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← The Moss Side And Hulme Community Development Trust

2024-08-30-accounts

Registered Charity Number 1093592

Company registration number 02357067 (England and Wales)

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Accounts for the Year Ended 30 August 2024

Registered Charity Number 1093592 Company registration number 02357067 (England and Wales)

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Accounts for the Year Ended 30 August 2024

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Reference and Administrative Details

Trustees Miss L R Downer Mr O Thomas Mr A Brown (Resigned 20 Feb 2024) Dr M Farquharson (Appointed 20 Feb 2024) Ms T Asanga-Rae (Appointed 20 Feb 2024) Mr D Davidson (Appointed 20 Feb 2024) Ms M Gilkes (Appointed 15 Jul 2024) (Resigned 11 Apr 2025) Secretary Dr M Farquharson (Appointed 20 Feb 2024) (Resigned 15 Jul 2024) Registered Charity No. 1093592 Registered Company No. 02357067 (England and Wales) Registered Office Windrush Millennium Centre 70 Alexandra Road Moss Side Manchester United Kingdom M16 7WD Independent Examiner John A. Porter & Co. 74 Dickenson Road Rusholme Manchester United Kingdom M14 5HF

1

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Trustees' Report for the Year Ended 30 August 2024

The Trustees present their report together with the financial statements of the Charity for the year ended 30 August 2024.

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 ACITIVITIES

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.

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.

2

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Trustees' Report for the Year Ended 30 August 2024 - Continued

PUBLIC BENEFIT AND INTENDED IMPACT - CONTINUED

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.

ACTIVITIES

During the last financial year, the Trust has delivered, and plans to continue supporting, a wide range of community-focused projects and initiatives, including:

Additionally, the Trust is supporting several emerging community groups that are not yet fully formalised but are actively developing their structures and initiatives with guidance and encouragement

3

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Trustees' Report for the Year Ended 30 August 2024 - Continued

FUTURE DEVELOPMENTS

Employment Education and Training Skills Project

We propose to deliver learning engagement projects 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.

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

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 £309,348 (2023 £262,460).

Total resources expended in the year were £389,691 (2023 £269,608). The reserves at 30 August 2024 were then:

Unrestricted £399,688 (2023 £468,007) Restricted £1,310,598 (2023 £1,322,622) Total £1,710,286 (2023 £1,790,629)

4

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Trustees' Report for the Year Ended 30 August 2024 - Continued

RESERVES 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.

The Trust is actively strengthening its financial position through a focused strategy of building free reserves via 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.

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

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.

5

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Trustees' Report for the Year Ended 30 August 2024 - Continued

STATEMENT OF TRUSTEES' RESPONSIBILITIES

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 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.

M Farquharson Trustee / Director

6

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Report of the Examiner 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 2024.

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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 & Co. 74 Dickenson Road Rusholme Manchester United Kingdom M14 5HF

Dated ….................................

7

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Statement of Financial Activities for the Year Ended 30 August 2024

Unrestricted
Designated
Note
Funds
Funds
£
£
Incoming Resources
Income and endowments from:
Grants
(2)
-
-
Charitable activities
(3)
177555
-
Investments
(4)
68518
-
Other income
(5)
63275
-
Total Incoming Resources
309348
-
Resources Expended
Charitable activities
Charitable activities
(6)
318102
-
Governance costs
(8)
59565
-
Total Resources Expended
377667
-
Net Outgoing Resources before Gains/
(Losses) on investments
(68319)
-
Transfer Between Funds
-
-
Reconciliation of Funds
Total Funds Brought Forward
468007
-
Total Funds Carried Forward
399688
-		 Restricted
Funds
£
-
-
-
-
-
12024
-
12024
(12024)
-
1322622
1310598		 2024
2023
Total
Total
Funds
Funds
£
£
-
8000
177555
163931
68518
45943
63275
44586
309348
262460
330126
243933
59565
25675
389691
269608
(80343)
(7148)
-
-
1790629
1797777
1710286
1790629

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.

8

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Balance Sheet as at 30 August 2024

Note
Fixed Assets
Tangible Assets
(12)
Investment Properties
(13)
Current Assets
Debtors
(14)
Cash at Bank & in Hand
Creditors
Amounts due within one year
(15)
Net Current Assets/(Liabilities)
Total Assets less Current Liabilities
Creditors
Amounts due after one year
Total Net Assets
The Funds of the Charity:
Restricted Funds
Designated Funds
Unrestricted Funds
Total Charity Funds
(16) & (17) & (18)		 £
159313
35940
195253
(206108)		 2024
£
£
1341141
380000
1721141
200070
49609
249679
(174072)
(10855)
1710286
-
1710286
1310598
-
399688
1710286		 2023
£
1335022
380000
1715022
75607
1790629
-
1790629
1322622
-
468007
1790629

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 2024.

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 …..............................

Lorna Downer Trustee/Director

Company Registration No. 02357067

9

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024

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.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

(a) 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.

(b) 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.

(c) 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.

(d) 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.

10

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024 - Continued

1. Accounting Policies - Continued

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.

(f) 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.

(g) 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 stated at valuation at the reporting end date.

(h) 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).

(i) 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.

(j) 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.

11

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024 - Continued

1. Accounting Policies - Continued

(j) Financial Instruments - 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

Derecognition of financial liabilities

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

(k) 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.

(l) 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

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.

