Registered nvmber.. 02782699 Chority number.. 1017020 The Gulld of St Mory's Centre Lichfield Trustees. Report ond Financiol Siotemenis For the yeor ended 31 December 2024 JDAINS
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The Guild of St Mary's Centre Lichfield (A company limited by guarantee) Contents Page Reference ond Administrotive Detoils of the Company. its Trustees and Advisers Trustees, Report Independent Ex0mine5 Report Consolidoted Statement of Financlol Actlvities 14 Consolidated Balonce Sheet Compony Bolonce Sheet 17-18 Consolidated Statement of Cosh Flow5 19 Notes to the Finoncial Statements 20.44
The Guild of St Mary's Centre Lichfield (A compony limited by guorontee) Aeference and Administrative Details of the Company. its Trustees and Advisers For the yeor ended 51 December 2024 Trustees Mr N G Sedgwick. Choir Mr C P Ablitt Mr D N Armour Mr B J Bircholl (resigned ?5 Januory 2024) Mr M J Gorf ielo Or J D Jomes Mr S R Jomes Mrs S L Love-Wi150n MrABSimg Mrs S Woldron Mr A F Smith (oppointed 16 September 2024) Mrs D J McGregor (oopointed 16 September 2024) Company registered number 02782699 Charity registered number 1017020 Registered office St Mory's Centre Morkel Squore Lich.fiela Stoffordshire WS13 6LG Company secretory Mr A B S".ms Accountants Doins Audit Limited 2 chomber.oin Square Parodise Circus 8irminghom B3 3AX Poge 1
The Guild of St Mory's Centre Lichfield (A compony limited by guorantee) Trustees, report For the yeor ended 31 December 2024 The Trustees present their onnuol report loge.her with the financial stotements of the componu for the yeor 1 Jonuory 2024 to 31 December 2024. The Annuo,. report serves the purposes of both o Trustees, report ond o directors, report under compony low. The I ruslees conf irm thol the Annual report ond finoncio,. stotementg of the choritable compony comply with the current 5totutory requirements, the reqJirements of the choriloble company's governing document and the provisions of the Stotemenl of Recommended Practice (SORP) applicoble to charities preparing their accounts In occordonce with the finonciol Reporting Stondord opplicoble in the LIK and Republic of Irelond (FRS102) (effective 1 Jonuory 2019). Since the group ond the compony qualify os smoll under section 383 of the Componies Act 2006, the Group strotegi report reqLJired of medium ond lorge componies under the Componies Act 2006 (Strotegic Report ond Directors, Aeport) Regu',otions 2015 has been omilted. Objertives and octivities o. Policies and objectives The compony Is registered under the Componies Act 2006 os o Pr.vate Compony Limited by Gvor(Jntee ond not hoving a shore copitol. It is regislei.ed os o chor,'ly with the Charity Commission. Its objects. for the yeor Under review. ore set out in the Article5 of Association dated 18th Jonuory 2018. The oiincipol obiecis and octivities o! the chority in the period under review were.. The relief of the oged ond infirm generolly. Tl)e generol benefit of the public I"esideni in ond visiting the City of Lichfield ond Its neighbourhood in such manner os moy be choriloble. The odvoncemep,t of educotion of the public. For such choritable purposes os tne Guild in their obsolute disci-etion ihink fit. In settpng objective5 ond planning .or octivities. the Trustees hove given due considerotion to general guidonce published by the ChorIt Commission reloting to public benefit. including the guidance 'Public benefit." running o chorily (PB2)' b. Moin actlvities vndertaken to further the company's purpose5 for the public benefit The Trustees frequently review the octivities of the chority lo ensure that they continue :o reflect the objectives ond oims of the chorily. In corrying out this review the Trustees hove con5idereo the Chority Commission's genero, guidonce on public benefit ard is solisfied that the objectives ond purpose of the charity are in line with this requirement. Poge 2
The Gvild of St Mary's Centre Lichfield (A company limited by guarantee) Trustees, report (continued) For the year ended 31 December 2024 ObJectives ond activitles (continued) c. Volunteers 2024 hos seen o significant growth in ihe number of volunteers who work with us. We now hove over 40 regular volunteers supporting our front of house octivities os well os volunteering in the coffee shop. gallery ond Little Shop. Their support is Involuoble. and we *honk ;hem all for Iheir conliyved ond dedicoled support of the Hub ot St Mory's. We remain incredibly fortunote tnot five of our volunteers continue to toke on key roles ot The Hub which is a major boost to our activities. We ore m05t grateful for their continuing suppori ond extro commitment to the work of the Hub.. Jill Taylor - PR ond Morketing Support Jvlia Boden - Volunteer Co-ordinotor ond Hub Little Shop Monager Douglas Armour - Gollery Curotor Supported by.. Gill Stockdole Silver5milh ond Treosury Curotor Jono Ootes - H.slory Adviser ond Photogrophic Archive Curolor Achievements and performonce o. Review of octivities Overview We continued to show excellerit growth in 2024, increosing the numbe" of theotre ond music shows 08 well os Increosing coffee shop soles significontl J, Our excellent growth across the whole organisalion is a huge ochievement. especiolly considering our limited budget onci smoll team of permonent sloff. Mony grossroots music and hospitality vep.ues ore closing ocross the UK so we should be Incredibly proud to be in such o strong position as we reoch our five-yeor milestone - all down to the hord work, creolivjt, ond dedicolion of the omozing Hub teom. The Hub in-house morketing team hove gone from strength to strength this yeor resulting in higher ticket 501es ond engogement. Signific(JYtly. by the end of the year. we were designing ond producing all our f lyers ond posters os well os the Spring 2025 brochure In-house, moking cost sovings and slreomlining processes. Alongside our theotre. gollery and coffee shop we continue to engoge wit4 the local community. supported by our new Community Engogemenl Officer so we are reaching more group5 and Individuols than ever before. Poge 3
The Guild of St Mory's Centre Lichfield (A company limlted by guarontee) Trustees, report (Continved) For the year ended 31 December 2024 Achlevements and performance (continued) We continue to work to our Diversity. Inclusivity and Equolily Plon, ensuring that we continue to program a diverse ond eclectic vorieiy of shows to ividen our oudience oppeol ond increose our reoch in the communiiy. This year. staff hove received Iroining In mentor heolth oworene55, unconscious bios and working with visuolly impaired customers. Stoffing hos been chollenging during 2024 with o few personnel chonges. bvt we end the yeor strengthened with the oppointment of o very experienced. new Coffee Shop & Bar Monoger who we ore sure will lake us to the next level os we monoge the vnprecedented growth we ore seeing. We continue to work hard io expond our Dusine55 development ond ne:working activities lo build strong and losting relationships with locol businesses. choril'es ond Councils. This includes our CEO si*tiig on the working group for Lichfield's Purple Flog StQiUS (sign..fying a sole ond vibront nighttime economy) os well 05 beiyg on active participant in the Visitor Economy Network (VEN). Greater Birminghom Chomber of Commerce ond Lich.field Chomber of Trode & Commerce. During 2024 we secured the :otol omounl required to renovote the Tower. Bells ond Clock raising just over £75.000 from HS2, Pilgr.m Trust. Conduit Londs. Swinfen Broun Choritable Trust ond o CommJnily Interest Levy gront from Lichfield City Council. From Lichfield District Council we have been aworded o Voluntary & Community Sector Gront (VCS) of £104 000 over S uears to support the work of our Community Er.gogement Officer, ottroct hord to reoch visitors through both. theotre/music progromming ond gallery exhibitiois. and to recruit. tro'n ord Support our volunteers We olso received voluoble corpoi ote spoisorship dJring :he year. with four locol compoi)ies sponsoi.lng a voriety of shows os wel;. os our Summer Exhibi:ion 154321Fobl) BHB Architects. CT Plonning. Pegosus Lichfield Bonds ond Pegosus Planning Gi'oup Ltd PerformingArts Programme We held o total of 103 events iii 2024 and occupancy is holding steody ot over 70°A on overage across the yeor. Ticket soles continue to show a strong upword Irojectory, so we enter 2025 filled with confidence for this to continue. Ou.. moiling list (o key tool in morketing our shows) hos grown io over 6.000 individuols - o substontiol increose over the last 12 months. We are developing o cleor strotegy for progromming continuing to offer an eclectic ronge of events bul distributing big-selling snows to quieter nights. giving us spoce to prioritise 'big bor events on key weekends. Audience development is progressing os we ore beginning to get to know our oudiences ond see common irends which aid successful progromming. Our relationship with booking ogents Is developing. os more and more ore hearing oboul our venue. and we are londing bigger and better artists as they tour the UK - for exomple. booking Bernord Butler who sold out in 36 hours wos a big coup for 2024. Alongside these cu',1 figures. our hard-hitting theotre oudience Is growing. with two successful shows by Red Ladder Theotre Company in 2024 (Sonctuaru and Were Nor Going Sock) Page 4
