The Manchester Guardian Society Charitable Trust
Registered Charity Number 515341 Trustees Annual Report & Accounts 31st March 2024
Registered Charity Number: 515341
The Manchester Guardian Society Charitable Trust 31[st] March 2024
| The Manchester Guardian Society Charitable Trust 31st March 2024 | |
|---|---|
| Contents | |
| Legal and Administrative Information | 1 |
| Trustees’ Annual Report | 2 |
| Trustees’ responsibilities in relation to the financial statements | 5 |
| Independent Auditor’s Report to the Trustees of the Manchester Guardian | |
| Society Charitable Trust | 6 |
| Statement of Financial Activities for the year ended 31 March 2024 | 10 |
| Balance Sheet at 31 March 2024 | 11 |
| Notes to the Financial Statements | 12 |
The Manchester Guardian Society Charitable Trust 31[st] March 2024
Legal and Administrative Information
| Trustees | W Smith | Resigned 4 March 2024 |
|---|---|---|
| (Chair to 4 December | ||
| 2023) | ||
| D Hawkins | ||
| (Chair from 4 December | ||
| 2023) | ||
| S Dixon | ||
| S Birtles | ||
| L Worsley | ||
| P Griffiths | ||
| P Horton | Appointed 4 December 2023 | |
| Resigned 4 March 2024 | ||
| S Lomas | Appointed 3 June 2024 | |
| K Wilson | Appointed 3 June 2024 | |
| M Walmsley | Appointed 3 June 2024 | |
| A Dale | Appointed 3 June 2024 | |
| K Sheppard | Appointed 3 June 2024 | |
| Secretary | Mrs E Willder, FCMA, CG(Affiliated) | |
| Beyond Profit Ltd | ||
| Registered Address | G104, Bolton Arena | |
| Arena Approach | ||
| Horwich | ||
| Bolton, BL6 6LB | ||
| Charity Number | 515341 | |
| Auditors | Royce Peeling Green Limited | |
| The Copper Room | ||
| Deva City Office Park | ||
| Trinity Way | ||
| Manche | ||
| Bankers | CAF Bank | NatWest Bank |
| 25 Kings Hill Avenue | 19 Market Street | |
| Kings Hill | Manchester | |
| West Malling | M1 1WR | |
| Kent | ||
| ME19 4JQ | ||
| Investment Advisers | Castlefield Investments | CCLA |
| 1 Portland Street | 1 Angel Lane | |
| Manchester | London | |
| M1 3BE | EC4R 3AB |
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
Trustees’ Annual Report
The Trustees present their annual report and financial statements of the charity for the period ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 12 to the financial statements and comply with the charity’s Trust deed, 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 published on 16 July 2014, effective 1 January 2019 and including subsequent editions.
Structure, Governance and Management
The Trust was an unincorporated charity constituted under a Trust deed dated 12 June 1984, amended 20 January 2066 and 4 September 2023 with the registered charity, number 515341. The objects of the Trust, as defined in the Trust Deed, are for general charitable purposes.
The Trustees are appointed by the Board of Trustees. There are no restrictions on the total number of Trustees, though there should be no less than 6 in number at any one time. At the annual general meeting, one third of the Trustees shall retire in rotation according to seniority of standing and the remaining Trustees then make appointments to fill these vacancies. At the end of the financial year there were five trustees.
The Board keeps the skill requirements for the Trustee body under review and if a Trustee permanently retires, or additional new Trustees are required, the Board recruit the new Trustee(s). New Trustees are normally sought through existing contacts.
The names of the present Trustees and Secretary are set out on page 1.
Key Management Personnel and Remuneration
The Trustees consider the board of Trustees and the Chairman as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the period. Details of related party transactions are disclosed in note 14 to the accounts.
In accordance with the Trust’s Conflict of Interest policy, Trustees must declare their business and personal interests. The Secretary maintains a register of interests and updates it on an annual basis. Trustees must withdraw from decisions where they have a conflict of interest.
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
Objectives and Activities for the Public Benefit
The objects of the Trust are wide, as defined in the Trust Deed and are “to apply the capital and income in perpetuity to or for such charitable institution or institutions or to or for charitable purposes (being purposes which are exclusively charitable according to the law of england and wales) as the trustees shall in their absolute discretion think fit.”
