THE RIMSHOT CHARITABLE TRUST Charity Number: 1087073
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
THE RIMSHOT CHARITABLE TRUST
CONTENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees Annual Report | 2 - 3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the financial statements | 7 - 9 |
THE RIMSHOT CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 28 FEBRUARY 2025
| Charity number | 1087073 |
|---|---|
| Registered office | Wood End Farm |
| London Road | |
| Witham | |
| CM8 1EH | |
| Trustees | Julia Rees |
| Neil Loxley | |
| Grant Smith | |
| Andrew Wood (resigned 22/6/23) | |
| Independent examiners | Community360 |
| Winsleys House | |
| High Street | |
| Colchester | |
| Essex | |
| CO1 1UG | |
| Bankers | Lloyds TSB |
| 3 King Street | |
| Saffron Walden | |
| Essex | |
| CB10 1HF | |
| Solicitors | Birketts llp |
| Paston House | |
| 11-13 Princes Street | |
| Norwich | |
| NR3 1AZ |
1
THE RIMSHOT CHARITABLE TRUST
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
The Rimshot charitable trust has continued to realise its objectives by developing the following projects.
Josephs Barn
Income from the let offices accrues in the ‘Admin’ account, where service costs and other repairs and expenses are administered. Once expenses have been deducted the barn income, makes gifts to Christian charitable organisation both in the UK and overseas. Now all tenants in the barn are charitable organisations and are charged 50% rent. This equates to £102,000 in the period
The barn was extended in 2023. The occupants of the extension are a special needs primary school, providing provision for 16 children on a one to one basis. The rent of the school is discounted 50% to facilitate quality education and attendance for the children.
Worldwide
During the year gifts were made to various organisations seeking to bring help and hope to situations around the globe. Grant, our trustee, continues his development work in Kenya, visiting every three months to oversee operations and the many projects sponsored by the charity Hand in Hand.
Reserves policy.
The reserves of the trust are maintained at a level which will support the continued activities of the trust. We have agreed that we should retain a reserve of £10,000 for any out of the ordinary expenses. Nobody is employed by the trust so there are no staff costs.
Administration
We are grateful to Sue Nurcombe who gives her skills freely for the collation and presentation of the ‘Admin Accounts’ to detail income and expenditure relating to the letting of facilities in the barn in lieu of a gift to Hand in Hand Charity
Repayment of electricity is metered and charged to the individual tenants.
Social Investments
RCT have two social investments, that generate small returns but have been invested in order to create impact amongst the homeless.
The trustees met formally on three occasions during the year.
- The Trustees Sept 2025
2
THE RIMSHOT CHARITABLE TRUST
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
Summary of Trust Objectives
-
1 To promote and advance the Christian faith
-
2 To provide practical help and encouragement especially for the less privileged in society
-
3 To provide resources for individuals and organisations involved in demonstrating, promoting and advancing the Christian faith
This report has been approved by the trustees and signed on their by:
Signed Grant Smith
Date: 2nd October 2025
3
THE RIMSHOT CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
I report on the accounts of Rimshot charitable trust for the year ended 28th February 2025 which are set out on pages 5 to 9.
Respective responsibilities of trustees and examiner
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts under section 145 of the Charities Act,
-
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and
-
To state whether particular matters have come to my attention.
Basis of independent examiner’s Statement
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of the 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 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.
David Courtier FMAAT AATQB for and on behalf of:
Community360 Winsley’s House, High Street, Colchester, Essex
Date 10th October 2025
4
THE RIMSHOT CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2025
| Notes Incoming resources Donations & legacies 2 Income from charitable activities 3 Total incoming resources Resources expended Charitable activities 4 Total resources expended Net income/(expense) Balances brought forward at 1st March 2024 Balances carried forward at 28th February 2025 |
Unrestricted funds £ - 126,976 126,976 145,790 145,790 (18,814) 1,141,524 1,122,710 |
2025 Total £ - 126,976 126,976 145,790 145,790 (18,814) 1,141,524 1,122,710 |
2024 Total £ - 86,676 |
|---|---|---|---|
| 86,676 124,264 |
|||
| 124,264 | |||
| (37,588) 1,179,112 |
|||
| 1,141,524 |
The notes on pages 7 - 9 form an integral part of these financial statements.