The Guild of St Mary's Centre Lichfield (A Company limlted by guorontee) Trvstees, report (contlnued) For the year ended 31 December 2024 Achievements and performance (continued) The Alter Comedy Club, Coborel and Sunday Jaz2 sess'ons continue lo be very well ottended throughout the yeor ond our newest oddition lo our regulor progromme, Sundoy Acoustic Lounge hos gone from sirengih to strength in 2024 introducing up ond coming locol singers mixed with professionol singers ond musicions. We programm.ed 60s Seoson to tie in with ovr 54321FABI Exhibition ond hod sell oJt performonces from tributes to The Doors ond Joni Mitchell and we ore looking forwoi"d lo 90s Seoson in 2025. The Hub oims to pul orn aflordoble slows for young fomilles every seoson ond we were privileged to host five omazing shows ocross 2024 aimed ot entertoining bobies. loddlers ond older children including two performonces f rom locol String quortet Toscona String5 Wltn o bollet doncer os well os puppet shows. Out of the Hot ond Wheres Mrs Lodybird A continuing key oim of The Hub is to sJpport locol ortisls. ond mony shows of 2024 were performed ond produced by homegrown talent. Our Doy af Donce returned. ran by Domn Fine Dance. which was o fontostic celeDrotion of inlergenei'otior,ol donce octivilies ond performoyce. Locol bonds were given o plotform in our New SoLJnds nights. produced by local ort15t, Alex Ohm.. locol covi)Iry artist Soroh Riches lounched her tr,bute to Olivia Newton John ond Lydio Roe. not only returned with her John Rutler Ernse.bIe. but Introduced tlie Hub io her jozz quartet os port of our Sunday Jozz events. 2024 sow the introduction ol Movies with Wine evenings. orgonised ond compered by midlands bosed. The Wine Events Compony. We ron thr.ee sell out evenings. reoching o new oudience for the Hub ond plon to moke these o regulor fixture going forward. Gollery & Heritoge OLJr curated gollery space continues to house disploys by various locol ortists ond photographers ond we are now host to on onnuol mo•th-long exhibilion Lichfield Comero Club Our big (free) exhib'"tion for 2024 wos 54321FABI The Art of Supermorionotion on exhibition of oi'iginoi puppets. ort. memorabilio ond models froffj the TV shows of Gerry ond Syivio Anderson. This sow visitor figures hil on oll-tirr..e high. in excess of 12.000. ond ottendees from Jopor), Canado. Oenmork ond oll over the JK. Earlier in the yeor, we were incredibly privileged to h.ost Morc Dovenont's powerful and moving photography exhibition, Oulsideis _ A Journey through Homelessness'whbch olso led to colloboroiions with locol chorities supporting those at risK of homelessnes5. abuse ond menlol illness (including Pothwoy Project. Agdy's May Club ond Lichfield Foodbonk). The Tower renovaiion project is progressing well with the Clock now fully operotior)al, self-winding ond striking on the hourl The Spire 'windows' hove been fixed to keep out the pigeons anu o full cleon hos been corried out ready for the remoining work to be carried out in ear',y 2025. Community ACt/tieS The oppointment of Hoyley Gilliom lo Community Engogement Officer In April 2024 has enobled us to build deeper ties with the local community and extend the number of groups ond individuols who we ore oble to support. We continue to run 'community doy. on o Mondoy when we host Boby Bounce & Rhume. Over-60s Dance and Yogo with our Hub Inspire Choir meeting on Ttyesdoys os well os holding two concerts o yeor in the venue. Poge 5
The Guild of St Mary's Centre Lichfield (A company Ilmited by gvorantee) Trustees. report (continued) For the year ended 51 December 2024 Achievements and performance (contlnued) Regular meetups ot the Hub now Include. the Ukroine Community Group. 8, AST (Burntwoool & Lichfield Autism Support Together) parent oncl carer meelup. Oiobetes UK - polient network group ond RNIB - Inspire Peer Support Group. SAAS (Stoffordshire Adult Autistic Society) continue to meet up socially every mop.doy ond Friendly Foces meet up to chat ond ploy boord gomes every Thursdoy. Our newest weekly group. in portnership with Lichfield Refugee Aid. English Conversotion Club offers o frièndly ond reloxed setting for prattising English conver50tion skills, We hove mode strong links with o number of schools ond locol charities throughout the yeor with events including our second pop-up community doy for Stoffoi-dshire Yi etwork for Mental Heolth ond hosting Groce Cares "Pimp M . Ride" exhibition entries and lounch evening. Free fomily croft oclivilies ore rbn every holidoy ond the children's ploy oreo In the coffee shop continues lo offer o sofe ond welcoming environment. b. Future Developments We continue to develop ovr fundraising ond sponsorship octivity to enoble us to do more community engagement work ond lo strengiheq the organisation moving forward. We ore grateful for" the continuing gron.t support of Lichfield Oistrict and Lichfield cit Councils (vio CIL and UKSPF funding pots) and ore continuing to opply to Arts Council Englond for o project gront. In the first holf of 2025 we will complete the renovotion works to reopen the Tower for tours, as well os compleie the Bells repoirs SO thot the Bel., Ringin9 Leorning Centre con be louncb,ed. ond o +eam of locol beliringers will bè ringin9 the be,'Is of Sl Mory s ogoinl Hopefully Ih""5 wil.. ottroct o new audience inio Ile Hub. and we will continue to reoch those who do not normolly engoge w."th OD arts or herit(Jge venue. We will build on our successful progromming. following on updated Equolity. Oiversity ond Inclusivity Plan. to deliver on inclusive, eclectic. orls ond exhibition progromme thot seis us oport f.. om olhei" orts organisotions in the City and wlder oreo. Diverse income streoms ond being seen os o 'communily hub, at the heort of ttye City remain key to the Hub's growth ond development. as well os the people who moke LJP odr amozing tea-. wh.ether they be poid or volvnteers. As such, we ore In on excellent place lo continue moving forword into the next five yeors Poge 6
The Guild of St Mory's Centre Lichfield (A company limited by guarontee) Trustees. report (continved) For the year ended 51 December 2024 Financial review a. Going concern After moking oppropriote enquiries. the Trustees hove o reasonable expectot,on thot the company has adequote resources to continue in operationol existence for the foreseeoDle fblure. For this reoson we continue to odopl the going concern bosis in preporing the finonciol statements. The Group hos been operoting o reosonobly ful.. progromme. The finances of the Grovp hove been sustoined by librory rerTrtol income. coffee shop income. performing arts ticket sales, gi"onts. corporo:e Sponsorship and donotions. The Trustees believe the Group hos the ability :o meet Iiobi.ities os +hey fall due ond opera:e within its current porometers whilst fulfilling charitable objectives b. Overview The charity s finonciol posilion is set out in ;he Siotement of Finonciol Activities, the Bolonce Sheet. tne Statement of Cosh Flows ond accomponying notes. Totol In,come for 2024 wos £537.816 (2023.. £431.657). For 2024. the moin sovrces of Income were Lit)rory rentol. gronts & donotions. ortistic progromme. coffee shop ond bar income old lettings Income. in 2024, the Group received gront income support totolling £74.605 (2023.. £47,',03) from *he government ond other support schemes. Expenditure for 2024 of £611.387 C2023". £514.071) includes depreciotion of £69,700 (2023." £69.700) in relation to the proportion of the 2018 building project for which the funding (gropls and donotiogs) wos recognised as income in prior yeors. Totol cosl expendilure. including copitol expenoiture. omounted to £553.7A8 (2023.. £458.118) Ail 9ronts received or receivoDle in 2024 hove been accounted foi os income. but some of the restricted yi Jnts/donolions received have not yet been spent lotailing £50.462 (2025. £36.989) The spend will oppeor os expenditure In 20£- beyond Funding (amounting lo £1,352,377) for the building redevelopment project completed in December 2018 wos recognised as income ir) 2016. 2017 ond 2018 ond poid for tkne mojoi.lly of the bbilding redevelopment project the cost o whiich wos copilalised in fixeo assets. The cost is recognised in expenditvre as depreciolio,g spreading the cost oppeoring in the Consolidoted Statement of Fiyaiciol Activities over o period opprooching 20 yeors. This building renovotlon project (including the librory) expenditure hos been fully funded but the occodnting ireolment results in liming difference between recognising income (yeors 2016 to 2018) ond recognising expenditure (yeors 2018 to 2038). This totol income ond expendi'iure is ultimolely equivolent in aggregote bul the occounting treotment impocts the net income/expenditvre of the Group shown by the periodic Consolidated Statement of Fifjanciol Activities. The lorgesl rTrumbers on the Consolidotèd Bolonce Sheet ore Fixed Assets (moinly reloting lo the 2018 building project) ond Charity Funds (moinly the fvnding received for the building project). Both of these numbers wlll unwind over the period lo 2038. Poge 7
