Ch•rlty regl$tratlon number 1198833 Company r¢glstra*lon numbor 13877812 (England •nd Wal9$1 THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2023
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) LEGAL AND ADMINISTRATIVE INFORMATION Trust••s JHCOX CECOX PACOX JMDOY H M macke1$ J V Mathey AG Morgan IAppolntèd 28 J8nu8ry 20221 (Appointed 28 January 20221 (Appointed 28 January 20221 IAppoinl8d 28 January 20221 (Appoinlod 28 January 20221 (Appolnted 28 January 20221 (Appointed 28 January 20221 Charlty numb8r 1198833 Company number 13877812 Regl¥tered offlce Mary & Josgph House 217 Palmerston street Ancoats Manchester M126PT Audltor Royce Peeling Green Llmlted The Copper Room Deva City Office Park Trinity Way Manchester M3 7BG
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) CONTENTS Pag• Trust8&s' rgport Independent auditorfs report Slalernent of financial activitie3 88laneè sheèt Notes lo the finanrAal statements 8-15
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE PERIOD ENDED 31 JANUARY 2023 The Irusiees pr858nt thèlr annu8 rgPQrt and financial statements for Iha pariod andgd 31 January 2023. Tha financial slalements have been prepared in accordanc8 with the accounting policies set out Sn not& 1 to th$ rinancial siatemenls and comply wlh the charfty's memorandum and articles ol assocSallon, thè Companie5 Act 2006, the Charities Act 2011 and "A¢¢ounling and Reporting by Charities.. Statem8nt of Recornrnended Practice applicable to chariti85 pr8P8ring their accounts in accordance wlh ihe FSnanci81 Reporting Standard applicable In the UK and Republic of Irgland IFRS 1021. (effective 1 January 20191. Objectives and actlvltles Th8 Charity w8s incorporated on 28 January 2022 and undèrtook no activllies until 1 November 2022. at whlch point il look over the activities ol the unlncorporatèd Joseph Cox Charity. The Irusle8s dadded that 8 company limited by guarantee is a more usual vehide for ¢8rrying out the chafitable activitles. The Joseph Cox Charity provides accomrnodalion and care for the hixneles8 al Mary and Joseph House. Palmgrston Street, Ancoals, Manchester under a Management Agreemènt with Contour Housing Assoclation. Thè Charity also assi315 in the operation of a house for homalèss youn9 people al 69 Palats'ne Road, Manch8St8r In conjunction with The De Paul Trust. The Direetorsl Trust888 continue lo look for opportunltles for helping the homeless. The trustees have paid due regard lo guidance issued by th¥ Charity Comrnission in deciding whmt activit188 the charity should undertake. Achl•vèmènts and p•rfomion¢• Flnanclal rovl•w Total operational Income comprfslng venue from loc81 authorities arnounted to £407,717. In addition other income lolaled £2.620, Includlng Incom& from invèslmenl$, giving total incoming resourees of £410,337. Resourcès 8xp8nd8d con81sled of direct charitable expenditure of £391,401, 6Xperllure relats'ng lo raising funds ol £511 and governance costs of the charity of £9,440 givlng total resourcès expended of £401,352 and net Sncomlng resources for the period amounting lo £8,985. Aft9r Investmanl galns amountlng to £21,274 and foreign exchange gains amoUnn9 to £44 the nel increase in funds for tha pariod 8mounled to £30,303. Structure, governance and managem•nt The charity is a cornpany limited by guarantee. The objects of the charity Sn accordance wlth the charitys Articles of Association, are to relleve. In Cases of need, hardship or distress. parsons In naad of a$8l$t8ncg by reason of poverty or age or infirmlty. The Irusleey, who are also the directors for the Purpose of company law. and who Served during the perfod and up lo the dale of signature of the financ4al statements were.. JHCOX CECOX PACOX J M Doyle H M Mackenae J V Mathèr A G Morgan (Appolnted 28 JanuBry 20221 (Appointed 28 January 20221 (Appointed 28 January 20221 (Appolntèd 28 January 20221 (Appolnted 28 January 20221 (Appointed 28 January 20221 (Appointed 28 January 20221 None of the trustees has any beneficlal interest in the company. Al of thg trustees are members of thg company and guarantee to contribute £1 in the event of a winding up.
