Manchester Memorial Charity
Reg. Charity No. 1196852
Report of Trustees and Annual Accounts
Year ended: 31st March 2023
Manchester Memorial Charity Trustees Annual and Strategic Report For the Period Ending 31 March 2023
REFERENCE AND ADMINSTRATION DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS
| Registered Charity Number | 1196852 |
|---|---|
| Head Office and Registered Address | Manchester Memorial Charity |
| PO Box 532 | |
| MANCHESTER | |
| M60 2LA | |
| Trustees of the Charity | Joanne Lucille Roney |
| Fiona Margaret Ledden | |
| The Very Revd Rogers Govender | |
| Warren James Smith | |
| Bankers | Barclays Bank |
| 51 Mosley Street, Manchester | |
| M32 3HQ |
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Manchester Memorial Charity Trustees Annual and Strategic Report For the Period Ending 31 March 2023
OBJECTIVES AND ACTIVITIES
The Manchester Memorial Charity was set up in November 2021.
The Charitable objectives are as follows:
To maintain the Glade Of Light Memorial and Gardens situated next to Manchester Cathedral as a public memorial to all those affected or lost as a result of the attack on Manchester Arena on Monday 22 May 2017.
To maintain the Glade Of Light Memorial and Gardens for the use of the Citizens of Manchester and visitors to Manchester.
The accounts included in this annual report are for a 12 month period from 1 April 2022 to 31 March 2023.
There has been minimal activity in the Fund in this period aside from accounting for the funds currently held by the We Love Mcr - Lord Mayor Of Manchester's Charitable Trust on behalf of the Manchester Memorial Charity.
It is intended that the funds will be transferred to Manchester City Council who will manage the fund on behalf of the Charity.
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Independent examiner's report to the trustees of the Manchester Memorial Charity
I report to the trustees on my examination of the accounts of the Manchester Memorial Charity for the year ended 31 March 2023.
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 2011 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 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 matters in connection with the examination to which attention shoujld be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: J.Hardman Name: Julie Hardman, MAAT CPFA Relevant professional qualification or membership of professional bodies (if any): MAAT CPFA Address: Manchester City Council, PO Box 532, Manchester M60 2LA Date: 30.01.2024
3 Independent Examiner
Manchester Memorial Charity Statement of Financial Activities For the Period Ending 31 March 2023
| Note | Unrestricted funds 2022-23 |
|
|---|---|---|
| 3 | £ 0 0 |
|
| Income | ||
| Donations and legacies Grant Income |
||
| Total Income | - | |
| 4 | 0 0 0 0 0 0 0 0 0 |
|
| Expenditure: | ||
| Raising funds Charitable activities Other: Governance costs Operating Expenses Insurance Miscellaneous Expenses Support Groups Professional Fees |
||
| Total Expenditure | - | |
| Net Income and net movement in funds for theperiod | 0 | |
| Net movement in Funds | 0 | |
| 10,11 | - 0 - |
|
| Reconciliation of Funds | ||
| Total funds brought forward Net movement in Funds Total funds carried forward |
All of the Fund's activities are derived from continuing operations The statement of financial activities includes all gains and losses recognised in the current period
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Manchester Memorial Charity Balance sheet For the Period Ending 31 March 2023
| Note | 31-Mar-23 £ |
|
|---|---|---|
| 6 7 |
442,568 - - |
|
| Current assets | ||
| Debtors Prepayment Cash at bank and in hand |
||
| Total Current Assets | 442,568 | |
| 8 8 |
400,000 0 |
|
| Liabilities: | ||
| Creditors: Amounts falling due within one year Provisions for liabilities and charges |
||
| Net current assets | 42,568 | |
| Net assets | 42,568 | |
| 10 | 42,568 | |
| The funds of the charity | ||
| Unrestricted funds | ||
| Total charity funds | 42,568 |
Signed: J.Hardman
Name: Julie Hardman
Relevant professional qualification or membership of professional bodies (if any): MAAT, CPFA Address: Manchester City Council, PO Box 532 Manchester M60 2LA Date:
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Manchester Memorial Charity Statement of Cash Flows For the Period Ending 31 March 2023
| **a ** | Note | 31-Oct-23 £ |
|
|---|---|---|---|
| Cash flows form operating activities | b | 42,568 | |
| Net cash provided by (used in) operating activities | |||
| - - - - |
|||
| Cash flows from financing activities | |||
| Repayments of borrowing Cash inflows from new borrowing Receipt of endowment Net cash provided by (used in) financing activities |
|||
| 42,568 - - |
|||
| Change in cash and cash equivalents in the reporting period | |||
| Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
| Net income/(expenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation charges (Gains)/losses on investments Dividends, interest and rents from investments Loss/(profit) on the sale of fixed assets (increase)/decrease in stocks (increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities Analysis of cash and cash equivalents Cash at bank Total cash and cash equivalents |
31-Oct-23 £ |
|---|---|
| - - - 442,568 400,000 - |
|
| 42,568 | |
| 31-Oct-23 £ |
|
| - | |
| - |
c Analysis of cash and cash equivalents
The notes on pages 7 to 9 form part of these financial statements
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Manchester Memorial Charity Notes to the Accounts For the Period Ending 31 March 2023
1 Accounting Policies
Basis of Preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice.
