ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022
2MT
(MITCHELL MINISTRIES) CHARITY REGISTRATION NUMBER 1069653
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
2MT
(MITCHELL MINISTRIES) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
| Page | |
|---|---|
| Legal and Administrative Information | 3 |
| Trustees' Report | 4 to 6 |
| Independent Examiner's Report on the Accounts | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Accounts | 10 to 16 |
2MT (MITCHELL MINISTRIES) LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
1069653
WORKING NAMES
Mitchell Ministries Passion 2MT MBPTC
START OF FINANCIAL YEAR
01 April 2021
END OF FINANCIAL YEAR 31 March 2022 TRUSTEES AT 31 MARCH 2022
Mr Jonathan Prestwich Mrs Angela Jane Prestwich Dr Michael Winter Mrs Abigail Winter Mrs Sharon Michelle Dobson Angela Margaret Young JP
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
GOVERNING INSTRUMENT
Declaration of Trust dated 28 February 1997 as varied by Deeds dated 23 December 1998 and 28 January 2000 and 14 May 2011.
LEGAL STATUS
Unincorporated Charity
OBJECTS
To advance Christian religion and to continue the existing and growing work of the ministry in Great Britain and in such other place or places as shall be decided upon by (a) proclaiming and furthering the gospel of God concerning his Son Jesus Christ our Lord and the preaching and teaching of the uncompromised word of God consistently with the statement of faith set forth in the schedule to the declaration of trust dated 28 February 1997 and (b) (i) facilitating the reconciliation ministry of 2.Cor 5.12-17 between national, relational, sociocultural, generational, dispositional gender and denominational divides and ii) Advance education amongst members of the community for the benefit of the community and social cohesion.
CORRESPONDENCE ADDRESS
Oak Royd 21 Stankelt Road Silverdale Carnforth Lancashire LA50TF
PRIMARY BANKERS
Barclays Bank Plc Islington & Camden Branch 38 Islington Green N1 8EH
The Cumberland Building Society 38 Fisher Street Carlisle
INDEPENDENT EXAMINER
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
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2MT (MITCHELL MINISTRIES) TRUSTEES' REPORT FOR THE YEAR ENDED 31ST MARCH 2022
Charity Name: Mitchell Ministries (2MT) Charity registration number: 1069653
1. People and purposes
The Mitchell Ministries charity is ongoingly administered by the trustees, Sharon Dobson, Angela Young, Angela Prestwich, Jonathan Prestwich, Abby Winter and Mike Winter who continues as chair. Roger and Sue Mitchell continue to execute the work of the trust, while Ian Edwards handles our bookkeeping. Sue is the senior coordinator of our work with the Morecambe Bay Poverty Truth Commission.
This year we continued to pursue our objectives of promoting incarnational faith by working across social, gender, racial, religious and class boundaries for the promotion of overall wellbeing. We seek to enable and resource individuals and charitable, ecclesial and statutory organisations to work together to achieve change by peaceful and loving means. This is in line with the strap-line of the charity’s present operating name of 2MT 'facilitating effective change.' Our ethos and strategy of operation is to serve these relationships as invited, to set up new initiatives where necessary and to support the reframing of mind-sets and structures, enabling collaboration and more effective engagement with local communities. We provide consultation, administration, training, resources and coaching support with a view to selfsustainability.
In common with the experiences of many, this year our work was still somewhat constrained and reshaped by the pandemic and the related lockdowns, meeting and travel restrictions affecting our region and indeed the whole world. The friary aspect of our work was able to function again from time to time, while the friary office facilities continued and we hosted many online events both locally, nationally and internationally.
2. Activities
a) Morecambe Bay Poverty Truth Commission
This year we have continued in our role as facilitators of the Morecambe Bay Poverty Truth Commission. With the help of funds secured for Round Two of MBPTC from the National Lottery we were able to contract a second part-time development worker, Phil Sykes, to work alongside Ally Mackenzie. This proved an excellent appointment and added Phil’s media and youth expertise to Ally’s exceptional empathetic people skills. Sue Mitchell continued in her role as senior coordinator and both she and Roger Mitchell continued to give their time to the facilitation team of MBPTC with Angela Young, our trustee. As a result the preparation work for the launch event continued apace (which happened successfully in June 2022). A local council of advisors continued to meet quarterly.
