COMPANY REGISTRATION NUMBER: 3688146 CHARITY REGISTRATION NUMBER: 1091314 South Bristol Church and Community Trust Company Limited by Guarantee Financial Statements 31 March 2025 CHARLTON BAKER BRISTOL LTD Chartered Accountants & statutory auditor 61 Macrae Road, Ham Green, Bristol BS20 ODD
South Bristol Church and Community Trust Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 12 Statement of financial position 13 Notes to the financial statements 14
Page 1 South Bristol Church and Community Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025. Reference and admlnlstratlve details Registered charlty name Soulh Bristol Church and Community Trust Charlty reglstration number 1091314 Company registration number 3688146 Principal office and reglstered The Wilhywood Centre office Queens Road Withywood Bristol BS13 8QA The trustees Richard Eddy Rev Derek Maddox Rev Palrick Stonehewer Ms Catherine Adeniyi Rev Christopher J Dobson Rev Sally Spencer Company secretary Mrs W Russell Audltor Charllon Baker (Bristol) Ltd Chartered Accountants & slatulory auditor 61 Macrae Road, Ham Green, Bristol BS20 ODD Bankers Lloyds TS8 Bishopsworth Knowle Branch Bristol BS4 2PY Solicilors Veale Wasborough Vizards Narrow Quay House Narrow Quay Bristol BS14QA
Page 2 South Bristol Church and Community Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢onllnu&d) Year ended 31 March 2025 Struclure, governance and management The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association. The Company achieved charitable status on 22nd March 2002. The company is limited by guarantee and has no share capital. OBJECTIVES AND PUBLIC BENEFIT The charity's object and principal activity continues to be that of a development trust fund formed to serve the communities of south Bristol. The charity continues to benefit the community by providing a premise from which several agencies provide services which together promote the spiritual, mental and the physical well-being of individuals. The charity provides a fully inclusive pivotal social base within the BS13 area, benefiting all individuals that may otherwise be isolated or lack any other form of social interaction. The trustees confirm that they have referred lo the guidance contained in the Charity Commission's genera1 guidance on public benefit when reviewing the charity's objectives. STRUCTURE AND DECISION MAKING The charity is organised so that the management board Idireclorsltruslees} meet regularly to manage ils affairs. The trustees delegate their responsibilities for the day-lo-day administration of the charity to a Management Board who are employed by SBCCT. RISK REVIEW The trustee actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Iruslees have also examined other operational and business risks faced by Ihe charity and confirm that they have established controls to miligale the significant risks. Objectives and actlvities The Trustees are satisfied wilh the performance of the charity during the year and the position at 31st March 2025 and consider that the charity is in a salisfactory position lo continue ils objectives during the coming year. staffing Management of the Centre continues to fall lo the joint centre managers, alongside a duty manager who takes responsibility for the operation of the centre when required. The latter has taken over responsibilities for Ihe Trust's accounting as the previous book-keeper's fixed-term contract came to its planned end in the summer of 2025. Staffing in the Centre's cafe has continued lo develop with one member of the team having taken on the majorily of the cooking and introduced several new home cooked items lo the menu which have proved very popular. Several local residents are now using the café daily purchasing these home cooked meals to take away. The roles and responsibilities of the maintenance leam were reviewed following the departure of a long-standing member of the team in Summer 2024. The team is now working more flexibly across the whole week, including weekends, and has allowed us to bring our cleaning in-house and both reduce our costs and give more control over the level of cleaning provided. Centre Development We continue to engage the community and the private sector with an aim to maximize Centre usage and promote awareness of the Cenlre. Routine use of the building is near capacity.
