TRINITY CHURCH BRENTWOOD {8 company limiied by guarlnttt) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Charity Number: I I127D5 Company Number {England 8nd Wales): 115642162
TRINITY CHURCH BRENTWOOD REPORT AND FINAf4CIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 CONTENTS Page R¢ference and administrative detatls TTU51ee5' report Independent auditor's report Statement of financial ociiviiies Balance sheet 12 Statement of cash flows 13 Notes io the financial statements 14
TRINITY CHURCH BRENTWOOD TRUSTEES, REPORT (¢oDtinued} FOR THE YEAR ENDED 31 AUGUST 2023 REFERENCE AND ADMINISTRATIVE DETAItS OF THE CHURCH TrusleeslDirector5 Lelia Bailey Juan Esquivel Liviu Mercioniu Omolade Oshunremi Casian Sala (Chair) Ttrrian Sharp Wesley Vaughan Christopher Whealy Registered office addres$ Haysmacinryre LLP 10 Quttn Street Place London EC4R IAG Auditors Haysmacinryre LLP 10 Queen Sirtti Place London EC4R IAG Bankers Barclays Bank pl¢ Broadgate Corpordle Banking Centre 155 Bi5hop5gate London EC2M 3XA Charity registratlon number 1112705 Company reglstr#tlon number 05642162 (England and Wales)
TRINITY CHURCH BREP4TWOOD TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2023 The Board of Trustees present the slaiutory report with the ac¢ounts of Trinity Church Brenrwi)od for the year ended 31 August 2023. The accounts have been prepared in accordance wilh current accouniing policies and ¢omply with (he chariiable company'5 memorandum and articles of a550Ciation. applicable laws and ihe requiTeni¢nt5 of the Staiemeni of Recoimmended Practice for Charities ISORPI (Second Edition. etTective l January 2019). tlie Companies Act 2006 aiid wiill FRS 102. TRUSTEES Staternent of Tru5tees' Responsibiliti The-fruste¢s (who arc also director5 of Trinity Church Brentwood for the purposes of company lawl ar¢ resptsi)sible for preparing the Tru51¢¢5' R¢port the finanetal siaiemenis in accordance with applicable law aiid Uiiited Kingdom Accounting Standard5 Iuniicd Kingdom Generally Accepied Accounting Practice). Company law requires the TrUSeS to prepare financial slalements for ¢a¢h financial year which give a true and fair view of the state of affairs of ihe chariiable company of its incoming resources and the applicaiion of ihose resources. including ihe income and expendiiure. of the ¢harilabl¢ compyny for that peri(Kl. In preparing these financial 5tatemenlS. the Tnlee9 are required to.. Select suitable accounting policies and ihen apply them con5iStently- Observe the methods and prin¢iples in the Chariiies SORP. Make judgmenis and esliinates that are reasonabl¢ and prndent: State whether applicable UK Accounting Siandards hove been followed. subject to any material departures disc105¢d and explained in ihe financial slatemeThts.' • PTepare the financial siaiements on a going concern basis unless li is inappropriate io presuine ihat the charity will conlinue in operation. The Trustee5 are responsible for keeping prnper accounting record5 that di5c105e with reasonable accuracy at ai)y time the financial position of the Charitable company and enable to ensure that the financial slateinenis coniply with the Companies Aci 2006. They are also responsible for safeguarding Ihe assets of the cliaritable coinpai)y ai)d taking any such reasonable sleps to prevent and ddect fraud or other inrgularities. Provision of Inform#ilon to auditors So fcif each of the 'fTU51ees is aware ai ihe lime the report is approved.. • there is no relevpnt audit infomiation of which ihe company's auditor5 are unaware-. and • the Trustees have laken all reasonable steps io make themselves aware of any relevant audit infomation and to establish that the audiiors art aware of that inforn)ation. Trustee and employee liability in5uran¢e Trust¢¢s and employee liability insurdnce ha5 been purchpsed by the charity as pemiitted by the Charity Coinmis5ion and the Company's Memordndum of Association. Trustee recruitment, inductioth and training Tn151ee5 are nominated by the Church congregation. candidates are screened and fomially approved for appointment by the Trustee Board. All new Trustees are provided with infonnatioi) on the dutie5 and responsibilities of bein¥ a Trusiee. All Trustees are encouraged to undertake conlinualion training from time to time. including attending relevant courses and seminar5 held within and ouiside (he charity. The Truslees are also kept infortned on thariiy sector 155ue5 by professional advisor5, fact sheets and newslettets from auditors. Remuneration of key management personnel The Trnstees reco¥nise thai as a board Ihai Ihey. along with the Pastor. comprise the ke) manageinent personiiel of the chariiy in charge of directing. colltrolling. running and operating rhe Charity on a day to day basis. With the excepiion of Rev Weslej. Vaughan who. as a minister of religion. is pemiilled by the Article5 of A550cialion 10 be remuneraied. all Tntee$ give their tirne ftrely and no Trnsiee has received any remuneration in the year.
