ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022
NEW LIFE CHURCH CARDIGAN TRUST
CHARITY REGISTRATION NUMBER 1080146
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
NEW LIFE CHURCH CARDIGAN TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
| Page | |
|---|---|
| Legal and Administrative Information | 3 |
| Trustees' Report | 4 to 5 |
| Independent Examiner's Report on the Accounts | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9 to 17 |
NEW LIFE CHURCH CARDIGAN TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1080146 WORKING NAMES NLCC START OF FINANCIAL YEAR 01 January 2022 END OF FINANCIAL YEAR 31 December 2022 TRUSTEES AT 31 DECEMBER 2022 Doug Bell Janice Bell Tom Taylor Jackie Taylor
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
LEGAL STATUS Unincorporated Trust GOVERNING INSTRUMENT Declaration of Trust 29th February 2000 REGISTRATION DATE 31st March 2000:Standard registration
OBJECTS
To advance the Christian faith in accordance with the statement of beliefs appearing in the schedule hereto in the counties of Ceredigion and Pembrokeshire and in such other parts of the United Kingdom or the World as the trustees may from time to time think fit.
CORRESPONDENCE ADDRESS Erwdeg Cardigan Ceredigian SA23 2QL PRIMARY BANKERS Barclays Bank Plc 32 High Street Cardigan Dyfed SA43 1HH INDEPENDENT EXAMINER G W Schulz ACMA Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
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NEW LIFE CHURCH CARDIGAN TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022
Trustees
The following trustees have served throughout the accounting period, there have been no new trustees and no trustee has resigned.
Douglas Bell Janice Bell Tom Taylor Jackie Taylor
Doug and Janice Bell are employed by the trust as agreed in the trust deed. Tom & Jackie Taylor give their time freely and none of the trustees claim expenses from the charity during the period concerned.
The everyday running of the charity has continued to be implemented by Doug & Janice Bell in agreement with the Trustees. They keep the Trustees updated on a regular basis and discuss any matters of variation with them.
The Trustees see each other most days during the week and Doug and Janice share with them what is going on, on a continual basis.
Church Activities
Church Services every Sunday. Except for three weeks due to governmental restrictions.
Livestreaming services every Sunday. This is a new venture for us, started during the lockdown and is proving very beneficial.
Weekly on line Zoom meetings for small groups and prayer meetings.
Foodbank continues to meet the need of those needing food parcels—this is an increasing work due to the demand for emergency help being needed. The food is donated through, churches, schools, supermarkets and individual donations.
Christmas Day - the church provided lunch for 100 people most of who came to the building, for others we delivered meals.
The Healing Rooms, mainly met through Zoom during this year because of government restrictions. The AA use one of the rooms each week free of charge for their meeting.
The building work to make the building suitable for our purposes, continues and should be completed 2022. The downstairs of the building is nearly finished and as we come out of restrictions being used more and more.
The work we do in Tanzania has had to stop during this time because of Covid restrictions on travel to that country. We have supported the work we do through Zoom meetings and sending finances so that the people there can carry on with the work of building the Education Centre in Dar es Salaam.
Finances
The funds for the work of the church come in through tithes, offerings and gifts and they are either given each week during the Sunday Service or through our online giving Pay Pal button on the website.
We received a grant from the Welsh Government to change the building from a supermarket into a place of worship and a place which could be used for various activities. This money was match funded by the church.
This work has carried on throughout the Covid under the guidance of the Welsh Governments restrictions for workplaces. We have now completed the grant requirements and the main part of the building is open for the church use and for visitors. We continue the work we do on a faith basis, where we trust God for our provision. However, we do keep in reserve the tax that is due from the Inland Revenue that we are entitled to claim against Covenanted gifts.
Risk Management
The trustees look to identify any risks to which the charity is exposed and to ensure appropriate controls are in place for reasonable assurance against fraud and error.
The Trustees do not perceive any major risks to the charity at this time.
Future Plans
Following what has been a challenging two years for the church, the Church has plans to open an Entertainment Centre in the loft of the building to create employment and volunteering opportunities for the community. Depending on Covid 19 restrictions.
As we move out of Covid restrictions we are looking to reach out to help our community in and creative ways.
