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2023-08-30-accounts

Charity registration number 1093592

Company registration number 02357067 (England and Wales)

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2023

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Secretary

Miss L R Downer Mr O Thomas Dr M Farquharson Ms T Asanga-Rae Mr D Davidson Ms M Gilkes

Dr M Farquharson

(Appointed 20 February 2024) (Appointed 20 February 2024) (Appointed 20 February 2024) (Appointed 20 February 2024)

Charity number 1093592 Company number 02357067 Registered office Windrush Millennium Centre 70 Alexandra Road Moss Side Manchester United Kingdom M16 7WD

Independent examiner

John A Porter and Co 74 Dickenson Road Manchester United Kingdom M14 5HF

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

CONTENTS

Page
Trustees' report 1 - 4
Statement of Trustees' Responsibilities 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 17

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 AUGUST 2023

The trustees present their annual report and financial statements for the year ended 30 August 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document dated 8 March 1989 and amended in 1989, 1993, 2000 and 6 June 2002, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016).

AIMS, OBJECTIVES AND PRINCIPAL ACTIVITIES

The Charity’s objectives and its principal activity is the promotion for the public benefit of urban or rural regeneration in areas of social and economic deprivation (particular the Moss Side, Hulme and adjacent areas of Manchester) by all or any of the following means:

The main objective of the year was to adapt to the economic and social changes in order to maintain the Trust’s

sustainability.

The strategies employed to achieve the Charity’s objectives have been many and varied for example: we are committed to the principle of full cost recovery, ensuring that the Charity is not subsiding grant aided initiatives, and through the development of our Xero system, we will streamline and monitor our financial and other requirements.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The members have not required the company to obtain an audit.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 AUGUST 2023

PUBLIC BENEFIT AND INTENDED IMPACT

In meeting these objectives the Trust aims to become a useful resource and learning centre to the local community. In setting out policy and planning these activities the Trustees have given careful consideration to the objectives of the Charity.

The Windrush Millennium Centre Room Hire facilities are available to everyone and have been well used during the last financial year. Our room hire charges have enabled local organisations to provide training, and educational programmes, which includes the private and public sector.

The Trust has hosted and supported the Windrush Generation Campaign for the last five years, which began with an outcry for public meetings to be held after the Windrush Scandal became public in 2018.

The Trust facilitated and supported the creation of Windrush Defenders Legal C.I.C. which comprises lawyers, law graduates, community activists, volunteers and young people who have shown a keen interest in wanting to support the cause of those affected by the Windrush Scandal.

Our rent and rates remain competitive to local business which in turn helps them to employ local people at affordable costs. We continue to support our existing tenants, many of whom provide much needed services to the local community.

Our policy in acquiring new tenants is to encourage those with a projection of job creation in local economy in the line with the aims and objectives of the Trust.

ACTIVITES

FUTURE DEVELOPMENTS

Employment Education and Training Skills Project

We propose to deliver a learning engagement offer that supports Moss Side and surrounding areas Employment and Skills needs.

We understand due to the Pandemic and other challenges the need for employment skills and digital skills with an employer pathway is paramount for the growth of local communities.

A programme has been designed to support with employment/digital skills. This is with the view to enhance the client’s employment options.

Once clients have completed this they will have the opportunity to complete training for their CSCS Green Labour card. This will allow the client to work within a construction environment.

Work has started with stakeholders that hold the 106 agreements within the Moss Side region. By upskilling local clients using the Green Card this will provide pathways into employment opportunities.

We are currently engaging in the recruitment and training of prospective tutors to deliver the programme.

Cultural Archive – Unit 10

We are looking at wider funding pots to develop a local cultural archive to showcase our heritage and legacy for future generations.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 AUGUST 2023

FINANCIAL REVIEW

A summary of the year’s results can be found on page 7 of the attached documents. During the year, total incoming resources were £262,460 (2022: £188,047).

Total resources expended in the year were £269,608 (2022: £219,326).

The reserves at 30 August 2023 were:

Unrestricted £468,007 (2022: £463,019)

Restricted £1,322,622 (2022: £1,334,758)

Total £1,790,629 (2022: £1,797,777)

RESERVE POLICY

The Trustees have examined the Charity’s requirement for resources in light of the main risks to the organisation. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.

At present the level of free reserves available falls short of the target level although the strategy is to continue to build reserves through planned operating surpluses.

The Charity has a policy of keeping surplus funds in short term deposits which can be accessed readily. All funds are invested in the bank and the returns on them reflect available interest rates.

