Company registration number: 04096669 Charity registration number: 1089019
Big House Trust
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2021
David Dixie F C A Dixie Associates 167 Black Haynes Road Selly Oak Birmingham B29 4RE
Big House Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
Big House Trust
Reference and Administrative Details Trustees Rev Barry Clark, Chair Revd P A White, Secretary Ms A Nicholas MBE Mr C R Wilcock Ms S Edwards Other Officers Mr C T Bourne, Manager Mr P Murray, Residential Support Worker Principal Office 150 Court Oak Road Harborne Birmingham B17 9AB Registered Office 150 Court Oak Road Harborne Birmingham B17 9AB Company Registration Number 04096669 Charity Registration Number 1089019 Solicitors Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES Bankers Santander 301 St Vincent Street Glasgow G2 5NT Independent Examiner David Dixie F C A Dixie Associates 167 Black Haynes Road Selly Oak Birmingham B29 4RE
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Big House Trust
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2021.
Objectives and activities
Objects of the charity
The charity is a charitable company limited by guarantee. Its objectives are to provide, for the benefit of the community and as a demonstration of the gospel of Jesus Christ, housing and associated services for people in need, hardship, distress or any other charitable circumstances, to promote the mental, moral, spiritual and physical development of the residents of the houses owned by the company. During the year the charity managed Court Oak House, which provided housing for people in need. The charity is managed by the Trustees, who delegate day to day running to a live-in support worker and a House Manager.
Review of activities
The house has been managed in accordance with best practice with the assistance of Accord. The future of the property is secure as Accord are now managing the lease. It is worth noting that Accord have now amalgamated with Green Square Housing Association of Oxford and the new organisation is called Green Square Accord Housing Association. To strengthen our management and financial probity our house manager who was appointed in 2017 continues to work two days per week alongside our live-in support worker. Due to Covid 19 we have been unable to hold any group activities for over 12 months and have introduced various hygiene facilities within the house to minimise risk. The trustees and Manager meet via Zoom regularly to review the management of the house and the organisation of the charity. Looking to the future we are currently in the process of amalgamating with another charity with similar goals, Pan Asia Community Housing. we have appointed solicitors to guide us through the process and the new charity will be called Spring board Housing Trust.
Trustees
The trustees who have served during the year are unchanged and shown on page 1. None of the trustees has any beneficial interest in the company except Mr C.Wilcock whose wife acts as book-keeper and received a fee of £120 in the year (2020 - £120). All trustees are members of the company and each guarantees to contribute £1 in the event of a winding up.
Review of financial position
The charity receives no funding other than rent from residents and small donations. We continue to review our income and expenditure streams, and our current reserve represents the costs of running the charity for in excess of seven months, which the trustees consider adequate for the activities undertaken and the commitment to resident’s needs. Discussions took place during 2019 concerning the future of the charity and the decision was made to amalgamate with another local charity with similar aims and objectives. The process of amalgamation is now in the hands of our appointed solicitors.
Public benefit
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
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Big House Trust
Trustees' Report
The annual report was approved by the trustees of the charity on 23 June 2021 and signed on its behalf by:
......................................... Rev Barry Clark Trustee
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Big House Trust
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Big House Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 23 June 2021 and signed on its behalf by:
......................................... Rev Barry Clark Trustee
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Big House Trust
Independent Examiner's Report to the trustees of Big House Trust
I report on the accounts of the charity for the year ended 31 March 2021 which are set out on pages 6 to 14 .
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 consideration 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 no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...................................... David Dixie F C A
Dixie Associates 167 Black Haynes Road Selly Oak Birmingham B29 4RE
10 May 2021
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Big House Trust
Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Total Income Expenditure on: Charitable activities 6 Total Expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Total Income Expenditure on: Charitable activities 6 Total Expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 14 |
Unrestricted funds £ 244 66,890 51 67,185 (73,572) (73,572) (6,387) (6,387) 49,872 43,485 Unrestricted funds £ 295 66,472 130 66,897 (68,965) (68,965) (2,068) (2,068) 45,940 43,872 |
Total 2021 £ 244 66,890 51 |
|---|---|---|
| 67,185 | ||
| (73,572) | ||
| (73,572) | ||
| (6,387) | ||
| (6,387) 49,872 |
||
| 43,485 | ||
| Total 2020 £ 295 66,472 130 |
||
| 66,897 | ||
| (68,965) | ||
| (68,965) | ||
| (2,068) | ||
| (2,068) 45,940 |
||
| 43,872 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 14.
