Company number: 7737871 Charity Number: 1147150
Cre8 Macclesfield Ltd
Report and financial statements For the year ended 31st August 2022
Cre8 Macclesfield Ltd
Reference and administrative information
for the year ended 31st August 2022
Company number 7737871 Charity number 1147150
Registered office and operational address The House 11 Belgrave Road Macclesfield Cheshire SK11 7TW
Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
James Andrew Booth Jared Brown Martin Clarke (Resigned 31/08/2022) Ameera Fletcher Jennifer Hardy Chair Peter Munro Adam Small Ruth Thompson Laura Mummery (Appointed 18/07/2022) Secretary Katy Wardle Key management personnel Jonathan Aiken Keirra Bexon Ameera Fletcher Director Oliver Gibson (resigned 20/08/2022) Sarah Postlewhite Emma Thomas Katy Wardle Bankers Unity Trust Bank Nine Brindleyplace Birmingham B1 2HB Independent Christy Lau FCCA CTA DChA examiner Slade and Cooper Beehive Mill Jersey St Ancoats Manchester M4 6JG
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Cre8 Macclesfield Ltd
Trustees’ annual report
for the year ended 31st August 2022
The trustees present their report and the unaudited financial statements for the year ended 31st August 2022. Included within the trustees’ report is the directors’ report as required by company law.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Objectives and activities
Objects
The charitable purposes of the company remain:
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To advance the Christian faith for the public benefit;
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To act as a resource for young people living in Macclesfield and the surrounding area by providing advice and assistance and organising programmes of physical, educational and other activities to help young people develop their skills, capacities and capabilities, advancing education, relieving unemployment, and providing recreational and leisure activity;
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To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of such people who are socially excluded and assisting them to integrate into society.
Activities
Cre8 Music: Funded through “Youth Music” and “Love Music Trust” our project focussed on music making, and continued to build on over 10 years delivery of specialist one to one music tuition with young people who wouldn’t be able to access private paid lessons and group music making. Due to a gap in funding we were successful in securing funding from “Cheshire Community Foundation” to continue music making activities and to ensure continuity for our service users between January and April, when we successfully secured additional “Youth Music” Funding. Musical activities included setting up a band for a fund-raising Ceilidh to allow young people to go on a summer residential trip to Scotland, facilitating young people writing original songs, workshops to create protest songs and create one about the situation in Ukraine, started a samba group to work on rhythm and movement as well as playing together, combining music and art to draw pictures of what different pieces of music sound like, encouraging listening and exposure to new types of music. We enabled new participants to create music in our studio and learn about production and recording. We started a beginner ukulele group for new participants to be able to learn basic musical concepts and enjoy playing together.
We have seen the additional benefit of reducing anti-social behaviour by providing young people with a place to go after school. We have provided nutritious snacks and drinks through Cre8’s surplus food project to make sure that young people’s basic needs are met before they engage in any musical activities.
Cheadle Royal Hospital Trust Funding: Our collaborative project delivered with Just Drop In and Wilmslow Youth has focussed on training volunteers and staff, and providing mentoring to support our young people.
Cheshire Community Fund: Various youth work projects were funded which enabled young people and community members to engage in a range of activities, we delivered a music & arts jubilee celebration collaborating with a local dance group and our Cre8 Music project young people, we had a community feast, and also supported through Cheshire Minds Matter funded a local singing group which
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Cre8 Macclesfield Ltd
Trustees’ annual report
for the year ended 31st August 2022
visited a local day care centre, and also an outdoor swimming group which focussed on improving mental health & well-being.
C0-OP Local Community Fund: Our project focussed on practical skills which included building planters, painting bird-boxes, and building benches, the project brought together people across the community to improve well-being and improve community spaces.
