REGISTERED CHARITY NUMBER: 1152306 COAT- S FOR CROWTHORNE'S SENIORS Report of the Trustses and Independently Examined Financial Statsments for the year ended 30 April 2024 COATS Crowthorne The Qumns Awavd lorvoluntary S•vvk•
COATS Crowthome Report of the Trustees fortho yearended 30 April 2024 Page Charity Information Report of the Tru8t8es 4t07 Independent Examinerfs Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements 11to18 The followlng pages do not forni part of tho statutory flnanclal •tat•m•nts Detolled Stalement of Financial ActNilie$ 19to20
COATS Crowthom• Report of the Trustees for the year ended 30 Aprll 2024 NAME: COATS Crowthorne, known and opèrates as COATS TRUSTEES: Peter Hutterfi Chris Thr61fall Roger Fox David Wlson Martin Rid(ard$ David Briggs Derec Craig Claire Dingley John Norris Cathy Behan Richard Cox Yvonne Hattersley Chaimian Treasurer (Appointed 19th Augusl 2024) (Resigned 31¥1 December 2023) (Resigned 31st March 2024) (Resigned 30th September 2023) 8ECRETARY: Chris Throlfall REGISTERED CHARITY No.: 1152306 PRINCIPAL ADDRESS; The COATS Centre PinevA)od Avenue Crowlhome Berf(shir• RG45 6RQ INDEPENDENT EXAMINER: G Roblnson FCA Stewart & Co. Knoll House Knoll Road Cambedey Surrey GU15 38Y BANKERS: CAF 8ank Lld 25 Kings Hill Road Kings Hill, Vvesl Malllng Kent ME19 4JQ The Co-operative B8nk 1 Balloon Street Manchesler Meo 4EP CCLA Investrnent Management Ltd Senator House 83 Queen Victoria Slreet London EC4V 4ET Quilter Cheviot Ltd Senator House 85 Queen Victoria Street London EC4V 4AB
COATS Crowthome Rep¢>rt of the Trustees for the year ended 30 Aprfl 2024 The Trustees present their report with the financial statements of the Charity for the year ending 30 April 2024. The financial statements compty with the Charities Act 2011 and Accounting and Reporting by Charities.. Stalem8nt of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ir8land (FRS 102) {effeclN8 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Chanty was fovnd8d in November 1966 and was govemed 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 Mar¢h 2013, application was made to the Charity Commission to become a Charitablè Incorporated Organisation (CIO), with vlrtually the same objectives, and this was 8pIed. The new CIO, with Charity number 1152306, was registered on 6 June 2013, and began operating from 1 August 2013, when il received all the assets and liabili1188 of th8 unlncorporated Charity number 259897. The name of the charity was Changed to COATS Crovrthome following approval ty the Members at the Annual General Meeting held on 26h September 2022. The Trustees believe that the previous name of Crov#lhom8 Old Age to Teen Charity was unwieldly and needed to be modemised to align with the well-known name of our successful charity shop. Roerultmént, Induon, tralning of new Trustees Prospecliva Truste8s are Sdenlified as potential Trnstees of the Charity and aré r8enJited by Vrd of mouth or by selodlve advertising. They are then invited lo a méetlftg or iwo lo see whelher they are happy to undertake the responsibilities. If so. they are proposed for electlon al lh8 nexl Annual General Meetlng. According to the Constitulion, casual vacancies occurring during the tenure of that eledoral group may be filled by co-option by the Committe8 for the remainder of the period. New Trustees undertake an induction process Ihat indudes belng rnade aware of Ih8ir responsibllllles as Trustees. th• goveming document, administrative procedurns and the history and philosophical approach ol the Charity. The Secretary supplies each new Trusteo vAth coples of the previous yeaVs Annu81 Report and Accounts and a copy ol tho Charity Commission publications 'The Essential Trustee.. An Introduction, and 'Tha Essential Trustee: What You Need lo l<noNV. Organl•allonal structur• Management of COATS Crowlhome is vested in betsveen 6 and 15 Trust808, but nomally 12, who fonn the Commillee. The Trustees elect the Officers who ¢Thnpri$8 the ChAimian, Treasurer and Secretary. The Tru$tee$ are elected at the Annual General Meeting. One third of Tnjslees musl sland down each year, but can Sland for re-electlon. Day-ttrday management of The COATS Cenlre is delegated to the Centre Manager. Rl8k management The Trustees have a duty to identlfy and revlew the rlsks to whkh th• Charity is exposed and to ensure approprlale controls aro in place to provlde reasonable assurance against fraud and error. All policles and procedures are regularly reviewed and updated as necessary. OBJECTIVES AND ACTIVITIES Obj•ctlv•8 and aim$ The obJ8d of Ihe Charity is lo promole the relief of th8 elderty in Crowthome and surrounding area in any manner which now or hereafter may be deemed by law to be charitable.. 80th Bracknell Forest Council and Wokingham Borough Councll cover this ar6a. The people serve come from all sections of society and a wid8 variety of circumstances. Many are widowed and potentialty lonely, of varying frailty and mobility. and most are receiving some form of medical attention. We welcome all older people regardless of petsonal background, lailh, gender or personal circumstances, as boli8vè this philosophy of openness lo all enriches everyone, through the sharing of skills. aptitudes and lrfe experiences ol older people and volunteers. Following the dosure of residential services at Woodmancote in October 2003. regular Day Centre facilities were reopenad 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 lo deliver a growing number of services to an increasing number of older people in Crowthome. Significant activitles 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 public benefit when looking into these services, thereby comptying with the duty in section 17{5) of the 2011 Charities Aci to have due regard to th8 guidance published. CUOnI1Y the Charity provides:.
