Charity reglstratlon number 1158133
Company wistration number 08425370 (England and Walesl
CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Paul Jackson
Martin Page
rimothy Rogers
Elinor Lamnd
Amanda Richardson
Lisa Wisdom
Angela Annesley
Amy Cooper
Charity number
1158133
Compony numb•r
08425370
Prlnelpal addr•s$
Trelissick Gallery
Trelissick
Feock
TRVRO
Cornwall
TR3 6QL
R•glst•r•d offlc•
Trelissick Gallery
Trelissick
Feock
TRURO
Cornwall
TR3 6QL
Ind•p•ndent •xamlner
Josh SlevensACA
RRL LLP
Peal House
Newham Road
Twro
Comwall
TR1 2DP
Bank*w¥
B8rdays Bank PIC (Truro Kiny Slwll
14 King st￿et
TRURO
Cornwall
TRI 2RB

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
CONTENTS
Page
Trustees. report
Statement of trustees, respon5ibililies
Indeptrnd&nl examin&f$ ￿pOrt
Statement ol finanaal activities
Balance sheet
Notes to the financial statements
9-18

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial ststements have been prepared in accordance vAth the 8ccounb.ng poliryes sel out in note 1 to the
financial statement5 and eompty with the tharrty's Memoranduffl and A￿rjeS of Associab"on, the Companies Act
2006 and Accounting and Reporting by Charities". Ststement of Recommended Piactice applicable to charities
preparing their accounts in accordance wrth the Finanaal Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021..
Objectives and activities
The objectives are to promote any charitable purpose which wll èncourage the exerase and malntaln the standards
ol crafts both ancient and modern. preserve and improve craftsmanship and promote and increase the interest of
the public herein particularty in Ihe county ol Comwall.
Achlevements and ￿rforManCe
Chalmian'8 report
The Cornwall Crafts Association ends 2022 enjoying the space and polential of rts enlarged gallery. Sometimes the
upper gallery 3hows the special exhibition5. 50melimes the galleries are inlermrAed. We 811 agrètr that il has
b8èn a wondsrful extension and addrtion to the AsSociat￿n'S èxhibrtion space.
The charfty has malntalned a full exhibthn programme starting wrth partaking In Fonn Falmouth at Falmouth
Pavilions. The show was organised by the charity's members laking part bul overseen by trustee and member. Amy
Cooper. We are pleased to say that Ihe stand looked fabulous. Sales were good enough Ihat we were able say we
broke even. This was 8 great effort and has now eslabli5hed a new event in our calendar. as we are tsking part
again this year, however this tim& Elinor is organi*'ng il.
Running up to Christmas we had our Christmas Tree Decoration Competition. This brings in a delighfful collection of
imaginative tree treasures. This time il was won by the jeweller Sandra Ausbn for her stunning sil*r Turtle Dove.
Sandra won a free membership to the chanty for a year. Our thanks to all that took part.
The charity also ran two Christma5 workshop5. They were h05ted by Louis Nicho15 who laught some of
her tèchniques in textilès. The first workshop concenlrated on lino print$ lor fabri¢, th& second was on embèlli$hing
the printed piec6 wth stitch and appliqué. We were very plèasèd that th￿ wef• so wall attèndèd. Thara will be 2
mor6 this year so please look out for them to be advertjsed.
The new year was soon underway wth Ihe triumphanl celebrations of out 50 years. This is Iruty a rnileslone. We are
one of Ihe longest running craft groups in Ihe counlry. A speual exhibition Gold was planned. We are grateful lo Tirn
Roger3 for doing an inspirational lalk al the AGM and 898in at the ￿nter Warm up meeling last January.
Gold was supported by most of the membèrship and again the work was very speaal, and rt was fascinating to see
how the brief was Interpreted and fulfilled. In the foyer, photogiaphs and memorabilia were enlarged and hung. A
video ran showing makers at work. Congratulations to Elinor and ihe leam for putting on such a fabulous show.
The Cornwall Crafts AssOcia￿.0n continues with its small exhibition programme. 'Focuses in the Foyer., The dazzling
glass display by Helen Eastham took us up to Christmas 2022. To open our Spring Exhibition in January 2023 we
were delighted to focus on new tnembei and superb woodtumèr Graham Davey which took us up to the opening of
Gold, when we were delighted to show a vnnderful selection of the extraordinary and uniquè work by ceramiast
Linda Styles.

