Registered Company No.. 3203917 The Christian Conference Trust Consolidated Annual Report and Financial Statements for the year ended 31 sl October 2022 Registered Charity No: 1056604 seNing the Christian family, with beautiful venues and great hospitality, to see ministry flourish
The Christian Conference Trust Trustees, Annual Report Forthe year ended 31st October 2022 Contents Page Referen¢e and Administrative details of the Charity, ils trustees and advisers Trustees, Annual Report lincluding Strategic Report) Statement of Trustees. Responsibilrties Independent Auditorfs Report Consolidated Statement of Financial Activities lincorporaling a consolidated income and expenditure account) Balance Sheets 14 Consolidated Cash Flow Statement 15 Notes lo the Financial Slalemenls 16 Pag1 1 Tchil¥ban ConfeierteTrusl Annu FgPQrtJnd Fin¢1 Sl¥temgrt$ 2021122
The Christian Conference Trust Trustees, Annual Report For the year ended 313t October 2022 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS Legal Status The Christian Conference Trust 1.the Trusy'l is a registered charity Iregistralion number 10566041 and is conslituled as a company registered in England and Wales and limited by guarantee (Tegislralion number 32039171. Trustees Elected by member5'. Michael Page (Chair) Hayley Beckett Peter 8rierley David Evans Dionne Gravesande Michael Kinton Andrew Lucas Nicholas Myers (from 7 April 2022} Michael Quanlick Bankers Barclays Bank plc Third Floor Office 2 High Slfeel Nottingham NG12EN Auditor Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP Registered Offlce The Christian Conference Trust The Hayes Conference Centre Hayes Lane Swanwick Alfrelon Derbyshire DE55 1AU Senior Management John Heasrnan Chf Executive Lorna Page Finanee Director Mark Rowe Sales & Marketing Director Heather Thomas Operations Director TChIlon Confen¢tTrul$AnTrUI RÈpMand FinrIal &*•Thents20?112Z
The Chfislian Conference Trust Trustees, Annual Report For the year ended 31 St October 2022 STATEMENT OF FAITH The Trust's Statement of Faf(h is "Ime confess the Lord Jesus Christ as God and Savtour and seek lo fuffil mylour calling to the glory of one God.. Father, Son and Holy Spirit. OBJECTIVES The principal objective of the Trust, as slated in its Memorandum and Articles of Association, is that of promoting the Christian faf(h by providing facilities to Christian groups al $$ than the commercial rate for conferences, retreats and meetings. This is achieved by reinvesting the annual net surplus of the organisalion so as lo continue to improve and develop the facilities available to guests. The Trust runs cenlres for residential and day conferences. There are currently two centres." The Hayes in Derbyshire and High Leigh in Hertfordshire Each of our centres has 8 rich Christian legacy wrth which many of our groups are connected. As the charty is non-denominational in outlook we aim lo provide inclusive, safe, comfortable and welcoming places of conference and prayerwhere. in the words of one ofour founders."all Christians might meet and take counsel together about the affair5 of the kingdom of Gtsj. We pul this into effect by". seeking God's leading for the Trust in all that we do.. organising ourselve5 to meet our guests. requirements, rather than expecting them to meet ours,. striving lo treat our guests as we would wish lo be treated.. valuing each member ofstsff, providing them with support and Ifaining as necessary, Offering employment on the basis of a mutually beneficial relationship, and recruiting in the expectation that the Trust's Christian ethos will be honoured and promoted.. empowering and encouraging each member of staff to tske decisions th81 improve or enhance each guest's experience of our cenlres., playing our part as an interested and concerned corporate ei(vzen in each community where we operate. The Trust additional provides hospi(ality and conference fa¢ilrties al each of the cenlres lo charrties that are not primarity Christian, lo health organisalions, schools and educational trusts, and local businesses through awholly owned subsidiary company, First Conference Eslale Ltd. All taxable profits ofthe subsidiary are gifted over to the Trust. PERFORMANCE AND ACHIEVEMENTS We thank G¢xl that our cenlres were open for the whole trading year for the first time since 2019, and our performance for 2021122 was materially improved following the pandemic, wrth guest numbers and income back lo pre-pandernic levels and demand for Christian conferencing at unprecedented levels. During the period we celebrated the Centenary of our High Leigh centre with a number of events through the course of 2022. We thanked God for his blessing on the Centre Sin 1922 and recommrtted our ministry lo him for the next one hundred years. We completed a million-pound lower project al High Leigh during the period. which was officially opened by the Bishop of St Albans in April 2022. The new tower houses a large passenger lift which enables all our guests to access our firsl-floor meeting r¢Joms. Within this project we also undertook the major refurbishment of these firsl-floor rooms which afftird stunning views over our fomal gardens. In May 2022 we launched The Hayes as an official 'Partner-in-AcliDn" wf(h A Rocha UK, the Christian environmental and conservation charty, with the event officiated by the Bishop of Replon. We have made good progress in 'creation care. during the year with investments in our environment and biodNersily, not least through the Introduction of colonies of bees at The Hayes. Paye 3 Thechfftati c0nfererteTIu Annl Rewn and FlnanoalsiaiThn2D2l122
The Christian Conference Trust Trustees, Annual Report For the year ended 31st October 2022 After a Ihree-year strategic review into the future direction of the charity, we closed our smaller residential cenlre, Belsey Bridge in Norfolk, at the end of October 2022. We need lo ensure that our venues are of the right size. quality and location lo benefit as many Christians a5 possible. Our two larger conference centre5, High Leigh and The Hayes are very well located bul we iecognised that the church landscape is changing in the UK and it was not viable lo continue lo support Belsey Bridge in a post-pandemic environment. We are blessed with a committed and servanl-hearted stsff team. many of whom live in the Iwal ¢(xnmunty in which each of our cenlres are located. During the year we launched our Pathways programme which will enable staff lo shape their own career path in hospitality, whether with the Trust or elsewhere. We achieved 98,000 visitor nights for the year12020121".31,OOQI the vast majority of which were attributable lo churches and Christian groups as we continue to deliver the principal objective of the charty by being able to provide these groups with the benefit of charges al less than the Commercial rate. During the period, 5712020121'.91 Christian conferences were able lo benefrt from bursary funding, with £38k 12020121'£6kl being awarded to those in particular need of addilw)n81 financial support. STRUCTURE, GOVERNANCE AND MANAGEMENT Corporate governan is as relevant in the charitable sector as rt is in the commercial world. The twstees of the Christian Conference Trust aim lo have high standards of accountability as well as a proper and ethical Performan of Iheii duties. During the year the Board and ils three commrttee5 met regularly, both face-to-fa¢e and by vide(Trconference. CCT govefnance arrangements CCT is a registered charity Iregistratn ntsmber 10566041 and is constituted as a ¢ompany registered in England and Wales and limrted by guaranlae Iregislration number 32039171. Its objects and powers are set out in ils Memorandum and Articles of Association, most recently revised In 2021. The trustees of the charity are the directors of the company and known as the Board. The Board meets quarterly and is responsible for the strategic decisions of the company. having regard lo advice from senior management. Day lo day operational decisions are made by senior management. The Chair and Chief Executive are in regular contact between Board meetings. The composition of the Board is as follows.. The Board Comprises a minimum of four and a maximum offifteen trustee$. Trustees serve for four-year terms and no trustee can serve for more than three ¢onwulwe full terms without a break of al least twelve months. hile five Christian charities each have a right to nominate a Iruslee, none have done so in recent years and three have indicated that they will not do so in the future. Other Iruslees may be nominated for election by any member of the Trust. Trustees may also recommend individuals for election. Eligibility for election requires subscription lo Ihe Trust's Statement of Faith and musl be either a member of an organi5alion which is a member of the Trust, or an individual who is a member of the Trust. AppTopriale training is provided for new and existing trustees as required. The narnes of the trustees who have served on the Board during the year and up lo the dale of signing are shown on page 2. Nicholas Myers was elected by the members for a first tem) of four years in April 2022. Following a review of the organisalion's governance and the provisions of the Charty Governance Code. the trustees appointed three independent non-execulwe directors to rts trading subsidiary in 2020. Pag•4 Th•Ckn¥ti cont8r•nC8TrustAnnu Report and steThr9202l122