Learning Plus: This is a one-to-one alternative education package offered to all local schools. We engage young people in youth work by working alongside them to tailor session to suit their interests and needs. We work with them to improve target areas in building self-esteem, improving behaviour management and learning, increasing basic social skills with the aim of getting them back into school with increased confidence and new skills. We worked with 14 young people on a one to one basis throughout this year.
Clubs: We run two youth clubs weekly a primary age club and an older 11-16 club, with traditional activities focussing on having fun together, preparing and eating food, engaging in sport and art activities and going on trips as a group. Both clubs have a strong membership and have benefitted from a team of dedicated and committed volunteers to support the staff team and to ensure delivery to the local community.
Residentials: These activities were supported through fundraising and some grant funding, we successfully delivered two residentials one to Camas with the older young people, and a residential to a farm in Wales for primary aged young people.
Cre8 Enterprise: This initiative continues to deliver small projects with at risk young people. Working intensively through 1-2-1 work, we engage young people who may not have engaged with school or other Cre8 groups, we provide a safe space to develop skills and improve mental and physical health. Projects include DIY tasks at the Cre8 buildings, clearing and maintenance work on Cre8 sheds, and Christmas Tree selling.
For the second time we ran a successful Christmas Tree selling enterprise throughout December 2021. We were able to provide about 30 hours of employment for young people, making £1000 surplus, and helping make new contacts with people in Macclesfield.
Cre8 Facilities This is our social enterprise business delivering a high-standard fleet washing service to Creamline Dairies in Manchester and Peaks and Plains in Macclesfield. Cre8 has delivered the commercial contract for Creamline Dairies for the past eight years. The work ensures that Creamline vehicles, including its milk floats and vans, are cleaned and jet-washed on a two-weekly cycle. This year we have managed to adjust timetables and recruit young people so that we are employing approximately three different young people on this project during a two-week cycle.
Our contract with Peaks and Plains Housing Trust started about 1.5 years ago washing the fleet of vans at the back of St.Barnabas Church. Through this work we've been able to give employment to a number of young people and one long standing young person has now become the team leader on this project. We have been supported by Peaks & Plains in the maintenance of our Community Building where we deliver our music project this has been greatly appreciated.
Project Grow 2021/2022 marked the third year of Project Grow, funded by The National Lottery Community Fund. The project recognises and mobilises our local talents while also building on our years of community experience. Our third year as we build back following the COVID pandemic has seen increased numbers of households accessing our service, and we are looking for how we can support other local communities to deliver their own grocery provision in 2022/23 supported by our team. We were able to deliver and support the BIG GIVE which was supported well across the community, and we also delivered Christmas presents donated by both individuals and corporate donors.
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Cre8 Macclesfield Ltd
Trustees’ annual report
for the year ended 31st August 2022
The Award-winning Garden and Allotment at St Barnabas Church was a great asset during the pandemic providing a large safe outdoor space for people to meet. It has continued to be a space our communities have used for a whole host of gatherings including meetings, parties, and celebrations, as well as a place to relax and reflect, as well as garden and learn new skills.
Achievements and performance
The charity’s main activities and its main beneficiaries are described below. All its charitable activities are undertaken to further Cre8 Macclesfield’s charitable purposes for the public benefit.
Over the past 16 years, we believe we have built capacity, resilience and developed a self-help model that reduces what corrodes the emotional, physical and spiritual well-being of people in our community. We have done this by raising self-esteem, self-worth, self-confidence and have consciously built a sense of community. This year we have continued our partnership work with Just Drop-In and Wilmslow Youth as part of the mentoring and training project.
We continue to develop our people and delivered Youth Mental Health First Aid Training in-house to staff and volunteers with a certified staff member able to deliver future courses to the community. We maintain focus on developing our youth work staff team and volunteers following the national youth work curriculum.
Our operational performance and achievements have included continued investment in Social Enterprise, which continues to provide meaningful work opportunities for young people who live locally. Adapting our Project Grow to deliver food to those who need it most, both within our local community as well as across Macclesfield, and continuing to support the establishment of a Food Network Partnership across Macclesfield.
