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← Madeley Rural Community Charity

2024-03-31-accounts

Company registration number: 06921078 Charity registration number: 1130189

Madeley Rural Community Charity

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2024

Daryl Denson The Dudson Centre Hope Street Hanley Stoke on Trent ST1 5DD

Madeley Rural Community Charity

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6 to 7
Balance Sheet 8
Notes to the Financial Statements 9 to 21

Madeley Rural Community Charity

Reference and Administrative Details

Trustees Michael Brereton Roy Dutton Jamie Stephenson Stephen Ellis Cecelia Cahill Charity Registration Number 1130189 Company Registration Number 06921078 The charity is incorporated in England and Wales. Registered Office New Road Madeley Crewe Cheshire CW3 9DN Independent Examiner Daryl Denson The Dudson Centre Hope Street Hanley Stoke on Trent ST1 5DD Bankers Co-operative Bank PO Box 250 Delf House Southway Skelmersdale WN8 6WT

Page 1

Madeley Rural Community Charity

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2024.

Objectives and activities

Objects and aims

The charity's objectives are to provide the local rural communities with opportunities for learning, health and community enterprise. It intends to achieve this by operating a multi-use community centre.

In particular our objectives and achievements are:

To maintain a multi-use community centre

To secure ongoing, and predictable and sustainable income

To build and maintain sufficient reserves to provide continuity of service

To provide local people with high quality leisure and learning activities.

Public benefit

We are operating the community centre for the benefit of the inhabitants residing within a 10 mile radius of the centre.

The centre is being used in particular for meetings, lectures and classes and for other forms of recreation and leisure time occupation, in the interests of social welfare and with the object of improving the conditions of life of the inhabitants intended to benefit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

Madeley Rural Community Charity

Trustees' Report

Achievements and performance

Following the Trustees decision made in January of 2023 to end the partnership with an external third party who ran the operation of the Centre in its entirety, the Trustees took over the operational management of the Centre from 1st April 2023, including all café & bar operations.

The Trustees objectives are to make greater use of the Centre’s excellent community facilities and achieve a level of financial stability which has not been possible in the past.

As reported last year, the Trustees have taken more active roles in the day-to-day operations of the Centre and have recruited experienced staff to assist in managing all functions within the facility, this includes an experienced Chef and Financial Administrator.

It has been a steep learning curve for the Trustees and its staff to fully understand all operations within the Centre and to ensure that appropriate staffing levels and controls have been put in place.

We have also increased our marketing and social media activities to generate more interest in what the Centre can provide and to promote regular events.

Our approach to the Centre includes moving to 7 days a week opening, more evening opening, more events, the refurbishing of the Bar and Food offering (with longer opening hours), the employment of local staff wherever possible, the sourcing of provisions for the café/restaurant locally where possible. Our aim is to provide more opportunities for the Centre to be utilised by a larger proportion of the local community.

As a result of taking over the café and bar operations, the income for the Centre has increased significantly and we made an application to HMRC to become VAT registered, which it was successful in achieving, this also enabled the Centre to gain a one-off benefit from HMRC for reclaiming VAT on set up costs prior to 1st April 2023.

In addition, the Centre was able to obtain the benefit of retrospective energy refunds for the financial year. Overall, the Centre generated Income, in excess of costs amounting to £36,298 during the financial year ending 31st March 2024.

The Trustees recognise that operations for the 2024/25 year will continue to be a challenge, but are focused on improving the performance of the Centre during that period.

We also recognise the continuing support of the local community in helping us to progress the development of the Centre during the financial year and for the future.

In summary, the Trustees believe that with the infrastructure now in place, it will ensure the ongoing sustainability of the Centre.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Page 3

Madeley Rural Community Charity

Trustees' Report

Trustees: Derek Miller (resigned 1 November 2023) Michael Brereton Roy Dutton Jamie Stephenson Stephen Ellis

Cecelia Cahill (appointed 3 October 2023)

Structure, governance and management

Nature of governing document

The charity is a company limited by guarantee with the liability of members limited to £10 each. The company is governed by the term of its Memorandum and Articles of Association incorporated 2 June 2009 as amended on 13 October 2018.and is registered as a charity with the Charity Commission.

Recruitment and appointment of trustees

Trustees are appointed in accordance with the Articles of Association of the company. One third of the board members, being those who are longest serving, shall retire from office at each annual general meeting and are eligible for reappointment.

