## **TRINITY CHURCH BRENTWOOD (a company limited by guarantee)** 

## **REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 AUGUST 2022** 

**Charity Number: 1112705 Company Number (England and Wales): 05642162** 



## **TRINITY CHURCH BRENTWOOD** 

## **REPORT AND FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

|**CONTENTS**|**Page**|
|---|---|
|Reference and administrative details|1|
||2|
|Independent<br>report|8|
|Statement of financial activities|11|
|Balance sheet|12|
|Statement of cash flows|13|
|Notes to the financial statements|14|





## **TRINITY CHURCH BRENTWOOD** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHURCH** 

|**Trustees/Directors**|Lelia Bailey|
|---|---|
||Juan Esquivel|
||Liviu Mercioniu|
||Omolade Oshunremi|
||Casian Sala (Chair)|
||Tirrian Sharp|
||Wesley Vaughan|
||Christopher Whealy|
|**Registered office address**|Haysmacintyre LLP|
||10 Queen Street Place|
||London|
||EC4R 1AG|
|**Auditors**|Haysmacintyre LLP|
||10 Queen Street Place|
||London|
||EC4R 1AG|
|**Bankers**|Barclays Bank plc|
||Broadgate Corporate Banking Centre|
||155 Bishopsgate|
||London|
||EC2M 3XA|
|**Charity registration number**|1112705|
|**Company registration number**|05642162 (England and Wales)|



1 



## **TRINITY CHURCH BRENTWOOD** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

The Board of Trustees present the statutory report with the accounts of Trinity Church Brentwood for the year ended 31 August 2022. 

memorandum and articles of association, applicable laws and the requirements of the Statement of Recommended Practice for Charities (SORP) (Second Edition, effective 1 January 2019), the Companies Act 2006 and with FRS 102. 

## **1.    TRUSTEES** 

The Trustees (who are also directors of Trinity Church Brentwood for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company of its incoming resources and the application of those resources, including the income and expenditure, of the charitable company for that period.  In preparing these financial statements, the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the Charities SORP; 

- Make judgments and estimates that are reasonable and prudent; 

- State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.  They are also responsible for safeguarding the assets of the charitable company and taking any such reasonable steps to prevent and detect fraud or other irregularities. 

## **Provision of information to auditors** 

So far as each of the trustees is aware at the time the report is approved: 

- the trustees have taken all reasonable steps to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## **Trustee and employee liability insurance** 

Trustees and employee liability insurance has been purchased by the charity as permitted by the Charity Commission 

## **Trustee recruitment, induction and training** 

Trustees are nominated by the Church congregation, candidates are screened and formally approved for appointment by the Trustee Board.  All new Trustees are provided with information on the duties and responsibilities of being a Trustee. 

All Trustees are encouraged to undertake continuation training from time to time, including attending relevant courses and seminars held within and outside the charity. The Trustees are also kept informed on charity sector issues by professional advisors, fact sheets and newsletters from auditors. 

2 



## **TRINITY CHURCH BRENTWOOD** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Remuneration of key management personnel** 

The trustees recognise that as a board, they comprise the key management personnel of the charity in charge of directing, controlling, running and operating the Charity on a day to day basis. With the exception of Rev Wesley Vaughan who, as a minister of religion, is permitted by the Articles of Association to be remunerated, all trustees give their time freely and no trustee has received any remuneration in the year. 

## **2. STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The Board of Trustees sets the overall strategic policy framework and budget of the charity and is responsible for safeguarding its assets. The Trustees usually meet formally on a fortnightly basis. Discussions and resolutions agreed within meetings are recorded in the meeting minutes. The Trustees have also held formal meetings with the Leadership Group. 

The Board has delegated responsibility for the day-to-day management to the following department heads: 

- Church spiritual activities 

- Health & Safety 

- Data protection and safeguarding 

- Finance & Insurance 

## **Public Benefit** 

Charity Commission. The manner in which it fulfils this obligation is detailed in the sections below. 

## **Principal aims and activities Mission Statement** 

We are a family church.  We believe in people coming face to face with the reality of the living, miracle-working God. With the Bible as our touchstone, we proclaim the Gospel of Jesus Christ to all, teaching the principles of God and equipping people old and young to fulfil His purposes. 

Christian values through the advancement of religion and the propagation and furtherance of the Gospel of God concerning His Son Jesus Christ and the preaching and teaching of the Word of God. 

## **3. OBJECTIVES & ACTIVITIES** 

The governing document is the memorandum and articles of association last amended in March 2019. The objects of the charity are the advancement of religion and the propagation and furtherance of the Gospel of God concerning his son Jesus Christ and the preaching and teaching of the Word of God throughout the world. 

Our main strategic objectives are: 

- To reach the lost, through traditional methods of preaching and teaching the Word of God in church meetings, in conjunction with the use of modern media, such as internet delivery. 

