COMPANY REGISTRATION NUMBER: 05316013 CHARITY REGISTRATION NUMBER.. 1111217 THE MOORINGS TRUST Company Limited by Guarantee Unaudited Financial Statements 16 December 2023 ARSDEN & C Chartered accountants OswaldlSt1e Mills Business Centre Clifton Mill Pickup Street Oswald1st1e 8B5 OEY
THE MOORINGS TRUST Company Limited by Guarantee Financial Statements Year ended 16 December 2023 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows 10 Notes to the financial statements 11 The following pages do not fonn part of the financial statements Detailed statement of financial activities Notes to the detailed statement of financial activities 18 19
THE MOORINGS TRUST Company Limitsd by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 16 December 2023 The trustees, who are also the directors for the purposes of Company law, present their report and the unaudited f1nancial statements of the charity for the year ended 16 December 2023. Reference and admlnistrativè delail$ THE MOORINGS TRUST Registered charity name Charity reglstrntion numbor Company registration Dumbgr 05316013 Prlncipal office and registered 15 Pump Street office Blackburn BB2 1PG 1111217 The trustees Mr M Ashcroft Ms K Green Mr G McHugh Company secretary Mrs P Cooper Independent examlnef Marsden & Co Oswald1st1e Mills Business Centre Clifton Mill Pickup Street Oswaldtwislle BBS OEY
THE MOORINGS TRUST Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continu1 Year ènded 16 December 2023 structure. governanc8 and rnanagement Governing document The organisalion is a charitable company limited by guarantee. incorporated on 17th December 2004 and registered as a ¢harity on 7th September 2005. The cornp8ny wa5 established under a Memorandum of Association which establishes the objects and powers of the charitable company and is governed under 115 Articles of Association. In the event of the Gompany being wound up, the members are requ1red to contribute an amount not exceeding £ 1. Recruitment and appointrmenl of Iruslees The directors of the company are also charity trustees for the purposes of charity law. In accordance with the memorandum and articles of association the Iruslees are elected to serve for a period of three years when they (the trustees} musl either sland for reelection or resign. The current Iruslees are well versed in the aims and objectives of the charity and are active on a voluntary basis within the charity's operations Together with the manager and the company secretary la registered communty pharmacist) they work together to achieve a positive outcome for the charity's clients. Trustee induction and training Apart from overseeing the day lo day running of the charity. the Iruslees play an active role in the care and support of the organisation's clients, together with the manager and company secretary. This voluntary role is the subject of ongoing training by a professional training officer, who gives her services without charge lo the charity. Future additional or replacement trustees will receive suitable induction and ongoing training along the same lines with particular attention being paid to'_ The obligations of diwtors and trustees. The historic, current and ongoing financial position of the charity iiil The memorandum and articles of the charity company and the implications of the goveming document. Risk management The organisation has prepared. or has had prepared, policy documents relating lo all relevant risks associated with the charity's activities both internally and extemally and all concerned are fvlly aware of their individual and colle¢live responsibilities thereof. A risk register has been created and is upjated as necessary every Six months. or MO often if an obvious need arises. Additionally, a further register is kept for specific statutory health and safety requirements such as "Testing of gas appliances" "Portable electrical appliances" "Electrical installation testing and the regulatory reform (fire safety) order 2005" elc. Finance is monitored daily and consequently the charty is not exposed to any significant risk5 in thi$ area.
THE MOORINGS TRUST Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Director's Report) {contlnued) Year ènded 16 December 2023 Organisational structure All the aims and objectives of the charity's governing document are fully met. The housing element of the service is organised and administered by the manager together with one part time worker and fv40 volunteers. The care and support element of the service is undertaken by the trustees and the company secretary, as is a minimal "outreach" service for a short period after the client leaves the charity's residential care to live in the community. Related parties The charity works closely with various agencies and authorities, including.. The probation service Various olher'horneless" agencies The local borough council Drug and alcohol abuse cenlres (community drug teams) Total confidentiality is maintsined and the charity is registsred with the information controller under the Data Protection Act. The charity also has an ongoing policy regarding CRB checks of stsff and volunteers. Objectives and activities The principal activities and objects of the charty a.. Benefit the public by providing accommodation, food and clothing lo homeless people over the age of eighteen. Provioje care, support and supeNision to the residents of the charity's hostel. Provide help in managing finance and in making benefit claims. Provide a healthy living diet to the residents and encourage a healthy living lifestyle generally. Monitor medication by the charity's own voluntary community pharmacist. Provide counselling and advice and leach basic living skills where appropriate. Provide social welfare and recreation. iiil Where appropriate, provide help to obtain and live in self contained accommodation within the community. strateglc roport The following sections for achievements and performance and financial review form the Strategic report of the charity.
