Marsden Community Trust Limited
Charity number 1168910
A company limited by guarantee number 09392970
Annual Report and Financial Statements
for the year ended 31 March 2024
Marsden Community Trust Limited
Annual Report and Financial Statements for the year ended 31 March 2024
| Contents | Page |
|---|---|
| Trustees' report | 2 to 4 |
| Examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 to 14 |
Prepared by West Yorkshire Community Accountancy Service CIO
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Marsden Community Trust Limited
Trustees' report for the year ended 31 March 2024
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates
Thomas Lonsdale Chair Martin Collett Jane Hurn Treasurer Gordon Bruce Adrian Lord Nathan Paul Secretary Desmond Hurley Lauren Ryall-Waite Louise Warwick Diane Ellis Joanne Warmington Alastair Hanson James Boothroyd Luke Matthews
Resigned 24 October 2023
Resigned 15 August 2023 Resigned 18 January 2024 Appointed 15 August 2023 Appointed 21 November 2023 Appointed 17 October 2023 Appointed 17 October 2023 Appointed 17 October 2023 Appointed 17 October 2023 Appointed 1 November 2023
Charity number 1168910 Company number 09392970
Registered in England and Wales Registered in England and Wales
Registered and principal address Bankers Marsden Mechanics Hall The Co-operative Bank Peel Street P O Box 250 Marsden Skelmersdale Huddersfield England HD7 6BW WN8 6WT
Independent examiner
E J Beverley FCCA West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
Structure, governance and management
The charity is a company limited by guarantee and was formed on 16 January 2015. It is governed by a memorandum and articles of association as amended by special resolution on 21 July 2016. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.
Method of recruitment and appointment of trustees
The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.
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Marsden Community Trust Limited Trustees' report (continued) for the year ended 31 March 2024
Objectives and activities
The charity's objects
To advance heritage generally and/or preserve, for the benefit of the general public, the historical, architectural and constructional heritage existing in and around Marsden in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest;
To advance the arts, culture, education, health and well-being by (but not restricted to) the provision of facilities in which these activities can take place for the benefit of the public in Marsden and/or those who, by reason of their youth, age, infirmity or disability, financial hardship or social and economic circumstances, have need of such facilities.
To provide or assist in the provision of recreational facilities for the public at large.
To advance environmental protection and improvement in Marsden through the provision, maintenance and/or improvement of public open space and other public amenities and other environmental and regeneration projects (but subject to appropriate safeguards to ensure that the public benefits so arising clearly outweigh any private benefit thereby conferred on private landowners)
To further such other exclusively charitable purposes according to the law of England and Wales as the Directors in their absolute discretion from time to time determine.
The charity's main activities
Marsden Community Trust exists to take on assets and run them for the benefit of Marsden, West Yorkshire, and the surrounding areas.
Public benefit statement
The Trust devotes most of its energy to ensuring that the community of Marsden has a robust and welcoming community centre in the Mechanics. This provision benefits all Marsden residents owing to its inclusiveness but special efforts are made to welcome the disadvantaged, for instance those living with dementia. During the Covid period, the Mechanics also played an important part in provision of a food bank for those in difficulty. These and other initiatives benefit people directly but there is also the less tangible benefit to the ambience of the village and its economic performance as a tourism destination that results from the noble presence of this fine building at the heart of the village.
Achievements and performance
We have completed the capital works to Marsden Mechanics within this financial year, which helps to ensure the structural longevity of the building, improving its future outlook.
We have worked in conjunction with Kirklees Council to run a Place Standard consultation called “What Matters to Marsden” to work towards the improvement of Marsden for residents and visitors.
Financial review
The net expenditure for the year was £16,733, including net income of £19,868 on unrestricted funds and net expenditure of £36,601 on restricted funds after transfers.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £79,724.
The charity aims to build reserves to cover 6 months operating expenditure for the purpose of ensuring the smooth running of the charity and to enable an orderly winding up should the charity need to close.
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Marsden Community Trust Limited Trustees' report (continued) for the year ended 31 March 2024
Statement of trustees' responsibilities
The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.
Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. 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.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.