We have successfully delivered Clubs and Residentials for young people, and seen our numbers increase to a capacity level for both clubs, and residentials are over-subscribed. We have tutored young people and supported them to deliver professional music performances. Continued to work with Creamline Dairies through Cre8 Facilities, retaining our contract with PPHT to wash their vehicles, and delivered our Christmas Tree enterprise project for its second successive year.
We give thanks to our major funders; Cheshire Community Foundation, CO-OP Local Community Fund, National Lottery Community Fund, Macclesfield Town Council, and Cheshire East Council.
We continuously appreciate the support of all our individual donors, and all the volunteers who provide their time to support our community to enable change to happen.
The trustees review the aims, objectives and activities of the charity regularly. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The trustees 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 its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
The review also helps the trustees ensure the charity’s aims, objectives and activities remained focused on its stated purposes. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. All current trustees have confirmed that they have read CC03 with respect to understanding their roles and responsibilities as trustees. Several trustees have
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Cre8 Macclesfield Ltd
Trustees’ annual report
for the year ended 31st August 2022
attended virtual training related to Charity Governance and have reported back to the trustee team. All trustees attend Safeguarding training each year.
Beneficiaries of our services
There are three geographical categories of beneficiaries of our services.
Young people and their families living on the Moss Rose Estate have benefited from our clubs and residentials, the music project and Project Grow.
Young people and their families living in Macclesfield have benefited from our Cre8 Facilities and social enterprise businesses, and the service provided by the Surplus Food Grocery as a result of the National Lottery Funding – Project Grow.
Young people and their families from Cheshire East have benefited from our Learning Plus project.
Financial review
Cre8 made an overall deficit of £48k in the 2022 financial year (2021: surplus of £30k), in line with budgeted expectations.
Income reduced by 23%, reflecting an anticipated downturn in general donations (2021 saw a number of one off donations, plus two years of donations from Cre8 Facilities) and also in grant income.
Costs reduced minimally from 2021 reflecting the fixed nature of many of the charity's areas of expenditure.
The trustees have again prudently budgeted for a deficit in 2022/23. However, we remain encouraged by the stable foundation that Cre8 has established and expect to deliver a much-reduced deficit in 2022/23. As such, we believe that we will have sufficient reserves at August 2023 to comply with our reserves policy (see below).
In summary, total funds reduced by £48k in 2022 (2021: £30k increase). At the end of the year total funds stood at £140k (2021: £188k) with cash reserves at £118k (2021: £170k).
Reserves policy
The current policy (set out in 2018) is to maintain unrestricted reserves at a minimum of 6 months budgeted net costs of £103,311. As at August 2022, unrestricted reserves had reduced to 6.8 months (£116,868) of budgeted net cost (2021: 9.6 months).
Plans for the future
We agreed and reviewed our vision & mission statements as follows:
Our Vision: Cre8 is at the heart of a vibrant and flourishing community - Moss Ross Estate.
Our mission: We strengthen local connections and enable our community to make change happen for themselves and for their neighbourhood.
We continue to focus on three strategic priorities:
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To continue delivering the highest quality professional youth and community work
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To provide support to others who want to do good things in our community
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To connect people together who want to do good things in our community
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Cre8 Macclesfield Ltd
Trustees’ annual report
for the year ended 31st August 2022
We will proactively seek to develop social enterprise work, and explore possibilities for paid employment opportunities for the hardest to reach young people in our community. Learning from our experience, we will continue to exploit Project Grow across Macclesfield. Our youth work team are delivering small group activities as well as residentials’ later in the year. We anticipate ongoing demand for our Learning Plus project from referring agencies and we look forward to ongoing musical activities in the future. Our focus is firmly on building up our youth work team as we look to explore a youth work apprenticeship role in the future.
