Charity registration number: 1200832 Company registration number: 13356157
Cherish (Reach and Connect) Company Limited by Guarantee
UNAUDITED FINANCIAL STATEMENTS AND TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
https://cherishgroup.org/
Cherish (Reach and Connect)
INDEX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' annual report (incorporating the directors report) | 2 - 4 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 12 |
Cherish (Reach and Connect)
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees: John Fell - appointed 28 August 2023 Elaine Monk - resigned 15 February 2023 Lesley Muir-Taylor - resigned 16 February 2023 David Nickson Pamela Nickson Rev Stewart Reid - appointed 1 June 2023 Secretary: David Nickson Charity registration number: 1200832 Company registration number: 13356157 Charity Address: The Cherish Centre (and registered office) West Park 65-67 Albert Road Southport PR9 9LN Charity Website: https://cherishgroup.org/ Independent Examiners: Lifestyles Accountancy Limited 39 Kirklees Road Southport PR8 4RB Bankers: NatWest 130 Lord Street Southport PR9 0AE
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Cherish (Reach and Connect)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees submit their annual report and financial statements for the year ended 31 December 2023. The financial statements follow the requirements of the revised Charities Statement of Recommended Practice (FRS 102) (second edition - October 2019) – 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) (effective 1 January 2019). For the purpose of charity law, directors are also the company’s trustees and are responsible for making all major decisions on behalf of the company and are referred to throughout this report as trustees.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a Charitable company, limited by guarantee, incorporated on 26 April 2021. It is governed by its memorandum and articles of association and registered with the Charity Commission on 13 September 2022.
Recruitment and appointment of the trustees
The board seeks to achieve a balance of skills and experience amongst the trustees. In order to maintain this, the board reviews its skill and experience mix each year and seeks to recruit new trustees when necessary.
Appointment is made once an application for becoming a trustee is received by the charity and the board of current trustees have interviewed the candidate and voted. Usually the board is unanimous in its decision but if that were not the case then a majority vote would prevail.
In appointing trustees due consideration is given to ensuring that the trustees have, between them, the skills and experience necessary to manage the charity effectively and in accordance with charity law. In order to retain our relevance to the needs of the community, we also look to recruit trustees with active experience and first-hand involvement in the sector.
Trustee induction and training
The current board of trustees will provide any new trustee with an overview of the timetable of board meetings, copies of the recent minutes of meetings, the recent reports and accounts and explains their general and specific responsibilities.
Ongoing training is provided by the board of trustees as and when the need arises.
Risk management
The charity has undertaken a review of the major risks to which it is exposed and monitors this regularly. A regular monitoring of the charity's bank account and the taking into account of any fund restrictions by the management ensures that the charity does not commit to spend more than it has available.
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Cherish (Reach and Connect)
TRUSTEES' REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
OBJECTIVES AND ACTIVITIES
Objects of the charity
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
The purpose of the charity is to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. For the purpose of this clause ‘socially excluded’ means being excluded from society, or parts of society, as a result of one of more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender re-assignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards; crime (either as a victim of crime or as an offender rehabilitating into society).
ACHIEVEMENTS AND PERFORMANCE
Review and summary of the year
Throughout the year the charity has continued to operate the centre and provide meals, events and activities to those suffering from loneliness and isolation in the local community.
Footfall and utilisation of the centre has steadily increased with other community groups and charities using the centre as a base/to run activities.
Although the charity was initially set up to support people over the age of 50, it has seen an increase in the number of younger adults attending, in particular, those with health conditions and impairments or those who are vulnerable for varying factors.
FINANCIAL REVIEW
Principal funding sources
The principal funding sources of the charity continue to be received from the very generous donors and grant funders that the charity is so very thankful to.
Review and summary of the year
In the year to 31 December 2023 income of £32,217 was received (2022 - £40,923). Costs during the year totalled £38,683 (2022 - £28,476) which generated a deficit throughout the year of £6,466 (2022 - £12,447 surplus). This only arose as the larger restricted grants that were received last year were spent this year resulting in an overall surplus of £4,986 on unrestricted funds.
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Cherish (Reach and Connect)
TRUSTEES' REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW (continued)
Reserves policy
The trustees have decided on a policy of holding a minimum of £5,000 in unrestricted reserves, the charity having little other regular commitment to overhead expenditure other than the ongoing rental of the property to which it operates.
In the year to 31 December 2023 the amount available in unrestricted reserves was £8,335 (2022 - £3,349). The trustees are continuing to expand on the valuable work that they undertake to help more and more in need which will aim to continue to use the resources available to them.
PLANS FOR FUTURE PERIODS
General plans
The charity will continue its current programme throughout the year and aims to attract more support both financially and voluntarily in providing contact to local individuals in need.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
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 charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
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a. select suitable accounting policies and apply them consistently;
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b. observe the methods and principals in the Charities SORP;
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c. make judgements and estimates that are reasonable and prudent;
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d. state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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e. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of trustees on 5 April 2024 and signed on its behalf by:
……………………………… David Nickson - trustee
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Cherish (Reach and Connect)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHERISH (REACH AND CONNECT)
FOR THE YEAR ENDED 31 DECEMBER 2023
We report on the financial statements of the charity for the year ended 31 December 2023, which are set out on pages 6 to 12.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
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(i) examine the accounts under section 145 of the Charities Act,
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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(iii) to state whether particular matters have come to our attention.
