Annual Report for St James the Less Preservation Trust
Year ended 31.12.2023
Charity Number 1103639
Address
Spring Bank Arts Centre, 6, St James’ Square, New Mills, High Peak, SK22 4BB
Trustees
Gillian Tomlinson Alexander Bond Jane Cocking Richard Binch (Resigned 6th April 2024) Margaret Ritchie Dale Culliford Paul Sharpe Peter Gardner Elizabeth Treacy (Appointed 6th April 2024)
Review
It has been another excellent year for St James the Less Preservation Trust and Spring Bank Arts, the community arts venue which it oversees.
The AGM was held on Saturday 6[th] April in line with our regular practice.
The running of the Trust continues to be overseen by a group of hardworking trustees and volunteers alongside 2 paid members of staff. This enables the community of New Mills to enjoy this amazing building as a community asset and an arts venue.
As we continue our rotation of maintenance we intend to ensure our building retains its splendour and functions well. Moving forward we have plans to have the wooden floor sanded and varnished for the first time in 10 years. This will be a major expense but, thanks to financial diligence over the years, we have the funds to cover the work.
Our hirings through the day to local groups are vital to our running costs. We have a wide spectrum on offer and we ensure that our prices remain affordable for as many people as possible. The last twelve months have seen Spring Bank Arts used as a venue for weddings, music videos and sound bath courses alongside our regular groups.
We also have the pleasure of using the space to put in events and this last year has been our extremely successful yet in terms of audience numbers and the variety of performances on offer. We have hosted music from across the genres, theatre, spoken word, comedy and film with some amazing performers.
We believe that the St James the Less Preservation Trust and Spring Bank Arts are a testament to the strong appetite for the arts that is alive and kicking in New Mills and we look forward to another successful year.
Gillian Tomlinson, Chair
REGISTERED COMPANY NUMBER: 05042903 (England and Wales) REGISTERED CHARITY NUMBER: 1103639
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
FOR
THE ST JAMES THE LESS PRESERVATION TRUST
A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
THE ST JAMES THE LESS PRESERVATION TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
THE ST JAMES THE LESS PRESERVATION TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05042903 (England and Wales)
Registered Charity number
1103639
Registered office
Spring Bank Arts Centre Spring Bank New Mills High Peak SK22 4BH
Trustees
R P Binch A J Bond Ms J M Cocking D Culliford P Gardner Mrs M Le Messurier-Ritchie P Sharp Ms G Tomlinson
Company Secretary
Independent Examiner
Darren C Cooper FCA A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
Approved by order of the board of trustees on 25th March 2024 and signed on its behalf by:
Ms G Tomlinson - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ST JAMES THE LESS PRESERVATION TRUST
Independent examiner's report to the trustees of The St James The Less Preservation Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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
-
the accounts 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 accounts to be reached.
Darren C Cooper FCA
A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
25th March 2024
Page 2
THE ST JAMES THE LESS PRESERVATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities St James the Less preservation Total EXPENDITURE ON Raising funds Charitable activities St James the Less preservation Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted funds £ 55,039 - 55,039 22,515 31,061 53,576 1,463 1,039,790 1,041,253 |
2022 Total funds £ 41,783 2,667 44,450 13,946 31,804 45,750 (1,300) 1,041,090 1,039,790 |
|---|---|---|
The notes form part of these financial statements
Page 3
THE ST JAMES THE LESS PRESERVATION TRUST
BALANCE SHEET
31ST DECEMBER 2023
| Notes FIXED ASSETS Tangible assets 4 CURRENT ASSETS Stocks 5 Debtors 6 Cash at bank and in hand CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted funds £ 1,020,000 758 1,659 19,526 21,943 (690) 21,253 1,041,253 1,041,253 1,041,253 1,041,253 |
2022 Total funds £ 1,020,000 446 1,220 19,155 20,821 (1,031) 19,790 1,039,790 1,039,790 1,039,790 1,039,790 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 25th March 2024 and were signed on its behalf by:
A J Bond - Trustee
The notes form part of these financial statements
Page 4
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property
- not provided
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Page 5
continued...
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities St James the Less preservation Total EXPENDITURE ON Raising funds Charitable activities St James the Less preservation Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. TANGIBLE FIXED ASSETS COST At 1st January 2023 and 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 |
Unrestricted funds £ 41,783 2,667 44,450 13,946 31,804 45,750 (1,300) 1,041,090 1,039,790 Freehold property £ 1,020,000 1,020,000 1,020,000 |
|
|---|---|---|
Page 6
continued...
