Cc*npaThy rtgisiratbon number.. 06921078 Charity rcgisttxtioTh numbcr". 1130189 Madeley Rural Community Charity (Acompgny limited by Quaran￿) Annual Report aDd FinarKial the Year Ended 31 March 2023 'ACIZVF694 2311212023 COMPANIES HWSE 1111 Dgryl DeiK8on The D￿1$0￿ Centre Sireet Hanley SIDke on TT¢nl STI 5DJ) #131 Madeley Rur*l Community Charity Contents Referertce And Administrotivc D¢iails TnLSt¢¢s' Rcport 2ro3 lo(kpendcnt Examinels Repm Siaiem¢nt of Fjnwial Athiyilits Balanrc Sl*¢t Notcs io the Finwnciol Sw¢Tt*nts 7t0 19 Madeley Rural Community Ch*rlty Reference and Admini5tr2tive Del¥i1s Trus(ee5 D￿￿k Miller Mich8el Breraon Roy Duiiort Jamic Stcphcnso S¢ephetL EIIi$ 1130189 Charli> Ilegfj$tr•iion Numb¢i CompAts> Reeistratlott Number 06921078 The charity is incorporared in FA]81a￿l •Nd IVAks. New Road Madel¢y Crcwe Cheshire CW3 9DN Reti#ertd 0￿1¢• IndepeDdeNt Ex*miNer DJryl t)cnson Tlie Dudson Ceni¥e Hope Sirtei Hanl¢y Stoke on TTeThi STI SDD BRnktrs PO Box 250 DeifHouse SDUth￿aY Skclmer5dale IVN8 6WT P•ge I MadÈlty Rural Community Charity Tru$ttes' Reporl The tn]stees. who arc dire¢tOTS for tht purposts of conpny law, prLsent Ik aThr￿￿ rewt tO8tthcr ￿7Th the rijthncial stat¢menl$ of the ¢haritable cowy for the ytsr ¢nded 31 Marrh 2023. Objectives and *¢iivities Ohjeets *Tndllims Th¢ ¢ha(iiy's obi¢ctives ar¢ 10 provide the local rurJl ¢ommuniite5 with optthlwiilic5 for l¢amin8. health and ¢ommiiniiy eiilcrprise. 11 inienils to achie%% this by 0sKrniin8 a nitslii-use ¢ommuTrily r¢nue. In pani¢ular ourobje¢iii'es a￿1 thchie%tm¢nts ar¢." To maint4in a mulri-U5e ¢ommunity rentr¢ To secllre ongoin8. and pledictable and su#ainabl¢ income To build and mainiaiTh sutrlcicnl reserves ￿ provide cominuily ofsctvi To PTDvidt local pwk with high quality l¢iwre and Irarnin8 aclivilics. We are OFcraliii8 ihe comfflunily c¢￿tre for ihe bencfli of iht inhabiwits resid11￿ wiihin a 10 milc radius ofihe cenlre. The ctttir¢ is ￿1ftB ￿ed iti partI￿laT ffx medin¥s. le¢Thres and classes and for oth¢r fwms of rrrration and Ici5urc rirne occupati¢)n, in thc inierests of Social iv¢lfaT¢ aml ivith the i)bjcct of iinproviDg thB condirioThs of lile of Ihc inhabitsnts ihiended to b¢ncfii. The irnsiees cojifim) that iliey havc coinplied ￿1th the requirunents of seciion 17 of the Chariiies Act 2011 ro have due re8aTd to public benefit 8uidance publish¢d bv the Chatity Conuni5si¢)D for England and Ivalcs. Trusl¢es #Ad •ffi¢¢rs Ttle tru5tee5 ¥Dd 0￿[CcI$ sen'ing during ihe year and 5irtt IILC year end ￿Tre is folknis: Trusrees." Derck Miller Mi¢hael BrtidOO Roy DuiLon Jamie Stephen¥ Slcpheft Ellis Ngllire ofg01yr￿l￿g dKNmeNI The chariry is a company ]ir￿ted by 8uaran*e iiuth the liabiliiy gf membus limited 10 £10 each. Tli¢ ¢0M￿lY 1$ gov¢rn¢d by iern) of irs memor4￿￿ll￿ atd Ani¢les ofAssotiatitsn ine¢>ry>Draled 2 2009 a$ amciithd on 13 OciobEr 2018.and 15 rt8151tTtd as a chariiv wilh iht Chariiy Commi5510rJ Pa8¢ 2 Madeley Rur*l CommuDity Cbirity Trustees, Report Tn￿1¢¢5 are appoinie41 in arcordarlce ￿"1th Ibe Articles of Associaiion of th¢ Company. OTr¢ thitd of ihe board nbeTS. being those itho are lort8eM servin8, SWI retire from offite at exh ann￿1 8¢n¢TiI iTLeeiing and we cligibk for reappoinltn¢ttL As a mattor of policy th¢ Trustee5 INJSI rtsidc in the area of bener Ei'ery Trustee up)n ele¢iion or appoint0￿nE sh￿[ receive 8 Wekome Pack *hich M'ill ithclllde 8 ¢opy of th¢ ¢omp8ny'5 Mcmorandum and Arriclcs of AS￿laTion." TDAsiee lTrdudion and CompeiuKy Frame%¥0￿.. Tnstee Codc olconduci or if an AffJli*e Membcr the AifJlia* Cod¢ of ConthJcL As part ofatj induclion ille T(ust¢e Ivill be askcd 10 complde a skills audi¢ F¢UTrLary inLetesi form and confltct of inierrsi fomL In order lo be eligible to Vole al aThy meeiing. eyery Trvsw sly a declaraiiw oFwillingnes5 10 ￿1 as a charity Ini$iec of the compèny. Finsnti*l rri"i¢M' The Chariry'$ fin¥)¢ial pJ5iiion is laid io ihe finan¢ial skntements in rAgE5 S ty 19 of this Ttport Poli¢yoN rt5erves Our medium ierrn aim is w build reserve$ 10 ai Iwt 6 wornh of ynwiriucd exp¢rtdiiw¢. Ow¥ free cash resery¢$ ivert standin8 at £7,986 (2022-É83,8681 al the balance sheei dal¢. This figur¢ includes an .Imounl of I35.0￿ lo Covtr essential long terni mainienance cosis of thE ￿lId11)g. Smau tompaoies provtsion sixtÈmeD¢ This wepon has bttn prepared in aceordaEK¢ wiih the.￿nall ¢ompnies reRime ur¥l¢r the Comp8nies A¢t ¥nnuRI rep s approi'ed by Ik tswst¢es of ihe charity on J91121u. sigrKd on it$ b¢h&lf by.- Mi¢h¥l TrusiLY ertton Pa8e 3 Madeley Rural Community Ch•rity Independent Examiner's Report to the trustees of Madeley Rural Comrnllnity Charity ('the Company,) I report to Ihe cthity tDJ51ees on my examination of the ¥¢ounts of the Compny foT the year eth 31 March 202J. Rtgponslbpllties b•sh •( report As the charily's Irusiees of th¢ Company (and also its direc￿T5 for the purpases of ¢ompany law) you are resw)n5ible for Ihc prepaNion of ihe xcounts in atwdance iyith th¢ wqu1￿MEnts of A¢1 2006 {'the 2006 Aci.). Having satisfLed myxlf ihat thc accounts of ihc Cryy are w rtquiie41 to be audii¢d Part 16 of the 2006 Act and art tligible for indeF*ndcnt examinsiion, l TerM)rt in r¢5pect of my ¢x4minati¢)Th of your ¢harily'S atcounis as cani(xl oui under stttion 145 of the Charities Ad 2011 ('Ih¢ 2011 Act.). In caThying oui my ¢X&iminaiion I ha*e folloM'¢d Ihe Dir¢¢iioEl$ 8È*¢n by Charity Commi55ion under secilon l45(51(b) of Ihe 201 J Att. Indepettdtnt ts4Nurter's st*ttrntnt I ha￿.