement of Financial Activities (SOFA)
Unrestricted
Funds
£
Income
Donations
1,020
Interest
3
Income from Charitable Activities:
Grants and Contracts
43,000
Total
44,023
Expenditure on:
Charitable Activities
43,753
Total
43,753
Net income/(expenditure)
270
Total Funds at 1stJanuary 2021
29,981
Total funds carried forward
30,251|Restricted
Funds
£
-
-
11,229
11,229
11,729
11,729
(500)
500
-|2022
£
1,020
3
54,229
55,252
55,482
55,482
(230)
30,481
30,251|
|---|---|---|
## TC Accounts 31 December 2022 for signature
## Final Audit Report
2023-09-30
Created: 2023-09-29 By: Kate Cortez (kate.cortez@truro.anglican.org) Status: Signed Transaction ID: CBJCHBCAABAAEoqdGgOiv3c3uKc9CwFMpob1n63j-axy
## "TC Accounts 31 December 2022 for signature" History
Document created by Kate Cortez (kate.cortez@truro.anglican.org)
2023-09-29 - 10:32:08 GMT- IP address: 86.176.177.55
Document emailed to hugh.nelson@truro.anglican.org for signature
2023-09-29 - 10:32:12 GMT
## Email viewed by hugh.nelson@truro.anglican.org
2023-09-29 - 10:50:47 GMT- IP address: 146.75.168.38
Signer hugh.nelson@truro.anglican.org entered name at signing as Hugh Nelson 2023-09-30 - 06:18:25 GMT- IP address: 5.80.223.195
## Document e-signed by Hugh Nelson (hugh.nelson@truro.anglican.org)
Signature Date: 2023-09-30 - 06:18:27 GMT - Time Source: server- IP address: 5.80.223.195
## Agreement completed.
2023-09-30 - 06:18:27 GMT
Company Registration No. 07329249
Charity No. 1138706
Transformaton Cornwall
Financial Statements
31 December 2022
## Transformaton Cornwall
Company Informaton For the year ended 31 December 2022
Trustees
Rt Revd Hugh Nelson Nicolas Herian (resigned 9 August 2023) Glyn Jones Donna Birrell Christopher Weston Revd Mark Dunn-Wilson (appointed 23 March 2022) Revd Steven Wild (resigned 30 June 2022) Roger Carson (resigned 30 June 2022) Revd Celia Philips (resigned 30 June 2022) Justin Day (appointed 9 August 2023) Revd Matthew Noble (appointed 9 August 2023)
Company Secretary Revd Andrew Yates (resigned 30 September 2022)
Independent Examiner Sophie Eddy
Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing Kent ME19 4JQ
Registered Ofce Church House Woodlands Court Threemilestone Business Park Truro Cornwall TR4 9NH
## Transformaton Cornwall
## Trustees' Annual Report
For the year ended 31 December 2022
The trustees present their report and accounts for the year ended 31 December 2022.
## Governing Document
Founded in 2010, Transformation Cornwall is a Joint Venture between the Diocese of Truro, the Methodist Church in Cornwall, Churches Together in Cornwall (CTC) and Church Urban Fund (CUF). Our priority is to strengthen and provide capacity building support to faith groups developing social action and outreach in Cornwall, with a particular focus on anti-poverty work.
## Vision, Aims and Objectives
Our vision is to see faith action at the heart of flourishing communities in Cornwall. Our Mission is to strengthen faith based social action in Cornwall.
## We work in three main ways:
- Delivering the Meet the Funders programme.
- One to one support to Cornish faith groups to strengthen their social action.
- Strengthening links between faith based and mainstream organisations.
## Actvites and Achievements
## Meet the Funders
Meet the Funders is an innovative ongoing programme which strengthens community work in Cornwall. Delivered in partnership with the Diocese of Truro, Meet the Funders supports projects that address poverty, exclusion, isolation, and rurality. Open to people and projects of all faiths and none, the programme provides conferences and workshops which give networking opportunities, advice, and support.
The programme begins with a large annual spring event with invited local and national funders and follows with a series of six smaller community workshops. These workshops take participants through the key stages of developing, funding, and sustaining a community social action project. Throughout the programme, we collaborate with former Meet the Funders recipients to share their experiences of inspirational transformation, their project development path, and to help us share and celebrate best practise. We've been running Meet the Funders in various formats for the past 9 years, and it has a solid reputation among participants and funders alike. We remain delighted by our evaluations, attendances, and support from all involved.
