| Registered charity name |
Crown Crest Charitable Incorporated Organisation |
| Charity registration number |
1176149 |
| Principal office |
1 Bedding Lane |
|
NORWICH |
|
NR3 1RG |
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CROWN CREST CHARITABLE INCORPORATED ORGANISATION (continued)
Year ended 5 April 2023
-
Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Ataf Salim (Senior Statutory Auditor)
For and on behalf of
Kilsby & Williams LLP Chartered accountants & statutory auditor Cedar House Hazell Drive Newport NP10 8FY
01/02/2024
- 6 -
| Yearended 5 April 2023 |
|
|
|
|
|
|
2023 |
|
2022 |
|
|
Unrestricted |
|
|
|
|
funds |
Total funds |
Total funds |
|
Note |
£ |
£ |
£ |
| Income and endowments |
|
|
|
|
| Donations and legacies |
4 |
|
— |
10,000,000 |
| Investment income |
5 |
2 |
2 |
1 |
| Total income |
|
2 |
2 |
10,000,001 |
| Expenditure |
|
|
|
|
| Expenditure on charitable activities |
6,7 |
297,060 |
297,060 |
102,364 |
| Total expenditure |
|
297,060 |
297,060 |
102,364 |
| Net (expenditure)Jincome and net movement in funds |
|
(297,058) |
(297,058) |
9,897,637 |
| Reconciliation offunds |
|
|
|
|
| Total funds brought forward |
|
11,144,780 |
11,144,780 |
1,247,143 |
| Total funds carried forward |
|
10,847,722 |
10,847,722 |
11,144,780 |
| 5 April 2023 |
|
|
|
|
|
2023 |
2022 |
|
Note |
£ |
£ |
| CURRENT ASSETS |
|
|
|
| Cash at bank and in hand |
|
10,850,422 |
11,147,480 |
| CREDITORS: amounts falling due within one year |
11 |
2,700 |
2,700 |
| NET CURRENT ASSETS |
|
10,847,722 |
11,144,780 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
10,847,722 |
11,144,780 |
| NET ASSETS |
|
10,847,722 |
11,144,780 |
| FUNDS OF THE CHARITY |
|
|
|
| Unrestricted funds |
|
10,847,722 |
11,144,780 |
| Total charityfunds |
12 |
10,847,722 |
11,144,780 |
| Yearended 5 April 2023 |
|
|
|
2023 |
2022 |
|
£ |
£ |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net (expenditure)fincome |
(297,058) |
9,897,637 |
| Adjustmentsfor: |
|
|
| Other interest receivable and similar income |
(2) |
(1) |
| Cash generated from operations |
(297,060) |
9,897,636 |
| Interest received |
2 |
1 |
| Net cash (used in)/from operating activities |
(297,058) |
9,897,637 |
| NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS |
(297,058) |
9,897,637 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |
11,147,480 |
1,249,843 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR |
10,850,422 |
11,147,480 |
| 4. |
DONATIONS AND LEGACIES |
|
|
|
|
|
|
|
Unrestricted |
Total Funds |
Unrestricted |
Total |
Funds |
|
|
Funds |
2023 |
Funds |
|
2022 |
|
|
£ |
£ |
£ |
|
£ |
|
DONATIONS |
|
|
|
|
|
|
Donations |
|
— |
10,000,000 |
10,000,000 |
|
| 5. |
INVESTMENT INCOME |
|
|
|
|
|
|
|
Unrestricted |
Total Funds |
Unrestricted |
Total |
Funds |
|
|
Funds |
2023 |
Funds |
|
2022 |
|
|
£ |
£ |
£ |
|
£ |
|
Bank interest receivable |
2 |
2 |
1 |
|
1 |
| 6. |
EXPENDITURE ON CHARITABLE |
ACTIVITIES BY FUND TYPE |
|
|
|
|
|
|
Unrestricted |
Total Funds |
Unrestricted |
Total |
Funds |
|
|
Funds |
2023 |
Funds |
|
2022 |
|
|
£ |
£ |
£ |
|
£ |
|
Provision of grant funding |
290,837 |
290,837 |
100,094 |
100,094 |
|
|
Support costs |
6,223 |
6,223 |
2,270 |
|
2,270 |
|
|
297,060 |
297,060 |
102,364 |
102,364 |
|
|
|
|
Activities |
|
|
|
|
|
|
|
undertaken |
|
|
Total funds |
Total fund |
|
|
|
directly |
Support |
costs |
2023 |
2022 |
|
|
|
£ |
|
£ |
£ |
£ |
| Provision |
ofgrant |
funding |
290,837 |
|
6,223 |
297,060 |
102,364 |
| ANALYSIS OF SUPPORT COSTS |
|
|
|
|
Provision of |
|
|
|
grant funding |
Total 2023 |
Total 2022 |
|
£ |
£ |
£ |
| Finance costs |
402 |
402 |
165 |
| Governance costs |
5,820 |
5,820 |
2,105 |
|
6,222 |
6,222 |
2,270 |
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
| Accruals |
and |
deferred |
income |
2,700 |
2,700 |
|
|
At |
|
|
At |
|
|
6 April 2022 |
Income |
Expenditure 5 April 2023 |
|
|
|
|
£ |
£ |
£ |
| General |
funds |
11,144,780 |
2 |
(297,060) |
10,847,722 |
|
|
At |
|
|
At |
|
|
6 April 2021 |
Income |
Expenditure 5 April 2022 |
|
|
|
£ |
£ |
£ |
£ |
| General |
funds |
1,247,143 |
10,000,001 |
(102,364) |
11,144,780 |
| 13. |
ANALYSIS OF NET ASSETS BETWEEN FUNDS |
|
|
|
|
|
|
Unrestricted |
Total Funds |
|
|
|
Funds |
2023 |
|
|
|
£ |
£ |
|
Current assets |
|
10,850,422 |
10,850,422 |
|
Creditors less than 1 year |
|
(2,700) |
(2,700) |
|
Net assets |
|
10,847,722 |
10,847,722 |
|
|
|
Unrestricted |
Total Funds |
|
|
|
Funds |
2022 |
|
|
|
£ |
£ |
|
Current assets |
|
11,147,480 |
11,147,480 |
|
Creditors less than 1 year |
|
(2,700) |
(2,700) |
|
Netassets |
|
11,144,780 |
11,144,780 |
| 14. |
ANALYSIS OF CHANGES IN NET DEBT |
|
|
|
|
|
|
|
At |
|
|
At 6 Apr 2022 |
Cash flows |
5 Apr 2023 |
|
|
£ |
£ |
£ |
|
Cash at bank and in hand |
11,147,480 |
(297,058) |
10,850,422 |