Churches Together in Milton Keynes Trust (A Charitable Incorporated Organisation)
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD JANUARY 2023 – DECEMBER 2023
Charity No: 1200092
Churches Together in Milton Keynes Trust
FOR THE PERIOD JANUARY 2023 – DECEMBER 2023
CONTENTS
| Pages | |
|---|---|
| 3-5 | Report of the Trustees |
| 6 | Statement of Financial Activities |
| 7 | Balance Sheet |
Churches Together in Milton Keynes Trust
Trustees Report and Financial Statements for the period 1[st] January 2023 – 31[st] December 2023
Trustees:
Revd Timothy Norwood (Chair) Revd George Mwaura Revd Nathan Marlam
Major Joanna Baker Mrs Pauline Gray Revd Edson Dube
Office address:
Church of Christ the Cornerstone. 300 Saxon Gate West Central Milton Keynes MK9 2ES
Principal Bankers: CAF Bank Ltd 25 Kings Hill Ave, Kings Hill, West Malling ME19 4JQ
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The Trustees present their report together with the financial statements of the charity for the period from 1[st] January 2023 – 31[st] December 2023. The trustees are listed above. The Churches Together in Milton Keynes Trust (CTMK) was registered as a CIO (Charitable Incorporated Organisation) in August 2022. The financial processes for the new charity started with effect from January 1[st] 2023
Purposes and Public Benefit
Following the establishment of the CIO, the purposes of the charity and its associated public benefit are now as articulated below:
To advance the Christian faith by drawing together Christian communities from Milton Keynes and surrounding areas to further the 'five marks of mission' (which have been adopted by the forum of Churches Together in England and which are set out in the schedule attached to the constitution) to the benefit of all those living within the borough of Milton Keynes and, through outreach programmes, beyond the borough.
Show God’s love to the Borough and City of Milton Keynes, Support each other as followers of Christ.
Additionally, as an ecumenical body, the charity is intrinsically concerned with the public benefits of reconciliation and the broad advancement of the Christian faith.
Organisation
The charity is a Foundation model CIO so has no members other than the trustees. Churches join in membership of the organisation but are not voting members of the charity.
An initial body of three trustees was created by the governing document. Three further trustees were added shortly after registration.
All trustees have been alerted to advice on the Charity Commission website regarding their roles. Recruitment procedures are in line with Charity Commission recommendations.
Review of the activities and future developments
The “Five Marks of Mission” are expressed as:
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To proclaim the good news of the Kingdom
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To teach, baptise and nurture new believers
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To respond to human need by loving service
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To seek to transform unjust structures of society 5. To strive to safeguard the integrity of creation and to sustain the life of the earth.
These objectives generate public benefit through:
Ann Harris was appointed as an administrator in January 2023 and acts as a point of contact for churches and other Christian bodies who wish to advertise special services and events. She coordinates the activities arranged by CTMK.
Office space was provided by sharing the office at Christ the Cornerstone originally provided for MK Deanery. A direct arrangement was made with the church in November 2023 as the Deanery no longer required the space.
Initial Vision
The initial vision for the charity emerged from a listening exercise following the dissolution of the Milton Keynes Mission Partnership (MKMP) in early 2022. There was a desire to build on the successes of the former organisation, but also an awareness that any new organisation would need to be very different. There were four key principles which emerged from this:
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Focus on Mission: Mission should be the
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focus, rather than structures.
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Broader and More Diverse: There should not
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be a focus on the established denominations, but a breadth of involvement from the start.
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More Sustainable: The charity should not be
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dependent on external funding and should only spend what it can raise.
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Locally led: The ownership of vision, strategy
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and policy should sit very firmly with local people, although the advice and encouragement of denominations would be appreciated.
The vision was summarised with the following statement:
We are building a new organisation which will draw together Christian communities from Milton Keynes and surrounding areas to:
Events:
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Week of prayer for Christian Unity Jan 23. A program of eight events at different venues over the week.
