ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1159158
Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Pages 4 to 5 | Trustees' Report |
| Page 6 | Independent Examiner's Report |
| Page 7 | Statement of Financial Activities |
| Page 8 | Balance Sheet |
| Pages 9 to 16 | Notes to the Financial Statements |
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1159158 VAT REGISTRATION NUMBER 362805985 DATE OF REGISTRATION 11th November 2014 START OF FINANCIAL YEAR 1st April 2023 END OF FINANCIAL YEAR 31st March 2024 TRUSTEES AT 31ST MARCH 2024 Catherine Whittingham Nick Whittingham Anna Seabourne Michael Wilcock Hilary Fisher Helen Cheney Carol Bailey (Resigned 11th December 2023) Rosaleen Hird (Resigned 5th February 2024) LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 11th November 2014
OBJECTS
1 . To promote the benefit of the habitants of the former urban district of Mirfield and surrounding area, in particular young persons without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together with the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education, and provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants; 2 . To establish , or secure the establishment of, a community centre and to maintain and manage the same (whether alone or in co-operation with any local authority or other person or body) in furtherance of these objects.
CORRESPONDENCE ADDRESS Mirfield Community Centre Water Royd Lane Mirfield WF14 9SG PRIMARY BANKERS Lloyds Bank Plc 25 Gresham Street London EC2V 7HN INDEPENDENT EXAMINERS Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2024
Objectives and Activities
To promote the benefit of the inhabitants of Mirfield and surrounding areas, in particular young persons without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together with the inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life. To establish, or secure the establishment of a community centre and to maintain and manage it (whether alone or in co-operation with any local authority or other person or body) in furtherance of these objects.
The Charity runs the Mirfield Community Centre, a 200 year old building that was previously a school. The building was transferred to MCT in 2018 from the local authority. Rooms are hired out to local groups to facilitate a variety of activities, including - Exercise, dance, martial arts, arts and crafts, education, children's support groups, adult support, dementia support, parent and toddler support, dog training, and coffee mornings and a variety of other groups. The Centre is used by a wide range of users.
The building is also used as a polling station for local and national elections.
MCT also owns some land that is part field and woodland. This land was part of the Gilder Hall estate, which was bequeathed by Anne Robinson in 1912 to the youth of Mirfield. Under Council ownership the buildings became disused and were demolished in 2004. The land was registered to Kirklees Council in 2006 and transferred to MCT in 2008. The land is currently used by a Junior Football Club for their younger age group teams. We have had support from volunteers from local group Transformers North to curate the woodland area making it more accessible to the public and more supportive of wildlife. We plan to apply for grants so that the Charity can enlarge the woodland area, put in paths and turn a section of it into a wildlife area for the residents of Mirfield.
Achievements and Performance
The Community Centre building has been maintained during this period with essential maintenance carried out as required. We put in place a funded program of improvements which started in 2022 with replacement of the heating system and improvements to toilet facilities. Further funding was secured and we have been able to create a new commercial grade kitchen along with a social area which was completed in March 2023. We have had an energy audit carried out and are using that to raise further grant funding to improve the energy efficiency of the building. We have also made an application for funding to install solar panels to further reduce our carbon footprint.
We have welcomed back groups to the Community Centre following the Covid period and were pleased to be able to run a 'Showcase' event in April 2023 to open the Kitchen and publicise the Centre, the groups that use it, and other local charities. The kitchen was formally opened by the Mayor. We held another Xmas Fair in November 2023.
We commissioned a new logo and advertising material, posters, and flyers to publicise the Centre.
Additional Governance Issues
These are the policies and documents that all trustees read and agree to. All policies were rewritten in 2019 and are now reviewed annually. There is a specific Trustee responsible for each policy.
Code of Behaviour Policy Conflict of Interest Policy Equality and Diversity Policy and Procedure Finance Policy and Procedure GDPR Policy Health and Safety Policy and Procedure Safeguarding Policy and Procedure Volunteering Policy and Procedure Respect Policy Terms and Conditions of Hire of rooms
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31ST MARCH 2024
Financial Review
The policy of the charity is that cash reserves will cover between three and six months operating costs based on comparison with annual budget.