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
We were sad to hear of the passing of Denise Harvey. Denise had been one of our long-standing members of the
sales team at Trelissick Gallery. up until 2020 Denise had helped and supported the charity for over thity-five years.
She brought her own Style to the job. and She wa5 akyays 8 delryht a very distinct sense of humourl
The charty wishes to Ihank the sales team for t*ing ouf repcesentatNes every day and we especial￿ thank Elinor
lor her ceaseless, untiring dedication as curator. as well as all her many olher chores,. to Tim for his constant
support and for standing in as Vice Chaimian,. and lo all the Trustees lor their knowledge, strength, and continued
support in all things Comwall Crafts Associalion. Lastty. we thank RRL LLP for the financjal expert15e and look
fon￿ard to working wrth them in the fulure.
Flnan¢lal revlew
The Association's largest item of expenditure is wages which totalled £66.854 12021.. £60.8671. Cornmi5sion
receivable totslled £89.030 12021.. £75.9931. The Association rnade a defiryt Ihis year of £8.106 12021.. deficit of
£4.0901.
The Associatlon's resourc•$ are partty investsd In th8 COIF Chartt￿$ Investsnent Fund and the ba1￿ce 1$ on
deposbt at Barclays.
Re8orve8 poIScy
The trustees aim lo ensure the ¢J)ariVs long temi viabilty 8ftd aim for al least six months reseNes lo be held. This
policy will be reviewed on an annu81 basis. Unreslrid¥d ftJnd$ 8131 De¢&mbtrr 2022 totall&d £58,949, which
Included free reserves 01 £3,949.
Inv•8tm•nt pollcy
The trustees regularty review the cash held by the tharity and plarE any surplus fund6 in an interest bearing deposit
account when appropriate.
Publ1¢ b*n¢flt
The chanty complies with the public benefit requirement through its charitable obiedives.
The trustees confirm Ihat they have ￿ferred lo the guidance contained in the Charity Commission's general
guidance on public benefrt when reviewing the charity's aims and objectives and in planning futu￿ activities. In
particular, the irustees consider how planned aclivilies S￿11 contribute lo Ihe aims and objectives sel.
Rl#k manag•m•nt
The trustees have assessed the major risks to which the charity is exposed and a￿ satisfied that they are operating
systems which mitigate (he charity's exposure.
Tax 8tatu$
8eing a ￿gistered charity, Comwall Crafts ASs￿latIon is exempt from corporatK)n tax on Its investments and other
income.

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Plans for future periods
We will be taking a stand at Fomi Falmouth. to open on the 29th September 2023 and will njn for that weekend.
OurAutuMnl￿ntef Exhibition 2023 opens on Saturday 14th October wrth a Private View. We are thrilled to say that
included in this exhibition is a Focus on Sarah Dunslan's distinct and un￿ue ceramics. Sarah's Focus will run until
22nd of November when we will be having a Christmas gtft focus, 'Santa's Delights,.
At the beginning of December. we will be holding Christmas workshops. the first with Weaver and textile artist
Debbie Rudolph. The second wrth Jeweller and textile printer Rachel Stowe.
Our Christmas tree decoration competrtion will also be in fvll swing by the beginning of Decernber. where the winner
wins full membership for 8 year. Enlranls are 811 selected Cornwall Craft As$w8tion members. The theme being 'A
Comish Christmas.
Our Spring Exhibition Craftsmanship 2024 op&n$ at the end ol January, thi$ o￿nIng 1$ akvays ¢ombined wth our
Winter Wami Up Meeting where we get togelher wrth Ihe Membership for an inspirational lecture for the year ahead.
pasties. and other refreshments.
2024 will also indude a program of six Focuses. yet lo be decided.
Our feature Summer Exhibition 2024 will open after Easter. wth Ihe Iherne'Above and Below,.
structure. gov?rn#nce and mon¥g?ment
Govemlng document
The charty is incorporated as 8 cofflpany limited by guaranlee under the provisKJns of the Cornpanies Act 2006. Its
governing constitutional docurnents are ils Memorandum and ArtKle8 of Assoriatson which a￿ publicty available
from th¢ Registrar ol Companies via 11$ web$it$.
Members of the chadtable company guarantae to contrlbuie an amount not exceeding £1 to the assets of the
company in the event of a wnding up.
The Iruslees. who are also the direclors for the purpose of cofflpany law. and who Served during the year We￿..
Paul Jackson
Martin Page
rimothy Rogers
Elinor L8mond
Amanda Richardson
Lisa Wisdom
Angela Annesley
Amy Cooper
Suitable individuals are identified by the existing tnjstees on the basis of their skills and kno￿edge and are invited
to become trustees. New ¢ruslees are inducted into the workings ol the charity.
The Iruslees 8re responsible for the over811 control of the tharity.
R•latèd party transaetlons
Some members ol the previous and current managing committees who are also craftsmen sold items using the
Association and details of these are reported in note 8 of the financial statements.

