**THE CHARING CROSS CENTRE TRUSTEES’ REPORT**
The trustees present their annual report and financial statement of the charity for the year ended 31 March 2022.
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. The charity has applied Update Bulletin 1 as published on 2 February 2016 and Update Bulletin 2 published on 5 October 2018.
The financial statements have been prepared to give a 'true and fair' view and 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 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) (second edition effective 1 January 2019) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Objectives and activities for the public benefit**
The charity is governed by its constitution which was revised in 1987 and amended in 1999. Its objects are to assist young people to mature and develop by providing facilities, further education, training and recreation. The trustees confirm that they have referred to the Charity Commissions guidance on public benefit when reviewing the charity’s aims and objectives.
## **The accounts**
The Statement of Financial Activities for the year is set out on page 6 of the financial statements. A summary of the financial results and the work of the charity are set out below.
## **Income generation**
Incoming resources decreased against the previous year due to effect of the pandemic.
## **Covid 19**
The charity conformed to the government COVID regulations from March 2020 to the present day. The trustees are grateful for the support given by the City Council in the form of continuing grants and the Government’s Job Retention Scheme.
## **Investment policy and returns**
The trustees’ policy is to invest funds that are not immediately required into the CAF UK Equity Fund and bank savings accounts.
## **Fund-raising**
The funds raised by the charity are set out on page 6 of the Financial Statements.
## **Resources expended and services**
The resources expended are set out on page 6.
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## **THE CHARING CROSS CENTRE TRUSTEES’ REPORT (Continued)**
## **Reserves**
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately twelve months of unrestricted charitable expenditure (£105,000). In addition, the trustees have set aside sufficient funds to support the purchase of the freehold property (£73,265) and to set up a fund of £135,000 in respect of future major repairs which may be required to the freehold property, based on quotes obtained.
The actual level of reserves at 31 March 2022 is in excess of this policy.
## **Governance and internal control**
The charity comprises a panel of existing trustees who are nominated for re-election annually. The trustees meet at least 6 times per year to review the charity’s performance. New trustees are appointed by the appropriate resolution prior to the Annual General Meeting.
The trustees review the financial and other affairs of the charity throughout the year and reviews the charity’s investments, reserves and risk management ensuring all necessary controls are implemented.
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to:-
- select suitable accounting policies and then 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 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.
The trustees have overall responsibility for ensuring that the charity has appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provision of its constitution document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Risk Management**
The trustees carried out a detailed review of the risks to which it was exposed. The trustees monitor their risks at their regular meetings and review the overall risks annually. As part of this process the trustees have implemented a risk management strategy which comprises:
- annual review of the risks which the charity may face;
- the establishment of systems and procedures to mitigate those risks identified; and
- the implementation of procedures designed to minimise any potential impact on the charity should any of these risks materialise.
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## **THE CHARING CROSS CENTRE TRUSTEES’ REPORT (Continued)**
**------------------------------------------------------------------------------------------------------------------------------**
**-------------------------------------**
## **Employee involvement and employment of the disabled**
Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management.
The charity has implemented a number of detailed policies in relation to all aspects of personnel matters including:
- Equal Opportunities policy
- Health & Safety policy
In accordance with the charity’s equal opportunities policy, the charity has long established fair employment practices in the recruitment, selection, retention and training of disabled staff. Full details of these policies are available from the charity’s offices.
## **Accountants**
A resolution proposing that Hines Harvey Woods Limited be re-appointed as accountants of the charity will be put to the Annual General Meeting.
This report was approved by the Board on 1 July 2022
**Mr D Ford** (Chair)
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**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF THE CHARING CROSS CENTRE**
We report on the accounts of The Charing Cross Centre for the year ended 31 March 2022 set out on pages 6 to 13.
## **Respective responsibilities of trustees and independent examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- to state whether particular matters have come to my attention
## **Basis of independent examiner’s statement**
Our examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with our examination, no matter has come to our attention (other than that disclosed below):
(1) which gives us reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 386 of the 2011 Charities Act;
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
- (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Hines Harvey Woods Limited Queens Head House The Street Acle Norwich NR13 3DY**
Date: 14 July 2022
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## **THE CHARING CROSS CENTRE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022**
|**2022**
**Unrestricted**
**Restricted**
**Total**
**general fund**
**fund**
**funds**
**£**
**£**
**£**
**Incoming resources**
Room hire
59,829
-
59,829
Ofce rent
51,823
-
51,823
Council grants
13,200
-
13,200
Coronavirus Job Retention Scheme
12,171
-
12,171
Bank interest
74
-
74
Catering services
260
-
260
Ofce cleaning
104
-
104
Donations
126
-
126
**Total incoming resources available for**
**charitable purposes**
137,587
-
137,587
**Resources expended (note 4)**
**Governance**
4,181
-
4,181
**Charitable activities**
102,532
1,000
103,532
**Total resources expended**
**106,713**
**1,000**
**107,713**
**Net incoming / (outgoing) resources for the year**30,874
(1,000)
29,874
**Unrealised market value adjustment**
**on investment assets**
**14,046**
**-**
**14,046**
44,920
(1,000)
43,920
**Fund balance brought forward 1st April 2021**374,520
178,000
552,520
**Fund balance carried forward 31st March2022**419,440
177,000
596,440
The unrestricted general fund is made up as follows:-
**Designated funds** -
Purchase of property
73,265
-
12 months charitable expenditure
105,000
-
Provision for major property repairs
135,000
313,265
**General fund**
106,175
419,440|**2021**
**Total**
**funds**
**£**
7,201
42,891
39,857
21,669
279
15
208
242|
|---|---|
||112,362|
||4,027
92,851|
||**96,878**|
||15,484
**46,852**|
||62,336
490,184|
||552,520|
|||
|
**General fund**||
|||
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## **THE CHARING CROSS CENTRE BALANCE SHEET AT 31ST MARCH 2022**
|**Notes**
**Fixed assets**
Tangible fxed assets
5
Investments
6
**Current assets**
Debtors
7
Cash at bank and in hand
**Liabilities:**amounts falling due within
one year
8
**Net assets**
**Funds**
**Restricted funds:**
9
**Unrestricted funds:**
10
**Total funds**(page 6)|**2022**
**£**
**£**
250,306
193,949
444,255
22,437
133,835
156,272
4,087
152,185
596,440
177,000
419,440
596,440||**2021**
**£**
**£**
251,716
179,903
431,619
2,767
121,916
124,683
3,782
120,901
552,520
178,000
374,520
552,520|**2021**
**£**
**£**
251,716
179,903
431,619
2,767
121,916
124,683
3,782
120,901
552,520
178,000
374,520
552,520|
|---|---|---|---|---|
||||||
||||||
|||||178,000
374,520
552,520|
Approved by the Board of Trustees on 14 July 2022 and signed on its behalf by:
**Mr P Hunt** (Treasurer)
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