## **MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE)**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 OCTOBER 2022**
**Registered number : 02741092**
**MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
## **DIRECTORS**
The Revd Prebendary Dr Brian Leathard (Chairman) Canon Iain F. Paton (Secretary) Very Reverend Geoffrey Marshall Reverend Kevin Dunne Prebendary Rosemia Brown Mr Stuart Lynch Mr Roger Stoakley Mr Andrew Webster Mrs Joanna Spalding
## **SECRETARY**
Canon Iain F Paton
## **REGISTERED OFFICE**
11 Hillgate Place Balham Hill London SW12 9ER
## **COMPANY NUMBER**
02741092
## **REGISTERED CHARITY NUMBER**
1020058
## **BANKERS**
Santander Business Banking Bootle Merseyside L30 4GB
## **REPORTING ACCOUNTANT**
Michael Howell FIAB Braehead East Avenue Road Ingatestone Essex CM4 9HB
Page 1
**MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022**
## **CONTENTS**
|Pages|3|to|4|Directors' report|
|---|---|---|---|---|
||5|||Accountant's report|
||6|||Statement of financial activities|
||7|||Balance sheet|
||8|to|10|Notes to the Accounts|
Page 2
**MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT FOR THE YEAR ENDED 31 OCTOBER 2022**
## **Directors**
Directors who served during the year were as follows:
The Revd Prebendary Dr Brian Leathard - Chair Canon Iain F. Paton Very Reverend Geoffrey Marshall Reverend Kevin Dunne Prebendary Rosemia Brown Mr Stuart Lynch Mr Roger Stoakley Mr Andrew Webster Mrs Joanna Spalding
The Directors present their annual report and financial statements of the charity for the year ended 31 October 2022.
## **Principal Activities**
The objects of the Company are to advance religion by furthering education in the lands pilgrims visit and to relieve poverty, sickness and distress in these areas.
## **Review of the year**
As with many other charities, the year under review has been particularly difficult in terms of retaining our level of income. Many church congregations which support the Trust have been unable to hold their usual fund-raising activities as they, too, have been suffering a reduction in their level of support due to the Covid 19 pandemic. Also, as reported last year, there is a significant reduction in the number of pilgrims travelling to the Holy Land, which has had a further negative impact on the Trust's income. Despite these drawbacks, the trustees are pleased to be able to report that they have maintained the level of regular grants which are provided to our main beneficiaries. Looking ahead, there does now appear to be a recovery in sight, which promises well for the future.
As in previous years, the trustees wish to place on record their enormous gratitude to individuals and church congregations who have continued to send in donations during this difficult period. The Trust's fundraising activities are re-commencing and we look forward to a good year ahead.
## **Management and Administration of the charity**
The Trustees place on record their enormous thanks to the staff and good offices of McCabe Pilgrimages for their unwavering support in what has been a hugely unpredictable year commercially. Without this administrative assistance, which the Trust receives free of charge, we should not have been in a position to assure our donors that all monies donated to the Trust are transferred to the beneficiaries in full, with no administrative deductions.
We further thank those who have continued to support the Trust in a variety of ways and we look forward to a re-commencement of our fundraising and advocacy activities.
Page 3
**MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT FOR THE YEAR ENDED 31 OCTOBER 2022**
## **Statement of directors responsibilities.**
Directors are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure account of the charitable company for that period. In preparing those financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departure disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the accounting regulations.
For the year ended 31 October 2022 the charity's gross income was between £90,000 and £500,000 and its balance sheet totals did not exceed £2.8 million. Therefore the directors consider that the company is entitled to partial audit exemption. The Reporting Accountant's report on page 5 contains an audit exemption report as required by Charity Commission Practice Note 11- Audit of Charities in the United Kingdom.
## **General fund**
The Statement of Financial activities for the year shows grants/expenditure in excess of income for the year of £(40,026).
Approved by the board of trustees on 2 March 2023 and signed on its behalf by
Secretary
Canon Iain F Paton BD FCIS
## **Registered Office**
11 Hillgate Place Balham Hill London SW12 9ER
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE)**
I report on the accounts for the year ended 31 October 2022 set out on pages 6 to 10.
