A & M TRUST ( A company Limited by Guarantee) Report and Financial Statements Year ending 31 December 2021 Charity number : 1105023 Company number : 5167429 



## CONTENTS 

||Page|
|---|---|
|Report of the trustees and|2-4|
|directors||
|Report of the Independent|5-6|
|Examiner||
|Statement of Financial Activities|7|
|(SOFA)||
|Balance Sheet|8|
|Notes forming part of the financial|9-11|
|statements||





## **A & M TRUST TRUSTEES’ REPORT** 

**(incorporating the Directors’ Report for the 12 months ended 31/12/21)** 

## **A. Reference & Administrative Details** 

Directors of the company and trustees of the charity during 2021 have been: 

Sandra Brunt Neil Watkinson Richard West Catherine Cook Paul Williams Andrew Kearns 

Bankers: NatWest Maidenhead Branch 66 High Street Maidenhead SL6 1QA Solicitors Kidd Rapinet 33 Queen Street Maidenhead, SL6 1ND Address: The registered address is: Old Vic, St Mary’s Close, 14 High Street, Maidenhead, SL6 1YY 

Constitution:   Company Limited by Guarantee registered in England, No. 5167429 Registered Charity No. 1105023 

## **B.  Structure, Governance & Management** 

1.  The charity/company is run by the trustees/directors, with Catherine Cook acting as company secretary. The trustees/directors are also members of the company. 

2.  Phil Kemp FCA has undertaken the Trust’s financial work during the year. Trustees meet as and when necessary. 

3. The Trust is closely associated with the Church of St. Andrew & St. Mary Magdalene, Maidenhead (St. Mary’s, Maidenhead). 

4. Trustees are found from among the members of St. Mary’s Church or other churches. Training for new trustees involves drawing attention to Charity Commission publications, making available relevant past charity/company papers and oral explanations about the work of the charity/company. 

## **C.  Objectives and Activities** 

5. The Trust’s objects as set out in the Memorandum and Articles of Association, are to advance the Christian faith (with particular emphasis on evangelism and pastoral care); to relieve people in need or hardship, aged or sick, and to relieve distress, in Maidenhead. 

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## **A & M TRUST: Trustees Report (cont.)** 

6. In fulfilment of these objects, the Trust holds assets for the use of St. Mary’s, Maidenhead. Trustees’ policy is to hold these assets in such a manner that they are entirely safe and can be realised and used when needed. These assets comprise finance donated for the Church’s Project Connect and properties. The Church is responsible for the management of these properties including insurance, letting, improvements and repairs, and all associated finances. 

## **D. Achievements & Performance** 

7. During 2021, minor maintenance and improvements were carried out on the residential properties.  St Mary’s Church continues to be fully responsible for their management and use, including any lettings to the wider community.  Of the two residential properties owned by the Trust Hemsdale was used by the Church for its staff during the year.  The other, Castle Court, was let on a commercial basis with the income applied to the provision of staff housing elsewhere.  Castle Court was sold in the year realising a gain on disposal.  The proceeds are to be used to purchase another property to be used by Church staff. 

8. The Trust has now ceased to receive donations towards Project Connect.  Launched in Autumn 2012 Project Connect comprised 3 elements - a partnership with a nearby village church to expand their work, the employment of new staff at St. Marys, and the upgrading of the church buildings. The refurbishment of the church began in autumn 2016 and has been substantially completed with the congregation moving back to the church in early 2018.  Costs relating to the refurbishment of the church exceeded the total amounts received by the trust for Project Connect and any remaining restricted funds held by the trust were granted to the church in early 2022. 

## **E. Financial Review** 

9. The Trust does not undertake fund-raising directly. Incoming Resources in 2021 were £500. This was income donated as unrestricted funds and to Project Connect, gift aid is also received on most donations and follows the purpose of the associated donations. Outgoing Resources comprised £10,000 donated to Project Connect at St Mary’s Maidenhead.  Legal costs incurred in the year of £865 related to costs associated with finding a replacement property for Castle Court.  There were £713 of governance costs. 

10. The net current assets, current assets less current liabilities, at 31/12/21 were £748,167 (2020 : £345,238).  There are no creditors due over 1 year. 

## **F. Plans for the Future** 

11. The period ahead will see the release of remaining restricted funds to the church for Project Connect and iServe Africa.  The trust has considered the suitability of the residential properties that are held and disposed of Castle court and is actively seeking a replacement that would be more suitable for staff of St Mary’s Maidenhead. 