Structure, governance and management
The Trustees are selected to ensure an appropriate balance of skills and experience and involvement in the local area. We have an established Trustee team, which has remained constant over the last year, and who have specialist skills including Finance, Law, Social Care, Youth Work and Health.
Recruitment of Trustees follows Cre8’s Volunteering Policy and Procedures. We have advertised for Trustees with specific skills, utilizing local advertising groups such as Cheshire East Community & Voluntary Services. Once an enquiry has been made, the potential Trustee meets separately with the Director and the Chair of Trustees, before completing an application form, references, confidential selfdeclaration form and DBS check. The appointment of a person as a Trustee is subject to approval by the Trustees at a Board meeting.
The Board of Trustees comprises a minimum of five Trustees.
The organisation is a charitable company limited by guarantee, incorporated on 11 August 2011 and registered as a charity on 4 May 2012.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The Trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts.
Related parties and relationships with other organisations
Cre8 Works Ltd and Cre8 Facilities Ltd are wholly owned subsidiaries of Cre8 Macclesfield Ltd.
Remuneration policy for key management personnel
Cre8 operates a pay-scale that includes 7 pay grades. The grades and job descriptions are benchmarked to national data available for our industry sector.
Risk management
The Trustees meet 6 times a year where they consider and approve financial reports prepared by Treasurer and revised Finance & HR Committee. We operate a reserves policy of a minimum of 6 months budgeted net cost (see Reserves Policy above).
Trustees have identified a number of key risk areas, which the Finance & HR Committee review quarterly, and for the high-risk areas, Trustees require a report from the Director that addresses these areas at a Trustee meeting in March & September.
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Cre8 Macclesfield Ltd
Trustees’ annual report
for the year ended 31st August 2022
Statement of responsibilities of the trustees
The trustees (who are also directors of Cre8 Macclesfield Ltd for the purposes of company law) are responsible for preparing the trustees’ annual report 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgements and estimates that are reasonable and prudent
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.
The trustees’ annual report has been approved by the trustees on ___ and signed on their behalf by
Jenni Hardy
Chair
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Independent examiner’s report
to the trustees of
Cre8 Macclesfield Ltd
I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] August 2022 which are set out on pages 9 to 28.
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
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Christy Lau FCCA CTA DChA
Slade & Cooper Limited Slade & Cooper Ltd Beehive Mill, Jersey Street, Ancoats Manchester, M4 6JG DATE
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Cre8 Macclesfield Ltd
Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 August 2022
| Unrestricted funds Note £ Income from: Donations and legacies 3 70,748 Charitable activities 4 107,941 Investments 5 12,692 Total income 191,381 Expenditure on: Charitable activities 6 206,620 Total expenditure 206,620 (15,239) 8 (15,239) Net movement in funds for the year (15,239) Reconciliation of funds Total funds brought forward 132,107 Total funds carried forward 116,868 Net income/(expenditure) before net gains/(losses) on investments Net income/(expenditure) for the year |
Restricted funds £ - 88,474 - 88,474 121,715 121,715 (33,241) (33,241) (33,241) 56,277 23,036 |
Total funds 2022 £ 70,748 196,415 12,692 279,855 328,335 328,335 (48,480) (48,480) (48,480) 188,384 139,904 |
Total funds 2021 £ 110,853 235,902 18,251 |
|---|---|---|---|
| 365,006 | |||
| 334,680 | |||
| 334,680 | |||
| 30,326 | |||
| 30,326 | |||
| 30,326 158,058 |
|||
| 188,384 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
A full comparative SOFA is available on the last page of the financial statements.
