2024-08-31-accounts

TRINITY CHURCH BRENTWOOD (a company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

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

TRINITY CHURCH BRENTWOOD

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

CONTENTS	Page
Reference and administrative details	1
Trustees’ report	2
Independent auditor’s report	7
Statement of financial activities	10
Balance sheet	11
Statement of cash flows	12
Notes to the financial statements	13

TRINITY CHURCH BRENTWOOD

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHURCH

Trustees/Directors	Lelia Bailey
	Juan Esquivel (resigned 15 July 2024)
	Bernard Gray, Chair (appointed 15 July 2024)
	David Liniker (appointed 15 July 2024)
	Liviu Mercioniu
	Omolade Oshunremi
	Casian Sala (resigned 31 March 2025)
	Tirrian Sharp (resigned 15 July 2024)
	Wesley Vaughan
	Christopher Whealy
Registered office address	HaysMac LLP
	10 Queen Street Place
	London
	EC4R 1AG
Auditors	HaysMac 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

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

The Board of Trustees present the statutory report with the accounts of Trinity Church Brentwood for the year ended 31 August 2024.

The accounts have been prepared in accordance with current accounting policies and comply with the charitable company’s 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

Statement of Trustees’ Responsibilities

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:

• there is no relevant audit information of which the company’s auditors are unaware: and

• 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 and the Company’s Memorandum of Association.

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

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

Remuneration of key management personnel

The trustees recognise that as a board that they, along with the Pastor, 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 adhoc basis. Discussions and resolutions agreed within meetings are recorded in the meeting minutes. The Trustees have also held formal meetings with the Leadership Team.

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

• Church spiritual activites

• Health & Safety

• Data protection and safeguarding

• Finance & Insurance

Public Benefit

In setting the charity’s objectives, the Trustees have paid due regard to the Public Benefit guidance published by the 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.

The aims of the charity are to reach the lost, care for the needy, develop tomorrow’s church by upholding traditional 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.

Fundraising Approach and Performance

The charity does not undertake any formal or organised fundraising activities through professional fundraisers. No complaints were received during the year regarding our fundraising activities (2023: no complaints) and the charity has policies in place when dealing with vulnerable people.

3

TRINITY CHURCH BRENTWOOD

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

4. ACHIEVEMENTS AND PERFORMANCE

Pastoral Report for 2023/24

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 provide Christian fellowship for those of ‘like precious faith’;

• 2) To reach people at home and overseas by communicating the ‘Good News’ of Jesus Christ;

• 3) To release people to biblically meet the needs of others within the local community and the world in which they engage;

• 4) To maintain a place of worship for the meeting of believers;

• 5) To observe the sacraments of baptism by full immersion and the ceremony of the Lord’s table;

6) The solemnisation of marriages;

• 7) The dedication of children and infants;

• 8) To undertake funeral services;

• 9) To create 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:

The Pastor, along with the church Leadership Team have provided the overall spiritual oversight of the church. 2024 has seen the continuing implementation and embedding of the purposes throughout the life of the church. In summary, the purposes are to:

Reach people for Jesus, to Raise them to Christlike maturity and to Release them for ministry in the church and the world in which we engage.

• Reach

• Raise

• Release

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 ongoingly has the opportunity to meet the Pastor, his pastoral care team or the Eldership 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 and care with the Pastor/the Eldership team and the congregation and also 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 the Pastor, the Pastoral care team and the Eldership team or designated other departmental leaders.

All departments in 2023/2024 have received up to date training around the purposes of the church. Ongoing safeguarding training for department leaders and volunteers has also taken place.

Trinity church supported various charities within the local district such as Manna Meals and Foodbank. Trinity also continues to support the local education charity, Brentwood Schools Christian Worker Trust which is based on Trinity Church grounds, this has been instrumental in strengthening our connection with the district schools.

Trinity Church conducts various events which are designed to reach out to the local community, such as Easter trail, Christmas lights, fireworks night and theatre productions. Monthly Family Care workshops are also run from Trinity’s site which offers support and advice to families within the church and the local community.