12. A&M Trust is in discussions with Brock Lane Trust (a trust, but not a charity, established with similar aims) as to whether Brock Lane Trust could be dissolved and it’s funds transferred to A&M as restricted funds maintaining its original purposes. 

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A & M TRUST: Trustees. Re
G. Statement of Trustees, Res
onsibilities
ort
cont.
13. Law appllcable to charities in England and Wales requires trustees lo prepare financial
statements for each finanaal year which give a true and fair wew of the tharity's financial
activities during that period, and of tts financial position at the end of the perTrod. In preparing
financial statements giving a true and fair view. the trustees should follow best practice and..
select suitable accounting poliC￿S and appty theffl o)rtsislently,'
rnake suitable judgments and estimates that are reasonable aThJ prudent"
state whether applicable accounting stsndards and statements of recommended pradice
have been followed. subj.ed to any departures disdosed and explained in the financial
statements.,
p￿pare finanaal ststements on the going con￿rn basis unless it is inappropriate to
presume that the ¢harity will ￿ntinue in operatlon.
14. Trustees are responsitrAe for keepSng acC￿nting re￿rdS which disdose with reasonable
accuracy the financral positi￿ of the charity. and whith enable them to ensure that financial
statements comply wrth applicable law and regulations. They a￿ also responsible for
safeguarding the assets of the Charity and hen￿ for tsking reasonable steps for Ihe prevention
and detention of fraud and other irregularities. The Trust's income and expenditure is at a level
at which Independent Financial EXaminat￿n is required.
H. Risk Mana
ement
15. The main risk has been KlentEfied as deterioration in the state of capital assets. To minimize
risk, close contact is maintained v￿th St. Marfs (￿Ce￿Ing the manage￿￿nt and maintenance
of any properties held by Ihe Trust.
l. Reserves Pollc
16. The Trust expe(ts to have minimal overhead o)sts and does not need large Cash reserves
to meet these. Follo%Mw the sale of Castle Court cash reserves are high whilst a r8pla¢ement
property is found.
J. Goin
Concern
17. The trustees have consrdered the going concern of the chaiity their review covers a
period of at least 12 months from the date of approval of the accounts. The trustees consider
that the charity is a going concem.
Thls report was approved by the trustees on 21 June 2022
Richard West {Trusteej

## **Independent examiner's report on the accounts** 


## **Section A                        Independent Examiner’s Report** 

**Report to the** A & M Trust **trustees/directors/ members of On accounts for the year** 31 December **ended** 

**2021** 

**Charity no.:** 

1105023 Company no.: 

5167429 

**Set out on pages** 2 to 11 

**Respective** The trustees are responsible for the preparation of the accounts. The **responsibilities of** charity’s trustees consider that an audit is not required for this year under **trustees and examiner** section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.  I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants England & Wales _`.`_ 

## 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 Commission (under section 145(5)(b) of the Charities Act, and 

- • to state whether particular matters have come to my attention 

**Basis of independent** My examination was carried out in accordance with general Directions given **examiner’s statement** 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 the 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. 

**IER** 

**December 2018** 

5 



**Independent** In connection with my examination, no material matters have come to my **examiner's statement** attention which gives me cause to believe that in, any material respect: 

- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or 

• the accounts do not accord with such records; or 

• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or 

- •the accounts have not been prepared in accordance with the Charities SORP (FRS102). 

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. 

|**Signed:**<br>**Name:**<br>**Relevant professional**<br>**qualification(s) or body**<br>**(if any):**<br>**Address:**|**Date:**|06/16/2022|
|---|---|---|
||||
||||
||Anthony Platt||
||||
||FCA||
||||
||Thames Bridge Accountants||
||60 Oak Tree Road||
||Marlow, SL7 3EQ||



