Independent Examiner's Report to the Trustees of Torchbearers Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31°t March 2024 which are set out on pages one to seven
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records
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.
Stanton Ralph & Co Ltd Chartered Accountants The Old Police Station Whitburn Street Bridgnorth Shropshire WV16 4QP
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Registered Charity No. 1000113
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64 Dunval Road BRIDGNORTH Shropshire WV16 4NB
Annual Report for year to 31st March 2024
Legal and Administrative Information
The Trust was established by its Trust Deed dated 2nd April 1990. The objects of the Trust are the advancement of the Christian faith.
The Trust’s bankers are: Lloyds TSB High Street BRIDGNORTH The current trustees are: Mr Keith Bowley Mrs Linda Bowley Mr Paul Saunders (Resigned 1* June 2024) Mrs Ruth Whitney (Appointed 12" June 2024)
Appointment of Trustees
Appointment of trustees is governed by the Trust Deed. The trustees are authorised to appoint new trustees by resolution at a meeting of the trustees. In selecting individuals to act as trustees the existing trustees will always have regard to the skills, knowledge and experience needed for the effective administration of the Trust.
Trustee Induction and Training New trustees are given an introduction to the role of trustee and the workings of the Trust through discussion with existing trustees and by reference to relevant documents, as follows: 1. The role and responsibilities of a trustee — by reference to the relevant Charity Commission publications.
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The Trust Deed —a copy is provided to each new trustee 3. Current Financial Position — through availability of a copy of the latest published accounts and subsequent management accounts.
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_ 4. Future plans and objectives are discussed before appointment and at each trustee meeting.
Trust Income
Income is received from individuals, companies and charities who wish to support particular projects or organisations supported by the Trust. Where funds are received for a designated project these are normally held in separate bank accounts for the purpose. Separate accounts are:
Torchbearers Trust Annual Report for year to 31st March 2024 (cont'd)
Hope Foster Home, Beijing Base Camp Ministries Horses for Orphans
Main Activities
The objective of the Trust is the advancement of the Christian faith. In considering current and future activities of the Trust the trustees have given due consideration to the Charity Commission’s general guidance on public benefit. The Trust's activities fall broadly into 2 main parts:
1. Local Ministry in the Bridgnorth area
The Trust aims to support and complement the ministry of the existing local churches for the benefit of both Christians and the community at large. This is done in various ways:
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The Trust employs staff to minister in the local area in cooperation with local churches.
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The Trust employs one part-time person for the Catalyst Youth Trust project which works across the region to encourage and support the development of youth and schools work.
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The Trust provides gifts to local churches to assist them in pursuing their own ministry.
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The Trust provides grants to assist people in attending training and conferences to equip them better for their Christian ministry.
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The Trust provides financial support to the Bridgnorth Dry Bar Trust, which is a local charity providing an alcohol-free youth centre for young people from age 10 upwards.
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The Trust provides financial support to the Bridgnorth Youth & Schools Project,
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: which employs youth workers to work with young people aged 10-18 in local schools and in the community.
4. Financial Grants to Christian ministries and Individuals in the UK and overseas.
- These grants are made to ministries and individuals with aims and objectives consistent with those of the Trust and are normally made as a result of relationships developed over a number of years. Recipients include: - Hope Foster Home, Beijing, China which provides orphanages in China to house orphans, especially very young children who have been abandoned because they have serious illnesses. This organisation arranges life-saving surgery for these children then accommodates them until they can be adopted permanently by local families. All needy children are considered for acceptance by the orphanage without conditions and without charge.
Torchbearers Trust Annual Report for year to 31st March 2024 (cont’d)
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International Fellowship of Evangelical Students (IFES) which is a worldwide body based in the UK which provides Christian ministry and education to students around the world.
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- Christian Blind Mission, which works around the world bringing sight to the blind - Christians Against Poverty — a UK charity which provides free debt counselling to people who lack the funds to buy such services. This ministry has seen considerable success in assisting individuals and families who are under extreme financial pressure to restructure their debts and eventually get out of debt through careful budgeting.