¢ ¢otnpleied my wrDinaiion. I ¢onfimi thi1 no mal*TS have come lo my aueniion conneciithi with Ihe ex?minaiion yvin8 caux to believe.. l. accountiiig iecord5 Trrrc kem in resrrta of Madeley Rural Conynunity Charity as required by se¢(ion 386 olihe 2006 Ath.. or 2. the accounts do *¢ord those ret¢ynls; or 3. the ac¢oun15 do not wn]ply iviih thE a￿￿1[ing Tewirements of sectron 396 of the 2006 Aei other thtsn any requirement ihar the xcounls give a'inje and fair ￿tI￿. whieh a nJ*teT considered as part of an indepcndeni examinaiiot)- or 4. Ihe accoiiiits hai'e noi been pr¢paTed in atcord•net ivith lh¢ mdlKxl% and principlc5 of thr S￿1￿lient of Recommcndcd Pra¢ii¢e for accounting and reporting by tharilies lappltcable to ¢haniies P￿parin8 their accounts itl a￿ordanCe with the FinatKial Re{￿ing Stslldard applicablc in the VK and R¢publie of Ireland {FRS 102)]. I hai'¢ no ¢oncm and havc come across other mau¢rs in c4)nneciion wilh ihe eximifvattoii M which aiieiiiion should be draifft Ln ihi5 report irt order ￿ enable a ptoper UThlet5ts1￿Ith8 gfihe be r¢a¢h¢d. enso The Dud50n C¢nlrc Hope Sireet Hanley Sioke on Treni STI SDD J:zl2023 Pag¢ 4 Madeley Rural Community Charity Statement of Financial Acti￿11¢$ for Ihe Year Ended 31 March 2023 (In¢luding Ineome ahd Expenditwre Accounl and Siglemen¢ of Total Recognised Gains and Losses) Umresfrirted Restricled funds Tot*1 2023 Not¢ Tn¢om¢ and Em41ovDients frDm: Donaiions and le￿cleS Charitable aCliTritics Other ITading a¢iiviti 570 74.328 12.903 4.570 74,328 12.903 Total incorn¢ &7.801 4,0 91,801 Expenditure on: Ruising fvDds Chariiable aeiivities (I,JJiJ (190,2471 153.948 (36.299} Tolal expcndiiure (155.279) 136299) {19l,578} Nei cxpendinir¢ 67.478 132.299) 199,777 Net moi'emeni in bJnds (67.478) 132.299) {99.777) RcconelllztlQA or runds Total fiJnd5 brou¥hi (OThVJTd 9).955 1,304 116 Tothl fimds carried forward 18 24.477 1.179,862 Rtstri¢tt funds 1.204.339 Totol 2022 UwJres¢ricted futtds Ntyte Inrom¢ ind £nd•n'm¢nls from: DoJ)alions and kgaties Charitabl¢ aclivilKes h¢r irnding •¢iivities Totral incom¢ 33.984 64.087 12,374 3?.984 64,Q87 12.374 110,445 4.0(K) 114.445 Espenditure un- Raisitt8 furtds Charitable a¢iivitics (432} (103.1361 {432) 139.9741 (36.8381 Total expendiiure (103,568) {36.838 1140.406) Net inrwiid(¢xpcnditure) 6.877 (32.838 25.9611 Nd ￿¥¢￿ent in fvt 6.877 {32.818) 12S.9611 RttontllialioTr of fundi Toial funds bro￿8hr foniwd 85.078 .244.999 1.330,077 Total flu￿5 carried fonvanl 91,955 ,304,116 All vf ihr ihRTity's aciii'iLi¢s d¢wive from Operatior￿ durin8 th¢al￿￿'¢ Im'o peri￿. Th¢ nolu on paBcs 7 ￿ 19 fonn an in*gral pan of i1￿ finarKial s￿￿1)en1$. Pagc 5 Madeley Rural Community Cbarity IRegistra¢ion number: 06921078) B*lance Sheet as 2131 March 2023 2023 2022 Noit Filed assets