## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31ST AUGUST 2023**
## **MOOR LANE CHURCH PRE-SCHOOL**
**CHARITABLE INCORPORATED ORGANISATION CHARITY REGISTRATION NUMBER 1161677**
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
**MOOR LANE CHURCH PRE-SCHOOL**
## **CHARITABLE INCORPORATED ORGANISATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023**
||**Page**|
|---|---|
|**Legal and Administrative Information**|3|
|**Trustees' Report**|4 to 6|
|**Independent Examiner's Report on the Accounts**|7|
|**Statement of Financial Activities**|8|
|**Balance Sheet**|9|
|**Notes to the Accounts**|10 to 16|
## **MOOR LANE CHURCH PRE-SCHOOL**
## **CHARITABLE INCORPORATED ORGANISATION LEGAL AND ADMINISTRATIVE INFORMATION**
## **CHARITY NUMBER**
1161677
**START OF FINANCIAL YEAR END OF FINANCIAL YEAR**
1st September 2022 31st August 2023
**TRUSTEES AT 31 AUGUST 2023**
Heather Douglas (Chair) Joy Hoggart (Treasurer) Nicola Cast Christine Jee Claire Playell Russell Holmes
The existing trustees appoint any new trustees following the provisions laid out in the CIO's governing instrument.
## **LEGAL STATUS**
CHARITABLE INCORPORATED ORGANISATION
## **GOVERNING INSTRUMENT**
CIO - Foundation Registered 15 May 2015
## **REGISTRATION DATE**
15th May 2015 : CIO registration
## **OBJECTS**
The objects of the CIO is the advancement of education and the development of children below compulsory school age by following the early years foundation stage framework through the provision of a broad and balanced programme of activities in a high quality, stimulating environment to enable the children to learn through their play and to fulfil their potential.
**CORRESPONDENCE ADDRESS** 226 Moor Lane Upminster Essex RM14 1HN **PRIMARY BANKERS** Lloyds Bank Market Place Romford RM1 3AA **INDEPENDENT EXAMINER** Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
3
## **MOOR LANE CHURCH PRE-SCHOOL**
## **CHARITABLE INCORPORATED ORGANISATION TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2023**
The Trustees present their report and accounts for the year ended 31 August 2023.
The accounts have been prepared in accordance with general directions given by the Charity Commission and comply with the charity’s Constitution, applicable law and the requirements of FRS 102 effective 1 January 2015 and the Charities SORP (FRS 102).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity is governed according to its Constitution and is a Charitable Incorporated Organisation having been entered on the register of Charities on 15[th] May 2015.
The following Trustees, who are also the directors for the purpose of company law, have served throughout the accounting period, except where indicated:
Heather Douglas (Chair) Joy Hoggart (Treasurer)
Nicola Cast
Christine Jee Claire Playell Russell Holmes
Moor Lane Church Preschool is committed to enabling and supporting its Trustees to fulfil the 12 essential board responsibilities as identified by National Council for Voluntary Organisations (NCVO):
- Set and maintain the organisation's mission, vision and values
- Engage in strategic planning
- Establish and monitor policies
- Ensure compliance with the Governing Document
- Ensure adequate financial resources
- Provide effective fiscal oversight & ensure sound risk management
- Promote the organisation and enhance its public image
- Carefully select & induct new board members
- Maintain effective Board Performance
- Select and support the Manager & review her performance
- Act as a responsible employer
- Understand & respect the relationship between board & staff
Trustees will attend training courses as part of their commitment and responsibility to their role.
## **Organisational structure**
The general governance of the charity is the responsibility of the Trustees, however the day to day operation is delegated to Anita Brett, the Manager. Anita takes any matters of variation to Trustees' meetings for decision making.
## **Risk management**
Control procedures are in place to cover all areas of risk, i.e. Strategic, Operational, Financial, Regulatory, Human Resource and Reputational. The comprehensive Risk Management Register is continuously reviewed and updated to support Trustees in the monitoring process of these areas.
## **OBJECTS**
The objects of the CIO is the advancement of education and the development of children below compulsory school age by following the Early Years Foundation Stage framework through the provision of a broad and balanced programme of activities in a high quality, stimulating environment to enable the children to learn through their play and to fulfil their potential.