THE MOORINGS TRUST Company Limitsd by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢onllnu8d) Year ended 16 December 2023 Achlevemonts and porfonnance Homeles5 people over the age of eighteen a provided with accommodatson. food etc within the charity's h05tel. A total of seventeen are housed. Care, support and supervision Care, support and supervision is provided by the manager, the trustees and the company secretary {a registered community pharmacist). The manager is a paid employee of the charity, bul all others involved give their seTvices on a voluntary basis. No expenses of any sort are claimed or paid. The company secretary a150 provides the equipment necessary to record the care. support and supeNision element of the charity's service totally free of charge. The primary objective of the charity 1$ to provide a home for homeless people, where they are welcomed and looked after lalbeil on a variable temporary basis). Where appropraite, health andlor addiction problems are addressed by signposting the resident towards the various appropriate specialist agencies. Eventually, the residents move on, with an acceptable number moving in to self contained accommodation, sometimes with a job also. In virtually every case, a resident leaves the charity's hostel in considerably'better shape" mentally and physically than when they arrived. Outreach service The charity operates a minimal follow up seNice to those leaving, and advice and help is alway5 available either in person or by telephone. Flnancial revigw Funds to carry out the seNice are limited, but by carefully monitonng cashflow Ihe charity has, in its seventeenth year, Worked well within budgets. Principal funding source5 The local council provide the funding for accommodation by way ol housing benefit. The care, support and supervision element of the charity's service is funded by the Iruslees and the company secretsry. Reserves policy Discussions have tsken place regarding a financial reserves policy, and the view of the Iruslees is that a deposit account in the charity's name should be opened with our bank, and a regular monlhty sum should be paid in to that account inorder to build up a cash reserve. The 8mounl to be transferred each month to the reserve account and the dale of commencement will be rjetermined at a future meeting of the trustees. Plans for futufe periods Al the moment there are no plans lo change Of expand the charity's activities, rather lo consolidate. but at future Iruslees meetings plans for the future will be discussed.
THE MOORINGS TRUST Company Limited by Guarantee Tru3tees' Annual Report (Incorporating the Director's Report) (conllnyedj Year ended 16 December 2023 The trustees, annual report and the strategic report were approved on 15 May 2024 and signed on behalf of the board of tnjstees by: Mr G McHugh Trustee
THE MOORINGS TRUST Company Limited by Guarantee Independent Examiner's Report to the Trustees of THE MOORINGS TRUST Year ended 16 December 2023 I report to the trustees on my examination of the financial statements of THE MOORINGS TRUST I'lhe charity'l for the year ended 16 December 2023. Rgsponsibillties and basls of report As the trustees of the company {and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'lhe 2006 Act'l. Having sabsfied 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 the charity's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In arrying out my examination I have followed the Direcbons given by the Charity Commission under section 14515llbl of the 2011 Act Independgnt examlngr'8 Staloment Since the charity's gross income exceeded £250,000 your examiner must be a member of 8 body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales IICAEWI, which Is one of the listed bodies. I have completed my examination. I confinn that no matters have come to my attention in connection th the examination giving me cause to believe.. accounting records were not kepl in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records., or the tinancial statements do not Comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a'lrue and faiv view which is not a matter considered as part of an Independent examination., or the financi31 statements have not been prepared in accordance WTth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021-
THE MOORINGS TRUST Company Limited by Guarantee Independent Examinerfs Report to the Trustses of THE MOORINGS TRUST (contlnu8dJ Year ènded 16 December 2023 I have no concerns and have come across no other matters in connection with the examinatton to which attention should be drawn in this report in order to enable a proper understanding of the accoun15 to be reached. Marsden & Co Independent Examiner Oswaldhvistle Mills Business Centre Clifton Mill Pickup Street oswaldiSt1e 8B5 OEY 15 May 2024
THE MOORINGS TRUST Company Limited by Guarantee statement of Financial Activities (including income and expenditure account) Year ended 16 December 2023 2023 Unrestn'cted funds Total funds Total funds 2022 Nots Income and endowments Charitable activities 255,236 255,236 255,236 255,236 236.731 236,731 Total income Expendlture Expenditure on charitsble activities Total expondlture 264,139 264,139 264,139 264,139 236,486 236.486 Net (expgnditurelllncome and net movement In funds 18,9031 18,9031 245 Reconciliation of funds Total funds brought forward Total funds carrled forward 95,185 93,185 94,940 95,185 86.282 86,282 The statement of financial activities includes all gains and 105ses recognised in the year. All Income and expenditure derive from continuing activities. The notes on pog•s 11 to 16 fomi part of the#• financial statemènts.