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2023 statement of trusteès, responslbllStles The trustees, who are also the directors of The Joseph Cox Charity (fomierly The Joseph Cox Organlsallon LimStedl lor the purpose ol company law, are responsible for preparing the Trustees, Report and the flnanei81 statèments In accordance with applicable law and United Kingdom Accounting Standards Iunlted Klngdom Gener8lly Accepted Accounting Practlc81. Company Law requires the truste88 to Prepare financial 8tstemenls for each financial year whlch give a true and falr view of the stale ol affair5 of the charrty and of the incoming resources and applicauon of resourcgs, Includlng the income and expenditure, of the charitable company for that period. In preparing thastr fin8ncial statements. the trustees are requlmd to: select suitable accounting policie8 and then apply them consislenlly., . observe the methods and princAples in the Charities SORP., make judgemènts and estlmates that are reasonable and prudent.. Stale whether applicable UK ACCOUnng Standards have been followed, subject lo any material daparturgs disdosed and explained in the financial statements- and prèpare the financlal statamènts on the golng conc&m basls unlass It Is Inappropri8tè to presurne that the charity wlS1 contlnue In operatlon. The Iruslees are re5pon51ble for keeping adequate accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial statements comply wlth the Companles Acl 2006. They are also responsible for safeguarding the assets of thè eharfly and hen¢e for taking asonable steps lor the prevenlon and detecllon ol fraud and other Irregu18ritiès. Audltor In ac¢ord8ncs wlth thb ¢omp8nls 8rfjclès, a rasolLbtion proposlng that Royce Peeling Green Limited be reappointed as auditor of the company wll be pul al a Gener81 Meeting. Th& trustees, report was approved by the 8oard of Trustees. JHCOX Trust D810'.
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) Oplnlon We have audlted the finandal statemènts of The Jos8ph Cox Charity {formerly The Joseph Cox Organisalion Llmlte(11 Ithe'charity'l for th6 poriod gndod 31 January 2023 which comprise the statement of financial actSvities, thè balance sheet and notes to the financial slaternents, including slgnlficant accountSng polici8s. The financial rgporting framework that has been applied in their preparation is appllcable law and Unlted Kingdom Accounting Standards, incjuding Financial Reporting Standard 102 The Financial Repon9 Stond8rd appliGablg in thg UK and Republic of Ireland (United Kingdom General Accepted Accounting Practic91. In our opinion, the financial stalemenls.. give a Irug and fair viow of tho stal$ of the charitsble compangs affairs as al 31 January 2023 and of Ils incoming resources and application of resources, for the period then ended.. have begn properly Prgpared in accordance with United Kingdom Generally Accepted Accoundng Prade8', and h8v8 bèèn prèp8r8d in accordanca wf(h tha r8quirements of the Companies Act 2006 and the CharStles Act 2011. Basls for oplnlon We conducted our audit In accordance with International Standards on Auditing IUKI (ISA8 IUKII and applicable law. Our responslbllltles under those standards are further dèscrib8d in thg Audilorfs rssponsibilities for the audit of fho finBncNal sl&lemeftts section of our report. We arè indepgndent of the charity in accordance wlh the ethical r8quirem8n15 that arg relevant lo our 8udit of the financial slalements in the UK, including the FRC'S Ethlcal standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Wè b81i8v8 that the audit evidence we have obtained is suffKient and awopriate to provide a basls for our oplnlon. Con¢luslons r•latlng to golng tone•m In 8udStlng the flnanclal statements, we have concluded th8t the Irust9e3' u8e of the going concern basis of accountlng in the preparatltsn of the financial statements 1$ 8ppropriale. Based on thg work we havg perfomied, w9 hav9 not identified any material uncertainties reloting to events or conditions that, individually or collect¢vely, may cast significant doubt on the charity's ability to continuo 8$ a going concrn for a period of al least e1ve months from when tha fin8nci81 stat8m8nts ar9 8Uthorisgd for Issue. Our respon5ibiliti8s and thg f98pon3ibilitlgs of thg tru8tee8 with respect to going concern are described in tha relevant seEtion3 of this report. Othèr Informatlon The other infomialion comprise8 the information included in th8 annual report other than tha finanoBI statemgnts and our audilo¢s report thereon. The trustees are responsible for thè othar information contsingd within the annual report. Our opinion on th& flnancial statements does not cover the othar information and w8 do not express any fomi of a88urance conclusion thareon. Our responsibility is to re8d thg Qther inforrnalion and, in doing so, consider whether thè othèr infortn8tion is m8trially Inconsistant with the financial statements or our knowledge obtained in the course of the audit, or othgrwise appears tts b9 materially misstated. If we idenlrfy such material inconsistencies or apparent material rnisstalemgnls, we are requlred to determine whether this give5 rise to a material mlsstatem8nt In the financial slalernenls th8mselves. If, based on the work we have perfomied, we concludo that thère Is a matarlal misstatement of this other information. we are required to raport that fact. We hav0 nothlng to port In thls ragard.
