CANAAN TRUST
(A Company Limited by Guarartttt)
UNAUDITED REPORT AND
FINANCIAL STATEMENTS
for the Year Ended 31 March 2023
Charity Number 1105657
CompaThy Nomber 05169595

Canaan Trust
(A Company Limited by Guaran¢¢¢>
Report of the Trustees for the year ended 31 MaTch 2023
The Trustees are pleased to present their annual Director's Report together with the financial statements of the charity for the
year ended 31 March 2023 which are also prepared to meet the requiretnents for a Director's Rep)rt and accounts for
Companie5 Act purposes.
The financial statetRents comply with the Charities Act 2011, the Companies Act 2006. the Memorandum and Articles of
Association, and Accounting and Reporting by Charities.. Statement of Recommended Praciice applicabl¢ to charities
preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ir¢land (FRS102)
(effeciive l January 2019).
Chairs, Re
ort
This financial year has been one of the most challenging in the Trust's history. This time last year we were completing th¢
purchase of 16 Main Street to develop as a female house io complement the work of Jordan House our male accommodation.
Whilst we haye made good progress in putting the necessary planning pernissions and relevant plan5 in place the subsequent
cost of living crisis has made fund raising a much bigger challenge. grant funding bodies, local organisations and individuals
all having fewer funds to distribute. Having said that we are supported by many local Ind￿vIdUal5 who have organised events
for u5. Local superniark¢t5 Gontinue to allow us to hold ¢olle(tIOD5 alld donate goods. Finns have provided working parties
for various tasks such as decorating and gardening. We aT¢ so truly grateful for all the local support we receive. We would
not survive without il.
Wh¢n the Gharity was inaugurated it W&5 called the Aspire Trusi the name changing to Canaan TN5t som¢ years later. We
have ch95en to acknowledge thi5 by namEng ￿ll￿ber 16"Asptre House."
Whilst working io bring Aspire House into use we are mind￿￿ that this should DOI have a negative impact on Jordan Hoy5e
and our work in the commut]ity. The overall finances of the TNst are ther¢fore being kept under careful review to en5UTe
those core 2Ctivities continue and sufficieni reserves are available for any unforeseen circumstances.
eets and Aetivities
The objectives of the charity are the relief of poverty, the advancement of education and the provision of a planned
programme of high quality housing related services.
Looking ahead we have ¢XPBnded th¢ number of trustces on the Board. These new recruits bring a wealth of knowledtse,
experience and enthusiasm to the Trust. Over the coming weeks and months we will be developing ways of working to
ensure they make a truly positive effect on th¢ gov¢rnaRce of Canaan and ensure we continue to provide the vital support Éo
homeles5 individua15 and th05¢ threaten¢d with hom¢l¢ssness for which we are valued.
A hitvernents and Perform*Thet
Throughout the year the Tnjst has continued to provide accommodation for 12 homeless males with support available 24n.
A number of residents have successfylly found employment and moyed on into their own accorntnodaiion. Support does not
end ihere, staff are available to offer advice should they need it. There is always a waiting list for place5 $0 as soon as one
clieni leaves another arrives. bringing their own issues to be addressed togetheT with the staff.
Demands for support for those in the community conlinues to incrvas¢. Th¢ demand for food parcels continues to grow often
ourstripping the number of donations received. We have been 5ucce55fv1 in receiving mone(ary grants ro enable us to buy
food to make up the shortfall.

Trust
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 31 Mareh 2023- Contlnued
CaTraan is also known 3$ a place where advice is available. We support all who come asking for advice and our staff share
thetr considerabl¢ knowledge and expertise io help them through their difficulties.
The Trustees wish to acknowledge once again the lengths all OUT Staff go to to support those in need. The phr2se"above and
beyond the call of duty" can easily be iyritten but the Trustees often find themselves in awe at the challenges staff have faced
and how they have dealt with them. We sincerely thank them once again for all they do.
The staff are backtd up by a t¢am of v¢ry hardworking volunteers who und¢rtak¢ a myrlad of tasks. Helping clietjts move
furniture and belontsing5, preparing food parcels. managing donations, counting colledions are just 2 few examples of the
help we receive. Again the Trustees are truly grntefvl foT all their ¢ffort5.
Major events during the year were the Christmas Lullch in the Community. the Annual Sleep Out, participation in the
Camival. All of these were really well supported and raised awareness Of the work of the Trnst.
A significanc Public Meeting was held in January io show the plans for Aspire House and explain our hopes and plans foT ils
development. This was very well atMded and generated much interest and support.
To enhan¢¢ the fundraising for Aspire House we haye employed the setvice5 of a professional fundraiser for Ixje day a week.
Th¢ results of heT work are already coming through.
As inenlioned in the Chair's report the Board of TNstee5 has been expanded to reflect th¢ increased size of the Trusi with the
a¢qNisition of Aspire House.
Their induction continues as we develop a subcomtnittee Structure to ensure skills and expertise are focussed in areas where
they can be most effeciive.
Public Benefit
Our charitable activitie5 focu5 not just otj the street ho]nele55 but a150 the'hidden homeless" who may be sofa 5urfkng with
friends and those threatened with homelessness for whatever rea50n. Those who are refetred to us by local authorities often
have a number of issues such as a hÈstory of alcohovdrug abuse, offending, leaming difficulties. low self esteem. These
issues are addressed by providing individual programmes of 5UPPOrt, Including counselling. and education on a wide range of
life skills io equip the clients for independeTrt living as well as stspport tn dealing with extemal agencies.
Those in the community who atrive at our door often need short terni help and advice to ov¢rcom¢ a 5pe¢ific issue.
The Trust seeks to embed fair access, fair exit, diversity and inclusion within the culhwe and p¢rfoTmance of its service. All
equality and diversity policies and procedures are designed to proactivety fulfil the requirements of the t￿rrent legislation.
Equal a¢¢ess to our services 15 an important issue for us. We have a ¢onstant monitoring process io ensure entry to the
proj¢¢t Ès not di5¢riminatory by disability, religious belief or Sexual orieniation.
The trust¢es ¢onfirni that they have complied with their duties under s¢¢tion 17 of the 2011 Charities Aci wilh regard to
Public Bellefit.

