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2024-03-31-accounts

Charity number: 1203685

RANMOOR PARISH CENTRE TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

RANMOOR PARISH CENTRE TRUST

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 21

RANMOOR PARISH CENTRE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS MANAGEMENT COMMITTEE AND TRUSTEES AND ADVISERS

FOR THE YEAR ENDED 31 MARCH 2024

Management Committee and Trustees

Rev Canon Dr Matthew Rhodes (Chairman), ex officio trustee Mark Christopher Edward Gregory, ex officio trustee Pauline Tyzack Heath, ex officio trustee Maureen Neill (resigned 14 June 2023) David Francis Booker, nominated trustee Gaye Lesley Woods, nominated trustee Jacqueline Caryll Dakin, nominated trustee Freya Sylvia Liddle, appointed trustee (appointed 17 January 2024) Christopher Francis Cooper, appointed trustee (appointed 8 May 2024) Dr Thomas Edward Howe, appointed trustee (appointed 8 May 2024)

Charity registered number

1203685

Principal office

5 Ranmoor Park Road Sheffield S10 3GX

Bankers

Charities Aid Foundation 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA

Key personnel

Jacky Dakin, Hon. Bookkeeper Claire Webber, Centre Administrator Steve Dugdale, Building Manager

Independent Examiner

Rachel Heath FCCA DChA BHP LLP 2 Rutland Park Sheffield S10 2PD

Page 1

RANMOOR PARISH CENTRE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the financial statements for the period 1 April 2023 to 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts 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 (second edition - October 2019).

Structure, governance and management

a. Constitution

For many years the Charity had been run as a Charitable Trust. On 22 June 2023 a new Charitable Incorporated Organisation (CIO) was formed, also named Ranmoor Parish Centre Trust, with registered charity number 1203685. In July 2023 the Trustees resolved to close the old Charitable Trust (charity no 511649) and to transfer the freehold property at 5 Ranmoor Park Road and other assets to the new CIO. The Property was transferred in August 2023. Two new CAF Bank accounts were opened in October 2023 and the old Charitable Trust Bank accounts were closed in March 2024. The old Charitable Trust was removed from the register by the Charity Commission on 22 May 2024.

b. Methods of appointment or election of Trustees

The Constitution of the CIO states that there shall be:

not more than 3 Ex officio trustees (the Incumbent and 2 churchwardens of St John the Evangelist, Ranmoor) not more than 4 Nominated trustees (persons appointed by the PCC of St John the Evangelist, Ranmoor) not more than 3 Appointed trustees (persons appointed by RPCT trustees at a properly convened meeting)

The present trustees of the charity are listed on page 1.

Objectives and activities

a. Objectives and activities

The Charity's objects are the furtherance of the religious and other charitable work of the Church of England in the ecclesiastical parish of Saint John the Evangelist, Ranmoor in the Diocese and City of Sheffield.

Its main activities include the hiring of rooms and letting of its flats.

b. Public benefit

The Charity ensures that its rooms and groups are used by the Church, other Charities and members of the local Community both on a regular basis and for one-off events. The beneficiaries include all ages.

The Trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commision. Details of how the charity has carried out its activites for the public benefit are given below.

Page 2

RANMOOR PARISH CENTRE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

a. Constitution and trustees

As explained above during the year a new Charitable Incorporated Organisation (CIO) took over the running of the Ranmoor Parish Centre Trust (RPCT) from the old Charitable Trust. The Constitution of the new CIO established 3 types of Trustees:

b. Building project

Following the tenants vacating the 2 flats in February 2023 the trustees accepted a quotation for the repair of the roof and a full refurbishment of the 2 upstairs flats costing £145k plus VAT. Work commenced on the project in April 2023 and was substantially completed by the end of September 2023. A number of extras were required to complete the project, which ultimately cost £215k. The upstairs flats were re-let to commercial tenants in December 2023 and January 2024.