The Operations Manager and Office Administrator roles continue to work closely with the Trustee Board and the Church Eldership Team to assist in facilitating the church site in the life and work of Trinity Church, in the advancement of the Christian faith.

4

TRINITY CHURCH BRENTWOOD

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

Trustees’ activities

Throughout the year, the Trustees have strengthened their focus on compliance with the charity-driven activities in line with the spiritual purposes of the Church. The Trustees and Leadership teams have worked together to release several donations to other charities within the Brentwood community and beyond. We continue to make the church grounds available to various outreach initiatives, and have also facilitated other church congregations to use the site and buildings for funerals, concerts etc. The swimming pool continues to be a valuable outreach for us by Trinity Church attendees and their guests to enjoy and strengthen community bonds.

The church continued to receive strong and committed donations. Church growth has also resulted in an increase in the number of people giving in support the work of the church. However, we recognise the impact on the members’ income due to the ongoing economic instability which could impact the 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.

Considering the level of our reserves, the Trustees have retained charity specialist providers to monitor the investment policy to ensure it remains aligned with the purposes of the Church.

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, and to submit planning applications to the local authority for approval. The planning application was successful, and the Trustees and Leadership Teams are currently assessing the next steps.

5. FINANCIAL REVIEW

The charity recorded a net surplus for the year of £281,288 (2023: deficit £283,869). Total income from church activities increased by £62,796 to £430,017 (2023: £367,221). Expenditure decreased marginally by £5,368 to £588,649 (2023: £594,017). 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 benefit to the Church.

The investment portfolio recovered some of the losses incurred in the prior year and included in overall net gain an amount of £439,920 relating to the increase in the portfolio value. The value of the portfolio at 31 August 2024 is £4,385,973 (2023: £3,964,929).

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 £4,622,556 (2023: £4,314,347). The trustees continually review their working capital needs and monitor the free reserves position to ensure that the charity continues to have a firm base from which to pursue its objectives.

The Board retained the services of Epoch Consulting and developed an ethical investment policy with the main objective to safeguard the charity’s long term funding requirements.

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; that the process covers key risk areas; and that 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. 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. The principal risks and uncertainties identified by the charity are as follows:

5

TRINITY CHURCH BRENTWOOD

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

Church Estate

There has been restricted investment into the Church estate over a sustained period, resulting in operational limitations and raising the risk profile associated with both health and safety and security. During the year, and since reopening of the site after lockdown, there has been critical maintenance work undertaken at the Coxtie Green Road site; these were identified in the site survey undertaken in 2020 and in line with the purposes of the charity.

The Church continues to maintain a register of operational works required and approval of funding associated with health and safety has been prioritised. Health and safety is monitored by the Site Manager and activities are risk assessed in line with Government guidelines.

Investment policy and performance

The sale of Brizes Park has resulted in a significant investment of funds into the charity trust and the Board has a legal duty to ensure that funds are invested wisely and in line with the Church vision and purposes. The investment funds portfolio has been adversely impacted by market conditions. However, there is no immediate need to access the funds and the Trustees will continue to have quarterly performance reviews with Epoch Consulting.

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.

THANKS

Our thanks to all those who have supported us during the past year. We go forward building on the foundation of God’s divine purposes and seeking to fulfil His will in what we do.

AUDITORS

On 18 November 2024 the company’s auditor changed its name from haysmacintyre LLP to HaysMac LLP.

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 28 May 2025 and signed on their behalf, by:

Bernard Gray

Trustee

6

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRINITY CHURCH BRENTWOOD

Opinion

We have audited the financial statements of Trinity Church Brentwood for the year ended 31 August 2024 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:

• give a true and fair view of the state of the charitable company’s affairs as at 31 August 2024 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;

• 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. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have 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

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in 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 Trustee’s Report. 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 Trustees’ Report (which includes the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the Trustees’ Report has been prepared in accordance with applicable legal requirements.