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Remuneration policy for key management
The trustees consider the trustees lincluding Elinor Lamond} lo comprise Ihe key management personnel of the
charity, to be in charge of direding and controling, wnniny and operating the tharity on a day to day basis.
The pay of the senior staff is reviewed annualty and nom)alty increased in accordance wth average earnings. In
view ol the nature of the charity. the trustees benchmark against pay levels in other similar organisations.
ststement ol dlsclosure to independent •xaminer
So far that the trustees ar• aware, Ihere * no relevant infmb.on of Wh￿ the charlvs Independent examlner 1$
unaware.
Additionalty the trustees have taken all the sleps that they ought to have taken as trustees in order to make
thernselves aware of any relevant Info￿al￿ and to establish that the charity's independent examinw is aware of
that inforrnalion.
Thls report has be¥n prepared in ¥¢¢ordonce with the swaal provision of Part 15 01 Ihe Companies A¢¢ 2006
relating to Small Companies.
The trusteés, roport was approvéd by thè Board of Tru$leès.
Elinor Lamond
Tru•t••
27 September 2023

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees, who are also the directors of Comwall Crafts Asswation (Limited by Guarantee) for the purpose of
company law. are responsible lor preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdorn Accounbng St8nd8rds (United Kingdorn Gener8lly Accepted Accounting
Pract￿1.
Company Law requires the trustees to prepare ffinancial slalements lor each financial year which give a true and fair
view of the state ol affairs of the charity and of Ihe incoming resources and application of resources, including the
incorne and expelldrtu￿, of the charitable company for Ihat year.
In preparin9 these fin8nci81 $18lemenls, the trustees 8re required to:
select suitable accounting policies and Ihen appty them consistenty..
- observe the methods and principles in the Charities SORP..
- rn8ke judgements and estsmates that art reasonable and prudenl.,
slate whether applicable UK A¢¢ounting Stsndafd$ have been followed, $ubj*¢t lo any materi81 d¢p8rtur¥$
disclosed and explained in the financial statements.. and
prepare the financial stalements on Ihe going concem basis unless r( is inappropriate to presu￿￿ that the charty
11 continue in operats'on.
The Iruslees are re$pon$ibl$ for keeping adequate a¢¢ounting r*￿1￿$ that di$¢lt)se with reasonable a¢¢ura¢y al
any timè the financial position of thè charity an¢J enabl• them to ensure that the finan¢ial statements ¢ompty with the
Companies Act 2006. They are also responsible fof safeguafding the assets of the chanty and hence for taking
reasonable steps for the prevention and deteciion ol fraud and other irregukints"es.

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CORNWALL CRAFTS ASSOCIATION (LIMITED BY
GUARANTEE
I report tts the trustèe5 on my examinats.on of the financial ststeN*nts of Comwal Crafts Association (Limited by
Guarantee) (the charityl for the year ended 31 December 2022.
Responslbllltles and basls ol report
As the trustees of the charity land also its directo￿ for the purp¢)ses of company 18wI you are responsible foi the
preparation of the ffinanual statements in accordance wrth the requicements of the Companies Act 20C6 (the 2006
Acti.
Having satisfied rnyseif that the financial statemenls of the charity are nol required to be audited under Part 16 of
the 2006 Act and are eligible for independent examinabon. I report in respect of my examination ol the charity's
financial statements carried out under section 145 of the Chanties Act 2011 Ithe 2011 Act). In carrying out my
8x8minalion I have lollowed all the applicable DirertK)n$ given by lh& Charity Commi$$ion under $eetion 14515llbl
of th¥ 2011 A¢1.
I draw to your artenlion that the fimi al which l am partner provides bookkeeping Se￿iCe$ to the charity. We have
complied with FRC'S Revised Elhical Standard in this regard.
Independont examlner'ty sta¢oment
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe thal in any material ￿Spect..
8c¢ounting re￿rdS were nol kept in resped of th¥ ¢haiity as wuired by se¢lion 386 ofthe 20Cfj A¢t,' or
the financial 5tstements do not accord with those records.. or
the financial statemènts do not comply wilh the a¢¢ounting requirements of section 396 01 the 2006 Act 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., or
the financial $lal&menls have nol been prepared in ac¢ordan¢e wtth Ihe methods and principles of the
Statement of Recommended Practice for accounling an¢J reporting by charrties applicable to charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK
Republic of Ireland IFRS 1021.
I have no concerns and have come a¢ross no other malters in connection wth Ihe examination to which attention
should be drawn in this report in order lo enable a proper underslanding of the financial 5t8tements lo be reached.
Josh Stevens ACA
RRL LLP
Peat House
Newham Road
Truro
Comwall
TR12DP
Dated.. 28 September 2023