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NEW LIFE CHURCH CARDIGAN TRUST
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 7 to 17.
Respective responsibilities of trustees and examiner
As the charity’s trustees of New Life Church Cardigan Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of New Life Church Cardigan Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
Since New Life Church Cardigan Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of New Life Church Cardigan Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
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.
G W Schulz ACMA Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
Date: 29 September 2023
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NEW LIFE CHURCH CARDIGAN TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| Notes INCOMING RESOURCES Donations & Legacies 3a Investment Income 3b Charitable Activities 3c Other Income 3d TOTAL INCOMING RESOURCES PAYMENTS Costs of Charitable Activities 4 NET INCOMING/(OUTGOING) RESOURCES Balances Brought Forward Prior year adjustment BALANCES CARRIED FORWARD TRANSFERS BETWEEN FUNDS NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: RESOURCES EXPENDED |
Unrestricted Restricted Total Total Funds Funds 2022 2021 £ £ £ £ 143,732 - 143,732 287,972 - - - 105 101,337 - 101,337 47,714 42,505 - 42,505 13,000 |
|---|---|
| 287,575 - 287,575 348,791 |
|
| 155,730 - 155,730 188,601 |
|
| 155,730 - 155,730 188,601 |
|
| 131,845 - 131,845 160,190 - - - - |
|
| 131,845 - 131,845 160,190 |
|
| 469,879 30,000 499,879 339,661 - - - 28 |
|
| 601,723 30,000 631,723 499,879 |
Movements on all reserves and all recognised gains and losses are shown above. All the organisation's operations are classed as continuing.
The notes form part of these financial statements, found on pages:-
9 to 17
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NEW LIFE CHURCH CARDIGAN TRUST
BALANCE SHEET AS AT 31 DECEMBER 2022
| Assets Notes Tangible Assets 2 Investment Assets 6 Current Assets Debtors & Prepayments 8 Cash at bank and in hand 7 Total Current Assets Creditors:amounts falling due 9 within one year NET CURRENT ASSETS TOTAL ASSETSless current liabilities Creditors:amounts falling due in more 10 than one year NET ASSETS FUNDS OF THE CHARITY General Funds Restricted funds 5 TOTAL FUNDS Trustees Responsibilities |
Unrestricted Restricted Fund Fund £ £ 722,492 Total Total 31-Dec-22 31-Dec-21 £ £ 722,492 614,532 |
|---|---|
| 722,492 722,492 614,532 |
|
| 17,374 30,000 45,877 47,374 59,157 45,877 2,628 |
|
| 63,251 30,000 93,251 61,785 |
|
| 153,893 (90,642) 30,000 631,850 30,000 30,127 153,893 138,873 (60,642) (77,088) 661,850 537,44 30,127 37,565 |
|
| 601,723 30,000 601,723 30,000 631,723 499,879 601,723 469,879 30,000 30,000 |
|
| 601,723 30,000 631,723 499,879 |
The Charities Act 2011 requires the Trustees to prepare statements for each financial year which give a true and fair vew of the state of affairs of the Trust and of the surplus of the Trust for that year. In preparing those financial statements the Trustees are required to:-
-
Select suitable accounting policies and apply them consistently
-
Make judgements and estimates that are reasonable and prudent
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in existence.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Trust and hence for taking reasonal steps for the prevention and detection of fraud and other irregularites.
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 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.
Cash Flow Statement
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.
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:
-
the charity becomes entitled to the resources;
-
the trustees are virtually certain they will receive the resources; and
-
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.
This page does not form part of the statutory financial statements
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 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.
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%
No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.
There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.
