**REGISTERED CHARITY NUMBER: 1152306** 


**Report of the Trustees and Independently Examined Financial Statements for the year ended 30 April 2023 for COATS Crowthorne** 


1 



**COATS Crowthorne** 

**Report of the Trustees for the year ended 30 April 2023** 

||Page|
|---|---|
|Charity Information|3|
|Report of the Trustees|4 to 7|
|Independent Examiner’s Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Financial Statements|11 to 20|
|**The following pages do not form part of the statutory financial statements**||
|Detailed Statement of Financial Activities|21 to 22|



2 



**COATS Crowthorne** 

**Report of the Trustees for the year ended 30 April 2023** 

## **NAME:** 

**COATS Crowthorne,** known and operates as COATS 

**TRUSTEES:** Peter Hutterli Chairman Chris Threlfall Treasurer Yvonne Hattersley Secretary Richard Cox Roger Fox David Wilson Martin Rickards Cathy Behan David Briggs Appointed 24.10.2022 Derec Craig Appointed 23.05.2022 Claire Dingley Appointed 20.03.2023 **SECRETARY:** Yvonne Hattersley **REGISTERED CHARITY No.:** 1152306 **PRINCIPAL ADDRESS:** The COATS Centre Pinewood Avenue Crowthorne Berkshire RG45 6RQ **INDEPENDENT EXAMINER:** G Robinson FCA Stewart & Co. Knoll House Knoll Road Camberley Surrey GU15 3SY **BANKERS:** CAF Bank Ltd 25 Kings Hill Road Kings Hill, West Malling Kent ME19 4JQ The Co-operative Bank 1 Balloon Street Manchester M60 4EP CCLA Investment Management Ltd Senator House 83 Queen Victoria Street London EC4V 4ET Quilter Cheviot Ltd Senator House 85 Queen Victoria Street London EC4V 4AB 

3 



**COATS Crowthorne** 

## **Report of the Trustees for the year ended 30 April 2023** 

The Trustees present their report with the financial statements of the Charity for the year ending 30 April 2023. 

The financial statements comply with the Charities Act 2011 and 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 2019). 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The Charity was founded in November 1966 and was governed by its Constitution dated 17 March 1970 as amended on 19 October 1999 and 17 October 2005. However, following an Extraordinary General Meeting held on 18 March 2013, application was made to the Charity Commission to become a Charitable Incorporated Organisation (CIO), with virtually the same objectives, and this was accepted. The new CIO, with Charity number 1152306, was registered on 6 June 2013, and began operating from 1 August 2013, when it received all the assets and liabilities of the unincorporated Charity number 259897. 

The name of the charity was changed to COATS Crowthorne following approval by the Members at the Annual General Meeting held on 26h September 2022. The Trustees believe that the previous name of Crowthorne Old Age to Teen Charity was unwieldly and needed to be modernised to align with the well-known name of our successful charity shop. 

## **Recruitment, induction, training of new Trustees** 

Prospective Trustees are identified as potential Trustees of the Charity and are recruited by word of mouth or by selective advertising. They are then invited to a meeting or two to see whether they are happy to undertake the responsibilities. If so, they are proposed for election at the next Annual General Meeting. According to the Constitution, casual vacancies occurring during the tenure of that electoral group may be filled by co-option by the Committee for the remainder of the period. 

New Trustees undertake an induction process that includes being made aware of their responsibilities as Trustees, the governing document, administrative procedures and the history and philosophical approach of the Charity. The Secretary supplies each new Trustee with copies of the previous year's Annual Report and Accounts and a copy of the Charity Commission publications ‘The Essential Trustee: An Introduction’ and 'The Essential Trustee: What You Need to Know'. 

## **Organisational structure** 

Management of COATS Crowthorne is vested in between 6 and 15 Trustees, but normally 12, who form the Committee. The Trustees elect the Officers who comprise the Chairman, Treasurer and Secretary. The Trustees are elected at the Annual General Meeting. One third of Trustees must stand down each year, but can stand for re-election. Day-to-day management of The COATS Centre is delegated to the Centre Manager. 

## **Risk management** 

The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. All policies and procedures are regularly reviewed and updated as necessary. 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

The object of the Charity is “to promote the relief of the elderly in Crowthorne and surrounding area in any manner which now or hereafter may be deemed by law to be charitable”.  Both Bracknell Forest Council and Wokingham Borough Council cover this area. 

The people we serve come from all sections of society and a wide variety of circumstances. Many are widowed and potentially lonely, of varying frailty and mobility, and most are receiving some form of medical attention. 

We welcome all older people regardless of personal background, faith, gender or personal circumstances, as we believe this philosophy of openness to all enriches everyone, through the sharing of skills, aptitudes and life experiences of older people and volunteers. 

Following the closure of residential services at Woodmancote in October 2003, regular Day Centre facilities were reopened in June 2004 for one day a week, and these have been progressively extended. The current prime aim of the Charity is to maximise the use of The COATS Centre, and to deliver a growing number of services to an increasing number of older people in Crowthorne. 