b) Academic engagement
Roger remains a faculty member of the Westminster Theological Centre, and updated his course on Peace, Reconciliation and the Politics of Jesus in readiness for the 2022-23 academic year. Sue continues to develop and use her expertise in Positive Psychology to resource our ongoing individual and corporate coaching, both locally and nationally. Both Sue and Roger continue as honorary researchers in the Centre for Alternatives to Social and Economic Inequalities in the Sociology Department at Lancaster University which continues to be a helpful umbrella for our work alongside both MBPTC, the Morecambe Bay Love and Kindness movement and in promoting kenarchy generally.
c) Theological research
Roger and Sue continue to facilitate the Ashburnham Kingdom Theology Research Initiative working in partnership with Ashburnham Christian Trust and held a successful two day theology dig at Ashburnham Place in October 2021. The Kenarchy Journal Volumes Two and Three were published successfully in mid-2021 and early 2022. We were approached by the Institute for Religion, Truth and Justice and after a helpful discussion process have agreed the terms of an exciting partnership. Volume Four (due in October 2022) will be the first joint venture.
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2MT (MITCHELL MINISTRIES) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31ST MARCH 2022
c) Continuing work towards deep structural social transition.
Alongside our work in facilitating MBPTC we continued with a raft of initiatives and relationships in support of a more cohesive and caring society. The impact of Julie Tomlin (of SHED) coming to be based in Lancaster has sharpened our sight and involvement with potential projects of a more adaptive and sustainable response to social and climate change. We began to work with her to develop even more far-reaching collaborative and strategic partnerships across the region.
d) Sue Mitchell Coaching.
Sue has continued with her coaching work, which became more hybrid with the lessening of Covid restrictions with a core of clients both on-line and in face to face meetings.
e) The Art of Hosting
This year Sue continued to work closely with the international initiative for hosting and harvesting meaningful conversations and was part of a significant series of online training events.
f) Guest and retreats
We were able to begin to host a number of friary visitors again, and in particular an exciting theology retreat around Mike Love’s PhD research on political theology.
g) Local and UK connections
We continued our support and involvement with Liberty International and Interprayer. Roger agreed to continue as chair of Ashburnham Christian Trust, with the intent of transitioning from his role as chair over the next 3 years. Sue continued to provide them with online coaching support.
h) Administration
Sue Mitchell, assisted by co-director Roger Mitchell undertake all the necessary administration of the trust. We continue to be very appreciative of the excellent care of Mike Winter and Intrica for our IT provision, and financial administrative help from Ian Edwards.
i) International work
We continued to connect virtually with Martin & Gayle Scott in Spain, Sam Cooper and Michael Lafleur in Canada and with our other strategic friends in wider Europe.
j) Social Networking
Roger has continued to see an encouraging increase in social networking connections. He has increased his presence on Facebook while continuing to use Twitter and his own blog www.rogerhaydonmitchell.wordpress.com. He continues to develop his Academia site under the auspices of The Westminster Theological Centre.
k) Wider Consultation
Roger continued as chair of trustees of ACT, and Interprayer, which Sue also continued to serve with administrative support.
l) Roger’s academic and theological work developed this year into beginning to write a series of novels, a ‘fantastic history’ of his earlier historico-political study. (He finished the first of the series in June 2022.)
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2MT (MITCHELL MINISTRIES) TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31ST MARCH 2022
m) Relationships between the charity and connected organisations and charities
As part of our aim is to build relational networks, we constantly work to establish good relationships with other church or charitable ministries and trusts. As pandemic restrictions ebbed and waned this continued mainly via social networking and virtual meetings online. Any earmarked monies donated for charitable purposes via MM to specific ends continued to be received and dispersed as instructed and required.
3) Structure, Governance and Management
a) Trustees Responsibilities
We are a faith ministry. We are grateful for the continuing support of many individuals in touch with us as we determine our strategy and objectives for each year and proceed on the expectation that there will be enough resources to meet them. We have continued to receive regular and one off support, and are extremely grateful for the grants we have received to enable the work of MBPTC, and Morecambe Bay Love and Kindness Movement and PTC, as well as general grants and gifts for the general expenses of our work. The Trustees met twice virtually this year, and continued to be on hand by phone or email to check on and authorise income/ expenditure flow, or give any other advice as necessary.
b) Legal Requirements
Mitchell Ministries (2MT) is a trust incorporated by association. The Charities Act 1993 require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the surplus of the trust for that period. In preparing those financial statements the trustees are required to make financial judgements and estimates that are reasonable and prudent and keep proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. These requirements have once again been fulfilled to the Trustees’ satisfaction and the trustees have continued to have regard to the guidance issued by the Charity Commission on public benefit.