Approved by the board of trustees on 17/10/2024
J S Hurn (Trustee)
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Marsden Community Trust Limited
Independent examiner's report to the trustees of Marsden Community Trust Limited
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2024, which are set out on pages 6 to 14.
Responsibilities and basis of report
As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2 the accounts do not accord with those records; or
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3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
E J Beverley FCCA
22/11/2024
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
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Marsden Community Trust Limited
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2024
| Notes 2024 Unrestricted funds £ Income from: Grants and donations (2) 17,221 Room and hall hire 21,284 Library hire 1,388 Rental income 4,488 Services 4,133 Event income 34,530 Other income 3,732 Fundraising 4,267 Activity income 2,075 Bank interest 55 Total income 93,173 Expenditure on: Salaries and NI (3) 22,418 Payroll and pension costs 601 Activity costs 254 Rates 200 Insurance 3,800 Heat and light 252 Cleaning and waste 1,474 Repairs and maintenance 8,192 Stationery and office supplies 599 Advertising 2,009 Telephone and internet 1,409 Membership 570 Events and tickets 24,368 Fundraising 1,876 Licences 1,022 Independent examination costs 1,650 Legal and professional fees 797 Bank charges 962 Equipment 638 Depreciation 4,867 Volunteer expenses - Sundries 102 Loan interest - Bad debts 258 Total expenditure 78,318 Net income / (expenditure) 14,855 Transfers between funds 5,013 Net movement in funds 19,868 Fund balances brought forward 227,655 Fund balances carried forward (4) 247,523 |
2024 Restricted funds £ 15,312 - - - - - - - 500 - 15,812 20,369 - 4,321 984 - 11,603 - 6,814 3 1,951 - - 128 233 - - 300 - 184 - 510 - - - 47,400 (31,588) (5,013) (36,601) 73,239 36,638 |
2024 Total funds £ 32,533 21,284 1,388 4,488 4,133 34,530 3,732 4,267 2,575 55 108,985 42,787 601 4,575 1,184 3,800 11,855 1,474 15,006 602 3,960 1,409 570 24,496 2,109 1,022 1,650 1,097 962 822 4,867 510 102 - 258 125,718 (16,733) - (16,733) 300,894 284,161 |
2023 Total funds £ 18,807 17,139 1,324 4,019 2,962 25,877 541 4,055 5,182 67 79,973 42,625 716 2,337 1,711 3,232 8,115 1,223 211,370 511 1,755 1,467 270 20,673 551 1,038 1,320 934 478 273 4,938 120 281 4,144 - 310,082 (230,109) - (230,109) 531,003 300,894 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Marsden Community Trust Limited
Balance sheet
| as at 31 March 2024 2024 Unrestricted £ Fixed assets Tangible assets (5) 167,799 Total fixed assets 167,799 Current assets Stock - Debtors and prepayments (6) 39,034 Cash at bank and in hand (7) 45,274 Total current assets 84,308 Current liabilities: amounts falling due within one year Creditors and accruals (8) 4,584 Total current liabilities 4,584 Net current assets / (liabilities) 79,724 Net assets 247,523 Funds Unrestricted funds 247,523 Restricted funds - Total funds 247,523 |
2024 Restricted £ - - - - 36,638 36,638 - - 36,638 36,638 - 36,638 36,638 |
2024 Total £ 167,799 167,799 - 39,034 81,912 120,946 4,584 4,584 116,362 284,161 247,523 36,638 284,161 |
2023 Total £ 171,766 171,766 - 67,706 65,862 133,568 4,440 4,440 129,128 300,894 227,655 73,239 300,894 |
|---|---|---|---|
For the year ending 31 March 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who are also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).
The financial statements were approved by the board of trustees on 17/10/2024
J S Hurn (Trustee)
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Marsden Community Trust Limited
Notes to the accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of accounting
These accounts 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 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Tangible fixed assets
Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Freehold land and buildings: over 50 years Fixtures and Fittings: over 5 years Equipment: over 4 years
Pensions
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
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Marsden Community Trust Limited
Notes to the accounts
for the year ended 31 March 2024
1 Accounting policies continued
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
Stock
Stock is valued at the lower of cost and net realisable value.
