M & D CHARITY BOX CIO
CHARITY COMMISSION REGISTERED NO. 1191937
STATEMENT OF ACCOUNTS
for the year ended
31 March 2024
M & D CHARITY BOX CIO
CONTENTS
| Trustees Annual Report | 1 to 3 |
|---|---|
| Independent Examiner's Report | 4 |
| Statement Of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes To The Accounts | 7 to 9 |
M & D CHARITY BOX CIO TRUSTEES ANNUAL REPORT
for the year ended 31 March 2024
The trustees have pleasure in presenting their report and the financial statements of the charitable company for the year ended 31 March 2024.
It is with heavy hearts that we announce the passing of our dear friend and fellow trustee, Maureen Anderson on 16 May 2024. Maureen was the driving force behind the charity and it is with this in mind that the remaining trustees, friends and advisers that we are to carry on with the charity and continue to drive it forward. it is with Maureen in mind and in her honour that we will look to make significant donations in the coming years.
Charity information
M & D Charity Box CIO is registered under a Foundation Constitution, dated 2 October 2020 as a Charitable Incorporated Organisation in England and Wales, registered number 1173988 on 22 October 2020.
The registered address is 31 High Street, Thurlby, Bourne, Lincolnshire, PE10 0ED.
The principal address for the operation of the charity is 42 Winsover Road, Spalding, Lincolnshire, PE11 1EN. The charity is known locally as 'Spalding Charity Shop'.
The charity's trustees during the year to 31 March 2024 were:
David Coleman Chairperson Maureen Anderson Trustee Died 16 May 2024 Justin Grimshaw Trustee
The CIO shall have a Board of Trustees comprising at least three persons. New Trustees may be recruited to the Board at any time by the Trustees. In selecting individuals for appointment as Trustees, the Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. The Trustees may, by and from their number and from time to time, elect such officers (chair, secretary, treasurer) as they see fit.
In order to be a trustees the nominated person must be over the age of 16 years With no undischarged bankruptcy or having made any composition or arrangement with creditors and must not have an unspent conviction involving dishonesty or deception or be disqualified by law from serving as a Trustee.
Any trustee must be willing to be involved hands on due to the current size of the charity and will be presented with the policies which the charity has in place for finance, welfare and its grant making policy all of which must be adhered to.
The Trustees shall manage the affairs of the CIO and may exercise all the powers of the CIO. they are expected to attend any meeting of the Trustees. It is the duty of each Trustee to exercise his or her powers as a Trustee in the way he or she considers to be in the best interests of the CIO’s Objects and beneficiaries; and exercise such care and skill as is reasonable in the circumstances having regard in particular to any special knowledge or experience that he or she has or claims to have.
Bank : Barclays Bank Plc, 10 Hall Place, Spalding PE11 1SR.
Independent Examiner : Ken Maggs, Chartered Accountant, Spalding.
Aims and objectives:
The trustees are organising a shop to raise funds for nominated charities. They will undertake any activities considered necessary to support local charities. The trustees are organising a shop to raise funds for nominated charities. They will undertake any activities considered necessary to support local charities.
The charitable objects are to further such other purposes which may be charitable according to the law of England and Wales as the trustees see fit from time to time.
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M & D CHARITY BOX CIO
TRUSTEES ANNUAL REPORT (continued)
for the year ended 31 March 2024
Public benefit:
The trustees consider that the objectives and activities of the charity are in accordance with the Charity Commissions' general guidance on public benefit because the funds raised have been used to support people in financial need and local sections of, and local charities.
Review of the year
As at 31 March 2024, the cash at bank amounted to £22,505 (2023 - £22,469), and the cash in hand (including paid by card awaiting clearance) amounted to £442 (2023 - £515).
The charities and organisations supported by the charity are those nominated by the public of Spalding in Lincolnshire and designated by the trustees.
During the year ended 31 March 2024, the charity provided grants payable as described below.
Grants amounting to £1,500 (2024 - £1,500) were paid to The Donkey Sanctuary during the year. The Donkey Sanctuary have worked to transform the lives of donkeys across the world. The charity's mission is to create a world where donkeys and mules live free from suffering, and their contribution to humanity is fully valued.
They help the donkeys and the people who rely on them for their livelihoods, to cope with physical, mental and emotional challenges. This is done with collaboration, they treat every interaction as a two-way opportunity to learn and teach. The trustees aim to help their networks of partners, communities and individuals become donkey welfare ambassadors where they live and work. Unfortunately, as with all charities the resources are finite. This means that they must exercise creativity to deliver our vision.