Canaan Trust
(A Company Llmited by Guarantee)
Trustees, Report for the Year Ended 31 March 2023- Continued
Financial Review
The attached financial statements show the cutrent state of the finances. The company had incoming resources during the
Ye￿ of £382.992.
The company's revenue reserve unrestrrcted fund balance i5 a surplus of £844,556 at 31 March 2023 which is substantial]y
held as property. The company's unrestricted deficit for the y¢ar totalled £688.
Th¢ principal funding SOU￿¢5 of rental ￿n￿me from Housing B¢n¢ftt, logether with donations have been used to support the
k¢y objectiv¢s in achieving th¢ perfornianc¢ &s d¢scribed above.
Investment Powers of Trust
To invest trusi money in the purchase of or at interest on ihe security of such stocks funds share5 securities or other
investments or property of whatever narnre and wherever simared as the Trustees in their absolute dis¢retion thitth fit to the
intent thai the Trustees shall have the same ￿1] and Ut￿estricted powers of invesÈing and transposing inv¢stments as if they
were beneficially entitled to ihe Tnjst Fund.
Gr8nt Illaking Policy
At the discretion of the board of Trustees, they may from tim¢ to time make donations to other charities which have the &￿e
objectives as the Trust.
Fundrai$ing Activitie5
A variety of activities take place to iaise fuTrds for the Charity. All of these funds are used for charitable purposes. The
Iru5tees are grateful for all h¢lp offered during th¢ year on a voluntary basis.
Reserve5 Policy
As at 31 Marth 2023 the total funds of the Trust were £844,556 (2022.. £803,374}, a substantial amount of this being
represented by fLxed assets.
The Trn5t segregates its funds between those that are restricted and those that are unrestricted.
General fijnds represent the accumulated sury71us on unrestrictcd income and ¢xpenditure and are available for use at the
discretion of the Board In pursuing the geneTal charitable objective5 of the charity.
The Directors have adopted a reserves policy that unrestricted funds held in th¢ general fiind should cover 3 month5 running
costs.
Designated funds are fund5 that have been set aside by the Board for a specific purpose.
In 2021122 a designated fund was estsblished for the expansion of the Canaan Trust for the future. The DiTpKlor5 have
deterniined that thi5 fund will be dedicated to the Aspire House Womet)'s Project.
In 2022123 a designated freehold property and r￿ed asset fund has been established that represents th¢ net book value of the
Trust's freehold property and fixed assets, less any outstanding debt secured against those as5¢ts. Thi5 fund has been
8¢parated from the general fimd in recognition of the fact that tlie freehold property and fixed assets ar¢ used in the Trust,
day-to-day work, and the fund value would not be easily realisable if needed to meet future liabilities.
Restricted lunds represeni income received where the donor or the nature of the appeal generating the income has imp05ed
restrictions as to how the monies shall be used.

Canaan Trust
(A Company Llmlted by Guarantee)
Trustees. Report lor Ibe Year Ended 31 March 2023- Continued
Future Plans
Our plan5 are set out in our Bu5ine5s Plan 2023-25 and the 5 Year Funding Strategy 2023-28 which have been produced this
year. They are Works in pry>gress and will continue to be developed ihis year.
Given the difficult financial year we have just experienced the immediate priority is to stabilise the finances of the Trust to
ensure its long ter￿ future.
Alongside this are the ¢OTStinuing efforts to ra15¢ funds for the r¢furbishm¢nt of Aspire House.
An element of this will be the establishment of a fundrnising task forc¢ to coordinate community events on the Trust's behalf.
The coniinuing development of the work of the Board of Tnjsiees to fijlly integrate the new frnstees and ensure their skills
are fully utilised.
To plan the staffing StruCtt￿e of the Trust to take account of Ehe extra staff members needed to otKTate A5pir¢ House when it
comes into use.

