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2024-03-31-accounts

COMPANY REGISTRATION NUMBER: 03588496 CHARITY REGISTRATION NUMBER: 1189976 Crest Co-operative Ltd Company Limited by Guarantee Unaudited Financial Statements 31 March 2024

Crest Co-operative Ltd Company Limited by Guarantee Flnancial Stalements Year ended 31 March 2024 Page Trustees. annual report {incorporating the directorfs report) Chartered certified accountants report to the board of trustees on the preparation of the unaudited statutory financial statements statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows Notes to the financial statements 10

Crest Co-operative Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Di￿¢t0￿$ Report) Year ended 31 March 2024 The trustees, who are also the directors for Ihe purFM)ses of company law, present their report and the Jnaudiled financial slalements of the charty for the year ended 31 March 2024 _ Rèference and adminlstratlve details Registered charity name Charity registration number Company registration number Prlncipal offico and registered Unil 2 Bri￿eY House office Ferry Farm Road Llandudno Juncbc Crest Co-operative Ltd 1189976 03588496 LL31 9SF Th¢ trustee$ Mr M Thompson Mrs K M Baker Mrs A K Burke MrLJCox Company secretary Accountants Wendy Williams Jones & Graham Accountants Ltd Chartered Certified Accountants 45 Vale Street DENBIGH Denbighshire LL16 3AH

Structure. govemance and manag9ment Crest Co-operative Ltd is govetned by a voluntsry board of Trustees., during the last reporting year, 6 were registered trustees lincluding the Chairman)). We conlinue to search for an appropiiately experier)cedlskilled candidate as part of our drive to have a full tx)ard of 7 Trnstees. The board of Trustees has mel quartedy by video link Idue to Covid control measures) in the last year. The Senior Managernent team Imanaging Director. Strategic Business Development Manager and the Finance Manager} submit monthly reports to the TrLstees and attend the quarterly Trustee meetings lo answer queries. discuss and vote upon strategic decisions oulsKJe of the scope of everyday operational decision making. Minutes of the meetiros are kept by the Company Secretary. All tnanagement retK)rts are filed on our central server and indude Ihe following information.. Financial HR I Wellbeing Health and safety Departmenlal perfomiance Operatlonal updates Project devèlopment Grants and contracts Objectives and activitios The objectives of the Charity are specffically reskncted to the following.. a} To advance education, training and volunleering particularfy for people with disabilities or in need by reason of their social or economic cirixjmslances. b) The prevention or ￿lie1 of poverty by the recycling I reuse and provision of fumilure. clothes and other household items lo individuals in need andlor charities, or other organisalions wotking to prevent or relieve poverty. cl The relief of unefftploymenl for the benefit of the pJblic in suth ways as rnay be thought fft, including assistance to find employment. d) To promote social inclusion for the public benefit by preventing people from becoming socially excluded. relieving the needs of those people who are socially exduded and assisting them to integrate into society. For the purpose of this Clause,￿laI1Y excluded, means being excluded from society, or parts of society. as a result of one or more of the following factors.. unemployment,. finanial hareship,. youth or old age,. ill health Iphysical or mentall., subslance abuse ￿ dependency including alcohol and drugs.. discnmination on the grounds of sex, race, disability. ethnic 0ri9in. religion, belief, creed. sexual orientation or gerKler re-assignment: poor educational or skills attainment- relationship and family breakdown- poor housing {thal is housing that does not meet basic habitable standards,. crime (e(cher as a victim of crime or 85 an offender rehabilitating into society). e) To promole such other charitable purposes as the trustees may from time to time determine.