- To work with other organisations locally and in a broader geographic area to reach out to the lost and demonstrate Christian Faith in action. 

The Trustees keep the activities under continual review to ensure that we are achieving our main aim of reaching people with the gospel. 

3 



## **TRINITY CHURCH BRENTWOOD** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **4. ACHIEVEMENTS AND PERFORMANCE** 

## **Pastoral Report** 

Trinity Church is a gathering of believers in Jesus Christ from the Brentwood and surrounding district. This church is aligned with the Elim denomination through its association with Elim Network. 

The purposes of Trinity Church encompass a number of areas: 

- 1) To 

- 3) To raise believers in Christian maturity; 

- 4) To release people to biblically meet the needs of others locally within the world in which they engage; 

- 5) To maintain a place of worship for the meeting of believers; 

6) To observe th 

- 7) The solemnisation of marriages; 

- 8) The dedication of children and infants; 

- 9) To undertake funeral services; 

10) To provide needs-led leadership and departments, to promote the work of God at home and abroad in preaching, teaching pastoral care and social assistance/ministries. 

## **Review of progress and achievements:** 

Pastor, along with the church leadership team have provided the overall spiritual oversight of the church. The year of 2022 has seen the continuing implementation and embedding of the purposes throughout the life of the church. In summary, the purposes are to: 

1. Reach people for Jesus (Reach) 

2. Raise them to Christlike maturity (Raise) 

3. Release them for ministry in the church and the world in which they engage (Release) 

Hybrid weekly online/in-person church services continue to operate, however, since Covid restrictions have been lifted, departments such as the prayer meetings, departmental meetings, leadership and trustees meetings have returned to in-person gatherings. 

Pastoral care has been delivered to the congregation through attendance of those at the weekly Sunday meetings, Wednesday night prayer meetings, additional midweek departmental meetings and training opportunities for the church. In addition, the congregation has had the opportunity to meet the Pastor and leadership team individually or as a collective team. These meetings have been delivered in person, via online or by phone. Such pastoral meetings have helped to deepen the connection of trust with the Pastor/the leadership team and the congregation and provide opportunities for discipleship and pastoral care. These meetings are scheduled to continue in perpetuity. 

Pastoral home and hospital visiting has also taken place upon request and has been delivered by both the pastor and the leadership team or designated other departmental leaders. 

All departments in 2021/2022 have received up to date training around the purposes of the church. In 2022, a new Youth Pastor was appointed to lead and oversee the restructuring of the youth department aiming to meet the spiritual needs across the youth spectrum. 

The local education charity, Brentwood Schools Christian Worker Trust have taken up residency in a Trinity Church building (the former nursery site) aiming to strengthen our connection with the district schools. 

The Pastor and the leadership have also engaged with the wider Brentwood Christian community through supporting: Foodbank, Brentwood Schools Christian Workers Trust, Little Doves Christian Pre-School, Brentwood Churches Together and the minister fraternals. 

4 



**TRINITY CHURCH BRENTWOOD** 

**TRUSTEES’ REPORT (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Trustees’ activities** 

With the implementation of the leadership team, the trustees have now been released to focus on their compliance and charity-driven activities in line with the spiritual purposes of the church. The trustees will continue to work on shaping the relationship between the leadership team and trustee board and continue to establish open communication and accountability through the Terms of Reference. 

Together with the leadership team we have worked together to release several donations to other charities within the Brentwood community and beyond. 

Considering the level of our reserves, the trustees engaged with charity specialist providers to create an investment policy, with the purpose of protecting the capital and generating surplus that we intend to use in line with the church purposes. The same provider has been retained to work with the trustees in appointing and monitoring the investment made. 

The trustees, together with the leadership team, have evaluated the best use of the large, Grade II listed building in line with the church purposes. The trustees appointed planning consultants to propose plans for making the building viable, activity which is ongoing. 

The church has continued to receive strong and committed donations. Church growth has also resulted in an increased amount of people giving to the church. We have updated the risk register on this matter. However, we recognise that pandemic longer-term impacts, along with the recession and energy costs increases may cause a drop in member’s income and affect the overall level of donations. We are monitoring the situation on a monthly basis and we will be able to respond in a timely manner to our expenditure as necessary. 

An Operations Manager has been appointed to manage the day to day running of the Trinity Church site, including the grounds, the church and other related events, functions and resources. This role will work closely with the Trustee Board, the Church Leadership Team, the operational team, and volunteers, as well as having regular interaction with the church congregation. The Operations Manager role is therefore integral to the life and work of Trinity Church, in the advancement of the Christian faith. 

In addition, an Office Administrator was appointed to support the Operations Manager in the delivery of operations relating to the Trinity Church site. 

Ongoing safeguarding training for department leaders and volunteers has also taken place. Additional training in Food hygiene has been provided and training in relevant skills supported as needed. 