COATS Crowthom• Report of the Trustees for the year ended 30 Aprll 2024 A Social Centre where older people can meet in a wami. bright and friendly environmenL The Centre is open daily from Monday to Friday. A meal service which offers a freshly cooked Iwo course meal prepared in our own well-equipped kitchen. fwe days 0k. including tea and coffee, from g am until 4 pm (bul 2.'30pm Friday) Social activty. in thè fom) of keepfrt classes. dancing, talks, musical events. quiues, skittles. themed days. use of tablet computers and many other events. Assislance lo older people suffering from eaty stages of dementia. The Charity is able to help bridge the gap between mild suffereryJ of dementia, who are able to attend vAthout difficulty, and Ihe more serious cases. Ytho are then helped to obtain specialist care. Respite cover for carers during the day. Help io oldér péople in n8ed, following a bereavernent or illness, through a gfv4ving netsvork of churches, local doctors and other organisations. Transportation for those unable to make thelr own way to The Centre, through th8 use of the COATS. mini-bus. This is able to transport up to 8 people on one journey, including a wh88lchair. Several journeys are undertaken each day within the RG45 postal code area. Facilities for other local charities that provide support for older people. Opportunities lo gel advice on a range of important matters relating to older peopl8. The Charity. in pursuing all its activities, is enthusiastically supported by about one hundrad volunteers many of whom are older persons themselves, who not onty help in The COATS Cenlre. but also drive the minibus, and especially manage and operate the COATS Charity Shop at 227 High Street, Crovrthoma, which is so vrtal to the funding of the Charity. In addillon, the dedicated Fundraising commillee organise many very popularand enjoyable events throughout the year, rnising valuable funds lor Ihe Charlty. COATS, Iherefore, makes a major conlribution to the well-belng of many of the older people ofcrowlhome, thereby reduclnp and delaying the need for more coslty lom$ of Support. Taken logelher with the contribution of Ihe staff and all Ihe volunteers, COATS offers a valuable service and enjoys a central position in the life ol the community of Crovrthome.
COATS Crowthomè Report of the Trustees for the year endad 30 Aprll 2024 CHAIRMAN'S REPORT ON ACTIVITIES l am delighted to say that at COATS we have had another terrific year both in the Centre and the Charity Shop. The Centr• Visitor numbers continue to rise and this is largety due to the superb job done by everyone at the Centre. The themed days havg conlinued to be a great success and I'd like lo say a special thank you to all the Staff and the volunteers vtho have 4voad so hard this y8ar, nol just on welcoming 811 our visitors ev8ry day but on maklng Iheso special days such feature. You can see how much the Visitors enjoy thomselves from the delightful Facebook posls. Jusl follow our Facebook page to see what everyone is up to every week.. httPS:114vww.fac8book.comlCOATScrowthome The Shop The Trustees made a bold decision last year to acqulre the rights to use the Shop next door to our current shop. After knocking through the wall belween the Iwo shop$, some significant rènovation and lots of hard work from th8 shop volunlaers. the new shop opened for buslnéss in mid-November. hat a difference it has madè l No moro standing shouldar-ttrshoulder belween the aisles; there's now significantly more space lor our volunteers to work in, lols more shelf space for selling and it is generalty a much better place for both our volunteers and customers. sin the r•-opening, th6 shop has gono from strength to strnngth. Sale$ are up 30% on a like*for-like bas1$ making another record year for the Shop. This is importanl in $0 many ways. We have created a much beller space for our volunleers to Y( in and the In8$ed revenue ha$ $trengihened our finances in the fac8 of rising costs and losing our council funding. Volunta•rn Once again it 1$ rny pleasure lo thank all Ihe volunteers vtho conlribute 80 much of their tlmo to making COATS run smoothty. Aside from our wonderful staff in the Cenlre, COATS ig In th6 unique position of being a Charity njn almost enlirety by volunte8rn from the k)cal Community for the benefrt of people from the local communily. Shop volunteers, Bus drlvers. Centre helpefs, recycling experts, events coordlnalors and more. Our volunteers are the backbone of our Charity and we are so grateful for all the hard work they have done this y6ar to make it such a $pécial place, Tru•te•8 This year w• have M•n thre• Trusto•s leav• us.. Yvonne Hattersley was our Company Secretary and 89 our longest serving Trustee was invaluable in securing COATS, future following a difficult period more than 20 yoars ago. Richard Cox was our Facilitle8 and Bulldlngs coordinator and was instrumental in the re-development of the Centre back in 2019. Cathy 8ehan was our Trustee responsible for Health and Safety vtho used her considerable experience and expertise to bring our Health and Safety policies and practices up to date All will be greaty missed and on behalf of all the TNstees I vthild like to thank them for thè many years of servlce they gave to COATS. Overnll 2023124 was a big transition year for COATS. By significantty expanding the Shop we have made a huge leap foNrfard in making it a better place in which lo vmrk and a significant asset to both the Charity and to Crovrthome High Street. In addition, our Centre goes from strength to strength with more them8d days, morn entertainment and more Visitors. We all have a lot to look forward to in the coming year.
