Charity Registration No. 07295048
CROSBY TOGETHER
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
CROSBY TOGETHER
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | M Whitehouse | |
|---|---|---|
| J Brader | ||
| Rev J Wearing | (Appointed 6 July 2020) | |
| S Whitehouse | ||
| A Cook | ||
| J M Tong | ||
| P Lewis | ||
| F Kirby-Smith | ||
| P A Gravel | ||
| Charity number | 07295048 | |
| Independent examiner | Azets | |
| Ruthlyn House | ||
| 90 Lincoln Road | ||
| Peterborough | ||
| Cambridgeshire | ||
| United Kingdom | ||
| PE1 2SP |
CROSBY TOGETHER
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
CROSBY TOGETHER
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
Objectives and activities
The charity's primary purpose is to further or benefit the residents of North Lincolnshire and in particular the Crosby area of Scunthorpe. Connecting residents, local authorities, voluntary and other organisations in an effort to advance education and to provide facilities in the interests of social welfare and life improvement. The charity operates a community centre and runs centre activities and there has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The year 2020-2021 was highly difficult and unpredictable on throwing up many challenges for the Centre due to COVID-19. The two lockdowns caused income to drop significantly for substantial periods of time. Fortunately, we were able to take advantage of the furlough scheme which was a major help.
Unfortunately, one major long-term renter, Adult Community Learning moved out of the building as the restructured their delivering courses. This led to a significant drop in income.
In response to the pandemic, our volunteers started the Fresh Food project which takes surplus fresh food from local supermarkets ad FareShare and distributes it among the local community.
We were successful during the year obtaining a number of grants. The most significant being from the Big Lottery which was in excess of £35,000 (from their COVID support fund). Among other things this enabled us to make some major physical changes to the building to open up access and the use of the premises as we move forward out of the pandemic.
We have been able to provide a new cafe courtyard and new access tot he drop-in cafe area, a cover for the courtyard area, seating and funding for the Fresh Food project, and some help with staff costs. This has all been an enormous benefit for the Centre and the Fresh Food projects which at its peak was feeding up to 80+ clients a week. Further grants from Tescos, Lincolnshire Community, FarShare, Martin Lewis and our local council were also given to help with the delivery of the Fresh Food project.
Financial review
At the start of the year, we subcontracted our book-keeping to a local company and changed our accounting software. This has produced a significant saving against our previous arrangement. During the pandemic we kept utility and other costs down as much ass possible to save money.
The Trustees are pleased to report a significant improvements in our financial position this year and despite difficulties of COVID we continue to seek further opportunities to serve our community. In the longer term we are considering how we can meet the significant needs of our local area as the effect of the pandemic subsides.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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CROSBY TOGETHER
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
The trustees has 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.
Structure, governance and management
The charity is a CIO which was registered on 26 August 2016.
The trustees who served during the year and up to the date of signature of the financial statements were:
M Whitehouse
J Brader Rev J Wearing (Appointed 6 July 2020) S Whitehouse A Cook J M Tong P Lewis F Kirby-Smith P A Gravel
The trustees' r eport was approved by the Board of Trustees.
M Whitehouse
Chair of Trustees Dated: 26 January 2022
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CROSBY TOGETHER
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CROSBY TOGETHER
I report to the trustees on my examination of the financial statements of Crosby Together (the charity) for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable 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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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4 the financial statements 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 financial statements to be reached.
