Docuslgn Envelope ID.. 1826BBB8-B78045D4-937F-OD72D3040E50 Registei"ed charity no: 1109157 CHURCHGATE CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IVIARCH 2024
Docusign Envelope ID.. 1826BBB8-B78045D4_937F_OD72D3040E50 CHURCHGATE CHARITABLE TRUST INDEX TO THE FINANCIAL STATEI MENTS FOR THE YEAR ENDED 31 IIIIARCH 2024 Page Legal aiid adiniiiisti'ative iiifoi'mation Trlistees Report Accouiitant's Repoit Stateinent of Financial Activities 10 Balance Sheet 11- 16 Notes formiiig pai't of the finaiicial stateinents
Docusign Envelope ID.. 1 B26BB88_B78045D4.937F.OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 IWIARCH 2024 TRUSTEES Mi's Pi'iya Bhayaiii Mi. Aineet Kotecha Mi's Palvi Koteclia (Resigiied on I l Januai'y 2024) CHIEF EXECUTIVE Mi. Ameet Icoteclia PRINCIPAL OFFICE 227 Loiidon Road Roinford Essex RM7 9BQ ACCOUNTANTS KLSA LLP Kalamu House I I Coldbath Squai'e London ECIR5HL BANKERS Bai'clays Bank plc Bai'clays Medium Busiiiess Team 5th Floor 17 Landsdowne Road Ci'oydoii Suri'ey CRO 2BX
Docusign Envelope 10.. 1 B26BBB8.B78045D4_937F_QD72D3040ESO THE CHURCHGATE CHARITABLE TRUST REPORT OF THE TRUSTEI ES FOR THE YEAR ENDED 31 MARCH 2024 The trustees pi-esent theii. aiinual I'epoit and financial statements of the chai'ity for the year elided 31 Mai'cli 2024. The accoiints liave been pi'epai-ed iii accoi'dance with tlie accoiinting policies set out iii iiote I to tlie accoiints and coinply with tlie Cliai'ities Act 201 l and Accoiinti ng and Repoi'tiiig by Chai'ities: Statemeiit of Recoinineiided Pi'actice applicable to cliai'ities prepai'iiig tlieii- accounts in accoi'dance witli tlie Fiiiaiicial Repoi-ling Standai'd appl icable in the UK and RepLiblic of Ii-elaiid (FRS 102) (effective l Jaiiiiai'y 2015) STRUCTURE, GOVERNANCE AND MANAGEMENT Govei'iiin Document The Trust is an uiiincot'poi'ated ti'ust, constituted iindei. a ti'iist deed dated 29 Mai'ch 2005 as ainended by supplemental deed dated 18 JLiiie 2010 aiid is a iEgistei'ed chai-ity, numbei 1109157. Tlie Ti'LlSt entered into a pi'evioiis Declaratioii of Ti'ust dated 19 Noveinber 2004. Tlie trLlSt was establislied with tlie iiitention of cai'iying out the philanthi'opic woi'lc, desiird by the donoi's thi'oiigh tlie carefiil stewai-dsliip of its existing resoui-ces, l'ather tliaii actively fundi'aisiiig. Tlie CIIiiLrhgate Cliai'itable ti'ust specifIcally suppoits the educatioii, poveity and healtlicaL'e sectoi's in oideL- to malce a coiitt'ibution to these ineaningful chai'ities. Reci'uitineiit and A ointment of Ti'ustees There inust be at least thi-ee Tiiistees aiid every trustee is appoiiited by a resolutioii of the Trustees passed at a special meeting. In selecting iiidividuals foi appointmeiit as Tiiistees, the Tiustees take IEgai'd of the skills, knowledge aiid expei'ience needed foi the effective adiniiiisti'ation of the cliai'ity. In addition the individual must be Eighteen yeai's or ovei. and on appoiiitineiit as Ti'ustee tlie individual expressly acknowledges, in whatever way the ti'ustees decide, acceptaiice of tlie office of Ti'ustee of the Charity. Procedures foi. indiiction and trainin of trustees The ti'ustees keep a record of tlie naine and address aiid date of appoiiitments, re-appointments and i'etii'emeiit of each tmstee. Tlie induction pi'ocess foi. newly appointed ti'ustees comprises of the Ti'LlStees make available to each new ti'ustee: A copy of the deed and any amendments made to it. A copy of tlie Charity's latest repoit and statement of accounts.
