Mudgeway Community Church Trust Annual Report and Unaudited Financlal Statements Year Ended 31° December 2023 Charity Number: 1097662 Mudgeway Community Church Trust Year Ended 31" December 2023 Contents Officers and Professional Advisers Trustees, Annual Report Independent Examiner's Report Receipts and Payments Account statement of Assets and Liabilitie5 Notes to the Financial Statements Mudgeway Community Church Trust Officers and Professional Advlsors For the Year Ended 31" December 2023 Trustees: Mr A George Mr A Hockings Mr M Woolf Mrs A Priestly Ministers: Rev N Collins Rev L Collins Banker5- Lloyds PLC Ivybridge Devon PL219AD Independent Examiner: Mike Davies Associate5 14 Pound Park Okehampton Devon EX20 ISX Charity's Full Name- Mudgeway Community Church Trust (Church Name- Living We51 Church) Charity Registration Number: 1097662 Principal Address: Living Well Church corner Dark Street Lane Mudgeway Plympton Plymouth PL7 2PS Mudgeway Community Church Trust For the Year Ended 31" December 2023 The Trustees present their reF)Qrt along with the financial statements of the charity for the year ended 315t December 2023. The financial statemet)ts have beon prepared in accordance with the accounting policios set out in the notes to the financial statements and comply wtth the charity's trust deed (adopted on 9, April 20031, and the Charities Act 2011. The Chartty is administered by a Board of Trustees that is made up of at least three trustees. The trustees are appointed by a resolution passed by a simple majortty at a special meeting of the trust. Ministers aré accountable to the trustees on the charity's activtty and business. The accoutits now include the income and expendlture from the previously registered South West Equipping and Training ISWEATI charity. SWEAT has now ceased as a registered charity. All accounts relatingto SWEAT have now been closod. Aim5 and Objettives The Chartty's aims and objectives were established as Set out in its Declaration of Trust. adopted on 9th April 2003 are= to promote the advancement of the Christian faith,. the relief of persons who are in conditions of need, hardship or distress or who are aged or sick, primarily in Plymouth and its surrounding area but extending nationally and internationally where deemed appropriate by the Trustees. Review of Progre55 and Achievements 2023 saw a continuation of the trustees with no addftions and no resignations. The charity continued In Its furtherance of runnlng the day to day activities of the LI￿ng Well Church. Review of Financlal Activities and Aflalrs Receipts have decreased by £8,963 to £21,746. Total receipts during the year amount to £122,596 wfch total expendtture amounting to £131,559 Investment Policy There are no restrictions on the charity's power to invest. The investment strategy is set by the trustees taking into account recent demands for funds and the need to reserve sufficient funds to cover future maintenance and running costs. Reserve$ Pollcy It is the policy of the trustees to maintain unrestricted funds, which are free reserves of the charity* at a level that equals at loast six month's unrestricted expenditure. This provides sufficient funds to cover managements, administration and support costs. Approval: The trustees annual report was approved by the trustees on and signed on their behalf by- Mudgeway Community Church Trust Independent Examinerfs Report For the Year Ended 31 December 2023 I report on the financial statements of the charity for the year ended 3151 December 2023, which are set out in these pages. Respertive Responsibilities of Trustees and Examlner The charity's trustees are responsible for the preparation of the accounts. The charitWs trustees tonslder that an audit is not required for the year under Sertion 144 121 of the Charitles Act 2011 Ithe 2011 Acil and that an independent examination is needed.. It Is my responsibilty to: Examine the accgunts under Section 145 of the 2011 Act.. To follow the procedures laid down in the General Directions given by the Charf(y Commission lunder section 14515llbl of the 2011 Act= To State whether particular matters have come to my attention. Basis of Independeftt Examlnerfs Report My examination was carried out in accordance wrth the General Dlrectlons glven by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual ttems or disclosures in the financial statements, and seeking explanations from you a5 trustees concerning any such matters. The procedu res undertaken do not provide all the evidence that would be required In an audit, and consequently no opin ion is given a5 to whether the financial statements present a true and falr view and the report Is set out and limited to those matters set out in the statement bellow5', In connection wtth Tny examination. no matter has come to my attention.. 111 Whlch glves me reasonable cause to believe that in any material respect requirements To keèp accounting records in accordance with Section 130 of the 2011 Act,. and To provide financial statements which accord with the accounting records and to comply with the accounting requlrements of the 2011 Act have not been met,. or 121 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Mike Davies - Accountant Mike Davies A550ciates, 14 Pound Park, Okehampton, EX20 ISX Mudgeway Community Church Trust Receipts and Payments Account st For the Financial Year Ended 31 December 2023 Receipts Ge￿￿1 Restrltted Fund Fund Total 2023 Totol 2022 Gift Aid Giving Offeiings Tax Rep￿rnent Donations, Missions and sundry Income Church Hire, rent and other income Bank interest received Totsl 75,665 1,591 10,861 75,665 79,349 1,591 4,807 10,861 11,926 34.284 195 122,596 34.284 15,210 195 15 122.596 I27.￿1 Payment5 Eguipment and renewals Missions and training Fusion Bank charges COTN Cluster General expense5 Gifts and grants Salaries Rent, rates and insurances Heat, Light and Power Travel. entertain, socials Office costs Premises expenses ProfeSsio￿al fees Total 733 1.320 733 1,320 11,750 90 142 5,100 6,000 8,924 6,797 7,626 10,641 56,558 56,055 9,381 17,779 1,605 4,437 5,100 8,924 7,626 56,558 9,381 1,605 734 38,005 1.123 131,199 734 738 38,005 2,353 1,123 872 0 131.199 117,564 Governance wsts Independent Examinerfs Fee TOTAL 360 131,559 360 360 0 131,559 117,924 Net {payments) I recelpts (8.963) 0 {8.963) (6,617) Bank Balances Bank balances at I'january 2Q23 Add increase in year Bank balance as at 31" December 2023 30,709 18.9631 21,746 37,199 16,6171 30,709 Mudgeway Community Church Trust For the Year Ended 31" December 2023 Balance Sheet 2023 2022 Fixed Assets Tangible assets Current Assets Debtors Cash at Bank 401,565 401,565 632 645 22,378 31,227 CYeditor5: amounts falling due within one Year Net current assets {liabilitiesl Total assets les5 current liabilities 602 691 21,776 423,341 30,526 432.101 Creditors.. amounts falling due after one year Net A55Èts 423.341 431101 Funds of the Chartty Unrestrirted 423,341 431101 Mudgeway Community Church Trust For the Year Ended 31" December 2023 Notes to the Financial Statements l. Accounting Policies a. Basis of preparation The financial statements have been prepared on the receipts and payments basis under the historical cost convention, in accordance with the applicable Accounting Standards and the Char¥ties Art 2011. b. General fund The general fijnd is unresiricted con5i5ting of income which the charity mav use for its purposes at is discretion 2. Transactions with Trustees During the year £nil12023= £nill was paid to the trustees in respect of reimbursed expenses in connertion wtth the management and administration of the charity. There were no transactions with the trustees of the charity. 3. Independent Examiner: A cost of £360 was paid to or charged by the Independent Examiner.