4 



## **COATS Crowthorne** 

## **Report of the Trustees for the year ended 30 April 2023** 

## **Significant activities** 

To meet these objectives, the Charity has gradually increased the number of services it is able to provide and is continually seeking to extend these, as funds become available. The Trustees keep in mind the Charity Commission’s Guidance on public benefit when looking into these services, thereby complying with the duty in section 17(5) of the 2011 Charities Act to have due regard to the guidance published.  Currently the Charity provides:- 

- A Social Centre where older people can meet in a warm, bright and friendly environment. The Centre is open daily from Monday to Friday. 

- A meal service which offers a freshly cooked two course meal prepared in our own well-equipped kitchen, five days a week, including tea and coffee, from 9 am until 4 pm (but 2:30pm Friday) 

- Social activity, in the form of keep-fit classes, dancing, talks, musical events, quizzes, skittles, themed days, use of tablet computers and many other events. 

- Assistance to older people suffering from early stages of dementia. The Charity is able to help bridge the gap between mild sufferers of dementia, who are able to attend without difficulty, and the more serious cases, who are then helped to obtain specialist care. 

- Respite cover for carers during the day. 

- Help to older people in need, following a bereavement or illness, through a growing network of churches, local doctors and other organisations. 

- Transportation for those unable to make their own way to The Centre, through the use of the COATS’ mini-bus. This is able to transport up to 8 people on one journey, including a wheelchair. Several journeys are undertaken each day. 

- Facilities for other local charities that provide support for older people. 

- Opportunities to get advice on a range of important matters relating to older people. 

The Charity, in pursuing all its activities, is enthusiastically supported by about one hundred volunteers many of whom are older persons themselves, who not only help in The COATS Centre, but also drive the minibus, and especially manage and operate the COATS Charity Shop at 227 High Street, Crowthorne, which is so vital to the funding of the Charity. In addition, the dedicated Fundraising committee organise many very popular and enjoyable events throughout the year, raising valuable funds for the Charity. 

COATS, therefore, makes a major contribution to the well-being of many of the older people of Crowthorne, thereby reducing and delaying the need for more costly forms of support. Taken together with the contribution of the staff and all the volunteers, COATS offers a valuable service and enjoys a central position in the life of the community of Crowthorne. 

## **CHAIRMAN’S REPORT ON ACTIVITIES** 

After all the drama and moving around of the two COVID years, this year has been a welcome return to normality for all of us at COATS. 

## **The Centre** 

I am pleased to say that Visitor numbers have been rising steadily through the year and by the end of the year to May 2023 we had over 5,600 visits, up by more than 60% on 2021-2022.  This is a testament to the wonderful work that the staff have been doing all year. 

Now we are through COVID, the Centre is putting on much more entertainment and activities and our Visitors are loving it !  Just follow our Facebook page to see what everyone is up to every week: https://www.facebook.com/COATScrowthorne 

## **The Shop** 

It was another bumper year for the Shop.  A combination of the loosening of COVID restrictions and the cost of living squeeze has been bringing people into the Shop in increasing numbers.  Our Shop customers particularly love our themed weeks, with Vintage continuing to be our most popular.  The shop volunteers have been working particularly hard to keep up with the demand and they continue to be the stars of COATS volunteering a significant amount of their time and making the Shop a big asset not just to COATS but to the village as a whole. 

In September 2023, we plan to be taking on the lease of an adjacent shop premises that will add to the floor space of our existing shop and help better display items for sale. 

5 



**COATS Crowthorne** 

## **Report of the Trustees for the year ended 30 April 2023** 

## **Volunteers** 

It is the volunteers that are the backbone of COATS and we continue to be grateful for all the hard work they do.  As well as our Shop Volunteers, we also have all our Bus Drivers and Passenger Assistants, Centre Assistants, Events Coordinators and many others who help out with a range of activities from making marmalade to recycling metal and textiles.  With our continuing growth we rely more and more on our volunteers and reaching out and finding more volunteers from the local community will be one or our key focuses for the coming year 

## **Trustees** 

The COVID years have seen quite a few changes in our Trustees with a “changing of the guard”.  I am delighted to say we welcomed three new Trustees last year: 

- Derec Craig, who brings a wealth of experience in our sector from his work with Age UK 

- Dave Briggs, an IT specialist whose wife Maggie also volunteers in the Shop 

- Claire Dingley, a projects specialist and our most recent recruit 

This brings our numbers back to a healthy 11. 

## **Overall** 

Despite the challenging financial environment, COATS Crowthorne has had a very successful year.  Our loss of grant funding from Bracknell Forest and Wokingham Councils has been offset by the continuing success of the Shop and generous donations from local groups like East Berks Golf Club and Crowthorne Traders.  Our focus is always to provide a great community experience for both our Visitors and our Volunteers, and we are all looking forward to the year ahead. 

## **FINANCIAL REVIEW** 

The COATS charity Shop had another excellent trading year, with total Shop income of £156,337, this is credit to all of the volunteers who run the shop and also carry out online sales, recycling of clothing and scrap metal sales. 

The loss of grant income from our two local authorities meant that the Charity received no grant income in the year compared to £19,158 in the prior year. This loss of income was partly offset by a rise in Donations and Legacies to £43,833 from last year’s total of £32,666. Particularly notable were the kind donations from East Berkshire Golf Club, The Crowthorne Business Association and Tesco Community Fund. The Trustees very much appreciate the generosity of all our many donors. 

