REGISTERED CHARITY NUMBER: 233814 REPORT OF THC TRUSTE4 F.S AND UNAUDITED filNANCIAL STATEMEINTS FOR THE YEAR ENDED 31 MARCH 2024 FOR MANCHF,STER DIOCESAN CHURCH OF ENGLAND Manchester Diocesan Council for Social Aid St John's House 155-163 Th¢Ro¢k Bury BL9 OND
MANCHESTER DIOCESAN CHUIICH OF C4 NGLAND CONTENTS OF THI fiNANCIAL STATEMENTS FOR THE YEAR ENDED JI MARCH 20241 Page Report of the Trustees Independent Exaffliner's Report Staternent of Fin#neial Activities Balan¢e Sheet Notes to the Financial Statemcnts 9 to 13 Detailed Statement of Financial Activities 14
MANCHESTER DIOCESAN CHURCH OF fi.NGLAND iirÉ POR'I. I)F'I'HE TIIUSTEEI S FOR THE YEAH EI NDED 31 MARCH 2024 The tiustees piysent tlicii. report with tl)e financial %tatcineiits of the cl)arity forthe year cnded 31 March 2024. The trustees have adopted the pi'ovisions of Accounting and R¢porting by Chai'ities.. Stateinent of Rccoinmended Practice gpplicable to charities prepai'ing tlieir accounts in accordance with the Financial Repoiling Standard applicable in the UK and Kepublic of Ireland (FRS 1021 (effective l January 2019). OBJECTIVES AND ACTIVITIEIS Objeetives aiid 9im5 The objective of the cl)arity is to support and further all or any chai'itable activates caled out in conneetion with the Church of England in the Diocese of Manchestei.. The th]ee main objectives are.. The promotion of temperance and of higher standards of moral life in the individual, the family 8nd the ¢oininunity' The iestoration of the intemperate or delinquent and those addicted to drugs or alcohol or gaming, or indeed in need of help.. and The irlief of distress or suffei'ing arising from delinquency or intemperance or addiction. Significant activities The Trust turirntly has two ndIng streains.. Small Grants Applicgnts may apply to the small grants for one-off funding up to £8,000 to 5UPPOrt a specific project. The tTUStees made grants of £48,314 dursng the year. Large Grants The majority of the Trust's activity is carried out through the Large Grants Programme. The TNstees centlY make grants, in line with the objects of the charity, for up to three years. usually noi exceeding £30.000. This year the Trustees made 9 sinall grants totalling £48,314. Six new large grants were awarded for £30,000 or less for the years ApTiI 2023 to March 2025. Th¢ beneficiarses are local churche% or chiii'ch alIlated projects whose aiins are to support people and faTnilies living in Challenging and deprived settings, through offering a variety Lif activities and projects based within tlieiT local churches and coininunity centres. In addition. final yoar payinents and 2 year payinents toialling £10,000 were made to PTojects which had been awarded grdnts in 2022 and 2024. The inain grants agreed wer¢.. _ Commitment for Future Year5 Grants In 202312024 Smallshaw Hui'st Eccles Si Andrew Ed¥side St Anne Tlie Bui'y Project Halliwell St Petei's, Bolton St Stephens & All Mai'lyrs Chlirch Oldham Street Angels Holy Trinity Bacup Family Centre St George I'he Mart St Barnabas Gateway M40 St Pauls 8,000 5,250 7,200 2,000 8,000 2,400 20.000 15,000 20,000 19,152 20,000 10,000 15,000 i 0,000 10,186 10,000 i 0,000 12,300 77,486 6,850 133,852 Page 3
