THE CROSS AND STABLE CHARITIES
( A company limited by guarantee)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31-Mar-23
Registered No 2091997
THE CROSS AND STABLE CHARITIES
REPORT OF THE COUNCIL OF MANAGEMENT
FOR THE Year ended 31st March 2023
The council has pleasure in presenting their report and financial statements for the Year ended 31st March 2023
PRINCIPAL ACTIVITIES
The objects of the company are to further the charitable work of the Church of England, the Methodist Church, the United Reformed Church and the Baptist Church in the Ecumenical Parish of Stantonbury in the City of Milton Keynes through the Management of commercial workshop units at the Cross and Stable.
FINANCIAL POSITION
The company recorded a LOSS of £1,196.28 for the year ended 31st March 2023 (2022 gain £15784 Apart from grants made the charity woud have made a gain of £15,003.72 £00 was spent on renovation. The surplus currently available for distribution in accordance with the terms of the charity deeds amount to £16,209.38
TAXATION
The company is a registered charity (Number 800370) and therefore exempt from taxation.
SHARE CAPITAL
The company does not have a share capital but is limited by guarantee, in accordance with article 7 of the company's Memorandum of Association, liability of the members is limited to five pounds.
COUNCIL OF MANAGEMENT
The persons who have served as members of the council (Directors) during the past year are :
| from | reappointed | resigned | |
|---|---|---|---|
| Ken Brine | 31-May-02 | ### | |
| Revd Andy Jowitt | 1-Dec-03 | ex officio | 15-Oct-17 |
| Paul Brookman | 5-Oct-05 | ### | |
| John Wheaver | 5-Oct-05 | 20-Jun-14 | 9-Feb-15 |
| Peter Green | 1-Dec-07 | 8-Jun-21 | |
| Allice Maynard | 9-Feb-15 | ### | |
| Paul Smith | 15-Oct-17 | ex officio |
In accordance with the Articles of Association the number of members shall not be less than three nor more than six.
| Ken Brine, Secretary | Peter Green, Treasurer |
|---|---|
| 16 Huntley Crescent | 34 North Twelfth Street |
| Campbell Park | Milton Keynes |
| Milton Keynes MK9 3FZ | MK9 3BT |
| 31-May-22 | 10-May-23 |
THE CROSS AND STABLE CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES
Year to 31st March 2022
| INCOME Rents and Service Charges receivable_Note 2_ Service Charges Collected Note 3 Accumulated errors at Property Suite Note 4 Bank Interest received EXPENDITURE Service Charge Items (£6,360.44 Note 3 Insurance Water Rates Electricity Waste Disposal Cleaning Repairs and Redecoration Fire Extinguishers Environmental survey Management Charges Rates Legal Fees - Companies' House Maintenance Renovation Reserve Major Repairs Rent Arrears Write off Note 5 GRANTS made according to Object Net gain SURPLUS or LOSS Transfers between funds From Unrestricted to Renovation From Designated Venture FX to Unrestricted For Information Only Schedule of Deposits Note 6 Grants Made Note 7 |
12 months 2022 / 2023 28,125.16 5.83 28,130.99 3,401.14 644.00 1,590.37 1,672.71 572.00 1,680.98 150.06 3,416.01 - - 16,200.00 29,327.27 |
12 months 2021 / 2022 26,249.73 0.45 |
|---|---|---|
| 26,250.18 3,038.78 477.01 611.56 1,297.28 572.00 363.81 3,092.40 13.00 |
||
| 1,000.00 | ||
| 10,465.84 | ||
| - 1,196.28 | 15,784.34 | |
Peter Green, Treasurer 34 North Twelfth Street Milton Keynes MK9 3BT 10-May-23
Ken Brine, Secretary 16 Huntley Crescent Campbell Park Milton Keynes MK9 3FZ
10-May-23
THE CROSS AND STABLE CHARITIES
BALANCE SHEET
| 31st March 2023 12 months 2022/2023 Tangible Assets Property at 2-7 Stable Yard Note 8 200,000 Current Assets Cash at Bank Note 9 37,354.61 Property Suite client account float Note 10 4,426.77 Loan to St James Debtors - rents receivable Note 11 Error Creditors - 5,572.00 Tenants' returnable deposits transferred to special account Sundry Creditors Note 12 236,209.38 CURRENT ASSETS FUNDS Endowment Fund 200,000.00 Unrestricted Fund available for grants 16,209.38 Unrestricted Fund not available for grants Designated Fund Renovation Reserve 20,000.00 236,209.38 check |
12 months 2021 / 2022 200,000 37,397.70 - 0.04 580.00 - 572.00 |
|---|---|
| 237,405.66 | |
| 200,000.00 17,405.66 20,000.00 |
|
| 237,405.66 | |
EXEMPTION FROM STATUTORY AUDIT
For the year ended 31st March 2023 the company was entitled to claim exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit 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 accounting records and for the preparation of Accounts.
