CrossReach Community Connections
Latest income
£130k
Latest spending
£130k
Accounts read
FY2024
Financial health, per FY2024 accounts
The accounts state that the charity had no income or expenditure other than the receipt and distribution of grant funding, resulting in a net surplus of zero. The charity holds no assets or liabilities and maintains no cash balances at the end of the year. The trustees report that reserves are not considered necessary due to the charity's pass-through funding model and indemnification by CrossReach.
What the accounts disclose
Reserves position: below the charity's own stated policy
“The SCIO has no employees and no assets. It receives grants and passes them onto CrossReach. The Trustees therefore do not believe it is necessary for the SCIO to have any reserves.” — page 3
Per FY2024 accounts as filed with OSCR.
Related-party transaction: The SCIO passes grants on to CrossReach under the same terms and conditions as apply to the initial award to the SCIO. There is a signed agreement between CrossReach and the SCIO covering the transfer of grants.
“As the Trustees of the SCIO are also board members of CrossReach, the two entities are related parties. The SCIO passes grants on to CrossReach under the same terms and conditions as apply to the initial award to the SCIO. There is a signed agreement between CrossReach and the SCIO covering the transfer of grants.” — page 6
Per FY2024 accounts as filed with OSCR.