MANCHEISI'CI 11 l)IOCEISAN CHUIICH OF ENGLAND RF.PORT OF'I'HI,. TIIUSTECIS FOR THE YEAR EI NDf.D 31 MARCH 2024 OBJF.CTIVES AND ACTIVITIES Grantmaliing In fvrthering the objectives, the trustees have continued to apply the following criteria.. Grant5 will only be given foi. pei'iods up to three yeaTS Revenue and eapital funding can be sought Applications have to incliide provision for on-going InonitOi"1118 and evaluation and show how the proposed grant will make a difference to work envisaged and include an exit sti'ategy aiid wliicli overall will be of publi¢ benefit. Grants are only tnade for bids froin OTgani5ations that have adopted and are implementing equal opportunity tx)licies. FINANCIAL REVIEW Principal funding sourc The Charity's woi'k is cntirely reliant on incoine and investment returns froin its endowments. Investment poliey and objectives 7he charily's capital assets are Inanaged by The centt.al Board of finance of the Church of England. which invest$ the rinancial capital on bchalf of the trustees in ethically based investinejits. I'lie Investineni Fiind is specifically designed for long term capital and is invested in equities with a wide divei"5ifJcation of good quality lioldijigs iii the Uniied IlinbFdoin and overseas. It aims at Steadily growing incoine and capital appj'eciation to provide long tei'in protection fiDm inflation. Reserves policy The trustees have adopted a policy of holding in reserve sufficieiit cash funds to Ineet tlie following year's giant making allocation. Fixed asset investments held in the endowment fiind al'e Telained lo meet fiitui'e yeai funding requirements, as incoine from iheTll PlDvides the resoiirces in th¢ unrestricted fund to Ineet future direct cliaTjtable expenditure. STRucfuRE, GOVERNANCE AND MANAGEMENT Gov¢rninE document The charity is controlled by its governing docuinent, a deed of trust and constitutes an unincorporated charity- The charity is regulated by a scheme of the Charity Coinmissioners dated 25 August 1969, amended by their ol'der of 26 April 2001. Organisational structure Ti'ustees serve foi. foul. years after which peri they put theittselve5 forward for re-appointsnent. The trustees arc required to meei two times a year on a half-yearly basis. However, the trustees aiin to ineet quarterly, and have met three times this year. Risli managefflent The trustees havc a duty to identify and revi¢w the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINISTRATIVE DF.TAILS Registered Charity number 233814 Principal address Manchester Diocesan Council for Social Aid St Johii's House 155-163 The Rock Buiy BL9 OND Page 4
INI)f4,PF,Nl)f4,NT r.XAMINF.II'% Il[1 l)OR'I' TO TIIC TRUSTEf.s OF MANCFifiS1'EII I)IOCL4 SAN CklURClI or Ei NGLAND Ind¢peiident examiijer's report to the ti'iistccs ol Maiieh¢sl¢r Dincesaii Church of Ei ngland l i'cport to tlie cliarity ti'ustccs oil Iny exdll)in1c tion of the ac¢ount% of Manclic8tcr DioLesan Chui¢h of Englaiid (the Tiust) foi. the year ended 31 March 2024. Respoiisibtlities 2nd basis of repoi't As tlie charity ti'ustees of tlie Ti'iist you are responsible for the prepaTation of the accounts in accordance with the Tequir¢in¢nts of the Charitics Act 2011 ('the Act.). I r¢poit in respcct of Iny cxainination of the Ti'ust's accounts carried out undei. section 145 of the Act and in cairying out Iny oxainination I have followed all c1pplicable Dire¢tioiis given by the Chai'ity Coininission under section 145(5)Ib) of the Act. Independeiit e%aminer's statement I have coinpletcd Iny cx8mination. I confirm that no Inaterial inatters have come to my aitention in connection with the exainination giving mc causc to believe that in any Inaterial respect- accounting rccoTds were not kept in respect of the Trust as required by Section 130 of the Act. or the accounts do not accord with those records; or the accounts do not comply with tlie applicable requireinents ¢on¢eming the foi'in and content of accounts set out in the Charitie5 (Accounts and Reports) Regulatioiis 2008 other tl)an any iEquireinenl (hat the accounts give a true and fair view which is not a Inatter considei'ed as part of an independent examination. I have no concei'jis and have come across no othcr rnatters in connection with the exainination to which attention should be di'awn thi5 JEPOrt in order to enable a proper undci'standing of the accounts io be reached. Cat]on Pliillip Bliiikhorn, FCA 06 August 2024 Page 6