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
| 5. STOCKS Stocks 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 8. MOVEMENT IN FUNDS At 1.1.23 £ Unrestricted funds General fund 29,490 Revaluation reserve 1,010,300 1,039,790 TOTAL FUNDS 1,039,790 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 55,039 TOTAL FUNDS 55,039 |
2023 £ 758 2023 £ 605 1,054 1,659 2023 £ - 690 690 Net movement in funds £ 1,463 - 1,463 1,463 Resources expended £ (53,576) (53,576) |
2022 £ 446 2022 £ 1,220 - 1,220 2022 £ 341 690 1,031 At 31.12.23 £ 30,953 1,010,300 1,041,253 1,041,253 Movement in funds £ 1,463 1,463 |
|---|---|---|
continued...
Page 7
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Revaluation reserve TOTAL FUNDS |
At 1.1.22 £ 30,790 1,010,300 1,041,090 1,041,090 |
Net movement in funds £ (1,300) - (1,300) (1,300) |
At 31.12.22 £ 29,490 1,010,300 |
|---|---|---|---|
| 1,039,790 | |||
| 1,039,790 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 44,450 | (45,750) | (1,300) |
| TOTAL FUNDS | 44,450 | (45,750) | (1,300) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Revaluation reserve TOTAL FUNDS |
At 1.1.22 £ 30,790 1,010,300 1,041,090 1,041,090 |
Net movement in funds £ 163 - 163 163 |
At 31.12.23 £ 30,953 1,010,300 |
|---|---|---|---|
| 1,041,253 | |||
| 1,041,253 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 99,489 | (99,326) | 163 |
| TOTAL FUNDS | 99,489 | (99,326) | 163 |
continued...
Page 8
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2023.
Page 9
THE ST JAMES THE LESS PRESERVATION TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and subscriptions | 3,303 | 1,960 |
| Room hire | 13,668 | 14,849 |
| Events | 38,068 | 24,974 |
| 55,039 | 41,783 | |
| Charitable activities | ||
| Other Coronavirus grant income | - | 2,667 |
| Total incoming resources | 55,039 | 44,450 |
| EXPENDITURE | ||
| Other trading activities | ||
| Opening stock | 446 | 476 |
| Bar supplies | 3,984 | 1,774 |
| Consumables | - | 778 |
| Event costs | 18,843 | 11,364 |
| Closing stock | (758) | (446) |
| 22,515 | 13,946 | |
| Charitable activities | ||
| Wages and pension costs | 14,180 | 12,788 |
| Rates and water | 1,459 | 889 |
| Insurance | 2,564 | 2,412 |
| Light and heat | 4,344 | 4,812 |
| Telephone | 447 | 418 |
| Postage and stationery | - | 25 |
| Advertising | 658 | 701 |
| Sundries | 750 | 867 |
| Expensed equipment | 950 | 3,442 |
| Licences and fees | 1,331 | 1,856 |
| Repairs, renewals and maintenance | 2,957 | 1,628 |
| Professional fees | 252 | 252 |
| 29,892 | 30,090 | |
| Support costs | ||
| Finance | ||
| Card machine charges | 479 | 394 |
| Governance costs | ||
| Accountancy fees | 690 | 1,320 |
| Total resources expended | 53,576 | 45,750 |
| Net income/(expenditure) | 1,463 | (1,300) |
This page does not form part of the statutory financial statements
Page 10
REGISTERED COMPANY NUMBER: 05042903 (England and Wales) REGISTERED CHARITY NUMBER: 1103639
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
FOR
THE ST JAMES THE LESS PRESERVATION TRUST
A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
THE ST JAMES THE LESS PRESERVATION TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
THE ST JAMES THE LESS PRESERVATION TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05042903 (England and Wales)
Registered Charity number
1103639
Registered office
Spring Bank Arts Centre Spring Bank New Mills High Peak SK22 4BH
Trustees
R P Binch A J Bond Ms J M Cocking D Culliford P Gardner Mrs M Le Messurier-Ritchie P Sharp Ms G Tomlinson
Company Secretary
Independent Examiner
Darren C Cooper FCA A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
Approved by order of the board of trustees on 25th March 2024 and signed on its behalf by:
Ms G Tomlinson - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ST JAMES THE LESS PRESERVATION TRUST
Independent examiner's report to the trustees of The St James The Less Preservation Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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
-
the accounts 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 accounts to be reached.