The Guild of St Mary's Centre Lichfield (A compony limited by guarantee) Trustees, report (continved) For the yeor ended 31 December 2024 c. Reserves policy Consolidoled Reserves ond Funds os ot 51 December 2024 omounted to £1,141.050 (2023.. £1,274.621) comprising restricted funds of £50.462 (2023. £36.989) ond unrestricted f ur.ds of £1.090.588 (2023. £1.177.632). The rentol income streom from the libroru provide5 0 stoble finonciol footing for the Guild for the next two plus decodes ond this together with the Income expected f rom ihe octivities of the cafe. visual ond performing orts. letting5 ond events provides opportunity to build the unrestricted reserves over time. The oim .'s to bu,'Id unrestricted designoted builciing repoirs reserves for meeting. or at least contributing lowords, the costs of repoiring ond moinlaining the bu.,Iding os such repoir oryd mointenonce is on obligoiion of the Guild by virtue of the leose for the St Mary'5 Centre building between the Diocese of Lichfield ond ihe Guild. £1.016,999 of fixed ossets less outslonding '.oons ore held in designoted funds now thot tle fixed ossets that represent the funds hove been purch.osed ond the restrictions pertaining to the in"'tiol funding hove therefore been met. Where possible the TrustÈes endeovour to mitigote exposure to both in:ernol ond external risks. d. Materiol investments policy The Articles of Association permit the charity to exerc.se powers of .nvestment ord borrowip,g wlich are consistent with its principol objects ana oclivities. At Ihe yeor end I,e chority only held :he investment in the troding subsicliary. The performance of the investments is monitored on a regulor basis by the Trustees. Poge 8
The Gvild of St Mary's Centre Lichfield (A compony limlted by gvarontee) Trustees. report (continved) For the year ended 51 December 2024 Structure. governance ond monagement Constitvtion The compony ond the group is constitLJted under Articles of Associotion dated 18th Jonuory 2018. The company is registered os a choritable compony limited by 9uorontee ond is a registered chority (numbe". 1017020) b. Methods of appointment or election of Trustees The members of the Guild oppoint the Trustees to corry on Its doy-lo-doy busines5. The moximum number of Trustees permitted by the Articles of Associotion is twelve ond the minimum is tree. The Iiobility of eoch member. in the event of winding up. is limited to £1. Trustees ore identif led from people within the locol community who hove the skills necessory to make o contribution to Ihe rJnping of The hub ond ore oppointed by the existing Trustees for rotificolion ot the next Annuol Generoi by members of the Guild. o., directly uppoinled Dy members of lkne Guild ol the Arnuol Generol Neeling. Meeting None of the Trus:ees held ony beneficiol inlerest in the Issued shore capitol of the subsidiary undertoking ot 1st Jonuory 2024. 31st December 2024 or at ony time during 2024. The Trustees met four times dvring 2024. c. Policies adopted for the induction and troining of Trustees New Trvstees oi"e provided with copies of the governing document, the mosr I'eceni annuol repori. recent minvles oncl o copy of +he Chorily Commission guidonce, "The Essenliol Trustee" as Port of their fomiliarisolion ond induction. d. Pay policy for key management personnel The remunerotion of Senior staff is set ond confirmed by ihe Trustees. e. Related party relationships St. Mary's Centre Lichf.'eld (Shops) Limited is o wholly owned troding 5ubsidiory undertaking, The DIreOr$ of the troding subsidiory ore oppointed by the members of tne Guild ond during 2024 were Williom Fleming and Nicholas Sedgwick. f. Flnoncial risk monogement The Trustees hove ossessed the mojor risks to which the Group ond the compony ore exposed, in porticulor those reloled lo the operotions and finonces of the Group ond the company, and ore sotisfied that systems and procedures are In ploce lo mitigote exposure to the major risks. Poge 9
The Gvild of St Mary's Centre Lichfield (A company limited by guorontee) Trustees, report (continved) For the yeor ended 31 December 2024 Plans for fvture periods We continue to develop our fundraising ond sponsorship octivity to enable us lo do mo'e community engogement work ond to strengthen the orgonisotion moving forword. We look forward to further corporate and Council support in 2025 so Ihot we can expand our tsctivilies ond .mprove our performing arts ond exhibition offerings. In 2025 we hope to complete renovotion worrfs and reopen the Tower for tours ond corry out repairs to the bells so thot they con be rung ogain ocross the Cit¥". Both of which will roise owareness of the Hub and ottroct more visitors both local ond tourists. Diverse income streams remoin key to the Hub s expansion ond survivol. ap.d bosed op. the Increosed income for 2024 we ore confident thot we con continue to grow ond develop obr funding sources os we move forword in; o the f Ljture. Funds held as custodian There are no funds held 05 Custodion. Stotement of Trustees, responsibilities The Trustees (who ore also the direcloi"s of the compony for the purposes o! company law) are responsible for preporing the Trusiees. report ond the finonciol stotements in occordonce with opplicable low and UniLed Kingdom Accounting Stondarcis (United Kingdom Gene,"olly Accepted Accounting Proclice). Compony low requires the Trustees to prepore finoncial stolements for each finonciol yeor. Under compony low. the I rustees must noi opprove the finonciol statements unless they ore Soiisfied ihoi the give o true and foir view ol the stote of offoirs of the Group ond the compony ond 0¢ their Incoming resources ond opplication of resources. including their income ond experditure. for thot period. In preporing these finoncial stolements. the Trustees are requii.ed to.. select 5Ultoble occounting poiicles ond then apply them consi51ently'. observe the methods ond principles of the Charities SORP (FFIS 102).. make judgements ond occouniing estimoles thot ore reosonoble ond pruden;" stote whether opplicoble UK Accounting Stondords (FAS 102) have been followed, subiect to ony moterial deportures disclosed ond explained In the finonciol stolements," prepare the finoncial statements on the going concern bosis unless it is Inopproprioie lo presume thot the Group will continue in business. The Trustees ore responsible for keeping odequole accounting records that ore sufficient to show ond explain the Gro(Jp ond the compagy's trongoctions ona disclose with reosonable occurocy ot ony time the financiol positlon of the Group ond the compony ond enable them io ensure thot the finonciol statements comply with +he Componies Act 2006. They ore olso responsible for sofeguording the assets of the Group ond the compony ond hence for toking reosonable sieps for the prevention and oeteclion of froud ond other irregvlorities. Smoll componies note In preporing this report. the Trustees hove taken advontage of the smoll componies exemptions provided by section 415A of the Componie5 Act 2006. Page 10
The Guild of St Mory's Centre Lichfield (A compony limited by guarontee) Trustees, report {continved) For the yeor endèd 31 December 2024 Approved by order of the members of the boord of Trustees ond signed on their beholf by.. Mr N G Sedgwick Trustee Date.. 23 June 2025 Poge 11
The Guild of St Mary's Centre Lichfield (A company Ilmited by guarantee) Independent Examiner's Report For the year ended 31 December 2024 Independent Examiner's Report to the Trustees of The Gvild of St Mory's Centre Lichfleld ('the Group,) I report to the chority Trustees on my exominolion of the consolidoied finoncial slotements of the Group comprising the The Guild of Sl Mory's Centre Lichfield ('the poi'ent company,) ond ils subsidiory undertakings for the yeor ended 31 December 2024. Aesponsibilitles and Bosis of Report As +he Trustees of the porent compony (ond its directors for the purposes of compony law) you are responsible for the preporotion of :he consolidotecl occounts of the Group in accordonce with the requirements of the Componies Act 2006 ('tne 2006 Act,) Ogd you hove chosen o prepore consolidoted occounts for the Group. You ore sotisfied thot the occounls of both porent compon.y ond th.e Group are not '. equi". ed by either compony or chority low to be oudited ond have chosen Instead to hove on independent exominotion. Hoving satisfied Mse1* thot tkne consolidoted financiol stotements are not required to be addited under Part 16 of the 2006 Act ond ore eligible for independent examinotion. I report in respect of my exominotion of the Group's finonciol slotements corried OJI nder section 152 of the Chorities Act 2011 ('the 2011 Act,). In corrying out my exominotion I hove followed the Directions given bu the Chority Corr.mission undei. section 152(5)(b) of the 2011 Act. An independent exominotion does not involve goihering all the evidence thot woula be required in on oudit ond consequently does not cover oll the motlers Ihot on auditor considers in giving their opinion on the financiol stotements. The plonnin9 ond conduct of on oudit goe5 beyond the limited ossuronce thot on independent exominotion con provide. Consequently l express no option os lo whether +he copgolidoteo finonciol stotements present o 'true ond fair, view opd my report Is limited to those specific matters set out In the independent exominer's statement. Poge 12