MANCHESTER DIOCESAN CHURCH OV ENGLAND IIEtpoiiI' or 7'HE TRUSTEES FOR TFIE YC4 AR EIYDED 31 MARCH 2024 Trustees Revd r Adinan Mi's Y MackeiEth Revd J Beauinont Canon H Lightbourne Canon Paul Hutchins (Appointed 10 OctobÈi' 23) Revd DJ. Paul Malcolin SpenLer Monk (Appointed IO, October 2023) The Ven D ShaJple5 (Resigned 31" March 2024) Independeijt Exaininer Canon Phillip Blinkhorn. FCA l Bluiidell Close Uiiswoith Bury BL9 8LH Approved by order of the board of trustees on ..aTid signed on its behalf by.. Mr$ Yvonne Mackereth- Chair of Trustees Page 5
MANCHESTER DIOCEI SAN CHURCH OF F.NGLAND STATE4 MCNT or FINANCIAL ACTIVITIES IOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted fund5 Restricted funds Endowment fund Notes INCOME AND ENDOWMENTS FROfvI Investment income 122,819 122,819 EXPENDITURE ON Charitable activities G17nt Aid 125,800 125,800 106,358 Other 2,847 907 Total 128,647 128,647 107.265 Net gainsl(losse5) on investments 364.808 364,808 158 513 NET INCOMEI(EXPENDITURE) (5,828) 364,808 358,980 (144,397) REI CONCILIATION OF UNDS Total fund5 brought foi'wArd 457.042 4.133,213 4,590,255 4,734,652 TOTAL FUNDS CARRIED FORWARD 451214 4,498,021 4 949 235 4 590,255 Page 7
MANCHE4STEI R DIOCESAN CHURCH OF ENGLAND BALANCE SHEET 31 MARCH 2024 2024 Total fvnds 2023 Total funds Unrestricted fvnds Restricted fiinds Endowmcnt fund Notes FIXED ASSETS Investinents 4,498,021 4,498.021 4,133,213 CURRENT ASSETS Cash at bank 451,214 451.214 457.042 CREDITORS Amounts falling due within one y¢ai' NET CURRENT ASSETS 451214 451214 457 042 TOTAL ASSETS LESS CURRENT LIABILITIES 451,214 4,498,021 4,949,235 4,590,255 NET ASSETS 451,214 4,498,021 4,949.235 4.590,255 FUNDS Unrcstricted funds Endowinent funds 451,214 4,498,021 457.042 4.133.213 TOTAL FUNDS 4.949.235 4 590.255 The financial statements weJE approved by the Board of Tru5tee5 and authorised foj. issue on and were signed on its behalf by= Mi's Yvonne Maekei'eth- Chair of Trustees The notes foi'in part of Ihese financial stateinents Page 8
MANCHESTfi 11 DIOCCISAiY CHURCH OW ENGLAND NOTEI S TO THL filNANCIAL STATEMENTS FOR THE YEIAR ENDED 31 MARCH 2024 ACCOUNTING POLICIEI S Basis of preparing the financial statements The financial stateinents of the ¢hai'ity, which is a public bejiefit eiitity und¢r fRS 102, have been pi'epared in accordance with the Charities SORP (FRS 102) 'Accounting and Repoiting by ChaTltses'. Statement of Recoininended Practice applicable to ¢haTlties prepaTingtheii' accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IIElaiid {FRS 102) (effective l Januaiy 2019),, Financial Reporting Standard 102 The Financsal Repoiting Slandard appliciible in tlie UK and R¢public of Ireland, and the Chdl"ities Act 201 l. The financial stateinents have been prepared under the Iiistoi'ical cost convention, with the exception of investinents which are included at Inarket value, as modified by the revaluation of certain assets. Income All income is recognised ID the Stateinent of Financial Activities once the charity ha5 entitlement to the fund5, It is probable that the income will be received and the amount can be measured reliably. Expcndilure Liabilities aTC recognised as expenditure as soon as there is a legal or constructive obligation