## **Other achievements** 

We continue to make the ‘Fellowship Hall’ available to various social outreach initiatives. We have also allowed other church congregations to use the main church for funerals, Christian comedian, concerts etc. 

The swimming pool was reopened in 2022 and used along with the outdoor grounds throughout the summer by Trinity church attendees and their guests. 

## **5. FINANCIAL REVIEW** 

The charity recorded a deficit for the year of £793,975 compared with a surplus of £4,489,687 in 2021, mainly driven by the gain on disposal from the sale of Brizes Park in 2021.  Total income from church activities was £338,996, a fall of £22,932 (ignoring Brizes Park). 

Expenditure increased from £613,790 in 2021 to £668,071.  The Trustees will continue to review the costs of its activities with the aim of increasing efficiency and focusing on those areas that maximise the public benefit. 

5 



## **TRINITY CHURCH BRENTWOOD** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **Reserves policy** 

At the year end, the charity had free reserves, defined as unrestricted funds less those tied up in fixed assets, restricted and designated funds, of £4,579,759 (2021: £5,396,737).  During the financial year, the charity made various donations totalling £272,207 towards Christian education and other charitable causes. The other significant reduction in reserves was attributed to the loss of £464,900 on the investments made. 

The trustees continually review their working capital needs and will continue to monitor the free reserves position to ensure that the charity continues to have a firm base from which to pursue its objectives. 

## **Principal Risks and uncertainties** 

## _**Risk management**_ 

The Board of Trustees has ensured that the process of identifying, assessing and mitigating risk is linked to the objectives of Trinity Church Brentwood and assessed regularly. The process covers key risk areas, and risk management is ongoing and embedded within its management and operating procedures. The process covers all areas of risk - financial, governance, operational and reputational, and is focused primarily on major risks. 

The Trustees are satisfied that systems are in place to mitigate any exposure to major risks but recognise the need to review and make appropriate changes to its governance arrangements. The principal risks and uncertainties identified by the charity are as follows: 

## 1. Church site 

There has been restricted investment into the Church estate over a sustained period, resulting in operational limitations and raising the risk profile associated with health and safety and security.  The Church continues to maintain a register of operational works required.  Health and safety is monitored by the Operations Manager and continues to be a priority.  An external Health and Safety Advisor provides external monitoring of Health and Safety as well as to provide advice on new legislation and promote better adherence to safe working practices. An external advisor provides HR support to ensure employment legislation and procedures are up to date and complied with. 

## 2. Investment portfolio 

The Board has a legal duty to ensure the funds held by the Charity are invested wisely and in line with the vision and purposes of the Church.  Epoch Consulting was engaged and the ethical investment policy is now in place to safeguard the long term investment strategy.  The Board will continue to monitor the portfolio against peer group benchmark and based on the advice provided by the investment managers. 

## **6. FUTURE PLANS** 

We are committed to being a welcoming church, serving both its congregation and also seeking appropriate opportunities to serve those in the local and wider community. 

We will continue to strengthen and develop links with other local churches for the mutual benefit of spiritual edification, and to combine efforts to support the needs of our community, either providing direct support or through partnering with associated charities. 

Together with our Senior Pastor and leadership team, the trustees will be seeking to set in place a clear governance structure, defining the church ministry and trusteeship roles and responsibilities and the mutual accountability between them. 

6 



## **TRINITY CHURCH BRENTWOOD** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **THANKS** 

Our divine purposes and seeking to fulfil His will in what we do. 

## **APPROVAL** 

In preparing this report the Trustees have taken advantage of the exemptions available to small companies by the Companies Act. 

This report was approved by the Trustees on 

2023 and signed on their behalf, by: 

## **Casian Sala** 


## **Trustee** 

7 




## **Opinion** 

We have audited the financial statements of Trinity Church Brentwood for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

   - August 2022 and of the charitable 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. cial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the . Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the 

company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

has been prepared in accordance with applicable legal requirements. 

8 




## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the (which incorporat 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept by the charitable company; or 

- the charitable company financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit; or 

   - and from the 

- requirement to prepare a strategic report. 

## **Responsibilities of trustees for the financial statements** 

2, the trustees (who are also the directors 

of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

e 

as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. 

## **r the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material ur opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to Charity law, employment law, health and safety regulations, safeguarding and GDPR, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the reporting requirements under the Charities SORP and FRS 102, the Companies Act 2006, the Charities Act 2011 and payroll taxes. 

financial statements (including 

the risk of override of controls), and determined that the principal risks were related to improper recognition of income and management bias in accounting estimates and judgements. Audit procedures performed by the engagement team included: 

- 

- Inspecting correspondence with regulators and tax authorities; 

- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; 

- 

- Identifying and testing journals based on risk profile; and 

- Challenging assumptions and judgements made by management in their critical accounting estimates. These relate to the estimation of the useful economic lives of fixed assets. 