The Guild of St Mary's Centre Lichfield (A compony limlted by gvorontee) Independent ExamineS Report (continued) For the year ended 31 December 2024 Independent Exominer's Statement Since the Trustees hove opted to prepore consoiidoted occounls for the Group your exominer must be a member of o bodu Iisled in section 145 of the 2011 Act. I con'.irm thol l am quol'.fied to underloke the exomination because l am o member of the Institute of Chortered Accounlanls In Englond and Woles, which Is one of the listed bodies. I hove completed my examinotior,. I confirm that no motters hove come to my attention in connection with the exominotion giving me cause to believe.. occounting records were not kept in respect of the porent compony and its subsidiories as required by section 586 of the 2006 Act.. or the finonc',ol slotemenls do not accord with those records.. or Ihe finopciol stolements do not comply with the occounting requirements of section 396 of the 2006 Act other thon opy requirement thot the finonciol sloleweqts give o 'trde ond foir, view which is not o motler considered os port o! on independent exominotion." or the finonciol stotements hove not been prepored in occordance with the methods ond principles of the Stotement of Recommended Proctice for occounting gqd reporting by chorities opplicoble to charities preporing their occounts in accordonce with the Figoyciol Reporting Stondord apDlicable in the UK ond Republ.,c of Ireland {FRS 102) I hove no concerns ond hove come ocross no other molters in connection with the examination to which attention should be drown in this report In order. to erable o proper understonding of the occounls to be reached Th15 report is made solely to the compony's Trustees. as o body. In occordonce with Part 4 of the Charities (Accounts ond Reports) Regilotions 2008. wo-. k hos been undertoken so thot I might state lo the compony's Trustees those matters l om required to stote to them in an Independent exominer's report aiid for no other purpose. To the fullest extent permitted by low, I do not occept or ossume responsibility lo onyone other thon the porenl Compon ond the company's Truslees os a body. for m wo.. k or for this report. Signed.. Doted. 23 June 2025 Koren Neilson FCA Doins Audit Limited Birminghom Poge 13
The Guild of St Mory's Centre Lichfield (A company limited by guorontee) Consolidated Stotement of finoneial ortivities (Incorporoting income ond expenditvre account) For the year ended 31 December 2024 Unrestricted funds 2024 Restrlcted funds 2024 Total funds 2024 Toiol funds 2023 Note Income from: Donations ond legacies Choritable activities Other trading octivities Investments 4.637 74.605 79.242 48.209 129.635 129.635 119,640 521,793 321.793 256,782 7.146 7.146 7.006 Totol income 463,211 74.605 537,816 431.637 Expenditure on.. Roising funds Choritable octiv.'Iies.' The Hub 329,458 329.458 288,527 151.097 61,152 212.229 Building redevelopment project 155.844 69,700 69.700 69.700 Totol expenditure 550.255 61.152 611.387 514,071 Net movement in funds (87,044) 13.473 (73.571) (82.434) Reconcillation of fvnds: Tolol Si unds brOght forword Net movement in funds 1,177.632 36,989 1.214.621 1,297,055 17 (87.044) 13.473 (73.571) (82,434) Total fvnds carried forward 1.090.588 50.462 1.141.050 1.214.621 The notes on pages 20 to 44 form port of these f Ip.oncial slalements. Poge 14
The Guild of St Mary's Centre Lichfield (A company limited by guarontee) Reglstered number: 02782699 Consolidoted bolonce sheet As ot 31 December 2024 2024 2023 Note Fixed ossets Tongible ossets Current assets 1,079,555 1,162.794 Stocks 13 6.212 2.317 Oebtors 14 27.298 54,657 Cosh cjt bank ond In hond 21 186.887 194 094 220,397 251.048 Creditors. amourTrts folling due wi.hin one year 15 {107,292) (116.665) Nèt current assets 113.105 114.383 Total aet$ less cvrrent liobilities 1.192.660 1.277.177 Creditors. omovnls falling due ofter more thon one year 16 (51.610) (62,556) Total net assets 1.141.050 1.214 621 Charity funds Fleslricted fund5 17 50,462 36.989 Unrestricted funds 17 1.090,588 1.177.632 Total funds 1.141.050 1.214,621 The compony was entitled to exemption from audit under section 477 of ihe Companies Act 2006. The members hove not required the company to obtain on oudit for the year in question in accordance with section 476 of Componies Aci 2006. The I rustees ocknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records ond preparation of financiol stolements. The finonciol stotements hove been prepared in occordonce with the provisions opplicable lo entities subject to the smoll componies regime. Poge 15
The Guild of St Mary's Centre Lichfield (A compony limited by guarontee) Registered nvmber: 02782699 Consolidated balonce sheet (continued) As ot 31 December 2024 The finonciol stotements were opproved ono outnorised for Issve by the Trustees ond signed on their beholf by.. Mr N G Sedgwlck TrusLee Dote. 23 June 2025 The notes on poges 20 to 44 form pofl of these finoncial stolements. Poge 16
The Gvild of St Mary'5 Centre Lichfield (A compony Ilmited by guorontee) Registered nvmber: 02782699 Compony bolance sheet As at 31 December 2024 2024 2023 Note Fixed assets Tongible assets nvestments 1.079.555 1,162.794 12 100 100 1.079.655 Current ossets 1.162,894 Debtors 14 24.739 32.124 Cash ot bonk oyd In hond 183,645 190.578 208.384 222.702 Creditors.. omounls folling due within one ueor 15 (50.587) (79.210) Net current 055ets 157.797 143,492 Totol ossets less current liabilities 1.237.452 1,306.586 Creditors. amounts folling due ofter more than one yeor 16 {51.610) (62.556) Totol net ossets 1,185,842 1.243.830 Chority funds Restricted fur,ds 47.962 Unrestricted funds 36,989 1.137,880 1,206.841 Total funds 1.185.842 1.243.830 The charity's net movement in funds for the yeor was £(57.988) (2023 - £(66.731)). The compony wos entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain on oudit for the yeor in qtyestion in occordonce w1th section 476 of Componies Act 2006. The Trustees ocknowledge their responsibil."ties for complying with the requirements of the Act with respect lo occounting records ond preparotion of financiol stotements. The finonciol stotemenls have been prepored .'n occordonce with the provisions opplicable to entities subject to the smoli companies regime. Poge 17
The Guild of St Mary's Centre Lichfield (A Company limlted by guarantee) Reglstered number.. 02782699 Compony Statement of financial position (contlnued) As at 31 December 2024 The financiol statements were opproved onci outhorisecj for issue by the Trustees ond signed on their behalf by.. Mr N G Sedgwick Trustee Dale.. 25 June 2025 Poge 18
The Guild of St Mary's Centre Lichfield (A company limited by guarontee) Consolidated statement of cosh flows For the yeor ended 51 December 2024 2024 2023 Note Cash flows f rom operating octivities Net cash provideci by/(used in) operol'"ng Octivities 20 9.746 (23,166) Cash f lows from investing activities ividends. Interests ond rents from investments Proceeds from the sole of tangible . Ixed ossels Purchose of tangible fixed ossets 7.146 7.006 25 (4.490) (32,036) Net cash provided by/(used in) investing activities 2.656 (25.005) Cosh flows from finoncing activities Repoyments of borrowing (19.609) (24 063) Net cosh used in flnoncing octivities (19.609) (24.063) Chonge in cosh and cash eqvivalents in the year (7.207) (72,234) Cosh ond cash equivolents ot ihe beginnin9 of the yeor 194.094 266.328 Cosh and cash equivolents ot the end of the year 21 186,887 194.094 The notes on poges 20 to 44 foi'm port of these finonciol statements Poge 19
