Combe Martin Community Foundation Registered Charity Number: 1189384
Combe Martin Community Foundation
Trustees Annual Report and Accounts For the year ended 31[st] December 2023
Combe Martin Community Foundation
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31[st] December 2023
| Page | ||
|---|---|---|
| Report of the Trustees | 1 to | 2 |
| Independent Examiner's Report | 3 | |
| Receipts and Payments | 4 | |
| Statement of Assets and Liabilities | 5 | |
| Notes to the Accounts | 6 |
Combe Martin Community Foundation REPORT OF THE TRUSTEES for the year ended 31[st] December 2023
The trustees present their report and accounts for the year ended 31st December 2023. The trustees have opted, under section 133 of the Charities Act 2011 (‘the Charities Act’), to prepare receipts and payments accounts
Objectives and Aims
The objects of the CIO are:
- to further such charitable purposes for the benefit of people living in Combe Martin, Devon and the surrounding area, as are exclusively charitable according to the laws of England and Wales, as the trustees may from time to time determine, by making grants to other charities and organisations in furtherance of exclusively charitable purposes.
Public benefit
The Trustees have considered the Charity Commission guidance on public benefit and consider that the activities of the charity meet its charitable objectives and provide a benefit to the public.
Achievement and Performance
Charitable activities
Due to unforeseen circumstances the shop was forced to move premises at the start of 2023. Although this brought unexpected costs, it also led to larger premise and better space for displaying goods. This has had a positive effect on our sales, and the new shop has been welcomed by our volunteers as well as village residents and visitors. Donations have continued to come in thick and fast, and what can’t be sold in the shop is either donated to other charities or sold to a recycling scheme. We now have a team of approximately 40 volunteers, and we also continue to support occasional students doing work experience for their Duke of Edinburgh Award. We have donated just over £30,000 during the year in response to funding requests from local charities and organisations.
Financial review
The Charity had a deficit of £4,553 for the year ended 31[st] December 2023 (2022: surplus £29,527). Income received was £43,134 (2022: £53,003) and expenditure of £47,687 (2022: £23,426). Unrestricted funds at the year-end were £30,874 (2022: £35,427).
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
Reserves policy
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
Risk assessment
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks
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Combe Martin Community Foundation
REPORT OF THE TRUSTEES for the year ended 31[st] December 2023
Structure, Governance and Management Governing document
Combe Martin Community Foundation is a Charitable Incorporated Organisation registered on 6[th] May 2020 The board of trustees meet regularly to discuss the work of Combe Martin Community Foundation and allocate grants. New trustees are elected by the existing trustees to the board after nomination and interview.
Financial reports are presented to the board at each meeting. Minutes of each meeting are taken and subsequently distributed.
Reference and Administration Details Registered name
Combe Martin Community Foundation
Registered Charity number
1189384
Principal address
Combe Martin Charity Shop Combe Martin Devon EX34 0DQ
Trustees
Name Position Appointments/Resignations Carole A Parsons Chair Carol D Crawford Jennifer Thorp Martin D W Worth Pamela Worth
Independent Examiner
Magnus Proctor FFA Lindisfarne Landkey Road Barnstaple EX32 9BW
Approved by the board of trustees on 6[th] February 2024 and signed on its behalf by:
............................................. Carole Parsons, Chair
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COMBE MARTIN COMMUNITY FOUNDATION
Independent examiner's report to the trustees of Combe Martin Charitable Foundation
I report to the charity trustees on my examination of the accounts of Combe Martin Charitable Foundation for the year to 31[st] December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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 requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Signed:
Magnus Proctor FFA Fellow of the Institute of Financial Accountants Lindisfarne Landkey Road Barnstaple EX32 9BW
Date: 6[th] February 2024
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Combe Martin Community Foundation
RECEIPTS AND PAYMENTS
for the year to 31[st] December 2023
| Receipts Gifts and donations Sales Recycling Grants Other income Total receipts Payments Community grants made Rent Storage Utilities Insurance Telephone Maintenance Shop consumables Capital assets purchased Accountancy Total payments Net receipts / (payments) Reconciliation of funds Transfer between funds Total Funds brought forward Total Funds carried forward |
2023 2022 Unrestricted funds Restricted funds Total Total £ £ £ £ 0 0 0 5,000 42,531 0 42,531 34,564 603 0 603 996 0 0 0 0 0 0 0 12,443 |
|---|---|
| 43,134 0 43,134 53,003 30,699 0 30,699 14,904 5,844 0 5,844 5,800 0 0 0 728 370 0 370 0 744 0 744 529 379 0 379 416 2,148 0 2,148 666 435 0 435 383 6,368 0 6,368 0 700 0 700 0 |
|
| 47,687 0 47,687 23,426 (4,553) 0 (4,553) 29,577 0 0 0 0 35,427 0 35,427 5,850 |
|
| 30,874 0 30,874 35,427 |
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Combe Martin Community Foundation
STATEMENT OF ASSETS AND LIABILITIES
At 31[st] December 2023
Fixed Assets Container Current Assets Debtors Cash at bank Current Liabilities Accruals Total Assets less Liabilities |
2023 2022 Unrestricted funds Restricted funds Total Total £ £ £ £ 3,000 0 3,000 3,000 0 0 0 0 30,874 0 30,874 35,427 (350) 0 (350) (700) |
|---|---|
| 33,524 0 33,524 37,727 |
The financial statements were approved by the Board of Trustees on 6[th] February 2024 and were signed on its behalf by:
............................................. Carole Parsons, Chair
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Combe Martin Community Foundation
1. Accounting Policies
Basis of preparing the financial statements and assessment of going concern
These accounts have been prepared on a receipts and payments basis as permitted by law for smaller charities.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
2. Trustee remuneration and benefits
None of the trustees have been paid any remuneration or received any benefits from an employment with the charity or a related entity.
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