REACH Trust (A Charitable ConipAny Limited by Guarantee) (Formally known As East Midlxnds ChristlAn Fellowships) Consolidated Financial Statements For the Year Ended J l Augyust 2024 Charity Number.. 1080638 Company Niimber.. 03971567
REACH Trust (A ChAritAble Company Livnited by Guarantee) Group Trustees, Report for the Year Ended 31 August 2024 Report of the Trustees for the Year Ended 31 August 2024 The Trustees are pleased to present their annual Directors. report together witli tlie consolidated financial statements of the Charity and its subsidiary foi. the year ended 31 August 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 201 I, the Companies Aet 2006, the Memorandum and Articles of Association and reporting by Ch&rities.' Statement of Recommended Practiee applicable to charities preparing their accounts in accordance with the Financial Reporting Standards for Smaller entities. Tl)e charitable company passed a special resolution on l May 2024 cliangiiig its naine from East Midlands Christian Fellowships to Reach Trust. Chair's Report It has been a mixed year financially. It has been encouraging lo see voluntary giving increase over the year, and in particular the generosity of so many in the church to support the cominunity grocer has enabled the proj¢cl to start and begJiii lo meet the practical needs of so many in our community. On a different note, the income from Reach Events has fallen significantly below what was expected. This is not because Ihcre is less activity, but a resuli of recognising that for several years we had taken more than was sensible out of the conferencing business. We therefore decided to change the accounting practices so that income for future events was not donated to the Church until the event had taken place and as a result les5 income was transferred to the Church. The reduction of this income and the planned inveslinent into the Mediterranean, which wa5 always intended to come out of reserves has reduced our reserves. The reserves do however remain healthy and within the limits set by both trustees and the covenant set by the bank. There has been a continuous drive to itnprove the governance of the Church and this year. R significant step was made with the introduction of a new body of overseers. These are a group of men and women with independence, wisdom and experience who can consider the spiritual health of the Church and suppoit the spiritual direction of the Church. It puts the governance of the Church on a much fimier footing with the Senior Leadership Team, the Trustees and Overseer5, ea¢h with their respective roles and responsibilities, all working together to provide accounlability and support for the leaders. The mission of the Church remains clear. To 'bi-ipiging heaven lo euj'ih, and to ' iP7vesl in Chi-isl-cenlei'LJd communilies Ihal li'an.ffoi'm oui. woi-ld It aims to deliver this through the promotion of the Christian faith, through practical support of our communities with a partiCLilar heart for the vulncrable and an increasing regard for our eiivironmenl. The largest gathering is in Derby where the buildings are used by the Church throughout the week but a150 serve the local business community through operating as a conference centre. Smaller gatherings in Nottingham. Leicesler, Eastwood and beyoiid provide a local expre55i0n of the Churcli and reacl) out to vulnerable coniniunities in those cities. T]ie multicultural nalure of the Church is both a challenge and a strength as we provide a home to Inany who have been displaced whilst we also benefit from their cultural richne55 and diversity. There is much to be ihankful for. l am grateful to all of ihe staff for their dedication and commitment and to those who volunteer faithfully week by week lo support the activities of the Church. Whether paid or voluntary these are the ones who make the difference, who give of their time and energy so generously and who really do carry the presence of God with them. Tliankyou I David Park Cliair of Directors
REACH Trust (A Charitable Company Limited by GuArantee) Group Trustees, Report for the Year Ended 31 August 2024- continued PURPOSES AIYD ACTIVITIES Chiritable Objectives 'I'lIL ObjeLts ol. the C'liaritv are, I'ui. Ihc publiL bLiicfil. tc)-. Ir? l £idiiaiicLA ihe Clii-i.%ti?( li faiili iii aLcoiil<lllCL' willi ihL StalL111ent of IILIiLfs appec21-iiigi in Il)e S¢hediJle: (b) reliLvL PL'fsons who are iii Ll)iiililioii.% ol. iiecil or l)ardship or who ai'L' aiJeil 01- sick aiid io reliLve ihL' distress callbeil Ilio'i'eL)y- {c) proinole s()Lial incliiqion by i)rciiciiting PL'OI)IL froin bLC()niiiTriF .s(JLiallv LXLILided, I'LljL'iiin(Y tliL' necds i)t th()5e PLI)pIL vlin arL so¢idlls.' Lx¢liidLLI diid as%i%tillU7 thL'llI to iiiEeiTrrdlc iilto %l)LILlv (1£ nd tor ihc. i)111-pc)sc' ot tl)i% LlclLISL 'fOLially cxcludcd" niLaii% bLiligl excliidLd troin 5()LiLly. 01 Part ot SOLILly, as I'L%iIIi i)s' heii1(, a nicnibei. of a 4ocially andl()r CLoiioinical1s depi'ived coinniuiiili.'I,' (d) aclvi11ice educali()n b). sull) Ineic ns thL 'fi'ustec% mi1y consider appropi'iale iiiclu(lii)4, Iviihout liniitalioii. thL priiwisioi) c)t" life 8kill% Ii-c'iining foi- retLlk?Les diid otliers, 1£ lid i?artnei'jiio iviili nilier eduLaEi()Iial pioiiidei's lo lio%1 theii. (-) proinote aiid fiiifil SULli othei. ch(Il'itable piii'p(i%es as the Ti'iistees Inay fiiini tinie to liine think fil. Prineip81 Activities The charitable company's principal a¢tivities continue to be the running of the churches known as Reach Derby, Reach Leicester, and Reach Nottingliain, as well as fledgling slmrt-ups in Malaga aiid Nortli Africa. Review of the Activity? Aehievements and Performance during the ptriod When planning the activities for the period the trustees have considered the Cl)arity Commission's guidan¢e on public bcnefit and the specific guidan¢¢ on charities for thc advancement of religion. In its inain activities of running chuiches the charity seeks to principally benefit Derby. Leicester. Nottingham and Eastwood with also a view lo seeii)g how we arc also able to impact further afield in tlic Unitcd Kingdom and abroad. Tliis is with a view to helping us grow our churches aiid Inake an even more significant and positive contributioii in and around the cities we are Clirrently placed, Re&ch lJeicester has become more secure and established. Weekly gatheriiig5 take place, either at Holy Aposiles or at lioines throughout the city- There is a particular emphasis on work with asyluin seekers and refugees and gatherings are intentionally accessible. multilingual and including the use of Persian worsliip song5. Reach Derby leadcrship team is led by Ben Rook. The Church has contiiiued lo grow numerically and celebration gatlierings have been inlroduced several tiines eacli year where people from across Reach gather together. Sundays also include active children's work and provision for the youth. Midweek events incliide 'powerhouse player, and 'Celebrate Recovery, There is an over 50.5 group and the Young Adults group. The Youih group meets weekly and recently took over l 00 teenagers away for & fun-filled and spiritual few days in Staffordshire and a sim ilar nunibcr to. Liinitless Trestival" in the summer. Other minislri¢s continiie to flourish- notably the work with church men and women wliere many are gathering regularly for focussed input and activity. The church continue5 to have an intentional Inler¢ulÉural feel and the leadership teams increasingly reflect thi5. ReAeh IYottinghAM has had ¢1 tiirbulent year with a change of leadership. Ben Rook has Stepped in lo provide stability and a new structure and way of being has been established. A new local team is now in place led by Emmanuel Chiweshe and the teani will be looking to see how new life cali be breathed into the community in the coming year.
