AGM Chair Opening Statement "Thank you all for takinE the time to attend our 2023 Autumn AGM" Included on your seats is our AGM report which outlines each area and contains some condensed headlines of our financial performance during the financial year 2022- 2023. There is also a copy of the audited accounts which detail our in-depth financial performance for the year. This is the first year we have aligned our AGM to Autumn allowing us to discuss the financial year that we ended in March this year. The board and I see this as an incredibly im portant step -It means the figures we present are more current and meaningful -It aligns us to many other not for profits who operate a si milar structure -It reflects the excellent work of our operational and finance teams who's accuracy of reporting has ultimately made th is change possible. The key financial performance figures for the year are as follows- Total Revenue of £535,300 vs Previous Year figure of £482209 Total Costs of £533556 vs Previous Year figure of £489628 Our end result for the year being a small excess of £1744.
As a long standing member of the MRC board of trustees and current chair it has been extremely satisfying to see our growth over the last 3 years. During my long time being associated with the organisation never before have we had such strong presence in the local community. I believe we are living the values as set out in our Original Articles of Association and this can be seen in the powerful statistics around visits to the site with a future target of IOOK visits this year. As a small community organisation we do not have the resources of well known national charities and as such we have had to work extra hard to achieve the recognition and impact. So many inputs have gone into developing our fabulous reputation and it would be inappropriate for me to single out individual achievements. I speak on behalf of the rest of the board of trustees in sincerely thanking our MRC Tea m for delivering such a great service to the local community. The significant changes we have made over the last 3 years have enabled our leaders to think strategically in order to develop long term plans for our organisations future. The ability to think in thi5 way is crucial and is something that will ensure future successes for the MRC. On behalf of myself and the board I'd like to say a massive thank you to all our customers, visitors and donors who make so much of what we do possible. Thank you alll
I'm going to hand over to Paul now who will briefly give his view of the financial year, premier our new promotional video and give a brief presentation on our 3- 5-year plan. There will be a n opportunity for questions after the video and Paul's presentation. Finally, we will end with the statutory election of our trustees and a chance for any final questions.
ReGISTERED COMPANY NUMBER: 03230594 (England and Wales) REGISTERED CHARITY NUMBER: 1058583 Report of the Trustees and Unaudited Financlal Statements for the Year Ended 31 March 2023 for MRC Community Action Elverstone Large Ltd Chartered Certified Accountants Temple Chambers 16a Belvoir Rciad Coalvllle Leics LE67 3QE
MRC Community Action Contents of the Financial Statements for the Year Ended 31 March 2023 Page Report of the Trustees Independent Examiner's Report statement of Financial Activities Balance Sheet 6 to 7 Notes to the Flnanclal Statements 8 to 14 Detailed Statement of Flnancial Activities 15 to 16
MRC Communlty Action Report of the Trustees for the Year Ended 31 March 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financlal statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordatbce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 20191. 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 Companles Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03230594 (England and Wales) Registered Charlty number 1058583 Registered office 85 Belvoir Road Coalville Leics LE67 3PH Trustees JGReid S Hughes Mrs H J Panter L Ricaby R Barlow C l Large R Tugnet Company Secretary Independent Examiner Elverstone Large Ltd Elverstone Large Ltd Chartered Certified Accountants Temple Chambers 16a Belvoir Road Coalville Leics LE67 3QE Approved by order of the board of trustees on behalf by.. and signed on its Page I
MRC Communlty Action Report of the Trustees for the Year Ended 31 March 2023 S Hughes - Trustee Page 2
Independent Examiner's Report to the Trustees of MRC Community Action Independent examiner's report to the trustees of MRC Community Action ('the Company.) I report to the charity trustees on my examinatlon of the accounts of the Company for the year ended 31 March 2023. Responslbllltles and basis of report As the charity's trustee5 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'l. Having satisfied rnyself that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of mv examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act,). In carryino out my examination I have followed the Directions given by the Charity Commi5siofb under Sectlon 145(5) Ibl of the 2011 Act. Page 3
Independent Examiner's Report to the Trustees of MRC Community Action Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certifi'ed Accountants, whlch is one of the listed bodies. 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 consldered as part of an independent examlnatlon. 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 (appllcable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK ar)d Republic of Ireland IFRS 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. Elverstone Large Ltd Elverstone Large Ltd Chartered Certified Accountants Temple Chambers 168 Belvoir Road Coalville Leics LE67 3QE Date.. Page 4
