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2023-08-31-accounts

Company number: 7737871 Charity Number: 1147150

Cre8 Macclesfield Ltd Report and financial statements For the year ended 31st August 2023

Cre8 Macclesfield Ltd Reference and administrative information for the year ended 31st August 2023

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 Ameera Fletcher Tom Goodwin (Appointed 17[th] July 2023) Jennifer Hardy Chair Laura Mummery Peter Munro (Resigned 24[th] January 2024) Adam Small Ruth Thompson Secretary Sophie FitzPatrick (Appointed 23[rd] May 2023) Katy Wardle (Resigned 23[rd] May 2023) Key Management Personnel Jonathan Aitken Keirra Bexon Sophie FitzPatrick (Appointed 4[th] October 2022) Ameera Fletcher James Kennedy (Appointed 1[st] July 2023) Sarah Postlewhite Katy Wardle Bankers Unity Trust Bank Nine Brindleyplace Birmingham B1 2HB

Independent Examiner

Christy Lau FCCA CTA DChA Slade and Cooper Beehive Mill Jersey St Ancoats Manchester M4 6JG

1

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

The trustees present their report and the unaudited financial statements for the year ended 31st August 2023. 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 strategy

The charitable purposes of the company remain:

Our Vision: Cre8 is at the heart of a vibrant and flourishing community - Moss Rose Estate

Our Mission: We strengthen local connections and enable our community to make change happen for themselves and for their neighbourhood.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charities aims and objectives and in planning its future activities.

Our key challenges

2

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

Our projects and achievements

Over the past 17 years, we believe we have built capacity, resilience and developed a self-help model that reduces what corrodes the emotional, physical and spiritual wellbeing of people in our community. We have done this by raising self-esteem, selfworth, self-confidence and have consciously built a sense of community.

Our activities during the year continue to underpin and deliver our strategic priorities and are outlined below.

Cre8 Music

Funded through "Youth Music" "Love Music Trust" and “The Rank Foundation” (since May 2023) 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. In May 2023 our Youth Music funding ended, and we have been securing alternative funding streams to ensure we can continue music making activities.

Our evaluation report for Youth Music showed that our attendance figures to all group music sessions have followed an upward trend during the course of the project. Feedback from participants parents included “Music is the one thing that my son engages with; it is making such a difference”; “He really enjoys coming here, I think he likes the snack that you provide, and he loves to sing”

We were successful in securing Arts Awards for several participants of the project, and the young people delivered an engaging Christmas and Summer community concert. We were also able to deliver at Christ the King Primary School, where all children were able to take part in a music making day delivered by our specialist music practitioners. Doing youth work through the provision of music is a fundamental part of the culture of Cre8 and we remain hopeful to secure further funding.

In May 2023 we were successful in securing two Rank Foundation Cost of Living Grants which enabled us to continue with our Music Delivery until the end of August 2023. The cost-of-living grants enabled us to pay cost of living payments to staff and ensure we could meet ever rising maintenance and utility costs and provided some essential training for staff.

3

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

Youth Work

Funded by Cheadle Royal Hospital Trust, our collaborative project delivered with Just Drop In and Wilmslow Youth continues to focus on training volunteers and staff and providing mentoring to support our young people.

Through our work funded by Cheshire Community Foundation, we delivered work with our 16 plus age group, activities including community events, trips and residentials and a weekly group, and we have approved and set up a Youth Ambassador Board. In August 2023, we successfully recruited a Youth Work Apprentice a young person from the Moss Estate who will be following the National Youth Agency curriculum and working and living in our community, this young person has been with Cre8 since the age of 8.

We founded ReCre8, our 16 plus age group, and in May we received a Better Days Grant from the Cheshire Community Foundation, with which we were able to take 88 people for a day out in Blackpool, including families, elderly and vulnerable people and individuals, for a fully funded community trip which was a great success.

Encouraging work and participation is central to our passion for community work, and we delivered a fundraising event with the ideas generated our 16 plus age group “Walk, Ride Row” was a 24-hour fundraiser where young people and community members “travelled” the distance to Camas Centre on Mull. Participants successfully completed over 500 miles on running machines, rowing machines and exercise bikes over a 24-hour period. This event was well supported and raised an additional £3k in funding towards our Camas Residential in August 2023 (see below).

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.