TRINITY CHURCH BRENTWOOD TRUSTEES, REPORT {continued) FOR THE YEAR ENDED 31 AUGUST 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT The Board of Trustees seis the overall strdiegic policy frdmewoA( and budget of the charity and is re5pon5ible for safeguarding its assets. The Trusiees usually meei fomially on a monthly b&sis. Discussions resolutiotJ5 a¥reed wiihin meetings are recorded in Ihe meeiing minutes. The Trustees have also held forjmal meetings with the Leadership Team. The Board h&$ d¢legaied responsibility for the daY-ldaY jnanagernent lo the following department head5.. Church spirilual activities Healih & Safety Data protection and safeguarding F inance & Insurance Publle Beneflt In setting the charity's objectives. Ihe Tru5t¢¢5 have paid due regard io Ihe Public Benefit guidance published by the Charity Coinimission. The manner in which it fuifils this obligation is deiailed in the seciions below. Prlncip81 alrns and activitles- MissioTr Statement We are a family church. We believe in people Comin face io face with ihe realily of the living. miracle-workiiig God. With the Bible as our iouehstone. we proclaim (he Gospel of Jesu5 Christ to all, teaching the principle5 of God and equipping people old and young io fulfil His purposes. The aims of the charity are io JEa¢h ihe losi. ¢4re for ihe needy, develop tomorrow's church by upholding ¢raditional Christian value5 through the advancement of religion and the propagaiion and furtherance of tlie Gospel of God ¢on¢erning His Son Jesu5 Christ and the preaching and teaching of the Word of God. OILJECTIVES & ACTIVITIES The governin8 documeni is the memorandum and grti¢les of asxKiation last amended in March 2019. The objects of Ihe eharity are the advancement of relÈ8ion and the PTopagalion and furtherdnce of ihe Gospel of God conceming his son Jesus Christ and the preaching and teaching ofthe Word of G¢)d throughoui the world. Our main strdtegic objective5 are- To reach the lost, through traditional methods of preachin8 and teachin8 the Word of God in church meeting5, in conjunction wirh Ihe use of modem media. such a5 internet delivery. To work wilh other organi5ations locally and in a broader geographic area to reach out to the lost and demonstrate Christian Faith in aclion. The Trustees keep the activitie5 under continual review io ensure that we are ll¢hieviDg our mpin aim of reacl)ing people with the gospel. Fundraising Approach #nd Performxnct The charity does not undertake any fomial or organised fundraising activitie5 through profe55ional fundraisers. No complaints were received during the year regarding our fundrnising activities (2022= no complaints) and the charity lias policies in place when dealing with vulnerable peoplc.
TRINITY CHURCH BRENTWOOD TRUSTEES, REPORT l¢ovtinu¢d) FOR THE YEAR ENDED 31 AUGUST 2023 ACHIEVEMENTS AND PERFORMANCE Pastoral Report for 2022123 Trinity Church is a gatheTing of believeT5 in J¢5us Christ from the Brtnrwood and SUOund1g district. Thi5 church is aligned with the Elim denominaiion through its ass14110 wilh Elim Network. The purposes of Triniry Church encompass a number of areas.. I I To PTovide Christian fellowship for those of 'like precious faith,: 21 To reach people at hotn¢ and overseas by Clmnmunicaiing rhe 'Good News, of Jesus Christ: 31 To release people to biblically rn¢¢t the need5 of otheTS locally wiihin the world in which tliey engage. 41 To maintain a place of worship for the meeting of b¢li¢v¢rs.' 51 To observe the sacraments of bapiism by full immersion and the ceremony of th¢ Lord's table: 61 The soleinnisaiion of marriages. 71 The dedication of children and infants. 81 To undertake funeral services: 91 To create needs-led leadership and deparrmenis. io proMe the work of God at home and abroad in preachin. teaching pa510rn1 care and Social assi$1oncelministries. Review of progress and aehievements: The Paslor, 81on8 with the church Leadership Team have provided the overall spiriiual ovejsighi of Ihe church. The year of 2023 ha5 Seen Ihe continuing implementalion and embedding of the purposes throughout the life of rlie church. In suinmary. the pUrpoS are to: Reach people for Jesus. ¢0 Raise ihem io Chrisilike maiuriiy and io Release ihem for ministry in the ¢huieh ai)d the world in which we engage. Reach Raise Release Pastoral Care ha5 been delivered io the congregalion through attendance of those at rhe weekly Sunday Ineetiiig5, Wednesday night prayer meetin8s. additional Inidweek departmental Ineelillgs and training opponuiiiiies for the Lhurch. In addition, the congregation has an ongoing oprtUnitY lo meet the Pastor and Leadei'ship Team individually or as a collective team. These meetings have been delivered in person. via oi)line or by pl)onc. Such pastoral meetings have helped to deepen Ihe eonnec(ion of Irusi wilh the Pasiorlthe LeadeT511ip Teain and Ihe COngTeatiOn and also provide opportunities for distiple5hip and pa510ral care. These meetings ar¢ scheduled io ontinue in perpetuity. Pastoral home and hospital visitivg has a150 taken place upon request and has beeii deliveird by both the pastor and the Leadership Teain or designaied other departmental leaders. All departments in 2022r2023 have received up io dale training around the PUTPQ5es of the church. Ongoing safeguarding training for department leader5 and volunteets has also taken place. Trinity Church continues io support the local education charity. Brentwood Schools Chrisiian Worker Trust which is based on Trinity Church grounds. this ha5 been instrumental in strengthening our connection with the district sch(x)Is. Trinity Church conducts various events whieh are designed io reach oui to the local cominunitv, such as Easter trail. Chri5ttna5 lights and fireworks night. Monthly Fatnily Care workshops are also run froin Trinity's site whicli offeTS support and advice to families within the church and ihe loul community. In addiiion, two new appointments have been made to help faciliiale the PUTPQ5es of tlie church. A new PA for the Senior Pastor was appointed to a5515t in adminisiraiion. Also a Pastoral Care role wa5 introduced to further Strengthen the work of meeiiiig people's practical and 5Plritual nttds wiihin (he church.
