## **St Mary’s Youth Project** ## **REPORT TO THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2022** The Management Committee presents its report and the financial statements of the Project for the year ended 31 December 2022. ## **Principal address** Cleobury Mortimer Church Office The Market Hall Church Street Cleobury Mortimer Shropshire , DY14 8BX ## **Trustees** Rev W A Buck (Chairman) Mrs L Castledine Mr N Davis Mr S Harris Mrs S Hill Mr R C Kippin ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Until 3 November 2019 the St Mary’s Youth Project was an integral part of the St Mary’s Cleobury Mortimer Parochial Church Council (St Mary’s PCC). From 4 November 2019 the Project became an independent charity in the form of a Charitable Incorporated Organisation, governed by a Constitution dated 9 May 2019. The Constitution defines the Project’s objectives, its rules of operation and the appointment of its Trustees. ## **REFERENCE AND ADMINISTRATIVE DETAILS** The Project has charitable status as a Charitable Incorporated Organisation. Its charity number is 1186142. ## **TREASURER** Mr R C Kippin The Old Telephone Exchange The Hurst Cleobury Mortimer Shropshire, DY14 8EG ## **ON BEHALF OF THE MANAGEMENT COMMITTEE** ……………………………………………….. Rev W A Buck – Chairman Date ………………………………………….. 1 ## **ST MARY'S YOUTH PROJECT** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022** |||||**2022**|**2021**| |---|---|---|---|---|---| |||**Unrestricted**|**Restricted**|**Total**|**Total**| |||**funds**|**funds**|**funds**|**funds**| ||**Notes**|**£**|**£**||**£**| |**Incoming resources**|||||| |Income from individuals|2|28775|657|29432|21186| |Income from organisations||61780|6000|67780|38678| |Earned income|3|2119||2119|2875| |Income from members||42898||42898|26954| |Other income|4|332||332|1654| |**Total incoming resources**||135904|6657|142561|91347| |**Resources expended**|||||| |Employment costs|5|77394||77394|50330| |Administration & development costs||8749||8749|28145| |Activities costs||19762||19762|11415| |Other costs|6||6657|6657|6000| |**Total resources expended**||105905|6657|112562|95890| |**Net incoming/(outgoing) resources**||30000|0|30000|-4543| |**Reconciliation of funds**|||||| |Total funds brought forward||67412|0|67412|71955| |**Total funds carried forward**||97412|0|97412|67412| The notes form part of these financial statements. 2 ## **ST MARY'S YOUTH PROJECT** ## **BALANCE SHEET AS AT 31 DECEMBER 2022** ||||||**2021**| |---|---|---|---|---|---| |||**Unrestricted**|**Restricted**|**Total**|**Total**| |||**funds**|**funds**|**funds**|**funds**| ||**Notes**|**£**|**£**||| |**Current assets**|||||| |Cash at bank and in hand|7|97412|0|97412|67412| The notes form part of these financial statements. 3 ## **ST MARY’S YOUTH PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **1 ACCOUNTING POLICIES** ## **Accounting conventions** The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **Incoming resources** All incoming resources are included on the Statement of Financial Activities when they are received by the Charity. ## **Resources expended** Expenditure is accounted for when expended, and has been classified under headings that aggregate all costs 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. ## **Tangible fixed assets** These are depreciated in full in the year of purchase. ## **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 Management Committee. Restricted funds can be used only 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. ## **Pension costs and other post-retirement benefits** The Project operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 4 **2022 2021** |**2**
**INCOME FROM INDIVIDUALS**
Donations received
24198
Gift Aid reclaimed on eligible donations
5234
29432
**3**
**EARNED INCOME**
Cleobury Mortimer Primary School
1369
Other
750
2119
**4**
**OTHER INCOME**
Job retention scheme furlough payments
Sale of capital equipment
250
Investment income (Virgin Money)
67
Other
15
332
**5**
**EMPLOYMENT COSTS**
Salaries
69592
Pension costs
5774
Expenses
1249
Training
779
77394|17562
3624| |---|---| ||21186| ||1279
1596| ||2875| ||1108
500
34
12| ||1654| ||45113
3584
1474
159| ||50330| 5 ## **6 OTHER COSTS** |**OTHER COSTS**||| |---|---|---| |Methodist Circuit
Ukraine appeal|**2022**
6000
657
6657|**2021**
6000| |||6000| Methodist Circuit: rental of the Methodist Church premises, matched by an equal grant from them to the Project. Ukraine appeal: donation to the appeal from contributions from members. ## **7 CASH IN HAND** |Bank current account - Unity Trust
Bank current account - Lloyds
Charity deposit account - Virgin Money|**2022**
34183
37646
25583
97412|**2021**
17999
23897
25516
67412| |---|---|---| ## **8 TRUSTEES’ REMUNERATION AND BENEFITS** No remuneration or other benefits or expenses were paid to any member of the Management Committee for the year ended 31 December 2022, nor for the previous year. 6 ## **ST MARY’S YOUTH PROJECT** ## **FINANCIAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** After the operational difficulties of 2020 and 2021 caused by the pandemic, it is pleasing to report a more successful year in 2022. With the lifting of restrictions, activity in the Community Hub has increased significantly, and the new facilities installed in the last two years have been well used. As a result, income from members increased from £27,000 to £43,000. Income from our generous personal donors increased from £21,000 to £30,000, and with grants secured in 2021 income from organisations rose by over 80%. There has been a reduction in the small amount of income earned from premises hire, and from work in schools, and in miscellaneous income. Despite this, our overall unrestricted income of £136,000 is 60% higher than the corresponding figure in 2021. With increased activity, costs have risen proportionately. Staff numbers have again increased during the year and now comprise two full-time and one part-time staff on permanent contracts, and one part-time staff member on a temporary contract. Activity costs have risen proportionately, and at £20,000 represent just under 50% of the income from members. Overall, the Project posted a surplus of £30,000, increasing total unrestricted funds to £90,000, of which £25,000 are designated as reserves. No capital was transferred to or from reserves during the year. The trustees aim to hold liquid assets, including reserves, of between three and six months’ unrestricted turnover. Our current unrestricted assets represent around nine months’ turnover, but the trustees feel that it is prudent to hold a strong capital base. This has allowed the Project to operate and develop satisfactorily during the last two years of uncertainty, and will act as a springboard for anticipated future developments. The trustees met six times during the year. There have been no changes to the trustee body during the year. 7 ## **Independent examiner's report to the trustees of St Mary's Youth Project** I report on the accounts of the Trust for the year ended 31 December 2022, set out on pages 1 to 6. ## **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(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility: - to examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the 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 you as 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 2011 Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 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. Graham M Bradshaw BSc(Econ) ACA London 8