Registered Charity Number: 1174964
:
LANCASHIRE COLLABORATIVE MINISTRY CIO
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023
Ainsworths Limited Charter House Stansfield Street Nelson Lancashire BB9 9XY
LANCASHIRE COLLABORATIVE MINISTRY CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023
| Page | |
|---|---|
| Report ofthe Trustees | 1-3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| NotestotheFinancialStatements | 7-12 |
LANCASHIRE COLLABORATIVE MINISTRY CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2023
The trustees present their annual report and the unaudited financial statements of the charity for the year ended 31* August 2023.
The financial statements comply with the Charities Act 2011 and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (effective 1‘ January 2015) — (Charities SORP (FRS 102)).
LEGAL AND ADMINISTRATIVE DETAILS
Registered charity number 1174964
Registered address Bowland House Philips Road Whitebirk Estate Blackburn BB1 5NA
Trustees Tony Cann Lawrence Forshaw Dorothy Hewerdine Anne Mills Freda Whittle June Forshaw
Key management personnel Rev Dr Shannon Ledbetter
Independent Examiner Michael Heys FCCA ACA Ainsworths Limited Charter House Stansfield Street Nelson Lancashire BB9 9XY
Bankers Lloyds Bank PLC Church Street Blackburn BB2 1JQ
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LANCASHIRE COLLABORATIVE MINISTRY CIO
REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational status
Lancashire Collaborative Ministry CIO was registered as a Charitable Incorporated Organisation (“CIO”) on 3" October 2017 under the provisions of the Charities Act (Charity number: 1174964) and is governed by its foundation constitution of the same date.
Organisational structure
The Board currently consists of six trustees whose responsibility is the governance of the charity. There is one employee who tends to the day to day operations of the Charity.
Recruitment and appointment of new board members
The trustees themselves appoint new trustees to the Board as necessary. New trustees are trained by existing trustees.
Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to ensure that regular reports are produced and that necessary steps can be taken to address any issues arising.
OBJECTIVES AND ACTIVITIES
The objects and activities of the charity are:
-
e the promotion of religion in accordance with the principles of the general assembly of unitarian and free Christian churches;
-
e tocarry on activities in furtherance of the object above; and
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e the provision of financial and other support to member churches, including the support of ministers and property, enabling the churches to further their activities.
Public benefit
In setting out the charity’s objectives and planning of activities the trustees have given careful consideration to the Charity Commission’s guidance on public benefit, and believe that the activities above satisfy this requirement.
ACHIEVEMENTS AND PERFORMANCE
The Lancashire Collaborative Ministry has continued to develop relevant local activities including for families and those that need support and help.
Church services are held regularly, including, as requested, Weddings and Rites of Passage. Services are available digitally on Zoom for members and others who cannot attend in person. Support is also given to the communities local to our churches and chapels, including making our facilities available. Other activities support the interaction between different faith groups.
Future plans
No significant changes to the operations of the charity are foreseen.
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LANCASHIRE COLLABORATIVE MINISTRY CIO
REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2023
FINANCIAL REVIEW
The accounts of the charity show income of £70,097 (2022: £50,3 19) and expenditure of £61,211 (2022: £57,724). Grant income increased £20,000 from the previous year. Expenditure increased by a modest 6%, and therefore the charity has made a surplus this year of £8,886, in contrast to a deficit of £7,405 in the previous year. The trustees consider the results for the year to be satisfactory.
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at an amount that equates to 3 to 6 months operating expenditure, as recommended by the Charities Commission to allow the charity to operate effectively even when funding may decrease. Current free reserves are £16,028 equivalent to 3.1 months’ of operating expenditure. Whilst the current level of reserves are at the bottom end of the targeted level, they are nonetheless in the range desired. The trustees are satisfied with the net asset position although these levels of free reserves are reviewed on a regular basis.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
Under charity law, the trustees are responsible for preparing the Report of the Trustees and the financial statements for each financial year which showa true and fair view of the state of affairs of the charity and of the net income/expenditure for that period.
