Company registration number: 08425370 Charity registration number: 1158133
Cornwall Crafts Association
(A company limited by guarantee)
Annual Report and Financial Statements for the Year Ended 31 December 2025
Cornwall Crafts Association
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 5 |
| Statement of Trustees' Responsibilities | 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 23 |
Cornwall Crafts Association
Reference and Administrative Details
Trustees
Martin Page Timothy Rogers Jane Smith Reece Ingram Paul Jackson Hilary Gibson Felicity Beckett Florence Denny
Charity Registration Number 1158133
Company Registration Number 08425370
Registered Office Trelissick Gallery Trelissick Feock TRURO TR3 6QL
Principal Office
Trelissick Gallery Trelissick Feock TRURO TR3 6QL
Independent examiner
N Hallam FCCA Crane & Johnston C&J Ltd Chartered Certified Accountants 11 Alverton Terrace Penzance Cornwall TR18 4JH
Bankers
Barclays Bank 14 King Street Truro Cornwall TR1 2RB
Page 1
Cornwall Crafts Association
Trustees' Report
The trustees present their annual report and financial statements for the year ended 31st December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in the financial statements and comply with the charity’s Memorandum and Articles of Association, the Companies Act 2006 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).
Objectives and activities
The objectives are to promote any charitable purpose which will encourage the exercise and maintain the standards of crafts both ancient and modern, preserve and improve craftsmanship and promote and increase the interest of the public herein particularly in the county of Cornwall.
Public benefit
The charity complies with the public benefit requirement through its charitable objectives.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives set.
Chairman’s report – incorporating Achievements and performance and Plans for the future
The CCA has established a habit of taking on a lot, and 2025 has been another very busy year. It started with our flagship exhibition, Craftsmanship 2025. Another stunning display by the members. This year there was the winter warm up meeting in January too.
The marketing group and the education group we officially recognised. These 2 groups specialise in focusing on the 2 areas, drawing up action plans and consult with the committee. It has worked well and continues to do so.
The head gardener of the National Trust, Neil Stevenson gave an inspirational talk about the Woodland at Trelissick. This fed into the subject matter for the summer show, ‘Woodland Wonderland’.
We were very sad to hear of the sudden death of committee member Angela Annesley, her print making and art was outstanding, and her contribution to the CCA very valuable. She is deeply missed.
In the spring we held a member’s selection. Six new makers were selected, Jaz Odell, woodcarver, Pam Betowski, textiles, Catherine Lovett, Printmaking, Bridget Macklin, Ceramics, Ben Barker, Wire sculpture and Automaton and Julia Harper, Ceramics. It is lovely to have them on board.
Reece Ingram was most generous with his time, holding a Woodland Day for CCA Members. Charcoal making, press printing and mould making made a memorable and highly useful day.
We remember at this time that Maya Ullman and Suzy Sharpe conducted an interview at Radio Cornwall to promote the Woodland Exhibition. We thank them for the exposure it gave to the show. The Woodland Exhibition opened on the 3rd of May. Some extraordinary work was displayed. The exhibition looked quite wonderful. Thank you Elinor for curating another winner.
Page 2
Cornwall Crafts Association
Trustees' Report
Throughout the year Focuses are offered to makers in the foyer. Normally we try and get 2D work for the walls and 3D work on the plinths. This year we saw displays by Lesley Harry, Prints, and Jane Smith with her distinctive clay and glass work. They were followed by Graham Black, prints and Paula Downing, ceramics. They were much enjoyed.
The CCA also collaborated with the National Trust, to stage a show in Trelissick House. The title was "What you love about Trelissick”. Suzy Sharpe, Claire Armitage and Maya Ullman all hosted workshops to promote this theme. We especially enjoyed Maya’s outdoor mobile making workshop from found wooden objects.
In September we held our autumn selection, with 4 new makers selected. Adrian Holmes, Printmaker, Rose North, Textiles, Martin Douglas, Lutheran and Licy Clayden, Ceramics. Their work is a breath of fresh air and we wish them well.
Another thing was the Raku workshop held by Reece Ingram. It ran over 2 days and was very well attended. People were able to make and fire in that time. By all accounts it was very enjoyable as well as informative.
The autumn exhibition opening was struck by bad weather. However, when it did open there was a good number in attendance.
The workshops were as a result of planning by the Educational Group. The committee is made up of Debbie Rudolph, Reece Ingram and Suzy Sharpe. The program consisted of Lino printing with Claire Armitage, Mono Printing with Suzy Sharpe, Tapestry weaving with Debbie Rudolph and Ceramic Birds making with Reece Ingram. They were all very well attended and made a useful contribution to CCA’s finances. They were also very important in fulfilling our educational commitment as a Crafts Charity. We will be looking for new makers for next year’s programme.
