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← Mercian Community Trust

2024-12-31-accounts

Mercian Community Trust

Annual Report & Financial Statements for the year ended 31[st] December 2024

Company Registration Number 04345177 Charity Registration Number 1090596

Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Contents

Trustees’ Annual Report 1
Auditor’s Report 7
Statement of Financial Activities 10
Balance sheet 11
Notes to the Accounts 12 – 18

Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees, who are also the Directors for the purpose of company law, present their combined Trustees’ report and Directors’ report together with the audited financial statements, for the year ended 31 December 2024.

In compliance with the current accounting regulations the report is in the required format with the Statement of Recommended Practice (SORP (FRS102)(Second Edition) and is set out as follows: -

  1. Structure, Governance and Management

  2. Reference and administrative details of the Mercian Trust

  3. Objectives and activities

  4. Achievements and performance

  5. Financial review

  6. Plans for future periods

1. Structure, Governance and Management

Summary Information

On the 29[th] February 2012 the Company changed the name to Mercian Community Trust, formerly known as the Mercian Trust. The Mercian Community Trust is a registered company, limited by guarantee and not having a share capital, incorporated on 24 December 2001 (Company Registration number 04345177).

Principal activity

The principal activity of the Mercian Community Trust is: -

“to provide access to human and financial advice and resources to help the Parishes of the Diocese of Lichfield and the people of the communities they serve to develop projects which will provide facilities to address the issues of exclusion, isolation and exploitation of people from all walks of life who are oppressed by poverty, regardless of colour, race or creed.”

Organisation

In addition to the Board of Trustees there are also further individuals who are members to the Trust, although they do not have executive rights or duties but are informed of decisions and financial transactions either at the Annual General Meeting or, if required, at an Extraordinary General Meeting.

The membership of the Trust is as follows: -

The Archdeacon of Lichfield The Archdeacon of Salop The Archdeacon of Stoke The Archdeacon of Walsall

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Decision Making Structure

The Mercian Community Trust oversees projects that fulfil its organisational purpose. All decisions regarding the central administration, fund raising, and such projects are made at meetings of the Trustees on a quarterly basis – should there be sufficient business. Due to the size of the Board of Trustees it is also possible to deal with any emergency business by electronic means.

Appointment of Trustees

One third of the Trustees (and therefore Directors) retire each year, based on a rotation system, and there are annual elections for consideration by the members of the Trust.

Trustees are given induction training at the time of appointment and ongoing tuition as appropriate during their tenure.

Connected Charities

On the 24[th] April 2015 a new Charity called Transforming Communities Together was formed, registered charity number 1157772. The charity is also a registered company 09010580. The Mercian Community Trust is directly connected to this entity but in partnership with the Church Urban Fund (registered charity 297483). However, the Mercian Community Trust has 4 members and the Church Urban Fund 5 members. On 8[th] December 2020 Transforming Communities Together amended their Memorandum and Articles of Association so Board of Directors constituted three members appointed by each of the following the Church Urban Fund, Mercian Community Trust by the Transforming Communities Together Board. It is deemed that whilst connected the financial transactions for the period should not be reflected in these Financial Statements.

The Mercian Community Trust has no direct connection with other charities, although by the involvement of the projects and work undertaken by the Trust, there is a working relationship with no financial obligation with the Lichfield Diocesan Board of Finance (Incorporated).

Pension Scheme

The Mercian Community Trust does not operate a separate Pension Scheme.

Risk Management

The Mercian Community Trust has not carried out a specific risk management exercise due to the size of the organisation; however, the Trustees consider and discuss relevant risks. It does however have access to the full Risk Management Analysis carried out by the Lichfield Diocesan Board of Finance and the Trustees are fully aware of the appropriate risks that concern the Mercian Community Trust.

The principal risks and uncertainties relevant to Mercian Community Trust are related to continued funding for specific projects and their sustainability – either via grant funding, donations or by general operating income exceeding costs. All projects must therefore have a reserve at any time to finance closure.

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Auditors

On 18[th] November 2024 the company’s auditor changed its name from haysmacintyre LLP ro HaysMac LLP. HaysMAc LLP has expressed its willingness to continue as auditors to the Charity.

A resolution to reappoint Haysmacintyre LLP as auditors to the company and to authorise the Trustees to fix their remuneration will be proposed at the Annual General Meeting.