The rise in energy costs over the year meant that our Light, Heat, Rates and Water costs for the Centre were £14,788, an increase of £6,672 from the prior year. The fall in energy tariffs over Summer 2023, together with new, fixed price contracts should help protect the Charity from further increases in costs in the short term. 

The overall Net Income for the year was £49,052 which when added to the opening Total Funds of £485,331 gives a closing balance of Total Funds of £534,383. Restricted Funds of £2,088 are included in the closing balance of Total Funds. The Charity is therefore in a very healthy financial position and the Trustees are confident that this will allow the Charity to both improve and expand our current scope of charitable activities. 

We are greatly indebted to Gary Robinson of Stewart & Co who has acted as our Independent Examiner and assisted in the preparation of these Reports and Accounts. 

Under the terms of our Constitution, full responsibility for all assets, liabilities and activities of the Charity is vested in the Trustees. The Charity can therefore make any lawful investment which the Trustees see fit. 

## **RESERVES POLICY** 

It is the policy of the Charity to maintain reserves at a sufficient level to enable it to continue its current operations for at least twelve months. Undesignated and unrestricted funds at the end of April 2023 stood at £534,383 (2022: £481,620), of which £196,777 is in cash. 

6 



**COATS Crowthorne** 

## **Report of the Trustees for the year ended 30 April 2023** 

## **RESPONSIBILITIES OF THE TRUSTEES** 

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. 

The law applicable to charities in England and Wales requires the Charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, of the Charity for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently. 

- observe the methods and principles in the Charities SORP. 

- make judgements and estimates that are reasonable and prudent. 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- 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 Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking all reasonable steps for the prevention and detection of fraud and other irregularities. 

The annual report and financial statements set out on pages 8 to 20 were approved by Trustees and authorised for issue on 21 August 2023 and signed on behalf of the Board of Trustees by: 



............................................. P Hutterli, Chairman and Trustee Date: 21 August 2023 

………………………………….. 

C Threlfall, Treasurer and Trustee Date: 21 August 2023 

7 



## **Independent Examiner’s Report to the Trustees of COATS Crowthorne for the year ended 30 April 2023** 

## **Independent Examiner’s report to the Trustees of COATS Crowthorne** 

I report on the accounts of the Charity for the year ended 30 April 2023, which are set out on pages 8 to 20. 

## **Respective responsibilities of Trustees and Examiner** 

As the Charity’s Trustees of COATS Crowthorne you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). 

I report in respect of my examination of the COATS Crowthorne’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent Examiner’s statement** 

Since the COATS Crowthorne’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 ICAEW, which is one of the listed bodies. 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of COATS Crowthorne as required by section 130 of the Act; or 

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

3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 


G Robinson FCA Stewart & Co Knoll House Knoll Road Camberley Surrey GU15 3SY 

**Date:** 21 August 2023 

8 



## **COATS Crowthorne** 

## **Statement of Financial Activities for the year ended 30 April 2023** 

|||||**2023**|2022|
|---|---|---|---|---|---|
||**Note**|**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|||**£**|**£**|**£**|£|
|**INCOME**||||||
|Donations and legacies|**2**|**44,278**|**-**|**44,278**|52,656|
|Income from other trading activities|**3**|**156,337**|**-**|**156,337**|135,337|
|Investment income|**4**|**50,317**|**-**|**50,317**|37,699|
|Income from charitable activities|**5**|**39,148**|**-**|**39,148**|22,791|
|Other income|**6**|**-**|-|**-**|5,131|
|||______|______|______|______|
|**TOTAL INCOME**||**290,080**|**-**|**290,080**|253,614|
|||______|______|______|______|
|**EXPENDITURE**||||||
|Costs of raising funds|**7**|**(34,641)**|**-**|**(34,641)**|(32,925)|
|Expenditure on charitable activities:|**10**|**(203,003)**|**(1,623)**|**(204,626)**|(170,178)|
|||______|______|______|______|
|**TOTAL EXPENDITURE**||**(237,644)**|**(1,623)**|**(239,267)**|(203,103)|
|||______|______|______|______|
|Net gains/(losses) on investments||**(1,761)**|**-**|**(1,761)**|2,908|
|||______|______|______|______|
|**NET INCOME AND NET MOVEMENT IN**||||||
|**FUNDS FOR THE YEAR**||**50,675**|**(1,623)**|**49,052**|53,419|
|**RECONCILIATION OF FUNDS**||||||
|Total Funds brought forward||**481,620**|**3,711**|**485,331**|431,912|
|||______|______|______|______|
|**TOTAL FUNDS CARRIED FORWARD**|**22**|**532,295**|**2,088**|**534,383**|485,331|
|||______|______|______|______|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