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Annual Civic Prayer Breakfast July 23. An annual event inherited from the Mission Partnership. A meeting involving clergy along with
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representatives of Civic and Voluntary sectors
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Thy Kingdom Come May 23. Open House at Christ the Cornerstone and including a prayer walk and planned events for prayer and reflection
Financial review
In order to be sustainable, it was important to ensure a continuing income stream which would match the costs of running the charity.
CTMKT received monies from the MKMP on its dissolution. The trustees were also assured that the larger LEPs would continue to pay to CTMKT as they had to MKMP. CTMK will provide the functions of an Intermediate Body - which is essential for LEPs to operate. This initial funding would ensure that the charity could operate for at least six months.
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Three denominations were approached for “transitional funding” which would enable the charity to build a sustainable funding model within three years. The Church of England Diocese of Oxford, the URC East Midlands Synod and the MK Methodist Circuit each agreed to contribute £2,000 per year for three years.
Reserves policy and risk management
The charity maintains reserves of at least two months regular expenditure.
Statement of Trustees responsibilities
This would be enough to cover expenses during the period of initial growth and development. The trustees are very grateful for this support.
The trustees aim for the charity to be entirely supported by local funding by the end of 2025. This should be possible if 37 churches contribute an average of £200 per year. Given the number of congregations in the area, this is realistic - but will require work by the trustees. It is expected that giving by individuals will also help balance any shortfall..
Salary policy
The trustees have decided that CTMKT will be a Living Wage Employer. This means that the organisation will need to pay at least the Real Living Wage as determined by the Living Wage Foundation. It is felt that this is important to do as commitment to social justice and the alleviation of poverty. Registration for the first year cost £79.20 but was viewed as an important action which helps raise the profile of the Real Living Wage.
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; following the methods and principles in the Charities SOFA, make judgments and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Investment powers
The trustees have the power to make any investment they see fit in the same manner and subject to the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000.
Related parties
There were no related parties in the period covered by this report
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed.
They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website.
Signed Revd Tim Norwood – Chair of Trustees Dr Adrian Prisk – Treasurer Date: 11[th] Oct 2024
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Churches Together in Milton Keynes Trust - (CIO 1200092)
Statement of Financial Affairs (SOFA) December 2023
Total Total Total Total Funds
Unrestricted Restricted Endowment 2023
£ £ £ £
Income
Donations and legacies 6,563 6,563
Income from charitable activities: 0
Income from trading activities 1,405 1,405
Grants 6,000 6,000
Income from investments (incl Bank Interest) 18 18
Other Income 0
Total income 12,581 1,405 13,986
Expenditure
Cost of fundraising 0
Donations to charity and mission 0
Ministry costs and expenses 0
Running Costs 12,031 1,269 13,300
Major building repairs 0
Other costs 0
Total expenditure 12,031 1,269 - 13,300
Increase (Decrease) in investment value
Net income/expenditure and net movements in funds 549 136 0 686
Reconciliation of Funds
Transfers and corrections
Fund balance brought forward at 01.01.23 8,911 0 8,911
Fund balance Carried forward at 31.12.23 9,461 136 9,597
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Signed
Revd Timothy Norwood – Chair of Trustees Dr Adrian Prisk – Treasurer Date: 11[th] Oct 2024
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Churches Together in Milton Keynes Trust (CIO - 1200092)
Balance Sheet Dec 2023
31/12/2023
Debtors 1,380
Bank Current Accounts 8,381
Bank Deposit Accounts 0
Cash 0
Endowments 0
Creditors (164)
Adjustments
Total 9,597
Funds
Unrestricted Restricted Endowment
General Fund 9,461 9,461
Events 136 136
Total 9,597
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Signed
Revd Timothy Norwood – Chair of Trustees Dr Adrian Prisk – Treasurer Date: 11[th] Oct 2024
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