THE MOORINGS TRUST Company Limited by Guarantse Statement of Financial Position 16 December 2023 2023 2022 Nots Fixed assets Tangible fixed assets 12 26,866 30,174 Current assets Cash al bank and in hand 65,641 70,769 Creditors: amounts falling due within one year Net current assots 13 6,225 5,758 65,011 59,416 86.282 86,282 Total as$ets less current Ilabllltles 95,185 95,185 Nèt assets Funds of the charity Unreslricled funds 86.282 86,282 95,185 95,185 Total charty funds 14 For the year ending 16 December 2023 the charity wa5 entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities.. The Members have not required the company to oblain an audit of ils financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of Iruslees and aulhorised for issue on 15 May 2024, and are signed on behalf of the board by.. </Vti/ Mr G McHugh Trustee The not•8 on pages 11 to 16 ft)mi part of thèse financlal statèments.
THE MOORINGS TRUST Company Limited by Guarantee Statsment of Cash Flows Year ended 16 December 2023 2023 2022 Cash flows from opèratlng activitles Nel lexpenditurellincome 18,903) 245 Adjuslmenls for.. Depreciation of tangible fixed assets Accrued expenses 10,282 606 8,887 481 Changes in." Trade and other ¢reditors Cash generated from operations Net cash from operatsn9 actsvilies 11391 14981 9.115 1.846 9,115 Cash flows from investing actlvStle8 Purchase of tsngible assets Net cash used in investing activities 16,974} 16,9741 {17,5451 117,5451 Net decrease in cash and cash equivalents Cash and cash equivalents at beginnlng of year Cash and cash equivalents at end of year {5,128} 70,769 65,641 18,4301 79,199 70,769 Thè not¢¥ on pag98 11 to 16 form part of thes• finan¢ial ststements. -10-
THE MOORINGS TRUST Company Limited by Guarantee Notes to the Financial Ststements Year ended 16 December 2023 General Infonnatlon The charsty is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address ol the registered office is 15 Pump Street, Blackburn, 8B2 1 PG. Statement of compliance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Stsndard applicable in the UK and the Republic of Ireland,, the Slalement of Recommended Practice applicable lo Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of I1alld IFRS 1021 Ichanlies SORP {FRS 1021} and the Companies Act 2006. Accounting pollcles Basis of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilitses and investment properties measured al fair value through income or expenditure. The financial stslements are prepared in sterling. which is the functional CurncY of the entity. Going concorn There are no material uncertainties about the charity'5 ability lo continue. Judgements and key sources of estlmatlon uncertainty Accounting estimates and assvmplions are made coneerning the future and. by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of eslimalion uncertainty that have a significant risk of Causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Fund accountlng Unreslricled funds are available for use at the discretson of the trustees to further any of the charitws purposes. Designated hjnds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the temis of an appeal, and fall into one of sub-classes.. restricted income funds or endowment funds. 11
THE MOORINGS TRUST Company Limited by Guarantse Notes to the Financial Statements (contlrtu¢dJ Year ended 16 December 2023 Accounting pollcles {¢¢)nllnu8dJ Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed lo the charity". il is probable that the economi¢ benefits associated with the transaction will flow to the charity and the amount Can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is rectsgnised when there is evidence of enliuement to the gift, reipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is estsblished. income from donated goods is measured at the fair value of the goods unless this 1$ impraclica11o measure reliably, in which case the value Is derived from the cost to the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measufed. No amounts are included for the contribution of general volunteers. income from ¢ontracts for the supply of seNices is recognised with the delivery of the contracted service. This is class1fi as unrestricted funds unless there is a contractual requirement for