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- TR Slater’s ministry with young men in Corby - CMS -—Church Missionary Society — in support of Simon and Sarah Cawdell working in Uganda
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- Gideon and Funmi Para-Mallam for Gideon’s research studies and for the work of their Peace Foundation in Jos, Nigeria
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- Nigerian Fellowship of Evangelical Students which is the national representation of IFES in Nigeria.
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- Bala Usman for his ministry establishing schools and training centres in disadvantaged villages in Plateau State, Nigeria
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- Horses for Orphans, Brazil - a project which endeavours to build the foundations of life for orphans and the underprivileged, to equip them to succeed in their personal and professional lives and come into a deeper knowledge of the love of God.
Achievements during the Year
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Much of the work of the trust continues to involve providing quiet support and much needed funds to various Christian ministries both in the UK and overseas.
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- The trust has provided financial support to the Bridgnorth Youth & Schools Project to enable it to continue its valuable work.
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The Catalyst Youth Trust project continues to provide support to youth workers across the region and also leads the Engage Schools project in Telford, helping local churches to develop their work with secondary schools. During the year it developed and launched a new book and workshop resource — Hikaru, which is now being used in local schools.
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‘ - As Nigeria continues to suffer from major lawlessness we have been able to provide funds for pursuit of peace and also to enable support for remote villages through provision of schooling and agricultural education.
Financial Review
During the year income totalled £70,938 (previous year £114,775). Expenditure totalled £71,293 (previous year £122,092). Overall there was a deficit of £355 (previous year £7,317).
Policies
Reserves Policy
The nature of the Trust’s work is such that the trustees do not consider it appropriate to build up any significant reserves. Income is received on the understanding that it is for the support of the Trust’s current activities and is consequently spent as it is received.
Torchbearers Trust Annual Report for year to 31st March 2024 (cont’d)
Grant-Making Policy The Trust will consider an application from anyone who is training for some form of Christian ministry. Preference will be given to Christians from within the Bridgnorth area. In practice the funds available for such grants are at present fairly limited.
Investments Selection Policy Because the trust does not hold significant reserves any such reserves are held in an interest bearing deposit account.
Review of Major Risks The most significant risk to the work of the Trust is that the majority of the individual donation income comes from two of the trustees. Should their circumstances change the income of the trust could be reduced substantially. The trustees are fully aware of this risk and ensure that the trust’s expenditure could be reduced to accommodate any such reduction in income, should it become necessary.
Approval
This report was approved by the trustees on 16" December 2024 and signed on their behalf
Keith H G Bowley (Chairman of the trustees)
Charity Commission Number Charity Name 1000113 Torchbearers Trust
Financial year ending 31/03/2024
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|---|---|---|---|---|---|---|
