Cornwall Community Accountancy Service
A company limited by guarantee.
Charity No. 1147929
Company No. 07999264
Trustees' Report and Unaudited Accounts
31 January 2022
Dick Maule FCA The Cross House South Woodchester GL5 5EL
Cornwall Community Accountancy Service CONTENTS
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 4 | |
| Independent Examiner's Report | 5 | |
| Statement of Financial Activities | 6 | |
| Balance Sheet | 7 | |
| Notes to the Accounts | 8 to | 16 |
Page 1
Cornwall Community Accountancy Service TRUSTEES ANNUAL REPORT
CCAS
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 07999264
Charity No. 1147929
Registered Office
Mid Cornwall Branch The Elms 61 Green Lane Redruth TR15 1LS
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
Chris Dennis Joanne Fisher John Acornley
Key Management Personnel
Chief Executive Officer
Debbie Risborough
Accountants
Dick Maule FCA The Cross House South Woodchester GL5 5EL
Page 2
Cornwall Community Accountancy Service TRUSTEES ANNUAL REPORT
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 January 2022.
OBJECTIVES AND ACTIVITIES
The objects of the charity are:
• to promote the efficiency and effectiveness of charities, social enterprises and other voluntary and community organisations and the effective use of their resources for the benefit of the public by developing, promoting, co-ordinating and supporting community accountancy services and through the provision of support, information and training for financial management and control.
• To provide support in the form of cost effective accountancy services and financial capacity building for vulnerable individuals and their families in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage.
In particular but not exclusively in Cornwall and the surrounding areas.
In brief we want to help charities meet their statutory obligations and understand their financial requirements easily so that they can concentrate on their true charitable activities. Feedback from our clients confirms that once the finances are in order and understood the impact of their charitable activities can increase.
We amended the objects in March 2013 to include assistance for individuals as this is an area which is not currently addressed but becoming more necessary with the introduction of personal budgets for those needing health care services.
The Trustees have had regard to the Charity Commission guidance on public benefit in preparing this report and have ensured that in planning activities year on year that identifiable benefits are attained for our clients and beneficiaries.
ACHIEVEMENTS AND PERFORMANCE
Once again our activities matched those of most of our clients during the year in that we have been coming out of the effects of the Coronavirus pandemic and determining the new way forward. Our project undertaken to assist clients with the impact of the pandemic concluded successfully. We thank Sam Hoskin for her work on the project. We have then moved into an extremely busy period trying to catch up from the extended deadlines that were allowed by both Companies House and the Charity Commission.
We worked with 71 clients on our usual work of independent examinations, payroll and bookkeeping (50 in 2020/21). This increase was partly due to the increased demand from clients due to our project work and partly in taking over clients from CasKernow, a process which is ongoing after the year end. .
FINANCIAL REVIEW
The income for the year has decreased by 17% to £47,782 (2021 £57,802). This is due to the reduction in grants with both the Lottery and Cornwall Council in the prior year. Expenditure has however risen by 4% to £52,613 (2021 £50,752) which is due to the cost of increasing the skills of the core team in order to take on additional income. The resulting deficit in unrestricted funds being £4,277 (2021 surplus £5,725).