The Guild of St Mary's Centre Lichfield (A company Ilmited by guarontee) Notes to the finonciol stotements For the year ended 31 December 2024 Generol informotion The Guild of Sl Mory's Centre Lichfield is o choritoble compony. limited by guorontee ond registered In England ond Woles under the Componies Act 2006. The oddre55 of its registered office is St Mary's Cenlre. Morket Squore. Lichfield, Sloffordsnire. WS13 6LG. The reglstered number of the compony is 02782699 and its registered chorily number is 1017020. Detoils of the primory choriloble objectives and activities ore contoined in the Trustees, Report. Accountlng pollcles 2.1 Basis of preparation of finoncial stotements The finonciol slotements hove been prepared in accordonce with the Charities SORP (FRS 102) Accounting ono Reporting by Chorities.. Stotement of Recommended Proctice opplicoble to charities preparing their occounls in occordonce with the Finonciol Reporring Stondord opp.icoble in the UK ond Republic of Irelond (FRS 102) (effective l Jonuory 2015) ond :he Companies Act 2006. The fip,anciol stotemenls ore presented in the Group's functional currency of GBP (Sterling). They ore presented to the neore5t £. The Guild o, Si Mary's Centre Lichfield meets the definition of a public benefit entity Ljnder FRS 102. Assets old Iiobilities are iniliolly recognised ot historicol cost or tronsaction volue unless otherwise stoted in the relevonl accou,Iting policy. The Consolidated stotement of fiponciol octivities (SOFA) a*d Consolidoled bolayce sheer consolidote Ilie firTronciol stotements of the Group ond its subsidiory undertaking. Tke results of the subsidioi"u are consolidoted on o line by line basis The Group hos token odvontoge of the exemption ollowed under secliop. 408 of the Componies Act 2006 ond hos not presented its own Statement of finonciol octivities in these finoncial statements The income ond expenditure for the yeor deolt with in the Individvol finonciol stotements of tYe charitoble compony showed o deficit of £57,988 (2023 - £66.731) 2.2 Company status The company is a compony limited by" guorontee. The members of the company include the Trustees nomed on page l. In the event of the compon J being wound up, the liobilily in respect of the gvoranlee Is limited to £1 per member of the company. 2.3 Going concern After moking oppropriate enquiries. the Trustees have o reosonoble expectotion thoi the company hos odequate resources to continue In operotionol existence fo". the foreseeoble futvre. For this reoson. they continue to odopt the going concern basis in preporing the f1nanciol stotements. The Group has been operating o reosonobly full progromme. The finances of the Group hove been sustoined by performing orts ond ticket soles, library rentol income. coffee shop income, corporate sponsorship ond gronts ond donotions The Trustees believe the Group hos the obillty to meet liobilities os they foll due ond operote within It5 current porometers whilst fulfilling choritoble objectives. Poge 20
The Guild of St Mary's Centre Lichfield (A company limited by guorantee) Notes to the financial statements For the year ended 31 December 2024 Account5ng policies {continved) 2.4 Income ASI income is recognised op.ce the compony hos entitlement to the income. it is probable that the income wil,, be received oyd the omounl of income receivable con be meosured reliobly. The recognition of income from. legacies is dependent on establishing entitlement. the probobilily of receipt ond the obility to estimate with sufficient occurocy ihe omount receivable. Evidence of entitlemer)t to a legocy exists when the compony hos sufficient evidence that o gift hos been left to them (through knowledge of the existence of o volid will and the deoth of the benefoctor) ond the executor is sotisfied thot ihe property in question will not be required to sotisfy cloims in tD.e estote. Receipt of o legacy musl be recognised when it is proboble that it will be received llnd the fair volue of the omount receivable. which will generolly be the expected cosh amount lo be disiributed to the company. con be relioolg meosured. Grants ore included in the Consolidated stotement of finor.ciol activities on o receivable basis. The bolonce of income received for specific purposes bul Yol exoended during the period Is shown in the re',evont funds on the Boloyce sheet. Whe'e Income is 'eceived in odvonce of entitlement o. receipt. its recogni',ion is deferred ond included ..n creditors os deferred income Where enlillement occurs before income is received. the income is occrued. Gifts in kind donoted for dFStribution ore hncluded at voluation ond recognised os income when they ore distributed to the projects. Gif:s donated for resole ore included os income when they are sold. Where the donoted good Is o fixed osset, It Is meosured at foir volue. unless It is Impracticol to meosure this reliobly, In which cose the cost of ihe item to the donoi" shobld be used. I he gain is I"ecognised os Income from donotions ond o correspop.ding amount is Included in the oppropriole f'xed osset cross and depreciated ovei" the useful economic life ip. occordonce wilh the company's accouniir.g policies. On receipt. donoled professionol services ond focilities are recognised on the bosis of the value of the gift to the comporn which is the omounl il would hove been willing to poy to obtoin services or focilities of equivole*t economic benefit on the open market.. o co'.responding omount is then recognised in expenditure in the period of receipt. 1CoMe tax recoveroble in relation. to donations received under Gift Aid or deeds of covefjant is recognised ot the lime of the donotion. Other income is recognised In the period in which It is receivoble ond to the extent the goods hove been provided or on completion of tb.e service, Poge 21
The Gvild of St Mary's Centre Lichfield (A company limited by guarantee) Notes to the financial stotements For the year ended 51 December 2024 Accounting policies (continued) 2.5 Expenditvre Expenditure is recogn.'sed once there '.s o legol or consiruclive obligation to transfer economic benefit to o third porty. it is proboble :hot a transfer of economic benefits will be required in settleme.qt ond the omoun.I of the obligotion can be meosured reliably. Expenditure is closs,fied by oclivity. The costs of eoch oclivily ore mode up of the totol of direct Costs ond shored costs, including support costs involved in undertoking eoch octivily. Direct costs ottribuloble to o s.ngle octivity are ollocoted directly lo thol octivity. Shored costs which contribute ;o mo'e thon one octivity" ond support costs which ore not ottribvtoble to o single octlvity ore appoi'tioned between those octivilies on. o basis consistent with the use of resources. Central staff costs ore ollocoled on the basis of time spent. and depreciation chorges ollocoted on the portion of the osset's use. Expenditure on roising fvnds Includes oll expenditure incurred Dy the Group to raise funds for Its choritoble purposes ond includes costs of oll fundroising activities events and non-choritoble trading Expenoitui"e on chariloble acilvities is incurred on direct'.y undertoking the activities which ¥ GroL)p's objectives. os well os ony ossocioted support costs . urlher the 2.6 Interest receivable Interegt on funds held on deposit Is .'ncludea when receivoble and the omount con be ryeosured reliably by the Group,. 14is is normolly upon notification of the interest poid or poyable by the Institution with whom tF)e fur.ds ore depositeo. 2.7 Taxotion The compony is considereo to pass the tests set out in Porograph I Schedule 6 of the FInrp Acl 2010 orTrd therefore '"t meets the definition of o choritODle Compon for UK corporolion tox purposes. Accordingly. the compony ..s potenliolly exempt from loxotion in respect of income or copilol goins received within cotegories covered by Chopter 3 Port 11 of the Corporolion Tox Act 2010 or Section 256 0! the Toxa',ion of Chargeable Goins AJ 1992. to the extent thot such income or gains are opplied exclusively lo choritoble purposes. Poge 22
The Guild of St Mary's Centre Lichfield (A compony limited by guorantee) Notes to the flnancial stotements For the year ended 31 December 2024 Accovnting policies (continved) 2.8 Tongible flxed assets ond depreciotion All expenditure on fixed ossels is copitalised. The Heritoge Exhibition assets include o smoll number of donoled articles which have not been valued. These ossets were gifted :o tp.e Exhibi:ion ond os these are unique ond irreploceoble. the Trustees consider thot no valLJe con be ottributed to t4em. Tongible f Ixed ossets are Initially recognised ot cost. After recogn"'tion. under the cost model. tongible fixed ossels ore meosured ot cost less occumuloted depreciotlon op.d any occumuloted Impoirment losses All costs iycvrred to bring o tongible fixed osset into Its intended working cond.'tion should be included in the pieosuremenl of cost. At each reporting dole the compony ossesses whether there Is ony indicotion ol impairment. It SLJch indicotion exists. the recoverable omount of the ossel is de:ermined to be the higher of ils foir volue less costs to sell ond its volue In use. An impoirment loss is recognised where the carrying omount exceeds the recoverable omount. Depreciotior. is charged so as to allocote the cost of tongible fixed osseis less their residuol volue over their estimoted Jseful lives. using the stroight-line method. Depi"eciotion is pi'ovided op. the following boses". Leosehold Improvements The shorter of the useful life of the ieoselold improvemen; or the rerr,0ining term of the lease. stro.'ghi-line sefLil lives up to 10 years. slroight-line Fixtures. fittiygs ond eou",pment 2.9 Investments Investments In subsidiories ore valued ot cost less provis'.on for impai-. ment. 2.10 Stocks Stocks are valued at the lower of cost and net reolisoble value ofter making due allowance for obsolete ond slow-moving stocks. Cost is bosed on the cost of purchose on o first in, first out bosis. 2.11 Debtors Trade ond other debtors ore recognised at the settlement amount ofter ony trode discount offered. Prepoyments ore valued ot the omount prepaid net of ony trode discounts due. 2.12 Cash ot bonk and in hand Cosh ot bonk ond in hond includes cosh ond short-term highly liquid investments with o short moturity of three months or less from the dote of ocquisition or opening of the deposit or similar occovnl. Poge 23