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant-making policy for the period.
Achievements and Performance
During the year the Trust gave grants to 91 organisations totalling £145,707 (2023: £148,810 and 97 organisations) to charities and other charitable organisations operating in Greater Manchester.
Financial Review
For the year to 31 March 2024, the Trust made a surplus of £78,886 (2023:deficit of £460,020) an increase of £538,906 on the previous year. This was primarily due to investments where there was a gain of £140,906 (2023: a loss of £350,523).
Before investments, the deficit was £62,020 (2023: £109,497) The key reason for the variance is due to higher dividends being received.
The Statement of Financial Activities is shown on page 10 and the Balance Sheet is shown on page 11.
Investment Policy and Performance
The Trustees may invest the trust funds in the purchase of or at interest upon the security of such stocks, funds, shares, securities or other investments or property of whatsoever nature or wheresoever situate as they shall in their absolute discretion think fit and may at any time and from time to time vary such investments for others of a like nature. The Trustees take overall responsibility for investments but delegate the responsibility for management of the investments to professional managers.
During the period the Trust tendered for its investment advisors and CCLA were appointed in December 2023. The transfer of assets from Castlefield Investments to CCLA began in March 2024 with the majority being completed in the financial year.
The Trustees have an investment policy with the investment managers that is reviewed on an annual basis.
Reserves Policy
The Trustees maintain one unrestricted fund.
The Trustees' policy is to distribute the whole of the income surplus provided that sufficient suitable applications have been received, and in addition to make distributions out of income surpluses brought forward and, as the trust deed permits, capital where the Trustees consider that there are additional applications which merit
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
their support. This policy is subject to the Trustees' overriding aim which is to maintain and improve capital reserves to continue to fund charitable activities.
At 31 March 2024, the Trust’s free reserves were £5,053,857.
For and on behalf of the Trustees
D Hawkins
Chair of Trustees 2 December 2024
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
Trustees’ responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustees’ Annual Report and 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 and Wales requires the Trustees to prepare financial statements for each financial period 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:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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 Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Provision of information to the auditor
So far as each of the Trustees is aware at the time the report is approved
-
There is no relevant audit information of which the Charities’ auditor is unaware and
-
The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
Approved by the Trustees on 2 December 2024 and signed on their behalf by:
D Hawkins, Chair of Trustees
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
Independent Auditor’s Report to the Trustees of the Manchester Guardian Society Charitable Trust
Opinion
We have audited the financial statements of The Manchester Guardian Society Charitable Trust (the ‘Trust’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
-
give a true and fair view of the state of the charity’s affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Trust’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
-
the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the statement of trustees' responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the charity, we identified that the principal risks of noncompliance with laws and regulations related to the Charities Act 2011, the Charities Statement of Recommended Practice, pensions legislation, employment regulation and health and safety regulation, anti-bribery, corruption and fraud, money laundering, non-compliance with implementation of government support schemes relating to COVID-19, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006.
We evaluated the trustees’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to use of restricted funds, and significant one-off or unusual transactions.
Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:
-
Discussing with the trustees and management their policies and procedures regarding compliance with laws and regulations;
-
Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and
-
Considering the risk of acts by the charity which were contrary to applicable laws and regulations, including fraud.
Our audit procedures in relation to fraud included but were not limited to:
-
Making enquiries of the trustees and management on whether they had knowledge of any actual, suspected or alleged fraud;
-
Gaining an understanding of the internal controls established to mitigate risks related to fraud;
-
Discussing amongst the engagement team the risks of fraud; and
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Addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
Other matters
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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)" (as amended) 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.
