Charity registrntion number 1195031 (England and Wales) THE MICHIE FAMILY CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 JUNE 2024
THE MICHIE FAMILY CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trust808 Mrs L Nleld Mr J W Mlchie Charity nurnb•r (England and Wales) 1195031 Prlnelpal addr• 18 The Park Chrislleton Chestèr CH3 7AR Indepondent examlnèr Susan Harris MAACA Champion Allwoods Limited 2nd Floor Refuge House 33-37 Watergate Row Chester CH1 2LE
THE MICHIE FAMILY CHARITABLE TRUST CONTENTS Page Trustees. report Indepe[ent examinerfs report Statement of financtal aetivilies Balan¢9 sheet Notes to the financial statements
THE MICHIE FAMILY CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 20 JUNE 2024 The trustees pSnt their annual retKprt and finanual ststsments for the year gnd8d 20 June 2024. The financial statemgnts have begn praparad in accordance wth the accounting polia&s sèt out In noto 1 to tha financial stslernenls and wmply with thè Irusl'5 goveming document, th8 Charities Act 2011, FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republi¢ of Ireland" and the Charits'es SORP "Accounting and Reporting by Charitses.. Stalement of Recommended Practice applicable to charittes preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republi¢ of Ireland IFRS 1021" Oblect5ves and actlvltl8s In accordan with the Trust D88d, th& fvnd is held for the Trustees lo distribute in their discretion.. To prevent and relieve poverty amongst people, in particular but not exdusively to those Iwing in the North West of England., To 8(fvanc8 the education of the public, in p8rti¢ul8r but not 8xduslv8ly to those Ilvlng in tha North West of England,. To advance heatth and safety ol lives. in partKular but not exclusvely to those living in the North West of England. Public benerrt The trustees confirm that thèy hav8 complied with the requirements of soction 4 of thè Ch8riti$s Act 2011 to have due r8gard to thg public txnefil guidanc8 publlshed by the Charity Commisslon for England and Wales. Flnanelal rnvl•w Net incoming resources for the year were £49,696 {2023". outgoing £12,363>. Totsl unrestricted funds carried ft)Thvard as 8120 June 2024 were £177,43912023.. £107,743). Structurè, govèmane• and manag•m•nt The Charity is controlled by its goveming dooJmenL 8 De ofTru81, and conslilutes an unincorporated Charity. The trustees who servgd durtng th$ ye8r and up to the d8t8 of signature of the financial statements re.. Mrs L Nield Mr J W Michie Fundlng The Trust will continue to support projects in line with its objectives and poli(xes. The Trustses are satisfied that the Trust's assets are available and adequat8 to fulfil its Obltions relating to those fijnds. The trust89s' retK)rt was approved by the Board of Trustees. Mrs L Nield Mr J W Michie Tru$t¢• l.Lloll.¥......
THE MICHIE FAMILY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MICHIE FAMILY CHARITABLE TRUST I report to the trustees on my examination of the financial statements of The Michie Family CharilBble Trust (the trustl for the year ended 20 June 2024. Rèsponsibilities and basls of report As the trustees of the trust you are responsSble ft)r the preparation of the financial statements in accordance wllh the requirements ofthe Charities Act 2011. I rgport In respect of my exarnination of the Irust's financial statements carried out under section 145 of the Chartties Act 2011. In carrying out my examination I have followed the Dire¢tlons glvèn by tho Charity Commission under section 14515Hbl of the CharitiesAct 2011. Independent oxamln8Vs stat•m•nt Your attention is drawn to the lact that the charity has prepared the financ4al statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their finan¢i81 ststements in 8ceordance wth the Financial Reporting Standard applicable in the UK and Republic of Irel8nd IFRS 1021 in pr8f8r8nce to the Accountsng and R8PQrtirJg by Charib"es.' Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdfawn. l understand that this has been don& in ordar for the financial s18tèmants to provid8 a tru8 and fair VI in a¢¢xYdancg With UK Generally Accepted A¢¢ounting Practice. I have complet8d my gxaminallon. l eonfim that no matters have o)m8 lo my attenlw)n in connection with the 8xamin81ion giving me cause to believe that in any material respect.. accounlng rerdS were not kept in respect of the trust 85 required by section 130 of the Charities Act 2011. thè financial ststements do rt a(xth with those records", or thè fin8ncial ststements do rt mPlY wth the applicable reqUirnents conceming the fom) and contènt of financial statements set out in the Charities IAccounts and Reports) R8gulation5 2008 othar than any requirement that the financial stat8m8nts gfve a tru8 and fair ¥&w. which is not a matter nsIdered 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 rewrt in ordèr to 8nab a propor urmjorstanding of the financial statements to be Ched. Susan Harrls MAACA Ch8rnpion Allwoods Limited 2nd Floor Refuge House 33-37 Watergate Row Chester CH1 2LE Date..