4
## **MOOR LANE CHURCH PRE-SCHOOL**
## **CHARITABLE INCORPORATED ORGANISATION**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31ST AUGUST 2023**
## **ACHIEVEMENTS AND PERFORMANCE**
During the year ended 31[st] August 2023, the Pre-School has provided 7 sessions per week for 38 weeks of the year.
The Pre-School has fully utilised the building and resources available to them so that the children have access to both indoor and outdoor activities all year round.
The Pre-School’s website is up and running and is beneficial as an additional media and publicity tool. The website details the services offered, illustrates the setting and offers information for parents/carers.
The number of children and subsequently the income received by the Pre-School has remained slightly lower than pre-pandemic years due to changing domestic situations as a result of the COVID-19 pandemic. The PreSchool is actively advertising in order to increase numbers.
## **Financial Review**
Total incoming resources for the period were £40,833 (2022: £49,765) which was entirely unrestricted income.
Total resources expended were £50,234 (2022: £55,920) which was entirely unrestricted expenditure.
A full review of the financial position of the CIO can be found on the attached financial statements.
The CIO’s reserves policy is to aim to hold sufficient reserves to cover the equivalent of three months' salary costs of its employees in case of an unexpected drop in income. The CIO is working towards an increase in income and reserves.
## **Plans for the Future**
Since the year end, the numbers of children attending the Pre-School has increased, and consequently the level of income has also increased. Trustees will continue to concentrate on ensuring that the number of children attending the Pre-School is maintained. This will help to secure the finances of the Pre-School.
The Trustees will be working closely with Pre-School staff to organise and run fundraising events as a key part of raising income.
## **Public benefit**
Trustees have paid due regard to the Charity Commission Guidance on 'Public Benefit' in deciding what activities the charity undertakes. All activities undertaken by Moor Lane Preschool are focussed on our charitable purposes.
## **Disclosure of information to auditors**
Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
5
MOOR LANE CHURCH PRE-SCHOOL
CHARITABLE INCORPORATED ORGANISATION
TRUSTEES, REPORT (continued)
FOR THE YEAR ENDED 31ST AUGUST 2023
Responslbllties of Trustees
Charity 13w requlre5 the Board of Truste to prepare flnancial statements for each flnancial year whlch glve a
true and farr vlew of the stale of affairs of the charity and of Its Incomlng resources and resources expended for
the perSod. In preparlng those financlal statements, the Board of Trustees should follow best practlce and are
fequlred to.
select sultable accountlng pollcies and apply them conslstently
make judgments and estlmates that are reasonable and prudent
comply with applicable accounUng standards subject to any material departures dlsclosed and
In the flnancial statements
prepare the financièl statements on the going conrn basis unless It is Inapproprlate to presume that
charlty will contSnue In operatlon
The Board of Trustees is responsible for malntalnlng proper atcountlng records whlch Olsclose with rea50nèble
accuracy at any time the finariclal posltlon vl the charlty and to enable them to ensure that the flnanclal
Statements comply wlth the Charltles Act 1993. They are also re5pon51ble fDr safeguardln9 the assets of the
charlty and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularlties
and to provlde reasonable assurance that'.-
the charlty Is operating efficlently and effectlvely
als a5set5 are safeguarded agalnst unauthorlsed use or dlsPOSlttron and are properly applled
proper records are malntalned and financlal Information used wlthln the charlty or for publlcatlon Is
rellable
the charlty complie5 wlth relevant laws and regulatlons
The systems of Internal Control are designed to provlde reasonable but not absolute assurance against rnaterlal
mlsstatement or loss.
Approved by the Trustees on..
Slgned on their behalf by TNstee
Printed Name
## **MOOR LANE CHURCH PRE-SCHOOL**
## **CHARITABLE INCORPORATED ORGANISATION**
## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023**
Report to the trustees/ members of Moor Lane Church Pre-School on the accounts for the year ended 31st August 2023.
