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2024-12-31-accounts

Charity registration number 217615 (England and Wales)

MOUNTSORREL RELIEF IN NEED CHARITY

KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Benjamin Davies
Jayne Ilett
Geoffrey Wainwright
Elizabeth Blackshaw
Paul Harris
Penelope Maguire
Nicola Liquorish
Megan Pirt
Colin Resch
Elizabeth Thompson
Nicole Carr
Emma Crossley
Michelle Hought
Charity number (England and Wales) 217615
Principal address PO Box 11158
Leicester
LE8 8WH
Independent examiner Somerbys Limited
30 Nelson Street
Leicester
LE1 7BA
Bankers Natwest Bank Plc
7 Hinckley Road
Leicester
LE3 0TQ
Investment advisors RBC Brewin Dolphin Ltd
Waterfront House
Waterfront Plaza
35 Station Street
Nottingham
NG2 3DQ
CCLA Investment Management Ltd
One Angel Lane
London
EC4R 3AB

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND CONTENTS

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Page
Trustees' report 1 - 7
Independent examiner's report 8
Statement of financial activities 9 - 10
Balance sheet 11
Notes to the financial statements 12 - 20
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MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

Structure, governance and management

Mountsorrel Community Support Fund is an unincorporated, registered charity in England and Wales, governed by a Charity Scheme. The charity comprises the following:

The Charity Commission scheme for the above charities requires that the trustees of these charities are also the trustees of Mountsorrel United Charities.

Charity Commission schemes relating to the above entities are:

The charities detailed above are governed by a board of up to 16 trustees (see Trustees below). For efficiency, the business of Mountsorrel United Charities and Mountsorrel Community Support Fund is combined (and demarcated) at each trustees’ meeting. This Annual Report and Financial Statements relates to the Mountsorrel Community Support Fund only.

Day-to-day administration and bookkeeping are delegated to the Clerk. Grants administration (including liaison with applicants, receiving and processing applications, visits to applicants, grant management and reporting, liaison with suppliers and promotion of the grants available) is delegated to the Coordinator. All grant decisions are made by the board of trustees.

The Clerk and Coordinator both provide services on a self-employed basis. Their remuneration is reviewed annually by the board of trustees.

A professional investment manager is appointed to manage the investments held by the Charity of Hugh Phipps, and provides quarterly written reports.

The charity works closely with Mountsorrel United Charities as its principal funder.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees

The governing documents require that the trustees of Mountsorrel Community Support Fund are the trustees of Mountsorrel United Charities.

The Charity Commission scheme dated 1st September 1993 for Mountsorrel United Charities stipulates that there should be sixteen trustees:

The trustees who held office during the period and those in office since the year-end are:

Co-opted trustees:

Nominated trustees:

Ex-officio trustee:

Appointment, induction and training of trustees

When co-opted trustee vacancies arise, these are openly advertised locally, online and offline. Vacancies for Mountsorrel Parish Council nominated trustees are discussed at meetings of the Parish Council.

When appointed, all new trustees receive an induction pack including governing documents, recent minutes and the latest annual report and accounts. New trustees are also directed to key guidance from the Charity Commission and other bodies, including guidance on the responsibilities of charity trustees. Further induction, training and support may take place in person with the Chair and others as appropriate. Trustees are encouraged to identify and express training needs and external training is facilitated as necessary.

New trustees certify that they are not excluded from acting as trustees, and complete a declaration of interests form.

The Chair and Vice Chair of the trustees are elected annually, at the first meeting each year, as required by the governing document of Mountsorrel United Charities.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities

Mountsorrel Relief in Need Charity

The charity makes grants to provide relief to persons resident in Mountsorrel parish who are in need, hardship or distress. Applications are accepted from individuals and organisations. The grants available are advertised within the parish, through the charity’s website, and are also promoted to agencies and organisations that might refer potential clients to the service. Grants are made for a wide range of items and services to meet specific needs and improve quality of life.

Charity of Hugh Phipps

The Charity of Hugh Phipps makes grants to individuals for the “relief of poor non-conformists” resident in the parishes of Mountsorrel, Thurcaston and Swithland. Trustees interpret "non-conformists" to be members of a protestant church that dissents from the established Church of England. Applications are received through the general application process above and, where identified as eligible for support from the Hugh Phipps charity, a grant is made from the charity’s funds.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

Strategic direction

During the year, the trustees prepared a new 5 Year Strategy and this was adopted in June 2024. This Strategy includes one joint Strategic Objective (shared with Mountsorrel United Charities) and four Strategic Objectives for Mountsorrel Community Support Fund:

Joint Strategic Objective:

Over the next five years we will separate the governance of Mountsorrel Community Support Fund from Mountsorrel United Charities to create a level playing field between the three beneficiary charities.*

Strategic Objectives for Mountsorrel Community Support Fund:

Over the next five years we will:

Progress against the Strategy is monitored at every meeting.