7

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRINITY CHURCH BRENTWOOD

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 Trustees’ Report (which incorporates the directors’ report).

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

• certain disclosures of trustees’ remuneration specified by law are not made; or

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

• the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Trustees’ Report and from the requirement to prepare a strategic report.

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 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.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue 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.

Auditor’s responsibilities for 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 misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our 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.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the 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:

• Review of minutes of trustees’ meetings;

• 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;

• Evaluating management’s controls designed to prevent and detect irregularities;

• Identifying and testing journals based on risk profile; and

• Challenging assumptions and judgements made by management in their critical accounting estimates.

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.

8

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF TRINITY CHURCH BRENTWOOD

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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) For and on behalf of HaysMac LLP, Statutory Auditor

30 May

…………………..…….…. 2025

10 Queen Street Place London EC1R 4AG

9

TRINITY CHURCH BRENTWOOD

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

FOR THE YEAR ENDED 31 AUGUST 2024

		Unrestricted	Designated	Restricted	Total	Total
		Funds	Funds	Funds	2024	2023
	Notes	£	£	£	£	£
INCOME FROM:
Charitable activities: -
Donations		360,263	-	13,177	373,440	331,064
Investment income		21,462	-	-	21,462	18,401
Lettings income		16,933	-	-	16,933	11,730
Other income		18,182	-	-	18,182	6,026
		-------------------	----------------	------------------	-------------------	-------------------
Total income	2	416,840	-	13,177	430,017	367,221
		--------------------	----------------	-----------------	-------------------	-------------------
EXPENDITURE ON:
Cost of raising funds: -
Investment management fees		29,770	-	-	29,770	22,341
		--------------------	-----------------	--------------------	--------------------	--------------------
Charitable activities: -
Church		511,146	32,000	15,710	558,856	570,709
Conferences and Events		23	-	-	23	967
		--------------------	-----------------	--------------------	--------------------	--------------------
		511,169	32,000	15,710	558,879	571,676
		--------------------	-----------------	--------------------	--------------------	--------------------
Total expenditure	2	540,939	32,000	15,710	588,649	594,017
		--------------------	----------------	---------------------	--------------------	--------------------
Net (expenditure)/income		(124,099)	(32,000)	(2,533)	(158,632)	(226,796)
Gains/(losses) on investments	5	439,920	-	-	439,920	(57,073)
		---------------------	----------------	-----------------	--------------------	--------------------
		315,821	(32,000)	(2,533)	281,288	(283,869)
Transfers between funds	10,11	(5,664)	5,664	-	-	-
		---------------------	----------------	-----------------	--------------------	--------------------
Net movement in funds		310,157	(26,336)	(2,533)	281,288	(283,869)
Funds brought forward		5,918,355	28,853	6,242	5,953,450	6,237,319
		---------------------	----------------	-----------------	-------------------	-------------------
Funds carried forward		6,228,512	2,517	3,709	6,234,738	5,953,450
		===========	========	========	=========	=========

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 15.

All the activities above relate to continuing activities.

10

COMPANY NUMBER: 05642162

TRINITY CHURCH BRENTWOOD

BALANCE SHEET

FOR THE YEAR ENDED 31 AUGUST 2024

			2024			2023
	Notes	£		£	£		£
FIXED ASSETS
Tangible assets	4			1,605,956			1,604,008
Investment assets	5			4,385,973			3,964,929
				-------------------			-------------------
				5,991,929			5,568,937
CURRENT ASSETS
Debtors	6	30,271	30,271		15,792	15,792
Cash at bank and in hand		246,203	246,203		450,476	450,476
		-----------------	-----------------		-----------------	-----------------
		276,474	276,474		466,268	466,268
CREDITORS: amounts
falling due within one year	7	(31,652)	(31,652)		(78,941)	(78,941)
		-----------------	-----------------		-----------------	-----------------
NET CURRENT ASSETS				244,822			387,327
CREDITORS: amounts
falling due after one year	8			(2,013)			(2,814)
				-------------------			-------------------
NET ASSETS				6,234,738			5,953,450
				==========			==========
RESERVES
Unrestricted funds	9			6,228,512			5,918,355
Designated funds	10			2,517			28,853
Restricted funds	11			3,709			6,242
				--------------------			--------------------
				6,234,738			5,953,450
				==========			==========

