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2022-12-31-accounts

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2022

A company limited by guarantee

Company Number 1029607

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Contents

Page
Legal and administrative information 1
Report of the Directors/Trustees 2 – 4
Independent Examiner’s Report to the Members 5
Financial Activities (Including Income and Expenditure Account) 6
Balance Sheet 7
Notes to the financial statements 8-9
Portfolio Movements 10
Manchester Domestic Mission Grants 11
Subscriptions from Member churches 11
MUCF, General and Leech Fund Grants 12

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Legal and Administrative information

as at 31 December 2022

Status

The organisation is a charitable company limited by guarantee, incorporated on 3[rd] November 1971. It is registered as a charity (no. 503753). It was granted Trust Corporation status on 18[th] January 1973. The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed by its Articles of Association.

Directors/Trustees

The following served as directors from 1 January 2022 (or from date of appointment) to the date of this report:

Geoffrey Levermore Vince McCully Laura Mary Dobson Jeffrey Gould Rev. Christopher Cody Coyne Mark Pearce Rev. Daniel Crosby

The directors are those members of the parallel unincorporated association who are also members of the company.

Registered Office

Cross Street Unitarian Chapel, Cross Street, Manchester, M2 1NL

Bankers

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

Solicitors

Weightmans LLP, Pall Mall Court, 61-67 King Street, Manchester, M2 4PD

Independent Examiner

Jeremy Bostock of Thompson Wright (Hale) Limited, Chartered Accountants, Spring Court, Spring Road, Hale, Cheshire WA14 2UQ

Investment Manager

Newton Investment Management Limited,

Mellon Financial Centre,160 Queen Victoria Street, London, EC4V 4LA

Page 1

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Report of the Directors/Trustees

for the year ended 31 December 2022

Report of the Directors/Trustees for the year ended 31st December 2022

The directors present their report, with the financial statements of the company, for the year ended 31st December 2022.

1. Structure and objects of the company and its constituent trusts.

The company, which is limited by guarantee, whose registered number under the Companies Acts is 1029607, administers and accounts as sole trustee for four charities: General Fund. (Charity Commission number 503753).

Manchester Unitarian Congregational Fund. (Charity Commission number1032203) Manchester Domestic Mission Society Fund. (Charity Commission number 253233) Leech Fund.

By virtue of its status as a Trust Corporation, it acts as sole trustee of seven churches in the Manchester District; of the Provincial Assembly of Lancashire and Cheshire; it is custodian trustee for another church, and with other trustees is a trustee of two further churches.

2. Public Benefit Statement

The Trustees take into account the Charity Commission guidance on public benefit and believe that the activities of the Trusts are in line with that guidance

3. Origin and objects of the funds

(a) The General Fund is derived from legacies, sale of Unitarian properties in the Manchester District and other funds which have been vested in it.

(b) The Manchester Unitarian Congregational Fund was created by the amalgamation of seven existing charities, the assets arising on the closure of a church, a grant from the Trustees of Flagg Chapel and the consideration for the release of a covenant on land formerly belonging to Swinton Church

The clear income from both these funds is to be applied “towards the upkeep, repair and improvement of churches whose congregations are members of the Manchester District Association, and in and towards the maintenance of services and otherwise furthering the religious, educational and charitable work of the Association”.

(c) The object of the Manchester Domestic Mission Society Fund is “the diffusion of religious and other elevating influences, by Ministry among the poor in Manchester”. In the 19th century the Society employed a missioner and set up schools. Nowadays grants are made to charities that operate in deprived parts of Greater Manchester.

(d) The Leech Fund was set up for the benefit of Ministers in the counties of Northumberland, Lancashire and Cheshire. In practice, it makes grants to ministers and students for the provision of books.

The company invests the financial assets of these Funds in stock exchange securities and deposits at interest.

Page2

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Report of the Directors/Trustees - continued

for the year ended 31 December 2022

4. Organisational and decision-making structure

The Executive Committee consists of the President, Treasurer, General Secretary and up to ten other members. Members other than the officers serve for three years. They are elected at the Annual General Meeting of the Unincorporated Association and meet four times a year, to decide policy, receive reports, and authorise grants. All are unpaid.

The Company is associated with twelve Unitarian churches in the Manchester area which send delegates, two per church plus its minister, to meetings of the parallel Unincorporated Association which also meets four times a year. That body, to which the Executive Committee reports, discusses matters of general interest and aims to support the constituent churches in their religious and social activities. It publishes a quarterly magazine, The Unitarian, which is available as a pdf on their website, www.unitariansmda.org.uk

5. Association with related parties, charities etc.

The charity is associated with the General Assembly of Unitarian and Free Christian Churches, which is the national body, in the United Kingdom, for Unitarians. It is not financially connected. The Association is also represented on Manchester Council of Christians and Jews, and the Standing Advisory Council on Religious Education (SACRE) for East Cheshire and Manchester.

6. Review of activities

Page 3

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Report of the Trustees - continued

for the year ended 31 December 2022

7. Statement concerning major risks

The main risk to the assets of the charity derives from the uncertain world economic situation and any adverse effect this could have on the capital value of its investments and of the income derived from them.