c(iinmitting the chai'ity to that expenditure, it is probable that a transfer of econoinic benefits will be required in seiileineiit and the amount of the obligation can be measured reliably. Expenditure is gccounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to paiticular heading5 they have been allocated to activities on a basis consistent with the use of resouTces. GTants offered subject to conditions which have not been Jnet at the year end date are noted as a commitment but not acci'ued as expenditure. Taxation Th¢ charity is exempt from tax on its charitable activities. Fund aeeounting Unrestricted funds ean be used in accordan¢¢ with ihe charitable obje¢tive5 at the discittion of the trnstees. Rostricted fijnds can only be used foi. particular restricted purpose5 Wlthin the objects of the charity. Restrictions arise when specified by the donor OT when funds are raised for particular restTiCted purposes. Furthcr explanation of the nature and purpose of each fund is included in the notes to the f5nancial stateinents. INVESTMENT INCOME 2024 2023 Other fixed asset inv- UnFII Bank Interc5t 119,215 3.604 119,642 1,739 122.819 121,381 Page 9 conlinued...
MANCHLISTF,R DIOCfSAN CHURCH OF ENGLAIYD NOTf4.S TO THr. r4lNANCIAL STAI'EMENTS- coiitiniitd FOR THI YEIAII ENDEI D 31 MARCH 2024 TRUSTEES, REI MUNERATION AND BENEFITS There weir no trustees, reinuneration or othei. benefits for the year ended 31 March 2024. Trustee5' expense5 There wore no trustees, expense5 paid for the year ended 31 March 2024. STAFF COSTS The average monthly nuinber of ejnployees durtng the year was as follows.. 2024 Administration 2023 No employees received emoluments in exce55 of £60.000. COMPARATIVES FOR THE STATEMENT OF FIIYANCIAL ACTIVITIES 2023 Utll'ests'icted funds Resti'icted funds Endowment nd Total funds INCOME AND ENDOWMENTS FROM Investment income 121,381 121.381 EXPENDITURE ON Charitable aetivities GJ?Iit Aid 106,358 106,358 Other 907 907 Tot21 107,265 107,265 Net gains on investments 158 513} 158 513 NET INCOME/(EXPENDITURE) {158,513) (144,397) RECONCILIATION OF FUNDS Total funds brought forward 442,926 4,291,726 4,734,652 TOTAL FUNDS CARRIED FORWARD 457 042 4 133213 4,590,255 Page 10 Continued...
MANCHESTEI R DIOCESAN CHURCH or ENGLAND NOTr.s'ro T14E fiINANCIAL STATEMENTS- coijtiiiued FOR THE YEAR fi NDCI D 31 MARCH 2024 FIXEI D ASSET INVEISTMENTS Listed investinents MARKC¢T VALUE At l Api'il 2023 Revaluations 4,133,213 364,808 At 31 March 2024 4 498,021 NET BOOK VALUE At 31 March 2024 4498 021 At 31 March 2023 4 133213 The charity'5 capital assets air inanaged by The Central Board of Finance of the Church of England, which invests the financial capital on behalf of the irustees ethically based investment5. The Invcshnent Fund is specifically designed for long telln capital and is invested inainly with a wide diversification of good qiiality holdings in th¢ United Kingdoin and overseas. It aims at Steadily growiiig income and capital apprcciation to provide long tem protection froin inflation. At 31 March 2024, 64.73 /0 (2023 61.83Yo) of the Invesbnent Fund was invested i overseas investments. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Taxation and socsal security Other creditors MOVEMENT IN FUNDS 2024 Net ovement in funds Ti'ansfers betwecn funds At 31.3.24 At 1.4.23 Unrestricted funds RBS Sweep Bank account 10,000 10,000 RBS Interest bearing bank account 428,333 {356,500) 71,834 CCLA Deposit fund 18,709 350,671 369,380 457,042 (5,828) 451,214 Endowment funds Endowment fund 4,133,213 364,808 4,498,021 TOTAL FUNDS 4,590,255 112790 4 949,235 Page 11 continued...