Cana#n Trust
(A Company Limited by Guarantee)
Report of the Trustees for th¢ Year Ended 31 March 2023
Reference and Administrative Informatio
CHARITY NAME..
Canaan Trust
CHARITY REGISTRATION NUMBER:
1105657
COMPANY REGISTRATION NUMBER:
5169595
REGISTERED OFFICE:
Cliffe Hill House
22-26 Nottingharn Rgad
Stapleford
Nottingh2m NG9 8AA
OPERATIONAL ADDRESS:
Jordan House
14 Main Street
Long Eaton
Nottintsham NGIO IGK
PATRONS:
Andrew James
TRUSTEES OF THE CHARrrY
AND DIRECTORS OF THE COMPANY".
MTS D Ross ITreasur¢r)
Mr D Gee (¢haiT)
Mr T J Broad
Mr A Goulden
Mr T Jone5
Mr5 T Hopkins
PROJEcf MANAGER:
(Responsible for d&y to day fllDiiing of project)
Kevin Curtis
ASSISTANT MANAGER:
Kate Bassford
COMPANY SECRETARY:
Not Appointed
INDEPENDENT EXAMINER:
Alexander Butterfield ACA
Chartered Accountant
Haines Watts Nottingham Lirnited
Clitye Hill House
22- 26 Nottingham Road
Stapleford
Nottingham NG9 8AA
BANKERS:
The Co-operdtsve Bank PLC
4- 5 Exchange Walk
Nottingham NGI 2NX
Barclays Bank PLC
SOLICITORS:
Ellis-Fern)or Negus
35 Derby Road
Long Eaton
Nottingham NGIO I LU
WEBSITE:
www.canaan-tNst.co.uk

Can&an Trust
(A Company Limited by GMargnle¢)
Truste¢$' R¢port (or the Yt4r Ended 31 March 2023
Structure, GoverThance and MxnagemeDt
Governin
Document
The O￿anIsation is a charitable ¢ompat]y limited by guarantee, incorporated on 2 July 2004 and registered as a ¢h&ity on 27
August 2004. The company was established under a Metnorandum of Association which established the objects and powers
of the charirable company and is ooverned under its Articles of Association. In the event of th¢ company being wound-up
members are required to Contribuie an amount not exceeding £10.
Recrnitment and A
ointment of Mana
ement Committee
The directors of the company aro also charity trustees for the PUTposes of charity law and under the company's Arti¢le5 are
known as the Board of Directors. Under th¢ requir¢menls of the Memorandum and Articles of Association one thÈrd of th¢
members of the Board of Director5 are required to retire from office annually. The Directors to retire by rotation shall be
those who have been longest in office since their last appoinknent. The Trustees appointed represent a numb¢r of churth¢s
and domination5 Within the locality.
Forniation
Canaan Trust formally comtnenced operation on the l April 2005 when all assets and the operations of The Aspire Ttust
were transferred tts the Canaan Trust by a deed of gift attd staff were transfe￿￿ under TUPE.
Tjwstee Induction and Trainin
Any new trustee undergoes an induction Process to brief them on th¢ir l¢gal obli8&tions under charity and company law, the
content of the Memorandum and Articles of Association, the committee and decision tnaking process, the business plan and
the recent financial perfomiance of the Charity. During this u?duction they meet key employees at]d other trustees. All
.trustees are actively encLiuraged to attend appropriate training ¢veDts that will facilitate the undertaking of their rol¢ within
the cliarity.
Risk Mana
ement
Tlie Board of Directors has conducted a review of the major risk5 to which the charity is exposed. A risk register has been
establi5htd and will be updated a[￿uallY. Where appropriate, systems or procedures have been established to mitigate the
risks the charity face5. The TrusÉ ha5 appointed external advisers for Health and Safety. Human Resources and Inforniarion
Technology to ensure compliance with current legislation and provide expert advice. Significant external risks to funding
have led to th¢ development of a strategic plan which will allow for the diversificaiion of funding and attivilies. In￿Mal
ntrol risk5 are minimised by the irnplementation of procedures for authorisarion of all transactions and projects.
Prgcedure5 ar¢ in place to ensure compliance with health and safety of staff. volunteer5. clients and visitors to the project.
Monthly reports are produced to monitor IT2come and Expendiwre enabling steps to be taken early to lessen risk. Internal
risk5 are minimised by the implementatiort of procedures for auihorisation of all transactions by at leasi 2 trustees or I trnstee
and the treasurer. The Treasurer and Project Manager monitor all cash transactions and limits ore sei for monthly amounts of
expenditure.
The Direclors monittsr the threshold for th¢ guarantee of funds in bank a¢¢ounts and ensure our bank balanc¢s are allocated to
different accounts io ensure there is no risk to them.

Can&an Trust
(A Company Limited by Guarantee)
Trustees, Report for the Year Ended 31 March 2023- Continued
anisational Strucwre
Canaan Trust has a Board of Directors which meets monthly and is responsible for th¢ 5trat¢gic direction and policy of the
charity. At present the Committee has Six member5 from a variety of professional backgrounds relevant to the work of the
charity.
A scheme of delegation is in place and day to day responsibility for the provision of the services resis wilh the project
Tnanager Mr Kevin Curtis. He is responsible for ensuring that the charity delivers the services 5pe¢ified and that key
performance indicator5 OTe met. The Manager has responsibility for the day to day opeTatioRal Enanagement of the PrL)j¢Ct.
individual superYi5ion of ihe staff team and also ensuring that the ieaTll continue to develop their skills and working practices
in line wilh good practice.
Responslbllltles ol the Trust¢e$
Company law requires the Trnstee$ to prepare financial statements for each financial year which give a twe and fair view of
the state of the affairs of the ch2Tltabl¢ company as at the balance sheet date and of its incoming resources amd application of
resource& including income and expendimre, for the finan¢ittl year. Ill preparing ihose finan¢ial $tatements, the management
committee should follow besi practice and-.
State whether applitable UK accounting standards have been followed,. subject to any material d¢pJrtiires disclosed
and explained in the finantial statements.
Select suitsble accounting policies and then apply them cgn5lStently'
Make judgements and estitnate5 that are reasonable and prudent,. and
Prepare th¢ financial statements on the going concern basis unless it is inappropriate to assume that the company
will continue on that basis.
Observe the methods and principles in the Charities SORP.
]￿e Trustees are responsible for maintaining proper accounting rewrds which disclose with reasonable accuracy at any time
die financial p95ition of the charitable cornpany and to enable them to ensure that the financial statements comply with lh¢
Cotnpanies A¢t 2006. The Board of Directors is also responsible for safeguarding rhe &ssets of the charitable Company and
hence for taking r¢a50nable steps for the prevention amd detection of fraud and other itTegularities.
Members of ihe Mana
ement
ommitt¢¢
Members of the Board of Dir¢otors who ar¢ also trustees lor the purpose of charity law, who served during th¢ year and up to
the date of this report are set oul on page 5.
Members of the Charitable Cornpany guarant¢¢ to ¢ontrilwte an amount not exceeding £10 to th¢ assets of the charltable
company in the event of windtng up. The total number of such guarantees at 31 March 2023 was 6 (2022- 6).
This report has been prepared in accordance with the Staternent of Recomtnended Prdctice.. Accounting and Reportin8 by
Charities in accordance with the Special Provisions of Part 15 ofthe Companies Act 2006 relating to small entities.
Approved by the Board of Directors on {.....
.) and signed on its behalf by:
SignaNre .....
Mr D Gee (Director and Chair of Board of Trustee5)

