**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
**QUERNMORE CHAPEL**
**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|
**QUERNMORE CHAPEL**
**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|
Page 1
**QUERNMORE CHAPEL**
**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
Page 2
**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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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: .............................................
Page 3
## **QUERNMORE CHAPEL**
## **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
Page 4
## **QUERNMORE CHAPEL**
## **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
Page 5
**QUERNMORE CHAPEL**
**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.
Page 6
**QUERNMORE CHAPEL**
## **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|
Page 7
**QUERNMORE CHAPEL**
## **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|
||||
||||
Page 8
**QUERNMORE CHAPEL**
**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|
|---|---|---|---|
Page 9
**QUERNMORE CHAPEL**
**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.
Page 10
**QUERNMORE CHAPEL**
**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.
Page 11