The Christian Conference Trust Trustees, Annual Report For the year ended 31 St October 2022 There are three Board commrttees." Audit & Compliance. Estates and Health & Safety, Sales & Marketing, each having specific terms of reference and functions delegated by the Board. Management Structure The Chief Executive is responsible to the 8oard for the overall management of the Tru51'5 affairs, leading the Senior Leadership Team which comprises the Operations Director, Finance Oirector and Sale5 & Marketing Director. The current Senior Leadership Team brings a breadth of experience lo the Trust from prevBJus roles in the commercial, public and charitable sectors. including the hospitality and conferencing industries. The Chief ExecutNe is a non-execulive trustee of three other unconnected Christian chartties. This involvement with other Christian organisalions enables the sharing of best practice in leadership and governance for the benefrt of the Trust. Senior Management Remuneration Pollcy The Trust is committed to ensuring we pay our staff fairly and in a way which ensures we attract and relain the right skills to have the greatest impact indelivering our charitable objectives. The Audit & Compliance Committee also acts as a Remuneration Committee which meets al least annually. The Committee reviews senior management pay against an established independent salary survey and ensures salaries remain competitive wrthin the sector in which the Trust operates. Staff The work of the Trust relie5 on the commitment and hard work of valued staff. Whilst the decision-making processes within the organisation incorporate consuf(alions between the lines of management, communication links with staff are maintained by the Senior Leadership Team, through general staff meetings, departmentsl briefings or discussDns with individuals. The Board recognises that, under God's leading, the success of the Trust Is due in no small part lo the continuing efforts of the highest order by everybody who works for the Trust, whether they have front line contact with our guests or are lucked away in a behind the scenes role. The Board wants lo publiclyacknowledge the great job that has been done by the whole Trust family over the past year". thank you for all you do. Directors, indemnities The Company has made qualifying indemnity provisions forthe benefit of ils directors which wefe made during the year and remain In force at the dale of this report. Relatad Parties The Christian Conference Trust has a wholly owned subsidiary, First conferen Eslale Ltd. During the year a management charge of £1.3m12020121 £0.9ml was made from the Trust to the subsidiary company. Public Beneflt The Trustees confirm they have referred lo the guidance contained in the Charity Commission's general guidance on public benefi't when reviewing the Trust's aims and objectives and in planning future aclivilies. The trustees ensijre that prices are kept as affordable as possible, whilst still ensuring there are sufficient funds for maintaining and improving the facilities offered. They also recognise that those on low or no income may find il difficult lo attend conferences. To assi51 such delegates, the trustees have established a bursary fund whh reiVeS five per cent of the Trust's surplus each year. Conferences may apply for bursaries lo supplement their own funding of a booked event. The actual amount granted Is al the discretion of the Chief Executive lo ensure as many conferences as possible can benefit from the fund. The scheme continues to be monitored to ensure it is achieving rts objectives. Page S Thechd$b Confèrence TNst Annua Repon and Financi* St4iemgnls2021122
The Christian Conference Trust Trustees, Annual Report For the year ended 3151 October 2022 Fundraising Regulations Statement Under provisions of section 13 of the Charrties Act, the disclosure of fundraising practices is required. Thi5 provision is not applicable for The Christian Conference Trust given the Charity does not a5 a rnatter of course partake in fundraising activities therefore no corresponding fundraising income is raised. Investment Policy The trustees have the authority conferred by the Articles of Association of the Charity to invest monies not immediately required in such investments as they think frt. PRINCIPAL RISKS AND UNCERTAINTIES The trustees have previously given consideration lo the major risks that the group is exposed to and prepared risk register. As part of this process, they have assessed the likely level of impact such risks pose on the organisalion. The principal risk the Iruslees believe the Ofganisation faces is that of damage lo its reputation which could substsnlially affect bookings. Mea5ure5 have been tsken to prevent this, including the appointment of a senior manager with Health and Safely responsibilities, thereby reducing the risk of repulalional damage occurring, as a result of a failure lo implement appropriate standards, presSeS, controls and prevenlalive measures around fcN)d safety, fire safety, legionella control and the general heah and safety of guests and staff. The Eslales and Health & Safety Committee considers the intemal controls already in place for all health and safety risks and risks lo buildin9s, Idenlify1ng key areas which require action lo be taken. In addition, the Aud11 & Compliance Committee is sponsible for reviewing financial internal controls and covering other risks by insurance. The trustees undertake this process on a regular basis to ensure the operations of the group are adequately protected against the risks il faces in achieving its main objeclwe5. The Iruslees monitor internal control through the regular review of the financial position and the control environrnenl. The Trust operates a comprehensive annual planning and budgeting system. Any sunificanl changes to those plans are subject lo specific approval. The financial repK)rting system compares su11$ wrth the plan on a monthly basis. Going Concern The financial slalemenls are prepared on a going concern basis which assumes the Trust will continue in operational existence for the foreseeable future. Forecasts have been prepared under various trading scenarios for the twelve months from the dale of approval of these financial slalements and based on these and the level of reserves available, the trustS have concluded there is no material uncertainty as to the Charity's ability lo meet ils liabilities as they fall due. Accordingly. the trustees continue to adopt the goin9 conrn basis in the preparation of the financial slalemenls. FINANCIAL REVIEW 2021122 Income Total income was £7.1 m12020121.. £3.3ml. Overall, the Trust incurred an annual deficit of £0.1m12020121'. £0.9ml after £0.3m eXPIlonal costs relating to the closure of Belsey Bridge. Before taking into account these exceptional closure costs the Trust generated a surplus of £0.2m12020121.. deficit £0.9ml. Expenditure Total expenditure for 2021122 amounted lo £7.2m12020Q1". £4.2ml. including £0.3m in relation to the closure of Belsey Bridge. Reserves Pollcy and Flnanclal Position As sh¢)wn in the group's balance sheet on page 14. the total funds at the end of the year amounted lo £10.5m 12020121.. £10.6ml representing unreslricled funds of £10.5m12021122." £9.7ml and restricted funds of £nil 12020121.. £0.9ml. Of these funds, £0.8m 15 freely available to spend12021120.' £0.6ml, representing available cash balances net of deposits for future conferences. The Trustees continue operations in such a way that there will be a buffer. currently of al least £0.5m, between uncommitted cash and agreed overdraft facilities lo cover unknown contingencies and events. TheChriiaD Conf•i•ncaTrust Annual ftePDrf and FinlCid &atemeM$ 2021122