Canaan Trust
(A Company Lirniled by Guarante¢)
Company Nurnber: 05169595
IndeptndeDI EJaminer'5 Report to the Tru5¢ees of Canaan Trugt
I report on the charity trustees on my exalnination of the accounts of the cotnpany for the year ertded 31 March 2023.
Responsibilities amd Basis of Report
As the charity's tsustees of the Company land also its directors for the purpose of company law) you are responstble for the
preparntion of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'l.
Having satisfied myself thac ihe accounts of the Company aTe not required to be audited under Part 16 of the 2006 Act and
are eligible for independent examination. l ¥eport in respect of my examination of your charity'5 a¢¢ount5 as carried out
under Section 145 of the Charities Act 2011 ('the 2011 Act.). In canying out my examin8tion I have followed the dIr￿tionS
given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent E%8min¢T'S Statement
Since the Colnpany's gross in¢ome exceeded £250.000. your examiner Must be a m¢mber of a body listed in section 145 of
the 2011 Act. I confirni that l am qualified to undertake the examination because l am a member of the Institute of Chartered
Accountanis, whith is one of the listed bodies.
I have completed my examination. I confim thai no matters have come io my anention in connection with the examitiation
giving me cause 10 believe'.-
l) Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act: or
2) The accounts do noi accord with those record5. or
3) The atycounts do not comply with the accounting requii'tm¢nts of sectton 396 of the 2006 Act other than any
r¢quir¢ments that the accounts give a 'tTue and fair view. which is not a rnatteT coiisidered as part of an indepet)dent
¢xamination' or
4) The a¢¢owits have not been prepared accordance with the method5 and principles of the Statement of
recomrnended Practice for 2¢counting and reporting by cliarities (applicable to charities preparing their accounts In
accordance with tile Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)).
I have no concerns and have corne across no other rnatters 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.
Alexander Butterfield ACA
Chartered Accouniamt
Haines Watts Nottingham Limited
Cliffe Hill House
22-26 Nottingham Road
Stapleford
Nottingham
NG9 8AA

Canaan Trust
(A CotnpaDy Limited by GllaraDtee)
Statement of Flnaneial Activities (including lDcome aDd Expenditure Aetount}
For the year ended 31 Mgrch 2Q23
Unrestri¢t¢d
Funds
R¢strlrted
Funds
To¢•1
Funds
U￿￿$trICted
Funds
2022
Restricted
Fund5
2Q22
T(ktsl
Funds
2022
2023
202J
2023
Notes
Income
DonAtions and Leggcles
79.855
77,118
156,973
72,567
24.754
97,321
Investment Income
504
504
457
457
Income from charitable attivltitS'.
Rent & Uiili(ies
Fundraising
Other Income
196,165
29,337
13
196.165
29,337
13
186.019
33,544
10
186,019
33,544
10
Totgl In¢owtng Resource5
305.874
77.118
382.9)2
292.597
317.351
ExptndFture
Raising futtds
ChaTitablt a¢tiviiies
Suppon Cosis
11,870
223.721
11,870
258,969
70.971
6,698
222,597
6.698
225,375
35.248
2.778
Totsl Expenditure
306.562
341810
295 704
2.778
298.482
net wovement in fund
16881
41,870
41.182
(3,1071
21,976
18.869
Reculleillatio￿ of funds
Totsl fund b#l8iices
brokLght forwxrd l April 2022
17
781.398
21,976
803 374
784 505
784.i05
Total fund balAt)ces
tarried forward 31 March 2023
17
780710
63,846
844.556
21,976
803,374
The s18ttment of financisl activities rncludes all gains and losses Én the year.
AII RDcomang resources and re50UT£es expeDded derive from Continuing activitie&