Achievements and perfomiance The 2023124 period has been one of both challenge and pr(yJress, as our organisation continued lo navigate the effects of the nationwide cost-of-living crisis. DesFyte the economic pressures, we successfully identified and leveraged opportunib'es lo ftjrther our mission and serve our ￿)mMunIty- The dedication and commitment of our staff and volunteers have been key lo our successes, and we are proud to refflect on the achievemenls of the past year. Key Achlevèments: Community Support and Inclusion.. Provided over 80.000 meals through Cresl Foodshare. signthcanlly ex￿edIng our initial target of 50,000 meals. Thi5 achievement reflects (iur commitment lo supporting those most affected by the ongoing economic crisis. Registered with Social Care Wales. enabling us io enhan￿ our support for adults with learning and physical disabilities. Delivered the Assisted Communily ErT4)loymenl programme, supporting 32 un8mployed individuals back into the workpkce through funding from the UK Shared Prosperity Fund. Partnership Development= Formed partnership wlth anolher reglslered soclal landlords to supply fumiture packs lo tenants, Improvlng thelr quality of life and strengthening community tiès. - Extended the Coflee Pod-Back recycling scheme in ctsllaboralion with Conwy Counly Borough Council. promoting sustainakn'lity and environmental awareness. Renewed the Probation Community Payback contract unbl October 2025. enabling us lo continue providing meaningful opportunities for rehabilitati(M) and eommunty contn"bukn"on. InnDvalion and Growth". Launched Ihe Precious Plastics project in partnership Vdith Circular Communilies Cymru. introducing innovative recycling practices and creating new employment and training opport￿ltieS. - Secured funding lo suprx)rt the Crest Radio Station ManaJer, enhancing our Communicati￿ and outreach capabilities. - Completed a feasibility study for relocaling Irom Douglas Road. lo explore sustainable premises opb"ons. Recognition and Standards: - Achieved 'Business Excellence. status in the UK Rwse audit. highlighting our operatKJnal efficiency and impact. Awarded the Keep Wales Tidy Green Flag award for our ongoing environmental efforts and commitment to 5u5tainabilily. Stsff and (kganisatp)nal DevelopmenL Conducted a compreheT)sive review and revision of the organisation's values in consultation with staff, fostering a unified ar￿ motivated workforce. Increased staff pay lo maintain parity with local authority rat&s and delivered an annual pay increase for the fourth consecutwe year, ensuring all staff earn above the National Minimum Wage. Undertook a detailed review of fflanagemenl and goverrbance pro￿d￿reS. strengthening organisational oversight and effectiveness. Looking Forward.. While 2023124 presellted significant challenges, our achievernerts ullderscore our resilience 2nd adaptability. We are well-positioned lo build on this foundath)n in 2024125. focusing on furthering our core activities. expanding partnerships, and continuing to deliver vilal services lo our community. With the o)ntinued support of our staff, volunteers, and partners. we are confi(Jent in our ability lo meet fvture thallenges an(J athieve our mission. Financial review The financial trans￿tiOnS of the tharity during the year ar￿ the financi81 position al the end of the year 8re sel out in the attached accounts and are reviewed in the separate Annual Report. The trustee5 consider the financial position lo be satisfactory. Thè trustees have assessed the major risks to which the charity is exposed. a￿1 are satisfied that systems are in place to mib.gate exposure to the major risks. They inte4d to keep this matter under regLJlar rewew.

Small company provisions Thi5 report h35 been prepared in accordaw with the provisions applicable to companies entitled lo the small companies exemplion. The trustees. ann￿￿ report was approved on 20 December 2024 and signed on behalf of the board of trustees by.. Mr M Thornpson Trustee

Crest Co-operative Ltd Company Limited by Guarantee Chartered Certified Accountants Report to the Board of Trustees on the Preparation of thè Unaudited Statutory Financial Statements of Crest Co-operative Ltd Year ended 31 March 2024 As described ON the statement of finantial posib"on. the trustees of the ch2rily are responsible for the preparation of the financial statements for the year ended 31 March 2024. which comprise the slalement of financial activities linclLJding income and expenditure account), statement of finanaal posibon. ststement of cash flows and the related notes. You consider that the charity is exempt from an audit under the Companies Act 2006. In accordance with your instrucb"ODS we have compild these financial statements in order to assist you lo fulfil your stslulory responsibilities, from the acc(yJnling records and fror) infomation and explanations supplied to us. Jones & Graham Accountants Ltd Chartered Certified AccounAnts 45 Vale Street DENBIGH Denbighshire LL16 3AH 20 December 2024