Docusign Envelope ID.. 1 B26BB88.B780.45D4_937F_OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST REPORT OF THE TRUSTEI ES FOR THE YEAR ENDED 31 IVIARCH 2024- CONT'D aiiization structillE Tlie ti'iistees liold at least two oi'diiiai'y Ineetiiigs each yeai.. Oiie sucli meetiiig iii each yeai. iiivolves the pliysical pi'eseiice of those Ti-LlStees wlio alteiid tlie Ineeting. At the meetiiig the trustees agi'ee the boai'd sti'ategy and areas of activity foi. tlie TrLlSt, incliidiiig consideration of donation making. The day to day administi-atioii of donatioii and the piDcessing aiid Iiaiidling of applications prior to tlie considei'ation by the Ti'ustees is delegated to the chief executives, wliich iiiclLides malciiig decisioii iii ol'der to deal witli cases or iii-gency when a ineetiiig is inipi-actical. Eli addition to depositing money at the banlc, custody of documeiits, keeping and aiithenticatiiig of i'ecords. Rislc mana einent The chai'ity ti-listees have considered the major risks to wliich the charity is exposed aiid have i'eviewed tliose risks and whei-e appi'opi'iate, established systems and procediii'es to maiiage tliose rislcs the chality faces. As Ti'ust does not actively fundraise, any donatioiis Irceived and depositing of Inoney are agreed to soiii'ce documents. OBJECTIVES AND ACTIVITIES The objects of tlie Èi'LlSt ale to: The advanceinent of educatioii The promotion of moi'al oi. spii'itual impi'ovemeiit, in particulai. but not exclusively by tlie provision of facilities to I'eligious foundations The I'elief of poveity The L'elief of sickniess oi. disability The preseiwation of biiildings oi. sites of histoi'ic oi. ai'chitectiii'al iinpoitance The relief and assistance of people who are victims of war or natural disastei's, trouble oi. catastityphe and To provide oi. assist in the provision of facilities for recreation oi. otliei leisure time occupation in the inteiEst of social welfare with tlie object of improviiig the coiiditions of life foi. the inhabitants of the ai'ea of benefit without distinction of sex or political, religious or othei opinions.
Oocusign Envelope ID.. 1B26BBB8-B78045D4_937F_OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST RF.PORT OF THE TRUSTEI Li S FOR THE YEAR EI NDED 31 MARCH 2024_ CONT'D ACHIEVEMENTS AND PERFORMANCE During this period tlie cl)ai'ity has donated to institutioiis foi. the promotion of moral, spii'itual aiid cultLlI'al iinpi-ovenieiit. In addition vai'ious doiiatioiis wei'e inade to institiitions foi'advancement ofediication, poveity aiid iElief of sicktiess disability. FINANCIAL REVIEW The Chai'ity is i'eliaiit on income fi'oin doiiatioiis despite the iiisecurities ovei. funding. tlie incoine dei'ived fi'oin tliis was £200,000 aiid iiitei-est L'eceived fi'om funds geiiei-ated was £nil. Their was also I'eiital income of £725 i'eceived diii'iiig the year. PL'iIICi al Fiindiii Sources The principal fundiiig soui'ce foL' the chai'ity was by way of doiiations. Iiivestinent Polic Tlie Charity's investnient sti'ategy has been to invest surplus fvnds in a I'esidential pi'opeity. The reiital iiicoine eai'ned for the yeai was £725. Resei've Polic Tlie Ti'ustees have exainined the chai'ity's i'equiL'einents foL' reserves iii light of the activities. With no Inatei'ial goveinance or activity costs aiiticipated for tlie foithcoining year, the sti?tegy is to coiitinue to build resei'ves tlii'ough opei'ating sui'pluses. PLANS FOR THE FUTURE The Chai'ity plans to contiiiiie the activities oiitlined above in the foithcoming yeai. subject to satisfactory funding ai'i?ngeinents. VOLUNTEERS AND STAFF The trLlStees talce tliis oppoitunity to thank all the volunteers and staff for their invaluable devoted time iii helping to run the affairs of the chai'ity.