The Trustees will be mindful that the Community Centre building may require significant maintenance from time to time (e.g. a new roof) and may designate specific additional reserves as required. Currently £15,000 is designated as a general reserve.
The principal source of fundraising is via the hiring of rooms to local groups, charities, businesses and corporate bodies and the local authority. We are entering into a partnership with Kirklees Recovery College which will see them become based in the Community Centre and which will provide a consistent income stream which will make the charity more sustainable.
We have also been able to raise capital funding to make improvements to the building (as described above) which both make the building more attractive to potential users and reduce costs e.g. through better energy efficiency.
The Charity also receives a small amount of funds each year from the football club that hires the Gilder Hall land. This covers the cost of having the grass cut.
Trustees' Responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice GAAP).
The Law applicable to Charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations and the provisions of the Governing Document requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure of the charity for that period. In preparing those financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charity SORP;
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Make judgements and estimates that are reasonable and prudent;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue to operate.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Governing Document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
1st December 2024
Approved by the Trustees on …………………………………………………………………………………………………………………
Signed on their behalf by Trustee ………………………………………………………………………………………………………………
Printed Name: N E WHITTINGHAM
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of Mirfield Community Trust on the accounts for the year ended 31st March 2024 set out on pages 7 to 16.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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.
K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
Date: 4th December 2024
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Activities for Generating Funds 3b Other Incoming Resources 3c TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 14,118 - 14,118 65,412 31,604 - 31,604 26,057 487 - 487 292 46,209 - 46,209 91,761 60,928 - 60,928 114,293 1,960 - 1,960 800 62,888 - 62,888 115,093 (16,679) - (16,679) (23,332) 217,190 4,303 221,493 244,825 200,511 4,303 204,814 221,493 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 16 form part of these financial statements.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
BALANCE SHEET
AS AT 31ST MARCH 2024
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Note | Funds | Funds | 31-Mar-24 | 31-Mar-23 | |
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Tangible Assets | 2 | 204,000 | - | 204,000 | 217,000 |
| Investments | 6 | - | - | - | - |
| Total Fixed Assets | 204,000 | - | 204,000 | 217,000 | |
| Current Assets | |||||
| Debtors & Prepayments | 8 | 411 | - | 411 | 411 |
| Cash at Bank and in Hand | 7 | 24,415 | 4,303 | 28,718 | 43,935 |
| Total Current Assets | 24,827 | 4,303 | 29,130 | 44,346 | |
| Creditors:Amounts due within one year | 9 | 8,762 | - | 8,762 | 12,048 |
| NET CURRENT ASSETS | 16,064 | 4,303 | 20,367 | 32,298 | |
| TOTAL ASSETSless current liabilities | 220,064 | 4,303 | 224,367 | 249,298 | |
| Creditors:Long Term Liabilities | 10 | 19,553 | - | 19,553 | 27,805 |
| NET ASSETS | 200,511 | 4,303 | 204,814 | 221,493 | |
| Funds of the Charity | |||||
| General Funds | 200,511 | - | 200,511 | 217,190 | |
| Restricted Funds | 5 | - | 4,303 | 4,303 | 4,303 |
| Total Funds | 200,511 | 4,303 | 204,814 | 221,493 |
1st December 2024 Approved by the Trustees on …………………………………………………………………………………………………………………
Signed on their behalf by Trustee ……………………………………………………………………………………………………………… [ae_ Printed Name: N E WHITTINGHAM
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment 25% - Reducing Balance Basis Capital Improvements 10% - Straight Line Basis
Amortisation
No amortisation is charged to freehold Land and Buildings as the Land and Buildings is maintained to such a standard that the estimated residual value is not less than cost.