MRC Community Action Statement of Financial Activities for the Year Ended 31 March 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 416,387 416,387 373,806 other trading activities Investment income 117,827 1,086 117,827 1,086 105,130 3,273 Total 535,300 535,300 482,209 EXPENDITURE ON Ralslng funds 501,692 501,692 463,967 Other 31,864 31,864 25,661 Total 533,556 533,556 489,628 NET INCOME/(EXPENDITURE) 1,744 1,744 (7,419) RECONCILIATION OF FUNDS Total funds brought forward 330,571 330,571 337,990 TOTAL FUNDS CARRIED FORWARD 332,315 332,315 330,571 The notes form part of these flnancial statements Page 5
MRC Community Action Balance Sheet 31 March 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund funds Notes FIXED ASSETS Tangible assets 101,354 101,354 117,164 CURRENT ASSETS Debtors Cash at bank and in hand io 65,488 200,444 65,488 200,444 107,242 171,542 265,932 265,932 278,784 CREDITORS Amounts fa15ing due within one year {34,971) {34,971) {65,377) NET CURRENT ASSETS 230,961 230,961 213,407 TOTAL ASSETS LESS CURRENT LIABILITIES 332,315 332,315 330,571 NET ASSETS 332,315 332,315 330,571 FUNDS Unrestricted funds 12 332,315 330,571 TOTAL FUNDS 332,315 330,571 The charitable company is entitled to exemption from audlt under Sectlon 477 of the Companies Act 2006 for the year ended 31 March 2023. The members have not required the company to obtain an audit of Its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companles Act 2006. The trustees acknowledge their responsibilities for {a) ensurlng 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 affalrs of the charitable company as at the end of each fbnancial year and of its surplus or deficit for each financial year in accordance with the requirements of Sertions 394 and 395 and whlch otherwise comply with the requirements of the Companies Act 2006 relating to financlal statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 6 continued...
MRC Community Aetlon Balance Sheet- continued 31 March 2023 These financlal statements have been prepared in accordance with the provisions appllcable to charitable companies subjert to the small companies regime. The financial statements were approved by the Board of Trustees and authorlsed for issue on and were signed on Its behalf by.. S Hughes - Trustee The notes form part of these financial statements Page 7
MRC Communlty Action Notes to the Financial Statements for the Year Ended 31 March 2023 ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the charitable companyi which is a public benefit entlty under FRS 102, have been prepared In accordance with the Charities SORP IFRS 102) 'Accountlng 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 IFRS 102) (effective l January 20191,, 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. 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 Liabilitles 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 3mount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been clossified under headings thal aggregate all cost related to the category. Where costs cannot be directly attributed to partlcular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible f ixed assets Depreciatlon Is provided at the following annual rates Sn order to wrlte off each asset over ts estimated useful life. Freehold Land and Buildings - 50 years stralght line Motor Vehicles ~ 7 years straight line Fixtures & Fittings - 10 years straight line Computer equipment 4 years stralght line Taxation The charlty Is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used In accordance with the charitable objectives at the discretion of the trustees. Restricted fund5 can only be used for particular restricted purposes within the objects of the charity. Restrlctions arise when specified by the donor or when funds are raised for partlcular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 8 continued.
MRC Community Action Notes to the Financial Statements- continued for the Year Ended 31 March 2023 OTHER TRADING ACTIVITIES 2023 2022 Shop Income 117,827 105,130 INVESTMENT INCOME 2023 2022 Deposit account Interest Other income 567 519 33 3,240 1,086 3,273 RAISING FUNDS Raising donations and legacies 2023 2022 Support costs 384,817 351,048 NET INCOME/(EXPENDITURE) Net incomellexpenditure) is stated after charging/{crediting): 2023 2022 Depreciation owned assets 16,606 16,827 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Trustees. expenses There were no trustees, expense5 paid for the year ended 31 Narch 2023 nor for the year ended 31 March 2022. Page 9 continued...
MRC Community Actlon Notes to the Financial Statements - continued for the Year Ended 31 March 2023 STAFF COSTS The average monthly nL¢mber of employees during the year was as follows.. 2023 27 2022 28 Employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 373,806 373,806 other trading activlties Investment income 105,130 3,273 105,130 3,273 Total 482,209 482,209 EXPENDITURE ON Raising funds 463,967 463,967 other 25,661 25,661 Total 489,628 489,628 NET INCOME/(EXPENDITURE) (7,419) {7,419 > RECONCILIATION OF FUNDS Total funds brought forward 337,990 337,990 TOTAL FUNDS CARRIED FORWARD 330,571 330,571 Page 10 continued...
