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2025-05-31-accounts

Company registration number: 14111370 Charity registration number: 1202344

Manchester CCRC Trust Ltd

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 May 2025

Manchester CCRC Trust Ltd

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 5
Statement of Trustees' Responsibilities 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 18

Manchester CCRC Trust Ltd

Reference and Administrative Details

Trustees RM Elsdon-Dew AE Parsons MD Roper J Riley Z James SM Bullivant Charity Registration Number 1202344 Company Registration Number 14111370 The charity is incorporated in England. Registered Office 1 Ardwick Green North Manchester M12 6HD Accountants McKellens Chartered Accountants 11 Riverview The Embankment Business Park Vale Road Heaton Mersey Stockport SK4 3GN Bankers Co-operative bank

Page 1

Manchester CCRC Trust Ltd

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 May 2025.

Objectives and activities

Objects and aims

The charity's objects are the advancement of the Christian religion in the Diocese of Manchester through the provision of a church of England church or place of worship in Manchester and by contributing to the establishment, renewal and revitalisation of churches within the Anglican communion.

Objectives, strategies and activities

In September 2023, Fabric Church was launched in Manchester City centre as a new Church of England Church within the Diocese of Manchester with a specific mandate to provide for the fast-growing population of Manchester City Centre as well as the areas of significant need that surround the city centre.

Fabric Church, in the last year, has settled into using the barracks to offer a modern, vibrant and inviting environment to accommodate for the high density of young adults and students in the area. Ardwick has the highest number of students in the city, with 47.3% of it’s population being students. As a result, our congregation is 80% young adults and students across our two services, morning and evening.

We got into a steady rhythm of running termly courses, such as Alpha, community groups, monthly worship nights, Bridge the gap, a football community that brings people together from different backgrounds, a bereavement course, ‘Waiting for Children' for couples facing fertility issues, and Student nights, providing a community where they can support, disciple and celebrate one another.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

Manchester CCRC Trust Ltd

Trustees' Report

Achievements and performance

We have experienced steady growth over the past financial year, especially with the launch of an evening Sunday service, growing from 108 congregation members in April 2024 to 162 in April 2025.

Alongside, we launched new initiatives and one-off events, including launching a 6.30 evening service on 8th September 2024, in October 2024 our first ‘Tackling Anxiety Together’ Course, a faith-based mental health course. For the first time, we took our church congregation to Focus 2024, ran a Student Weekend Away, hosted 40 people over Summer Nights, where every evening in August we held a short talk to unpack taboo topics followed by discussion, as well as Christmas events such as with Beer & Carols, Fabric Carols, Family Service as well as Christmas day service.

We introduced some new team members, EA to the Vicar and Building Manager and Youth Pastor. Since, we’ve started hiring out the building for external events in January 2025, bringing 5 bookings in so far and additional £3,000 income into the Church. We’ve also launched youth sessions during our morning Sunday service, where an average of 6 youth attend. As well as this, we launched our discipleship program, Fabric 52, and introduced 3 amazing volunteers to the team. Each served in a ministry stream and received mentoring and weekly biblical teaching and wider skills training

In terms of renovating the unused parts of the building, we went through tender and secured a contractor to start Phase 1 of removing all the lead paint.

Financial review

During the year, the charity received total income of £310,074 and incurred total expenditure of £270,022.

The trustees are grateful for the continued generosity of donors and grant funders, which enables the church to fulfil its mission and serve the community.

The charity’s principal areas of expenditure during the year were:

The Trustees regularly monitor expenditure against budget to ensure responsible stewardship of resources.

Page 3

Manchester CCRC Trust Ltd

Trustees' Report

Plans for future periods

Aims and key objectives for future periods

In the coming year, we hope to complete Phase 1 of the building works and be granted planning permission for the continued work. We also want to receive approval for listed building consent.

A key objective is the establishment of a dedicated youth outreach programme, designed to engage and support young people within the local area and provide meaningful opportunities for connection, mentoring, and spiritual development.

The charity also intends to launch a structured social outreach initiative, providing a monthly meal for individuals experiencing homelessness. This programme will not only address practical needs but also seek to foster dignity, belonging, and connection by inviting participants into the life of the church community.

Encouraging a deeper culture of prayer remains a priority. The church plans to create and maintain accessible prayer spaces and to actively encourage engagement in prayer among members and visitors alike.

The trustees aim to host a weekend conference to bring the church community together for focused teaching, worship, and fellowship, while creating an open and welcoming environment for others to explore faith.

Further outreach events will be organised throughout the year to strengthen relationships within the local community and increase awareness of the church’s activities and support services.

The charity also plans to host events in recognition of Mental Health Awareness Week and Black History Month, promoting education, reflection, and open dialogue around these important themes.

A School of Theology will be established to provide structured opportunities for deeper theological study, creating safe and thoughtful spaces for discussion, learning, and questions.

In response to continued growth, the trustees plan to increase Sunday services from two to three, ensuring capacity to accommodate attendance while maintaining the quality of pastoral care and community engagement.

