REGISTERED COMPANY NUMBER: 02521173 (England and Wales) REGISTERED CHARITY NUMBER: 1017833
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
FOR
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
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 30 September 2022. 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 2019).
OBJECTIVES AND ACTIVITIES
Objects of the charity
The objects of the charity are to act as custodian or management trustee on behalf of the North & East Lancashire Unitarian Mission and individual or groups of churches within the mission area.
Each year the trustees review the objectives and activities of the charity to ensure they continue to reflect their aims and provide public benefit. The trustees are more than satisfied that they do.
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.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02521173 (England and Wales)
Registered Charity number
1017833
Registered office
Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
Trustees
G Waywell (deceased 5.5.22) B R Brown Reverend B Allerton Ms K Diggle
Company Secretary Reverend B Allerton
Independent Examiner
A J Syddall M.A., A.C.A. P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
Page 1
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Caf Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA
Stockbrokers
Charles Stanley & Co Limited 25 Luke Street London EC2A 4AR
REVIEW OF THE YEAR
The financial results for the year ended 30 September 2015 are shown in the attached financial statements.
Approved by order of the board of trustees on 22 May 2023 and signed on its behalf by:
Ms K Diggle - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
Independent examiner's report to the trustees of North & East Lancashire Unitarian Mission Trustee Company (Incorporated) ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2022.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
A J Syddall M.A., A.C.A.
P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
22 May 2023
Page 3
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Investment income 2 47,691 EXPENDITURE ON Other 3 (46,149) Net gains/(losses) on investments 3 (93,840) NET INCOME 3 - RECONCILIATION OF FUNDS Total funds brought forward 3 - TOTAL FUNDS CARRIED FORWARD 3 - |
2021 Total funds £ 50,235 |
|---|---|
| 275,008 | |
| 224,773 | |
| - - |
|
| - |
The notes form part of these financial statements
Page 4
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
BALANCE SHEET 30 SEPTEMBER 2022
| Notes FIXED ASSETS Investments 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS/(LIABILITIES) FUNDS 8 TOTAL FUNDS |
2022 Unrestricted fund £ 1,280,929 23,003 309,016 332,019 (1,612,948 ) (1,280,929 ) - - - |
2021 Total funds £ 1,404,473 23,003 281,689 304,692 (1,709,165 ) (1,404,473 ) - - - |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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.
The notes form part of these financial statements
Page 5
continued...
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
BALANCE SHEET - continued 30 SEPTEMBER 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 22 May 2023 and were signed on its behalf by:
K Diggle - Trustee
The notes form part of these financial statements
Page 6
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
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 2019)', 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The presentation currency of the financial statements is the Pound Sterling (£).
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.
TAXATION
The charity is exempt from corporation tax on its charitable activities.
2. INVESTMENT INCOME
3.
| Income from fixed asset investments OTHER Administration expenses Interest payable and similar charges Amount due to/from investing charities |
2022 £ 47,691 2022 £ 15,919 31,772 (93,840) (46,149) |
2021 £ 50,235 2021 £ 24,192 26,043 224,773 |
2021 £ 50,235 |
|
|---|---|---|---|---|
| 275,008 |
continued...
Page 7
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 30 September 2022 nor for the year ended 30 September 2021.
5. FIXED ASSET INVESTMENTS
| Listed investments £ 1,404,473 32,819 (71,389) 8,865 (115,152) 21,313 1,280,929 1,404,473 |
Listed investments £ 1,404,473 32,819 (71,389) 8,865 (115,152) 21,313 1,280,929 1,404,473 |
Listed investments £ 1,404,473 32,819 (71,389) 8,865 (115,152) 21,313 1,280,929 1,404,473 |
Listed investments £ 1,404,473 32,819 (71,389) 8,865 (115,152) 21,313 1,280,929 1,404,473 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MARKET VALUE | ||||||||||||
| As at 1 October 2021 | ||||||||||||
| Additions | ||||||||||||
| Disposals | ||||||||||||
| Reclassification/transfer | ||||||||||||
| Unrealised gains/(losses) on fixed asset investments | ||||||||||||
