MARCH CIVIC TRUST Flnanclal Statements For the year ended 31 March 2024 Whitings LLP Chartered Accountants Fenland House 15B Hostmoor Avenue March Cambs PE15 OAX
MARCH CIVIC TRUST ANNUAL REPORT AND ACCOUNTS For the ear ended 31 March 2024 Trustees, Officers and Advisers: Charity Trustees'.- The Trustees of March Civic Trust who have all seNed in Office during the year are.. Ms K Nightingale (Chairman) Rev A Chandler (Vice Chairman) Mr F J Grounds Mr G H Taylor (retired 2 October 2023) MsDRae Ms S Lemmon Mr M Louth Mr C Lemmon Officers:_ The Clerk to the Trustees: Mrs S A Taylor The Treasurer to the Trustees". Ms S Lemmon The Charity's Principle Office and Registered Address is: The Town Hall Market Square March Cambs Advisers: Reportlng Accountants". Whitings LLP Chartered Accountants Fenland House 15B Hostmoor Avenue, March Cambs PE15 OAX Bankers: Lloyds Bank PIC 3 North Brink Wisbech Cambs PE13 1JT Legal Advisers: Fraser Dawbams 29 Old maet Wisbech Cambs PE13 1NP
MARCH CIVIC TRUST ANNUAL REPORT OF THE TRUSTEES OF MARCH CIVIC TRUST For the ear ended 31 March 2024 The Truslees of the March Civic Trust present Iheir Annual Report for the year ended 31 March 2024. Reference and Admlnlstratlve Information The Charity wa5 fomied in 2000 and is registered with the Charity Commission under Charrty Number 1081320. The Trustees, Officers and Advisers are listed on page 1. Structure. Govemance and Management Governing Document The Charity is govemed by its Trust Deed dated 27 January 2000 and Supplemental Tiust dated 19 April 2000. Governing Bodies The structure of the Charity consists of Trustees. details being set out on page 1. Recruitment and Training of Tnjstees The Trustees are appointed by the existing Trustees based on eligibility, personal expertise, specialist skills and local knowledge. Trustees are recruited to bring to the Charity a range of viewpoints and perspectNes. As part of the induction, full details of the Charity's objectives a provided and the day-to-day running of the Charity explained. Full referen is made to the obligations, duties and responsibilities of the Trustees. Also, referen is made to the websrte of the Charity Commissioners and the need to become fully familiar with the contenl and regular reviews for updates. The need for fomal training of Trustees is considered to be fairly limtted, wtth day-to-day skills being obtained by experien and spreading of knowledge beeen existing Trustees and their Advisers. The Trustees keep up-to-date with legislative and administration matters by referen to the website of the Charities Commission and consultation with their Advisers. Objects The Charity's Objects as set out in its Trust Deed, are to promote the benefit of the inhabitants of March in Cambrsdgeshire, by associating the said inhabitants and the Local Authorits'es, voluntary and other organisations in a common effort to.' a) advance education,. b) relieve povety, sickness and distress; c) provide facilities in the interests of social welfare for recreation and other leisure time occupation, with the object of improving the conditions of life of the inhabitants of March. Review of Activlties and Future Developments The Statement of Financial Activities foi the period is set out on page 6 of Ihe Financial Statements. A summary of the financial resuhs and work of the Charity is set out below: March Civic Trust was established to acquire, refurbish and manage the March Town Hall as a Town resource. The purchase took place in August 2000, with a generous grant from Joan and Peter Skoulding. Since Ihat date, the premises have been completely refurbished, with the support of many organisations and grants. Ongoing rna1ntenan and repairs continues to be dealt with, as arising. The premises are now utilised by organisations within the Aims and Objectives and in Ihe opinion of the Trustees, these include providers of important services to the people of March and the surrounding villages and voluntary organisations, and all provide public benefit for the Town. In addition, an attractive function room with catering facilities is available for use.
