CROW - Coventry Recycling of Waste - Charities report - 18.1
CROW - Coventry Recycling of Waste - Charities report - 18.1
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 December 2017 |
| for |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Notes to the Financial Statements | 9 to 14 |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Report of the Trustees |
| for the Year Ended 31 December 2017 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial |
| statements of the charity for the year ended 31 December 2017. The trustees have adopted the provisions of 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 2015). |
| The trustees have complied with their duty in Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the |
| Charity Commission. |
| This report is prepared in accordance with the small company regime, Section 419(2) of the Companies Act 2006. |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The objects of the charity are to promote, using the medium of recycling of waste materials, the education, training, employment and |
| support, especially though not exclusively, of adults with disabilities and learning difficulties. To achieve this CROW provides |
| supported work experience, accredited training and tuition for adults with disabilities and learning difficulties at a community-based |
| recycling centre. |
| Using waste materials such as drink cans, office grade paper, clothes and other recyclable materials donated by companies, voluntary |
| groups and the public, supervised training in basic processing and warehousing skills is made available to those people disadvantaged |
| in the workplace. |
| Significant activities |
| Waste Recycling |
| Collection and processing of existing materials continues with a slight decline in throughput. Confidential document shredding and the |
| resulting bales of paper has significantly reduced during the year resulting in reliance upon donations and grants to continue further |
| development of this market. In October 2014, Coventry City Council went paperless and therefore had no need for the charity to |
| continue providing a confidential document shredding service hence the decline in throughput. |
| Training Contracts |
| Training contracts with Community Learning Disabilities Team (CLDT) and Coventry City Council have been terminated but CROW |
| has continued to work with the people placed. CROW continues to work with voluntary agencies to provide work/training placements |
| either on a long or short-term basis. |
| Overview |
| The actions taken by Coventry City Council in October 2014 have considerable financial implications for the charity. Existing and new |
| business customers continue to use the charity's services, with new customers are actively being sought. |
| Public benefit |
| The charities' activities, as described in this Trustees Report, explain how they are of public benefit. The trustees confirm that they |
| comply with the duty in section 4 of the Charities Act 2011 to have due regard to the general guidance by the Charity Commission on |
| public benefit. |
| Volunteers |
| There is an established and approved Volunteer Policy within the charity to ensure best practise and safeguards for volunteers and |
| service users. |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Report of the Trustees |
| for the Year Ended 31 December 2017 |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| CROW continues to work with community groups to save cans for recycling . |
| In May 2012 the Scrapstore scheme was launched at CROW comprising a 'treasure trove' of materials suitable for arts and crafts |
| activities. The Scrapstore is open to schools, community groups and individuals who engage in art and crafts, and is a first for |
| Coventry and is proving to be a popular venue. |
| During the current year the charity received a significant donation from Micropathology Limited to enable CROW to continue the |
| work supporting disadvantaged people. |
| CROW Staff and volunteers are committed to providing the same levels of support to the young people and adults placed at CROW. |
| The literacy and numeracy support is no longer available but general training in the workplace continues. |
| In previous years, the main growth area proved to be Confidential Shredding Service with both existing and new customers providing |
| significant volumes of work. Funding was secured through grant aid to purchase a refurbished shredder/baler to increase efficiency and |
| to cope with future growth. |
| FINANCIAL REVIEW |
| Principal funding sources |
| The charity has continued to provide a collection and recycling service to the local business community for which it charges . During |
| 2017 CROW secured donations and grants amounting to £48,910 (2016 - £41,357) from local and national sources to set up new |
| initiatives and for general purposes. These donations and grants include a generous donation from Micropathology Limited which |
| amounted to a substantial element of the charities income . |
| Reserves policy |
| The management committee has examined the charities requirement for reserves in light of the main aims of the organisation. It has |
| established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be |
| 6-12 months of the expenditure. In both the current and previous period, this target has not been met, with the net reserves proving |
| insufficient to cover 2 month's expenditure of the charity. The reserves are needed to meet the working capital requirements of the |
| charity and the management committee are confident that they would be able to continue with the current activities of the charity, |
