2025-04-30-accounts - Mill Hill Chapel Trust

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Mill Hill Chapel Trust

Charity number 1081978

Annual Report and Financial Statements

for the year ended 30 April 2025

Mill Hill Chapel Trust

Annual Report and Financial Statements

for the year ended 30 April 2025

Contents	Page
Trustees' report	2 to 3
Examiner's report	4
Statement of financial activities	5
Balance sheet	6
Notes to the accounts	7 to 13

Prepared by West Yorkshire Community Accountancy Service CIO

Mill Hill Chapel Trust

Trustees' report for the year ended 30 April 2025

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates Sally Green Chair Appointed 8 November 2025 Katherine Kirkham Treasurer Appointed 8 November 2025 Sebastian Saenz de Santa Maria Aguilar Secretary Appointed 8 November 2025 Roy Coggan Resigned 8 November 2025 Wendy Whetstone Resigned 8 November 2025 Alan Hawkins Resigned 22 November 2025 Helen Ashe Resigned 8 November 2025 Sandra Griffiths Appointed 8 November 2025

Staff

Rev'd Jo James Minister Charity number 1081978 Registered and principal address Bankers Mill Hill Chapel Lloyds Bank plc City Square 65-66 Briggate Leeds Leeds LS1 5EB LS1 6LH

Registered in England and Wales

Solicitors

Investment Managers and Financial Advisors Solicitors Epworth Investment Management Wrigleys 9 Bonhill St 3rd Floor 3 Wellington Place London Leeds EC2A 4PE LS1 4AP

Independent examiner

Simon Bostrom FCIE West Yorkshire Community Accountancy Service CIO Stringer House 34 Lupton Street Leeds LS10 2QW

Structure, governance and management

The charity is governed by a scheme adopted on 3 October 2007 as amended by resolution dated 24 August 2014.

Method of recruitment and appointment of trustees

The trustees of the charity are appointed by the members at the AGM.

Mill Hill Chapel Trust

Trustees' report (continued) for the year ended 30 April 2025

Objectives and activities

The charity's objects

To promote or support the advancement of Unitarian and free Christian beliefs in accordance with the principles of Unitarianism as defined in the constitution of the general assembly of Unitarian and Free Christian churches.

The charity's main activities

To promote and support the advancement of Unitarian and Free-Christian beliefs in accordance with the principles of Unitarianism as defined in the constitution of the general assembly of Unitarian and Free Christian churches.

Public benefit statement

In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit.

Achievements and performance

The period between 2024 and early 2025 has been a time of strengthening our community, nurturing volunteerism, and responding to a powerful call to action for many at Mill Hill Chapel. While things may have seemed outwardly familiar, the transition away from a minister-led chapel following Reverend Jo James' departure in June has prompted a collaborative effort from committee members, staff, volunteers, and supporters.

We continue to welcome the Progressive Christian Network and The Weekly Sangha group, and are proud to host the Street Angels LGBT Evening space and the Care For Calais group. Our partnership with the Leeds Asylum Seekers Support Network (LASSN) remains strong, and The Giving Voice Choir continued to use The Priestly Hall for rehearsals, even though they have now transitioned to NHS premises.

We have hosted Author events from Hold fast Bookshop, and cinema screenings as part of Leeds International Film Festival , and Scalarama, Leeds DIY Film festival. Weaving voices came back in October for another talk and workshop to bookend the work they did at mill hill chapel last year, and Leeds Sanctuary has organised Social Justice lunches and talks alongside hiring the chapel for their Blue Christmas Service.

This year saw the departure of Reverend Jo James, who left his post after 10 years at Mill Hill Chapel. This has meant that we have leaned into our internal resources within our community, Services of great spiritual nourishment have been led by members which have been incredibly deep and moving.

Financial review

The net expenditure for the year was £106,069, all relating to unrestricted funds.

Reserves policy

The charity does not have a reserves policy which quantifies a level of reserves to be maintained other than that an appropriate level of free reserves are maintained.

The charity's free reserves, excluding fixed assets, at the year end were £342,734.