RISK MANAGEMENT

The trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the operation and finance of the Charity and are satisfied that systems are in place to mitigate the exposure to major risks.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 AUGUST 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

� Governing Document

The Charity is governed by its Memorandum and Articles of Association adopted on 8 March 1989 and amended by Special Resolutions dated 11 April 1989, 20 April 1989, 23 February 1993, 3 November 2000 and 6 June 2002. The Trust is not a Local Authority, and the Memorandum and Articles of Association was written at, and for a particular period of local history. The need to amend the Constitution to realistically reflect the economic, environmental, social, cultural and political changes within the areas of benefit, will be an urgent consideration in the near future.

� Governing Bodies

The Board of Trustees is responsible for the overall governance of the Charity.

The Charity is organised so that the Trustees meet regularly to govern its affairs.

� Recruitment and Training of Trustees

The trustees are responsible for the appointment of new trustees. New trustees will only be appointed after due consideration is given to eligibility, personal competence and specialist skills. New trustees, when appointed, are included into the working of the Charity by the existing trustees.

As noted in the Memorandum and Articles of Association updated as at 6 June 2002, the board of directors is required to have at least four members on the board. The current board of directors are pleased to report that they satisfy this requirement.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

A Brown (Resigned 20 February 2024) L Downer V Harris (Resigned 11 April 2024) O Thomas M Farquharson (appointed 20 February 2024) T Asanga-Rae (appointed 20 February 2024) D Davidson (appointed 20 February 2024) M Gilkes (appointed 20 February 2024)

The Trustees' report was approved by the Board of Trustees.

.............................. Lorna Downer Trustee/Director Dated: .........................

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 AUGUST 2023

The trustees, who are also the directors of The Moss Side and Hulme Community Development Trust for the purpose of company law, are responsible for preparing the Trustees' 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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 charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

I report to the trustees on my examination of the financial statements of The Moss Side and Hulme Community Development Trust (the charity) for the year ended 30 August 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’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 Association of Accounting Technicians, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

David Kipling MAAT for and on behalf of John A Porter and Co

74 Dickenson Road Manchester United Kingdom M14 5HF

Dated: .........................

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 AUGUST 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Grants
3
8,000
-
Charitable activities
5
163,931
-
Investments
4
45,943
-
Other income
6
44,586
-
Total income
262,460
-
Expenditure on:
Charitable activities
7
257,472
12,136
Net income/(expenditure)
for the year/
Net movement in funds
4,988
(12,136)
Fund balances at 31 August
2022
463,019
1,334,758
Fund balances at 30
August 2023
468,007
1,322,622		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
8,000
-
-
163,931
134,152
-
45,943
51,811
-
44,586
2,084
-
262,460
188,047
-
269,608
207,081
12,245
(7,148)
(19,034)
(12,245)
1,797,777
482,053
1,347,003
1,790,629
463,019
1,334,758		 Total
2022
£
-
134,152
51,811
2,084
188,047
219,326
(31,279)
1,829,056
1,797,777
Grants
3
Charitable activities
5
Investments
4
Other income
6
Total income
Expenditure on:
Charitable activities
7
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 31 August
2022
Fund balances at 30
August 2023

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

BALANCE SHEET

AS AT 30 AUGUST 2023

Notes
Fixed assets
Tangible assets
12
Investment properties
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Unrestricted funds		 2023
£
£
1,335,022
380,000
1,715,022
200,070
49,609
249,679
(174,072)
75,607
1,790,629
1,322,622
468,007
1,790,629		 2022
£
£
1,343,711
380,000
1,723,711
145,668
88,631
234,299
(160,233)
74,066
1,797,777
1,334,758
463,019
1,797,777		 2022
£
£
1,343,711
380,000
1,723,711
145,668
88,631
234,299
(160,233)
74,066
1,797,777
1,334,758
463,019
1,797,777
1,723,711
74,066
1,797,777
1,334,758
463,019
1,797,777

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 August 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

..............................

Otis Thomas Trustee/Director

Company Registration No. 02357067

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2023

1 Accounting policies

Charity information

The Moss Side and Hulme Community Development Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Windrush Millennium Centre, 70 Alexandra Road, Moss Side, Manchester, M16 7WD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document dated 8 March 1989 and amended in 1989, 1993, 2000 and 6 June 2002, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

The charity receives no public funding.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 AUGUST 2023

1 Accounting policies

(Continued)

1.5 Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered.

Expenditure which is directly attributable to specific activities have been included in these cost categories on a basis consistent with the use of these resources.