Canaan Trust
(A Company Limitt¢J by Cuarantee)
Balance Sheet as at 31 March 2023
2023
2022
Note5
Fixed Assets
Tangible Assets
853.494
505,946
Current Assets
Debtors
Cash at bank and in hand
13
12,905
234313
247.218
13,623
295,351
308 974
Creditors.. amounts falling due
within one year.
14
Net Current A5setsJ{LiabÈlitie5)
236,062
297,428
Creditors.. amounts falling due
over l year
15
245,000
N¢t Assets
844.556
803,374
Unrestricted fllnd5
Get2eral Funds- General Purpose5
Designated Fund- expansion of
Canaan Trust
Designaied Fund- freehold
property and fixed assets
16
122,216
621,398
50,000
I60.￿0
608.494
Restricted Funds
16
63,846
21,976
Total Charity Funds
17
844,556
803 374
The Company is ¢Dtitled to exemption from audit under Section 477 of the Companies Act 2006 for th¢ year ending 31
March 2023.
The meTnbers have not required the ¢ompany to obtain an audit of its financial st8t¢m¢nts for the year ended 31 March 2023
in accordance with Section 476 of th¢ Companies Act 2006.
The trustees acknowledge their responsibilities for:
Ensuring the company keeps a¢counting re¢ords whi¢h comply with Sections 386 and 387 of the Companies Act
2006, and
b)
Preparing financial statements which give a true aftd fair view of the state of affairs of the company as at the end of
each finantial year in atcordance with the requirements of Section5 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to Éhe financial statements. so far as applicable to ihe company.
These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small
entities.
Approved by the Board of Directors on ........
and signed on its behalf by: ............
Mrs D Ross Treasurer and T￿st¢¢/DireCtor
Mr D Gee, Chairman of Directors and TNsteell)irector...................
10

Canaan Trust
(A Company Limated by Gu3rantee)
Notes forming part of the Finan£igl Statements for the Year Ended 31 March 2023
Accounting Polieie5
Th¢ principal accounting policies adopted, judgements and key sources of estimation uncertainry in the preparation of the
financial statements are as follows:_
{a) Basis of preparation and assessment of going concem
The financial statCTnents have been in accordance with the Accounting and Reporting by Charities., Statement of
Recommendcd Practice applicable to charities preparing their accounts in accordan¢e with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS102) (issued I, January 2019) - (Charittes SORP FRS102).
The Financi81 ReportÈRtT Standard applEcabl¢ in UK and Republic of Ireland (FRS102) and the Companie5 Act 2006. Assets
and liabilities are initially recognised Èt historical c05t or transaction value unless otherwise stated in ihe relevant
accounting policy note(s).
The ¢harity consututrs a public benefii entity as d¢fm¢d by FRSIO2.
Going Concern
The trust¢es' consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The fiEnd5 of the charity are considered sufficient to sustain the charity.
The accounts ar¢ presented in Sterling £1.
Infoming resouTfe5
All incoming resources are included in the statement of fjnancial activities when the ¢harity is entitled to the incotne and
the atnount can be quantified with reasonable accurdcy. The following sp¢cifJ¢ policies are applied to particular categories
of income..
Voluntary income is received by way of grants. donations and gift5 and is included in full in the Statemeni of
Financial Activities when receivable. Grants, where entiil¢rnent is not conditional on the delivery of a specific
perfortnance by the charity, ar¢ recognised when the charity becomes unconditionally entitled to the grant.
Donat¢d service5 or facilities are r¢cogNised as income when the ¢hJrity h35 control over the item, any conditions
a5S0Ctated with the donated item have been me¢ the r¢c¢ipt gf ¢conomic benefit from the use by the charity of the
item i5 probabl¢ and that econornic b¢Defit can be m¢a5ur¢d Teliably_ On receipt, donated services and facilities are
r¢cognised on the basi5 of ihe value of the gift to th¢ ¢hwity which 15 the a]nount the charity would have been
willing to pay to obtain services or fa¢ilities of ¢quivalent economic benefit on the open market; a corresponding
amount is then recognised in expenditure in the peritxl of re¢eipl.
Incoming resource5 from Charitable trading a¢livity are accouni¢d for when earned.
Incoming resource5 from grant& wheTe related to perfomiance and Sp￿lfiC d¢liv¢rabl¢& ar¢ a¢coutt¢ed for as the
charity earns the right to consideration by its perforn]ance.
Interest receivable- Interest on ￿ndS held on deposit is included when Te¢eivable and the amollnt can be received
reliably by the charity.. this is nornially upon notification of the interest paid or payable by the bartk.
Legacies are accounted for on a receivable basis when the following conditions have been met.
The final estate a¢¢ounts have been approved
The legacy is capable of measurement- and
There is no reversionary interest