6 

**IER** 

**December 2018** 



## **A  &  M  TRUST** 

## **Statement of Financial Activities for the Year ended 31 December 2021** 

## **Summary Income and Expenditure Account** 

|Note<br>INCOME FROM:<br>Donations and Legacies<br>Individuals<br>7<br>Investment Income<br>Interest Receivable<br>Other income<br>Gain on disposal of 9 Castle Court<br>Total  Income<br>EXPENDITURE ON:<br>Charitable Activities<br>8<br>Governance  Costs<br>Total Expenditure<br>NET  INCOME<br>Reconciliation of funds<br>Total funds brought forward<br>Movement between funds<br>Total Funds carried forward<br>6|Unrestricted<br>Restricted<br>Total<br>£<br>£<br>£<br>-<br>500<br>500<br>657<br>-<br>657<br>159,346<br>-<br>159,346<br>160,002<br>500<br>160,502<br>-<br>10,000<br>10,000<br>1,565<br>-<br>1,565<br>1,565<br>10,000<br>11,565<br>158,437<br>9,500<br>-<br>148,937<br>1,457,086<br>87,143<br>1,544,229<br>-<br>-<br>-<br>1,615,523<br>77,643<br>1,693,166<br>2021|2020|
|---|---|---|
|||Total<br>£<br>297,679<br>1,113<br>-|
|||298,792|
|||5,536<br>713|
|||6,249|
|||292,543<br>1,251,686<br>-|
|||1,544,229|



The notes on pages 8 to 10 form part of these accounts. 

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A&MTRUST
Balance Sheet as at 31 December 2021
Note
2021
2020
Fixed Assets
Tangible Assets (Freehold Propgrtyl
9, Ca$￿8 Court, Maidenhead. Berkshre
1, Hemsdale, maidenhe￿1. Berkshire
The Old Vic. St Marys Close. Maidenhead
at Cost arxj Net Book Value
253,991
475,O¢X)
470,000
475.IXKI
470.fXKJ
945.0
1,198,991
Current Assets
Investments
Cash at bank and in ha￿1
Debtors
1.6&9
172.344
575.302
1.221
748,867
171,730
173,057
1,151
345,938
10
Llab115tles
Creditors due within one year
Net curront assots
Creditors due after more Ihan on8
Total Net Assets
7LN)
748.167
700
345,238
748.167
345.238
Total Assets
1,693,167
1,544,229
REPRESENTED BY: _
Funds
Reslricied Funds
UnTestricted Funds
Total Funds
77.640
1,615.527
87,143
1.457.086
1.693.167
1,544,229
In approving these financial slalements as directors of the company and Trustees. V•E hweby ccffifirm '.
(a) that for the year staled above the company was entsued to the Audil exemption conferred by Section
477 of the Companies Act 2006.
(b} that Tr) notice has been deposited al the registered offKe of the company wrsuanl to Section 476
requesting an audit be conducted for the ended 31 D￿rnber 2021 a￿1
(¢) that we a¢knO￿edge our responsibilit￿S for..
(1 } ensuring that the wmpany keeps accounting record5 whb* comply wtb Section 386, and
(2} preparing financial stslements which give a true and fair V￿eW of Ihe stale of affaTrs of the company
&8 al the end of the financial year arKI of ils profrt or loss for the year then ended in accordarlce wtth the
requirements of Se¢tM 393 and whth olhemse comply th the prowsions of Ihe Companies Act
relating lo firrancial statements. so far as appliCa￿e to the compary.
The financial statements have been wepared in ￿y￿ar￿e Nwth ArAxJuntin9 and ReFXNting by Charities".
Statement of Recommenéed Pr￿ti￿ appli¢able to charitses prepariry their artounls in accordance bmih the
Financial ReF)Orting Standard applicable in the UK and Republ￿ of Ireland IFRS 1021 leffeclNe 1 January
2015) - {Charities SORP IFRS 102)). the Finanual ReprtrwJ StarKlard appliCa￿e in the UK and Republic of
Ireland IFRS 1021 and the Companies Act 2LM)6.
These finanaal statements were approved the Board atxl Trustees on 21 June 2022 and signed on its
behaW by
Rlchard West- Dlroctor and Truste•
Charity Registrat*)n Number 1105023 (England & Wales)

## **A  &  M  TRUST** 

## **Notes to the Accounts for the Year ended 31 December 2021** 

## **1. Accounting Policies** 

- **1.1 Basis of preparation of accounts.** 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. 

A&M 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 note(s). 

- **1.2 Preparation of the accounts on a going concern basis.** The trust received the last pledges in respect of Project Connect during the year and has some further payments to make to St Mary’s Church in respect of these. To the extent that the trust has significant unrestricted cash reserves and capital then the trustees consider that the immediate future for the trust for the next 12 to 18 months is secure and on that basis the charity is a going concern. 