Clubs

We have successfully delivered Clubs and Residentials for young people, and seen numbers increase to a capacity level for both clubs. We run two youth clubs weekly, being 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

4

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

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

Supported through fundraising and some grant funding, we successfully delivered three residentials, which were over-subscribed, including Camas, which saw 18 young people spend a week away living in community. This intensive week away creates lasting life experiences, for the young people and our staff and volunteer team. We also went to Kirkham with the primary club, and to Camas on a work week, with community members and young volunteers from across the Moss Rose Community.

Cre8 Enterprise

Our operational performance and achievements have included ongoing investment in Social Enterprise, which continues to provide meaningful work opportunities for young people who live locally. This initiative delivers 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, and 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 third year running. This annual event is a key fixture in the local community and provides paid employment for young people.

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 nine years. 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.

Project Grow

2022/23 marked the fourth 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. In our fourth year of delivery, we are expanded our grocery provision into Bollington, and continue to see rising numbers in terms of membership of the Food Pantry. We are looking for how to sustain the Grocery as we approach the fifth and final year of funding.

5

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

We have adapted our Project Grow to deliver food to those who need it most, both within our local community as well as across Macclesfield, and continue to support the establishment of a Food Network Partnership across Macclesfield.

The Award-winning Garden and Allotment at St Barnabas Church remains a great asset 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.

Beneficiaries of our services

There are three geographical categories of beneficiaries of our services:

We are thankful for the support of our volunteers over 50 different people participated in supporting our Food Pantry, our youth clubs, our music clubs and also providing mentoring support where essential 121 support was given by staff and volunteers.

We give thanks to our major funders; Cheshire Community Foundation, Love Music Trust, National Lottery Community Fund, The Rank Foundation, 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.

Financial review

Cre8 made a deficit of £9.2k in the 2023 financial year (2022: deficit of £48k), which was significantly favourable to budget. The deficit excludes the gi� aid payment from Cre8 Facili�es of its 2023 profits, made following the year end. Income increas ed by 16%, reflec�ng a strong performance in delivering grant income and in fundraising. Despite the infla�onary environment and the fixed nature of many of the charity's areas of expenditure, solid cost control resulted in a reduc�on in total expenditu re of 3%.

6

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

The trustees have budgeted for a breakeven posi�on in 2023/24, building on the strong performance in 2022/23. As such, we believe that we will have sufficient reserves at 31st August 2024 to comply with our reserves policy (see below).

In summary, total funds reduced by £9.2k in 2023, before the gi� aid payment from Cre8 Facili�es of its 2023 profits (2022: £48k decrease) and stood at £13 1k (2022: £140k) at the end of the year with cash reserves at £106k (2022: £118k).

Reserves policy

At the start of the year the reserves policy (set out in 2018) was to maintain unrestricted reserves at a minimum of 6 months unrestricted costs (£89,818). As at 31st August 2023, on this basis, unrestricted reserves had remained broadly stable at 6.2 months of unrestricted cost (2022: 6.8 months).

During the year the trustees reviewed the reserves policy and concluded that it would be prudent and appropriate to adopt a risk- based reserves policy, to reflect the most likely financial scenario. Since a large propor�on of the financial inflows and ou� lows are repeat in nature, rather than dependent on one off fundraising ac�vi�es, the probabili�es can be es�mated fairly reliably. The trustees decided to revise the reserves policy to maintain unrestricted reserves less fixed assets at a minimum of 12 months of non- discre�onary expenditure net of expected residual income. In agreeing this policy, the trustees applied probabili�es against the budgeted unrestricted inflows and ou�lows reflec�ng the extent to which the income and expenditure is ‘gua ranteed’ or ‘commi�ed’. Under the revised reserves policy, unrestricted reserves less fixed assets comprised 180% of projected non- discre�onary expenditure less expected residual income, or 22 months.

The reserves policy and probabili�es will be reviewed regularly and at least annually by the trustees.

Plans for the future

  1. To deliver high quality youth and community work that achieves sustainable change within the Moss Rose Estate;

  2. To nurture, enable and empower others who want to do good things in our community;

  3. To create learning opportuni�es that grow the youth leaders of the future.

The following strategic priori�es were agreed:

7

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

Structure, governance and management

The organisa�on is a charitable company limited by guarantee, incorporated on 11[th] August 2011 and registered as a charity on 4[th] May 2012. The company was established under a memorandum of associa�on which established the objects and powers of the charitable company and is governed under its ar�cles of associa�on. Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

year. The Trustees are members of the charity but this en�tles them only to vo�ng rights. The trustees have no beneficial interest in the charity.