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 28 May 2025 and were signed below on its behalf by:

Bernard Gray

Trustee

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

11

TRINITY CHURCH BRENTWOOD

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2024

	Note	2024	2023
		£	£
Cash flows from operating activities	A	(192,939)	(242,721)
		-------------------	-------------------
Cash flows from investing activities
Interest income		21,462	18,401
Interest paid		(1,221)	(1,182)
Proceeds from sale of fixed assets		8,534	-
Purchase of tangible fixed assets		(58,316)	(25,164)
Proceeds from sale of investments		1,023,028	966,311
Purchase of investment assets		(1,004,152)	(953,213)
		-------------------	-------------------
Cash flows from investing activities		(10,665)	5,153
Cash flows from financing activities
Repayment of bank loans		(669)	(720)
		-------------------	-------------------
Decrease in cash and cash equivalents in the year		(204,273)	(238,288)
		-------------------	-------------------
Cash and cash equivalents at the beginning of the year		450,476	688,764
		-------------------	-------------------
Total cash and cash equivalents at the end of the year		246,203	450,476
		==========	==========
A: RECONCILIATION OF NET (EXPENDITURE)/INCOME	TO NET CASH	FLOW FROM OPERATING
ACTIVITIES
		2024	2023
		£	£
Net income/(expenditure) for the reporting period		281,288	(283,869)
Adjustments for:
Investment income		(21,462)	(18,401)
Interest paid		1,221	1,182
Depreciation charge		52,984	48,334
Surplus of sale of fixed assets		(5,150)	-
(Gains)/losses on investment assets		(439,920)	57,073
(Increase/decrease in debtors		(14,479)	3,935
(Decrease) in creditors		(47,421)	(50,975)
		-------------------	-------------------
Cash flows from operating activities		(192,939)	(242,721)
		=========	==========
B: ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)
	At start	Cash	At end
	of year	Flows	of year
	£	£	£
Bank accounts	450,476	(204,273)	246,203
Bank loans	(3,562)	669	(2,893)
	------------------	------------------	------------------
	446,914	(203,604)	243,310
	=========	=========	=========

12

NOTES TO THE FINANCIAL STATEMENTS

TRINITY CHURCH BRENTWOOD

FOR THE YEAR ENDED 31 AUGUST 2024

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’s financial viability. Accordingly, they also continue 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.

Charitable expenditure relates to costs incurred in delivering the charity’s activities and services to its beneficiaries. 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 to the fund, together with a fair allocation of overheads and support costs.

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.

13

NOTES TO THE FINANCIAL STATEMENTS (continued)

TRINITY CHURCH BRENTWOOD

FOR THE YEAR ENDED 31 AUGUST 2024

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.

A full years’ worth of depreciation is charged in the year of asset purchase regardless at which point the asset is purchased. 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

Investment assets

Investments held for the long-term to generate income or capital growth are carried at fair value as fixed assets. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.

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. 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.

