THE ANNUNCIATION TRUST Annual Report and Accounts FOR THE YEAR ENDED 28 FEBRUARY 2025 Charity Number 1017702
THE ANNUNCIATION TRUST CONTENTS PAGE FOR THE YEAR ENDED 28 FEBRUARY 2025 Charity Number 1017702 Page Annual Report Statement of Financial Activities Balance Sheet Notes lo the accounts Independent Examiner's Report
THE ANNUNCIATION TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 Charlty Number 1017702 The trustees present their annual report and financial statements of the charity for the year ended 29 February 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and omply with the charity's Declaration of Tnjst, 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. R•fer•nco and Adrnlnistrativè Inforniatlon Trustees lan Robert Waller$ Adrian Botsvnghl Timothy Morris Alban Jones Aison Hunka Michael O'Halloran Charltys prlnclpal address 26 Primr08e Crescent Pinchbeck Spalding Lincolnshire PE11 3RT Indepondont examlnor TC 8ultey Davey 1 . 4 London Road Spalding Lincolnshire PE112TA Bankers Lloyds Bank PIC 11 High Street Horfey Surrey RH6 7BJ Structurè Governanco and Manag¢m¢nt Governlng Doeumènt The Charlty wa$ e51abli5hed by a Declaration of Tnjsl ijaled 17th February 1993 by the origlnal Iruslee8. Chun Mee Yale5. Oudley lan Archer. Gordon Jeff and Berenice Susan King and is registed wlh the Charity Commission. number 1017702. Appolntrnent of Trusloes The charity is adm1nls1ed by a management committee consisting ol al lea81 three trustees. Whenever the number of ifuslees is reduced lo less than three, an appointment shall be made as soon as il is practicable lo do go. Page 1
THE ANNUNCIATION TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 Charlty Number 1017702 Objectlves and Activities The work of the Trust supports people whose faith jourrny is vilhin the Chri$lian Church. as well as those outside it. by encouraging Spiritual Direction and associated ministries that build upon personal experience of God. Spiritual Oirection is a prophetic ministry that supports and inSPITe5 the way we live in Soety as cilvns and neHJhbour$. Amongst other things, Spiritual Direction.. o deepens awarene$$ of God o ènableg people lo bècome more conscious of vthal matters most lo them o frees people lo love and trust with diseemmenl o seeks lo integrate body. mind and spirit in holistic spirituality o ha8 an inpacl upon how we live day-lo-day, including in communlty wbth each other. The beneficiaries of the Trust offer o one-lo-one spiritual d1ctIon and $pilltU81 ¢onversalion o quiet days and retre#l$ o training days and longer courses o supervision ol others engaged in spiritual dirgdion o continuing profe$$ional ¢Jevelopmenl lor groups of Splrltual Directors £hloVoments and Perfornian The tharily continues lo support the work of 115 Cuffenl beneficiarie8 namely, Revd Henry Morgan. Sylvia Morgan, Revd Paul Booth, Julian Maddo¢k, Sister Rachel Overton, Ajison Woolley and Revd Nick Helm, and also occasionally SLtpports olhers engaged in Similar work wtlh small grants. Flnanclal Rovl•w The charity had a nel income durfng the ye8r of £19,474. General Fund This is o fund where all dorialions are put vthen no beneflciary name is specified. All co$ls relating lo thè running and admlni81ralion ol the Trusl are taken Irom this fund. Boneflclarfes Funds The beneficiaries mentioned above receive donation8 from members of ihe public Ioire¢lee$) receive spiritual direction from Ihem and also occasional grants from other charrtable trusts and fee5 and donalions resulting from asso¢ialed ministries. These arnounls are kept in ¥eparole fund5. All beneficiaries, funds are e8labli8hed as reslricled and are for Ihe sole use of Ihe named beneficiary. Reserve• The trustee8 review annually the amount of funds held in the General Fund lo ensure there are suffi¢ienl funds lo meet all possible contingenciès that may foSeeablY arise. A minimum balance of £5.000 is kept in the General Fund. Appioved by the charitys Iru$lee$ and signed on their behalf by Revd lan Robert Walters Slgnatory: l R Wallors Posltlan: Honorary Treasurer Dat•d'. 17th May 2025 Page 2
