COMPANY REGISTRATION NUMBER:5156430 CHARfTY REGISTRATION NUMBER: 1105821 The Little Gidding Trust Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2024
The Little Gidding Trust Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial posilion Notes to the financial statements
The Little Gidding Trust Limited Company Llmlted by Guarantee Trustees, Annual Report (Incorporatlng the Dlrectorfs Report) Year ended 31 March 2024 The trustees, who are also the rfirectors for the purposes of company law, present their report and the unaudited financial statements of the charty for the year ended 31 March 2024. Reference and admlnlslratlve deialls Regl8iered charlty name The Llttle Gldding Trust Umited Charlty reg18tratlon number 1105821 Company regjslratlon number 5156430 Reglsiered offlce d Coll1narn Way Thrapston. Northants NN14 4PL The truslee8 The Very Revd Dr PJW Buckler Mr SF Pott Dr TK Came Dr JC SimmorKIs Ms AP Mather Rev OG Maxfi8ld-Coote Rev Canon TM Alban Jone8 Structure> govemance and management The directors of the charltable company are Its trustees tor the purposes of charlty law. The board of trustees, who meet as and when required to conduci the charity's business. administers the charity. The trustees are lisied on this page. Oblectlves and actfvftles The Llttle Gidding Trust Limiled was Incorporated on the 17 June 2004 as a company limited by guarantee arKI is regislered as a charity wilh Ihe Charities Commisslon. The affairs ol the Company are governed by its memorarKlum and artlcles of association. The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefil when reviewing our alms and objectives and in plannlng our future acttvities. The objects of the charity are lo further Ihe advancement of religion particularly by pilgrimages to the church at Little Gidding.. Slrateglc report The followlng sections tor achievements and perfom)ance and financlal revlew lorm the strateglc report of the charity.
The Llttle Giddlng Trust Limited Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) (wJVnu6d) Year ended 31 March 2024 Achievements and perforniance Income from the porttolio of investment properttes held up well arKI in additÉon the charty received donations which maintained lotal income for the year. The Trust continues to review its portfolio of investment properties wilh a view to optimising the return it makes. The current Eevels of income allow only limited levels of grants to be made in furtherance of the charity's objeciives. The Trust's long term aim is to Increase the levels of retum on investments to allow more substantial grants to be made. Financlal revlew Total revenue for the year was £134,978 (2023: £115,305) comprising. in the main. propety rental of £69,478 {2023: £76.88n. Total expendilure for the year was £155,437 (2023: £117.604) which included significant 8xpenditure to repair and maintain the charity's properties. The trustees have not Ihought il necessary or desirable to procure a fresh valuation of the Trusfs portfolio of the charity's properties, which at balance sheet date is £1.6rn (2023: £1.6m). The truslees, annual report and strategic report were approved on 1 Novernber 2024 and slgned on behalf of the board of trustees by: The Very Revd Dr PJW Buckler Truslee 1 November 2024
The Llttle Gldding Trust Limited Company Limited by Guarantee Independent Examlner's Report to the Trustees of The Little Gidding Trust Llmited Yearended 31 March 2024 I report to Ihe trustees on my examination of the financlal statements ot The Little Gidding Trust Limited I'the charity,) for the year ended 31 March 2024. Responslbllltles and basls of report As the Irustees of Ihe company (and also its direclors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Acr). Having satisfied myself that Ihe accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carrled out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions gNen by the Charity Commlsslon under section 145(51(b) of the 2011 Act. Independent examlner's statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examinatlon giving me cause to belteve: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or the financlal statements do not accord with those records; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Irue arKI fair, view which is not a matter considered as part of an independent examination; or the financial statemenis have not been prepared in accordance wth the methods and principles of the Statement of Recommended Practice for accounling and reporting by charities applicable to charities preparing their accounts In accordance with the Financlal Reporting Standard appltcable in the UK and Republic of Ireland (FRS 102). I have no concerns and 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. Jonathan Essam ACA Chartered Accountant I8p8ndent Examiner 23 Cottingham Way Thrapsion, Northanls, NN14 4PL 28 October 2024
The Little Gidding Trust Limited Company Limited by Guarantee Statement of Financlal Activities (including income and expendlture account) Year ended 31 March 2024 2024 Unrestrided funds Totsl funds Total funds Income and endowments Donations and legacies Charitable activities- shop Investment income 7,741 56,810 70.427 7.741 56,810 70,427 958 37,460 76.887 Total Income 134.978 134.978 115,305 Expendilure Expenditure on raising fuls. Shop wrchases Investment management costs Expenditure on charit&le actsvities Tolal expendliure 8,331 38,828 108,278 155.437 331 31828 108,278 155,437 4,857 23,595 89,152 117.604 Nei Incomel(expendllure) and net movemenl In lunds (20,459) (20.459) {1299) Reconclllatlon of funds Total funds brought for4vard Total funds carrled foTrvard 1.471,281 1,471,281 1.450.822 1,473,580 1.450,822 1,471,281 The statement of financial activities indudes all gains and bsses recognised in the year. All income and expenditure derive from continuing activities. Tho nole$ on Pag 710 121orni part of these flnanclal stalements.
