Company Registration No: 4025081 Charitable Registration No: 1081311
MONMOUTHSHIRE BUILDING SOCIETY CHARITABLE FOUNDATION (COMPANY LIMITED BY GUARANTEE )
Report and Accounts
Year ended 30 April 2023
MONMOUTHSHIRE BUILDING SOCIETY CHARITABLE FOUNDATION (COMPANY LIMITED BY GUARANTEE)
TRUSTEES’ REPORT Year ended 30 April 2023
The Trustees present their annual report for the year ended 30 April 2023.
The Monmouthshire Building Society Charitable Foundation, Monmouthshire House, John Frost Square, Newport NP20 1PX, a private company limited by guarantee without a share capital, is registered with the Charity Commissioners (No. 1081311) and constituted by Deed of Trust.
Trustees
The Charity is administered by its management committee who are also Directors of the Company. All Trustees served throughout the year unless otherwise stated.
| Barry John Davies | Chairman (Resigned 20.01.22) |
|---|---|
| Keith Dunn OBE | Chairman (Appointed as chair on 25.03.21) |
| Alison Davies | Vice-Chair |
| Jacky Grenfell | Trustee (Resigned 29.03.23) |
| Dawn Gunter | Trustee |
| Jonathan Dartnell | Trustee |
| Dean Williams | Trustee (Resigned 08.12.22) |
| David Blair | Trustee (Appointed 29.03.23) |
| Kristy Maloney | Trustee (Appointed 29.03.23) |
| Stephen West | Trustee (Appointed 29.03.23) |
| Allison Currie | Secretary |
Review of Activities
The object of the foundation is to promote charitable purposes, as determined by the Trustees of the Foundation, in accordance with the laws of England and Wales.
The area of benefit is not defined but in practice assistance will be restricted to locally based charitable causes, within practice beneficiaries are restricted to the geographical areas served by the Monmouthshire Building Society through its branch and agent network.
During the year 45 organisations were helped with donations made by the Foundation covering a wide spectrum of social needs within the community.
Auditors
The Company qualifies as a small company and is entitled to the exemption provided by Section 477(2) of the Companies Act 2006 from the need to appoint auditors.
This report has been prepared in accordance with the special provisions relating to small companies under Section 382 of the Companies Act 2006.
Signed for and on behalf of the Trustees
Keith Dunn OBE Chairman
01/02/2024
MONMOUTHSHIRE BUILDING SOCIETY CHARITABLE FOUNDATION (COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES Year ended 30 April 2023
| Year ended | Year ended | |
|---|---|---|
| 30 April 2023 | 30 April 2022 | |
| £ | £ | |
| Incoming Resources: | ||
| Donations: | ||
| Monmouthshire Building Society | 50,000 | - |
| Other | - | 41,000 |
| Total incoming resources | 50,000 | 41,000 |
| Resources expended | 36,935 | 27,998 |
| Net surplus/(deficit) for the year | 13,065 | 13,002 |
| Balance brought forward | 26,717 | 13,715 |
| Balance carried forward | 39,782 | 26,717 |
The Statement of Financial Activities is not materially different from the Income and Expenditure account required by the Companies Act 2006; accordingly, no separate Income and Expenditure account is presented.
There are no recognised gains and losses for the current period other than as stated. Accordingly no Statement of Total Recognised Surpluses and Deficits has been reported. All of the activities of the Company are continuing.
MONMOUTHSHIRE BUILDING SOCIETY CHARITABLE FOUNDATION (COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET As at 30 April 2023
| 30 April 2023 £ 30 Current Assets Building Society Deposit Account 39,782 Capital and reserves Income and expenditure Account 39,782 |
April 2022 £ 26,717 26,717 |
|---|---|
These accounts have been prepared in accordance with the special provisions relating to small companies under Section 382 of the Companies Act 2006.
For the year ended 30 April 2023 the Company was entitled to exemption under Section 477(2) of the Companies Act 2006. No members have required the Company to obtain an audit of its accounts for the period in question in accordance with Section 476(1). The Directors acknowledge their responsibility for:-
- (i) Ensuring the Company keeps accounting records which comply with Section 386 Companies Act 2006;
and
- (ii) Preparing accounts which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its income and expenditure for the year in accordance with Section 394 Companies Act 2006 and which otherwise comply with the requirements of that Act relating to accounts, so far as applicable to the Company.
Approved by the Board of Trustees on 01/02/2024 and signed on their behalf by:
……………………………………… Keith Dunn OBE Chairman Alison Davies ……………………………………… Vice-Chairman
MONMOUTHSHIRE BUILDING SOCIETY CHARITABLE FOUNDATION (COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS Year ended 30 April 2023
1. ACCOUNTING POLICIES
The Financial statements are prepared in accordance with applicable United Kingdom accounting standards and in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (revised 2000). The particular accounting policies are described below.
Accounting convention
The financial statements are prepared under the historical cost convention.
2. GUARANTEE
The Trustees of the Company have agreed to contribute £1 each to the assets of the Company in the event of it being wound up.