Page 3
Cornwall Community Accountancy Serviee TRUSTEES ANTr4UAL REPORT The tsvstces fr¢1 that a r¢5¢rve of 3 months running costs is appropriate to cover the needs of the organisation in the event of emergencies. Looking at the costs for 2021 this would be £13,153. The actual reserves of £9,387 (2021 £13.644) show that fier recovcry work to increase illcome is required. Trustees are kept fully infornied of risks to which Ihe cllarity is exposed and the Steps taken to mitigate, where possible, their impact. The Charity is managed to ensure minimum risk with low cost commitments An order to achieve the charitable objectives. In addition, the principles of best practicc are in¢orporated within all work perfornied. STRUCTURE, GoVERANcE AND MANAGEMENT CCAS is a charitable company limited by guarantee. incorporated on 21 sl March 2012. The goveming document is Ihe Memorandum and Articles of Association. Clause 6 of the Mernorandum restricts the liability of each member, a5 defined by clause 7,to ten pounds in the event of the Charity being wound-up. The Charity cannot pay dividends and musl utilise all its funds to further its stakd charitable objectives. At 31 st January 2022, there were three members. Truste¢s'. Th¢ Board of Trust¢¢s is th¢ 8ov¢rning body of th¢ Charity and dct¢nnin¢s policy. It is also responsible for the ovcrnll mana8¢m¢nt of the Charity and for ensuring thal approved pulici¢b are implemented by staff, consultsnts and volunteers. The Board of TnJste¢5 meets at Icasl four times per annum. New trustees ar¢ appoinled by the Board of Tnlees, and at any time there should not be fewer than two trustees. Staff & con5ultants.' D¢bbie Risborough(FCCA) r¢mains Ihe principal accountant and Chief Executive Officcr of the Lharily. The team at the end of the year were.. Ellie Mills - an ACCA qualified accountant Charlotte Excelby - a kicksiart traine¢ Danny Batten (ICMA) Continues to support us as a sub-contractor. The Tru31¢¢s are r¢sponsiblc for keeping proper accounting r¢cords that dis¢los¢ with reasonablc accuraiy al any time the finan¢ial position of th¢ charity and to cnable them to ensur¢ that th financial statements comply with the Companics Act 2006. The Trusl¢cs are aL50 responsible for safeguarding the assets of the charity and hen¢¢ taking reasonable sleps for thc prevention and det¢ction of fraud and other irregularities. Thc above report has b¢cn prepared in accordancc with the provisions applicabl¢ to compani¢s subject to the small companies regime as set out in Pan 15 of the CompAnies Act 2006 And in dccordance with the C.haritics SORP (FRS 102). Signed on behalf of the board John Acotnley Trustee 13 October 2022 Page 4
Independent Examlnerfs Report to the Trustees of CORNWALL COMMUNITY ACCOUNTANCY SERVICE I report on the accounts of the company for the year ended 31#t March 2022 whlch are set out on pages 6 to16 Rgsponslblllt108 and ba•ls of rnport A8 Ihe charlty trugtees of the company land 8180 its dlrectors for the purpos88 01 company lawl you are r89ponsibk for the prepaf8llon of the accounts In 8¢¢ordance wlth Ihe requlrem8nts ol the Companles Acl 20061.the 2006 Act,). Having satisfied myseff that thg 8CCA)unts ol the company aré nol requlred to be audlted under Part 16 of tho 2006 Act and are eligible lor independent examlnallon, I report In respect of my examinalK)n of your company's accounts as Carried out under secl*?n 145 of Ihe Charities Act 20111'the 2011 Act.). In cArryiNJ out my examinalton I have followgd the Directions given by the Charty Commlsslon under sectlon 14515Xb) of the 2011 Act. Independenl examlnef • slatement I have completed my examlnatlon. I confirm that no matters have comè to my attenllon In ¢onnecUon wlth the examination gIng me cau8e to belleve Ihat in any fflaterial respeGI: ccounling records were nol kept In respoct of the company 88 requlred by sect]on 386 of Ihe 2006 Act", or 2. Ihe accounts do not arKord with those records", or Ihe accounts do not cornp with the 8ccounllng requlrements of 9eclion 396 of Ihe 2006 Act other than any requirement Ihat the accounts 9fve a Irue and falr vlew. whlch Is not 8 matter consSdered as part of an independent exarninatson., or 4. the accounts have not been prepared In accordance with the melhods and principles of the Slatement of RernMended Pradce lor accounllng and reporflng by charilles lapplicable to charFties preparlng their 8ccounls in accordance with the Financial Reporting Standard applicable In the UK and Republi¢ of Ireland (FRS 102)}. I have no concems and have come across no other matters In connection with the examination lo whSch 8ttenlion should be drawn In this report in order to enable a proper underslanding of the accounts lo be reached. Dlck Maule FCA The Cn5 House South Woodchester GL5 SEL Dale