Page 3 South Bristol Church and Community Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {contlnued) Year ended 31 March 2025 Objectives and aclivities (continued) Servlces for the Community The Cenlre continues to be a thriving, well established and highly valuable community asset which operates within the overall objectives of the Trust. 11 accommodates a variety of groups that offer a diverse range of activities and services, including groups which promote mental and physical health for a range of ages including those in childhood education. Fundraising The Centre does not currently undertake any fundraising activities with the general public and has nol signed up to the Fundraising Regulator. Resenies policy The Trustees have undertaken a review of the Trust's overall finances, in particular our reserves which are currently below the agreed level. We are taking steps towards applying for grant funding and expect to do this in the next few months. As previously reported, the Centre does not currently undertake any fundraising activities with the general public and has not signed up lo the Fundraising Regulator. Flnanclal revlew The nel outgoing resources for the period were £66,284 {2024.' £27,979) resulting in accumulated funds carried foNard of £3,297,376 {2024.. £3,363,660>. of which £287,758 {2024- £294,580) are unrestricted funds. The unrestricted funds are considered to represent the free reserves at the year end and al current activity levels represent approximately 7.5 months of staffing and operating costs. This level of funds falls within the parameters set by the trustees in the Reserves Policy (see below) and they will aim to maintain uncommilled reserves at the level sel by Ihe policy going foard. Plans for future periods A key focus for The Trust during 2025-26 is to work towards a sustainable financial plan, including re-building the Trust's reserves to the agreed level. To this end, the Trustees and Management Team have already engaged with external expertise lo look at this, including exploring options for external grant funding. In parallel, we also intend to establish a plan for routine replacements and refurbishments, as the building nears twenty years old. Two immediate priorities are the cenlre's garden and car park. It is intended that some of this will be undertaken in-house, following recent changes in our maintenance staffing.
Page 4 South Bristol Church and Community Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2025 Trustees, responsibilities statement The Irustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the stale of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consislenlly; observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records Ihal are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a trustee at the date of approval of this report confirms that: so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware., and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and lo establish that the charity's auditor is aware of that information. The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2008. Small company provisions This report has been prepared in accordance with the provisions applicable lo companies entitled to the small companies exemption.
Page 5 South Bristol Church and Community Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 The trustees, annual report was approved on 18 November 2025 and signed on behalf of the board of trustees by: ichard Trustee Rev Patrick Slonehewer Trustee
Page 6 South Bristol Church and Community Trust Company Limited by Guarantee Independent Auditor's Report to the Members of South Bristol Church and Community Trust Year ended 31 March 2025 Opinion We have audited the financial statements of South Bristol Church and Community Trust (the 'charity') for the year ended 31 March 2025 which comprise the statemenl of financial aclivilies {including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework thal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements- give a true and fair view of the slate of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs {UK)} and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of Ihe financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significanl doubl on the charity's ability to continue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Iruslees with respect lo going concern are described in the relevant sections of this report.
Page 7 South Bristol Church and Community Trust Company Limited by Guarantee Independent Auditor's Report to the Members of South Bristol Church and Community Trust (conllnued) Year ended 31 March 2025 Other informatlon The other information comprises the information included in the annual report, other than the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extant olhemise explicitly stated in our report, 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 whether the other information is materially 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 misstatements, we are required lo determine whether there is a material misslatemenl in the financial statements or a material misslalement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nolhing to report in this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial stalemenls., and the trustees, report has been prepared in accordance with applicable legal requirements, Matters on whlch we are requlred lo report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing lo report in rgspect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are nol made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report.
Page 8 South Bristol Church and Community Trust Company Limited by Guarantee Independent Auditor's Report to the Members of South Bristol Church and Community Trust {¢onl/nuodJ Year ended 31 March 2025 Responslbilities of truslees As explained more fully in the trustees, responsibilities statement, the Iruslees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misslalemenl, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realislic allernalive but lo do so. Audltor's responslbllltles for the audSt of Ihe flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misslatemenl 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 economic decisions of users taken on Ihe 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 misstalemenls in respect of irregularities, including fraud. The exlenl to which our procedures are capable of delecling irregularities, including fraud is detailed below..