2. Reference and Administrative Details of the Trust

In accordance with the Companies Act 2006 and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Charities SORP (FRS 102), the Trustees (for the purpose of charity law) and Directors (for the purpose of company law) during the year and as at the date of signing were as follows:

Revd Preb Terry Bloor Mrs Jessamine Dace Mr Jonathan Hill Mrs Julie Jones (resigned 31 December 2024) Mrs Josephine Locke Mr Roger Marsh Mr John Wilson

In that time, none received any remuneration for their services from the Mercian Community Trust. The Trustees are considered to be the key management personnel of the charity. Staff remuneration is set with reference to similar roles in comparably sized charities.

Registered Office: St Mary’s House, The Close, Lichfield, Staffordshire, WS13 7LD

Bankers: Lloyds Bank Plc, 22 Conduit Street, Lichfield, Staffordshire, WS13 6JS Solicitors: FBC Manby Bowdler (Midlands) Ltd, 6 -10 George Street, Snow Hill, Wolverhampton WV2 4DN

Auditors HaysMac LLP, 10 Queen Street Place, London, EC4R 1AG Insurers Ecclesiastical Insurance Group Plc, 7 East Court, London Road, Charlton Kings, Cheltenham GL52 6HS.

3. Objectives and Activities

Public Benefit Statement

The Directors and therefore the Trustees of the Mercian Community Trust are aware of the Charity Commission’s guidance on public benefit in the Advancement of Religion for the Public Benefit and have had regard to it in their administration of the Trust.

The Mercian Community Trust believes that, by promoting the work of the Church of England in the Diocese of Lichfield and surrounding areas, it helps promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical) more effectively, both in the diocese as a whole and in its individual parishes and associated projects, and that in doing so it provides a benefit to the public by:

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Aims

The Mercian Community Trust aims to promote access to human and financial advice to help both parishes and communities within the Diocese of Lichfield. This is done by promoting and assisting projects within the communities to provide facilities to address specific social issues. It aims to help those in deprived areas and people from all walks of life who are oppressed by poverty or social isolation, exclusion or exploitation.

The strategy of the Trust for achieving these activities is to offer financial, legal and project management to the projects. This includes assisting with generating funds, publicity, assistance with employment contracts, being the accountable body, and offering both sound legal and business advice.

4. Achievements and Performance

Over the last twelve months the Trust has been involved with the following areas of work:

Lichfield Community Fund

The majority of the regular income into the fund comes from the West Bromwich Building Society bonus each year due to the affiliation account operated with the Society.

Grants applications are encouraged from parishes within the Diocese and Community Groups of all faiths in areas of deprivation, both rural and urban. Support and Grants are awarded to support set up costs, running costs and feasibility studies for community-based projects.

During the year the Church Community Fund has distributed £18,940 (2023: £31,979) in grants to projects within the Lichfield Diocese.

West Bromwich Building Society Fund

The grant received from the Society is held in a separate restricted fund and grants are awarded from the funds towards Community Projects within the area serviced by the Society. This includes part of the Birmingham and Worcester Diocese. Applications for Community projects are administered via the Mercian Community Trust but grants are awarded by the Society.

In the year no grants were awarded (2023: None).

Dovedale House

The management and day to day running of the Retreat and Youth Centre, Dovedale House, in Ilam is overseen by the company. The property belongs to the Lichfield Diocesan Board of Finance but provided to the Company to allow outreach to individuals and organisations. These financial statements include the transactions and reserves of the Centre. See section 5.

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Reserves Policy

As the Trust is fundamentally involved in overseeing projects, the reserves policy is to hold sufficient funds to cover the Governance costs of running the Charity. Income is derived from administration charges that are attributed to projects under the umbrella of the organisation.

5. Financial Review

In the year the Trust has generated income of £167,922 (2023: £133,493). The total income is mainly due to Dovedale House, and the residential fees generated there.

Overall, the Trust made a surplus of £11,038 (2023: deficit £77,936). Unrestricted funds showed a deficit in the year of £3,331 (2023: deficit £3,128). The reserves at the year-end therefore increased to £270,681 as at 31 December 2023 from £259,643. The unrestricted reserve shows a surplus of £7,262 (2023: £6,383) and restricted reserves of £263,419 (2023: £253,260).

The Trust made no political grants or donations in the year.

6. Plans for the Future

It is important that the Mercian Community Trust continues to identify its role within the overall strategy of the Diocese of Lichfield. In addition, it has a responsibility to ensure that overhead charges to oversee projects are adequately covered and reverse the current deficit in unrestricted funds.

Plans and decisions will need to be made based on recommendations from the fund-raising consultations on the viability of launching a Community Fund Appeal within the Diocese. If a campaign is to be undertaken, then the structure and procedures need to be agreed and put in place to avoid excessive strain on the limited resources currently available.