Cornwall Community Accountancy Service STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 January 2022
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Investments 6 Total Expenditure on: Charitable activities 7 Total Net gains on investments Net (expenditure)/income 8 Net (expenditure)/income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestrict ed funds 2022 £ 283 42,522 1 |
Restricted funds 2022 £ - 4,976 - |
Total funds 2022 £ 283 47,498 1 |
Total funds 2021 £ 1,545 56,250 7 |
|---|---|---|---|---|
| 42,806 47,083 |
4,976 5,530 |
47,782 52,613 |
57,802 50,752 |
|
| 47,083 - |
5,530 - |
52,613 - |
50,752 - |
|
| (4,277) | (554) | (4,831) | 7,050 | |
| (4,277) | (554) | (4,831) | 7,050 | |
| (4,277) 13,664 |
(554) 1,325 |
(4,831) 14,989 |
7,050 7,939 |
|
| 9,387 | 771 | 10,158 | 14,989 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Page 6
Cornwall Community Accountancy Serriee BALANCE SHEET at 31 January 2022 2022 Company No. 07999264 Notes 2021 Flxed assets Tan8ible assets io 1,124 1,124 1,678 1,678 Current assets Debtors 11 11.332 9,876 21.208 (12.174) 9,034 10,158 10,158 12,212 14,994 27,206 (13,895) 13,311 14,989 14,989 Cash at bank and in hand Creditors: Amount falling du¢ within one year Net current Assets Total As8¢t$ les8 currene Ilabllltles Net assets excludlng penslon asset or114blllty Total net As$¢ts 12 10.158 14,989 The thnds of the ¢harlty Restricted funds Resiricled income funds 13 771 1,325 1,325 771 Unrestrlct¢d funds Generdl funds 13 9,387 9,387 13,664 13,664 Total funds 10,1511 14,989 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relaling to small companies. For Ihe year ended 31 January 2022 the company was ¢ntitled to exemption under s¢ction 477 of the Companies Act 2006 lating to small companies. The members have not required the company to obtain an audil in accordance with s¢ction 476 of the Companies Act 2006. Thc dir¢¢tors acknowledge their r¢sponsibilities for complying with th¢ requirements of the Companies Act 2006 with respect to accounting records and the preparation of acwunt5. Approved by the board on 13 October 2022 And signed on its behalf by.. John Acornley Trustee 13 October 2022 Page 7
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
for the year ended 31 January 2022
1 Accounting policies
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)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The charity constitutes a public benefit entity as defined by FRS102.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
| Fund accounting | |
|---|---|
| Unrestricted funds | These are available for use at the discretion of the trustees in furtherance of |
| the general objects of the charity. | |
| These are unrestricted funds earmarked by the trustees for particular | |
| Designated funds | purposes. |
| Revaluation funds | These are unrestricted funds which include a revaluation reserve |
| representing the restatement of investment assets at their market values. | |
| Restricted funds | These are available for use subject to restrictions imposed by the donor or |
| through terms of an appeal. |
Page 8
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
Income
| Income | Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS |
|---|---|
| Recognition of | Income is included in the Statement of Financial Activities (SoFA) when |
| income | the charity becomes entitled to, and virtually certain to receive, the income |
| and the amount of the income can be measured with sufficient reliability. |
| Income with related | Where income has related expenditure the income and related expenditure |
|---|---|
| expenditure | is reported gross in the SoFA. |