Page 9 South Bristol Church and Community Trust Company Limited by Guarantee Independent Auditor's Report to the Members of South Bristol Church and Community Trust (conllnued) Year ended 31 March 2025 Key audit matters.our assessment of risks of material misstatement Key audit Matters are those matters that in our professional judgement were of most significance in the audit of the financial slatemenls and include the most significant assessed risks of material misstatement (whether or not due lo fraud) identified by us, including those which had the grealesl effect on.. the allocation of resources in the audit, and directing the efforts of the engagement team. There are no key areas identified as the audit is very low risk with normal audit procedures adequate in all audit areas. We agreed to report to the board of trustees any corrected or uncorrected identified misstatements. Fraud and breaches of laws and regulatlons - ablllty to detect Identlfying and reporting of rlsks of material misstatement due to fraud To identify risks of material misslatement due to fraud we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity lo commit fraud. Our risk assessment procedures included.. Enquiring of finance manager and trustees and inspection of key papers provided to Ihose charged with governance as to high level policies and procedures lo prevent and detect fraud Reading board minutes We communicated identified fraud risks throughout the audit leam and remained alert lo any indications of fraud throughout the audil. As required by auditing slandards, and taking into account possible pressures to meet targets and our overall knowledge of the control environment, we perform procedures to address the risks of management override of controls. To address the pervasive risk as it relates lo management override, we identified journal entries to tesl to supporting documentation. Identifying and responding to rlsks of malerial misstatement due to non.compliance with laws and regulations We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the general manager and trustees. As the charity is regulated, our assessment of risks involved gaining an understanding of the control environment including the enlily's procedures for complying with regulatory requirements. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effecl of these laws and regulations on the financial statements varies considerably. Firstly, the charity is subject to laws and regulations Ihat directly affect the financial statements including f inancial reporting regulation (including related companies, regulation}, taxation legislation {payroll taxes) and pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial slatemenls items.
Page 10 South Bristol Church and Community Trust Company Limited by Guarantee Independent Auditor's Report to the Members of South Bristol Church and Community Trust (¢ontlnuod) Year ended 31 March 2025 Secondly, the charily is subject lo many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such as effect- Health and safety laws. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of management and trustees and inspeclion of regulatory and legal correspondence, if any. Therefore, if any breach of operational regLilalions is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. Conlext of the abilily of the audit to delect fraud or breaches of law or regulation Owing to the inherent limitation of an audit, there is an unavoidable risk that we may not have detected some material misslatemenls in the financial stalements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In additions, as with any audit, there remained a higher risk of non-deteclion of fraud, as these may involve Collusion, forgery, intentional omissions, misrepresenlalions, or the override of internal controls. Our audit procedures are designed to delect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected lo detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional sceplicism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misslalemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audil procedures that are appropriate in the circumstances, bul nol for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting eslimates and related disclosures made by the trustees. Conclude on the appropriateness of Ihe trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainly exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainly exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date of our auditor's report. However, future events or conditions may cause Ihe charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Page 11 South Bristol Church and Community Trust Company Limited by Guarantee Independent Auditor's Report to the Members of South Bristol Church and Community Trust {¢ontlnu&d) Year ended 31 March 2025 We communicate wilh those charged wilh governance regarding, among olher matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audil. Use of our report This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charity's members those matters we are required lo slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other Ihan the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Paul Cridland Bsc FCA (Senior Statutory Auditor) Charlton 8aker (Bristol) Ltd Chartered Accounlanls & statutory auditor 61 Macrae Road, Ham Green, Bristol BS20 ODD 18 November 2025
Page 12 South Bristol Church and Community Trust Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Reslricled funds Total funds 2024 Unrestricted funds Total funds Note Income and endowments Charitable activities Investment income 470,453 6,272 470,453 6,272 452,823 6,408 Total income 476,725 476,725 459,231 Expenditure Expenditure on charitable activities Total expenditure 470,201 64,970 535,171 504,430 470,201 64,970 535,171 504,430 Nel {lossesllgains on investments {7,838) 17,838) 17,220 Net expenditure (1,314> (64,970) (66,284) (27,979) Transfers between funds {5,5081 5,508 Net movement In funds (6,822) (59,462) (66,284) (27,979) Reconciliation of funds Total funds brought forward Total funds carrled forward 294,580 3,069,080 3,363,660 3,391,639 287,758 3,009,618 3,297,376 3,363,660 The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 14 to 24 form part of these financial statements.