Docusign Envelope ID.. 1 B26BB88.B7804504_937F.OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST REPORT OF THE TRUSTEEI S FOR THI YEAR ENDED 31 MARCH 2024- CONT'D STATEIVIENT OF TRUSTE4 EI S RESPONSIBILITIE4 S The ti'iistees are i-esponsible for PL'epai'ing tlie Ti'ustees, RepoLt aiid the finaiicial stateinents iii accoi'dance with applicable law aiid United Iciiigdoin Accoiinting Staiidai'ds (Uiiited Kiiigdom Geiiei'ally Accepted Accounting Practice). The law applicable to chai'ities in Englaiid and Wales i'eqiiii'es the ti'ustees to prepare rinancial stateineiits foi. eacli financial yeai. which give a ti'ue aiid fair view of the state of affaii's of the cliai'ity and of the incoming I'esoui'ces aiid applicatioii of I'esoiii'ces of the chai'ity foi. that pei'iod. In pi'epai'ing these fiiiancial statemeiits, tlie ti'ustees al'e required to: select suitable accouiiting policies and then apply them consistently. observe the Inethods and principles in the Chai'ities SORP. Inake judginents and estimates that al'e Ltasonable and prudeiit. state wlietheL' applicable accouiiting standards have been followed, subject to any matel'ial departLires disclosed and explaiiied in the financial stateinents, and pi'epai'e tlie financial statements 011 the going conceiii basis uiiless it is iiiappropL late to piesume that the chal ity will coiitinue in biisiness. The tl'LlStees al'e I'esponsible foi. keeping siifficient accoiinting I'ecords that disclose witli reasonable accui'acy at any time the financial position of tlie charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Chai'ity (Accounts and Repoi'ts) Regulatioiis 2008 and tlie pi'ovisions of the trust deed. They are also iesponsible foi. safegLiardiiig the assets of the charity and hence for taking i'easonable steps for the prevention and detection of fraud aiid othei il'i'egularities. Appi'oved by the Ti'ustees on 16 Decembei. 2024 and signed on their belialf by: atMLd bdL 5F605CC7BC5C453... Mr Ameet Kotecha Trustee
Docusbgn Envelope ID.. 1B26BB88_B78045D4.937F_OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST CHARTEREI D ACCOUNTANT'S REPORT TO THE BOARD OF TRUSTEEI S ON THE PREIPARATION OF THI UNAUDITEID filNANCIAL STATEMENTS OF CHURCHGATI CHARITABLE TRUST FOR THE YEI AR ENDED 31 MARCH 2024 Iii ol'der to assist yoii to fulfi l youi. diities iindei. tlie Charities Act 201 I, we have prepai'ed foi. youi. appi'oval Ilie finaiicial statenieiits of Cliui'cligate Chai'itable Ti'ust foi- the yeai. elided 31 March 2024 wliich coinpi'ise of Stateinent of Finaiicial Activity aiid Balaiice Slieet and notes fi'oin tlie cliai'ity's accounting i'ecoi'ds and fi'oin iiifoi'niatioii and explaiiatioiis yoii have giveii us. As a iiiembei. firm of the InstitLlte of Chai'tei-ed Accouiitants in England and Wales (ICAEW), we al'e subject to its etliical and othei. pi'ofessioiial i-equireinents which al'e detailed at www.icaew.com/en/inembei'slre ulatioiis-staiidai'ds-and- iiidance. This repoit is made solely to tlie Board of Trustees of Cliui'chgate Chai'itable Trust, as a body, iii accoi'dance with the tei'ins of oui. engagemeiit letter dated 27 Janiiai'y 2022. Oui. woi'k lias been uiideitaken solely to pi'epare foi. your appi'oval the financial stateinents of Cliui'cligate Chai'itable Ti'ust and state those mattel's tliat we Iiave agi'eed to state to the Boai-d of Trustees of Chuirhgate Clial'itable Trust, as a body, iii this I'epoi't iii accoi-daiice witlI ICAEW Technical Release 07116 . To the fiillest extent peL'initted by law, we do not accept or assuine responsibility to anyone otlier than Chiii'chgate Chai'itable Trust and its Boai'd of Ti'ustees as a body foi. out. woi'lc or foi. this I'epoit. It is yoiii. duty to eiisui'e that Chui'cligate Cliai'itable Ti'ust has Icept adeqiiate accounting i'ecords and to pi'epare finaiicial stateinents that give a trLie aiid fail. view of tlie assets, liabilities, financial position and sui'plus oi. deficit of Cliut'cligate Chai'itable Ti'iist. You considei- tliat Chiii'cligate Cliai'itable Ti'iist is exempt fi-om botli tlie statutoi'y audit reqiiiiEinent and i'equiremeiit for an Independent Examination foi. the yeai,. We have not been instructed to carly out an audit oi. a review of tlie fiiiancial statements of Chiirchgate Chai'itable Trust. For this i'eason, we have not verified tlie accui'acy or completeness of the accounting recoi'ds or infoi'mation and explaiiatioiis you liave given to us and we do not, tlierefoi'e, expi'ess any opinion on the statutory financial statements. ISA LLP Chal'tered Aeeollntants Kalamu Hoiise I I Coldbath Squai'e London ECIR5HL 16 Decembei. 2024
Docusign Envelope ID.. 1 B26BBB8-B78045D4-937F-OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST STATEIVIENT OF FINANCIAL ACTIVITIES FOR THE YEAR EI NDED 31 MARCH 2024 Uiii'esli'icleil Fiiii(I,s 2024 Uiii'e.sli'icleil Fiiiicls 2023 Note Incomiiig resources liieoming i'esoiircesfroni geiieraleil fiiiicls.. Donations i'eceived Investinent income 200,000 i 00,000 725 17,075 Total incoming resources 200,725 117,075 Resoiirces expeniled.. Cliai'itable activities Administi'ation costs Govei'nance costs 48,078 4,331 366 66,916 6,506 480 Total resources expended 52,775 73,902 Net gainsl{losses) on fixed assets 100,000 Net movement in funds 247,950 43,173 Reconciliation of funds Total funds brought forward 417,492 374,319 Total fiinds carried forTrvard 665,442 417,492 All incoming iesoiirces and i'esoui'ces expended derive fi'oin continuing activities.