c. Mortgage loan

In order to fund the Building project the Trustees applied for a Mortgage Loan of £160k from Kingdom Bank Ltd. Kingdom Bank have a first legal mortgage on the Charity’s freehold property at 5 Ranmoor Park Road. Whilst the loan application was made in August 2023 the mortgage proceeds were not received until November 2023. In the meantime the building project was initially funded by the charity’s own resources and then by loans from the PCC of St John the Evangelist, Ranmoor totalling £105k. The loans were repaid to the PCC with interest on receipt of the Mortgage loan in November 2023.The mortgage loan is repayable over 30 years, however the Trustees are permitted to make early repayments without penalty. Repayments for the first 12 months are on an interest only basis.

d. Room hire

The Parish Centre hires 4 rooms throughout the week to two different types of hirers. Type one is regular hirers and the second hirer are one-off hirers. Our business model is to focus on regular hirers as they can provide regular bookings throughout the year. Regular income is around 90% of our bookings. The number of groups using the Parish Centre has increased in number and frequency of use since 2023. The overall income 2024 was £36,712 versus £30,243 (2023).

e. Contribution from St John's Ranmoor PCC

The centre provides the Parish Office for the parish of St John’s Ranmoor together with facilities for the Wednesday luncheon club, Church committee meetings and other groups, social gatherings and Guides & Brownies. The contribution increased to £8,375 this year (2023 £6,500)

f. Repairs to the Centre

Repairs to the Centre, excluding the Building Project, were substantial this year including the installation of the new automatic front door, the replacement boiler, the repairs to the Garden Room ceiling and the external bay windows in Room 1.

Page 3

RANMOOR PARISH CENTRE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Financial review

a. Results for the Year

Due to the refurbishment project on the 2 upstairs flats rental income was only received for the last 3 months of the year. Consequently total income was a modest £55,881 (2023 £49,164). Room hire receipts increased with several new groups using the Centre to £36,712 (2023 £30,243).

Expenditure for the year was £84,153 (2023 £49,281). The reasons for this were as follows:

The deficit for the year was £28,272 (2023 deficit £117) but the factors referred to above combined to produce this adverse result. The trustees therefore regard this year’s result as exceptional and anticipate achieving surpluses in future years.

b. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

c. Reserves policy

The charity’s reserves policy is to maintain free reserves at a minimum level which equates to six months normal expenditure.

On an ongoing basis six months expenditure would equate to around £30,000 per annum. Free reserves at 31 March 2024 stand at £34,743, which exceeds this figure.

Page 4

RANMOOR PARISH CENTRE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

d. Plans for the Future

During 2023/24 the trustees have adopted the new CIO charity structure, transferred the property to the new CIO, completed the refurbishment project for the 2 upstairs flats and re-let the flats to commercial tenants. To fund the refurbishment the Trustees have taken out a Mortgage Loan with Kingdom Bank and by 31 March 2024 had unrestricted funds (free reserves) of £34,743. Over the year the charity has had positive income from room hire which in financial terms was up by 20% on the previous year.

The Trustees anticipate that modest surpluses will be achieved in 2024/25 and later years, which will replenish the Charity’s cash reserves.

Statement of Trustees' responsibilities

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 & 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

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 for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Rev Canon Dr Matthew Rhodes

Page 5

RANMOOR PARISH CENTRE TRUST

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 MARCH 2024

Independent examiner's report to the Trustees of Ranmoor Parish Centre Trust ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

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

  3. the accounts do 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 accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

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.

Signed: Rachel Heath FCCA DChA

Dated:

BHP LLP

Chartered Accountants 2 Rutland Park Sheffield S10 2PD

Page 6

RANMOOR PARISH CENTRE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Charitable activities
3
Investments
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net expenditure before net losses on investments
Net losses on investments
Net movement in funds before other recognised
gains/(losses)
Other recognised gains/(losses):
Gains on revaluation of freehold property
8
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
54,887
994
55,881
84,152
84,152
(28,271)
-
(28,271)
1,066,087
1,037,816
236,928
1,037,816
1,274,744		 Total
funds
2024
£
54,887
994
55,881
84,152
84,152
(28,271)
-
(28,271)
1,066,087
1,037,816
236,928
1,037,816
1,274,744		 Total
funds
2023
£
48,973
191
49,164
49,281
49,281
(117)
(2,152)
(2,269)
-
(2,269)
239,197
(2,269)
236,928

The Statement of financial activities includes all gains and losses recognised in the year.