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TRINITY CHURCH BRENTWOOD

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

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				Total
	Church	and Choir	Designated	Restricted	Total 2024	2023
	£	£	£	£	£	£
Income
Donations and legacies	360,263	-	-	13,177	373,440	331,064
Investment income	21,462	-	-	-	21,462	18,401
Lettings income	16,933	-	-	-	16,933	11,730
Other income	13,032	-	-	-	13,032	6,026
Surplus on sale of fixed assets	5,150	-	-	-	5,150	-
	------------------	------------------	-------------------	---------------------	--------------------	--------------------
Total income	416,840	-	-	13,177	430,017	367,221
Expenditure
Investment manager’s fees	29,770	-	-	-	29,770	22,341
Staff costs	190,669	-	-	-	190,669	214,761
Premises and equipment	105,870	-	-	-	105,870	129,210
Operating costs	77,565	-	-	-	77,565	72,280
Depreciation	52,985	-	-	-	52,985	48,334
Finance costs	1,221	-	-	-	1,221	1,182
Governance	33,624	-	-	-	33,624	26,355
Other costs	26,320	23	-	-	26,343	20,247
	------------------	------------------	----------------	------------------	--------------------	--------------------
	518,024	23	-	-	518,047	534,710
Grants and donations	22,892	-	32,000	15,710	70,602	59,307
	-------------------	-------------------	-------------------	--------------------	--------------------	--------------------
Total expenditure	540,916	23	32,000	15,710	588,649	594,017
	------------------	------------------	------------------	-------------------	--------------------	--------------------
Net (expenditure)/
income	(124,076)	(23)	(32,000)	(2,533)	(158,632)	(226,796)
	=========	=========	=========	=========	=========	=========

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TRINITY CHURCH BRENTWOOD

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

2. ANALYSIS OF INCOME AND EXPENDITURE (continued)

		Conferences
	Church	and Choir	Designated	Restricted	Total
	2023	2023	2023	2023	2023
	£	£	£	£	£
Income
Donations and legacies	323,961	-	-	7,103	331,064
Investment income	18,401	-	-	-	18,401
Lettings income	11,730	-	-	-	11,730
Other income	6,026	-	-	-	6,026
	------------------	------------------	-------------------	---------------------	--------------------
Total income	360,118	-	-	7,103	367,221
Expenditure
Investment man fees	22,341	-	-	-	22,341
Staff costs	214,761	-	-	-	214,761
Premises and equipment	129,210	-	-	-	129,210
Operating costs	72,280	-	-	-	72,280
Depreciation	48,334	-	-	-	48,334
Finance costs	1,182	-	-	-	1,182
Governance	26,355	-	-	-	26,355
Other costs	19,280	967	-	-	20,247
	------------------	------------------	----------------	------------------	--------------------
	533,743	967	-	-	534,710
Grants and donations	27,214	-	25,190	6,903	59,307
	-------------------	-------------------	-------------------	--------------------	--------------------
Total expenditure	560,957	967	25,190	6,903	594,017
	------------------	------------------	------------------	-------------------	--------------------
Net income/
(expenditure)	(200,839)	(967)	(25,190)	200	(226,796)
	=========	=========	=========	=========	=========

Net income/(expenditure) is stated after charging for:

Auditors’ remuneration:

• Audit

• Other services

2024	2023
£	£
14,850	13,500
2,198	2,355

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TRINITY CHURCH BRENTWOOD

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

3.	TRUSTEES AND EMPLOYEES	2024	2023
		£	£
	Staff costs during the period were as follows:
	Gross salaries and wages	170,100	191,160
	Social security costs	12,776	15,039
	Pension costs	6,823	7,476
	Benefits	970	1,086
		------------------	--------------------
		190,669	214,761
		========	=========
		2024	2023
		Number	Number
	Ministry and ministry support	1	1
	Administration	3	4
	Premises and Other	1	1
		------------	-----------
		5	6
		======	======

One employee received emoluments of between £60,000 and £70,000 during the year (2023: one).

Total emoluments including benefits, employer’s pension and national insurance contributions paid to key management personnel during the year was £78,397 (2023: £76,908).

Details of remuneration and reimbursement of expenses received by Trustees in connection with their duties as Trustees of the charity are disclosed in Note 14.