## **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:
- examine the accounts under section 145 of the Charities Act,
- 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
- 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
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Zita Derbak MAAT AATQB Independent Examiners Ltd Unit 2 The Broadridge Business Centre Sign: Delling Lane Bosham PO18 8NF Date:16.05.2024
7
## **MOOR LANE CHURCH PRE-SCHOOL**
## **CHARITABLE INCORPORATED ORGANISATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2023**
|**Notes**
**INCOMING RESOURCES**
Donations & Legacies
**3a**
Investment Income
**3b**
Charitable Activities
**3c**
Other Income
**3d**
**TOTAL INCOMING RESOURCES**
**PAYMENTS**
Costs of Charitable Activities
**4**
**NET INCOMING/(OUTGOING) RESOURCES**
Balances Brought Forward
**BALANCES CARRIED FORWARD**
**RESOURCES EXPENDED**
**TRANSFERS BETWEEN FUNDS**
**NET MOVEMENT IN FUNDS**|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2022/23**
**2021/22**
£
£
**£**
**£**
4,679
-
4,679
130
1
-
1
1
35,964
-
35,964
49,423
189
-
189
211
**40,833**
**-**
**40,833**
**49,765**
50,415
-
50,415
55,920
**50,415**
**-**
**50,415**
**55,920**
**(9,582)**
**-**
**(9,582)**
**(6,155)**
-
-
-
-
**(9,582)**
**-**
**(9,582)**
**(6,155)**
9,695
-
9,695
15,850
**113**
**-**
**113**
**9,695**|
|---|---|
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements found on pages:-
10 to 16
8
MOOR LANE CHURCH PRE-SCHOOL
CHARITABLE INCORPORATED ORGANISATION
BALANCE SHEET
AS AT 31 AUGUST 2023
Unrestricted RestrScted
Fund
Fund
Total
Total
31-Aug-23 31-Aug-22
Assets
Tanglble Assets
Investment Assets
Note5
1,674
1,674
2,511
Current Assets
Debtors & Prepayments
Cash at bank and In hand
51
8,142
810
BIO
Total Current Assets
810
810
Creditor5: amounts falling due
wlthln one year
NET CURRENT
2,371
2,371
1,009
(1,561)
(1,561)
7,184
TOTAL ASSEfs less current Ilabilities
113
113
9,695
Creditors: amounts falllng due In
one year
io
NET A55Ers
113
113
695
FUNDS OFTHE CHARITY
Genera1 Funds
Restrltted funds
It3
113
9,695
TOTAL FUPIDS
113
li
Approved by the Trustees on ......-..
Slgned on thelr behalf by Trustee
Prlnted Name:
H. ooU4LA
## **MOOR LANE CHURCH PRE-SCHOOL CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 2023**
## **1. ACCOUNTING POLICIES**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
## **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 notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The CIO 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 CIO's ability to continue as a going concern.
## **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 resources 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 CIO 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 CIO. Gifts in kind for use by the CIO are included in the SOFA as income receivable.
## **Volunteer Help**
The value of any voluntary help received is not included in the accounts and is described in the Report of the Trustees.
## **Donated Services and Facilities**
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the CIO is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the CIO of the service or facility received.
## **Investment Income**
This is included in the accounts when receivable.
10
## **MOOR LANE CHURCH PRE-SCHOOL CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023**
## **1. ACCOUNTING POLICIES (continued)**
## **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.
## **Expenditure and Liabilities**
## **Liability Recognition**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the CIO 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 CIO 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 CIO.
## **Support Costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.
## **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.
## **Pensions**
Pension contributions are charged to the Statement of Financial Activities as they become payable.
## **Fund Accounting**
Funds held by the charity are either:
## **1. Unrestricted funds**
These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
## **2. Restricted funds**
These are funds that can only be used for particular restricted purposes within the objects of the CIO.
## **3. Designated funds**
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **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 and fittings 10% straight line method
There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.