COUNCIL OF MANAGEMENT RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The Council of Management acknowledge their responsibility for:
i) Ensuring the company keeps accounting records which comply with section 221; and ii) Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its financial year, and of its profit and loss for the financial year in accordance with section 226, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
These financial statements were approved by the Council of Management on 10th May 2023
The attached notes, numbered 1 - 12, form part of these financial statements.
Peter Green, Treasurer 34 North Twelfth Street Milton Keynes MK9 3BT
10-May-23
Ken Brine, Secretary 16 Huntley Crescent Campbell Park Milton Keynes MK9 3FZ
10-May-23
THE CROSS AND STABLE CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st March 2023
1. ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are considered to be material in relation to the company's financial statements.
a) The financial statements have been prepared using the historical cost convention and in accordance with applicable accounting standards.
b) Rents receivable under operating leases are credited to the profit and loss account as they fall due.
2: RENTS THIS YEAR
| 2: RENTS THIS YEAR | 2022 / 2023 | 2021 / 2022 | |
| months | |||
| Unit 2 301.00 for 12 months |
3612 | 3,311.00 | |
| Unit 3 300.00 for 12 months |
3600 | 2,700.00 | |
| Unit 4 350 for 2 months and |
480.00 for 7 months | 4060 | 4,320.00 |
| Unit 5 418.33 for 12 months |
5019.96 | 4,601.63 | |
| Unit 6 | 516.10 fo 12 months | 6193.2 | 5,677.10 |
| Unit 7 470.00 for 12 months |
5640 | 5,640.00 | |
| 28,125.16 | 26,249.73 | ||
| Rent actually received | 28125.16 | 25,769.73 | |
| 3. SERVICE CHARGES | 2022 / 2023 | 2021 / 2022 | |
| The amount of service charges collected | at £2.60 psf (2000 sf) | 5,200.00 | |
| Service charge re voids | 1,300.00 | ||
| The actual cost of providing services = £3.18 psf | 6,360.54 | ||
| Nominal loss | |||
| 4. Property Suite Error | 2022 / 2023 | 2021 / 2022 | |
| There was a £4,92 that will not go. | |||
| 5. RENTS Write Offs | 2022 / 2023 | 2021 / 2022 | |
| Tenant fail unts 3 & 4 | |||
| failure from 2019/20 | |||
| 6. SCHEDULE OF DEPOSITS | 2022 / 2023 | 2021 / 2022 | |
| Unit 2, Cassie | |||
| Unit 3, Lorraine | 300 | ||
| Unit 4, Paul | 480 | ||
| Unit 5, Zoltan | |||
| Unit 6, Claire | |||
| Unit 7, Kelly Butler |
2022 / 2023
2021 / 2022
7. GRANTS MADE
| Unallocated surplus held by Stantonbury at 31/3/2014 Unallocated surplus held by Charities at 31/3/2022 Surplus allocated to Grants 2022/23 Bradwell Roof Christ Church Soup run kitchen eqiipment C&S Covd personal rellief St James boiler Bereavement St Andrew;s Quiet Garden Covid support to 6 churches StJames Cross and Stable St Lawrence Balance held by Charity Available at 31st March 2023 |
17,405.56 -1196.28 -1200 -10000 -5000 15,009.28 |
1,621.22 16,784.34 - 1,000.00 |
|---|---|---|
| 17,405.56 |
| 8. Tangible Assets / Endowment Funds | 2022 / 2023 | 2021 / 2022 |
|---|---|---|
| Property at 2-7 Stable brought on to Balance sheet | 200,000 | 200,000.00 |
| 9. CHARITIES ACCOUNT BANK RECONCILIATION | 2022 / 2023 | 2021 / 2022 |
| Actual Balance in Bank at 31st March 2023 | 32,026.10 | |
| Previous quarter to Charities | ||
| 2 years Comapnie sHouse | - 26.00 | |
| Gain to Main account | 6259.89 5,422.73 | |
| Sundries | - 25.13 | |
| Correct balance in account at 31st March 2021 | 37,397.70 | |
| 10. PROPERTY SUITE CLIENT ACCOUNT RECONCILIATIO | 2022 / 2023 | 2021 / 2022 |
| Bank statement at 31st March 2023 | 6259.89 | |
| Owed to Property Suite | - 837.20 | |
| Owed to Charities | - 5,422.73 | |
| Correct Balance in Account | - 0.04 |
| 11. DEBTORS 2021 / 2022 Assorted issues with Property suite Unit 6 PAUl Newto 480.00 HMRC 100.00 Units 3&4 Lorraine written of 30/9/20 Deposit Refund Total Debtors 580.00 |
11. DEBTORS 2021 / 2022 Assorted issues with Property suite Unit 6 PAUl Newto 480.00 HMRC 100.00 Units 3&4 Lorraine written of 30/9/20 Deposit Refund Total Debtors 580.00 |
|---|---|
| 580.00 | |
| 12. CREDITORS TO Property Suite To Man Com cleaning Provision for unit 3&4 electricity Total Creditors 9. ACCUMULATED ERRORS AT PROPERTY SUITE |
2021 / 2022 572 |
| 572.00 | |
Peter Green, Treasurer 34 North Twelfth Street Milton Keynes MK9 3BT 10-May-23
Ken Brine, Secretary 16 Huntley Crescent Campbell Park Milton Keynes MK9 3FZ 31st March 2023
NOTES
Rents Write Offs and Debtors
| Rent due Rent failed unit 7 Rent Received Less debt recovered from random overpayment from unit 7 Write off unit 7 Write off unit 6 Debtors at 1/4/14 Recovered Write off Debtors at 31/3/15 |
23999.88 315.79 23684.09 24278.48 600 5.61 23684.09 315.79 581.55 897.34 2035.04 -5.61 581.55 2610.98 600.00 581.55 -5.61 1435.04 |
|---|---|
Accumulated Errors at Property Suite
Property Suite maintain two accounts for us.
