REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
MELTHAM CARLILE LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
MELTHAM CARLILE LIMITED |
MELTHAM CARLILE LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 15 |
MELTHAM CARLILE LIMITED (REGISTERED NUMBER: 08928970) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
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 March 2024. 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 |
1. The company converted to a charity in October 2016 and changed its name to Meltham Carlile Ltd. from Meltham Carlile CIC which was first incorporated on 7th March 2014. Its objectives remain the same, as stated in the Articles, are to carry out activities which benefit the community in particular (without limitation) to acquire land, own, lease, let, manage, charge, dispose of, transfer and otherwise deal in real property (both leasehold and freehold); and repair, renovate, clean and rehabilitate existing buildings within the community and make them accessible to the members of the community and/or allow the use of them for the benefit of the members of the community. |
2. The company is 'not for profit'. The company is not established or conducted for private gain: any surplus or assets are used principally for the benefit of the community. |
3. There were three director/trustees at the company's founding, Richard Noon, Charles Greaves and Paul White. This number has grown as additional director/trustees have joined, increasing the connections to the wider community and strengthening the expertise and skills of the Board. It was also decided to invite two directors selected by and from Meltham Town Council, in order to ensure close working relationships between the two organisations. These are currently Cllr Jean Wrathall and Cllr Kate Buchanan. The Board also has up to three members selected by the Meltham Carlile Community Support Group. These are Ann Jurczyszyn and Pat O'Brien. Stephen Lamb has joined the Board and as well as being an active member of the community also offers a wealth of expertise in audit and compliance. |
4. The principal activity of the company/charity has been to acquire The Carlile Institute in Meltham, a 'community asset transfer', from Kirklees Metropolitan Council (this was completed in 2014), and to renovate, repair and remodel The Carlile Institute so that it functions as a multi-purpose community building. Funding was received in capital grants from Kirklees Council, Meltham Town Council, The Valleys Area Committee, Crossroads (a Meltham based community charity) and more latterly from Power to Change (part of the Big Lottery). There have been other funds from donations and sponsorship and income generated from use of the space within the building. |
5. We took possession of the building in July 2014 and have since created contemporary spaces for a new Post Office, Library, Town Council offices, dance studio, a small business centre and three community rooms which offer flexible spaces, including events and performance space in the Jubilee Room. |
ACHIEVEMENT AND PERFORMANCE |
Our objectives for the year |
1. To ensure that there is full use of the building in ways that satisfy our aims and objectives. |
2. Our other year to year objectives remain, to manage the rooms and space in The Carlile Institute for the benefit of the Meltham community. |
3. To raise sufficient funds to pay for the building's running costs. |
4. To raise additional capital funding in order to pay for continued repair and future renovations works to the Institute. |
5. To employ both volunteers and contractors to clean, maintain as well as prepare and open rooms for community uses. |
6. To continue to provide a home for the relocated Town Library, Post Office and Meltham Town Council in the building. |
7. To support both new and existing community activities and groups with quality space as well as enable them to develop and improve. |
MELTHAM CARLILE LIMITED (REGISTERED NUMBER: 08928970) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Our objectives and achievements during the year |
1. Financially we've not received any grants or external financial support this year. All our income has come from rents and fees/donations at the Institute, which confirms that our community business is self-sustainable without financial support from other agencies. |
2. It is our tenth year, and we are on top of the improvement works to the building. We have continued with relatively minor repairs that are inevitable with a building of this nature. We have not progressed the project to extend the building, partly due to lower demand for community space but also as we ponder what may work best for us in the future. |
3. Meltham Town Council and the Town's Library are back in full operation in the building and alongside the Post Office are a very important parts of our community offer. |
4. The community business/charity continues to perform very well. We have maintained our community network in Meltham and this helps us respond effectively to many of the needs of the local community. We continue to be indebted to the hard work and commitment of Richard Noon who has been tireless in his pursuit of our goals, but also with the exemplary support from both the Board members and other volunteers in our Community Support Group for which we are very grateful. |
FINANCIAL REVIEW |
Review of the year |