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Cre8 Macclesfield Ltd Company number 7737871
Balance sheet as at 31 August 2022
| Note £ £ Fixed assets Tangible assets 14 23,948 Current assets Debtors 15 7,851 Cash at bank and in hand 16 117,585 Total current assets 125,436 Liabilities Creditors: amounts falling due in less than one year 17 (9,480) Net current assets 115,956 Total assets less current liabilities 139,904 Net assets 139,904 The funds of the charity: Restricted income funds 18 23,036 Unrestricted income funds 19 116,868 Total charity funds 139,904 2022 |
£ £ 12,803 20,421 170,144 190,565 (14,984) 175,581 188,384 188,384 56,277 132,107 188,384 2021 |
£ £ 12,803 20,421 170,144 190,565 (14,984) 175,581 188,384 188,384 56,277 132,107 188,384 2021 |
|---|---|---|
| 188,384 | ||
| 188,384 | ||
| 56,277 132,107 |
||
| 188,384 |
For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes on pages 12 to 28 form part of these accounts.
Approved by the trustees on //2023 and signed on their behalf by:
Ameera Fletcher (Trustee)
Laura Mummery (Trustee)
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Cre8 Macclesfield Ltd
Statement of Cash Flows for the year ending 31 August 2022
| Note 2022 £ Cash provided by/(used in) operating activities 21 (47,251) Cash flows from investing activities: Dividends, interest, and rents from investments 12,692 Purchase of tangible fixed assets (18,000) Cash provided by/(used in) investing activities (5,308) (52,559) Cash and cash equivalents at the beginning of the year 170,144 Cash and cash equivalents at the end of the year 117,585 Increase/(decrease) in cash and cash equivalents in the year |
2021 £ 7,243 |
|---|---|
| 18,251 (3,396) |
|
| 14,855 | |
| 22,098 148,046 |
|
| 170,144 |
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022
1 Accounting policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a Basis of preparation
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), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Cre8 Macclesfield Ltd meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
b Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
The trustees have made no key judgments which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
c Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
d Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
f Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
g Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs.
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Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h Tangible fixed assets
Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
IT Software 33% Motor Vehicles 33% or the duration of a project where a vehicle relates to a specific projecct.
i Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
j Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
k Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
l Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
m Pensions
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 9. There were £nil outstanding contributions at the year end (2021: £74).
2 Legal status of the charity
The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.
3 Income from donations and legacies
| Donations General Oliver Valves Total Previous Reporting Period Donations General Oliver Valves Cheshire East Council- Total Retail Hospitality & Leisure Grant |
Unrestricted £ 40,748 30,000 70,748 Unrestricted £ 60,853 30,000 20,000 110,853 |
Restricted £ - - - Restricted £ - - - - |
Total 2022 £ 40,748 30,000 |
|---|---|---|---|
| 70,748 | |||
| Total 2021 £ 60,853 30,000 20,000 |
|||
| 110,853 |
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
4 Income from charitable activities
| Grants and contracts The Swallow Trust Youth Music Cheshire Community Foundation Co-op Local Cause Love Music Trust Cheadle Royal Hospital Trust MTC Jubilee Fees and other income Contract Work Fund Raising Other income Total CCF Camas 2022 The National Lottery Community Fund CCF Jubilee Fund CCF Music |
Unrestricted £ 37,500 - - - - - - - 2,000 1,000 40,500 39,433 2,571 25,437 67,441 107,941 |
Restricted £ - 21,679 2,500 2,000 4,457 53,339 2,999 1,500 - - 88,474 - - - - 88,474 |
Total 2022 £ 37,500 21,679 2,500 2,000 4,457 53,339 2,999 1,500 2,000 1,000 |
|---|---|---|---|
| 128,974 | |||
| 39,433 2,571 25,437 |
|||
| 67,441 | |||
| 196,415 |
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
4 Income from charitable activities (Continued)
| Previous Reporting Period Grants and contracts The Swallow Trust Youth Music Cheshire Community Foundation - COVID-19 Response Small Groups Minds Matter Co-op Food Poverty Co-op Local Cause Just Drop In Love Music Trust Fees and other income Contract Work Fund Raising Other income Total 5 Investment income Income from bank deposits Gift aid from Subsidiary Cheshire East Council - The National Lottery Community Fund South West Peak Landscape Partnership COVID-19 Response Rank Foundation Police Crime Commissioner Cheshire |
Unrestricted £ 12,500 - 2,500 - - 3,500 - - - - - - 18,500 34,881 4,429 29,236 68,546 87,046 |
Restricted £ - 30,417 - 14,483 4,931 50,986 - 26,470 1,820 997 9,752 7,500 1,500 148,856 - - - - 148,856 2022 £ 203 12,489 12,692 |
Total 2021 £ 12,500 30,417 2,500 14,483 4,931 50,986 3,500 26,470 1,820 997 9,752 7,500 1,500 |
|---|---|---|---|
| 167,356 | |||
| 34,881 4,429 29,236 |
|||
| 68,546 | |||
| 235,902 | |||
| 2021 £ - 18,251 |
|||
| 18,251 |
All investment income is unrestricted.