COATS Crowthomè Report of the Trustees forthe year ended 30 Aprll 2024 FINANCIAL REVIEW The acquisition of the new Chanty shop leases and the related refurbishment costs have had an impact of £31.004 on our Total Expendilur6 in the year. The Trustees believe that this investment is justified given the continuing success of the Charity shop and its vital contribution towards the running cosls of the COATS Centre. The record sales achieved by the Shop of £189,233 are a credit to the many volunteers who give thèir time so willingly. Grant income continues to fall away, with only one grant of £750 kindly provided in the year by Wokingham Without Parish Council. The Chanty's Investments perfomed strongty over the year producing a not. unrealised gain of £23,156 which has helped Ihe Charity to stay in surplus in a year of inflationary pressures on costs and overheads. The overall Net Income for the year was £23,683. which vthen added to the opening Total Funds of £534,383 gives a dosing balance of Total Funds of £558.066. The Charity is therefore in a very healthy financial position and the Trustees are confident that this will allow the Chanty to both improv8 and expand our current scope of charitable activities. We ar8 greatly indebted to Gary Robinson of Slewart & Co who h8$ acted as our Independent Examiner and assisted In the preparation of these Reports and Accounts. Under thé tenns of our Constitutlon, full r6sponsibility for all 8ss813, Ilabllitles and adlvllles of the Charity is vested in the Trustees. The Chanty can therefore make any lawful investmenl which the Trustees see fit. RESERVES POLICY It 1$ the policy of the Chat6ty lo m8inlain reserves at a $uffici0nt1ovel to enable It to continuo its current oporalion$ for at least Iwelve months. Unde$ignated and unrestrlcted lunds at the end ol April 2024 stood at £557,316 (2023: £534,383), of vthich £152.983 is in cash. RE8PON8IBILITIES OF THE TRUSTEES Th8 trustees are responsible for preparing the tmsle8s' report and the finanaal statements in accordance with the Unrted 'ngdom Accountlng Standard$ (United Kingdom Generalty Accepted Accounting Praclice) and applicable law and r•gulations. The law applicable to charities in England and Wales requlres the Charity Trustees to prepare financlal statemen1$ for èach year vthich give a Irua and fair view of the slate of affairs of the Charity and of the incoming regources and applicalion of resources. of the Charity lor that period. In preparing Ihese financial statements, the TNStees are required to: select surtable accounting policies and Ihèn apply them consigtentty. obserye Ihe methods and princlples in the Charilies SORP. make judgements and estimates Ihat are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any material departures disdosad and explained in thé financlal slalements., and prepare the financial stalemenls on the going concem basis unless it 13 inappropriate to presume that the Charity will continue in operation. The Trust868 are responsible for keeping proper a)untIng records that disdose with reasonable accuracy at ary time the financial position of the Charity and ènable Ihem to ensure that the finan¢i81 $t8teménts comply with the Charities A 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the Charity and hence for laking all reasonable steps for the prevention teclion of fraud and othèr irragularities. nu81 report and financial statements s out on pages 8 to 18 were app August 2023 and signed on behalf of thè Board of Trustees by.. v8d by Trustees and authorised for issue 19 P Hutterli. C Irman and Truste8 Date: 23 September 2024 C Threlfall, T surer and Trustee Dale.. 23 September 2024
Independent Examln•rf$ Rèport to the Tfustqe8 of COAT8 Crowthome fortho yoar ded 30 Aprfl 2024 Independent Examln•e• r•port to the TruJl••• of COATS Cr<w4thom• I report on Iha accounts of tho Chonty lor the year anded 30 April 2024, which sre set out on pages 8 10 18. RO8ctIV• r•spoA$lbllltl•s of Tru8t••s and Examlnor As the Charity's TnJsl•ès of COATS Crow1home you are ie$pon$lble lor the preparalboTr ol the accounts In ac¢ordance with the requir•m6nts of tho Charili•8 Act 2011 (Ihe A¢l'). I report in re$et of rny 8x8min8tion of th8 COATS Crowthom•'s ac¢ount$ carried out under section 145 of the 2011 Act and in carrying out my oxaminallon I have followed all the appllcable D¥ecllon$ gwen by lh• Charity Commission under seclion 1445)(b) of the Act. Ind•pgndont Examlnerfs stat•m•nt Sln¢e Ihe COATS cro%hOMe.8 gross Income •xc••ded £250.000 your •xamkier must be a mertier ol a boty Ilsled In 8•¢1i¢n 145 of the 2011 Acl. l nf¥m7 thal l