The Little Giddlng Trust Limited Company Limited by Guarantee Statement of Flnanclal Posltion 31 March 2024 2024 2024 2023 Note Flxed assels Tangible flxed assets Investments 12 13 670,000 953,639 1.623.639 670,000 953,639 1,623,639 Current assets Debtors Cash at bank and in hand 14 100 23,645 25,145 1,500 52,264 53,764 Crediiors: amounts falling due wlthln one year Net current assets 15. (26,982) (12,519) 41,245 {1,837) 1,621,802 Total assets less current liabllllles 1,664.884 Creditors: amounts falling due after more than one year 16 (170.980) (193,603) Net assels 1,450,822 1.471,281 Funds of the charlty Unrestrlcted funds: Revaluation reseNe Other unrestricted income funds {60,000) 1,510,822 1,450,822 (60,000) 1,531.281 Tolal unreslrlcted funds 1,471,281 Tolal charlty funds 17 1,450,822 1,471,281 For the year ending 31 March 2024, the charity was enlitled lo exemption from audit under section 477 ol the Compani&s Act 2006 relating to small companies. The members have not required Ihe company to obtain an audit of its financial statements for the year In question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect io accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime The notes on pages 7 to 12 lomi part ot these flnanclal stalements.
The Little Gidding Trust Llmlted Company Llmlted by Guarantee Statement of Flnanclal Position (conl 31 March 2024 These flnancial statements were approved by the board of trustees and authorised for issue on 1 November 2024, and are sKJned on behalf of Ihe board by". The Very Revd Dr PJW Buckler Trustee 1 November 2024 Tho nol88 on po9 7 to 12 forni part ol these Ilnanclal stslements.
The Little Gidding Trust Limited Company Limlted by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General Inlormatlon The charity is a public benefit entity and a privaie company Ilmited by guarantee, registered in England and Wales and a registered charily In England and Wales. The address of the registered offlce Is 23 Cottingham Way, Thrapston, Northants, NN14 4PL. ststemeni of compllance These flnanclal statements have baen prepared in compllance with FRS 102, The Flnanclal Reportlng Slandard applicable in the UK and the Republic of Ireland., the siatement of Recommended Practice applicable to charllles preparing their accounts In accordance with the Flnanclal Reportlng Slandard applicable In the UK and Republlc of Ireland IFRS 102) (Charities SORP (FRS 102) and the Companles Act 2006. Accountlng pollcles Ba818 of preparallon The flnanclal statements have been prepared on the hlstorlcal cost basis, as modlfled by the revaluation of certain financial assets and IlabllitSes and Investment wopertles measured at falr value through income or experKJiture. The flnanclal statement8 are prepared In sterllng, whlch Is the functlonal currency of the entlty. Golng concern There are no maierlal uncertalnties about Ihe charlty's ablllty to contlnue as a golng corthrn. Fund accountlng Unrestrlcted funds are avallable for use at the dlscretlon of the trustees to further any of the charily's purposes. Deslgnated funds are unrestrlcted funds earmarked by the trustees for partlcular future project or commitment. Restrlcted funds are subjected to restrfctlons on thelr expendlture declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: reslrfcted Income funds or endowment funds.