1. As stated earlier, our principal activity is to renovate and modernise The Carlile Institute, so that it functions as a multi-use community building. Since the beginning of the project we have received just short of £500,000 in capital grants from the sources listed in the introduction. We have spent more than this on works to renovate and remodel the building, with the balance coming from our trading activity (ie rents and donations) |
2. Our balance sheet now indicates that we have net assets of c£340,000, the main part of which is the building. Much of the building is used for community purposes which has a low commercial value and hence our current property valuation of £276,000 is lower than the amount spent on renovation. Nevertheless, we now have a significantly improved and repaired building which is functioning to a high level and just under £107,000 cash at the bank and in hand. |
3. Our rents and fees have been slightly lower this year which was mainly due to turnover of tenants in the Business Centre and at the same time we have had higher costs in repairs and renewals of £10,355 (£6,000 higher), which was as a consequence of changes to our gas supply, new gas boilers and electrical works. Despite our net income being nearly £9,000 down compared with the previous year our cash reserves have grown by over £11,000. |
4. We still have some niggling issues with drainage and general repair, and inevitable with a building of this age we'll need to keep investing in repairs and improvements in the future. We want to continue the possibility of extending the building to provide some additional space. |
5. In conclusion the community business/charity is in good financial health with the asset of a transformed Carlile Institute, which is home to a myriad of community services and a range of rooms enabling wide and varied community activities and events. We now have very healthy reserves and the prospect of generating a continuous surplus in future years. |
MELTHAM CARLILE LIMITED (REGISTERED NUMBER: 08928970) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
FUTURE PLANS |
1. We aim to build on our earlier successes and where possible increase our revenue from rents and fees from both the commercial and community activities, as well as increasing the amount and variety of community activities and events within the Institute. |
2. Any surplus in our earnings from revenue activities will support further improvements to the building. We now have significant reserves which will not only fund future repair works and renewals but fund possible extensions to the building. |
3. We will continue to ensure that The Carlile Institute is managed efficiently and effectively for the benefit of the Town's residents. |
4. The Board will keep under review our governance model in order to ensure that it is fit for purpose and is effectively engaged with the community and is commensurate with our charitable status. |
5. We will continue to meet monthly and recruit further Directors/Trustees where this will strengthen our collective skills and expertise as well as improve our community network. |
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. |
We are a company limited by guarantee, with charitable status and have the same board structure that we envisaged from the start with a Board of nine Director/Trustees. This includes the original three founding members, two Board members selected by Meltham Town Council every four years, three members selected by The Meltham Carlile Support Group and the final member, selected by the chair, to provide particular skills that may be missing from the Board. |
Decision making |
The Board meets monthly with regular reports on finances, progress on refurbishment works, management of buildings, including health and safety issues, governance issues and updates from the Support Group on the community activities and events. |
Wider network |
We do not have any employees, relying instead on volunteers to manage the administration of the charity and the management of the building. Most of this work is undertaken by Richard Noon and Paul White under the guidance of the Board. We have contractors for cleaning and maintenance of the fire safety and security of the building. We also employ Sheards, Chartered Accountants, for advice and annual accounts; Ridley and Hall, Solicitors, for legal advice and lease documents; Bramleys, Chartered Surveyors, for advice on rentals and property valuations. |
From the start we have had a wide network within our community and have encouraged community volunteers to support both the management of the project and the building, as well as in developing and running new community activities and events in the building. Much of this has been successfully achieved by the Meltham Carlile Support Group whose membership is open and inclusive and welcomes anyone committed to sustaining the future of The Carlile Institute. This group meets monthly, organises events and manages the letting of the community rooms ensuring the rooms are prepared for activities and events. The group also promote The Carlile Institute and its opportunities to the wider community. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
MELTHAM CARLILE LIMITED (REGISTERED NUMBER: 08928970) |
REPORT OF THE TRUSTEES |
for the year ended 31 March 2024 |
Registered office |
Trustees |
Independent Examiner |
SMH Sheards |