am qualllled lo underlaka tho examination becaus• l •m a member ol ICAEW, which is ono ol Iha li8tad bodies. I have completed my exarninalion. I c(rfimi Ihat no malerial mallers have come to my altentlon in c(ff•CA1on with the éxamination giving me causo lo believe Ihat in any malenal respect.. accounting records wore not kept in ol COATS CrovAhomé as rnqulred ty sedim 130 01 Ihè Aet; or the accounts do nol accord wrth those r•cords' or 3. gcccunl¥ do not compty the accounlin9 rnqulfefflenls cenc•mlng the forni arnd eont•nt of aCCnIS s out in th• Charili6s (A¢}1$ arKI Reports) Regulations 2008 olh•r than any roquirèmont Ihql tha accounts 91 a 'In arid fair Vie which is not a fflalt•r consldor•d as part of an Independent axamlnatlon. I have no con¢wDs gnd hove Come across no other mterS in conn¢ction wllh the examinallon to %yh¢th •tt•nllon •hould b• drawn in Ihb r•port in order10 0nabl• a proper undorstan¢*ng of th• accounts to bé r6ach•d. G Robinson FCA Sl•wart & C¢ l<Ji¢Jll H¢xts• Kno# Road C8mbedty PrroY GU15 38Y Dat•: 7 OadyJ- Tr ? f
COATS Crowthome Statement of Flnanclal A¢tivltles for the yoar onded 30 April 2024 2024 Total Funds 2023 Total Funds Note Unrestrlcted Restrlct•d INCOME Donations and legacies 18,869 750 19.619 44,278 Income from other trading activities 185,679 185,679 156.337 Invostment income 59,872 59,872 50,317 Income from charitable activities 49,981 49.981 39,148 TOTAL INCOME 314,401 750 315,151 290.080 EXPENDITURE Costs of raising funds (80,865) 180,865) (34.641) Expendilure on ch8ri18ble activities.. 1228,892) {2,088) 1228,980) (204,626) TOTAL EXPENDITURE (307,757) (2,088) (309.845) {239,367) Net galnsl(1oss) on Invostments 19,137 19.137 (1,761) NET INCOME AND NET MOVEMENT IN FUNDS FOR THE YEAR 25,781 11.338) 24,443 49,052 RECONCILIATION OF FUNDS Total Funds broughl Iotward 532,295 2,088 534,383 485.331 TOTAL FUNDS CARRIED FORWARD 568.076 750 358,826 534,383 The statement of financial activities includes all gains and losseg recogni$ed in the year. All income and eXndItUre derive from conlinuing aGtivilies. The Notes on pages 11 to 18 form part of these financial statements
COATS Crowthome Balance Sheet as at 30 April 2024 2024 Total Funds 2023 Total Funds Note Unrestrfctod Restrlcted FIXED ASSETS Tangible assets Investments 18 17 206,891 208,956 206,891 208,956 166,295 186,035 TOTAL HXED ASSETS 415,847 415,847 352,330 CURRENT ASSETS Debtors Cash at bank and in hand 8.049 152,233 8,049 152,983 452 196,777 22 750 TOTAL CURRENT ASSETS 160.282 750 161,032 197,229 LIABILITIES Cfedilors falling due within one year 19 {18,053) (18.053) (15,176) NET CURRENT ASSETS 142,229 750 142,979 182,053 NET ASSETS 558.076 750 $58,826 534,383 THE FUNDS OF THE CHARITY Unrestricted income funds Restricted income funds 21 21 658,076 558,076 750 532,295 2,088 750 TOTAL CHARITY FUND8 558,076 750 558,826 534,383 The financial slatements Vre approved and authorised for i88ue ty the Board of Trustees on 23 September 2024 and were ned on its behalf by: P Hutterfi - Trustfje C Threlfa ruste• The Note$ on pages 11 to 18 forni part of these financial statements 10
COATS Crowthome Notes to the Flnanclal Statements for the year ended 30 April 2024 ACCOUNTING POUCIES General Infornmtion The charty is a registered charity in England and Wales and is a Charitable Incorporated Organisation {ClO), charily number 1152306 statemènt of Compliance The financial stalemenls have been prepared In accordance with Accounting and Reporting by Charities: Statemenl 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. Basis of preparation The Charity meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initialty racognised at historical cosl or transaction value unless otherwise stated in the revant accounting policy nole(s). The financial statèments are prepared in sterling, Nthich is the functlonal currency of tho entty. Monetary amounts In these financial statements have been rounded to the nearest £ Exemptlon from prnparing a cash flow 8tat•ment The chanty is a small charily and has ulilised the small entty exemption from producing a statement of cash flows. Propar4tlon of th• accounts on 4 goln9 ¢on¢•rn ba81• The Trustees have assessed whelher the use ol the going concem assumpiion is appropriate in preparing these financial statemenls. The Trustees have made this assessment in rnsped lo a period of one year from the date of approval of Ihese financial slatements. The Trustees are of the opinion that the Charity will have sufflclent resource$ lo meel it$ liabilities as they fall due. Th8 Charlty reported a cash funds inflow of £50,018 for the year and has