4. Financial Review
a) Review of the charity’s financial position at the end of the period
The income for the year was £69,513 and expenditure was £63,009. The National Lottery provided significant funds for MBPTC and SHED for our role in the wider work locally. We continued to be enormously grateful to a committed number of regular supporters, who have continued to give on a monthly or annual basis to make the work of Mitchell Ministries possible. As a result we have been able to proceed well within the budget and funds provided.
b) Statement explaining the policy for holding reserves stating why they are held
We hold any earmarked funds ring-fenced for their stated purpose. We continue to keep a cushion of reserves but, as a seeding agency which takes initiative to establish what does not yet exist, are committed to never hoarding resources or building up excessive reserves.
Approved by the Trustees on…..................................... 6th August 2022 Signed on their behalf by Trustee ….............................. Printed Name: Mike Winter
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2MT (MITCHELL MINISTRIES) INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022
Report to the trustees/ members of 2MT (MITCHELL MINISTRIES on the accounts for the year ended 31st March 2022.
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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 the 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 statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
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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 Charities Act; and
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· to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 28th November 2022
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2MT
(MITCHELL MINISTRIES) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022
| Notes INCOMING RESOURCES Donations & Legacies 3a Charitable Activities 3b Investment Income 3c Other Income 3d TOTAL INCOMING RESOURCES PAYMENTS Costs of Charitable Activities 4a Costs of Generating Funds 4b NET INCOME/(EXPENDITURE Total Funds Brought Forward Prior Year Adjustment TOTAL FUNDS CARRIED FORWARD TRANSFER BETWEEN FUNDS TOTAL EXPENDITURE NET MOVEMENT IN FUNDS |
TOTAL TOTAL Unrestricted MBPTC Passion 2021/22 2020/21 Funds Fund Fund £ £ £ £ £ 21,943 40,000 - 61,943 82,134 72 - - 72 25 - 26 - 26 6 718 250 - 968 597 Restricted |
|---|---|
| 22,733 40,276 - 63,009 82,763 |
|
| 23,684 29,933 - 53,617 68,938 55 - 200 255 - |
|
| 23,739 29,933 200 53,872 68,938 |
|
| (1,006) 10,344 (200) 9,138 13,824 - - - - - |
|
| (1,006) 10,344 (200) 9,138 13,824 |
|
| 24,755 29,170 5,641 59,566 45,847 - - - - (105) |
|
| 23,749 39,514 5,441 68,703 59,566 |
Movements on all reserves and all recognised gains and losses are shown above. All the organisation's operations are classed as continuing.
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2MT (MITCHELL MINISTRIES) BALANCE SHEET AS AT 31 MARCH 2022
| Notes Assets Tangible Assets 2 Current Assets 8 Stocks 7 6 Total Current Assets 9 10 5 General Funds TOTAL FUNDS FUNDS OF THE CHARITY NET ASSETS/ (LIABILITIES) Debtors & Prepayments Cash at bank and in hand Creditors:amounts Liabilities falling due within one year NET CURRENT ASSETS TOTAL ASSETSless current liabilities Restricted funds Creditors:Long Term |
TOTAL TOTAL Unrestricted MBPTC Passion 2021/22 2020/21 Funds Fund Fund £ £ £ £ £ - - - - - 1,361 - - 1,361 703 260 - - 260 260 22,938 39,514 5,441 67,893 60,500 Restricted |
|---|---|
| 24,559 39,514 5,441 69,513 61,463 |
|
| 810 - - 810 1,898 23,749 39,514 5,441 68,703 59,566 |
|
| 23,749 39,514 5,441 68,703 59,566 - - - - - |
|
| 23,749 39,514 5,441 68,703 59,566 |
|
| 23,749 - - 23,749 24,755 - 39,514 5,441 44,955 34,811 |
|
| 23,749 39,514 5,441 68,703 59,566 |
Approved by the Trustees on ….................................... 6th August 2022 Signed on their behalf by Trustee ….............................. Printed Name: Mike Winter
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2MT (MITCHELL MINISTRIES) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
Basis of preparation:
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
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the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Incoming Resources with Related expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the tax reclaim is received.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.
Volunteer Help
The value of any voluntary help received is not included in the accounts and is described in the Trustees' Report.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
This page does not form part of the statutory financial statements
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2MT (MITCHELL MINISTRIES) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Pensions
Pension contributions are charged to the Statement of Financial Activities as they become payable.
