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2023-06-30-accounts

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Filename: 2023 - Charity Accounts Final.pdf
Client of: Stewarts Accountants Limited

Signature Details

Name: Stefan Abramian
Email: abramian.stefan@mail.com
Date & Time: 02/04/2024 16:14:58 PM (BST)
IP Address: 94.193.81.11
Signing Statement: Stefan Abramian agrees and approves the
contents of this document.

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Charity Registration Number: 1002449

The Way Inn Christian Centre Trust Annual report and Accounts for the year ended 30 June 2023

Stewarts Accountants Limited 271 High Street Berkhamsted Herts HP4 1AA

The Way Inn Christian Centre Trust

Contents

Reports

Legal and Administrative Information Report of the Trustees Independent Examiner’s report

Accounts

Consolidated Statement of Financial Activities Balance sheet of the charity Consolidated balance sheet Principal accounting policies Notes to the accounts

Restricted Funds

Statement of Restricted Funds 16
Grant Providers 16
Notes on Restricted Funds 17

Page 1

The Way Inn Christian Centre Trust

Legal and Administrative Information

Trustees S Abramian (Chairman)
J Fisher
L Morgan
Registered Address The Way Inn
268 High Street
Berkhamsted
Herts
HP4 1AQ
Charity Registration Number1002449
Accountants Stewarts Accountants Limited
271 High Street
Berkhamsted
Herts
HP4 1AA
Bankers Clydesdale Bank
Tempus 249 Midsummer Boulevard
Milton Keynes
MK9 1EA
Solicitors Austins LLP
175 High Street
Berkhamsted
Herts
HP4 3AP

Page 2

The Way Inn Christian Centre Trust

Report of the Trustees for the Year ended 30 June 2023

The Trustees present their statutory report together with the consolidated accounts of The Way Inn Christian Centre Trust for the year ended 30 June 2023.

The results for the year are presented in the form of a Statement of Financial Activities, which adopts the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” 2005.

Structure, governance and management

The Way Inn Christian Centre Trust is an unincorporated trust governed by a trust deed dated 15 February 1991 and is registered under the Charities Act 2011, charity registration number 1002449.

Recruitment and appointment of trustees

As per the constitution, Trustees appointed by the board are recruited according to the constitution via recommending bodies.

Objectives and Activities

The principal charitable objective of The Way Inn Christian Centre Trust is the advancement of the Christian religion through the acquisition and maintenance of centres in Berkhamsted that express the social mission of the Christian Church for the whole community of Berkhamsted and the surrounding villages. In setting our objectives and planning our activities our Governors have considered the Charity Commission’s public benefit guidance.

The Trust achieves this by providing community spaces in which all sectors of the community can meet and connect, and feel encouraged, supported and a valued part of our community and society. The Trust has seen a huge increase in social isolation and people’s anxiety and stress levels due to the pandemic, increasing financial burdens and a struggling economy.

The original centre ‘Way Inn Christian Centre Trust’ provides the town’s main Post Office, a shop selling stationery and greetings cards, Christian literature, gifts and books, and DENS foodbank collections. It offers signposting to other services, warm spaces, local charities, churches and community meal provision, and is a registered warm space. The funding of these activities has been mainly through the Trust’s trading subsidiary, which operates the shop and the Post Office.

As the town grew the Trust noticed an increase in loneliness, social isolation and food poverty and a need was seen for the means and space to tackle this.

In 2017 a new rental property was acquired by the Trust to increase its ability to meet its objective of ‘Caring for the Community’.

Known as Open Door the centre developed to serve the community of Berkhamsted and surrounding villages through the provision of a donations-based cafe, arts and well being classes, an exhibition space for local and community art and an encouraging space for people of all ages to meet and make connections or just be themselves.

The centre has worked with local and national charities and agencies to increase and create community awareness of, and thus help in the reduction of, loneliness and social isolation.

Initial funding was through:-

Venue Hire for small businesses and clubs Takings from the café provided in the space Provision of exhibition space and workshops for and by local artists, societies and organisations.

Open Door has been supported during the year by 25 volunteers in the café and 40 volunteers for other activities.

Page 3

The Way Inn Christian Centre Trust

Achievements and Performance

The Trust’s main objectives for the year continued to be the development of Open Door, our community space. Moving from a small volunteer run organisation we have worked hard to come together to deliver and expand our charitable objectives for our community.

Arts and Well-being Activities

Open Door has provided an increasing range of arts and physical and mental well-being activities. These take place both in person and on-line, allowing them to be accessed by all members and sectors of the community. Our Make and Mend Project continued, providing sewing classes and other events.