| Donations and | Voluntary income received by way of grants, donations and gifts is |
| legacies | included in the the SoFA when receivable and only when the Charity has |
| unconditional entitlement to the income. | |
| Tax reclaims on | Income from tax reclaims is included in the SoFA at the same time as the |
| donations and gifts | gift/donation to which it relates. |
| Donated services | These are only included in income (with an equivalent amount in |
| and facilities | expenditure) where the benefit to the Charity is reasonably quantifiable, |
| measurable and material. | |
| Volunteer help | The value of any volunteer help received is not included in the accounts. |
| Investment income | This is included in the accounts when receivable. |
| Gains/(losses) on | This includes any gain or loss resulting from revaluing investments to |
| revaluation of fixed | market value at the end of the year. |
| assets | |
| Gains/(losses) on | This includes any gain or loss on the sale of investments. |
| investment assets | |
| Expenditure | |
| Recognition of | Expenditure is recognised on an accruals basis. Expenditure includes any |
| expenditure | VAT which cannot be fully recovered, and is reported as part of the |
| expenditure to which it relates. | |
| Expenditure on | These comprise the costs associated with attracting voluntary income, |
| raising funds | fundraising trading costs and investment management costs. |
| Expenditure on | These comprise the costs incurred by the Charity in the delivery of its |
| charitable activities | activities and services in the furtherance of its objects, including the |
| making of grants and governance costs. | |
| Grants payable | All grant expenditure is accounted for on an actual paid basis plus an |
| accrual for grants that have been approved by the trustees at the end of the | |
| year but not yet paid. | |
| Governance costs | These include those costs associated with meeting the constitutional and |
| statutory requirements of the Charity, including any audit/independent | |
| examination fees, costs linked to the strategic management of the Charity, | |
| together with a share of other administration costs. | |
| Other expenditure | These are support costs not allocated to a particular activity. |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page 9
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Office Equipment 33% straight line basis
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other 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.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term.
In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Page 10
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
Statement of cash flows
The charity is exempt from preparing a statement of cash flows on the grounds that it is a small charity
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
- 3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Investments Total Expenditure on: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 1,545 43,250 7 44,802 39,077 39,077 5,725 5,725 5,725 7,939 13,664 |
Restricted funds 2021 £ - 13,000 - 13,000 11,675 11,675 1,325 1,325 1,325 - 1,325 |
Total funds 2021 £ 1,545 56,250 7 |
|---|---|---|---|
| 57,802 50,752 |
|||
| 50,752 | |||
| 7,050 | |||
| 7,050 | |||
| 7,050 7,939 |
|||
| 14,989 |
Page 11
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
Income from donations and
4 legacies
| Appeals and donations Donated Services 5 Income from charitable activities Grant Income: National Lottery Community Fund Cornwall Council Cornwall College Primary Purpose Trading: Accountancy Services Training Income Other 6 Income from investments Interest on cash deposits |
Unrestricted £ - - - 40,789 - 1,733 42,522 |
Unrestricted £ 283 - 283 Restricted £ - - 4,976 - - - 4,976 Unrestricted £ 1 1 |
Total 2022 £ 283 - 283 Total 2022 £ - - 4,976 40,789 - 1,733 47,498 Total 2022 £ 1 1 |
Total 2021 £ - 1,545 |
|---|---|---|---|---|
| 1,545 | ||||
| Total 2021 £ 13,000 10,000 - 32,746 25 479 |
||||
| 56,250 | ||||
| Total 2021 £ 7 |
||||
| 7 |
Page 12
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
Expenditure on charitable 7 activities