A: Tenants Starting Deposits
These are held in a formal protected account that can o tenants concerned or with the decision of the courts.
This account was found to be missing the 1987 deposit transfer from the Client Account B
B: Client Account
We last inspected this account in 2010 It was found to c This was transferecd to our funds in the 2009/10 acocu
A further inspection this May revealed that the account their failing to pass items to us.
The balances were transferred to us, $999.53 to our ba above to ensure the Deposit fund was correct.
This appears on the SOFA as a receipt of £1,419.53 an Creditor, £420.
No Deposits are shown on our balance sheet The Clie £500 and a reconciliaton of that accunt folows.o
It is likely that the discrepancy between Unit 6 as "agree ourselves could be a whole monthrentwhich PS Proper monthrentwhich PS failed to report to us but kept in the
Other similar errors were found in 2-13, 2014 bank state bank statemtns since 2010 andtheyare not readily avail
Property Suite Client Account Reconciliation
| Bank statemetn at 31st March 2015 PrePayments 21.00 Unpresented cheques - 398.33 - 501.61 - 50.00 - 50.00 - 291.00 - 450.00 Accumulated erros Owed to Property suite - 103.11 Owed to Deposits - 420.00 Owed to Charities - 999.53 Correct Balance in Account |
3,742.58 - 1,719.94 - 1,522.64 £ 500.00 |
|---|---|
Schedule of Deposits
Unit 2, Sue Unit 3, Lorriane Unit 4, Lorriane Unit 5, Zoltan Unit 6, Claire Unit 7, Kelly Butler
only be drawn on with the consent ot the
t of unit 4. This has been rectified by
contain £1515.15 more than justified. unts.
had again accumulated funds due to
ank account and the £420, referred to
nd on the balance sheet as a changed
nt Account shows the correctbalance of
ed " by Unit 6 Property suite - and rty suite - and ourselves could be a whole e client Acocunt.
ements It is too onerous to go through all lable.
SOFA
| 31st March 2016 INCOME Rental Income Note Other Interest Value of Property brought onto balance sheet Change in Value of Property EXPENDITURE Service Charge Items Note 6 Management Charges Major Repairs Rent Arrears Write off Note 7 Net incoming resources before transfers TRANSFER BETWEEN FUNDS From Unrestricted Funds To Designated Funds Fund Balances brought forward Fund Balances carried forward |
2015 / 2016 25,396.43 - 12.76 1,000.00 26,409.19 6,132.96 3,082.84 - 9,215.80 17,193.39 - 1,000.00 1,000.00 218,108.22 235,301.61 |
2014 / 2015 23,999.88 1,419.53 19.29 199,000.00 |
|---|---|---|
| 224,438.70 7,246.49 3,014.65 8,172.00 897.34 |
||
| 19,330.48 | ||
| 205,108.22 | ||
BALANCE SHEET
31st March 2016
| TANGIBLE ASSETS Property CURRENT ASSETS Cash at Bank Note 12 Property Suite client account float Note 10 Debtors - rents receivable (Note 2_Note 3_ LIABILITIES Sundry Creditors Note 4 TOTAL ASSETS FUNDS Restricted Funds Unrestricted Funds Designated Fund Designated Fund Note 4 |
2015 / 2016 200,000.00 33,966.57 500.00 835.04 35,301.61 - 235,301.61 200,000.00 21,301.61 14,000.00 235,301.61 |
2014 / 2015 199,000.00 17,173.18 500.00 1,435.04 |
|---|---|---|
| 19,108.22 - |
||
| 218,108.22 | ||
| 199,000.00 5,108.22 1,000.00 13,000.00 |
||
| 218,108.22 |