Chaity Nurthr. 1133514 Wetherby St James Church Centre Trust Annual Report and Financial Statements For the Year Ended 31st December 2023 WETHERBY ST JAMES cHL￿CH CENfRE TRUST, MANAGING TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The ManwDg Tnlstees of the Wetherby St James Church Centre TTUSt (WSJCCT) present their Tewrt with financial statements for the year ended 31 st December 2023. Object of the charity: J) to further the religious and oth¢r chatitsbl¢ work of th¢ Church of England in the parisb of Wetherby and 2) the land identified in the schedul¢ to this must b¢ retsined by the nwing tn￿8 for ￿Se for the object of the chaTity. Afim ind Achievements: The aim is to supFh)rt the ￿mUnIty and the Parish Chwch of St James. Tb¢ Church Centre Trust has had a solid year with income from rcmjm lettings rising some £2.600. providin8 a sound pla￿orni for Conullunity use. We are indebted to the members of the Parish Office for their efficient administration of the Centre. As well as SUPPQrting WetheTby St James Churcb by a￿0mM(￿jat1Dg its meetings, lunches and coffee mornings d¢ the WSJCCT has provided a b&sc for its outreach to the local community including the Commwiity and Chrislmas Fairs. Sunday School activitie4 Love L4mch. Man With A Pan and W8nn Spaces etc. Further the Church Centre has increased the Dumber of lettings to other organisations and iDdividuals over the year (80n6). However, the high level of inflation has increased stsff and nornial o)sts by sotue IOO/o while energy costs bave risen by some 70Yo. This tnwt th¢ WSJCCT bas thggled to break even and h&8 not been able to 8ift io the paTisb churcb thi's year. Planning pemiis5ion was granted in Febrnary for putting solar panels on the roof of the Church Rooms (aod two vehicle charging points) but fundrw'sing h&$ yel to start. Once funds are forthLWiing this will greatly help mitigate the costs of elcctricity. The Trust¢¢s confirn) that they bave referred to the Charity Comnll&8ion's gUid￿ce on public benefit when reviewing the T￿￿eS aims and objectiv¢& in planning future activitie4 and in considering the expenditure made. FiDand*l review: The Trusts financial outturn for 2023 was a negative £12.813 - £656 on the General Fund and £12,157 on the Desi￿ated Funds. However, both the nwnber of hirers and rental income continues to increase £58.239 (£55,579). Also voluntary donations from organisations who use th¢ c￿tre are up on 2022 (£8901£436) as is bank interesl. However. these incom¢ illcreases have been more than covered by the illCTcase in en¢r8y costs (£18.125 1 £10,406) and labour {x)￿s. Tumin8 to the DeSi￿ated Funds £7.890 has iwi 4)¢Di on the car p•* and £3606 on in*alling LED li￿ting as part of the Zero Carbon &8pirations. In the circumstanL%S it has not been possible to top up the Designated Funds in a¢cordance with the TnLStees Reserve Policy from iDcom¢ or mak¢ a contribution to Wetherby St James, coas. WETHERBY ST JAMES CHURCH CENTRE TRbST. MANAGING TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) I￿king forward to 2024 the room hire rates will be increased and the energy contracts have beeD re- negoliated. Further while it is hoped that outside fimding can be fowid for much of the net zero carbon work the Tn￿ is likely to incur Costs in this area also. Of the £8,500 allocated for Zero Carbon costs £991 remains unspent. It is lik¢ly ther¢fore. thai duriDg 2024 the Tn￿ will again incur a financial defi¢iL but it currently has resffves of SLYne £80.167 (£92.980). Reserves policy: l. The RequiremeDt for RegerveA: The wsJccr needs rcscrves to cover. (i) Maintenance of the fabric. fittings, fixtures and decorations of the Trust's buildin￿ that would fall outside those recurrAng or routine mattcr5 that would be funded from th¢ annual m8inl¢llance budget. (li) Foreseeable short and medium tenn capitsl projects. (iii) Major 'oTrtroff items of maintenaDc¢ or renewal wkn'ch ¢an reasonably be expected in the longer term and wlu'ch are of a significant ￿st and scale, gjcb that they require long term financial plaDning. (iv) The risk of a setback in th¢ inwme of the Trua such that it maintain essential operations for a period of time, particularly staff remun¢ration. 