9 




Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Counc www.frc.org.uk/auditorsresponsibilities. 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 


**Jane Askew (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditor London EC1R 4AG** 

**3** 

10 



## **TRINITY CHURCH BRENTWOOD** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

|||**Unrestricted**|**Designated**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**2022**|**2021**|
||**Notes**|**£**|**£**|**£**|**£**|**£**|
|**INCOME FROM:**|||||||
|**Charitable activities: -**|||||||
|Donations||295,905|-|24,154|320,059|286,181|
|**Investment income**||3,607|-|-|3,607|4,178|
|**Lettings income**||10,414|-|-|10,414|21,299|
|**Other income**||4,916|-|-|4,916|4,406|
|**Surplus on sale of fixed assets**||-|-|-|-|4,787,413|
|||-------------------|----------------|------------------|-------------------|-------------------|
|**Total income**|2|314,842|-|24,154|338,996|5,103,477|
|||--------------------|----------------|-----------------|-------------------|-------------------|
|**EXPENDITURE ON:**|||||||
|**Charitable activities:-**|||||||
|Church||605,502|36,460|24,285|666,247|591,309|
|Conferences and Events||1,779|-|-|1,779|1,498|
|Book Shop||45|-|-|45|20,983|
|||--------------------|-----------------|--------------------|--------------------|--------------------|
|**Total expenditure**|2|607,326|36,460|24,285|668,071|613,790|
|||--------------------|----------------|---------------------|--------------------|--------------------|
|**Net (expenditure)/income**||(292,484)|(36,460)|(131)|(329,075)|4,489,687|
|Losses on investments|5|(464,900)|-|-|(464,900)|-|
|||---------------------|----------------|-----------------|--------------------|--------------------|
|||(757,384)|(36,460)|(131)|(793,975)|4,489,687|
|Transfers between funds|9,10|(24,683)|24,683|-|-|-|
|||---------------------|----------------|-----------------|--------------------|--------------------|
|Net movement in funds||(782,067)|(11,777)|(131)|(793,975)|4,489,687|
|Funds brought forward||6,986,004|39,117|6,173|7,031,294|2,541,607|
|||---------------------|----------------|-----------------|-------------------|-------------------|
|Funds carried forward||6,203,937|27,340|6,042|6,237,319|7,031,294|
|||===========|========|========|=========|=========|



There were no recognised gains and losses other than those included above. 

The accompanying accounting policies and notes form an integral part of these financial statements. 

Full comparatives are shown in note 14. 

All the activities above relate to continuing activities. 

11 



**COMPANY NUMBER: 05642162** 

## **TRINITY CHURCH BRENTWOOD** 

## **BALANCE SHEET** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

||||**2022**||**2021**|
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**FIXED ASSETS**||||||
|Tangible assets|4||1,627,178||1,589,267|
|Investment assets|5||4,035,100||-|
||||-------------------||-------------------|
||||5,662,278||1,589,267|
|**CURRENT ASSETS**||||||
|Debtors|6|19,727||13,703||
|Cash at bank and in hand||688,764||5,567,213||
|||-----------------||-----------------||
|||708,491||5,580,916||
|**CREDITORS: amounts falling due**||||||
|**within one year**|7|(133,450)||(138,889)||
|||-----------------||-----------------||
|**NET CURRENT ASSETS**|||575,041||5,442,027|
||||-------------------||-------------------|
|**NET ASSETS**|||6,237,319||7,031,294|
||||==========||==========|
|**RESERVES**||||||
|Unrestricted funds|8||6,203,937||6,986,004|
|Designated funds|9||27,340||39,117|
|Restricted funds|10||6,042||6,173|
||||--------------------||--------------------|
||||6,237,319||7,031,294|
||||==========||==========|



The financial statements are prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Board of Trustees on                     2023 and were signed below on its behalf by: 

**Casian Sala** 

**Trustee** 


The accompanying accounting policies and notes form an integral part of these financial statements. 

12 



## **TRINITY CHURCH BRENTWOOD** 

## **STATEMENT OF CASH FLOWS** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

||**Note**|**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
|**Cash flows from operating activities**|**A**|(294,200)|(450,938)|
|||-------------------|-------------------|
|**Cash flows from investing activities**||||
|Interest income||3,607|4,178|
|Interest paid||(1,897)|(2,254)|
|Purchase of tangible fixed assets||(85,401)|(85,267)|
|Purchase of investment assets||(4,500,000)|-|
|Sale of tangible fixed assets||-|6,083,179|
|||-------------------|-------------------|
|Cash flows from investing activities||(4,583,691)|5,999,836|
|**Cash flows from financing activities**||||
|Repayment of bank loans||(558)|(107,797)|
|||-------------------|-------------------|
|(Decrease)/increase in cash and cash equivalents in the year||(4,878,449)|5,441,101|
|||-------------------|-------------------|
|Cash and cash equivalents at the beginning of the year||5,567,213|126,112|
|||-------------------|-------------------|
|Total cash and cash equivalents at the end of the year||688,764|5,567,213|
|||==========|==========|