undesignated and unrestricted funds of £531,365. Inconio Incom• recognltlon Income is recognised when the Charity has entitlement to the funds, any perfomiance condilions attached lo the item(s) of Income have been met, rt Is probable that the income will be received and the amount can be measured wilh sufficient rèliabiliiy. Grants and donallon• Grants and don8tion8 ar• only included in the Statement of Financial Activities (SOFA) when tho genoral incom• recognition criteria are met. In the case of perfomance related grants, income must only be recognised to the extent Ihat the Chanty has provided the spe¢ifi¢d goods or servi$ as entrtlement to the grant only occurs when the perfonnance related conditions are met. Logacles For legacies. entitlement is taken 83 the earfier of the date on which either. the Charity 1$ aware that probate has been granled, the estate has been finalised and notifi¢alion ha$ been made by the executor(s) lo the Charity that a distribution v4ill be made, or when a dislribulion is recelved Irom tho estate. Receipt of a legacy, in Vtr1e or in part. 1$ only considered probable when the amount can be measured reliably. and the Charity has been notified of Ihe execulorfs intenlion to make a distribution. Imiere legacies have been notified to the Charity or the Charity is aware of the granling of prob8t8, and the criteria for Incomo recognition have not been met, then the legacy is a treated as a contingent asset and disdosed rf materlal. Govomment grants Income from govemment and other grants, whether 'capilal' granls or 'revenue' grants, is recognised vlhen the Charity has entitlement to the funds, any perfomiance condition$ attached lo the grants have been mat, it Is probabte that the income viill be received, and the amount Can be measured reliabty and is not deferred. Tax re¢laims on donations and gifts Gfft Aid receivable is included in income when Ihere is 8 valid dedaralion from the donor. Any Gift Aid amount recovered on a donation is ¢onsideTrd to be part of Ihat gift and is treated as an addition to the same fund as the initial dcfft8tion unless the donor or the temis of the appeal have specified olherwise. 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 eslimate the fair value of the donaled goods for resale on receipt. The proceeds of sale are categorised as'lncom8 from other trading actNities° 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 dlvldends This is induded in the accounts when receipt is probable, and the amount receivable can be measured reliably. 11
COATS Crowthomo Notes to tho Flnancial Statements for the year ended 30 April 2024 ACCOUNTING POLICIES (contlnuad) Income from membership subscriptions Membership subsrJiptions received in the nature of a gift are recognised in Donations and Legacies. Investment galns and1088 This includes any realised or unrealised gains or losses on the sale of investments and any gain or toss r8$ulting from revaluing investments to mathet value at the end of the year. Expenditure recognition Expenditure is accounted for on an accruals basis and has been classified under headings that aggreg0 all costs related to the calegory. Th8 Cost of g8n8rating funds includ83 fund raising cosl$. trading ¢ost$ and inveslment management charges. The cost of charilabla actNities indud8s the payroll costs of th8 COATS Centr8 staff. and day-ttrday running $ts of the COATS Cenlre as shown in Note 10. Govemance costs indud8 costs of the preparation and examination of statutory accounts, the costs of TNstee meetings and cost of ary legal advice to Trustees on govarnanca or constitutional matters. Allocatlon and apportlonment of co8t8 Certain expenditure 1$ directly attributable to specific adivities and has been reported in tho$8 expenditure categories. Tanglble Ilxed assets Depreciation is provided at the following annual rat6s in order to vnite off each asset over 11$ estimated useful lifo. Freehold property 20h on buildings on cost but not providéd on land Freehold improvement$ 10% on ¢o$t Leasehold property Slralghl lino over th8 lile of the leasa Fittings and equipment 20% on reducing balanco Motor vehides 25% on reducing balance Computer equipment 33.3% on cost Assels are as$e$sed on their merits to detemlne N*hether or not they Should be eApltalised. As a general rule, assets under £1,IXIO are nol capilalised. 