The Christian Conference Trust Trustees. Annual Report For the year ended 31st October 2022 PLANS FOR THE FUTURE Demand for residential conferences at our centS is extremely strong and we are actively exploring how the Trust can extend ils presence in the Christian residential sector. We are grateful lo God that we have a sustsinable operating model which requires no support lor day to day operating expenses. We are prayerful approaching those who the Lord has blessed malefially who are able to support our vision for inorganic growth lo fund the acquisition of additional cenlres. We are specifically looking for new properties in the Soulh-Easl and Midlands where the church is growing. with good road and rail access fiom major urban areas. We recently published our first Impact Report which will be made available lo guests and supporters during 2023. Our charitable object is lo promote the Christian faith and we want to explain lo all those associated with our organisalion how we are doing that and our plans for the future. As we continue our journey of environmental slew8rdship we will be launching High Leigh as a Partner-in- Action with A Rocha UK in May 2023. During the year. we will complete a detailed carbon footprint assessment which will enable us lo sel Challenging bul realistic carbon reduction targets. including further investment in renewable lechnolDgies and sustainable sourcing including the elimination of single-use plastic. We have a number of refurbishment projects planned for 2022123 which are part of a commitment lo continuous improvement 8t our cenlres. We value each and every one of our guests and we want their experience of residential ministry lo be a real blessing as we invest in our facilities for their benefrt. A$ we invest in our buildings and facilities we remain committed lo investing in our people loo, recognising that a motivated and engaged staff team enables us to best serve our guests. TRUSTEES, STATEMENT OF RESPONSIBILITIES The Iruslee5 (who are also d1CtOrS of The Christian Conference Trust for the purposes of company lawl are responsible for preparing the Truslees'Annual Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi1, including FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland" Company law requi$ the trustees lo prepare financial statements for each financial year which gNe a true and fair view of the state of affairs of the charitable company and the group and of the incoming resource5 and applicalion of resources, including the income and expendrture. ol the charitable group for that period. In preparing these financial slalemenls, the Iruslees are required lo.. select sui(abb accounting policies and then apply them consistenlly',observe the methods and principles in the Ch8rf(ies SORP., make judgements and eslimales that are reasonable and prudent., stale whether applicable accounting standards have been followed., and prepare the financial statements on the going concern basis unless rt is inappropriate lo presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy, at any lime, the financial position of thecharitable company and enables them lo ensure the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence, for takin9 reasonable steps for the prevention and detection of fraud and other irregularrties. Ptyt7 TheChri9fft Cth)feren¢eTNstAnnual Rerthand Finanutj staem•rt¥2021122
The Christian Conference Trust Trustees, Annual Report Forthe year ended 31sI October 2022 In so far as the Iruslees are aware.. there is no relevant audit information of which the charitable company's auditor is unaware,. and thetruslees have taken all steps that they ought lo have taken to make themselves aware ofany relevant audit information and to establish that the auditor is aware of that information. The trustees are re5ponsib for the maintenance and inlegrrty of the charity and financial information included on the charity's websi(e. Legislation in the United Kingdom governing the preparation and dissemination of financial slalemenls may differ from legislation in olherjurisdictions. This report satisfies the requirement for a directors. report as required by company law. The Trustees. Report, including the Strategic Report, was approved by the Board and signed on f(s behaff by-. Michael Page Chair 13 April 2023 Pago 8 Thee$an Corferen¢•Try¥iAnn and StatemBnts 2021122
The Christian collferen Trust Independent Auditors, Report to the Members of The Christian Conference Trust For the year ended 31st October 2022 Opinlon We have audited the financial slalemenls ol The Christian COnfence Trust for the year ended 31 $1 October 2022 which comprise the Group Slalemerit of Financial Activities Incorporating an Ineome and Expenditure Account, the Group and Parent Charitable Company Balance Sheets, the Group Cash Flow Slalemenl and notes lo the financial stalemenls. including a summary of significant accounting policies. The financial reporting frarnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland Iunited Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial stslemenls.. g1ve a true and fair view of the stale of the group's and the parent charitable company's affairs as a13151 October 2022 and of the group's incoming resources and application of resources, including ils income and expenditure, for the year then ended., have been properly ppared in accordance wrth Uni(ed Kingdom Generally Accepted Accounting Practice,. and have been prepared in aOrdance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI (ISA$lUKII and applicable law. Our responsibilities under those standards are further described in the Audrtor's Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Stsndard. and we have fuFfilled our other ethical responsibilf(ies in accordance wiltt these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to golng concern In audrting the financial slalemenls, we have concluded that the Iruslees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not Identified any material uncertainties relating lo events or condrtions that, individually or collectivety, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilit$ of the Iruslees with respect lo going wn¢ern are described in the revant sections of this report. Other information The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The Iruslees are responsible for the other information. Our opinion on the financial statements does not cover the other Information and, except to the extent otherwise explicitly stated in our report. we do not express any fomi of assurance conclusion thereon. In eonnection wf(h our audit of the financial stalemenls, our responsibility is lo read the other information and, in doing 50, consider whether the other information is materially inconsislenl with the financial stslements or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslalement5, we are required lo delemine whether there is a material misstatement in the financial statements or a material misslatemenl of the other information. If, based on the work we have performed. we Conclude that there is a material misstatement of this other infomialion, we are required to report that fact. We have nothing to report in this regard. P498 9 T chrilE ConftierteTiust Annud Rtwrtand Finandal &thern•ni$ 2021122