Canaan Trust
(A Cornpany Limited by Guarantee>
Notes forming part of the Financial Statements for the Year Ended 31 March 2023- Continued
Resources expeuded
ExpenditUTe is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fvlly
recovered, and 15 reponed as part of the expenditure to whieh il relates..
Costs of generating fu#ds comprise the costs a550ciated with attracting grants incotne and donations.
Charitable expenditttre comprises those costs incurred by the charity in the delivery of its activities and seryices for
its beneficiaries. li include5 both c05t5 that cata be allocated directly to such actLVlties and those costs of an indirect
nature necessary to 5UPPOrt them.
Govemance costs include those costs associated with tneeting the constitutional and stsNtory requirements of the
charity and include the audit fees and Costs linked to the straiegic management of the charity.
All costs are 211ocated between the expenditure categorie5 of the SOFA on a basis designed to reflect the use of the
resource. Costs Felating to a particular activity are allocated directly; others are apportioned on an appropriat¢ basis.
Allocation of Support Costs- Support costs are those functions that assist the work of the charity but do not dire¢tly
undertake charitable activities. SLtpport costs include back office costs, finance. personnel, payroll and gov¢rnÈn¢e
costs which support the Trusts programmes and 2etivit2es. These costs have been all0¢a￿d between cost of raising
funds and expenditure on charitable activities. The base5 on whith support costs have been allocated 8T¢ Set out
nore 4.
Operating Leases - The charity classifies the lease of photocopiers and mobile phones as operating l¢ase5. Rental
charges are charged on 8 straight line basis over the tern) of the lease.
Tanglble Flxed Assets
All fixed asseis are capitalised ar cost, where considered 4)propriate to capitalise. Those purcha5¢d by S￿lfIC gifts and
granis have been written off fully in the year of gift.
Depre£iation is Provided at the following annual rates in order to write off each asset over its ¢5timat¢d useful life..
Fixture. Fitting and Equipment
Property
0￿1¢¢ Equipment
20Yo reducing balance
No charg¢ for d¢preciation
250/0 on cost
No deprecialion is ¢harged on land and buildings as th¢ residual value is b¢liev¢d to be higher than historical Cost.
Pensions
The Charity operates a der￿ed contrÈbution pension 5chetne. The assets of the scheme are held separately from those of the
Charity sn an independently administered fund. Contributions payable tor the yeaT are shown in the statement of fmancial
activities.
Debtors
Debtors are recognised at the settlement amount owed to the Charity or prepaid.
Creditors
Creditors and provisions are recognised where the Charity has a present obligatiQTt re5ultints from a past event that will
probably result in the trdnsfer of funds to a third party. and the amount due to Settle the obligation can be measured or
estimat¢d reliably. Creditors and provisions are norn]ally recognised at their settlement amount.
12

Can08n Trust
(A Company Limited by Guarantee)
Notes foming part of th¢ Financial Statements for the Year Ended 31 March 21)23- Continued
Financial Instruments
The Charity has financial assets and finallci21 liabilitie5 of a kind that qualify as basic fEDancial instruments. Basic financial
instruments are initially recognised at trallsaction value and 5ubsequ¢ntly measured at their settlement value
Taxation
The Charity is exempt from lax on its charithble aciivities. The Charity also rents its rooms io oiher local children's activities
whi¢h satisfy the objectives of the Charity. The Trustees have reviewed the Charity's trading activities and are confident Ihat
they furth¢r the Charity's aims and. as such, are considered to be primary purpose trading.
Judgement and Key Sources of E51irn4tioTh Uncertainty
The piepaTation of accounts using g¢n¢rally ac¢¢pted accounting principles requires managetnent to mak¢ estimates and
assutnptions that affect the reported atnounts of assets and liabilities at the date of the accounts and th¢ reported amounts of
revenues and expenses during th¢ reporting period.
The key estimates and a55umptiOll5 used it2 the Financial Statements are detailed in the accountin8 policies.
Fund Balances
Unrestricted Funds
Unr¢strid¢d fund5 are donation5 and other incoming resources receivable or generated for the objects of the Charity without
fvrther specified purpose and are available as general funds.
Desi
nated ￿ndS
Designat¢d fund5 are unrestricted funds earniarked by the management committee for particular puTpose5.
Restrici d F
Restricted funds ar¢ to be used for specific pu￿oSeS as laid down by th¢ donor and are subj¢¢ied tts rcstriciions of their
expendirure imposed by the donor or through the t¢rnis of an appeal.
Legal Ststtss of the Trust
The TNst is a company limited by guarantee and has no share capital.. the liabiliry of each member in the eveni of winding up
is limited 10 £10.
13

Canaan Trust
(A Cornpany Limited by Guarantee)
Notes forming part of the Financial Statements for the Year Ended 31 March 2023- Continued
2. Donation5 and Legaeies
2023
Total
2022
Total
UDrestricted
Restricted
Derbyshtre County Council
Co-op Community Fund
National Lottery Community Fund
Puddle Lan¢ Trust
Breaston PPCC
Erewash Borough Coun¢il - small grdnt
Foundation Derbyshire
Neighbourhood Foundation
Sainsburys
Derby City Mission
Groundwork UK
GeneTal Donations (including Gift Aid)
Giving for new property
Long Eaton Rotary
A5da Foundation
HSBC Supporting Communities Fund
Rolls Royce- Small Grant
St Ralph Sherwin- Small Grant
Fine & County
1,700
2.556
9.696
2.968
2.200
125
4,000
1,000
1,846
14,250
1,125
45.765
3.090
1,000
1,000
5.000
5.320
5,320
500
500
375
375
58,304
87,973
58,304
17,050
70,923
1,800
1.800
200
501
200
501
79,855
156 973
3. Ineomt from Charitable Aclivitie5
2023
Total
2022
Total
Unrestrleted
Restrlcted
Utility Income
Rent
Housing Benefit
16,203
16,203
10.695
179 962
175 324
196 165
196 165
186019
Tn￿tee gÉving during the y¢ar lotalled £1,700 (2022: £126).
14