Approved by the board of trustees on 1/2/2026

Sally Green (Trustee)

Mill Hill Chapel Trust

Independent examiner's report to the trustees of Mill Hill Chapel Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 April 2025, which are set out on pages 5 to 13.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records; or
3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Simon Bostrom FCIE

9/2/2026

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

Mill Hill Chapel Trust

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 30 April 2025

Notes 2025 Unrestricted funds £ Income from: Donations and legacies (2) 9,651 Investment income 23,036 Hall hire 6,066 Events, activities and services 9,202 Total income 47,955 Expenditure on: Salaries, NIC and pensions (3) 4,064 Travel and subsistence 175 Pulpit supply 818 Organ maintenance 1,203 Caretaker and cleaning 1,435 Utilities 11,184 Insurance 3,225 Computer and peripherals 600 Telephone and postage 381 Literature and publicity 770 Subscriptions and licences 3,284 Artists, musicians, bar staff 3,730 Independent examination 1,008 Food and drink purchases 3,373 Investment management fees 4,025 Building maintenance 5,539 Office and admin costs 607 Equipment and materials 47 Depreciation - Bank charges 3 Charity administration 43,200 Bad debts - Donations 807 Transfer of assets to Mill Hill Chapel CIO 88,836 Total expenditure 178,314 Net gains/(losses) on investments 5,454 Net income / (expenditure) (124,905) Other recognised gains/(losses): Manse loan revaluation 18,836 Net movement in funds (106,069) Fund balances brought forward 448,803 Fund balances carried forward (4) 342,734	2025 Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 43,037 43,037	2025 Total funds £ 9,651 23,036 6,066 9,202 47,955 4,064 175 818 1,203 1,435 11,184 3,225 600 381 770 3,284 3,730 1,008 3,373 4,025 5,539 607 47 - 3 43,200 - 807 88,836 178,314 5,454 (124,905) 18,836 (106,069) 491,840 385,771	2024 Total funds £ 5,397 44,411 7,294 14,927 72,029 47,234 - 280 342 5,767 35,663 3,238 360 1,282 1,314 2,306 16,281 1,008 4,379 3,552 9,800 531 382 6,350 31 28,900 7,508 - - 176,508 8,934 (95,545) - (95,545) 587,385 491,840

All incoming resources and resources expended derive from continuing activities.

Mill Hill Chapel Trust

Balance sheet

as at 30 April 2025 2025 Unrestricted £ Fixed assets Investments (6) 379,266 Loan in respect of Manse Fund (7) - Total fixed assets 379,266 Current assets Debtors and prepayments (8) 1,510 Cash at bank and in hand (9) 3,066 Total current assets 4,576 Current liabilities: amounts falling due within one year Creditors and accruals (10) 2,219 Total current liabilities 2,219 Net current assets / (liabilities) 2,357 Total assets less current liabilities 381,623 Creditors: amounts falling due after one year (11) 38,889 Net assets 342,734 Funds Unrestricted funds 342,734 Restricted funds - Endowment funds - Total funds 342,734	2025 Restricted £ 40,000 - 40,000 - 3,037 3,037 - - 3,037 43,037 - 43,037 - 3,037 40,000 43,037	2025 Total £ 419,266 - 419,266 1,510 6,103 7,613 2,219 2,219 5,394 424,660 38,889 385,771 342,734 3,037 40,000 385,771	2024 Total £ 446,258 70,000 516,258 1,738 20,145 21,883 7,372 7,372 14,511 530,769 38,929 491,840 448,803 3,037 40,000 491,840

The financial statements were approved by the board of trustees on 1/2/2026

Sally Green (Trustee)

Mill Hill Chapel Trust

Notes to the accounts

for the year ended 30 April 2025

1 Accounting policies

Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.

Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants and donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.

Donated goods for resale are valued at the amount actually realised upon their sale.

Donated assets, facilities or services are valued at their estimated value to the charity. This is the price that the charity estimates it would pay in the open market for equivalent items; or services and facilities of equivalent utility to the charity.

Investments

Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.

Loan in respect of Manse Fund

A loan of £70,000 has been made to the Minister to purchase an appropriate residence and it is to be repaid either when he ceases to be employed by Mill Hill Chapel or earlier by agreement with the Trustees.