Page 7

RANMOOR PARISH CENTRE TRUST

BALANCE SHEET

AS AT 31 MARCH 2024

Note
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one year
10
Net current assets
Creditors: amounts falling due after more than
one year
11
Total net assets
Charity funds
Restricted funds
12
Unrestricted funds
12
Total funds		 6,757
47,271
54,028
(21,007)		 2024
£
1,400,000
1,400,000
33,021
(158,277)
1,274,744
-
1,274,744
1,274,744		 4,014
120,226
124,240
(5,923)		 2023
£
118,611
118,611
118,317
-
236,928
-
236,928
236,928

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Rev Canon Dr Matthew Rhodes

The notes on pages 9 to 21 form part of these financial statements.

Page 8

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1. Constitution

For many years the Charity had been run as a Charitable Trust. On 22 June 2023 a new Charitable Incorporated Organisation (CIO) was formed, also named Ranmoor Parish Centre Trust, with registered charity number 1203685.

In July 2023 the Trustees resolved to close the old Charitable Trust (charity no 511649) and to transfer the freehold property at 5 Ranmoor Park Road and other assets to the new CIO. The Property was transferred in August 2023 and 2 new Caf Bank accounts were opened in October 2023 and the old Charitable Trust Bank accounts were closed in March 2024. The old Charitable Trust was removed from the register by the Charity Commission on 22 May 2024. Merger accounting has been used in these financial statements to reflect the substance of the transfer from the unincorporated charity to the new CIO. The assets, liabilities and funds of the combining charities are presented as though they had always been part of the same reporting charity.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Ranmoor Parish Centre Trust 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.

2.2 Going concern

The financlal statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of Income and expenditure for 12 months from authorising these financial statements. The budgeted Income and expenditure Is sufficient with the level of reserves for the charity to be able to continue as a going concern

2.3 Income

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 income receivable can be measured reliably.

Page 9

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.4 Expenditure

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 staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 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.

Page 10

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation

Freehold land and buildings

In 2024 the Trustees have adopted a new accounting policy with respect to Freehold land and buildings. For 2023 comparatives, the policy was as follows:

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

For 2024 and henceforth, the policy is:

Freehold land and buildings are held at valuation. Depreciation is not provided on buildings. It is Ranmoor Parish Centre Trust's policy to maintain the property in good repair and, as a consequence the value of the property is not being reduced significantly by the passage of time. The trustees carry out annual impairment reviews to ensure the carrying value of the freehold property remains appropriate.

Fixtures and fittings

For all other classes of tangible fixed assets, the policy remains:

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged to Fixtures and fittings so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Freehold property - Nil - Fixtures and fittings 25% straight line

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 11

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

2.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Fund accounting

General funds are unrestricted 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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

3. Income from charitable activities

Room hire
Flat rental
Contribution from St John's Ranmoor P.C.C
Donations
Total 2023		 Unrestricted
funds
2024
£
36,712
9,800
8,375
-
54,887
48,973		 Total
funds
2024
£
36,712
9,800
8,375
-
54,887
48,973		 Total
funds
2023
£
30,243
12,210
6,500
20
48,973

Page 12

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

4. Investment income

Bank and CBF Deposit interest
Total 2023		 Unrestricted
funds
2024
£
994
191		 Total
funds
2024
£
994
191		 Total
funds
2023
£
191

5. Analysis of expenditure by activities

Charitable activities
Total 2023		 Activities
undertaken
directly
2024
£
84,152
49,281		 Total
funds
2024
£
84,152
49,281		 Total
funds
2023
£
49,281