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 adver�se for Trustees with specific skills, u�lizing local adver�sing groups such as Cheshire East Community & Voluntary Services. O nce an enquiry has been made, the poten�al Trustee meets separately with the Director and the Chair of Trustees, before comple�ng an applica�on form, - references, confiden�al self declara�on form and DBS check. The appointment of a person as a Trustee is subject to approval by the Trustees.

Any expenses reclaimed from the charity are set out in note 10 to the accounts.

understanding their roles and responsibili�es as trustees. Several trustees have in the past a�ended virtual training related to Charity Governance and have reported back to the trustee team. All trustees a�end Safeguarding training each year.

Related par�es and rela�onships with other organisa�ons

Cre8 Works Ltd and Cre8 Facili�es Ltd are wholly owned subsidiaries of Cre8 Macclesfield Ltd.

Remunera�on policy for key management personnel

Cre8 operates a pay- scale that includes a number of dis�nct pay grades. The grades and job descrip�ons are benchmarked to na�onal data available for our industry sector.

8

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

Risk management

along with relevant controls and mi�ga�ons, which the Finance & HR Commi�ee, and trustees, review at least annually.

9

Cre8 Macclesfield Ltd Trustees’ annual report for the year ended 31st August 2023

Statement of responsibili�es 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 Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce).

year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and applica�on of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accoun�ng records that disclose with reasonable accuracy at any �me the financial posi�on 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 preven�on and detec�on of fraud and other irregulari�es.

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

10

Independent examiner’s report to the trustees of

I report to the charity trustees on my examina�on of the accounts of the company for the year ended 31st August 2023 which are set out on pages 12 to 31.

Responsibili�es 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 prepara�on of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

under Part 16 of the 2006 Act and are eligible for independent examina�on, I report in respect of my examina�on of your company’s accounts as carried out under sec�o n 145 of the Chari�es Act 2011 (‘the 2011 Act’). In carrying out my examina�on I have followed the Direc�ons given by the Charity Commission under sec�on 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 sec�on 145 of the 2011 Act. I confirm that I am qualified to undertake the examina�on because I am a member of the Associa�on of Chartered Cer�fied Ac countants, which is one of the listed bodies.

in connec�on with the examina�on giving me cause to believe that in any material respect:

  1. accoun�ng records were not kept in respect of the company as required by sec�on 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accoun�ng requirements of sec�on 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a ma�er considered as part of an independent examina�on; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prac�ce for accoun�ng and repor�ng by chari�es applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other ma�ers in connec�on with the examina�on to which a�en�on 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 Beehive Mill, Jersey Street, Ancoats Manchester, M4 6JG 26 March 2024

11

Cre8 Macclesfield Ltd

Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 August 2023

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
56,944
Charitable activities
4
112,041
Investments
5
6,276
Total income
175,261
Expenditure on:
Charitable activities
6
184,506
Total expenditure
184,506
(9,245)
8
(9,245)
Net movement in funds for the year
(9,245)
Reconciliation of funds
Total funds brought forward
116,868
Total funds carried forward
107,623
Net income/(expenditure) before
net gains/(losses) on investments
Net income/(expenditure) for the
year		 Restricted
funds
£
-
133,810
-
133,810
133,777
133,777
33
33
33
23,036
23,069		 Total funds
2023
£
56,944
245,851
6,276
309,071
318,283
318,283
(9,212)
(9,212)
(9,212)
139,904
130,692		 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

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.

12

Cre8 Macclesfield Ltd Company number 7737871

Balance sheet as at 31 August 2023

Note
£
£
Fixed assets
Tangible assets
14
13,816
Current assets
Debtors
15
21,916
Cash at bank and in hand
16
106,392
Total current assets
128,308
Liabilities
Creditors: amounts falling
due in less than one year
17
(11,432)
Net current assets
116,876
Total assets less current liabilities
130,692
Net assets
130,692
The funds of the charity:
Restricted income funds
18
23,069
Unrestricted income funds
19
107,623
Total charity funds
130,692
2023		 £
£
23,948
7,851
117,585
125,436
(9,480)
115,956
139,904
139,904
23,036
116,868
139,904
2022		 £
£
23,948
7,851
117,585
125,436
(9,480)
115,956
139,904
139,904
23,036
116,868
139,904
2022
139,904
139,904
23,036
116,868
139,904

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:

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 15 to 31 form part of these accounts.