In preparing these financial statements, generally accepted accounting practice entails that the trustees:
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e — select suitable accounting policies and then apply them consistently; ¢ make judgements and estimates that are reasonable and prudent; © state whether the recommendations of the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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¢ state whether the financial statements comply with the trust deed, subject to any material departures disclosed and explained in the financial statements; and
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® prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.
The trustees are required to act in accordance with the trust deed of the charity, within the framework of trust law. They are responsible for keeping proper accounting records, sufficient to disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable them to ensure that, where any statements of accounts are prepared by them under the Charities Act 2011 and the applicable Charity (Accounts and Reports) Regulations, those statements of accounts comply with the requirements of regulations under those provisions. The trustees also have a general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
Charity requirements
This report has been prepared in accordance with requirements set down by the Charities SORP (FRS 102).
Approved by order of the board of trustees on the 1‘ of May 2024 and signed on its behalf by:
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Tony Cann, Trustee
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LANCASHIRE COLLABORATIVE MINISTRY CIO
I report to the trustees on my examination of the accounts of the Lancashire Collaborative Ministry CIO (the Charity) for the year ended 31“ August 2023.
Responsibilities and basis of report
As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act’).
I report in respect of my examination of the Charities accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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:
- (1) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or (2) the accounts do not accord with those records: or (3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirements that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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.
i Micieat Wyssbe
Michael Heys FCCA ACA
Association of Chartered Certified Accountants Ainsworths Limited Chartered Accountants Charter House Stansfield Street Nelson BB9 9XY
Dated 1‘! May 2024
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LANCASHIRE COLLABORATIVE MINISTRY CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2023
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|||||||||
|---|---|---|---|---|---|---|---|
|Notes|Unrestricted|Restricted|
|funds|funds|2023|2022|
|3|£|fe|
|INCOME|FROM:|
|Donations|and|legacies|2|70,000|-|70,000|50,000|
|Charitable|activities|3)|-|-|-|319|
|Investment|income|4|97|-|97|-|
|TOTAL INCOME|70,097|-|70,097|50,319|
|EXPENDITURE|ON:|
|Charitable|activities|5|61,211|°|61,211|57,724|
|TOTAL|EXPENDITURE|61,211|-|61,211|57,724|
|NET (EXPENDITURE)/INCOME|8,886|-|8,886|(7,405)|
|Other|recognised|gains/(losses)|-|-|-|-|
|NET MOVEMENTS|IN FUNDS|8,886|-|8,886|(7,405)|
|RECONCILIATION|OF|FUNDS:|
|Total|funds|brought|forward|7,142|1,092|8,234|15,639|
|10|
|Total|funds|carried forward|16,028|1,092|17,120|8,234|
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All transactions relate to continuing operations.
There are no other recognised gains or losses for the period other than in the Statement of Financial Activities.
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LANCASHIRE COLLABORATIVE MINISTRY CIO
BALANCE SHEET
AS AT 31 AUGUST 2023
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Notes|2023|2022|
|£|£|£|£|
|CURRENT|ASSETS|
|Debtors|8|5,760|397|
|Cash|at|bank|and|in|hand|12,563|9,040|
|18,323|9,437|
|CREDITORS|
|Amounts|falling|due|within|one|year|9|1,203|1,203|
|NET CURRENT ASSETS|17,120|8,234|
|NET ASSETS|17,120|8,234|
|FUNDS|
|Restricted|10|1,092|1,092|
|Unrestricted|10|16,028|7,142|
|TOTAL FUNDS|17,120|8,234|
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These financial statements were approved by the Board of Trustees on the 1‘ of May 2024 and signed on its behalf by:
Tony Cann Trustee
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LANCASHIRE COLLABORATIVE MINISTRY CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023
1. ACCOUNTING POLICIES
Statutory information
Lancashire Collaborative Ministry CIO is a charitable incorporated organisation registered with the Charity Commission in England. The registered charity number and address can be found in the Report of the Trustees on page 1.