As a matter of policy the Trustees must reside in the area of benefit.

Induction and training of trustees

Every Trustee upon election or appointment shall receive a Welcome Pack which will include a copy of the company's Memorandum and Articles of Association; Trustee Induction and Competency Framework; Trustee Code of Conduct or if an Affiliate Member the Affiliate Code of Conduct. As part of an induction the Trustee will be asked to complete a skills audit, pecuniary interest form and conflict of interest form. In order to be eligible to vote at any meeting, every Trustee must sign a declaration of willingness to act as a charity trustee of the company.

Financial review

Policy on reserves

Our medium term aim is to build reserves to meet at least 6 months worth of unrestricted expenditure. Our free cash reserves were standing at £66,451 (2022:£7,989) at the balance sheet date. This figure includes an amount of £35,000 to cover essential long term maintenance costs of the building.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

M.G.Brereton

.........................................M.G.Brereton (Dec 13, 2024 17:36 GMT) Michael Brereton Trustee

Page 4

Madeley Rural Community Charity

Independent Examiner's Report to the trustees of Madeley Rural Community Charity ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

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

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACMA, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of Madeley Rural Community Charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

...................................... Daryl Denson ACMA

The Dudson Centre Hope Street Hanley Stoke on Trent ST1 5DD

Date:.............................13/12/2024

Page 5

Madeley Rural Community Charity

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
5,376
183,303
212,903
13,279
414,861
(79,769)
(259,765)
(339,534)
75,327
75,327
24,477
99,804		 Restricted
funds
£
-
-
-
-
-
-
(41,305)
(41,305)
(41,305)
(41,305)
1,179,862
1,138,557		 Total
2024
£
5,376
183,303
212,903
13,279
414,861
(79,769)
(301,070)
(380,839)
34,022
34,022
1,204,339
1,238,361

The notes on pages 9 to 21 form an integral part of these financial statements. Page 6

Madeley Rural Community Charity

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
570
74,328
12,903
87,801
(1,331)
(153,948)
(155,279)
(67,478)
(67,478)
91,955
24,477		 Restricted
funds
£
4,000
-
-
4,000
-
(36,299)
(36,299)
(32,299)
(32,299)
1,212,161
1,179,862		 Total
2023
£
4,570
74,328
12,903
91,801
(1,331)
(190,247)
(191,578)
(99,777)
(99,777)
1,304,116
1,204,339

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 9 to 21 form an integral part of these financial statements. Page 7

Madeley Rural Community Charity

(Registration number: 06921078) Balance Sheet as at 31 March 2024

Note
Fixed assets
Tangible assets
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
17
Creditors: Amounts falling due within one year
18
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
20
Unrestricted income funds
Unrestricted funds
Total funds
20		 2024
£
1,157,037
2,348
9,558
97,171
109,077
(27,753)
81,324
1,238,361
1,138,557
99,804
1,238,361		 2023
£
1,181,480
-
13,232
51,542
64,774
(41,915)
22,859
1,204,339
1,179,862
24,477
1,204,339

For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 6 to 21 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

M.G.Brereton

M.G.Brereton (Dec 13, 2024 17:36 GMT) .........................................

Michael Brereton Trustee

The notes on pages 9 to 21 form an integral part of these financial statements. Page 8

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: New Road Madeley Crewe Cheshire CW3 9DN

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Madeley Rural Community Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Page 9

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Charitable activities

Income from charitable activities represents the provision of activities in furtherance of the charity's objects.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Page 10

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Freehold buildings Furniture, equipment and other assets

Depreciation method and rate 2% straight line 15% reducing balance

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Page 11

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 12

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Grants, including capital grants;
Government grants
Donations and legacies;
Donations from individuals
Grants, including capital grants;
Government grants		 Unrestricted
funds
General
£
570
-
570		 Unrestricted
funds
General
£
948
4,428
5,376
Restricted
funds
£
-
4,000
4,000		 Total
2024
£
948
4,428
5,376
Total
2023
£
570
4,000
4,570