Canaan Trust
(A Company LTniited by Guararttee)
Note5 forming part of the Financial StaterneNts for the Year EDded 31 Mareh 21123 - Continued
4. ExpenditsTe
2023
Total
2022
Total
Costs dlreetly allocated to ArtivÉties
Staff Costs
Direct
162,920
58,580
221.500
212.394
7.359
Rent, Rate5 and Water
Hvdt. Light & Power
Travel and Staff Expenses
Insurance
Usage
Usage
Direct
8,244
7,240
3299
5,874
2,160
9,551
8,244
7,240
7,152
33
3.332
5.874
2,400
3,266
4,036
2,370
Direci
CleaninglHousekeepir*g
R¢sid¢nts Exp¢ns¢s
Training Costs
Propety Maintenance
Healthy Living costs
Consultancy Fee5 and DBS Check5
Professional Fe¢s -
Direct
240
Direct
9,551
5,874
Direct
495
495
356
Direct
8.391
911
8,391
911
4,419
953
Direct
Direct
9,024
9.024
9,964
(New property purchase)
Direct
15,224
15,224
292,186
2.346
233,333
58.853
260,489
Support eosts allocated to aetivities
Fundraising Costs
ststionery, photocopier
and office costs
2,613
2,613
804
Usage
1,884
3.768
1,884
7,536
4,703
OffJ¢e Equipment
and Maintenance Costs
Usage
382
765
382
1,530
6.736
Computer Expenses
Telephone. Mobile and Broadband
Sundry Expenses
Charitable Giving
Bank Charges
Accounting and Payroll
Depreciation
Loan Inter¢st
Usage
Usage
Usage
Direei
3,072
218
6,145
3,277
78
3,072
874
12,289
4.369
10.015
4,582
152
152
382
381
1.925
1.925
352
2,100
Usage
Direct
117
3,381
2,745
375
3,756
4,575
3.618
Usage
Usage
1,830
4,609
3,432
3,433
3,432
10297
11,870
25,636
12,118
70,971
49,624
37.993
Total Resources Expended
11,870
258,969
341.810
298,482
15

Canaan Trust
(A Company Limited by Guarantee)
Notes forming pgrt of the FiDancial Statements for the Year Ended 31 March 2023- Continued
5. Net Incoming Resources for the year
This is stated after chargÈng
2023
2022
Depreciation
Reporting Accountants Fee
Payroll Preparation Fees
4,575
1,890
1.866
4.609
1.890
1,728
6. StaffCo$ts Nurnbers
Salaries
Pension Costs
Employers National Insurance
202,302
8,923
10,275
221.500
193,156
8,237
10,201
212.394
Average number of paid full and part time employees in the year
16
.7 within the pension scheme (2022.. 7).
The cost for ¢mploye¢'s are partly charged to support costs. The others are included in charitable activitie5. (note 4)
No ¢ffiploy¢¢ received emoluments of more than £ 60.000 in the year.
Total remun¢ratitsn of key Ma￿agement p¢r50nnel in the year was £75,685 (2022.. £75,949).
7. Trustee Retnuneratlon and Related Party Tr#Ths#et10115
No emoluments were received by the Trustee% either iheir capacities as Trustees or as members of the Board of Trustees.
There were no other emolument5 or expenses patd to any other Charity iru5tee, or persons connected with such a trustee
directly or indirectly frotn the funds of the Charity or frotn the property of any body tonnected with the Charity. The wife of
a Trustee now works on a part time basis for the ch￿lty. ShE rs paid at a rate that is kn line with other staff members and the
appointmeni was approved by all trustees. There are no other related paty transaciions.
8. Taxatio
As a Charity, Canaan Trnst Is exempt from tax on income and gains falling within se¢tion 505 of the Taxes Act 1988 or s256
of the Taxation of Chargeable Gains A¢t 1992 to the extent that ihese are applied to its ¢haritabl¢ obj¢¢ts. No tax charges
have arisen in the ChaTity.
16

Canaan Trust
(A Company Limited by Guarantee)
Notes forming part of ihe Financial Statements for the Year Ellded 31 March 2023- Continued
9. Tangible Fixed Assets
Land and
Buildings
Office
Equipment
Fi¥ture$ and
Equipment
Van
Total
Cost
Brought fonvard
Additions
51)0,852
352,125
5,796
21,702
17.779
546,129
352.125
At 31 March 2023
852 977
898.254
Depreciation
Brought forward
Charge for th¢ year
At 3 1 March 2023
5,796
21.053
130
13.334
40.183
Net Book Value
At 31 fvlarch 2023
852.977
519
853 494
At 31 March 2022
500.852
649
4,445
505.946
There were no tangible assets donated durit]g the year that were capitalised and all assets are held for the fi]rtherance tsf the
Charity's objectives.
10. Financial Commitments
The Charity has the following comrnitments..
An annual commitment to pay a photocopier and printer lease. The annual lease charge payable is £937.60.
A commitment to the cu]Tent insurance company for premiums of at least £3,398 per annutn until April 2023.
11. Pension Commitments
The Charity operates a defined contribution pension s¢h¢me administered by Standard Life. The assets are held separate
from those of the Charity in an independently administered fund. The pension cost charge represents contribuiions payabl¢
by the Charity to the and amounted to £8,923 (2022.. £8,237)_
12. DonatlODS paid dllring tbe year were A$ follows:_
2023
2022
Bundle of Hope
The Fcmiiprinis Family
1,050
875
1.925
2.100
2.100
17