| Direct expenditure on charitable activities Reference material Client companies house fees Support Costs Wages Pensions Staff training Staff welfare Rent & rates Insurance Repairs & renewals Telephone and fax IT expenses Printing, postage and stationary Subscriptions Marketing and promotion Consultancy fees Legal and professional fees Specific Bad Debts written off Bank charges Depreciation Governance costs Independent examination of the charity's accounts 8 Net (expenditure)/income before transfers This is stated after charging: Depreciation of owned fixed assets Independent Examiner's fee |
Unrestricted £ 95 543 18,198 187 - 266 2,500 346 87 749 3,433 61 188 632 19,264 26 - 88 - 420 47,083 |
Restricted £ - - 3,530 - 201 - - - - - - - - - 1,245 - - - 554 - 5,530 2022 £ 554 420 |
Total 2022 £ 95 543 21,728 187 201 266 2,500 346 87 749 3,433 61 188 632 20,509 26 - 88 554 420 52,613 |
Total 2021 £ - 213 19,326 187 113 1,750 2,500 345 88 486 2,475 241 392 2,980 18,887 213 78 58 - 420 |
|---|---|---|---|---|
| 50,752 | ||||
| 2021 £ - 420 |
Page 13
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
| 9 Staff costs Salaries and wages 21,728 Pension costs 187 21,915 No employee received emoluments in excess of £60,000. |
19,326 187 |
|---|---|
| 19,513 | |
| Total remuneration of key management personnel is shown below and is included partly in the wages and salaries figures above and partly in consultancy fees that are shown in note 7. Total employee benefits received by key management personnel 22,101 The average monthly number of employees during the year was as follows: 2022 Number Charitable activities 3 3 10 Tangible fixed assets Office Equipment £ Cost or revaluation At 1 February 2021 3,810 At 31 January 2022 3,810 Depreciation and impairment At 1 February 2021 2,132 Depreciation charge for the year 554 At 31 January 2022 2,686 Net book values At 31 January 2022 1,124 At 31 January 2021 1,678 11 Debtors 2022 £ Trade debtors 10,622 Other debtors 710 11,332 |
19,999 2021 Number 3 |
|---|---|
| 3 | |
| Total £ 3,810 |
|
| 3,810 | |
| 2,132 554 |
|
| 2,686 | |
| 1,124 | |
| 1,678 | |
| 2021 £ 12,212 - |
|
| 12,212 |
Page 14
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
12 Creditors:
amounts falling due within one year
| Trade creditors Other taxes and social security Accruals and deferred income 13 Movement in funds Restricted funds: Restricted income funds: National Lottery Kick Start Total Unrestricted funds: General funds Revaluation Reserves: Total funds |
At 1 February 2021 1,325 - 1,325 13,664 14,989 |
2022 £ 9,305 180 2,689 12,174 Incoming resources (including other gains/losses) £ - 4,976 4,976 42,806 47,782 |
Resources expended £ (554) (4,976) (5,530) (47,083) (52,613) |
2021 £ 1,304 170 12,421 |
|---|---|---|---|---|
| 13,895 | ||||
| At 31 January 2022 £ 771 - |
||||
| 771 | ||||
| 9,387 | ||||
| 10,158 |
Purposes and restrictions in relation to the funds:
| Restricted funds: | |
|---|---|
| National Lottery | Funding to assist clients with the effects of Covid19 |
| Kick Start | Funding for a trainee |
Analysis of net assets between 14 funds
| Fixed assets Net current assets |
Unrestricted funds £ - 9,034 9,034 |
Restricted funds £ 1,124 - 1,124 |
Total £ 1,124 9,034 |
|---|---|---|---|
| 10,158 |
Page 15
Cornwall Community Accountancy Service NOTES TO THE ACCOUNTS
15 Contingent Assets/Liabilities
During the 2014/15 year a substantial amount of client work was undertaken by the Chief Executive and Principle Accountant Debbie Risborough that has not yet been invoiced. The reason for this being due to the requirement to develop the team prior to staff being able to take over the client commitments. The time incurred was a total of 477.75 hours valued at £14,333. The current value outstanding is £12,833. Ms Risborough has agreed that work will only be invoiced in the future when the charity has built a sufficient surplus to enable payment or when the charity has a sufficient client base to support payment of a salary to Ms Risborough from which the flexi-time balance will be deducted as time off in lieu. Remuneration arrangements have been now been revised to ensure there is no further liability that can arise.
16 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 16