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2023-12-31-accounts

Charity registration number 1190499

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Annual report and unaudited financial statements for the year ended 31 December

2023

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Legal and administrative information

Trustees Mr P Morris
J Sharpe
C Hainsworth
The Venerable Dr B F Wilson
F Jones
D Griffiths
M McKenzie
Rev. C Browne
K Reynolds
Charity number 1190499
Principal address TheMelangell Centre
Pennant Melangell
Llangynog
Oswestry
SY10 OHQ
Independent examiner M D Coxey & Co Limited
25 Grosvenor Road
Wrexham
LL11 1BT

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Contents

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 11
Detailed income and expenditure account 12

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Trustees' report

For the year ended 31 December 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Saint Melangell's Shrine Church and Centre is a Christian Charity in the Tanat Valley for people of all faiths or none, which supports individuals and groups through reflection, listening and pastoral care. We provide services, a space for reflection and spirituality, and facilities for education, training events, retreats and quiet days, with some residential accommodation available.

Achievements and performance

At the end of the year the charity had capital funds £155,363. The Trustees intend that the funds will be utilised in future periods in accordance with the charity's objectives.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The charity is a Charitable Incorporated Organisation.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr P Morris

J Sharpe C Hainsworth The Venerable Dr B F Wilson

F Jones D Griffiths M McKenzie Rev. C Browne K Reynolds

The Trustees are appointed according to the charity's governing document and are referred to as the "Council of Management".

K Reynolds performs administrative duties for which she is remunerated, see the notes to these accounts for more information.

1

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Trustees' report (continued)

For the year ended 31 December 2023

The trustees' report was approved by the Board of Trustees.

Mr P Morris Trustee

Date :

2

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Independent examiner's report

TO THE TRUSTEES OF SAINT MELANGELL SHRINE CHURCH AND CENTRE

I report to the trustees on my examination of the financial statements of Saint Melangell Shrine Church and Centre (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Dated: 11[th] October 2024

3

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Statement of financial activities

Including income and expenditure account

For the year ended 31 December 2023

Notes
Income from:
Donations and legacies
2
Investments
3
Total income
Expenditure on:
Governance costs
4
Charitable activities
Total expenditure
Net (outgoing)/incoming resources
Gross transfers
Other recognised gains and losses:
Gains/losses on investments
Revaluation of fixed assets		 Unrestricted
funds
Restricted
funds
Total funds
Unrestricted
funds
Restricted
funds
Total funds
£
£
£
£
£
£
27,551 - 27,551
22,832 1,000 23,832
581-581
74-74
28,132-28,132
22,906 1,000 23,906
4,813 - 4,813
6,100 - 6,100
25,060 1,999 27,059
32,119 60 32,179
29,873 1,999 31,872
38,219 60 38,279
(1,741)
(1,999)
(3,740)
(15,313)
940
(14,373)
(6,501) 6,501 -
- - -
9,260
9,260
- -
(166,732) -
(166,732)
80,000 -
80,000
(174,974) 13,762
(161,212)
64,687 940
65,627
305,761 10,814
316,575
241,074 9,873
250,947
130,787 24,576 155,363
305,761 10,813 316,575
2023
2022
Net movement in funds
Fund balances at 1 January 2023
Fund balances at 31 December 2023

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

4

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Balance sheet

As at 31 December 2023

Notes
Fixed assets
Tangible assets
8
Investments
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due
within
one year
11
Net current assets
Total assets less current
liabilities
Creditors: amounts falling due
after
more than one year
12
Net assets
Income funds
Restricted funds
Unrestrictedfunds
General unrestricted funds
Revaluation reserve		 2023
£
£
224,114
11,537
235,651
-
63,009
63,009
(8,544)
54,465
290,116
(134,753)
155,363
24,577
124,798
5,988
130,786
155,363		 2022
£
£
392,949
2,244
395,193
705
67,690
68,395
(12,261)
56,134
451,327
(134,753)
316,574
19,494
124,360
172,720
297,080
316,574		 2022
£
£
392,949
2,244
395,193
705
67,690
68,395
(12,261)
56,134
451,327
(134,753)
316,574
19,494
124,360
172,720
297,080
316,574
395,193
56,134
63,009
(8,544)		 68,395
(12,261)
124,798
5,988		 124,360
172,720
451,327
(134,753)
316,574
19,494
297,080
316,574

The financial statements were approved by the Trustees on :

Mr P Morris Trustee

5

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Notes to the financial statements

For the year ended 31 December 2023

1 Accounting policies

Charity information

Saint Melangell Shrine Church and Centre is a charitable incorporated organisation. The CIO was registered on 21st July 2020.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

6

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Notes to the financial statements (continued)

For the year ended 31 December 2023

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 10% on cost Fixtures and fittings 25% reducing balance / 15% reducing balance/ 2% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

7

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Notes to the financial statements (continued)

For the year ended 31 December 2023

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

8

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Notes to the financial statements (continued)