TRINITY CHURCH BRENTWOOD TRUSTEES, REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2023 Hybrid weekly online. in-per50n chUh 5¢rvices and workshops continue to operaie and reach wider audiences. The Pasior and the Leadership Team have also engaged wilh the ivider Breniwood Chrisiian coimn)unity IIiTou¥h supponing.. Foodbank. Breniwood Schools Chrisiian Workers Trusi. Lillle Doves Christian pre-school. Brentwood Churches Together and the minisier frdiemals. Other #ehievements: Wilh the iinplenientalion of the Leadership Team. the Trustees have 5trength¢ned theÉr focus on their compliance and charity-driven activities in line with the spiritual purposes of the church. 'l-he Trusiee5 aiid Leadership Team contirkue to collaborat¢ well to e51ablish open communication and accounrabiliry through rhe Temis of Relerence. We continue to make the church grounds available to various wcial outreach iniiiaiives. We have a150 allowed other church congregaiions to use the siie buildings for funerals. Christian comedian nigh15, COllCCrts eic. The church also opens up ihe swimming pool for Triniiy Church aiiendtts and Ih¢ir gu¢s¢5 to ei)joy, thi5 strengthens community bonds. From a finan¢ial p¢rspe¢tive. the church hgs ¢ontinued to receive strong and committed donations. Church growth has also resLtli¢d in an in¢reosed amouni of people giving to the church. Tru5tees' gctivitie5 With the iinplementation of the Leadership Team and Pasior. the Trusiees have been released to focus on their ompliance and charity.driven aciiviiies in line wilh ihe new spiritual purposes of the church. The Trustees will continue to work on shaping ihe relationship between the Leadership Team and Trustee board and continue to establish open communication and accounthbiliiy 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 reserve& ihe Trusitts have retained charity spe¢ialisi proviilers to monitor the inve5tinenl policy ¢0 ensure it remain5 aligned with the purposes of the Church. The TTU5tee5, together with the Leadership Team. have evaluated the besi use of the large, Grade 11 listed buildiiig in line with the church purp05e5. The Tru51ee5 appointed planning consultanis 10 propose plans for Inaking the building viable. aciiviiy which is ongoing. Church growth hgs resulted in an increased amount of people giving io ihe church. The church has continued to re¢eive strong and committed donaiions. We have updated the risk re8lSter on thi5 Inatt¢r. However, we recognise that pandemic longer-temi impacis, along wirh the recession 8nd energy costs in¢rea5es Inay cause a drop in members, income and affect Ihe overall level of donations. We are monitoring the situatioi) on a monthly basis, and we will be able to respond in a timely manner to our ¢xpendityre a5 nece55ary. FINANCIAL REVIEW The charity re¢orded a deficit for the year of £283,869 (2022.. deficit £793,975). Tal in¢ome from church a¢tivities increased by £26.184 10 £367.22] {2022.. £341,037). Exp¢ndilure decreased by £81,275 to £594,017 12022.. £675,292). The Trustees will continue to review the costs of its activities with ihe aim of increasing etTiciency and focusing on those area5 that maxirnise the public nefit. Reserves policy At the year end, Ihe chari(y had free reserve& defined as unrestricted funds le55 those tied up in fixed asset5, Testricted and designated fund5 of £4.314,347 (2022.. £4.576.7591. The Trusrees continually review (heir working capital needs and will cothtinue to monitor the free reserves position to ensure thai ihe charity continues lo have a firni base from which to pursue its objective5. The Board has engaged Epoch Consuliing and developed an ethical investment policy with the main objeciive to safeguard the charity's long iemi funding requireTnents.
TRINITY CHURCH BRENTWOOD TRUSTEES. REPORT (¢ontiDu¢d) FOR THE YEAR ENDED 31 AUGUST 2023 Principal Risks and un¢ert2inlie5 Rlsk mxnagement The Board of Trnsttts has ensured that the process of identifyin& agsessing and mitigating risk 15 linked to the objectives of Trinity Church BrenNo(Ml; thai the pr¢55 covers key risk areas,. and ihai risk Inanageineilt is ongoing and embedded wiihin its managemeni and opernting proc¢dur¢s. The process covers all areas of risk rinancial. govemance. operdtional and reputarional, and is focused primarily on major risks. The Trustees are satisfied thai systems are in place io mitigaie any exposure lo major risks but rec(Trgni5e the need to review and ii)ake appropriat¢ ¢hanges to its govemance arrangements. An exiemal Healrh and Safery Advisor provides external nionitoring of Health and Safety as well to provide advice on new legislarion and proinoie better adherence to safe working practices on both 5lte5. An external advisor provides HR suppon to ensure employmeiit legislati011 and procedures are up to dale and complied with. Th¢ prin¢ipal risks and uneertainiies identified by the charity are as follows.. Church Estate There ha5 been restri¢ted tnvestmeni into the Church eSle over a sustained period. resulting in operdtioi?al limitaiions and raising the risk profile associated with boih healrh and safery and security. During tlie year, aiid since reopening of the Site after lockdown. there has been criiical maintenance work undenaken ai tlie Coxlie Green Road site,. these were identified in the site survey undertaken in 2020 ond in line with the purposes of ihe cl)ariiy. The Church continues io mainiain a register of operdlional work5 reqiiired ond approv21 of funding associated willi h¢8lih and safely has been prioriiised. Healrh and safety 15 monilored by Ihe Sile Manag¢r aiid actlvilies are risk a5se55ed in line with Government guidelines. Investment policy and p¢rform8n¢¢ The sale of Brizes Park has resulted in a significant investtneni of fund$ into the charity iNst and the Board ha5 a legal duty io ensure thai funds are invested wisely and in line with th¢ Church vision And purposes. The investinent fund5 Portfolio hfts been adversely impacted by market conditions. However. ther¢ is no immediate need to acce5S the funds and the Tnlsiees will continue lo have quanerly perforniance reviews with Ep1) Consulting. FUTURE PLANS We are committed to being a welcoming church. serving both its congregation and also seeking appropriate opportunities io serve those in the Iwal and wider ¢ommunity. We will continue 10 strengthen and develop links with other local churches for the mutual benefit of spiritual edification, and to combine etrorts lo support the needs of our coinniuDity, either providin8 direct 5UPPOrt 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 govemance structure, defining th¢ church ministry and Trusteeship roles and responsibilitie5 and the Inutual accoiintabiliiy between them.