Finally, the toddlers’ group will be transitioned from a home-based setting into the church premises, improving accessibility, visibility, and integration within the wider church community.

Structure, governance and management

Nature of governing document

The charity is governed by its Articles of Association as set out on incorporation on 17th May 2022 and as amended and filed at Companies House on 20th June 2023.

Page 4

Manchester CCRC Trust Ltd

Trustees' Report

Recruitment and appointment of trustees

Trustees are appointed by vote of the existing trustees and/or members at a duly convened meeting, in accordance with the governing document. Candidates are proposed and seconded prior to a formal vote.

New trustees are identified through prayerful discernment, skills review, and recommendations from existing trustees and church members. Prospective trustees are invited to meet with the Chair and/or senior leadership to understand the responsibilities of the role.

• The trustees meet quarterly with additional meetings taking place as required to address specific matters or urgent decisions.

• Decisions are made collectively by the trustee board. Matters discussed at meeting with decisions reached by majority vote where necessary. The trustees seek to act in accordance with the charity governing document and to ensure that all decisions are in the best interests of the charity and aligned with it’s charitable objectives. Where appropriate, trustees may seek professional advice or consult with staff and ministry leaders before making significant decisions.

• The trustees do not currently operate formal sub-committees. All key decisions are considered and made by the full trustee board

Major risks and management of those risks

Funding shortfall

The risk of reduced income impacting the charity’s ability to deliver its activities

Trustees monitor income and expenditure regularly and review budgets to ensure financial sustainability.

Safeguarding

The risk of harm to children, young people, and vulnerable adults.

The charity maintains up-to-date safeguarding policies, provides training where appropriate, and ensures that safer recruitment practices are followed

Operational capacity

The risk of strain on staff and volunteers

Trustees monitor workload and seek to recruit and support volunteers to ensure continuity of services

The annual report was approved by the trustees of the charity on 26 February 2026 and signed on its behalf by:

......................................... MD Roper Trustee

Page 5

Manchester CCRC Trust Ltd

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Manchester CCRC Trust Ltd for the purposes of company law) 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on 26 February 2026 and signed on its behalf by:

......................................... MD Roper Trustee

Page 6

Manchester CCRC Trust Ltd

Independent Examiner's Report to the trustees of Manchester CCRC Trust Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Manchester CCRC Trust Ltd as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... Chris Booth McKellens 11 Riverview The Embankment Business Park Vale Road Heaton Mersey Stockport SK4 3GN

26 February 2026

Page 7

Manchester CCRC Trust Ltd

Statement of Financial Activities for the Year Ended 31 May 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Other income
4
Total income
Expenditure on:
Charitable activities
5
Other expenditure
6
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17
Note
Income and Endowments from:
Donations and legacies
3
Other income
4
Total income
Expenditure on:
Charitable activities
5
Other expenditure
6
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds carried forward
17
The funds breakdown for 2024 is shown in note 17.		 Unrestricted
funds
£
303,627
6,447
310,074
(253,806)
(16,216)
(270,022)
40,052
40,052
58,323
98,375
Unrestricted
funds
£
289,267
4,990
294,257
(223,535)
(12,399)
(235,934)
58,323
58,323
58,323		 Total
2025
£
303,627
6,447
310,074
(253,806)
(16,216)
(270,022)
40,052
40,052
58,323
98,375
Total
2024
£
289,267
4,990
294,257
(223,535)
(12,399)
(235,934)
58,323
58,323
58,323

The notes on pages 10 to 18 form an integral part of these financial statements. Page 8

Manchester CCRC Trust Ltd

(Registration number: 14111370) Balance Sheet as at 31 May 2025

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
14
Creditors: Amounts falling due within one year
15
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
16
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
17		 2025
£
2,403,297
26,176
23,793
49,969
(4,891)
45,078
2,448,375
(2,350,000)
98,375
98,375
98,375		 2024
£
2,404,072
490
7,928
8,418
(4,167)
4,251
2,408,323
(2,350,000)
58,323
58,323
58,323

For the financial year ending 31 May 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 8 to 18 were approved by the trustees, and authorised for issue on 26 February 2026 and signed on their behalf by:

......................................... RM Elsdon-Dew Trustee

......................................... MD Roper Trustee

The notes on pages 10 to 18 form an integral part of these financial statements. Page 9

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: 1 Ardwick Green North Manchester M12 6HD

These financial statements were authorised for issue by the trustees on 26 February 2026.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Manchester CCRC Trust Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 10

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Gift aid

Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £1,000.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Page 11

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

Asset class

Property improvements Equipment

Depreciation method and rate

15% per annum on a straight line basis 25% per annum on a reducing balance basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
Grants, including capital grants;
Grants from diocese
Other income from donations and legacies
Donations and legacies;
Donations from individuals
Grants, including capital grants;
Grants from diocese
Other income from donations and legacies		 Unrestricted
funds
General
£
114,496
25,856
159,982
3,293
303,627
Unrestricted
funds
General
£
58,294
227,973
3,000
289,267		 Total
2025
£
114,496
25,856
159,982
3,293
303,627
Total
2024
£
58,294
227,973
3,000
289,267

