REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 12 |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) (REGISTERED NUMBER: 01571091) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objectives of the charity are the advancement of the Christian religion and propagation of the Gospel in accordance with the doctrines and principles of the United Reformed Church. |
It carries out this function by managing the property of which it has charge over ensuring that it is used for the advancement of the Christian religion. |
Significant activities |
The main activities of the charity are : |
- acting as trustee of the premises and manses of the local churches in the Synod and the proceeds of sale thereof; ensuring that they are used and expended in accordance with the statutory trusts to which they are subject and in accordance with the policy laid down by the Synod so far as this affects such property and funds. |
- acting as trustee of various charities administered in connection with the religious and charitable work of the Synod. |
- acting as steward (bare trustee or nominee) of various charitable funds belonging to the Synod and local churches which have been passed over to the care of the charity to be expended by the charity as directed by the Synod or local church concerned as the case may be. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Overseeing a good investment performance of the funds over which the charity has stewardship in the light of an adverse economic climate and distributing the income to the correct beneficiaries ensuring that the income was applied correctly with the trusts relating to it. |
FINANCIAL REVIEW |
Reserves policy |
The charity generates no income and holds no assets of its own and therefore does not require a reserves policy. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
The trustee directors are appointed by the members. Admission to membership is subject to approval of the trustee directors after consultation with the Nominations Committee of the Mersey Synod. |
Related parties |
There have been no transactions during the year between the charity and individual trustee directors. As all the members are appointed because of their membership of the Synod of the United Reformed Church (Mersey Province) or one of its standing committees there is an association between the church Synod and the charity. |
During the year the charity used the facilities of office space of the Trust Property Administered by the Mersey Synod of the United Reformed Church without payment of any rent. |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) (REGISTERED NUMBER: 01571091) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Rev. A F Hall |
Mrs L H Barker |
D Swift |
Mrs S M Davies |
Mrs H M Brown |
N M Mackenzie |
D H Lewis |
Ms K J Holt |
Rev. G Felton |
Company Secretary |
Independent Examiner |
A J Syddall M.A., F.C.A. |
P B Syddall & Co |
Chartered Accountants |
Grafton House |
81 Chorley Old Road |
Bolton |
Lancashire |
BL1 3AJ |
FUNDS HELD IN A TRUSTEESHIP CAPACITY |
The charity holds many investments and properties in trust for the Trust Property Administered by the Mersey Synod of the United Reformed Church and for the individual United Reformed churches of the Mersey Synod. However these assets are not held by the charity as beneficial owners and consequently are not included in the financial statements of the charity. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of United Reformed Church (Mersey Province) Trust Limited (The) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) (REGISTERED NUMBER: 01571091) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
Independent examiner's report to the trustees of United Reformed Church (Mersey Province) Trust Limited (The) ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
A J Syddall M.A., F.C.A. |
The Institute of Chartered Accountants in England and Wales |
P B Syddall & Co |
Chartered Accountants |
Grafton House |
81 Chorley Old Road |
Bolton |
Lancashire |
BL1 3AJ |
18 September 2024 |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