REACH Trust (A ChAritAble Company Limited by Guarantee) Group Trustees, Report fijr the Yegr Ended 31 August 2024- continued Reach EAStwood - Eastwood has been flourishing in recent times with growth and lots of life. The team is in flux and is being well supported by Ben Rook and the widei. Reach Senior Leadership Team. Reach The Med.- The team is now well established with a new core of people. It is growing. The Malaga team will be strengthened ilext year when Adani and Karina Martin move to the city lo bring fresh leadci'ship. The eonnection into North Africa continues to be strong and there is a growing community ihere too. Re#eh Centre & ReAch EveJits- Reacli Events is fuiictioning well and has developed into a high quality events business with the values of the Church at its core. Tliere is I1n increasing emphasis on suppoiting loeal business and increasing environmental awareness. The revenue from Reach eveiits allows the Church to meet its core objectives. Theological Edue#tion - Startiiig Seplember 2021, the charity continues in partnership with Westminster Theologi¢al College to provide a hub for higher education qualificalions. Re%ch Response - Reach Response is a Reach enterprise to partner Ivith local Christian charities and initiatives and looks to see how we can proinote thein and release volunteers from within Re&cli to help serve with these organisalions. Community Grocer- Work on the community grocers has beglin after fundraising achieved the setup figure agreed by the truslces. Work has begun lo convert the downstairs space of Bridge Hou5c into a shop, store and community hub. The store manager and deputy manager have also been appointed in readiness for the opening. Work is ongoinsy to recruit a core of dedicated volunteers with the aim to open in September 2024. Statement of Public Benefit The Directors confirm that they have complied with their duties under section 17 of the c.harities Act 201 I, with regard to public benefit.
REACH Trust (A ChAritAblt Comp¥ny Limited by Guarantee) Group Trustees, Report for the YeAr Ended 31 August 2024- continued FINANCIAL REVIEW The pi'incipal funding sources of the charity in the year are as always the voluntary donations of its people and the gift from its trading company Riverside Event Management Limited. For the year, Reach Trust, including its subsidiary, had income of £992.791 and expenditure of £1,112,462. This resulted in a nel deficit of £119,671 for the year. The expenditure included depreciation charge of £83.147. At the end of the Financial Year the Group's net asset position decreased by £119,671 to £799,051 (2023.. £918,722). Reserves Trustees are required to ensure that the charity maintains sufficient reserves lo ¢nsure effective coiitinuity in achieving its objectives should challenging circumstances arise. The trustees have identified that it is appropriate to have a reserves policy based on the risks associated with a shortfall in donation income and/or significant unanticipated costs. The trustees consider that it is likely to take three months for the charity to change ils financial model in response to a marked decrease in income or increase in expenditure and therefore Ihe free reserves (i.e. general fund net Current assets) minimum target shall be based on the net sum of the following.. Approximately three months of charitable expenditure. Less. 50 /0 of three months of actual income from unrestricted donations, includiiig a proportion of gift aid income. Conimercial trading activity is excluded from the calculation. Based on the 2023124 accounts. the Reserves required to meet the above criteria would equate to £115,644. Based on our budgeted and projected figure5 for the following year {2024125), Ilie minimum target is estimated lo be the same. There is, therefore, an excess of £7,000 between the Reserves Policy level and the actual Free Reserves available. Based on the budgeled figures for the following year. the excess is estimated lo be tlie same The Trustees therefor¢ consider that the Charity has sufficient reserves to ensure effective continuity in achieving its objectives should challenging cTrcum5tan¢es arise. PLANS FOR THE FUTURE Conclusion - This next year we are expecting to see a steady development and growth of our core work, the development of healthy Christians in localities across the East Midlands and where we can, overseas in Spain & N. Africa.
REACH Trust (A Charitxble Company Limited by GuArantee) Group Trustees. Report for the Year Ended 31 August 2024- eontinued Reference and Administrative Details Charity Name: REACH Trust Charitable Status: The charitable company has charitable status and is reiyistered with the Charity Commissioii under registration number 1080638. Company Number: 03971567 Directors: D Park (Chair} T J Wood (hppointed 26.10.24) J R M Abraham (resigned 24.6.24) A D Smith {appointed 26.10.24) L L Norinc2n (appointed 26.10.24) T Stokes (resigned 30.9.24) J M Wright (resigned 24.6.24) J M Leacli (appointed 4.J.24} R S Price (appointed 4.3.241 Secretary: K C Parmar {resigned 4.3.24) A Davies {appointed 5.3.24) Directors: The ¢ibove Served as Directors as indicated above. The Directors of the Company are also the Trustees of the charitable activities. Registered Offjce: The Riverside Centre Rivcrside Court Pride Park Derby DE24 8HY BAnker5: Barclays Bank PIC Nottingham and Derby Team Level 4 I Chapel Qiiarter Maid Marion Way Nottinghain NGI 6HQ Senior StAtutory Auditors: TC Group l O Stadium Business Court Millenniuin Way Pride Park Derby DE24 8HP STRUCTURE, GOVERNANCE AND MANAGEMEIYT Governing Document Reach Trust is a company limited by guarantee and governed by its Memoranduin and Articles of Association. It is registered as a charity with tl)e Charily Commission.