Tangible as5els IJ 1.181.480 1,205,375 Curr¢nt w¢ts D¢bi(Ks Cash #t bjnk and in htsrbd 14 15 13232 51.542 20.858 95.800 64.774 116.658 Credltors: Amounts 18llin¥ due M'ithin one ye*r 16 41.915 17.91 Net ¢utr¢rtt asstts 22.859 98,741 Net 4S5ets 1.204.339 1.304.110 Funds of the charity: Rttlrlcted intome fund5 Re5tticied funds 1,179.862 1212,161 Unrestricted incoffle (¥ud5 Unrcslri¢icd fvnds 24.477 91.955 Totul fth*d$ 18 1.204.339 1.304.116 For Ik finan¢i31 y¢ar ettdtng 31 2023 the charity cniiikd io cx¢rnprion from audii unthr 5cciion 477 of Ihe Companies Act 2()J6 relaiing lo small ¢ompni¢5. Dirc¢tors' r¢$ponsibLlIli¢s". Th¢ McMt￿￿ havc not rcquiTcd Ihc (￿lty to obthin an audit of its a¢¢ounts for the year ith question in o¢cordan¢¢ iyith section 476" and Thc dircclors acknoivledg¢ ihthr r¢sponsibilLlies for complwn8 lviih ihc rCquircTh￿Thl5 of Ihc Act with respect to ac¢ouniin8 recoTdsatMI Ihc PTcparalion of a¢¢wnts. rin nci411 sttiemenis on pages 5 to 19 approv¢d by the iw*e¢S. artd 4uilv)rised foT iW¢ On 141121%5. and sigp¢d M ih¢iT behallby= Michael Brercl Tnsie¢ Th¢ no￿ on pa¥cs 7 10 19 forni an int¢gTrl wt of ih¢s¢ financial skntrments. P¥ge 6 Madeley Rural Community Charity Notes to the Flnanci*l Statemtnts for the Ytar Ended 31 Mareh 2023 I Chirlt) $1gtu$ Thc rhanty is limitrd by 8uaraiittt, Ittcorp)rn￿ Lrt England and Wale¥ and e4Trnscqucntly docs noi hove slia capital. laeh of the trwtees is liabk ￿ ¢Ontribul¢ an amotsnl not ¢x¢¢¢ding £10 iowaTds lh¢ a55¢1s of ihe Charity in Iht eveThl olliquidation. The address of its re8lStued office is: New Road MJd¢l¢y Crew¢ Cheshire CW3 9DN 2 A¢touNtiwg policits Summar) ofsig*lll¢aAt accouDtirt8 poli¢ie5 and kev *¢cwntin8 estimate5 The princlpal accouThtin8 polities applied in ili¢ pt¢paratioTh of th¢5¢ finartial *at¢ments aTe sei out beloiy. These pollcies have been consisienily applied to all Ihe ye￿5 prc5cnicd. wile55 Otherni5e siared. Statement ofcompliance Tho financial S1a￿￿¢nts have bccn PT¢pared in aeconlance with AceouttLiThg aT¥I Reportiwa by Charitics: Sthicmeni of Recomm¢ndcd Pracixc¢ (applicable 10 charili¢5 PtepaTing thcii aEcounts iri ¥cordanLt wilh the Finartcial Reporting Stan&rd appli¢Rble in the UK Ind Rev￿11¢ 011￿land {FRS 102)? (issucil In Ociober 2019) (Charitits SORP (FRS 102)). the Fina#cial Rcportinx Standard aA)licable in Ihe UK atyA Republic of Ireland {FRS 102) at￿ the Companits Act 2006. BR515 of PTepar4tlott Madeley Rural Community Cha(ilS' meets The definition of a public benefii eniiiy undcr FRS 102. AsseES liabiliii¢s are initially reco8nised at hi#on¢al eos1 or transaction i?lue unless othetiiise siaied in ilie televwit accouniin8 ￿lIcY llote5. Going ¢onreTn The ttU51ccs fQD$id¢i ihtre art iio maicnal uncertairti&s ak*ui ihe