REGISTERED CHARITY NUMBER: 1192206
QUERNMORE CHAPEL
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Xeinadin Dalton House 9 Dalton Square LANCASTER LA1 1WD
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CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
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REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024
| Trustees | Mr R G Woodhouse |
|---|---|
| Mr M R Burr | |
| Mr D Whitaker | |
| Mr B Harris | |
| Mr B Carter | |
| Principal address | 2 Rock Cottage |
| Rigg Lane | |
| Quernmore | |
| LANCASTER | |
| LA2 9EJ | |
| Registered charity number | 1192206 |
| Independent examiner | Xeinadin |
| Dalton House | |
| 9 Dalton Square | |
| LANCASTER | |
| LA1 1WD | |
| Bankers | Virgin Money |
| 45 Penny Street | |
| Lancaster | |
| LA1 1UE |
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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
Objectives and aims
The object of Quernmore Chapel is the advancement of Christian faith for the public benefit, in accordance with the statement of faith in the schedule primarily but not exclusively within Quernmore and the surrounding neighbourhood; and such other charitable purposes as shall, in the opinion of the Charity Trustees put into practice the Christian faith in accordance with the statement of faith, including but not limited to: the prevention and relief of need, hardship and sickness; the advancement of education; and the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.
Public benefit
The main activities in relation to these objectives are the organisation of church meetings, the organisation of bible studies and organising events available to the community.
The trustees consider that they have complied with the duty in section 4 of the Charities Act 2012 to have due regard to the public benefit guidance published by the Charity Commission.
Financial review
The charity does not have a formal reserves policy however it is the policy of the charity to maintain balances at a level equivalent to approximately two months expenditure to cover church running costs, should income fall.
Free reserves at the year end were £130,011 (2023 - £85,876).
No funds are in deficit.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The main governing document of the Charity is set out in CIO document registered 6 November 2020.
New trustees are appointed/reappointed by the members.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................... Mr B Harris - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF QUERNMORE CHAPEL
Independent examiner's report to the trustees of Quernmore Chapel
I report to the charity trustees on my examination of the accounts of Quernmore Chapel (the Trust) for the year ended 31 March 2024.
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 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.
T M Preece FCCA
Xeinadin Dalton House 9 Dalton Square LANCASTER LA1 1WD
Date: .............................................
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STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted fund Notes £ Income and endowments from Donations and legacies 2 59,700 Investment income 3 5,562 Total 65,262 Expenditure on Charitable activities 4 Church activities 21,594 NET INCOME 43,668 Transfers between funds 10 171,616 Net movement in funds 215,284 Reconciliation of funds Total funds brought forward 86,144 Total funds carried forward 301,428 |
Restricted funds £ 54,132 - 54,132 5,655 48,477 (171,616) (123,139) 126,813 3,674 |
2024 Total funds £ 113,832 5,562 119,394 27,249 92,145 - 92,145 212,957 305,102 |
2023 Total funds £ 189,254 2,506 |
|---|---|---|---|
| 191,760 | |||
| 16,967 | |||
| 174,793 - |
|||
| 174,793 38,164 |
|||
| 212,957 |
The notes form part of these financial statements
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BALANCE SHEET 31 MARCH 2024
| Unrestricted fund Notes £ Fixed assets Tangible assets 7 171,417 Current assets Debtors 8 15,961 Cash at bank 114,200 130,161 Creditors Amounts falling due within one year 9 (150) Net current assets 130,011 Total assets less current liabilities 301,428 NET ASSETS 301,428 Funds 10 Unrestricted funds Restricted funds Total funds |
Restricted funds £ - - 3,674 3,674 - 3,674 3,674 3,674 |
2024 Total funds £ 171,417 15,961 117,874 133,835 (150) 133,685 305,102 305,102 301,428 3,674 305,102 |