1.10 Flnanclal Instrument• The Charity only has financlal as$els and financlal liabillties of a kind that qualify as basic financial instrument$. Inv8stm8nls are a fom of b8sic financi81 in$trumant and are initlally rncognlsed at thelr transaciion valuè and subsequentty m6asured at Ihelr fair value as at the balance Sheet dale using ihe Closing quoted market pri¢a. The SOFA includes the net gains and losses arising on revaluation and disposals throughout the year. 1.11 Taxatlon The Charity Is a registered charity and Is exempl under Part 11 of the Corporatlon 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 ordor to daim VAT on Shop expenditure (Sales are zero rated). The Centre continues to enjoy exempt slalus - Irrecoverablo VAT is tharged against the •xpenditure heading for which ft was incurred. 1.12 Op•ratlng l•aMs Rentals payable under operatlng leases are charged agalnst Income on a slraight-line basis over the lease temi. 1.13 Fund accountlng Unrestricted lunds can be used in accordance wilh the charitable objectives al the dis¢relion of the Trustees. Reslrictèd funds Can onty be used lor particular restricted purposes within the objects of the Chanty. Restrictions ariso when specified by tho donor or when funds are raised for particular restricted PUTposes. Further explanation of the nature and purpose of each fund is Included in Noto 20 to the financial statemant$. 1.14 Cash at bank and In hand Cash al bank and cash in hand Includes cash and short tefm highly liquid investments with a maturity of one year from the date of acquisition or opening of the deposit or similar account. 1.15 Credltors Creditors are recognised where the Charity has a psant obligation resulting from a past event that will probabty result in the Iransfer of funds to a Ihird paty and the amount due to settle the obligation can be measured or estimated rèliably. Credltors are nomialky recognised at their settlemént amount afterallowing for any trad8 discounts due. 1.16 Penslon costs and other post-retlrement benefits The Charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Charity. There were no outslanding contributions at the year end. Contributions payable to th8 employees, stakeholder pension schemes are charged to the SOFA in the period to which they relate and are detailed in Note 13. 12
COATS Crowthome Notes to the Flnancial Statements for tho year ended 30 April 2024 DONATIONS AND LEGACIES Unrestrlcted Restrfctad Total Funds Total Funds Funds Fund$ 2024 2023 Donations, gifts. and legacies Grants Membership subscriptions 18.419 18,419 750 450 43.833 750 445 18.869 750 19,619 44,278 A grant of £750 was received In the yèar from Vvokingham Wthout Parish Council. INCOME FROM OTHER TrADING ACTIVITIES- FUNDRAISING Unrestrlcted Total Funds Total Funds Funds 2024 2023 Shop income Income Irom online sales Income from metal recycling Income trom t6xtile reryyding 171,081 9,876 1,564 3.158 171,081 9,876 1.564 3,158 144,376 6,367 2,097 3,497 189,233 189,233 156,337 INVESTMENT INCOME Unrn8trl¢t•d Total Fund8 Total Funds Fund8 2024 2023 Woodmancote House.. rents and charg88 received Dividend on Quilter investment Bank and deposit account interest 50,303 3,783 5,786 50,303 3.783 6,786 48.183 2,134 59.872 59,872 50,317 INCOME FROM CHARITABLE ACTIVITIES UnroBtrfct•d Total Funds Total Funds Fund• 2024 2023 Provislon of The COATS Centre facilitie$ Provlslon of transport fadlities 44,123 5,858 44,123 5,858 35.198 3.952 49,981 49,981 39,148 COST OF RAISING FUNDS Unr•8trl¢t•d Total Funds Total Funds Funds 2024 2023 Note Operation of charliy shop Investment management costs 88,228 12,639 68,226 12.639 24.106 10,535 80,863 80,865 34.641 13
COATS Crowthome Notes to the Financial Statemonts for the year ended 30 April 2024 EXPENDITURE ON OPERATION OF CHARITY SHOP Unrestricted Total Funds Total Funds Funds 2024 2023 Operating leases- land and buildings Telephone Light and heat Repairs and m8intenance Depreciation of leasehold property Other expense$ 22,147 1,052 3,016 23,233 2,250 16,528 22,147 1,052 3.016 23.233 2,250 18.528 16,947 256 1.711 709 4,483 68,226 88,226 24,106 INVESTMENT MANAGEMENT CO8T8 Unr•strl¢t•d Total Fund$ Total Funds Funds 2024 2023 Woodmancote Housé.. Management f888 Woodmancote House.. Water, light and heal. and olher costs Woodman¢ot• House.. Repairs and renff4vals 4,251 6,524 1,864 4251 8,524 1.864 3,803 2.926 12,639 12.639 10,535 ANALY818 OF EXPENDITURE ON CHARITABLE ACTIVITE8 By Fund Unre8trf¢t•d R•8trl¢ted Total Fund• Total Fund$ Fund8 Fund8 2024 2023 Provision of The COATS Centra faciliti88 Provision ol transport facllilie$ 217,533 9,339 2,088 219,621 9,359 196,401 8,225 226,892 2,088 228,980 204.628 y Activity Actlvltle• und•rtak•n dlrecdy support Total Fund• Total Fund$ Cost8 2024 2023 Not• Provision of The COATS Centre fa¢ilitie$ Provision of tran8POrt faciliti88 10.11 205.422 5,699 14199 3,660 222.719 9,359 196,401 8,225 211.121 17.859 228,980 204,626 Included within expenditure above there are governan costs of £2.913 (2023 - £3,893) which relate dlrectly to charilable activities. See Note 11 for further delails. 14