REACH Trust (A ChAritAble CompAny Limited by Guarantee) Group Trustees, Report for the Year Ended 31 August 2024- continued Recruitment of Trustees The Trustees may appoint a person who is willing lo act lo be a Trustee either lo fill a vacancy or as an additional Trustee provided that appointnienl does not cause the number of Trustees lo exceed aiiy number fixed by or in accordance with the Articles as the ii)aximum number of Trustees. {The number of Trustees shall be no less than three but shall not be subject to any maximum, unless determined by ordinary resolution). The Trustees are the members of the charity. Trllstees, Induction and Training New dire¢tors receive half a day's overview of Reach Trust's organisational struCre, decision-making processes, the recent financial performance of the cl)arity, together with the budet and receive copies of the Memorandum and Articles of Association. Directors are referred to and encouraged to read appropriate infom)ation on theii. legal obligAtions under charity and company law, and the Charity Commission guidance on public benefit. Related Parties and Cooperation with Other OrgAnisations In addition to the trustees a related party of the chai'itable Company is a trading company, Riverside Event Manageinent Liinited. The principal activity of this coinpany is the provision of rooin hire and related facilities,. further detail is given in note 24 to the accounts. Thc company is a wholly owned subsidiary of the Charity and Gift Aids all of ils profit5 to the Charity. P%y Policy for Senior Staff The Trustees and the key management personnel of the charity are in chai'ge of operating the charity on a day to day basis. Detai15 of Trustee payinents and relaled party transactions are disclosed in note 20 to the accounts. The pay of senior staff is reviewed aniiually by the payroll subcommittee who present their report / recommendations to the board of trustee5 for approval. Risk Management The Operations and Policy sub-committee has oversight of Risk Management and other policies within Reach Trust. The sub-COTnmittee is Illade up of two Trustees (one of whom is the Chair). Head of Operations, Finance and Enterprise. Risk awareness and implementation of any required policie5 and practices is part of the temis of refer¢nce for this committee and as such actively looks to maintain a low-risk profile for the or¥ani5ation as a whole. The following areas are categories that are monitored and under which risks Inay fall.. A. Strategic & Legal B. Operational C. Property D. Employment Financial The following were areas where major risks have been identified: A. Strdtegic & Legal Employment Legal Expertise Mitigsttion- As per previous years we maintain our counsel of a HR Solicitor whom we have on a monthly retainer. This has once again proven to be invaluable as we liave navigated some significant staffiiig cS)anges in the year. In addition, we are also ulilising legal expertise lo complete the companylcharity name Change and also atnend our Articles of Association.
REACH Trust (A Charitable Company Limited by GuArantee) Group Trustees, Report for the Ye4r Ended 31 August 2024- continued B. Operational Safeguarding Children and Adults Mitigation= ThirtyOneEight (an external organisation specialising in Safeguarding) are Reach Trusl's preferred supplier for DBS checks and expert advice and traiiiiiig. The organisation is used to carry out DBS checks and is used as a point of expertise for any questions arising within the organisation regarding safeguarding and legal obligations (or best practice). Creation and iipdating of policies and a database of all volunteers working with children, youth and vulnerable adults remains a priority with additional section to include training. A current focus which has gained niore traction is to include more robust policies on vulnerable adults and safeguards against spiritual abuse. IT Mitigation.. IT infrastructure continues to be a focus for Reach Trust. It already has in place secure database storage and processes Isucli as 2FA and virus scanning software) and encourages staff lo be aware of fraudulent activities especially when it comes to spam emails. Reach Trust has also significantly upgraded the capacity and security of the internal network to reduce the cyber attack vector. C. Property Reach Centre and Bridge House Reach Trust utilises our preferred insurance brokers and have completed an exercise to ensure that building, fabric and item valuc5 arc up to date aiid records accurately reflect current assets. D. Employment Staffing and HR As has been mentioncd already ReaGh Trust utilise a legal expert in employment law to ensure that any risks are mitigated. This has been the case with the changes required within REM. Systems Reach Trust have also invested in an online HR system to (electronically) handle leave, sickness, objectives and meetings. This system has proven invaluable this year. E. Financial Income Regular cashflow analysis remains in place to track the overall financial picture and take action as and where required. Fraud Reach Trust continues to refereiice Charities Commissions Guidance in handling fraud and cyber crime (htt s:/lwww. ov.ukl uidancel rotect- our-charit -from-fraudllia¢klin -charit -fraud-8- uidin rinci
REACH Trust (A Charitable Company Limited by Guarantee) Group Tru5tees' Report for the Year Endtd 31 August 2024- continued Statement of Directors, Respon5ibilitie5 Tlie Directors (who are also truslees of ihe charitable acliviÉies for the purposes of charity law) are responsible for preparing the directors report and ihe financial statements in accordance with general applicable law and United Kingdoni Accounting Standards (United Kingdom General Accepted Accounting Practice)- Company law requires the directors to prepare fiiiancial stalenients for each financial year whicli give a true ai)d fair view of the state of affairs of the charitable company and of the incoming resources and application of resources of the charitable coiiipany for that period. In preparing these financial statements, the directors are required 10.. select suitable accouiiting policies and then apply theni consistently- observe the methods and principles in the Charities SORP. make judgments and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- prcpare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The directors are responsible for keeping adequate accounting records tliat disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safekeeping the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far the director5 are aware.. there is no relevant audit infonnalion of which the charitable company's auditor is unaware. and the directors have taken all steps that they ought to have taken to make ihemselves aware of any relevant audit inforination and to establish that the aud itor is aware of that information. Thc Trustees are responsible for the mainlenxnce and integrity of the corporate and financial iiiforination included on the charity'5 w¢bsite. Legislation in the United Kingdom governing preparing and dissemination of financial statements may differ from legislation in oihcr jurisdictions. Members of the charitable company guarantee to contribute an ainount not exceeding £1 O to the assets of the cliaritable company in the event of winding up. The total number of such guarantees at 31 August 2024 was 6 {2023.. 6). TC Group were appointed as the charitable company's auditors dliring the year and have expressed their willingne55 to continue in that capaGity. A resolution to re-appoint TC Group as auditors of the Company will be proposed at the Annual General Meeting. This report has been prepared in accordance with the statement of Recommended Practice: Accounting and Reporting by c.harities (effective l. January 2019) and in accordance with the special provisions of Part 15 of the Companies A¢t 2006 relating to small entities. Approved by the Board of Trustees on 2310512025 and signed on its behalf by.. D Park {Director)
Report of Independent Auditors to the Members of ReAch Trust (A Charitable Company Limited by Gu4T411tee) Opinion We have audited the financial statements of Reach Trust {the parent charitable company) and its subsidiary (the 'group'} for the year ended 31 August 2024 on pages twelve to twenty five which comprise the Group and Parent Charitsble Company Statement of Financial Aciivities, the Group and Parent Charitable Company summary Income and Expenditure Account, Ihe Group and Parent Charitable Company Balance Sheet, the Group and Parent Charitable Coinpany Cash Flow Stalement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Aecounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practicel- In our opinion the financial slatements- give a true and fair view of the stale of the group's and parent charitable compaiiy's affairs as at 31 August 2024 and of the groups incoming resources and application of resources for the year then ended. have been properly prepared iii accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. B*si5 for opinion We Conducted our audit in accordance witli International Standards 011 Auditing (UK) {ISAs {UK)l and applicable law. Our re5p0115ibilities under those standards are further described li) the Auditors, responsibilities for Éhe audit of the financial statements Section of our report. We are independent of the charitable company iii accordance with the ethical rcquireinents that are relevant to our audit of the financial statenients in the UK, including the FRC'S Ethical Standard. and the provisions available for small entities, in the circumstances set out in note twenty two to the financial statement5, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is 511fficient and appropriate lo provide a basis for our opinion. Conclusions relating to going coneern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report lo you where: the directovs use of the going concern basis of accounting in the preparation of tho financial statements is not appropriate. or Ihe director has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the groiip's or parenl charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least Iwelve months from the date when the financial statements are authorised for issue. Other informatlOD The other information comprises the informatioii included in the annual report, other than the financial statements and our Auditor5 report thereon. The Trustees are rcsponsible for the other infomiation. Our opinion on the financial slalements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whetl?er the other information is malerially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatemen15, we are required to detemiine whether there is a material mi5Statement in the financial statements or a material IT]iSStatement of the other information. If, based on the work we have performed, we conclude Ihat there is a material misstatetnent of this other infom]ation, we are required to report that fact. We have nothing to report in this regard.