The notes on pages 11 to 20 form part of these financial statements 

9 



## **COATS Crowthorne** 

## **Balance Sheet as at 30 April 2023** 

|||||**2023**|2022|
|---|---|---|---|---|---|
||**Note**|**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|||**£**|**£**|**£**|£|
|**FIXED ASSETS**||||||
|Tangible assets|**18**|**166,295**|**-**|**166,295**|174,401|
|Investments|**19**|**186,035**|**-**|**186,035**|187,796|
|||_______|_______|_______|_______|
|**TOTAL FIXED ASSETS**||**352,330**|**-**|**352,330**|362,197|
|||_______|_______|_______|_______|
|**CURRENT ASSETS**||||||
|Debtors|**20**|**452**|**-**|**452**|252|
|Cash at bank and in hand|**24**|**194,689**|**2,088**|**196,777**|137,828|
|||_______|_______|_______|_______|
|**TOTAL CURRENT ASSETS**||**195,141**|**2,088**|**197,229**|138,080|
|**LIABILITIES**||||||
|Creditors falling due within one year|**21**|**(15,176)**|**-**|**(15,176)**|(14,946)|
|||_______|_______|_______|_______|
|**NET CURRENT ASSETS**||**179,965**|**2,088**|**182,053**|**1**23,134|
|||_______|_______|_______|_______|
|**NET ASSETS**||**532,295**|**2,088**|**534,383**|485,331|
|||_______|_______|_______|_______|
|**THE FUNDS OF THE CHARITY**||||||
|Unrestricted income funds|**23**|**532,295**|**-**|**532,295**|481,620|
|Restricted income funds|**23**|**-**|**2,088**|**2,088**|3,711|
|||_______|_______|_______|_______|
|**TOTAL CHARITY FUNDS**||**532,295**|**2,088**|**534,383**|485,331|
|||_______|_______|_______|_______|



The financial statements were approved and authorised for issue by the Board of Trustees on 21 August 2023 and were signed on its behalf by: 



……………………………………… P Hutterli – Trustee 

……………………………………… C Threlfall – Trustee 

The notes on pages 11 to 20 form part of these financial statements 

10 



**COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **1. ACCOUNTING POLICIES** 

## **1.1 General Information** 

The charity is a registered charity in England and Wales and is a Charitable Incorporated Organisation (CIO), charity number 1152306 

## **1.2 Statement of Compliance** 

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 2019) - (Charities SORP (FRS 102)), and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

## **1.3 Basis of preparation** 

The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). 

The financial statements are prepared in sterling, which is the functional currency of the entity. 

Monetary amounts in these financial statements have been rounded to the nearest £ 

## **1.4 Exemption from preparing a cash flow statement** 

The charity is a small charity and has utilised the small entity exemption from producing a statement of cash flows. 

## **1.5 Preparation of the accounts on a going concern basis** 

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements. 

The Trustees are of the opinion that the Charity will have sufficient resources to meet its liabilities as they fall due. The Charity reported a cash funds inflow of £50,018 for the year and has undesignated and unrestricted funds of £531,365. 

## **1.6 Income Income recognition** 

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 with sufficient reliability. 

## **Grants and donations** 

Grants and donations are only included in the Statement of Financial Activities (SoFA) when the general income recognition criteria are met. 

In the case of performance related grants, income must only be recognised to the extent that the Charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met. 

## **Legacies** 

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. 

## **Government grants** 

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. 

## **Tax reclaims on donations and gifts** 

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. 

## **Donated goods and services including volunteers** 

The value of donated goods for resale is recognised as income when sold as the Charity deems it impractical to estimate the fair value of the donated goods for resale on receipt. The proceeds of sale are categorised as “Income from other trading activities” in the SoFA. 

The value of any voluntary help received is not included in the accounts but is described in the Trustees’ Annual Report. 

## **Income from interest and dividends** 

This is included in the accounts when receipt is probable, and the amount receivable can be measured reliably. 

11 



**COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **1. ACCOUNTING POLICIES (** _**continued**_ **)** 

## **Income from membership subscriptions** 

Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. **Investment gains and losses** 

This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 

## **1.7 Expenditure recognition** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. 

The cost of generating funds includes fund raising costs, trading costs and investment management charges. The cost of charitable activities includes the payroll costs of the COATS Centre staff, and day-to-day running costs of the COATS Centre as shown in note 10. 

Governance costs include costs of the preparation and examination of statutory accounts, the costs of Trustee meetings and cost of any legal advice to Trustees on governance or constitutional matters. 

## **1.8 Allocation and apportionment of costs** 

Certain expenditure is directly attributable to specific activities and has been reported in those expenditure categories. 

## **1.9 Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

|Freehold property|-|2% on buildings on cost but not provided on land|
|---|---|---|
|Freehold improvements|-|10% on cost|
|Fittings and equipment|-|20% on reducing balance|
|Motor vehicles|-|25% on reducing balance|
|Computer equipment|-|33.3% on cost|



Assets are assessed on their merits to determine whether or not they should be capitalised. As a general rule, assets under £1,000 are not capitalised. 

**1.10 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The SoFA includes the net gains and losses arising on revaluation and disposals throughout the year. 

## **1.11 Taxation** 

The Charity is a registered charity and is exempt under Part 11 of the Corporation Tax Act 2010 on its income and section 256 of the Taxation of Chargeable Gains Act 1992 on its capital gains. 

The Charity is registered for VAT in order to claim VAT on Shop expenditure (Sales are zero rated). The Centre continues to enjoy exempt status - irrecoverable VAT is charged against the expenditure heading for which it was incurred. 

## **1.12 Operating leases** 

Rentals payable under operating leases are charged against income on a straight-line basis over the lease term. 

## **1.13 Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in note 22 to the financial statements. 

## **1.14 Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a maturity of one year from the date of acquisition or opening of the deposit or similar account. 

