MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD TRUSTEES ANNUAL REPORT and ACCOUNTS coverin the ear ended 3 1st December 2023
MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD CONTENTS TRUSTEES ANNUAL REPORT tNDEPENDENT EXAMINERS REPORT STATEMENT OF FtNANCIAL ACTIVITIES BALANCE SHEET NOTES FORMtNG PART OF THE FINANCIAL STATEMENTS 7-12
Mach Ileth and District Care Centre Trust Ltd TRUSTEES ANNUAL REPORT for the Year Ended 31 st December 2023 The trustees present their report and financial statements for the year ended 31" December 2023. REFERENCE AND ADMINISTRATIVE INFOR1TIoN Charity Name Machynllcth and District Care Centr¢ Trust Ltd Charity Regi.8tration Numbcr 1061445 Company Registration Number 3292600 Registered Office and Operational Address Machynlleth and District Care Centre Forge Road Machynlleth Powys SY20 8EQ Trustees The following served &8 trustees during the year Mr l.R. Warren (Chairnian) Mrs B.G. Jones Mrs E.J. Jones Ms M. Rees Mrs E.E.R. Pugh Mrs J.E Warren-Kyle Mrs C. Upadhyay Mr J.M Williams A¢¢ountants Major and Evans, Bull House, 15 Penrallt StreeL Machynlleth, PoThys, SY20 8AG. Bankers NatWesL Aberystty Branch (B), PO Box 5. Owain Glyndwr Square, Aberystwyth, Ceredigion, SY23 2NB.
Mach Ileth and District Care Centre Trust Ltd TRUSTEES ANNUAL REPORT for the Year Ended 31 st December 2023 STRUCUTURE, GOVERNANCE AND MANAGEMENT The organisation is a charitable company limited by guarantee, Incoorated on I l December 1996. The company was established under a memorandum of Association which ¢stablishc5 its objccts and powers and is governed under its Articles of Association. In the event of the charity being wound up members are required to contributc an amount not exceeding £1 . ORIECTIVES AND ACTIVITIES The objects of the charity are: to provide for the public benefit of the inhabitants of Machynllcth and the surrounding are&8, in the following ways: i) To provide facilities in the interest of social welfare for recreation and leisure time occupation with the object of improving the life of such persons. To relieve poverty Én particular. but not exclusively, by provision of counselling and advice services. To protect and preserve the good health of such persons and to relieve sickness by the provision of services and facilities not norn]ally provided by the ststutory authorities for the benefit of the inhabitants who are sick, elderly, infinn or who are physically of mentally disabled. ACHIEVEMENTS AND PERFORMANCE The charity continues to work towards its objectives by the successful operation of Machynlleth and District Care Centre. FINANCIAL REVIEW The Statement of Financial Activities shows total income of £38,748 and expenditure of £44.105 resulting in net expenditure of £5,357 (2022 - £6,827 net Expendlture). The capital expenditure during 2023 was Nil (2022 -Nil ) TRUSTEES RESPONSIBILITIES Thc trustees ar¢ also company directors for the purpose of company law. Company law quireS the directors to prepare financial statements for each financial year which give a true and fair view of the state of the company and of th¢ surplus/deficit of thc company for that period. In preparing these financial statements, the directors are requircd to: select suitable accounting policies and apply them consistently. make judgements and estimates that are reasonable and prudent. and prepare the financial statements on a going concern basis, unless it is inappropriate to assume that the company will continue to operate. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company, and hence for taking reasonable steps for th¢ pr¢vention and detection of fraud and other Iegular1ties.