THE MICHIE FAMILY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 20 JUNE 2024 Unrostricted funds 2024 Unr•strletsd funds 2023 Nots$ Incom8 from: Donations and legaci6S Invgstmants 80,000 317 20.000 184 Totsl Incoffle 80.317 20.184 ExndIture on.. Char*tabl8 8Ctivities 30,621 32.547 Total •xnditurO 30,621 32.547 Net Incomal{•xpondltur•) and mov•m•nt In fund$ 49.696 112,3631 Reconciliation ol funds.. FL•rid balances at 21 June 2023 127,743 140.106 Fund balances at 20 June 2024 177,439 127.743 The ststemènt of fin8n¢lal 8dlvilies indudes all gains and losses recognised in Ihg year. All income and expenditure derive from continuing activities.
THE MICHIE FAMILY CHARITABLE TRUST BALANCE SHEET ASAT20 JUNE 2024 2024 2023 Current assets Cash at bank and in hand 179.959 130.383 Crèditors: amounts fallln9 due wlthln one year 11 12,5201 12.6401 Nel current assets 177.439 127,743 Incoma funds Unrestricted funds 1TT,439 127,743 177,439 127.743 The financjal statements We approved by tha Tru$te&s on .. Mis L Nield Trustso Mr J W Michie Trusts
THE MICHIE FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 JUNE 2024 A¢countlng pollclès Charlty Inforniatlon The entity is ragislered as a charity in England and Wales. Thg address of the charity, th8 nature of its oper8tions and its principal activities are all detailed in the Trustees, report arml charity admlni8lrat*ve detalls i these financial statements. 1.1 A¢countln9 conv8ntlon The financial statements have been prepared in a¢(x)rdan with the Irusfs gov6ming document, the Charttsès Act 2011, FRS 102 The Finanual Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102.1 and the Charities SORP "Aco)unting and Reporting by Charilies: Statement of Recomm8nded Practice applicable lo charities preparing their accounts in accordan with the Financial Reporb'ng Stsndard applicable in the UK and Republic of Ireland IFRS 1021" leffectivg 1 January 20191. The trust is a Public Benèfrt Entity as defined by FRS 102. The trust has taken advantagg of the provisions in the SORP for chariti88 riot to prepare a Statement of Cash Flows. The financi81 ststements arè prep8red in sterling. which is thè fvn¢tional currèncy of the trust. Monetary amounts in these finandal statements are rounded lo the neargst £. The financial ststements have been prepared urkyer the historic81 cost convention. The prin(ipal accounting policies 8dopted are set out below. 1.2 Going cone•m At the time of approving the financial slatements, the Irust88s have a reasonable expectslion that the trust has adequate resources lo conts'nue in operational exist8nce for the foreseeable futvre. Thus the trustees continue lo adopt the going concam b8sis of accountin9 in prepartng the financial stslernents. 1.3 Charitable funds UnroStriGled funds 8re availablg for use at the dSs¢Tetion of the trustees in furtherance of their charitable objectives. 1A Incom• Income is recognised when the trust is legally entit16d to it after any performance oJrKlitions h8ve been m81, thts amounts ran measured reliably, and it is probable that in¢orne will be received. Cash donations are recognised on receipt. Other donations are recognlsed once the trust has been notified of the donation. unless perfomiance conditions wuire deforral of the amourrt. 1.5 Exponditure Expenditure Is recognlsgd once there 18 a legal or constructfve obligatlon lo transfer economic nefit lo a third party, it is probable that a transfer of economic benèfits will be rgquired in settlement, and thg amount of the obligation can be measurèd reliabty. Expenditure is Classified by activTrty. The costs of each activity are made up of the total of di costs and shared costs. including support costs involved in tjndertaking each activity. Dirgct costs attributable to a single activity are allocated directly to that aclwity. Shared costs which contribute to more than on8 activity and support costs which are not attributable to a SFngle actiwty are apportioned belw89n those aclmlies on a basis consistent with the use of i8UrCeS. Central staff costs arg allocated on the basis of lime spent, and dgpreciation charges are allocated on tho portion of the assefs use.