5
THE RIMSHOT CHARITABLE TRUST
BALANCE SHEET AS AT 28 FEBRUARY 2025
| Notes Fixed assets Tangible assets 7 Social investment assets Current assets Debtors 8 Cash at bank and in hand Creditors: Accounts falling due within one year 9 Net current assets Total assets less current liabilities Long term liabilities Trustee loan Net assets Financed by Unrestricted funds |
£ £ £ £ 887,674 886,811 250,000 250,000 1,137,674 1,136,811 - - 51,898 71,919 51,898 71,919 306 650 51,592 71,269 1,189,266 1,208,080 66,556 66,556 1,122,710 1,141,524 1,122,710 1,141,524 1,122,710 1,141,524 2024 2025 |
£ £ £ £ 887,674 886,811 250,000 250,000 1,137,674 1,136,811 - - 51,898 71,919 51,898 71,919 306 650 51,592 71,269 1,189,266 1,208,080 66,556 66,556 1,122,710 1,141,524 1,122,710 1,141,524 1,122,710 1,141,524 2024 2025 |
|---|---|---|
| 1,136,811 71,269 |
||
| 51,898 306 |
||
| 1,208,080 66,556 |
||
| 1,141,524 | ||
| 1,141,524 | ||
| 1,141,524 |
The trustees declare that they have approved the accounts above.
Signed Date Neil Loxley
6
THE RIMSHOT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1 Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1 Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on Recommended Practise applicable to 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)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in theUK and Republic of Ireland (FRS 102) and the Companies Act 2006.
1.2 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received either by way of grants, donations and gifts or as contractual income in payment for services and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Income from investments is included in the year in which it is receivable.
1.3 Resources expended
Expenditure is recognised on a accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected life. As follows:
| expected life. As follows: | |
|---|---|
| Bulding Improvements | 2% Straight Line |
| Building Development | 4% Straight Line |
| Equipment | 25% Straight Line |
1.5 Going Concern
The trustees of the charity deem that there are sufficient funds available to continue operating on a going concern basis for the forseeable future
7
THE RIMSHOT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
| 2 Donations & legacies Unrestricted Total 2025 2025 £ £ Donations - - - - 3 Income from charitable activities Unrestricted Total 2025 2025 £ £ Rental income 126,976 126,976 126,976 126,976 4 Expenditure from charitable activities Unrestricted Total 2025 2025 £ £ Management fees 24,830 24,830 Consumables - - Equipment 195 195 Lease rates & insurance 4,795 4,795 Repairs & maintenance 25,920 25,920 Heat & light 12,476 12,476 Gifts and grants 23,500 23,500 Cleaning 8,896 8,896 Professional fees 306 306 Other 8,103 8,103 Depreciation 36,769 36,769 145,790 145,790 Professional fees include the indpendent examination fee of £340 (2024: £340) 5 Staff costs 2025 Average number of staff employed 0 |
Total 2024 £ - |
|---|---|
| - | |
| Total 2024 £ 86,676 |
|
| 86,676 | |
| Total 2024 £ 22,979 592 619 204 22,383 8,172 24,500 6,249 340 1,947 36,279 |
|
| 124,264 | |
| 2024 | |
| 0 |
8
THE RIMSHOT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
6 Related parties
| Related party transaction during the year are as follows: Management fees paid to HiHG of which Grant Smith is a Director Donations paid to Hand in Hand Charity Donations paid to Kingsland Church of which Neil Loxley is a Minister Professional fees paid to HiHG of which Grant Smith is a Director |
2025 £ 24,830 17,500 3,000 2,551 |
|---|---|
| 47,881 |
| 7 Tangible fixed assets Cost Balance at 1st March 2024 Additions Balance at 28th February 2025 Accumulated Depreciation Balance at 1st March 2024 Depreciation Balance at 28th February 2025 Net book value: Balance at 28th February 2025 Balance at 28th February 2024 |
Building Improvements £ 546,209 37,631 583,840 10,924 11,677 22,601 561,239 535,285 |
Building Development £ 627,289 - 627,289 275,763 25,092 300,855 326,434 351,526 |
Equipment £ 7,464 - 7,464 7,464 - 7,464 - - |
Total £ 1,180,962 37,631 |
|---|---|---|---|---|
| 1,218,593 | ||||
| 294,151 36,768 |
||||
| 330,919 | ||||
| 887,674 | ||||
| 886,811 |
| Balance at 28th February 2024 535,285 351,526 - |
Balance at 28th February 2024 535,285 351,526 - |
886,811 | |
|---|---|---|---|
| The building is leased for a 25 year period beginning in 2013. As such it is depreciated | evenly over | ||
| the 25 years. | |||
| **8 ** | Debtors | 2025 | 2024 |
| Total | Total | ||
| £ | £ | ||
| Loans | - | - | |
| - | - | ||
| **9 ** | Creditors: amounts falling due | ||
| within one year | 2025 | 2024 | |
| Total | Total | ||
| £ | £ | ||
| Accruals | 306 | 650 | |
| 306 | 650 |
9