The Congleton Town Trust
Trustees’ Report and Financial Statements
31 December 2023
Registered Charity number 1051122
The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
| Page | |
|---|---|
| Trustees’ Report and Financial Statements | |
| Contents | 2 |
| Legal and administrative information | 3 |
| Trustees’ Report | 4-5 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the accounts | 9-10 |
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The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
Legal and Administrative Information
Trustees
Nominated Trustees – 6
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Douglas Parker For a period of 4 years from Re-elected 11 December 2021
Denis Murphy For a period of 4 years from Re-elected 11 December 2021
Robert Boston For a period of 4 years from Re-elected 11 December 2021
Rachel Brown For a period of 4 years from Re-elected 10th October 2023
Suzanne Akers Smith For a period of 4 years from 8 October 2019 absent at meeting
to be re-elected Jan 2024
Jackie Potts For a period of 4 years from Elected 30 [th] September 2021
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Co-opted Trustees -6
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Peter Houldsworth For a period of 5 years Re-elected 10 July 2022
Margaret Gartside For a period of 5 years 14 January 2020
Rod Goodier For a period of 5 years 12 January 2021
Brian Hogan For a period of 5 years Elected 11 January 2022
Teresa Murphy For a period of 5 years Elected 11 January 2022
Mike Smith For a period of 5 years Elected 12 April 2022
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| Official | Ms Jo Money – Administrative Co-ordinator |
|---|---|
| Principal Office | The Resource Centre |
| Town Hall | |
| Congleton | |
| Cheshire | |
| CW12 1BN | |
| Bankers | National Westminster bank Plc |
| High Street | |
| Congleton | |
| Cheshire | |
| CW12 1BE | |
| Independent Examiner | Eileen Grigg |
Officers
Trustees Rod Goodier and Peter Houldsworth managing the buildings and arranging for annual fire inspections and annual electrical inspections and buildings insurance
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The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
The Trustees’ present their Report for the year ended 31 December 2023
The charity is registered with the Charity Commission, number 1051122
Objects, organisation and activities
On the 1[st] November 1995 the Charity Commissioners approved and established a scheme for the future regulation of The Congleton Town Trust.
The scheme provides that after defraying the cost of administration and managing the charity and its property the trustees are to apply their income in making grants, generally or individually, to persons resident within the area administered by the Congleton Town Council (or who can be treated as being so resident) who are in conditions of need, hardship or distress or to organisations able to provide facilities for such persons.
Review of progress and achievements
This year grants amounting to £15,029 have been made. These can be categorised as follows:-
| Grants - General | 4,050 |
|---|---|
| Grants - Beartown Rickshaw | 255 |
| Grants - Community | 500 |
| Grants - Individuals with Disabilities | 249 |
| Grants - Jazz n Blues | 400 |
| Grants - Social Support | 800 |
| Grants - Social/Educational Needs | 500 |
| Grants - Sports | 500 |
| Grants - Volunteer Support | 1,000 |
| Grants - Young People Arts | 1,575 |
| Grants - Young People Disabilities | 500 |
| Grants - Young People Education | 3,200 |
| Grants - Young People Sports | 1,500 |
| 15,029 |
In accordance with the Scheme under which the Trustees operate the Trustees have ensured that their objectives and the areas of benefit are adhered to. Accordingly, many local organisations have benefited, some of whom have only required small amounts. The beneficiaries, all of whom met the required conditions, are listed in the notes to this Trustees’ Report and Financial Statements.
Reserves policy
After providing sufficient funds to cover all management and administration the Trustees regard the remaining incoming resources as free reserves of the charity and available for the general purposes of making grants in accordance with the stated objects of the charity.
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The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
Statement of Trustees’ responsibilities
Under the Scheme of the Charity and trust law, the Trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of its income and expenditure. In preparing those financial statements, the Trustees are required to:
-
select suitable policies and then apply them consistently;
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make judgement and estimates that are reasonable and prudent;
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state whether applicable accounts standards have been followed, subject to any material departures, disclose and explained in the financial statements.
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Prepare the financial statements on an ongoing concern basis unless it is inappropriate to presume that the Charity will continue.
The Trustees are required to act in accordance with the Scheme of the Charity and within the framework of trust law. They have general responsibility for taking such steps as are reasonably open to safeguard the assets of the fund and to prevent and detect fraud and other regularities.
The attached financial statements show the current state of the finances.
On behalf of the Trustees
Douglas Parker Chairman
Date
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The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
Independent Examiner’s Report to the Trustees of The Congleton Town Trust
I report on the accounts for the year ended 31 December 2023 set out on pages 7 to 10
Respective responsibilities of Trustees and Examiner
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an Independent Examination is required.
It is my responsibility to:
*Examine the accounts under Section 145 of the 2011 Act
*To follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 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 from you as Trustees concerning any such 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 statements below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 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 .