ch•riiy's abilily 10 cnnlinue as a 80in8 concern nor any $i￿1r1¢￿1 Jrras uf w*¢rf2inty ihai th¢ urrying 11)lue ofHsscts hcld by th¢ ¢hariry. All income is recognised once Ihe chariiy has eniiikmeml lo Ihc incoin¢. il is probable th81 thr income ii'ill be ccii.ed thr amwnl of the income receivablt can be mea$ured reliably. Dolitsiions ￿lidIc¥￿tI*$ thiialiojis ar¢ r¢cogni5cd ii'hcn Ik charity h&$ be￿ ntsiified in ￿Till￿ of at[m￿li1 and 5Ctilemeiii dak. In the el'eni thai a donalion i5 subjeu 10 conditions thai require # Icitl of wfomunce by lh¢ ¢hariiy ￿rore ih¢ ¢hariiy is Cnlitled to th¢ fvttd%. th¢ iDcome ib defeffed and noi reco8ni%ed uniil ¢kih¢r those condiiions are fvlly met. or Ilbe fuifhlnieni of those conditions is ivholly ii'iihin the tOfLtrol ofthe clwiLy and li 1$ probable ihai these ¢ondilAOlts ilill be fulfillcd in ihe reportih8 wi￿. Pa8e 7 Madeley Rural Community Charity Notes to the Fin*nci*l Slatsments for Ibe Year Ended 31 Marth 2023 Gmiits peceiwble Gf*nlS are recognised Charity h•5 ￿ M(iilerneni w the fu￿15 and any corsdiiion5 linked w Ihe grnnts beert mei. Where perforn)ance Condiiions art aitactKd io the grant atmi are yer to be mei the incomB 15 recogttised 4$ 1 liability and In¢1￿ Ihe balattce sl*et as defe￿ed 10 be Telea5ed. D¢re￿ed in¢onR Tepresents M[[￿15 received for peri(*J5 and is Ttleased ￿ Inc￿nIng resowces in period for which, it has been received. Such 1$ only def¢Thed itAm" - The doiior 5pecifJes that Ihe 8ranr or donatiott must othly Used in ftjtyjrt accounting p2riods-, or - The donor has imp¢scd condilions ivhith mug bc before thc ch4TiI} has unwndilityial entitletstertt. Choriloble &tiii'iiies ILIEome from ¢h)niabl¢ actiiities rtptseNts the provision of a¢tivities in furtherat)ce of the chari1￿$ obj¢¢¢$. Expenditure All expenditure is re¢o8ni5¢d ort¢ ihere is a legal or wEsiiuciiYe obligaiion io thai exp¢nditsirq It ts pwbablc seillemeiii 1$ required and thc 4wKJuni be measurrd ￿lIablY. All costs are all¢)caicd Io Lli¢ applirabl¢ expendilur¢ headin8 ihal #88rtgaie srmrlaf ¢051$ 10 thai cawry. Where costs cannol be div￿llY aiiribimtd k• particiilar he4diTh&5 tky have been allocateil on a basi$ ￿nSIst¢nI wilh Ihe use of resources. Ivith c¢nital staff Costs allocaicd on the basi5 of tim¢ sp¢M. and dwretilliion thw¥¢s Allo¢ard on lh¢ portiou of a55Ct'$ us¢. Other siippon cos15 are allocalcd based orl thE Spr¢￿ of staff cosis. R4isinzfMiids These are costs irturred in voI￿rbIary incon￿. th¢ managefixni of iThNtllmen15 and ihw in¢UTrtd in trading oc¢ivittes Ihat rnisc ￿nd5_ Chafiiablc ¢XFenditure ctynpfi5e$ tI￿Se t¢￿tS iftcurrd by the charily ih Ihe delivtry of its *livilies senY¢e for ils beneficiarics. li incliides boih c05ts ihai tr4n b¢ allocatd diTe¢ily io such adiiyii¢s and thosc ro$is of at) indireci nature nects54ry 10 511pport ihem. Goi'ern4n¢c co$t$ The5c includ¢ the cost5 Jltribui8bl£ to rhe charity's complignce i%itb constitutional atyj staDJiory requirements. includin8 audii. 