|**A: RECONCILIATION OF NET (EXPENDITURE)/INCOME**|**TO NET CASH**|**FLOW FROM OPERATING**|**FLOW FROM OPERATING**|
|---|---|---|---|
|**ACTIVITIES**||||
|||**2022**|**2021**|
|||**£**|**£**|
|**Net (expenditure)/income for the reporting period**||(793,975)|4,489,687|
|**Adjustments for:**||||
|Investment income||(3,607)|(4,178)|
|Interest paid||1,897|2,254|
|Depreciation charge||47,490|38,668|
|Surplus of sale of fixed assets||-|(4,787,413)|
|Losses on investment assets||464,900||
|Decrease in stock||-|19,068|
|(Increase)/decrease in debtors||(6,024)|(1,595)|
|Increase/(decrease) in creditors||(4,881)|(207,429)|
|||-------------------|-------------------|
|**Cash flows from operating activities**||(294,200)|(450,938)|
|||=========|==========|
|**B: ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)**||||
||At start|Cash|At end|
||of year|Flows|of year|
|Bank accounts|5,567,213|(4,878,449)|688,764|
|Loans < 1 year|(4,841)|559|(4,282)|
||------------------|------------------|------------------|
||5,562,372|(4,877,890)|684,482|
||=========|=========|=========|



13 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1.  ACCOUNTING POLICIES** 

## **BASIS OF PREPARATION** 

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Statement of Recommended Practice for Charities (SORP) (Second Edition, effective 1 January 2019) and the Companies Act 2006. 

The accounting policies set out below have been applied in preparing these financial statements.  The financial statements are drawn up under the historical cost convention. 

The Charity is a Public Benefit Entity registered as a charity and company in England and Wales, it was registered on 1 December 2005 (charity number 1112705 and company registration number 05642162). 

## **Going concern** 

Having reviewed the funding facilities available to the Charity together with the future projected cash flows, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future and consider that there were no material uncertainties over the Charity to adopt the going concern basis in preparing the financial statements. 

## **Donations and gifts** 

All monetary donations and gifts are included in full in the statement of financial activities when receivable, provided that there are no donor-imposed restrictions as to the timing of the related expenditure, in which case recognition is deferred until the pre-condition has been met. 

Legacies are included in the statement of financial activities when the charity is advised by the personal representative of an estate that payment will be made and the amount involved can be quantified. 

Donations under Gift Aid together with the associated income tax recoveries are credited as income when the donations are receivable. 

## **Investment income** 

Investment income, including associated income tax recoveries, is recognised when receivable. 

## **Expenditure** 

Expenditure is accounted for on an accruals basis. The irrecoverable element of VAT is included with the item of expense to which it relates. 

iciaries. Governance costs comprise the costs of running the charity, including strategic planning for its future development, internal and external audit, and costs of complying with constitutional and statutory requirements. 

## **Fund accounting** 

Restricted funds are funds used for purposes as specified by the donor.  Related expenditure is charged direct to the fund. 

Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Trustees for specific projects. 

14 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1.  ACCOUNTING POLICIES (continued)** 

## **Tangible fixed assets and depreciation** 

Tangible fixed assets are stated at cost net of depreciation.  Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets other than freehold land over their estimated useful economic lives. 

The rates generally applicable are: 

Freehold properties 2% straight line Freehold improvements 2-10% straight line Plant and equipment 10% straight line Furniture and fittings 10% straight line Motor vehicles 25% reducing balance Computer equipment 33.3% straight line 

## **Leased assets** 

Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives.  The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the statement of financial activities over the period of the lease. 

All other leases are regarded as operating leases and the payments made are charged to the statement of financial activities on a straight line basis over the lease term. 

## **Taxation** 

By virtue of its charitable status, Trinity Church Brentwood is not liable for corporation tax on its charitable activities under the Corporation Taxes Act 2010. 

## **Financial instruments** 

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Investments are valued at their market value on the balance sheet date. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions. 

## **Debtors** 

Trade debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Creditors** 

Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Employee benefits** 

## _Pensions_ 

The charity contributes into a Defined Contribution Pension Scheme on behalf of its paid employees. The pension costs charged against incoming resources are the employer's contributions to employee's own private pension scheme in the accounting period. Other than these contributions, the Charity has no liability to these schemes. 

15 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **1.  ACCOUNTING POLICIES (continued)** 

## **Critical judgements and estimates** 

In the application of the accounting policies, the Trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.  The trustees consider that the only critical estimate or judgement relate to the estimation of the useful economic lives of fixed assets. 

