Registered Company no. 04253778 Registered Charity no. 1094210
Mossley Old School Trust Trustees’ Report and Accounts for the Year ended 31 July 2021
Mossley Old School Trust Trustees’ report for the Year ended 31 July 2021
The Trustees present herewith their report and financial statements for the year ended 31 July 2021
Reference and Administrative information
Name: Mossley Old School Trust Registered Charity no: 1094210 Company No: 04253778 Principal office: 122 Leek Road Congleton Cheshire, CW12 3HX
Trustees
The Trustees/directors who served in the year and up to the date of this report were:
David Potts
Chairman
Jacqueline Potts
Christine Scott Karen Hartles
Elizabeth Smallman
Brenda Hughes Jean Vale
Louise Carter
Company Secretary Peter Hughes
Volunteer Treasurer Gillian Griffiths
Structure, Governance and Management
The charity is a company limited by guarantee and is constituted under memorandum and articles of association dated 17 July 2001 as amended on 11 September 2002. In the event of the company being wound up, the liability of each member is limited to £1.
Appointments of Members of Council
The Members of the Council, who are the Trustees for the purpose of charity law, are appointed by the members at the Annual General Meeting. Every year 1/3rd of the Council being the longest serving retire and are eligible for re-election.
Registered charity no: 1094210 Registered company no: 04253778
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Mossley Old School Trust Trustees' report for the Year ended 31 July 2021
Objects
“To promote the benefit of the inhabitants of Mossley .... by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of social welfare for recreation and other leisure-time occupation with the object of improving the conditions of life for the said inhabitants.
To establish or secure the establishment of a community building and to maintain and manage the same, whether alone or in co-operation with any local authority or other person or body in furtherance of these objects."
Activities
Consistent with the charitable objects, the charity continued to operate the Community Centre for the benefit of the inhabitants of Mossley.
The effects of Covid -19 have had a major impact on this year when the centre was required to close in March. MASK (Breakfast and After School Club) was able to continue to help children of key workers so some income was still generated. The Centre was able to obtain a Government grant which helped significantly. We are hopeful that there is still enough interest to be able to keep the Centre open in a Covid Secure way for the coming year.
Reserves
In the current economic climate, the Council of management consider it prudent to aim to build general reserves to one years' expenditure. ChairmanDavid Potts 3 [/ 2(/22
Insert date of AGM
Registered charity no: 1094210 Registered company no: 04253778
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Independent examiner's report to the trustees of Mossley Old School Trust
| report on the accounts of the company for the year ended 31 July 2021 , which are set out on pages 4 to 8.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act,
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® to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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® to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
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have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
accounts to be reached.
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Registered charity no: 1094210
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Mossley Old School Trust
Balance Sheet as at 31 July 2021
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | ||
| Tangible fixed assets | 3 | 125,110 | 125,110 | |||
| Current assets | ||||||
| Debtors and prepayments | 4 | 1,203 | 897 | |||
| Cash at bank and in hand | 26,081 | 22,835 | ||||
| 27,284 | 23,732 | |||||
| Current liabilities | ||||||
| Bank loans | 6 | 1,681 | (3,663) | |||
| Creditors: amounts falling due within | ||||||
| one year | 5 | _____2,987 | 1,276 2,987 |
(1,224) _____(4,887) |
||
| Net current assets | 24,327 | 18,845 | ||||
| Total assets less current liabilities | 149,437 | 143,955 | ||||
| Creditors: amounts falling due after | ||||||
| morethan one year | ||||||
| Bank loans | 6 | - | (1,681) | |||
| NetAssets | 149,437 | 142,274 | ||||
| Accumulated funds | 7 | |||||
| General unrestricted fund | 17,990 | 12,508 | ||||
| Designated funds | ||||||
| Contingency Fund | 10,000 | 10,000 | ||||
| Designated fund | - | |||||
| Equity in building fund | 121,447 | 119,766 | ||||
| Accumulatedfundscarriedforward | 149,437 | 142,274 |
For the year ending 31 July 2021, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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the members have not required the company to obtain an audit of the accounts for the year in question in accordance with section 476
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the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Signed by two trustees on behalf of all the Council of Management
and authorised for issue on:
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Registered charity no: 1094210 Registered company no: 04253778
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Mossley Old School Trust
Statement of Financial Activities
(including Income and Expenditure Account) for the year ended 31 July 2021
| Unrestricted | 31July2021 | 2021 | 31July2020 | 2020 | |||
|---|---|---|---|---|---|---|---|
| funds | Restricted | Totalfunds | Totalfunds | ||||
| Incoming resources | Note | £ | £ | £ | £ | ||
| Grants& Donations | 11,370 | 11,370 | 10,000 | ||||
| Rental income -Frequent users | 14,951 | 14,951 | 16,898 | ||||
| Rental income - Casual users | 518 | 518 | 213 | ||||
| Bank interest | 1 | 1 | 24 | ||||
| Total incoming resources | 26,840 | . | 26,840 | 27,135 | |||