The Food Projects

Open Door’s donations-only Community Café allows us to support those without the means to provide for themselves. We provide the local community with access to emergency food supplies through our Community Pantry, which is available 24 hours a day. The Community Fridge collects food waste from our local supermarkets each week and redistributes it.

We also distribute information from local charities and churches on warm spaces and provision of community meals in the town. Our links with Dens (a local Homeless Charity) and the Food Bank (based in our Town Centre space) provide longer-term help for those in need.

Volunteering

We provide opportunities for volunteering for all sectors of the community, from young people to those in retirement. These included roles in our community café, our community garden, our arts space the Community Pottery Shed and our memory café for dementia sufferers and their carers.

Through taking part in events and training our volunteers were able to use their present skills as well as develop new skills and the confidence to re-engage with Society.

Memory Café

Our weekly Memory Café, run in Open Door in partnership with Home Instead, provides support for dementia sufferers and their carers.

Support for the Ukrainian Cause

Following the February 22 Russian Invasion of Ukraine, the Trust held an art exhibition to help the Ukranian cause through art and café sales. The Trust continues to support the cause with the provision of space for English language lessons and ‘Meet-ups’, counseling and information.

Site Improvements

The installation of an accessible toilet has enhanced the usability of our space and our ability to welcome a wider sector of the community. Our community garden has been developed, providing a restful space for the café and events.

Operational Improvements

Behind the scenes we have been improving our policies, health and safety procedures and processes to ensure we operate as safely and effectively as possible.

Plans for the future

The Trust will continue and build on the activities and services offered, with a focus on making our services as accessible as possible for all in the community.

We will broaden our engagement with a wider range of outside agencies and create opportunities to support local small businesses and community organisations.

We will continue to review and improve our governance to embed financial and operational stability.

Financial review

The financial position of the Trust continues to be satisfactory in 2022-23 despite having realised a net deficit of £5,222 through its charitable activities and the trading activities of the wholly owned subsidiary. The Trust had a restricted funds balance of £23,815 at the close of the period.

Page 4

The Way Inn Christian Centre Trust

Reserves Policy

The Trustees have established a policy to maintain unrestricted reserves at a level which ensures the charity’s contractual obligations can be met at any given time.

Grants Received

The Trust received many grants during the 2022-2023 Period and continues to rely on this valuable support.

In February 23 The Trustees were delighted to be awarded core funding from National Lottery Community Fund RC London and South East Region. The Trust will receive £301,752 over 5 years to assist with the growth of its Open Door project. The payments are made half-yearly, and are a huge support towards Open Door's aim of becoming self-sufficient by 2028. The first half-yearly payment of £33,450 was received in March 23.

The Trust’s other notable grant receipts were as follows:

Other smaller but very much appreciated grants were provided by:

We are grateful for support from local supermarkets, local churches, Rotary and local businesses for our food projects and other activities.

Risk Management

The Trustees examine the principal areas of the charity’s operations and consider the major risks faced in each of these areas.

In their opinion systems are being established which, under normal conditions, should allow these risks to be mitigated to an acceptable level in its day-to-day operations.

Trustees’ Responsibilities Statement

The Trustees are required to prepare accounts for each financial year which give a true and fair view of the state of the affairs of the Trust and of the surplus or deficit of the Trust for that period. In preparing those accounts, the Trustees are required to:

Page 5

The Way Inn Christian Centre Trust

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Trust and to enable them to ensure that the accounts comply with the Charities Act 2011. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Trust and to prevent and detect fraud and other irregularities.

Signed on behalf of the Trustees:

S Abramian Trustee Approved by the Trustees on 26 March 2024

Page 6

The Way Inn Christian Centre Trust

Independent Examiner’s Report

I report on the accounts of the Trust for the year ended 30 June 2023, which are set out on pages 8 to 15.

Respective responsibilities of trustees and examiner

The charity’s trustees consider that the audit requirements in the Charities (Accounts and Reports) Regulations 2008 (“the Regulations”) and section 144(2) of the Charities Act 2011 (“the Act”) do not apply. It is my responsibility to issue this report on those accounts in accordance with the terms of the Regulations.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners under section 145(5)b of the Act. That examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the trustees have not met the requirements to ensure that:

  2. § proper accounting records are kept in accordance with section 130 of the Act; and

  3. § accounts are prepared which accord with the accounting records and comply with the accounting requirements of the Act and the Regulations; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

G D James ACCA Stewarts Accountants Limited 271 High Street Berkhamsted Herts HP4 1AA

