## **HEATHFIELD TRUST** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023** **CHARITY NUMBER: 1038331** ## **CONTENTS PAGE** |**Contents Page Number**| |---| |Trustees Annual Report 3 to 5| |Independent Examiner’s Report
6| |Receipts and Payments Account
7| |Statements of Assets and Liabilities
8| 2 **Heathfield Trust Trustees Report For the year ended 31[st] August 2023** Chair of Trustees Rev Dr. Martin Wellings Secretary Mr Ravi Rangreji Treasurer Mr Eric Asamoa-Frimpong Charity number 1038331 Registered Office 23 Kynance Gardens London, HA7 2QJ Independent Examiner Mrs Keisha Chidziva Bank Lloyds Bank Plc 105-109 Station Road Edgware HA8 7JL Investment Advisors MCA 1 Telford Terrace Albemarie Road York YO28 1DQ 3 **Heathfield Trust Trustees Report For the year ended 31[st] August 2023** ## **Objectives** The purpose of the Charity is to advance the Christian faith in the Area of Benefit in accordance with the principles and practices of the Participating Churches. In achieving its purpose, the Charity will engage in a range of activities, either on its own or with others, including but not restricted to a) The provision of facilities with a Christian ethos for the local community, including (but not restricted to) the elderly, the young and other groups with special needs; and b) The Area of Benefit is London, especially the London Boroughs of Barnet and Brent. ## **Grant Making Policy** Grant applications are submitted to the Trustees with supporting paperwork and budgets. There is no limit to the amount and number of times grant applications can be made by a Circuit Church or Circuit group within the financial year. The grants will always be subject to the availability of sufficient funds. ## **Financial Overview** The total incoming resources for the period amounted to £60,915 (2022: £60,079. Of this, £59,897 (2022: £59,618) was derived from rental income, and the remaining £1019 (2021: £461) represents bank interest received. Total expenditure in the year in furtherance of the trust objectives amount to £39,457 (2022: £43,144. Of this amount, £21,000 (2021: £21,500) was spent on charitable activities, £10,540 (2021 £10,564) was spent on agency fees, and the remainder represented operational costs. The net margin of the above amounted to an excess of income over expenditure in the year in the sum of £21,458 (2022: (£16,934). This resulted in a balance of funds carried forward of £142,368 (2021: £120,910) ## **Reserve Policy** Funds not required for immediate use are deposited with the Chapel Aid and Lloyds Bank. This produces a level of return while maintaining a minimal risk and a high level of liquidity. The funds are easily accessible for grants and expenditures. Trust has agreed on a reserve policy to keep at least six months of expenditure as reserves in light of unforeseen circumstances. As of 31 August 2023, the unrestricted fund amount to £142,368 more than a year’s expenditure. 4 **Heathfield Trust Trustees Report For the year ended 31[st] August 2023** ## **Reserves Policy continued** Loss of income from property lettings and unexpected property repairs resulting in a reduced ability to pay grants. The Heathfield trust leadership considers that the current level of reserves is sufficient to meet any unplanned expenditure in the event of the above and when planning for future years. ## **Risk management** The Trustees have examined the significant risks to which the trust is exposed and are satisfied that systems are in place or are being introduced to monitor and control these risks and to mitigate any impact they may have on the charity. The key risk to the organisation is advisory services to members covering operational procedures and guidelines. The procedure in place ensures the clarity of documentation and advice provided. ## **Trustees** Trustees are appointed from the churches within the circuit or recommended by the Circuit Council. To serve on the board, members should have pre-requisite skills and experience to help further the organisation's objectives. Trustees are the governing and decision-making body of the Trust. Trustees set out below have held office during the whole of the period from 1st September 2022 to 31 August 2023. ## **Trustees** Rev Dr Martin Welling Eric Asamoa-Frimpong Graham Simmons Adrian Grocott Mia Chia Catherine Waters Shirley-Anne Wheeler Anna Batchelor Ravi Rangreji Robert Alderman The Trustees declare that they have approved this report. ## **Signed on behalf of the Charity:** **Full Name: Eric Asamoa-Frimpong** **Position: Treasurer** **Date: 28 June 2024** 5 ## **Heathfield Trust Independent Examiner’s Report For the year ended 31[st] August 2023** I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31[st] August 2023, on pages 7 and 8. ## **Responsibilities and basis of the report** As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report regarding my examination of the Trust’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination, I have followed 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, which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn to enable a proper understanding of the accounts to be reached. Keisha Chidziva Independent Examiner KDP Accounting Services 27 Old Gloucester Street London WC1N 1AX Date: 27/06/24 6 ## **Heathfield Trust Receipts and Payments For the year ended 31st August 2023** ||**Unrestricted**
**funds**|**Total funds**|**Last year**| |---|---|---|---| ||**2023**|**2023**|
**2022**| ||**£**|**£**|**£**| |**Receipts**|||| |Rental Income|**59,897**|**59,897**|**59,618**| |MCA Interest|**1,019**|**1,019**|**461**| ||**-**|**-**|**-**| |**Sub total**|**60,915**|**60,915**|**60,079**| ||||| |**Total receipts**|**60,915**|**60,915**|**60,079**| ||||| |**Payments**|||| |Cleaning|**(592)**|**(592)**|**(185)**| |Insurance|**(2,000)**|**(2,000)**|**(1,661)**| |Repairs|**(2,167)**|**(2,167)**|**(7,780)**| |Estate Agents Fees|**(10,540)**|**(10,540)**|**(10,564)**| |Gardening|**(1,841)**|**(1,841)**|**(433)**| |Methodist Fund for the World Mission|**(13,000)**|**(13,000)**|**(7,000)**| |Electricity|**(417)**|**(417)**|**(196)**| |Grants|**(8,000)**|**(8,000)**|**(14,500)**| |Professional Fees|**0**|**0**|**0**| |Accountancy Fee|**(900)**|**(900)**|**(825)**| |Furniture|**0**|**0**|**0**| |Water Rates|**0**|**0**|**0**| |Youth Work Fund|**0**|**0**|**0**| |**Sub total**|**(39,457)**|**(39,457)**|**(43,144)**| ||||| |**Totalpayments**|**(39,457)**|**(39,457)**|**(43,144)**| ||||| |**Net of receipts/(payments)**|**21,458**|**21,458**|**16,934 **| |**Cash funds last year end**|**120,910**|**120,910**|**103,976**| |**Cash funds this year end**|**142,368**|**142,368**|**120,910**| 7 ## **Heathfield Trust Statement of Assets and Liabilities For the year ended 31[st] August 2023** |**Current Assets**
Cash at Bank
Debtors|**2023**|**2022**| |---|---|---| ||**£**|**£**| ||**162,356**|**141,572**| ||**-**|| ||**162,356**|**141,572**| |**Current Liabilities**
Creditors
**Total Funds of the Charity**
**Unrestricted Funds**||| ||**(19,987)**|**(20,662)**| ||**142,368**|**120,910**| |||| ||**142,368**|**120,910**| The Trustees declare that they have approved this report. **Signed on behalf of the Charity:** ## **Full Name: Eric Asamoa-Frimpong** ## **Position: Treasurer** ## **Date 28 Jun. 24** 8