Page 13 South Bristol Church and Community Trust Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Flxed assets Tangible fixed assets Investments 13 3,006,264 14 174,155 3.065,726 181,993 3,180,419 3,247,719 Current assets Stocks Debtors Cash at bank and in hand 15 16 2,063 98,068 57,582 1.622 126,948 35,944 157,713 164,514 Credllors: amounts falling due within one year Net Current assets 17 40,756 48,573 116,957 115,941 Total assets less current Ilabllltles 3,297,376 3,297,376 3,363,660 Net assets 3,363,660 Funds of the charlty Restricted funds Unrestricted funds 3,009,618 287,758 3,069,080 294,580 Total charity funds 19 3,297,376 3.363,660 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 18 November 2025, and are signed on behalf of the board by: Richard Eddy Trustee Rev Patrick Slonehewer Trustee The notes on pages 14 to 24 form part of these financial statements.
Page 14 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General informatlon The charity is a public benefit entily and a private company limited by guarantee, registered in England and Wales and a registered charily in England and Wales. The address of the registered office is The Withywood Cenlre, Queens Road, Wilhywood, Bristol, BS13 8QA. Statement of compliane& These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statemenl of Recommended Practice applicable lo charities proparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial slalements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow slalement on the grounds that it is applying FRS 102 Section 1A. Judgements and key sources of estimatlon uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimales and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. We can confirm that there are no critical judgemenls or eslifflales to note.
Page 15 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (Continued) Fund accounting Unrestrlcted Income funds These are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Restricled Income funds Incoming resources in the form of grants and project income are Irealed as restricted on the basis that they have been received for specific purposes as laid down by the donor. Expenditure that meets these criteria is identified to the fund, together wilh a fair allocation of salaries and overhead costs. Where projects are subslanlially funded from reslricted income, any surplus funding will be carried forward as a reslricted fund. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charily and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of enlillemenl to the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and enlillement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost to the donor or Ihe estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unreslricled funds unless there is a contractual requirement for it lo be spent on a particular purpose and returned if unspenl, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals 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. Costs of generating furnds comprise the costs associated with attracting voluntary income. Charilable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for ils beneficiaries. It includes both costs that can be allocated directly to such aclivilies and those costs of an indirect nature to support them.
Page 16 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements (¢ontlnued) Year ended 31 March 2025 Accounting policies (continued) Tangible assets All fixed assets are initially recorded al cost. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less ils residual value, over the useful economic life of that asset as follows: Leasehold Property Fixtures & Fittings Equipment Over the remaining life of the lease Straight line over 10 years Straight line over 4 10 5 years Investments Unlisted equity investments are initially recorded al cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting dale. Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items, on a FIFO basis. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party lo the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised al the present value of the future payments discounled at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.