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
6 Analysis of expenditure on charitable activities
| Subcontractors Repairs and Maintenance Residential and Catering Activities, materials and resources Other Professional fees Governance costs (see note 7) Restricted expenditure Unrestricted expenditure 7 Analysis of governance costs Accountancy services Administration Equipment Depreciation Staff costs Volunteers Miscellaneous Insurance Premises Travel |
Total 2022 £ 236,155 15,607 2,108 6,159 2,524 11,273 6,553 5,005 6,551 2,704 9,216 3,587 11,842 6,855 2,196 328,335 2022 £ 121,715 206,620 328,335 2022 £ 2,196 2,196 |
Total 2021 £ 240,550 9,956 4,846 5,298 6,328 4,043 17,985 6,728 8,472 5,088 9,279 4,362 4,103 5,446 2,196 |
|---|---|---|
| 334,680 | ||
| 2021 £ 143,908 190,772 |
||
| 334,680 | ||
| 2021 £ 2,196 |
||
| 2,196 |
18
Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
8 Net income/(expenditure) for the year
| This is stated after charging/(crediting): Depreciation Independent examination Accountancy Staff costs Staff costs during the year were as follows: Wages and salaries Social security costs Pension costs Independent examiner's fee |
2022 £ 6,855 750 1,080 2022 £ 217,354 11,686 7,115 236,155 |
2021 £ 5,446 750 1,080 |
|---|---|---|
| 2021 £ 221,516 12,150 6,884 |
||
| 240,550 |
9 Staff costs
During the year £20,263 (2021: £8,879) of the above costs were recharged to one of the charity's subsidiaries.
No employee has employee benefits in excess of £60,000 (2021: Nil).
The average number of staff employed during the period was 20.7 (2021: 20.6). The average full time equivalent number of staff employed during the period was 10.9 (2021: 9.7).
The key management personnel of the charity comprise the trustees and senior management of the charity. The total employee benefits of the key management personnel of the charity were £175,571 (2021: £189,643).
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
10 Trustee remuneration and expenses
One trustee, Ameera Fletcher, was paid as an employee by the charity in the year. Ameera Fletcher was paid as an employee £50,241 (2021: £49,845) by the charity in the year.
The employment of Ameera Fletcher is in accordance with the governing document of the charity.
No other trustees, nor any persons connected with them received any remuneration or reimbursed expenses during the year (2021: £nil).
One trustee received travel and subsistence expenses of £94 during the year (2021:£nil).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year.
11 Related party transactions
The charity has two subsidiaries:-
-
Cre8 Works Ltd, a company limited by guarantee, company number 07737881.
-
Cre8 Facilities Limited, a company limited by guarantee, company number 09237866.
Cre8 Facilities Limited
| Cre8 Facilities Limited | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Transactions in the period comprised: | ||
| Gift Aid payment from subsidiary | 12,489 | 18,251 |
| Recharge of expenses to subsidiary | 22,823 | 10,862 |
| Balance owed by/(to) the subsidiary at period end | 1,490 | 818 |
In accordance with guidance from the Financial Reporting Council in December 2017, the subsidiary no longer accrues the gift aid payment within its accounts. The payment to the parent charity will still be made within 9 months of the year end.