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TRINITY CHURCH BRENTWOOD

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

4.	TANGIBLE FIXED ASSETS	Land and	Plant and	Furniture	Motor
		Buildings	Equipment	and fittings	Vehicles	Total
		£	£	£	£	£
	Cost
	At 1 September 2023	2,108,515	223,260	119,821	23,126	2,474,722
	Additions	30,947	26,259	1,110	-	58,316
	Disposals	-	(6,985)	-	-	(6,985)
		----------------------	-----------------	------------------	-----------------	---------------------
	At 31 August 2024	2,139,462	242,534	120,931	23,126	2,526,053
		--------------------	-----------------	-----------------	-----------------	---------------------
	Depreciation
	At 1 September 2023	665,209	105,335	77,044	23,126	870,714
	Charge for the year	27,667	19,815	5,503	-	52,985
	Eliminated on disposal	-	(3,602)	-	-	(3,602)
		--------------------	-----------------	-----------------	-----------------	---------------------
	At 31 August 2024	692,876	121,548	82,547	23,126	920,097
		--------------------	------------------	-----------------	-----------------	--------------------
	Net Book Value
	At 31 August 2024	1,446,586	120,986	38,384	-	1,605,956
		==========	========	========	========	==========
	At 31 August 2023	1,443,306	117,925	42,777	-	1,604,008
		==========	========	========	========	==========
5.	INVESTMENT ASSETS				2024
					£
	At 1 September 2023				3,964,929
	Additions				1,004,152
	Disposals				(1,023,028)
	Gains during year				439,920
					------------------
	At 31 August 2024				4,385,973
					=========
	Investments consist of quoted investments held on		UK Stock Exchanges.
6.	DEBTORS				2024	2023
					£	£
	Trade debtors				9,148	258
	Prepayments and accrued income				19,573	13,334
	Other debtors				1,550	2,200
					----------------	----------------
					30,271	15,792
					========	========
7.	CREDITORS: amounts falling due				2024	2023
	within one year				£	£
	Trade creditors				6,882	8,477
	Grants payable				-	50,000
	PAYE and NIC				4,253	-
	Accruals				19,637	19,716
	Bank loans due < 1 year				880	748
					------------------	------------------
					31,652	78,941
					=========	========

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TRINITY CHURCH BRENTWOOD

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

8.	CREDITORS: amounts falling due	2024	2023
	after one year	£	£
	Bank loan due:
	1 to 2 years	857	802
	2 to 5 years	1,156	2,012
		------------------	--------------------
		2,013	2,814
		=========	========
	The bank loan is repayable by 9 November 2027 and has an interest rate of 1.45% above the bank’s		base rate. The
	loan is secured on the charity’s property The Bell House in Brentwood.

9.	NET ASSETS BETWEEN	FUNDS		Unrestricted	Designated	Restricted	Total
				£	£	£	£
	Fixed assets			1,605,956	-	-	1,605,956
	Investment assets			4,385,973	-	-	4,385,973
	Current assets			270,248	2,517	3,709	276,474
	Current liabilities			(31,652)	-	-	(31,652)
	Creditors due after one year			(2,013)	-	-	(2,013)
				-------------------	----------------	------------------	--------------------
				6,228,512	2,517	3,709	6,234,738
				=========	========	========	=========
	NET ASSETS BETWEEN	FUNDS	2023	Unrestricted	Designated	Restricted	Total
				£	£	£	£
	Fixed assets			1,604,008	-	-	1,604,008
	Investment assets			3,964,929	-	-	3,964,929
	Current assets			431,173	28,853	6,242	466,268
	Current liabilities			(78,941)	-	-	(78,941)
	Creditors due after one year			(2,814)	-	-	(2,814)
				-------------------	----------------	------------------	--------------------
				5,918,355	28,853	6,242	5,953,450
				=========	========	========	=========
10.	DESIGNATED FUNDS	Opening					Closing
		Balance		Income	Expenditure	Transfers	Balance
			£	£	£	£	£
	Special Projects fund	24,294		-	-	(24,294)	-
	Mission Fund		4,559	-	(32,000)	29,958	2,517
		---------------		----------------	-----------------	---------------	---------------
		28,853		-	(32,000)	5,664	2,517
		=======		==========	=========	=========	========

10% of donations were transferred to the Mission Fund to be used for worthy causes at the discretion of the church’s Leadership Group and Ministry Teams. The year-end balance is held in cash.