Changes in Accounting Policies and Methods of Accounting
There has been no change to the accounting policies (variation rules and methods of accounting) since last year.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
2. TANGIBLE FIXED ASSETS
| Cost 01-Apr-23 Additions Net Book Value at 31-Mar-24 Depreciation 01-Apr-23 Charge Depreciation at 31-Mar-24 Net Book Value 31-Mar-24 Net Book Value 31-Mar-23 |
Land & Gilder Hall Capital Total Building Land Improvements 2023/24 £ £ £ £ 150,000 15,000 65,000 230,000 - - - - 150,000 15,000 65,000 230,000 - - 13,000 13,000 - - 13,000 13,000 - - 26,000 26,000 150,000 15,000 39,000 204,000 150,000 15,000 52,000 217,000 |
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st March 2024 : None
31st March 2023 : None
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
3. INCOMING RESOURCES
| Note a) Donations, Grants & Legacies Gifts & Donations Grants Received b) Activities for Generating Funds Centre Hire c) Other Incoming Resources Sundry Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 118 - 118 106 14,000 - 14,000 65,306 14,118 - 14,118 65,412 31,604 - 31,604 26,057 31,604 - 31,604 26,057 487 - 487 292 487 - 487 292 |
|---|---|
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
4. RESOURCES EXPENDED
| Note a) Cost of Charitable Activities Bank & Interest Charges Depreciation Expense Fundraising Costs Insurance Costs Kitchen Project 5 Office Costs Rent & Rates Repairs & Maintenance Staff Costs 12 Sundry Expenses Utility Costs ` b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 1,040 - 1,040 - 13,000 - 13,000 6,500 18 - 18 454 3,324 - 3,324 3,723 - - - 6,380 638 - 638 632 - - - 70 17,393 - 17,393 84,416 2,700 - 2,700 2,600 - - - 159 22,815 - 22,815 9,359 60,928 - 60,928 114,293 960 - 960 800 1,000 - 1,000 - 1,960 - 1,960 800 |
|---|---|
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| Community Garden Fund Kitchen Project PREVIOUS FINANCIAL YEAR Community Garden Fund Kitchen Project |
Balance Balance 01-Apr-23 Income Expenditure Transfers 31-Mar-24 £ £ £ £ £ 4,303 - - - 4,303 - - - - - 4,303 - - - 4,303 Balance Balance 01-Apr-22 Income Expenditure Transfers 31-Mar-23 £ £ £ £ £ 4,303 - - - 4,303 6,380 - 6,380 - - 10,683 - 6,380 - 4,303 |
|---|---|
Restricted funds are wholly represented by the charity's cash reserves and are to be expended as specified above.
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial period.
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted Total Total Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ 24,415 4,303 28,718 43,935 24,415 4,303 28,718 43,935 Unrestricted Restricted Total Total Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ 411 - 411 411 411 - 411 411 |
|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiners Fees Loans Sundry Creditors |
Unrestricted Restricted Total Total Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ 960 - 960 800 5,380 - 5,380 5,380 2,422 - 2,422 5,868 8,762 - 8,762 12,048 |
|---|---|
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
| Key Fund Loan | Unrestricted Restricted Total Total Fund Fund 31-Mar-24 31-Mar-23 £ £ £ £ 19,553 - 19,553 27,805 19,553 - 19,553 27,805 |
|---|---|
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-Mar-24 31-Mar-23 £ £ £ £ 204,000 - 204,000 217,000 16,064 4,303 20,367 32,298 19,553 - 19,553 27,805 200,511 4,303 204,814 221,493 |
|---|---|
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MIRFIELD COMMUNITY TRUST
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024
12. STAFF COSTS AND NUMBERS
| TOTAL 2023/24 £ Gross Wages and Salaries 2,700 Employer's National Insurance Costs - Pension Contributions - 2,700 Employees who were engaged in each of the following activities: TOTAL 2023/24 Activities in furtherance of organisation's objects 1 |
TOTAL 2022/23 £ 2,600 - - - TOTAL 2022/23 1 |
|---|---|
The Charity operates a PAYE scheme to pay all members of employed staff. The Charity also employs self employed staff and no employees received emoluments in excess of £60,000. (2022/23:None)
13. TRUSTEES AND OTHER RELATED PARTIES
During the financial year Ms. S Fisher (Daughter of Trustee Mrs H. Fisher) received £2,700 (2022/23:£2,600) in salary related payments in her capacity as Youth Coordinator in furtherance of the Charity's objects.
The only other payments made to the Trustees consisted of reimbursements of expenses incurred in furthering the Charity's objects and no direct benefits were received by the Trustees during the financial year.
No other payments were made to the Trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a Trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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