Crest Co-operative Ltd Company Limited by Guarantee Statement of Financial Activities (Including Income and expenditure account) Year ended 31 March 2024 2024 2023 Unreslricted funds Total funds Total funds Income and endovrnents Donations and legacies Trading activities Investment income 552.791 220,747 552.791 220.747 409,902 218,312 Total Income 773.547 773.547 628,214 Expendlture Expenditure on raising ftJnds= Costs of other trading activities Expendilure on charitable activities 39.876 7SY).275 39,876 790,275 8,370 590,359 Total expendlture 830.151 830,151 598,729 Net lexpenditure}lincome and net movement in funds (56,6041 156.604) 29,485 Reconclllatlon of funds Total funds brought forward 435.852 435,852 406,367 Total funds carried forward 379.248 379,248 435,852 The ststement of financial activities includes all gains arKI losses reix)gnised in the year. All income and expenditure derive from conb"nuing activities.

Crest Co-operative Ltd Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Nole Flxed assets Tangible fixed assets Investments 13 1.371,756 100 1.428.342 100 14 1,371,856 1,428,442 Current a55ets Debtors Cash at bank and in hand 15 296,674 43,895 322,979 55,186 340,569 126,784 378,165 84,431 Creditor5: amount5 falling due wilhin one year 16 Net current assets 213,785 293,734 Totsl assets less current liabilitie5 1.585,641 1,722,176 1,286,324 Creditor5= amount5 falling due after more than one year 17 1.206,393 Net assets 379,248 435.852 Funds oflhe charity Unrestricted funds 379,248 435,852 Total charity funds 20 379,248 435,852 For the year endirbg 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Direclors. responsitmlilies.. - The members have not required the COMp￿Y io obtain an audrt of its financial slatemer)t5 for the year in question in accordance with section 476 The directors acknowledge their responsibilities for complwng with the requiremenls of the Act with resp8cI to acwunting records and the preParat￿n of financial stslements . These financial slalements have been prepared in accordance with the provIs￿nS applicable to companies subject to Ihe small companies, regime.

Crest Co-operative Ltd Company Limited by Guarantee Statement of Financial Position 31 March 2024 These financial statements were approved bv the tr￿ard of trustees and authorised for issue on 20 December 2024 . and are signed on behalf ol the board by.. Mr M Thompson Trustee

Crest Co-operative Ltd Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operatlng actlvllies Nel lexpenditurellincome Adjustments for.- Deprèciation of tangible fixed assets Other interest receivable and similar income 156,604} 29,485 113.071 { 91 302 141,895 Inte￿81 payable and similar charges Accrued income 554 { 2681 1160,7841 Changes in.. Trade and other debtors Trade and other creditors 31.763 151,704 { 42,7681 1111,8971 Cash generated from operations Interest paid Interest re(Eived 45,487 1302) 50,957 (5541 Tax paid 1891 Nel cash from operating actniities 45,194 50,314 Cash flows from investing activities Purchase of tangible assets { 56,485) {80.3141 Nel cash used in investing activib'es { 56,4851 (80.3141 Cash flows from financing activities Procgeds from borrowings 1221 Nel cash used in financing activities 1221 Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of year (11.291 55.186 { 30,0221 85,208 Cash and cash equivalents at end of year 43.895 55.186