The loan is a percentage of the purchase value of the property, the repayment will be the same percentage of the selling price.

Since the repayable amount is linked to the property value, the loan is stated in the accounts at fair value (market value in this instance).

Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Taxation

As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

Mill Hill Chapel Trust

Notes to the accounts

for the year ended 30 April 2025

1 Accounting policies continued

Tangible fixed assets

Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:

Project and office equipment: over 3 years

Pensions

The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.

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 trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income unless restrictions have been imposed by the donor. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

Mill Hill Chapel Trust

Notes to the accounts continued for the year ended 30 April 2025

2 Investment income Income from managed investment portfolio Income from car park and walkway 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions Payroll admin fees	2025 Unrestricted funds £ 10,341 12,695 23,036	2025 Restricted funds £ -	2025 Total funds £ 10,341 12,695 23,036 2025 £ 3,715 393 (393) 312 37 4,064	2024 Total funds £ 13,666 30,745 44,411 2024 £ 43,310 4,721 (4,721) 3,780 144 47,234

The average number of employees during the year was 1, being an average of 1 full time equivalent (2024: 1, 1 FTE). There were no employees with emoluments above £60,000.

Defined contribution pension scheme Costs of the scheme to the charity for the year Amount of any contributions outstanding at the year end Amount of any contributions prepaid at the year end 4 Restricted funds Balance b/f Incoming £ £ Hunslet 500 - Dramatic Society 500 - Hinkins Bequest 2,037 - 3,037 -	Outgoing £ - - - -	2025 £ 312 - Transfers £ - - - -	2024 £ 3,780 623 Balance c/f £ 500 500 2,037 3,037

Purpose of restriction

Fund name Purpose of restriction Hunslet Towards activities related to the Hunslet church. Dramatic Society Originally for the dramatic society, however this was disbanded in 2001. The trustees agreed that the funds would be available should it become possible to restart the society in the future. Hinkins Bequest Funds left in a bequest by Brian Hinkins for the maintenance of his father's

Funds left in a bequest by Brian Hinkins for the maintenance of his father's grave in Cottingley Cemetery (Mr Hinkins senior was the minister of Hunslet Chapel, a satellite chapel to Mill Hill).

Mill Hill Chapel Trust

Notes to the accounts continued

for the year ended 30 April 2025

4 Restricted endowment funds Walkway fund	Balance b/f £ 40,000 40,000	Incoming £ - -	Outgoing £ - -	Transfers £ - -	Balance c/f £ 40,000 40,000

Purpose of restriction

Proceeds from the granting of a 999 year lease on 7 August 1998 at peppercorn rent of the walkway at the north side of the chapel to the Nat West Bank. In accordance with the original deed for the sale of Priestly Hall to the Nat West Bank in 1965 any capital receipts could not be expended but any interest earned would be unrestricted, ie for the chapel funds.

5 6	Tangible assets Cost £ £ At 1 May 2024 - - Additions - - At 30 April 2025 - - Depreciation At 1 May 2024 - - Charge for year - - At 30 April 2025 - - Net book value At 30 April 2025 - - At 30 April 2024 - - Fixed assets investments Balance b/f (Disposals) Gain / (loss) on revaluation Income generated (Income transferred out) (Management fees) Total Class 3 Class 4	£ 27,602 - 27,602 27,602 - 27,602 - - Fixtures and fittings	£ 14,953 - 14,953 14,953 - 14,953 - - 2025 Total £ 446,258 (30,000) 5,454 10,341 (8,762) (4,025) 419,266 Office equipment	Total £ 42,555 - 42,555 42,555 - 42,555 - - 2024 Total £ 530,786 (90,000) 8,934 13,702 (13,702) (3,462) 446,258

Mill Hill Chapel Trust

Notes to the accounts continued

for the year ended 30 April 2025

6 Fixed assets investments continued

Breakdown of investments agreeing with SOFA and Balance sheet

Analysis of investments Market value at year end Bonds UK equities Overseas equities Other Cash Total	2025 Total £ 54,769 92,344 253,474 17,567 1,112 419,266	2024 Total £ 62,140 98,618 283,392 - 2,108 446,258

7 Loan in respect of Manse Fund

A loan of £70,000 had been made to the Minister to purchase an appropriate residence and it was to be repaid either when he ceases to be employed by Mill Hill Chapel or earlier by agreement with the Trustees.