TRINITY CHURCH BRENTWOOD TRUSTEES, REPORT (continued) FOR THE YEAR ENDED31 AUGUST 2023 THANKS Our thanks to all those who have supported us during the past year. We go forward building on ihe foundation of God, divine PUTposes and seeking io fulfil His will in what we do. APPROVAL In preparing this report Ihe Tntsltts have taken adyantsge of the exemptions ayailable to small companies by the Coimpanies Act. This report wa5 approved by the TnleeS on ... . 2024 and signed on their behalf. by.. CasiAn SAla Trustee
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRINITY CHURCH BRENTWOOD Opinio We have audited the financial siaremenis of Trinity Church Brentwood for the year ended 31 August 2023 which comprise the Statement of Financial Activities. the Balance Sheei. th¢ Cash Flow Staiemeni and notes to the financial siateineiits, inclllding a SUTnmary of significant aecouniing policies. The financial reporting traiiiework. Iliat lias been applied in their preparation is applicable law and United Kingdom Accounting Siandards. including Finaiicial Repoi1ing Sic1ndard 102 The Fillunc'iul Reporiing .Tranddrd opplicahle ihe UK aild Repuhlic. of Irel(7nd (Uniied Kingdom Generally Accepted Accounting Praciicel. In our opinion. the financial siaiements.. give a Inie and fair view of the state of the charitable company's affairs as at J l August 2023 and of the charitable company's net tnovetnent funds. including the incolne and expenditur¢. for the year then ended; have been properly prepartd in accordance wilh United Kingdom Gen¢rnlly Accepied Accounting Practice,. and have been prepared in accordance wilh the r¢quiremenrs of the Companie5 Act 2006. Basi5 for opinion We conducied our audtt in ae¢ord#nee with IniernAtional Siandard5 on Auditing (UK) IISAS (UK)) and applicable law. Our Tesponsibiliiies under ih05e standard5 pre furth¢r de5eribed in ihe Audiior's responsibilities for ihe audit ol. the rinancial statements section of OUT Teport. We are ind¢p¢ndent of ihe charitable company in accordance witli the etliical reqiiir¢inent5 that are relevant io our audii of the financial 51aiemenis in the UK. including ilie FRC'S Ethical Staiidard, and we hav¢ fulfilled our other erhical responsibilities in accordance with these requireinents. We believe tl)at the audit evidence we have obiained is sufficieni and aPprOpriC io provide a basis for our opinion. Conclusions relating lo going concern In audiiiiig the Iiiiancial sta¢einenls. we have concluded that ihe TntttS' Use of ihe going concern basis of accounting in (he preparation ofihe financial statemen15 15 appropriate. Based on the work we have perfomied, we have noi identified any maierial uncertainties relating to events or Conditions tl)at. individually or collectively, may cast significant doubt on the charitsble coinpany's ability ¢0 continue a5 a &oing concern for a period of ai least twelve monihs from when the financial 5taiements are auihorised for issue. Our responsibilitie5 and the responsibilities of ihe Trusitts with respect to going ¢oncern are described in the relevant sections of this report. Otlier iiiformAtion Tlie Trustees ar¢ responsible for the other infornaiion. The other infom)ation comprises ihe infonnation included in ihe Trustee's Report. Our opinion on the financial statements does not cover the other infom)aiion and. except to Ilie extent otherwise explicitly stated in our report. we do not expres5 any fonn of assurance conclusion ihereon. In connection with our audit of the financial siatemenis. our responsibility is to read the other infonnalion and. ii) doing 50, consider whether the other information is materially inconsistent wilh the financial statements. or our knowledge obtained in the audit or otherwise appears lo be materially missiated. If we identify such material inconsistencies or appareni material Ini55tatemenis, we are required to detennine whether there is a material Inis5tat¢ineiit in tl)e financial stcilements or a material missiaiemeni of the her information. Ir. b&sed on the work we have performed. we conclude that there is a material misstatemeni of this Other infonnation. we are required to report that fact. We have nothii)g to report in this regard. OpinÉoiJs 011 other matter5 prescribed by the Companies Aci 2006 Iii our opinion. bosed on the work undertaken in the course of Ihe audii.. the infomiaiion given in the Trustees, Repot1 {which includes ihe directors, pOrt prepared for the purposes of company lawl for the financial year for which the financial statements are prepared is consistent witl) the rii)ancial statements; and the director5 report included within ihe Trusltts, Report ha5 been prepartd in accordance ivith applicable legal requiremenrs.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRtNITY CHURCH BRENTWOOD M8tters on whieh we are required io report by exceptio In Ilie light of the knowledge and undeTStandÈn¥ of ihe LharÈthble company and its ¢nvironTnent obtsined in ihe course of the audii, we have not idenlified maierial misstaiements in ihe Trnstees, Report (whi¢h incoTporaies th¢ directors, report). We have nothing to report in respect of the following matter5 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 agTeemeni with the accounting records and retums; or certain disclosures ot Trustees, remunerdrion specified b>, law are not made: or we have not received all the inforniaiion and explanations we require for our audit., or the Trusiees were noi eniiiled io prepare the financial sratemenis in accordance with th¢ STnall companie5, regime and take advantage of the small compani¢%' exempiions Èn pr¢paring ihe Trustee5' Report and froiii the requirement io prepare a strategic rep)n. Responsibilitie5 of Tru5tee5 for the financial statements As e.