it lo be spent on 8 particular purpose and returned if unspenL in which case it may be regarded as restricted. Resour¢es expended Expenditure 15 recognised on an accruals basis as a liability is incurred Expenditure includes any VAT which cannot be fully recovered, and Is classified under headings of the stslemenl of financi81 activities to which il relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charrtable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of ils beneficiaries. including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditu that is neither related lo raising funds for the charity nor part of its expenditure on charitable acb'v(ties. All costs are allocated to expenditure categories refle¢ling the use of the resour. Direct costs attributable to a single activity are allocated directly lo that activity. Shared costs are apportioned beeen the activities they contribute lo on a reasonable, jusbfiable and consistent basis. Tangtblè assets All fixed assets are initially recorded at cost. 12-
THE MOORINGS TRUST Company Limited by Guarantee Notes to the Financial Statements Icofttlnu¢d) Year ended 16 December 2023 Accounting pollcles (¢Mtlnued) Depreciation Depreciation is calculated $0 as to write off the cost or valuation of an asset, less its residual value. over the useful economic life of that asset as follows. 20% straight line 200A straight line Fixtures & Fittings Equipment Impalrnignt of fixed assets A review fof indicators of impaimienl is carried out at each reporting dale, with the recoverable amount being estimated where such Indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting dale. For the purposes of impairment testing. when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-genera11ng unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the ash inflows from other assets or groups of assets. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basie financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and Cufrent liabilrties are subsequenuy measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised In income and expenditure. All other such investments are subsequently measured al cost less irnpairment. Other financial instnjments. including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rale of interest that is not a market rate, In which case the asset is meaSUd at the present value of the future payments discounted at a market rate of interest for a similar debt inslrumenl. Other financial inslrumersls are subsequentty measured al fair value, with any changes recognised in the stslement of financial actsvilies, with the exception of hedging instruments in a designated hedging relationship. -13-
THE MOORINGS TRUST Company Limited by Guarantse Notss to the Financial Statements (¢ontlnuedJ Year ended 16 December 2023 Accounting pollcles (¢ontlnued) Flnancial instrumonts (contlnu8dJ Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective eviden of impaimienl, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the Initial gain was re¢ognised. For all equity instruments regardless of signif5cance, and other financial assets that are individually significant, these are assessed Individually for impairment. Other financial assets are erther assessed individually or grouped on the basis of similar credit risk characleri5ti¢s. Any reversals of impairment are recognised immediately. to the extent that the reversal does not result in a carying amount of the financial asset that eXed$ what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee The Liability of the members is limited by guarantee. Charitable activltle8 Unrestri¢led Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Other income from charitable activity 255,236 255,236 236,731 236,731 Expenditure on charitable activities by fund type Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Activity type 1 264,139 264,139 236.486 236,486 Expendlture on charltable activltles by activlty type Activities undertaken Totsl fund8 directly 2023 Total ftjnd 2022 Activity type 1 264.139 264,139 236,486 Net lexpenditurellincome Net lexpenditure)lincome is slated after chargingllcredilingl.. 2023 2022 Depreciation of tsngible fixed assets 10,282 8,887 -14-