The Guild of St Mory's Centre Lichfield (A compony limited by guorantee) Notes to the finonclol stotements For the year ended 31 December 2024 Accounting policies (continued) 2.15 Liabillties ond provisions Liobilities are recognised when there is on obligotion at the Bolonce sheet dole as o result of o past event, it Is proboble thot O ronsfer of economic benefit will be required In settlemen:. ond the omount of the selllemeni con be estimated reliobly. Liubilities ore recognised ot the omounl thoi the company anticipates It will pay to settle the debt or the omount li hos received os odvon.ced poymenis for the goods or services it must provide. Provisions ore meosured ot the best estimote of the omounts required to settle the obligotion. Where the effect of the time volue of money is material. the provisioy is bosed on the present Voiue of those amounts, discounted ot the pre-tox discount ro'.e thot ref'.ects the risks specific to the liobility The unwinding of the discount Is recognised In the Consolidoled sta:ement of finonciol octivities os o finonce cost. 2.14 Financial instruments The Group only hos finoncial ossets ond finonciol liobi'ities of o kir)d that quolif y as basic financiol Instruments. Bosic finonciol Instruments ore initiolly recognised ot Ironsoction volue ond subsequently meosured ot their settlement volue with 14e exception of bonk loons which ore sJbsequenlly measured at omortised cost using the effective '.nterest me:hod. Basic financial ossets Basic fin.oncial ossets. which include ti'ode ond other receivobles. cosh ond bonk bolonces. ore .'nilioily meosured ot their tronsoclioy price including tror.soction costs ond are subseoueitr. corried ot their omortised cost usiqg lkne effective interest method. less any provision for impairment. unless the cjrrangement constitutes o financing Ironsaction. where the tronsoction is meosured ot the present volve of the future receipts discovnted ol o morkel rote of interest. Discounting is omitted where the effect of discounting is immaieriol. The compon.y's cosh ond cosh equivolerits, Irode ond most other receivobles due with the operoiing cycle foll .nlo this cotegory of finonciol instruments. Financiol liobilities Finoncial Ilobilities ond equity instruments ore clossified according to tne substonce of the conlractuol orrrJngements entered into. An equity instrLJmenls ony contrcc: Ihot evidences a residuol interest in he osseis of the compony after the deduction of all its liobilities. Bosic financiol liobililies. which include trode ond other payobles and o.her loons ore Initially measured ot their tronsaction price ofter tron50Ction costs. When this constitutes o financing tronsoction. whereby the debt instrument is meosured ol the present volue of the future recelpts discounted ot a morket rote of interest. Oiscounting is omilled where the effect of discounting is immoterial. Poge 24
The Guild of st Mory's Centre Lichfield (A company limited by guarontee) Notes to the f Inanciol statements For the year ended 31 December 2024 Accounting policies (continued) 2.14 Financial instruments (continued) Debi instruments ore subsequently carr."ed at the'.r omortised cos1 using the effective interest role method. Trade poyob'es ore obligations :o poy for goods on.d seNices that hove been acquired in the ordinary course of business from suppliers. Trade poyables ore clossified os current liobilities if the poyment is due within one yeor If not. they represent non-current Iiobilities Trode poyobles ore initiolly recognised ot their tronsoction price ond subsequently ore meosured ot amortised cost using the effective Interest method. Discounting is omitted where the effect of discour,ling is immaterial. 2.15 Operating leoses Renlols poid under operoting leases ore carged to the Consoiidoted slotement of finonciol oclivities on o slroight line bosis over the lease term. 2.16 Pensions -. he Group operotes o defined coniribution pension Scheme for Ils employees ond the pension charge represents the omounls poyoble by the Group to th.e fund In respect of the yeor. A defined contribution plon is o pension plon under which the group pays fixed contributions into o seporole enti',y. Once the contributions have been po.'d the gi'oup hos no fdi";her payment obligotions. The conii Ibulions a'-e recognised os on expense Ir the Consolidoied stotement of finoncial octivilies when they fall due Amoun:s not poid ore shown In accruols os o Iiobi'.ity in the Bolance sheet. The assets ot the plan ore held 5epoi"ately from the g.-oJp in independently odministe."ed funds. 2.17 Fund occounting Generol funds ore unreslricle(J funds which ore avoiloble for use at the discretion of the Trustees in furtheronce of the generol objectives of the Group ond which hove not been designoted for other purposes. Designoled fund5 comprise unrestricted funds that have been set aside by the Trustees for parliculor purposes. The oim ond use of eoch designoted fund is set ovt in the fjotes to the finonciol statements, Restricted funds ore fJnds which ore to be used in occordonce with specific restrictions imposed by donors or which hove been roised by the Group for particulor purposes. The costs of raising ond odmini5tering sJch funds ore chor9ed ogoinst the specific f und. The oim ond use o. eoch restricted fund Is set out in the notes to the finonciol stotements. Investment income. 90ins ond losses ore allocoted to the oppropriote fund. Poge 25
The Guild of St Mary'5 Centre Lichfield (A company limited by guarantee) Notes to the financial statements For the yeor ended 31 December 2024 Income from donations ond legacies Unrestritted funds 2024 Aestricted funds 2024 Totol fvnds 2024 Donotions 4,637 4.637 Gronts 74.605 74.605 Totol 2024 4.637 74,605 79.242 For 2024. 0 deloiled Dreokdown of restricted fund ip.come is included within Note 17. Un."eslricted funds 2023 Restricted funds 2023 Total funds 2023 Donotions 1.106 1.106 Gronts 47.103 Toiol 2023 47,103 48.209 Income from charitable activities Unrestricted fund5 2024 Totol funds 2024 Totol funds 2023 Librory rental. events ond iettings 129,635 129.635 119.640 Poge 26
The Guild of St Mary's Centre Lichfield CA compony limited by gvurantee) Notes to the finonciol statements For the year ended 31 December 2024 Income from other trading octivities Income from fundraising events Unrestricted funds 2024 Total funds 2024 Total f unds 2023 Donotions from Members 700 700 785 Income from non choritable troding activities Unrestricted fund5 2024 Totol funds 2024 Totol f unds 2023 Subsidiory s troding income 321,093 321.093 255.997 Income from investments Unrestricted funds 2024 Total funds 2024 Totol f unds 2023 Bonk interest received 7.146 7.146 7.006 Poge 27
The Gvild of St Mary's Centre Lichfield (A compony Ilmited by gtsarontee) Notes to the finonciol statements For the year ended 31 December 2024 Expenditure on roising fvnds Costs of ralsin9 voluntary Income Unrestricted funds 2024 Totol funds 2024 Totol funds 2023 Event and fJndroising cos:s 14,921 15.191 Other trading expenses Tradlng subsidiary 2024 Total funds 2024 Total funds 2023 Performance. events opd cofé - stoff costs Performonce, events ond cofe costs 152.131 152,131 133.831 162.406 162.406 159.505 314.537 314.537 273,336 Analysis of expenditure by octlvities Activities undertaken direttly 2024 Support Costs Total funds 2024 2024 The Hub 194,619 17.610 Building redevelopment project 212.229 69.700 69.700 Total 2024 264,319 17,610 281,929 Poge 28
The Gvild of St Mary's Centre Lichfield (A company limited by guorontee) Notes to the financiol stotements For the yeor ended 31 December 2024 Analysis of expenditure by octivities (continued) The building redevelopmen: project activity is the element of the onnuol depreciotion chorge thoi pertoins to the funded port of tD.e building reyovation completed in December 2018 It is colculated on the basis of deprecioting the funded ossets down to £Nil over 20 yeors (for the leosehold improvements) ond 10 yeors (for the fixfures ond f itlings). The reloted ir.come funds received in 2016-2018 (omounting to £1,352.377) recognised a5 Income .'n 2016. 2017 agd 2018 were restricted to being utilised on the copitol renovotion project ond therefore the result ,Ing depreciation charge of £69.700 is presented os includea in the expenditu're through the designoted fixed asset fund in note 17. The Company controcted for Ogd mono9ed the building renovotions as londlord for the project os o whole comprising both the lib.-ary port (ful'.y fuyded by Slosfordshire coun.ty CoJncil) ond those parts of the building ulilised by the Group. This building renovotion project (Including th.e library) expenditure has been fullb funded bbt the occounting Ii'eolment results li :iming differences between recognising income (yeors 2016 to 2018) ond recogrlising exnenditu"e (yeors 2018 10 2038). This totol income ond expenditure is ull'.molely eouivolent in oggregate but the occounting treotment impocts the net Income/expenditvre of the Group shown by the periodic Consolidoted stotement of finoncioi octivit"es. Activitie5 unoertoken directly Support costs 2023 2023 Total funds 2023 The Hub 135 195 20.649 Building redevelopment proiect 155,844 69.700 69.700 Totol 2023 204,895 20,649 225.544 Poge 29