## **2. ANALYSIS OF INCOME AND EXPENDITURE** 

|||**Conferences**|**Book**||||**Total**|
|---|---|---|---|---|---|---|---|
||**Church**|**and Events**|**Shop**|**Designated**|**Restricted**|**Total 2022**|**2021**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Income**||||||||
|Donations and legacies|295,905|-|-|-|24,154|320,059|279,946|
|Furlough Receipts|-|-|-|-|-|-|6,235|
|Investment income|3,607|-|-|-|-|3,607|4,178|
|Lettings income|10,414|-|-|-|-|10,414|21,299|
|Other income|2,348|-|2,568|-|-|4,916|4,406|
|Surplus on sale of fixed||||||||
|assets|-|-|-|-|-|-|4,787,413|
||------------------|------------------|-----------------|-------------------|---------------------|--------------------|--------------------|
|**Total income**|312,274|-|2,568|-|24,154|338,996|5,103,477|
|**Expenditure**||||||||
|Staff costs|118,682|-|-|-|-|118,682|173,821|
|Premises and equipment|128,771|-|-|-|-|128,771|80,315|
|Operating costs|56,319|-|45|-|-|56,364|83,768|
|Depreciation|47,491|-|-|-|-|47,491|38,668|
|Finance costs|1,897|-|-|-|-|1,897|2,254|
|Governance|30,841|-|-|-|-|30,841|51,195|
|Other costs|10,039|1,779|-|-|-|11,818|5,146|
||------------------|------------------|----------------|----------------|------------------|--------------------|--------------------|
||394,040|1,779|45|-|-|395,864|435,167|
|Grants and donations|211,462|-|-|36,460|24,285|272,207|178,623|
||-------------------|-------------------|-----------------|-------------------|--------------------|--------------------|--------------------|
|**Total expenditure**|605,502|1,779|45|36,460|24,285|668,071|613,790|
||------------------|------------------|-----------------|------------------|-------------------|--------------------|--------------------|
|**Net (expenditure)/**||||||||
|**income**|(293,228)|(1,779)|2,523|(36,460)|(131)|(329,075)|4,489,687|
||=========|=========|========|=========|=========|=========|=========|



16 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **2. ANALYSIS OF INCOME AND EXPENDITURE (continued)** 

|||**Conferences**|**Book**||||
|---|---|---|---|---|---|---|
||**Church**|**and Choir**|**Shop**|**Designated**|**Restricted**|**Total 2021**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|**Income**|||||||
|Donations and legacies|279,946|-|-|-|-|279,946|
|Furlough Receipts|6,235|-|-|-|-|6,235|
|Investment income|4,178|-|-|-|-|4,178|
|Lettings income|21,299|-|-|-|-|21,299|
|Other income|728|-|3,678|-|-|4,406|
|Surplus on sale of fixed|||||||
|assets|4,787,413|-|-|-|-|4,787,413|
||------------------|------------------|-----------------|-------------------|---------------------|--------------------|
|**Total income**|5,099,799|-|3,678|-|-|5,103,477|
|**Expenditure**|||||||
|Staff costs|173,821||-|-|-|173,821|
|Premises and equipment|80,315||-|-|-|80,315|
|Operating costs|62,785||20,983|-|-|83,768|
|Depreciation|38,668||-|-|-|38,668|
|Finance costs|2,254||-|-|-|2,254|
|Governance|51,195||-|-|-|51,195|
|Other costs|3,648|1,498|-|-|-|5,146|
||------------------|------------------|----------------|----------------|------------------|--------------------|
||412,686|1,498|20,983|-|-|435,167|
|Grants and donations|150,130|-|-|28,362|131|178,623|
||-------------------|-------------------|-----------------|-------------------|--------------------|--------------------|
|**Total expenditure**|562,816|1,498|20,983|28,362|131|613,790|
||------------------|------------------|-----------------|------------------|-------------------|--------------------|
|**Net income/**|||||||
|**(expenditure)**|4,536,983|(1,498)|(17,305)|(28,362)|(131)|4,489,687|
||=========|=========|========|=========|=========|=========|



17 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

|**3.**|**TRUSTEES AND EMPLOYEES**|**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
||Staff costs during the period were as follows:|||
||Gross salaries and wages|97,628|129,258|
||Social security costs|4,780|8,185|
||Pension costs|4,335|5,573|
||Benefits|959|1,146|
||Redundancy and termination payments|-|17,170|
||Contract staff|10,980|12,489|
|||------------------|--------------------|
|||118,682|173,821|
|||========|=========|
|||**2022**|**2021**|
|||**Number**|**Number**|
||Ministry and ministry support|1|2|
||Administration|1|2|
||Premises and Other|1|1|
|||------------|-----------|
|||3|5|
|||======|======|



No employees received emoluments exceeding £60,000 during the year (2021: None). 

The charity contributed to a Defined Contribution Pension Scheme on behalf of the above employee during the prior financial year. 

In 2022 and 2021 all key management members were Trustees and were unremunerated. 