Crest Co-operative Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 1. General infomiation The charity is a public benefit enb'ty and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 2 Brierley House, Ferry FaThn Road. Llandudno Junction, Conwy. LL319SF. 2. Statement of compliancè These financial stslements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of IrekrKI'. the Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicaL4e in the UK and Republic of Irgland IFRS 1021 (Charities SORP {FRS 102)) and the Companies Act 2￿6. 3. Accounting policies Basis of preparation The financial slal8ments hav8 b@en prepared on th8 historirAI cost basis, as modiffed by the revaluation of cerlain financial assets and liabilities and inveslmenl properb.es measured at fair value through Income or expenditure. The financial statements are prepared in sterting, whid) Is the functional CUrre￿Y of the entity. Going concern There are no material uncertairblies about the chanty's abilty tr) continue. Judgements and key sources of estimation uncertainty The preparation of the financial ststements requires management to make judgements. estirnates and assumplions that affect the amounts rewrted. These eslimales and judgements are continually reviewed and are based on experience and other factors. including expectations of fulure events that are believed lo be reasonable under the circumstances _ Income tax The taxation experw represents the aggregate amount of current and deferred tax recTrJnised in the reporting period. cyr￿n¢ lax is recognised on taxable income or eXpe￿IllUre Ihe current and past periods. C￿r￿n1 tax is measured at the amounts of lax expected lo pay or recover using the tax rates and laws that have been enacted or substantively enacted at the retM)rting date.

Fund accounting Unrestricted funds are available for use at the discretion of the truslees to further any of the charity's purposes. Desigr)aled fLJnds are unreslricled fvnds earmarked by the tnjstees for particular future project or commitment. Resthcted funds are subjected lo restricbons on their expenditure dedared by the donor or through the terms of an appeal. and fall into one of two sub-dasses". restricted income lunds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed lo the charity: it is probable that the economic benefits associated wtth the transaction will flow to the charity and the anKJunl can be reliably measured. The followng specffic poI￿leS are applied to partiCLJlar categories of income.. income from donations or grants is recognised when there is evidence of enlillemenl to the gift. receipt is probable and its amount can be measured reliably. legacy In￿Me is recognised when receipt is probable and entitlement is established. income from donated goods is measu-ed al the fair value of the goods unless Ihis is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and serVI￿S are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the conlributson of general vdunteers. Income from contracts for the supply of Services 15 recognised with the delivery of the corbtracted service. This is classrfied as unreslricled funds unless there is a conlraclual requiremenl for il lo be spent on a parbcular purpose and returned if UnS￿nI. in which case il may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is dassified under healings of the statement of financ￿1 acttvities to which it relates.. expenditur& on raising funds indudes the costs of all fundraising activities. events. non-charitable trading activities, and the sale of donated goods. expenditure on tharilat4e activities includes all costs incurred by a charity in unijertaking activities that further Its charitsble aims for the benefit of ils beneficiaiies, including those support costs and costs relating to the governance of the tharity apportioned to charitsble activities. other expenditure includes all expenditure Ihat is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories ref ecling the use of the resource. Direct costs 3ttribLrtable to a single activity are allocated directly to Ihal actsvity. Shared costs are apportioned belween the adivilies they contribute lo on a reasor)able. jusbfiable and consistent basis. Tangible assets Tangible assets are inttially re(x)rded at cosl, and sUbSequen￿Y Stat￿ at cost less any accumulated depreciation and impaimient losses. Any tsngible assets tsrried at revalued amounts are recorded al the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulaled impaimienl losses. An increase in the carying amount of an asset as 8 result of a revaluation, is recogr)ised in other recognised gains and losses, unless it reverses a charge for impaimienl that has previously been recognised as expenditure within the statement of financial activities. A decrease in Ihe carrying amourt of an asset as a result of revaluation, is recognised in other recognised gains and losses. ex￿pt to it offsets any previous revaluation gain, in which case the loss is shown within other rec¢yJnised gains and losses on Ihe statement of financial activities.

Depreciation DepreG13t1￿ is calculated so as to write off the or valuation of an asset. less its residual value, over the useful economic life of that asset as follows= ProFerty and improvements Long leasehold propety Enterprise aclivits'es equip & fillings Office F&F a￿1 computer equipment Motor vehides 4% strawJht line 4QA straKJht line 25% straight line 20% straight line 25Yo straight line Investments Unlisted equty investments a￿ initially recorded al cost. and subsequently measured al fair value. If fair value cannot be reliably measured. assets are measured at cost less irnpairmenl. Li51ed inveslments are measured al fair v3lue wilh changes in fair value beino recogni5ed in income or expenditure.