*Mountsorrel Community Support Fund is one of three beneficiary charities of Mountsorrel United Charities. The other two beneficiaries are Mountsorrel Church of England Fund and Mountsorrel Educational Fund.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Meetings

The board of trustees met eight times in 2024. The trustees received cashflow reports to every meeting, together with quarterly income and expenditure accounts and investment reports.

Grants to individuals

In 2024 the trustees considered 142 applications and awarded 115 grants to individuals in need (compared to 150 applications and 118 grants in 2023). Grants awarded during the year amounted to £108,996 (2023 - £131,228) excluding grants to individuals made by the Charity of Hugh Phipps – see below.

Grants to organisations

The trustees awarded three grants to organisations during the year:

Charity of Hugh Phipps

Total grants of £280 were awarded through the Hugh Phipps charity during the year (2023: £225).

Impact

The Coordinator and trustees received unsolicited feedback from applicants throughout the year via text, voicemail, email and handwritten cards, some examples of which are shown below:

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Key developments and activities

Financial review

Financial position

The charity’s total income for the year was £73,755 (2023: £106,095). Charitable income from the charity’s principal funder (Mountsorrel United Charities) was paused for Quarter 1 of the year in order to recoup over-distribution in earlier periods.

Expenditure totalled £182,425 (2023: £197,436), resulting in a net deficit after investment gains of £107,978.

At the year-end, the charity held total assets of £123,227 (2023: £231,205).

Principal sources of funds

The charity’s principal source of income is Mountsorrel United Charities. The charity is entitled to receive one-third of the income of the Mountsorrel United Charities (after expenses) each year.

The Charity of Hugh Phipps has a small endowment, held in investments, which generates some additional income.

Investments

The following statements on investments apply to the Charity of Hugh Phipps.

The charity held investments valued at £15,648 at the year-end (2023: £14,957).

Investment managers are appointed to manage the charity’s endowed investments.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Reserves policy

As at 31st December 2024, the charity held free reserves of £101,326.

Reserves are required to enable the charity to maintain its current activities and to meet its long term aims. Free reserves are the part of a charity’s unrestricted funds that are freely available to spend on any of the charity’s purposes.

It is the policy of the charity to maintain funds that are free reserves at a level that equates to approximately one year’s unrestricted management, administration and support costs, together with an additional reserve to enable the charity to continue grant-making at a typical level in the event of a sudden reduction in income. The target level of reserves for grant-making purposes is approximately 6 months for individual grants and one year for organisational grants.

The trustees will keep the level of reserves in check by reviewing it alongside their quarterly review of the income and expenditure accounts and the cashflow report to every meeting. At the year-end, the reserves held were below the target level as a result of reduced income this year. The trustees aim to work towards building their reserves in the coming year.

In determining the target level of reserves, the trustees have reviewed the risks faced, both short and medium term, to ensure the charity can continue to operate on a going concern basis.

Risk Management

The trustees have examined the major strategic business and operational risks facing the charity. A Risk Register is in place, and this was reviewed during the year.

Plans for future periods

In 2025, trustees plan to:

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Statement of trustees' responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

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 applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.

The trustees' report was approved by the Board of Trustees at their meeting on 11th June 2025.

Jayne Ilett Chair/Trustee

11 June 2025

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MOUNTSORREL RELIEF IN NEED CHARITY

I report to the trustees on my examination of the financial statements of Mountsorrel Relief In Need Charity (the Charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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 financial statements to be reached.

Somerbys Limited

30 Nelson Street Leicester LE1 7BA Date: ............................

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Current financial year
Unrestricted
Endowment
Total
funds
funds
2024
2024
2024
Notes
£
£
£
Income from:
Donations and legacies
3
73,006
-
73,006
Investments
4
-
749
749
Total income and endowments
73,006
749
73,755
Expenditure on:
Investment management costs
5
-
409
409
Charitable expenditure
6
148,504
280
148,784
Governance costs
11
33,232
-
33,232
Total expenditure
181,736
689
182,425
Net gains/(losses) on investments
12
-
692
692
Net income/(expenditure) and movement in funds
(108,730)
752
(107,978)
Reconciliation of funds:
Fund balances at 1 January 2024
210,056
21,149
231,205
Fund balances at 31 December 2024
101,326
21,901
123,227		 Total
2023
£
105,392
703
106,095
71
164,197
33,168
197,436
934
(90,407)
321,612
231,205