¥plaiDed more fully in the Trustees, responsibilities 51aterneni set oui on page 2. the Trustees {who are also ihe directors of the chariiable company for ihe purposes of company lawl are responsible for the pr¢par&iion of the financial statenients and for being satisfied thai ihey give a true and fair view. and for such internal coi)trol as the Trusl¢¢s determiiie is necessary to enable the preparntion of financial siotem¢nis thal ore frtt from Material mi5Statement, whether due to fraud or error. In preparing the financial statements. the Tnjsiees are responsible for assessing the charitable company's ability to coniinlie as a oing concern. di5¢105ing. as applicable, matters relaied to going corbcern and using the going concern basis of accoiiniing unless ihe Trusiee5 either intend io liquidale the company or to cease operation& or have no realistic aliemative but to do 50. Audlior's responsibilltles for the audit of tht fin8ncl81 slatemtnls Oiir objeciiyes cire lo obiain reasonable assur1c nce about whether the financial staiemertts as a whole are free from malerial misstatement, whether due io fraud or error. and to issue an auditor's report that include5 our opinion. Reasonable assurance is o high level of assurart¢e but is not a guarantee ihat an audit conducted in accordance with ISAS (UK) will always deieci a material misstatemeni when it exists. Misslalements can arise from fraud or error and are considered material if, individually or in ihe aggregale. they could reasonably be expecied io influence the economic decisions of users taken on the basis of these financial 5talements. IrregiilaTlties, including frdud. are instances of non•compliance with laws and regulatlOn5. We design pro¢edure5 iii line witli our respon5ibilitie5, Outlined above. 10 deieci maierial misstatements in respect of irr¢8ularili¢s. iiicluding fraud. The extent to which our procedures are capable of deiecting irregularities. in¢luding fraud 15 detailed below.. Based on our understanding of the ¢harit8ble ¢omp4ny and the environment in which it ¢)perates, we identified that the principal risks of non-compliance with laws and regulalions relaied io chariry law, employment law, health and safety rebFiilaiions. safeguarding and GDPR. and we considered ihe extent 10 which non4ompliance might have a material ellect on tlie financial slatement5. We also considered (hose laws and re¥ulations that have a direct impact on the prepardtion of the financial Statements such as ihe reporting requirements under the Charitics SORP and FRS 102, the Companies Act 2006, the Charities Aci 201 l and payroll taxes. We evaluated management's incentiv¢s and opportunitics for fraudulenl manipulation of ihe financial 5tatemenis {including the risk of oveide of controls), and detern?ined that the principal risks were relaied to improper recognition of income and management bias in accounting estimates and judgements. Audit procedures perfomed by the engagement teain included.. Review of minuies of Tnjslees. meetings; Inspeciing correspondence with regulators and tax authorities. Discu5si9ns with managemenl including considerdiion of known or suspected instances of non-COTnpliance with laws and re¥ulation and fraud; Evaluating management's controls designed to prevent and detect iTregularities- Identifying and testing journals based on risk profile: and Challenging a55umptkon5 and judgements made by managemeni in their critical accounting estimate5.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TRINITY CHURCH BRENTWOOD Because of the inherent limitations of an audiL there is a risk that we will not detect all irregularities. including those leading io a maierial missiatemeni in the financial siaiemenis or non-compliance with regulation. This risk increases tl)e more ihar compliance wilh a law or regulation is removed from (he events and transactions reflected in die financial statements, &% we will be less likely to become aware of insiances of non-compliance. The risk is also greater regardiiig irregularities occurring due to fralhd rnther than ermr, &% ftaud involves inteniional concealmenL forgery. collusion. oinis5ion or misrepresentation. A further description of our responsibiliiie5 for the audit of ihe financial Statements is located on the Financial Reporting Council's websiie at.. www.frc.or .uklauditorsres onsibilities. This description forn15 part of our auditor's report. Use of our report This report IS tnade solely to the charitable company's rnember& as a body. in accordance with Chapier 3 of Part 16 of ihe Cotnpanies Act 2006. Our audit work h&5 b¢¢n undertaken so that we might sta* to the charitable company's menibers those matter5 we are required to state to ihem in an AUdit0S report and for no other purpose. To the fullest extent pemiitted by law, we do not accepi or assume Tesponsibility to anyone oiher than thc ¢haritable coinpany and th¢ charitable company'5 members as a body. for our audii work. for this report, or for the opinions we have forincd. Jane Askew (Senior Statutory Auditor) For and on behaifof Haysmacintyre LLP, Statutory Auditor 10 Queen Sir¢et Plgce LA)ndoii ECIR4AG 17 May . 2024 10
TRINITY CHURCH BRENTWOOD STATEMENT OF FINANCIAL AcfiviTIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023 Unrestricted Funds Designated Restricted Funds Funds Total 2023 Total 2022 No¢es INCOME FROM: Charilable activities: Donations 323.961 7,103 331,064 320,059 Investment Ineome Lettin2s Sntome Othcr inrome 18.401 11.730 6,026 18,401 11.730 6,026 5,648 10.414 4,916 Tolal income 360.118 7.103 367,221 341,037 EXPENDITURE ON: Cost of raisln£ funds: Inve51n)enl iiianugJeIii¢nt fees 22,341 22.341 7.221 Charitable yctivilies: Cliurch Conferences and Events Book Shop 538.616 967 25.IlXI 6.903 570.709 967 666.247 1,779 45 539.583 25,1 6,903 571,676 668,071 Total expenditure 561,924 25,190 6.903 594.017 675,292 Nel (expenditureylneome (201.806) (25.11A1) 200 {226.796) 1334,2551 Lo55es on investmenis 157.073) 157,073} {459,7201 (238,879) {25.1901 200 (283,869} {793.9751 Transfer5 between funi15 {26.703) 26.703 Net movement in funds (285,582) 1,513 200 (283,8691 {793,9751 Funds broiight forward 6,203,937 27.340 6.042 6,237,319 7.031.294 Funds carried forward 5.918.355 28,853 6,242 5,953,450 6,237,319 There were no recognised gains and losse5 Other than those included above. The accoTnpanying accounting policies and notes forn? an integral part of these financial statements. Full comparatives are shown in note 15. All the activities above relate to contÈnuing artiYÉlies.