Approved by the trustees on //______ and signed on their behalf by:

Ameera Fletcher (Trustee)

Laura Mummery (Trustee)

13

Cre8 Macclesfield Ltd

Statement of Cash Flows for the year ending 31 August 2023

Note
2023
£
Cash provided by/(used in) operating activities
22
(17,469)
Cash flows from investing activities:
Dividends, interest, and rents from investments
6,276
Purchase of tangible fixed assets
-
Cash provided by/(used in) investing activities
6,276
(11,193)
Cash and cash equivalents at the beginning of the year
117,585
Cash and cash equivalents at the end of the year
106,392
Increase/(decrease) in cash and cash
equivalents in the year		 2022
£
(47,251)
12,692
(18,000)
(5,308)
(52,559)
170,144
117,585

14

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023

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.

15

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (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.

16

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (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:

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.

17

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (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 £680 outstanding contributions at the year end (2022: nil).

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
Total		 Unrestricted
£
26,944
30,000
56,944
Unrestricted
£
40,748
30,000
70,748		 Restricted
£
-
-
-
Restricted
£
-
-
-		 Total 2023
£
26,944
30,000
56,944
Total 2022
£
40,748
30,000
70,748

18

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (continued)

4 Income from charitable activities

Grants and contracts
The Swallow Trust
Youth Music
Cheshire Community Foundation
Love Music Trust
Cheadle Royal Hospital Trust
The Rank Foundation
Neighbourly
Leavers Coulson Trust
Bentley ALC Small Grants
Macclesfield Town Council
Cheshire East Council
Fees and other income
Contract Work
Fund Raising
Other income
Total
CCF Best days 2023
The National Lottery Community
Fund
CCF ReCre8
Warm Spaces project
Older Persons Christmas Party
Warm PlaCEs		 Unrestricted
£
25,000
-
500
-
-
-
-
2,000
-
-
-
-
1,000
-
250
28,750
42,008
6,108
35,175
83,291
112,041		 Restricted
£
-
17,903
-
14,824
3,950
73,053
1,500
-
20,000
1,000
780
500
-
300
-
133,810
-
-
-
-
133,810		 Total 2023
£
25,000
17,903
500
14,824
3,950
73,053
1,500
2,000
20,000
1,000
780
500
1,000
300
250
162,560
42,008
6,108
35,175
83,291
245,851

19

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (continued)

4 Income from charitable activities (Continued)

Previous Reporting Period
Grants and contracts
The Swallow Trust
Youth Music
Cheshire Community Foundation -
CCF Camas 2022
CCF Music
CCF Jubilee Fund
Co-op Local Cause
Cheadle Royal Hospital Trust
Fees and other income
Contract Work
Fund Raising
Other income
Total
MTC Jubilee
The National Lottery Community
Fund
Love Music Trust		 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

5 Investment income

Investment income
Income from bank deposits
Gift aid from Subsidiary		 2023
£
955
5,321
6,276		 2022
£
203
12,489
12,692

All investment income is unrestricted.

20

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (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
Analysis of governance costs
Accountancy services
Volunteers
Miscellaneous
Administration
Equipment
Staff costs
Insurance
Premises
Travel
Depreciation		 Total 2023
£
212,332
17,036
2,038
8,896
3,242
11,908
5,446
9,068
7,228
1,968
9,639
5,982
11,594
10,132
1,774
318,283
2023
£
133,777
184,506
318,283
2023
£
1,774
1,774		 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

7 Analysis of governance costs

21

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (continued)

8 Net income/(expenditure) for the year

This is stated after charging/(crediting):

This is stated after charging/(crediting): 2023 2022
£ £
Depreciation 10,132 6,855
Independent examiner's fee
Independent examination 750 750
Accountancy 1,200 1,080

9 Staff costs

Staff costs during the year were as follows:

ff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs		 2023
£
197,604
8,462
6,266
212,332		 2022
£
217,354
11,686
7,115
236,155

During the year £18,668 (2022: £20,263) of the above costs were recharged to one of the charity's subsidiaries.

No employee has employee benefits in excess of £60,000 (2022: Nil).

The average number of staff employed during the period was 21.1 (2022: 20.7). The average full time equivalent number of staff employed during the period was 8.7 (2022: 10.9).

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 £154,853 (2022: £175,571).

22

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (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 £51,424 (2022: £50,241) 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 (2022: £nil).

No (2022:one) trustee received travel and subsistence expenses of during the year (2022:£94).