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrèstrfttèd Unrèstrlctèd
funds
funds
2022
2021
Note¥
Donations and legaci8s
Charitable activities
Investments
937
96,194
640
7,099
82,246
Totsl Ineomè
97,771
89,354
Ch81itable activities
105,855
93,480
Nel1108sesllgains on investments
11
1221
36
Net movem•nt In funds
18,1C61
14,0901
Fund balances at 1 January 2022
67,055
71,145
Fund b•l•n¢¢8 Ot 31 D•c*m￿r 2022
58,949
67,055
The slalemenl of financial activities indudes all gains and losses recognised in the year.
l income and expenditure derive from continuing 8¢1ivib'*s.
The statemgnt ol finaneial actiwties also wnpliès with tho requiremènts for an income and expenditure a¢¢ount
under the CompaniesAci 20&8.

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Notès
Flxed assets
T8ngible assets
Investments
12
13
3.030
220
3.787
242
3.250
4.029
Curr•nt ass•ts
Debtors
Cash at bank and in hand
15
2.948
79.329
3.424
83.459
82.277
88.883
Cr•dltors'. amounts lalllng du• vAthln
on• y•ar
16
126,5781
123,8571
Net current assels
55,699
63,026
Total a88et8 le88 current IlabllStl•s
58.949
67,OSS
Incom• fund8
Designated funds
Gèneral unrestricted fund$
18
55.000
3.949
65.000
2,055
58,949
67,055
58,949
67,055
The company is entitled to the exemption from the audit reqU1￿ment contained in seth.on 477 ofthe Companies Act
2006, for the year ended 31 December 2022.
The directors acknowledge their responsibililies for comptying with the requirements of the Cornpanies Act 2006
with respect to accounting records and Ihe preparation ol finanryal statements.
The mernber8 h8ve not requireij the company lo cljtsin an audit of its fina￿￿81 stslements for the ye8r in question in
8ccordance with section 476.
These finanaal statements have been prepared in accordance the speoal provisions of Part 15 of the
Companies Act relating to small companies and constibjte the annual accounts reqUI￿d by Companies Act 2006
and are for arculation to members of Ihe company.
The financial statements were approved by the Trustees on 27 Seplember 2023
Elinoi Lamond
Trustee
Company registration number 08425370