This is applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and the Charities Act 2011. The accounts have been prepared in Pounds £ Sterling.
Critical accounting judgements and estimation uncertainty
In preparing these financial statements, trustees have made judgements, estimates and assumptions that affect the application of the charities accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting Period
The first set of financial statements is prepared from 1 April 2022 to 31 March 2023. The Charity was registered with the Charities Commission on 30 November 2021.
Income
Income, including grants, donations and legacies from institutions, corporates, trusts and individuals is included in the Statement of financial activities when the charity is entitled to the income, where the amount can be measured with reasonable reliability and receipt is probable
Goods, facilities and services donated for the charities use, where the benefit is quantifiable and the goods or services would have had to be purchased, are recognised in the financial statements under Donations and Legacies as income (gifts in kind) when received and expenditure when distributed, at a reasonable estimate of their value in the period in which they are received
Grant income is recognised in the Statement of financial activities in the year in which this becomes receivable and when any conditions for receipt have been met
Donated goods and services
Where the charity receives donations of goods and services in kind and where there is a measurable value to the charity which can be ascertained with reliability they are included in both income and expenditure in the Statement of financial activities
Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category
Charitable Activities - Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims
Support Costs - These costs include general management and accounting. Support costs not attributable to a single activity have been allocated on a basis consistent with identified cost drivers for that cost category such as on-line giving fees, professional charges, operating expenses, Insurance and accounting and administration expenditure.
Governance Costs - these costs are associated with the running of the Charity, as opposed to the direct management functions inherent in generating funds, service delivery and programme or project work. These include such items as external audit, legal advice for trustees and costs associated with constitutional and statutory requirements
Grants payable - Grants are recognised in the Statement of financial activities when they have been approved by the Trustees and notified to the beneficiaries
Prepayments
Prepayments are valued at the amount prepaid net of any trade discounts due.
Debtors Trade and other debtors are initially recognised at transaction price and subsequently adjusted, where necessary, for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general charitable objectives. The charity does not have any restricted funds.
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Manchester Memorial Charity Notes to the Accounts For the Period Ending 31 March 2023
Financial assets and liabilities
The charity only has financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.
2 Taxation
The Fund is a registered charity, and therefore is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities
3 Analysis of Income
| Donations and legacies Voluntary Income Grant Income Total Income |
Unrestricted Restricted Total Funds Funds 2022-23 2022-23 2022-23 £ £ £ 0 0 0 0 0 0 |
|---|---|
| 0 0 0 |
- 4 Analysis of Expenditure
| Expenditure : Payment of Grants Other Costs Support Costs Operating Expenses Insurance Miscellaneous Expenses Professional Fees Total Expenditure Expenditure on charitable activities Grants Other |
Raising Charitable Other Total Funds Activities Costs 2022-23 2022-23 2022-23 2022-23 £ £ £ £ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 |
|---|---|
| 0 0 0 0 |
|
| Grants Governance Support 2022-23 Costs Costs £ £ £ £ 0 0 0 0 0 0 0 0 |
|
| - - - - |
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Manchester Memorial Charity Notes to the Accounts For the Period Ending 31 March 2023
- 5 Staff costs and trustees' remuneration
No staff were employed by the Fund during the financial period
The trustees received no remuneration in respect of their services to the fund during the financial period
6 Debtors
| Debtors Prepayments and Accrued Income Trade Debtors |
2022-2023 £ 0 442,568 |
| 442,568 |
Trade debtors represents amounts receivable on grant funding to which the charity was entitled at the reporting date.
7 Cash at bank and in hand
2022-2023 £ Cash at Bank - - 8 Creditors 2022-2023 £ Accruals and Deferred Income 400,000 Provisions for Liabilities 0 400,000
9 Provisions for liabilities and charges Trust Fund Provisions for underage beneficiaries Legal Case regarding grant eligibility
| 10 Analysis of net assets between funds Debtors Creditors Cash at Bank |
General Fund £ 442,568 (400,000) 0 |
|---|---|
| 42,568 |
Related party transactions
- 11 Members and Officers of Manchester City Council (MCC) serve as trustees. The charities transactions with MCC are summarised as follows:
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