The Christian Conference Trust Independent Auditors, Report to the Members of The Christian Conference Trust For the year ended 31st October 2022 Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees. annual report for the finaneial year for which the financial ststements are prepared is consistent with the financial slalemenls", and the trustees, annual report have been prepared in a¢cordan¢e with applicable legal requirements. Matters on which we are required to report by exceptlon In the light C>f the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the aijdil, we have not Identified material misstatements in the trustees, annual report. We have nothing to report in respect ofthe following matters where the Companies Act 2006 requires us lo report lo you if. in our opinion.. the parent charrtable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us., or Ihe parent charitable company's financial statements are not in agreement wf(h the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the infofmation and explanations we require for our audit. Responsibilities of trustees As explained more fulty in the trustees. responsibilities slalemenl sel out on page 7, the trustees (who are also the directors ol the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and lair view, and for such internal control as the trustees delemine is necessary to enable the preparation of financial slalemenls that are free from material mi5slalement, whether due to fraud or error. In preparing the financkgl slalemenls, the trustees are responsible for assessing the group and parent charitable company's ability lo continue as a going concern. disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the Iruslees erther intend lo liquidate the group or parent ¢haritable company or lo cease operations, or have no realistic aernative but lo do so. Audltorfs responsibilities for the audit of the financial ststements Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error, and lo Issue an auditor'5 report that includes our opinion. Reasonable assiJran¢e is a high Ve1 of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will aayS detect a material misslatemenl when rt exists. Misstatements can arise from fraud or error and are considered material rf, individually or in aggregate, they could reasonably be expected to influence the economr decisions of users taken on the basis of these financial slalemenls. As part of an audit in accordance with ISAS {UKI we exercise professional judgement and maintsin professional sceplicism throughout the audit. We also.. Identfy and assess the risks of material misstatement of the financial stalemenls, whether dtje to fraud or error. design and perform aLJdit procedures responsive lo those risks, and obtain audit eviden that is suffi¢ienl and appropriate lo provide a basis for our opinion. The risk of not detecting a rnaterial misstalemenl fesulling from fraud is higher than for one resulting from error. as fraud may involve Ilusion, forgery, intentional omissions. misrepresentalK)ns, or the override of inlemal control. Obtain an understsnding of internal control relevant to the audit in order lo design audi( procedures that are appropriate in the circUmstans, bul not for the purposes of expressing an opinion on the effediveness of the group and parent charitable company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disc105ures made by the Iruslees. Pw10 ChAstian ConfwenT1wtAnnQI Repts?nd &ements2Q21122
The Christian Conference Trust Independent Auditors, Report to the Members of The Christian Conference Trust Forthe year ended 31st October 2022 Conclude on the appropriateness of the Iruslees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo event5 or conditions that may cast 51gnificanl doubl on the group and parent Charitable company s ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are reqLJired to draw attention in our auditor's report to the related disclosures In the financial slalemenls or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of our auditor's report. However, future events or conditions may cause the group or parent charitable company lo cease to continue as a going concem. Evaluate the overall presentation, structure and conlenl of the financial slatemenls, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarding the financial informalL)n of the entities or business activities wrthin the group lo express an opinion on the consolidated financial ststements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit report. We communicate with those charged with governance regarding. among other matters, the planned scope and timing of the audit and signfficant audit findings, including any signrficant deficiencies in internal control that we identify during our audrt. Explanatlon as to what extent tho audit was consldered capablo of detgcting irregularities, including fraud Irregularrf(ies. including fraud. are instance5 of non-cornpliance with laws and regulations We design procedures in line with our responsibilrties, outlined above, lo delect material misstalemenls in respect of Irreglarit[eS. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below. The objectives of our audit in respect of fraud, are.. to identify and assess the risks of material mi55talement of the financial statements due lo fraud," to obtain sufficient appropriate audit evidence regarding the assessed risks of material rnisstatemenl due lo fraud, through designing and implementing appropriate responses to those assessed risks,. and to respond appropriely to instances of ffaud or suspected fraud Identified during the audit. However. the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governan of the charitable company. Our approach was as follows". we obtained an understanding of the gaI and regulatory requirements applicable to the charitable company through the use of permanent audit file information. updated this year for any changes that have been identified by management or by our own investigations and considered that the most Slgnificanl are the Companies Act 2Q06, the Charities Act 2011, the Charty SORP, and UK financial reporting standards as issued by the Financial Reporting Council., we obtained an undeislanding of how the charitable company complies wf(h these requirements by discussions with management and those charged with governance. we assessed the risk of material misslalemenl of the financial stslemenls, in¢5uding the risk of material misstatement due lo fraud and how il might occur, by holding discussions with management and those charged with governance. We inquired of management and those charged wrth governance as to any kn¢)wn instsnces of non- compliance or suspected non-compliance wf(h laws and regulations. Based on this understanding, we designed specffic appropriate audfc procedures to identify instances of non-complian with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative eviden as required. Pw11 Th8¢hristian CotrfereneeTN$tAnnU Repcrftand FIDancial si•monts 2021122
The Christian Conference Trusl Independent Auditors, Report to the Members of The Christian conferen Trust For the year ended 31st October 2022 There are inherent limitations in the audit prOdureS described above. We are less likely lo become aware of instances of non-compliance with laws and regulations that are not closety related lo events and transactions reflected in the financial slalemenls. Also, the risk of not delecling a material misslalement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve delibeIe concealment by. for example, forgery or intentional misrepresentations, or through collusion. Use of our report This report is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's members those matter5 which we are required to stale lo them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility lo any paty other than the charitable company and charitable company's members as a body, foi our audit work, for this report, or for the opinion5 we have formed. LLF Date 20 April 2023 Andrew Stickland Isenior Ststutory Audltorl for and on behalf of Moore Kingston Smith LLP, Slalutory Auditor 9 Appold stet London EC2A 2AP PtyB12 The Chriwiai Conl•renwTtust Annud FleWt5 Fin01 $IeOl2021122