Charitable expenditure comprises those costs incurred by the charity in the deliver of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them,

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold Land 125 years straight line Windrush site development 125 years straight line Fixtures, fittings & equipment 15 - 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 AUGUST 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no critical accounting estimates or judgements.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 AUGUST 2023

3 Grants
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Power to Change Grant 8,000 -
4 Investments
**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Rental income 45,943 51,786
Interest receivable - 25
45,943 51,811

5 Charitable activities

Rent and Rent and
service service
charges - charges -
Windrush Windrush
Millennium Millennium
Centre Centre
2023 2022
£ £
Sales within charitable activities 163,931 134,152
6 Other income
**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Other income 44,586 2,084

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 AUGUST 2023

7 Charitable activities

Charitable Charitable Charitable
Expenditure Expenditure
2023 2022
£ £
Staff costs 45,174 37,254
Depreciation and impairment 15,889 16,676
Rates 21,709 41,717
Insurance 18,382 15,227
Heat and light 36,531 12,099
Repairs and maintenance 13,561 9,640
Telephone and IT costs 35,370 19,473
Other sundry expenses 1,148 (1,473)
Bad debts 12,901 6,938
200,665 157,551
Share of support costs (see note 8) 43,268 43,822
Share of governance costs (see note 8) 25,675 17,953
269,608 219,326
Analysis by fund
Unrestricted funds 257,472 207,081
Restricted funds 12,136 12,245
269,608 219,326
Basis of allocation Governance Governance
2022 £ 764 35,978 64 7,016 12,128 5,825 61,775
Support costs Support
Governance
2023Support costs Governance		 costs
costs
costs		 £
£
£
£
£		 Cleaning and gardening costs
2,975
-
2,975
764
-		 Security
35,119
-
35,119
35,978
-		 Bank charges
39
-
39
64
-		 Printing, postage and stationery
5,135
-
5,135
7,016
-		 Accountancy fees
-
17,385
17,385
-
12,128		 Legal and professional
-
8,290
8,290
-
5,825		 43,268
25,675
68,943
43,822
17,953		 Governance costs includes payments to the accountants of £17,385 (2022 £12,128) for accountancy fees.
8

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 AUGUST 2023

9 Trustees

Trustees were reimbursed travel expenses totalling £Nil (2022 £Nil).

10 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
2 2
Employment costs 2023 2022
£ £
Wages and salaries 40,425 30,025
Agency and other staff costs 4,749 7,229
45,174 37,254

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 AUGUST 2023

12 Tangible fixed assets

Cost/Valuation
At 31 August 2022
Additions
At 30 August 2023
Depreciation and impairment
At 31 August 2022
Depreciation charged in the year
At 30 August 2023
Carrying amount
At 30 August 2023
At 30 August 2022		 Windrush
Centre
£
1,450,000
-
1,450,000
200,998
11,355
212,353
1,237,647
1,249,001		 Leasehold
property
£
160,000
-
160,000
74,245
780
75,025
84,975
85,755		 Fixtures,
fittings &
equipment
£
359,500
7,198
366,698
350,544
3,754
354,298
12,400
8,955		 Total
£
1,969,500
7,198
1,976,698
625,787
15,889
641,676
1,335,022
1,343,711

There are two debentures, by way of a fixed and floating charge over the property known as The Windrush Millennium Centre ("the Centre"), dated 28 April 2005 in favour of The Adventure Capital Fund and The Millennium Commission who provided funding to construct the Centre; the Charity has covenanted that it will not dispose of the property.

The Centre was constructed by the Charity on land subject to a 125 year lease dated 29 November 2004 between the Charity and The Council of the City of Manchester.

The Centre was revalued by the Directors during the year ended 31 August 2012; the Directors intend to complete a revaluation of the Centre in the next 12 months.

The leasehold property balance of £84,975 (2022 - £85,755) reflects the remaining value of the 125 year lease of the land that the Centre was built on.

13 Investment property

Investment property
2023
£
Fair value
At 31 August 2022 and 30 August 2023 380,000

The investment properties located at Princess Road Manchester were valued on 23 March 2010 by Ben Roberts BSc (Hons) MRICS on behalf of Knight Frank LLP, external valuers, on the basis of market value in accordance with the Appraisal & Valuation Standards (5th Edition) published by the Royal Institute of Chartered Surveyors.

No depreciation is provided in respect of these properties.

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 AUGUST 2023

14 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
190,382
2,168
7,520
200,070		 2022
£
134,778
2,168
8,722
145,668

15 Creditors: amounts falling due within one year

Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
16,403
64,100
36,934
56,635
174,072		 2022
£
42,936
19,749
37,447
60,101
160,233

Included in creditors is a balance of £44,696 (2022: £49,854) relating to deferred rental income.

16 Analysis of net assets between funds

Unrestricted
Restricted
2023
2023
£
£
Fund balances at 30
August 2023 are
represented by:
Tangible assets
12,400
1,322,622
Investment properties
380,000
-
Net Current assets/
(liabilities)
75,607
-
468,007
1,322,622		 Total
Unrestricted
Restricted
2023
2022
2022
£
£
£
1,335,022
8,955
1,334,756
380,000
380,000
-
75,607
74,066
-
1,790,629
463,021
1,334,756		 Total
2022
£
1,343,711
380,000
74,066
1,797,777