20
Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
12 Government grants
The government grants recognised in the accounts were as follows:
| Cheshire East Council Police Crime Commissioner Cheshire |
2022 £ - - - |
2021 £ 23,500 997 |
|---|---|---|
| 24,497 |
There are no unfulfilled conditions and contingencies attaching to the grants.
13 Corporation tax
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
14 Fixed assets: tangible assets
| Cost Additions Disposals Depreciation Charge for the year Disposals Net book value At 1 September At 31 August 2021 At 31 August 2022 At 31 August 2022 At 31 August 2022 At 1 September |
IT Software £ 3,396 - - 3,396 566 1,132 - 1,698 1,698 2,830 |
Motor Vehicles £ 36,939 18,000 - 54,939 26,966 5,723 - 32,689 22,250 9,973 |
£ 40,335 18,000 - Total |
|---|---|---|---|
| 58,335 | |||
| 27,532 6,855 - |
|||
| 34,387 | |||
| 23,948 | |||
| 12,803 |
21
Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
15 Debtors
| Fees Receivable Cre8 Facilities Limited Gift aid claim Grant Receivable Prepayments 16 Cash at bank and in hand Short term deposits Cash at bank and on hand 17 Creditors: amounts falling due within one year Trade creditors Other creditors and accruals Taxation and social security costs |
2022 £ 520 1,490 4,500 - 1,341 7,851 2022 £ 80,150 37,435 117,585 2022 £ 3,605 5,875 - 9,480 |
2021 £ 2,698 818 - 15,810 1,095 |
|---|---|---|
| 20,421 | ||
| 2021 £ 119,947 50,197 |
||
| 170,144 | ||
| 2021 £ 5,288 5,121 4,575 |
||
| 14,984 |
22
Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
18 Analysis of movements in restricted funds
| Youth Music Total Cheshire Community Foundation Jubilee Cheshire Community Foundation Camas 2022 The Rank Foundation Cheshire Community Foundation Music The National Lottery Community Fund Love Music Trust Co-op Local Small Groups Minds Matter Co-op Food Poverty Police Crime Commissioner Cheshire |
Balance at 1 September 2021 £ 9,692 575 - 18,643 11,680 - - - 13,620 1,650 417 56,277 |
Income £ 21,679 2,999 1,500 53,339 - 2,000 2,500 4,457 - - - 88,474 |
Expenditure £ (26,714) (2,083) (1,500) (57,366) (10,426) (2,000) (2,500) (4,457) (12,616) (1,650) (403) (121,715) |
Transfers £ - - - - - - - - - - - |
Balance at 31 August 2022 £ 4,657 1,491 - 14,616 1,254 - - - 1,004 - 14 |
|---|---|---|---|---|---|
| 23,036 |
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
18 Analysis of movements in restricted funds (Cont.)
| Youth Music Total Previous Reporting Period Love Music Trust The National Lottery Community Fund Police Crime Commissioner Cheshire G8 Way Project South West Peak National Lottery Heritage Fund Small Groups Minds Matter Co-op Food Poverty Cheshire Community Foundation Social Enterprise Co-op Local Cause The Rank Foundation |
Balance at 1 September 2020 £ 8,985 1,134 - 15,271 7,415 18,524 - - - - - 51,329 |
Income £ 30,417 1,820 1,500 50,986 26,470 - 9,752 14,483 4,931 997 7,500 148,856 |
Expenditure £ (29,710) (2,379) (1,500) (47,614) (22,205) (18,524) (9,752) (863) (3,281) (580) (7,500) (143,908) |