COATS Crowthome Notes to the Financial Statements for the year ended 30 April 2024 10. ANALYSIS OF EXPENDITURE ON ACTMTIES UNDERTAKEN DIRECTLY FOR PROVISION OF THE COATS CENTRE FACILITIES Unrestricte(l Restricted Total Funds Total Funds Funds Funds 2024 2023 Wages and salaries Social security costs Cxher pension costs Training and recruilment Food and supplies Insurance Light. heat. rates and water Postage and stationery Telephone Activitie$ and entertainment Repairs and maintenance Cleaning Health and saf8ty Waste collection Othor expenses 121.378 3,518 5.305 542 26.034 1,610 15,369 121.378 3.518 5,305 542 26,034 1,610 15.369 113,257 3,008 5.118 240 18.130 4,634 14,788 691 231 2,990 7,039 3,515 1,571 2,917 4,838 1.831 7,797 12,372 1,937 3,058 2.315 2,088 3.719 7,797 12,372 1,937 3.058 2.315 203.334 2,088 205.422 182,967 11. SUPPORT COSTS By Fund Unrn8trlct•d Total Fund• Total Funds Fund• 2024 2023 Support Costs Olher18gal and professional fees Depfacialion of tangible red assets 4,018 10.928 4,018 10,928 2,815 11.562 14.948 14.946 14.377 Govemancp Costs Accnunlancy support Independenl examlnerfs fee 1,853 1,060 1,853 1,060 2,640 2,913 2,913 3,700 17.859 17.859 18,077 12. NET INCOME FOR THE YEAR Thls Is statod after charging.. 2024 2023 Other pension costs Depreciation Independent examinerfs remuneration.. Independent examinefs fee Accountancy services Operating lease Costs - land and buildings 5.305 13,178 5.118 11.562 1.060 1,853 22,147 2,640 16,947 15
COATS Crowthome Notes to the Flnanclal Statements for the year ended 30 April 2024 13. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES. AND THE COST OF KEY MANAGEMENT PERSONNEL Total staff costs were as follows 2024 2023 Wages and salarie$ Social security cosls other pension costs 121.378 3,518 5,305 113,257 3,008 5,118 130,201 121,383 Partlcular8 of •mployw•: The average number of employees during the year was as follows.. 2024 2023 Day Centre facilitles: The COATS Centre No employees recefved employee banefrt$ in excèss of £60,000 (2023.. nll) with all employee time involved in the provision of charitable acliviti8S. Since 1 April 2016, the Charity has been paying contributions to The Pèoplè's Pension in ordèr lo comply with the Govemment's aulo•enrolment legislalion. It makes the same cor)tributlon of up lo 5Vo ofthe employee's basic salary, provided this is matched by the employee. Seven employees participated in the staff pension arrangements. RELATED PARTY TRANSACTIONS There warn no r•lated party transactions in the current or prevlous year. Th8 Tnjstees all give freoty their time and expertise without any fomi of remuneration or other benefit In cash or kind (2023: £nil). Expenses paid to the Tru$lee$ in the year totalled £Nil (2023: £NII). No Trustee received payment for professional or other services supplied to the Charity (2023.. £nil). 10. GIFT AID No Gift Aid was receivod under the Glft Aid scheme durlng thé year (2023: £1.796), the amount receivgd 1$ Included In Donatlons, Glfts, and Legaclos. 16. TANGIBLE FIXED ASSETS Fr••hold Fmhd L••Mhold FlttlTrq• •nd Pmp•rty Improv•m•nts Propty Equlpm•nt Motor V•hlol Eqylpm•nt Tol•l C08T A• at 1 M•y 3)fJ Addllon• 285.425 88.$98 76,135 8.7T4 81.118 3.213 474.487 53,774 A• *tJO A1 2024 2eJ.42 3,213 474.487 628.211 DEPRECIATION 124,049 65,7rJ 1.¥28 46,8C8 3,213 3C6,192 13.178 Charg0 for th• yoor A• at JO Aprll 2024 129,389 2,260 67.ISI 60.2B• 3.213 321.370 NET BOOK VALUE A8 at 1 May 3JfJ 141.376 10.412 14.507 116 166.295 A• •t30 Ayll 2024 138.038 42.750 17.21J8 10147 3081 16
COATS Crowthome Notes to the Finan¢ial Statements for the year ended 30 April 2024 17. FIXED ASSET INVESTMENTS Movement in fixed asset listedinvestments 2024 2023 Carrying (fair) value at beginning of period Deduct: Value of investments sold during Ihe Perij Add.. Additions during the period Add: N8t unrealised gain l (loss) on revaluation 186,035 187,796 3,784 19,137 (1,761) Carrylng (falr) value at •nd ol ar 208.958 186,035 Investmants at fair valu8 comwisad Llsted Inv8stmen18 208,956 186,035 All invéslments are carried at their fair value. Holdings In Common Investment funds are al the bld prico. Assel sales and purchases are recognised at the date of trade at cost (that is their transaction value). The main risk lo the Charity from flnancial Instrumonts lios in the combination of uncertain investment markets and volatility in yield. DEBTOR8 2024 2023 Other debtors and prepayments 8,049 452 8,032 452 19. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR 2024 2023 Trade creditors Accruals Other Creditors 1,047 14,129 13.226 328 18,053 15,176 20. ANALYSIS OF MOVEMENT IN FUNDS 8alanca Incomlng Resources 1 May 2023 rnsourc•s expended Galns and losses Funds 30 Aprfl 2024 Transfers Unrn8trfcted funds General fund 332,295 314,401 (307.757) 19,137 558.076 532,295 314,401 (307,757) 19.137 558,076 Restricted funds Grants received 2,088 750 (2,088) 750 TOTAL FUNDS 534.383 315.151 (309,845) 19.137 558,826 Unrestricted funds are available lo be spent for any of the purposes of the Charity. 17