The Chrlstlan Conference Trust Consolldated Statement of Flnanclal Actlvities (Incorporating an Income and Expenditure Accounti For the year ended 31st October 2022 Unroitrlctod Fund8 Rt¢t0 Fund$ Total 2022 Totsl 2021 Income from.. Don8lh)ns Charilabk actwrts Other trading xINi1S Govemmenior8nts 940.506 1.383.512 688.552 303.501 5,506,646 1,595,545 5,506,646 1.595,545 Totsl In¢on 7,102,191 7.102,191 3.316,073 Expndltur• oth Raisw fvnds 123,549 123.549 65,867 Chaiitabk actr¥"es'. Ongory charitab ae5 6,775,928 6.775.928 4.149.491 Net Income I IExwdthJfÈl befow exceplonal costs 202,714 202,714 1899.2851 E¥ceplion81 Costs.. Belsey Bridge closure 295,376 295,376 Total expfrndttu 7.19{853 7,1•4,853 4,21S,3S8 Net (Expendltuvel forthe yeav before trallsfèr8 192,662 192.6621 1699,2151 Tfansfers b8fv+eenfvnds 940.000 1940,0001 Net movement in fundi 847,338 1910.QQOI 1898.20SI Ra¢on¢lllaUon of fut)d• Funds broughtforward 18 9,695.862 940.000 10.635.862 11.53S,148 Tolal fundB cath•d forward 18 10.$43.200 10,543.2QQ 10,635.662 The 51aletnenl offinanual a¢livthes indudes all galns and lo$se5 recognised in the year. l irbcome alld expenditure derNes from continuing actiyflies. The attompanying Mtes lomi part of these financK41 staternents 2022 2021 Net Income I (Expenditure) the year before eXceptnl costs Excepffional Costs. Belsey 8rfdge d05ure 202,714 1295.3761 1899.2851 14•tlExwndltur•l lorth• yoar •ft¥r •xcoptlrJnal costs 1899,28SI Nel InTre.. The Twsl generated 3 surplus o1£0.2m12020121." deftt £0.9ml, before tsking into accoLntex¢epiion81 costs reL*bno to the of BeL%ey Brhyge, leadlng 10 an overall annual de1 of £0 Im12020r21.. É0.9rn1 forthe frusl. The Christian Confen Trust i Annual Reportand Financi81 Statements 2021r22 Page 13
The Christian Conference Trust Balance Sheets as at 31st October 2022 Group Char 2022 2021 2022 2021 Fixod assets Tangible assets Investment in subsidiary 12,161,374 12.045.463 12.161.374 110.358 12.045,463 110,358 13 12,161.374 12,045,463 12,271,732 12.155.821 Curront A880ts Slock Debiors Cash and Bank 36.249 592.270 2,490.448 10.463 539,239 2,513.397 14,084 1,521.935 734,978 7.926 944,377 1.668.622 14 3,118,967 3.063,099 2,270,996 2.620,925 Creditors.. amounts falling due vilhin one year 15 12,953,534) 12.41e.5831 12,350.4301 12.153.491) Nèt CurrèntAsstrtsl Illabllttle81 165,433 646.516 179.4341 467.435 Total A880ts1088 Curront Llabllltlo5 12.326,807 12,691.979 12.192,298 12.623,255 Creditors." atnounts falling due after on? year 16 11,783.6071 12,056.1171 11.699.319) 12.037,6051 Net A8sets 10,S43,200 10.635,862 10,492,979 10,585.650 Rapr8s&ntod by: Unreslricled fund5 Restricted funds 10.S43.200 9,695,862 940,000 10.492.979 9.645.650 940,0 Totsl fund8 10,543,200 10.635,882 10,492,979 10,585,650 The defirii for Ihe financial year deam ¥Mlh in the finanoal 5ts1emen15 of Ihe parent charitable company atnounled to £92.68212020121. £899,285). The 8tt0mp8nwrvJ notes fom part ofthese finanLyal 5tatemen15 The finanoal staierrnts of The Chnslian Conference TNst. lstered number 3203917 approved by the Board of Trustees and authoriseo for 155ue on 13th Apnl 2023 and sigrd on Ils behalf by.. Michael Page Chair of Truslees Company nurnr. 10S6604 The Christian Conference Trust i Annual Report and Financjal Stslemen15 2021Q2 Page 14
The Christian Conferen¢0 Tru$t Consolidatod Statgmant of Cash Flow For the year ended 31st October 2022 2022 2021 Not& N•tea$h flows provSdod by oporntSng •¢tlvrtlos 1.122.822 528.494 Cash Ilows from Invosting a¢ti¥ltie• Inveslrnenl Incorne Purchases of property, plant and 84uipffnl {663.6571 1510.0391 Net cash {used In} Invo8Uny a¢tlvrtl08 1683,6571 1510,0381 Cash flows Irom financing activ$.. Interest paid Cash Inlkms froTD bming Repayment of borrowings 160,4481 13,0001 500,000 130,0001 1401,6671 Net ca8h Iusod lThl I provlded by finaThclng acUvities 1462,1151 407,000 ehange in cft$h And ca¥h equivalents in the reporting ptrriod 122.9501 485.456 Cash and eash equivalonts at th8 1)oglnnlng of the reporting ppriod 2.513.397 2.027.941 h and ¢•gh equSv•Sents attho end of the pOrting period 2.490.447 2,S13.397 A.. Anal $18 of ¢a$h and ¢a8h • ulvalon 2022 2021 Cash in hand Cash at Bank Cash In notice deposits 400 2,486,098 3,950 2.47S 2,505,972 4.950 T¢t¥l cssh and cash equivalents 2,490.448 2.513.397 At boglnnlng of e4shflow Other movomonts At end of year Cash 2,513,397 122,9501 2,490,447 Loans falling dutwilhin one year L(r6 falling due after mwe than one year 1401,6671 11,868,333} 401.667 1460,0001 460,OCK) 1480,0001 11,408,333) Totsi 243,39T 378.717 622.114 The CttrEtran conferen TnJ511 Annual Rewtand Finanoial Slaletnenls 2021122 Page15
Thg Christian Conference Tiust Notes to the Financial Statements For the yoar endgd 31st Octobgr 2022 Accounting PoliciB coMnY and chabl $tstus The Christyan Conlerence Trusl, a publ benefit entity, is 8 registered tharify in EnoL8nd and Wales Inumber 105660418nd is Incorpor8ted In England and Wa$ as a company limited by guarantee not having a share captsl (company number 32039171. tt 15 goveTned ty ils Mefflorandum and ArtKles of A5soci8tion and at the year end there were 17 membefS12020f21 171 who were each lIab lo conlnbule £1 In the event of the company being wourKI up. The Chaity has adapted the CompanEs Acl fOts lo rellecl the charit5 SORP and the speckpl nature ofthe Charbty's act1?8. Basis ol accounting The financial siaiemeni$ have been prepared under the hL41orical cost convention and in accordance with the Compallie5 AGt 2006. the CharilEs kt 2011 and the Stslemenl of RecMended Practre appIats18 to ¢hadlS preparing thelr accounts In aw(tance with the Finanaal Reporting Standard in the UK and Republic of Irekqnd IFRS 1021. effectNe 1 January 2019 The group is a publi bentrfft entity as d8fined by FRS 102. The ststsment of Financ44 AclNities ISOFAI and 8alance Sheet cofisolidaie the finanoal statsmonts of the parent charrtable company and tts sUbsKIry undertaking The resuhs of th& subsidkqry are consolidated on a line by line basi% The financ1 51alements are prepared in slerlino. which is Ihe functionl currercy of the group and charity Monetary amounts in these fina1 stabments are rwnded to nearest PDund. Going concern The finanual slalements a prepared on a goiw concem basls whth assumes thai the Charity wlll continue In operalh?nal existence for the foresee8e future. FO¢85 have been prepared undervarK)U5 trading Scenarios fDr the l¥Yelve tnonlhs trom tha d8ts of approv81 of these financMI statements and basets on these and the level of reseNes 8vailab, the trustees have uncluded that there Is no material UnrtaInty a5 10 Ihe Charws abilty to meet its Ikqbililies as Iheyfall due. Accordingty Ihe Iruslees continue 10 adopithe 90ing ¢on¢em bas in the epara¥On of the finanoal siaiemenls. Baxls of ¢on601ha•Uon Group financ&?1 staternefjts have been prepared In respect of The Christian Conference Ttust arKJ Ils wholty owned sub51diary. First Conferertts Esiattr Ltd These finanual StatemetS have been consolidated oth a line by line basis and the resutts of the sub01¥ry undertaking are disclosed in Note 5 As by SectK)n 408 oflhe Companies Ad 20, no separats siaiemenl of flnanciql aCts¥rts or Income and ExFtndilure Accowt has been presented kn respeci of the parent charrtable company. The charitable company has taken advant8ga ol the 8¥empih)ns in FRS 102 from the requirernents to present a Charitable company only Cash Fhw sialeroent and certain disureS amul the Charitab cotnpanvs anCIal instsuments. Income and oxpondhuro Income and expenditurè are generalty accounted for on an acuuals basi5. Inc(xne trom confarence fees and otherswrces of Income is reCOgne when the charity and Sb%Id1ary have enlitlemtrni to the funds. it is probabl? Ihe Income will be received and the amount be measured wllh sufficient relkqbility Donated profe5SK)nal setvices and dated ts¢illleS are recconised as Income when the charty ha5 c01 over the ilern. any condilions asSocated wllh Ihe don81ed rfem have been 81. the [er1ptof economic benefit frcm the use by Iheeharity of the i18m 1$ Proba¢¥nO that economr benefit can be me8surÈd reliabty. Income from govemment and other gran15 are recognised ai fair value when Ihe ¢harty has eniiiiemenl afterany perforniance condilh)ns h8ve been mel, il is yobable thatlhe inwme will be reNed and the amountrall be tneasured reliably. If entiuement is not mel then these amounts are deferr8d. Capital grants are accDunled foras income 88 800n as they are recewabk. Expenditure Expenditure Is recognised as soon as Ire is a 081 N construclfve otyvJ8lh?n commiltyllg the charty lo the expenditure. Ml expenditure i% accounted fof on an aru81$ ba$LS and has been dassffied under headings that aggreoate all costs reL3tsd 10 ihe caiegory. Expenditure on raising funds indud& those wsis direct reiqied lo Ihe other trading activities (see note 51, These costs are regarded as necessary lo raise funds Ihatare needed lo financ* Charitab activthes. Support Gosts are those fiinctK)ns that assisith? work of the ch8rty bul do llol dire¢lUy undertake chantae activth5. They include £05ts such as oeneral Yranagemenl. finance. premises and dlItieS, tnarketing and govem8nce. Fund Accountiny The charitab cempany malntains three types offvnd. Unrestrfct4d funds are avalb for Use althè discreith of the boa of directors In futherance of the oener81 charitabk objectives of the organisaiion. Déilgthitod uthr•itrl¢tod lunds are TrKinles Sel 8yde by the board from unreslrictsl R•¥trkt•d funds hoks moThes whh have been reCeed for a specKL purw8e. The Chrlsuan Conference Trust S Annual Report and Finantial statements 2021rL2 Page 16