Vernon House |
40 New North Road |
Huddersfield |
West Yorkshire |
HD1 5LS |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
MELTHAM CARLILE LIMITED |
Independent examiner's report to the trustees of Meltham Carlile Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
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. |
Kevin Winterburn |
SMH Sheards |
Vernon House |
40 New North Road |
Huddersfield |
West Yorkshire |
HD1 5LS |
28 March 2025 |
MELTHAM CARLILE LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
for the year ended 31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 340,722 |
MELTHAM CARLILE LIMITED (REGISTERED NUMBER: 08928970) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 8 |
Unrestricted funds | 107,592 |
Restricted funds | 233,130 |
TOTAL FUNDS | 340,722 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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. |
MELTHAM CARLILE LIMITED (REGISTERED NUMBER: 08928970) |
BALANCE SHEET - continued |
31 March 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
MELTHAM CARLILE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2024 |
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, as modified by the revaluation of certain assets. |
The company was awarded charitable status on 14 October 2016. The financial statements have been prepared in accordance with the guidelines as set out above. This included the restatement of comparative figures to agree with the required formats. The property at Meltham Carlile, previously classified as an investment property, is now included within freehold property as it has a mixed use, being used both for the generation of revenue, and for the charity's own use. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property over the expected useful life of 50 years |
Fixtures and fittings 20% on cost |
Computer equipment 33% on reducing balance |
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. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Impairment |
Fixed assets are subject to review for impairment when there is an indication of a reduction in their carrying value. Any impairment is recognised in the SOFA in the year in which it occurs. |
MELTHAM CARLILE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
2. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
Trustees' benefits for the year ended 31 March 2024 amounted to £Nil, the amount for the year ended 31 March 2023 was £Nil. |
There was no trustees' remuneration for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 91,553 | 238,617 |
TOTAL FUNDS CARRIED FORWARD | 107,592 | 233,130 | 340,722 |
MELTHAM CARLILE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The land and buildings were valued by Bramleys Estate Agents on 20th October 2017. |
The historical cost of the land and buildings is £502,533 (2017 £498,184). The property is being depreciated over its estimated useful life of 50 years, starting 1 April 2017. |
Kirklees Council holds a charge of £100,000 dated 3rd September 2014 over the land and buildings at Carlile Institute. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Town council debtor | - | 2,065 |
MELTHAM CARLILE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bonds held | 1,013 | 1,723 |
VAT | 2,684 | 489 |
Accrued expenses |
8. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 107,592 | 7,145 | 114,737 |
Restricted funds |
Kirklees Council |
71,693 | - | 71,693 |
Meltham Town Council | 16,871 | - | 16,871 |
Power to Change (Capital) | 144,566 | (5,487 | ) | 139,079 |
(5,487 | ) |
TOTAL FUNDS | 1,658 | 342,380 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 46,426 | (39,281 | ) | 7,145 |
Restricted funds |
Power to Change (Capital) | - | (5,487 | ) | (5,487 | ) |
TOTAL FUNDS | ( |
) | 1,658 |
MELTHAM CARLILE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
8. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 91,553 | 16,039 | 107,592 |
Restricted funds |
Kirklees Council |
71,693 | - | 71,693 |
Meltham Town Council | 16,871 | - | 16,871 |
Power to Change (Capital) | 150,053 | (5,487 | ) | 144,566 |
238,617 | (5,487 | ) | 233,130 |
TOTAL FUNDS | 330,170 | 10,552 | 340,722 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 48,067 | (32,028 | ) | 16,039 |
Restricted funds |
Power to Change (Capital) | - | (5,487 | ) | (5,487 | ) |
TOTAL FUNDS | 48,067 | (37,515 | ) | 10,552 |
MELTHAM CARLILE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
8. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 91,553 | 23,184 | 114,737 |
Restricted funds |
Kirklees Council |
71,693 | - | 71,693 |
Meltham Town Council | 16,871 | - | 16,871 |
Power to Change (Capital) | 150,053 | (10,974 | ) | 139,079 |
238,617 | (10,974 | ) | 227,643 |
TOTAL FUNDS | 330,170 | 12,210 | 342,380 |
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 | 94,493 | (71,309 | ) | 23,184 |
Restricted funds |
Power to Change (Capital) | - | (10,974 | ) | (10,974 | ) |
TOTAL FUNDS | 94,493 | (82,283 | ) | 12,210 |
All restricted funds were of a capital nature, provided for the purpose of the initial acquisition and the subsequent development of the building at Meltham Carlile. Due to the revaluation of the property in these accounts the reduction in the value of the property has been allocated across the restricted funds. |
MELTHAM CARLILE LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2024 |
9. | RELATED PARTY DISCLOSURES |