5tral¢gic manwent a￿1 inksitts ll￿tin8s Teimbutsol expenses. yanls GoY¢rnmeThl wis are iei08niscd ba￿d on ihe accnjal r]Y)del and 8r¢ measured 01 thc fair i'alue of ihe asset rcrcii'ed or ie¢¢ii'abl¥. Granis classific41 a5 rel*iiig eith¢i 10 or io assets. GraEilS r¢I￿lI1g ￿ M'ctiuc are r￿08111sCd in ov¢T Ibc peri￿ I￿hIch Ihc rc]aied rosis ate retogni%d. Giants ielaiing 10 awls are retognisd oi.ei the expeci¢d uscfijl life rjf Ihc assci. Wh¢re pan of a 8rani felaling to an assa is d¢C¢rr¢d. il i recogn15cd 05 d¢fcrTcd I￿0￿¢. Page 8 M4deley Rural Comniunity Charity Notes to the Financial Statements for the Year Ended 31 March 2023 Taxation The cliarity is LoD$idend to Ihe *sts scl oul in Para￿¥th I Schedule 6 of the Fir1a￿t Att 2010 and thercforc it mttts the d¢finiiion of p charitbble ¢OrnPRny for UK corp)TJtlOll tsx PUTPDses. A¢rwdinOy, the harity Is poieniislly cxernpt from thx￿10n in res￿ of incomc or c¥ital gains r¢c¢ivrJ iviihin r&l¢Bofi¢5 cov¢rcd by Chapter 3 Pan I l of thc corporati￿ Tax Acl 2010 or Seciion 256 of the Ta￿10￿ of Chargeable Gains A¢1 1991 ￿ the ex*nt that $uch i1￿me or8airts are appli¢dexclusively ¢0 chari￿le purpos¢5. Tartgible fixed assets lthdividual fixed assets CQS¢ing £5LKI.(K) OT more are initjally rtt(¥ded at cosi. less an) svbsequ¢ni •¢eumulated dcpreciaiion and subscquent 3ccumul￿ed inyirnieN Iosscs. Depreciatiori •rAd *mortls#fioR D¢pr￿lation is provi4kd tan8ibl¢ fixed a¥xts y> as TQ ￿lIe off tht cost or i?luatioh, les$ any estimated t¢5idual value. o%rr Iheirexpecled u￿r￿1 ewnwnic lifc as folloiks.. A￿tI ti4s5 Frtehold buildings Furnitur¢. ¢quipmcnT athd ￿h¢T ass¢i$ Dtpre¢latioD attd rate 2% straight line 15% teducing ￿lance Tr•d¢ dcbtors Trade debtors are at)w)unts due from Cu*¢￿ for merchaT￿lSe 501d or seT¥ices perforn)ed ith the owdinary COUT5e o(bu5in¢s5. Trade dthofs re¢o8niscd initially ai Ihc tran58CIiOll PFKC. Th¢y are ￿l￿Sequen11Y mcasurd gl amonised ¢oY using the effc¢titr¢ inteTesi nieihod. Icss proYbSiO]) for impainneni. A WOVi5LOn for thE impoittneni of trade debiors is ¢S¢ablbsh¢d ivhen thcr¢ is objeciis'e ¢iid¢nce Ihai the ¢hariiy will not be *Jl¥ ￿ collcci all amounis due aecording ¢0 Ihe original ofthe [￿e1*able5. Cash and c*sh tqyiv#l¢nts Cash cash eq￿1%.a1¢￿ts tornptiS¢ ￿5h on ha￿j and ¢all dcpusits. ond (dher short-tcrn) highly liquid inve5ttii¢Dis ihat ￿a￿llY Convertible ￿ a amunt of ¢ash and are SiLbjeci to an in518nificani risk of ehange in Trgde creditors Trade credilors arc obli8ali(￿s (o p&y for goods or 5cn%cs lh* have bten acquiied