## FINANCIAL STATEMENT OF ACCOUNTS
for the year ended 31 December 2023
## for
## Mere Brow and District Institute
Registered charity: 502956 (England and Wales)
Mere Brow and District Institute
## Contents of the Financial Statement of Accounts
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|---|---|---|---|---|
|Page|
|Charity|Information|1|
|Income|Statement|2|
|Statement of Financial|Position|3|
|Notes to the|Financial|Statement of Accounts|4|
|Report|of the|Independent|Examiner|7|
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Mere Brow and District Institute
|
## Charity information
TRUSTEES William Hunter John Caunce Warren Hunter Robert Bryan Adrian Pendleton Samuel Caunce REGISTERED OFFICE 65 The Gravel Mere Brow Preston Lancashire PR4 6JX REGISTERED CHARITY 502956 ACCOUNTANTS My Online Accountant Chartered Accountants 83 Ducie Street Manchester M1 2JQ Greater Manchester
1
## Mere Brow and District Institute
## Income Statement
## for the year ended 31 December 2023
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|---|---|---|---|---|
|2023|2022|
|Notes|£|£|
|Revenue|1|62,976|44,179|
|Cost|of sales|(7,658)|(11,303)|
|GROSS|PROFIT|55,318|32,876|
|Distribution|costs|(514)|(905)|
|Administrative|expenses|(69,338)|(56,307)|
|OPERATING LOSS|2|(14,534)|(24,336)|
|Finance|costs|(243)|(357)|
|Other|operating|income|-|3,342|
|LOSS|FOR THE YEAR|(14,777)|(21,351)|
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2
Mere Brow and District Institute
## Statement of Financial Position
## at 31 December 2023
P
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2023 2023 2022 2022
Notes £ £ £ £
FIXED ASSETS
Property, plant and equipment 3 433,133 452,061
433,133 452,061
CURRENT ASSETS
Receivables 4 1,250 UTA
Cash and cash equivalents (4,123) (4,534)
(2,873) (3,763)
CURRENT LIABILITIES 5 (39,611) (30,917)
NET CURRENT LIABILITIES (42,484) (34,680)
CREDITORS: DUE AFTER 1 YEAR 6 (19,617) (31,572)
NET ASSETS 371,032 385,809
2023 2022
Notes £ oa
EQUITY
Retained profit 371,032 385,809
TOTAL EQUITY 371,032 385,809
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The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993) and that an independent examination is needed.
The trustees acknowledge their responsibilities for preparing financial statements which give a true and fair view.
These financial statements have been prepared in accordance with the The Statement of Recommended Practice (SORP) applicable to charities (FRS102) effective 1 January 2019. In accordance with FRS 102 section 1A part 7 a cashflow statement has not been prepared.
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Approved by the rug setlay 2024. For and on behalf of the Trustees:
William Hunter (T:7 //.
Warren Hunter (Trustee)
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.
3
Mere Brow and District Institute
Notes to the Filleted Financial Statements
for the year ended 31 December 2023
F
2 OPERATING LOSS
- 1 ACCOUNTING POLICIES
## Accounting convention
These financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard 102 section 1A for small entities (effective January 2015).
Revenue recognition Revenue represents net invoiced sales of goods, excluding value added tax.
## Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease over the lease term, whichever is the shorter:
- Vehicles, Plant and machinery: Straight-line at a rate of 25.0% per annum - Furniture, Fittings, Tools and Equipment: Straight-line at a rate of 10.0% - 25.0% per annum - Other property, plant and equipment: Straight-line at a rate of 25.0% per annum - Land and Buildings: Land is held at cost and not depreciated; Buildings: Straight-line at a rate of 2.0% per annum
Deferred taxation Provision is made at current rates for taxation deferred in respect of all material timing differences except to the extent that, in the opinion of the directors, there is reasonable probability that the liability will not arise in the foreseeable future.
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|---|---|---|---|---|
|Operating|=|£|
|loss|is stated|after (expensing)/crediting:|2023|2022|
|Depreciation expense on owned assets|(18,928)|(18,389)|
|Operating|lease payments|(2,021)|(1,911)|
|Trustees|emoluments|and|other|benefits|
|-|-|
|The average number of employees|in the year was 0|(2022:|0).|pee|
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4
Mere Brow and District Institute
Notes to the Filleted Financial Statements
3
## for the year ended 31 December 2023
## PROPERTY, PLANT AND EQUIPMENT
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|---|---|---|---|---|---|
|£|£|&|
|Furniture,|fittings|Land and|Total|
|COST|tools and equipment|buildings|
|At|start|of year|196,578|553,986|750,564|
|At end|of year|196,578|553,986|750,564|
|DEPRECIATION|
|At|start of year|(122,208)|(176,295)|(298,503)|
|Expense|for the|year|(10,828)|(8,100)|(18,928)|
|At end|of year|(133,036)|(184,395)|(317,431)|
|NET|BOOK VALUE|
|At end|of year|63,542|369,591|433,133|
|At|start|of year|74,370|377,691|452,061|
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Included in land and buildings is land of £148,984 which is held at cost and not depreciated.
## 4 RECEIVABLES
:
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|---|---|---|---|
|£|£|
|2023|2022|
|Trade|receivables|1,250|771|
|Total|receivables|1,250|771|
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All amounts in the current and preceding year relate to amounts due within 1 year.
## 5 CURRENT PAYABLES
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|---|---|---|---|---|---|
|a|£|
|2023|2022|
|Trade|payables|(329)|(2,093)|
|Accruals|and|deferred|income|(2,942)|(2,863)|
|VAT|(1,498)|(881)|
|Other|payables|(34,842)|(25,080)|
|Total|payables|(39,611)|(30,917)|
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Included in current other payables is a government-backed amortising BBLS loan of £1,000 (non-current payables £6,417). Interest on the loan, initially at cost of £10,000 on 13 May 2020, is at a rate of 2.5% per annum with no interest charged in the first 12 months. Repayment of the loan over 10 years commenced on 14 June 2021.
5
Mere Brow and District Institute
Notes to the Filleted Financial Statements
## for the year ended 31 December 2023
## 6 NON CURRENT PAYABLES
|||£|£|
|---|---|---|---|
|||2023|2022|
|Other|payables|(19,617)|(31,572)|
|Total|noncurrentpayables|(19,617)|(31,572)|
## 7 RELATED PARTIES
Mere Brow Village Hall Ltd, company number 3829441, is a related party by virtue of common control. At the year end included in other payables is £27,842 (2022: £15,580) owed to Mere Brow and District Institute. The balance is due within 1 year.
6
Mere Brow and District Institute
Report of the Independent Examiner
to the Trustees of Mere Brow and District Institute
It is our responsibility to examine the accounts (under section 43 of the Charities Act 1993 (the Act)); and to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act); and to state whether particular matters have come to our attention.
Our examination was Carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and Seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the accounts. You have acknowledged, on the Statement of Financial Position as at 31 December 2023, your duty to ensure that the charity has kept Proper accounting records, and prepare financial statements that give a true and fair view. You also consider that the charity is exempt from the Statutory requirement for an audit. In the course of our examination, no matter has come to our attention which Gives us reasonable Cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: proper accounting records are kept (in accordance with section 41 of the Act); and accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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