## **1.15 Creditors** 

Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **1.16 Pension costs and other post-retirement benefits** 

The Charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Charity. There were no outstanding contributions at the year end. Contributions payable to the employees’ stakeholder pension schemes are charged to the SoFA in the period to which they relate and are detailed in note 14. 

12 



## **COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **2. DONATIONS AND LEGACIES** 

|**2.**|**DONATIONS AND LEGACIES**||||||
|---|---|---|---|---|---|---|
||||**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|||**Notes**|**Funds**|**Funds**|**2023**|2022|
||||**£**|**£**|**£**|£|
||Donations, gifts, and legacies||**43,833**|**-**|**43,833**|32,666|
||Grants|**16**|**-**|**-**|**-**|19,158|
||Membership subscriptions||**445**|**-**|**445**|832|
||||______|______|______|______|
||||**44,278**|**-**|**44,278**|52,656|
||||______|______|______|______|
|**3.**|**INCOME FROM OTHER TRADING ACTIVITIES – FUNDRAISING**||||||
|||||**Unrestricted**|**Total Funds**|Total Funds|
|||||**Funds**|**2023**|2022|
|||||**£**|**£**|£|
||Shop income|||**144,376**|**144,376**|121,866|
||Income from online sales|||**6,367**|**6,367**|9,856|
||Income from metal recycling|||**2,097**|**2,097**|1,222|
||Income from textile recycling|||**3,497**|**3,497**|2,393|
|||||______|______|______|
|||||**156,337**|**156,337**|135,337|
|||||______|______|______|
|**4.**|**INVESTMENT INCOME**||||||
|||||**Unrestricted**|**Total Funds**|Total Funds|
|||||**Funds**|**2023**|2022|
|||||**£**|**£**|£|
||Woodmancote House: rents and charges received|||**48,183**|**48,183**|37,635|
||Bank and deposit account interest|||**2,134**|**2,134**|64|
|||||______|______|______|
|||||**50,317**|**50,317**|37,699|
|||||______|______|______|
|**5.**|**INCOME FROM CHARITABLE ACTIVITIES**||||||
|||||**Unrestricted**|**Total Funds**|Total Funds|
|||||**Funds**|**2023**|2022|
|||||**£**|**£**|£|
||Provision of The COATS Centre facilities|||**35,196**|**35,196**|20,366|
||Provision of transport facilities|||**3,952**|**3,952**|2,425|
|||||______|______|______|
|||||**39,148**|**39,148**|22,791|
|||||______|______|______|
|**6.**|**OTHER INCOME**||||||
|||||**Unrestricted**|**Total Funds**|Total Funds|
|||||**Funds**|**2023**|2022|
|||||**£**|**£**|£|
||HMRC Job Retention Scheme|||**-**|**-**|5,131|
|||||______|______|______|
|||||**-**|**-**|5,131|
|||||______|______|______|
|**7.**|**COST OF RAISING FUNDS**||||||
|||||**Unrestricted**|**Total Funds**|Total Funds|
|||**Note**||**Funds**|**2023**|2022|
|||||**£**|**£**|£|
||Operation of charity shop|8||**24,106**|**24,106**|23,243|
||Investment management costs|9||**10,535**|**10,535**|9,682|
|||||______|______|______|
|||||**34,641**|**34,641**|32,925|
|||||______|______|______|



13 



## **COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **8. EXPENDITURE ON OPERATION OF CHARITY SHOP** 

||**Unrestricted**|**Total Funds**|Total Funds|
|---|---|---|---|
||**Funds**|**2023**|2022|
||**£**|**£**|£|
|Operating leases – land and buildings|**16,947**|**16,947**|16,947|
|Telephone|**256**|**256**|733|
|Light and heat|**1,711**|**1,711**|1,255|
|Repairs and maintenance|**709**|**709**|-|
|Other expenses|**4,483**|**4,483**|4,308|
||______|______|______|
||**24,106**|**24,106**|23,243|
||______|______|______|



## **9.** 

## **INVESTMENT MANAGEMENT COSTS** 

|**INVESTMENT MANAGEMENT COSTS**||||
|---|---|---|---|
||**Unrestricted**|**Total Funds**|Total Funds|
||**Funds**|**2023**|2022|
||**£**|**£**|£|
|Woodmancote House: Management fees|**3,806**|**3,806**|3,015|
|Woodmancote House: Water, light and heat,|**3,803**|**3,803**|2,625|
|and other costs||||
|Woodmancote House: Repairs and renewals|**2,926**|**2,926**|3,956|
|Woodmancote House: Depreciation on fittings and equipment|**-**|**-**|86|
||______|______|______|
||**10,535**|**10,535**|9,682|
||______|______|______|



## **10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITES** 

|_By Fund_||||||
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|||**Funds**|**Funds**|**2023**|2022|
|||**£**|**£**|**£**|£|
|Provision of The COATS Centre facilities||**194,778**|**1,623**|**196,401**|158,847|
|Provision of transport facilities||**8,225**|**-**|**8,225**|10,440|
|||______|______|______|______|
|||**203,003**|**1,623**|**204,626**|169,287|
|||______|______|______|______|
|_By Activity_||||||
|||**Activities**||||
|||**undertaken**|**Support**|**Total Funds**|Total Funds|
||**Note**|**directly**|**Costs**|**2023**|2022|
|Provision of The COATS Centre facilities|11,12|**182,967**|**13,434**|**196,401**|158,847|
|Provision of transport facilities||**3,389**|**4,836**|**8,225**|10,440|
|||______|______|______|______|
|||**186,356**|**18,270**|**204,626**|169,287|
|||______|______|______|______|



Included within expenditure above there are governance costs of £3,893 (2022 - £3,485) which relate directly to charitable activities. See note 12 for further details. 