Docusign Envelope ID.. 1 B26BBB8_8780_45D4_937F_OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST BALAIYCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed Asset Tangible Assets 450,000 350,000 cui.rent Assets Debtors Cash at baiik and in haiid 11 72 68,505 68,577 216,162 216,162 Creditoi's: amouiits falling due withiii one yeai. 12 720 1,085 Net cuii'ent assets 215,442 67,492 Net Asset 665,442 417,492 UnR'estricted funds Geiiei'al fuiids 13 665,442 417,492 Total charity funds 665,442 417,492 Tlie notes at page I I to 17 foi'm part of tliese accounts Appi'oved by the Board of Ti'ustees on 16 DecembeL' 2024 and signed on its behalf by Docu8lllnqd by.. AIMLLI 5Ffjo51BC5¢4S3... Mi. Ameet Kotecha (Ti'ustee) io
Docuslgn Envelope ID.. 1 B268BB8-B78045D4-937F-0072D3040E50 THE CHURCHGATE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IIQIRCH 2024 ACCOUNTING POLICIES (a) Basis of preparation Tlie financial stateinents Iiave been pi'epai'ed in accoL'daiice with tlie Chui'chgate Chai'itable Ti'LlStees Coiistitiition, tlie Chai'ities Act 201 l and 'Accouiiting aiid Repoi'tiiig by Cliai'ilies: Slateiiient of Recoinmeiided Pi'actice applicable to chai'ities pi'epai'iiig theii. accoiiiits iii accoi'daiice with the Financial Repoi'tiiig standai'd appl icable iii tlie UK aiid Republ ic of Ii'eland (FRS 102) (as ameiided fol. accoiiiitiiig pei-iods coJninen¢iiig froin l Janiiaiy 2016). Tlie accoiints have been pi'epai'ed linder tlie histoi'ical cost coiivention Lnodified to incliide the i'evaliiatioii of cei'taiii fixed assets. The chai'ity has talcen advantage of the exemption in Fiiiancial Repoi'ting Standai'd No I fi'oin the i'equii'einent to pi'oduce a cash flow statement on tlie gl'oiinds tliat it is a small chai'ity. (b) Funds structui"e Uni'esti'icted incoine funds coinprise those fuiids wliicli the ti'ustees al-e flee to use for any piii'pose in furthei'ance of the charitable objects. Incoming resources Incoining resoui'ces I'epresent the total incoine receivable during the year, whicli is recognised on the accrLial basis of accounting except for:. i) All donations, incliidiiig gift aid iii relation thereto, al'e iiicluded iii the financial statements in the yeai. in which they al'e i'eceived. ii) Investmeiit iiicome compi'ising of reiital incoine and bank interest income is included on a receivable basis. (c) (d) Resources expended Liabilities are i'ecognised as I'esources expended as soon as thei'e is a legal oi. constructive obligation coinmitting the chai'ity to the expeiiditui'e. All expenditure is accounted foi. on an accriial basis and has been classified undei. heading tliat aggi'egate all costs related to the categoiy. Irrecoverable VAT (e) AII VAT which cannot be recovei'ed is I'eported pal't of the expenditure to whicli it relates. (D Allocation of overhead and support costs The charity has not incuned any overheads oi. support costs, as the day to day opei'ations al'e coiiducted by the Chief Executives and volunteers without any remunei'ation or benefits.