COATS Crowthome Notes to tho Flnancial Statements for the year ended 30 April 2024 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. 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible flxed assets Net current assets Total 2023 Investments Unrestricted funds Restricted funds 208,891 208,956 142,229 750 558,076 750 Total funds at 30 Aprtl 2024 206.891 208.956 142,979 558,826 22. ANALY818 OF CASH AND CASH EQUIVALENTS 2024 2023 Cash at bank and in hand Short terTn deposll$ with a maturlty date wilhln one year 152.983 194.689 152,983 194.689 23. OBLIGATION8 UNDER LEASES The Charity leases the Shop from which il trades. During the year a new lease was taken out on the 8hop premises adjoining the existing shop premises. A renewal lease was taken out to lollow on from Ihe exisling lease and a separate leas6 negolialed on the nèw prami888. 80th leases are now on a Iyear basis. Land and bulldings 2024 2023 Amounts du•: Wthin one year Wthln one year to fiv• y•ars thin six to ten years 27,347 109,387 118.502 16,947 12,708 255,236 29.655 Operatlng lease agreenionts whfjre the Charfty Is l••sor The Charity owns Woodmancote House which has 5 rooms in 3 flals Ihal are let to third parties. Th8 assured short temi tenancy agreements are on twebve-month tem$. thereafter with monthly roll overs, with provisions for annual rent reviews. Future minimum rental$ receivable under th8 tenancy agreements are as follm: Land and bulldings 2024 2023 Amounts du•: Within one year 48,156 39,180 18
COATS Crowthornè Detalled Statement of Financial Activitles for the year endod 30 Apr612024 2023 2022 INCOME t>onatlons and Legacie• Gifts. donations and legacies Grants Mernbership subriptIOnS 18.419 750 450 43.833 445 19,619 44,278 Income from other tradlng aGtSvltl•8 Shop income 185,679 156,337 185.679 158,337 Investmont Income Woodmancote House". rents and charges receiv6d Dividends received from Quilter investment Bank and deposit account Interest 50.303 3,783 5.786 48,183 2,134 59,872 50,317 In¢om• from charftable actlvltlw4 The COATS Centre.. Alt8ndance and lunches The COATS Centre Bus.. Transport 44,123 5,858 35,198 3,952 49,981 39,148 TOTAL INCOME 315.151 290.080 This page does not fomi part of the statutory financial statements 19
COAV8 Crowthome Detalled Statement of Financial Aetivitles forthe year ended 30 April 2024 2024 2023 EXPENDITURE C08ts ol ralslng fund Fundraising expens Operntlon of Charlty Shop Operating lea$e$ - land and buildings Telephone Lh1 and heat Repairs and maintenance D8preciation of leasehold property Other expenses 22.147 1.052 3.016 23,233 2,250 16,528 16,947 1,711 709 4,483 68,226 24,108 Investmont management ¢osts Woodmancote House.. Management fees Woodmancote House.. Water. light and heat, and other costs Woodman¢ote House: Repairs and renewals 4,251 6,324 1,864 3.806 3.803 2.926 12.639 10.535 Ch•tit•bl• acolvftl Wages and salarles Social security costs Olher pgnsion ¢osls Training and recruilment The COATS Centre.. Food and Supplies The COATS Centre.. Insurance Tho COATS Centre: Light, heat, Rates and water The COATS Centre: Postage and stationery The COATS Céntre.. Telephone The COATS C6ntre: Activities and entertainment The COATS Cenlre.. Repairs and maintenance The COATS Cenlre.. Cleaning The COATS Centre.. Health and Safety The COATS Cenlre.. Wasle collection The COATS Centre.. Other expenses The COATS Centre.. Olher legal and professional fe6$ The COATS Centre Bus: Op8ratlng expenses Accountancy support Independenl examinerf$ fee Deprociati¢>n of tanglble red assets 121,378 3,518 5.305 542 26,034 1,610 15,389 113,257 3,008 5,118 240 18,130 4,634 14.788 691 231 2,990 7,039 3,515 1,571 2,917 4,838 3,008 3,389 2,640 1,0 11.562 3.719 7.797 12,372 1,937 3,058 2,315 4,018 6,532 1,853 1,080 10,928 228,980 204,626 TOTAL EXPENDITURE 309.845 204,626 NET GAINS (LOSSES) ON INVESTMENTS 19,137 (1,761) NET INCOME 24.443 49.052 This page does not fom part of the statutory financial statements 20