Investmgnls in associates Inveslwnents in associates accounled for in accordance wtlh the cost model are recorded at cosl less any accumulated impairment losses. Investments in assoryates accounted for in accordance with Ihe fair value model are initially recorded at the transactK)n price. At each reporting date. the investments are measured at fair value, with changes in fair value tsken through income or expendtture. Where il is impract￿bIe to measure fair value reliably without undue cost or effort. the cost model wll be adopted. DNidends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the da".e of acquisition. Investments in joint ventures Investments in jointly conlrclled enlilies aCC(￿nted fc* in acccrdance with the cost model are recorded al cost less any accumulated impaimienl losses. Investments in fft)inlly controlled entities account￿ for in accordance with the fair value model are initially recorded at the transaction price. Al each reporting date, the investments are measured at fair value, with changes in fair value taken through Incon￿ or ex￿ndIture. Where it is impracticable to measure fair value reliably without undue cost or effort, Ihe cost model will be adopted. Dividends and other distributions received from the inveslment are recognised as income wlhoul regard to whelher the distributions are frown accurnulated profits of the jtmnt venture ari5illg before or after the date of acquisitK)n. Impalrment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exisl. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each rew)rting date. For the purposes of impairnelll le51ing. when it is not possible to esfj'mate the recoverable amoLJnt of an individual asset, an estimate is made of thè récoverablè amount of the cash-generating unil to which the asset belongs. Government grants Government grants are recognised al the fair value of the asset re￿iVed or receivable. Grants are not recognised until there is reasonable assuran￿ Ihat the Charity wll comply with the condilions attaching to them and the grants will be reG￿ved. Where the grant does not impose specffied fvture perfOrman￿-re1ated Gondilions on the recipient, it is recognised in illcome when the grant proceeds are recetved or receivable. Where the giant does impose specified future performance-relaled condf(ions on the recipient, il is recognised in InC￿e only when the pèrform2nce-relaled conditions have been met. V4here grants re￿iVed are prior to satisfying the revenue recognition criteria, they are recognised as a liabilty.

  1. Limited by guarantee Nutnber of Iru5tees a5 al the Year-er￿ was 4. The warranty liability is ￿stricted to £1 per trustee. The company keeps a register of trustees at its regis-.ered offre and has been satisfactorily maintained throughout the current year. An extract has been reproduced below of the overall membership movements:. Trustees brought forward 4 New trustees appointed O TrLJslees resigned O Trustees carried forNard 4 The list of trustees carried forward as at 31.03.2024 is as follows:_ Michael James Thompson Laurence Jonathan Cox Anna Katrina Burke Katie Michelle Baker
  2. Donations and legacies Unreskncted Total Funds Funds 2024 Unreslricled Funds Total Funds 2023 Donations Donations 29.759 176.729 29.759 176.729 11,576 171.271 11,576 171,271 Crest Trading Stores Ltd Grants Denbighshire Work Opportunilies The National Lottery Other Grants 217.065 114.238 15.000 217.C65 114,238 15.000 209,099 209,099 17.956 17,956 552.791 552.791 409.￿2 409,902
  3. Trading activities Unrestrictgd Funds Total Funds Unrostrict&d Funds Total Funds 2023 2024 Trading income Collections Furniture packs Sales of donated items Ragamuffins toys & cloth8s salès Roorn rental Probation seNice ino)me 340 489 161.051 142.409 35,750 142.409 35.750 161.L)51 464 464 157 157 195 195 715 715 42,000 42.000 29,167 14.918 11,313 29,167 14.918 11,313 Training income Other income 85 85 220,747 220.747 218.312 218.312

