**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.
- 1 -
## **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
- 2 -
## **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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 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.
- 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
- 3 -
## **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|**Total**Unrestricted
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.
- 4 -
## **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**
- 5 -
## **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.
- 6 -
## **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.
- 7 -
## **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.
- 8 -
## **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|**Total**Unrestricted
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|
- 9 -
## **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**
- 10 -
## **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|
- 11 -
## **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|**Total**Unrestricted
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) .
- 12 -