14 



## **COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **11. ANALYSIS OF EXPENDITURE ON ACTIVITIES UNDERTAKEN DIRECTLY FOR PROVISION OF THE COATS CENTRE FACILITIES** 

||**CENTRE FACILITIES**|||||
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total Funds**|Total Funds|
|||**Funds**|**Funds**|**2023**|2022|
|||**£**|**£**|**£**|£|
||Wages and salaries|**113,257**|**-**|**113,257**|100,180|
||Social security costs|**3,008**|**-**|**3,008**|2,578|
||Other pension costs|**5,118**|**-**|**5,118**|4,459|
||Training and recruitment|**240**|**-**|**240**|1,015|
||Food and supplies|**17,419**|**711**|**18,130**|11,118|
||Insurance|**4,634**|**-**|**4,634**|2,906|
||Light, heat, rates and water|**14,788**|**-**|**14,788**|8,116|
||Postage and stationery|**691**|**-**|**691**|217|
||Telephone|**231**|**-**|**231**|827|
||Activities and entertainment|**2,990**|**-**|**2,990**|2,245|
||Repairs and maintenance|**7,039**|**-**|**7,039**|3,318|
||PPE|**-**|**-**|**-**|149|
||Cleaning|**3,515**|**-**|**3,515**|3,491|
||Health and safety|**1,571**|-|**1,571**|1,404|
||Waste collection|**2,917**|**-**|**2,917**|2,678|
||Other expenses|**3,926**|**912**|**4,838**|2,158|
|||______|______|______|______|
|||**181,344**|**1,623**|**182,967**|146,859|
|||______|______|______|______|
|**12.**|**SUPPORT COSTS**|||||
||_By Fund_||**Unrestricted Total Funds**||**Total Funds**|
||||**Funds**|**2023**|2022|
||||**£**|**£**|£|
||_Support Costs_|||||
||Other legal and professional fees||**2,815**|**2,815**|2,987|
||Depreciation of tangible fixed assets||**11,562**|**11,562**|12,782|
||||______|______|______|
||||**14,377**|**14,377**|15,769|
||||______|______|______|
||_Governance Costs_|||||
||Accountancy support||**2,640**|**2,640**|2,498|
||Independent examiner’s fee||**1,060**|**1,060**|1,060|
||||______|______|______|
||||**3,700**|**3,700**|3,558|
||||______|______|______|
||||**18,077**|**18,077**|19,327|
||||______|______|______|
|**13.**|**NET INCOME FOR THE YEAR**|||||
||This is stated after charging:|||||
||||**2023**||2022|
|||||**£**|£|
||Other pension costs||**5,118**||4,459|
||Depreciation||**11,562**||12,868|
||Independent examiner’s remuneration:|||||
||Independent examiner’s fee||**1,060**||1,060|
||Accountancy services||**2,640**||2,425|
||Operating lease costs – land and buildings||**16,947**||16,947|



15 



**COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **14. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL Total staff costs were as follows** 

|**KEY MANAGEMENT PERSONNEL**<br>**Total staff costs were as follows**|||
|---|---|---|
||**2023**|2022|
||**£**|£|
|Wages and salaries|**113,257**|100,180|
|Social security costs|**3,008**|2,578|
|Other pension costs|**5,118**|4,459|
||_______|_______|
||**121,383**|107,217|
||_______|_______|
|**Particulars of employees:**|||
|The average number of employees during the year was as follows:|||
||**2023**|2022|
||**No**|No|
|Day Centre facilities: The COATS Centre|**8**|6|



The average number of employees during the year was as follows: 

Day Centre facilities: The COATS Centre 

No employees received employee benefits in excess of £60,000 (2022: nil) with all employee time involved in the provision of charitable activities. 

Since 1 April 2016, the Charity has been paying contributions to The People’s Pension in order to comply with the Government’s auto-enrolment legislation. It makes the same contribution of up to 5% of the employee’s basic salary, provided this is matched by the employee. Seven employees participated in the staff pension arrangements. 

## **15. RELATED PARTY TRANSACTIONS** 

There were no related party transactions in the current or previous year. 

The Trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2022: £nil). Expenses paid to the Trustees in the year totalled £Nil (2022: £Nil). No Trustee received payment for professional or other services supplied to the Charity (2022: £nil). 

## **16. GOVERNMENT GRANTS** 

Income from government grants comprises performance related grants made by local authorities to fund the running of the COATS centre. The following is a summary of funding provided: 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Bracknell Forest Council|**-**|10,000|
|Wokingham Borough Council|**-**|6,047|
|Bracknell Forest COVID19 Grants|**-**|3,111|
||_______|_______|
||**-**|19,158|
||_______|_______|



## **17. GIFT AID** 

£612 of Gift Aid was received under the Gift Aid scheme during the year (2022: £1,796), this amount is included in Donations, Gifts, and Legacies. 