Analysis of direct costs

Page 13

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

5. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Contribution to wages and NIC
Cleaning expenses
Gardening
Insurance
Light, heat and water
Telephone
Computer, postage and stationery
Repairs, maintenance and equipment
Sundry expenses
Professional charges
Flat expenses
Mortgage interest
PCC loan interest
Independent examiner's remuneration
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts		 Total
funds
2024
£
17,366
8,988
2,343
3,176
5,640
2,239
688
21,268
179
14,789
2,019
3,924
1,533
84,152
2024
£
1,800		 Total
funds
2023
£
16,763
4,637
85
2,943
3,782
1,909
1,446
14,316
1,608
1,792
-
-
-
49,281
2023
£
816

6. Independent examiner's remuneration

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 14

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

8. Tangible fixed assets

Cost
At 1 April 2023
Additions
Revaluations
At 31 March 2024
Depreciation
At 1 April 2023
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold
property
£
118,611
215,302
1,066,087
1,400,000
-
-
1,400,000
118,611		 Fixtures and
fittings
£
25,155
-
-
25,155
25,155
25,155
-
-		 Total
£
143,766
215,302
1,066,087
1,425,155
25,155
25,155
1,400,000
118,611

A building project was carried out over the first 6 months of the year to refurbish the 2 upstairs flats in the charity's property at 5 Ranmoor Park Road at a cost of £215,302. On completion of the project the 2 flats were let commercially at market rents.

In September 2023 the freehold property was valued by SMC Brownill Vickers, Chartered Surveyors, at £1,400,000. This valuation has been included in the Charity's accounts at 31 March 2024.

The charity has adopted a policy of revaluation for the Freehold Property class of tangible fixed assets for the year ending 31 March 2024. The carrying amount under the cost model of the assets which have been revalued would have been £333,913 (2023 - £118,611 ) .

Page 15

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

9. Debtors

Trade debtors 2024
£
6,757
6,757		 2023
£
4,014
4,014

10. Creditors: Amounts falling due within one year

Mortgage loan
Trade creditors
Accruals		 2024
£
1,723
17,484
1,800
21,007		 2023
£
-
5,107
816
5,923

11. Creditors: Amounts falling due after more than one year

Mortgage loan

2024 2023
£ £
158,277 -

In November 2023, in order to fund the project to refurbish the two upstairs flats, the Trustees entered into a mortgage loan from Kingdom Bank for £160,000 over a term of 30 years. Kingdom Bank have a first legal charge over the charity's freehold property at 5 Ranmoor Park Road. The loan carries interest only for the first 12 months and thereafter interest and capital. The interest rate is set at 6.55%.

Page 16

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

12. Statement of funds

Statement of funds
Statement of funds - current year
Balance at 1
April 2023
£
Unrestricted
funds
Designated funds
Building Fund
147,225
General funds
General Funds
89,703
Total Unrestricted
funds
236,928		 Income
£
-
55,881
55,881		 Expenditure
£
-
(84,152)
(84,152)		 Transfers
in/out
£
1,092,775
(1,092,775)
-		 Gains/
(Losses)
£
-
1,066,087
1,066,087		 Balance at 31
March 2024
£
1,240,000
Unrestricted
funds
Designated funds
Building Fund
General funds
General Funds
Total Unrestricted
funds
34,744
1,274,744

The Building Fund represents the valuation of the freehold property less the mortgage loan at 31 March 2024. All fund balances are regarded as unrestricted.