Basis of preparation
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 United Kingdom and Republic of Ireland (FRS 102) issued on 16" July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and United Kingdom Generally Accepted Practice as it applies from 1 January 2015.
Lancashire Collaborative Ministry CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that the charity has adequate resources to continue trading for the foreseeable future.
Cash flow
The charity is exempt from the requirement to prepare a cash flow statement as it qualifies as a small entity.
Income All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Income from grants and similar incoming resources are included in the period in which they are receivable.
Any income received for specific purpose is accounted for as restricted funds when receivable.
Expenditure
Expenditure is accounted for on an accruals basis (inclusive of attributable value added tax which cannot be recovered) and has been classified under the principal categories related to the cost.
Costs allocated to activities in the furtherance of the charity’s objects are those directly associated with achieving the charity’s goals. Support costs are those incurred in connection with the management of the company’s assets, organisational administration and compliance with constitutional and_ statutory requirements. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
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LANCASHIRE COLLABORATIVE MINISTRY CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2023
1. ACCOUNTING POLICIES (Continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general activities of the charity. Surplus funds can be allocated to restricted projects if the trustees believe they are required.
Restricted funds are funds subject to specific restriction imposed by the donors for the purpose of any appeal in which the funds are raised and can only be used for particular purpose within the objects of the charity.
Taxation
The company is a registered charity and is therefore exempt from Income Tax and Corporation Tax under the provisions of Section 505(1) of the Income and Corporation Taxes Act 1988.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term creditors are measured at transaction price.
Significant judgements and estimates
The trustees consider that no significant judgements or estimates have been made in the preparation of these financial statements.
- DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| GRANTINCOME FROM: | ||
| The Bowland Charitable Trust | 50,000 | 30,000 |
| Nazareth Chapel | 18,000 | 18,000 |
| Chorley Unitarian Chapel | 2,000 | 2,000 |
| 70,000 | 50,000 |
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LANCASHIRE COLLABORATIVE MINISTRY CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 315? AUGUST 2023
| 3. | CHARITABLE ACTVITIES | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| Income from book sales | - | 319 | |||
| - | 319 | ||||
| 4, | INVESTMENT INCOME | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Interest receivable | 97 | - | |||
| 97 | - | ||||
| 5. | EXPENDITUREON CHARITABLE | ||||
| ACTIVITIES | |||||
| Unrestricted | Restricted | 2023 | 2022 | ||
| £ | x | £ | £ | ||
| Salaries | 35,877 | - | 35,877 | 35,126 | |
| Social security costs | (2,475) | - | (2,475) | - | |
| Defined contribution pension costs | 3,589 | - | 3,589 | 3,509 | |
| Administrative services | 13,985 | - | 13,985 | 9,599 | |
| Printing, postage and stationery | 846 | - | 846 | - | |
| Grants paid to and on behalf ofinstitutions (see | |||||
| below) Travelling expenses Advertising |
1,155 2,360 4,271 |
: - - |
1,155 2,360 4,271 |
2,569 4,042 1,056 |
|
| Independent Examiner’s fees (see below) | 1,200 | - | 1,200 | 1,200 | |
| Sundry expenses | 372 | - | 372 | 589 | |
| Bank charges | 31 | - | 31 | 34 | |
| 61,211 | - | 61,211 | 57,724 |
All grants were paid to or on behalf of religious institutions in respect of repairs and maintenance of land and buildings from which they operate.
The fees paid to the Independent Examiner consist of fees paid for the preparation of the financial statements £900 (2022: £900) and for the independent examination £300 (2022: £300).
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LANCASHIRE COLLABORATIVE MINISTRY CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2023
6. STAFF COSTS
The average number of employees of the charity in the period was 1 (2022: 1). Salary and pension costs are disclosed in note 5 above, and relate solely to key management personnel named on page 1.
No employees were remunerated by more than £60,000 in the current nor preceding years.