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

Prior financial year
Unrestricted
Endowment
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
105,392
-
Investments
4
-
703
Total income and endowments
105,392
703
Expenditure on:
Investment management costs
5
-
71
Charitable expenditure
6
163,972
225
Governance costs
11
33,168
-
Total expenditure
197,140
296
Net gains/(losses) on investments
12
-
934
Net income/(expenditure) and movement in funds
(91,748)
1,341
Reconciliation of funds:
Fund balances at 1 January 2023
301,804
19,808
Fund balances at 31 December 2023
210,056
21,149		 Total
2023
£
105,392
703
106,095
71
164,197
33,168
197,436
934
(90,407)
321,612
231,205

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Fixed assets
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the Charity
Endowment funds
17
Unrestricted funds
18		 2024
£
2,728
149,996
152,724
(45,145)		 £
15,648
107,579
123,227
21,901
101,326
123,227		 2023
£
5,325
240,865
246,190
(29,942)		 £
14,957
216,248
231,205
21,149
210,056
231,205

The financial statements were approved by the trustees on 11 June 2025

Jayne Ilett Chair/Trustee

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 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 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.

1.2 Going concern

The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

1.3 Charitable funds

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

Endowment funds

Endowment funds are subject to specific conditions that the capital must be maintained by the Charity. The income that the capital generates is then awarded by the trustees in eligible cases following applications for grants in accordance with the criteria for the Charity of Hugh Phipps, which is a charity linked to Mountsorrel Relief in Need Charity and combined for reporting purposes.

1.4 Income

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

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. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Donations and legacies

The Charity receives 1/3 of the income of Mountsorrel United Charities, net of costs. This income is recognised when receipt is probable and the amount can be reliably measured.

Investment income

Investments are held by the Hugh Phipps Charity. The income is recognised once received.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.5 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 directly to such activities and those costs of an indirect nature necessary to support them.

Raising funds

These are costs incurred in the management of investments.

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.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

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 the charitable purposes.

1.6 Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss.

1.7 Cash and cash equivalents

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

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.8 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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 effective 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

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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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

Derecognition of financial liabilities

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

2 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 differ 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 affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

3 Income from donations and legacies

4
5
6		 Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Mountsorrel United Charities
73,006
105,392
Income from investments
Endowment
Endowment
funds
funds
2024
2023
£
£
Income from fixed asset investments
749
703
Costs of generating funds
Endowment
Endowment
funds
funds
2024
2023
£
£
Investment management
409
71
Expenditure on charitable activities
Grant
funding
Grant
funding
2024
2023
£
£
Charitable activities
Charitable Expenditure
Grant funding
148,784
164,197
Analysis by fund
Unrestricted funds
148,504
163,972
Endowment funds
280
225
148,784
164,197

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

7
Grants payable
Unrestricted
funds
Endowment
funds
2024
2024
£
£
Grants to institutions:
Soar Valley Money Advice
11,710
-
John Storer Charnwood - Your Store (previously The
Bridge)
17,998
-
Love4Life (previously TwentyTwenty)
9,800
-
39,508
-
Grants to individuals:
Beds, Matresses & Bedding
7,802
-
Charnwood Lifeline
169
145
Clothing
-
-
Debt Relief
-
-
Decorating
17,759
-
Domestic Appliances
23,059
-
Electrical Wiring
891
135
Flooring
17,678
-
Foot Care
1,549
-
Funeral Costs
1,962
-
Furniture
8,332
-
Gardening, Fencing & Ground Clearance
7,649
-
Miscellaneous
9,773
-
Mobility Scooters & Aids
10,175
-
Rent & Utility Arrears
2,198
-
108,996
280
Total
148,504
280
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements		 Total
2024
£
11,710
17,998
9,800
39,508
7,802
314
-
-
17,759
23,059
1,026
17,678
1,549
1,962
8,332
7,649
9,773
10,175
2,198
109,276
148,784
2024
£
1,830		 Total
2023
£
9,000
18,744
5,000
32,744
13,599
382
1,401
180
3,774
32,844
1,244
25,627
675
-
5,449
10,411
16,474
17,178
2,215
131,453
164,197
2023
£
1,740

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

9 Trustees

No trustees (or any persons connected with them) received any remuneration during the current and prior year.

No Trustees have received any reimbursed expenses or any other benefits from the charity during the current and prior year.

10 Employees

There were no employees during the year.

11 Governance costs

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Coordinator's fees 18,096 17,315
Clerk's fees 7,724 7,971
Governance costs 1,942 1,812
Sundry expenses 5,470 6,070
33,232 33,168

12 Gains and losses on investments

Endowment Endowment
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 692 63
Sale of investments - 871
692 934

13 Taxation

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

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

14 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2024 14,957
Valuation changes 692
At 31 December 2024 15,649
Carrying amount
At 31 December 2024 15,649
At 31 December 2023 14,957

Fixed asset investments revalued

The historical cost of these investments was £12,734 (2023: £12,734).