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) Matters on whlch we arg requlred to report by exceptlon We hav8 nothing to r8POrt in resp8¢t of th8 followng matters in felalion lo which the Charities (Accounts and Report81 Regulation8 2008 require us lo report to you if, in our opinion.. the infomation given in the financial stalernents is inconsistent in any material respect with the trusteos, report,. or sufficient a¢¢ounting r&¢ord$ hav• not bgèn kopt., OT the finanaal statements ar8 not In agreement with th$ aecountlny r8coriJ8- or we have not received all the infomialion and explanations we requlre for our audlt. Responsibiliti•$ of tru$tee$ As 9xplained mor8 fully in the 5181emenl tsf trust88s' responsibilities, the Iruslees, who are also the directors of the charity for the purpose of company law, are responsible for the preparaliori ol the financial slatemenis and for being 8alisfied that they give a true and fair view, and for 3uch intemal control as the trustees determine Is necessary to enable the preparation of financAal statements that are free from material mSsstatement, whether du8 to fraud or error. In preparing the financial slatemenls. the trustees are responsible for assesslng th8 charity'5 ability lo continue as a golng COnrn. dlscloslng. as appllcable, matters rglated to going eon¢9¥n 8nd using th8 going ¢onc8rn bas18 of accounllng unl988 thg trust888 8khgr Intend lo Ilquidale the charitable company or to cease operations, or have no realistic allernalive bul to do so. Audltorfs rgsponslbllltl•s for th• audlt of th• flnanelal stat•m•nts We have been appointed as auditor under section 144 of the ChariUes Act 2011 and report In accord8n¢e wlh the Acl and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole free from material misslalernenl, whether due to fraud or error, and to issue an auditorfs report that includes our oplnlon. Reasonable assurance is a high level of assurance but is not a guarantee that an audk conductod In accordance wlth ISAS IUKI will always detect a material misstatement when It axlsts, Mlsstatèmènts can arise from fraud or grror and are considered matèrial If, individually or in the aggrègÈt8, th8y could r6agonably b8 exp8cled lo influence Ihg gconomie dècislons of usars takan on thè basls of thèsa flnancial stalgments. Tha extent lo whlch our Procedures are capable of detecting Srregularfties. Includlng fraud, 1$ d8ts118d b911)w. At the planning 8ta98 of the aud(( we gain an undgTStanding of the laws and regulations which apply io the omp8ny and how rnanagernenl seek lo comply with them. This helps us lo make appropriat8 sk a5s8ssmenls. We focus our work on relevant risk areas and Tev¢ew compliance with laws and regulatSons through maklng relevant enqulrtes and corroboration by. for example, reviewing Board Minutès and othèr do¢um8ntatltsn. Wa ass&ss the rlsk of m8tarlal mSsstatèm&nt In th8 financlal statefflgnts including a3 a result of fraud and undèrtakè pmcèdur8s such as.. Review of wntrols sgt in place by man8gem9nt Enquiry of management as to whether they consider fraud or other irregularities may have occurred or where such opportunity might exist 11. Challenge of management assumptions vrith regard lo accounting estimates 111. Identification and lesling ol journal entries. particularly those which may appear to bg unu$u81 by s9 or nature. Because ol the inherent limitation8 of an audit, there is a risk that we will not delecl all iTregukTilies, including those lèading lo a material misslalemenl in the financial statements, or non-compliance with regulation. Thls risk Incr8ases the more that compliance with a law or regulation is removed from the events and transactions reflected in thè financial statements, as we are less likety lo become aware of instances of non-compliance. The risk is al80 greater regarding irregularities occurring due to fraud rather than error. as fraud involvgs intentional concealment, forgery, collLJSiOll, Omission or misr8presantatlon.