Ts COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | Total funds | ||
| £ | £ | |||
| INCOME FROM: | ||||
| Donations and legacies | 50,000 | - | 50,000 | |
| Charitable activities | 319 | - | 319 | |
| TOTAL INCOME | 50,319 | . | 50,319 | |
| EXPENDITURE ON: | ||||
| Charitable activities | 57,724 | - | 57,724 | |
| TOTALEXPENDITURE | 57,724 | - | 57,724 | |
| NET (EXPENDITURE)/INCOME | (7,405) | - | (7,405) | |
| Other recognised gains/(losses) | - | - | - | |
| NETMOVEMENTS INFUNDS | (7,405) | - | (7,405) | |
| RECONCILIATION OFFUNDS: | ||||
| Total funds brought forward | 14,547 | 1,092 | 15,639 | |
| Total funds carried forward | 7,142 | 1,092 | 8,234 | |
| 8. | DEBTORS | |||
| 2023 | 2022 | |||
| £ | if | |||
| Social security | - | 397 | ||
| Other debtors | 5,760 | - | ||
| 5,760 | 397 |
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LANCASHIRE COLLABORATIVE MINISTRY CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2023
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|9,|CREDITORS:|AMOUNTS|FALLING|DUE|WITHIN|ONE|YEAR|
|2023|2022|
|£|£|
|Accruals|1,203|1,203|
|1,203|1,203|
|10.|ANALYSIS|OF|NET|ASSETS|BETWEEN|FUNDS|
|Unrestricted|Restricted|Total|funds|Total|funds|
|funds|funds|
|2023|2023|2023|2022|
|£|£|£|£|
|Current|assets|17,231|1,092|18,323|9,437|
|Current|liabilities|(1,203)|.|(1,203)|(1,203)|
|16,028|1,092|17,120|8,234|
|11.|MOVEMENT|IN|FUNDS|
|Net|
|movement|
|At|01.09.22|infunds|At|31.08.23|
|£|£|£|
|Unrestricted|funds|
|General|funds|7,142|8,886|16,028|
|Restricted|funds|
|Legal|advice|sessions|1,092|-|1,092|
|TOTAL FUNDS|8,234|8,886|17,120|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Net|
|Incoming|Resources|movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|funds|70,097|61,211|8,886|
|Restricted|funds|
|Legal|advice|sessions|-|-|-|
|TOTAL FUNDS|70,097|61,211|8,886|
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LANCASHIRE COLLABORATIVE MINISTRY CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST AUGUST 2023
11. MOVEMENT IN FUNDS (CONTINUED)
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Comparative|for|movement|in|funds|Net|
|movement|
|At|01.09.21|infunds|At|31.08.22|
|£|£|£|
|Unrestricted|funds|
|General|funds|14,547|(7,405)|7,142|
|Restricted|funds|
|Legal|advice|sessions|1,092|-|1,092|
|TOTAL FUNDS|15,639|(7,405)|8,234|
|Comparative|movement|in|funds,|included|in|the|above|are|as|follows:|
|Net|
|Incoming|Resources|movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|funds|50,319|57,724|(7,405)|
|Restricted|funds|
|Legal|advice|sessions|=|=|2|
|TOTAL FUNDS|50,319|57,724|(7,405)|
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Unrestricted funds represent surplus income in excess of expenditure and is available for use by the trustees in accordance with the charitable objects.
A legal advice clinic has been launched at Rawtenstall Unitarian Church on Bank Street. This initiative is in partnership with the Open University’s Open Justice Centre and the University of Lancaster’s Law School. The partners want to help alleviate the strain caused by unresolved legal issues at a time when legal support services have been cut significantly.
12.
TRUSTEES
Expenses of £320 (2022: £nil) were reimbursed to 1 (2022: nil) trustee in the year in respect of travel expenses.
- RELATED PARTY TRANSACTIONS
There were no related party transactions in the current nor preceding year.
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