## CCR Foundation ## (a company limited by guarantee) **Trustees’ Report and Financial Statements for the year ended 31 December 2021** Charity number: 1147361 Company number: 07960490 Page: 1 ## **Contents:** Administrative details page 2 Trustees’ report pages 3-7 Independent Examiner’s report page 8 Statement of Financial Activities page 9 Balance Sheet page 10 Statement of Cash Flows page 11 Notes to the Accounts pages 12-13 Administrative details: Our organisation came into being several years after a group of individuals and members of Christ Church Roxeth considered that a charity shop in the Roxeth area of South Harrow could bring benefits to the local community. A private company, CCR Foundation, limited by guarantee, having no share capital, was incorporated at Companies House, number 07960490, on 22nd February 2012. The CCR Foundation has been trading as “found” since 7 May 2012. _Charity number:_ 1147361 _Company number:_ 07960490 _Registered address:_ 9 Shaftsbury Parade, Shaftsbury Avenue, Harrow, HA2 0AJ Directors and Trustees: Mark Dunning (resigned 31 August 2021) Rachael Matthews – Chair Richard Antcliffe Hope Dieobi (resigned 31 October 2021) Arthur Akhurst (appointed 12 July 2021) Matthew Isherwood (appointed 12 July 2021) Bola George (appointed 12 July 2021) Charity number: 1147361 - Company number: 07960490 Page: 2 ## **Report of the trustees for the year ending 31 December 2021** The trustees are pleased to present their annual report, with the financial statements of the charity, for the year ended 31 December 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). ## **Chairman’s report** Our charity shop _found_ opened in 2012. With its distinctive signage and prominent position on Shaftesbury Circle the shop is now well established and recognised as a place to find a bargain, a friendly welcome and a listening ear. A place to browse and buy, or to relax in our community area with its cafe, books and media items. The money we make from selling and recycling donated goods is used to support community and mission activities. This includes helping people in immediate need, funding children and youth work, and supporting the work of specialist local charities. In recent months we have celebrated our 10[th] anniversary. _Found_ is described as a _‘special place - a lot that’s good happens here, and it might just be the friendliest place in Harrow’_ . With continued challenges from COVID-19 in 2021, our priority was the safety of our staff, volunteers, and all who visit the shop. Through part of 2021 the shop had to close due to the lock-down period, cutting off donations and sales. With the Government furlough scheme we continued to pay our staff. We were closed through all of January, February and March 2021 before re-opening on 12 April 2021. When re-opening was permitted, we re-arranged the shop to meet Government requirements and Charity Retail Association guidance and were able to commence reopening. We continue to manage the shop in line with Government guidance. Overall, the period of shop closure had a significant negative impact on our shop takings and we were fortunate that a combination of the government furlough scheme, local Council grants and generous donations enabled our finances to be kept under control We are enormously grateful to our paid staff Paula, Sarah, Naomi and Sue for continuing to do a fantastic job. In addition, we have an amazing team of volunteers who put in an enormous number of hours to keep the business running. As trustees we are hugely grateful to all of them. Charity number: 1147361 - Company number: 07960490 Page: 3 Finally, we express thanks for our small team of trustees who have willingly and enthusiastically given freely of their time, gifts and skills to help make _found_ a special place for so many people. ## **Our purposes and activities** The company was formally registered as a charity by the Charity Commission on 22nd May 2012 with objectives to: - Advance the Christian faith - Relieve poverty - Advance education - Fulfil such other purposes which are exclusively charitable. We aim to support individuals and to build local community by providing opportunities for developing workplace skills and lifelong learning. We are also passionate about providing services to those in need, through the relief of poverty and education. A sense of wellbeing is essential to everyone and part of our aim is to give time and space to discover and explore issues of life and faith. We actively promote inclusion to all sectors of the community and will seek to assist any person regardless of age, gender, disability, race, religion or sexual orientation. Charity number: 1147361 - Company number: 07960490 Page: 4 Our faith is at the centre of our values as shown in the life of Jesus, and can be summarised as follows: - To support our community. - To welcome the lonely. - To feed the hungry. - To bring release from guilt and shame. - To bring God’s hope to a broken world. - To pray for healing for the sick and oppressed. - To enable others to find solace and a sense of purpose. The very heart of **found** is to find ways of supporting the community and we are pleased to say that we are now working with several other organisations to make this happen. To date we have supported several causes – causes like our partnership with **Firm Foundation** , the Charity seeking to help homeless individuals. **Firm Foundation** belongs to our voucher scheme and if a person is in need of clothes or other goods they can come and visit the shop and exchange them. ## **Local Community Support** We continue to look to partner with a number of local charities including: - Regeneration - Firm Foundation - Harrow Food Bank - Fresh Horizons - The Spear Project. Many people have been helped either