| Realised gains/(losses) on fixed asset investments | ||||||||||||
| At 30 September 2022 | ||||||||||||
| At 30 September 2021 | ||||||||||||
| The historical cost of the above investments at 30 September 2022 was £995,781 (2021 - £1,012,288). | ||||||||||||
| Book/market value Unrealised 30.09.21 or gains/losses cost of adjustments Market value Book cost additions and transfers 30.09.22 |
||||||||||||
| £ | £ | £ | £ | |||||||||
| Fixed Interest Fund | ||||||||||||
| M&G Securities 39116 units Charibond | 45,668 | 47,765 | (7,237) | 40,528 | ||||||||
| Old Mutual Fund Managers | ||||||||||||
| 39,699.8315 Units | 41,490 | 56,524 | (9,798 ) |
46,726 | ||||||||
| 87,158 | 104,289 | (17,035 ) |
87,254 | |||||||||
| Equity Fund | ||||||||||||
| M&G Securities 7,000 units Charifund | 21,256 | 107,624 | (11,591) | 96,033 | ||||||||
| Charles Stanley Shares Portfolio | 887,367 | 1,192,560 | (94,918 ) |
1,097,642 | ||||||||
| 908,623 | 1,300,184 | (106,509 ) |
1,193,675 | |||||||||
| Total invested 30 September 2021 | 995,781 | 1,404,473 | (123,544 ) |
1,280,929 | ||||||||
| Book/market | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| value | Unrealised | ||||||||
| 30.09.21 or | gains/losses | ||||||||
| cost of | adjustments | Market value | |||||||
| Book cost | additions | and transfers | 30.09.22 | ||||||
| £ | £ | £ | £ | ||||||
| Fixed Interest Fund | |||||||||
| M&G Securities 39116 units Charibond | 45,668 | 47,765 | (7,237) | 40,528 | |||||
| Old Mutual Fund Managers | |||||||||
| 39,699.8315 Units | 41,490 | 56,524 | (9,798 ) |
46,726 | |||||
| 87,158 | 104,289 | (17,035 ) |
87,254 | ||||||
| Equity Fund | |||||||||
| M&G Securities 7,000 units Charifund | 21,256 | 107,624 | (11,591) | 96,033 | |||||
| Charles Stanley Shares Portfolio | 887,367 | 1,192,560 | (94,918 ) |
1,097,642 | |||||
| 908,623 | 1,300,184 | (106,509 ) |
1,193,675 | ||||||
| Total invested | 30 September 2021 | 995,781 | 1,404,473 | (123,544 ) |
1,280,929 |
continued...
Page 8
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022
| 6. 7. 8. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR North & East Lancashire Unitarian Mission CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Income due to investing charities Amount due to investing charities Other creditors |
2022 £ 23,003 2022 £ (27,510) 1,639,166 1,292 1,612,948 |
2021 £ 23,003 2021 £ (16,741) 1,724,614 1,292 1,709,165 |
||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| £ | £ | ||||
| Amount due to investing charities | |||||
North & East Lancashire Unitarian Mission |
293,664 | 313,131 | |||
| Colne Fund | 43,084 | 45,073 | |||
| Blackpool North Shore Trust Fund | 164,658 | 172,693 | |||
| Horwich Church Congregation & Trustees | 106,135 | 111,551 | |||
| Newchurch | 278,644 | 293,340 | |||
| Lancaster | 663,124 | 694,383 | |||
| Preston | 89,857 | 94,443 | |||
| 1,639,166 | 1,724,614 | ||||
| MOVEMENT IN FUNDS |
| Net | ||||
|---|---|---|---|---|
| At | movement | At | ||
| 1.10.21 | in funds | 30.9.22 | ||
| £ | £ | £ | ||
| TOTAL FUNDS | - | - | - | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 47,691 | 46,149 | (93,840) | - |
| TOTAL FUNDS | 47,691 | 46,149 | (93,840) | - |
continued...
Page 9
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2022.
10. LIABILITY OF MEMBERS
Every member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while he is a member, or within one year after he ceased to be a member, for payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves such amount as may be required not exceeding one pound.
11.
CONNECTED CHARITIES
The company is connected to the North & East Lancashire Unitarian Mission. It acts as custodian or managing trustee in respect of the investments of the Mission and individual or groups of churches within the Mission area. All the net income of the company is distributed to the investing charities.
12. CHARITABLE COMPANY STATUS
The company is incorporated as a company limited by guarantee and not having a share capital. It is registered as a charity and is exempt from taxation.
Page 10
NORTH & EAST LANCASHIRE UNITARIAN MISSION TRUSTEE COMPANY (INCORPORATED)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| INCOME AND ENDOWMENTS Investment income Income from fixed asset investments Total incoming resources EXPENDITURE Other Administration expenses Income due to investing charities Amount due to/from investing charities Total resources expended Net income/(expenditure) before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Unrealised gains/losses on fixed asset investments Net income |
2022 £ 47,691 47,691 15,919 31,772 (93,840) (46,149) (46,149) 93,840 21,312 (115,152) - |
2021 £ 50,235 50,235 24,192 26,043 224,773 275,008 275,008 (224,773) - 224,773 - |
|---|---|---|
This page does not form part of the statutory financial statements
Page 11