THE JOSEPH COX CHARITY {FORMERLY THE JOSEPH COX ORGANISATION LIMITED) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) A further description of our responsibilities is available on the Financial Reporting Coundl's wèb&te at.. https'.11 v4w.frc.org.uklauditorsresponsibililies. This description forms part of our auditor's rewrt. Use of our report This report 13 made 301ely lo the charity's trustees, as a body. in accordance with part 4 of thè Charitles IAccounl$ and Reports) Regulations 2008. Our audit Work has been undertaken so that we mlght state to the charity's trustees those rnalters we are required lo state to them in an audltoffs report and for no othgr purpos9. To the fullest exlenl permitted by law, we do not accept or assume responslblllty to anyon8 Oth9r than the charity and the charity's trustees as a body, for our audlt work, for this report. or fr)r th¢ opinions we have fomied. Martln Chatten (Senlor Statutory Audltorl for and on behalf of Royce Peellng Green Llmlted Chartered Accountants StatutoryAudltor Thè Copper Room Dèva Clty Offic8 Park Trinity Way Manchester M3 7BG Royce Peeling Green Limited 18 eligible for appointment as auditor of the charlty by vlrtuè of its 81igibility for appointmgnl as auditor of a company under section 1212 of the CompBnl8s Act 2006.
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 JANUARY 2023 UnMstrlct•d funds 2023 Notes Income from: Charitsble a¢tivilie3 Invastments 408,884 1,453 Total Incom• 410,337 Expgndlture on.. Raislng funds Charitable activities 511 400,641 Total expenditure 401.352 Net gains on investments 21,274 Net income 30.259 Tr8nsf8r ol undartan9 1,142,463 other recognised gains and lo¥ses'. Other gains 11 Nèl movèmont In fvnds 1,172,766 Reconclllatlon of fLrnds: Fund balancgs at 28 January 2022 Fund balances at 31 January 2023 1.172.766 The statement of financial activitSes Includas all galns and lossas r8cognlsad In the POTiod. Al income and expenditurè darlv8 from contlnulng actlvltlès.
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) BALANCE SHEET AS AT 31 JANUARY2023 2023 Not•$ Flxgd assotl Tanglbltr assets Invèstmgnt$ 12 13 322.740 415.741 738,481 Curront as$ets Dgbiors Cash at bank and In h8nd 14 22,734 496,742 519,476 85,191 Credltors: amounts falling due w5th1n one year 15 Nat current assets 434,285 Total ass•tg less current Ilabi15tl•s 1,172,766 The funds of th8 eharity Unrestricted knnds 1,172,766 1,172,766 The company is entitled to the exemption frorn the audit requirement contalnad In s8ctlon 477 of th8 Cornpanies Act 2006, for the pariod •nd8d 31 January 2023, although an audlt has bèan ¢arrigd out Under section 144 of the Ch8rfties Acl 2011. The trustees acknowledge thelr responslbillties for complylng with the requSraments of Ihg Compani98 Act 2006 with raspect to accountlng records and the prepayalion of financlal statements. These financlal ststemgnts havg bggn pr9parsd a¢ix)r(lance with the provisions applicable to companl8s sublact to the small companies r8gimg. Th8 flnancial statements were approved by the Iruslees on . JHCOX Trustee Zo¥* Company ragistratlon numbar 13877812 (England and Walasl
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUAR Y 2023 Accountlng pollcies Charlty Informatlon The Joseph Cox Charity Ilormerly The Joseph Cox Or9anisation Limitedl is a private company limited by gu8rant99 in¢orpor8tgd in England and W8198. The registered office is Mary & Joseph House. 217 Palmerston 3lreel, Ancoats, Manchestgr, M12 6PT. 1.1 Rgportlng porlod The charity was incorporated on 28 January 2022 and these finanaal statements themfore cover a pèrfod frorn 28 January 2022 10 31 January 2023. 1.2 Ac¢ountlng convgntion The financial ststements havè baen prepared In aceord8n¢g with the charitl8 memorandum and articles of 8ssociation, the Cornpani85 Act 2006, FRS 102 'Thg Financial Reportin9 Standard applicable in the UK and Republic of Irg18nd I'FRS 102,1, the Charitigs Act 2011 and the Charits'es SORP 'Accounting and Reporting by Charities.. Statement of Recomrn8nded Practice applicable lo charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and R6public of Iral8nd (FRS 1021" (èffective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity ha8 taken advantage of the provi8ions in the SORP for charities not lo prepare a Statement of Cash Flows. The Ilnancial statements are prepared In sterllng, vthleh Is the funetion81 Curr9n of the charity. Monetary amounts In these flnancl81 st8tèm8nts 8re round8d to the n88resl £. The financial statements have been Prepared under the historical cost convention. Thtr princip81 accountin9 policies adopted are set out below. 