Fund Accounting
Funds held by the charity are either:
1. Unrestricted funds
These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
2. Restricted funds
These are funds that can only be used for particular restricted purposes within the objects of the charity.
3. Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
General Equipment
25%
There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.
2. TANGIBLE FIXED ASSETS
The Charity held no fixed assets investments during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2022 : None
This page does not form part of the statutory financial statements
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2MT (MITCHELL MINISTRIES) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022
3. INCOMING RESOURCES
| 3. INCOMING RESOURCES | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Restricted | TOTAL | TOTAL | |||||||
| Notes | Unrestricted | MBPTC | Passion | 2021/22 | 2020/21 | ||||
| Funds | Fund | Fund | |||||||
| £ | £ | £ | £ | £ | |||||
| a) Donations & Legacies | |||||||||
| Earmarked Income | - | - | - | - | 40 | ||||
| Friary Guests Donations | 1,020 | - | - | 1,020 | - | ||||
| Funding Income | 10,000 | 40,000 | - | 50,000 | 61,950 | ||||
| General Giving | - | - | - | - | 500 | ||||
| Ministry Giving | 5,466 | - | - | 5,466 | 14,499 | ||||
| Regular Giving | 2,320 | - | - | 2,320 | 2,520 | ||||
| Tax Recovered | 1,148 | - | - | 1,148 | 585 | ||||
| Voluntary Giving | 1,990 | - | - | 1,990 | 2,040 | ||||
| 21,943 | 40,000 | - | 61,943 | 82,134 | |||||
| b) Incoming from Charitable Activities | |||||||||
| Sales (Primary Purpose Trading) | 72 | - | - | 72 | 25 | ||||
| 72 | - | - | 72 | 25 | |||||
| c) Investment Income | |||||||||
| Bank Interest | - | 26 | - | 26 | 6 | ||||
| - | 26 | - | 26 | 6 | |||||
| d) Other Income | |||||||||
| Contribution to Expenses | 718 | - | - | 718 | 97 | ||||
| Other income | - | 250 | - | 250 | 500 | ||||
| 718 | 250 | - | 968 | 597 |
This page does not form part of the statutory financial statements
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2MT
(MITCHELL MINISTRIES)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2022
| 4. RESOURCES EXPENDED Notes b) Activities for Generating Funds Earmarked Expenditure Realised loss on Foreign Exchange Currency Sundry Expenses Telephone Costs Room Hire Household Purchases Household Maintenance Conference Costs Equipment and Computer Costs Accommodation Costs a) Charitable Activities Insurance Costs Goverance costs:- Sessional Workers Fees Household Legal/Insurance Friary Expenses: Catering Costs Bank and Card Charges Independent Examiners Fees University Study Travel & Subsistence Training Costs Gifts & Donations Hospitality Costs Internet Expenses Licences & Subscriptions Printing, Postage & Stationery Household Utility Costs |
TOTAL TOTAL Unrestricted MBPTC Passion 2021/22 2020/21 Funds Fund Fund £ £ £ £ 267 - - 267 - 145 - - 145 50 567 4 - 572 2,863 1,556 - - 1,556 213 2,083 - - 2,083 6,199 2,455 - - 2,455 1,788 3,654 - - 3,654 3,447 711 - - 711 683 - 250 - 250 14,890 451 3,002 - 3,452 670 619 72 - 691 959 1,136 750 - 1,886 1,363 238 108 - 347 182 - 356 - 356 188 2,500 24,394 - 26,894 29,855 23 - - 23 168 738 290 - 1,028 965 - - - - 455 4,606 670 - 5,276 1,910 304 - - 304 468 110 36 - 146 129 810 - - 810 810 711 - - 711 683 Restricted |
|---|---|
| 23,684 29,933 - 53,617 68,938 |
|
| - - 200 200 - 55 - - 55 - |
|
| 55 - 200 255 - |
This page does not form part of the statutory financial statements
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2MT (MITCHELL MINISTRIES) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| Balance | Gains & | Balance | ||||||
|---|---|---|---|---|---|---|---|---|
| 01-Apr-21 | Income | Expenditure | (Losses) | Transfer | 31-Mar-22 | |||
| £ | £ | £ | £ | £ | ||||
| Morecambe Bay Poverty | 29,170 | 40,276 | (29,933) | - | - | 39,514 | ||
| Passion Earmarked Funds | 5,641 | - | (200) | - | - | 5,441 | ||
| 34,811 | 40,276 | (30,133) | - | - | 44,955 | |||
| PREVIOUS FINANCIAL | YEAR | |||||||
| Balance | Gains & | Balance | ||||||
| 01-Apr-20 | Income | Expenditure | (Losses) | Transfer | 31-Mar-21 | |||
| £ | £ | £ | £ | £ | ||||
| Morecambe Bay Poverty | 19,279 | 32,456 | (22,565) | - | - | 29,170 | ||
| Passion Earmarked Funds | 19,991 | 40 | (14,390) | - | - | 5,641 | ||
| 39,270 | 32,496 | (36,955) | - | - | 34,811 |
Morecambe Bay Poverty Truth Commission Fund
The restricted funds represent funds received from a variety of funders for the Morecambe Bay Poverty Truth Commission (MBPTC). The funders have stated that these funds are specifically for the MBPTC project and can NOT be used for the general charitable activities of the 2MT (Mitchell Ministries) Trust, which has been confirmed by the Trustees.
