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 members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
## _**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
- Document created by VAST Accounts (accounts@vast.org.uk)
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
- Signer mgbrereton@yahoo.co.uk entered name at signing as M.G.Brereton
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