THE ANNUNCIATION TRUST Annual Report and Accounts FOR THE YEAR ENDED 29 FEBRUARY 2024 Charity Number 1017702
THE ANNUNCIATION TRUST CONTENTS PAGE FOR THE YEAR ENDED 29 FEBRUARY 2024 Charity Number 1017702 Annual Report ststement of Financial Acbvib8S Balance Sheet Notes to the accounts Independent Examinerfs Report
THE ANNUNCIATION TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024 Charlty Number 1017702 The trustees prewt their annual report and finanrial ststemerrts of the ¢hartty for the Jear ended 29 February 2029. The financial staternts have been prepared in accordan( bmth the acrA)unting w)liaes set out in note 1 to the aco)unts and comply bMth the charitys Declaration of Trust, the Chafiknes Ad 2011 and Acunting arKI Reporting by CharTtTr85: Ststemenl of Re)MMended Practice applicable to charitses prepariThJ their ao))unts in aLx))rd8nce vthth the Finanal Re[ing Standard applicable in the UK and Republic of Ireland published on 16 Juty 2014. Reference and Admlnlstrallve Informa Trustees lan Robert Vvalte Adrian Botfflght Ruth Yeoman {rellred 27 Aprfl 2023) rimothy Morris Ajban J)ne$ {SPinted 27 21f23} Alison Hthka (apinted 27 April 2023) Mithael O'Haloran {appJinted 27 Apr 2023) Charit8 principal address 26 Primrose Crescent Plnchbet Spalding ncdnshKe PE11 3RT Independent examlner TC 8ulley Davey 1- 4 London Road Sp8ldwig Lin¢c4nshire PE11 2TA Bankorn Llowjs Bank PIC 11 High Street Horley Surrey RH6 7BJ Structuro G0vornan and Managemont Govemlng Document The Chavlty vms estab by a Dedarat)n of TTLt datsd 171h Febnry 1993 by the orwinal trusteeB, Chun Mee Yatss. DlleY lan Archer. Gordon Jeff 8nd 8ereni( Susan Klng aThl is registered wllh the Chaiity Conynlsslon. number 101771Y2. Appolntment of Truste The charity is adMlStered by a managamont commitleo ts)nsistsThJ of at laast three lItea8. Whernv•r rnmber of ljustees Is reduced to lass thon threo. an oppoinlmont shall b8 mad8 as S)n as * is prable to thi so. Page 1
THE ANNUNCIATION TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 29 FEBRUARY 2024 Charity Number 1017702 ObCtIVeS and Aetlvltles The wk of the Tnt SWF¢rtS P80th failh i¢Mxnoy is wtsJ8 th8 CIvi8ton rtwrch. as 11 as ltr• wthn it by encOd SFAriiual Direthon and ossoraated mlnlslries thgt buld perscrnl of G(xl. Spirilual Dire(on a proph8tic minlstry that SLPFK)rts a1 wwire¥ thg Way live in so¢ty as obzens arm1 ne. knngst other thir4Js, Spiritual Direction: o deep avrdreness of God 0 frees people io h)ve and tnLSt wth drThent o seeks to integrate ttssy. rnind spirit in holstsc SFdrittlty has an W¢t upon Ihe day -kntsy, in(A11a in ts)mmivMty7hh other. The beneficiaries of th8 Trust off o qukt doys arbj retreats o training aNI longer Cr8e$ o supervision of others grwed in SrItual dSredK o continuirwj professbn81 dent for gnxws of Swknl Diredors Achlevements and Parfornwnco The charfty conllnues to support the of rrent b(¥IeS vMYly. Revd Horry PhNgan. Mwgan. Revd pa Booth. Jullan Maddock. Sister Rachel Overton, Aison w0cA arKI R6vd Helm. arKI akn oc¢85k+nalty Sup othws ergaged in simlar work Vith small grants. Financial Revlew The ¢harity had a net dLYVVJ the of£11.057. General Fund This bs a where am donakn are pul vkn8n rn berthxary namo is sp•dfod. Al I) relairf to tr nrrir& admirri5tration ofthe Trust are tsken from this fund. Beneftclarles Funds The beneficiaries mentloned above reeeNe from members ofts {Direoee8) ¥ re1ve Spiri1 dlroction from them and also OCC4SK•nal grants from other charitabb trLts and fees aTKI th)nalion$ resulting from associated ministrles. Th amounts are kept In separate fiAs. Al b8neficlaries' lunds are eslablished as restrifknl aThl are for the so w ofthe named benefidary. Reserves The Irustees rèviaw 8nnualty the amount of fuThJs Iwkl in the Genernl FurKI lo onsure them are sufftnt fiAKls to meet 811 possibb& conlrgenaes that may forese8aW aTiBe. A minknum balan( of£S.000 is kept kn the Ger*ral FU1. Approved by the charity5 trte0$ arKI SI on thelr behaK by Re1 lan Robert WaN8rs Slgnalory: l R Waltèrs Posltlon: Honorary Treasurer Datod: Page 2