15 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Grant provision
Accruals		 2024
£
504
2,224
2,728
2024
£
7,013
38,132
45,145		 2023
£
5,314
11
5,325
2023
£
1,627
28,315
29,942

16 Creditors: amounts falling due within one year

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

17 Endowment funds

At 1 January At 1 January Incoming Resources Transfers Gains and At 31
2024 resources expended losses December
2024
£ £ £ £ £ £
Permanent endowments
Permanent 21,149 749 (689) - 692 21,901
Previous year: At 1 January Incoming Resources Transfers Gains and At 31
2023 resources expended losses December
2023
£ £ £ £ £ £
Permanent endowments
Permanent 19,808 703 (296) - 934 21,149

Charity of Hugh Phipps

The Permanent Endowment fund comprises of the assets held for the Charity of Hugh Phipps that is a charity linked to Mountsorrel Relief in Need and is combined for reporting purposes. The capital element of the Permanent Endowment fund is not expendable and is used to generate income that can then be awarded as grants to individuals for the "relief of poor-non conformists", as set out in the Trustees' report.

18 Unrestricted funds

At 1
General funds
Previous year:
At 1
General funds		 January
2024
Incoming
resources
Resources
expended
At 31
December
2024
£
£
£
£
210,056
73,006
(181,736)
101,326
January
2023
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
£
301,804
105,392
(197,140)
210,056

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2024

19 Analysis of net assets between funds

Unrestricted
Endowment
funds
funds
2024
2024
£
£
At 31 December 2024:
Investments
-
15,648
Current assets/(liabilities)
101,326
6,253
101,326
21,901
Unrestricted
Endowment
funds
funds
2023
2023
£
£
At 31 December 2023:
Investments
-
14,957
Current assets/(liabilities)
210,056
6,192
210,056
21,149		 Total
2024
£
15,648
107,579
123,227
Total
2023
£
14,957
216,248
231,205

20 Related party transactions

The Trustees of Mountsorrel Relief in Need Charity and the Charity of Hugh Phipps are the same as for Mountsorrel United Charities.

Mountsorrel Relief in Need Charity is entitled to one third of the income received by Mountsorrel United Charities, which is paid over on a regular basis.

During the year, Mountsorrel United Charities allocated Mountsorrel Relief in Need Charity investment income of £73,006 (2023: £105,392). At the balance sheet date the amount due from Mountsorrel United Charities was £0 (2023: £4,759).

MOUNTSORREL RELIEF IN NEED CHARITY AND CHARITY OF HUGH PHIPPS DETAILED SOFA YEAR ENDED 31st DECEMBER 2024

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2024 2023
Relief in Hugh Relief in Hugh
Need Fund Phipps Fund Total Need Fund Phipps Fund Total
£ £ £ £ £ £
Income and Endowments
Investment Income
Income from fixed asset investments - 749 749 - 703 703
Donations
Grants and donations 73,006 - 73,006 105,392 - 105,392
73,006 749 73,755 105,392 703 106,095
Other Income
Bank Compensation - - - - - -
Donation towards equipment - - - - - -
- - - - - -
Total Incoming Resources 73,006 749 73,755 105,392 703 106,095
Charitable Expenditure
Charitable activities
Grants Payable 148,504 280 148,784 163,972 225 164,197
Support Costs - Clerk's Fees 7,724 - 7,724 7,971 - 7,971
Support Costs - Co-ordinator's Fees 18,096 - 18,096 17,315 - 17,315
General Expenses 5,470 - 5,470 6,070 - 6,070
179,794 280 180,074 195,328 225 195,553
Cost of Fund Raising
General Expenses - 409 409 - 71 71
- 409 409 - 71 71
Governance costs
Xero Fees 112 - 112 72 - 72
Examiners Fees 1,830 - 1,830 1,740 - 1,740
1,942 - 1,942 1,812 - 1,812
Total Resources Expended 181,736 689 182,425 197,140 296 197,436
Net Incoming/(Outgoing) Resources (108,730) 60 (108,670) (91,748) 407 (91,341)
Gain/(loss) on investment asset - 692 692 - 934 934
Net Movement in Funds (108,730) 752 (107,978) (91,748) 1,341 (90,407)
Prior year adjustment on Hugh Phipps investment - - - - - -
Balance at 1st January 2024 210,056 21,149 231,205 301,804 19,808 321,612
Balance at 31st December 2024 101,326 21,901 123,227 210,056 21,149 231,205
----- End of picture text -----

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