The charity is popular in the Spalding area with many land owners offering homes for homeless donkeys which require love and attention.
Battersea Dogs' & Cats' Home is a charity registered in England and Wales, charity number 206394. The charity aims to never turn away a dog or cat in need of help. It reunites lost dogs and cats with their owners; but when they cannot achieve this, they will care for them until new homes can be found. They aim to educate the public about responsible pet ownership.
Battersea Dogs' & Cats' Home gained prominence in Spalding after an incident in 2019 highlighted their positive contribution to the welfare of these animals. Battersea Dogs and Cats Home renewed its calls for tougher animal cruelty sentences, after a dead dog was found in a river in Spalding with bricks tied round its neck.
The area has supported the charity and with large dogs and cat population in such a rural area support is high both financial and in rehoming animals. The charity has been able to donate a further £1,000 (2023 - £500) to this charity during the year.
Great Ormond Street Hospital Children's Charity is a company limited by guarantee (company number 09338724) and a registered charity (charity number 1160024) both within England and Wales. The charity has supported and assisted many people of all ages in the Spalding area over a large number of years.
Every day brings new challenges at Great Ormond Street Hospital (GOSH). Every day, about 600 children and young people from across the UK arrive for life-changing treatments. Young lives frequently hang in the balance as patients, families and staff battle the most complex illnesses. Every day, the brightest minds come together to achieve pioneering medical breakthroughs that change the lives of thousands of children – and change the world.
Despite the greatest challenges a child can face, the hospital is a place where being sick does not always mean being sad. And it’s a place where you’ll find – today and every day – some of the bravest people you could ever meet. This extraordinary hospital has always depended on charitable support, and every day is a chance for you to make a difference.
The trustees have been able to make donations of £250 (2023 - £790) throughout the year.
The charity has also continued putting up community notices on behalf of the local residents and organisations. It has proven to be a good place for people to meet and discus matters in warm and dry facility. The shop provides some elderly people the chance to get out of the house and meet other people whilst giving them an opportunity to assist and feel useful.
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M & D CHARITY BOX CIO
TRUSTEES ANNUAL REPORT (continued)
for the year ended 31 March 2024
Reserves and risks policies
The trustees have made the decision to ensure that the charity is a Going Concern and have therefore been retaining funds to ensure that the charity can meet its financial commitments. Any excess funds will always then be available for distribution to the selected charities by members of the Spalding community.
At the year end, the trustees have excess funds of £5,700 available for distribution to various charities and this will be carried out as soon as possible after the financial statements have been approved.
Excess reserves are distributed to charity after a level of working capital is retained in the bank account. As a result of the Trustees' policy to designate funds to the nominated charities there are no 'Free Reserves'.
In order to prevent access to cash a small cash float is kept on site but the daily cash is all removed and banked regularly. Due to the nature of recent trading the shop is now able to accept card payments which has resulted in increased changes but does protect funds also.
Signed by order of the Trustees:
David Coleman Trustee
Dated: 4 December 2024.
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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE
M & D CHARITY BOX CIO
I report to the trustees on my examination of the accounts of the Charity for the year ended 31 March 2024, which are set out on pages 5 to 9.
Responsibilities and basis of report
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the 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:
-
accounting records were not kept in respect of the charity 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 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.
Dated: 5 December 2024 .
K.J. Maggs B.A., F.C.A. Chartered Accountant Spalding
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M & D CHARITY BOX CIO
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2024
----- Start of picture text -----
Unrestricted 2024 Unrestricted 2023
Funds Total Funds Total
Note £ £ £ £
INCOME
Charitable activities 2 23,675 23,675 28,959 28,959
TOTAL INCOME 23,675 23,675 28,959 28,959
EXPENDITURE
Charitable activities
Grants payable 3 2,750 2,750 2,840 2,840
Shop trading costs 1,532 1,532 398 398
Support costs 4 16,930 16,930 16,532 16,532
Governance costs
Independent examiner's fees 500 500 500 500
TOTAL EXPENDITURE 21,712 21,712 20,270 20,270
NET INCOME 1,963 1,963 8,689 8,689
Net gains on investments - - - -
NET MOVEMENT IN FUNDS 1,963 1,963 8,689 8,689
Fund balances as at:
1 April 2023 22,484 22,484 13,795 13,795
31 March 2024 24,447 24,447 22,484 22,484
----- End of picture text -----
The notes on pages 7 to 9 form part of these accounts
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M & D CHARITY BOX CIO
BALANCE SHEET
At 31 March 2024
----- Start of picture text -----
2024 2023
Note £ £ £ £
CURRENT ASSETS
Cash at bank 22,505 22,469
Petty cash and card payments outstanding 442 515
Other debtors 2,000 -
24,947 22,984
CREDITORS: Amounts falling due within
one year
Accruals and deferred income 500 500
NET CURRENT ASSETS 24,447 22,484
INCOME FUNDS
Unrestricted funds 18,747 22,484
Designated funds 9 5,700 -
24,447 22,484
----- End of picture text -----
The financial statements on pages 6 to 10 were approved by the Trustees on 4 December 2024 and signed on their behalf by:
DP Coleman Chair
JSJ Grimshaw Trustee
The notes on pages 7 to 9 form part of these accounts
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M & D CHARITY BOX CIO NOTES TO THE ACCOUNTS
for the year ended 31 March 2024
1. Accounting Policies
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(a) Basis of preparation of financial statements
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the Charity.
