COMPANY REGISTRATION NUMBER: 06796689 CHARITY REGISTRATION NUMBER: 1128332 The Mary and Margaret Charity Company Limited by Guarantee Unaudited Financial Statements 31 January 2024
The Mary and Margaret Charity Company Limlted by Guaranlee Flnanclal Slatements Year ended 31 January 2024 Page Trustees, annual report lincorporating the directOT'S report} Independent examinerfs report lo the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The followlng pages do not form part of the flnanclal st&temenl8 Detailed statement of financial activities Notes lo the detailed slatemenl of financial activities 13 14
The Mary and Margaret Charlty Company Limlted by Guaraniee Trustees, Annual Report (Incorporatlng the Dlrocior's Report> Year ended 31 January 2024 The Iruslees, who are also th8 direclors lor the PUTPOS8$ ol company law, present Ih8ir roport and the unaudited linancial statements ol lh8 charity lor the year ended 31 January 2024. Relorence and •dmlnlslr8llve detall8 The Mary and Margarel Charity 1728332 Reglstered charlty name Ch#rfty r8glslr8tlon number Comp8ny reglslrntlon number 06796689 Prlnclpal offloè and reglster•d 3 Church Lan8 olllc• Glaslonbury Som8rsel BA6 9JQ Tho Iru•lo08 Mr O Holland MrAJPuoh Rev D McGeo¢h Rev O Greenliehj Ms E Tham Mr J Hefiz Smith Mrs E A Pearson Mr C L Craig Mr M W Fqahn Mr P C Manning (Dled 18 Juno 20231 IRetir8d 26 Juno 20231 IAppoini•d 22 Novemb•r 20231 COmpY Secretary D Holland Independenl •xomlner Birgil Kolschi FCCA MAAT Selwood Accounls and Tax Ltd 36 Sèlwood Road Glaslonbuiy Somersel BA6 8HW Structure* governttnce •nd monagemenl The board ol Trusl8&S meet regularly and arg rfysponsible lor the clay lo day runnino and adminisiralion ol Ihe eharily, making orant applications and communicating wlh th8 DioGos6 and Sl Benedicl's Chur¢tt in Glaslonbury. Andrew Puah. a much valuod and (Igdicaled truslee digd and Sandra Booth, our lalenièd head gard&ner f81iied. Both will be missed. In addition, Revd Diana Greenlield rosigned as she has moved lo North Wales. The Irus18es will be seeking new p8ople lo lead the charity inlo the lulure.
The Mary and Margaret Charlly Company Llmited by Guaranlee Trustees, Annual Report (Incorporaling the Dlrecior's Report) (Wrflnu¢d) Year ended 31 January 2024 ObctIV9$ and 8ctlvttle8 Th8 companvs objective8 ar8'.- the advancement ol the Christian lailh in accordance with the doctiines ol thè Church ol England. the advancement ol the arts, culture and heritage,. and the advancement ol education principally. Ihough not exclusivoly, Ihroltgh Ihe upkeep, developmeni aTrJ management ol the Royal Magdalène Almshous8s and Sl Margaret's Chap81. The Iruslees have had due regard lor th8 guidance published by the Charilies CoMmissn on public bgnglil, and ar8 satlsllod Ihat Ihe objeclivps meet the guldan¢e. Achlevemgnts and performance We beligve that we are the only local attraction lo 0118r free acce$$ lo all. LoO.g ahead we plan lo delv8 de8per into th8 history ol the silè, il's design and structure and the crall skills needed lo build it. This will then be in18rpr818d using digital technology to enable visitors lo access the information bul this will also bè shared on a national education hub so that schools.sludenls and resgarchers can learn about this important heritage site r8moiely. After 700 yeats this Christian chapel is Still a plac8 ol connection.prayer and healing and il is important lo pr8serye and proleei it. Wè are gratelul lo all Ouf Iruslees and volunlegrs lor thèir loving care and support ol Ihls place. FlTrancl81 revlew The Iruslèos report a loss all8r depreciation of £7395 lor the year. The r859rve policy ol the charity is lo hold funds lo ijntsrlak8 lulure projects and financial commitments that may span over several yèars. Thgrg werg no material Commitments to SP9ciIic projocls in this and the preceding accounting pefiod.As al 31 January 2024 the charity had unrestrioled funds of £551951£62590-20231. Plans for luturo perlods Tho tfLl$tee¥ have been chaJlèng&J managing the movemenl in ihe gaNo ènd wall of th8 chapel.Cracks have appèared ov8r recent years and Ihe door has dropped making it more dillicull lo open and close. We employed slruclural engineers to advise us and carry out remedial work. Th8 wall now has s8veral stainless steel fods pulling the Iwo sides logelher slowly.They will b8 monitored over thè next 5-10 pars. Sm•ll company prov181on• This report has L*8n prepargd in accordance Ihg provisions appIrat& lo companies enlilled to the small compant9s exemption.