The Christian Conference Trust Notes to the Financial Ststements For the year ended 31st October 2022 Tangible fixed assets and deprt¢iaUon TarngIb fixed assets are 51aled al cost ac¢umu1ated depr¢aaln. Depre08t1 is is provided ¢MI all tsngibk fixed assels. other than freehold bnd. ai rates calculaled ¥vrile off Ihe rA)51 or valuation over their estimated useful economic life ai the following annual rates. FreefvO. k)ng seOj buibjiws Assets undereonsirn¢i)n Plant. fijrnilure and equipment- computers and other ethlronic equipment all other items nworvehic5 2% on cost fio deprerialvJ 33% on cost 20YD on wrrtien down value 25% on down value The inve5tsnenl in the subSKIry 15 incSuded in the CharitS financk81 statements al cost. 1.10 Sto¢s $Iks are staled at the kJwer of w$1 and nei realIsab Yalue. 1.11 Oporatlty Lea80¥ The $ts ofoperaling aSe5 are charged 10 the income and expenditure attounl as xcrue. 1.12 P8n$lon$ The chrts"an ctrifenCe Trustoperdle5 a defined centribulbn wrson81 pansknn scheme. ContdbulKin8 are charoed to the Ststemefilof Finanoal ActivilS as they become pay8b. 1.13 Fin•n¢lal Imitruments The company has finanaal assets and1iabililies ora kind thai quallfy as basr finanual Instrumen15 BasK finanual insln5ments are initialbi rewnised ai trans8thn ¥8lue and subsequenltry ffleasud al IheiisetKefflenl value. Trado and oth•r dobtor¥ 8r¥ reugni5gd atthe setuement amounldue afteranytrade discountoffer•S. Prepayments afe valued at the amouDI prepaid. nel of anytrade discounts due Cash at bank and cash In hand includes cash and short lerm highty investrnen15 with a short maturity olthree months or 55 from the dale ol acquisition or opening of the deposit or similar accnI Crodhorn provLglon$ a rec(onised where the company a presentoblvJ8tv)n resuitino from a past event Ihalwill probab result In the transfer of funds lo a third party and the amount due 10 sett the Obligati Can be measured ore51imaied rdiably Creditors 8nd proM$40ns are normalty re¢conised ai their sewement amount after alknwing for any trade discounts due. 1.14 T•x•l10 The Chnstian Conference Trusi Is potentlty ex8mpl trom laxalion on its 1ncome and gains under sections 466 10 493 of the cooratn Tax Act 2010 and SedDn 258 of Ihe laxalK)n of Capital Gains Act 1992, to the extent thatthey are applied forcharAable purpose5 No taxable profrt arise$ on First Conference Estab Limited du6 lothe lacl that 811 t8x8b proffts are gifted lo The Cri51ian Conferen(x Tst under Deed Df Cov&thanl. Crltlcal Ac¢ountlng ludgomehts nd sourt06 of •$tlmstlon In the apatn of the Group's accounting polityes, which are described in note 1, the tru$te8$ are ieouired 10 make ludoements. esb'mates ano as5umplions aL¥)ul the cartwng am1$ of assets and IkqbillES th81 are nol readity 8pparenl from othersources The estimates and aSratl assumpllons are based on hisloiical eXPenen and other tactDfs thai are ¢ondered lo t rekvani. Actual resulls may difter fr(Mn these eslimales The ests"mates and underfying assumptions are reviewed on an ongoing basis. Revions to attounthng 6Sbm8ies are recognised ID the period In which the Èstimait is tevised if the revislon af¢ts onty Ihat perh)d. or in the period of the rev15ion and lulure ppriods if the revision affect5 both cuTrenl and future perK)d5. The fiDanckg1 staiemenls include managemenvs eslwnale ofthe Ltsls relaled 10 the oftr* conference centre at Belsey Bre based on profèssional advk8 that has tÉon received The chriSan ConferenTrTrusl | Annual RepDrt and Financrdl statements 2021122 Page17
The Chylstlan Conference Trust Notes to the Financial Statements For the year ended 31st Oetober 2022 2022 2021 Incomè Irom Donatlofi¥ Indwvjual giving donatv)ns 940.508 940,508 Of total donalh)ns rep£ above £0 altribulaeto restticted funds12021.£940.CM)Dl and £0 Is attribu1ab lo unrestricted fvnds 12021-£5081. 2022 2021 Incomefrom Ch•ritable Activlttes Conference fees 5.506.646 1.383.512 S,$06,646 1,303.612 JI Ints)me frorn Charrtab activilies 1$ attributab to unrestrict funds. OtherTrading ACte 2022 2021 Trading Subsidiary ac1wit5. Conference fees Bar and shop saks Otheroperating income 1,367,430 203,532 18,583 1.S89,$45 607,917 52,980 21,655 682,552 Rentsl iicome 6,000 6,000 1,595,545 618,552 Tradlng SbE[dIary The Christn ConfererKe Trust owns Ihewhole ofthe issued OTdinary sharerapital of Fir61 Conference Estate Ltd.. a company regl$lered i England and Wa5 The share Gaprtal of the subsidiary consists of 110,358 shares of £1 each. The princip¥ athvityof Firsl conferen Estate Ltd 15 Ihal of prowdiw conference ts¢ilit5 lo secular thanlies and other organisalions. and ihe tyoyision of all bar and shop tsolffts fof confewces held atThe Hayes. Hwjh L&igh and Bdsey Bddge. The taxable profits ofthe subskliary are gn1& to The Christian Conferell Tfu51. 2022 2021 Tumover cost of sa5 and adfflinistralion expenses Planagemenl charge from parent company Other operating ints)m8 1,510,961 195.gS81 11,26fj,7361 18.583 660.897 164,2241 21.655 Net Prof 226,850 1295,486 Amount offted to the char 1226.8501 R•taln•d In th• ¥Ub$fjdry 129S,4861 The agwe9ale ol the assets. labili1*S and reserves of the sub&diary were.. Assels Liabilrt 1,842.083 917.659 {757.OB7 Aggregate share raprfal and reserves 160,672 160,572 Govemrnpnt Grant Incomè 2022 2021 CJRS Grdnl inctsme Govemmeni Grani Gift in Klnd- CBILS Loan Intest Other govemrntrnt & Local aulhontyorant income 202.694 60.808 40.000 303,502 The Christian Conference Trust | Annual Reportand Finanal Statements 2021122 Page 18
The Christlan Conference Trust Notes to the Financial Statements For the year ended 31st October 2022 2022 2021 Inve¥trrntlncome Bank Interest The gmup's invesimeni income arfses from an Snteresl tÉarlng deposft attount. Anaty¥ls of Expendltsj Direct Stalf costs Other Direct costs Support costs 1500 nots 91 Totsl 2022 Totsl 2021 Exptrnditure on.. Raising Funds (Tfading 5ubsKlYary actNthesl (See not? Bal 81.389 42,160 123.549 65,867 Totsl Exp¢ndlture on generating funds 81,389 42,1fjQ 123,549 65.867 Conferencing actsvities BeLsey Bridge dosure 2,529,091 34,054 1.833,809 261.323 2.413.028 6.775,928 295.376 4.149.491 Tot41 ExwTrdUre on chor•ble •¢tfvR$ 2.563.145 2,09$,131 2.41J,020 7.071.3r14 4,149.491 Total Exppnditure 2.563.14S 2.176.$20 2,4SS,188 7,19{8SJ 4,21S,358 Total ExdtUr1 2021 1,477,473 893.140 1.844,746 4,21S.368 All expenditure on activit5 was attfI)utab to Unrestr1 funds for both Cufrent and ptior year COMPARATIVE INFORMAnON-. ANALYSIS OF EXPENDITURE YEAR ENDED 31 QCTQBER 2021 Direct Staff Cts Other Difect colts Support Costs 154• noto 91 Total 2021 Expendltur• on.. Raisi Fund5 (Tiading subsKIK4ry activrtie51 Iseo no 8a) 1,147 35,895 28,825 65.867 Total EApendltsTr on gentratin9 funds 35.895 28125 65,867 Conferencing acliyitses 1,476,326 857.245 1.815,920 4,149.491 Totsl ExppndttLbwe on charitabk activit5 1A76,326 8S7,24S 1,81S.920 4.149.401 Totsi Exp•thdlturn 1,477,473 893,140 1,844,745 4.215,358 The Christian Conference Trust l knnual Report and FinanrAal Stslements 2021122 Page 19