- **1.3 Incoming resources.** Voluntary Income and Donations are accounted for in Incoming Resources when they are received.   Income from fundraising ventures is shown gross.  Interest on funds held on deposit is included when receivable.  Gains on disposal of assets held for the charities own purposes are realised on sale of the asset. 

- **1.4 Resources expended.** Resources expended are included in the Statement of Financial Affairs on an accruals basis, inclusive of any VAT which cannot be recovered. Expenditure which is directly attributable to specific activities has been included in these cost categories.   Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources. 

- **1.5 Tangible fixed assets.** Individual fixed assets costing £1,000 or more are capitalised at cost. In the opinion of the directors and trustees, no depreciation should be charged on the Freehold Properties. 

- **1.6 Cash at bank and in hand.** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.  Cash reserves are placed on deposit at the Nationwide Building Society and with Close Brothers. 

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## **A  &  M  TRUST** 

## **Notes to the Accounts for the Year ended 31 December 2021 (continued)** 

- **1.7 Creditors and provisions.** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount. 

- **1.8 Debtors.** Other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. 

## **2** 

## **Related Party Transactions** 

- **2.1 Transactions with Related Parties.** As at 31 December 2021 one trustee (Neil Watkinson) was also a member of St Mary’s Church PCC.  There have been no related party transactions requiring disclosure in the reporting period.  Total aggregate unconditional donations received from trustees in the year was £nil. 

- **2.2 Staff Costs.** No remuneration was paid to Trustees / Directors and no staff were employed in the year. 

**3. Legal Status of the trust.** The trust is a company limited by guarantee and has no share capital.  The liability of the members is limited.  Every member undertakes to contribute such amount as may be required (not exceeding £10) to the charity’s assets if it should be wound up. 

**4. Restricted Funds.** At 31 December 2021 Restricted Funds included £80 (2020 : -£80) donated specifically for iServe Africa.  These funds were granted to iServe in early 2022. 

   - The balance of restricted funds relates to money received for Project Connect.  At the year end restricted funds included £77,559 (2020: £87,063) in relation to Project Connect. 

**5. Independent examination** .  Payments were due to Thamesbridge Chartered Accountants in respect of the independent examiner for the year of £700 (2020:£700) 

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|**2021**<br>**6.  Analysis of net assets between funds**<br>Unrestricted<br>Restricted<br>Total<br>Funds<br>Funds<br>Funds<br>**£**<br>**£**<br>**£**<br>Tangible Fixed Assets<br>945,000<br>-<br>945,000<br>Net Current Assets<br>670,527<br>77,640<br>748,167<br>Total per Balance Sheet<br>1,615,527<br>77,640<br>1,693,167<br>**��������������������������������**<br>For Project Connect<br>-<br>500<br>500<br>For St Mary's staffing (Brock Lane Trust)<br>-<br>-<br>-<br>For iServe Africa<br>-<br>-<br>-<br>Unrestricted<br>-<br>-<br>Total per Statement of Financial Affairs<br>-<br>500<br>500<br>**�������������������������������������������**<br>For Project Connect (St Mary's Maidenhead<br>-<br>10,000<br>10,000<br>For Brock Lane Trust (staffing)<br>-<br>-<br>-<br>For iServe Africa<br>-<br>-<br>-<br>Total per Statement of Financial Affairs<br>-<br>-<br>-<br>**������������������������**<br>Nationwide Building Society Account<br>85,000<br>-<br>85,000<br>Close Brothers<br>87,344<br>-<br>87,344<br>Total per Balance Sheet<br>172,344<br>-<br>172,344<br>Cash at bank<br>498,879<br>76,423<br>575,302<br>**����������**<br>Gift Aid tax<br>-<br>1,217<br>1,217<br>Accrued interest<br>4<br>-<br>4<br>Total per Balance Sheet<br>4<br>1,217<br>1,221<br>**��� ��������!�������"���������#��������$���**<br>Governance Costs<br>700<br>-<br>700<br>Total per Balance Sheet<br>700<br>-<br>700|**2020**|
|---|---|
||Total<br>Funds<br>**£**<br>1,198,991<br>345,238|
||1,544,229|
||42,873<br>3,000<br>2,431<br>249,375|
||297,679|
||3,600<br>1,936|
||5,536|
||85,000<br>86,730|
||171,730|
|||
||173,057|
||1,147<br>4|
||1,151|
||700|
||700|



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