M L Craig FCCA
Azets
Ruthlyn House 90 Lincoln Road Peterborough Cambridgeshire PE1 2SP United Kingdom
Dated: 26 January 2022
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CROSBY TOGETHER
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 3 53,018 6,000 Charitable activities 4 20,324 - Investments 5 4 - Total income 73,346 6,000 Expenditure on: Charitable activities 6 50,245 1,715 Net incoming resources before transfers 23,101 4,285 Gross transfers between funds 2,105 (2,105) Net income for the year/ Net movement in funds 25,206 2,180 Fund balances at 1 April 2020 291,118 2,105 Fund balances at 31 March 2021 316,324 4,285 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 59,018 17,501 2,460 20,324 62,861 - 4 9 - 79,346 80,371 2,460 51,960 60,918 4,774 27,386 19,453 (2,314) - - - 27,386 19,453 (2,314) 293,223 271,665 4,419 320,609 291,118 2,105 |
Total 2020 £ 19,961 62,861 9 82,831 65,692 17,139 - 17,139 276,084 293,223 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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CROSBY TOGETHER
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Income funds Restricted funds Unrestricted funds |
2021 £ 18 - 34,785 34,803 (516) |
£ 286,322 34,287 320,609 4,285 316,324 320,609 |
2020 £ 18 1,481 7,345 8,844 (1,462) |
£ 285,841 7,382 293,223 2,105 291,118 293,223 |
|---|---|---|---|---|
The financial statements were approved by the Trustees on 26 January 2022
M Whitehouse Trustee
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CROSBY TOGETHER
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CROSBY TOGETHER
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.5 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 2% straight line Plant and equipment 20% reducing balance Fixtures and fittings 10% straight line Computers 20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.6 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.7 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell . Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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CROSBY TOGETHER
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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CROSBY TOGETHER
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
3 Donations and legacies
| Unrestricted Restricted funds funds 2021 2021 £ £ Donations and gifts 35,554 - Grant income 17,464 6,000 53,018 6,000 Grants receivable for core activities General grants 11,500 - JRS scheme grant 5,964 - Fresh Food Project - 6,000 English Conservation Project - - Maintenance grants - - 17,464 6,000 |
TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 35,554 - - 23,464 17,501 2,460 59,018 17,501 2,460 11,500 17,501 - 5,964 - - 6,000 - - - - 504 - - 1,956 23,464 17,501 2,460 |
Total 2020 £ - 19,961 19,961 17,501 - - 504 1,956 19,961 |
|---|---|---|
4 Charitable activities
| Community | Community |
|
|---|---|---|
| education & | education & |
|
| facilities | facilities |
|
| 2021 | 2020 |
|
| £ | £ |
|
| Rental income for education, wellbeing and faith | 20,239 | 61,597 |
| Coffee shop | 85 | 1,264 |
| 20,324 | 62,861 |
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Interest receivable | 4 | 9 |
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CROSBY TOGETHER
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
6 Charitable activities
| Staff costs Depreciation and impairment Events and cafe costs Share of support costs (see note 7) Share of governance costs (see note 7) Analysis by fund Unrestricted funds Restricted funds Support costs Support costs Governance costs £ £ Repairs & manitenance 8,832 - Utilities 6,904 - Insurance 1,836 - Cleaning 2,361 - Telephone & IT 935 - Other admin costs 2,372 - Rent - - Accountancy fees - 3,460 23,240 3,460 Analysed between Charitable activities 23,240 3,460 |
Community education & facilities Community education & facilities 2021 2020 £ £ 14,645 24,413 8,713 2,574 1,902 8,862 25,260 35,849 23,240 29,058 3,460 785 51,960 65,692 50,245 60,918 1,715 4,774 51,960 65,692 2021 Support costs Governance costs 2020 £ £ £ £ 8,832 3,364 - 3,364 6,904 13,223 - 13,223 1,836 1,998 - 1,998 2,361 3,884 - 3,884 935 1,593 - 1,593 2,372 2,336 - 2,336 - 2,660 - 2,660 3,460 - 785 785 26,700 29,058 785 29,843 26,700 29,058 785 29,843 |
|---|---|
7 Support costs
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CROSBY TOGETHER
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
The average monthly number of employees during the year was:
| 2021 Number 2 Employment costs 2021 £ Wages and salaries 14,645 Tangible fixed assets Freehold land and buildings Plant and equipment Fixtures and fittings Computers £ £ £ £ Cost At 1 April 2020 260,000 6,707 21,013 695 Additions - 2,070 7,123 - At 31 March 2021 260,000 8,777 28,136 695 Depreciation and impairment At 1 April 2020 - 924 1,511 139 Depreciation charged in the year 5,200 1,191 2,210 111 At 31 March 2021 5,200 2,115 3,721 250 Carrying amount At 31 March 2021 254,800 6,662 24,415 445 At 31 March 2020 260,000 5,783 19,502 556 |
2020 Number 2 2020 £ 24,413 Total £ 288,415 9,193 297,608 2,574 8,712 11,286 286,322 285,841 |
|---|---|
10 Tangible fixed assets
The property has been valued by Grice & Hunter Chartered Surveyors.
11 Stocks
| Stocks | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Finished goods and goods for resale | 18 | 18 |
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CROSBY TOGETHER
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
12 Debtors
| Amounts falling due within one year: Trade debtors 13 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income 14 Analysis of net assets between funds Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 31 March 2021 are represented by: Tangible assets 286,322 - Current assets/ (liabilities) 30,002 4,285 316,324 4,285 |
TotalUnrestricted funds 2021 2020 £ £ 286,322 285,841 34,287 7,382 320,609 293,223 |
2021 £ - 2021 £ 274 242 516 Restricted funds 2020 £ - - - |
2020 £ 1,481 2020 £ 1,731 (269) 1,462 Total 2020 £ 285,841 7,382 293,223 |
|---|---|---|---|
15 Related party transactions
There were no disclosable related party transactions during the year (2020 - none) .
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