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policies
Charity inforrnation
Comwall Crafts Association ILimrted by Guaranteel is a private company limrted by guarantee incorporated in
England and Wales. The registered office is T￿lissick Gallery. T￿li$S￿k. Feoth. TRURO, Cornwall, TR3 6QL.
1.1 Accounting convention
These financial statements have been prepared in accordance wtth FRS 102 -The Financial Reporting
Standard applicable in the UK and Republic of Ireland" I"FRS 102.1. "Accounting and Reporting by Charities"
the Staternenl of Recommended Practice for chanties apptying FRS 102. the Companies Act 2006 and UK
Generally Accepted Accounbng Practice a5 it applies from 1 J8nu8ry 2019. The charity is a Public Benefit
Enlrty as defined by FRS 102.
The financial statemènts are prepared in sterting, which is the funth.onal ¢u(r¢nty of th& ¢harty. Monetary
amounts in these financial statements are rounded lo the nearest £.
The financial statements have been p￿Pared under the histoiical cost convention. The principal accounting
policies adopted are set out below.
1.2 Golng ¢on¢¥m
At the time ol approving the financial statemenls, the trustees have a reasonable expectation that the charity
has adequate resources to conlinue in operational existence for Ihe fO￿Seeable future. Thus the trustee5'
¢ODtinue to adopt the going concem basis of accounling in preparing the finanrial staternents.
1.3 Charttable funds
Unrèstricted funds are donations and olh&r incoming resour¢¢$ r￿N￿d or 9eneraled lor g¥n8ral ¢hgrhablo
purpose$.
Designated ftjnds are unoslricted lund$ of charity which Ihe tru$lee$ have de¢ided 81 their di$¢relitsn lo
$8t 8sid• to usè for a $p8ufic purpose.
Restricted funds are to be used for speofic pvrp05es as laid down by the donor. Expenditure whi¢h meets
the criteria is identified lo Ihg fvnd. loge¢her with a 1811 811o¢ation of overheads and support costs.
1A Incomlng resources
Income is recognised when the charity is kgalty entitted to it after any perforniance conditions have been met,
the amounts can be measured reliabty, and it is probable thal income wll be received.
Commission ￿p￿sents income eamed from sales of work and is brought into credit on an arislng basls.
Annual Subs{￿ptIOnS from mèmbers indut1ed in the year that they are recei¥ed.
Incorne from donabons and grants is induded in Incr)￿ when receivable. except as follows..
When donors specfy Ihat donalions and grants given to the charity must be used in future
accounting periods, the income is deferred unlil those periods.
Vvhen donors impose condrtions which have to be fulfilled before the charty becomes entitled to Use
such income, the inGorne is deferred and not induded in incoming resources until the pre-condition5
have been rnet.
Vhen dtsnors specfy that donab.ons and grants ale for particular restricted purposes, which do not
amount to pre-condibons regar¢Jing ents"Uemenl, this income is induded in incoming resources of
restricted fijnds when receivable.
l income arising on investrnents is accounted for on a receNable basis.

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
A¢coun¢ing policies
(Continuedl
1.5 Resources expended
Expenditure is recognised once there is legal or wnstwdive obligation to make a payment to a third party. it
is probabl8 that settlement will be required and the atnount of the obligation can be tneasured ieliaily.
Expenditure is dassified under the following activty headings".
Expenditure on charitable aclNth"es includes the costs of crafts people and exhibitions and other costs
undertaken to further the purposes ofthe chanty and their assoaated support costs.
Governancè costs represent the cost of accountancy fees and legal and professional costs.
1.6 Tanglblg Ilx¥d ¥s¥et8
Tangible fixed assets are Initial￿ measured at cost and subsequenty measured at cost or valuation, net ol
depreciation and any impairment losses.
Depreclat5on Is recognised so as to wrtte off the cost or valuation of assets less Iheir resldual values over their
useful lives on the following bases..
General Equlpmenl
20% reducing balance
The 98in or loss arising on Ihts disposal of an asset is determined 8$ the tJifferen¢e beiween Ihtr sale
proceeds and the Carrying value ol the asset, 8n¢J 1$ ￿COgnised in n¥¢ incom&llexpen4iturel for the year.
1.7 Imp•lm¥nt of Ilx&d 488¢ts
At each reporting end date. the charity ￿vIewS the carrying arTh)unts of its tangible asseis lo detemine
whether there is any indicabon that those assels have suffered an impaimenl loss. 11 any such Ind￿ation
exists, the recoverable amounl of Ihe asset is eslimated in order lo determine the extent of the impairment
loss lif 8nyl.
1.8 Cash and cash equlvalents
Cash at bank and in hand includes cash and short tem highty liquid investments wrth a short maturity of thrée
months or less from the date of acquisrtion or opening of the deposrt or similar account.
1.9 Flnanclal Instruments
The charity has elected to appty Ihè provisions of Section 11 '88sic Financial Instruments, and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of rts finanaal instruments.
Financial instruments are ￿COgnised in the charity's balance sheet when the charity becomes party to (he
contractual pr￿lS1On5 of the instrument.
Fin8n¢ial 8$5et5 and liabilities are offset. with the net amounts presented in the financial st8ternents, when
there is a legally enforceable right lo sel off the recognised amounts and there is an intention to setue on a
net basis or to realise the asset and setlle the liabilty simultaneousty.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price Induding transath.on costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a finanung transaction, Whe￿ the transaction is
measured al the present value ol the luture receipts discounted at a market rate of interest. Financial assets
classified as receivable wrthin one year are not amortised.
10-