16 



## **COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **18. TANGIBLE FIXED ASSETS** 

||**Freehold**|**Freehold**|**Fittings and**|**Motor**|**Computer**||
|---|---|---|---|---|---|---|
||**Property**|**Improvements**|**Equipment**|**Vehicles**|**Equipment**|**Total**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**COST**|||||||
|As at 1 May 2022|265,425|68,598|72,679|61,116|3,213|471,031|
|Additions|-|-|3,456|-|-|3,456|
||_______|_______|_______|_______|_______|_______|
|**As at 30 April 2023**|**265,425**|**68,598**|**76,135**|**61,116**|**3,213**|**474,487**|
||_______|_______|_______|_______|_______|_______|
|**DEPRECIATION**|||||||
|As at 1 May 2022|120,042|68,598|63,120|41,773|3,097|296,630|
|Charge for the year|4,007|-|2,603|4,836|116|11,562|
||_______|_______|_______|_______|_______|_______|
|**As at 30 April 2023**|**124,049**|**68,598**|**65,723**|**46,609**|**3,213**|**308,192**|
||_______|_______|_______|_______|_______|_______|
|**NET BOOK VALUE**|||||||
|As at 1 May 2022|145,383|-|9,559|19,343|116|174,401|
||_______|_______|_______|_______|_______|_______|
|**As at 30 April 2023**|**141,376**|**-**|**10,412**|**14,507**|**-**|**166,295**|
||_______|_______|_______|_______|_______|_______|



## **19. FIXED ASSET INVESTMENTS** 

_Movement in fixed asset listed investments_ 

|_Movement in fixed asset listed investments_|||
|---|---|---|
||**2023**|2022|
||**£**|£|
|Carrying (fair) value at beginning of period|**187,796**|64,888|
|**Deduct:**value of investments sold during the period|**-**|-|
|**Add**: Additions during the period|-|120,000|
|**Add**: net unrealised gain / (loss) on revaluation|**(1,761)**|2,908|
||_______|_______|
|**Carrying (fair) value at end of year**|**186,035**|187,796|
||_______|_______|
|_Investments at fair value comprised_|||
|Listed investments|**186,035**|187,796|
||_______|_______|



All investments are carried at their fair value. 

At 1[st] May 2021 the Charity held 300 accumulation units in the COIF Charities Investment Fund (purchased on 18 October 2007 at a cost of £24,731). On 7[th] July 2021, the Charity purchased a further 263.66 accumulation units for a cost of £60,000. 

On 22[nd] April 2022, the Charity purchased 55,753.6 units in the Quilter Investors Limited QC Global Income & Growth GBP Distribution Fund for a cost of £60,000. 

Holdings in common investment funds are at the bid price. 

Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value). 

The main risk to the Charity from financial instruments lies in the combination of uncertain investment markets and volatility in yield. 

17 



## **COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **20. DEBTORS** 

|**DEBTORS**|||
|---|---|---|
||**2023**|2022|
||**£**|£|
|Other debtors and prepayments|**452**|252|
||_______|_______|
||**452**|252|
||_______|_______|



## **21.** 

## **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Trade creditors|**1,047**|2,486|
|Utility Reserve, Woodmancote House|**-**|230|
|Accruals|**14,129**|12,268|
||_______|_______|
||**15,176**|14,984|
||_______|_______|



## **22. ANALYSIS OF MOVEMENT IN FUNDS** 

||**Balance**|**Incoming**|**Resources**||**Gains and**|**Funds**|
|---|---|---|---|---|---|---|
|**1**|**May 2022**|**resources**|**expended**|**Transfers**|**losses**|**30 April 2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||||
|General fund|**481,620**|**290,080**|**(237,644)**|**-**|**(1,761)**|**532,295**|
||_______|_______|_______|_______|_______|_______|
||**481,620**|**290,080**|**(240,062)**|**-**|**(1,761)**|**532,295**|
|**Restricted funds**|||||||
|Co-op Community Fund|**711**|**-**|**(711)**|-|-|**-**|
|**Bracknell Older Peoples**|<br>**3,000**|**-**|**(912)**|**-**|**-**|**2,088**|
|**Consortium**|||||||
||_______|_______|_______|_______|_______|_______|
||**3,711**|**-**|**(1,623)**|**-**|**-**|**2,088**|
||_______|_______|_______|_______|_______|_______|
|**TOTAL FUNDS**|**485,331**|**290,080**|**(239,267)**|**-**|**(1,761)**|**534,383**|
||_______|_______|_______|_______|_______|_______|



Unrestricted funds are available to be spent for any of the purposes of the Charity. 

Restricted funds are held for the purposes specified by the donors and have been spent on those purposes or will be so spent in the coming months. 

