2024-03-31-accounts - M5nine Community Projects

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M5nine Community Projects

Charity No. 1125819

Trustees' Report and Unaudited Accounts

31 March 2024

M5nine Community Projects Contents

	Pages
Trustees' Annual Report	2
Statement of Financial Activities	3
Balance Sheet	4
Statement of Cash flows	10
Notes to the Accounts	5 to 9
Detailed Statement of Financial Activities	11 to 12

Page 1

M5nine Community Projects Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1125819

Principal Office

Northway Hub 17 Church Street Tewkesbury Gloucestershire GL20 5PD

Trustees

The following trustees served during the year:

L. Else

L. Watkins

Accountants

Amstone Management Limited Powys Lodge 6 Court Road Strensham Worcestershire WR8 9LP

PLANS FOR FUTURE PERIODS

There are no plans to change the way that the charity operates in the foreseeable future

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

L. Else Trustee 26 January 2025

Page 2

M5nine Community Projects Statement of Financial Activities

for the year ended 31 March 2024

Unrestricted funds	Total funds	Total funds
2024	2024	2023
£	£	£

28,161	28,161	20,708
28,161	28,161	20,708

200	200	-
18,140	18,140	24,574
18,340	18,340	24,574
-	-	-
9,821	9,821	(3,866)
-	-	-
9,821	9,821	(3,866)

9,821	9,821	(3,866)

2,815	2,815	6,681
12,636	12,636	2,815

Page 3

M5nine Community Projects Balance Sheet

at 31 March 2024

Charity No. 1125819 Fixed assets Tangible assets 7 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 8 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 9 Unrestricted funds 9 General funds Reserves 9 Total funds Approved by the trustees on 26 January 2025 And signed on their behalf by: L. Else Trustee 26 January 2025	2024 £ - 16,594 16,594 (3,958) 12,636 12,636 12,636 12,636 12,636 12,636 12,636	2023 £ - 6,773
		6,773 (3,958)
		2,815 2,815
		2,815
		2,815
		2,815
		2,815
		2,815

Page 4

M5nine Community Projects Notes to the Accounts

for the year ended 31 March 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 5

M5nine Community Projects Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 6

M5nine Community Projects Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from: Donations and legacies Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies 4 Expenditure on charitable activities Expenditure on charitable activities Governance costs	Unrestricted £ 28,161 28,161 Unrestricted £ 200 200	Unrestricted funds 2023 £ 20,708 20,708 24,574 24,574 (3,866) (3,866) (3,866) 6,681 2,815 Total 2024 £ 28,161 28,161 Total 2024 £ 200 200	Total funds 2023 £ 20,708
			20,708 24,574
			24,574
			(3,866)
			(3,866)
			(3,866) 6,681
			2,815
			Total 2023 £ 20,708
			20,708
			Total 2023 £ -
			-

Page 7

M5nine Community Projects Notes to the Accounts

5 Other expenditure

Employee costs Premises costs General administrative costs Legal and professional costs 6 Staff costs Salaries and wages Social security costs No employee received emoluments in excess of £60,000. 7 Tangible fixed assets Cost or revaluation At 1 April 2023 At 31 March 2024 Depreciation and impairment At 1 April 2023 At 31 March 2024 Net book values At 31 March 2024 At 31 March 2023 8 Creditors: amounts falling due within one year Other taxes and social security Accruals	Unrestricted £ 14,004 2,950 201 985 18,140 2024 14,004 - 14,004 2024 £ -	Total 2024 £ 14,004 2,950 201 985 18,140 £ 5,635 5,635 5,635 5,635 - -	Total 2023 £ 19,347 2,991 1,396 840
			24,574
			2023 18,740 607
			19,347
			£ 5,635
			5,635
			5,635
			5,635
			-
			-
			2023 £ 916
	3,958		3,042
	3,958		3,958

Page 8

M5nine Community Projects Notes to the Accounts

9 Movement in funds

Incoming resources (including other gains/losses ) £ 28,161 28,161 At 1 April 2023 £	Resources expended £ (18,340) (18,340) Unrestricted funds £ 12,636 12,636 Cash flows £	At 31 March 2024 £ 12,636
		12,636
		Total £ 12,636
		12,636
		At 31 March 2024 £
6,773	9,821	16,594
6,773 6,773	9,821 9,821	16,594
		16,594

Page 9

M5nine Community Projects Statement of Cash flows for the year ended 31 March 2024

Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities Adjustments for: Increase in trade and other payables Net cash provided by/(used in) operating activities Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2024 £ 9,821 - 9,821 - - 9,821 6,773 16,594	2023 £ (3,866) 1,253
		(2,613)
		-

		-

		(2,613)
		9,386
		6,773

Components of cash and cash equivalents
Cash and bank balances	16,594	6,773

	16,594	6,773

Page 10

M5nine Community Projects Detailed Statement of Financial Activities

for the year ended 31 March 2024

Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Employee costs Salaries/wages Employer's NIC Premises costs Rent Rates General administrative costs, including depreciation and amortisation Bank charges General insurances Software, IT support and related costs Stationery and printing Sundry expenses Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure)	Unrestricted funds 2024 £ 28,161 28,161 28,161 200 200 200 14,004 - 14,004 2,950 - 2,950 82 26 - - 93 201 840 145 985 18,140 18,340 - 9,821	Total funds 2024 £ 28,161 28,161 28,161 200 200 200 14,004 - 14,004 2,950 - 2,950 82 26 - - 93 201 840 145 985 18,140 18,340 - 9,821	Total funds 2023 £ 20,708
			20,708
			20,708 -
			-
			- 18,740 607
			19,347
			2,911 80
			2,991
			84 385 87 840 -
			1,396
			840 -
			840

			24,574
			24,574 -
			(3,866)

Page 11

M5nine Community Projects Detailed Statement of Financial Activities

M5nine Community Projects Detailed Statement of Financial Activities
Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	9,821 - 9,821 2,815 12,636	9,821 - 9,821 2,815 12,636	(3,866) -
			(3,866)
			6,681
			2,815

Page 12