EXPENDITURE ON |
Other | ( | ) |
NET INCOME/(EXPENDITURE) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 697 |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) (REGISTERED NUMBER: 01571091) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank | 4 |
CREDITORS |
Amounts falling due within one year | 5 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 6 |
Unrestricted funds | 697 |
TOTAL FUNDS | 697 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The accounts are prepared in sterling which is the functional currency of the charity. |
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believe to be reasonable under the circumstances. |
There have been no significant judgements that management has made in the process of applying the entity's accounting policies in the process of preparing the financial statement's. |
There have been no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities. |
EXPENDITURE |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
TAXATION |
The charity is exempt from corporation tax on its charitable activities. |
FUND ACCOUNTING |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
PROTECTION FROM MONEY LAUNDERING AND RELATED FRAUD |
The charity does not generate income of its own and as such it is not subject to the threat of potential money laundering. Each of the United Reformed Churches and the Synod have their own anti-money laundering policies in place. |
GOING CONCERN |
At the time of approving the accounts the trustee directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustee directors continue to adopt the going concern basis of accounting in preparing the accounts. There are no material uncertainties about the charity's ability to continue. |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
TRUSTEES' EXPENSES |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
3. | INDEPENDENT EXAMINATION FEES |
The fee charged for the Independent Examination, £660, is paid by the Trust Property Administered by the Mersey Synod of the United Reformed Church. |
4. | CASH AT BANK |
2023 | 2022 |
Total | Total |
funds | funds |
£ | £ |
RBS current account | 221,629 | 274,428 |
RBS deposit account | 287 | 243 |
Investec investments | 409,183 | 395,539 |
COIF Charities deposit fund | 218,947 | 209,878 |
Total |
These are funds held by the charity in a trust capacity for local charities and the Synod. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
United Reformed Church (Mersey Province) church funds held on trust |
These are funds held by the charity in a trust capacity for local charities and the Synod. |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 697 | (1 | ) | 696 |
TOTAL FUNDS | (1 | ) | 696 |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (1 | ) | (1 | ) |
TOTAL FUNDS | ( | ) | (1 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 542 | 155 | 697 |
TOTAL FUNDS | 542 | 155 | 697 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | 155 | 155 |
TOTAL FUNDS | - | 155 | 155 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.22 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 542 | 154 | 696 |
TOTAL FUNDS | 542 | 154 | 696 |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | 154 | 154 |
TOTAL FUNDS | - | 154 | 154 |
7. | RELATED PARTY DISCLOSURES |
Trustee N M Mackenzie is also a trustee of associated charity Trust Property Administered by the Mersey Synod of United Reformed Church. |
There were no related party transactions for the year ended 31 December 2022. |
8. | PROPERTIES HELD IN A TRUSTEESHIP CAPACITY |
The Title Deeds of 61 Church Properties |
3A01 Brookhouse Road, Alsager, Cheshire, ST7 2PA |
3A03 121 Saughall Road, Blacon, Chester, CH1 5ET |
3A07 Hoole Road, Chester |
3A09 44 Heath Road, Upton-by-Chester, CH2 1HX |
3A10 Vicars Cross Oldfield Drive, Green Lane, Chester |
3A11 Antrobus St. Congleton, Cheshire, CW12 1HE |
3A13 Whitby Chester Road, South Wirral |
3A14 Farndon, Chester S. |
3A19 Brookfield Road, Lymm, Cheshire |
3A20 High Street, Malpas, Cheshire |
3A21 Queen Street, Middlewich, Cheshire, CW10 9AR |