Report of Independent Auditors to the Members of REACH Trust (A Ch8ritable Company Limited by Gu*rAntee) Opinion on other matters pre5eribed by the Companies Att 2006 In our opinion, based on the work undertaken iii the course of tlie audit.. Éhe infonnation given in the Trustees Report which includes the Director's report for Éhe financial year for which the rinancial statements are prepared is consistent with the fiiianci<il slatemenls. and the Report of the Directoi's included within the Trustees report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the l ight of the knowledge and underslanding of the company and its environment obtained in the course of the audit, we have llot identified material misslalements in tlie Director's report iiicluded within the Trustees report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to yoii if, in our opinion.. adequate and proper accounting records have not been kept by the parent charitable company. or returns adequate for our audit have not been received froiii branches not visited by us. or Parent charitable company financial statements are not in agreement with the aecounting reeords and returns- or certain disclosures of trustee's remuneration specified by law are not made. oi. we have not received all the information and explanations we require for our audit. or the triistees were not entitled to prepare the financial statements in accordance with the small coinpanies regime aiid take advantage of the small companies, exemption from the requirement lo prepare a Strdtegic Report or in preparing the Trustees report. Responsibilities of Trustees As explained more fully in the Statement of Trustees Responsibilities set out on page nine, the Trustees (who are also the directors of il)e charitable company for the purpose5 of company law) are responsible for the preparation of the financial statemcnts and for being satisfied Ihat they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparhtion of financial statements that are free from inaterial misslatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the groups and parent charitable company's ability to continue as a going concern. disclosing, as applicable. matters relatcd to going concem and usiiig the going concern basis of accounting unless the trustees either intend to Siquid3te the group or parent charitable company or lo ease operations, or has no Tealistic alternative but to do so. Our responsibilities for the Audit of the financial statements Our objectives are to obtain reasonable assurance about whether the group financial stalemenls as a whole are free from Inaterial misstatemeiit, whether due to fraud or error, and to Issue a Report of the Auditoi's that include5 our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordanc¢ with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economi¢ decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularitie5, including fraud. Th e extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below= Enquiring of management of any known or suspected inslances of fraud, a5 well as considering management's assessnienl of the susceptibility of the financial statements to fraud. Perforiiiing 5ub5tantive testing over a selection of journal entries made in the period, to address the risk of fraud due to mai)agement override of controls. With a focus on entries made by unusual team members or entries made at unusual liines or on unusual dales. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the 10
Report of Independent Auditors to the Members of REACH Trust (A ChArit8ble Company Limited by GuArAntee) Reviewing the fiiiancial statemeiit disclosures and tesliiig to suppoiting doeuiy]entatioii to assess compliance witli provisions of relevant laws and regulations described as having a direct effect on the financial stalements. Specifically clieeking compliance with Charity Commission as well as employment and tatIOn laws and regulations. Performing analytical procedures to identify any iinusual or unexpected relationships that may indicate an increased risk of Imaterial misstatement as a I'esult of fraud, or management override. Assessing accounting estimates which have a Inaterial impact of the year end accounts. to determine if there is indication of manageineilt bias. Despite the audit being planned and conducted in accordance with ISAS (UK) there reinains an unavoidable risk that Inaterial misstatements in tl)e financial statements may not be detected owing lo inherent liinitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls. A further description of our responsibilities for the audit of the financial statements is located on ihe Financial Reporting Council's websile at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. Use of our report Thi5 report is made solely to the charitable ¢omp&ny's members, as a body, in accordRnce with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we Tnight state to the charitable company's members those matters we are required to state to ihem in a Report of the Auditors and for no other purpose. To the fullest exlent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitablc company's member5 as a body, for our audit work, for this report, or for the opinions wc have formed. James Liptrott FC SC (Senior Statutory Auditor) ror and on behalf of TC Group Statutory Auditors l O StadiLiJn Busiiiess Court Millennium Way Pride Park Derby DE24 8HP Date