The Little Gidding Trust Limited Company Limited by Guarantee Notes to the Flnanclal Statements (eonttnu6dJ Year ended 31 March 2024 Accounllng pollcles {CKdI Incoming resources All incoming resources are included in the siatement of financial athivilles when entitlement has passed lo the charity; it is probable that the ecorK)mic benefits associaied with the transaction will flow to the charity and the amount can be reliably measured. The following specific poltcies are applied to particular categories of income: income from donations or grants is reco3nised when there is evidence of entitlgment to ihe gift, receipt is probth. and its airrfxint can be measured reliably. legacy income is recognised wn receipt is probable, and entitlement is established. IOrne from donated goods is meawred al the fair value of Ihe goods urbless ItS is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facililies and services are recognised in the accounts when received if the value can be reliably measured. No amounts are induded for the contribution of general volunteers. income from contracts for the suppty of services is recognised wilh the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose arKI retumed rf unspenl, in which case it may be regarded as resiricied. Resources expended Expenditure is recognised on an accruals basls as a liabifjty Is Incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: experKliture on raising funds includes Ihe costs of all lundraisiNJ activities. events, non- charitable trading pilIes, and the sale of donated goods. expenditure on chariiable activities indudes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including ihose support costs and costs relating to the govemance of the charity apportioned to charitable other expendilure includes all expenditure ihat is neilhw related to raising funds for the charity nor part of its expenditure on charitable adivitles. AII costs are allocated io exwKlilure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated diiectty to that activty. Shared costs are apportioned between Ihe activities they contritwte to on a reasonable. justifiable and consislent basis. Tanglble assets All fixed assets are recorded at COSL Investments Unlssted equity Investments are Inltialty recorded at cost, and subsequently measured at lair value. If fair value cannot be reliabty measured, assels are measured at cost less impairment.
The Little Gidding Trust Limited Company Llmited by Guarantee Notes to the Flnanclal Ststements (c¢>ntlnéj Year ended 31 March 2024 Listed investments a measured al falr value with changes in fair value being recognised in income or expenditure. Investment property Investment property is recorded at cost or valuation. The trustees have not thought it necessary or desirable to pr<)duce a fresh valuation ol Ihe Trust's portfolio of inveslment properties Impalmient of Ilxed assels A review for indicators of impairment is Caled out at each reporting date, fjth the recoverable amount being estimated where such indicators exist. Where the carying value exceeds the recoverable amount, the asset is impaired accoromgly. Prior impalmnIS are also reviewed for possible reversal at each porting date. For the purposes of impairment lesting. when it is not possible to estimate the recoverable amount of an individual assel, an eslimate is made of Ihe recoverable amount of the cash- generating unit to which the assel belongs. The cash4Jenerating unit is the smallest identifRble group of assels that includes the asset and generales cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impalrment iesting of goodwill, the goo¢will acquired in a Iwsiness combination Is, from the acquisition date, allocated to each of the Cashenerating units Ihat are expected to benefil from the synergies of the combination, irrespective of whether other assets or liabilities of the charfty are assigned to those units. Donatlons and legacles Unrestricted Total Funds Unrestricted Total FurKIs Funds 24 Funds 2023 Donatlons and grants 7.741 7,741 958 958 Charltable acllvltles- shop Unrestricted Tolal Funds Unrestricted Total Funds Funds 2024 Funds 2023 Shop sales 56,810 56010 37,460 37,460 Investmeni Income Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Investmeni wpertEs arKI interest 70,427 70,427 76.887 76.887 Shop purchase8 Unrestricted Total Funds Unrestricted Total FurKIs Funds 2024 Funds 2023 Shop ¢osiS - purchases 8,331 8A31 4.857 4,857