1.3 Going concern At the time of approvlng the flnanclal statements, the trustèas hav8 8 rga50nable expeCtaton that the charity has adtsquats r8soure9$ to ConnUe In operalonal astenCe for the foreseeable tulure. Thus the irustees continue to adopt the going concern basis of accounting in preparing the finanaal statements. 1.4 Charftable funils Unr85trictad fijnds are av8I18blo for u$9 at thg dlsvellon of the trustees in futherance of their charitable objectives. Reslricled funds arg subjed to spe¢lfic exjndlllons by donors or grantors as lo how they may bo usad. Th8 purposes and uses of the reslricled funds are sel out in the notes lo the financlal statements. 1.5 Income Incom8 is rg¢ognlsad whgn thg ¢harity is legally èntit18d to it after any perfoTrnance conditions have been met. the amounts can bg measured reliab, and it 1$ probable that income will be receNed. Cash donation3 are rgcognisgd on rgceipt. Other donations are recognised once the charity has been notified of the donation, unless performance condition8 require deferral of the arnount. Income tax r6eoverable In ralation to donations received under Grft Aid or deeds of covenant is recognised at the time of the donation. Logacies are recognised on receipt OT otherwise if the charity has been nots'fied of an impending dlstrlbutlon, the amount is known, and receipt is expected. If the arnount is not known, the legacy is tr88t$d 88 a conting&nt asset.
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY2023 Accountlng pollcl•8 {Contlnu•dl 1.6 Expendltur• Expenditure is recognised on¢e the Is 8 legal or eonstructiv8 obligation to t¥ansfer econornic benefit lo a third party, It is probable that a transfer of economic benerrt5 will be requirgd in sottl&monL and the amount of thè ol98t10n can be measured reliably. Expenditure 1$ classlfied by actSvity. The costs of each adivity are made up of the total of direct costs and 3hared costs, including 5UPPOrt costs Involved In undertaking each activity. Direct costs attributable lo a single activity are allocated dIreY to that aetlvity. Shared costs whlch contrfbute to more ihan one activity and suppori costs which are not allributable lo a 8ing19 acliwty arg apportioned between thosa actlvlfjes on 8 basls conslstent with the use of resources. Central staff costs are allocated on the basi8 of lime 8penl, and dgpr9cig1ion thar9ès arè allocated on the pOrtn of the asset's use. 1.7 Tangible fixed ass•ts Tangible flxad assets are initially measured at cost and $ub38quently mèasuréd at cost or valuation. nèt of d8pr8elation and any impairment losses. Depreci81ion is recognlsèd so as to write off the cost OT valuation of assets less their residual values over their useful lives on the following b8$aS'. Freehold13nd and buildings Leasghold improvemènts Equlpment, rtureS and fittings Motor vehicles Not depreated 5% reducing balance 20% Tedu¢ing bal8nc8 25% Tg(lucing b8lancg The gain or loss arising on the disposal of an a539t is dgt8Trnin8d as th8 dlffarance bètwaen the sale procaads 8nd the Carrn9 value of the asset. and is recognised in the statement of financial activiti9$. 1.8 Fix•d asset Invostments Fixed asset investments are initially me8$ursd at trans8etlon prfe8 8xcludlng Iransactlon cosls, 8nd are subsequently measured al fair value al each reporting dale. Ch8ng8s in falr valuè 8rÈ rècognlsad In net incomtrllèxp8ndhture) for the year. Transaction costs are expensed as incurred. 1.9 Impalmiènt of flx•d assets At each reporting end date, the charity rewgws thè c8rying amounts of Its tangible assets to dètemlne whèther there is any indication that those assets have suffered an impairTn8nt loss. If any such IndicaOn exists, the recovorable amount of thg asset is estimated in order to delerrnin8 the extent of the impairment loss lif any). 1.10 Cash and ¢a$h •qulval•nts Cash and cash equivalents Include cash in hand, deposits hekl al c811 wlth banks, oth8r short-tem Ilquld invgStm8nts with orlglnal maturfties of three months OT less, and bank overdrafts. Bank overdr8fts are 8hown within borrowings In current Ilablllues.