REACH Trust (A Charitable Company Limited by GuArantee} Consolidxted Statement of FinanciAI Activities (Incorpor&ting an Income and Expenditure Aeeount) for the Year Ended 31 August 2024 2024 2023 Ilnrcslricte Restricted Unrestrictcd Rcstritted Funds Notes Total Total INCOME Donaiions and Lcgaci¢s 437,411 99,297 536.708 426.453 14,256 440.709 litcomgfroin Cliariluhle Activilies Opertttion of Riverside ChurLh iiiid delivery or Mission Oihrr Incoming Resources 18.350 5.403 6.946 25.296 5,403 27,149 27.149 52,779 52.779 liicomefrom Otlier Trading Aelivilies Commercial Trading Aclivities Incoiiic froin Oih¢r Activities Invc5tm¢nt Inwm 419.399 419,399 429.888 429,888 5,985 5.985 .253 1.253 886,548 106.243 992,791 910.373 41.405 951.779 EXPENDITIIRF. Cos¢ of Raisiiig Fund5 Con1mcl4l Trading Costs rundraising C".osls 320.978 320.978 318,886 318.886 Eip¥ndilure on Charitable Acliiljljés OpLrati(?n of Rivcrsidc Chiirch and delivery ol. Mission Support Costs 689.627 27.015 74,842 764.469 27.015 788.437 9.470 30.697 819.134 9.470 1,037.620 74,842 .112,462 1,116.794 30,697 1.147.491 Nct Ineomel(FxpcnditMre) Bcfore'l-ransfers 1151,072) 31.401 (119,671) 120CTr.420} 10.709 1195.712} I'Tan5fer5 1.625 1.625 2,000 2,000 Net Incom¢JlExp¢Dditure) {152.6971 33.026 (119.671) 1204.420) 8,709 (195.712) 'raxation Charge Net Movemcnt in Funds 1152.697) 33.026 1119.671 } 1204.420) 8.709 1195.712) Reconeiliation of Funds Totsl l.unds Broughi Forward 853,078 65.644 918.722 .057 497 56.936 ,114.433 -rotal Funds Carried Forward 700.381 98.670 799.051 853,078 65,644 918.722 There were no r¢cognised gain5 or105ses other than those included in the Sthtement of Financial Activities. All incoming resources and resources expended derive from continuing activities. The notes on pages 15 to 25 form PPArt of these financial statements 12
REACH Trust (A Ch#ritxble Company Limited by Guarantee) ConsolidAted and Charity Balance Sheet for the YeAr Eiided 31 August 2024 Grou 2U24 Grou 2023 Cliari 2024 Charit 2023 Notes FIXED ASSETS 'r&ngible Fixed Asscls Investments 1.661.916 1.726.164 1.661,916 1.726.164 12 Total Fixed Assets 1.661.916 1.726.164 1.661.917 1726.165 CURRENT ASSETS Debtors- Income I'ax Refund DLbtors Bank Accounts Dcwsit Accounls Rcsli'ictcd Fund Bank Accounts PLlly Cash Prepuyinents and Accrued Income IntercompÈu)y 58.C)26 55.432 27.327 115.640 98.670 1,619 7.512 15,689 34.837 176.500 119.074 65.644 1.008 459 58,626 1,401 5.661 115,640 98.670 1.318 7.512 15.689 (762) 127.991 119.074 65.644 808 459 3.003 TOTAL CURRENT ASSETS 364,826 413.211 288.828 331,906 CREDITORS.. Amounl.s falling due within one )iear 13 (197.417) (176.748) {148,535) {123.750) NET CURRENT ASSETS 167,409 236.463 140.293 208.156 TOTAL ASSETS LESS CURRENT LIABILITIES 1.829,325 1,962.C)27 1,802,210 1,934.321 CREDITORS: Amounts falling due after more ihaii onc ycar 14 11.030.274 1.043.905) 1.003.371) NET ASSETS 799,051 918.722 798.839 922.790 THE FUNDS OF THE GROUP: Re.8tri¢led Funds 17 98.670 65,644 98.670 C)5.(p14 Uni'e5tricted Funds.. Subsidiary Designated Balancc of Unrestricted Funds 212 59.564 6411,605 (4,0681 57,177 799.969 18 59.564 640,605 57.177 799.969 700.381 853,077 700.169 857.146 TOTAL CHARITY FUNDS 18 799.051 918,722 798,839 922.790 I'he Trustees liavc prepared group accolints in accordance wilh section 398 01. the Companies Act 2006 and section 138 of the Charilies Aci 2011. Thesc accounts are prcparcd in accordance wilh ihe special provisions ot- Part 15 of ihe Companies Act relatii)g lo small companies and constilute the annual accounls required by ihe Compani¢s A¢i 2006 and are for circulation lo Ineinbers o l- Ilie company. 2310512025 Approved by the Board.. (Datel The notes on pages 15 10 25 10rn] part of these financial statements. 13
REACH Trust (A Charitable CornpAny Limited by Guarantee) Consolidated Cash Flow St#tement at 31 August 2024 2024 2023 Net Cash Flow from Operating Activities 25 7,061 20,242 Returns on Investments: Interest Received Interest Paid 5,985 90,501) 1,253 73,569 (77,455) {52,074) Taxation Disposal of Fixed Assets Capital Expenditure and Financial Investments.. Purchase of Tangible Fixed Assets 16.146 (96.353) 168.220) Financing: Capital Element of Loan Repayments Made Capital Elenient of Loan Repayments Received (22.617) (45.488) Net Cftsh Infiowl(Oufflow) 118,970 113708 Increascl{Decrease) in Cash in the Year {118,970) {113.708) Net Cash Resources at 31 August 2024 362,226 475,934 Net Cash Resources it 31 August 2024 243,256 362,226 At 1.9.23 Cash flow At 31.08.24 Net r4sh Cash at bank 362,226 118,970) 243,256 362.226 118,970) 243,256 Debt Bank loans (1.083,596) 22.617 (1,060.979) (1.083,596) (1060.979) Total 721,370 96.353 817,723 14
REACH Trust (A Charitable Company Limited by Guarantee) Notes to the ConsolidAted Financial StAtements for the Year Ended 31 August 2024 StAtutory Inforniatio Reach Trust is a private Charitable Coinpany, Limited by Guarantee, registered in England and Wales. The C,haritable Company"s registered number and registered office can be fouiid on page five. Accounting Policies Basis of Preparation Tlie financial statements have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommeijded Practice applicable to charities preparing their accounts in accordanee witli the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS102) Ilssued 1° January 2019)- (Charities SORP (FRS102)), tlie Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are presented in sterling £1. Group Financial Statements The financial ststemeiits consolidate the results of the charity and its wholly owned subsidiary Riverside Event Management Ltd on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure account for the charity has not been presented because the Charity has taken advantage of the exeiiiption afforded by Section 408 of the Companies Act 2006. Reach Trust meets the definition of a public benefit entity under FRS 102. Going Concern The Trustees have reviewed the charity's financial posilion, inrluding its reserves and future budgets, as part of their assessment of the charity's ability to continue as a going concern. Although the charity has reported a deficit for ihe currenl financial year. it holds significant cash reserves that are sufficient to wver operationai cost5 for the foreseeable future and maintain its cash reserve policy. The budgets have been prepared wilh reasonable assuinptions regarding income and expendilure. Based on these reviews, the Trustees arc confident ihal the charity h85 adequate resources to meet it5 liabilities as they fall due for a period of at least 12 Inonths from the dale of signing the financial stateinents. Depreciation And Fixed Assets Fixed assets costing less than £1,000 are not capitslised. Depreciation is provided on a straight-line basis at rates estimated to Ivrite off each asset over