8. Grant-making policy

The General Fund makes grants for building improvements, surveys of its constituent churches and support of special initiatives regarding the finance of ministry.

The Manchester Unitarian Congregational Fund makes grants in aid of the stipends of ministers and for the repair and maintenance of church buildings. Donations are made, mainly to national Unitarian bodies. Grants are considered by the executive committee on their merits, and within the income of the Fund, taking one year with another.

Grants from the Manchester Domestic Mission Society Fund are recommended by the council committee. Its members actively monitor and visit the charities to which the grants are made. Grants from this Fund are intended to improve the lot of the poorer and more disadvantaged residents of Greater Manchester.

The Leech Fund makes grants to students or ministers for the purchase of books.

  1. Directors’ responsibility for financial statements

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing those financial statements, the directors are required to select suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent; prepare the financial statements on a going concern basis unless it is inappropriate to presume that the

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

10. Independent Examiner

The Independent Examiner, Jeremy Bostock of Thompson Wright (Hale) Limited, Chartered Accountants, will be proposed for reappointment at the annual general meeting.

On behalf of the board, August 2023

Page 4

Manchester District Association of Unitarian and Free Christian Churches Incorporated

Independent Examiner’s Report to the Members for the year ended 31 December 2022

I report on the Financial Statements of the company for the year ended 31[st] December 2022. The statements include the financial activities of the following funds:

General Fund Charity Number 0503753 Manchester Unitarian Congregational Fund Charity Number 1032203 Manchester Domestic Mission Society Fund Charity Number 0253233

Respective responsibilities of trustees and the examiner.

As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section145 (5)(b) of the Act, whether particular matters have come to my attention.

Basis of the independent examiner’s report.

My examination was carried out in accordance with the 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement.

In connection with our examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements

(a) to keep accounting records in accordance with section 130 of the Act; and

(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Jeremy Bostock BA(Hons) BFP FCA Thompson Wright (Hale) Limited Chartered Accountants Spring Court Spring Road Hale Cheshire

Date:

Page 5

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Financial Activities (Including Income and Expenditure Account)

for the year ended 31 December 2022

Note
Incoming Resources
(Loss) on sale of shares
Interest received
Subscriptions from member
churches
Investment Income
5
Total Incoming Resources
Resources Expended
Grants
Administration
Total Resources Expended
Net Incoming Resources
6
(Decrease)/Increase
in
value of Investment
Net Movement in Funds
Funds 1st January 2022
Funds 31st December 2022		 General
MUC
MDMS
Leech
Total
Total
Fund
Fund
Fund
Fund
2022
2021
£
£
£
£
£
£
(4,833)
-
-
-
(4,833)
-
55
55
-
300
-
-
-
300
320
14,799
20,884
9,029
229
44,941
43,103
10,321
20,884
9,029
229
40,463
43,423
-
54,304
10,200
225
64,729
67,650
37,172
-
-
-
37,172
42,018
37,172
54,529
10,200
-
101,901
109,668
(26,851) (33,420)
(1,171)
4
(61,438)
(66,245)
(61,095)
(86,215)
(37,273)
(946)
(185,529)
302,032
(87,946)
(119,635)
(38,444)
(942)
(246,967)
235,787
855,616
1,413,517
425,740
11,748
2,706,621
2,470,834
767,670
1,293,882
387,296
10,806
2,459,654
2,706,621

Page 6

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED Balance Sheet at 31 December 2022

Fixed Assets
Tangible fixed assets - Investment Land
Investments
Loans
Current Assets
Debtors
Cash at bank
Less Liabilities falling due within one year
Net current assets
Total net assets
Unrestricted Funds
General Fund
Manchester Unitarian Congregational Fund
Manchester Domestic Mission Society Fund
Leech Fund		 Notes
2
3

4		 2022
2021
£
£
-
-
2,378,774
2,619,137
30,300
43,500
2,409,074
2,662,637
- -
56,976
48,651
(6,396)
(4,667)
50,580
43,984
2,459,654
2,706,621
767,670
855,616
1,293,882
1,413,517
387,296
425,740
10,806
11,748
2,459,654
2,706,621

For the year ended 31st December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to (1) accounting records and (2) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of and its profit and loss for the financial year and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.

These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies’ regime.

These accounts were approved by the Directors on August 2023 and were signed on their behalf by:

– Director

– Director

Page 7

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Notes forming part of the Financial Statements

for the year ended 31 December 2022

1. Accounting Policies

(a) The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at market value, and in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", the Companies Act 2006 and follow the recommendations in Charities SORP (FRS102) applicable for accounting periods commencing on or after 1 January 2016.

(b) Listed investments are included in the balance sheet at their middle market value at the accounting date.

(c) Grants and donations receivable and payable are accounted for when received or paid by the charity.

(d) Dividends and interest on securities and bank deposits are brought into account when received by the charity or its investment manager.