Docusign Envelope IO.. IB26B8B8-B78045D4-937F-OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR EI NDED 31 MARCH 2024- CONT'D (g) Governance costs Govei'i)aiice costs coinpi'ise al I costs iiivolving tlie piiblic accouiitability of the chai'ity and its compliaiice witli i'egiilatioii aiid good pi-actice. These costs iiiclude costs i-elated to staluloiy aLidit and legal fees. (h) Tangible fixed assets and dei)reciation Taiigible fixed assets othei. tliaii fi-eehold land al'e stated at cost less depreciation. Depi'eciatioii is provided at l'ates calcLilated to WL'ite off the cost less estiinated residual valLie of each asset ovei- its expected usefiil life, as follows: Investinent propeities are iiiitial ly I'ecoi'ded at cost and subsequently at theii. opeii Inai-ket valiie and are Iiot depreciated in accoi'daiice witli tlie applicable accountiiig staiidai'd, FRS 102, Accoiinting foL- investinent propeities. Depreciation is pi'ovided only on those iiivestmeiit pi'opeities whicli are leaseliold and wliei'e the unexpii'ed lease tei-ln is less tlian 20 yeaL'S. (i) Fixed assets investmeiits Investinents are included at cost. Any diminutioii in the value is talcen to tlie statemeiits of fiiiaiicial activities. TAXATION As a charity, CIIuL'cligate Cliaiitable Ti'ust is exempt fi'om tax on income falliiig witliin section 505 of tlie Taxes Act 1988 to the extent tliat these al'e applied to its chai'itable objects. No tax chai'ge has ai'isen iii the Charity. 12
Docusign Envelope ID.. 1826BBB8-B78045D4-937F-OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THL YEAR ENDED 31 MARCH 2024- CONT'D DONATIONS 2024 Total 2023 Total Donations 200,000 200,000 i 00,000 i 00,000 INVESTIWIENT INCOME 2024 Total 2023 Total Pioperty i'ental income 725 725 17,075 17,075 ANALYSIS OF CHARITABLE EXPENDITURE The Chai'ity has uiideittaken its chai'itable activities thi'ough making donations to number of institiitions in fuitherance of its charitable activities. 2024 Total 2023 Total Advanceinent of educatioii, relief of sickness and poverty 48,078 48,078 66,916 66,916 13
Docusign Envelope ID.. 1B26BBB8_B78045D4_937F_OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024- CONT'D ADIVIINISTRATION COSTS 2024 Total 2023 Total Insurance Pi'ofessional fees License Legal fees Property i'epaii's & Inaiiitenaiice 283 72 298 1,716 920 2,350 1,626 4,331 3,572 6,506 ANALYSIS OF GOVEI RNANCE COSTS 2024 Total 2023 Total Accoiintancy Baiilc chai'ges 360 360 120 480 366 STAFF REMUNERATION The Charity had no paid employees during the period. Volunteers Iiave provided SUPPOLt to the general governance of tlie chai'ity or suppoit services to the cliai'itable activities. 14
Docusign Envelope ID.. 1 B26BBB8-B78045D4-937F-OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IVIARCH 2024- CONT'D TANGIBLE FIXED ASSEI TS Investment Property Total Fail- value As at 01 Api-il 2023 Net gains throiigh fair value adjiistmeiits 350,000 350,000 i 00,000 As at 31 Marcli 2024 450,000 350,000 The fail. vallie of tlie investment pi-opeity has been ai'i'ived based on valiiation made on an open Inai'ket valiie basis. Iii tlie opinioii of the tL'UStees, the inat'ket value at tlie balance sheet date is not matei'ially diffei'ent to this valLiation. 10. DEBTORS 2024 Total 2023 Total Pi'epayments 72 72 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Total 2023 Total Acci'uals aiid defei'i'ed income 720 720 1,085 1,085 15
Docuslgn Envelope ID.. 1B26BBB8-B78045D4-937F-OD72D3040E50 THE CHURCHGATE CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024- CONT'D 12. MOVElVtENT IN FUNDS At 01 April 2023 Incoming Resoui'ces Outgoiiig Resoiirces At 31 March 2024 Uiirestricted fuiids: General funds 417,492 300,725 (52,775) 665,442 Total fuiids 417,492 300,725 52,775 665,442 13, RELATED PARTIES None of the ti'ustees that sei'ved during the yeai. I'eceived any benefits not. wet'e they party to aiiy Ii'ansactions that wei'e eiitei'ed iiito by tlie cliai'itable ti'ust. 16