2. Reserye Levels: Specfifie Considerailons In consAden'n8 the level of reserves the Maoagin8 Trustees have considered.. (i) Capital projccts in progress (li) Reasonably foreseeable ca￿tal projeds at the time of drafting this policy (iii)The ￿SSIbility of r¢newals and alterations to ten2nted prowty on conclusion of the curreDt lease (iv)The possibility of loss or reduction of in¢ome from tenanted propoty on conclusion of the current (v) The day to aay operating costs for a 3 month PeTiod (vi) The expenth'ture recommen￿1 in the most recent survey of thc Church Rooms and Church Ccntre undertaken by the appointed building swveyor (vii) The projected annual SuTpl￿defiCit for the next 10 years 3. Reserve Levels: Implen￿￿tatiOll The following designated resc￿S th¢r¢for¢ held.. (l) Old Sehool IGtcheD Fund (OSK) A sum of £25.(KIO was initially set aside in 2012 to fund all the following risks: (a) a period of vacancy at the conclusion of the current lease (b) a rent frec period on sewinB a new tenant Costs InCu￿¢d during the Faiod when this wopety untfflan*d and allocated ￿sts since has reduced this reserve to £8.998. WETHERBY ST JAMES CHURCH cE￿E TRUST, MANAGtNG TRUSTEES REPORT FOR THE YEAR ENDED 31 DECE.MBER 2023 (continued) (li) Long Tern Major Maintenance and Rellewals This sioking fund was established to provide for long tm. but high cost fabric ￿ related renewals (for example roof T¢newal. heating system and resurfacing of car parks and roadways.). AD amount of £5,000 per annum to bc provided from any annual oper*ing SI￿pIUS of the Trnst, after Char￿n8 all other operating costs, to build this sinking fi￿d. Given the income and expenditure result for 2023 the traDsf¢r has noe been made to this fund. which rently stands at £4.835. {ill) Fabrit Fund A fund to promde for non-recurring items from the m8inletWILY. renewal and repair recommendations of the last buildiDg Survey. It excludes major projects whieb will be deali with through a Capital Projects Fund. It excludes charges under ff¢wring annual contracts and routine maintenanc¢ rnattws which are to be dealt with through th¢ repairs budget ID the General Fuod. An initial fund of £25,000 was established with rcpl¢nIshtD￿t plaoned at £5Crf)O per annum from any annual operats'ng surplus of the TTUSI 8fter charging all other 4)p¢rating wst$. However, given the financial outturn for 2023 and uncertainties for 2024 the transfer has not been made to this fund, which urr¢ntly slands at £10.887. (iv) IA)g8 of Income Reserve This reserve w&8 establighed as cover for 3 months of operating costs. excluding annual charges to replenish th¢ Fabric and ￿ng Te￿ Major Maintenance and Renewals bund which equates to approximately £20,000. (v) Net Z£ro Carbon Fund Established to promde fundiD8 for the work required to achieve the net zero carbon aspirations of the trustees for the Trust. The fund wa5 Sct up with £8.500 from th¢ Geoeral Fund and during 2023 £4266 was spent leaving a balance of £991 remaining. For full details of fund balattces and movwn¢nls th¢r¢in, please refer to Doles 13.1. Administritive infornmtion: The WSJCCT is a clwity e&ablished on 16th January 2009 in ￿(￿dance with the then Charities Act 1993. Charity registration numt*r 1133514. Registered