MSC Charity Trust - Charities report - 20.2

MSC Charity Trust - Charities report - 20.2

MSC CHARITY TRUST - Company Information

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IRIS Accounts Production v20.2.0.366 Other Company accounts True false Pounds 1.1.19 31.12.19 31.12.19 FY Rev. J J McGee Rev. T J Plower Rev. C J Sweeney Rev. A R Whelan Rev. C R Tranter Rev. M A Serrage Rev. M A Ferry Rev. J P Fitzgerald Rev. M J O'Connell Rev. J A Nolan FRS 102 Independent examiner Large and medium-sized companies regime for accounts Full Charities SORP true true true true false true false false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure110805192018-12-31110805192019-12-31110805192019-01-012019-12-31110805192017-11-22110805192017-11-232018-12-31110805192018-12-3111080519ns22:CharitableCompanyLimitedByGuarantee2019-01-012019-12-3111080519ns15:PoundSterling2019-01-012019-12-3111080519ns22:Trustee12019-01-012019-12-3111080519ns22:Trustee22019-01-012019-12-3111080519ns22:Trustee32019-01-012019-12-3111080519ns22:Trustee42019-01-012019-12-3111080519ns22:Trustee52019-01-012019-12-3111080519ns22:Trustee62019-01-012019-12-3111080519ns22:Trustee72019-01-012019-12-3111080519ns22:Trustee82019-01-012019-12-3111080519ns22:Trustee92019-01-012019-12-3111080519ns22:Trustee102019-01-012019-12-3111080519ns11:FRS1022019-01-012019-12-3111080519ns11:IndependentExaminationCharity2019-01-012019-12-3111080519ns11:LargeMedium-sizedCompaniesRegimeForAccounts2019-01-012019-12-3111080519ns11:FullAccounts2019-01-012019-12-3111080519ns11:CharitiesSORP2019-01-012019-12-3111080519ns16:EnglandWales2019-01-012019-12-3111080519ns11:RegisteredOffice2019-01-012019-12-311108051922019-01-012019-12-31
REGISTERED COMPANY NUMBER: 11080519 (England and Wales)
REGISTERED CHARITY NUMBER: 1176634














REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2019

FOR

MSC CHARITY TRUST
Atkinson Finch & Co
Chartered Accountants
Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG








MSC CHARITY TRUST






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2019




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Notes to the Financial Statements 6 to 7

MSC CHARITY TRUST (REGISTERED NUMBER: 11080519)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2019


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 31st December 2019. 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 objectives are to promote the objectives of The Society of the Missionaries of the Sacred Heart of Jesus, a
voluntary association of men formed in Ireland for the promotion of the Catholic faith.

The company was incorporated with the intention of transferring the assets and activities of the MSC Charity Trust, an
unincorporated charitable trust. The transfer was delayed while the parish of St Albans' was handed back to the Diocese
of Westminster. As this has now taken place, the trustees are looking to complete the transfer by the end of 2020.

The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the
Charity's aims and objectives and in planning future activities.

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.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11080519 (England and Wales)

Registered Charity number
1176634

Registered office
Princethorpe College
Leamington Road
Princethorpe
Warwickshire
CV23 9PX

Trustees
Rev. J J McGee (resigned 17.01.20)
Rev. T J Plower (resigned 17.01.20)
Rev. C J Sweeney (resigned 17.01.20)
Rev. A R Whelan (resigned 17.01.20)
Rev. C R Tranter (appointed 17.01.20)
Rev. M A Serrage (appointed 17.01.20)
Rev. M A Ferry (appointed 17.01.20)
Rev. J P Fitzgerald (appointed 17.01.20)
Rev. M J O'Connell (appointed 17.01.20)
Rev. J A Nolan (appointed 17.01.20)


Page 1
MSC CHARITY TRUST (REGISTERED NUMBER: 11080519)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2019


REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
S G Bolton FCA
ICAEW
Atkinson Finch & Co
Chartered Accountants
Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG

Approved by order of the board of trustees on 14th September 2020 and signed on its behalf by:





Rev. C R Tranter - Trustee

Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MSC CHARITY TRUST

Independent examiner's report to the trustees of MSC Charity Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31st December 2019.

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.








S G Bolton FCA
ICAEW
Atkinson Finch & Co
Chartered Accountants
Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG

1st October 2020
Page 3
MSC CHARITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2019

Period
23.11.17
Year Ended to
31.12.19 31.12.18
Total Total
funds funds
Notes £    £   

NET INCOME - -


RECONCILIATION OF FUNDS

Total funds brought forward - -

TOTAL FUNDS CARRIED FORWARD - -

The notes form part of these financial statements

Page 4
MSC CHARITY TRUST (REGISTERED NUMBER: 11080519)

BALANCE SHEET
31ST DECEMBER 2019

2019 2018
Total Total
funds funds
Notes £    £   
NET CURRENT ASSETS - -

TOTAL ASSETS LESS CURRENT
LIABILITIES
-
-

NET ASSETS - -
FUNDS 5
TOTAL FUNDS - -

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2019.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2019 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.

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 14th September 2020 and
were signed on its behalf by:





Rev. C R Tranter - Trustee





Rev. J P Fitzgerald - Trustee

The notes form part of these financial statements

Page 5
MSC CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2019

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.

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

Fund accounting
Restricted funds
Restricted funds are used for specified purposes as laid down by the donor. Expenditure which meets these
criteria is allocated to the fund.

Unrestricted funds
Unrestricted funds are donations and other income received or generated for the objects of the charity without
further specified purpose and are available as funds which the charity may use for its purposes at its discretion.

Designated funds
These are sums forming part of the charity's unrestricted funds set aside by the trustees for particular purposes in
the future. The trustees have the power to reallocate such funds within unrestricted funds unless and until
expended.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2019 nor for the period
ended 31st December 2018.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2019 nor for the period ended
31st December 2018.


3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Total
funds
£   

NET INCOME -


TOTAL FUNDS CARRIED FORWARD -


Page 6 continued...
MSC CHARITY TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2019

4. MEMBERS

The company is limited by guarantee and each member has guaranteed to contribute £1 in the event of a winding
up. At 31st December 2019 there were 6 (2018 - 4) members.

5. MOVEMENT IN FUNDS
Net
movement At
At 1.1.19 in funds 31.12.19
£    £    £   
TOTAL FUNDS - - -

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

Incoming Resources Movement
resources expended in funds
£    £    £   
TOTAL FUNDS - - -


6. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2019 (2018 - None)

Page 7