Page 17

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

12. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Building Fund
General funds
General Funds
Total Unrestricted funds		 Balance at
1 April 2022
£
147,225
Balance at
1 April 2022
£
91,972
239,197		 Income
£
-
Income
£
49,164
49,164		 Expenditure
£
-
Expenditure
£
(49,281)
(49,281)		 Gains/
(Losses)
£
-
Gains/
(Losses)
£
(2,152)
(2,152)		 Balance at
31 March
2023
£
147,225
Balance at
31 March
2023
£
89,703
236,928

13. Summary of funds

Summary of funds - current year

Designated funds
General funds		 Balance at 1
April 2023
£
147,225
89,703
236,928		 Income
£
-
55,881
55,881		 Expenditure
£
-
(84,152)
(84,152)		 Transfers
in/out
£
1,092,775
(1,092,775)
-		 Gains/
(Losses)
£
-
1,066,087
1,066,087		 Balance at 31
March 2024
£
1,240,000
34,744
1,274,744

Page 18

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

13. Summary of funds (continued)

Summary of funds - prior year

Designated funds
General funds		 Balance at
1 April 2022
£
147,225
91,972
239,197		 Income
£
-
49,164
49,164		 Expenditure
£
-
(49,281)
(49,281)		 Gains/
(Losses)
£
-
(2,152)
(2,152)		 Balance at
31 March
2023
£
147,225
89,703
236,928

14. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2024
£
1,400,000
54,028
(21,007)
(158,277)
1,274,744		 Total
funds
2024
£
1,400,000
54,028
(21,007)
(158,277)
1,274,744

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
118,611
124,240
(5,923)
236,928		 Total
funds
2023
£
118,611
124,240
(5,923)
236,928

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RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

15. Related party transactions

As stated in the policies and objectives section of the Trustees' Report the Charity provides the administration and social facilities for the Ecclesiastical Parish of St John the Evangelist, Ranmoor, Sheffield (charity number 1135432), some of the trustees are also members of the PCC. The charity received contributions totalling £8,375 (2023: £6,500) from the PCC during the year and made contributions to them for wages and NIC of £17,366 (2023: £16,763). As at March 2024 there was an amount owed to St John's within creditors of £2,778 (2023: £4,362). Within the year, the Charity also took out and repaid a loan from the Ecclesiastical Parish of St John the Evangelist, Ranmoor. The loan amount was £105,000 which was repaid in full within the year, alongside an interest payment of £1,533.

16. Merger accounting

Ranmoor Parish Centre Trust was registered as a charitable incorporated organisation ('CIO') with registration number 1203685 on 22 June 2023.

The Ranmoor Parish Centre Trust unincorporated charity with registration number 511649 resolved to transfer assets and liabilities to the new CIO on 12 July 2023 and as such merger accounting has been used in these financial statements. The assets, liabilities and funds of the combining charities are presented as though they had always been part of the same reporting charity.

The results of the combining charities pre and post merger have been disclosed in the notes below in line with SORP (FRS 102) requirements.

Analysis of principal SOFA components for current year

Unincorpora
ted charity
(pre-merger)
2024		 CIO (pre-
merger)
2024		 CIO (post-
merger)
2024		 Combined
total
2024
£ £ £ £
Total income 11,473 - 44,408 55,881
Total expenditure (15,644) - (68,508) (84,152)
Net income/(expenditure) (4,171) - (24,100) (28,271)
Gains/(losses) - - 1,066,087 1,066,087
Net movement in funds (4,171) - 1,041,987 1,037,816

Page 20

RANMOOR PARISH CENTRE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

Analysis of principal SOFA components for prior year

Unincorpora
ted charity
2023		 CIO
2023		 Combined
total
2023
£ £ £
Total income 49,164 - 49,164
Total expenditure (49,281) - (49,281)
Net income/(expenditure) (117) - (117)
Gains/(losses) on investments (2,152) - (2,152)
Net movement in funds (2,269) - (2,269)
Total funds brought forward 239,197 - 239,197
Total funds carried forward 236,928 - 236,928
Analysis of net assets at the date of merger Unincorpora
ted charity
at 12 July
2023		 CIO at 12
July 2023		 Combined
total at 12
July 2023
£ £ £
Net assets 232,757 - 232,757
Represented by:
Restricted funds - - -
Unrestricted funds 232,757 - 232,757
Total funds 232,757 - 232,757

Page 21