The Mary and Margaret Charlty Company Llmll8d by Guarantee Truslees, Annual Report (Incorporatlng ihe Direclor's Report) Iwillnufjdj Year ended 31 January 2024 Th8 trustees, annual report was approved on 16 Soplember 2024 and signed on behalf ol Ihg ty)ard ol trustees by.. Mfs E A Pearson Trustee D Holland Char¢ty Secretary
The Mary and Margaret Charity Company Llmlted by Guaranlee Indop8ndent Examln8r's Report lo the Trustee8 of The Mary and Margaret Charlly Year onded 31 January 2024 I rert lo the Irusiees on my examination ol the financial slalements c1 Th¢ Mary and Margel Charity I'lh6 charity) lor the year ended 31 Januaiy 2024. Re•pon•lblllllo• •nd bfj•l• ol ieporl A8 the Iru81008 ol the company land also ils dilgciors lor the puip¢$es ol company lawl you af8 r8sponsiblg for the preparation ol the linancial $lalwnènts in accordance with the r8quiremenis ol the Companies Act 20061'lhe 2006 Acl'l. Having satislied mysell Ihai the ac¢ounis ol th8 company are noi required lo be audited under Parl 16 ol the 2006 Acl and are oligible lor ind8pandenl examination. I reporl in resp8¢1 ol my examinali¢n ol the charlty's accounts as carried oul under seclion 145 01 the Charitios Aci 2011 I'lhe 2011 Acl'l. In carrylng out rny examinalion I have followed the Direciions given by Ihe Charily Commission under secllon 1451511bl ol the 2011 Act. Indopondont ex•mlnorf1 ¥latemenl I hav8 complel8d my examination. l ¢onlirm Ihai no maii¢rs have t>)mo lo my attention In connocllon with the examination olvlng me cause lo believe.. accounlino iecords ww• not kept in i08pt ol ltte charlly as requlred by seGllon 388 01 tho 20C6 Aci., or th• Ilnancial slalèmenls do not ac¢ord wllh tho80 records.. or the linanclal Slalemgnts do nol comply wllh the a¢¢ounling requlromonls ol g•¢tion 396 01 Iho 2006 Aci other than any requirem8ni Ihal the accounts glve a 'lrue and lalr, view whlch18 not a maller ¢onsid8red as parl ol an indapendenl examination,. or the Ilnanclal slaigmenls havo not b8on prèpared in 8ccordanc8 wilh Ifio melhod$ and prlncipl&s ol lh• Sialgmgnl ol R•commended Pra¢iico for accounling and reporlino by charities applicatJ8 lo charities preparing thèir accounts in a¢cordance wllh tho Financial Reporting Standard applicab19 in the UK and Republic ol Irèland IFRS 1021. I have no con¢ern$ and have como across no other matters in connection with Iho examlnalion lo which allènlion should be drawn In Ihls roporl in order lo enablè a propor underslanding ol the accounls lo b8 reached. 8irgil Kolschi FCCA MAAT Ind8pendenl Examiner S8hvood Aount8 and Tax Ltd 36 Sglwood Road Glaslonbury Sorn8r$el BA6 8HW
The Mary and Margaret Charity Company Llmlted by Guarantee Statement of Flnancial Actlvitles (includlng Income and expndlture account) Year ended 31 January 2024 2024 Unr8slricled funds Total fund8 TotJ lun(Is 2023 No Income ond endowment$ Donations and legacies Total Ineome 39.524 39.524 39,524 20.832 39,524 20,832 Expendllure EXndituTe on charilala aclivilies Tolal expendlture 46,919 46,919 46,919 29,568 46.919 29,568 Nel exptrnd1tu 8nd nel movement In funds 17,3951 17,395> 18,7361 Reconclllatlon of lunds Total lunds brought forward Total lund$ ¢•rr18d forward 62,590 62,590 55,195 71,326 62,590 55,195 The slalemenl ol financial aclivilles indudes all gains and losses recognised in the year. All income and gxp8ndilur& derive Irom continuing aclivitses. Th• nol•* on pago9 7 to 11 lomi part of those Ilnanclal Jtstemgnts.