THE MOORINGS TRUST Company Limited by Guarantse Notss to the Financial Statements fcontlnv8dJ Year ended 16 December 2023 Independent examlnatlon fe 2023 2022 Fees payabSe lo the independent examiner for.. Independent examination of the financial statements 1,200 1,200 10. Staff costs The average head count of employees during the year was I 12022.. 11. The average numbef of full-lime equivalent employees during the year is analysed as follows.. 2023 2022 No. No. Number of staff - management No employee received employee benefrts of more than £60,000 dunng the year12022". Nill. 11. Trustee romuneratlon and expen898 No remuneration or other benefits from employment with the charity or a related entity were received by the Irustees12022 - none). 12. Tanglble fixed assets Fixtures and fittings Equipment Total Cost At 17 December 2022 Additions 9,338 1,085 10,423 35,101 5.889 44,439 6,974 51,413 At 16 Decem1 2023 40,990 Depreciation Al 17 December 2022 Charge for the year At 16 December 2023 3,542 2,084 5,626 10,723 8,198 18,921 14.265 10.282 24,547 Carrying amount At 16 Decgrnber 2023 4,797 5.796 22,069 24.378 26,866 30,174 At 16 December 2022 13. Creditors: •mount8 falllng due wlthln ong year 2023 2022 Trade creditOTS Accruals and deferred income 781 920 4,838 5,758 6,225 15-
THE MOORINGS TRUST Company Limitsd by Guarantse Notss to the Financial Statements Icontlnu Year ended 16 December 2023 14. Analysis of ¢harltablo funds Unrestrlcted funds At 17 December 2022 At 16 December 2023 Income Expenditure General funds 95,185 255.236 1264,1391 86,282 Al 17 December 2021 Al 16 t)ecember 2022 Income Expenditure General funds 94.940 236,731 1236,486} 95,185 15. Analysls of net asgèts betweèn funds Unrestncted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year 26,866 65,641 16,2251 86,282 26.866 65.641 16,2251 86.282 Net assets Unrestricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year 30,174 70.769 15,7581 95,185 30,174 70,769 15.7581 95,185 Net assets 16. Analysis of changes in not debl At At 17 Dec 2022 Cash flow$ 16 Dec 2023 Cash al bank and in hand 70,769 15,128) 65,641 16-
THE MOORINGS TRUST Company Limited by Guarantee Management Information Year ended 16 Decembor 2023 The followlng paggs do not forn) part of the financial Statements. -17-
THE MOORINGS TRUST Company Limitsd by Guarantee Detailed Statement of Financial Actlvities Year endod 16 December 2023 2023 2022 Income and endowments Charitable actlvlties Other income from charitable aclivty 255,236 236,731 Total income 255.236 236,731 Expenditure Expendlture on charitable activities Wages and salaries Rent Rates and water Light and heal Repairs and maintenance Insurance Legal and professional fees Telephone Other office costs Amortisation Depreciation Bank charges and interest Postage, stationery and advertising Licences and subscriptions Health and safety 113,261 44,671 6.589 9.096 32,140 2,170 1,200 3,757 927 1,125 10,282 156 716 318 37,731 264.139 107,667 44.671 6.150 11,677 11,702 1,932 1.200 3,266 858 1,110 8,887 165 501 1,392 35,308 236,486 Total expendlture 264,139 236,486 Not lexpenditurnllln¢orne {8,903) 245 18-
THE MOORINGS TRUST Company Limited by Guarantse Notes to the Detailed Ststement of Financial Activities Year ended 16 December 2023 2023 2022 Expendlture on charitable activitles Activlty type 1 Activities undertaken dirnctly Direct charitable activity l - wage$ and employers nic Direct charitable activity 1 rent Direct charitable activity 1 rates and water Direct charitable activity 1 light & heat Direct charitable activity 1 repairs & maintenance Direct charitsble activity 1 insurance Direel charitable activity 1 bookkeeping Direct charitsble activity l - telephone Direct charitable activity 1 sundry expenses Direct charitable activity 1 licences and subscriptions Direct charitsble activity 1- depreciation Direct charitable activity 1 bank charges and interest Direct charitable activity 1 postsge, ststionery and advertising Direct charitable activity 1 licences and subscriptions Direct charitable activity 1 food and cleaning 113,261 44,671 6,589 9,096 32,140 2.170 1,200 3.757 927 1,125 10,282 156 716 318 37,731 264,139 107.667 44,671 6,150 11,677 11,702 1,932 1,200 3,266 858 1,110 8,887 165 501 1,392 35,308 236,486 Expenditure on charitable a¢tlvltles 264,139 236,486 19-