During the year further strategic discussions have taken place with the West Bromwich Building Society, not only to discuss the future role and purpose of the Mercian Community Trust but also the Community affiliation account operated by the Building Society. There is large, shared enthusiasm from both sides to relaunch the Community Account in conjunction with a slight change in direction for the Mercian Community Trust.

It is clear the Mercian Community Trust is very much part of the new Diocesan Theme for Transforming Communities and reaching New Generations and making New Disciples.

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Mercian Community Trust ~~Pe~~ Annual Report & Financial Statements for the year end 31 December 2024

Trustees’ responsibilities statement

The trustees (who are also directors of Mercian Community Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Provision of information to auditors

Each of the persons who are members of the Board of Trustees at the time when this Trustee's Annual report is approved has confirmed that:

The Trustees have taken the exemption available to small companies and have not prepared a Strategic Report.

The Trustees’ Report was approved on 25[th] June 2025 by the Trustees and signed on their behalf by:

Jonathan Hill Director/Trustee……………………….……….…………

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Auditor’s report

Independent Auditor’s Report to the members of Mercian Community Trust

Opinion

We have audited the financial statements of Mercian Community Trust for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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Mercian Community Trust ~~pT~~ Annual Report & Financial Statements for the year end 31 December 2024

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to health and safety, and employment (including taxation), and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to the recognition of revenue, including the cut-off of revenue at the year end. Audit procedures performed by the engagement team included:

Tailored narrative here but consider the following

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Stokes (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of HaysMac LLP London Statutory Auditors EC4R 1AG

Date: 29 July 2025

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Statement of Financial Activities For the year ending 31 December 2024

Unrestricted Restricted Total Total
Funds Funds 2024 2023
Note £ £ £ £
Income from:
Donations and legacies 2 - 39,742 39,742 3,594
Charitable Activities 3 - 109,552 109,552 112,854
Investments 4 1,178 17,346 18,524 16,545
Other Income 5 - 104 104 -
Grants 6 - - - 500
-------------- ---------------- ---------------- ----------------
Total income 1,178 166,744 167,922 133,493
-------------- ---------------- ---------------- ----------------
Expenditure on:
Charitable Activities 7 4,509 152,519 157,028 209,431
-------------- ---------------- ---------------- ----------------
Total expenditure 4,509 152,519 157,028 209,431
-------------- ---------------- ---------------- ----------------
Net gains/(losses) on - 144 144 (1,998)
investment
Net income/(expenditure) (3,331) 14,369 11,038 (77,936)

Transfers between funds		 9 4,210 (4,210) - -
-------------- ---------------- ---------------- ----------------
Net movement in funds 879 10,159 11,038 (77,936)

Total funds brought forward		 6,383 253,260 259,643 337,579
-------------- ---------------- ---------------- ----------------
Total funds carried forward 7,262 263,419 270,681 259,643
======= ======= ======== ========

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 12 to 18 form part of these financial statements. A full comparative Statement of Financial Activities is included at note 16.

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024 ~~PC~~

Balance Sheet as at 31 December 2024 Company number: 04345177

Total Total
2024 2023
Note £ £
Fixed assets
Tangible assets 8 3,932 3,283
Investment Assets 9 30,158 30,014
---------------- ----------------
34,090 33,297
---------------- ----------------
Current assets
Debtors 11,726 9,345
Deposit and bank balances 10 420,441 403,822
---------------- ----------------
432,167 413,167
---------------- ----------------
Creditors: amounts falling due within one year 11 (195,576) (186,821)
---------------- ----------------
---------------- ----------------
Net current assets & net assets 270,681 259,643
======== ========
Capital and reserves
Unrestricted reserves 7,262 6,383
Restricted reserves 263,419 253,260
---------------- ----------------
270,681 259,643
======== ========

The Financial Statements were approved and authorised for issue by the board and were signed on its behalf on 25[th] June 2025

Jonathan HU

Jonathan Hill

Trustee / Director

The notes on pages 12 to 18 form part of these financial statements.

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

1. Accounting Policies

(a) Accounting Convention

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Mercian Community Trust 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) Cash flow

The Charity has taken advantage of the exemption available to smaller charities and has not prepared a cash flow statement.

(c) Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future (which is considered to be at least twelve months from the date of approving these financial statements). With the assurance the Diocesan Board of Finance would secure any unrestricted reserve deficit if insufficient income was generated from projects towards administration costs; for this reason they continue to adopt the going concern basis in preparing the financial statements.

(d) Fund Accounting

Unrestricted Funds : comprise of accumulated surplus or deficit on the Statement of Financial Activities which are available for the use at the discretion of the Trustees of the Mercian Community Trust in furtherance of the objectives of the charity.