This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Royce Peeling Green Limited
Royce Peeling Green Limited (Dec 3, 2024 09:34 GMT)
Royce Peeling Green Limited ......................... 03/12/24 Chartered Accountants Statutory Auditor
The Copper Room Deva City Office Park Trinity Way Manchester M3 7BG
Royce Peeling Green Limited is eligible for appointment as auditor of the Trust by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
Statement of Financial Activities for the year ended 31 March 2024
----- Start of picture text -----
Unrestricted funds Unrestricted funds
31 March 2024 31 March 2023
Notes £ £
INCOME AND ENDOWMENTS
Investment income 2 124,523 75,822
Other income 36 43
TOTAL INCOME 124,559 75,865
EXPENDITURE
Raising funds 3 24,655 24,730
Charitable acitivities 4 161,924 160,632
TOTAL EXPENDITURE 186,579 185,362
Net (expense)/income and net movement in
(62,020) (109,497)
funds before losses on investments
Net gains/(losses) on investments 140,906 (350,523)
Net movement in funds 78,886 (460,020)
Total funds brought forward 13 4,974,971 5,434,991
Total funds carried forward 13 5,053,857 4,974,971
----- End of picture text -----
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
Balance Sheet at 31 March 2024
----- Start of picture text -----
Notes 31 March 2024 31 March 2023
£ £
FIXED ASSETS
Investments 9 4,969,543 4,811,779
4,969,543 4,811,779
CURRENT ASSETS
Debtors 10 46,296 -
Cash at bank 11 47,293 175,443
93,589 175,443
LIABILITIES
Creditors: Amounts falling due within one year 12 (9,275) (12,251)
NET CURRENT ASSETS 84,314 163,192
NET ASSETS 5,053,857 4,974,971
THE FUNDS OF THE CHARITY
Unrestricted funds 5,053,857 4,974,971
TOTAL FUNDS 13 5,053,857 4,974,971
----- End of picture text -----
The notes on pages 12 to 21 form part of these accounts.
These financial statements were approved by the board of Trustees and authorised for issue on 2 December 2024 and were signed on its behalf by:
Diane Hawkins, Chair of Trustees
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
Notes to the Financial Statements
1) Accounting Policies
a. Basis of Accounting
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 effective 1 January 2019 and the Financial Reporting Standard Applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011.
The Trust 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 accounts are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The Trust constitutes a public benefit entity as defined by FRS 102.
b. Going Concern
The Trustees believe there are adequate resources which will enable the Trust to meet its liabilities for the foreseeable future. For this reason, the Trustees have adopted the going concern basis in preparing the financial statements.
c. Investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date of the market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the period.
d. Irrecoverable Vat
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
e. Funds Structure
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
f. Income Recognition
Dividends received from investments are credited by reference to their ex-dividend date. Other income is recognised when it is probable that the income will be received, and the amount of income receivable can be measured reliably.
g. Expenditure Recognition
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
accruals basis and has been allocated or apportioned under headings that aggregate all costs related to the category.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-period grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.
h. Costs of Generating Funds
The costs of generating funds consist of investment management fees.
i. Charitable Activities
Costs of charitable activities include grants payable as shown in note 5.
j. Realised Gains and Losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Unrealised gains are calculated as the difference between the market value at the period end and opening market value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
k. Key estimates and accounting judgements