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE PERIOD ENDED 31 JANUARY2023 Aecountlng pollcles {Contlnuedl 1.11 Financial instrum•nts The charlty has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its finanaal Snstruments. Financial instruments are recognis8d In the charitys balance sheet whèn thè charity becomes party to the contractual provisions of the instrument. Flnanci81 assets and Ilabillties are offset, with the net amounts presented in the financial 8talernents, when ther8 18 a18gally enfor¢eable rlghl to set off the recognised amounts and there is an intention to settle a nel basis or lo realise the asset and settlg thg liablllty slmultaneously. Ba¥1¢ Ilnanclal assets Basic linanual assets, which indude debtors and ¢a$h and bank balan¢•$, arè Initlally mè8sur8d at transaction price including transaction costs and 8rg 3ub8equently carried al amoTti8ed c051 u8ing th8 8ff8Ctiv8 Inter8st method unless the arrangement constitutes a financing transaction, where the transaction is Tneasured al the presgnl valuè ol tha future receipts discounted at a market rate of interest. Financial assets classified as receivable wlhin one y88r arè not amorbsed. Ba$1¢ flnaftcl•l Ilabllltl•s Basic flnancial Ilabilits'8s are initially recognised al Iran$8Ction Price. Flnan¢ial liabi1111g$ classhlèd as payablè withln Dna year are not amortised. Trade creditors are obllgations to pay for goods or services that have been acquired in the ordinary course of operations from suppli8r8. Amounts payable are classlfied as current Ilabillties if payment is due within one year or less. If not. they are pre8ented a$ non-currgnt liabiliti¢s. Trade ¢roditors are recognised inltlBIIy 8t transactlon price and subsequently measured al amortised c081 using the effedivg illteresl m9thod. Derecognltlon of Ilnanelalllabllfths Financial liabl1&S ara derecognlsed when the chaTty's contractual obligation8 expire or are discharged or cancelled. 1.12 Employ88 b•nellts The cost of any unused holiday gnullgmgnt Is rg¢ognlsèd In tha pèrfod In whlch the employee's servlcas are recelved. Termln8tlon bènefrts aro fecognised immediately as an expen8e when the charity is demon81rabty comrnitie(I to terrninate Ihg employment of Mn •mpk)yee or lo provide temiinalion benefits. 1.13 R•tlromont beneflts Payments lo defined ronlrfbutlon wUrement benefit schemes are charged as an expense as they fall due. Trnnsf•r of undortaklng Following approval by tha Charfty Commission. the Iruslees of The Joseph Cox Charity passed a resolution whereby from 1 Novemb8r 2022 the actSvity and assets of the Trust would transfer to a newly incorporated vehicle. The trustees decided that a company Ilmlted by guarantee is a more usual vehlcle for carrying out the charltable actSvllies. 10
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2023 Incorne from ¢haTit•blg a¢tiviti•J Unrestricted funds 2023 Income from local authorities Other rental income 407,717 1,167 408,884 Incomè from Inv•sthionts Unrestricted funds 2023 Income from listed investmgnts Intèr8$1 rwlvablg 523 930 1,453 Expgndlturn on ralslng funds Unrestrl¢t•d fvnds 2023 Investment management 511 11