At the end of the year, we hosted Automatist Paul Spooner. The talk and demonstration of his Automata was a great success, and it was a full house. We very much thank him for giving his time so generously in support of CCA.
We ended the year with our competition to make a Christmas tree decoration. This year’s winner was Amy Cooper with her Fly Agaric mushrooms. They were great and really caught the public’s imagination. The busy year has demanded huge effort by all the staff. We thank them for all they have done. We also thank the hard work of the Marketing Group and Educational group, and a thank you to all our members for their stunning work, without which we would not have an association.
As ever we look forward to another action-packed year in 2026.
Financial review
Result for the year
The Association’s income totalled £101,107 in the year ended 31st December 2025. Total expenditure was £103,145. The Association’s main expenditure continues to be in relation to salary and wage costs, as well as the direct costs of operating the Trelissick gallery.
The trustees are aware of the deficit for the year. Costs continue to be carefully controlled, and a balanced budget has been set for 2026, which is closely monitored.
Page 3
Cornwall Crafts Association
Trustees' Report
Reserves policy
The trustees aim to ensure the Association’s long-term viability and therefore seek to hold six months running costs in reserves at any one time. This policy is reviewed annually.
At 31st December 2025, the unrestricted funds of the charity were £47,595 (2024: £49,638). Of these funds, £40,000 has been designated by the trustees, with the balance of £7,595 held in the general fund.
The reserves held of £47,595 amount to approximately 5½ months of running costs.
Investment policy
The trustees regularly review the cash held by the charity, and place surplus funds in an interestbearing deposit account when appropriate.
Risk management
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Tax status
Being a registered charity, Cornwall Crafts Association is exempt from corporation tax on its investments and other income.
Structure, Governance and Management
Governing document
The charity is incorporated as a company limited by guarantee under the provisions of the Companies Act 2006. Its governing documents are its Memorandum and Articles of Association which are publicly available on the Companies House website.
Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the company in the event of a winding up.
The trustees, who are also the directors for the purposes of company law, and who served during the year were:
Paul Jackson (Chairman)
Martin Page
Timothy Rogers
Elinor Lamond (resigned 1st March 2026)
Reece Ingram
Jane Smith
Suzy Sharpe (appointed 21st March 2025, resigned 10th November 2025)
Page 4
Cornwall Crafts Association
Trustees' Report
Florence Denny (appointed 1st March 2026)
Hilary Gibson (appointed 1st March 2026) Felicity Beckett (appointed 1st March 2026)
Recruitment and appointment of trustees
Suitable individuals are identified by the existing trustees based on their skills and knowledge and are invited to become trustees. New trustees are inducted into the workings of the charity.
The trustees are ultimately responsible for the operation and control of the charity.
Relationship with related parties
Some trustees and former trustees (who are also members of the charity) who are also craftsmen sold items via the Association. Details are reported in note 8 of the financial statements.
Remuneration policy for key management
The Board of trustees comprise the key management personnel of the charity, to be in charge of directing, controlling, running and operating the charity on a day-to-day basis. This includes the gallery manager/administrator, who was also a trustee throughout 2025.
The pay of senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the trustees benchmark against pay levels in other similar organisations.
Page 5
Cornwall Crafts Association
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Cornwall Crafts Association for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and 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, comprising FRS 102 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 charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 20 June 2026 and signed on its behalf by:
Page 7
Cornwall Crafts Association
Independent Examiner's Report to the trustees of Cornwall Crafts Association ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Cornwall Crafts Association as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of 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 accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
...................................... Neil Hallam FCCA Crane & Johnston Chartered Certified Accountants 11 Alverton Terrace Penzance Cornwall TR18 4JH
24 June 2026
Page 7
Cornwall Crafts Association
Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) |
Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) |
|---|---|
| Unrestricted Total 2025 Total 2024 |
|
| Note £ £ £ |
|
| Income and Endowments from: | |
| Donations and legacies 3 |
682 682 5,421 |
| Charitable activities 4 |
98,050 98,050 101,412 |
| Investment income 5 |
2,375 2,375 2,746 |
| Total income | |
| 101,107 101,107 109,579 |
|
| Expenditure on: | |
| Charitable activities 6 |
(103,145) (103,145) (107,296) |
| Total expenditure | |
| (103,145) (103,145) (107,296) |
|
| Gains/losses on investment assets | (5) (5) 13 |
| Net(expenditure)/income | |
| (2,043) (2,043) 2,296 |
|
| Net movement in funds | |
| (2,043) (2,043) 2,296 |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 49,638 49,638 47,342 |
|
| Total funds carried forward 17 |
|
| 47,595 47,595 49,638 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17.