the term of its Useful life. The rates in use are as follows=_ Freehold Property Office Equipinent Fixtures and Fittings 2% and IO% perannum I013j0/0 per annum I 00/0 per annum Donations and Offerings Received Voluntary incoine received by way of donalions and gifts is accounted for when receivable. Any resuli&nt gift aid tax claim is included as part of the income for the year. Other Income Other income is accounted for on the accruals basis so far as i5 prudent to do so. Investment incotne is included when receivable. Donated Services and Facilities Donated services and facilitie5 are recognised as income when the charity has control over the item, any conditions associated with the donated item have been Inet, the receipt of economic benefit from the use by the harity of the item is probable and Ihat econoinic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity, which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 15
REACH Trust (A Charitable Company Limited by Guarantee) Notes to the Consolidated Financial StAtements for the Year Ended 31 August 2024 - eontinued vi) Expenditure and Irrecoverable VAT Expenditure is allocated to the relevant cost category in accordance with internal guidelines issued by the charity and is appropriate to the use derived froni the resources. Expenditure is recognised on an accrual basis as the liability is incurred and includes VAT wliicli cannot be recovered. vii) Fund Accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Management Cominittee for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or ihrough the terms of an appeal. viii) Pen510115 The charity operates a defined contribution pension scheme. Contributions to the scheme are recognised as resources expended upon payment. The assets of the scheme are held separately froin those of the charity in an independently administered fund. Contributions payable for the year are shown within the Statement of Financial Activities. ix) Limited by Guarantee The Charity is limited by guarantee and in the event of it being wound up, every iiiember is liable to Contribute a sum not exceeding £1 O. There are no shares of any class either authorised or allocated. LeAses Rentals payable under operating leases are charged to resources exp¢nded on a straight-line basis over the period of the lease. xi) Investment in Subsidiary The investment in the subsidiary is included at Cost. xii) Deferred TAXAtion Deferred tax is provided in full in respect of iaxalion deferred by timing differences between treatmenl of certain iteins for taxation and accounting purpose5. The deferred tax balance has not been discounted. This accounting policy is relevant for the subsidiary only. As slated in note 10, Reach Trusl is a registered Chai'ity and is thus exempl from tax on income and gains. xiii) Debtors Debtors are recognised at Ihe settlement amount owed to the Charity or prepaid. xiii) Creditors Creditors aT]d provisions are recogT]ised where the Charity has a present obligation resulting from a past event that will probably result in the trnnsfer of funds to a third party, and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount. xv) Financial Instruments The Charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at Iransaclion vallte and subsequently measured at their sertlement value. 16
REACH Trust (A Charitable CompAny Limited by Guarantee) Notes to the Consolidated Fin%neiAI StAtements for the Year Ended 31 August 2024- eontinued xvi) Judgtment And Key Sources of Estimation UneertAinty The preparation of accounts using generally accepted accounting principles requires management to make estimates and assuinptions thal affect the reported amounts of assets and liabilities at the date of the aecounts and the reported amounts of revenues and expenses during the reporting period. The key estimates and assumptions used in the Financial Statements are detailed in the accounting policies. Income from Trading Subsidiary During the year the subsidiary coinpany donated the majority of its profits to the Charitable company as Gift Aid donations. The income received from Riverside Event Management Limited during the year was as follows=. 2024 2023 Rent and rates Gift Aid Donation 80.316 12,639 92,955 73,356 30,000 103,356 Investment Income Unrestricted Funds Restricted Funds 2024 Total 2023 Tot21 Interest received 5,985 5.985 1.253 Other Ineoming Resources UDrestricted Funds Restricted Funds 2024 Total 2023 Total Other 5,403 5,403 52,779 5,403 5.403 52.779 Fund raising trading: cost of goods And other costs Unrestricted Funds Restricted Funds 2024 Total 2023 Total Fund raising costs 17
REACH Trust (A CharitAble Company Limited by GuarAntee) Notes to the Consolid8ted Financial StAtements for the Year Ended 31 August 2024- continued Expenditure on Charitable Activities Unrestrieted Funds Restricted Fund5 2024 Total 2023 Total Pastoral Fees & Expenses Ministry Costs Property Costs Office Costs Mortgage and Finance Costs Other Expense Event Costs 342.251 72.244 141,161 43,470 90,501 342,251 147,086 141 161 43,470 90,501 401,077 163,763 138,185 35,883 73.569 400 6,257 819.134 74.842 689,627 74,842 764,469 Support Costs Unrestricted Funds Restricted Funds 2024 Total 2023 Total Auditors Remuneration Auditors Remuneration: non-audit Accountancy Charges 8.750 1,200 17,065 27,015 8.750 1,200 4.394 1,188 3,888 9.470 27,015 Net Incoming Resources for the Period 2024 2023 The net incoming resources are after charging.." Depreciation of tangible fixed assets Auditors remuneration.. Charitable Company Other (accounts assistance) Operating leasc rentals 83.147 8,750 1.200 4.394 1,188 Reach Trust and Riverside Events Management Limited Directors givin(F in the financial year tolall¢d £26,056 (2023= £282). During the year the average number of staff employed by the group was 2112023- 24). the majority of staff are ernployed on a part time basis. No member of staff was paid in excess of £60,000. 2024 2023 Staff costs note.. Salaries Pension costs Social Security costs 407,896 19,928 28,873 456,697 475,538 21,641 35,944 533,123 Trustee Remuneration and Related Party Transactions Other than in note 20. no emoluments were received by the board of trustees in their capacity as trustees. There were no other emoluments or expenses paid to any Charity trustee or persons conneeted with such a trustee, directly or indii'ectly from the funds of the company or from the property of any situation or body corporate connected with the Charity. 18