Passion Earmarked Funds
The restricted funds represent funds received from Seedbed Christian Trust and S.H.E.D (Sustainability. Health. Environment. Development) for the purpose of our investing them into new local community projects as seed funding in accordance with our trust deed.
The restricted funds held are wholly represented by the cash reserves of the Charity.
This page does not form part of the statutory financial statements
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2MT
(MITCHELL MINISTRIES) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
6. INVESTMENTS
The Charity held no investment assets during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| 7. STOCKS Passion Stock Euro Cash Reserve MBPTC Bank Account MBPTC Savings Account MBPTC Petty Cash Passion General Account Passion 2 Account 2MT Petty Cash Euro Bank Account 2MT Bank Account |
TOTAL TOTAL Unrestricted MBPTC Passion 2021/22 2020/21 Funds Fund Fund £ £ £ £ 10,534 - - 10,534 5,837 - - 5,441 5,441 8,141 12,384 - - 12,384 15,598 16 - - 16 16 - - - - 1,733 4 - - 4 4 - 30,835 - 30,835 28,119 - 8,500 - 8,500 1,000 - 179 - 179 51 Restricted |
|---|---|
| 22,938 39,514 5,441 67,893 60,500 |
|
| TOTAL TOTAL Unrestricted MBPTC Passion 2021/22 2020/21 Funds Fund Fund £ £ £ £ 260 - - 260 260 Restricted |
|
| 260 - - 260 260 |
Stock comprises of goods for resale in order to generate income to further the Charity's objects. Stock is valued at the lower of cost and net realisable value.
8. DEBTORS AND PREPAYMENTS
| Euro Bank Account Other debtor Barclaycard Gift Aid Tax Recoverable |
TOTAL TOTAL Unrestricted MBPTC Passion 2021/22 2020/21 Funds Fund Fund £ £ £ £ 1,148 - - 1,148 585 - - - - 118 (0) - - (0) - 213 - - 213 - Restricted |
|---|---|
| 1,361 - - 1,361 703 |
9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiner's Fee R&S Mitchell |
TOTAL TOTAL Unrestricted MBPTC Passion 2021/22 2020/21 Funds Fund Fund £ £ £ £ - - - - 1,088 810 - - 810 810 Restricted |
|---|---|
| 810 - - 810 1,898 |
This page does not form part of the statutory financial statements
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2MT (MITCHELL MINISTRIES) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022
10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial period.
11. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL
The charity has no direct employees, but the charitable work is carried out by self employed people who invoice the charity accordingly. Fees totalling £26,894 were paid during the year (2020/21 £29,855).
Self employed sessional workers who were engaged in each of the following activities:
| TOTAL | TOTAL | |||
|---|---|---|---|---|
| 2021/22 | 2020/21 | |||
| Activities in furtherance of organisation's objects | 3 | 3 |
The key management personnel of the charity comprise the Trustees and the Consultants/Sessional Workers. The Trustees are not remunerated and consultancy fees of £26,894 (2020/21 £29,855) were paid to sessional workers during the year.
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible Fixed Assets Net Current Assets Long Term Liabilities TOTAL FUNDS |
TOTAL TOTAL Unrestricted MBPTC Passion 2021/22 2020/21 Funds Fund Fund £ £ £ £ - - - - - 23,749 39,514 5,441 68,703 59,566 - - - - - Restricted |
|---|---|
| 23,749 39,514 5,441 68,703 59,566 |
13. PAYMENTS TO TRUSTEES AND RELATED PARTY TRANSACTIONS
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them. 31st Mar 2021 : None
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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