12

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024 - Continued

2.
Grants
Power to Change Grant
Other Grant Income
3.
Charitable Activities
4.
Investments
Rental Income
Interest Receivable
5.
Other Income
Windrush Millennium Centre - Room Hire
Other Income
Sales within Charitable Activities - Rent and Service
Charges for Windrush Millennium Centre		 2024
£
-
-
-
2024
£
177555
177555
2024
£
68518
-
68518
2024
£
29198
34077
63275		 2023
£
8000
-
8000
2023
£
163931
163931
2023
£
45943
-
45943
2023
£
-
44586
44586

13

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024 - Continued

6. Charitable Activities

Staff Costs
Donations
Depreciation and Impairment
Rates
Insurance
Heat and Light and Water
Repairs and Maintenance
Telephony and Information Technology Costs
Charitable Projects Costs
Catering
Other Sundry Expenses
Bad Debts
Support Costs - Note 7
Restricted Funds
Designated Funds
Unrestricted Funds		 2024
£
81232
1275
17065
13763
26958
112303
29081
22074
11801
6991
2811
(30912)
35684
330126
£
12024
-
318102
330126		 2023
£
45174
-
15889
21709
18382
36531
13561
35370
-
-
1148
12901
43268
243933
£
12136
-
231797
243933

Restricted funds are included in depreciation and impairment charges and relate to depreciation charged on the Windrush Centre and the write down of the 125 year lease that the Centre was built on.

7. Support Costs

Cleaning and Gardening Costs
Security
Bank Charges
Office Expenses
Travel and Motor Expenses
Other Support Costs		 2024
2023
£
£
9129
2975
14457
35119
55
39
4013
5135
7956
-
74
-
35684
43268

14

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024 - Continued

8 Governance Costs

Accountancy Fees
Independent Examiners Fee
Legal & Professional Fees
Travel and Motor Expenses
Other Governance Costs		 2024
2023
£
£
3200
16100
1350
1285
45428
8290
9268
-
319
-
59565
25675

9. Wages & National Insurance

Gross Wages
Casual Wages		 2024
2023
£
£
73941
40425
7291
4749
81232
45174

The average number of employees who are employed under a contract of service during the year was: 4 (2023 2)

No employees had emoluments in excess of £60,000 in the year.

10. Trustees' Remuneration, Benefits and Expenses

There were no Trustees' remuneration payable or other benefits for the year ended 30 August 2024.

The Trustees claimed a total of £9,268 (2023 £Nil) for reimbursement of travel and other expenses.

11. Taxation

The Charity is not liable to corporation tax on income and gains derived from its charitable activities, as they fall within the various exemptions available to registered charities.

15

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024 - Continued

12.
Tangible Fixed Assets
( a ) Cost/Valuation
As at 31 August 2023
Additions
Disposals
As at 30 August 2024
( b ) Depreciation/Impairment
As at 31 August 2023
On disposals
Charge for the year
As at 30 August 2024
( c ) Written Down Value
As at 30 August 2024
As at 30 August 2023		 Windrush
Centre
£
1450000
-
-
1450000
212353
-
11251
223604
1226396
1237647		 Leasehold
Property
£
160000
-
-
160000
75025
-
773
75798
84202
84975		 Fixtures
Fittings &
Equipment
£
366698
23184
-
389882
354298
-
5041
359339
30543
12400		 Total
£
1976698
23184
-
1999882
641676
-
17065
658741
1341141
1335022

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 £84,202 (2023 £84,975) reflects the remaining value of the 125 year lease of the land that the Centre was built on.

16

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024 - Continued

13. Investment Property

Valuation
As at 31 August 2023
As at 30 August 2024		 Land &
Buildings
Total
£
£
380000
380000
380000
380000

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.

14. Debtors

Trade Debtors
Prepayments
Deferred Billing of Rental Income
Other Debtors		 2024
2023
£
£
147606
190382
4898
7520
6809
-
-
2168
159313
200070

15. Creditors: Amounts Due Within One Year

Trade Creditors
Social Security and Other Taxes
Accruals
Advance Rental Income
Rental Deposits
Other Creditors		 2024
2023
£
£
63956
64100
38107
16403
6550
11939
43874
44696
53221
36934
400
-
206108
174072

17

THE MOSS SIDE AND HULME COMMUNITY DEVELOPMENT TRUST

Notes to the Accounts for the Year Ended 30 August 2024 - Continued

16. Funds Analysis

Restricted Fund
Designated Fund
Unrestricted Funds		 As at 1
As at 31
Jan 2024
Received
Expended
Transfer
Dec 2024
£
£
£
£
£
1322622
-
(12024)
-
1310598
-
-
-
-
-
468007
309348
(377667)
-
399688
1790629
309348
(389691)
-
1710286

17. Analysis of Net Assets between Funds

Fund balances at 30 August 2024
are represented by:
Tangible Fixed Assets
Investment Properties
Net Current Assets/(Liabilities)		 Unrestricted
Designated
Restricted
Total
£
£
£
£
30543
-
1310598
1341141
380000
-
-
380000
(10855)
-
-
(10855)
399688
-
1310598
1710286

18. Payments to Trustees, Related Party Transactions and Additional Information

The Trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind.

There were no related party transactions during the year.

The Charity's insurance provides Trustee indemnity cover.

There are no contingent liabilities to report.

There are no post balance sheet events to report.

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