Transfers £ - - - - - - - - - - - - |
Balance at 31 August 2021 £ 9,692 575 - 18,643 11,680 - - 13,620 1,650 417 - |
|---|---|---|---|---|---|
| 56,277 |
24
Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
18 Analysis of movements in restricted funds (Cont.)
Name of restricted fund Description, nature and purposes of the fund
Youth Music Open Programme grant. Used for music project activities Co-op Local Cause Small work projects to enhance local community including gardening, maintenance & building plants and work benches Love Music Trust Trips and equipment for furthering the music project activities The National Lottery Cre8 project grow; a sustainable, low-cost food network, accessible Community Fund neighbourhood green space and local people developing their own community, health and wellbeing activities The Rank Foundation Time to Shine Leadership Programme, funding full-time administrator for 12 months Cheshire Community Foundation
- Music Funding for the provision of music project activities - Camas 2022 Residential for 11 - 16 year olds - Jubilee Jubilee Fund 2022, to develop and deliver a programme of music and dance activities to celebrate the Queen's jubilee Small Groups Minds Funded through Cheshire Minds Matter, delivering small project work for Matter young people Co-op Food Poverty Small group project work to enhance skills and tackle food poverty
Police Crime Supporting young people into work with preparation and volunteering Commissioner experiences Cheshire
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Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
19 Analysis of movement in unrestricted funds
| Previous Reporting Period General fund General fund |
Balance at 1 September 2021 £ 132,107 132,107 Balance at 1 September 2020 106,729 106,729 |
Income £ 191,381 191,381 Income £ 216,150 216,150 |
Expenditure £ (206,620) (206,620) Expenditure £ (190,772) (190,772) |
Transfers £ - - Transfers £ - - |
As at 31 August 2022 £ 116,868 |
|---|---|---|---|---|---|
| 116,868 | |||||
| As at 31 August 2021 £ 132,107 |
|||||
| 132,107 |
Name of
unrestricted fund Description, nature and purposes of the fund General fund The free reserves after allowing for all designated funds
20 Analysis of net assets between funds
| Tangible fixed assets Net current assets/(liabilities) Total Previous Reporting Period Tangible fixed assets Net current assets/(liabilities) Total |
General fund £ 23,948 92,920 116,868 General fund £ 12,803 119,304 132,107 |
Designated funds £ - - - Designated funds £ - - - |
Restricted funds £ - 23,036 23,036 Restricted funds £ - 56,277 56,277 |
Total £ 23,948 115,956 |
|---|---|---|---|---|
| 139,904 | ||||
| Total £ 12,803 175,581 |
||||
| 188,384 |
26
Cre8 Macclesfield Ltd
Notes to the accounts for the year ended 31 August 2022 (continued)
21 Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/(expenditure) for the year Adjustments for: Depreciation charge Dividends, interest and rents from investments Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating |
2022 £ (48,480) 6,855 (12,692) 12,570 (5,504) (47,251) |
2021 £ 30,326 5,446 (18,251) (18,107) 7,829 |
|---|---|---|
| 7,243 |
27
Cre8 Macclesfield Ltd
Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 August 2021
| Unrestricted funds Note £ Income from: Donations and legacies 3 110,853 Charitable activities 4 87,046 Investments 5 18,251 Total income 216,150 Expenditure on: Charitable activities 6 190,772 Total expenditure 190,772 25,378 8 25,378 Net movement in funds for the year 25,378 Reconciliation of funds Total funds brought forward 106,729 Total funds carried forward 132,107 Net income/(expenditure) for the year Net income/(expenditure) before net gains/(losses) on investments |
Restricted funds £ - 148,856 - 148,856 143,908 143,908 4,948 4,948 4,948 51,329 56,277 |
Total funds 2021 £ 110,853 235,902 18,251 365,006 334,680 334,680 30,326 30,326 30,326 158,058 188,384 |
Total funds 2020 £ 53,314 245,420 436 |
|---|---|---|---|
| 299,170 | |||
| 296,705 | |||
| 296,705 | |||
| 2,465 | |||
| 2,465 | |||
| 2,465 155,593 |
|||
| 158,058 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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