Darren C Cooper FCA
A.Allen & Son Limited 45 Union Road New Mills High Peak SK22 3EL
25th March 2024
Page 2
THE ST JAMES THE LESS PRESERVATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities St James the Less preservation Total EXPENDITURE ON Raising funds Charitable activities St James the Less preservation Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted funds £ 55,039 - 55,039 22,515 31,061 53,576 1,463 1,039,790 1,041,253 |
2022 Total funds £ 41,783 2,667 44,450 13,946 31,804 45,750 (1,300) 1,041,090 1,039,790 |
|---|---|---|
The notes form part of these financial statements
Page 3
THE ST JAMES THE LESS PRESERVATION TRUST
BALANCE SHEET
31ST DECEMBER 2023
| Notes FIXED ASSETS Tangible assets 4 CURRENT ASSETS Stocks 5 Debtors 6 Cash at bank and in hand CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted funds £ 1,020,000 758 1,659 19,526 21,943 (690) 21,253 1,041,253 1,041,253 1,041,253 1,041,253 |
2022 Total funds £ 1,020,000 446 1,220 19,155 20,821 (1,031) 19,790 1,039,790 1,039,790 1,039,790 1,039,790 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 25th March 2024 and were signed on its behalf by:
A J Bond - Trustee
The notes form part of these financial statements
Page 4
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property
- not provided
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Page 5
continued...
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities St James the Less preservation Total EXPENDITURE ON Raising funds Charitable activities St James the Less preservation Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. TANGIBLE FIXED ASSETS COST At 1st January 2023 and 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 |
Unrestricted funds £ 41,783 2,667 44,450 13,946 31,804 45,750 (1,300) 1,041,090 1,039,790 Freehold property £ 1,020,000 1,020,000 1,020,000 |
|
|---|---|---|
Page 6
continued...
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
| 5. STOCKS Stocks 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 8. MOVEMENT IN FUNDS At 1.1.23 £ Unrestricted funds General fund 29,490 Revaluation reserve 1,010,300 1,039,790 TOTAL FUNDS 1,039,790 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 55,039 TOTAL FUNDS 55,039 |
2023 £ 758 2023 £ 605 1,054 1,659 2023 £ - 690 690 Net movement in funds £ 1,463 - 1,463 1,463 Resources expended £ (53,576) (53,576) |
2022 £ 446 2022 £ 1,220 - 1,220 2022 £ 341 690 1,031 At 31.12.23 £ 30,953 1,010,300 1,041,253 1,041,253 Movement in funds £ 1,463 1,463 |
|---|---|---|
continued...
Page 7
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Revaluation reserve TOTAL FUNDS |
At 1.1.22 £ 30,790 1,010,300 1,041,090 1,041,090 |
Net movement in funds £ (1,300) - (1,300) (1,300) |
At 31.12.22 £ 29,490 1,010,300 |
|---|---|---|---|
| 1,039,790 | |||
| 1,039,790 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 44,450 | (45,750) | (1,300) |
| TOTAL FUNDS | 44,450 | (45,750) | (1,300) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Revaluation reserve TOTAL FUNDS |
At 1.1.22 £ 30,790 1,010,300 1,041,090 1,041,090 |
Net movement in funds £ 163 - 163 163 |
At 31.12.23 £ 30,953 1,010,300 |
|---|---|---|---|
| 1,041,253 | |||
| 1,041,253 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 99,489 | (99,326) | 163 |
| TOTAL FUNDS | 99,489 | (99,326) | 163 |
continued...
Page 8
THE ST JAMES THE LESS PRESERVATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2023.
Page 9
THE ST JAMES THE LESS PRESERVATION TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations and subscriptions | 3,303 | 1,960 |
| Room hire | 13,668 | 14,849 |
| Events | 38,068 | 24,974 |
| 55,039 | 41,783 | |
| Charitable activities | ||
| Other Coronavirus grant income | - | 2,667 |
| Total incoming resources | 55,039 | 44,450 |
| EXPENDITURE | ||
| Other trading activities | ||
| Opening stock | 446 | 476 |
| Bar supplies | 3,984 | 1,774 |
| Consumables | - | 778 |
| Event costs | 18,843 | 11,364 |
| Closing stock | (758) | (446) |
| 22,515 | 13,946 | |
| Charitable activities | ||
| Wages and pension costs | 14,180 | 12,788 |
| Rates and water | 1,459 | 889 |
| Insurance | 2,564 | 2,412 |
| Light and heat | 4,344 | 4,812 |
| Telephone | 447 | 418 |
| Postage and stationery | - | 25 |
| Advertising | 658 | 701 |
| Sundries | 750 | 867 |
| Expensed equipment | 950 | 3,442 |
| Licences and fees | 1,331 | 1,856 |
| Repairs, renewals and maintenance | 2,957 | 1,628 |
| Professional fees | 252 | 252 |
| 29,892 | 30,090 | |
| Support costs | ||
| Finance | ||
| Card machine charges | 479 | 394 |
| Governance costs | ||
| Accountancy fees | 690 | 1,320 |
| Total resources expended | 53,576 | 45,750 |
| Net income/(expenditure) | 1,463 | (1,300) |
This page does not form part of the statutory financial statements
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