This page does not form part of the statutory financial statements
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
2. TANGIBLE FIXED ASSETS
| Additions Charge for the Year At 31 December 2022 Net Book Value At 31 December 2022 At 1 January 2022 Cost At 1 January 2022 At 31 December 2022 Accumulated Depreciation At 1 January 2022 |
Land & Building General Equipment 2022 £ £ £ 614,532 18,292 632,824 107,960 - 107,960 |
|---|---|
| 722,492 18,292 740,784 |
|
| - 18,292 18,292 - - - |
|
| - 18,292 18,292 |
|
| 722,492 - 722,492 |
|
| 614,532 - 614,532 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2022 : None 31st December 2021 : None
This page does not form part of the statutory financial statements
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
3. INCOMING RESOURCES
| Note c) Charitable Activities d) Other Incoming Resources Food Bank Market Hall NLCP - Market Hall Utilities Loan D & J Bell Other loans-B Brinsdon Other loans-A Greenshields Paypal NLCP-Missions New Build NLCP -Rent The Loft Welsh Government Grant b) Investment Income Interest Received Paypal income Covenanted Tithes Gifts & Offerings Weekly Offering Gift Aid Tax Recoverable a) Donations & Legacies & Similar Income |
Unrestricted Restricted Total Total Funds Funds 2022 2021 £ £ £ £ 30,614 - 30,614 68,755 24,719 - 24,719 16,654 28,683 - 28,683 38,900 9,717 - 9,717 18,300 50,000 - 50,000 124,725 - - - 20,638 |
|---|---|
| 143,732 - 143,732 287,972 |
|
| - - - 105 |
|
| - - - 105 |
|
| 31,424 - 31,424 23,522 28,787 - 28,787 - 3,042 - 3,042 - - - - 1,084 3,202 - 3,202 3,570 9,000 - 9,000 19,539 25,771 - 25,771 - |
|
| 101,337 - 101,337 47,714 |
|
| 6,850 - 6,850 13,000 10,000 - 10,000 - 5,000 - 5,000 - 16,325 - 16,325 - |
|
| 42,505 - 42,505 13,000 |
This page does not form part of the statutory financial statements
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
| 4. RESOURCES EXPENDED Note Building overhead breakdown:- Lease Insurance Heat/Light Insurance Costs Legal & Professional fees Paypal Governance costs:- Independent Examiner Fee Bank & Interest Charges IT Expenses Lease (operating) License & Subscriptions New Life Community Projects Printing, Postage & Stationery Refreshment Costs Repairs & Maintenance Interest Charitable Missions Food Bank Gifts & Ministries Salaries & Wages Sundry Expenses Telephone Costs Utility Costs Mortgage Charitable Activities Admin Advertising & Publicity |
Unrestricted Restricted Funds Funds £ £ 25,038 - 20 - - - 25,633 - 15,269 - 552 - 10,914 - 618 - 9,645 - 488 - 3,236 - 3,015 - 6,775 - 1,121 - 577 - 11,043 - 7,282 - 1,682 - 16,325 - 1,156 - 5,208 - 3,601 - 764 - |
Revised Total Total 2022 2021 £ £ 25,038 1,276 20 300 - 3,490 25,633 8,569 15,269 21,995 552 1,513 10,914 18,188 618 683 9,645 46,454 488 308 3,236 193 3,015 - 6,775 69,032 1,121 395 577 1,003 11,043 9,378 7,282 - 1,682 - 16,325 - 1,156 2,130 5,208 465 3,601 3,230 764 - |
|---|---|---|
| 155,730 - |
155,730 188,601 |
|
| 2022 2021 £ £ 10,914 18,188 2,200 2,100 9,580 9,378 |
||
| 22,694 29,666 |
This page does not form part of the statutory financial statements
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| Balance | Gains & | Balance | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 01-Jan-22 | Income | Expenditure | (Losses) | Transfer | 31-Dec-22 | |||||
| £ | £ | £ | £ | £ | ||||||
| West Side Lower Mwidan - | ||||||||||
| Building Fund | 30,000 | - | - | - | - | 30,000 | ||||
| 30,000 | - | - | - | - | 30,000 | |||||
| PREVIOUS FINANCIAL YEAR | ||||||||||
| Balance | Gains & | Balance | ||||||||
| 01-Jan-21 | Income | Expenditure | (Losses) | Transfer | 31-Dec-21 | |||||
| £ | £ | £ | £ | £ | ||||||
| West Side Lower Mwidan - | ||||||||||
| Building Fund | 30,000 | - | - | - | - | 30,000 | ||||
| 30,000 | - | - | - | - | 30,000 |
The Restricted Funds are wholly represented by the Charity's cash reserves and are to be expended as specified above.