adth¢ss and principal office St James Churcb Centre Wetherby, West Yorkshire LS22 6tp. WETHERBY ST JAMES CHURCH CENfRE TRUST, MANAGING TRUSTEES REPORT OR THE YEAR ENDED 31 DECEMBER 2023 (continlled) Stru¢thr4 govern*nce and nmnagemenl: Custodian Trnstee :_ The West Yorkshire & Dales Diocesan Board of Finance The Managing Trustees of th¢ WSJCCT are appointed by the Elextorat Roll m¢mbers of the ecclesiastical parish of Wetherby or secollded by th¢ WSJCCT. Th¢ powers of th¢ managing trustees are: i) To cooperate and exchange information and advice with other charities ii) To rdise funds excluding any pernianent taxable tradiDg iii) To insur¢ against public liability iv) To make rules and regulations ¢onsisl¢nl with the scheme for the management of the cjwlty v) To appoint #aff (who rnust not be trnstees) and pay re&8othle remuDeralioo. Managing trnstees: Members who st￿d0￿ the WetAerty Llnlon PanKhlal Church Councu durthg theyear were.. The Revd Canon Brendan Giblin The Rcvd Canoll Matthew Peat Emma Beddoe Hilary Bailey David Bewell Julie Coultas Alan Grimes Elaine Hainswortb Robert Haskins Jean Heaton Richard Hughes Lorna Johnson Stephanie Kemp Vd Lwnsden Gina Mele￿f¢ David Startup Jackie Taylor ie Taylor Steve Taylor Sue Taylor Hugh Turner ChaiTtwson - Resigned 05 Marcb 2023 chairper9￿) - App)inted 30 November 2023 Vi¢¢ Chairp¢rson Apwinted 27 AprAI 2023 AptKiinted 26 September 2023 R¢si8Ded 09 septemb￿ 2023 Secretary Retired 27 April 2023 Retired 27 April 2023 Appointed 27 April 2023 Appointed 27 April 2023 Geoff Williams David York Appointed 27 April 2023 c￿opted membeTS: MaTilyn Smith Robert Greene Retired 27 Apnl 2023 John Cuthbertson MA.FCA acted as Endwdent Examiner of the accoun Nat West. Wetherby is the main banker to the Trust. WETHERBY ST JAMES CHiThiCH CENfRE TRUST, MANAGING TRusfEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 (continued) Use of ittcome- lllcome is applied first to pay the costs of adtniillsteriog the CTr￿1ty and matia8in8 its property. Remaining income is applied to furtbering the objectives of the clwity. Small charities special provisions: i) The report of the Managing Truths of the WJSCCT has L*en prepared in aceord8nc¢ with The Charities Ac¢ 2011 and applicable to Charities (Ac¢ounts and R¢poTts) Re8ulations. li) The Managing Trustees of the wjsccr consider that an audit is not required for this year under section 144(2) of th¢ Charities Act 2011 (the 2011 Act) and that an independent examination is Ill) The Managing Trustees of the WsJc￿ acknowledge their reswnsibilities for compl)ing with the requirements of section 130 of the Charities Act 2011 in reswt lo a¢￿ting records and the preparation of accounts. This report was approved by the Man8￿n8 T￿￿eeS OD 06 February 2024 and si￿￿ on their behalf by. The Revd CaDOn M Peat- ￿airpe H D Turner. Chairpffson of Finance Committee WETHERBY STJAMES CHURCH CEwfRE TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 Annual accounts for the period l January 2023 to 31 December 2023 Section . (itrfqtement of. fin49ncial actii ities D¥¢riptioD by Wxtural Uttrr•trtd4d Ilu•Rnated Total thi* Totsl i* rDn fiwd• Ineome and r¢eeipts of 58.238.69 s￿).00 58.238.69 890.00 55.579.36 436.32 Donatson4 grants And l* Inv¢ytsnenis Other 1582.46 1582.46 179.52 692.82 179.52 61.711.15 17932 61190￿? ?o&so 22.419.(k• 26.576.69 13.371.11 22.419.CkS 38.073.88 14.210.63 14,317.42 26.875 22 15.459.57 6,Cl)O.00 11.497.19 179 $2 12.157.19 179J2 7470157 6WUi Net In¢om&(e¥ondltsr•) Transfer ￿ween fill￿. In Transfer lxtw￿n fijnds. Out Otkr wO(losau) Gai091(losses) on revah4tion of fAI assets (65S7&) (1I157.19} 112.812.901 ($943.71) Other sa￿￿(10&8¢$) {6￿71> 111157.19) (11812.9(1 (5943.71 ReComeai•tlo￿ of fuDds: Totat fimds brought foTward Total c#nitd fornanl 35,10995 3UX24 S7.