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
A¢coun¢ing policies
(Continuedl
Baslc flnanclal Ilabllltl•s
B8sic financial li8bilities. including rJeditors and bank loans ale initialty iecognised at transaction prioe unles5
the airangetnent constitute5 a financing transaction, where the debt instrument is measured at the prEsent
value ol the future payments discounted at a market rate of interest. Finanual liabilrties classified as payable
wbthin one year are not amortised.
Debt instruments are sub5equentty carried at amortised c4JsI. using the effective Inte￿$t rate method.
Trade creditors are obli9alions to pay for good$ or 5ewvi¢£s that have been acquired in the oidinary coursè of
operations from suppliers. Amounts payable arè cjassified as cunent liat>ilth"es if payment is due within one
year or less. 11 not, they are presented as non-currenl liabilrties. Tfade credrtors are recognised Initially at
tranSact￿Th price and subsequentty measured at amortised cost using the effective interest method.
Dfrrncognition ol financifil liabilities
Flnancial Iiabililies are dere¢ognised when the ¢harity'$ ¢onlrathal obligatlons explr& or are 4l$¢hgrge¢ or
cancelled.
1.10 Taxatlon
Th¥ Charity is exèmpt from tsx on incom¢ and gains fallin9 Wlthin $¢¢tion 505 01 the Taxes Act 1988 or
Section 252 of the Taxation ol Chargeable Gains Act 1992 to the extent that these are applied to its charrtable
objects.
1.11 Efflployee benefit•
The cost of any unused hol￿aY entillement is recognised in the period in which the empk)yee's services are
received.
Terrnination benefits are recognised immediatety 8s an expense vthen the charity is demonstrably committed
lo terminate the employment of an employee or lo provide terminalion beneffts.
1.12 R•tlr•mént ￿n•fit*
Paymenls to defined c￿ntribut￿n retiremenl benefft schemes are charged as an expense as they fall due.
1.13 Ca¥h flow Jtstemenl
Under Charrties SORP IFRS1021 the Charity is dassed as a Smal Charity and is not required to prepare
cash flow slalernenl.
1.14 Investments and Investment In¢orne
All investments are stated at market value. The movement shown in the statement of finandal activitles
comprises both realised and unrealised gains and losses.
Cdtl¢al accounung ￿tIrnates and judgements
In the application of the ¢h8rrty's accouTTting policie5. the trustees are required to make judgement5. estim8tes
and assumptions about the carrying amount of assets and liabilities that are not ieadity apparent trom othei
sources. The estimates and assooated assumpb.ons are based on historical experience and other factors that
are considered (o be relevant. Actual resuKs may differ from these estimales.
The estimates and undertying assumptions are reviewed on an ongo￿9 ba515. Revision5 to accounting
e5timate5 ale iecognised in the period in which the estimate is ievised where the revision affects that
period, or in the period of the revision and future periods where the ievi5ion affects both current and future
periods.
11

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Donations and legacies
Unrestricted Unreslricled
funds
fijnds
2022
2021
Donations and gifts
Government Grants
937
7,099
937
7,099
HMRC grants had been re¢ei¥ed lolalling £7,099 in 2021 to help wilh the ftjrftsughed staff whil$l In a
nalionwidtr lockdown due to COVID-19.
Charltabh aetlvltl•8
2022
2021
Commissions
Subs¢riplions
Other income
89.030
6,846
318
75,993
6,131
122
96.194
82.246
Investments
Unrestrlcted Unrestricted
fund•
funds
2022
2021
Interest receivabl6
640
12-

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Charitable activities
2022
2021
Stsff costs
Rent and occupancy
Light and heal
Advertising
Repairs and renewals
Bank and credit card ch8Tges
Exhibition and display lees and costs
Cost ol goods $oltJ
66,854
13.457
102
1.735
60,867
10,042
1.779
3.602
2.025
2,183
2.742
2,730
89,958
79,126
Share ol support eosls188e nole 71
Share ol governance cost5 (see note 71
13,592
2.305
12,504
1,850
105.855
93,480
13-

