CHARITY REGISTRATION NUMBER: 1168463 The Macari Foundation Unaudited Financial Statements 31 March 2024 GENERAL & MEDICAL ACCOUNTANTS LIMITED Chartered Accountants The Wedgwood Big House 1 Moorland Road Stoke on Trent Staffordshire ST6 1DJ
The Macari Foundation Financial Ststements Year ended 31 March 2024 Page Trustees, annual report Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not fomi part of the flnancial ststements Chartered accountants report to The Macari Foundation on the unaudited financial information 144
The Macari Foundation Trustees, Annual Report Year ended 31 March 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. Reference and administrative details Registered charity name The Macari Foundation Charity r8gistration number 1168463 Prfnclpal offlco Genesis Centre North Staffs Business Park Innovation Way Stoke on Trent Staffordshire ST6 4BF Tho tru8t888 Mrs A Smith Mr D J Marson Mr E Mccoy Mrs J Mccoy Mr L Macari Mr N Hancock Mr P Macari (Appointed 1 March 2024) (Appointed 1 March 2024) Accountant General & Medical Accountants Limited Chartered Accountants The Wedgwood Big House 1 Moorland Road Stoke on Trent Staffordshi ST61DJ
The Macari Foundation Trustees, Annual Report (continued) Year ended 31 March 2024 Structure, governance and management The Macari Foundation is a registered charity legally organised in the form of a Charitable Incorporation Organisation (CIO). The Trustees are the members of the CIO and their liability in the event of the CIO being wound up is limited to £1 each. The charity and its property are managed and administered by its Trustees. The charity has the following officers.. (a) A Chair, (b) A Secretary, {cl A Treasurer. A Trustee must be a member of the charity or the nominated representative of an organisation that is a member of the charity. No one may be appointed a Trustee if he or she would be disqualified from acting under the provisions of the charity's constitutions. The maximum number of Trustees will be eleven and the minimum number will be three (unless otherwise detemiined by a resolution of the charity in general meeting). A Trustee may not appoint anyone to act on his or her behalf at meetings of the Trustees. Objectlvos and actlvitles During the year, the Charity operated from rented premises based at Unit 4 Regent Road, Stoke on Trent, ST13BX and The Victoria Village, Fletcher Road, Stoke on Trent, ST4 4AJ. The centre aims to relieve poverty of persons who are homeless, at risk of becoming homeless or those who are suffering from associated issues such as substance misuse, mental health problems or crime and anti-social behaviour in North Staffordshire. Thi5 is achieved by providing night shelter accommodation, food and support to these persons to help them move on to independent living. The trustees confirmed that due regard has been paid to the public benefit guidance as published by the Charity Commission.
The Macari Foundation Trustees. Annual Report (continued) Year ended 31 March 2024 Achievements and performance The Macari Foundation continues to be overwhelmed v4ith the number of homeless and vulnerable people it has been able to support and move on to permanent a¢¢ommodation. It has partnered with like-minded organisations to support people with multiple needs across North Staffordshire. The Macari Foundation is looking to further develop the Centre to ensure that this invaluable work Continue5. As part of this development. the Centre has secured a five year lease for its premises at The Victoria Village as well as short tem ntaI properties for additional accommodation facilities in the locality. There is a dedicated team operating the Centre, who are trained to comply with health and safety regulations and quality compliance and also a strong focus to develop the support of the volunteers, with a real investment on capacity building through community., encouraging local communities to contribute through food gifts and bedding etc. Partnership working is key to ensuring that people receive the best care and support, so The Macari Foundation continues to work with organisations. attending meetings where necessary and continuing to contribute to the multi-agency work that is carried out across North Staffordshire. With homelessness on the rise, The Macari Foundation has filled a gap in the current provision for vulnerable people across the City, reducing social isolation and anti-social behaviour and providing people with a lifeline through food, shelter and Care. Flnanclal review Income Income for year ended 31 March 2024 was £616,032 (2023.. £723,776) comprising mainly of donations and rent received from Housing Benefits. Expenditure Expenditure for the year ended 31 March 2024 was £797,077 12023.. £791.954). Charitable activity expenditure accounts for the majority of total expenditure. With the reduction of public sector grants, the Charity has continued to invest in fundraising to ensure an uninterrupted service. Surplus The accounts for the year ended 31 March 2024 show a deficit of £181,04512023'. deficit of £68,178). The Trustees continue to support the excellent work that The Macari Foundation has started and they consider that there is a reasonable expectation that they have adequate resources to continue in operational existence for the foreseeable future and, for this reason, the Charity continues to adopt the 'going concern, basis in preparing the accounts. Funds and r888rv08 policy The Trustees recognise the need to maintain a level of general reserves that enables financial stability, is adequate to meet the requirements of working capitsl and acts as a cushion against fluctuations in income and expenditure of the Foundation's activities. Such reserves are built up from operating surpluses. The Trustees, policy is that free reserves should be sufficient to manage the main risks of the Foundation and its working capitsl requirements. The main risks would be a loss of income from Housing Benefit and changes to government policy. The level of free reserves as at 31 March 2024 was £412.339 which the Trustees considered to be more than adequate for the Foundation's current needs. The Trustees have confirmed that a minimum of £50,000 is kept as free reserves at any point in time to ensure the short-term needs of the Foundation can be met.