TRINITY CHURCH BRENTWOOD COMPANY IYUMBER: 05642162 BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 f4otes FIXED ASSETS Tangible assets Investment assets 1.604.008 3.964.929 1,627,178 4,035,100 5,568.937 5.662,278 CURRENT ASSETS Debtor5 Cash ai bank and in hand 15.792 450.476 19,727 688,764 466268 708.491 CREDITORS: amounts falling due within one yegr (78,9411 1129.8881 NET CURRENT ASSETS 387,327 578.603 CREDITORS: amounts falling due yfter one yegr 12.814) 13.5621 NET ASSETS 5,953,450 6,237.319 RESERVES Unrestricted funds Designated funds Resiricled funds 5,918,355 28,853 6242 6.203.937 27.340 6.042 5,953,450 6,237,319 The financial siatements are prepared in accordance with the provisions applicable to ¢ompanies subject to ihe sinall companies. regime. The financial statements were approved ond authorised for issue by ihe Board of Trustees on signed below on its behalf by.. 11/0 2024 and were C85ian Sal8 Trustee The accompanying accounting policies and notes forni an iniegral part of ihese fin¥ncial Statements. 12
TRINITY CHURCH BRENTWOOD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED31 AUGUST 2023 Note 2023 2022 Cash flows from operating activities {242.7211 {301,4211 Cash flow5 frorn investing activities InteTest income Interest paid Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investment assets 18,401 5,648 11,897) {85.401) (25,164) 966.311 1953.213) 14,494.820) Cash flows from investing aciivilkes 5.153 14.576,470) CAsh flow5 fn)m fin8n£iDg activities RepayTii¢n¢ of baiik loan5 {7201 {5581 Decrease in cash and cash equivalents in the yeor {238.2881 {4.878.4491 Cash and cash equivalents al ihe b¢8inniog of the year 688,764 5.567,213 Total cash and ¢a5h equivalenls ai ihe end of the year 450,476 688,764 A: RECONCILIATION OF NET (EXPENDITUREYINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIFS 2023 2022 Net expenditure for the reporting period 1283,869) 1793,9751 AdJu5tm¢nls for.. Investinenl income InteTe5t paid Depreciation charge Surplus of sale of fixed assets Losses on investment assets Decreasel{incr¢asel in debtors (Decrease) in creditors (18.4011 1,182 48,334 (5.6481 1,897 47.490 57,073 3,935 (50,975) 459,720 16,024) 14,881) C8sh flow5 from operiting activitles (242,721) {301,421 } ANALYSIS OF CHANGES IN NET Fuf4DS/IDEBT) At start of year Cash Flows At end of year Bank accounts Loan5 < l year 688.764 (4,282) {238.2881 720 450,476 (3,562) 684,482 (237,5681 446,914 13
TRINITY CHURCH BRENTWOOD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGUST2023 ACCOUNTING POLICIES BASIS OF PREPARATION The financial 5tat¢ments have becn prepared in accordance with the Financial Reportin¥ Siandard applicable in tli¢ UK and Republic of Ireland IFRS102). the Statement of Recommended Prnclice for Chariiies {SORP} (Second Edition, eftective l January 20191 and th¢ Companies Act 2006. The a¢¢tsunting policies sei out below have been applied in pr¢paring these financial siatements. The financial statements are drawn up under the historical cosr conveniion. The charity is a Public Benefit Entity registered as a chariry and company in England and Wales. it was registered on I December 2005 Icharity nuinber 1112705 and eompany registration nuinber 056421621. Golng coneern Having reviewed the funding facilities available lo the charity iogeiher wilh the fijwre projected cash flows. th¢ Trustees have a reasonable expectation that the chariry ha5 adequate resour¢es io continue its acriviiies for tlie foresceybl¢ futur¢ and consider Ihat th¢r¢ were no material uncenainiie5 over the ¢h8rily's financial viability. Accordingly. they also continue to adopt the going ¢on¢ern basis in preparing the financial statements. Don#tlons and gifts All nionetary donaiions and gifts are included in full in the siaieineni of financial aciivities when receivable. provided that there are no donor-imposed reslric¢ions 15 to ihe limin8 of ihe related expenditure, in whi¢li ¢ase recobjniiion is deferred until the pre-condiiion has been met. Legacies are included in the siaiemeni of financial aclivitie5 when the charity is advised by the personal representative of an estate that payment will be made and ihe amount involved can be qu¥vlified. Donations under Gift Aid together wilh the associated income lax recoverie5 are crediied 85 income when tlie donations are receivable. Investment income Investment incorne, includin8 associated income tax recoveries. is recognised when receivable. Expenditure Expenditure is accounted for on an accruals basis. The irrecoverable elemeni of VA T is included wi(h the itein of ¢xpen5e to which it relates. Charitable expendiNre relates to costs incurred in delivering the charity's activitie5 and 5¢rvi¢es to its beneficiaries. Governance costs cotnprÈse the cosis of running the chyrity. including Strategic planning for ils future d¢velopineni, iniernal and exteTnal audit. and costs of complying with constitutional and Statutory requirements. Fund accounting Restricted fund5 are funds used for purposes as specified by the donor. Related expenditure is charged to the fund, together with a fair allocation of overheads and support costs. Unrestricted funds are donations and oiher incoming resource5 received or generated for expeiiditure oi) the general objectives of ihe charity. Designated funds are unrestricied funds eamiarked bv the Trustees for specific projects. 14
