## **THE ANNUNCIATION TRUST**
## **Annual Report and Accounts**
**FOR THE YEAR ENDED 28 FEBRUARY 2022**
**Charity Number 1017702**
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**THE ANNUNCIATION TRUST CONTENTS PAGE FOR THE YEAR ENDED 28 FEBRUARY 2022**
**Charity Number 1017702**
||**Page**|
|---|---|
|Annual Report|1 - 2|
|Statement of Financial Activities|3|
|Balance Sheet|4|
|Notes to the accounts|5 - 7|
|Independent Examiner's Report|8|
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**Charity Number 1017702**
## **THE ANNUNCIATION TRUST TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2022**
The trustees present their annual report and financial statements of the charity for the year ended 28 February 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Declaration of Trust, the Charities Act 2011 and 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 published on 16 July 2014.
## **Reference and Administrative Information**
## **Trustees**
Ian Robert Walters Ruth Yeoman Adrian Botwright Neil McClements (resigned 21st October 2021)
## **Charity's principal address**
6 Wargate Way Gosberton Spalding Lincolnshire PE11 4NH
## **Independent examiner**
TC Bulley Davey 1 - 4 London Road Spalding Lincolnshire PE11 2TA
## **Bankers**
Lloyds Bank Plc 11 High Street Horley Surrey RH6 7BJ
## **Structure Governance and Management**
## **Governing Document**
The Charity was established by a Declaration of Trust dated 17th February 1993 by the original trustees, Chun Mee Yates, Dudley Ian Archer, Gordon Jeff and Berenice Susan King and is registered with the Charity Commission, number 1017702.
## **Appointment of Trustees**
The charity is administered by a management committee consisting of at least three trustees. Whenever the number of trustees is reduced to less than three, an appointment shall be made as soon as it is practicable to do so.
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**Charity Number 1017702**
## **THE ANNUNCIATION TRUST TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **Objectives and Activities**
The work of the Trust supports people whose faith journey is outside the Christian church, as well as those within it, by encouraging Spiritual Direction and associated ministries that build upon personal experience of God.
Spiritual Direction is a prophetic ministry that supports and inspires the way we live in society as citizens and neighbours. Amongst other things, Spiritual Direction:
o deepens awareness of God
o enables people to become more conscience of what matters most to them
o frees people to love and trust with discernment
o seeks to integrate body, mind and spirit in holistic spirituality
o impacts how we live daily life and community
## The beneficiaries of the Trust offer
o one-to-one spiritual direction and spiritual conversation
o quiet days and retreats
o training days and longer courses
o supervision of others engaged in spiritual direction
o continuing professional development for groups of Spiritual Directors
The Trust supports people whose faith journey is outside the church, as well as those within it.
## **Achievements and Performance**
The beneficiaries of the Trust are Revd Henry Morgan, Sylvia Morgan, Revd Paul Booth, Julian Maddock, Sister Rachel Overton, Alison Woolley and Revd Nick Helm, and also occasionally supports others engaged in similar work with small grants.
## **Financial Review**
The charity had a net income during the year of £8,287.
## **General Fund**
This is a fund where all donations are put when no beneficiary name is specified. All costs relating to the running and administration of the Trust are taken from this fund.
## **Beneficiaries Funds**
The beneficiaries mentioned above receive donations from members of the public (Directees) who receive spiritual direction from them. These donations are kept in separate funds. All beneficiaries' funds are established as restricted and are for the sole use of the named beneficiary.
## **Reserves**
The trustees review annually the amount of funds held in the General Fund to ensure there are sufficient funds to meet all possible contingencies that may foreseeably arise. A minimum balance of £5,000 is kept in the General Fund.