The Macari Foundation Trustees, Annual Report (contlnuod) Year ended 31 March 2024 The trustees, annual report was approved on 29 January 2025 and signed on behalf of the board of trustees by.. Mr L Macari Trustee
The Macari Foundation Statement of Financial Activities Year ended 31 March 2024 2024 Restricted funds Total funds 2023 Unrestricted fijnds Total funds Nots Income and endowmonts Charitable activities 616,032 616,032 723,776 Total Income 616,032 616,032 723,776 Expenditure Expenditure on charitable activities Totsl oxpendlture 794,961 2,116 797,077 791,954 794,961 2,116 797,077 791,954 Net expendlture and net movement In funds (178,929) 12,116) (181,045 168,178) Reconcillatlon of funds Total funds brought forward Total funds carried forward 591,268 412,339 21,659 612,927 431,882 681,105 19,543 612,927 The statement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. The notes on pages 7 to 12 fomi part of the$e financlal ststements.
The Macari Foundation Statement of Financial Position 31 March 2024 2024 2023 Nots Flxed assets Tangible fixed assets 106,325 125,649 Current assets Debtors Cash at bank and in hand 39,866 461,692 332,511 332,511 501,558 Croditors: amounts falling due within one year Net currnnt assets 10 6,954 14,280 325,557 431,882 487,278 612,927 Total assets le88 current Ilabilitlo8 Funds of the charlty Restricted funds Unrestricted funds 19,S43 412,339 431,882 21,659 591,268 Total charlty funds 11 612,927 These financial statements were approved by the board of trustees and authorised for issue on 29 January 2025, and are signed on behalf of the board by.. Mr L Macari Trustee The note$ on page8 7 to 12 forni part of these financlal 8tatemonts.
The Macari Foundation Notes to the Financial Statements Year ended 31 March 2024 General inforniation The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Genesis Centre, North Staffs Business Park, Innovation Way, Stoke on Trent, Staffordshire, ST6 4BF. ststement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP {FRS 102)) and the Charities Act 2011. Ac¢ountlng pollci88 Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concem There are no material uncertainties about the charity's ability to continue. Dlsclosure exemptlons The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 ofFRS 102.. (a) No cash flow ststement has been presented for the entity. Ib) Disclosures in respect of financial instruments have not been presented. Judgements and key sourc88 of 88tlmatlon uncortalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations offuture events that are believed to be reasonable under the circumstances. Significant judgements No significant judgements has been made. Accounting estimates and assumptions No estimates and assumptions have made.
The Macari Foundation Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policies (Continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular fijture project or commitrnent. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Incomlng rosourc88 All incoming resources are included in the statement of financial activities when entitlemenl has passed to the Charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies a applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount Can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is mpractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
The Macari Foundation Notes to the Financial Statements (¢ontlnu Year ended 31 March 2024 Accounting pollcies (eontinued) Resources expendod Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified Linder headings of the statement of finanal activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable ath'vities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the ¢harity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities Ihey contribute to on a reasonable, justifiable and consistent basis. Tanglblo as88t8 Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tsngible assets Carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreclation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Fixtures, fittings and equipment Motor vehicles 10% straight line 200k reducing balance Impairment of flxed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting date.