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Big House Trust
(Registration number: 04096669) Balance Sheet as at 31 March 2021
| Note Current assets Debtors 12 Cash at bank and in hand Creditors: Amounts falling due within one year 13 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 14 |
2021 £ 196 47,094 47,290 (3,805) 43,485 43,485 43,485 |
2020 £ 5,658 45,297 |
|---|---|---|
| 50,955 (1,083) |
||
| 49,872 | ||
| 49,872 | ||
| 49,872 |
For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 23 June 2021 and signed on their behalf by:
......................................... Rev Barry Clark Trustee
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Big House Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Charity status
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Big House Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
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Big House Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
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.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Research and development
Research and development expenditure is written off as incurred.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Big House Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
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Big House Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
3 Income from donations and legacies
| Donations and legacies; Donations from individuals 4 Income from other trading activities Property rental income 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 244 244 Unrestricted funds General £ 66,890 66,890 Unrestricted funds General £ 51 |
Total 2021 £ 244 244 Total 2021 £ 66,890 66,890 Total 2021 £ 51 |
Total 2020 £ 295 |
|---|---|---|---|
| 295 | |||
| Total 2020 £ 66,472 |
|||
| 66,472 | |||
| Total 2020 £ 130 |
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Big House Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
6 Expenditure on charitable activities
| Note Rent Rates Light, heat and power Repairs and renewals Cleaning Insurance Printing, post and stationery Telephone and internet Accountancy fees Social activities, travel Management fees Staff costs Governance costs 7 |
Unrestricted funds General £ 38,551 2,096 5,780 1,286 - 405 693 840 120 158 9,996 9,600 4,047 73,572 |
Total 2021 £ 38,551 2,096 5,780 1,286 - 405 693 840 120 158 9,996 9,600 4,047 73,572 |
Total 2020 £ 37,556 2,037 5,185 1,098 291 568 469 840 120 592 9,996 9,600 613 |
|---|---|---|---|
| 68,965 |
7 Analysis of governance and support costs
Governance costs
| Independent examiner fees Examination of the financial statements Legal fees |
Unrestricted funds General £ 600 3,447 4,047 |
Total 2021 £ 600 3,447 4,047 |
Total 2020 £ 600 13 |
|---|---|---|---|
| 613 |
8 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Mr C R Wilcock
Mr Wilcock's wife received £120 (2020 - £120) for acting as book-keeperl.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
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Big House Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
9 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries No employee received emoluments of more than £60,000 during the year. 10 Independent examiner's remuneration Examination of the financial statements |
2021 £ 9,600 2021 £ 600 |
2020 £ 9,600 |
|---|---|---|
| 2020 £ 600 |
11 Taxation
The charity is a registered charity and is therefore exempt from taxation.
12 Debtors
| Trade debtors Prepayments 13 Creditors: amounts falling due within one year Other taxation and social security Accruals |
2021 £ - 196 196 2021 £ 538 3,267 3,805 |
2020 £ 5,658 - |
|---|---|---|
| 5,658 | ||
| 2020 £ 536 547 |
||
| 1,083 |
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Big House Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
14 Funds
| 14 Funds | |||
|---|---|---|---|
| Unrestricted funds General Unrestricted funds General Designated Total funds |
Balance at 1 April 2020 £ Incoming resources £ Resources expended £ Balance at 31 March 2021 £ (49,872) (67,185) 73,572 (43,485) Balance at 1 April 2019 £ Incoming resources £ Resources expended £ Transfers £ Balance at 31 March 2020 £ (45,940) (66,897) 68,965 (6,000) (49,872) (6,000) - - 6,000 - (51,940) (66,897) 68,965 - (49,872) |
Balance at 31 March 2021 £ (43,485) |
|
| Balance at 31 March 2020 £ (49,872) - |
|||
| (49,872) |
15 Analysis of net assets between funds
| Current assets Current liabilities Total net assets 16 Analysis of net funds At 1 April 2020 £ Cash at bank and in hand 45,297 Net debt 45,297 |
Unrestricted funds General £ 47,290 (3,805) 43,485 Cash flow £ 1,797 1,797 |
Total funds £ 47,290 (3,805) |
|
|---|---|---|---|
| 43,485 | |||
| At 31 March 2021 £ 47,094 |
|||
| 47,094 |
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