One-to-one support to Cornish faith groups and non-faith organisatons to strengthen their social
## acton
Offering bespoke support and guidance to develop and strengthen social action projects in local communities. This assistance might range from clarifying a project's vision to developing and sustaining a project team, identifying possible funders, designing community consultation events, and organisational governance. These requests for assistance come from a diverse range of organisations, many of which work with extremely vulnerable people and many of which are vulnerable themselves.
We have continued work with projects including: SkillSHARE (funding, project design & launch); Hidden Help (governance & funding) & Inspiring Women Network (project development & funding) as well as social media and Worry about Money leaflet training.
Transformaton Cornwall
Trustees' Annual Report (continued) For the year ended 31 December 2022
## Actvites and Achievements (con’t)
## Strengthening links between faith and mainstream organisatons
Our strengthening links work is primarily focused around six main themes in which we are actively engaged: food poverty, mental health, modern slavery, homelessness, financial inclusion, and climate emergency. By utilising our 'Tools for Change' Toolkits, we are also able to respond to major concerns concerning equality and social justice. We are continuing to link faith and mainstream communities around our core themes – particularly food poverty, climate crisis, modern slavery, equality and diversity and mental health.
## Our 2022 Strategic Work & Priorites for 2023
Throughout 2022 Transformation Cornwall continued its strategic work, we:
- Continued our support to the Cornish Foodbanks in their COVID-19 impact response
- Reviewed our Theory of Change
- Developed Worry About Money leaflet in partnership with Trussell Trust, and IFAN
- Carried out a review of our Transformation Cornwall Communication strategies.
- Review on Cornwall Council’s Welfare Assistance Schemes in partnership with other groups
## Our 2023 priorities are:
- Develop a communications strategy
- Continue our support to the Cornish Foodbanks as they respond to the impact of Cost-ofliving crisis and drive forward financial inclusion and a cash-first approach.
- Develop our service user engagement work particularly through our Meet the Funder attendees.
- Develop our work in the fight against Modern Slavery.
## Public Beneft
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and projects.
## Financial review
The charity had an overall surplus of £11,957 for the year ending 31 December 2022 (2021: deficit £230). A surplus of £11,573 has been added to the brought forward unrestricted funds to give a balance at year end of £41,824 and a surplus of £384 has been added to restricted funds to give a balance at year end of £384.
## Level of reserves
The trustees have considered the reserves of the charity. They consider that the balance at the yearend of £42,208 is required to help sustain the operations of the charity over the next twelve months.
## Risk Management
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity and are satisfied that systems are in place to mitigate our exposure to the major risks.
## Transformaton Cornwall
## Trustees' Annual Report (continued)
For the year ended 31 December 2022
## Organisatonal Structure
Trustees meet regularly during the year and are responsible for the strategic direction and policy of the charity. The board of trustees are responsible for the day to day running of the charity.
## Related Parties
There were no related party transactions.
## Small company provisions
This report has been prepared in accordance with the Statement of Recommended Practice: Statement of Recommended Practice for Charities (SORP 2015) and in accordance with the small companies regime (section 419(2)) of the Companies Act 2006.
This report was approved by the Board on the 26th September 2023 and signed on its behalf.
Hugh Nelson (Sep 30, 2023 07:18 GMT+1)
.................................