## **23. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

||**Tangible**||**Net current**|**Total**|
|---|---|---|---|---|
||**fixed assets**|**Investments**|**assets**||
||**£**|**£**|**£**|**£**|
|Unrestricted funds|**166,295**|**186,035**|**179,965**|**532,295**|
|Restricted funds|**-**|**-**|**2,088**|**2,088**|
||_______|_______|_______|_______|
|**Total funds at 30 April 2023**|**166,295**|**186,035**|**182,053**|**534,383**|
||_______|_______|_______|_______|



18 



**COATS Crowthorne** 

## **Notes to the Financial Statements for the year ended 30 April 2023** 

## **24. ANALYSIS OF CASH AND CASH EQUIVALENTS** 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Cash at bank and in hand|**196,777**|137,828|
|Short term deposits with a maturity date within one year**-**||-|
||______|______|
||**196,777**|137,828|
||**______**|**______**|



## **25. OBLIGATIONS UNDER LEASES** 

The Charity leases the Shop from which it trades. The lease has a remaining term of almost three years and includes a provision for a three-yearly upward rent review based on the percentage increase in CPI. Future minimum rentals payable under non-cancellable operating leases are as follows: 

||**Land and buildings**|**Land and buildings**|
|---|---|---|
||**2023**|2022|
||**£**|£|
|**Amounts due:**|||
|Within one year|**16,947**|16,947|
|Within one year to five years|**12,708**|29,655|
||______|______|
||**29,655**|46,602|
||______|______|



## **Operating lease agreements where the Charity is lessor** 

The Charity owns Woodmancote House which has 5 rooms that are let to third parties. The leases are on six-month terms with provisions for annual rent reviews. 

Future minimum rentals receivable under non-cancellable operating leases are as follows: 

||**Land and buildings**|**Land and buildings**|
|---|---|---|
||**2023**|2022|
||**£**|£|
|**Amounts due:**|||
|Within one year|**39,180**|38,532|
||______|______|



**.** 

19 



## **COATS Crowthorne** 

## **Detailed Statement of Financial Activities for the year ended 30 April 2023** 

||**2023**|2022|
|---|---|---|
||**£**|£|
|**INCOME**|||
|**Donations and Legacies**|||
|Gifts, donations and legacies|**43,833**|32,666|
|Grants|**-**|19,158|
|Membership subscriptions|**445**|832|
||______|______|
||**44,278**|52,656|
||______|______|
|**Income from other trading activities**|||
|Shop income|**156,337**|135,337|
||______|______|
||**156,337**|135,337|
||______|______|
|**Investment income**|||
|Woodmancote House: rents and charges received|**48,183**|37,635|
|Bank and deposit account interest|**2,134**|64|
||______|______|
||**50,317**|37,699|
||______|______|
|**Income from charitable activities**|||
|The COATS Centre: Attendance and lunches|**35,196**|20,366|
|The COATS Centre Bus: Transport|**3,952**|2,425|
||______|______|
||**39,148**|22,791|
||______|______|
|**Other Income**|||
|Job Retention Scheme|**-**|5,131|
||______|______|
||**-**|5,131|
||______|______|
|**TOTAL INCOME**|**290,080**|253,614|
||______|______|



This page does not form part of the statutory financial statements 

20 



## **COATS Crowthorne** 

## **Detailed Statement of Financial Activities for the year ended 30 April 2023** 

||**2023**|2022|
|---|---|---|
||**£**|£|
|**EXPENDITURE**|||
|**_Costs of raising funds_**|||
|**Fundraising expenses**|**-**|-|
|**Operation of Charity Shop**|||
|Operating leases – land and buildings|**16,947**|16,947|
|Telephone|**256**|733|
|Light and heat|**1,711**|1,255|
|Repairs and maintenance|**709**|-|
|Other expenses|**4,483**|4,308|
||______|______|
||**24,106**|23,243|
||______|______|
|**Investment management costs**|||
|Woodmancote House: Management fees|**3,806**|3,015|
|Woodmancote House: Water, light and heat, and other costs|**3,803**|2,625|
|Woodmancote House: Repairs and renewals|**2,926**|3,958|
|Woodmancote House: Depreciation on improvements to freehold property|**-**|86|
||______|______|
||**10,535**|9,682|
||______|______|
|**_Charitable activities_**|||
|Wages and salaries|**113,257**|100,180|
|Social security costs|**3,008**|2,578|
|Other pension costs|**5,118**|4,459|
|Training and recruitment|**240**|1,015|
|The COATS Centre: Food and supplies|**18,130**|11,118|
|The COATS Centre: Insurance|**4,634**|2,906|
|The COATS Centre: Light, heat, Rates and water|**14,788**|8,116|
|The COATS Centre: Postage and stationery|**691**|217|
|The COATS Centre: Telephone|**231**|827|
|The COATS Centre: Activities and entertainment|**2,990**|2,245|
|The COATS Centre: Repairs and maintenance|**7,039**|3,318|
|The COATS Centre: Cleaning|**3,515**|3,491|
|The COATS Centre: Health and Safety|**1,571**|1,404|
|The COATS Centre: Waste collection|**2,917**|2,678|
|The COATS Centre: Other expenses|**4,838**|2,158|
|The COATS Centre: PPE|**-**|149|
|The COATS Centre: Other legal and professional fees|**3,008**|2,987|
|The COATS Centre Bus: Operating expenses|**3,389**|3,992|
|Accountancy support|**2,640**|2,498|
|Independent examiner’s fee|**1,060**|1,060|
|Depreciation of tangible fixed assets|**11,562**|12,782|
||______|______|
|**TOTAL EXPENDITURE**|**204,626**|203,103|
||______|______|
|**NET GAINS (LOSSES) ON INVESTMENTS**|**(1,761)**|2,908|
||______|______|
|**NET INCOME**|**49,052**|53,419|
||______|______|



This page does not form part of the statutory financial statements 

21