In applying the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Trustees’ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates ad assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods, if the revision affects both current and future periods.
There are no key estimates and judgements.
l. Taxation
The Trustees consider that requirements for the exemption from taxation set out in the Income Tax Act 2007, Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 are met and, therefore, no provision is made for taxation.
m. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
n. 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.
o. Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
2) INVESTMENT INCOME
| Unrestricted funds 31 March 2024 £ Castlefield Partners 92,598 CCLA 31,925 124,523 |
Unrestricted funds 31 March 2023 £ 75,822 - 75,822 |
|---|---|
3) RAISING FUNDS
| Investment management fees | Unrestricted Funds Unrestricted Funds 31 March 2024 31 March 2023 £ £ 24,655 24,730 24,655 24,730 |
|---|---|
4) CHARITABLE ACTIVITIES
| Audit fees Secretarial fees Website costs Bank charges Grants distributed (see note 5) |
Unrestricted Funds 31 March 2024 £ 4,090 12,060 - 67 16,217 145,707 161,924 |
Unrestricted Funds 31 March 2023 £ 3,480 8,277 65 - |
|---|---|---|
| 11,822 | ||
| 148,810 | ||
| 160,632 |
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The Manchester Guardian Society Charitable Trust 31[st] March 2024 5) ANALYSIS OF GRANTS
31 March 2024
| 1st Denton Boys' Brigade 1st Pendlebury Guides 1stStretford (Longford) 2nd Stalybridge Scout Group 3rd Swinton Brownies 4th Denton Scouts 11th Bolton Bank Top Guides 19th Wigan Town Brownies Action Station Northwest Community Interest Company Ark of Hope Aspire 2 Age AutiSK BASIC Beautiful Mind BEE TOGETHER COMMUNITY CE Better We CIC Bolton Adult Autism Support Booth Centre Boxing For Better C.I.C. Breighmet Men in Sheds Bridging the Gap CARING AND SHARING Cheadle Heath Community Association Christ Church Chadderton Community Bike Kitchen Ci Create Bolton Creative Living Centre Demesne Community Association English National Opera Fallowfield Library and Community Resource Families and Babies Federation of Jewish Services Fur Clemt CIC Girlguiding Urmston Division Grafton Centre Development Greater Manchester Army Cadet Force Growing Together Levenshulme Happy Smiles Training CIC Hidden Treasure Trust CIO Humans MCR Hyde Festival Association Jigsaw Key4Life CIO Knit, Natter & Creative Craft Club Leigh Film Society CIO Lifeline Community Ambulance C.I.C Little Hulton and Walkden Neighbourhood Make 2nds Count Manchester Action On Street Health Manchester Carers Forum Manchester Central Foodbank Total to carry forward |
£ 500 2,000 500 500 500 500 500 500 2,000 1,400 500 1,000 2,250 1,340 2,537 1,000 2,000 2,500 800 1,000 2,000 2,000 1,000 1,000 1,000 2,000 1,500 1,500 1,500 1,500 1,700 2,000 2,500 300 1,000 3,500 2,000 2,000 500 2,000 1,500 2,000 2,000 500 1,000 2,000 1,000 1,000 3,500 1,000 2,000 |
|---|---|
| 73,827 |
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
5) ANALYSIS OF GRANTS (CONTINUED)
| Total to carried forward North West Pre-hospital Critical Care Old Trafford Table Tennis Club Oldham Bethel Church Grant Oldham Pride Once upon a smile Perry's Pantry Plattbridge Community Centre Poland Syndrome Support Group Reach Family Project Read Easy Wigan Borough Revolving Doors Salford Community Leisure Salford Families in Need Meals Project Salford Loaves and Fishes Smallshaw Hurst Community Action Group SPRINGHILL HOSPICE St Gabriel's Place of Welcome St Johns ABC Chorlton STITCHED UP COMMUNITY BEN Stockdales of Sale Stockport Canal Boat Trust Stockport Sea Cadets Stretford Cricket Club Talbot House Support Centre Tall Ships Youth Trust Team Mates The Destitution Project THE EPIPHANY TRUST The Reporters Academy The Royal Artillery Association The Social Network For Se Grant The Veterans Food Company Westwood and Coldhurst WHAG Whizz-Kidz Wigan & Leigh Men Cap Society Wigan Rotary Club Willow Wood Hospice Wood Street Mission Youth Leads UK |
31 March 2024 £ 73,827 1,000 630 1,000 600 2,000 1,000 1,500 2,000 500 1,500 3,500 1,000 2,500 2,000 2,000 2,200 1,000 2,000 1,000 3,000 3,500 2,000 1,000 2,000 1,000 500 3,500 3,000 3,500 500 1,000 1,500 2,000 1,000 2,500 1,500 350 4,100 3,500 2,000 |