REACH Trust (A Charitable Company Lirnited by Guarantee) Notes to the Consolidated Financial Statements for the Year Ended 31 August 2024- continued 10. Taxation 2024 2023 Corpordtion Tax Reach Trust is exempt on tax on income and gains falling within section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Cliaritable Gains Act 1992 to the extent that they are applied to its charitable activities. No tax charges have arisen in tl)e Charity. Analysis of Movement in Fixed Assets GROUP Freehold Pro ert ui Total Cost At I September 2023 Additions Disposals 2,257,323 3,276 447,172 15,622 8,687 2,704,495 18,898 8,687 At 31 August 2024 2,260.599 454 107 2 714706 Accumulated DepreciAtion At I September 202J Charge for the year On disposal 742.170 47,551 236,160 35.596 8.687 978,330 83,147 8,687 At 31 August 2024 789,721 263.069 1,052,790 Net Book Value At 31 August 2024 1.470,878 191,038 1.661,916 At 31 August 2023 1,515,153 211,012 1,726,165 CHARITY Freehold Pro ert ui nd fittin Total Cost Al I September 2027 Additions Disposals 2,257.302 3,276 438,506 15,622 2,695.808 18,898 At 31 August 2024 ? 260,578 454,128 2,714,706 Accumulated Depreeiation At I September 2023 Charge for the year On disposal 742.170 47,551 227.473 35.596 969,643 83,147 At 31 August 2024 789,721 263,069 1,052.790 Iyet Book Value At 31 August 2024 1,470,857 191.059 1,661,916 At 31 August 2023 1,515,132 211.033 1,726,165 19
REACH Trust (A ChAritible Company Limited by Guar%ntee) Notes to Éhe ConsolidAted FinxneiAI Statements for tht Year Ended 31 August 2024 - continued 12. Investments CHARITY 2024 2023 Investment in Riverside Event Management Limited The company owns IOO/o of the issued share capilal of a trading company, Riverside Event Management Limited. whose principle aetivity is that of the provision of room hire and related facilities. 13. Creditor5: Amounts falliDg due within one year Grou 2024 Grou 2023 ChArit 2024 Chari 2023 Lease Fixed Assets Amount due to Subsidiary Taxation and Social Security Aocruals Bank Loans (Secured) Bounce Back Loan 634 5,450 634 82,564 5,201 34,903 19,761 5,472 5,450 50,000 8,968 24.478 29.382 5,472 19,882 146,196 19,761 10.944 14.656 116,317 29.382 10,943 197,417 176,748 148,535 123,750 14. Creditors". Amounts falling due #fter one yeAr {Group and Charity) Grou 2024 Grou 2023 Chari 2024 Charit 2023 Bank Loans (Secured).. 2 to 5 years More than 5 years 165,002 811,466 117.529 860.994 165,002 811.466 117,529 860,994 Lease Fixed A55ets-. 2 to 5 years 634 634 Bounce Back Loans.. 2 to 5 year5 More than 5 years 43,774 10,032 1.030,274 43,773 20,975 1.043,905 21,887 5.016 1,003,371 21,887 10,487 1,011,531 The Bank Loans are secured by way of a fixed and floating charge over the property of the Charity. Interest is charged at 3.5 /0 per annum over the Bank of England base rate prevailing. The Bounce Back Loans are not secured and are repayable over l O years at an interest rate of 2.5019 per annum. The leased asset is a hire purchase agreement (capital lease agreement), for the purchase of coffee Tnachines. 20
REACH Trust (A Charitable Company Limited by Guarantee) Note5 to the Consolidated Financi81 Statements for the Year Ended 31 August 2024- continued Summ¥ry of Funds- Group A58¢ 31.8.23 Asat 31.8.24 Incomin Oul oi Tran5fer5 2023 Restricted Funds Unrestricted Funds Tradiiig Subsidiary 65,644 857,146 4,068 106,243 467,149 419,399 74,842 622,501 415 119 1,625 (1,625) 98,670 700,170 212 65,644 857,146 4.068 918,722 992,791 1.112,462 799,051 918.722 16. Summary of Funds- Group A58t 31.8.22 AsAt 31.8.23 In¢omin Out oin 'IrArk5fcrs 2022 Restricted Funds Unrestricted Funds Trading Subsidiary 56,936 1,062,574 41,405 589,290 321.083 30,697 796,720 320 074 (2.000) 2,000 65,644 857,146 56,936 1,062,574 1,114.433 951,779 1,147.491 918,722 1.114,433 Analysis of Net Assets Between Fund5 Ceneral Fund Restricted Funds 2024 Total General Fund Restricted Fund5 2023 Total Tangible fixed assets Investments Current assets Current liabilities LoTtg tenn liabilitie5 1,661,916 1,661,916 1.726,164 1.726,164 266,156 {197.417) 1030,274 98,670 364,826 {197,417) 1030 274 346,168 (175,350) .043,905 65,644 411,812 (175,350) ,043.905 700,381 98,670 799,051 853,077 65,644 918,722 21
REACH Trust (A Charitable Company Limited by Guarantee) Note5 to the Consolidated FinAnei#l Statements for the Year Ended 31 August 2024- continued 18. Restricted Funds The following are details of the charity's restricted funds-. At 1.9.23 Income tnditure Transfers At 31.8.24 Belper Youth Hong Kong Missions Development BCC Hardship Pund Reach Response Benevolent Fund Open Door5 Reach Inspiration Fund WTC Alpha Commuiiity Grocers Synergy 10.500 21,925 4,751 1,726 10,809 5,230 683 6,532 3,488 703 22.153 9,799 229 4,751 935 9.420 5,230 683 6,385 8,662 297 1,009 1.088 2.398 702 5,804 690 97,410 100 106,243 849 630 1,626 44,705 52,705 100 98,670 65,644 74.842 1,626 At 1.9.22 Income enditure Transfers At 3J.8.23 Belper Youth Hong Kong Harper Missions Development Alpha Sphere Money (Synergy) BCC Hardship Fund Reach Response Benevolent Fund Open Doors Reach Planting Reach Inspiration Fund ICUK WTC 12,500 (2,000) 10,500 21,925 22,840 915 155 155 4,751 2,206 2,850 1.834 10,688 8,617 683 2.083 7,081 4,751 4,559 1,000 6,765 3,850 108 8.199 6,091 1.726 10,809 5.230 683 8.320 2,704 175 1,807 2,356 6,532 3,488 56,936 3,488 65,644 41,405 30,697 2,000 22