The Gvild of St Mary's Centre Lichfield (A company limited by guorontee) Notes to the financial stotements For the year ended 31 December 2024 Analysis of expenditure by activities (continued) Analysis of direct CQ5ts Building redevelopment project 2024 Total funds 2024 The Hub 2024 Sloff costs 73.975 Depreciotion 73.975 18.029 Repairs and rr.ointenonce Sundry expeyses ond cleaning Premises ond admin costs Generol office expenses Advertising 69.700 87.729 30,555 30.355 18.635 18.635 51.002 51.002 1.124 1.124 1,499 1.499 Total 2024 194.619 69,700 264.319 Building redeve.opment project 2023 Total funds 2023 The Hub 2023 Stoff costs 60.289 Depreciolion Repoirs ond mointenance Sundry expenses ond cleoning Premises ond admin costs Training Generol office expenses Advertising Loss on disposol of fixed ossets 60,289 13.949 69,700 83.649 9,387 9.387 17,613 30.399 30,399 1.129 1.129 7,475 1,475 550 550 604 604 Totol 2023 135,195 204.895 Poge SO
The Guild of St Mary's Centre Lichfield (A company limited by gvorontee) Notes to the financial statements For the year ended 31 December 2024 Analysis of expenditure by activities (continued) Analysis of support costs Total funds 2024 Totol funds 2023 Interest payoble Profe5sionol fees Goveinonce 1,703 1,751 13.025 16,214 2.882 2.684 17.610 20.649 Independent examiner's remunerotion The ,'ndependent examiner's remuneration amounts to on Independent exominer fee of £3.600 (2023 - £3.250). 10. Staff costs Group 2024 Group 2023 Company 2024 Compony 2025 Woges ond solories Pension costs 223.294 191.628 71.163 57.797 2,812 2.492 2.812 2.492 226.106 194,120 73.975 60.289 The overage number of persons employed by the compony during the yeor wos os follows.. Group 2024 No. Group 2023 No. Staff 15 14 Poge 31
The Guild of St Mary's Centre Lichfield (A company limited by guorontee) Notes to the finoncial statements For the year ended 31 December 2024 10. Stoff costs (continued) No employee received remuneration amounting to more thon £60.000 in either yeor. Trustees remuneration and expenses No remunerolion out of the funds of the Choi'ity wos poid or is poyable for the yeor io ony Trustees or to ony person known to be connected with them. During ihe yeor. no Trustee wos reimbursed for expenses incurred 09 belolf of the charity (2023 - none). Tangible flxed assets Group ond Compony Fixtures. Leasehold fittings and improvements equipment Totol Cost At 1 Jonuory 2024 Additions 1,445.700 120.246 1,565.946 4,490 4.490 At 31 December 2024 1.445,700 124.736 1,570.436 Depreciotion At l Jonuory 2024 Chorge for the yeor 364.437 38.715 403.152 72.285 15.444 87,729 Al 31 December 2024 436.722 54.159 490.881 Net book value At 31 December 2024 1.008.978 70,577 1.079.555 At 31 December 2023 1,081.263 81,531 1,162.794 Poge 32
The Guild of St Mory's Centre Lichfield (A company limited by guarontee) Notes to the financiol stotements For the yeor ended 51 December 2024 12. Fixed osset investments Investment in subsldiary company Company Cost At l Jonuory 2024 100 At 31 December 2024 100 Net book volue At 31 December 2024 100 At 310ecember 2023 100 Stocks Group 2024 Group 2023 Goods for resole 6,212 2,317 14. Debtors Group 2024 Group 2023 Company 2024 Componu 2023 Trade debtors 25.275 30,923 25.776 Oiher debtors 27.602 150 601 Prepoymenls ond occrued income 3,509 1.873 3.113 965 1,013 27,298 34,657 24.739 32,124 Poge 33
The Guild of St Mory's Centre Lichfield (A compony limited by guarantee) Notes to the financial stotements For the yeor ended 31 December 2024 15. Creditors: Amounts falling due within one yèar Group 2024 Group 2023 Company 2024 Compony 2023 Bonk louns 8.000 8.000 Other loons 8.000 8.000 2.946 11,609 2.946 Poymenls received on occount Trude creditors 11.609 27,524 18.407 15.598 40.865 Other taxation ond sociol security Accruols ond deferred Income 10.655 30,331 14.463 7,053 343 38.761 30.731 28,643 29.270 107.292 116.665 50.587 79.210 Group 2024 Group 2023 Company 2024 Compor,y 2025 Deferred Income al 1 Jonuory 2024 Resources deferred during the yeor Amounts released frow previous periods 22.050 20.980 22.050 20.980 22.030 22.050 22,030 22,030 (22.030) (20.980) (22.030) (20.980) 22.030 22.030 22.030 22,030 Deferred income ot 31 December 2024 comprises rentol Income for the first qvorter of 2025. Poge 34
The Guild of St Mary's Centre Lichfield (A company limited by guarontee) Notes to the finonciol stotements For the year ended 310ecember 2024 16. Creditors: Amounts falling due after more than one yeor Group 2024 Group 2023 Compony 2024 Company 2023 Bonk loons 6.667 14,667 6.667 Other loons 14.667 44,943 47.889 44.945 47,889 51.610 62.556 51.610 62.556 Included within the obove are omounts folling due os follows.. Group 2024 Group 2023 Compony 2024 Compony 2025 Between one ond two year5 Bonk loons 6.667 8,000 6.667 Other loons 8.000 1,954 2.946 1,954 Between two and five year5 Bonk loons 6,667 Other loons 6.667 5.862 5.862 5.862 5.862 Over five years Other loans 37.127 39.081 37.127 39.081 The Group hold 0 £14.667 (2023 £22.667) bonk loon vio the Coronovirus Bounce 8onk Loan Scheme (88LS). The loon carries o fixerj Inleresl rote of 2.5¢/o pe" onnum and the term of the loan extends lo October 2026 with no early repoyment chorges. Other loons comprise two loon5 from Stoffordshire County Counci., (SCC) ond one from the Diocese of Lichfield. The first SCC loon hos £Nil (2023 - £7.500) outstanding having been repaid in full in the yeor without interest. The second SCC loog hos £46.897 {2023 £48.851) oulslonding which is repoyoble over the next 25 yeors ot a fixed rate of Interest, being 3.139/0. The Diocese loon hos £992 (2023 - £5,147) outslonding repayoble quorterly within 1 year. No security hos been granted over ony of the GrouD's loons. Poge 55
The Gvild of St Mary's Centre Lichfield (A company limited by guarantee) Notes to the finoncial statements For the year ended 31 December 2024 17. Stotement of funds Statement of funds- cvrrent year Bolonce ot 1 Jonuary 2024 Balance ot 31 December 2024 Transfers in/{out) Income Expenditure Unrestricted f unds Designated funds Building repoirg Fixed ossets 68.112 (1.800) (87.H5) 66,312 1.080.629 23.815 1.016.999 1.148.741 (89,245) 23.815 1.083.311 General funds Reserves 28.891 465.211 (461.010) (23.815) 7,277 Total Unrestricted funds 1.177,632 463.211 (550.255) 1.090.588 Restricted f unds Ernest ond Elsie Toylor Legocy Fund Swinfen Broun Choriloble Trust 1.675 1.675 102 4.000 4.102 Legocy - Peter Toylor Arts Council Culturol Recovery St Mary's Fobric Fund We Love Lichfield Fund 2.000 2.000 7.449 7.449 24.735 24,735 1.028 1,028 Lichfield City Council Groundwork UK (HS2) Lichfield District Council (VCS) Lichfield Conduit Lands Lichfield District Council (UK5PF) 6,973 6.973 26,106 (26,106) 31.970 (31,970) 2.500 2.500 3.056 (3,056) 36.989 74.605 (61,132) 50.462 Total of funds 1.214.621 537,816 (611.38n 1,141.050 Poge 36
The Gvild of St Mary's Centre Lichfield (A company limited by gvorantee) Notes to the financial statements For the yeor ended 31 December 2024 17. Statement of funds (continued) Statement of funds- prior year Bolonce ol 1 January 2023 Tronsfers 8alonce at 31 in/(out) Decewber 2025 Income Expenditure Unrestricted funds De5ignoted fvnds Building repoirs Lotent Defec:s Fuid Fixed ossets 40.000 28.112 68,712 18,112 (18,112) 56.074 1.108.808 (84.253) 1.080.629 1.166,920 (84.255) 66.074 1.148,741 Generol funds Reserves 84,968 384.534 (402.926) (37,685) 28,891 Totol Unrestricted fvnds 1.251888 384,534 (487,179) 28.389 1.177632 Restricted funds Ernes* opd Elsie Toyioi" Legocy Fund Swinfen 8roun Choritoble Trust Legacy - Peter Toylor Arts Couycil Culturol Recovery St Mory'5 Fobric Fund We Love Lichfield Fund Lichfield Conduit ionds Lichfseld City Council (CIL) Lichfield District Council (UKSPF) 1.675 1.675 1.051 3.462 (949) (3,462) 102 2.000 2.000 14.678 (7.229) 7.449 24.735 1,028 1,028 3.462 (3.462) (21.465) 21,465 18,714 (18,714) 45.167 47.103 (26,892) (28.389) 36.989 Total of funds 1.297,055 431.637 (514 071) 1.214,621 Poge 37