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Marsden Community Trust Limited
Notes to the accounts continued
for the year ended 31 March 2024
| 2 Grants and donations Cuckoos Nest Kirklees Council Marsden Community Trust Trading National Lottery Community Fund (TNL) Power to Change Trust One Community Other donations 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions |
2024 Unrestricted funds £ - - 11,566 - - - 5,655 17,221 |
2024 Restricted funds £ 6,626 - 5,659 - 3,000 27 15,312 |
2024 Total funds £ 6,626 11,566 5,659 - 3,000 5,682 32,533 2024 £ 41,080 1,638 (1,638) 1,707 42,787 |
2023 Total funds £ 630 1,380 10,440 (5,264) 10,000 - 1,621 18,807 2023 £ 40,848 1,564 (1,564) 1,776 42,625 |
|---|---|---|---|---|
The average number of employees during the year was 4, being an average of 1.8 full time equivalent (2023: 4.3, 1.6 FTE). There were no employees with emoluments above £60,000.
| Defined contribution pension scheme | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Costs of the scheme to the charity for the year | 1,707 | 1,776 |
| Amount of any contributions outstanding at the year end | - | 135 |
| Amount of any contributions prepaid at the year end | - | - |
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Marsden Community Trust Limited
Notes to the accounts continued
for the year ended 31 March 2024
| 4 Restricted funds Balance b/f £ Cuckoos Nest 58 Colne Valley Anchor Network 3,310 Kirklees Council - Warm spaces - Kirklees Council - Markets 233 One Community (4) 1,546 Ward Councillor funding 199 Power to Change Trust 4,206 TNL community fund 62,279 Donations re toilet refurbishment 344 Ward councillor funding (2) 1,064 73,239 |
Incoming £ - 500 6,626 - 3,000 - - 5,659 27 - 15,812 |
Outgoing £ - 1,874 3,994 233 2,607 - 2,397 35,230 1 1,064 47,400 |
Transfers £ (58) (852) (2,632) - - - (1,471) - - - (5,013) |
Balance c/f £ - 1,084 - - 1,939 199 338 32,708 370 - 36,638 |
|---|---|---|---|---|
Fund name Purpose of restriction Cuckoos Nest £1,000 towards heating repair, £1,000 towards glazing in the small room, £670 towards the toilet refurbishment and £209 towards a fridge.
The transfer relates to the small balance on the fund being transferred to unrestricted with the permission of the funder.
Colne Valley Anchor Network
Kirklees Council - Warm spaces
Kirklees Council - Markets One Community (4) Ward Councillor funding Power to Change Trust
TNL community fund
Funding towards a joint venture to provide specific community activities. The transfer relates to room hire charges relating to this fund. To provide a warm space in the Library at Marsden Mechanics. The transfer relates to the room hire cost of using the library.
To enable Marsden Markets to take place a number of times in the village. Towards a Tea Dance, a Memory Cafe and a Stay and Play group. Towards Ping sessions.
Towards core costs and providing a warm space 3 mornings a week with entertainment and refreshments to support the local community. The transfer relates to the room hire cost and cost of activities.
Towards the Marsden Mechanics Resilience Project over 3 years for capital works to the building, utility costs and salary for the Community and Business Development Manager role.
Donations re toilet refurbishment Towards the refurbishment and upkeep of the toilets in the Mechanics Institute.
Ward councillor funding (2)
Towards repair work to conservatory and fire doors, purchase and replace display boards, paint for meeting rooms and reception area, + 2 days professional time for finishing prep work and top coat of painting.
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Marsden Community Trust Limited
Notes to the accounts continued
for the year ended 31 March 2024
| 5 6 7 **8 ** |
Tangible assets Cost At 1 April 2023 At 31 March 2024 Depreciation At 1 April 2023 Charge for year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 Debtors and prepayments Debtors Amounts owed by subsidiary company Prepayments Accrued income Other debtors Cash at bank and in hand Cash at bank Cash in hand Creditors and accruals Creditors Accruals Taxation and social security Other creditors |
£ 2,389 2,389 1,657 596 2,253 136 732 Equipment |
£ 196,892 196,892 26,012 3,937 29,949 166,943 170,880 Property |
£ 2,580 3,480 2,426 334 2,760 720 154 2024 £ 3,033 11,566 3,035 19,757 1,643 39,034 2024 £ 81,847 65 81,912 2024 £ 563 3,697 108 216 4,584 Fixtures and Fittings |
Total £ 201,861 202,761 30,095 4,867 34,962 167,799 171,766 2023 £ 6,347 6,440 839 54,080 - 67,706 2023 £ 65,554 308 65,862 2023 £ 1,868 2,360 77 135 4,440 |
|---|---|---|---|---|---|
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Marsden Community Trust Limited
Notes to the accounts continued
for the year ended 31 March 2024
9 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
Trustee remuneration and benefits
No trustee received any remuneration or benefit during this or the previous year.