J o o rL*
g) Nirj
O p 10 rv Irj
q)£ a¥ c È r)
U) u

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
One of the trustees received rernuneralion {induding ernpk)yers' nation81 insurance and pension
eontributionsl of £29,155 12021." £26,363) foi her services provided to the charrty as gallery manager and
administrator. Pemiission was granted by the Charrty CoMmiss￿Th to remunerate this trustee.
No trustees We￿ ￿1mbur9ed expenses during the year12021.' £Nill.
Commissions were taken from and payments were made to the following trustees during the year as follows..
Commission Paymènt made
received from
Payments
Outstanding
Paul Jackson
Amanda Richardson
Amy Cooper
Elinor Lamond
Angela Anne8ley
Lisa Wisdom
Martin Page
Tirn Rogers
183
1.499
877
3,783
369
3,519
381
381
3,570
1.828
8,199
769
8,111
793
120
62
58
19S
1.273
146
21
Employ¢•$
Tho overa9e monthty number of &mploy88$ during th8 year was..
2022
Numbor
2021
Numb8r
Gallery costs
Support costs
Total
Employm•nt eo8t8
2022
2021
W8ge3 8nd $818rie
Other pension costs
65.765
1,089
60.169
698
66,854
60.867
There were no employees whose annual remuneTation was more than £60.IJ)O.
15-

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
10 Net movement in funds
2022
2021
Net movement in funds is ststed after chargingllueditingl
Independent examination fees
Depreciation of owned tangible fixed assets
1,750
757
1.600
947
11 Net galnslllossesl on Investment•
Unrestrlcted Unrestricted
funds
fijnds
2022
2021
Revaluation of Investments
1221
36
12 T4n9lbl* nx*d •$$¢t•
G•n•rnl Equlpm•nt
C￿t
At 1 January 2022
47,901
At 31 December 2022
47,901
Oepreclatlon and Impalrm•nt
At 1 January 2022
DeprecAabon charged in the year
44,114
757
Al 31 De¢ember 2022
44,871
Carrylng amount
At 31 December 2022
3.030
At 31 December 2021
3.787
16-

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
13 Fixed asset investments
Llsted
Investments
Cost or valuation
At 1 January 2022
Valuation changes
242
1221
Al 31 De¢ember 2022
220
Carrylng amount
At 31 December 2022
220
At 31 December 2021
242
14 Flnan¢141 In8trument¥
2022
2021
Carrylng omount of Iln#n¢l¥l o$sets
Instrumen15 rneasu￿d at lair value through profit or loss
220
242
15 Debtors
2022
2021
Amounts f•lllng du• wbthln on• y•or=
Prepayments and a¢cru8d incom&
3,424
16 Cr•dltor•'. 4mounts l•lllng du¢ w5th1n on¢ y••r
2022
2021
Not••
Other taxation and social security
Deferred income
Trade creditors
A¢cruals
5,299
2.333
13,303
5,643
4,489
17
12,457
6,911
26,578
23,857
17 Dèfèrrèd intomè
2022
2021
Arising from subscription income receive(l in
advance
2,333
17-

CORNWALL CRAFTS ASSOCIATION (LIMITED BY GUARANTEE)
',RRL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
17 Defgrred incorn?
(Continuedl
Deferred income is induded in the finanaal statements as follows-.
2022
2021
Deferred income 15 induded within..
Current liabilities
2.333
Movements in the year..
Deferred income at 1 January 2022
Resources deferred in the year
2.333
Deferred income at 31 December 2022
2.333
18 D•8lgnatèd funds
The income funds of the charty indude the followng deS￿nated funds which have been set aside out of
unrestricted funds by the trustees for sperAfic pU￿Ses.
Movement
In fund¥
lth¢omlng
￿￿Ure￿1 January 2022
Tran8f•rn
1 J*hu*ry 2021
31 D￿•M￿r
2022
Conts'ngency
Future Projects Fund
{s.0001
45.000
20.000
110,0001
3S,000
20,000
20,0
70,oryJ
{5,0001
65.000
110,0001
55,000
The ¢ontinen¢y fvnd is held to cover unforeseen expendrture.
The fijture proje¢ts lund wll lund any $pecAk on& off pro1￿$ planned.
19 General funds
General funds include cumulative gains on investh*nts measured at fair value of £10712021.. £1291.
20 Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel 15 as follows.
2022
2021
Aggregate compensation
29,155
26.363
18-