| Resources expended | 2 | ||||||
| Building repairs | 1,951 | 1,951 | 1,331 | ||||
| Insurance | 2,665 | 2,665 | 2,600 | ||||
| Cleaner | 2,938 | 2,938 | 4,011 | ||||
| Booking Secretary/Centre Manager | 3,460 | 3,460 | 3,300 | ||||
| Advertising | 13 | 13 | 16 | ||||
| Administration | 747 | 747 | 673 | ||||
| Licences | 411 | 411 | 546 | ||||
| Utilities | S777 | 5,777 | 6,301 | ||||
| Professional fees | 54 | 54 | 58 | ||||
| Cleaning materials | 592 | 592 | 368 | ||||
| Miscellaneous | 821 | 821 | 1,682 | ||||
| Depreciation | - | - | - | ||||
| Interest payable | 248 | 248 | 410 | ||||
| Total resources expended | 19,677 | - | 19,677 | 21,295 | |||
| Net incoming resources and net | |||||||
| movement in funds forthe year | 7,163 | 7,163 | 5,840 | ||||
| Total funds broughtforward | 142,274 | 142,274 | 136,435 | ||||
| Totalfundscarriedforward | 149,437 | - | 149,437 | 142,274 |
Registered charity no: 1094210 Registered company no: 04253778
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Mossley Old School Trust Notes to the Accounts
for the year ended 31 July 2021
7 Accumulated Funds
| Fund | Net | Fund | ||
|---|---|---|---|---|
| Balances | Incoming/ | balances | ||
| brought | (Outgoing) | carried | ||
| forward | resources | Transfers | forward | |
| £ | £ | £ | ||
| Designated Funds | ||||
| Contingencyfund | 10,000 | - | . | 10,000 |
| Designated fund | - | - | ||
| Equity in building fund | 119,766 | 1,681 | 121,447 | |
| At 31 July 2021 | 129,766 | 1,681 | - | 131,447 |
| General fund | 12,508 | 5,482 | - | 17,990 |
| Totalfunds | 142,274 | 7,163 | - | 149,437 |
Contingency fund
This comprises funds designated by the Trustees to cover 6 months loss of income as a result of a loss of a major frequent user. This would allow the charity to maintain services whilst building up an extended user base.
Designated fund
This is the amount of money (grants) received for specific purposes.
Equity in building fund
This shows the amount of funds invested in the building and related assets and is derived from the book value of the buildings and plant less the amounts borrowed.
General Fund
This is the amount available for the general day to day purposes of the charity.
Registered charity no: 1094210 Registered company no: 04253778
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Mossley Old School Trust Notes to the Accounts for the year ended 31 July 2021
1 Accounting policies
(a) Accounting convention
The accounts have been prepared in accordance with the historical cost convention and with the Financial Reporting Standard for Smaller Entities (effective April 2008). The accounts have also been prepared on an accruals basis in accordance with the Statement of Recommended Practice issued in 2005 (SORP 2005) and the special provisions of the Companies Act 2006 applicable to companies subject to the small companies ' regime.
(b) Recognition of incoming resources
These are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, the trustees are virtually certain that the resources will be received and the monetary value can be measured with sufficient reliability.
(c) Rental income
Rental income, which primarily arises from community and charitable organisations, is included as income in the period to which the rental relates.
(d) Expenditure and liabilities
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
As a small charity, expenditure is presented by its natural classification.
(e) Tangible Fixed Assets for use by the charity
These are capitalised if they can be used for more than one year and cost at least £1000. Major repairs or replacements of existing assets are only capitalised to the extent that these are enhancements. Depreciation is charged on a straight-line basis over the estimated useful lives of assets as follows: Land - Nil Buildings - over 50 years
As the residual value of buildings is currently expected to exceed the cost, no depreciation has been charged.
(f) Fund accounting
Unrestricted funds, including designated funds, are expendable at the trustees’ discretion in furtherance of the charity's objects. Restricted funds can be spent only in accordance with the donors' specific wishes. A full explanation of the charity's designated funds is given in note 7.
Registered charity no: 1094210 Registered company no: 04253778
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Mossley Old School Trust Notes to the Accounts for the year ended 31 July 2021
2 Resources expended
| Resources expended | 2021 | 2020 |
|---|---|---|
| £ | £ | |
| Expenditure includes: | ||
| Independentexaminersfees | - | - |
No remuneration has been paid to the Trustees during the year (2020: £nil)
| 3 | Tangible Fixed Assets | 2021 | 2020 |
|---|---|---|---|
| Landandbuildingsatcost | 125,110 | 125,110 |
Tangible fixed assets comprise of freehold land and buildings known as 122, Leek Road. The property was purchased from The Chester Diocesan Board of Education in 2006 and is subject to a covenant requiring it to be used for educational purposes. The Diocesan Board has a first legal charge over the property to secure a 35 year claw-back clause. Under this clause, 50% of any increase in value of the property arising due to a change in implementation planning use is payable to the Board.
| 4 | Debtors | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Trade debtors | 22 | (186) | |
| Prepayments | 1,182 | 1,083 | |
| 1,203 | 897 | ||
| 5 | Creditors: amounts fallingduewithin oneyear | ||
| Trade creditors | 967 | 387 | |
| Accruals | 308 | 836 | |
| 1,275 | 1,223 | ||
| 6 | Bank loans | ||
| Repayments falling due: | |||
| - between two and five years | - | 119% | |
| - after more than five years | - | ||
| - | 1,191 | ||
| - within one year | 1,681 | 4,153 | |
| 1,681 | 5,344 |
The loan is 15 year capital repayment mortgage, secured over the property at 122, Leek Road.
Registered charity no: 1094210 Registered company no: 04253778
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