MARCH CIVIC TRUST ANNUAL REPORT OF THE TRUSTEES OF MARCH CIVIC TRUST For the ear ended 31 March 2024 CONTINUED The unrestricted general fund has increased from £19,542 at the beginning of the year. to £25.965 at the end of the year due to an decrease in building repair expenses. In planning the Charty's activities for the year. the Trustees kept in mind the Charity Commissioners, guidance on Public Benefit and consider that the objective in this respect has been achieved. The focus of the activities has been to provide facilities as set out in the Objects, lo relevant organisations and inhabitants of March. Future Plans The premises will continue to provide rooms for use by organisations within the Aims and Objectives, recreation and catering facilities and a very attractive function room for a WKle range of activities. These are likely to include performing arts, visual arts, public meetings, fairs, AGMS, tourist information, all in accordance with the Trust Objects. The ongoing activity will be to manage these facilities, to ensure that a surplus arises, to achieve the required reserve funds. However the trustees wish to repla the remaining windows of the Town Hall which are currently in a poor Condttion. Reserves Policy It is the policy of the Charity to maintain unrestricted funds, at a level which would cover routine management and charitable expenditure budgeted for the next e1ve months. The Charity considers that unrestricted funds have now achieved such levels and the Trustees have therefore established a designated Property Maintenance Fund to provide for cyclical and long term maintenance of the premises. The Trustees have agreed to make annual transfers of £5,000 to this fund if there is an available surplus. The premises are allocated to designated funds and no further changes beyond this are anticipated in the foreseeable future. Organlsation and Risk Management The Trustees are responsible for preparing the Trustees, Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards {UKGAAP). The law appliGable to charities in England and Wales requires the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming reSoUrS and application of resources of the Chartty for that period. In preparing these Financial Statements, the Trustees are required to."_ select surtable accounting policies and then apply them consislentty" observe the methods 8nd principles in the Charities SORP,. made judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures discbsed and explained in the Financial Statements., and prepare the Financial Statements on the going concern basis unless it is inappropriate lo presume that the Charty will CA)ntinue in operation.
MARCH CIVIC TRUST ANNUAL REPORT OF THE TRUSTEES OF MARCH CIVIC TRUST For the ear ended 31 March 2024 CONTINUED The Tiustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial POSFtion of the Charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011, the applicable Chartties (Accounts and Reports) Regulations and Trust Deed. They are also responsible for safeguarding the assets of the Charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The systems of intemal control are designed to provide reasonable. but not absolute. assurance against material misstatement or loss. They indude'.- formal Agendas for all Trustee meetings., a strategic plan and an annual budget approved by the Trustees., regular consideration by the Trustees of financial results and variance from budgets,. delegation of authority and segregation of duties- and identifKation and management of risks. The Trustees have, with advi from their Accountants, introduced a fomal Risk Management prOs$ to assess business iisks and implement Risk Management strategies. This involved identifying the types of risks the Charity faces, prioritising them in tenns of potential impact and likelihood of occurren. and identifying means of mitigating the risks. As part of this process. the Trustees have reviewed the adequacy of the Charity's current internal controls. The Trustees are pleased to report that the Charty's intemal financial controls, in particular. confonm wrth guidelines issued by the Charity Commission. The Trustees have considered the need for a specific internal audit function and have decided not to appoint an internal auditor. The Trustees noallY meet at least two times in each calendar year. During the year ended 31 March 2024 they held four meetings to consider and control the progress of the Charity. Slg alf of the Trustees on 1 1.L . by:_ Ms S Lemmon