Canaan Trust
(A Company LRrnited by Guarantee)
Notes forjning part of the Financial Statements for the Year Ended 31 Mareh 2023 (Continued)
13. Debtor5
2023
2022
Trade Debtors
Other Debtors and Prepaym¢nts
8.798
4.107
9,690
3,933
14. Creditors: Amounts falling dut in one year
2023
2022
Trdde Creditors
Taxation and Social Security
Other Creditors and Accwals
1,506
3.942
5,708
11.156
1,126
3,829
15. Creditors: Amounts falllng due #fter ont year
2023
2022
Bank Loan
245,000
The Bank holds security for the loan in the fomh of first and only legal chatge over the property to which it r¢lates.
These amounts are repayable other than by instalments due more than 5 years from the b81an¢e she¢t dat¢.
16. Analysis of Net Assets between fund5
Gekeral
Fund
Restricted
Fund
Total Funds
2023
Total
2022
Year Ended 31 March 2023
Tangible Fixed Assets
Current Assets
853.494
183.372
{11.156)
(245,000)
780,710
853,494
247?18
505,946
308,974
(11,546)
63.846
cu￿en1 Liab*liti¢s
(11,156)
{245,000}
Lotjg Tem) Liabilities
Net Assets at 31 March
63.846
844.556
803,374
General
Fund
Restricted
Fund
Totsl Funds
2022
Total
2021
Year Ended JI March 2022
Tangible Fixed Assets
Current Assets
505.946
286.998
(11.546)
781,398
505,946
308.974
(11,546)
803,374
510,555
291,565
(17,615)
784,505
21,976
Ctsrreni Liabiliti¢5
Net Assets at 31 March
21,976
18

Canaan Trust
(A Company Limited by Guarantee)
Notes forming part of tht Finan¢i41 Statements for the Year £Dded 31 Mareh 2023 (Continued)
17. Movements in Funds
At
l April
2022
Al
31 Mareh
2023
Year Ended 31 March 2023
Incorning
Re50llrces
Outgoing
R¢sollrce5
Tran5fer5
Restricted funds
Property Fund
National Lottery Community
Fund
Puddle Lane Trust
Foundation Derbyshire
HSBC Supporting
Communiry Fund
Tesco Community
Sainsburys
3.090
70,923
8,433
65,580
9.453
1.2(M)
3,833
9,453
1,200
5,320
{2,040)
4,400
4.400
375
500
77,118
375
691
63.846
569
35,248
21,976
restricted funds
De5ign8ted Fund
expxN$ion of Canaan
Trust
DesSgnatod Fund- freehold
property and fixed 1$5els
621398
305 874
306.562
498 494
122.216
160.000
(110.000)
50,000
608.494
608.494
General Fund
803.374
382,992
341,810
844.556
Ai
April
2021
At
31 March
2022
Year Ended 31 M#reh 2022
Incorning
Re50urc
Outgoing
R¢50vr¢e5
Transfers
Restrieted funds
Freehold Property and
Fixed Assets
24,754
2.778
21,976
Unrestricted funds
D¢5tgnated Fuvd
exp#n5ion of Canaan
Trllst
784.505
292,597
295,704
{160,000)
621.398
160,000
160.000
Genernl Fund
784.505
317.351
298.482
803.374
Desigth8l¢d Fund$
ansion of Canan Trust- The trust¢es previously set a5id¢ from the g¢nerdl fund an amount of £160,01)O for the expansion
of the Canaan Trn￿l for the future. During the ¢urr¢nt year £l10,OQO of thi5 fund was used towards the dewsit for the
purchase of Aspire House and as such the fund ha5 be¢n r¢-designat¢d within the Freehold property and fixed asset
designated fimd.
Freehold Pro
and Fixed Assets - During the year the TNsiees have designated ￿ndS representing the net value of
freehold property. fixed assets, less any outstanding debt secured against those assets, for maintenance of such assets and th¢
servicing of debts.
19

CanAan Trust
{A Company Limited by Guarantee)
Notes forming part of tbe Fin4ncial Statements for the Year Ended 31 March 2023 {ContiNued)
Purpose of R￿trIcted Funds
Fund - A new property at 16 Main Street, Long Eaton was purchased by the Charity on 5 May 2022 at a eost of
£350,000 with fvnds provid¢d from monies held and a loan from Kingdom Bank of £245.000. Donations from SGC
Solicitors. Benefa¢t Trust and The Albert Hunt Trust totalled £70,923, with a remaining balance of £65.579.
Foundation DeT
sh￿e - A total of £1,320 to be spent on busines5 rates and utilities for Derby Road siorage. A fijrther
£4,000 to be spent on floatÈng 5UPPOrt.
ain
A total of £500 to be $pent on floatintt support.
Te
mmuni
rant- A totsl of £375 for emergency accommodation.
l& DO￿ated A￿ets
Donation of perishable focNJ from Birds Bakery. Greggs. Tesco and Nando's,
th¢ value 15 not quantified.
Different churches in Long Eaton hold Harvest Festivals and fTom those ¢vents donations of food are made for the residen(S
of the Charity- these are also shared with the food bank proj￿1 and other homeless individuals in the locality.
19. Future Capital Commitments
See propety fund details in note 17.
20. Negligenc¢ In5uran¢e
The Charity hold Trustee llldemnity Insurance during the year which provides cover of up to £250,000.
21. Prior Year Restatement
The balance sheet as at 31 March 2022 has been restated in these accounts as shown on page 10, due io a casting error in the
prior year. Thi5 restatement has had no iTnpact on the Statement of Financial A¢tiviti¢s or the notes to the accounts.
20