| despite the charities continued reliance upon donations and grants. At the end of 2017, the bank balance was sufficient to cover |
| approx 9 months expenditure. |
| FUTURE PLANS |
| CROW aims to continue to offer opportunities for people with learning difficulties to increase their confidence and skills in a |
| supportive working environment. |
| By seeking new and diverse business opportunities, together with exploring alternative funding sources and with close financial |
| management, it is envisaged that CROW will remain a viable commercial business, continuing the aims and objectives of the charity. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as |
| defined by the Companies Act 2006. |
| Recruitment and appointment of trustees |
| The Directors of the company are also charity trustees for the purposes of charity law and under the company's articles are known as |
| Members of the management committee. The Memorandum and Articles of Association determine the number, election procedure and |
| period of office in which they can serve. |
| Organisational structure |
| A board of trustees of up to 13 members, who meet regularly, administer the charity. A manager, appointed by the trustees, is |
| responsible for the day to day operations of the charity. |
| Monthly meetings are held with the centre manager and warehouse manager. |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Report of the Trustees |
| for the Year Ended 31 December 2017 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Induction and training of new trustees |
| The trustees are generally familiar with the practical work of the charity and are given associated documents to pursue an appointment. |
| From the outset, trustees are briefed by the committee and the managing trustee to give an overview of the charity, the role of the |
| trustees and related information. |
| Risk management |
| The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place |
| to provide reasonable assurance against fraud and error. The trustees have conducted a review of the major risks to which the charity is |
| exposed and systems have been established to mitigate those risks. |
| Significant external risks to funding are being reduced by the diversification of its activities, however the charity is reliant upon |
| continued donations and grant receipts. Internal risks are minimised by the implementation of procedures for authorisation of all |
| transactions and projects to ensure consistent quality of delivery for all operational aspects of the charity These procedures are |
| periodically reviewed to ensure that they still meet the needs of the charity. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Director |
| Director |
| Director |
| Director |
| Company Secretary |
| Independent examiner |
| Leigh Christou Ltd |
| Chartered Certified Accountants |
| Binley Road |
| Coventry |
| CV3 1JN |
| Other names |
| The registered name of the charity is as disclosed in the heading of the financial statements. The charity is also known by the following |
| names: |
| C.R.O.W |
| CROW Recycling |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Report of the Trustees |
| for the Year Ended 31 December 2017 |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Independent examiner's report to the trustees of CROW - Coventry Recycling of Waste (Limited by Guarantee) ('the |
| Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2017. |
| Responsibilities and basis of report |
| As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
| Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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: |
| 1. | accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or |
| 2. | the accounts do not accord with those records; or |
| 3. | the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or |
| 4. | the accounts 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 accounts to be reached |
| Mr C A Christou |
| FCCA MAE |
| Leigh Christou Ltd |
| Chartered Certified Accountants |
| Leofric House |
| Binley Road |
| Coventry |
| CV3 1JN |
| Date: ............................................. |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Statement of Financial Activities |
| for the Year Ended 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Unrestricted fund |
Restricted funds |
Total funds |
Total funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 181,599 |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Balance Sheet |
| At 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Unrestricted fund |
Restricted funds |
Total funds |
Total funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Debtors | 9 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 11 |
| Unrestricted funds | 189,275 | 181,599 |
| Restricted funds | - |
| TOTAL FUNDS | 181,599 |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Balance Sheet - continued |
| At 31 December 2017 |
| The charitable company is entitled to exemption from audit under |
| Section 477 of the Companies Act 2006 for the year ended 31 December 2017. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in |
| accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| These financial statements have been prepared in accordance with the |
| special provisions of Part 15 of the Companies Act 2006 relating to |
| charitable small companies. |
| The financial statements were approved by the Board of Trustees on |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements - going concern |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in |
| accordance with the Charities SORP (FRS 102) '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 2015)', Financial Reporting Standard 102 'The Financial Reporting |
| Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been |