MANCHESTE4 R DIOCESAN CHURCH OF ENGLAND NOTF.S TO I'HE FINANCIAL STATf.MENTS- continued FOII THE YEAR ENDEID 31 MARCH 2024 MOVEI MENT IN FUNDS- contiiiued Net movement in funds, included in the above are as follows YIE 3110312024.. Incoining resouires Resouices expended Gains dnd losses Movement in funds Unrestricted fund5 RBS Sweep Bank account RBS Inteirst bearing bank account 121,959 (128,647) (6,688) CCLA Deposit fund 860 860 122,819 {128.647} 15,828) Eiidoiyment funds Endowinent fund 364,808 364.808 TOTAL FUNDS 122,819 128,647 364,808 358 980 Cornparative5 for movement in funds 2023 Nel moveinent in funds TTansfers between funds At 31.3.23 At 1.4.22 Unreslrieted funds Bank account 10,(M)O i 0,000 RBS Interest bearing bank account 414.609 13,724 428J33 Deposit fund 392 18.709 442,926 14,116 Endowment funds 457,042 Endowinent fund 4291,726 (158,513) 4,133,213 TOTAL FUNDS 4 734,652 144,397) 4.590 255 Page 12 contlllEied...
MANCHESTER DIOCESAN CHURCH OF ENGLAND NOTV.S TO THE FINANCIAL STATCI MEINTS- continued FOR THE YEAR EIYDED 31 MARCH 2024 MOVEMENT IN FUNDS- Continued Comparative net Inovement in funds, sncluded in the above are as follow5 2023.. Incninit)g ResouTCCS resources expended Gains and losses Movejnent in funds Uiire5trieted ffuDd5 Baiik aLcount Inteirst beai'ing bank account 120,989 (107265) 13,724 Deposit fund 392 392 121,381 (107,265) 14,Il6 I ndowrnent funds Endowinent fund (158,513) 1158.513) TOTAL FUNDS 121,381 (107,265} (158,513) (144,397} EMPLOYEE BENEFIT OBLIGATIONS A debt arose because the Council for Social Aid (through the Parkfield Hostel Management Committee- a sub- ¢oinmittee} ceased contributing to the fund in March 1993, following the closure of the hostcl. Fiom April 1993 onwards, the TNstees ar¢ responsible for inciEa&es in the forjnei. employees, pensions becausc the Trustees are no longer contribuiing to the fund. 10. RELATED PARTY DISCLOSURES There were no related party transactions for the yeai. ended 31 Marth 2024. FEU DUTIES Feu duties of £2.38 and £2.00 per annum were payable on 22 and 24 Thorntree Street, Leith. The agents have been unable to collect these suins after June 1990 despite several reininders. l-he Trustees have accepted that further income inay not be forth¢oining. but register their interest in the land and pi'operty. Page 13
MANCHII STF.R DIOCEISAN CHURCH OF ENGLAND DETAILE4 D STATF,MENI' or FINANCIAL ACTIV11'1ES FOR THE YEIAR ENDC4 D 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Iiivestm¢nt ineome Other fixed a55Ct inv- UnFII Bank Interest 119,215 3,604 119,642 122,819 121,381 Total ineomitig resources 122,819 121,381 EXPEINDITURE Charitable activitie5 Grants to in5titution5 125,800 106,358 Support costs Finance Wage5 Pensions Bank charges 1,268 1,507 72 835 72 Covernanee costs Accountancy and legal fees 2,847 907 Total resources expended 128,647 107265 Net income/(expenditure) (5,828) Page 14