2023 Total funds £ 5,078 49,246 161,114 210,360 (2,481) 207,879 212,957 212,957 86,144 126,813 212,957 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr B Carter - Trustee
............................................. Mr B Harris - Trustee
The notes form part of these financial statements
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% Reducing balance Computer equipment - 25% Straight line
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
2. Donations and legacies
| Gifts and donations Building fund gifts Gift aid 3. Investment income Deposit account interest Other interest receivable 4. Charitable activities costs Direct Costs £ Church activities 25,009 |
2024 £ 57,887 40,100 15,845 113,832 2024 £ 5,282 280 5,562 Support costs £ 2,240 |
2023 £ 57,458 104,600 27,196 |
|---|---|---|
| 189,254 | ||
| 2023 £ 2,506 - 2,506 Totals £ 27,249 |
5. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
6. Comparatives for the statement of financial activities
| Unrestricted fund £ Income and endowments from Donations and legacies 68,918 Investment income 2,506 Total 71,424 Expenditure on Charitable activities Church activities 16,548 NET INCOME 54,876 |
Restricted funds £ 120,336 - 120,336 419 119,917 |
Total funds £ 189,254 2,506 |
|---|---|---|
| 191,760 | ||
| 16,967 | ||
| 174,793 |
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 6. Comparatives for the statement of financial activities - continued Unrestricted Restricted fund funds £ £ Reconciliation of funds Total funds brought forward 31,268 6,896 Total funds carried forward 86,144 126,813 7. Tangible fixed assets Fixtures Freehold and Computer property fittings equipment £ £ £ Cost At 1 April 2023 4,810 - 534 Additions 162,223 5,000 - At 31 March 2024 167,033 5,000 534 Depreciation At 1 April 2023 - - 266 Charge for year - 750 134 At 31 March 2024 - 750 400 Net book value At 31 March 2024 167,033 4,250 134 At 31 March 2023 4,810 - 268 8. Debtors: amounts falling due within one year 2024 £ Trade debtors 15,961 Prepayments - 15,961 |
Total funds £ 38,164 212,957 Totals £ 5,344 167,223 172,567 266 884 1,150 171,417 5,078 2023 £ 27,006 22,240 49,246 |
Total funds £ 38,164 |
|---|---|---|
| 212,957 | ||
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
9. Creditors: amounts falling due within one year
| Trade creditors 10. Movement in funds Unrestricted funds General fund Restricted funds Building fund Specific gifts fund Property repairs fund TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund Restricted funds Building fund Specific gifts fund Property repairs fund TOTAL FUNDS |
At 1/4/23 £ 86,144 125,336 1,477 - 126,813 212,957 follows: |
Net movement in funds £ 43,668 46,280 (173) 2,370 48,477 92,145 Incoming resources £ 65,262 47,600 962 5,570 54,132 119,394 |
2024 2023 £ £ 150 2,481 Transfers between At funds 31/3/24 £ £ 171,616 301,428 (171,616) - - 1,304 - 2,370 (171,616) 3,674 - 305,102 Resources Movement expended in funds £ £ (21,594) 43,668 (1,320) 46,280 (1,135) (173) (3,200) 2,370 (5,655) 48,477 (27,249) 92,145 |
|---|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
10. Movement in funds - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Building fund Specific gifts fund TOTAL FUNDS |
At 1/4/22 £ 31,268 5,286 1,610 6,896 38,164 |
Net movement in funds £ 54,876 120,050 (133) 119,917 174,793 |
At 31/3/23 £ 86,144 125,336 1,477 |
|---|---|---|---|
| 126,813 | |||
| 212,957 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Building fund Specific gifts fund TOTAL FUNDS |
Incoming resources £ 71,424 119,350 986 120,336 191,760 |
Resources Movement expended in funds £ £ (16,548) 54,876 700 120,050 (1,119) (133) (419) 119,917 (16,967) 174,793 |
|---|---|---|
The Building Fund was established, through donations, to facilitate the purchase of the former Quernmore Methodist Church site incorporating the chapel and adjacent sunday school hall. The purchase was completed in August 2023.
Transfers between funds
The transfer from restricted to unrestricted funds (Building fund to General funds) represents the fixed asset acquisition of the church property. As the terms of any Building fund gift are met once the specified asset is acquired, therefore allowing the charity to use the property on an unrestricted basis for any charitable purpose.
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
11. Related party disclosures
There were no related party transactions for the year ended 31 March 2024.
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