Date: 28 March 2024

Page 7

The Way Inn Christian Centre Trust

Statement of Financial Activities for the Year Ended 30 June 2023

2023
Notes
£
General Fund
Incoming resources from generated
funds:
Donations
Grants
Interest receivable
Incoming resources from charitable
activities:
Open Door
Incoming resources from other trading
activities:
Open Door
Resources expended
Costs of generating funds
2
156,871
Charitable activities
2
14,956
Governance costs
2
1,581
(Deficit) / Surplus for the year
Net resources (utilised) / generated by
trading subsidiary
8
Net movement in funds
9
Balance brought forward
at 1 July 2022
Balance carried forward
at 30 June 2023		 2023
£
14,419
60,872
55
46,154
37,744
159,244
173,408
(14,164)
8,942
(5,222)
420,618
415,396		 2022
£

84,191
14,372
1,672		 2022
£
33,368
44,600
3
30,549
-
108,517
100,235
8,282
9,644
17,926
402,692
420,618

Page 8

The Way Inn Christian Centre Trust

Balance Sheet of the Charity as at 30 June 2023

Notes
Tangible Fixed Assets
Freehold property
4
Office equipment
4
Investments
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
Creditors: amounts falling due
after one year
Bank Loan
Mortgage loan
Total net assets
General Fund
9
Signed on behalf of the Trustees:		 2023
£
-
84,378
84,378
(12,829)
-
-		 2023
2022
£
£
290,000
1,573
2
291,575
-
98,931
98,931
(11,646)
71,549
363,124
-
-
-
363,124
363,124		 2022
£
290,000
-
2
290,002
87,285
377,287
-
377,287
377,287

S Abramian Trustee Approved by the Trustees on 26 March 2024

Page 9

The Way Inn Christian Centre Trust

Consolidated Balance Sheet as at 30 June 2023

Notes
Fixed Assets
Intangible assets
3
Tangible assets
4
Current Assets
Stocks
Debtors
6
Cash at bank and in hand
Creditors: amounts falling due
within one year
7
Net current assets
Total assets less current
liabilities
Creditors: amounts falling due
after one year
Trustee loans
Total net assets		 2023
£
51,375
216
103,618
155,209
(6,011)
-		 2023
£
12,825
293,759
306,584
149,198
455,782
455,782		 2022
£
45,733
11,646
127,660
185,079
(20,408)
(1,800)		 2022
£
14,590
292,316
306,906
164,671
471,577
469,777

Page 10

The Way Inn Christian Centre Trust

Principal Accounting Policies for the Year Ended 30 June 2023

Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with applicable Accounting Standards and the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” 2015.

Basis of Consolidation

The statement of financial activities and balance sheet consolidate the accounts of the charity and its trading subsidiary up to the balance sheet date.

Investments

Investments are included in the accounts at the nominal cost of the shares to the donors.

General Fund

The general fund consists of those amounts which the Trustees may use in furtherance of the charitable objectives of The Way Inn Christian Centre Trust at their own discretion.

No restrictions have been placed on any donations received by the Trust.

Donations

Donations are credited to the income and expenditure account in the year in which they are received. Any recoverable tax is shown in the year of receipt from H M Revenue & Customs.

Investment Income

Investment income is credited to the income and expenditure account in the year in which it is received.

Resources Expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Freehold Property

It is the policy of the Trustees to ensure that the fabric of the property is maintained in good condition. The property was last professionally revalued on 26 September 2019 and no further depreciation is considered necessary for this financial year.

Intangible Fixed Assets

The Post Office licence, which does not have a defined life span, is being amortised over forty years at a rate of 2.5% per annum.

Tangible Fixed Assets

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Fixtures and fittings and equipment 25% straight line method

Page 11

The Way Inn Christian Centre Trust

Principal Accounting Policies for the Year Ended 30 June 2023 (continued)

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.

Cash flow

The accounts do not include a cash flow statement because the group (i.e., the charity and its subsidiary), as a small reporting entity is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 “Cash flow statements”.

Page 12

The Way Inn Christian Centre Trust

Notes to the Accounts for the Year Ended 30 June 2023

1 Trustees’ remuneration

No Trustee received any remuneration in respect of their services during the period.

2 Total Resources Expended
Costs of generating funds:
Rates & other overheads
People costs
Bank charges
Charitable Activities:
Open Door
Donations
Outreach
Governance Costs:
Accountant’s fee
Total Resources Expended
2023

3 Intangible Fixed Assets – Licence
Cost
At 1 July 2022 and 30 June 2023
Amortisation
At 1 July 2022
Charge for the year
At 30 June 2023
Net Book Values
At 30 June 2023
At 30 June 2022		 Staff
Other
Support
2023
Costs
Direct Costs
Costs
Total
£
£
£
£
-
119,502
-
119,502
45,510
-
45,510
-
1,298
-
1,298
45,510
120,800
-
166,310
-
5,497
-
5,497
-
-
20
20
-
-
-
-
-
5,497
20
5,517
-
1,581
-
1,581
-
1,581
-
1,581
45,510
127,878
20
173,408
Group
2023
2022
£
£
70,630
70,630
56,040
54,275
1,765
1,765
57,805
56,040
12,825
14,590
14,590
16,355