MARCH CIVIC TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARCH CIVIC TRUST I report on the Accounts of the Charity for the year ended 31 March 2024, which are set out on pages 6 to 10. Res ctive Res onsibilities of Trustees and Examiner The Charty'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 nded. It is my iesponsibilty to:_ examine the accounts under Section 145 of the Charities Act; follow the prOdureS laid down in the general directions given by the Charty Commission under Section 145(5)(b) of the Charities Act,. and state whether particular matters have come to my attention. Basis of Inde endent Examinerfs Re ort My examination was carried out in aC(X)rdan with the general directions given by the Charity CommissK)n. 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 explan8trons from you as Trustees Conrning any such matters. The pr¢xedures undertaken do not provide all the eviden that would be required in an audit, and consequentty no opinion is grven as to whether the Accounts present a Irue and fair view" and the Report is limited to those matters set out in the Statement below. Inde endent Examinerfs Statement In connection wtth my examination, no matter has corne to my attention:. 1. which gwes me reasonable cause to believe that, in any material respect, the requirements".- to keep proper aCUnting records in accordance with Section 130 of the Charities Act,. and to prepare accounts which accord wrth the accounting records and comply with the accx)unting requirements of the Charrties Act have not been met,. or 2. to Whh, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date.. Ben Beech ACA rtings LLP Chartered Accountants Fenland House 15B Hostmoor Avenue March Cambs PE15 OAX
MARCH CIVIC TRUST STATEMENT OF FINANCIAL ACTIVITIES For the ear ended 31 March 2024 Note 2024 Total 2023 Restricted Unrestricted Funds Funds INCOMING RESOURCES Donations and legacies.. Donations Grants 0.00 0.00 0.00 0.00 0.00 0.00 400.00 0.00 Charitable Activities.. Rents and SeThi Charges Received Investmenl Income.. Bank Deposit Interest 0.00 33,889.21 33,889.21 33,742.48 0.00 199.58 199.58 35.48 Total incoming resources RESOURCES EXPENDED Charitable Activities:_ Repairs to Building Rates Insuran Light and Heat and Water Charges Legal and Professional Fees Management of facilities Depreciation 0.00 34 088.79 34 088.79 34 177.96 5.505.20 5,505.20 32,843.07 2.812.42 2,812.42 2,723.47 5,209.28 5,209.28 6,318.22 14,402.68 14,402.68 10,596.71 2,359.00 2,359.00 1,473.00 1,621.23 1,621.23 1,305.61 12 573.00 12 573.00 12 573.00 Total resources expended 44.482.81 44,482.81 67,833.08 NET INCOMEI EXPENDITURE 0.00 (10,394.02) (10,394.02) (33,655.12) 0.00 0.00 0.00 0.00 (10.394.02) {10,394.02) (33,655.12) Transfers beeen funds Net movement In funds Reconcillation of funds: Total funds brought fOrard at 1 April 2023 400.00 522 335.19 522 735.19 556 390.31 Total funds carrted forward at 31 March 2024 400.00 511,941.17 512.341.17 522,735.19 The notes on pages 8 to 10 fomi part of these Accounts
MARCH CIVIC TRUST BALANCE SHEET As at 31 March 2024 Note 2024 2023 Fixed Assets: Tanglble assets Fixtures and fittings Freehold land and buildings 10,565.00 466 376.00 476,941.00 11,320.00 478 194.00 489,514.00 Current Assets: Debtors Cash at Bank 2.156.97 43 452.72 45,609.69 714.00 37 573.13 38 288.95 Creditors: amounts falling due within one year 10 209.52 5 067.76 Net Current Assets: 35 400.17 33 221.19 Total Assets less Current Llabllities: £512.341.17 £522,735.19 Totsl Net Assets: £512,341.17 £522.735.19 Funds of thè Charlty:. Restricted Funds Unrestricted General Fund Designated Funds 0.00 25,965.17 486 376.00 0.00 19,542.19 503 193.00 Total Funds: £512,341.17 £522,735.19 The Financial Statements on pages 6 to 10 were approved by the Trustees on their behalf by:. Ms S Lernmon The notes on pages 8 to 10 form part of these Accounts
MARCH CIVIC TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 Accountlng Policies Basis of Pre aration The Financial Statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise slated in the relevant notes to these accounts, in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Chartties preparing their accounts in accordan wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 Juty 2014, and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and with the Charities Act 2011. The charity constitutes a public benefrt entity as defined by FRSIO2. Fund Accountin General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds are unrestricted funds eamarked by the Trustees for particular purposes. Restricted funds are grants restricted by the donor. Incomin Resources All incoming resources are induded in Ihe SOFA when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Gifts in Kind donated for distribution are included at fair value and recognised as income when they are distributed to the projects. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the Financial Statements for ServIS donated by volunteers. Grants Grants received in respect of expenditure charged to the SOFA during the year have been included in SOFA. Resources Ex ended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. ere costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating infomiation in support of the charitable activilies. Govemance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements. Tan ible Fixed Assets and De reciation Tangible fixed assets are capitalised if they can be used for more than one year and cost more than £1,000. They are valued at cost including any incidental expenses of acquisrtion. Depreciation is provided on all tangible fixed assets at rates calculated lo write off the cost less the estimated residual value on a straight line basis over their expected useful economic lives as follows.'_ FTeehold land Freehold buildings Fixlures and rrtkn'ngs over 50 years over 3 to 20 years 2. Management of Facilltles Independent Examinerfs fee Accountancy fees 270 630 265 605
MARCH CIVIC TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 CONTINUED 3. Tanglble Fixed Assets Freehold land & buildings Fixtures & fittings Cost At 1 April 2023 Additions 31 March 2024 691,474 18,654 691474 De reciation At 1 April 2023 Charge for period At 31 March 2024 213,280 7.334 755 225 098 Net Book Value At 31 March 2023 At 31 March 2024 478 194 466 376 4. Debtors 2024 2023 Trade Debtors Prepayments 2,156 714 714 5. Creditors.. amounts falling due within one year Rent ReiVed in advance Trade creditors VAT liability Accruals 5,160 2,463 328 3,125 1,483 409 51 6. Deslgnated Funds Designated funds represent funds which are designated for a specffic purpose. The Propety Fund of £466,376 represents the carying value of the Town Hall designated for use in accordan with the Chartty's Obj'ects. The Property maintenan Fund is for major expenditure to the fabric of the building. Balance Incnming At1423 Resources 478.194 Expenditure and transfers 11,818 Balan at31324 466.376 Property Fund Property maintenan Fund
MARCH CIVIC TRUST NOTES FORMING PART OF THE FINANCIAL STATEMENTS For the ear ended 31 March 2024 CONTINUED 7. Analysis of Net Assets between Funds ReStted Funds Designated Funds General Funds Total Tangible Fixed Assets Current Assets Current Liabilities Total Net Assets 466,376 20,000 10,565 25,610 476,941 45,610 486 376 512 341 8. Transactions wlth Trustees and Related Partles a) Trustee remunèration and benefrts The Trustees neither received nor waived any emoluments during the year. b) Trustees. expenses The Trustees received no expenses during the year. The Charity has paid a premiurn for Trustee indemnity Insuran in the year. c) Transactions wlth related partles There have been no related paty transactions in the reporting period. 9. Capital Commltments There were no capttal commitments in the year. 10
Payment Request IThitings Chartered Accountants LLP Central Finance Department Gieenwood House, Greenwood Court Skyliner Way. Bury St Edmunds Suffolk. IP32 7GY t: 01284 752313 dd.. 07284 731733 finance@whitingsllp.co.uk w.. whrtingslip-¢o.uk March Civic Trust Town Hall Market Place March Cambridgeshire PE15 9JF DJte'. 3010612024 Request No.: 226810 Account No.: F3MM133 A list ol Pèiineys cbn bè obtainèd from the office address above or alteinalivly they ran be found on our v4eb5iie www whitlnB511p co uk Pay1t 15 due 30 daysfrom the ab¢ dale TO PROFESSIONAL SERVICES IN RELATION TO.. Preparing Trustees Report and Financial Statements for the year ended 31 March 2024 in accordance with the Charities Acts and Charities SORP and submitting to you for approval. 790.00 Total Disbursements - Xero software subscription for the three months from March to May 2024 - 3 months @ £22 per month 66. To pay by BACS, intemet Of telephone bankfng our aCCOLtrnt details are'.- Sort Code: 30-91-49 CoUnt Number.. 02577084 coUnt Name.. Whitings LLP Please be sure to quote the Account No. above and preferably Request No. For further ways to pay please contact our central fFn)nce department on 01284 731733 or emall flnancthhltingsllp.co.uk THIS IS NOT A TAX INVOICE AND MAY NOT BE USED TO DEDUCT INPUT VAT FEE 856.00 TAX EQUIVALENT @ 20% 171.20 AMOUNT DUE £1,027.20 SLL?lIkedlWbil1ptTrEf5hP1t$tueOiEdw•Le5.fiuiVIx435Vjl ThPtlIStooLWbsftÈndWh1tgsC1tLi&IffjPrnbryo1WN1SP IrE(l[EredDis Grtth1wSt.GWWd Ctsurf.SWnerW4y.buryS1 Edmur5dk.1PY2FGY Pw5ter•dtowO¢rl4ktwJd¢w0 IntheUK rseal1tFhilytcl1lMt5vQblEr11ar andw5 bylblnslituttof£FrtId COuntIn151 EIad 1 BURY ST EDMUND5 ELY KING'S L YN FIARCH MILDÉP4HAIL PETER•OKOVGH RAMSEY ST IVES ST WEOTS WIS•EC