The Mary and Margaret Charity Company Llmltad by Guarantee Slalement of Flnanclal Positlon 31 January 2024 2024 2023 14ot Flxed a8•et• Tanglb18 Ilx•d asseis 13 33,010 34,727 Currenl as8018 Stocks Debtors Cash al bank and in hand 14 15 1,400 310 22,204 23,914 1.350 200 26,448 27,998 Cr•dltorA: amountB1olllng duo wllhln one year Nol currenl •••ol• 18 1,729 135 22,185 27.863 Toial a8•el• l••• curronl Il•bllS11•• 5S,195 62,590 Fund• ol Iho ch•rlly Unieslricted lund8 55.195 55,195 62,590 62.590 Total charlty lundA For th8 yoar anding 31 January 2024 the Gharlly was enlillod to 8x8mpllon from audil under sec1 477 01 the Companlgs Act 2006 relallng lo small companios. Dir•¢iors' rgspjnsibllllies: Tho mambers have not required thè company lo oblaln an aud51 ol Its linancSal slat8m8nis lor th• yoar in qu•$lion in accordance with 80clion 476,. The directors a¢knowledge Iheir reswnsibililies lor complying wilh the requirements ol ihg Acl with re$poci lo accounting records and the preparation ol linanclal sla18menls. Thèso financial slal8m8nls have b88n prepared in accordance with the provisiong applicable lo companies sublecl lo the small ¢ompani89' reoim8. These Ilnanclal slalements w8r8 ap0Ved by Ihe board ol Iru81088 and aulhorisod lor Issuo on 16 Soplember 2024, and are slgned on behdl ol the board by.. Mi D Holland Trusloè Mrs E A Pèarson Trusleo Th• nol•• on pogm 7 10 11 lorm p•rt ol Ih••• Ilnancw •tslwn•nl•.
The Mary and Margarel Charlty Company Limlted by Guarantee Notss to Ihe Flnanclal Statemenls Year ended 31 January 2024 Gener81 Infom)8llon The charity is a public benelit entity and a Pfivate company limiled by guarantee, reg151ered in England aThY w&S and a registered charily in England and WJes. The address ol the regislerod oflice is 3 Churth Lane, Glaslonbury. Somersot. 8A6 9JQ. Statement ol compllance These linanryal slaloments hav9 been prepared in Gotnpliance with FRS 102, The Financial Reporting Standard appliCate in the UK arKJ the Republic ol Ir8land', th8 Slalemeni ol Recommendod Practice applicable lo ¢hari11os preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and R6public ol Ireland IFRS 1021 Ichanlies SORP IFRS 10211 and the Companies A¢1 2006. Aecountlng pollcles Basls of preparallon The financial sialemenls hav8 been prepared on ihe hisiorical cost basis, as modllied by ihe revaluaiion ol cerlain financial assets and liabilities and investment propertios measured al lair vue through incom8 or expendilui8. Th¢ linancral statements are prepar0d in sterling, which is the functional Currency of the onlity. Golng Concern There are no material un¢ertainlies about the charity's ability lo continue. Judgements and key sourceB of e8ilmallon uncertalnly The preparation ol the financial slalements requires rnanaaernènl lo make judgements, eslirnaies and assurnptions that allocl the amounts reported. These eslimal8s and judgements are continually reviewed and are based on exrienCe and other factors. including expectations ol luturo events that arg believèd lo be reasonable under the circumstances. Fund accounllng Unreslricled Ikjnds are available lor use al the discrotion ol the Iruslees lo ILÈrthw any ol Ihe charily's purposos. 08sionai8d funds are unr&slrict8d lunds earmarked by the Iruslees for particular lulur8 projtscl or commilmeni. Reslriclgd lunds aro subjected 10 restrictions on their expenditure d8clarod by lh8 donor or Ihrouoh tho 18rms ol an appeal. and I1 into one ol two sub-classes.. r8slTici•d income funds or &ndowmenl lunds.