￿0.13 45,71194 92,98008 80.167.18 98.¥23.79 2980.08 13 The notes on pages 10 to 19 forn] part of this account. WETHERBY sfJAMES CHURCH CENTRE TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 Sectioi) B Balance sheet Totsl this year Totsl last ye*r Fixed Assets: Tan￿b]e assets Current assets: st￿ks Debtors Cash at bank and on hand 5,587.42 80.471.22 86,05&64 4,645.60 94,838.35 99,483.95 li Tothl¢¥rrtnt 4xsets Liabilities: Creditors.. amounts fallin8 due within one year io 5,891.46 6.503.87 ewrenl afsets or IlobUItI 80,167.18 92,980.08 Tolal less a¢rren¢ Ilabillth 12 80,167.18 92,980.08 Creditors.. amouuts r￿lIng due after more than one year Provisions for liabilities and charges Total +Z&Tets or Iléthllldes 12 The fundg of the charity: Unrestrlcted funds- Nonthsignated Unrestrided funds- D¢si8natcd Restricted fuDds 80,167.18 92,980.08 13 13 34,454.24 45.712.94 15,109.95 57.870.1.3 Tolal unrestrleledfAndf 13 80,167.18 92,980.08 Restricted funds Endowment funds 80.167.18 92,980.08 Approved by the Trustees oo 06 February 2024 The R¢vd Canon M Peat. chairp￿ of Tn H D Turner. ChaiTperson of Finance Committee WETHERBY ST JAMES CHURCH CENfRE TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 L'ctioii C C'rfqsh Ilow st49temciits Table C.1 Ststement of cash floivs Prioryear fun Total fi￿d9 Note Cash flows from operating activities: Net cash provided by (used ID) operailDg activities (16949.59) (9,534.01) able C.2) Cash flows from Inv￿lMent actfvities: Dividends. interest and rents from investments 2.582.46 692.82 Note 3 Purchase of property. plant and equipment Note 8 Net tash provided by (used in) investment activities 2J82.46 692.82 Casb Ilows from fiDaDciog activiile8: Change In c8gh and c4sh equfv*leDts ID the rep)rtiDg period (14J67.13) (8841.19) Cash and casb equivaleDts at the beginnlng of the rep)rting period 94.838.35 103.679.54 (Table C.3) Cash and cash equival¢Dts 4t the end of the reporting period 80,471.22 9I838J5 (Table C.3) WETHERBY STJAMES CIIURCH CEThE TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 ,Si'ctioii C Cash floiv statemeiits (coiit) Reconciliation of net incomel(expenditsre) to net cash flow to net cth flow from Table C.2 operating aetivities Prior year fimds Totsl funds Iyote Net incomel(expenditure) for the rep)rting period (as per the statement of f￿ancIal activiti¢g) (12.812.90) (5.943.71) SOFA Adjugtments for Depreciation charge 360.00 Note 8.2 Dividends, interest and rents from investments (2,582.46) (692.82) Note 3 (Increaseydecrease ID debtors (941.82) (498.16) Note 9 Increasel(decrease) ID creditors (612.41) (2,759.32) Note 10 Net eash provlded by (uged io) oper*tiDg activfitles {16949J9) (9J3&01) Tible C.3 Anatysts of cash and cash equlvllents Pdoryear funds Totsl funds Note C&8h in hand 80.471.22 94,838.35 Notell Total cash cash equivalents 80.471.22 94,&18.35 WETHERBY ST JAMES CHURCH CEhTRE TRU FOR THE YEAR ENDED 31 DECEMBER 2023 io- Section D 'otes tn tlie accnuiits Note l. Basls of prepgratiou B*sls of accounting The accounts bave been prepared in acLuJrdanLK with: a. the Ststement of RecLxnrneDded Practicz.. A￿)￿lting and Reporting by Charities preparing their accounts in accordance with the Financial Rep)rtiDg Standard applicabje in th¢ UK and Republic of Ireland (FRS 102) issu¢d OD 16 July 2014 b. the Financial Reporting Standard applicable in the United Kingdom atml Republic of Ireland (FRS 102) and with the Charities Act 2011. Ther¢ bas been no change to accounting policies (valuation n￿e5 and methods of ac(x)unting). Changes to prevlous accounts No ¢h&oges have t*en made to a￿)Unts for previous years. Note 2. Accounting polldes: INCOME AND