Rt Revd Hugh Nelson
## Chair
Dated: 26 September 2023
## Transformaton Cornwall
## Statement of Financial Activities
## For the year ended 31[st] December 2022
|Notes
Income
Donations
Interest
Income from Charitable Activities:
Grants and Contracts
Total
Expenditure on:
Charitable Activities
2
Total
Net income/(expenditure)
Total Funds at 1stJanuary 2022
Total funds carried forward|Unrestricted
Funds
£
1,086
131
43,215
44,432
32,859
32,859
11,573
30,251
41,824|Restricted
Funds
£
194
-
28,128
28,322
27,938
27,938
384
-
384|2022
£
1,280
131
71,343
72,754
60,797
60,797
11,957
30,251
42,208|2021
£
1,020
3
54,229
55,252
55,482
55,482
(230)
30,481
30,251|
|---|---|---|---|---|
||||||
|||
|||
## Transformaton Cornwall
## Balance Sheet as at 31[st] December 2022
|Notes
Fixed Assets
3
Current Assets
Cash at Bank
Current Liabilities
Creditors: amounts falling due within 12 months
4
Net Current Assets
Net Assets
Funds employed
5 & 6
Unrestricted Funds
General Funds
Restricted Funds
|2022
£
519
91,281
(49,592)
41,689
42,208
41,824
384
42,208|2021
£
649
32,401
(2,799)
29,602
30,251
30,251
-
30,251|
|---|---|---|
For the year ended 31[st] December 2022:
The company was entitled to the exemption from audit under section 477 of the Companies Act 2006. The members have not requested the company to obtain an audit in accordance with section 476 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibility for complying with the requirements of the act with respect to accounting records and for the preparation of the accounts.
The financial statements were approved and authorised for issue by the trustees on 26[th] September 2023 and signed on their behalf by:
................................. Hugh Nelson (Sep 30, 2023 07:18 GMT+1) Rt Revd Hugh Nelson
Chair
Transformaton Cornwall
Notes to the accounts for the year ended 31[st] December 2022
## 1 Principal 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 year.
## (a) Basis of Preparation
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) 2[nd] edition the Charities Act 2011 and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention.
(b) Fund Accounting
(i) Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
(ii) Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.
(iii) Restricted Funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## (c) Income
Income is included in the Statement of Financial Activities (SoFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
(i) Income received by way of grants, donations and gifts is included in full in the SoFA when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant;
(ii) Donated services and facilities are included at the value to the charity where this can be quantified;
(iii) The values of services provided by volunteers has not been included in these accounts;
(iv) Investment income is included when receivable;
(v) Income from charitable trading activity are accounted for when earned;
(vi) Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
(d) Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered.
(i) Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes;
(ii) Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them;
(iii) All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
(e) Fixed Assets
Fixed assets are written off over the expected useful life of the asset on the reducing balance method at 20% per annum.
Transformaton Cornwall
## Notes to the accounts for the year ended 31[st] December 2022 (cont)
|2 Expenditure on Charitable Activities|2 Expenditure on Charitable Activities|||
|---|---|---|---|
|||2022|2021|
|||£|£|
|Grants||-|500|
|Bank charges||83|124|
|Computer and Internet Expenses||1,866|1,796|
|Depreciation Expense|
|130|162|
|Dues and Subscriptions||831|1,227|
|Event expenses and Room Hire||267|644|
|Independent Examination Fees||(300)|300|
|Insurance Expense||789|560|
|Meals and Entertainment||69|78|
|Miscellaneous Expense||452|111|
|Office Expense: Print Post stationery and photocopying||
782|1,236|
|Payroll Expenses|note 7|
53,825|47,543|
|Professional Fees: Accounts, Book-keeping & Payroll||
475|669|
|Professional Fees: Legal Fees||-|83|
|Travel||1,528|399|
|Training||-|50|
|||60,797|55,482|
|3 Tangible Assets||||
|||Fittings|& Equipment|
||||£|
|Cost:||||
|Balance brought forward and carried forward|||4,105|
|Depreciation:||||
|Balance brought forward|||3,456|