The Little Gidding Trust Limited Company Llmited by Guarantee Notes to the Flnanclal Statements (¢onllnuodJ Year ended 31 March 2024 Investmenl managemenl costs Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Portfolio management Propety repairs and maintenance charges 8,533 8,533 10,190 10.190 30,295 38.828 30,295 38,828 13,405 23,595 13,405 23,595 Expendllure on charitable acti8$ by activily type Support Total funds costs 2024 Total fund 2023 Support costs Governance costs 106,538 1.740 106,538 1,740 108,278 87,412 1.740 108,278 89.152 10. Staff cosls The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and sajaries 15,978 150 The average head count of employees durfng the year was 112023: 1). No employee received employee benefits of more than £60,000 during the year (2023: Nir). 11. TrupAe& remuneratlon and expenses No remuneration or other benefits from employment wlth the charity or a related entity were received by the trustees. 12. Tanglble fixed asseis Land and buildlngs Cost At 1 Aprll 2023 and 31 March 2024 Depreclatlon At 1 April 2023 and 31 March 2024 Carrylng amount At 31 March 2024 670.000 At 31 March 2023 10-
The Little Gidding Trust Limited Company Limited by Guarantee Notes to the Flnanclal Statements (contlnued) Year ended 31 March 2024 13. Invesiment8 Investment propertles Valuatlon At 1 Aprll 2023 and 31 March 2024 Impalmient At 1 Aprll 2023 and 31 mrtarch 2024 Carrylng amount Al 31 March 2024 953,639 At 31 March 2023 Freehold land and bulldlngs 2024 2023 Hlstorlcal cost- Land & bulldings 670,000 670,000 Hlstorlcal cost- Investment propertles Revaluatlon 1,013,639 {60,000) 953.639 1,013,639 (60,000) 953,639 Ferrar House whlch is used as a functional property wilhin The Little Gldding Trust Llmited, Is Included with5n land and buildings above. All othgr propertles used wilhin Ihe company are Included wilhin Investment propertles. The valuatlons were carrfed out by TJ Lawson (previously a dlrector) a chartered surveyor, on 6 July 2010. 11
The Little Gidding Trust Limited Company Llmlted by Guarantee Notes to the Financlal Statements {cOnUndI Year ended 31 March 2024 14. Debtors 2024 2023 Other debtors 1,500 1,500 15. Credltors: amounts falllng due wlthln one year %)24 2023 Olher credltors 26.982 12.519 1& Credllors: amounts faillng due after moro than one year 2024 2023 170,980 193,603 17. Analy818 of charftable fund8 Unrestrlcied lund8 At 1 April 2023 Expenditure At 31 March 2024 General lunds 1,531,281 134,978 (155.437) 1,510,822 R8valuatlon r8S8rve -12-
The Llltle Glddlng Trust Limited Schedule to the Statemenl ol Financlal Actlvfties lor the vear ended 31 March 2024 Prfor Perlod Fundl Fund# Total Fund* 2024 2024 2024 2023 Incomlng Resources from generated lunds Voluntary Income Grants. legacles and donallon8 Non govemmeni and non publlc bodle8 Incomlng revenu8 - grant$, donaiions and legaeles Donatlons and legacles 7,741 7.741 958 Total Voluntary Income 7,741 7,741 958 Aciivltles for generatlng fund3 Shop sales 56,810 56010 37,460 Total of actlvltle8 for generatlng funds 56.810 56,810 37,460 Investment Income Rent recelved from Investment prop8rtles Investment account income 69,478 949 69,478 949 76,887 Tolal Invesimenl Income 70.427 70,427 76,887 Total Incomlng Resources 134,978 134,978 115,305 13-
The Little Gidding Trust Limited Schedule to the Stalement ol Flnanclal Actlvllles tor the vear ended 31 March 2024 lknr•strfcl•d R&trlctsd TolAI PrloT Perlod Funds Funds Funds 2024 Totsl Fund# 2023 2024 2024 Costs of generatlng funds Costs of generatlng voluntary Income Cost of fundralsing activities Total Cosis of generatlng voluntsry Income Inveslment management costs Investment management costs 38,828 38.828 23,595 Charllable expendllure Slgff costs In 8upport of ¢harfla>le •¢Uvlllo* Admlnlstrative staff costs 40,442 IndlM¢l ¢Mt4 Pr•ml¥e• Co•18 Rates, water and service charges Insurance Llght and heat Premises repalrs and malntenance charges 4.246 5,156 12.611 22.262 4,246 5,156 12,611 22.262 4,752 4,829 8,369 20,821 Genernl admlnlstratlve expenses: Telephone and fax Postage, stationery arKI printlng Interest payable Bank charges 1,742 2.753 16,722 144 1,742 2,753 16,722 144 1,336 934 10,396 863 Pmle8slonal fees In support ol¢harltJble 4¢Uvltles Legal and professional fees 460 460 460 332 460 332 Toial Support cosls 106 538 106 538 87,412 Toial Expended on Charllable Actlvllles 106.538 101538 87,412 14-
The Llttle Gidding Trust Limited Schedule to the Slatemenl of Financial Activities lor the vear ended 31 March 2024 unro$trf¢t Reslrl¢lod Tolol Prlor Pgrfod Funds Funds Funds Total Funds 2024 2024 2024 2023 Governance costs that are not dlrect management fvnctions inherent In generatlng funds, servlce delivery and programme or project work Speelllc governance costs Independent Examinerfs Fees Total governance costs 1,740 1,740 1,740 1,740 1,740 1.740 15.