Eileen Grigg ACMA CTA EPG Accountants Ltd Congleton Cheshire CW12 3JY
12[th ] March 2024
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The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
| Statement of Financial Activities | |||||
|---|---|---|---|---|---|
| For the year ended 31 December 2023 | |||||
| Note | Unrestricted | Restricted | Total | ||
| Fund | Fund | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| Income and expenditure | |||||
| Incoming resources | |||||
| Rents | 25,500 | - | 25,500 | 25,000 | |
| Bank interest | - | - | - | - | |
| Investment income | 653 | - | 653 | 905 | |
| Sundry income | 2,288 | 2,288 | - | ||
| __ | __ | __ | __ | ||
| Total incoming resources | 28,441 | - | 28,441 | 25,905 | |
| __ | __ | __ | __ | ||
| Resources expended | |||||
| Direct charitable expenditure | |||||
| Grants | 4 | 15,029 | - | 15,029 | 15,392 |
| Building works on rented properties | - | - | - | 12,041 | |
| Management and administration of the | |||||
| Charity | |||||
| Insurance | 2,538 | - | 2,538 | 1,013 | |
| Co-ordinator’s salary | 3,000 | - | 3,000 | 2,750 | |
| Accountancy and independent examination fee | 395 | - | 395 | 395 | |
| Stationery, photocopying, internet & postage | 25 | - | 25 | 157 | |
| Sundry | 398 | - | 398 | 764 | |
| Website | 306 | - | 306 | 237 | |
| __ | __ | __ | __ | ||
| Total resources expended | 21,691 | - | 21,691 | 32,749 | |
| __ | __ | __ | __ | ||
| Net(outgoing)/incoming resources for | the | 6,750 | - | 6,750 | (6,844) |
| year | |||||
| Recognised gains (losses) on investments | |||||
| Unrealised | 7 | - | (264) | (264) | (662) |
| Realised | - | - | - | (34) | |
| __ | __ | __ | __ | ||
| Net movements in funds | 6,750 | (264) | 6,486 | (7,540) | |
| Fund balances brought forward | 10,620 | 374,789 | 385,409 | 392,949 | |
| __ | __ | __ | __ | ||
| Fund balances carried forward | 17,370 | 374,525 | 391,895 | 385,409 | |
| __ | __ | __ | __ |
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The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
| Balance Sheet | |||||
|---|---|---|---|---|---|
| At 31 December 2023 | |||||
| Note | 2023 | 2022 | |||
| Fixed assets | |||||
| Investments | |||||
| Freehold property | 6 | 350,000 | 350,000 | ||
| M & G Fund | 10,962 | 11,226 | |||
| __ | __ | ||||
| 360,962 | 361,226 | ||||
| Current assets | |||||
| Debtors | 766 | - | |||
| Investment short term deposit | 10,000 | - | |||
| Cash at bank | 20,562 | 24,758 | |||
| 30,562 | 24,578 | ||||
| Current liabilities: | |||||
| Creditors: amount falling due within one | 395 | 395 | |||
| year | |||||
| __ | __ | ||||
| Net current assets | 30,933 | 24,183 | |||
| __ | __ | ||||
| Net assets | 391,895 | 385,409 | |||
| __ | __ | ||||
| Represented by: | |||||
| Funds | |||||
| Unrestricted income fund | 17,370 | 10,620 | |||
| Restricted capital fund | 374,525 | 374,789 | |||
| __ | __ | ||||
| 391,895 | 385,409 | ||||
| __ | __ |
Approved by the Board of Trustees on _____ 2024 and signed on its behalf by:
Douglas Parker Chairman
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The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
Notes to the Financial Statements
1. The Financial Statements have been prepared in accordance with Accounting & Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014, the Financial Reporting for Smaller Entities (effective January 2015). Assets & Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
2. Basis of preparation
The accounts have been prepared on an accruals basis
- Accounting policies
a. Inclusion of Income and Expenditure
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i. Rents are credited to income on an accruals basis
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ii. Interest is credited to income on the basis of the due date for payment
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iii. Resources expended. Expenditure is charged to the period to which it relates iv. Grants represent those monies donated to local charities or causes during the year
b. Valuation of Investment
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i. Investments are included at their market value
-
Grants
| Astbury St Marys | 2,000 |
|---|---|
| Aura | 800 |
| Beartown Rickshaw | 255 |
| Congleton Community Projects | 500 |
| Congleton Cricket Club | 1,500 |
| Congleton High School | 1,200 |
| Congleton Live | 400 |
| Congleton Harriers | 500 |
| Electric Picture House | 1,050 |
| Friends of the Park | 250 |
| Handicapped Children's Action | 500 |
| Pentecostal Church | 300 |
| Plus Dane Housing | 249 |
| RSPCA - Congleton Branch | 500 |
| SOL Theatre | 525 |
| The Green Tree House | 500 |
| The Old Saw Mill | 2,000 |
| Vale Allotments | 2,000 |
15,029
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The Congleton Town Trust Trustees’ Report and Financial Statements 31 December 2023
5. Trustees’ remuneration and expenses
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any Trustee or to any person or persons known to be connected with any of them.
No reimbursement of expenses has been made or is due to be made to any of the Trustees in respect of the year.
6. Freehold property
| 6. | Freehold property | |
|---|---|---|
| £ | ||
| 7 High Street, Congleton | 155,000 | |
| 9 High Street, Congleton | 195,000 | |
| _ | ||
| As valued by Timothy A Brown, Valuers and Surveyors | ||
| on 21 August 2021 on the basis of being subject to the | ||
| existing tenancies | 350,000 | |
| _ | ||
| 7. | Investment | |
| M&G Bond | ||
| Market value at beginning of year 11,226 | ||
| Market value at end of year 10,962 | ||
| Unrealised investment loss | (264) |
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