Page 13

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

4 Income from charitable activities

Occupant rent and service charges
Regular room bookings
Meetings
Income from Feed in Tariffs
Music Events
Other income
Occupant rent and service charges
Regular room bookings
Meetings
Income from Feed in Tariffs
Music Events
Other income
5
Income from other trading activities
Trading income;
Sales of goods and services
Trading income;
Sales of goods and services		 Unrestricted
funds
General
£
18,217
12,010
260
149,635
1,798
1,383
183,303
Unrestricted
funds
General
£
40,204
22,346
4,309
4,499
231
2,739
74,328
Unrestricted
funds
General
£
212,903
212,903
Unrestricted
funds
General
£
12,903
12,903		 Total
2024
£
18,217
12,010
260
149,635
1,798
1,383
183,303
Total
2023
£
40,204
22,346
4,309
4,499
231
2,739
74,328
Total
2024
£
212,903
212,903
Total
2023
£
12,903
12,903

Page 14

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

6 Other income

VAT Registration back claim

Unrestricted
funds
General
£
13,279		 Total
2024
£
13,279

7 Expenditure on raising funds

a) Costs of trading activities

Costs of goods sold
8
Expenditure on charitable activities
Staff Costs
Cleaning
Utilities
Communications & IT
Property Maintenance and Repairs
Grounds Maintenance
Other Costs
Accountancy Costs
Depreciation
Insurance
Independent Examination
Bank/EPOS Fees		 Note
Unrestricted
funds
General
£
191,677
4,789
34,246
4,332
8,538
5,314
7,032
1,475
(5,249)
4,527
1,025
2,059
259,765		 Unrestricted
funds
General
£
79,769
79,769
Restricted
funds
£
-
-
-
-
-
-
-
-
41,305
-
-
-
41,305		 Total
2024
£
79,769
79,769
Total
2024
£
191,677
4,789
34,246
4,332
8,538
5,314
7,032
1,475
36,056
4,527
1,025
2,059
301,070

Page 15

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

Staff Costs
Cleaning
Utilities
Communications & IT
Property Maintenance and Repairs
Grounds Maintenance
Other Costs
Depreciation
Insurance
Independent Examination
Professional Fees		 Unrestricted
funds
General
£
13,283
2,367
31,642
4,691
20,092
-
10,730
1,212
2,954
977
66,000
153,948		 Restricted
funds
£
-
-
-
-
-
4,000
-
32,299
-
-
-
36,299		 Total
2023
£
13,283
2,367
31,642
4,691
20,092
4,000
10,730
33,511
2,954
977
66,000
190,247

9 Analysis of governance and support costs

Governance costs

Independent examiner fees
Examination of the financial statements
Independent examiner fees
Examination of the financial statements		 Unrestricted
funds
General
£
1,025
1,025
Unrestricted
funds
General
£
977
977		 Total
2024
£
1,025
1,025
Total
2023
£
977
977

Page 16

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

10 Government grants

The Charity received £4,428 (2023: £4,000) from Madeley Parish Council, towards ground maintenance work. The amount of grants recognised in the financial statements was £4,428 (2023 - £4,000).

11 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

12 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Pension costs		 2024
£
185,231
4,988
190,219		 2023
£
13,283
-
13,283

No employee received emoluments of more than £60,000 during the year.

Page 17

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

13 Taxation

The charity is a registered charity and is therefore exempt from taxation.

14 Tangible fixed assets

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
15 Stock
Stocks
16 Debtors
Trade debtors
17 Cash and cash equivalents
Cash on hand
Cash at bank		 Land and
buildings
£
1,530,212
-		 Furniture and
equipment
£
129,485
11,613
141,098
95,689
6,811
102,500
38,598
33,796
2024
£
9,558
2024
£
454
96,717
97,171		 Furniture and
equipment
£
129,485
11,613
141,098
95,689
6,811
102,500
38,598
33,796
2024
£
9,558
2024
£
454
96,717
97,171		 Total
£
1,659,697
11,613
1,671,310
478,217
36,056
514,273
1,157,037
1,181,480
2024
£
2,348
1,530,212 141,098
382,528
29,245		 95,689
6,811
411,773 102,500
1,118,439 38,598
1,147,684 33,796
2024
£
9,558
2024
£
454
96,717
97,171
2023
£
13,232
2023
£
550
50,992
51,542

Page 18

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

18 Creditors: amounts falling due within one year

Trade creditors
VAT grant repayable
Accruals
Deferred income		 2024
£
12,401
8,834
6,518
-
27,753		 2023
£
39,692
-
1,918
305
41,915

19 Contingent liabilities

The charity has given a legal charge amounting to £479,625 in favour of The Big Lottery Fund which is secured on the freehold property.