Mach Ileth and District Care Centre Trust Ltd TRUSTEES ANNUAL REPORT for the Year Ended 31 st December 2023 PUBLIC BENEFTT STATEMENT In exercising their powers, the trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission. SIWL COMPANY RULES The company has taken advantage of the small companies exemption in preparing the report above. By Order of the Board J.L. Brunton - Company Secretsry 16th septnber 2024
tNDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MACHYNLLETH AND DISTRtCT CARE CENTRE TRUST LIMITED I report on the accounts of the company for the year ended 31 $1 December 2023, which are set out on pages 5 to 12. Respective Responsibilities of Trustees and ELqminer The trustees (who are also the directors of the company for the pUoSe of company law) are responsible for the preparation of the accounts. Th¢ trustees consider that an audit is not required for this year under section 144{2) of the Charilies Act 2011 (the 201 l Act) and that an independent examination is needed. I laving satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my SponSibl11ty to: Examine the accounts under section 145 of the 201 l Act To follow the procedures laid down in the general Dircctions given by the Charity Commission under section 145(5)(b) of the 2011 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 accounling records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusal items or disclosures in the accounts, and seeking explanations from you as trustees ¢on¢erning 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 statement below. Independent Examiner's Statement In connection with my cxamination. no matter has come to my attention ". l ) Which gives me a reasonable cause to believe that in any material respect the requirements . to keep accounting records in accordance with section 386 of the Companies Act 2006" and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with thc mcthods and principles of the Statement of Recommended Practice." Accounting and Reporting by Charities (FRS 102) 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, R W Evans Bsc Eeon{Hons), FCCA Major and Evans, Chartered Ccrtificd Accountants, Bull House, 15 Penrallt Street, Machynlleth, Powys 16th September 2024
MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account} For the Year Ended 31st December 2023 Notes Unrestricted Fund Endowment Fund Total .2023 Totsl 2022 Income Operntion ofcare Centre Donations and Legacies Investment Income 37,715 165 868 37,715 165 868 39,898 165 175 Total Income 38,748 38,748 40,238 Expenditure Cost of operating Care Centre 44.105 44,105 47,065 Net Income l (Expenditure) (5J57) (5J57) (6,827) Transfers between funds Net Movement in Funds (5,357) (5,357) (6.827) Funds brought forward 106,939 341,884 448,823 455,650 Funds carried forward IOlJ82 341,884 443,466 448,823
MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD BALANCE SHEET As at 3 Ist December 2023 Notes 2023 2022 FIXED ASSETS Tangible Assets 416,515 416,740 CURRENT ASSETS Debtors Cash at Bank and in Hand 2.970 80.318 83,288 6,025 84,891 90,916 CREDITORS - amounts falling due within one year 6,337 8,833 NET CURRENT ASSETS 76,951 493,466 82,083 498,823 CREDITORS - amounts falling due after more than one year io (50,000) (50,000) TOTAL NET ASSETS 443.466 448,823 CAPITAL FUND Endowrneni 341,884 341,884 INCOME FUND - Unrestricted 12 101,582 106,939 443,466 448.823 The company was entitled to exempiion from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the compnay to obtain an audit in accordance with s 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirernents of the Companies Act with respect to accounting records ad the preparation of accounts. These accounts have been prepared in ac¢ordan¢¢ with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS 102 SORP. Th¢s¢ financial statements were appToved by the directors and authorised for is5u¢ on 16th Septemr 2024 and are signed on their behalf by: Mrs E.E.R. Pugh - Director Mrs C. Upadhyay- Diiector Company Registration Number: 3292600
MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD NOTES FORMING PART OF THE FINANCIAL STATEMENTS st for the Year Ended 31 December 2023 l. Aceounting Policies a) Basis of Preparation of Financial Statements The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of R¢comm¢nded Prd¢tic¢ applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland (FRS 102) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102) and the Companics Act 2006. Machynlleth and District Care Ccntrc Trust Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. b) Income All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is taken as the earlier of the date on which either.. the company is aware that probate has been granted, the estate has been finalised and notification has been mad¢ by the executoi(s) to the company that a distribution will be made, or when a notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of pmbate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are reeognised when the company has control over the item, any conditions associated with the donated item have bcen met, the receipt of econoTnic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), gcncral volunteer time is not rccognised. ¢) Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probabl¢ that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is directly attributed to the relevant cost category in the Statement of Financial Activities.
MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD NOTES FORMING PART OF THE FINANCIAL STATEMENTS li for the Y¢Ar Ended 31$t Deeember 2023 conlinued d) Tangible Fixed Assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each assct over its exp¢ctcd useful life as follows". i) Leasehold property - over the period of the lease. ii) Fixtures, fittings and ¢quipmcnt- 20-33 ⅓Q/o annum (reducing balance method). e) Debtors Trade and other debtors are recogniscd at the scttlcment amount due after any trade discount offered. Prepayments are valued at the amount prepaid. D Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to s¢ttle the obligation can be measured or estimatsd reliably. Creditors and provisions are nonnally Tecognised at their settlement amount after allowing for any trade discounts due. g) Financial Instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrnments are initially recognised at transaction value and subsequently measured at their settlemcnt value. h) Funds i) Endowment Fund Grants which have been given to the Charity subject to the restriction that they are to be used to purchase or enhanc¢ the capital assets are treated as endowment funds. ii) Restricted funds Income received from public sector bodies and others to be used in furtherance of particular aspects of the Charity are Separat and treated as restricted funds. iii) Unr¢stri¢ted Funds Unrestricted funds are donations and other income resources receivable or for the objects of the Charity without further specified purpose and are available as general funds.
MACHYNLLETH AND DISTRicf CARE CENTRE TRUST LTD NOTES FORMING PART OF THE FINANCIAL STA TEMENTS for the ar ¢nded 31 st D¢c¢mber 2023 continued Income from Operation of Care Centre 2023 2022 Rental Income Recharged Expenses 28,325 9.390 31,083 8.815 37.715 39,898 Cosls of Operating the Care Centre 2023 2022 Staff Salaries and National Insurance Contributions Pension Contributtons Water Charges Heat and Light Insurance RepaTrs and Maintenance Telephone Poslage and Stationery Bank Charges Accountancy Payroll Services Miscellaneous Depreciation 17,040 324 1,314 14.259 1,010 6,973 881 202 104 1,092 360 320 226 17,040 324 975 10,959 962 13,774 848 246 94 1,040 270 239 294 44,105 47.065 Staff 2023 2022 Total Staff Costs Comprised.. Wages and Salaries Pension Contributions 17,040 324 17,364 17.040 324 17,364 The average number of employees in the year was l (2022 - 1) The dlrectors were noi paid or reimbursed for expenses during the year.
MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the ear ended 31 st December 2023 continued Transfers between Funds Unrestricted Funds Endowment Fund a) Capital recognised as expended by means of notional charge for depreciation Fixed Assets Tangible Assets Freehold Pro erl rovement5 Furniture Filtin and ui ment Total Cost: At I st January 2023 AdditioT]s Disposals 415.706 8,874 424.580 415,706 8,874 424,580 Depreciation: At I st January 2023 Charge in Year Disposals 7,840 225 7,840 225 8,065 8,065 Net Book Value At 31 st December 2023 415,706 809 £ 416,515 Net Book Value At 31st December 2022 415,706 1,034 £ 416,740
MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD NOTES FORMING PART OF THE FINANCIAL STATEMEI¥4TS for the vear ended 31 st December 2023 continued Debtors 2023 2022 Trade Debtors Accrued Income 2,970 4,370 1.655 2,970 6,025 Cash at Bank and in Hand 2023 2022 Current Account Deposlt Account Cash in Hand 7,950 72,327 41 8,581 76,294 16 80,318 84.891 Creditors: amounts falling due within one year 2023 2022 Loans (Unsecured) Accruals and deferred income Othcr Crcditors 3.000 3,218 119 3.000 5,714 119 6,337 8,833 10. Creditors: amountq falling due after one year 2023 2021 Loans (Secured) 50,000 50,000 The loan of £50,000 from Machynlleih Hospital League of Friends is s¢¢ured by a legal charge on the freehold property.
MACHYNLLETH AND DISTRICT CARE CENTRE TRUST LTD NOTES FORMING PART OF THE FINANCIAL STATEMENTS for the ear ended 31 st December 2023 continued EndoTrvment Fund Balance 31.12.22 Transfer Balance 31.12.23 341,884 341,884 The endowment fund r¢pr¢s¢nts grants received from the National Lottery Charities Board for the acquisition, refurbishment and tmprovemenl of the old Machynlleih. Corris and District Hospital bullding together with fumiture, fittings and equipment less the accumulated depreciation provided on those assets, 12. Analysis of Net Assets between Funds Tangible Fixed Assets Net Current Assets Total Endowment fund Unreslricted fund 341,884 74.631 416,515 341,884 101,582 443.466 76.951 76.951 (50,000) 150,0001 12