## **Respective responsibilities of trustees and reporting accountant**
As described on page 4 the trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the Charities Act,
to follow procedures laid down under the general Directions given by the Charity Commisssion (under section 145 (5) (b) of the Charities Act); and
to state whether particular matters have come to my attention
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. it also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations form you as trustees concerning any matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 130 of the Charities Act;
to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Charities Act have not been met: or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Michael Howell FIAB
Braehead East Avenue Road Ingatestone Essex CM4 9HB
2 March 2023
Page 5
**MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022**
|**Note**
**Income and Expenditure**
**Incoming Resources**
2
**Resources Expended**
Direct charitable expenditure
3
Management and administration of the
charity
5
**Total Resources Expended**
6
**Net (Outgoing)/Incoming Resources**
**before Transfers**
**Net (Outgoing)/Incoming Resources for**
**the year**
**Other Recognised Gains and Losses**
Loss/(Gain) on revaluation Charifund
**Net Movement in Funds**
Fund Balances forward at 1 November
2021
**Fund Balances forward at 31 October**
**2022**
9|**Unrest**
**Rest**
**Total**
**ricted**
**ricted**
**Funds**
**Funds**
**2022**
**£**
**£**
**£**
145,377
-
**145,377**
179,250
-
**179,250**
2,851
-
**2,851**
182,101
-
**182,101**
(36,724)
-
**(36,724)**
(36,724)
-
**(36,724)**
3,302
-
**3,302**
(40,026)
-
**(40,026)**
104,756
-
**104,756**
64,730
-
**64,730**|**_Total_**
**_2021_**
**_£_**
_180,842_
_161,003_
_2,879_
_163,882_
_16,960_
_16,960_
_(13,754)_
_30,714_
_74,042_
_104,756_|
|---|---|---|
Page 6
**COMPANY REGISTRATION NUMBER 02741092 MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AT 31 OCTOBER 2022**
|**Note**
**2022**
**£**
**£**
**FIXED ASSETS**
**CURRENT ASSETS**
Investments - M & G Charifund
**50,839**
Cash at bank and in hand
**14,461**
**65,300**
**CREDITORS: Amounts falling due within one year**
8
**570**
**NET CURRENT ASSETS**
**64,730**
**NET ASSETS**
**64,730**
**FUNDS**
Unrestricted
9
**64,730**
**64,730**|**_2021_**
**_£_**
_54,141_
_51,185_|
|---|---|
||_105,326_
_570_|
||_104,756_|
||_104,756_|
||_104,756_|
||_104,756_|
In approving these financial statements as directors of the company we hereby confirm the following:
For the year in question the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
1) The members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Approved by the Board of Trustees on 2 March 2023 and signed on its behalf by:
________________________________________ Canon Iain F Paton Director/Secretary
Page 7
**MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2022**
## **1 ACCOUNTING POLICIES**
## **1a. Basis of accounting**
The accounts have been prepared under the historical cost convention on the accruals basis and in accordance with the accounting principles set out in SORP 2 - Accounting for Charities.
## **1b. Allocation of Expenditure**
Expenditure has been allocated between the main headings in the Statement of Financial Activities on the basis of the type of activity to which they relate.
Income and expenses have not been netted off.
## **2. INCOMING RESOURCES**
|Donations received
**3.**
**DIRECT CHARITABLE EXPENDITURE**
Grants payable
**4.**
**FUNDRAISING AND PUBLICITY**|**Unrest**
**Rest**
**ricted**
**ricted**
**Funds**
**Funds**
**£**
**£**
145,377
-
145,377
-
**Unrest**
**Rest**
**ricted**
**ricted**
**£**
**£**
179,250
-
179,250
-
**Unrest**
**Rest**
**ricted**
**ricted**
**£**
**£**
-
-|**Total**
**2022**
**£**
145,377
145,377
**Total**
**2022**
**£**
179,250
179,250
**Total**
**2022**
**£**
-|**_Total_**
**_2021_**
**_£_**
_180,842_|**_Total_**
**_2021_**
**_£_**
_180,842_|
|---|---|---|---|---|
||||_180,842_||
||||**_Total_**
**_2021_**
**_£_**
_161,003_||
||||_161,003_||
|||||**_Total_**
**_2021_**
**_£_**|
|||||_-_|
Page 8
**MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONT.) FOR THE YEAR ENDED 31 OCTOBER 2022**
## **5. MANAGEMENT AND ADMINISTRATION OF THE CHARITY**
|Accountancy
Stationery, Postage & packing
Just Giving charges
Bank charges
**6.**
**TOTAL RESOURCES EXPENDED**
**Staff**
**Deprec**
**Costs**
**iation**
**£**
**£**
Direct charitable expenditure
-
-
Management and administration of the
charity
-
-
-
-
£
Staff costs:
Other costs:
Grants payable
Accountancy
Stationery, Postage & packing
Just Giving charges
Bank charges|**2022**
**£**
570
422
562
1,297
2,851
**Other**
**Total**
**Costs**
**2022**
**£**
**£**
182,101
182,101
2,851
2,851
184,952
184,952
**2022**
**£**
-
179,250
570
422
562
1,297
182,101|**_2021_**
**_£_**
_570_
_646_
_562_
_1,101_
_2,879_
**_Total_**
**_2021_**
**_£_**
_161,003_
_2,879_|**_2021_**
**_£_**
_570_
_646_
_562_
_1,101_|
|---|---|---|---|
||||_2,879_|
|||_163,882_||
|||**_2021_**
_£_||
|||_-_||
|||_161,003_
_570_
_646_
_562_
_1,101_||
|||_163,882_||
Page 9
**MCCABE EDUCATIONAL TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONT.) FOR THE YEAR ENDED 31 OCTOBER 2022**
## **8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Accruals|**2022**
**£**
570
570|**_2021_**
**_£_**
_570_|
|||_570_|
## **9 FUNDS**
|**FUNDS**|||
|---|---|---|
|As at 1 November 2021
Surplus for year
As at 31 October 2022|**Unrest**
**Rest**
**ricted**
**ricted**
**Funds**
**Fund**
**£**
**£**
104,756
-
(40,026)
-
64,730
-|**Total**
**£**
104,756
(40,026)|
|||64,730|
.
Page 10