MRC Communlty Actlon Notes to the Flnanclal Statements- continued for the Year Ended 31 March 2023 TANGIBLE FIXED ASSETS Computer & Fixtures equipment Freehold property Motor vehicles Totsls COST At l April 2022 Addltions 220,366 280,332 114,959 796 615,657 796 At 31 March 2023 220,366 280,332 115,755 616,453 DEPRECIATION At l April 2022 Charge for year 124,629 4,048 266,515 8,575 107,349 3,983 498,493 16,606 At 31 March 2023 128,677 275,090 111,332 515,099 BOOK VALUE At 31 March 2023 91,689 5,242 4,423 101,354 At 31 March 2022 95,737 13,817 7,610 117,164 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Marlene Reid Enterprises Rent Deposlt - Attic new lease VAT Prepayments 14,110 30,432 3,300 1,686 15,960 48,941 30,432 3,300 1,425 23,144 65,488 107,242 Page 11 continued...
MRC Communlty Actlon Notes to the Financial Statements - contlnved for the Year Ended 31 March 2023 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Soclal secLtrlty and other taxes other creditors Deferred Income 8,847 3,357 210 22,557 28,213 2,547 1,372 33,245 34,971 65,377 12. MOVEMENT IN FUNDS Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 330,571 1,744 332,315 TOTAL FUNDS 330,571 1,744 332,315 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 535,300 (533,556) 1,744 TOTAL FUNDS 535,300 (533,556) 1,744 Comparatives for movement in funds Net movement in funds At 31.3.22 At 1.4.21 Unrestricted funds General fund 337,990 (7,419) 330,571 TOTAL FUNDS 337,990 (7,419) 330,571 Page 12 continued.
MRC Community Action Notes to the Financial Statements - continued for the Year Ended 31 March 2023 12. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incomlng resources Resources expended Movement in funds Unrestricted funds General fund 482,209 {489,628) 17,4191 TOTAL FUNDS 482,209 {489,628) 17,419) A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.3.23 At 1.4.21 Unrestricted funds General fund 337,990 (5,675) 332,315 TOTAL FUNDS 337,990 {5,675) 332,315 A current year 12 months and prlor year 12 months combined net movement In funds, ncluded in the above are as follows-. Incomlng resources Resource5 expended Movement n funds Unrestricted funds General fund 1,017,509 {1,023,184) 15,6751 TOTAL FUNDS 1,017,509 (1,023,184) 15,675) Page 13 continued..-
MRC Community Action Notes to the Financial Statements - continued for the Year Ended 31 March 2023 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2023. 14. RESTRICTED FUNDS The following Restricted items are included In Unrestricted Funds: Restricted Income Donations - Children & FamilieslMRC The Centre/ Donations - £17,090.02 Donations -Transport Donation - £62.74 Charitable Income Transport - SCS Driver £24,476.83 Transport- ACS Driver £7,751.73 Transport- DAR £5,035.50 Transport Grants - £75,920.00 Shop Income - Donated Goods - £82,021.18 TOTAL RESTRICTED INCOME- £212,358.00 Restricted Expenditure Charltable Expenditure Transport SCS Driver Expenses - £23,294.88 Transport ACS Driver Expenses - £5,884.60 Transport Volunteer Expenses - Nil TOTAL RESTRICTED EXPENDITURE - £ 29,179.48 Page 14
MRC Community Actlon Detailed Statement of Financlal Activities for the Year Ended 31 March 2023 2023 2022 INCOME AND ENDOWMENTS Donations and legacies Donations Charitable income Grants Donated services and facilities 21,611 173,992 140,215 80,569 12,338 135,195 155,250 71,023 416,387 373,806 other trading activities Shop income 117,827 105,130 Investment income Deposit account interest other income 567 519 33 3,240 1,086 3,273 Total Incoming resources 535,300 482,209 EXPENDITURE other trading activities Charitable expenditure 116,875 112,919 other Bad debts Sundry expenses Rates, water & service charge Rent payable Legal & professional Subscriptions 1,067 10,775 3,000 11,617 5,013 392 7,827 1,306 11,000 5,314 214 31,864 25,661 Support costs Management Salaries & wages Redundarscy & severance payment Carried forward 299,684 242,683 7,484 250,167 299,684 This page does not form part of the ststutory financlal statements Page 15
MRC Community Action Detailed Statement of Financial Activities for the Year Ended 31 March 2023 2023 2022 Management Brought forward Accountancy Insurance Light and heat Telephone & Fax Postage and stationery IT equipment & repairs Repairs & maintenance Cleaning 299,684 3,080 3,965 24,724 5,031 3,444 5,739 17,539 1,438 250,167 5,432 6,353 17,495 5,340 2,922 6,027 36,373 721 364,644 330,830 Flnance Bank charges 3,567 3,391 Human resources Freehold property Fixtures and fittings Motor vehicles 4,048 3,983 8,575 4,048 3,782 8,997 16,606 16,827 Total resources expended 533,556 489,628 Net income/(expenditure) 1,744 (7,419) This page does not form part of the statutory financial statements Page 16