in thv OTdiiiary ¢outs¢ of bi￿￿11t55 fiuffl supplieTS. Accounls pa)'*ble aTe tlassified as tuttciJI Iiabililles If th¢ chaiily do¢$ noi ha¥'e an urtconditional Yighi, ai thc. of the reporting p￿riOd. Iv dcfcr s¢iikmeni of the CfedilOT fnr #i leasi iii'cli'c monilis after Ihe tcwrting dale. If thcrc 15 aD unioDdilior￿l righi io defer SdLl¢mrnt foT ai ltasi iii'¢li"c ￿￿11th* after thc rcwting dale. they art wcsrnied a5 rtotrcurreN IMbililiCS. Trade crediiofs recogllised iniii?Ily ¥¢ the tr¥nsa¢tion pn¢¢ ¥nd subsequcntly mea$ut¢d at ¥rN)rtised using the efte¢¢ii"¢ ini¢resi n*rliod. Pagc Y Madeley Rur*l Communlty Charily Notes lo the Financtal Stsiemeots for the Year Ended 31 March 2023 Borr4wlthgs lth*resi-beatiD8 borrotrinus are ithiiially ￿t0(ded at faLr value. ￿ of trarsadioTh costs. Inietem-karing borrO￿ing5 arc sub5¢qU¢tiily catTied at amorTi5ed cv5l, Ivlth Iht ditkrtntt ba￿"ten the proc¢¢d$, net or ttansaction cosi4 and Ihc J[r￿UnI due on redcrnption ￿Ing as a ¢harg¢ to ih¢ StatheTht of FirW￿la1 Aciiviiies o¥er the pcriod of Ihc relevan¢ tKsrro1￿1n& Inrerest expejise 15 reco￿1￿d on th¢ ba515 of the eff¢ciiv¢ inteT¢Si method and is included in intEr¢sl pJyabl¢ and similar chargts. Borrothings are classified as ¢utt¢ni liabilities uthless the charity has an unconditiDrtal rishi ￿ defer senlcmcnt of the liabiliry for ai lea￿ iw¢lv¢ n￿nthS •tl¢r the Wing da*. Unrc$iri¥ied I￿9[￿¢ funds srt ¥cwal fuftds that are available for use * Ihe tnsoes discretion in of th¢ objcclii¢s of the chariiy. Designa*d fund5 arc unr¢stri¢t¢d fiu¥J5 W %5id¢ spe¢if•¢ wposes al the dis¢rtlion of Lh¢ I￿51e¢% Reslnclcd incomc ful￿$ are thos¢ dOna￿d for in ¥ parti¢iil•r area OT for sp¢¢ifi¢ w1[￿￿e& ihe use (>f ii,hich is testrLcied to thai area or puw. Ptnsions •JNI other post relireD*nt obligations Tlit charity operdte5' a ¢kfiiKd conlnbu1￿￿ pension scheme which 15 a pension plan under whTrh fixed cortiribliions art paid into a pcnsion fimd and thc charity has iw legtl or con￿￿jaI¥C obligaiioD lo pay fiirther emtribulions ¢%'¢n if the fijnd does th￿ hold ￿[r￿le￿ &sseL5 10 pay ail employees the benefits rela11￿• 10 cniploy¢e 5ervic¢ iv the curretTrl 8nd PliQT peti(xls ConiribLfrlions io defined CL¥)iribuiion plans I￿08￿1$ed in thE S&ietncni ofFinancial knEIViLie5 ivhthi ih¢y ar¢ due. If Contri￿110￿ paymthiis extccd thc conlTibJlion due for seEvKe. the exc￿ is ¥tt08nised as a prcpaymcm. FthsDtlal lttsirumenls C1055ifi¢iiii•ir Fiiian¢ial assets and fmancial liabilili¢5 reco8ni5ed ihc chan.iy tr*come5 a party to thc contrternlll provj5jOJ15 Of Ihc insinjmcni. FiDan¢iAI liabililits and quil} Ins￿m￿lS awe classified xcording b) thc 5ubstsrtt of the Contr￿ual arraijgeinciils cni¢rd inio. Att cquity iD51ruJJJ¢Dt bs any COttiTaci ilL•I