Remuneration and benefits received by key management personnel
The total employee benefits received by key management personnel were £32,160 (previous year: £31,702).
| Other transactions with trustees or related parties 10 Funds held as agent Balance b/f Incoming £ £ Poetry Group 475 - Ukraine Support Network 840 - Youth Club 422 1,920 1,737 1,920 Subsidiary trading company Donation from subsidiary trading company Name of trustee or related party Relationship to charity Description of transaction Marsden Community Trust Trading |
2024 £ 11,566 11,566 Outgoing £ 130 716 422 1,268 |
2023 £ 10,440 10,440 Balance c/f £ 345 124 1,920 2,389 |
|---|---|---|
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Marsden Community Trust Limited
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2024
| 2024 2023 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 17,221 12,032 Room and hall hire 21,284 17,139 Library hire 1,388 1,324 Rental income 4,488 4,019 Services 4,133 2,962 Event income 34,530 25,877 Other income 3,732 541 Fundraising 4,267 4,055 Activity income 2,075 1,872 Bank interest 55 67 Total income 93,173 69,888 Expenditure Salaries and NI 22,418 20,405 Payroll and pension costs 601 622 Activity costs 254 355 Rates 200 469 Insurance 3,800 3,232 Heat and light 252 - Cleaning and waste 1,474 1,223 Repairs and maintenance 8,192 8,980 Stationery and office supplies 599 511 Advertising 2,009 1,584 Telephone and internet 1,409 1,467 Membership 570 270 Events and tickets 24,368 19,593 Fundraising 1,876 551 Licences 1,022 1,038 Independent examination costs 1,650 1,320 Legal and professional fees 797 361 Bank charges 962 478 Equipment 638 273 Depreciation 4,867 4,938 Volunteer expenses - 120 Sundries 102 281 Loan interest - 44 Bad debts 258 - Total expenditure 78,318 68,115 Net income / (expenditure) 14,855 1,773 Transfers between funds 5,013 (315) Net movement in funds 19,868 1,458 Fund balances brought forward 227,655 226,197 Fund balances carried forward 247,523 227,655 |
2024 Restricted funds £ 15,312 - - - - - - - 500 - 15,812 20,369 - 4,321 984 - 11,603 - 6,814 3 1,951 - - 128 233 - - 300 - 184 - 510 - - - 47,400 (31,588) (5,013) (36,601) 73,239 36,638 |
2023 Restricted funds £ 6,775 - - - - - - - 3,310 - 10,085 22,220 94 1,982 1,242 - 8,115 - 202,390 - 171 - - 1,080 - - - 573 - - - - - 4,100 - 241,967 (231,882) 315 (231,567) 304,806 73,239 |
2024 Total funds £ 32,533 21,284 1,388 4,488 4,133 34,530 3,732 4,267 2,575 55 108,985 42,787 601 4,575 1,184 3,800 11,855 1,474 15,006 602 3,960 1,409 570 24,496 2,109 1,022 1,650 1,097 962 822 4,867 510 102 - 258 125,718 (16,733) - (16,733) 300,894 284,161 |
2023 Total funds £ 18,807 17,139 1,324 4,019 2,962 25,877 541 4,055 5,182 67 79,973 42,625 716 2,337 1,711 3,232 8,115 1,223 211,370 511 1,755 1,467 270 20,673 551 1,038 1,320 934 478 273 4,938 120 281 4,144 - 310,082 (230,109) - (230,109) 531,003 300,894 |
|---|---|---|---|---|
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