|---|---|
| **145,707 ** |
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
5) ANALYSIS OF GRANTS (CONTINUED)
Prior year comparison
| 31 March 2023 | |
|---|---|
| £ | |
| 17th Rochdale, 1st Wardle Scouts |
250 |
| Drywave Recovery CIC |
500 |
| Kidscape |
500 |
| Chelwood Foodbank Plus |
500 |
| Salford Eagles FC CIC |
500 |
| Aim 4 Hope |
500 |
| Bramhall Methodist Church |
500 |
| Clayton Villa JFC |
500 |
| South Manchester Down Syndrome Support Group |
500 |
| St Anne’s Brownies |
500 |
| Acting on Impulse |
500 |
| Bolton Council The Mayor's Charity Appeal |
500 |
| Derker Community Gardens |
500 |
| Firswood Scouts - 25th Stretford |
500 |
| Deeplish Community Centre |
500 |
| Manleigh CIC |
500 |
| Mayor of Oldham Appeal Committee |
500 |
| Mayor of Rochdale Charity Appeal |
500 |
| Old Moaties |
500 |
| St Mark's Church |
500 |
| Church Action on Poverty |
1,000 |
| Hits Radio Cash for Kids |
1,000 |
| Justlife Foundation |
1,000 |
| Levenshulme Old Library CIC |
1,000 |
| REDFOLIO Community Interest Company |
1,000 |
| She Leads for Legacy |
1,000 |
| SRMD Manchester (Shirmad Rajchandra) |
1,000 |
| The Bond Board |
1,000 |
| Walkden Amateur Boxing Club |
1,000 |
| All Arts and Media (All FM) |
1,000 |
| InterAct Stroke Support |
1,000 |
| Outreach |
1,000 |
| STUFF |
1,000 |
| TLC |
1,000 |
| Brave Church |
1,000 |
| Collaborative Women UK CIC |
1,000 |
| Friends of the Trans Pennine Trail |
1,000 |
| Rainbow Haven (East Manchester Community Association | 1,000 |
| SEN Family's Support Group |
1,000 |
| Burnage Buddies |
1,000 |
| Fatima Womens Association |
1,000 |
| Gorton Visual Arts Group |
1,000 |
| M6 Theatre Company |
1,000 |
| Rochdale Brorough Shopmobility |
1,000 |
| Rock It Bolton |
1,000 |
| Saint Philips Chapel Street |
1,000 |
| Smart Works Greater Manchester |
1,000 |
| Crossroads Carers Support Group |
1,000 |
| Total to carry forward |
37,750 |
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The Manchester Guardian Society Charitable Trust 31[st] March 2024
5) ANALYSIS OF GRANTS (CONTINUED)
| 5) ANALYSIS OF GRANTS (CONTINUED) | 5) ANALYSIS OF GRANTS (CONTINUED) |
|---|---|
| 31 March 2023 | |
| £ | |
| Total carried forward |
37,750 |
| The Neuromuscular Centre |
1,000 |
| Buile Hill Mansion Association |
1,050 |
| Safe and Free (Safe Networks) |
1,500 |
| Mossley Community Association |
1,500 |
| The Anthony Seddon Fund |
1,500 |
| OmniMusic |
2,000 |
| Bury Society for Blind and Partially Sighted People |
2,000 |
| Early Essentials UK |
2,000 |
| Family Unit Trust |
2,000 |
| Farnworth Baptist Church |
2,000 |
| Freedom from Torture |
2,000 |
| MedEquip4Kids |
2,000 |
| St Vincent de Paul Society |
2,000 |
| Lindley Educational trust |
2,000 |
| Oldham Coliseum Theatre Limited |
2,000 |
| Revitalise Respite Holidays |
2,000 |
| The Irene Taylor Trust |
2,000 |
| TLC St Luke's |
2,000 |
| Criminon |
2,000 |
| Dementia UK |
2,000 |
| Emmaus South Manchester |
2,000 |
| Oldham Community Radio |
2,000 |
| The Multiple Sclerosis Therapy Centre (NW) |
2,000 |
| Dobcross Youth Band |
2,000 |
| Venture Arts |
2,000 |
| Young Lives v's Cancer |
2,000 |
| Sense |
2,500 |
| St Barnabas Church and Centre |
2,500 |
| The Message Trust |
2,700 |
| Little Sisters of the Poor |
2,742 |
| The Hamlet Wigan |
2,756 |
| Reuben’s Retreat |
3,000 |
| Barnabus (Manchester) |
3,000 |
| Emmaus Salford |
3,000 |
| Oldham Greenhill Community Sports and Recreation Club | 3,000 |
| Prevent Breast Cancer |
3,000 |
| Embrace Wigan and Leigh |
3,400 |
| Incredible Education CIC |
3,412 |
| Manchester Deaf Centre |
3,500 |
| Walthew House |
3,500 |
| Together Dementia Support |
3,500 |
| LEAP Children Families and Communities (St Peter's Com | 3,500 |
| Mustard Tree |
3,500 |
| Terence O'Grady Club |
3,500 |
| Seashell Trust |
5,000 |
| St Ann’s Hospice |
5,000 |
| Other - |
3,500 |
148,810
18
The Manchester Guardian Society Charitable Trust 31[st] March 2024
5) ANALYSIS OF GRANTS (CONTINUED)
All grants were made to charitable organisations within Greater Manchester. A total of 91 grants were made in the year (2023: 97).