The Christian Conference Trust Notes to the Flnancial Statements For the year ended 31st October 2022 2022 2021 Raising Fund¥ rrading subsidiarycosls Telate to." Bar and shop usts Other Dsrectcosts Supwrt costs 94,352 35.895 1$9 no¢• 91 42,180 28.825 136,613 6S,867 2022 2021 Support Co8t An•tyg1• Staff sUPrt Costs FinancHI admin & managÈment costs General Funning & adminsthxtlon Rates & utilth.es Tekphcfie, postage & wntsng General Professional fee5 Market0 DeprecialK>n Insurance Loan illleresl paid Bank charges Bursaries Govemance 11•9 nots #a 280.137 93.063 482.683 581.490 30.336 49.744 133.961 510.755 99.033 60,448 6.454 30.075 97,008 250.559 103,B07 376,478 292,(62 52,548 12,172 61.837 509,415 75,385 3.000 4,084 8.109 95.292 2,4S6,188 1,844,746 Support ¢OSts have been alh)catsd on a staff 51 basis lo tly.S 85 fomws.. Raising fvnds Charital>b athtE5 42.160 2.413,028 28.825 1,815.920 2,455,188 1,044,74$ 202Z 2021 GovernarLce £osts Slaff & managpmenl costs Truslee5' eKFenses Board member5. liabilty in5ur3nce Audilof5 Remun¢. l•ee note 101 61.249 6.142 4.296 25.321 68,039 2.313 23,427 97.900 95,292 10 Net1g¥pondrturel lorth• ye•r staled aftercharging.. 2022 2021 D2pre¢kition ofowned assets 510.776 509.415 Interest on bank knans and overdraft 60,448 60.808 Operaliro a5es 3,895 AlrtOrS remuneratTr". - CuFrenl year fees" External audit - Pmr yearfees Extetnal audit underl io¥erl acuual . Non audit serv. ArLounts preparalKTrn - Non audit seryw.. Tax compliance- wrrent year - Non audit 8eryte5.' Tax compliaKo prioryear ullderl loYer} ar£tual 18.000 4,516 3.610 15.550 1,472 3,275 1,000 2.130 Induded in audit(*s remuneratK)n £6.525 relaiino to the costof the audit of the subsidiary12020121'. £6,350) and £2.e60 rel910 to cost of audit servkes12020121.. £2.3501,' these amounts have been included in the Irading rA)$1s of the subsidiary. The Chrislian ¢fererttTruS1 l Annual RepDriand Faal Statements 2021122 Page 20
The Christlan Conference Trust Notes to the Financial Statements For the year ended 31st October 2022 11 staff t$ and •mploy•• b•nrftts- Group and Char 2022 2021 Wages 8nd $alane5 Soclal Srity 81$ PensK>n tosi$ 2,942,367 159.480 88.834 1,928.825 144.824 65.491 3.190.682 2.139,140 Redundancy and iermlnabon c0515 tot¥ling É34.054 are inCdj wrfhin staff costs ieported aVe(2D21. £298,754} Staff cos15 have been all(ld to activilies as below.. 2022 2021 Raising fund$ Charilable activitS Support ¢0515 1,147 1.476,326 6fj1.667 2.563.145 627,537 3.190.682 2,139.140 JI staff are employed by the parent ch9rrt0b cofflpany. The Chri51An Conferèrtè Trust. 2022 2021 Average number of $laft 51 The numbèr orem0Yefrs whose emoluments. exUd9 pensK)n contri1l¥JS and empkJyers' nalv)na4 insuRKe, but IndIng t8¥ab beneffls. were in excess of £60.000 in year was as lolh)ws.' 2022 No 2021 No £100,001- £110.0( £80,001 £90,000 £70,001 - £80.000 £60,001 - £70.000 Tre key man4emenl petsonnel ofthe Group are listed on page 2 and comprise those oflhe parent charit¥b wmpgny, The Chii$liqn Conthnce Twsl and its whollYne4 Iradlng subsldiary Firsl Conference Estate Ltd The total rernunerain lincbjding pension emknbubS and empbyers, nalbnal insurance) of the key management wr8onnel of the Chanty forlhe yearlolalkd £378.556 12D20121 É362.9951. 11a TruBtees' Remunerttion 2022 2021 PensK>n to mhael knnlon, a$ a fr)mi&rexecull¥e diroctor of the subshjry 2,017 2,016 Other than the abo¥e. th8 Iruslees receive ro remuneration fr)rtheirstrr¥ices butar& for their vavel expenses 10 Board meen9$ and sundry otherexpenses incutred. Ourino the period end•J 21 October 2022 travdling ¥n¢J olherexpellse5 were reimbursed tolalling £6,14212020r21". £2.313110 912020121. 91 Imst*s. n addilK)n. the group maintains an insurallc& poliGy for ils directors agalnst Ilabilit5 In re.1 to the group, ¢oslng £4.296120WI.' £1,5121. 11b Employee Tement benth The current pensK)n Scheme forstaff is principally 8 Group Per8on81 PerlOn plan with A¥a In a¢)ditn to thLS pensions are a150 madeto eligible directors of First conferen Estate Ltd and theIrSuWing 5PDUSes. Group and Charfty 2022 2021 Slaff pension cosls Pensh)ns lo fornierdireclrys of the Subsidiary 82,965 5,869 58.397 7.094 8B,834 65,491 As at 31 October2D22, lotsl pens 1x)ntribut6 outstandino totalkd £11,96512021.' £13.1701 and incjuded With year-eThJ Crthr5 85 per note 15. The Chnslk4n ConfereTrUSI l Annu81 Rew)rt and FinarKaal Staiements 2021t22 Page21
The Christian Conference Trust Notes to the Financial Statements For the ygar ended 31st October 2022 12 Tan4lbl• fL¥•d JI of the a¢b¥thes Undertak by Ihe chanty fall wrthin Ihe eXempb"S oranted to tharibes by legishtion Plant. Equlpmont and VehKcles Gwup & ¢haflty Land •nd Buildings Assèts uhdor ¢onstru¢¢lon Tolal Cost 1st November2021 Additi5 Transfer of a$sels dunw the yearldisposgl sposaL% Ilmpairment of asssl 15.031.393 8,380.687 62.449 loo.1 485.030 621.208 11,106.2381 21.897.110 683.857 1.005.3S7 146,2661 1194.0761 At 31 October 2022 16.990,614 6,396,177 22,386,691 D•prt¢iatlo 151 November 2021 Charge for year Depwwlun on EliminalK)n of impaired assets 4.355,203 309.770 19.5501 5.496,444 201,006 1127.5551 9,851,647 510.776 At 31 O¢tob•r 2022 4,655,423 5,569,895 1Q,225,318 Not book val At 31 OctobTrr 2022 11,335,091 826,282 12.161.374 At 31 Ortobsr2D21 10,676,190 814,243 485,030 12,04S,463 The kgal lrtle5 of the properties rests %vrfh First Conf8ten( Estate Ltd with b8n8fidal Ownersh beknnging The Chrislkqn C(Miference Trust. The prOpertS vre revalwd 1996 before being assigned over 10 Th• ChnslkiD Cwference Twsl on a 280 year 35& al an annual rentof £1, effeclNety a h)ng a$ehd propertyWhh w85 prior to the Thplementation of Fnancol R8PCrtino standard 15 Itanglbb fL¥ed assets). The charty does not revalue rt$ fixed a55ets and retain5 the tX)Dk amDunts ontywrfhin the Fin8n¢ial siaieff*nls. Land and Buildg& 2022 2021 Al valuaih)n- 1996 Adijitions al cosi 2,719,999 13,270.515 2.719.999 12.796.424 15.910,514 15,516,42J If stsled under h10¢91 cost pnCApS. the 1x)mpara? amounts fr)rlhe iotal fr0eho prcyarty WOU be.. Costto The Chri$lkqn Conference Trust Attumulai•J depiecbl 15.905.814 14.554,4431 15.284.606 14.239,7591 H10[1 (x>st net Lk valu& 11,361,371 11,044.847 12a L4nd •nd tyulldlng$ ¢ompvl¥¢ the following.. Group Charfty 2022 2021 2022 2021 Freehokl Pmpe 15.990,514 14,9.127 Freehold Propety- Asset under conslwcbon 485.030 Long sehold prop2ty 46.266 15.990.514 1S.516,423 15,990,514 15.$16.423 15.990,514 1S.516,423 The Christian Confen Trust l A#Trnual Report and Finjroal Statements 2021r22 Page 22
The Christian Conference Trust Notes to the Financial Statements For the year ended 31st October 2022 13 In¥e$lm•ni In subsldfiary Char 2022 2021 The Christian Conference Tmst has a whol0VMy subskfjlary Flrsl Conference Estsie Ltd as detaId Sn Note Sa. Th& amount disck)sed Is al cosl Inveslmentin sUbdiary Iwisiration number 001095881- Note Sa 110.3$8 110,356 14 D•btorg du• wlthln on? y•ar Group Chavtty 2022 2022 2021 2021 Trade debtors Amounts du& from subsN1kgry undertaking VAT recoverab Prepayrnents. sales dewsils and ac(xti8d Pr8 427.092 373,581 362.644 977.524 16.588 165.178 262.430 480,046 115,073 86.829 78.830 86.829 165.178 S92,270 5J9,2J9 1,$21,93S 944,377 1$ Crodhors.. amounts fallln9 duo wlthln ot)• ywr Group Charhy 2022 2022 2021 21 Trade Greditor5 Loans payable lsee note 171 Other tsxalK)n and sorAal securpty VAT payable Othercredilor5 A¢cwals ano Deferred Inccrfne Deposits for[Ure conferences Isee nots 15al 530.340 460,000 5D.156 297,439 22.069 261,540 1.231,990 591.909 401.667 36.143 497,962 480,000 50,156 $64.326 401.867 36,143 18,212 255,775 22.078 344.250 975.986 255.953 695.401 2.963.634 2A16.58J 2.350,4JO 2,153,491 Deposits forfuture corrf2rem¢o8 Ch•rfty 2022 2022 2021 2021 8ruugM forward Oeferred in the year ReaSed In the year 1.302.660 402.919 198,3151 562.303 863.840 1123.4841 1.064,674 262.474 160.17fj1 470.445 712.777 1118,5481 1,607,264 1,302,66 1,266.971 1,064,674 Deposits forfvlure confenceS include £375,27412020121.. £187.7841 he bythe group in respect of (x)nthnGes 5thule to lake pl rnore than one yearfrom the b3knce sh*1 date. The Chrislian Conference Trust i Annual Rewrt and Flnanoal Statem8nls 2021Q2 Page 23
The Christian Conference Trust Notes to the Financial Statements For the year endod 31st October 2022 16 Cr•dltors= amounts lalllng duè aftér ono y•ar Group Char 2022 2022 2021 2021 Deposits forfuiure eonferences Loan5 payab (see nDte 171 375,274 1.408.333 187.784 1.868.323 290.98S 1.408.333 169.272 1,868.333 1.783.607 2.056,117 1,699,319 2,037,60S 17 Loans payablo Loans p8yatAe include5 £1.868.33312021". £2,270.0001 relaung to 2 tranches of UK Govwnmenl Coronavitus Business Inknplion Loan Schéme aYab 10 8ar¢*s Bank PLC. Intefesi on the 1st ban tranche is charged a12 99% over b35e raie and rnonthfy capital and interesi payments commenced Soptembei 2021. Interest on the 2rf loan tranche 15 charged ai 3.39. overbase rate. Capiial repayments are as follows.. 2022 2021 0-1 year 2-5ye8rs 5 ytrais + 460.000 1.408.333 401.667 1,610.000 58.333 1,868,333 2,270,000 The 15 secured by a sp8cthc 081 tharge on group proper¢4, The Hayes Conference Centre, Swanwick. DerbyshKe. The Chri51iin conferen Trust l Annual Reportand Financial Stslements 2021f12 Page 24