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 Facilities Limited

Cre8 Facilities Limited
2023 2022
£ £
Transactions in the period comprised:
Gift Aid payment from subsidiary 5,321 12,489
Recharge of expenses to subsidiary 21,154 22,823
Balance owed by/(to) the subsidiary at period end 1,169 1,490

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.

23

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (continued)

12 Government grants

The government grants recognised in the accounts were as follows:

Cheshire East Council
Macclesfield Town Council		 2023
£
250
1,300
1,550		 2022
£
-
-
-

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 2022
At 31 August 2022
At 1 September 2022
At 31 August 2023
At 31 August 2023
At 31 August 2023		 IT Software
£
3,396
-
-
3,396
1,698
1,132
-
2,830
566
1,698		 Motor
Vehicles
£
54,939
-
-
54,939
32,689
9,000
-
41,689
13,250
22,250		 £
58,335
-
-
Total
58,335
34,387
10,132
-
44,519
13,816
23,948

24

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (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		 2023
£
-
1,169
-
12,500
8,247
21,916
2023
£
61,105
45,287
106,392
2023
£
4,753
4,177
2,502
11,432		 2022
£
520
1,490
4,500
-
1,341
7,851
2022
£
80,150
37,435
117,585
2022
£
3,605
5,875
-
9,480

25

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (continued)

18 Analysis of movements in restricted funds

Youth Music
Total
Cheshire
Community
Foundation
ReCre8
The National
Lottery
Community Fund
Love Music Trust
Cheshire
Community
Foundation Best
days 2023
The Rank
Foundation
Bentley ALC Small
Grants
Neighbourly
Leavers Coulson
Trust
Older Persons
Christmas Party
Co-op Local Cause
Small Groups
Minds Matter
Police Crime
Commissioner
Cheshire		 Balance at
1
September
2022
£
4,657
1,491
-
14,616
1,254
-
-
1,004
14
-
-
-
23,036
 Income
£
17,903
-
1,500
73,053
20,000
14,824
3,950
-
-
1,000
780
500
300
133,810		 Expenditure
£
(22,560)
(1,491)
(1,500)
(72,405)
(16,569)
(14,504)
(1,150)
(1,004)
(14)
(1,000)
(780)
(500)
(300)
(133,777)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 August
2023
£
-
-
-
15,264
4,685
320
2,800
-
-
-
-
-
-
23,069

26

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (continued)

18 Analysis of movements in restricted funds (Cont.)

Youth Music
Total
Previous Reporting
Period
Love Music Trust
The National
Lottery
Community Fund
Cheshire
Community
Foundation
Camas 2022
Co-op Food
Poverty
Police Crime
Commissioner
Cheshire
Cheshire
Community
Foundation
Jubilee
Small Groups
Minds Matter
Cheshire
Community
Foundation Music
Co-op Local
The Rank
Foundation		 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

27

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (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

28

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (continued)

19 Analysis of movement in unrestricted funds

Previous Reporting
Period
General fund
General fund		 Balance at
1
September
2022
£
116,868
116,868
Balance
at 1
September
2021
132,107
132,107
 Income
£
175,261
175,261
Income
£
191,381
191,381		 Expenditure
£
(184,506)
(184,506)
Expenditure
£
(206,620)
(206,620)		 Transfers
£
-
-
Transfers
£
-
-		 As at 31
August
2023
£
107,623
107,623
As at 31
August
2022
£
116,868
116,868

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
£
13,816
93,807
107,623
General
fund
£
23,948
92,920
116,868		 Designated
funds
£
-
-
-
Designated
funds
£
-
-
-		 Restricted
funds
£
-
23,069
23,069
Restricted
funds
£
-
23,036
23,036		 Total
£
13,816
116,876
130,692
Total
£
23,948
115,956
139,904

29

Cre8 Macclesfield Ltd

Notes to the accounts for the year ended 31 August 2023 (continued)

21 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as

Less than one year
One to five years
Over five years		 2023
2022
£
£
2
-
13
-
-
-
15
-
Property		 2023
2022
£
£
2
-
13
-
-
-
15
-
Property
-

22 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		 2023
£
(9,212)
10,132
(6,276)
(14,065)
1,952
(17,469)		 2022
£
(48,480)
6,855
(12,692)
12,570
(5,504)
(47,251)

30

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) for the
year
Net income/(expenditure) before
net gains/(losses) on investments		 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.

31