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REGISTERED COMPANY NUMBER: 00465431 (England and Wales)
REGISTERED CHARITY NUMBER: 223627














Trustees' Report and

Unaudited Financial Statements for the Year Ended 30 September 2024

for

The Liverpool District Missionary
Trustee Company (Incorporated)
(A Company Limited by Guarantee)

The Liverpool District Missionary
Trustee Company (Incorporated)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Reference and Administrative Details 1

Trustees' Report 2

Statement of Financial Activities 3

Statement of Financial Position 4 to 5

Notes to the Financial Statements 6 to 11

The Liverpool District Missionary
Trustee Company (Incorporated)

Reference and Administrative Details
for the Year Ended 30 September 2024



TRUSTEES R F E Banyard - Director
R G Beecham - Director
B Black - Director
A Buchanan - Director
L N Gabriel - Director
B Naylor - Director
C M Shipton - Director
P M Waldron - Director


REGISTERED OFFICE Haines Watts Liverpool Limited
Pacific Chambers
11-13 Victoria Street
Liverpool
England
L2 5QQ


REGISTERED COMPANY
NUMBER
00465431 (England and Wales)


REGISTERED CHARITY
NUMBER
223627


BANKERS CAF Bank
25 Kings Hill
Kings Hill
West Malling
Kent
ME19 4TA


INVESTMENT ADVISERS Evelyn Partners
Royal Liver Building
Pier Head
Liverpool
L3 1NY

The Liverpool District Missionary
Trustee Company (Incorporated) (Registered number: 00465431)

Trustees' Report
for the Year Ended 30 September 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 30 September 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
The charity's objects are to act as trustee, manager and nominee holder of assets for charitable institutions arrangement having been established for custody of investments with outside primary custodians. The committee fulfills the same role as Trustees.

The Committee of Management have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

FINANCIAL REVIEW
Financial review
Income for the year totalled £3,198 (2023: £3,117) relating to donations, fees receivable and bank interest received.

The expenditure incurred by the charity in accordance with its aims amounted to £3,060 (2023: £3,056).

This has resulted in a surplus for the year of £138 (2023: £61) leaving unrestricted funds carried forward of £9,070.

The Committee of Management has not adopted a formal policy regarding a discrete level of reserves but retains sufficient funds to meet ongoing working capital requirements.

The Committee have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

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.

The company was established under a Memorandum of Association dated 7 March 1949 (amended 14 January 1966), which established the objects and powers of the company and nis governed by its Articles of Association.

The members of the Committee of Management are also its Directors and Trustees. Members are elected by Annual General Meetings of the members of the charitable company, with casual vacancies being filled, as required, by the committee of management in accordance with the company's Articles of Association.

Approved by order of the board of trustees on 1 April 2025 and signed on its behalf by:





P M Waldron - Trustee

The Liverpool District Missionary
Trustee Company (Incorporated)

Statement of Financial Activities
for the Year Ended 30 September 2024

30.9.24 30.9.23
Unrestricted
fund Total funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,000 3,000

Investment income 3 198 117
Total 3,198 3,117

EXPENDITURE ON
Charitable activities
General Expenses
3,060 3,056

NET INCOME 138 61


RECONCILIATION OF FUNDS
Total funds brought forward 8,932 8,871

TOTAL FUNDS CARRIED FORWARD 9,070 8,932

The Liverpool District Missionary
Trustee Company (Incorporated) (Registered number: 00465431)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Unrestricted
fund Total funds
Notes £ £
CURRENT ASSETS
Debtors 6 3,000 3,000
Cash at bank 9,070 8,932
12,070 11,932

CREDITORS
Amounts falling due within one year 7 (3,000 ) (3,000 )

NET CURRENT ASSETS 9,070 8,932

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,070

8,932

NET ASSETS 9,070 8,932
FUNDS 8
Unrestricted funds 9,070 8,932
TOTAL FUNDS 9,070 8,932

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.


The Liverpool District Missionary
Trustee Company (Incorporated) (Registered number: 00465431)

Statement of Financial Position - continued
30 September 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 1 April 2025 and were signed on its behalf by:





P M Waldron - Trustee

The Liverpool District Missionary
Trustee Company (Incorporated)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

The charity is a company limited by guarantee and has no share capital. Members have guaranteed the liabilities of the charity to the extent of £1 each in the event of the charity being wound up. The charity's registered number and registered office address can be found on the General Information page.

2. 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.

Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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.

Charitable expenditure
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are allocated across the activities on the basis of expenditure incurred for each of the activities.

Governance costs
These represent costs associated with meeting the constitutional and statutory requirements of the charity and include the accounts fees and costs linked to the strategic management of the charity.

Taxation
The charity is exempt from corporation tax on its charitable activities.

The company is not VAT registered. Expenditure is recorded in the accounts inclusive of VAT.

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.

The Liverpool District Missionary
Trustee Company (Incorporated)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value

Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's Statement of Financial Position when the charity becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and cash equivalents, are initially measured at transaction price, including transaction costs, and are then subsequently carried at amortised cost using the effective interest method, less provision for impairment, unless arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future lease receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The charity's cash and cash equivalents, trade and other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying value amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal.

The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the surplus or deficit..

Financial Liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after the deduction of its liabilities.

Basic financial instruments, which include trade and other payable are initially measured at their transaction price after transaction costs. When this constitute a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.


The Liverpool District Missionary
Trustee Company (Incorporated)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities.

Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flows expire, or are settled, or when the charity transfers the asset and substantially all of the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the charity will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire, are discharged or cancelled.

3. INVESTMENT INCOME
30.9.24 30.9.23
£ £
Deposit account interest 198 117

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.


5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,000

Investment income 117
Total 3,117

EXPENDITURE ON
Charitable activities
General Expenses
3,056

The Liverpool District Missionary
Trustee Company (Incorporated)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£

NET INCOME 61


RECONCILIATION OF FUNDS
Total funds brought forward 8,871

TOTAL FUNDS CARRIED FORWARD 8,932

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£ £
Amounts owed by participating interests 3,000 3,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£ £
Accruals and deferred income 3,000 3,000

8. MOVEMENT IN FUNDS
Net
movement
At 1.10.23 in funds At 30.9.24
£ £ £
Unrestricted funds
General fund 8,932 138 9,070

TOTAL FUNDS 8,932 138 9,070

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 3,198 (3,060 ) 138

TOTAL FUNDS 3,198 (3,060 ) 138


The Liverpool District Missionary
Trustee Company (Incorporated)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.10.22 in funds At 30.9.23
£ £ £
Unrestricted funds
General fund 8,871 61 8,932

TOTAL FUNDS 8,871 61 8,932

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 3,117 (3,056 ) 61

TOTAL FUNDS 3,117 (3,056 ) 61

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement
At 1.10.22 in funds At 30.9.24
£ £ £
Unrestricted funds
General fund 8,871 199 9,070

TOTAL FUNDS 8,871 199 9,070

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 6,315 (6,116 ) 199

TOTAL FUNDS 6,315 (6,116 ) 199

The Liverpool District Missionary
Trustee Company (Incorporated)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. RELATED PARTY DISCLOSURES

The following trustees; Leslie Gabriel, Philip Waldron and Beryl Black are also trustees of Merseyside and District Missionary Association. included within donations is £3,000 (2023: £3,000) from Merseyside and District Missionary Association. £3,000 (2023: £3,000) is outstanding at the year end from MDMA and is included within debtors.

There were no other related party transations during the year current of previous year.