The Christian Confgrenco Trust Notes to the Financial Statements For the year ended 31st October 2022 IB Reconclllatlon of movemont In lund Year ended 31 October 2022 B•l•n¢¢ bll Income ExpEndur¢ Other gains & Transforn 8•l•n¢e cll Llnrestrfcted FundB General income fijnd 9.500.160 7,102,191 17,164,7781 944.636 111,382.20B Dtslgnatgd lund* Bursary tunds RalUatK)Th reserve 79.236 116,465 130,0751 49,163 111.829 14.6261 Total ilnr•strfj¢tsd Fund$ 9.695,862 7,102,1#1 17.154,8531 940.OOD 10.S43,200 Re8trlctsd luhds Tower preth Fund 940,000 1940,QOOI Total Re¥trl¢tsd Fund¥ 940,000 1940.0001 Total Fund8 10,636.862 7.102,191 17,194,853> 10.643,200 8•lan£o bll Incorne Expenditure other galths & Tranifo Bathe clf UThr•Jtrict Funds General incomtr fvnd 9.449.947 7.024,286 17.086.882) 944,836 10.331,987 Desnated fund¥ Burs8ry funds Revaluation resetve 79,238 116.465 13D.0751 49,163 111,829 14,6361 Totsl Unr•8triGtsd Fund• 9.646.650 7,024,286 17.116.9671 940.000 10,492,979 Ra¥trlctod fund6 TowÈrpFoiect Fund 940,000 1940.0001 Total R•itrlctsd 940,000 1940.0001 Total Funds 10,585.150 7,O24,2e6 17.116.¥571 10,492,979 Burury Fund8- Adeslgnaied unre51ricted bursary fund 15 maintained where 5Q/o of the general tsnd $urplus Is 81bcated 10 the fund each year. 8ursaries are avaiiqtye to woanisalDn5 lorlhe suprort of indivKluals attending confewres al any of Ihe cenlres The amount of bursary awarded lo en Qfganisalion is charged aga$1 Ihe lsary[und when Ihe Conference has taken place Re¥•lu•tlon ws•rv¢- Unrealised pal surpluses and deficits ari5llg on the reaatiOn of land and buildings awe taken to a a55el revaluaty'¢ resetve. kn annual amount, tou1vaThI 10 lh& additional depreckglbn on revalued assets, is transferred from the revaluation reserve furKI 10 the unrestrrted gener81 iTrcome fun Towèr P1•¢t Fufid-The fund reflects amount$ glfted for fjnanclng the rebulkling ofihe 50ulhern knver at H&h Leh. Th• lower rebuikl was Cnpted dunng yearlo 3181 October 2022 and thus the feslr4Cti(Mi of the init1 gin has been di%charged and released to unreslncted gener81 reserves. The Christian COfere Tw51 | Annual Reportand Flnana81 siatemenls 2021rk2 Page 25
The Christian Conference Trust Notes to the Financial Ststements For the year ended 31st Oclober 2022 18a COMPARATIVE INFORMATION= Rgconclllatlon of movement in fund foryoar endod 31 O¢tob•v 2021 Rastatsd Balan¢0 bll Income Other qalTh$ & Trnnslèrn Bnce cir Unreiirictod Fundi General income fund 11,326,700 2,376,073 14.207,2491 4.636 9,600.160 D•8lgnatsd lund$ Bursary fund$ Revaluation reSVe 87,347 16,1091 79,23B 116,465 14,6361 Total Unre5tr1cted Fumd8 11,535,14B 2,376,073 14,215,358> 9,695,862 Re¥trl¢ted fvnd5 Tower proleci Fund 940.000 940,00 Total R•8trtcted Fun¢• 940.000 yo,ooo Total Funds 11.635.148 3.316,073 14.215.36BI 10,63S,862 Fcdlowiw a ¥1 ot reserves dunry the year. funds 88 rdatiw io a'capital reserve, and 8're¥8lu8lK)n reserve. wgrefound to be erroneou5ty shown as resltthd ful8. No resiitth)n$ e8trth reoards lo these ftjnds and so they were r8classifiwJ as unreskn¢ted funds. B•lanu bm In¢ome ExpEndiiure Other galns & Tran8fors Bate cll Cha Unrnstrlcted Funds General Inrne fund 10.981,002 2.607.335 14,143,026) 4,636 9,449,947 Dèslgnated fund5 Bursary ftjnds Revaluolion reserve 67,347 18,1091 79,238 116,466 14.636) Totsl Vnre3tFlctsd Fund 11,189,450 2,607,335 4,151.1351 .64S,660 Rostrf¢t•d lund$ ToweT pioject Fund 940,000 940,LM)O Total Rg¥trl¢t•d Fund• 94Q.000 940,000 Totsl Funds 11,189,450 3,547,335 14,151,135) 10,585,BJO The Chrisli9D Conference Trust l Annual Rewjrtand Fin8ncL81 Statements 2021r22 Page 26
The Christian Conference Trust Notes to the Financial Statements For the year ended 31st October 2022 19 An41& of assèts and Ilabllltlei t•tween fund¥ Yèar trndod 31 Octobor 2022 Uniostrlcted Fund O•tlgn*téd Fund Re8tsl¢tsd Fund Total Tangib fixed assets Current assets Curreniligbilibes Creditors due after one year 12,049.545 3.069.8Q4 12,953.5341 11,783.6071 12.161,374 3,11B,967 12,953,534) 11,783,607) 49,163 At 31 OctOr 2022 10.382.209 160,992 10,543.200 Ta1b fixed assets In¥estrnenl In subsidiary Current 85sels Current Iiatsliis Creditors due after rme year 12.049,545 110,358 2.221,834 12.350,4301 111.829 12.161,374 110,358 2.270,996 12,350,430 11,699,319 49.163 At 31 Octobor 2022 10,331.908 160,992 111,492,979 Vnrwtrlctsd Fund D•s1gnatsd Fund Restrl¢ted Fund Total 21 Tary1b fixed assets Current assets Current li4knlil5 Cre¢itors due after oneyear 11.928,998 2.043,861 12.416,5831 12.056,1171 116.465 79.238 12.045,463 3,063.099 12,416.S831 12,056,117 940,000 At 31 Octo 2021 9,$00,1Sg 195,703 940.000 10,635.862 Ch 21 Tangible fKed assets Inweslmenl in subsKIK9ry Current assets Cutrenl IgbililEs Creditors due afterone year At 31 Octobpr 2021 11.928.998 110.358 1,801,687 116.465 12,04S,463 110,358 2,620,925 12,153,491) 2,037,606 10,S85,650 79.238 940.000 12.037.605) 9.449.947 195.703 940,WO The Christian cIerereTrUs1 l Annu81 Report and FinanrAal Ststemenis 2021122 Page 27
The Chrlstlan Conference Trust Notes to the Financial Statements For th¢ year ended 31st October 2022 20 Capftal ¢ommllrnefit Group •d Chawlty 2022 2021 Contracted for but not provKJed Aulhwsed not yd contrdcled 3,268 Commitments at preceding year end rdaled to the demdition and consiturAK>n of the southern lower at High Lelgh conference centre whch c(Nnmenced July 2021 and completed during the yearended 31 October 2022. 21 Opar•Ung te8#or¢otMi6trn•nts The group leases taim land and surplus buiklin9 area5 to third parties under operating arranoèments. The ioial mininum rental IrKome receivable nder nonnClaIe operatin9 leases frJr property are as fdlows.. Grou 8ullding 2022 Tothi 2021 thin a yeaF Two to flveyears More Ihan 5 yeais 2.500 3.000 2.500 3.iM)O Char Bulldlng 20Z2 Totsl 2021 Wthin a year Two lo five years More than 5 years 2,500 J,000 21a Op•thing I$• ¢ommltmnts Tfre are no fJiure minimum lease payments under nonal&b operating aSe& 22 Rolated prtytAnucdoni The Chnstian Confemr Trust has a Whol owned subshJl8ry. First Conference E51ale Ltd. The ITading adivthes of company are stri Out In Note 5. The amouTrts from 10 the sUbSl8ry aro disch)sed in Note 14 Dunng the year a management charge of £1,266,73612020rLI. £928,882) was madefrtN the Trust lo the SUbsry company. There were no other rekgied paty tr8Dsacih)ns durino Ihe ar {2020121' none}. R•coth¢llladot) of net to now ¢••h flovifroffl olatIng *ctlvlty 2022 2021 Oporatlng actlvltks Nel Expenditure for the year 192,662} 18992851 Adju8tm•nts ior. Interest payable on bank bans and debenture ban 5tsKk Interest receNabfe Depreciation and deficit Dn diswsal of tangbk assets Impairment of fixed a55ets Ilncr8asel l Decrease in slrKk Ilncreasel l Decre85e in debtors Increase I IreaSe) in creddors 60.448 3.(M)O $10,776 56.971 125.7881 509,415 18.8861 1342.3121 1,266,563 666,108 Net calh provld•d by a¢tfvMe$ 1,122,822 $28,494 The Chrisiian Confererte Trtssi i Annu ReFN)rt and Financial Slalements 2021r22 Page 28
Th¢ Christian Conferenee Trust Notes to the Financial Statements For the year ended 31st October 2022 24 COMPARATNE INFORMATION.. CONSOLIDATED STATEMENT OF FINAII¢IAL A¢TIVITIES FOR YEAR ENOED 31st OCTOBER 2021 Unrgstrl¢tod FuTrd¥ Aostrlctèd Fynd¥ Total 2021 Total 2020 Note Incorne from: Donaiions Charitsbb actltS Other trading activities Government grants Investment income 940.000 940.5Q8 1,544 1,906.843 474.093 848.047 1,383.511 688,552 303.501 688.552 303.501 Total In¢onv 2.376.073 940.000 3A16.073 3.233,717 Expendlture on Gen8ratlng funds charitab aCtlIES 65.867 4.149.491 65,867 4.149.491 54,904 5.185,940 Total exp•ntttturo 4.216,368 4.215,358 6.240.844 N8t1•xndNI&Tr I In¢om• for the ye•r before tranBlern 11,839,285 940.OOQ 1499,2B51 12.007,1271 Transfers beNYeen fuTrd5 Not mo¥em•nt In lund$ 11,839,28SI 94Q,QOQ 1899,2851 12,007,127) R*¢on¢llla¢lon gf lund Fund5 brought forward 18 11.S35,148 11.535,148 13.542,275 Total fundt tarr 10Thr 9.695.861 940,000 10,636,862 11,535,148 The statement of finanual 8ctNthes inGludes all gains alld losses recoonlsed ID the yeaF. JI income and expenditure derNes from continvino adNilEs The ChrislK4n cOnferenTrust l knnual Reportand Finandal stsIemts 2021tt2 Page 29