Page 17 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (continued) Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seNice is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead lo a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of Ihe discount is recognised as an expense in the period in which it arises. Llmlted by guarantee The company is limited by guarantee. In the event of a winding up, each trustee is limited lo pay £1 each. As al 31 March 2025 the number of Iruslees was 612024.. 61. Charllable actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Rent & rechargeables SeNice charge Room hire Cafe & catering Other income 64,788 266,588 51,683 76,730 10,664 64,788 266,588 51,683 76,730 10,664 65,897 246,723 57,076 75,972 7,155 65,897 246,723 57,076 75,972 7,155 470,453 470,453 452,823 452,823 Investment Income Unrestricted Funds Restricted Total Funds Funds 2025 Income from listed investments Bank interest receivable 5,829 443 5,829 443 6.272 6,272 Unrestricted Funds Reslricled Total Funds Funds 2024 Income from listed investments Bank interest receivable 5,498 5,498 910 910 5,498 910 6,408
Page 18 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements {continued) Year ended 31 March 2025 Expenditure on charitable activilies by fund type Unreslricled Funds Reslricled Total Funds Funds 2025 Staff costs Premises costs Office costs Repairs and Maintenance Other costs Café expenses Rechargeables Professional fees Finance costs & Charges Depreciation 189,710 110,830 11,269 50,964 1,757 91,362 4,876 8,152 1,281 189,710 110,830 11,269 50,964 1,757 94,106 4,876 8,152 1,281 62,226 2,744 62,226 470,201 64,970 535,171 Unrestricted Funds Reslricled Total Funds Funds 2024 Staff Costs Premises costs Office costs Repairs and Maintenance Other costs Café expenses Rechargeables Professional fees Finance costs & Charges Depreciation 170,422 109,189 10,316 39,459 1,547 90,009 4,859 12,452 1,204 170,422 109,189 10,316 39,459 1,547 92,572 4,859 12,452 1,204 62,410 2.563 62,410 439,457 64,973 504,430 Expenditure on charltable actlvltles by actlvity type Activities undertaken Total funds directly 2025 Total fund 2024 Staff costs Premises costs Office costs Repairs and Maintenance Other costs Café expenses Rechargeables Professional fees Finance costs & Charges Depreciation 189,710 110,830 11,269 50,964 1,757 94,106 4,878 8,152 1,281 62,226 189,710 110,830 11,269 50,964 1,757 94,106 4,876 8,152 1,281 62,226 170,422 109,189 10,316 39,459 1,547 92,572 4,859 12,452 1,204 62,410 535,171 535,171 504,430 In the opinion of the trustees the charily only undertakes one activity which is Ihat of providing a community centre in the Wilhywood area of South Bristol.
Page 19 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Included in professional fees are amounts payable to the auditor analysed as follows: 2025 2024 Statutory audit Other services 3,000 3,000 3,000 2,985 6,000 5,985 Net (losses)Igalns on Investments Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Gainsl{losses) on listed investmenls (7,838} (7,838) 17,220 17,220 10. Net expendlturo Net expenditure is stated after chargingl(crediting)'. 2025 2024 Depreciation of tangible fixed assets 64,970 64,972 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 225,415 13,550 4,328 206,910 11,690 3,998 243,293 222,598 The average head count of employees during the year was 912024.. 9}. The average number of full-lime equivalent employees during the year is analysed as follows. 2025 2024 No. Management & administrative staff Project staff
Page 20 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements (¢ontlnuedJ Year ended 31 March 2025 11. Staff costs (Gontinued) No employee received employee benefits of more than £60,000 during the year12024'. Nill. Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £112,486 (2024.. £70,205). 12. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the Iruslees. No payments were made during the year in respect of trustees, expenses. 13. Tangible fixed assets Land and Fixlures and buildings fillings Equipment Total Cost At 1 April 2024 Additions 4,761,341 227,828 433,122 5,508 5,422,291 5,508 At 31 March 2025 4,761,341 227,828 438,630 5,427,799 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 1,900,326 28,585 138,267 12,345 317,972 24,040 2,356,565 64,970 1,928,911 150,612 342,012 2,421,535 Carrying amount At 31 March 2025 2,832,430 77,216 96,618 3,006,264 Al 31 March 2024 2,861,015 89,561 115,150 3,065,726