Page 13

The Way Inn Christian Centre Trust

Notes to the Accounts for the Year Ended 30 June 2023 (continued)

4 Tangible Fixed Assets

Charity and Group
Group
Freehold
Fixtures,
land and
fittings and
buildings
equipment
£
£
Cost
At 1 July 2022
290,000
49,389
Additions
-
2,254
Revaluation
-
-
At 30 June 2023
290,000
51,643
Depreciation
At 1 July 2022
-
47,073
Charge for the year
-
813
Disposals
-
-
At 30 June 2023
-
47,886
Written Down Values
At 30 June 2023
290,000
3,757
At 30 June 2022
290,000
2,316
5 Investments
2023
£
At cost
2		 Group
Total
£
339,389
2,254
-
341,643
47,073
813
-
47,886
293,757
292,316
2022
£
2

The investment is the whole of the issued share capital of The Way Inn (Berkhamsted) Limited which was received by way of a gift to the Trust.

6 Debtors

Charity
2023
2022
£
£
Other debtors
-
-		 Group
2023
2022
£
£
216
11,646

The Trustees are satisfied as to the value of the debtors.

Page 14

The Way Inn Christian Centre Trust

Notes to the Accounts for the Year Ended 30 June 2023 (continued)

7 Creditors: amounts falling due within one year

Trade creditors
Social security and other taxes
Other creditors
Way Inn (Berkhamsted) Limited		 Charity
2023
2022
£
£
391
-
-
-
-
-
12,438
11,646

12,829
11,646		 Group
2023
2022
£
£
619
5,058
946
1,304
4,446 2,400
-
11,646
6,011
20,408

8 Net income of trading subsidiary

The charity has one wholly owned subsidiary, Way Inn (Berkhamsted) Limited, which is incorporated in the United Kingdom. The company runs the Post Office in Berkhamsted together with a Christian bookshop. A summary of the subsidiary company’s trading results is shown below. Accounts have been filed with the Registrar of Companies.

2023
Profit and Loss Account
£
Turnover
247,890
Cost of Sales
(209,613)
Gross Profit
38,277
Administration
(29,335)
Other operating income
-
Net profit / (loss)
8,942
Taxation
-
Retained in subsidiary
8,942		 2022
£
233,389
((179,828)
53,561
(46,417)
2,500
9,644
-
9,644

Page 15

The Way Inn Christian Centre Trust

Statement of Restricted Funds for the Year Ended 30 June 2023

Core Funding
Accessible Toilet Installation
Make & Mend Sewing Project
Community Fridge
Community Wellbeing Through
Food
Community Food Support
Support for Ops Manager
Salary
Pottery Equipment
Other
Total		 As at 1st
July 2022
Add: Grant
Income
this
Financial
Year
Less:
Direct
Costs
incurred on
project
Transfers
between
funds
As at 30th
June 2023
£
£
£
£
£
-
33,450
(12,393)
21,057
8,500
12,000
(20,710)
210
(1)
-
4,379
-
(3,309)
(1,070)
(2)
-
3,000
-
(2,181)
819
3,000
-
(2,485)
515
-
4,972
(3,548)
1,424
2,866
6,000
(8,866)
-
750
-
(750)
-
3,104
4,450
(6,606)
(948)
(3)
-
25,599
60,872
(60,848)
(1,808)
23,815

Grant Providers

Grant Providers
Core Funding National Lottery Community Fund
RC London and South East Region
Community Fridge Hubbub Foundation
Community Wellbeing Through
Food		 HCC NHS Charities Together
Capt Tom
Community Food Support Community Food Projects Support HCF
Accessible Toilet Installation Hertfordshire County Council
Private Donor
Berkhamsted Town Council
Dacorum Borough Council
Herfordshire County Council Locality Terry Douris
Berkhamsted Parochial
Make & Mend Sewing Project Dacorum Borough Council
Supoort for Ops Manager Salary Berkhamsted Town Council
Pottery Equipment Charitable Pottery trust
Other Various Small Grants

Page 16

The Way Inn Christian Centre Trust

Notes:

  1. small overspend funded from unrestricted funds

  2. income earned during the project and a slight underspend of the grant was transferred to unrestricted fund for use by Make & Mend project in agreement with DCB Green Grants

  3. income earned through Repair Café donations moved to unrestricted funds in accordance with grant terms

Page 17