**REGISTERED CHARITY NUMBER: 1183617** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **FOR** ## **THE CHURCHES TOGETHER SHOP** Graham Paul Limited Court House Court Road Bridgend CF31 1BE **THE CHURCHES TOGETHER SHOP** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** **----- Start of picture text -----**
Page
Report of the Trustees 1 to 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5 to 9
Detailed Statement of Financial Activities 10
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**THE CHURCHES TOGETHER SHOP** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Background** A Maelfa Shop has been running for many years under the aegis of the "Cardiff East Ecumenical Mission Partnership" and its Sponsoring Body with Cytun. However the decision was made that it should become a CIO in its own right, and this was achieved in 2019 as The Churches Together Shop. The shop is located at Maelfa Shopping Centre, Llanedeyrn, near the eastern outskirts of Cardiff. Following many years in two other shop units in the Maelfa Centre (now demolished), it moved into its present premises in April 2019. ## **Objectives, Aims and Activities** The trustees have had regard to the guidance issued by the Charity Commission on public benefits. The prevention or relief of poverty by providing information, items and services to individuals living in East and North Cardiff who are in need. For the public benefit to promote the social inclusion of people living in East and North Cardiff, by preventing such people from becoming socially excluded, relieving the needs of people who are socially excluded and assisting them to integrate into society. The Churches Together Shop ('the Maelfa Shop') is administered by the trustees. The shop sells nearly new clothing, gifts, books, DVD's and CD's and other items at reasonable prices. There is also a café serving tea, coffee and breakfasts. It serves as a drop - in centre where volunteer staff can minister to the needs of the community. Visitors can also receive help with form filling and signposting to other care agencies, housing and benefits advice. The shop also provides a welcome to visitors, many of whom do not have opportunities to meet with other people and who appreciate having a warm, comfortable place where they feel safe and can relax and where they can mix and have companionship with others. Members of the local clergy visit the shop on a regular basis and are always available to assist any customers who wish to speak to them. ## **ACHIEVEMENT AND PERFORMANCE** ## **Achievements of the charity** The shop is a beacon of hope to many and has helped countless people over the years. The plan to add a professionally staffed counselling service to the services currently provided was delayed due to the restrictions required by Covid. The shop provides a welcome to visitors, many of whom do not have other opportunities to meet with other people and who appreciate having a warm, comfortable place where they can feel safe and relax and where they can mix and have companionship with others. Members of the clergy visit the shop on a regular basis and are always available to assist any customers who wish to speak with them. At present the shop has 6 local people who are volunteers, and these are gaining in confidence and transferable skills. An estimated 30 people visit the shop on a daily basis and a hard-core of regulars who use the cafe and who regularly compliment us on the good food, the cleanliness of the shop, for selling good quality products and the politeness of the staff. -1- **THE CHURCHES TOGETHER SHOP** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** ## **FINANCIAL REVIEW** ## **Reserves policy** Reserves are held in place to ensure that the Maelfa Shop has sufficient finances to meet any unforeseen expenditure, or respond to changing circumstances. At present the reserves need to be held in place until the manager and deputy are replaced. An additional part time manager has been appointed and has commenced their duties in September 1st 2024. The reserves also need to be held until ongoing problems with companies supplying gas, electricity and water are finalised. Once these matters are resolved, the trustees will be considering the use of part of the reserves to fund appropriate projects within the community. The trustees believe this represents sound financial and risk management. ## **Financial position** The financial position and the income and expenditure for the period are included in the detailed reports attached. The Trustees are confident that the charity will continue as a going concern. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, the Constitution, and constitutes a Charitable Incorporated Organisation registered in England and Wales with the Charity Commission. ## **Induction and training of new trustees** New Trustees are appointed at properly constituted meetings, following consideration of credentials by the existing Trustees.The existing trustees' terms of office will be extended in the same way, ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1183617 ## **Principal address** Ty Maelfa Llanedeyrn Cardiff CF23 9PL ## **Trustees** Reverend J A Henley J Thorne F L Jacobsen A L J Kleissner 15.10.24 Approved by order of the board of trustees on ............................................. and signed on its behalf by: ................................................................. Reverend J A Henley - Trustee -2- **THE CHURCHES TOGETHER SHOP** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** |2023
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Other trading activities
2
18,022
Investment income
3
486
**Total**
18,508
**EXPENDITURE ON**
Raising funds
12,356
Other
4
127
**Total**
12,483
**NET INCOME/(EXPENDITURE)**
6,025
**RECONCILIATION OF FUNDS**
Total funds brought forward
42,729
**TOTAL FUNDS CARRIED FORWARD**
48,754|2022
Total
funds
£
15,654
53
15,707
17,206
501
17,707
(2,000)
44,729
42,729| |---|---| The notes form part of these financial statements -3- **THE CHURCHES TOGETHER SHOP** ## **BALANCE SHEET 31 DECEMBER 2023** |2023
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Cash at bank
64,518
**CREDITORS**
Amounts falling due within one year
7
(15,764)
**NET CURRENT ASSETS**
48,754
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
48,754
**NET ASSETS**
48,754
**FUNDS**
8
Unrestricted funds
48,754
**TOTAL FUNDS**
48,754|2022
Total
funds
£
55,393
(12,664)
42,729
42,729
42,729
42,729
42,729| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 15.10.24 **----- Start of picture text -----**
.............................................