Approved by the charity's trustees and signed on their behalf by Revd Ian Robert Walters
**Signatory: I R Walters Position: Honorary Treasurer Dated: 05 July 2022**
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**Charity Number 1017702**
## **THE ANNUNCIATION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022**
|**Income**
Notes
Donations
2(a)
Investment income
2(b)
**Total income**
**Expenditure**
Charitable activities
3(a)
Governance
3(b)
**Total expenditure**
**Net income / (expenditure)**
**Transfers between funds**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Year ended 28 February 2022**
**2021**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
**7,826**
**57,478**
**65,304**
70,835
**8**
**64**
**72**
660|
|---|---|
||**7,834**
**57,542**
**65,376**
71,495|
||**1,493**
**62,779**
**64,272**
57,907
**1,409**
**-**
**1,409**
1,400|
||**2,902**
**62,779**
**65,681**
59,307|
||**4,932**
**(5,237)**
**(305)**
12,188
**-**
**-**
**-**
-|
||**4,932**
**(5,237)**
**(305)**
12,188
**13,038**
**89,668**
**102,706**
90,518|
||**17,970**
**84,431**
**102,401**
102,706|
_The notes on pages 5 to 7 form a part of the financial statements_
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**Charity Number 1017702**
## **THE ANNUNCIATION TRUST BALANCE SHEET AS AT 28 FEBRUARY 2022**
|Notes
**Current assets:**
Debtors
4
Cash at bank and in hand
**Liabilities:**
Creditors: Amounts falling due within one year
5
**Net current assets**
**Total net assets**
**The funds of the charity:**
Restricted income funds
6 & 8
Unrestricted income funds
7 & 8
**Total charity funds**|**As at 28 February 2022**
**£**
**£**
**-**
**102,402**
**102,402**
**-**
**102,402**
**102,402**
**84,432**
**17,970**
**102,402**|**As at 28 February 2022**
**£**
**£**
**-**
**102,402**
**102,402**
**-**
**102,402**
**102,402**
**84,432**
**17,970**
**102,402**|**As at 29 February 2021**
**£**
**£**
8,855
94,451
103,306
(600)
102,706
102,706
89,668
13,038
102,706|**As at 29 February 2021**
**£**
**£**
8,855
94,451
103,306
(600)
102,706
102,706
89,668
13,038
102,706|
|---|---|---|---|---|
||||103,306
(600)||
||||||
|||**102,402**||102,706|
|||**84,432**
**17,970**||89,668
13,038|
|||**102,402**||102,706|
Approved by the Trustees and signed on their behalf by
## **Signatory:**
## **Position:**
**Date:**
_The notes on pages 5 to 7 form a part of the financial statements_
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## **THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **1. Accounting Policies**
## **Basis of preparation and assessment of going concern**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The trust constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the trust's ability to continue as a going concern.
## **Funds structure**
Restricted funds are those which are to be used for specified purposes as laid down by the donor, or according to the regulations of the grant supplied. Expenditure which meets these criteria is identified by the fund, together with a fair allocation of support costs where applicable.
Unrestricted funds are donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds.
## **Income recognition**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants and donations are recognised when the charity has unconditional entitlement to the resources. Where income has related expenditure (as with fundraising) the income and related expenditure are recognised gross. Gifts in kind and donated services and facilities are only included in income (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. Where the income is not considered material, no value is included in the accounts.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally on notification of the interest paid or payable by the bank.
## **Expenditure recognition**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. Irrecoverable VAT is charged to the SoFA as incurred. Grants payable are payments made to third parties in the furtherance of the charitable objects of the trust. Grant offers are accrued once the recipient has been notified of the grant award.