3A23 Market Street, Nantwich, Cheshire, CW5 5DG |
3A26 Parkgate & Neston, Parkgate Road, Neston, South Wirral. CH64 6QF |
3A27 Lapwing Grove, Palacefields, Runcorn, Cheshire, WA7 2TP |
3A29 15 Elmwood Avenue, Warrington, WA1 3SY |
3A30 Risley Glover Road, Locking Stumps, Warrington, Cheshire |
3A31 St. Johns' Wilderspool Causeway, Warrington, Cheshire, WA4 6QE |
3A32 Wycliffe Bewsey Street, Warrington, WA2 7HZ |
3A33 Swanlow Lane, Winsford, Cheshire, CW7 1JE |
3A99 The Dingle, Haslington, Crewe, CW1 1RY |
3B08 111 Church Road, Formby, Liverpool, L27 3ND |
3B25 Station Road, Ainsdale, Southport |
3B26 Trafalgar Road, Birkdale, Southport |
3B27 Churchtown, Botanic Rd, Southport, PR9 7NG |
3B29 Lord Street West, Southport |
3B30 St. George's, Lord Street, Southport |
3B31 West End Road, Haydock, St. Helens, WA11 0AW |
3B34 Burial Ground Crow Lane, Newton Le Willows |
3B37 Higher Lane, Rainford, St. Helens, WA11 8AL |
3B39 Derwent Road, Haresfinch, St. Helens |
3B40 Newtown, Knowsley Road, St. Helens WA10 4PW |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | PROPERTIES HELD IN A TRUSTEESHIP CAPACITY - continued |
3B41 Ormskirk Street, St. Helens, WA10 1BQ |
3B42 Sutton Road, Peasley Cross, St. Helens |
3B43 Toll Bar with Prescot, Freckleton Road, St. Helens, WA10 3AR |
3B44 Tunley Mossy Lea, Wrightington, Wigan, WN6 9RR |
3B45 Trinity, Milton Grove, Wigan, WN1 2PG |
3C06 Allerton, Mather Avenue, Liverpool L18 7HDL |
3C11 Hunts Cross, Hillfoot Avenue, Liverpool, L25 0NR |
3C13 Oakvale Edge Lane Drive, Liverpool L13 4AD |
3C17 St. Stephen's, Lance Lane/Woolton Rd. Liverpool L15 6TD |
3C31 Chadwick Mount, Everton Valley, Liverpool |
3C39 Eshe Road, Crosby, Liverpool, L23 3AR |
3C40 Sports Hall Caradoc Road Seaforth |
3C42 Huyton, Corner, Seel Rd/Victoria Rd. Huyton, L36 6DG |
3C43 Maghull, St Georges : Northway, Maghull Merseyside L31 7BG |
3D01 87 Kings Road Bebington Wirral CH63 8LX |
3D02 Higher Bebington Rd, Bebington, Wirral CH63 2PL |
3D03 Upton Road, Claughton Village, Birkenhead CH41 0DE |
3D04 Prenton Road West, Prenton, Wirral CH42 9PX |
3D05 Rock Lane West, Rock Ferry, Birkenhead CH42 4NZ |
3D06 32 St Paul's Rd, Rock Ferry, Birkenhead CH42 3UZ |
3D09 63 Alton Road, Claughton, Prenton CH43 1UZ |
3D11 Crosthwaite Ave/Mill Park Drive, Eastham, Wirral CH62 9DG |
3D12 199 Telegraph Road, Heswall, Wirral CH60 7SE |
3D14 6 Greenwood Road, Meols, Wirral CH47 6AD |
3D15 Church Drive, Port Sunlight, Wirral CH62 |
3D19 Torrington Rd. Wallasey, Wirral CH44 3BU |
3D20 Wallasey Church Hall, Rake Lane, Wallasey |
3D21 Brougham Rd, Wallasey, Wirral CH44 6PW |
3D23 Wallasey Village, Wallasey, CH45 3LP |
3D24 Meols Drive, West Kirby, Wirral CH48 |
The Title deeds of 23 Manse properties below are held in a trusteeship capacity. |
3A07 18 Kilmorey Park Avenue, Hoole, Chester, CW12 3RF |
3A09 41 Cotebrook Drive, Upton-by -Chester, Cheshire, CH2 1RB |
3A11 16 The Moorings, Congleton, Cheshire, CW12 3RF |
3A26 31 Moorside Ave. Parkgate, S. Wirral CH64 6QS |
3A33 22 Swanlow Lane, Winsford, Cheshire, CW7 1JE |
3A32 30 Allen St. Warrington, WA2 5JD (not in scheme) |
3A30 750 Warrington Road, Locking Stumps, Warrington, WA3 6AH |
3A31 22 Farnham Close, Appleton, Warrington, WA4 3BG |
3B41 173 Rainford Road, Windle, St. Helens, WA11 7QF |
3B45 4 Newenden Road, Wigan, WN1 2PX |
3C06 31 Church Road, Liverpool, L15 9ED |
3C43 57 Northway, Maghull, Liverpool, L31 7BG |
3C17 17 Montclair Drive, Liverpool, L18 0HA |
3C13 3 Waterside Park, Huyton, L36 4RN |
3D04 109 Shrewsbury Road, Claughton, Birkenhead, CH43 8SS |
3D19 10 Kirkway, Wallasey, CH45 5EQ |
3D14 190 Birkenhead Rd. Meols. Wirral, CH47 0NF |
3D12 6 Brimstage Close, Heswall Hills, Wirral, CH60 1YE (part owned) |
3D02 101 Higher Bebington Rd. Bebington, Wirral, C63 2PL |
3D01 25 Kings Road, Bebington, Wirral CH63 5QQ |
3D05 90 Ennisdale Drive, Wirral CH48 6DU |
3D06 2 Vaughns Lane, Great Broughton CH5 5XS |
UNITED REFORMED CHURCH (MERSEY PROVINCE) |
TRUST LIMITED (THE) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
8. | PROPERTIES HELD IN A TRUSTEESHIP CAPACITY - continued |
3D07 13 Hatsfield Road, Ainsdale PR8 2PE |