Restricted funds are subject to the specific terms of any grants or donations made to the Mercian Community Trust in the course of the year, declared by the donor(s) or with their authority, but still within the objects of the charity. Restricted funds may be restricted income funds, which are expendable at the discretion of the Trustees in furtherance of some aspect(s) of the objects of the charity. Or they may be capital funds, where the assets are required to be invested, or retained for actual use, or expended in strict concurrence with the terms of the grant/donor.

(e) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

(f) Income

All income is included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy and there is a probability of receipt.

(g) Grants - Recognition of liabilities

Expenditure is included on the accruals basis and has been classified under headings that aggregate all costs related to the SOFA category. Grants payable are charged in the year when the offer is conditional on the recipient satisfying performance or other discretionary requirements to the satisfaction of the Trust.

Grants offered subject to such conditions, which have not been met at the year end, are accrued as expenditure until the Trustees decide to withdrawal any conditional grant at which point it is written back.

All of the costs incurred in the management and administration of the Trust are shown under Management and Administration under Charitable Activities. The costs of Committees etc. are included under Governance Costs.

Trade and other debtors are recognised at the settlement amount after any trade discounts offered. Prepayments are valued at the amount repaid net of any trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(k) 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 settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(m) Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 6. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

The address of the registered office is given in the reference and administration details of these financial statements. The nature of the charity's operations and principal activities are detailed in the trustees report.

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

2. Income from donations and legacies
2024 2023
£ £
General - 150
West Bromwich Building Society 19,928 -
Lichfield Community Fund 2,499 2,524
Newchapel Hub - 600
Telford CAP 140 320
Beheshtion - -
Dovedale 17,175 -
----------------- -----------------
39,742 3,594
======= =======
All donations and legacies are restricted in the current and previous year.
3. Income from Charitable activities 2024 2023
Newchapel Hub 120 11,214
Dovedale 109,432 101,640
----------------- -----------------
109,552 112,854
======= =======
All Income from Charitable activities is restricted in the current and previous year.
4. Income from investments 2024 2023
£ £
Interest 18,524 16,545
======= =======
5. Other Income 2024 2023
£ £
Dovedale 104 -
======= =======
6. Grants Received 2024 2023
£ £
Newchapel Hub - 500
======= =======
7. Expenditure on charitable activities
2024 2023
£ £
Support Costs, Central Admin 639 558
West Bromwich BS Partnership 2,500 -
Lichfield Community Fund 18,940 23,497
Telford CAP - 3,866
Newchapel Hub 1,509 30,500
Beheshtion - 8,684
Dovedale 129,570 138,726
Governance costs (see note 8) 3,870 3,600
----------------- -----------------
157,028 209,431
======= =======

Included in the above are 6 grants (2023: 25) made to other charities amounting to £22,535 (2023: £31,979)

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

8. Tangible Fixed Assets Office Equipment
£
Cost at 1st January 2024 9,268
Additions 2,503
Disposals -
Revaluation in the year -
Cost at 31st December 2024 11,771
Depreciation at 1st January 2024 5,985
Disposals -
Charge for the year 1,854
Depreciation at December 2024 7,839
Net book value at 31st December 2024 3,932
=======
Net book value at 31st December 2023 3,282
=======
9. Investment Assets 2024 2023
Market Value as at 1st January 2024 30,014 32,013
Revaluations in the year 144 (1,999)
Disposal of Investments - -
----------------- -----------------
Market Value as at 31st December 2024 30,158 30,014
======= =======
10. Deposits and bank balances 2024 2023
£ £
Unrestricted 58,167
58,012
Restricted 362,274
345,810
-----------------
-----------------
420,441
403,822
=======
=======
11. Creditors 2024 2023
£ £
Amounts due falling within one year
Sundry creditors 192,666
183,821
Accruals 2,910
3,000
---------------
---------------
195,576
186,821
=======
=======
12. Net income/(expenditure) for the year 2024 2023
£ £
This is stated after charging:
Auditors’ remuneration 3,870
3,600
Depreciation 1,854
1,854
--------------- ---------------
5,724
5,454
=======
=======

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

13. Employees 2024 2023
No. No.
The average number of persons employed by the Trust during
the period was:
Management and administration 1 1
======= =======
Staff costs during the year related to Dovedale.
£ £
Employment costs – Projects
Salaries 15,629 34,909
Ers NI 1,350 2,512
Pension 336 632
--------------- ---------------
17,315 38,053
======= =======

No employee had emoluments in excess of £60,000 (2023: none).