20 Funds

Unrestricted funds
General
Gerenal
Designated
Maintenance Costs
Total unrestricted funds
Restricted funds
Building construction and
development
Kitchen Sinking Fund
Acoustic Fund
Computer Fund
Healthy Living Suite
Total restricted funds
Total funds		 Balance at 1
April 2023
£
(10,523)
35,000
24,477
1,159,744
9,269
2,763
3,131
4,955
1,179,862
1,204,339		 Incoming
resources
£
414,861
-
414,861
-
-
-
-
-
-
414,861		 Resources
expended
£
(339,534)
-
(339,534)
(41,305)
-
-
-
-
(41,305)
(380,839)		 Balance at 31
March 2024
£
64,804
35,000
99,804
1,118,439
9,269
2,763
3,131
4,955
1,138,557
1,238,361

Page 19

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

Unrestricted funds
General
Gerenal
Designated
Maintenance Costs
Total unrestricted funds
Restricted
Building construction and
development
Kitchen Sinking Fund
Acoustic Fund
Computer Fund
Healthy Living Suite
Madeley Parish Council
Total restricted funds
Total funds		 Balance at 1
April 2022
£
56,955
35,000
91,955
1,191,117
9,491
3,251
3,347
4,955
-
1,212,161
1,304,116		 Incoming
resources
£
87,801
-
87,801
-
-
-
-
-
4,000
4,000
91,801		 Resources
expended
£
(155,279)
-
(155,279)
(31,373)
(222)
(488)
(216)
-
(4,000)
(36,299)
(191,578)		 Balance at 31
March 2023
£
(10,523)
35,000
24,477
1,159,744
9,269
2,763
3,131
4,955
-
1,179,862
1,204,339

The specific purposes for which the funds are to be applied are as follows:

Building construction and development fund- valuation of the land and building being written off over 50 years.

Kitchen Sinking fund-grant to impove the kitchen area

Acoustic fund -grant to provde new acoutstic equipment

Computer fund-grant to provide new computer equipment

Healthy Living Suite-grant to improve the healthy living suite

Madeley Parish Council-grant towards maintenance costs.

Page 20

Madeley Rural Community Charity

Notes to the Financial Statements for the Year Ended 31 March 2024

21 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
33,353
-
59,204
35,000
(27,753)
-
64,804
35,000
Unrestricted funds
General
£
Designated
£
16,491
-
14,901
35,000
(41,915)
-
(10,523)
35,000		 Restricted
funds
£
1,123,684
14,873
-
1,138,557
Restricted
funds
£
1,164,989
14,873
-
1,179,862		 Total funds at
31 March
2024
£
1,157,037
109,077
(27,753)
1,238,361
Total funds at
31 March
2023
£
1,181,480
64,774
(41,915)
1,204,339

22 Related party transactions

There were no related party transactions in the year.

Page 21

Madeley Accounts for signing

Final Audit Report

2024-12-13

Created: 2024-12-12 By: VAST Accounts (accounts@vast.org.uk) Status: Signed Transaction ID: CBJCHBCAABAAa8UYHGd_RU806toXcbdz_9LFP9hxQ3Ee

"Madeley Accounts for signing" History

2024-12-12 - 6:40:24 PM GMT- IP address: 82.31.1.14

Document emailed to mgbrereton@yahoo.co.uk for signature

2024-12-12 - 6:41:38 PM GMT

Email viewed by mgbrereton@yahoo.co.uk

2024-12-12 - 7:06:47 PM GMT- IP address: 87.248.116.214

2024-12-13 - 5:36:03 PM GMT- IP address: 81.147.30.169

Document e-signed by M.G.Brereton (mgbrereton@yahoo.co.uk)

Signature Date: 2024-12-13 - 5:36:05 PM GMT - Time Source: server- IP address: 81.147.30.169

Document emailed to Daryl Denson (daryl.denson@vast.org.uk) for signature 2024-12-13 - 5:36:06 PM GMT

Email viewed by Daryl Denson (daryl.denson@vast.org.uk)

2024-12-13 - 5:36:39 PM GMT- IP address: 82.31.1.14

Document e-signed by Daryl Denson (daryl.denson@vast.org.uk)

Signature Date: 2024-12-13 - 5:37:42 PM GMT - Time Source: server- IP address: 82.31.1.14

Agreement completed.

2024-12-13 - 5:37:42 PM GMT