DESIGNATED FUNDS 2023	Opening				Closing
	Balance	Income	Expenditure	Transfers	Balance
	£	£	£	£	£
Special Projects fund	24,294	-		-	24,294
Mission Fund	3,046	-	(25,190)	26,703	4,559
	---------------	----------------	-----------------	---------------	---------------
	27,340	-	(25,190)	26,703	28,853
	=======	==========	=========	=========	========

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TRINITY CHURCH BRENTWOOD

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

11.	RESTRICTED FUNDS	Opening				Closing
		Balance	Income	Expenditure	Transfers	Balance
		£	£	£	£	£
	Medical Fund	3,709	-	-	-	3,709
	Athletes in Action Fund	965	-	(965)	-	-
	Choir Funds	1,368	-	(1,368)	-	-
	Project Funds	200	13,177	(13,377)	-	-
		---------------	----------------	-----------------	---------------	---------------
		6,242	13,177	(15,710)	-	3,709
		========	========	========	========	========

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. These were spent on various projects including Ukraine and Romania support, Sure 24 (supporting a children's home and school in Kenya) and Neal Morse Concert.

RESTRICTED FUNDS 2023
	Opening				Closing
	Balance	Income	Expenditure	Transfers	Balance
	£	£	£	£	£
Medical Fund	3,709	-	-	-	3,709
Athletes in Action Fund	965	-	-	-	965
Choir Funds	1,368	-	-	-	1,368
Project Funds	-	7,103	(6,903)	-	200
	---------------	----------------	-----------------	---------------	---------------
	6,042	7,103	(6,903)	-	6,242
	========	========	========	========	========

12. CAPITAL COMMITMENTS

There were £Nil capital commitments as at 31 August 2024 (2023: £Nil).

13. 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.

14. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES

The aggregate of donations received from trustees in the year was £34,787 (2023: £33,330). No trustees were reimbursed for any expenses incurred during the year (2023: £Nil).

One trustee, Wesley Vaughan, was employed by the charity as Pastor and received remuneration and benefits during the year totalling £68,048 (2023: £66,641) for this role. Employer pension contributions of £2,214 (2023: £2,214) were also paid during the year. This remuneration is paid under powers provided by paragraph 5.3 of the Articles of Association.

There were no other related party transactions during the current or prior years.

20

TRINITY CHURCH BRENTWOOD

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 AUGUST 2024

15. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted	Designated	Restricted	Total
	Funds	Funds	Funds	2023
	£	£	£	£
INCOME FROM:
Charitable activities: -
Donations	323,961	-	7,103	331,064
Investment income	18,401	-	-	18,401
Lettings income	11,730	-	-	11,730
Other income	6,026	-	-	6,026
	-------------------	----------------	------------------	-------------------
Total income	360,118	-	7,103	367,221
	--------------------	----------------	-----------------	-------------------
EXPENDITURE ON:
Cost of raising funds:-
Investment management fees	22,341	-	-	22,341
	--------------------	-----------------	--------------------	--------------------
Charitable activities:-
Church	538,616	25,190	6,903	570,709
Conferences and Choir	967	-	-	967
Book Shop	-	-	-	-
	--------------------	-----------------	--------------------	--------------------
	539,583	25,190	6,903	571,676
	--------------------	-----------------	--------------------	--------------------
Total expenditure	561,924	25,190	6,903	594,017
	--------------------	----------------	---------------------	--------------------
Net income/expenditure	(201,806)	(25,190)	200	(226,796)
Losses on investments	(57,073)	-	-	(57,073)
	---------------------	----------------	-----------------	--------------------
	(258,879)	(25,190)	200	(283,869)
Transfers between funds	(26,703)	26,703	-	-
	---------------------	----------------	-----------------	--------------------
Net movement in funds	(285,582)	1,513	200	(283,869)
Funds brought forward	6,203,937	27,340	6,042	6,237,319
	---------------------	----------------	-----------------	-------------------
Funds carried forward	5,918,355	28,853	6,242	5,953,450
	===========	========	========	=========

21