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2023 Exponditurg on ch•ritabl• activitig 2023 Dlrnet eosis Staff costs Depreciation and impairment Oth&r care Services 289,329 6.168 95.904 391,401 Share of support and gov•rnanc• costs Governance 9,440 400,841 Analysls by fund Unreslricled funds 400,841 Trust•es None of thè trust88s lor any persons connected with them) received any remuneration gr b8nefils from the ¢harily during the period. Employè The avèrage monthly number of ernployees during the period was.. 2023 Numb•r Total 39 Employm•nt costs 2023 Wages and salarfes Social security costs Pension ¢03ts 260,849 22,843 5.637 289,329 Thè numbar of 8mploy88s has b88n 8vèrag8d for the 3 rnonlhs following the transfèr ofthè Charity's 8¢tlviti95 into thls entity. Thero were no ernployees whose remuneration was mora than £60,000. 12-
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JANUAR Y 2023 Gains and lo$••s on Invèstm•nts Llnre$tricted funds 2023 Galnsllloss8s18rising on.. Revaluation of inveslrnents Sale of Invg8lm9nts 17,164 4,110 21.274 10 Taxatlon The charity is exempt from taxation on its activities becausa 011 ts Incom8 Is applled for ¢h8ritable purposes. 11 Other galns and 1059es Unrestricted fvnds 2023 Galnslllossg$1 upon.. Foreign exchange 12 Tanglblo flx•d ass•ts Freohold land Leasehold and bulldlng¥ Improvemonts Equlprnenl flxtur88 and fittlngs Motor v•hlclos Total Cost Additions Transfers 4.583 341.685 4,583 646,192 214,251 65,702 24.554 Al 31 January 2023 214,251 65,702 346,268 24,554 850,775 Deprgcl#tion and impairmgnt Depreciation charged in the period Translgr8 237 46,741 5.607 231,400 324 19,475 6,168 321,867 24,251 At 31 January 2023 24,251 46.978 237,007 19,799 326,035 Carrylng amount Al 31 January 2023 190.000 18,724 109,261 4,755 322.740 Freehold land and buildings is mado up tsf a freehold Property al Palatine Road. Wilhington, Manchester, which was valued al a market value of £190,000 by Colliers Intemational in July 2013. Tha Dlrectors consld8r thls valuation lo b8 appropriate at 31 January 2023. 13
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY2023 13 Flxod a•$•t Inv•stm•nts Llst•d Unli8tgd Inv•stm•nt$ investments Total Cost or valuatlon Al 28 January 2022 Addition8 Valuauon changès Transfers Disposals 523 17,164 398,565 523 21,274 420.107 126,1631 4,110 21.542 125.6521 Al 31 January 2023 415,741 415.741 Carrylng amount Al 31 January 2023 415,741 415.741 14 Dèbtors 2023 Amounts falllng du• wlthln on• ar. Other debtors Prèpaymènts and 8ecnJed in¢omtr 4,134 18,600 22,734 15 Credltors.. amounts falllng du• wlthln onè y•ar 2023 Other credltors Accruals and deferred income 40,860 44,331 85,191 16 Unrogtrlct•d funds Thè unrestricted funds of the d)arity comprise thè un8XP8nded balances of donations and grants whlch ar8 not subject lo speafic conditions by donors and grantor8 88 to how they may be used. These indudè designated funds which have been sel a8ide out of unreslrthd fijnds by thè trsJst6&s for 8p$¢ific purp03es. At28 January 2022 Incomlng rnsourc8s Rosourc•s éxpèndèd Trnn¥fers Galns and At 31 January loss•s 2023 General funds 410.337 1401,3521 1,142,463 21.318 1,172,7fj6 14
THE JOSEPH COX CHARITY (FORMERLY THE JOSEPH COX ORGANISATION LIMITED) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 JANUAR Y 2023 17 Sharè capltal The company is lirnited by guarantee, not having a Share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be reqLJired not exeeeding £1. 18 Rèlated party transactions Other than the transfer of activities and assets from The Joseph Cox Charity {registered number 5076281 described in the Trustees, Report and in Note 2. there were no disdosablè related paty transactions during the pe0d. 15