TRINITY CHURCH BRENTWOOD NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 21111 ACCOUNTING POLICIES {¢oNtinued) Tangible f]ed Hs5ets depreciAtioD Tan(Jihle filed asseis are siaied at cosi net of depreciation. Depreciation is calculated to write down the cost less estimated residual value of all iangible fixed assets oiher ihan frtthold land over their estiinated use1 economic liv¢s. A full years. worth of depreciation is charged in the year of asset purchase regardless at whicl) point the asset 15 purchased. The rdtes generdlly applicable are.. Freehold properties Freehold improvernents Plant and equipment Furniture and fjttings Motor vehicles Coinputer equipment 2•h straight lin¢ 2- IOVO 5trdighi line IO% strdight line IOO/o Strdighi line 25/( reducing balance 33.3°h styaighi line Investment assets Investinenis held for ihe long.iemi ro generate in¢ome or capital growth are carried at fair value os fixed assets. Th¢ Siaiemeni of Financial Aciiviiies includes the net gain5 and losses arising on revaluations and disposals througl)oiil the year. Lefistd assels Asse15 held under finance leases and hire purchase conrracis are copitalised the balance sheet and depTeciated over their expected useful lives. The interest element of leasing paytnents repre5en¢s a constant proportion of the capital balance outstanding and is charged (o ihe siaiement of financial aclivilie5 over the period of the lease. All other leases are regarded as operatin8 leases and the payments Made are charged io the statement of finai)eial activities on a siraight line basis over the lease ieTm. TAxatitsn By virtue of lis charitable statu5, Trinity Church Brentw is noi liable for ¢orporaiion tax on its charitable activitie5 ui)der the CoTPOTalion Taxes Act 2010. Financial instruments Basic financial instruments are initially recognised at trdnsaciion value and subsequently measured 8t aiMort15ed rost, Fin£lncial assets held at amort15ed cost comprise cash ai bank and in hand. together with trdde aiid other debioTS, 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 accounis and used as working capital. Fin¢la1 liabilities held at amort15ed cost comprise all creditors except 50¢ial 5e¢uriiy and other laxes and provisions. Debtor5 Trade debtors are reco8ni5ed at the settlement amount due after any tt7de discount offered. Prepayments are valued at the ainouni prepaid net of any trdde discounts due. Creditor5 Creditor5 are recognised where th¢ charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a third party and ihe amouni due 10 settle the obligation can be measured or estimated reliably. Creditor5 are nortnally recognised ai their selllemen( amount after allowing for any trade discounts due. Employee benefit5 Pen51n175 The charity rontribut¢s into a Defined Coniribuiion Pension Scheme on behalf of its paÈd employees. The pension costs ¢harged against incoming resources are the employels contributions to employee's own private pension scheme in the accounting period. Other than these contributions, the chariry has no liability io rhese schemes. 15
TRINITY CHURCH BRF.NTWOOD NOTES TO THE FINANCIAL STATEMENTS (continued} FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES {eoniintsed) Critical judgtmtnts #nd estiThate5 In the application of the accounting policies. the Tru5t¢¢5 are required ro make jUdge1ent, estimate5, and a5suinplivns about the catrying Value of assets and liabilities that pre not readily apparenr from other sources. The estiinale5 and underlying assumptions are based on hisiorical experien¢e and other faciots ihai are considered to be relevaiit. Actual results may ditTer from ihese esiimaies. The e5timat¢s and underlying assumptions are reviewed on an ongoing basi5. Revision5 to a¢counting estiinates are Tecognised in th¢ period in which ihe estimate is revised if the revision affects only that peri(xl, or iii the period of Ihe revision and fuwre peri(K15 if the revision affected curr¢nt and future periods. The Trusiees coi)sider tliat tlie only critical estimate or judgemeni relate to the estiination of the useful economic lives of fixed assets. ANALYSIS OF INCOME AND EXPENDITURE Conference5 and Choir Total 2022 Church De5ignaied Restriried Total 2023 Incorne Donc11ions and legacie5 Ii)vesimeni income Leiiin¥s income Other ineome 323.961 18,401 11,730 6.026 7.103 331,064 18,401 11.730 6.026 320,059 5,648 10,414 4,916 Total income 360.118 7,103 367,221 341.037 Expendlture Inveslimeni man fees Staff ¢ost5 Preini5¢s and equipment Operating costs Depreciation Finance costs Governance Otlier costs 22,341 214,761 129.210 72.280 48.334 22.341 214.761 129.210 72.280 48.334 1,182 26,355 20.247 7,221 118,682 128,771 56,364 47,491 1,897 30,841 26,355 19,280 967 533.743 967 534.710 403,085 Grants and donation5 27.214 25.190 6,903 59,307 272.207 Total expendlture 560,957 967 25.190 6,903 594,017 675.292 Net (expenditurev income {200,839) 1967) 125.190) 200 (226,796} (334.2551 16
TRINITY CHURCH BRENTWOOD NOTES TO THE FINANCIAL STATEMENTS IcontiThued) FOR THE YEAR ENDED 31 AUGUST 2023 ANALI'SISOF INCOlE AND EXPENDITURE Icolltinvtdl Conlerenets and Choir Chureh Shop Designated Restricted Total 2022 Ineome Donations and l¢¥acie5 Investment in¢tsm¢ Leiiings income Oth¢r income 295,905 5.648 10,414 2.348 24,154 320,059 5,648 10,414 4.916 2,568 Total income J14.315 2.568 24.154 341,037 Expenditure Investineni ii)an fees Staly costs PreiMi5es and ¢quipmeni operatin costs Depreciation Financ¢ cost5 Goveri)ance Other c05tS 7221 118,682 128.771 56,319 47,491 1,897 30.841 10.039 7,221 118,682 128.771 56.364 47.491 1.897 30,841 45 1.779 401.261 1.779 45 403.085 Grants and donations 211,462 36,460 24,285 272.207 Total expendÉlure 612,723 1,779 45 36,460 24.285 675,292 Net incomel lexpeiiditurel 1298.408) {1.779) 2.523 (36.460) (131 } (334.255) Net Ineomel(expendilur¢) 15 Staled 8f¢¢r Charging for: 2023 2022 Auditors, remuneration.. Audit Other services 13,500 2,355 11,750 1,810
TRINITY CHURCH BRENTWOOD NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2023 TRUSTEES AND EMPLOYEES 2023 2022 Staff costs during the peri(Kl were as follows.. Gross salaries and wages Social security ¢05ts Pension costs Benefits Contract staff 191.160 15.039 7.476 1,086 97.628 4,780 4.335 959 10.980 214,761 118.682 2023 Number 2022 Number Ministy and minisrry supÈx)rt Administratign Preini5es and Other One employee received emoluments of £60,(K)0 10 £70.000 during the year12022.. None). Employer pension ontributions of £2.214 were also paid for ihis employee. The charity contributed to a tkfined Contribution Pension Scheme on behalf of the above employee duriiig the financial year. Total emoluments including benefi¢& employer's pension and national insurance contributions paid to key man2geimeni personnel durin&p Ihe year was £76,90812022.. £49,588). Detai15 of remuneration and reimbursement of expenses received by Trusltts in ¢onn¢ction with tlieir duties as Tr115tee5 of the charity are disclosed in Note 14.