The notes on pages 10 to 23 form an integral part of these financial statements. Page 8
Cornwall Crafts Association
(Registration number: 08425370) Balance Sheet as at 31 December 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| Note | £ | £ | ||
| Fixed assets | ||||
| Tangible assets | 12 | 1,648 | 1,939 | |
| Investments | 13 | 256 | 261 | |
| 1,904 | 2,200 | |||
| Current assets | ||||
| Debtors | 14 | 4,404 | 3,752 | |
| Cash at bank and in hand | 63,422 | 69,268 | ||
| 67,826 | 73,020 | |||
| Creditors: Amounts falling due within oneyear | 15 | (22,135) | (25,582) | |
| Net currentassets | 45,691 | 47,438 | ||
| Netassets | 47,595 | 49,638 | ||
| Funds of the charity: | ||||
| Unrestricted income funds | ||||
| Unrestricted funds | 47,595 | 49,638 | ||
| Total funds | 17 | 47,595 | 49,638 |
For the financial year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The notes on pages 10 to 23 form an integral part of these financial statements. Page 9
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
1 Charity status
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital.
Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Trelissick Gallery Trelissick Feock TRURO TR3 6QL
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Cornwall Crafts Association 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
Under the Charities SORP (FRS 102) the charity is classed as a small charity and is not therefore required to prepare a cash flow statement.
Page 10
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Commission represents income earned from sales of work and accounted for on a receivable basis.
Annual subscriptions from members are recognised in they year that they are received.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Page 11
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Furniture and equipment | 20% reducing balance |
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Page 12
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets the criteria is allocated to the fund, together with a fair allocation of overheads/support costs.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Page 13
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
3 Income from donations and legacies
| Unrestricted | |||
|---|---|---|---|
| funds | Total | Total | |
| General | 2025 | 2024 | |
| £ | £ | £ | |
| Donations and legacies; | |||
| Donations from individuals | 682 | 682 | 421 |
| Legacies | - | - | 5,000 |
| 682 | 682 | 5,421 |
4 Income from charitable activities
| 4 Income from charitable activities |
|
|---|---|
| Unrestricted | |
| funds Total Total |
|
| General 2025 2024 |
|
| £ £ £ |
|
| Commissions | 85,099 85,099 89,938 |
| Subscriptions | 9,400 9,400 10,584 |
| Other income | 437 437 490 |
| Workshops | 3,114 3,114 400 |
| 98,050 98,050 101,412 |
Page 14
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
5 Investment income
| 5 | Investment income | |||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total | Total | ||
| General | 2025 |
2024 | ||
| £ | £ | £ | ||
| Interest receivable and similar income; | ||||
| Interest receivable | 2,375 | 2,375 | 2,746 | |
| 6 | Expenditure on charitable activities |
| 5 Investment income |
|||
|---|---|---|---|
| Unrestricted | |||
| funds Total Total |
|||
| General 2025 2024 |
|||
| £ £ £ |
|||
| Interest receivable and similar income; | |||
| Interest receivable | 2,375 2,375 2,746 |
||
| 6 Expenditure on charitable activities |
|||
| Unrestricted | |||
| funds Total Total |
|||
| General 2025 2024 |
|||
| Note | £ £ £ |
||
| Rent and occupancy | 15,540 15,540 14,899 |
||
| Advertising | 140 140 548 |
||
| Bank and credit card charges | 4,172 4,172 3,666 |
||
| Exhibition and display fees and costs | 1,655 1,655 2,082 |
||
| Cost of goods sold | 1,303 1,303 2,327 |
||
| Workshop | 810 810 - |
||
| Staff costs | 60,664 60,664 66,312 |
||
| Allocated support costs 7 |
15,036 15,036 14,152 |
||
| Governance costs 7 |
3,825 3,825 3,310 |
||
| 103,145 103,145 107,296 |
In addition to the expenditure analysed above, there are also governance costs of £3,825 (2024 - £3,310) which relate directly to charitable activities. See note 7 for further details.
Page 15
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
| 7 Analysis of governance and support costs |
2025 £ 2024 £ 399 485 148 167 156 225 7,866 7,053 631 976 3,201 2,831 1,272 1,175 735 702 564 538 64 - 15,036 14,152 Total Total 2025 £ 2024 £ 3,825 3,035 - 275 3,825 3,310 |
|---|---|
| Support costs allocated to charitable activities | |
| Depreciation | |
| Postage and stationery | |
| Printing and photocopying | |
| Secretarial and bookkeeping charges | |
| Telephone | |
| Insurance | |
| Miscellaneous expenses | |
| Computer and IT costs | |
| Licences | |
| Repairs | |
| Governance costs | |
| Independent Examiner's remuneration | |
| Examination of the financial statements | |
| Legal fees | |
Page 16
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
8 Trustees remuneration and expenses
No trustees were reimbursed expenses from the charity during the year (2024: £nil).
One of the trustees received remuneration (including employers national insurance and pension contributions) of £31,041 (2024: £31,044) for services provided to the charity as gallery manager and administrator. Permission was granted by the Charity Commission to remunerate this trustee.