| prepared under the historical cost convention. |
| The charity has become increasingly reliant upon organisations providing donations and grant funding to continue to meet its |
| day to day working capital requirements. The recurrence of such generosity from both local and national organisations cannot |
| be guaranteed and the charity has no firm commitment of funding from any significant donor or grant provider. The charity's |
| balance sheet largely consists of tangible fixed assets which are not readily convertible into working capital. The charity's |
| reserves policy has been met this year. |
| The Trustees have continue discussions with a number of organisations, with a view to providing working capital, either on a |
| gifted or loan basis, in order to alleviate the strain on the charity's cashflow, this has proved successful with an increase in |
| donations received. The Trustees therefore believe it is appropriate for the financial statements to be prepared on a going |
| concern basis. The financial statements do not include any adjustments that would result if the charity were unable to continue |
| as a going concern. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable |
| that the income will be received and the amount can be measured reliably. |
| Expenditure |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that |
| expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation |
| can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that |
| aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been |
| allocated to activities on a basis consistent with the use of resources. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Long leasehold |
| Plant and machinery |
| Fixtures and fittings |
| Motor vehicles |
| Computer equipment |
| All fixed assets are stated at cost. Each purchase is considered on its merits as to whether it is a fixed asset, subject to a |
| minimum of £100. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when |
| specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 2. | OTHER TRADING ACTIVITIES |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Fundraising events |
| 3. | INVESTMENT INCOME |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Deposit account interest |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Depreciation - owned assets |
| Deficit\(surplus) on disposal of fixed asset | ( |
) |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| No remuneration was paid or payable for the year to any trustee or to any person known to be connected with them directly or |
| indirectly out of the funds of the charity, |
| Trustees' expenses |
| There were no Trustees' expenses paid during the year ended 31 December 2017 nor for the year ended 31 December 2016. |
| 6. | STAFF COSTS |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Wages and salaries |
| The average monthly number of employees during the year was as follows: |
| 31.12.17 | 31.12.16 |
| Administrative staff | 2 | 2 |
| No employees received emoluments in excess of £60,000. |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted fund |
Restricted funds |
Total funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Other trading activities |
| Investment income |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
| Unrestricted fund |
Restricted funds |
Total funds |
| £ | £ | £ |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 165,102 | - | 165,102 |
| TOTAL FUNDS CARRIED FORWARD | 181,599 | - | 181,599 |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 8. | TANGIBLE FIXED ASSETS |
Long leasehold |
Plant and machinery |
Fixtures and fittings |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
Motor vehicles |
Computer equipment |
Totals |
| £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 1,524 | 2,061 |
| Other creditors |
| Wages creditor | 499 | - |
| Accruals and deferred income |
| 11. | MOVEMENT IN FUNDS |
At 1.1.17 |
Net movement in funds |
At 31.12.17 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 181,599 | 7,676 | 189,275 |
| TOTAL FUNDS | 7,676 | 189,275 |
| Net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 79,174 | (71,498 | ) | 7,676 |
| Restricted funds |
| Baler | 796 | (796 | ) | - |
| TOTAL FUNDS | ( |
) | 7,676 |
| CROW - Coventry Recycling of Waste |
| (Limited by Guarantee) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 11. | MOVEMENT IN FUNDS - continued |
| Comparatives for movement in funds |
At 1.1.16 |
Net movement in funds |
At 31.12.16 |
| £ | £ | £ |
| Unrestricted Funds |
| General fund | 165,102 | 16,497 | 181,599 |
| TOTAL FUNDS | 165,102 | 16,497 | 181,599 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 73,380 | (56,883 | ) | 16,497 |
| Restricted funds |
| Baler | 796 | (796 | ) | - |
| TOTAL FUNDS | 74,176 | (57,679 | ) | 16,497 |
| 12. | RELATED PARTY DISCLOSURES |
| Included within other creditors is an amount of £6,000 (2016 - £6,000) in respect of an loan due to Mrs B Cowling the spouse |
| of a former trustee, this loan is interest free with no set dates for repayment. |
| 13. | FUNDS |
| The Charity has two funds, Unrestricted Fund, which the Trustees are free to use in accordance with the charitable objectives |
| as set out in the deed of trust and the Restricted Fund which can only be used to fund the specific projects undertaken by the |
| Charity to generate income, which the Trustees can then use in accordance with the charitable objectives set out in the deed of |
| trust. |
| The Restricted Fund comprises an investment in a shredder baler for the shredding of confidential documents resulting in |
| income generated from the sale of bales of paper which has been recognised in line with the depreciation on the asset. |