## **Taxation**
The trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
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## **THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
|**2.**
**Income**
2(a)
**_Donations_**
Planned giving
Income tax recovered
Other donations
2(b)
**_Investment income_**
Interest on cash deposits
**Total**
**3.**
**Expenditure**
3(a)
**_Charitable activities_**
Spiritual Directors
Other - Meetings and retreats
3(b)
**_Governance_**
Independent examiner's fee
Bookkeeping
Website costs
AGM costs including food and accommodation
Trustee expenses for meetings
**Total**
**4.**
**Debtors**
Tax refund due
**5.**
**Creditors**
Independent examiner's fee accrual|**Unrestricted**
**Restricted**
**TOTAL FUNDS**
**Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
**-**
**36,768**
**36,768**
35,413
**-**
**-**
**-**
8,856
**7,826**
**20,710**
**28,536**
26,566|**Unrestricted**
**Restricted**
**TOTAL FUNDS**
**Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
**-**
**36,768**
**36,768**
35,413
**-**
**-**
**-**
8,856
**7,826**
**20,710**
**28,536**
26,566|
|---|---|---|
||**7,826**
**57,478**
**65,304**
70,835||
||**8**
**64**
**72**
660||
||**8**
**64**
**72**
660||
||||
||**7,834**
**57,542**
**65,376**
71,495||
||**Unrestricted**
**Restricted**
**TOTAL FUNDS**
**TOTAL FUNDS**
**Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
**-**
**62,779**
**62,779**
57,907
**1,493**
**-**
**1,493**
220||
||**1,493**
**62,779**
**64,272**
58,127||
||**294**
**-**
**294**
804
**315**
**-**
**315**
514
**-**
**-**
**-**
58
**800**
**-**
**800**
-
**-**
**-**
**-**
24||
||**1,409**
**-**
**1,409**
1,400||
||||
||**2,902**
**62,779**
**65,681**
59,527||
|||**2022**
**2021**
**£**
**£**
**-**
8,855|
|||**-**
8,855|
|||**2022**
**2021**
**£**
**£**
**-**
600|
|||**-**
600|
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## **THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022**
## **6. RESTRICTED FUNDS**
The restricted funds shown on the balance sheet relate to:-
|J Maddock
P Booth
H Morgan
S Morgan
R Overton
C Brown
N Helm
A Woolley|**At 1 March**
**Incoming**
**Outgoing**
**At 28 February**
**2021**
**Resources**
**Resources**
**Transfers**
**2022**
**£**
**£**
**£**
**£**
**£**
**13,524**
**24,132**
**(32,000)**
**-**
**5,656**
**11,401**
**1,984**
**(3,506)**
**-**
**9,879**
**17,296**
**8,915**
**(10,718)**
**-**
**15,493**
**1,929**
**707**
**-**
**-**
**2,636**
**38,048**
**13,413**
**(13,200)**
**-**
**38,261**
**587**
**160**
**(737)**
**10**
**1,939**
**3,653**
**-**
**-**
**5,592**
**4,944**
**4,579**
**(2,618)**
**6,905**|
|---|---|
||**89,668**
**57,543**
**(62,779)**
**-**
**84,432**|
## **7. UNRESTRICTED FUNDS**
The unrestricted funds shown on the balance sheet relate to:-
|General Fund|**At 1 March**
**Incoming**
**Outgoing**
**At 28 February**
**2021**
**Resources**
**Resources**
**Transfers**
**2022**
**£**
**£**
**£**
**£**
**£**
**13,038**
**7,834**
**(2,902)**
**17,970**|
|---|---|
||**13,038**
**7,834**
**(2,902)**
**-**
**17,970**|
## **8. ANALYSIS OF FUND ASSETS AND LIABILITIES**
|Current assets
Current liabilities
Total|**Unrestricted**
**Restricted**
**TOTAL**
**TOTAL**
**Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
**£**
**17,970**
**84,432**
**102,402**
91,118
**-**
**-**
**-**
(600)|
|---|---|
||**17,970**
**84,432**
**102,402**
90,518|
The unrestricted funds of the charity may be applied for any charitable purpose at the discretion of the trustees.
## **9. Trustees' Expenses**
During the year three (2021 - three) of the trustees have been reimbursed by the Trust for travel expenses totalling £250 (2021 - £199).
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**Charity Number 1017702**
## **INDEPENDENT EXAMINERS REPORT ON THE ACCOUNTS OF THE ANNUNCIATION TRUST FOR THE YEAR ENDED 28 FEBRUARY 2022**
I report on the accounts of the Annunciation Trust for the year ended 28 February 2022, which are set out on pages 3 to 7.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act") and that an independent examination is needed.
It is my responsibility to examine the accounts under section 145 of the Charities Act; to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- (a) to keep accounting records in accordance with section 130 of the Charities Act; and
- (b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Peter Wright FCCA**
TC Group 1 - 4 London Road Spalding Lincolnshire PE11 2TA **Dated: 5 July 2022**
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