TRINITY CHURCH BRENTWOOD NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2023 TANGIBLE FIXED ASSETS Land and BuildiDgs Plant aDd Equiprnent Furniture and fitting5 Motor Vehicle5 Total Cost At I Septetnber 2022 Additions 2.108.515 201,861 21,399 116.056 3.765 23.126 2,449.558 25.164 At 31 August 2023 2.108,515 223260 119.821 23.126 2.474.722 D¢pre¢iation At I Sepicmber 2022 Char¥¢ for th¢ year 640,637 24,572 87,016 18,319 71.601 5.443 23.126 822,380 48,J34 At 31 August 2023 665,209 105,335 77.044 23.126 870,714 Net Book Value Al J l August 2023 1.443.306 117,925 42.777 1.604,008 At 31 August 2022 1.467.878 114.845 44,455 1,627,178 INVESTMENT ASSETS 21123 At I September 2022 Additions Disposals Losses during year 4.035.100 953.213 (966,311) 157,073) At 31 August 2023 3.964,929 Investments consist of quoted investments held on UK Stock Exchanges. DEBTORS 2023 2022 Trade debtor5 Prepayments and accrued income Other debtors 258 13,334 2,200 1.624 15.603 2,500 15.792 19,727 CREDITORS: Amounts falling due within one year 2023 2022 Trade creditors Grants payable Accruals Bank loans due < l year 8,477 50,000 19,716 748 8,238 100,000 20,930 720 78,941 129,888 19
TRINITY CHURCH BRENTWOOD NOTES TO THE FINANCIAL STATEMENTS {CODtiDued) FOR THE YEAR ENDED 31 AUGUST 20Z3 CREDITORS: amounts falling due after tsne )'ear 2023 2022 Bank loan due.. I to 2 years 2 to 5 years
5 years 802 2,012 748 2,575 239 2.814 3,562 Th¢ bank loan is Tepayable by 9 November 2027 and has an interesl rdle of1.450/o abov¢ the bank's base rate. Tlie I1n is secured on the chariiy'5 property The Bell House in BrenNood. NET ASSETS BETWEEN FUNDS Unreslricted Desiellllted Restricted Total Fixed assets Inv¢5tment assets Cu¢llt assets CutTent liabilities Creditor5 due after one year 1.604.008 3,964,929 431,173 {78.941) (2.814) 1,604.008 3,964,929 466,268 178,941) 12,814) 28.853 6.242 5.918.355 28.853 6.242 5.953,450 NET ASSETS BETWEEN FUNDS 2022 Unrestricted Deslenated Reslrieted Total Fixed a55e¢5 Investinent assets Cuent assets Current liabilities Creditors due after one year 1.627,178 4,035.100 675.109 1129.888) (3.562) 1.627,178 4.035,100 708,491 1129,8881 13,5621 27,340 6,042 6.203.937 27.340 6.042 6.237,319 10. DESIGNATED FUNDS Opcning Balance Closlng BHlaiice Income Expendilure Traiisf¢rs Special Projects fund Mission Fund 24,294 3.046 24,294 4,559 125,1901 26.703 27.340 125,1901 26,703 28,853 IOO/D of donations were transferred 10 ihe Mission Fund in 2023 Lo be used for worthy causes at the discretl011 of the church's Leadership Team and Minisirj. Teams. The year-end balance is held in cosh. DESIGNATED FUTr4DS 2022 Opening Balance Closing Balance Ineome Expenditure Tr8nsfers Special Project5 fund Misston Fund 32.794 6.323 {8,500} {27,960} 24.294 3.046 24,683 39,117 136,4601 24,683 27,340 20
TRINITY CHURCH BRENTWOOD NOTES TO THE FINANCIAL STATEMENTS (continued FOR THE YF.AR ENDED31 AUGUST 2023 RESTRICTED FUNDS Opening B4lance C105ing Bg11?n£e Income Expenditure Transfers Medical Fund Athletes in Actaon Fund Choir Fund5 Projeet Funds 3.709 965 1,368 3,709 965 1,368 200 7.103 16,903) 6.042 7,103 (6.903) 6,242 The Medical Fund represents donations received io be atiributed w those who attend th¢ ¢hur¢h and ar¢ in need of financial assistance towards their medical bills. The Aihl¢tes in Action Fund represents donaiions received to provid¢ organised sportiiig acriviiies to youiig people in the local community. Such activilies 10 be regular. affordabl¢ aDd supported by adults froin this aiid other local churches. Where the teaching and sharing of ihe Chrisiian faith and lifestyle is integral ro eacli sports session. The Choir Fund represents donatiOll5 received io help support the choir. Projeci funds represeni dooaiions received towards specific projects each year. These were sp¢nt on variou5 projects Includin Kaleein Ejaz Ichrislian ouireach in Manchesier). Hope Mum$ (outreach and support network for sin&Tle Inuinsl and Sure 24 {5UPPOrting a children's home and school in Kciiya}. RESTRICTED FUNDS 2022 OpeThing Bal8nc¢ C1051111 B¥lHnce Income Expendlture Tr8n5fers Medical Fund Athletes in Action Fund Choir Funds Project Funds 3,709 1.096 1.368 3,709 965 1.368 24,154 (24,1541 6.173 24.154 (24.285) 6,042 12. CAPITAL COMMITMENTS There w¢re £Nil capital commitments Is ai 31 August 202312022 £Nil). 13. INDEMNITY INSURANCE The Trustees have taken up indemnity insurance to cover losses arising from any claams tnade against thein by reason of any wrongful act in their capacity of Trustee5. 14. TRANSACTIONS WJTH TRUSTEES AND OTHER RELATED PARTIES The aggregate of donations received from Trustee5 in the year was £33J30 (2022.. £28.6201. No TnJstee5 were reiinbursed loi any expenses incuTred during the year {2022'. £Nil}. One Trustee. Wesley Vaughan. was employed by ihe Charl as Pasioi and received retnuneration and benefits during the year totalling £66,64112022.. £42,698) ror this role. Etnployer pension contribuiions of £2,21412022.' £2,050) were also paid dllring the year. This remuneration is paid under powers provided by paragrdph 5.3 of the Articles of Association. There were no oiher related party transactions during the ¢urrent or prior years.
TRINITY CHURCH BRENTWOOD NOTES TO THE FINANCIAL STATEMENTS{contiNued) FOR THE YEAR ENDED31 AUGUST 2023 15. COMPARATIVE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted Funds Designaltd Restricted Funds Funds Tol81 2022 INCOME FROM: Chfirltable 8etlvities: 295.905 24.154 320.059 Inve.4tment income l.ettings incorne Other income 5.648 10.414 4.916 5.648 10.414 4,916 Total income 316,883 24.154 341,037 EXPENDITURE ON: Cost of rAlslng lunds:. Investment management fees 7221 7.221 Chirlt#ble aeilvltles:. Church Conference5 and Events Book Shop 605.502 1,779 45 36.460 24,285 666,247 1,779 45 607.326 36,460 24,285 668,071 Tol#l expendlture 614.547 36.460 24,285 675,292 Net incomelexpendiluT¢ (297.6641 136,460) 1334,2551 GainlLosse5 on Investment (459.7201 1459.7201 {757,3841 136.460) 1793,9751 Transfers between funds {24.683} 24,683 Net movement in funds {782.067) (11.7771 1793.9751 Funds brought forward 6,986,004 39.117 6,173 7,031,294 Funds carried forward 6203.937 27.340 6,042 6.237.319 22