Page 21 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements {continued) Year ended 31 March 2025 14. Investments Llsted investments Cost or valuatlon At 1 April 2024 Additions Fair value movements 181,993 (7,838) 174,155 At 31 March 2025 Impairment Al 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 174,155 At 31 March 2024 181.993 All investments shown above are held al valuation. Financlal assets held at falr value The fair value of listed investments is determined by reference to the quoted price for identical assels in an active market at the balance sheet date. Inveslments al fair value compromises of securities. 15. Stocks 2025 2024 Raw materials and consumables 2,063 1,622 16. Debtors 2025 2024 Trade debtors Prepayments and accrued income 4,107 93,961 7,435 119,513 98,068 126,948 17. Credltors: amounls falling due within one year 2025 2024 Trade creditors Accruals and deferred income Social securily and other taxes Other creditors payments received on account Other creditors 12,816 11,641 3,996 13,436 16,981 4,519 1,495 12,142 12,303 40,756 48,573
Page 22 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 18. Pensions and other post-retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,328 {2024: £3,998). 19. Analysls of charltable funds Unrestrlcted funds At Gains and 31 Mar 202 losses At 1 Apr 2024 Income Expenditure Transfers General funds 294,580 476,725 {470,2011 {5,5081 {7,838) 287,758 At Gains and 31 Mar 202 losses At 1 Apr 2023 Incomo Expenditure Transfers General funds 306,576 458,321 (439,457) {48,080) 17,220 294,580 Restrlcled funds At Gains and 31 Mar 202 losses At 1 Apr 2024 Income Expenditure Transfers Capital Build Project Capital Repairs Steering Group 3,065,726 (64,970) 5,508 3,006,264 3,354 3,354 3,069,080 (64,970) 5,508 3,009,618 At Gains and 31 Mar 202 losses At 1 Apr 2023 Income Expenditure Transfers Capital Build Project Capital Repairs Steering Group 3,030,861 50,848 3,354 (64,9731 99,838 (51,758) 3,065,726 910 3,354 3,085,063 910 164,9731 48,080 3,069,080
Page 23 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 19. Analysls of charitable funds (contlnuedj Transfers The transfer from the Capital Repairs fund lo the Capital Build Project fund was the purchase of a number of fixed assets during the period. Capital Build Project This represents the net book value of thg building, fixtures and filtings and all capital equipment within the centre as at 31 March 2025. Capital Repalrs This is the balance of the Capital Build funds which is held within high interest deposit accounts and is used for capital equipment purchase and replacemenl. Steering Group This fund represents funds raised through activities of the steering group less any costs incurred and is lo be used for the benefit of the Withywood Centre. 20. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Inveslments Current assets Creditors less than 1 year Net assets 3,006,264 3,006,264 174,155 157,713 140,756) 3,297,376 174,155 154,359 (40,756) 287,758 3,354 3,009,618 Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 3,065,726 3,065,726 181,993 164,514 (48,573) 3,363,660 181,993 161,160 (48,573) 294,580 3.354 3,069,080 21. Financial instruments The carrying amount for each category of financial instrument is as follows: 2025 2024 Financial assets measured at fair value through income and expenditure Listed investments 174,155 181,993 The net losses atlribulable to the charity's financial assets measured at fair value through net expenditure was £7,838 (2024 - gains £17,220>.
Page 24 South Bristol Church and Community Trust Company Limited by Guarantee Notes to the Financial Statements (continuèd) Year ended 31 March 2025 22. Operating lease commitments As lessor The total future minimum lease payments receivable under non-cancellable operating leases are as follows.. 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years 50,582 352,000 13,574 6,172 402,582 19,746 23. Relaled parties Wilhywood Church is a foundational element of South Bristol Church and Community Cenlre. The church is ecumenical, with one minister from the Church of England and a second from the Methodist Church. Both ministers sil on the Trustee Body by virtue of their position and declared a conflict of interest when dealing with the proposal lo waive the church's contribution to the service fees for 2024-25 of £17,963 (2023-24.. £15,646). This proposal was made by the management team, then discussed and agreed solely by the remaining Trustees. These include representatives of the Diocese of Bristol (Church of England), the Bristol & South Gloucestershire Circuit {Melhodisl Church), and a local councillor. The decision to waive the fees was based on the financial position of Wilhywood Church, which meant that it was not in a position to make the payment and would have become insolvent had the payment been made. The opportunity for the church to raise its own funds is restricted because of its position within the Centre which significantly limits income Ihrough property lettings, a typical source of income for other churches. Without the church's foundational involvement, the Trust would be at significant risk of folding, so Ihe Trustees agreed that the service charge should be waived. The Diocese and Circuit continue to review the financial sel up for Withywood Church, lo consider how to resolve this matter in the longer term.