18 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

|**4.**|**TANGIBLE FIXED ASSETS**|**Land and**|**Plant and**|**Furniture**|**Motor**||
|---|---|---|---|---|---|---|
|||**Buildings**|**Equipment**|**and fittings**|**Vehicles**|**Total**|
|||**£**|**£**|**£**|**£**|**£**|
||**Cost**||||||
||At 1 September 2021|2,108,515|159,236|73,280|23,126|2,364,157|
||Additions|-|42,625|42,776|-|85,401|
|||----------------------|-----------------|------------------|-----------------|---------------------|
||At 31 August 2022|2,108,515|201,861|116,056|23,126|2,449,558|
|||--------------------|-----------------|-----------------|-----------------|---------------------|
||**Depreciation**||||||
||At 1 September 2021|616,065|69,589|66,534|22,702|774,890|
||Charge for the year|24,572|17,427|5,067|424|47,490|
|||--------------------|-----------------|-----------------|-----------------|---------------------|
||At 31 August 2022|640,637|87,016|71,601|23,126|822,380|
|||--------------------|------------------|-----------------|-----------------|--------------------|
||**Net Book Value**||||||
||At 31 August 2022|1,467,878|114,845|44,455|-|1,627,178|
|||==========|========|========|========|==========|
||At 31 August 2021|1,492,450|89,647|6,746|424|1,589,267|
|||==========|========|========|========|==========|
|**5.**|**INVESTMENT ASSETS**||||**2022**||
||||||**£**||
||At 1 September 2021||||-||
||Additions||||4,500,000||
||Losses during year||||(464,900)||
||||||------------------||
||At 31 August 2022||||4,035,100||
||||||=========||
||Investments consist of quoted investments held on||UK Stock Exchanges.||||
|**6.**|**DEBTORS**||||**2022**|**2021**|
||||||**£**|**£**|
||Trade debtors||||1,624|2,013|
||Prepayments and accrued income||||15,603|8,690|
||Other debtors||||2,500|3,000|
||||||----------------|----------------|
||||||19,727|13,703|
||||||========|========|
|**7.**|**CREDITORS: amounts falling due**||||**2022**|**2021**|
||**within one year**||||**£**|**£**|
||Trade creditors||||8,238|15,383|
||Grants payable||||100,000|100,000|
||Accruals||||20,930|18,665|
||Bank loans||||4,282|4,841|
||||||------------------|------------------|
||||||133,450|138,889|
||||||=========|========|



19 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

|**8.**|**NET ASSETS BETWEEN FUNDS 2022**|**Unrestricted**|**Designated**|**Designated**|**Restricted**|**Restricted**|<br>**Total**|
|---|---|---|---|---|---|---|---|
|||**£**||**£**||**£**|**£**|
||Fixed assets|1,627,178||-||-|1,627,178|
||Investment assets|4,035,100||-||-|4,035,100|
||Current assets|675,109|27,340|||6,042|708,491|
||Current liabilities|(133,450)||-||-|(133,450)|
|||-------------------|----------------||------------------||--------------------|
|||6,203,937|27,340|||6,042|6,237,319|
|||=========|========||========||=========|
||**NET ASSETS BETWEEN FUNDS 2021**|**Unrestricted**|**Designated**||**Restricted**||**Total**|
|||**£**||**£**||**£**|**£**|
||Fixed assets|1,589,267||-||-|1,589,267|
||Current assets|5,535,626||39,117||6,173|5,580,916|
||Current liabilities|(138,889)||-||-|(138,889)|
|||-------------------||--------------|--------------||--------------------|
|||6,986,004||39,117||6,173|7,031,294|
|||=========|=======||=======||==========|
|**9.**|**DESIGNATED FUNDS 2022**|**Opening**|||||**Closing**|
|||**Balance**<br>**Income**||**Expenditure**||<br>**Transfers**<br>**Balance**||
|||**£**|**£**||**£**||**£**<br>**£**|
||Special Projects fund|32,794|-|(8,500)|||-<br>24,294|
||Mission Fund|6,323|-|(27,960)|||24,683<br>3,046|
|||---------------<br>----------------||-----------------||---------------<br>---------------||
|||39,117|-|(36,460)|||24,683<br>27,340|
|||=======<br>==========||=========||=========<br>========||



|10% of donations were transferred to the Mission Fund in|10% of donations were transferred to the Mission Fund in|2022 to be used for worthy causes|2022 to be used for worthy causes|at the discretion|of the|
|---|---|---|---|---|---|
||year-end balance is held in cash.|||||
|**DESIGNATED FUNDS 2021**|**Opening**||||**Closing**|
||**Balance**|<br>**Income**|**Expenditure**|**Transfers**|**Balance**|
||**£**|**£**|**£**|**£**|**£**|
|Special Projects fund|40,969|-|(2,000)|(6,175)|32,794|
|Mission Fund|-|-|(22,962)|29,285|6,323|
|SNW Support|-|-|(3,400)|3,400|-|
||---------------|----------------|-----------------|---------------|---------------|
||40,969|-|(28,362)|26,510|39,117|
||=======|==========|=========|=========|========|