The key management personnel of the charity is considered to be the Trustees. The charity Trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil) neither were they reimbursed expenses during the year (2023 £nil). No charity Trustee received payment for professional or other services supplied to the charity (2023 - £nil).

14. Reserves Other
Reserves Transfers Movements Reserves
Brought Between for the Carried
Forward Funds Year Forward
Analysis of Charitable Funds £ £ £ £
Unrestricted Reserves
Revenue reserve 6,383 4,210 (3,331) 7,262
----------------- -------------- ----------------- -----------------
Restricted Reserves
Church Networks - - 56 56
West Bromwich BS 83,569 (4,210) 21,639 100,997
Lichfield Community Fund 178,884 - (6,615) 172,269
Telford CAP 320 - 140 460
Newchapel Hub 129 - (1,390) (1,261)
Beheshtion - - - -
Dovedale (9,642) - 539 (9,102)
----------------- -------------- ----------------- -----------------
Total 253,260 - 14,369 263,419
======== ======= ======= ========
Grand Total 259,643 - 11,038 270,681
======== ======= ======= ========

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Reserves Other
2023 Comparatives Reserves Transfers Movements Reserves
Brought Between for the Carried
Forward Funds Year Forward
Analysis of Charitable Funds £ £ £ £
Unrestricted Reserves
Revenue reserve 5,738 3,773 (3,127) 6,383
----------------- -------------- ----------------- -----------------
Restricted Reserves
Church Networks 13 (13) - -
West Bromwich BS 83,569 (3,760) - 83,569
Lichfield Community Fund 190,943 - (12,059) 178,884
Telford CAP 3,866 - 3,546 320
Newchapel Hub 18,314 - (18,185) 129
Beheshtion 8,684 - 8,684 -
Dovedale 26,451 - (36,093) (9,642)
----------------- -------------- ----------------- -----------------
Total 331,841 (3,773) (74,808) 253,260
======== ======= ======= ========
Grand Total 337,579 - (77,935) 259,643
======== ======= ======= ========

Restricted Reserves – All restricted reserves are represented by net current assets.

West Bromwich Building Society Partnership

Partnership Scheme with the West Bromwich Building Society to distribute grants for support of charities and payments associated with the education and well-being of young children in deprived areas.

Lichfield Community Fund

A grant making body for support of religious charities and community projects associated with deprived areas.

Telford CAP – Debt Centre

The project has an agreement with the National Churches Against Poverty. The partnership involves an agreed financial contribution, prayer, support and time commitments from both the leadership of The Telford Churches Group and CAP to ensure an effective working relationship and the delivery of an excellent service to all clients. With effect from 01 January 2022 the project is moving to Wellington All Saints PCC.

Newchapel Hub

A community facility in North Staffordshire, to be made available to the local community and others in order to attract Mission and Outreach within the surrounding areas. With effect from 01 January 2025 the project is moving to Newchapel PCC.

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Mercian Community Trust Annual Report & Financial Statements for the year end 31 December 2024

Dovedale House

Dovedale House provides places of retreat and reflection to promote Christian spiritual and religious teaching and education by providing hospitality in the Christian tradition to promote, protect and preserve spiritual, emotional, and psychological health and wellbeing.

15. Related Parties

The parent undertaking is the Lichfield Diocesan Board of Finance (incorporated), a charitable company incorporated in England and Wales. The amounts of the Mercian Community Trust are consolidated in the accounts of the parent charity.

There are no direct transactions between the Mercian Community Trust and the parent charity. As employed staff of the Lichfield Diocesan Board of Finance they are minimal costs and deemed to be immaterial.

16. 2023 SOFA Comparatives Unrestricted Restricted Total
Funds Funds 2023
£ £ £
Income from:
Donations and legacies 150 3,444 3,594
Charitable Activities - 112,854 112,854
Investments 879 15,666 16,545
Funds Introduced Re Dovedale - - -
Grants - 500 500
-------------- ---------------- ----------------
Total income 1,029 132,464 133,493
-------------- ---------------- ----------------
Expenditure on:
Charitable Activities 4,157 205,274 209,431
-------------- ---------------- ----------------
Total expenditure 4,157 205,274 209,431
-------------- ---------------- ----------------
Net gain/(losses) on investment - (1,998) (1,998)
Net income/(expenditure) (3,128) (74,808) (77,936)

Transfers between funds		 3,773 (3,773) -
-------------- ---------------- ----------------
Net movement in funds 645 (78,581) (77,936)

Total funds brought forward		 5,738 331,841 337,579
-------------- ---------------- ----------------
Total funds carried forward 6,383 253,260 259,643
======= ======= ========

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