This page does not form part of the statutory financial statements
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
6. INVESTMENTS
The Charity held no investment assets during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| 7. CASH AT BANK AND IN HAND | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 31-Dec-22 | 31-Dec-21 | |
| £ | £ | £ | £ | |
| Cafcash A/c | 45,877 | - | 45,877 | 2,628 |
| 45,877 | - | 45,877 | 2,628 | |
| 8. DEBTORS AND PREPAYMENTS | ||||
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 31-Dec-22 | 31-Dec-21 | |
| £ | £ | £ | £ | |
| New Life Community Project Loans | 17,371 | - | 17,371 | 27,249 |
| West Side Lower Mwidan - Building | - | 30,000 | 30,000 | 30,000 |
| Paypal | 3 | - | 3 | 1,908 |
| 17,374 | 30,000 | 47,374 | 59,157 | |
| 9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
| Revised | ||||
| Unrestricted | Restricted | Total | Total | |
| Funds | Funds | 31-Dec-22 | 31-Dec-21 | |
| £ | £ | £ | £ | |
| Loan DD & JA Bell | 88,772 | - | 88,772 | 88,955 |
| Other Loans | 55,000 | - | 55,000 | 40,000 |
| Stewardship Mortgage | 8,964 | - | 8,964 | 8,808 |
| Independent Examiner's Fee | 1,157 | - | 1,157 | 1,110 |
| 153,893 | - | 153,893 | 138,873 |
Other Loans:- The £40,000 loan is from one of the members of the church who offered to loan the money to help finish the building project. He doesn't want any interest on the loan and there is no time limit to paying back the loan.
10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
| Stewardship Mortgage | Revised Unrestricted Restricted Total Total Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 30,127 - 30,127 37,565 |
|---|---|
| 30,127 - 30,127 37,565 |
This page does not form part of the statutory financial statements
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
| 11. STAFF COSTS AND NUMBERS TOTAL 2022 £ Gross Wages & Salaries 54,464 Employer's National Insurance Costs - Employer's Pension Contributions 731 55,196 Average number of employees who were engaged in each of the following activities: TOTAL 2022 Charitable Activities in furtherance of organisation's objects 7 |
Revised TOTAL 2021 £ 77,937 - 10,109 |
|---|---|
| 88,045 | |
| TOTAL 2021 7 |
The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000.
(2021 - None)
| Net Wages were apportioned to the following accounts:- New building work Admin Foodbank The Loft Cleaning |
TOTAL 2022 £ 13,150 27,820 16,142 23,647 4,730 85,488 |
TOTAL 2021 £ 31,020 24,455 13,726 - - |
|---|---|---|
| 69,201 |
12. TRUSTEES AND OTHER RELATED PARTIES
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.
(2021 - None)
During the financial year trustees Mr D. Bell and Mrs J. Bell received a total gross income of £25,760 (2021:£30,240) in salary related payments in accordance with clause 21 of the Declaration of Trust and in furthering the charity's objects.
No other payments were made to trustees or any persons connected with them during the financial period.
(2021 - None)
Trustee Mr D. Bell and Mrs J. Bell have made regular loans to the Charity. The Charity and the Trustees have agreed to borrow monies from Trustees Mr D. Bell and Mrs J. Bell to meet the shortfall of income over expenditure and to enable the Charity to continue to meet its financlal obligation and to achieve its Charitable objects. The Trustees have agreed to repay the loan amounts when the funds become available for the purpose. Trustee Mr D. Bell and Mrs J. Bell have agreed to the loan being free of any interest chargeable in furtherance of the Charity's object.
The details of the loan amounts may be found in note 9 of The Reports & Financial Statements for the year ended 31st December 2022. The loan outstanding to Mr D. Bell & Mrs J. Bell currently stands at £88,772 (2021:£88,955) as at the 31st December 2022.
No other material transaction took place between the organisation and a trustee or any person connected with them.
(2021 - None)
This page does not form part of the statutory financial statements
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NEW LIFE CHURCH CARDIGAN TRUST
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
13. 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.
14. 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.
15. 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.
This page does not form part of the statutory financial statements
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