J A Henley - Trustee
**----- End of picture text -----**
The notes form part of these financial statements -4- **THE CHURCHES TOGETHER SHOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the incorporated charitable organisation, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared are prepared on an accruals basis. The accounts are presented in £. ## **Income** Income is recognised in the Statement of Financial Activities when the charity is at the point of sale. Goods donated to the charity are recognised at point of sale as it is impractical to determine a realisable value of the goods until that point ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Grants** Grants are recorded when received and credited to income in accordance with the performance requirements, if any, of the grant. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and bank accounts. -5- **THE CHURCHES TOGETHER SHOP** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** |**2.**
**OTHER TRADING ACTIVITIES**
Shop income
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**OTHER**
Support costs|2023
£
18,022
2023
£
486
2023
£
127|2022
£
15,654
2022
£
53
2022
£
501| |---|---|---| **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Other trading activities
Investment income|Unrestricted
fund
£
15,654
53| |---|---| |**Total**|15,707| |**EXPENDITURE ON**
Raising funds
Other|17,206
501| |**Total**|17,707| |**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward|(2,000)
44,729| -6- **THE CHURCHES TOGETHER SHOP** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** ## **7.** |Unrestricted
fund
£| |---| |**TOTAL FUNDS CARRIED FORWARD**
42,729| |**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2023
2022
£
£
Other creditors
15,764
12,664| Creditors include approximately £10,000 in accruals for utility services which have not been billed by the suppliers.The charity is attempting to identify the correct meters and related suppliers to resolve these issues. The figure is the Trustees current best estimate of costs at this time These accruals are separate from the dispute noted in contingent liabilities. ## **8. MOVEMENT IN FUNDS** |**MOVEMENT IN FUNDS**||| |---|---|---| |At 1.1.23
£
**Unrestricted funds**
General fund
42,729|Net
movement
in funds
£
6,025|At
31.12.23
£
48,754| |**TOTAL FUNDS**
42,729|6,025|48,754| |Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
18,508|Resources
expended
£
(12,483)|Movement
in funds
£
6,025| |**TOTAL FUNDS**
18,508|(12,483)|6,025| |**Comparatives for movement in funds**
At 1.1.22
£
**Unrestricted funds**
General fund
44,729|Net
movement
in funds
£
(2,000)|At
31.12.22
£
42,729| |**TOTAL FUNDS**
44,729|(2,000)|42,729| -7- **THE CHURCHES TOGETHER SHOP** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **8. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund|Incoming
Resources
resources
expended
£
£
15,707
(17,707)|Movement
in funds
£
(2,000)| |---|---|---| |**TOTAL FUNDS**|15,707
(17,707)|(2,000)| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Net
movement
At
At 1.1.22
in funds
31.12.23
£
£
£
44,729
4,025
48,754
44,729
4,025
48,754| |---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund|Incoming
Resources
resources
expended
£
£
34,215
(30,190)|Movement
in funds
£
4,025| |---|---|---| |**TOTAL FUNDS**|34,215
(30,190)|4,025| ## **9. CONTINGENT LIABILITIES** The charity has received a legal letter claiming approximately £10,000 in relation to unpaid utility bills. The charity is disputing the claim as it appears to relate to an unknown meter and to a property vacated by the charity a number of years ago which has been since demolished. -8- **THE CHURCHES TOGETHER SHOP** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **10. OTHER FINANCIAL COMMITMENTS** The company has rent commitments for its premises: Due within one year £4,500 Due between one and five years £1,125 ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2023. -9- **THE CHURCHES TOGETHER SHOP** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** |2023
£
**INCOME AND ENDOWMENTS**
**Other trading activities**
Shop income
18,022
**Investment income**
Deposit account interest
486
**Total incoming resources**
18,508
**EXPENDITURE**
**Raising donations and legacies**
Rates and water
1,783
Insurance
622
Light and heat
2,000
Postage and stationery
116
Shop Sundries
2,362
Repairs and renewals
373
Rent
4,500
Accountancy
600
12,356
**Support costs**
**Finance**
Bank charges
127
Total resources expended
12,483
**Net income/(expenditure)**
6,025|2022
£
15,654
53
15,707
1,220
369
10,000
-
1,945
-
3,012
660
17,206
501
17,707
(2,000)| |---|---| This page does not form part of the statutory financial statements -10-