THE ANNUNCIATION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 29 FEBRUARY 2024 Charlty Numb•r 1017702 Yw •nd•d 29 F•bn*ry 2024 2023 Funds Funds In¢om Donatkn Invesknent Income 218) 21b) .181 76.&)6 76,811 110 Total in¢¢ym• 7.9¥3 71.867 79.eio 76,921 Exp•nditurn Charitable activltses Govemance ¥a) 4b) 72,428 3,133 4022 4022 Tol•l •xwnditurn 75.S61 N•t Incom• l (•xpendituro) 1.TlO 787 10.557 1.360 Tran•f•rn b•lw••n fund• Net moN•m•nt In fvnds 1m3 734 10.557 Ra¢on¢lliation of fund8: Total funds trfought forwa 1Q008 87.754 103.762 102,402 Total funds ¢affknd fr•rward 17M31 114,319 103,762 The notes on pages 5 to 7 fm 8 part of the finanual Statem1$ Page 3
THE ANNUNCIATION TRUST BALANCE SHEET AS AT 29 FEBRUARY 2024 Charlty Number 1017702 As at 29 F•bruary 2024 •bruary 2023 Curr•nt a•••ts: Cash at bank and In hand 114J19 103.762 Total not ass•ts 11V19 103.762 Tho funds of th• Gharlty: Restdcted income Unrestricted Income fXIS 4&6 5&6 87,754 16.008 17.831 Total charlty funds 103,762 Approvod by th8 Tn arKI swjned on thèr b8half by Slgnatory: Posltlon: The notes pa8 510 7frym awt of Iho frncial statwnents Page 4
THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 l. Ac¢¢)untlng Poli¢io• 8a•l• of pr•paratlon and ass•¥sm•fft of golng conwn The Iln8nd81 stslements have been prepared UVKler the hlsiorfral cost wlh item5 recowwj at CX>5t or transac valuo unless otherwise stated in the relevant Th)te to tsse accourts. financial statsments have been prepared in accordanc the Statement of Recnmrnend Praclic8.' A¢cfjuthJ and Rep)rtirwJ by Charikn prepariThJ their acLounts 8¢ci>rdanc with tho Finanoa81 Reporbng StarKlaTd aWKable kn ts UK Repubk of IrelarKI IFRS 102) on 16 Juty 2014 and the Finan1 Reportr& Starthrd applrable in ts Uniie(l KJrydom and Rwblc of IrelaTrJ (FRS 11T2) a1 Charltlos Act 2011. The trust constitutes a publ bonefft Y as deflrnd by FRS 102. The trustees Lvnskter thot there are rn matsri81 alxmrt Ihe abllty kn o)nllnuo as 0 9)Ing vjncam. Fund8 Stvuctur• Restrictsd funds It)se are to be ed tDr speard puryx>s8s as dty•m tythg dornr, or acrthYJY& to th8 reglabons oftht grant $uppli&J. Expendith meots Ilwe is AlenlI bythè finl. twer ilh a fa allotion ofsupport costs wthgrg applIcae. Unrestrirt8d funds are donatbns and othw knu)me r1ved or the objects ofts thritythfythout fwtsr spedfigd WF•Xa arm1 are availab as weral fvrKIs. In¢om• r•¢ognftlon l income is recognSsed t)r ts charlty has entiUeffnl it IS Fbabkn thai th8 Inc£rfn• TAII b& rnc8lvad and the amount of inwme receivabl8 be measured reli8bty. Grants and donations are recni%e when the charity has to resowc68. Where K1)me has related eX[K1[lue las fundrakslrvJl the inc¢me 8Th1 related eYpendire arg r8gJgnisgd gross. Grfts in kirJ and donoted Ser ond fadllues arn 0Y in inox)me (Wlth equNalent amcxmrt in r8s(wrco$ experKled) tho ts8fft to the ¢hartiy 15 reasonabty qUantIable, Thaswable and maierial. va0 placed M these rgsources Is the estimated value to Ihè thariiy ofthe servir facAty rgcwed. Wh8rn the income 15 considered material, no value is induded in the accounts. Interest on fvnds h8ld on deposit is recavable 8r#d tr arn1 b8 m8asured rdHbty byth8 chariiy. thls nomally on notification ofthe interest pakl or payablo bythg tth. Exponditure recognltlon Uabilibes 8re reo)Jnised as stn as Ihere is g kgal ¢cthmitlwwJ ts (arity to that e>ibJre, rt ' probable that setd8m8ntwlll bo roqulred a1 tr 8ffLJunt of obhJalitin measured Teliatty. All expenditure Is account8d for on an accruals bas15. Al eypenses irKaKliry support costs and govem8n( rg)sts are allocated orapporuoned lo applicable expernjiture Iwdiry. Irrecoverab VAT 5s dwrg8d to th8 SOFA as wicurrgd. Grants payable are payments made to tr¥rd parties in fv fUrts[a ofts dHrfIth of the IntsL Grani offws arè accru8d On tha reripient has been r#)tifd of the grant a•rdTd. The trust Ss a r8gisterod ¢harttyatrxl a¢Cydh is èxempt fmm tsyatJn on its ond gakns are appw charitable purposes. Page 5
THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 In¢om• TOTAL FUNDS 2023 Funds Furbd¥ 2{0) Donations Plann8(J giving 3B.065 9.017 36.C67 9,1g2 31,552 76,811 9.017 Othar donath)ns &1.181 2{b) Investm•nt InMm• 76,806 3.054 3.054 110 110 Total 7,993 71M7 79.860 76,V21 Exp•ndftuf• TOTAL FUNDS TOTAL FUNDS 2024 2023 Funds FundB 3(al Charftabh acthrfths SpirSlual Directors J Maddock- Donation 65.749 720 2,700 1,000 A Woolley- Donalion S M A18tt- Donation othgr. Meotings a1 retreats 2201 1201 1,259 72.428 Ib) GOTranC• Indep8ThJent examr*s fee Bookkeepi Websiie costs AGM costs ind1ng and accLYnmod8tKJn Sundry gxpenses Trustse expenses for meetings 954 912 410 227 2304 63 4.022 022 3.133 Totsl 6323 69.303 75.561 Pag8 6
THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 RESTRICTED FUNDS The Testrlthd lunds on Ihe balgnc• sheet rdato to:. At 1 Mh Incoming Othgoln At 28 Febru•ry 2024 J Maddock P Booth H MwJan S Morgan R Ovorton N Helm A w118Y 2Q753 (30.0> (1836) (9.050) {50) 1500) 11.050) (116001 97 9.163 11A10 7.950 13,919 2.505 31,098 14,392 27348 716 3211 9A70 19.13S 87.754 16357 71.867 63.080 UNRESTRICTED FUNDS Th8 unrestrlrt¢d funds on the balanre $hgOt refakn to:. At 1 Inc¢)mN¥ Outgolng At 28 F•bruary 2024 Gengral Furrtl 1(008 1¢008 7.993 53 17,831 17m1 ANALYSIS OF FUND ASSETS AND UABILMES TOTAL 2023 Funds Funds Current assets 17m1 114.319 102.402 Th8 unrestricted furKls ofthe ¢arSty may applwl forany cavitsbfe at tr dwglion ofthe Inthos. Tru¢eM' Expwwl During the year threg (2023. three) of the have been r*thwsed by th8 Tr1 knr travel axponses totsl £796 (2023- £225}. Page 7
INDEPENDENT EXAMINERS REPORT ON THE ACCOUNTS OF THE ANNUNCIATION TRUST FOR THE YEAR ENDED 29 FEBRUARY 2024 Charlty Nwnb•r 101T102 I reptyt on the aco)unts of the knundal)n Tnl for th8 ended 29 F8bruary 2024. aro set out on pag98 3 Rolpeclhp r•spon•ibHIti•8 of Iru•t•u and •xamin•r The charivs trustees aro resprrrible frx ts Frlon oftho acL¥)ts. Thè thrltys c>)rthler thal an aud is rK)t required for this year LrMfj8r secon 144 of Charlues Art 2011 Chatlkn W arKI Ihat an 1r¥j8Fd9nI examination Is ngeded. It Is my responsibillty to examine ts accx)unts secthn 145 of the chartt Art. io fr)IkThv pror¥durns down in tho General DTrthons given by ts Chafity Cornmssw)n <er sedwjn 144SXb) of ts cthe$ Art arwj to stale whether parti1r matt6rs havè come to myattenlwx. Bas18 of Indond•nt •xamlnef$ 8tat•m My examinaTr was carried out in acx))TdarK 1P1h tho Ger Dvec4hM glvan by the Charity CommBsbn. An examinaoon vidude8 a revlew of thè aoy)unting rernrds kept by the chaiity and a (nparison of th8 8Ixots presented wlth those reo)rds. It also Inctudes o)nsJeratton of ary LIxu?1 riem8 or dlsd05ures in tho ac•))unts, arKt seeking explanation5 frorn trustoos nCM any such matters. Tr procedures undertaken do not provide all the evtdence that %Uj bè require(I In an audit, a ¢orww rK) orAnknn &uven as to acox4ts pres1 ITue and falV view 8fKI thg rep(Yt is Ilmited to t$9 matters set out In IhE slatem8nl bekyw. Ind•wKlent oxamlnorfs stslwnènt 1. lthlch gives me reasonable sxuso to iIovo Ihai kn. any maknial respec( tr requtrements: (a) to keap arxounth¥J reftJs In acrthdanco with sedn 130 of lh8 Ctwrfts A¢ and Ib) to prepare accounts which ac(yJrd wth re(xvts and u)mply hilh th8 arA))unllng requrements ofthe Charitles Act 2. to which. In my opin¥)n. att8ntAin bg drawn cwthrlo enab a Fwper of tha a¢ants to r98thed. Petor Wrlght FCCA TC Group 1 . 4 London Road Spaldlng ncolnshire PE112TA Datod: Page 8