ENDOWMENTS: Re¢ogDitloo of intoming resources Tb¢s¢ ar¢ ID¢lUd￿ in the S¢at¢m¢nt of Financi￿ Activities (SOFA) when: the elwity beLThlCS ¢lltill￿ to the resources: th¢ In￿¢¢8 are ￿rti￿lIy certain thry ￿11 receive the resources: the monetary value Can be measured with sufficient reliability. Where incoming resources have related expenditure (as with fundrnising or Lxmtrnct income) the incomin8 r¢50urc¢s and r¢lated eXpendI￿re are repK)rted gross in the SOFA. Grants and d￿lOnS are only included in the SOFA when the charity has UDwnditionai entitlement to the resources. T￿ re¢laiU￿ on don#tion¥ Incoming resources from tax r￿laimS ar¢ included in the SOFA at the same time as the to which they relate. Contraciual income and This is only intluded in the SOFA once the related 8oods or services perfornianee related grnDts have been deliverciL Investment income This is included io the xcounts when receivable. IDveJtment gains and lo&qe8 This includes any gain or Ioss ¢)n the sale of investments and any gain or loss reAdting from revaluing investments to market value al the end of the year. Incoming resourctt with related expenditure Grants and donationj WETHERBY ST JAMES CHURCH CE￿￿RE TRUST FOR THE YEAR EM)ED 31 DECEMBER 2023 ec'tiiiii l) Nntes tn the mt rtteipts fjf endowment* Trfidi￿ ¥tTViti Donation8 grants and 55.579.36 436.32 55,579.36 436.32 692.82 69282 7￿50 56,70&50 Utdrti 14,317.42 24,TJ4.23 12217.37 C￿.(#) 14,317.42 26.873.22 15.459.57 6,(MXS. 1140.99 3242.20 Adrnmi'straiion 369. SXl.J9 6165121 N•t ID(omtl(¢xpdltMY•) TraI￿r fimds. In TrATh4f¢r b￿ween fimd%. Out Othor T￿$tits￿l ￿￿10S￿} Gauul{lossts) on T￿l￿tiots of r￿ed a8sets (5)￿.19) IIN3.711 {8.5￿.￿) 8.5￿.IN) Othtt gain￿(10￿9C￿) (9W6U2) 116Ji (Sp￿.71) Total ful￿ trougbt forwwd Total fundg eanied foTw•rd 13 44,170.47 W09SS 54.753 32 70. 98.923.79 The notes on pages 10 to 19 forn] part of this ￿CoUnt. WETHERBY ST JAMES CHURCH CENTRE TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 -21 INDEPENDENT EXAMINER'S REPORT TO THE MANAGINGTRusfEES OF WETHERBY ST JAMES CHURCH CEIYTRE TRUST I replirt on the accounts for the year ¢nded 31st tkcembu 2023 wbicb are set out on pages 6 to 19. Respective respoLqibilities of the Trnstees and Indepemdent Examiner The charitys tTUSte¢s consider that an audit is not requTred for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent eLqmination is DKd¢d. It is my responsibility to exanline the ￿cOunts under section 145 of the 2011 Act. Q follow the procedur¢s laid down in the General Directions ￿Ven by the Charity Commissioners sectiou 145(5)(b) of the 2011 Act: and stste wbether particular matters have com¢ to my attention. Basfis of lftde￿d￿t Euminer's Statement My extimination was carried out in ¥Aordan¢e with the Gener81 Directions given by the Charity Commi8SiO0. An examination includes a review of the accounting records kept by the clwity and a comparison of the accounts presented with those records. It ￿80 includes consideration of any unusual il¢ms or disclosures in the aCCOUDts. and seeking explanations from the management committe¢ ¢¢)Dcerning any such matters. The procedures widertakeD do not wovid¢ all the evidence that would bc r¢quired in a full auth'L and tonsequcntly I do not express an audit OPAnion on the a¢￿U￿t8. Independent Examiner's Statement Jn conn¢¢tion with my examination. no matters have come to my atteJ)tion which give me r¢asonable cause to believe that in any material respect the requirements to ke¢p accounting records in accordance with s.130 of the 201 l Act. or to prepare accounts which accord with these accounting reconts have not been met: or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Johll Cuthbert 7 Linton Av¢n ¢)n MA. FCA e, Wethe LÈ