For the year ended 31 December 2023

2 Donations and legacies

Donations and legacies
2023 2022
Unrestricted Restricted Unrestricted Restricted
funds funds Total funds funds Total
£ £ £ £ £ £
Donations and gifts 21,591 - 21,591 19,694 1,000 20,694
Gift aid donations 1,942 - 1,942 861 - 861
Other 4,018 - 4,018 2,277 - 2,277
27,551 - 27,551 22,832 1,000 23,832
Grants receivable for core activities included in above
Gift aid tax relief - - - 422 - 422
Shepherd Hut income 2,299 - 2,299 1,855 - 1,855
2,299 - 2,299 2,277 - 2,277

3 Investments

Interest receivable
4
Governance costs
Accountancy
Legal and professional		 Unrestricted
funds
Unrestricted
funds
2023
2022
£
£
581
74
2023
2022
£
£
4,813
4,660
-
1,440
4,813
6,100

5 Trustees

K Reynolds is employed by the Charity and remunerated for performing administrive duties. During the period, the total remuneration paid was £6,960 (2022: £10,880)

6 Employees

The average monthly number of employees during the year was:

2023 2022
1 1

9

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Notes to the financial statements (continued)

For the year ended 31 December 2023

7 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

8 Tangible fixed assets

Cost
At 1 January 2023
Revaluation
At 31 December2023
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022		 Freehold land
and buildings
Fixtures and
fittings
Total
£
£
£
391,800
30,309
422,109
(166,732)
(166,732)
225,068
30,309
255,377
8,400
20,760
29,160
1,680
424
2,104
10,080
21,184
31,264
214,988
9,125
224,113
383,400
9,549
392,949

During the previous financial period, a professional valuation of the property was carried out which valued the property known as Iscoed House at £365,000.

In 2016, a mortgage deed was drawn up agreeing an Equitable Ownership ratio of 54.32% in favour of the Centre and 45.68% in favour of the St Asaph Diocesan Board of Finance. It was further agreed, that should the property be sold, the Centre would repay the 45.68% of the sale proceeds to the Board of Finance.

During the current financial period, the decision was made to show only the percentage owned by the Centre in the financial statements, being 54.32%

Had the revaluation in 2022 not been undertaken, the historical cost of the property is £217,229 (100%).

9 Fixed asset investments

Bought forward
At 1 January 2023
Additions
Carried forward
At 31 December 2023		 Unlisted
investments
£
2,244
9,293
11,537

10

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Notes to the financial statements (continued)

For the year ended 31 December 2023

10
Debtors
Trade debtors
Prepayments and accrued income
11
Creditors: amounts falling due within one year
Trade creditors
Amount paid to parent undertaking
12
Creditors: amounts falling due after more than one year
Trade creditors		 2023
2022
£
£
-
705
-
-
-
705
2023
2022
£
£
8,544
12,261
-
-
8,544
12,261
2023
2022
£
£
134,753
134,753
134,753
134,753

A loan of £134,753 from The St Asaph Diocesan Board of Finance is included within Trade Creditors: amounts falling due after more than one year. This loan is secured over the property and is only repayble on any future sale of the Centre.

13 Analysis of net assets between funds

Fund balances at 31 December 2023
are represented by:
Tangible assets
Investments
Current assets /(liabilities)
Long term liabailities		 Unrestricted
funds
Restricted
funds
Total
Unrestricted
funds
Restricted
funds
Total
£
£
£
£
£
£
217,266
6,848
224,114
384,379
8,570
392,949
2,277
9,260
11,537
-
2,244
2,244
45,996
8,469
54,465
56,134
-
56,134
(134,753)
-
(134,753)
(134,753)
-
(134,753)
130,786
24,577
155,363
305,760
10,814
316,574
2023
2022

14 Related party transactions

Since the merger in 2022, there are no related party transactions.

15 Volunteers

The charity has a small number of volunteers who give up their free time to assist the Centre on the few occasions they are required.

11

SAINT MELANGELL SHRINE CHURCH AND CENTRE

Detailed income and expenditure account

For the year ended 31 December 2023

2023 2022
£ £ £ £
Turnover
Donations, Gifts and Sale of Small Goods 23,310 19,694
Covenants I Gift Aid Certificated Donations inc tax rebates 1,942 1,282
Bank Interest 581 75
Shepherd hut income 2,299 2,855
28,132 23,906
Cost of sales
Grants and Donations 430
Costs of fundraising 751 -
Repairs and Renewals inc adjustment for creditor (2,480) 798
Insurance 1,336 1,159
Telephone 791 722
Heating and Lighting 2,076 1,191
Water - 218
Office Expenditure 968 294
Wages 6,960 10,880
Accountancy Fees 4,813 6,100
Parish share 13,975 13,062
Sundry Expenses 423 1,281
Bank charges 156
Depreciation 2,104 2,144
31,872 38,279
Excess of (Expenditure)/lncome over
Expenditure/(lncome) (3,740) (14,373)

12