The Macari Foundation Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policies (contlnued) Impalrnlent of flxed assets (continu*d) For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Charltable actlvlties Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Rent and donations receivable 616,032 616,032 723,776 723,776 Expondlture on charitsblo actlvltlos by fund type Unrestricted Funds Restricted Total Fund8 Funds 2024 Support costs 794,961 2,116 797,077 Unrestricted Funds Restricted Total Funds Funds 2023 Support costs 789,309 2,645 791,954 Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries 431,900 423,821 The average head count of employees during the year was 16 {2023: 18). No employee received employee benefits of more than £60.000 during the year (2023.. Nil). Trustse remuneration and expenses No remuneration or other benefits from employment with the Charity or a related entity were received by the Trustees. 10
The Macari Foundation Notes to the Financial Statements (¢ontinued) Year ended 31 March 2024 Tangible fixed assets Fixtures and fittings Motor vehicles Total Cost At 1 AprS12023 and 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 145,577 53,561 199,138 43,756 14,558 58,314 29,733 4,766 34,499 73,489 19,324 92.813 Carrylng amount At 31 March 2024 87,263 19,062 106,325 At 31 March 2023 101,821 23,828 125,649 Debtors 2024 2023 Prepayments 39,866 10. Credltors: amounts falllng duè wlthln ono yoar 2024 2023 Other creditors 6,954 14,280 11. Analys18 of charflable funds Unre8trlcted funds At 1 April 2023 At Income Expenditure 31 March 2024 General funds 591,268 616,032 {794,961) 412.339 At 1 April 2022 At Income Expenditure 31 March 2023 General funds 656,801 723,776 (789,309) 591,268 11
The Macari Foundation Notes to the Financial Ststements (contlnu•d) Year ended 31 March 2024 11. Analysis of charitable funds (witlftu•d) Restrlcted funds At 1 April 2023 At Income Expenditure 31 March 2024 Restricted Fund 1 desc in alcs 21,659 (2,116) 19,543 At l April 2022 At Income Expenditure 31 March 2023 Restricted Fund 1- desc in alcs 24,304 (2,645> 21,659 12. Analysls of nèt assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 97,862 332,511 (6,954) 423,419 8,463 106,325 332,511 (6,954) 431,882 8,463 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 115,071 501,558 (14,280) 10,578 125,649 501,558 (14,280) 602,349 10,578 612,927 12
The Macari Foundation Management Information Year ended 31 March 2024 The followlng pages do not form part of the financial statements. 13
The Macari Foundation Chartered Accountants Report to The Macari Foundation on the Unaudited Financial Information of The Macari Foundation Year ended 31 March 2024 As described on the statement of financial position, the trustees of the charity are responsible for the preparation of the financial statements for the year ended 31 March 2024. which comprise the statement of financial activities. statement of financial position and the related notes. You consider that the charity is exempt from an audit under the Charities Act 2011. In accordance with your instructions I have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from infomation and explanations supplied to me. GENERAL & MEDICAL ACCOUNTANTS LIMITED Chartered Accountants The Wedgwood Big House 1 Moorland Road Stoke on Trent Stsffordshire ST6 1DJ 29 January 2025 14
The Macari Foundation Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Charltable activities Rent and donations receivable 616.032 723,776 Total income 616,032 723,776 Expenditure Expenditure on charltsblo aGtivities Food costs and activity expenses Wages and salaries Rent and council tax Donations Light, heat and water Repairs and maintenance Insurance Printing, postage and stationery Motor vehicle expenses Legal, professional and H&S fees Telephone staff training Deprecialion Bank charges General expenses Cleaning and laundry 32,435 431,900 169,384 769 77,689 10,746 7,945 1,108 8,834 27,552 5,949 324 19,324 397 1,329 1,392 797,077 69,602 423,821 130,792 26,000 45,063 18,212 6,608 1,278 5,201 33,268 3,531 863 20,513 508 3,302 3,392 791,954 Total expendlture 797,077 791,954 Net expendlture 1181,045) (68,178) 15