This page does not form part of the statutory financial statements 11
## **MOOR LANE CHURCH PRE-SCHOOL CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023**
## **2. TANGIBLE FIXED ASSETS**
|Additions
**Accumulated Depreciation**
At 1 September 2022
Charge for the Year
At 31 August 2023
**Net Book Value**
At 31 August 2023
At 1 September 2022
**Cost**
At 1 September 2022
At 31 August 2023|Fixtures and
fittings
Equipment
Other Fixed
Asset
Property
(Restricted)
**Total**
**2022/23**
£
£
£
£
£
8,370
-
-
-
8,370
-
-
-
-
-
8,370
-
-
-
8,370
5,859
-
-
-
5,859
837
-
-
-
837
6,696
-
-
-
6,696
**1,674**
**-**
**-**
**-**
**1,674**
2,511
-
-
-
2,511|
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st August 2023 : None 31st August 2022 : None
`
This page does not form part of the statutory financial statements
12
## **MOOR LANE CHURCH PRE-SCHOOL CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023**
## **3. INCOMING RESOURCES**
|Note
**c) Incoming from Charitable Activities**
**d) Activities for Generating Funds**
Parent Fees
Early Year Eligibility Funding
Fund Raising
**b) Investment Income**
Interest Received
**a) Donations & Legacies**
Gifts, Offerings & Donations|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2022/23**
**2021/22**
£
£
**£**
**£**
4,679
-
4,679
130
**4,679**
**-**
**4,679**
**130**
1
-
1
1
**1**
**-**
**1**
**1**
7,257
-
7,257
8,199
28,707
-
28,707
41,224
**35,964**
**-**
**35,964**
**49,423**
189
-
189
211
**189**
**-**
**189**
**211**|
|---|---|
This page does not form part of the statutory financial statements
13
## **MOOR LANE CHURCH PRE-SCHOOL CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023**
## **4. RESOURCES EXPENDED**
|Note
**Governance costs:-**
Independent Examiner Fee
Legal & Professional fees
**Staff Costs:-**
Wages & Salaries
Employer's National Insurance Costs
Pension Contributions
**Direct costs:-**
Depreciation expense
Utility Cost
Equipment
Hall hire
Insurance Costs
Internet costs
Licenses & Subscriptions
Staff Training
Sundry Expenses
**Charitable Activities**
Administration costs
Craft Consumables|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**2022/23**
**2021/22**
£
£
**£**
**£**
243
-
243
344
116
-
116
282
-
-
-
189
1,870
-
1,870
1,870
585
-
585
534
240
-
240
240
387
-
387
569
224
-
224
132
2
-
2
210
2,397
-
2,397
479
41,796
-
41,796
48,604
-
-
-
-
355
-
355
417
837
-
837
837
720
-
720
720
644
-
644
492
**50,415**
**-**
**50,415**
**55,920**|
|---|---|
This page does not form part of the statutory financial statements
**14**
## **MOOR LANE CHURCH PRE-SCHOOL CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023**
## **5. RESTRICTED FUNDS**
The Charity held no Restricted Funds during this or the previous financial period.
## **6. INVESTMENTS**
The CIO held no investment assets during this or the previous financial period.
## **7. CASH AT BANK AND IN HAND**
|**8. DEBTORS AND PREPAYMENTS**
Prepayment
Lloyds Current
Petty Cash|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Aug-23**
**31-Aug-22**
£
£
**£**
**£**
809
-
809
8,142
1
-
1
-
810
-
810
8,142
Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Aug-23**
**31-Aug-22**
£
£
**£**
**£**
-
-
-
51
**-**
**-**
**-**
**51**|
|---|---|
## **9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Sundry Creditors
PAYE & NI
Independent Examiner's Fee|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Aug-23**
**31-Aug-22**
£
£
**£**
**£**
1,259
-
1,259
289
392
-
392
-
720
-
720
720
**2,371**
**-**
**2,371**
**1,009**|
|---|---|
## **10. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
The CIO held no creditors falling due in more than one year during this or the previous financial period.
**15**
## **MOOR LANE CHURCH PRE-SCHOOL CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2023**
## **11. STAFF COSTS AND NUMBERS**
**----- Start of picture text -----**
||||
|---|---|---|
|TOTAL|TOTAL|
|2022/23|2021/22|
|£|£|
|Gross Wages & Salaries|41,796|48,604|
|-|-|
|Employer's National Insurance Costs|
|Employer's Pension Contributions|355|417|
|42,151|49,021|
|Average number of employees who were engaged in each of the following activities:|
|TOTAL|TOTAL|
|2022/23|2021/22|
|£|£|
|Charitable Activities|5|8|
**----- End of picture text -----**
The CIO operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2022 - None)
## **12. TRUSTEES AND OTHER RELATED PARTIES**
No payments were made to trustees or any persons connected with them during this financial period. (2022 - None)
£3,548 was paid to St Luke's Church Cranham Park where C Jee is also a trustee. these costs were related to hall hire and utilities. (2022 - None)
## **13. RISK ASSESSMENT**
The Trustees actively review the major risks which the CIO 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.
## **14. 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.
## **15. 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.
This page does not form part of the statutory financial statements
16