Basis of independent examiner's statement
Our examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
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a) which gives us reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
b) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Daniel Styles (Independent examiner)
for and on behalf of Lifestyles Accountancy Limited
Dated: 5 April 2024
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Cherish (Reach and Connect)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted Restricted Total funds funds funds 2023 2023 2023 Notes £ £ £ INCOMING RESOURCES Incoming resources from generated funds: Voluntary income: Donations and gifts 2 5,379 - 5,379 Grant income 2 - 6,285 6,285 Fundraising income 2 20,553 - 20,553 TOTAL INCOMING RESOURCES 25,932 6,285 32,217 RESOURCES EXPENDED Charitable activities 3 16,273 9,816 26,089 Raising funds 3 4,473 7,921 12,394 Governance costs 4 200 - 200 TOTAL RESOURCES EXPENDED 20,946 17,737 38,683 4,986 (11,452) (6,466) Fund balances at 1 January 2023 3,349 13,058 16,407 Fund balances at 31 December 2023 8,335 1,606 9,941 NET INCOMING RESOURCES FOR THE YEAR |
Total funds 2022 £ 4,483 23,024 13,416 40,923 15,793 12,683 - 28,476 12,447 3,960 16,407 |
|---|---|
The notes on pages 8 - 12 form part of these financial statements.
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Cherish (Reach and Connect)
BALANCE SHEET
AS AT 31 DECEMBER 2023
| Notes CURRENT ASSETS Cash at bank and in hand Trade debtors Prepayments and accrued income CURRENT LIABILITIES Accruals NET CURRENT ASSETS TOTAL NET ASSETS FUNDS Restricted funds Unrestricted funds TOTAL FUNDS 6 & 7 |
Total funds 2023 £ 8,380 619 1,042 10,041 100 100 9,941 9,941 1,606 8,335 9,941 |
Total funds 2022 £ 16,258 40 109 16,407 - - 16,407 16,407 13,058 3,349 16,407 |
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For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
The members have not required the company to obtain an audit of its financial n statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of n the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 5 April 2024, and are signed on behalf of the board by:
………………………………
David Nickson - trustee
The notes on pages 8 - 12 form part of these financial statements.
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Cherish (Reach and Connect)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 ACCOUNTING POLICIES
a Charity information
Cherish (Reach And Connect) is a private company limited by guarantee incorporated in England and Wales. The registered office is The Cherish Centre, West Park, 65-67 Albert Road, Southport, PR9 9LN.
b Accounting convention
The financial statements have been prepared in accordance with the charity's memorandum and articles of association incorporated 26 April 2021, the Companies Act 2006 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) (effective 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 are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest whole £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
c 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.
d Charitable funds
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements where relevant.
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Cherish (Reach and Connect)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 ACCOUNTING POLICIES (continued)
e Income
All incoming resources are included in the SOFA when the charity is legally entitled to the income and can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. No amounts are included in the financial statements for services donated by volunteers.
f Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.
Fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management costs. Management and administration costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
g Tangible fixed assets and depreciation
Tangible fixed assets costing more than £500 are capitalised and included at cost including and incidental expenses of acquisition.
h 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.
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Cherish (Reach and Connect)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
2 VOLUNTARY INCOME
| Donations and gifts: Donations received Gift aid tax reclaimed Grant income: Grants received Fundraising income: Event income Centre rental Sundry sales |
Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 4,446 - 4,446 933 - 933 - 6,285 6,285 4,341 - 4,341 15,586 - 15,586 626 - 626 25,932 6,285 32,217 |
Total funds 2022 £ 4,389 94 23,024 5,436 7,732 248 40,923 |
|---|---|---|
3 COSTS OF CHARITABLE ACTIVITIES
| Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ Administration costs: Equipment and maintenance 6,613 9,816 16,429 Centre rent 4,168 - 4,168 Telephone and internet 644 - 644 Computer costs 1,314 - 1,314 Website costs 384 - 384 Printing, postage and stationery 604 - 604 Sundry costs 1,141 - 1,141 Travel costs 264 - 264 Staff training and entertainment 336 - 336 Charitable donations 389 - 389 Fundraising costs: Event costs and materials 4,027 7,921 11,948 Advertising and marketing 446 - 446 Support costs: Insurance 416 - 416 20,746 17,737 38,483 |
Total funds 2022 £ 6,081 4,584 528 1,771 335 459 1,203 97 134 185 12,619 64 416 28,476 |
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Cherish (Reach and Connect)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
4 GOVERNANCE COSTS
| Independent examination | Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 200 - 200 |
Total funds 2022 £ - |
|---|---|---|
5 TRUSTEES REMUNERATION
No trustee received any remuneration throughout the year.
6 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Current assets Current liabilities Cherish Christmas Cherish Coronation Friendship Café Garden Group Garden Project Warm Spaces RESTRICTED FUNDS |
Unrestricted Restricted Total funds funds funds 2023 2023 2023 £ £ £ 8,435 1,606 10,041 (100) - (100) 8,335 1,606 9,941 Balance at Incoming Resources 1 Jan 23 Resources Expended £ £ £ - 3,260 3,260 - 365 365 3,369 165 3,534 - 675 127 9,689 - 9,689 - 1,820 762 13,058 6,285 17,737 |
Total funds 2022 £ 16,407 - 16,407 Balance at 31 Dec 23 £ - - - 548 - 1,058 1,606 |
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7 RESTRICTED FUNDS
All restricted grants received as shown above are for the furtherance of the charitable activities of the charity and are to cover the cost of the events and activities to which the grants were intended.
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Cherish (Reach and Connect)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2023
8 RELATED PARTY TRANSACTIONS
There were no known disclosable related party transactions during the year (2022 - none) other than costs totalling £9,259, payable to the sons of two of the directors for structural garden work.
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