The Guild of St Mary's Centre Lichfield (A company limited by guorontee) Notes to the f inancial statements For the yeor ended 31 December 2024 Purpose of funds Designated funds Building repairs - £50.000 hos been sel oside the Trustees to cover future costs of repoiring ond maintoining +he building, os such repoir ond mointenance is on obligation of the Gvild by v'.rtue of the lease of The Hub ol St Mory's Centre building beiween the Diocese of Lichfield and the Guild. £1.800 was ulilised during the yeor for repoirs lo the oloors. Lotent Defects Fund - £18.112 has been set aside by the Trustees to cover future costs of correcting defe=Is foupd In the building os o result of detective controctor work. The funds hove been released from relentior)s held for principal controctors on the redevelpment proiecl for the buildiqg. Fixed ossels fund - represents the net book volue of certoin fixed ossels less the bolonce of outstanding loons. These ore ossets purchased ulilising restricted gronts ond the restriciions pertoining ',0 the funding hove been mel. The fund contoins lkne bolonce of the redeve'.opmenl pro,ect fuiid op.d Lichfield City Council & Lichfield Conduit Londs fund tronsfe.red Into the fund in 2020. The redevelopment project wos the refurbishment of The Hub ot St Mary's Centre building to occommodote the librcry op. the ground floor and provide o mixed-vse facility on the first floor. The Lichfield Cit¥ Council & Lichfield Coriduit Londs fund wos util,sed to purchose sound ond lightr" Ing equipment ol The Hub. Depreciotion 15 being charged :o the fund accordingly for fixed ossets. Restricted fvnds The Ernes,, ond Elsie Legac Fund was bequeotheci to the ceplre io f"'nance the cleonin9 of the Bower- Tapestry in the hei'itoge centre. SwirTrfen Broun Choritoble Trust - Funding of £4.000 received In 2024 for the Bells refurbishment project ond Leoi"ning Ceytre. lo be utilised in 2025. Funding of £2.000 hod been received in 2020 for relobelling ond reinterpretotion of the silver colleclioy, new history disploy boards op.d children's pocks. All but £102 has been ulilised as of 31 December 2024. Legacy Peter Toylor - Legocy received for ;he purpose of rebronding and retoining the Silver Colleclion Arts Council Culturol Recove"y Fund (CRF) - Fundifjg recelved from Arts Council England to aid Ironsltion bock to o viable and sustOllQDle operoting model. Three tronches of CRF were received in prior years. CRFI wo5 Uiilised to f und the Artistic ond Executive Directors to develop o new strotegy ond business plon with the Boord. oversee recruitment ond work olongside consultonts in order to develop o new programme of events thot ore economicolly vioble should sociol distoncing remoin in ploce ond that respoyds to the overoll socio-economic impocls of Covid-19. CRF2 wos utilised to support progromme delivery. putting on events ond paying ortists. CRFS, hos mostly been expendea ond some work is on-going. There ore plons lo spend the remoining f unds in 2025 on a occess video, you:h oudience development and mentoring os well os sloff training. We Love Lichfield Fund - £1.000 gront wos received in 2021 for o Heriloge project. There ore plons to utilise this on upgroding the heriloge disploys in 2025. Poge 38
The Gvild of St Mary's Centre Li¢hfield (A company limited by guorantee) Notes to the finoncial statements For the year ended 31 December 2024 Restricted fvnd5 (continued) St Mary's Fobric Fund In April 2021. The Porochlol Church Council of St Michoel ond St Mory. Lichfield transferred to the Guild of Si Mor¥'s Centre (Lichfield).. the bolonce of fund helo In the St Mary's Fobric Fund (£28.136) was for the Trustees of The Guild of St kPiory's Centre (Lichfield) to odminisier for the benefit of the fobric of the building. This fund was portly vtilised in 2022 op. the refbrbishment of the viewing plotform of the Spire There ore plons lo further utilise this fund on the Tower refurbishment in 2025. Lichfield Conduit Londs". A gront of £2.500 wos received in September 2024 for tpe Bel.s project. o ref Ljrbishmeni project designed to breothe new life Into the bells ot St Mory's os o teoching resource for ringing across the Miolands. In 2023. 0 gronl of £3,462 wos received for the trussing ond rebuilaing of the stoge os port of a Sound Upgrode proiect. This fund wos f ully utilised In 2023. Lichfield City Council - A gront of £6,973 wos received in December 2024 4or the Bells project Refurbishment work hos been done in the first quartei" of 2025. In 2023. 0 gront of £21.465 wos received fo, the purchase of sound equipment Csound Upgrode project) ond it was fully utilised In 2023. Grounowoi-k UK (HS2) Gronts totolling £26.106 were received dLJI-Ing 2024 ond fully utilised for the Bells project. clock repairs ond sp'.re cleoning. Liclfie,'d District Council (VCS) Gronts lotolling £31,970 were received during 2024 on.d fully ulilised for developing The HLJb ot the Heort o. he Cow.munity (Lichfield and Districll. Severol projects including engogemenl wilh various groups. crea.ive progrommes to engoge with hord-to-reoch communities ond those who fèel disengoged and bringing new people into volunteering. Licnfie,d Distric: Council (UKSPF)". A grant of £3.056 was received in 2024 for the purpose of exponding inclusivity ond diversily ol The Hub It W05 fully utilised in 2024. Irn 2023. 0 grar)t of £18.714 wos received for the pui'pose of expondin.g inclusivity ond diversity ot I he Hub ond it wos 4ully uti,'ised In 2023. Poge 39
The Guild of St Mory's Centre Lichfield (A company limlted by guorantee) Notes to the finonciol statements For the year ended 31 December 2024 18. Summory of funds Svmmary of funds- current year Balance ot 1 Jonuory 2024 Bolance ot 31 December 2024 Transfers in/(out) Income Expendlture Designoted funds Generol fund5 1.148.741 (89.245) {461.010) {61.132) 23.815 1.083,311 28,891 463.211 (25,81S) 7.277 Restricted funds 36.989 74.605 50.462 1.214.621 S37.816 (611,587) 1.141,050 Summory of funds- prlor yeor Boloyce ol l Januory 2023 Bolonce ot Tronsfers 31 December In/(out) 2023 Income Expenditure Designated funds Generol funds 1.166.920 (84.253) (402.926) (26.892) 66,074 1.148.741 84.968 384.534 (37 685) (28.389) 28.891 Restricted funds 45.167 47,103 36.989 1.297,055 431.657 (514,071) 1.214.621 Poge 40
The Guild of St Mary's Centre Lichfield (A compony limited by guarontee) Notes to the finonciol stotements For the year ended 31 December 2024 19. Analysis of net assets between funds Analysis of net asset5 between funds - current year Unrestricted fund5 2024 Restricted funds 2024 Total f unds 2024 Taigib,'e fixed ossets CLJrrenl assets 1.079.555 1.079.555 169,935 50.462 220.397 Creditors due within one yeor Creditors due In more thon one yeor (107.292) (51.610) (107.292) (51,610) Total 1.090,588 50,462 1,141.050 Analysis of net ossets between funds - prior year Unrestricted funds 2023 Restricied funds 2023 Total funds 2023 Tangible fixed osse:s Current ossets 1.162.794 1.162.794 194.059 36.989 231,048 Creditors due within one year Creditors due In more thon one ueor (116.665) (62.556) (116.665) (62.556) Totol 1.177.632 36,989 1.214,621 Page 41
The Guild of St Mary's Centre Lichfield (A compony limited by guarantee) Notes to the financial stotements For the year ended 31 December 2024 20. Reconciliation of net movement in funds to net cash flow from operating activities Group 2024 Group 2023 Nel expenditure for the period (os per Statement of Financiol Activities) (73.571) (82.434) Adjvstments for.. Depreciotion charges Dividends. interests ond renis from investments Loss on the disposol of fixed osset5 Ilncreose)/decreose in stocks Decreose/(inci-eo4e) in debtors (Decrease)/increose in creditors 87.729 83,649 (7.146) (7.006) 604 <3.895) 7.339 1.460 (21.876) 2.437 (710) Nèt cosh provided by/(used in) operating actlvities 9.746 (23,166) 21. Analysis of cosh ond cash equivolents Group 2024 Group 2023 Cash in hond 186,887 194.094 Total cosh and cash equivolents 186.887 194,094 Poge 42
The Guild of St Mory's Centre Lichfield (A company limited by guarontee) Notes to the f inancial statements For the yeor ended 51 December 2024 22. Anolysis of chonges in net debt At31 December 2024 At 1 Janvory 2024 Other non- Cosh flows cash changes Cash ot bonk ond in hond Debt due within 1 yeor Debi due ofter l year 194.094 (7.207) 19.609 186,887 (19,609) (62,556) (10,946) 10.946 (10.946) (51,610) 111.929 12.402 124.351 23. Pension commitments The group operoies o defined contributions pension scheme. The assets of the scheme ore held 5eporalely from those of the group in on independently odministered fund. The pension cost chorge represents contribufions POyODle by the group to the i und ond omounled ¥0 £2.812 {2023 - £2.492). Contributions totolling £Ni', (2023 - £N..I) were poyoble to the fund ot the balonce sheet date 24. Related porty transactions During the year. the chority rechorged £17,250 (2023 - £12.250) of costs to its subsidiory compony. St. Mory's Centre Lichfield (Shops) Limited. on on octvol usoge basis. Al the bolonce sheei dote. the subsidiory owed the GL)ild £69,568 (2023 - £89.545) Also, during ihe year. the chorily received a grant of £2.500 (2023 - £3,462) from Lichfield Conduit Lands, a chority at which o trustee of the Guild is also o trustee. Po9e 43
The Guild of St Mary's Centre Li¢hfield (A company limited by guarantee) Notes to the finoncial statements For the year ended 31 December 2024 25. Principal svbsidiaries The following wos o subsidiory undertoking of the compony. Nome Company nvmber Class of shares Holding St Mory's Centre Lichfield (Shops) Limited 02787447 Ordinory 1001 The finoncial results of the subsidiory for the yeor were.. Name Income Expenditure Net liobilities St Mory's Centre Lichfield (Shops) Limited 321.093 (317.156) (114.717) Po9e 44