|General|Funds|
|Receipts|This year|Last year|
|Ata|Donations|and|other|similar|receipts|
|Corporate|Donations|2165|2151|
|Government JRS|Grants|0|0|
|Donations|from|other|Christian|charities|13078|15566|
|Individual|Donations|47043|46800|
|Offerings|0|0|
|A1b|Operating|Activities|
|to|further|charity's|objectives|2100|56|
|to|generate|funds|
|A1c|Investment|Income|Receipts|
|Bank|Interest|52|11|
|Sub-Total|(A1a|+ A1b|+ A‘c)|64438|64584|
|Aid|Other|Receipts|
|Transfer from|Deposit Accounts|0|0|
|Transfer from|Restricted|Funds|646|0|
|Loans|Received|0|354|
|Loan|Repayments|Received|0|697|
|Total|Receipts|for|Section A1|65084|65635|
|A2 Payments|This year|Last year|
|A2a|Payments|for Generating|Funds|0|0|
|A2b|Charitable|Payments|
|Ministry|Staff salaries,|and|Ministry|Gifts|27352|37462|
|“|Ministry|Staff expenses|2513|6360|
|Scholarships,|Grants|etc|5619|0|
|Gifts|to|other Charitable|organisations|17865|24863|
|Conference,|Meeting|&|Event|Expenses|1227|667|
|Purchase|of Teaching|Materials|7160|256|
|General|Administration|costs|2932|3209|
|Sub-Total|(A2a|+ A2b)|64668|72817|
|A2c|Other|Payments|
|Transfer to|Deposit Accounts|0|0|
|Transfer|to|Restricted|Funds|0|0|
|Loans|Made|257|0|
|Loan|Repayments|Made|54|0|
|Total|Payments|for|Section A2|64979|72817|
|Net Receipts/(Payments)|105|-7182|
|Cash funds|last year end|2094|9276|
|Cash|funds|this year end|2199|2094|
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A1 Receipts
Charity Commission Number 1000113
Charity Name Torchbearers Trust
Financial year ending 31/03/2024
,
Restricted Funds
B1 Receipts
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|---|---|---|---|---|---|---|---|
|This|year|Last|year|
|B1a|Donations|and|other|similar|receipts|
|Corporate|Donations|0|32506|
|Donations|from|other|Christian|charities|0|350|
|Individual|Donations|6500|17335|
|Offerings|0|0|
|B1b|Operating|Activities|
|to|further|charity's|objectives|0|0|
|to|generate|funds|0|0|
|Bic|Investment|Income|Receipts|
|Bank|Interest|0|0|
|Sub-Total|(B1a|+|B1b|+|B1c)|6500|50191|
|Bid|Other|Receipts|
|Transfer|from|Unrestricted|Funds|0|0|
|Transfer|from|Deposit Accounts|0|0|
|Loans|Received|0|0|
|Loan|Repayments|Received|0|0|
|Total|Receipts|for|Section|B1|6500|50191|
|B2|Payments|
|B2a|Payments|for|Generating|Funds|0|0|
|B2b|Charitable|Payments|
|Ministry|Staff|salaries,|and|Ministry|Gifts|0|0|
|Ministry &|Staff|expenses|0|0|
|‘|Scholarships,|Grants|etc|0|0|
|Gifts|to|other|Charitable|organisations|6550|49200|
|Conference|and|Meeting|Expenses|0|0|
|Purchase|of Teaching|Materials|0|0|
|General|Administration|costs|75|75|
|Sub-Total|(B2a|+|B2b)|6625|49275|
|B2c|Other|Payments|
|Transfer|to|Unrestricted|Funds|646|0|
|Transfer|to|Deposit|Accounts|0|0|
|Loans|Made|0|0|
|Loan|Repayments|Made|0|0|
|Total|Payments|for|Section|B2|7271|49275|
|Net|Receipts/(Payments)|-771|916|
|Cash|funds|last|year|end|4202|3286|
|Cash|funds|this|year end|3431|4202|
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Charity Commission Number 1000113
Charity Name Torchbearers Trust
Financial year ending 31/03/2024
Statement of Assets and Liabilities
| This year | Last year | |||
|---|---|---|---|---|
| D1 | Monetary Assets | |||
| D1a Cash Balances on Receipts & Payments a/c | ||||
| General Account | 1389 | 1916 | ||
| J Prockter Expense Account | 810 | 177 | ||
| Petty Cash | 0 | 1 | ||
| Hope Foster Home Beijing Account (Restricted) | 262 | 860 | ||
| Base Camp Ministries (Restricted) | 4 | 650 | ||
| Horses for Orphans (Restricted) | 3165 | 2692 | ||
| Dib Other Monetary Assets | ||||
| Epworth Affirmative Deposit Fund (Restricted) | 123 | 117 | ||
| Loans Due to the Charity | 257 | 0 | ||
| D3a Investment Assets | 0 | 0 | ||
| D3b Assets | retained for the Charity's Own Use | 0 | 0 | |
| D2 | Liabilities | LoansowedbytheCharity | 300 | 354 |