directly or through our voucher scheme. We continue to work closely with local schools providing work experience and retail training. ## **Financial Review** Overall income generated in 2021 was £119,090 which was a 15% increase on the prior year, as we emerged from the Covid-19 lockdown period. The total cost of raising funds before charitable expenditure was £100,687 which was a 4% increase on the prior year and also reflected our desire to keep our costs under control. In 2021 we were able to spend £12,903 on our prime charitable purpose of local community support, a 23% increase from the prior year. In 2021 our net income for the year overall was a £5,500 surplus, resulting in total funds to be carried forward of £28,800. Charity number: 1147361 - Company number: 07960490 Page: 5 ## **Reserves and going concern** Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency expenditure. The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted expenditure, being of the order of £30,000. The trustees consider that this level will provide sufficient funds to respond to urgent community support appeals or to cover unexpected administration and governance costs. As at 31 December 2021 the charity had unrestricted reserves of £28,800 and will seek to work towards achieving its free reserves target in future years. ## **Investment policy** The trustees, having regard to the liquidity requirements of the charity shop, have kept available funds in an instant access bank account, which whilst not generating investment income also does not incur significant costs to operate. ## **Risk Management:** The principle risk faced by CCR Foundation is to not generate enough income from sales in order to cover operational costs. Other risks include damage to shop facilities due to water ingress, and health and safety more generally in and around the shop. A key operational risk is being unable to recruit the necessary number of volunteers or skilled staff. All these risks are kept under regular review by the trustees, and mitigating actions taken to manage the risks. ## **Remuneration policy:** The directors consider the board of directors, who are the charity’s trustees, and the management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All directors give of their time freely and no director received remuneration in the year in relation to their trustee role. The pay of the management team is reviewed annually. In view of the nature of the charity, the directors have regard to a number of factors including the pay levels in charity shops of a similar size. ## **Related parties and co-operation with other organisations:** None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee and manager of the charity shop, contracted worker, or contractual relationship with an organisation listed as receiving grants must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. Charity number: 1147361 - Company number: 07960490 Page: 6 Trustees. responsibilities in relation to the financial ststements: The company is entitled to exemption from audit under s477 of the Companies Act 20[￿ for the year ended 31 De￿mber 2021. The members have not required the company to obtain an audTI of Tts financial statements for the year ended 31 Deomber 2021 in accordance with s476 of the Companies Act 2006. The directors a¢knowledge their responsibilrties for.. (a) ensunng that the company keeps accounting records vthich comply with sections 386 and 387 of the Companies Act 2006. and (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of tts profit or loss for each financial year. Approved by the trustees on 19 September 2022 signed on their behalf by.. Rachael Matthews- Chair Date: 19 September 2022 (hrity numtpx: 1147361- COM￿1nY number: 079EIJ490 Page= 7 Independent Examinefs Report to the Trustees of CCR Foundation I report on the accounts of the charttable company for the year ended 31 December 2021 which are set out on pages 9-13. Respective responsibilities of trustees and examiner The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under Section 144(2} of the Charities AGt12011) (the 2011 Act) arKI that an independent examination is needed. The charity's gross income did not ex￿ed £250.000 and l am qualtfied to undertake the examination by bein9 a Fellow member of the Association of Accounting Technicians. Having satisfied rnyse￿ that the charity is not subject to audit under company law and is eligible for independent examination Ft is my responsibility to= examine the accounts under section 145 of the 2011 Act., follow the procedures laid doNyn in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and state whether particular matters have come to my attention. Basls of independent examlnerfs report My examination was Carried out in accordance with the General D1￿CtionS gtven by the Charity Commission. An examination indudes a review of the accounting records kept by the charity and a comparison of the accounts presented wth those records. It also includes consid8ring any unusual ttems or disclosures in the accounts and seeking explanations from you as trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audrt, and consequently no opinion is given as lo whelher the acLounts P￿sent a Irue and fair view, and the ￿port is limFted to those matters set out in the statement below. Independent examinerfs Statement In connection with my examination, no matter has Come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordan￿ with section 386 of the Companies Act 2006. and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities; have not been met, or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reaGhed. De￿k Taylor-mew, BSC. FMMT, 123 Park Lane, Harrow. Middlesex, HA2 8NN. Signed.. I,.)Z4lL Page: 8 ## **CCR Foundation** ## **Statement of Financial Activities** ## **for year ending 31 December 2021** |Notes
**Income**
Donations