The loan was a percentage of the purchase value of the property, the repayment would be the same percentage of the selling price or £70,000 if greater.

During the year the Minister ceased to be employed by the charity and the loan was revalued and redeemed - The loan itself had been transferred to the new CIO during the year. Since the revaluation amount was known, this has been credited to the charity and the subsequent transfer, being shown at fair value of £88,836.

8 Debtors and prepayments Debtors Accrued income Other debtors 9 Cash at bank and in hand Cash at bank Cash in hand 10 Creditors and accruals Overdrawn cash account Creditors Accruals Deferred income: Lease premium control account Other creditors	2025 £ 315 900 295 1,510 2025 £ 5,386 717 6,103 2025 £ 12 650 1,517 40 - 2,219	2024 £ 1,443 - 295 1,738 2024 £ 19,428 717 20,145 2024 £ - 4,174 1,288 40 1,870 7,372

Mill Hill Chapel Trust

Notes to the accounts continued

for the year ended 30 April 2025

11 Creditors: amounts falling due after one year Deferred income: Lease premium control account: Amounts to be released 1 to 5 years Amounts to be released more than 5 years	2025 £ 160 38,729 38,889	2024 £ 160 38,769 38,929

12 Related party transactions

Trustee expenses

No trustee received any expenses during this year or the previous year.

Trustee expenses

During the year 3 trustees were paid a total of £236 in respect of attendance at a conference and travel (previous year: £nil).

Trustee remuneration and benefits

No trustee received any remuneration or benefit during this or the previous year.

Mill Hill Chapel Trust

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 30 April 2025

2025 2024 Unrestricted Unrestricted funds funds £ £ Income Donations and legacies 9,651 5,397 Investment income 23,036 44,411 Hall hire 6,066 7,294 Events, activities and services 9,202 14,927 Total income 47,955 72,029 Expenditure Salaries, NIC and pensions 4,064 47,234 Travel and subsistence 175 - Pulpit supply 818 280 Organ maintenance 1,203 342 Caretaker and cleaning 1,435 5,767 Utilities 11,184 35,663 Insurance 3,225 3,238 Computer and peripherals 600 360 Telephone and postage 381 1,282 Literature and publicity 770 1,314 Subscriptions and licences 3,284 2,306 Artists, musicians, bar staff 3,730 16,281 Independent examination 1,008 1,008 Food and drink purchases 3,373 4,379 Investment management fees 4,025 3,552 Building maintenance 5,539 9,800 Office and admin costs 607 531 Equipment and materials 47 382 Depreciation - 6,350 Bank charges 3 31 Charity administration 43,200 28,900 Bad debts - 7,508 Donations 807 - Transfer to Mill Hill Chapel CIO 88,836 - Total expenditure 178,314 176,508 Net gains/(losses) on investments 5,454 8,934 Net income / (expenditure) (124,905) (95,545) Other recognised gains/(losses): Manse loan revaluation 18,836 - Net movement in funds (106,069) (95,545) Fund balances brought forward 448,803 544,348 Fund balances carried forward 342,734 448,803	2025 Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 43,037 43,037	2024 Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 43,037 43,037	2025 Total funds £ 9,651 23,036 6,066 9,202 47,955 4,064 175 818 1,203 1,435 11,184 3,225 600 381 770 3,284 3,730 1,008 3,373 4,025 5,539 607 47 - 3 43,200 - 807 88,836 178,314 5,454 (124,905) 18,836 (106,069) 491,840 385,771	2024 Total funds £ 5,397 44,411 7,294 14,927 72,029 47,234 - 280 342 5,767 35,663 3,238 360 1,282 1,314 2,306 16,281 1,008 4,379 3,552 9,800 531 382 6,350 31 28,900 7,508 - - 176,508 8,934 (95,545) - (95,545) 587,385 491,840