## **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|