(b) Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
There are currently no restricted funds .
Income and expenditure which complies with these criteria is identified to the fund.
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
(d) Expenditure recognition
Expenditure is accounted for gross on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable activities expenditure include all resources applied by the Charity in undertaking its charitable objectives as opposed to support costs. They are the resources expended in handling applications for relief and administering grants approved by the Trustees.
Grants payable are recognised in the Statement of Financial Activities when they have been approved by the Trustees, all conditions for payment have been satisfied and the payments have been made to
Shop trading costs are recognised in the Statement of Financial Activities when they have been incurred and relate to those costs of selling items in the charity shop, displaying the same, showing prices and preparing them for sale.
Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs and governance costs.
(e) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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M & D CHARITY BOX CIO
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 March 2024
1. Accounting Policies (continued)
(f) Going Concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements, which is sufficient with the level of reserves of the Charity to be able to continue as a going concern.
2. Incoming resources from charitable activities:
| 2. Incoming resources from charitable activities: | |||
|---|---|---|---|
| Shop income Recycling income |
2024 £ 22,715 960 |
2023 £ 28,633 326 |
|
| 23,675 | 28,959 | ||
| 3. Grants Payable in furtherance of the Charity's Objects The Donkey Sanctuary Battersea Dog's & Cats' Home GOSH Other small donations |
2024 £ 1,500 1,000 250 - |
2023 £ 1,500 500 790 50 |
|
| 2,750 | 2,840 | ||
| 4. Support costs Casual wages Rent payable Rates Electricity Transport costs Telephone and internet Repairs and maintenance Cleaning materials and waste disposal Advertising Volunteers expenses Sundry expenses Bank charges |
2024 £ 4,500 7,740 73 1,357 2,281 110 254 179 24 76 30 306 |
2023 £ 5,200 7,745 138 600 1,850 50 277 162 - 133 75 302 |
|
| 16,930 | 16,532 | ||
| 5. Employee emoluments There are no employees who received emoluments exceeding £60,000. Ee no. Vol. no. - 6 2024 Average number of employees / volunteers during the period |
Ee no. - |
Vol. no. 8 2023 |
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M & D CHARITY BOX CIO
NOTES TO THE ACCOUNTS (continued)
for the year ended 31 March 2024
6. Trustees Remuneration, Expenses and Control
During the year, remuneration or expenses were paid to two of the Trustees for their roles shop keepers but nothing has been paid to them as trustees. All trustee work has been on a voluntary basis only. The Charity is controlled by the Trustees as a body. No individual Trustee has control over the Charity.
| Casual wages Mileage - (below accepted fuel rates) |
2024 £ 4,500 2,281 6,781 |
2023 £ 5,200 1,850 7,050 |
|---|---|---|
Due to the nature of the charity's activities the trustees are also employees (not contracted). However, no element of their remuneration is linked to their role as trustees.
7. Related Party Transactions
The trustees consider that there are no related parties to the charity requiring disclosure.
The charity is controlled by the Board of Trustees and no individuals can or do exert control.
8. Financial commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| Not later than one year Later than one and not later than five years |
2024 £ 7,740 10,905 18,705 |
2023 £ 7,740 18,705 26,445 |
|---|---|---|
9. Designated funds
The trustees have targeted ensuring the survival of the charity by building reserves to a level that will cover the rental commitments. Any rounded excess is then designated as available for distribution to charities.
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