The Mary and Margaret Charlty Company Llmited by Guarantee Notes to tho Financlal Statements {•71fvllt8dJ Year endod 31 January 2024 Accountlng pollclei {eOnvnJ Incomlng re8ouice• All 1rolng resources are included In the Slalemenl ol linanclal aclMb88 when eniiuemenl has pass1 lo the charity,. it is probable that tho economic beneltts associated wlh the transaction will flow 10 Ihe chwtty and the amount can be reliably rngasured. The lollowing spocili¢ pol108 ar8 applied lo particular categories ol incom8'. income from donations or grants rs recognised when Ihorg is evidence ol entillemenl lo Ihe gill. receipt Is probable and its amount can b8 m8asured reliabty. legacy incomg is recognised when re¢eipl is probatA8 and 8nlillemént IS gs1*ish8d. income Ifom donated gotxls is measurod al the lair value ol the go¢xls unless Ihis L8 ImpraCtal lo measure reliably, in which case th8 vaue is derived from the cosi lo the donor or the eslimaled resale valua. Donaled lacililies and services are recognised in the accounts when received il the value can b8 reliably measured. No amounts afe Includ lor the conlribLttion ol general volunl8ors. incom8 from contracts lor the supply ol sermces is i8gniSed witt) tho delivwy ol th6 contracl&Y service. This is classified as unreslricled lunds unless ther8 is a contractual raquiremenl lor il to be sp8nl on a particular purp098 and returned il unspent. in which case il may be reoardod as r&slricted. Rasources expendod Expenditure is recognised on an acGruals basis as a liabilily is incurred. ExFendilurg includes any VAT which cannot bo lully recovered, and is classified under headings ol thg slalemenl ol Ilnancial activities lo which il relal8S'. exp8ndilur8 on rwsing lunds includes the costs ol all fundraising acllvilies, &venis. non- charilable trading aolivilies, and the sale ol donated goods. expenditure on charitable acliwlias includes all costs incurred by a charity in undertaking aciivilies that further ils charitable aims lor the benefit ol ils beneficiwies, including those support costs and costs relating lo the govgrnance ol the charity apportion&l to charitable a¢livilie5. other expeIllure includes all expenditurè that is neilh8T related to Taising funds lor the charity nor part ol ils expendilure on charitable activiti8s. All costs arg allocated to &Kpendilure categories reflecting the use ol the resource. Dlrecl costs attfibulable lo a sinol& activity af8 allocalgd dir8etly to that aclivily. Shared costs are apportioned betr4een th8 acllvilies they contrib(rt• to on a roa50nabl8, jusliliable arKJ consisienl basis. T•nglble a$80ts I fixed assets a18 initj.ally 18¢orded ai Coyi.
The Mary and Margaret Charlty Company Llmited by Guarantee Notes to Ihe Flnanclal Statement8 (conllnuOLI) Year ended 31 January 2024 Aceountlng pollcles {conllnu•d) Depre¢L8llon Depreciation is ccUlated so as lo wrlle oll lh8 co$1 or vduation ol an assot. less Its rosidual value. over Iho uselul economic life ol Ihal asset as lollowg.. 2Vo straiohl line 10% straight line Land and Buildings Fixlur8s and Fillings Impalrn)gnt of Ilxod u8et• A review lor indicators ol Impairmenl is carrigd out al each rtporling dale. with Ihe recovèrable amounl boing eslimai•d wherg such indicators exisl. Whoro Ihe Carrn0 value exeèods the recoverable amount. th8 asset is impaired accordingly. Prior impairmonl$ are also roviewed lor possiblo rèversal al gach raporting ¢JalO. For th8 purposes ol impairment lesling, when il is not possible lo &slimale the rocov8rabl8 amount ol an indivKlual assel. an eslimale is mado ol tho recoverable amounl ol the cash. gonoraiing unil lo which the asset bèlonos. Th8 cash-generatino unil Is the smallèsl Idenliliable