6) AUDIT FEES
Accountancy fees include an audit fee of £4,000 (2023: £3,570).
7) PAYMENTS TO TRUSTEES
No remuneration was paid and no expenses were reimbursed to the Trustees during the period (2023: nil)
8) INDEMNITY INSURANCE
The Trustees do not hold any indemnity insurance.
9) FIXED ASSET INVESTMENTS
| 1 April^ Additions Disposals Investment gain/(loss) Carrying amount 31 March 2024 |
31 March 2024 31 March 2023 £ £ 4,811,779 5,268,348 5,040,446 307,635 (4,935,978) (371,137) 53,296 (393,067) 4,969,543 4,811,779 4,969,543 4,811,779 |
|---|---|
^ for 2023 the financial year commenced on 6 April 2022
Investments at fair value comprise:
| COIF Charity Funds CFP Castlefield FD CFP Castlefield Sust Eurp First Sentier Inv SI Wldwide Sust B GBP DIS FP Wheb AST Mgt FD FP Wheb Sust FD B Acc CFP Castlefield FD CFP Castlefield Sust UK Sml Liontrust Sus Fut Liontst Sust Futr GBL GTH 2 CFP Castlefield FD CFP Castlefield Real Rtn GN Sarasin Funds ICVC Sarasin Resp GBL Equty P DIS |
31 March 2024 31 March 2023 £ £ 4,750,923 - - 541,228 - 526,703 - 470,167 - 457,356 - 314,730 - 305,299 - 257,392 4,750,923 2,872,875 |
|---|---|
Amount of £4,750,923 (2023: £2,872,875) represented the individual investment holdings in excess of 5% of the total portfolio value.
19
The Manchester Guardian Society Charitable Trust 31[st] March 2024
10) DEBTORS
| 10) DEBTORS | ||
|---|---|---|
| Accrued Income 11) CASH AT BANK Castlefield CAF NatWest |
31 March 2024 £ 46,296 46,296 31 March 2024 £ 1,189 15,861 30,243 47,293 |
31 March 2023 £ - |
| - 31 March 2023 £ 128,642 16,558 30,243 175,443 |
12) CREDITORS: Amounts falling due within one year
| Trade Creditors Accruals |
31 March 2024 31 March 2023 £ £ 1,005 2,400 8,270 9,851 9,275 12,251 |
|---|---|
13) MOVEMENT IN FUNDS
| Unrestricted funds | At 1 April 2023 Incoming Resources Resources expended Revaluation of investments At 31 March 2024 £ £ £ £ £ 4,974,971 124,559 (186,579) 140,906 5,053,857 |
|---|---|
| 4,974,971 124,559 (186,579) 140,906 5,053,857 Prior year comparative At 6 April 2022 Incoming Resources Resources expended Revaluation of investments At 31 March 2023 £ £ £ £ £ Unrestricted funds 5,434,991 75,865 (185,362) (350,523) 4,974,971 |
|
| 5,434,991 75,865 (185,362) (350,523) 4,974,971 |
20
The Manchester Guardian Society Charitable Trust 31[st] March 2024
14) RELATED PARTY TRANSACTIONS
The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2023: £nil).
During the year there were the following related party transactions to organisations where Trustees of the charity are either a Trustee or considered a key individual in the beneficairy. Where such grants are made the relevant Trustee is excluded from the deicision making process:
----- Start of picture text -----
||||
|---|---|---|
|Trustee|Organisation|£|
|Sharman Birtles|Willow Wood Hospice|4,100|
|Greater Manchester Cadet Force|3,500|
|Lorraine Worsley|Families & Babies Charity|1,700|
|Oldham Pride|600|
----- End of picture text -----
For 2023 the total of related party transactions in relation to grants was £15,500.
21
MGS TAR and Accounts
Final Audit Report
2024-12-03
Created: 2024-12-03 By: Emma Willder (emma@beyondprofituk.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAXsfe4RfPn37obJFA1jmYk5-wem0oalpK
"MGS TAR and Accounts" History
Document created by Emma Willder (emma@beyondprofituk.co.uk)
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Document emailed to Carolyn Dutton (cdutton@rpg.co.uk) for signature
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Agreement completed.
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