20 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

|**10.**|**RESTRICTED FUNDS 2022**|**Opening**||||**Closing**|
|---|---|---|---|---|---|---|
|||**Balance**|**Income**|**Expenditure**|**Transfers**|**Balance**|
|||**£**|**£**|**£**|**£**|**£**|
||Medical Fund|3,709|-|-|-|3,709|
||Athletes in Action Fund|1,096|-|(131)|-|965|
||Choir Funds|1,368|-|-|-|1,368|
||Project Funds|-|24,154|(24,154)|-|-|
|||---------------|----------------|-----------------|---------------|---------------|
|||6,173|24,154|(24,285)|-|6,042|
|||========|========|========|========|========|



The Medical Fund represents donations received to be attributed to those who attend the church and are in need of financial assistance towards their medical bills. 

The Athletes in Action Fund represents donations received to provide organised sporting activities to young people in the local community. Such activities to be regular, affordable and supported by adults from this and other local churches. Where the teaching and sharing of the Christian faith and lifestyle is integral to each sports session. 

The Choir Fund represents donations received to help support the choir. 

Project funds represent donations received towards specific projects each year, 

The Bursary Fund (closed 2021) represented donations received from members of the church to provide financial assistance to parents who wish to send their children to the Trinity School. The Trustees work alongside a Bursary Committee to award the bursaries. 

The School Nursery fund (closed 2021) represents donations received to be attributed to the work of the school nursery. The nursery was transferred to the Trinity Community Nursery (a charity) in 2019. 

The Trinity Grounds Fund (2021) represents £1,000 received specifically for maintaining the Church grounds. 

|**RESTRICTED FUNDS 2021**||||||
|---|---|---|---|---|---|
||**Opening**||||**Closing**|
||**Balance**|**Income**|**Expenditure**|**Transfers**|**Balance**|
||**£**|**£**|**£**|**£**|**£**|
|Bursary Fund|9,323|-|-|(9,323)|-|
|School Nursery|110|-|-|(110)|-|
|Medical Fund|3,709|-|-|-|3,709|
|Athletes in Action Fund|1,227|-|(131)|-|1,096|
|Restricted Book Shop Funds|(410)|-|-|410|-|
|Choir Funds|1,979|-|-|(611)|1,368|
|Trinity Grounds Fund|716|-|-|(716)|-|
||---------------|----------------|-----------------|---------------|---------------|
||16,654|-|(131)|(10,350)|6,173|
||========|========|========|========|========|



21 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 AUGUST 2022** 

## **11. CAPITAL COMMITMENTS** 

There were £Nil capital commitments as at 31 August 2022 (2021 £Nil). 

## **12. INDEMNITY INSURANCE** 

The trustees have taken up indemnity insurance to cover losses arising from any claims made against them by reason of any wrongful act in their capacity of trustees. 

## **13. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES** 

The aggregate of donations received from trustees in the year was £28,620 (2021: £32,910). 

No remuneration was paid to trustees during the year (2021: £Nil). Trustees were not reimbursed for any expenses incurred during the year (2021: £Nil). 

22 



## **TRINITY CHURCH BRENTWOOD** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

**FOR THE YEAR ENDED 31 AUGUST 2022** 

## **14. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES** 

||**Unrestricted**|**Designated**|**Restricted**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**Funds**|**2021**|
||**£**|**£**|**£**|**£**|
|**INCOME FROM:**|||||
|**Charitable activities: -**|||||
|Church|308,208|-|-|308,208|
|Book Shop|3,678|-|-|3,678|
|**Investment income**|4,178|-|-|4,178|
|**Surplus on sale of fixed assets**|4,787,413|-|-|4,787,413|
||-------------------|----------------|------------------|-------------------|
|**Total income**|5,103,477|-|-|5,103,477|
||--------------------|----------------|-----------------|-------------------|
|**EXPENDITURE ON:**|||||
|**Charitable activities:-**|||||
|Church|562,816|28,362|131|591,309|
|Conferences and Choir|1,498|-|-|1,498|
|Book Shop|20,983|-|-|20,983|
||--------------------|-----------------|--------------------|--------------------|
|**Total expenditure**|585,297|28,362|131|613,790|
||--------------------|----------------|---------------------|--------------------|
|**Net income/expenditure**|4,518,180|(28,362)|(131)|4,489,687|
|Transfers between funds|(16,160)|26,510|(10,350)|-|
||---------------------|----------------|-----------------|--------------------|
|Net movement in funds|4,502,020|(1,852)|(10,481)|4,489,687|
|Funds brought forward|2,483,984|40,969|16,654|2,541,607|
||---------------------|----------------|-----------------|-------------------|
|Funds carried forward|6,986,004|39,117|6,173|7,031,294|
||===========|========|========|=========|



23