|Charge for the Year|||130|
||||3,586|
|Net book value at 31st|December 2022||519|
|Net book value at 31st|December 2021||649|
|4 Creditors||||
|||2022|
2021|
|||£|£|
|Sundry Creditors||5,074|
2,799|
|Deferred Income – Trussel Trust||44,518|
-|
|||49,592|
2,799|
Transformaton Cornwall
## Notes to the accounts for the year ended 31[st] December 2022 (cont)
|5 Movements in funds
At 31stDecember 2022:
Balance
brought fwd
£
Unrestricted Funds
General Fund
30,251
Restricted Funds
Donation
-
Trussel Trust
-
National Lottery Community Fund
-
RC South West Region
-
Cornwall Community Foundation
-
-
Total
30,251
Comparative figures for 2021
Balance
brought fwd
£
Unrestricted Funds
General Fund
29,981
Restricted Funds
Diocese of Truro
-
National Lottery Community Fund
-
RC South West Region
-
Camelford Childrens Fund
500
500
Total
30,481
6 Analysis of net assets between funds
Tangible Fixed Assets
Current Assets
Current Liabilities
Net assets at 31stDecember 2022|Income Expenditure
£
£
44,432 (32,859)
194 -
6,382 (6,382)
21,046 (21,046)
700 (510)
28,322(27,938)
72,754 (60,797)
IncomeExpenditure
£
£
44,023 (43,753)
706 (706)
10,523 (10,253)
- (500)
11,229 (11,729)
55,252 (55,482)|Balance
Balance
Transfers carried fwd
£
£
-
41,824
-
194
-
-
-
-
-
190
-
384
-
42,208
Balance
Balance
Transfers carried fwd
£
£
-
30,251
-
-
-
-
-
-
-
30,251
General
Restricted
Funds
Funds
£
£
519
-
46,379
44,902
( 5,074) (44,518)
41,824
384|
|---|---|---|
## Transformaton Cornwall
## Notes to the accounts for the year ended 31[st] December 2022 (cont)
## 6 Analysis of net assets between funds (cont)
## Comparative figures for 2021
|Tangible Fixed Assets
Current Assets
Current Liabilities
Net assets at 31stDecember 2021
7 Employee Information
Number of employees
Receiving emoluments of less than £60,000.|General
Restricted
Funds
Funds
£
£
649
-
32,401
-
(2,799)
-
30,251
-
2022
2021
3
3|
|---|---|
The average weekly number of employees during the year were calculated on the basis of average monthly head count.
|monthly head count.|||
|---|---|---|
|Salaries and wages
Social Security Cost
Pension Contribution
8 Trustees Information
Trustees remuneration and expenses
The trustees received no remuneration.
Related Party Transaction:
There were none this year.|£
48,975
3,870
52,845
980
53,825
2022
£
-|£
43,708
2,945
40,653
890
47,543|
|||2021
£
-|
9 Capital Commitments and contingent liabilities There are none at 31[st] December 2022.
## Transformaton Cornwall
## Notes to the accounts for the year ended 31[st] December 2022 (cont)
|10 Prior year comparative Statement of Financial Activities (SOFA)
Unrestricted
Funds
£
Income
Donations
1,020
Interest
3
Income from Charitable Activities:
Grants and Contracts
43,000
Total
44,023
Expenditure on:
Charitable Activities
43,753
Total
43,753
Net income/(expenditure)
270
Total Funds at 1stJanuary 2021
29,981
Total funds carried forward
30,251|Restricted
Funds
£
-
-
11,229
11,229
11,729
11,729
(500)
500
-|2022
£
1,020
3
54,229
55,252
55,482
55,482
(230)
30,481
30,251|
|---|---|---|
## TC Accounts 31 December 2022 for signature
## Final Audit Report
2023-09-30
Created: 2023-09-29 By: Kate Cortez (kate.cortez@truro.anglican.org) Status: Signed Transaction ID: CBJCHBCAABAAEoqdGgOiv3c3uKc9CwFMpob1n63j-axy
## "TC Accounts 31 December 2022 for signature" History
Document created by Kate Cortez (kate.cortez@truro.anglican.org)
2023-09-29 - 10:32:08 GMT- IP address: 86.176.177.55
Document emailed to hugh.nelson@truro.anglican.org for signature
2023-09-29 - 10:32:12 GMT
## Email viewed by hugh.nelson@truro.anglican.org
2023-09-29 - 10:50:47 GMT- IP address: 146.75.168.38
Signer hugh.nelson@truro.anglican.org entered name at signing as Hugh Nelson 2023-09-30 - 06:18:25 GMT- IP address: 5.80.223.195
## Document e-signed by Hugh Nelson (hugh.nelson@truro.anglican.org)
Signature Date: 2023-09-30 - 06:18:27 GMT - Time Source: server- IP address: 5.80.223.195
## Agreement completed.
2023-09-30 - 06:18:27 GMT
## **Independent examiner’s report to the trustees of Transformation Cornwall**
I report to the trustees on my examination of the accounts of Transformation Cornwall for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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.
Signed:
Name: Sophie Eddy
Relevant professional qualification: FCA
Address: Mayfield House, Trencrom Lane, Carbis Bay
Date: 23 September 2023