THE MICHIE FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 20 JUNE 2024 Accountlng pollcles {C0ntlnuedl 1.6 Cash and eash ¢quival•nts Cash and eash equivalents include cash in h8nd, deposits held al call with banks. other short-tèrm liquid inv&stm8nts with original maturiligs of three months or less. and bank overdrafts. Bank overilrafts are shown wlhin borrowings in current liabilities. 8a$i¢ Iln4nclal ats B851¢ financial assets, which indude debtors and cash and bank balances, are initially measured at transaction pricè induding transaction costs and are subsequenuy carried at amorbs8d cost using the eff8Ctive int8r8sI method unless the arrangement constitvles a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market Tate of interest. Financial assets classified as receivable within on8 yoar are not amortised. Bask flnanclal Ilabllltles Basic financial liabilities, including creditors and bank hmns are initially recogntsed 8t tr8ns8cti¢)n pric9 unless the arrangement constitutes 8 fin8n(#ng transaction. where the debt Instrument is measured al the present V81uè of th8 fulurg payments discounted 8t a markgl rate of inteTesl. Financial liabilities dassified as pay8b18 thin one year are not amortiS8d. Dabt instrumènts are substyuenlly carrled al amortised cost, using the effective interest rate method. Trade editOrS are lIgationS to pay for goods or s6Nces that havo acquired in the ordinary course of operations from suppli&rs. Amunts payabte are cL8&sthed as current liabilities if payment is due wrf£hin one year or less. If not. they a presented as non-¢urrent li8bilFti'es. Trade creditors are recognised initsally at transactlon price and subsequently measured at amortised cost using the &ff8ctfv8 Intsrgst fftethod. Dw8eognltlon of Ilnan¢lal liabilttles Finanaal liabiliti8s 8rè ¢Jere(wnised when the trust's contractual obligations 8Xpl or are dis¢harg&d or ¢an¢ellgd. Crltleal aeeountlng o$1imates and Judgements In the appllcation of the trust's accounting polictes. the trustees are wuirgd to make judgements, estimates and assumptions about the carrying anw)unt of assets and liabilits6s that are not readity appaTent from other sources. The esb'mates and asso¢iated assumpbon$ are based on historical experience and other fadors that are consideied to be r91evanl. Actual results may differ from these estim8t•s. Thtr estim8tes and underlying assUMptnS are revttiwed on an ongoing basis. Revisions to 8ccounting eslimales are recognised in the perf1 In whh the estimate is revised Wha the revision affects onty that periixl. or Fn tho peri(xl of the revision and fvlure periods whgre the revision affects both currènt and fvture peri¢xls. Incom• from donations and legacie Unr•strlctsd Unrestrlcted funds funds 2024 2023 tlonations and gtfts 80,000 20,000
THE MICHIE FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 20 JUNE 2024 Incom& from Investments UnTestri¢ted Unrestrlcted fund¥ funds 2024 2023 Int8rest re¢eivable 317 Expgndituro on charitable o¢tiviti•s Charitable actlvltlas 2024 Charitable actlvltlès 2023 Dir•et costs Grant funding of activities (see note 6) 28,035 30,500 Share of support and governance l$ee note 71 Support Govemance 67 2.520 727 1.320 30,621 32,547 Analysls by fvnd Unrestricted funds 30.621 32,547
THE MICHIE FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 20 JUNE 2024 Grants payable Charltabl• activities 2024 Charitable activitles 2023 Grants to in$lilUl$'. Pantry for Blacon Circus Starr Riveracre Valley Prim8ry School Salvation Army The Uniting Church The Arches Community Sl Mark's Church Live Laugh Lache Friends of Lach8 starr in the Gommunty Priority Youth Proj8ct Holy Trinity PC Rescare Woodwork to Wellness Weaver Trust- Westsninster PS 1.500 1.21YJ 5.OLKJ 1,500 2.000 g.ooo 5,000 5,000 5.000 3,000 5,200 3,000 4.135 5.000 28.035 30,500 Support costs allocated to activities 2024 2023 Bank charges Wgbsite costs Govemanco costs 67 71 656 1,320 2.587 2.047 Analys•d b•18n.. Charitable activities 2,587 2,047 2024 2023 Govemance costs comp¥l¥e.' Ind8pèndent OX8mination foes Accountsncy 1,320 1,200 1,320 2,520 1,320
THE MICHIE FAMILY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 20 JUNE 2024 Net movement In funds 2024 2023 Tho not movement in funds Is stated after ¢hargIn(credItIngl'. Fees payabl8 for the independent examinaOn of the charity's financial Statements 1,320 1,320 Trustg None of the tnjstees lor any persons connected with them) r1V8 any remuneration or beneffts from the trust during the year. 10 Taxatlon The charity is exempt from tsx8tion on ils actiwtie5 bec8usg all its income is applied for thaTilable purposes. 11 Creditors: amounts falling du• wlthin one year 2024 2023 Accruals and deferred income 2.520 2,640 12 Unrestricted fund$ The unreslrictsd fijnds of the charity comprise the unexpende(I balan¢9$ of donations and grants which a not subject lo spo¢ifi¢ conditions by donors and grantors as to how they may be used. indude designated fvnds which have been set askje out of unrestricted funds by the trustees for specific purF*)ses. At21 Juna 2023 Incomlng r•sourtss Resources xpondod At20 June 2024 Ganeral funds 127.743 80.317 130,621) 177,439 Previous Year. At 21 June 2022 Ineomlng reUrceS Resources exponded At 20 June 2023 General fvnds 140.106 20.184 132.5471 127.743 13 Related party transactions During the year, the trust re¢eiv8d unconditional donations from Trust of £80.l2023: £20,000).