Page 12

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

4 Other income

Rental income
Rental income
5
Expenditure on charitable activities
Note
Services & activities
Staff costs
Governance costs
7
Note
Services & activities
Staff costs
Governance costs
7		 Unrestricted
funds
General
£
6,447
Unrestricted
funds
General
£
4,990
Unrestricted
funds
General
£
100,363
147,197
6,246
253,806
Unrestricted
funds
General
£
98,721
121,030
3,784
223,535		 Total
2025
£
6,447
Total
2024
£
4,990
Total
2025
£
100,363
147,197
6,246
253,806
Total
2024
£
98,721
121,030
3,784
223,535

6 Other expenditure

Note
Marketing and publicity
Depreciation, amortisation and other similar costs
Other resources expended		 Unrestricted
funds
General
£
2,796
11,704
1,716
16,216		 Total
2025
£
2,796
11,704
1,716
16,216

Page 13

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

Note
Marketing and publicity
Depreciation, amortisation and other similar costs
Other resources expended
7
Analysis of governance and support costs
Governance costs
Independent examiner fees
Examination of the financial statements
Other fees paid to examiners
Legal & professional fees
Independent examiner fees
Examination of the financial statements
Other fees paid to examiners
Legal & professional fees		 Unrestricted
funds
General
£
7,402
4,523
474
12,399
Unrestricted
funds
General
£
660
2,040
3,546
6,246
Unrestricted
funds
General
£
660
1,524
1,600
3,784		 Total
2024
£
7,402
4,523
474
12,399
Total
2025
£
660
2,040
3,546
6,246
Total
2024
£
660
1,524
1,600
3,784

8 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

Page 14

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs		 2025
£
133,904
7,640
3,023
2,630
147,197		 2024
£
115,467
3,603
1,553
407
121,030

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

All employees
No employee received emoluments of more than £60,000 during the year.
10 Independent examiner's remuneration
Examination of the financial statements
Other fees to examiners
All other services		 2025
No
5
2025
£
660
2,040		 2024
No
4
2024
£
660
1,524

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 15

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

12 Tangible fixed assets

Land and
buildings
£
Cost
At 1 June 2024
2,350,000
Additions
-
At 31 May 2025
2,350,000
Depreciation
At 1 June 2024
-
Charge for the year
-
At 31 May 2025
-
Net book value
At 31 May 2025
2,350,000
At 31 May 2024
2,350,000
13 Debtors
Trade debtors
Other debtors
14 Cash and cash equivalents
Cash on hand
Cash at bank
Other cash and cash equivalents
15 Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Pension scheme creditor
Accruals		 Improvements
to property
£
31,546
4,124
35,670
1,166
4,773
5,939
29,731
30,380		 Improvements
to property
£
31,546
4,124
35,670
1,166
4,773
5,939
29,731
30,380		 Equipment
£
27,049
6,804		 Total
£
2,408,595
10,928
2,419,523
4,523
11,703
16,226
2,403,297
2,404,072
2024
£
490
-
35,670 33,853
1,166
4,773		 3,357
6,930
5,939 10,287
29,731 23,566
30,380 23,692
2025
£
230
25,946
26,176
2025
£
-
23,358
435
23,793
2025
£
1,980
561
670
1,680
4,891
490
2024
£
344
7,584
-
7,928
2024
£
1,979
-
508
1,680
4,167

Page 16

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

Other borrowings

The Diocesan Board of Finance loan with a carrying amount of £2,350,000 (2024 - £2,350,000) is denominated in £ with a nominal interest rate of 0% (2024 - 0%). The final instalment is due on 31 December 2052.

The loan is unsecured and is repayable in equal installments commencing in 2028

16 Creditors: amounts falling due after one year

Other loans
17 Funds
Unrestricted funds
General
Unrestricted funds
General		 Balance at 1
June 2024
£
58,323		 Incoming
resources
£
310,074
Incoming
resources
£
294,257		 2025
£
2,350,000
Resources
expended
£
(270,022)
Resources
expended
£
(235,934)		 2024
£
2,350,000
Balance at 31
May 2025
£
98,375
Balance at 31
May 2024
£
58,323

18 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted
funds
General
£
2,403,297
49,969
(4,891)
(2,350,000)
98,375		 Total funds at
31 May
2025
£
2,403,297
49,969
(4,891)
(2,350,000)
98,375

Page 17

Manchester CCRC Trust Ltd

Notes to the Financial Statements for the Year Ended 31 May 2025

Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted
funds
General
£
2,404,072
8,418
(4,167)
(2,350,000)
58,323		 Total funds at
31 May
2024
£
2,404,072
8,418
(4,167)
(2,350,000)
58,323

19 Related party transactions

There were no related party transactions in the year.

Page 18