REACH Trust (A ChAritable Company Limited by Guarantee) Notes to the Consolidated FinAnci#l Statements for the Year Ended 31 August 2024- continued Purposes of rcstri¢r¢d funds-_ Bel er Youih A Icgacy rcceived during IhL prior year for thc work amongsl the youth specifically in Belper. and wider ivithin the Reach sphere ol-youth iyoi'k. Reh Trust supports various overseas and homebased workers within the egis of the Reach -l-rust. Special collections taken fror these individualq is disbursed to thcm to provide supy)rt for Ihe specific purposes lor which ihe collcction is taken. Missions Develo ment Developmcnt to support over.qeas Irip%, peoplL serving overseas and in the UK, providing support lo relugees. The Alpha course is an evangelistic course which seeks to introduce the basics of the Christian faith through a series ofialks and dis¢ussions. S hcrc Mon ner This money is to sliprt the administration of an iniliaiivc ot a neti¥ork of churches working logcthcr in the UK. named as 'Synergy', which ivill be regi5tcred as a charity in its own right in the ncai. futurc. LIC.C Ilardshi A .qpc¢ial colleclion thkcn up by Bclpcr lo support individuals and fdmiSie% at a time whcn they are unablL io support thctnsclvcs. and to lielp through the dit]i¢ult period. Reach Res onse A special collection wa8 thkun during Ihc ycar to support (he work ol. partners that Reach Triist lias workcd with over the years and whosc aims and pl1rSC5 align with Reach Trust's. During the y¢ar the tnoncy was disbursed to various partners. prinLipally DCM, Storchousc. Upbcal Communitie%, Welcomc Churches, Rcstore. Safe Fainili¢s for Children, Saftires, 14opc City Furniture, Shoulder lo Shouldcr and Talk It Over, which Reach Trust have supportcd ovcr the Benevolent Hardslii ci.'r) A special colleclion ivas taken during tl)c Covid Pandemic to siippori the disadvgnlagcd. I'h¢ Inoney was di5burscd ta variaus individuals facing financial difTiculticE during th¢ Crisis. identified by (he Seiiior Leader.% l-eain and Cominunity Groups ihroughout Reach. The Bci)¢volent Fund wa5 aiiialgamated wilh the Covid Crisis l-.und during ihc year. A lun(I sel up lo providc support to those in timc or rinancial need at ihc discretion ofthc Rca¢h Trust's leadership. A special ¢ollecLlQlI taken to support the work of Open Door.8 al a lime of a particular crises in a ovcrseas country Reach Plantin A special colleclion wos taken during the year to support the R¢arh TTUSI members and partner% lo plaiil churchcs in Lasl Midlands. thc resl ol UK and overseas. Rcac rration Th¢ fuiid wa5 set up during the prior year to 5UPPOrt the development of a niinistry for the i¥omen within the meTnbeis of the Church and the COLnmunity ICUK Tliis Inoney 15 held on behalf of ICUK {Inter Cultural IJK), to support the adTninistration of an initiative wl)ich will promolc ihc vision and values of inlereultural ¢hurch to Christian gTOUP.% in the UK. ICUK was registered as a charity in it5 own right iii the year. WTC During the Year Reach Trust coniiiienced work in partiiership with Ihe Westminster Theolo8ical Collc¥c as a 'Flub Centre, in ihe Midlands to orrer accredited courses in theology. A on¢ otr specific donation was received lo support the provision of a digital library for ihc students enrollcd on the WTC courses. Comiiiunii Grocers Reach Community Grocers was ¢slablished to support families and individuals in the region who are racin8 the dil'lI¢ult cl)oice between h¢aling and ealing. Thi% fami shop-stylL groceTS aims to Iielp ih05e struggling lo put food on the table ainidst thc current cost-of-living crisis. It also works to r¢duce food ¥'aste and suppori niembers ihrougli Free courses and skills development. The grocers opcncd in Scpleniber 2025. willi funding sp¢nt iii lale July & August 2025 niainly on staffing and fixturcs & 23
REACH Trust (A Charitable Company Limited by Guarantee) Notes to the Consolidated Financial Statements for the Year Ended 31 August 2024- continued Designxted Funds The designated funds are alloeated for capital projects and spiritual Consltan¢y, the balance left aside being £59,564 19. Financial Commitments A photocopier lease commenced ii) January 2022 for a period of 5 years, quarterly pxyments of £545 are made againsl this liability. 20. Related Party Transactions No directors of the Charity had received remuneration during the period in their capacity as pastor or teacher. There are no other related party transactions. 21. Penslon Commitment The Charity contribules to defined contribution pension sehemes. The assets are held and administered by individually selected pcnsion providers. The pension cost charge represents contributions payable by the Charity to the pension schemes and amounts to £19.928 (2023.. £21,641). 22. FRC Ethical Standard- Provisions Avai18ble for Small Entities In common with many other entities of our size and nature we use our auditors to assist with the preparation of the financial statements. 23. Capital Commitment At 31 August 2024 the Charity had no capital comniitment5 (2023- NIL). 24. Subsidiary Company Riverside Event Management Limited - The Charity owns IOOO/o of the issued share capital of Riverside Event Managernent Limited ("REM"), a company registered in England and Wales {compaT]y number 04473452) the registered office is The Riverside Centre, Riverside Court, Pride Park. Derby, DE24 8HY. The subsidiary is used to further the overall objectives of the Charity by the provision of room hire and related facilities. 24
REACH Trust (A CharitAble Company Limited by Guarantee) Note5 to the Consolidated Financial Statements for the Year Ended 31 August 2024- continued A proportion of their taxable profits is given as a charitable donation to the Charity by Gift Aid- the amount for 2024 was £12.639 (2023: £30,000). A summary of the results of the subsidiary is shown below.. 2024 2023 Turnover Cost of Sales Other Income Gross Profit 419,399 {116.684) 424,439 (157,927) 302,715 266,512 Adininistrative Expenses NeÉ (Loss)IProfit Before Tax 298,434 4,281 266,503 1.009 Taxation Net (Loss)IProfit After Tax 4,281 1,009 Net Assets 4,281 1.009 25. Cash Flow Statement Reconciliation of net movement in funds to net cash flow from operating activities.. 2024 2023 Net incoming resource5 before taxation (119,671) (195,712) Adjustments: Interest paid Investment in¢ome Depreciation charges {Increasc)Idecrease in debtors Increasel(decrease) in creditors 90,501 (5,985) 73,569 (1,253) 83,039 (10,453) 71.052 (70.585) 29,654 7,061 20,243 25