group ol ass•is that Includos tho assal and generates Gash inllows that largoly indopendenl ol Ihe ca$h inllows from other ass8ls or groups ol assets. For impairmonl l¥$ling ol goodwill, tho goodwill acquiiod in a bu$ino9s ¢ombinalion 1$, Irorn Ihe acquisition date, allocaled lo 8ach ol Ihe cash-generaling units that ar8 expoGled to l)enelil Irom the synergies ol Ihe combination, iirespecllvo ol whelh&r Olher assets or liabililigs ol Ihe charity are assigned lo Ihosg unils. Siock# Stocks arè measured ai the lower ol cosl and e$tlmaled selllng prl¢o less Costs lo comple18 and sell. Cost includes all costs ol purchase, cosls ol cnnversion and other cost$ incuired in bringing the stock 10 Ils pies•nl location and condition. Umlted by gujronloe The company is limited by guarante&. Donollons and legocle8 Unr¢8lrictod Total Funds Unreslricted Tolal Funds Funds 2024 FutKIs 2023 Donallons Donaiions and lundraising events Shop in¢om8 11,504 28,020 39,524 11,504 28,020 39.524 6,092 14,740 20,832 6,092 14,740 20,832
The Mary and Margaret Charlty Company Limlted by Guarantae Notes lo the Fln8nclal Slatements (willnu•d? Year ended 31 January 2024 Expendllurn on charllable 8¢tlvllS08 by fund typo unreslric18d Totsl Funds Unr¢siri¢tèd Total Funds Funds 2024 Funds 2023 Donaltons received 46.919 46.919 29,568 29.568 Expendllure on ch•rltable actlvllle• by •¢tlvlty typo A¢iivili08 undertaken Totsl lund• diroctly 2024 Total fund 2023 Donalion8 rec•iv•d 46,919 46,919 29.568 An•ly•l• ol •upporf co•1• Analysls ol support costs actlvily 1 Total 2024 Told 2023 Generai ollic8 4.785 4,785 3,014 Nfjl exp•ndllure Not expendllure 1$ $iaied aller charglngllcrodliingi-. 2024 2023 Depf•o4allon ol langlblo Ilxod a8se18 1,717 1,717 10. Ind•p•nd•nl 0mInatIon l••• 2024 2023 Faos payabl8 lo the indgpondgnl gxaminor for.. Independent examination ol the linanGial slalèmenls 600 11. 8lall cos1• The av8rag8 head couni ol •mployees durlng the year was 1212023.. 121. Thè av8raoe numbor ol lull-lime equivalent •mploye8s durino the year is anaysed as lollows. 2024 No. 2023 No. Volunteer staff 12 12 No 80Yea rece$d omploy80 tenelils ol more than £60,O¢JO during the ar12¢Y23. Nill. 10-
The Mary and Margaret Charlty Company Limlted by Guaranioe Noles lo the Flnanclal Slatemenls i¢Mtlnu•d) Year ended 31 January 2024 12. Trustee remunerntlon and expense• no r8muneralion OT other bonelils Irom amploym8nl wih the chw'ty or a felaied enlily wero r8cwved by the Irusiees., 13. Tanglble flxed assets Land and Fixtures and buildings fillings Total Co•1 At 1 February 2023 ond 31 J8nu•ry 2024 Deprecootlon Ai i Febiuary 2023 Charoe lor the year Al 31 J•nuary 2024 C•rrylng amount Al 31 J•nu8ry 2024 Al 31 January 2023 41,427 8.899 50,326 9.902 828 5,697 15,599 1,717 17,310 10,730 6,586 30,697 2,313 3.202 33,010 34,727 31,525 14. Slock• 2024 2023 Raw materials and consumable8 1,400 1,350 15. OeblOf• 2024 2023 Trade d&blors 310 200 16. Credllor•: amoun1• l•lllng duo wiihln one ye•r 2024 2023 Trade creditors 1,729 135
The Mary and Margaret Charlty Company Limlted by Guaranlee Note8 to the Dolalled Sl8l•m•nt of Flnanclal Actlvltles Year ended 31 Januory 2024 2024 2023 Expendlture on charltsbl• acllvllles Don8tlon8 rwcelved Actlvltle8 undertoken dlrnclty Opèning slo Purchases Closing stock Aales & walor Light & heal Repaifs & mainlenan¢e Insurance Prolessional leos OlliG& and Admlni8lralion ¢0818 D8pr8cialion Advertising. brochurès. siallonery and website Garden. shop and chapel oxpen$es Evenl cos1$ 88nSt chafg•s 1.200 6,403 11,3501 219 1,356 9,693 793 J4,226 (1.4001 353 2,156 13,285 627 600 3,014 1,717 924 4,001 1.520 78 1,717 1.907 6026 1297 46.919 29,588 ExndItur• on charftsble •dl¥llle• 46,919 29,568 14-