Two trustees were paid a total of £410 for hosting workshops during the year. No amount was outstanding at the year end.
Page 18
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
9 Staff costs
The aggregate payroll costs were as follows:
| 2025 £ 2024 £ 59,757 65,350 907 962 60,664 66,312 |
|
|---|---|
| Staff costs during the year were: | |
| Wages and salaries | |
| Pension costs | |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2025 No 2024 No 4 4 |
|
|---|---|
| Employees |
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £31,041 (2024 - £31,044).
10 Pension and other schemes
Defined benefit pension schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independent administered fund.
The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was 907 (2024 - £962).
11 Taxation
The charity is a registered charity and is therefore exempt from taxation because all of its income is applied for charitable purposes.
Page 18
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
| 12 Tangible fixed assets |
|
|---|---|
| Furniture and | |
| equipment Total |
|
| £ £ |
|
| Cost | |
| At 1 January 2025 | 47,901 47,901 |
| Additions | 108 108 |
| At 31 December 2025 | |
| 48,009 48,009 |
|
| Depreciation | |
| At 1 January 2025 | 45,962 45,962 |
| Charge for theyear | 399 399 |
| At 31 December 2025 | |
| 46,361 46,361 |
|
| Net book value | |
| At 31 December 2025 | |
| 1,648 1,648 |
|
| At 31 December 2024 | |
| 1,939 1,939 |
Page 19
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
| 13 Fixed asset investments |
|
|---|---|
| Listed investments Total |
|
| £ £ |
|
| Cost or Valuation | |
| At 1 January 2025 | 261 261 |
| Revaluation | (5) (5) |
| At 31 December 2025 | 256 256 |
| Net book value | |
| At 31 December 2025 | 256 256 |
| At 31 December 2024 | 261 261 |
| 14 Debtors |
|
| 2025 2024 |
|
| £ £ |
|
| Trade debtors | 13 - |
| Prepayments | 4,391 3,752 |
| 4,404 3,752 |
|
| 15 Creditors: amounts falling due within one year |
|
| 2025 2024 |
|
| £ £ |
|
| Trade creditors | 10,490 14,009 |
| Other taxation and social security | 933 843 |
| VAT | 3,127 2,742 |
| Accruals | 6,210 6,638 |
| Deferred income | 1,375 1,350 |
| 22,135 25,582 |
Deferred income relates to membership fees received in advance for the following year.
Page 20
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
16 Commitments
Other financial commitments
Land and property
The total amount of other financial commitments not provided in the financial statements was £32,500 (2024 - £39,000).
Page 21
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
17 Funds
| 17 Funds |
|||||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at 1 | Other | 31 | |||||
| January | Incoming |
Resources | recognised |
December | |||
| 2025 £ |
resources £ |
expended £ |
gains/(losses) £ |
2025 £ |
|||
| Unrestricted funds | |||||||
| General | 9,638 | 101,107 | (103,145) | (5) | 7,595 | ||
| Unrestricted designated | |||||||
| funds | |||||||
| Contingency | 35,000 | - | - | - | 35,000 | ||
| Futureprojects fund | 5,000 | - | - | - | 5,000 | ||
| Designated | 40,000 | - | - | - | 40,000 | ||
| Total funds | 49,638 | 101,107 | (103,145) | (5) | 47,595 | ||
| Previous year |
| Previous year | ||||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | Other | 31 | ||||
| January | Incoming |
Resources | recognised |
December | ||
| 2024 £ |
resources £ |
expended £ |
gains/(losses) £ |
2024 £ |
||
| Unrestricted funds | ||||||
| General | 7,342 | 109,579 | (107,296) | 13 | 9,638 | |
| Unrestricted designated | ||||||
| funds | ||||||
| Contingency | 35,000 | - | - | - | 35,000 | |
| Futureprojects fund | 5,000 | - | - | - | 5,000 | |
| Designated | 40,000 | - | - | - | 40,000 | |
| Total funds | 47,342 | 109,579 | (107,296) | 13 | 49,638 |
Page 22
Cornwall Crafts Association
Notes to the Financial Statements for the Year Ended 31 December 2025
The specific purposes for which the funds are to be applied are as follows:
Unrestricted funds
The following funds have been designated by the trustees for the following purposes:
The contingency fund is held to cover unforeseen expenditure.
The future projects fund will fund any specific one off projects planned.
General funds
General funds include cumulative gains on investments measured at fair value of £143 (2024: £148).
18 Related party transactions
Transactions with trustees have been disclosed in Note 8.
During the year the partner of a trustee was paid £1,600 (2024: £1,345) for services provided in relation to the set up of exhibitions. There was £Nil (2024: £Nil) outstanding at the year end.
Page 23