2. Investments

2. Investments
(a) Quoted investments.
 2022
£
2021
£
Opening balance 2,619,137 2,317,105
Add acquisitions in the year, at cost - -
Less sales receipts in year (50,000) -
2,569,137 2,317,105
Add realised profit/ (loss) on Sales (4,833) -
2,564,304 2,317,105
Add Increase in value of investment (185,530) 302,032
Closing balance £2,378,774 £2,619,137
3. Unsecured loans
Oldham Cross Street Chapel
£ £
Balance outstanding at 1stJanuary 2022 22,500 21,000
New loan - -
Addinterest - -
22,500
21,000
Lessrepayments (1,200) (12,000)
Balance outstanding at 31stDecember 2022£21,300 £9,000

Page 8

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN

CHURCHES INCORPORATED

Notes forming part of the Financial Statements (Continued)

for the year ended 31 December 2022

4. Liabilities falling due within one year.2022 2021
£ £
Lay Preachers Association Fund 398 398
Legal fees accrual
- -
Accounts submission fee accrual - 13
General Creditors 3,213 1,606
Independent Examiner’s fee2,785 2,650
£6,396 £4,667

5. Investment Income

Investments 2022 2021 £ £ £ General Fund 14,799 14,799 14,194 MUC Fund 20,884 20,884 20,030 MDMS Fund 9,029 9,029 8,659 Leech Fund 229 229 220 £44,941 £44,941 £43,103

6. Net Incoming Resources for the year are stated after charging:

7. Staff costs and numbers

The average number of employees during the year was 1 (2021 - 1).

8. Taxation

The charitable company is exempt from corporation tax on its charitable activities.

9. Analysis of net assets between funds:




Debtors
Investments
Loans
Cash at bank
Current liabilities







General
Fund
£
-
651,467
30,300
92,299
(6,396)
 MUC
Fund
£
-
1,340,831
-
(46,949)
-
 MDMS
Fund
£
-
377,036
-
10,260
-
 Leech
Fund
£
-
9,440
-
1,366
-
 Total
Funds
£
-
2,378,774
30,300
56,976
(6,396)
-
£2,459,654
**£767,670 ** **£1,293,882 ** £387,296 £10,806

Page 9

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Notes forming part of the financial statements (Continued)

for the year ended 31 December 2022

Portfolio Movements in the twelve months to 31[st] December 2022

Stock
Quantity
31.12.22
Equities
Sustainable Real Return Fund
368,659
Global Income Fund Newton
100,833
Overseas
Growth and Income Fund
712,769
SRI Fund for Charities
295,550
Total Investments		 Cost
Value
£
415,478
150,000
565,478
560,233
287,237
847,470
1,412,948		 Market
Value
31.12.21
£
499,385
280,428
779,813
1,201,015
583,476
1,784,491
2,564,304		 Market
(Decrease)/
Value
Increase in
31.12.22
value
£
£
442,575
(56,810)
294,545
14,117
737,120
(42,693)
1,113,772
(87,243)
527,882
(55,594)
1,641,654
(142,837)
2,378,774
185,530

Page 10

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Manchester Domestic Mission Grants and Subscriptions from member churches

for the year ended 31 December 2022

Manchester Domestic Mission Grants
Barlow Moor Community Assoc.
Oldham Unity Destitution
River Manchester
Tree of Life Centre Wythenshawe
Oldham UK Education and Faith Foundation
Coffee 4 Craig
East Cheshire Mental Health
Subscriptions from Member Churches
Brook Street
Chorlton
Knutsford
Oldham		 2022
£
1,700
1,700
1,700
1,700
1,700
1,700
-
10,200
200
100
-
-
320		 2021
£
2,000
2,000
2,000
2,000
2,000
2,000
-
12,000
-
-
200
120
320

Page11

MANCHESTER DISTRICT ASSOCIATION OF UNITARIAN AND FREE CHRISTIAN CHURCHES INCORPORATED

Stipend and Other Grants

for the year ended 31 December 2022

Manchester Unitarian Congregational Fund
Stipend Grants
Knutsford
Monton
Macclesfield
Urmston
Chorlton
Oldham
Other Grants (incl Covid 19 Grants)
Monton
Unitarian College
Chorlton
Oldham
Knutsford
Urmston
Dunham Road
Norcliffe
Rivington
Dean Row
Hale
Cross Street
Hale Quinquennial
SACTH
Unitarian Youth
Structural survey
Mr Alan Perks
Macclesfield
Total Congregational Fund Grants
Donations
Leech Fund
Book grant
Total grants and donations		 2022
£
1,500
6,000
1,500
5,000
5,000
5,000
24,000
1,500
1,250
8,352
1,500
1,500
2,280
1,500
1,500
1,500
1,500
1,500
-
1,326
30
350
2,066
150
2,500
30,304
54,304
-
225
-
54,529		 2021
£
3,000
6,000
375
5,000
5,000
5,000
24,375
-
-
13,710
4,978
-
-
-
-
11,290
-
-
512
-
785
-
-
-
-
31,725
55,650
-
-
-
55,650

Page 12