  4. Investrnent Incom8 Unrestricted Total Funds Funds 2024 Unrestricted Funds Total Funds 2023 Bank interest receivable

  5. Costs ol other trading activities unrestn.cted Total Funds Funds 2024 Unrestricted Funds Total Funds 2023 Foodshare project 39,876 39.876 8,370 8.370

  6. Expenditu￿ on ¢h•ritsble activities by aetivrty type Activities undertaken direcuy SupFX)rt costs Totsl funds 2024 Total fund 2023 Work Opportunities Precious Plastics 109.233 1.095 25.479 89.497 188.396 2.938 109,233 1.095 25.479 89.497 188.396 2.938 373,637 115,562 Training Pabo Lane. Llandudrlo Junctic Household Drivers 34,753 72,670 167,604 11,849 187,921 Probatio Governance costs 373,637 416.638 373.637 790.275 590.359
  7. Net (exp¢nditureyin¢ome Nel lexpendilureyincome is slated after chargingllcrediting)= 2024 2023 Depr8ciation of tsngible fixed assets 113.071 141,895
  8. Staff costs Thè total staff costs and èmployee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries 519,587 371,393 The avera￿ head count of employees during the year was 41 (2023= 42 }. No employee received ernployee benefits of more than £60.000 during the year (2023.. Nill-

  9. Trustee remuneration and expenses No remuneration or other benefils from employment with the chanty or a related entity were receNed by the trustees.

  10. Tangible fixed assets Entsrprise Office F&F and Freehold Long leasehold activilies fittings ccmpuler property property & containers equipment Motor vehicles Total Cost At 1 Apr 2023 Additions 1.476.979 15,143 287.359 82.047 253.822 3.345 254.882 37,997 2,355,089 56,485 At 31 Mar 2024 1.492.122 287,359 82.047 257.167 292,879 2,411,574 Depreciation At 1 Apr 2023 Charge for the year 386.466 58,330 34,483 11.494 82.047 195.134 27.483 228,617 15.764 926,747 113,071 At 31 Mar 2024 444.796 45.977 82.047 222.617 244,381 1,039,818 Carrying amount At 31 Mar 2024 1.047.326 241.382 34,550 48,498 1.371.756 At 31 Mar 2023 1.090,513 252.876 58.688 26,265 1,428,342

  11. Inv•stm•ntS Shares in group undertakings Cost or valuation At 1 Apr 2023 and 31 Mar2024 100 lrnpairment At 1 Apr 2023 and 31 Mar2024 Carrying amount At 31 Mar 2024 100 At 31 Mar 2023 100 All inveslmenls shown above are held al valualiM.

  12. Debtors 2024 2023 Trade debtors 144.520 145.202 282.847 284,563 (130,693) 1106,7861 Prepayments and accrued income other debtors 296.674 322,979

  13. Creditors: amounts falling due within one year 2024 2023 Trade credf(ors 18.453 20.927 84.238 3.166 49.485 15.737 19.209 Accruals and deferred income Social security and other taxes Other creditors 126.784 84,431

  14. Credltors: amounts falllng due aft•r morn than one year 2024 2023 Accruals and deferred income 1.206.393 1.286,324
  15. Deferred incorne 2024 2023 At 1 April 2023 Amount released to income 1.286.324 1,390.318 179.931) 1103,9941 At 31 March 2024 1.206.393 1,286.324
  16. Government grants The amounts recognised in the financial statements for government grants are as follows- 2024 2023 Recogni5ed in credilor5'. Deferrèd govèmmernt grants due aftèr more Ihan one yèar 1,286,324 1,390,318
  17. Analysis of charitabl• funds Unrestricted funds At 31 Mar At 1 Apr 2023 Income Expenditure 2024 General funds 435.852 773.547 {830.151) 379,248 At 31 Mar 2023 At 1 Apr 2022 Income Expenditure General funds 406,367 628,214 (598,729} 435,852
  18. Analysis of changgs in ngt dobt At 31 Mar 2024 At 1 Apr 2023 Cash flows Cash at bank and in hand 55.186 111.2911 43,895

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