2023-12-31-accounts

Charity Registration Number 1200135

ST ALDATES MINISTRY CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023

ST ALDATES MINISTRY CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Basset J Corps S Foster A Godley K Simson (resigned 23 July 2024) Charity Number 1200135 Independent Examiner Mercer Lewin Ltd 6-7 Citibase New Barclay House 234 Botley Rd Oxford OX2 0HP Bankers CAF Bank Ltd 25 Kings Hill Avenue West Malling ME19 4JQ

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ST ALDATES MINISTRY CIO

CONTENTS

	Page
Trustees’ Report	3
Independent Examiner’s Report	5
Accounting Policies	6
Statement of Financial Activities	9
Statement of Financial Position	10
Notes to the Financial Statement	11

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ST ALDATES MINISTRY CIO

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023

The Trustees present their report and accounts for the period ended 31 December 2023.

The accounts have been prepared in accordance with the accounting policies set out on pages 6 to 8 and comply with the Charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019).

Objectives and activities

The charity's objectives are the advancement of the Christian religion by the proclamation of the gospel of Christ and the building up of his body by the church be whatever legally charitable

The charity was created to provide a means of incorporation of the former St Aldates Ministry Trust (the Trust). Trustees are currently considering the most appropriate way of utilising the funds which it received from the Trust whilst ensuring that it meets its objectives. In doing so they will pay due regard to guidance on public benefit issued by the Charity Commission. In the meantime, the funds received from the Trust been invested so as to achieve a financial return.

Financial review

The charity received income of £187,305 being the entire assets of the former St Aldates Ministry Trust along with investment income of £7,766. The charity’s only expenditure was on bank charges and independent examination fees.

Structure, governance and management

The Charity was established in August 2022 so as to provide a means of incorporation of the St Aldates Ministry Trust. The St Aldates Ministry Trust was established in the 1960’s.

The Trustees who served during the year and up to the date of signature of the financial statements were:

J Basset (appointed 22 August 2022)

J Corps (appointed 22 August 2022)

S Foster (appointed 22 August 2022)

A Godley (appointed 12 May 2023)

K Simson (appointed 17 March 2023, resigned 23 July 2024)

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ST ALDATES MINISTRY CIO The Trustees are responsib18 for the overall management and control of the charity. The board of Trustees meets as 8nd when necessary. The Trustees, report was approved by the Board of Trustees. Trustee 9 October 2024

ST ALDATESMIN15TrY CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST ALDATES MINISTRY CIO I report to the trLJStees on my examination of the accounts of the above cttarity I'the Charity.) for the period ended 31 December2023. Responslbilities and basls of report As the charity's trustees. you ar8 responsible forthe preparation of the accounts in accordance with the requirements of the Chariries Act 20111'the Act"). I report in respect of ry 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 bythe Charity Commission under sectiDn 14515llbl of the Act. Independent gxaminer'5 Statement I have completed myexamination. I confirm that no materialmatters have cometo my attention in connection with the examination which gives me cause to believe that in. any materi81 re5pect- the accounting records were not kept in accordance with sectlon 130 of the Charities the accounts did not accord with the accounting records. or the accounts did 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 accL)unts give a'true and tsir, view which is not a matter considered as part of an inrjependent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be Jrawn in this report in Order to enable a proper undorstanding Df he accountsto be reached. Andrew Churchiii Stone Mer¢or Lewin Ltd Chartered Accountants 6-7 Citibase New BarclayHouse 234 Botley Road Oxford OX2 OHP Date..

ST ALDATES MINISTRY CIO

ACCOUNTING POLICIES

Charity information

St Aldates Ministry CIO is an incorporated charity registered with the Charity Commission for England and Wales.

Accounting convention

The accounts have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019).

The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount.

Expenditure

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ST ALDATES MINISTRY CIO

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central sta� costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to do so.

Charitable activities include expenditure associated with meeting its charitable objectives. This includes the cost of grant making, and direct provision of charitable services.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other shortterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the e�ective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current

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ST ALDATES MINISTRY CIO

liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the e�ective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may di�er from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision a�ects only that period, or in the period of the revision and future periods where the revision a�ects both current and future periods.

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ST ALDATES MINISTRY CIO

Statement of Financial Ac�vi�es for the period ended 31 December 2023

Note Income Charitable Ac�vi�es 1 Investments 1 Total Income Expenditure Charitable ac�vi�es 2 Net gains/(losses) on investments 3 Net income and movement in funds Total funds brought forward Total funds carried forward 6	Unrestricted Funds £ 187,305 7,766
	195,071
	(660)
	7,216
	201,627 -
	201,627

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ST ALDATES MINISTRY CIO Balance Sheet as at 31 December 2023 2023 Note Flxed a55ets Investments 30￿50 30J50 Current assots Cash at bank and In hand Accrued interest Total current assets 169.191 2.186 171.377 Credltors: amounts due wlthln one year 16001 Net Current assets 170,777 Total assets le55 curr•nt Ilabllltles and Net assèts 201,627 Unrestrlcted Fund5 201,627 Approved by the Trustees on 9 October 2024 and slgned on Its behalf by.. Trustee 10

ST ALDATES MINISTRY CIO

1 Income

Charitable Income Transferred from St Aldates Ministry Trust Investment income Income from listed investments Interest Total Income	Unrestricted 2023 £ 187,305
	1,452 6,314
	7,766
	195,071

2 Expenditure

Charitable Ac�vi�es

Charitable Ac�vi�es
Bank charges Independent examina�on	Support Costs Governance Costs Total £ £ £ 60 - 60 - 600 600
	60 600 660

3 Net gain on investments

Gain on revalua�on of investments 4 Fixed Asset Investments Cost or valua�on Acquired from St Aldates Ministry Trust Valua�on changes At close of period 5 Liabili�es: amounts due within one year Accruals	Unrestricted 2023 £ 7,216
	Listed Investments £ 23,634 7,216
	30,850
	2023 £ 600
	600

4 Fixed Asset Investments

5 Liabili�es: amounts due within one year

6 Analysis of movement in Reserves

	Income for the	Expenditure	Revalua�on	Balance at end
	period		changes	of period
	£	£	£	£
Unrestricted - General Fund	195,071	(660)	7,216	201,627

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ST ALDATES MINISTRY CIO

7 Trustees and Related Par�es

None of the trustees (or any persons connected with them) received any remunera�on or reimbursed expenses during the period.

The Charity received a dona�on of £187,305 from the St Aldates Ministry trust which had a number of common trustees.

There were no other disclosable related party transac�ons during the period.

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