_Income from Charitable activities:_
Shop takings
Gift Aid from shop income
1
Other income
**Total Income**
**Expenditure**
_Costs of raising funds:_
Property costs
Salary and payroll costs
Administration costs
Depreciation of fixed assets
2
_Costs of charitable expenditure:_
Local community support
**Total Expenditure**
**Net income / (expenditure) and net**
**movement in funds for the year**
_Reconciliation of funds:_
Total funds brought forward
**Total funds carried forward**|**Total**
**Funds**
**2021**
**£**
300
74,548
4,567
39,675
**119,090**
17,000
57,623
25,014
1,050
100,687
12,903
**113,590**
**5,500**|**Total**
**Funds**
**2020**
**£**| |---|---|---| |||240
61,163
4,030
37,815| |||**103,248**| |||16,412
49,223
28,524
2,325| |||96,484
10,464| |||**106,948**| |||| |||**(3,700)**| ||23,300
**28,800**|27,000
**23,300**| Charity number: 1147361 - Company number: 07960490 Page: 9 CCR Foundatlon Balance Sheet at 31 De￿mber 2021 Total Funds 2021 Total Funds 2020 Notes Flx&d Awts Tangible Assets 8.050 9.100 Total Flxed Assets &050 9,100 Current Assets Cash al bank 20,075 128 13.562 Petty eash VAT recoverable 393 Sundry debtor5 3.274 3,079 Totsl Current Assets 23,870 17,390 Current Uablllties C￿ditO￿ falling due within year Sundry credilo -3.120 -3.190 Net Cuttent assets 20.750 14,200 Total assets less Current liabiliiies 28,800 23,300 Net assets 28.800 23,300 The funds of the charity: Funds brought fowd fr(Mn pr￿ year Current year net incoffe l { net e>￿dItUre) 27.IX)O -3.700 Totsl charlty funds 28,800 23,300 Approved by the trustees on 19 Sept￿￿ 2022 arKI SIgr￿ on th￿r behaff by.. Cfvarity n￿￿t￿. 1147361 . com￿1￿Y numtw: 079EI)490 Page: 10 |**CCR Foundation**|**CCR Foundation**|**CCR Foundation**|||| |---|---|---|---|---|---| ||||||| |**Statement of Cash Flows**|||||| |**For the year ending 31 December 2021**|||||| ||||||| ||||||| ||||**Total Funds**||**Total**
**Funds**| ||||**2021**||**2020**| ||Note||**£**||**£**| ||||||| ||||||| |**Cash generated from operating activities**|3||**6,577**||**-2,468**| ||||||| |**Cash flows from investing activities**|||||| |Purchase of tangible fixed assets|2||0||0| ||||||| |**Cash used in investing activities**|||**0**||**0**| ||||||| |**Cash flows from financing activities**|||||| |Repayment of borrowing|||0||0| ||||||| |**Cash used in financing activities**|||**0**||**0**| ||||||| |**Increase / (Decrease) in cash and cash equivalents in the year**|||**6,577**||**-2,468**| |Cash and cash equivalents at the beginningof theyear|||13,626||16,094| ||||||| |**Total cash and cash equivalents at the end of theyear**|||**20,203**||**13,626**| ||||||| ||||||| ||||||| ||**At 1 Jan**
**2021**|
|**Movements**||**At 31 Dec**
**2021**| |Cash at bank|13,562||6,513||20,075| |Pettycash|64||64||128| ||**13,626**||**6,577**||**20,203**| ||||||| |Medium-term loans|0||0||0| ||**13,626**||**6,577**||**20,203**| ||||||| ||||||| Charity number: 1147361 - Company number: 07960490 Page: 11 ## **Notes on the accounts** ## **Accounting Policies** The principal accounting policies adopted, judgements 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **b) Reconciliation with previous Generally Accepted Accounting Practice** In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. ## **c) Preparation of the accounts on a going concern basis** The charity reported net incoming resources for the year. The trustees are of the view that the overall trading during the year, and the continued potential for shop takings, are such that the charity is a going concern. The need during 2021 to close the shop to trading at times during the COVID-19 lockdown has been a setback and has required the trustees to keep a close watch on cashflow and reserves. The provision of government support in the form of small business grant support, and the Job Retention Scheme have been very welcome as we have responded to these challenges. ## **1 Shop Takings** The directors are grateful to all those members of the public who have brought goods for sale. Their general policy is only to sell donated goods, and no VAT is chargeable on these sales. However, during 2021 drinks and snacks were offered for sale, and these are standard-rated for VAT. Charity number: 1147361 - Company number: 07960490 Page: 12 ## **2 Fixed Assets and Depreciation** |||| |---|---|---| |**Fixed Assets and Depreciation**||| |Fixed assets are being written off on a straight-line basis over 5||years.| |||| |||**Total**| |||**£**| |**Cost:**||| |As at 1 January2021||49,788| |Additions||0| |Disposals||0| |**As at 31 December 2021**||**49,788**| |||| |**Accumulated depreciation**||| |As at 1 January2021||40,688| |Depreciation for theyear||1,050| |Disposals||0| |**As at 31 December 2021**||**41,738**| |||| |**Net book value as at 31 December 2021**||**8,050**| |||| |**Net book value as at 31 December 2020**||**9,100**| |||| |||| |**3 Reconciliation of net movements in funds to net cash flow from operating activities:**|**3 Reconciliation of net movements in funds to net cash flow from operating activities:**|**3 Reconciliation of net movements in funds to net cash flow from operating activities:**|**3 Reconciliation of net movements in funds to net cash flow from operating activities:**|**3 Reconciliation of net movements in funds to net cash flow from operating activities:**| |---|---|---|---|---| |||||| |||||| |||**Total**
**Funds**||**Total**
**Funds**| |||**2021**||**2020**| |||**£**||**£**| |||||| |**Net Movement in funds**||5,500||-3,700| |Add back depreciation charge||1,050||2,325| |Decreaseindebtors||97||4,004| |(Decrease)increditors||-70||-5,097| |**Net cashgenerated from operating activities**||6,577||-2,468| |||||| Charity number: 1147361 - Company number: 07960490 Page: 13