THE ANNUNCIATION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2025 Charfty NuMr 1017702 Y•ar onded 28 February 2025 Unr•8trlctsd R•strl¢t•d Funds Funds 2024 Total Total Incom• Note8 Donation8 Investment income 21a} 21bl 7.625 177 77.307 4.447 84.932 76.8C 3,054 Totsl Incom• 7.802 81,754 89,556 79,860 Exp•ndltur• Charitable activitie8 Govemance 318) 31bl 3,570 3.251 63,200 66,830 3,251 65,281 4,022 Tolal exp•ndllur• 6,821 63,260 70,081 69,303 N•t In¢om• l {•xp•ndlturnl 981 18,494 19,475 10,557 Tran•f•r• b•tw••n fund• {1,2291 1,229 N•t mov•m•nt In fund• 12481 19,723 19,475 10,557 Re¢on¢lllatlon of lund•'. Tolal lunds brought lorward 17,831 98,488 114319 103,762 Total lund$ ¢•ffl•d I041d 17,583 116,211 133,794 114.319 The notes on pages 5 to 7 form a part of the financial statements Page 3
THE ANNUNCIATION TRUST BALANCE SHEET AS AT 29 FEBRUARY 2024 harity Nufflr 1017702 As at 28 February 2025 As at 29 February 2024 Notes Current è$s•t•: Cish al bank and in hand 133,794 114,319 Total n•t ••••ts 133,794 114.319 The funds of th• charlty: Reslricled income funds Unrestricted income fiJnd8 4&6 5&6 116.211 17,583 96,488 17.831 Total charlty funds 133,7 114.319 Approved by the Trustees and signed ors their behalf by Slgnatory: l R Walter• Posltlon: Honorary Troasur•r Dats: 17th May 2025 The notes on pages 5 to 7 fomi 8 part of th8 fi'nanc1 stalem6int$ Page 4
THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 1. Accountlng Pollclo$ Basls of pr•paratlon and a$Mssm•nt of golng conurn The financial slatemenl$ have been prepaied under the historical cost convention with items recognised al cosl or Iransath'on value unless olherwse slated in the levant note lo these accounts. The financial slalemenls l)ave been prepared in accordance wth the Slolemenl ol Recommended Pfaclice,. Accountin9 and Reporting by Charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 1021 and the Charities Act 2011. The Irust constitutes a public benefit entity as ¢Jefined by FRS 102. Iruslees consider that there are no malerlal uncertainties about the Irusl'$ ability lo continue ès a going concem. Fund• structur• Reslricled funds are Iho$e which are lo be used for Speciffied purposes as laid down by the donor. or according lo the regulations of the grant supplied. Expenditure which meets these criteria 18 identified by the lund. together th 8 f8lr Ilocation ol support costs where applicable. Unreslricled fund¥ are donations and other income received or generale(I for the objects of the charlty wihoul further specif¢ed purpose and are available a$ gener81 funds. Incom• r•¢ognltlon All incomè is r8cognised once the charity h¥$ entillement tts th• in¢oma. 11 is probable thal the income will bts recelved and the amoLtnl of income e81Vable can be measured reliably. Gran18 and donations are recognised when the charity has uncoNlillonal entstlemenl lo the re$ourtAs. Where income has related expenditure las wilh lundraisingl the income and related expendrtUTe are fecognised gross. Gifts in kind and donated service8 and facilities are onty included in income Iwlh an equivalent amount in resources expendedl where the benefil lo Ihe charity 1$ reo$tsnabty quantifiable, measurable and material. Thè valuè placed on Ih•8e resources is Ihe eslimaled value lo Ihe charity of the servicE or f4cility received. Where the income is not considered malefial, no value is included in Ihe accounlg. Inleresl on fijnds held on deposit is included when feceivable and the amount can be measure(I reliably by the charlty,. this18 nomially on notifiealion of the inleresl paid or payable by the bank. Exp•ndltur• r•cognltSon Llabilities are recognised as soon a8 there 18 a legal Of conslruGlive obligatson ¢ommilling the chartty lo that eXPendrtU. il 18 probable Ihal Settlement will be required and the amount of Ihe obligation can be measured reliabty. l expenditure 18 accounted for on an accruals basis. All expenses including support costs and governancé eosls are allocaled or apportioned lo Ihe applicable expenditure headings. Irrecovefable VAT 18 charged lo the SOFA as incurred. Grants payable are payment$ made lo third parties in the furtherance of the charitablg objects of the Irusl. Grant offers are accrued once the recipient h85 been nolified of grant award. Taxatlo The Irusl 1$ a registered charity and accordingty is exempl from laxalion on its income and gains where they Irè applied for chanlable purposes. Page 5
THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 Incom• Unr•strlct•d Funds R¢strl¢t•d Funds TOTAL FUNDS 2025 2024 21a) LnatIOnS Planned giving Income lax recovered Other donations 40,S66 9,652 34,714 84,932 38,065 9,017 29,724 76.806 9,652 27.089 77,307 7,625 7,625 21bl Inve$tm•nt Incorne Interest on cash deposils 177 177 4,447 4,447 4,624 4,624 3.054 3,054 Total Exp•ndllu UnrnJtrlct•d Fund¥ R•strlct•d Fund• TOTAL FUNDS TOTAL FUNDS 2025 2024 3191 Ch•rlt•bl• •ctl¥ltl Spiritual Directors J Maddock- Donation R Overton - Donation A Woolley - Donalion S M Allatt- Donation Other- Meetings and retreats 63,200 63.260 552 63,080 552 3.018 3.570 3,018 66,830 2,201 63,280 31bl G0MIn¢8 Indepen¢Jenl examine¢s fee Bookkeeping Website costs AGM costs includlng food and accommodation Sundry expenses Trustee expenses for me•ling8 996 613 954 410 613 1.642 2,204 454 3.2S1 4,022 Totsl Page 6
THE ANNUNCIATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025 RESTRICTED FUNDS The $tricted lunds shown on the balance sheet relate lo:. At 1 March Incomlng Outgolng 2024 Resourc RgsouT¢e* Transfors At 28 February 2025 J Maddock P Booth H Morgan S Morgan R Overlon N Helm A Woolley 1624) 7.950 13.919 2.505 31,098 14,392 27.248 96,488 29,381 901 9,436 115,5001 1672) {11,978) 11711 13.086 8,179 11,377 3,189 30,488 3,636 46,258 116,211 11.190 3.744 26.418 81.7S4 {13,2001 114,5001 7,410 63,260 1.400 1,229 UNRESTRICTED FUNDS The uNeslricled funds 8hown on the balance 8heel relate lo:_ At 1 Mah Incomlng Outgolng 2024 R••our¢e• R••ourc•• Tranif•r• At 28 F•bruary 2025 General Fund 17.831 17,831 7,802 7,802 6.821 6,821 17.583 17,583 1,229 ANALYSIS OF FUND ASSETS AND LIABILITIES UweBtrlct•d R••trl¢t•d TOTAL Fund¥ Fund• 2025 TOTAL 2024 Current assets 17,583 116.211 133.794 102,402 The unreslrfcted fund8 of the charity may be applied for any charitable purpos8 al the dlscrelion of Ihe Irusleos. Tru•t•g•' Exp•nws During the year Ihree {2024- three) of Ihe Iruslees havè been reimbursed by Ihe Trusl lor travel expen¥es lolalling É32112024 - £7961. Page 7
INDEPENDENT EXAMINERS REPORT ON THE ACCOUNTS OF THE ANNUNCIATION TRUST FOR THE YEAR ENDED 28 FEBRUARY 2025 Charfty Numb•r 1017702 I port on accounts of ihe Annunciolion Tnjst for the year ended 28 February 2025, which are set out on pages 3 107. Rtrjpectlw rnspon$lbllltl•s of tru8t••• and •xamlnor The charity's Iru8lees are responsible for the preparation of the accounts. The ChaTiVs trustees consider that 8n audit is not required fof this year under section 144 01 the Charities Act 2011 {he Charities Act") and that èn ind8pendenl examination is needed. 11 is my responsibilty to examine the accoun15 under section 145 of the Charities Act., lo follow the procedure8 laid down in the General Directions given by Ihe Charity Commission (under section 145{Sllbl of the Charities Act,. and lo 5ts1e ether particular matters have corne lo my attention. BaslB ol Ind•p•nd•nt •x•mln•rf• stst•m•nt examination wa$ ¢anied out in accordance with the General Directions glven by the Charity Commission. An examinatson includes a review ol the accounting records kept by the charity and a comparison ol the accounts presented wth those records. 11 also includes consideration ol any unusual items or disclosure8 in the accounts. and seeking eKplanalions from the Irusleey concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in 8n audit, and consequenlty no opinion is given as lo whether the accounts oresenl a 'true and fai¢ view and Ihe reDort is limited lo those malt8rs set out in the statement bèlow. Ind•p•nd•nl •x•rnln•rf• •tat•m•nl In connecllon with my examlnalion, no matter has ¢om• lo my attention 1. which give$ me reasonablè cause lo believe that in, any material respect, the requSremenl8'. la} lo kaep accounting records in accordance with section 130 of the Charllies Act., and Ib) lo prepafe accounts which accord wilh accounting records and comply with the aecounllng rnqulrement8 of the Charitie8 Acl have not been mel., or 2. to which. In my oplnion, allenlion should be drown in order lo enable a proper understanding of the accoun18 to be rea¢hed. P•ter Wrlght FCCA TC Group 1 - 4 London Road Spalding Lincolnshire PE112TA Dat•d.' 25th Jun• 2025 Page 8