e¥Èdences a tesidual Iniercsl iii ihc asscts of the ¢h&riiy after ded￿111)8 all ori15 liabiliiies. P*ge 10 Madeley Rural Comniunity Charity Notes to the Financi¥l Sia¢ement$ for the Year Ended 31 M*reh 2023 All financial B55ei$ and liabilLties are irtiiially al trawciion Pr￿ (including tr&nsaciioD costs). except ror those financial asgeis tla&sifLed as ar fair value Ihtough profjt w loss, itrhich are iniiially measur*J 31 fair vaJy¢ (ivhtch 15 nornially ihe irwis*￿l0Th price ¢xcludin8 ir4n5aclion c95ts). unle55 the atrdnB¢nJciiT tonstitutes financiiJB Iransaaiorb. If an llrrangemeThi cot)sii￿¢¢s a finarKing lrnrtsacti￿1. the financial or financial liHbiliiy is measured ai lh¢ pre5Ctil 1.aluc ol the fuluTt payDxnts discoUn￿j ai a markd raio of IJ)*Te51 for similar debi instntillajl. Finarteial assets and liabili(ies Jre onty offsct in th¢ stsremeN of ftDaTh¢Kal ￿Sir10n ￿hett. ar￿ only th the cxisls a le8ally enforecablc io s¢t off the reCogni￿J amounis aThJ the chan.ty intcrvJ5 either 10 5¢llle on a ba51$, 01 10 rtalise the assei and stiilc tht Iiabilty slnw1ta￿>U$Iy. Financi¥l a55¢ts sre dcrcctsgDis¢d iithcn and only ivhcn a) th¢ ¢onlActhal rights to Ihe ¢a$h flthvs frorti lh¢ rinancial a55ei cxpire or are 5eltl¢d. b) the ¢hority' Iransfus to another pany 5vbsranlially all of ihe risks ruvard5 of ￿￿￿rshIp of the financial Lssei. or c) the charity. despir¢ hAvin8 reuiThed some. bui noi all. SI8nif￿￿n{ iiqks and rel￿￿t{L5 of owkn¢rship. h¥ transferred ¢ontrol of the asset to anoiher parny. it￿la1 liabslilies are dercco8niwJ only wlKn th¢ obligation Sp￿lf￿d in th rontract &5 di%haT¥cd. canttlled orrxpires. J lth¢om¢ from doN(ioThs Ind Itg•¢ks Unreslricted funds Ctll*r#l Restrirted runds Total 2023 DoJMiions Icgacits; Donttttons from ¢otnpanie& tnJ#s aDd similar pmcccds Dojthiions r(om individuals 570 57Q 570 4.570 Uortstriti¢d funds GtTh¢rAI Rutri¢ttd runds Total 2022 DonJtiOnS aThl legacies" Donatiotts fmni ¢omp&nies. IT￿ts similar pr(' Parish CouKikgram rnaimeDartt cosls. Page l¥ MAdeley Rurgl Community Charity Notes to the FiDan¢i#l Stat¢meDt5 for the Y¢ar Ended 31 Marth 202J 19 Aoal)'sis of net *ssets bttM"etTr luNds Total funds at 311418ttlL 2023 Uttrtstrittsd funds General De5igDlltod Restrkfed fynd5 Tatt8ible fixed a55ets Curreiil ass¢t5 Ctsmt liabiliti¢5 16.491 14.901 41.915) 1.161.989 14.873 1.181.480 64.774 (41.915 35.OQ) TDtal net assets (10.523 33.fpxl 1.179.862 1.2(M.339 Tol*l fuAds 8¢ 31 NIArth 2022 Unre5trirted funds Ceneral Designated Restricted Tangibl¢ fixcd a￿1$ Currtiil asse15 CuErtnt liabililics 8.087 66.785 17.9171 1.197288 14173 1.205.375 16.658 17.917 35.OC(I Total *SS¢LS 56,955 35.QX) 1.304.116 20 Relattd pirtv transattlotts Thcrc ivcr¢ r¢laied party IraihY¢tions iti th¢ yw. P4Jge 19