Trinity Ministries Charitable Trust November 2021
Tuesday 30
Report to the Trustees for annual Trustees meeting up to the end of accounting period 5.4.2021
Purpose:
The Charitable Trust was set up in October 2006, and although ‘Charitable Purposes’ has a legal definition as follows: 1) The advancement of religion. 2) The advancement of Education. 3) The Relief of Poverty & 4) For the Public benefit, the passion of the original settlors is for the advancement of the Christian faith through evangelistic outreach or through humanitarian acts which are active demonstrations of God’s love for his children.
There is no geographical bias.
Trustees
Mr Jonathan Cobb. Mr Graham Cleveland, Mr Andrew Smart
Mr Andrew Smart has continued to indicate that he does not wish to continue in the role but is still a trustee until such time as he will be replaced.
The trust is actively seeking a fourth trustee.
Structure:
Following the novation of private donors to Stewardship within the year ending April 2020, The trust now primarily acts as a deposit for the charitable donations of the Directors of Trinity Wealth Management Ltd.
In addition where a client of Trinity has bequeathed a gift to TMCT through their Will, the trust will still receive and distribute these.
Funds are securely held with Kingdom Bank and Manchester Building Society whilst the ongoing running account is held with a Lloyds current account
In addition, a Stockbroking account with Charles Stanley is set up and holds shares donated directly by one client. These remain untouched.
Gifts Made:
With the advent of Covid, the trustees of TMCT were keen to support a local charity which was making a difference to the lives of those affected by the pandemic. TMCT identified an excellent Christian charity called Restore Hope based in Latimer, Chesham. Amongst other ministries, the charity was operating a food bank to those who were struggling financially.
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The trustees felt that this was a project which we would like to partner with Trinity clients and the project was actively marketed to Trinity clients (including those who now held Stewardship accounts.)
In April 2020 a substantial gift of £25,000 was paid to Restore Hope.
The trust has been supporting Sara Cox who is a severely disabled and financially compromised woman in St Albans. Gifts are made into the trust and as needs arise, payments made to her in particular to ensure her house is fully adapted to her condition. A single sum of £18,000 was paid out in January 2021.
The trustees have made the decision to stop taking any future payments and have helped donors facilitate giving through a different medium. The funds remain in credit but will be drawn down to zero as her needs arise.
Regular Giving:
TMCT continues to give £433p/m to St Pauls Parish Church in St Albans to help to fund for a CAP UK worker.
TMCT continues to give £500p/m to the outreach ‘Transform UK’ to fund a day a week for an outreach worker who supports and brings together Christians in major businesses.
TMCT continues to give £150p/m to YouthWorks which works with young people in schools in Luton.
TMCT continues to give £21 p/m to Toybox for the sponsoring of a child in Latin America.
TMCT continues to give £100 per month to Azalea, a charity that works to with street women in Luton.
In total, during the tax year a combined total of £117,797.65 (including regular payments and fees) was made in donation payments out of the trust.
Share Dealing
During the above period no new donor used this dealing service to make a gift into Trinity Ministries.
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Trinity Ministries Charitable Trust Accounts for the period ended 5 April 2021
| Income Donations received Gift aid reclaimed Interest received Donations made Loss on sale of shares Excess of expenditure over income Current assets Lloyds TSB Kingdom bank Gift aid debtor Reserves Reserves b/fwd Excess for the year Reserves c/fwd Represented by: 'Client' reserves TWM reserves |
- 117,797.65 - |
72,153.13 3,697.30 30.81 |
|---|---|---|
| 75,881.24 - 117,797.65 |
||
| 15,369.94 88,004.31 315.00 |
||
| - 41,916.41 | ||
103,689.25 |
||
| 145,605.66 - 41,916.41 |
||
| 103,689.25 | ||
| 76,745.13 26,944.12 |
||
| 103,689.25 | ||
| - |
(((( Charts vo ort tAI erts AL3 6PA Chartered Certified Accountants and Business Advisors The Trusttts of Trinity Ministries Charitable Trust Cedar Court 6c Parkway Porters Wood St Albans Hertfordshire AL3 6PA nauiries rtsw co. www.chartswood.co.uk Our Ref: Dale.. TDlas 21 July ?0?? Dear Sirs TRINITY NIINISTRIES CH.4RITABLE TRUST (Charit}' fumber . 11181101 The accounts i¥ere prepared by Mr Gra1M Clei-eland of Trinily Il'ealth Managemcnt. 6C Cedar Court, Parkii'ay, Si Albans. AL3 6PA and Diane Ambler of DSA Bookkeeping., Thc Old Boardroom, Collett Road, Ware SGI ? 7LR. Hoivei'er, as Graham is a trustee of Trinity Ministries Chariiable Ttusi. the trustces havc asked us to cary out an independeni examinalion to comply .11 the Charity Commissions regulations. ITe have examincd the accounts for the Financial Year ?0190? l and the report belo. relates to an independent e.Kaminaiion carried out undci scciion 43 of the 1993 Act and ihe examinaiion has been conducted in accordance with the Directions given by the Commission. We ¢an confirni that no matter has come lo my aiiention which would givc me any reasonable cause to believe ihat in any maierial asp1.. accounlingF records for non-company charities have not been kep( in accordance 'Ith seciion 41 of ihe Charities Aci1993- or .here the charity is a charitable company, Ihe accounling records hak'e noi been kept in accordance ii'iih seciion 386 of the Cotnpatiies Act ?006. or the accounts do not accord 'Ith the accounting records; or Is'here the accounts are prepared on an accruals basis for a non-company charity under section 4?{ l ) of ihe Act 1993 and those accounis do not comply with the requirements of the ?008 Regulations sctting out the fonn and ¢onleni of chariry accounts- (a charity's accounts consisi of a Statement of Financial Activitics and balance shcct and noics and are prepared in accordance ifv'ith the methods and principles sel out in Ihe Statement of Recommended Practice). or where the accounts are prepared for a charitable company, the accounts do not comply i¥ith seclion 396 of the Companies Act and the methods and principles of the SORP. 80 A¢¢A Directors.. ACCA LO Dy&l.Gbj
In the process of Carrying out thc cxamination, we can also stale ihat no mailer has come to our aiiention in conneclion with the examination io which attention should be drawn in the report to enable a proper understanding of ihe accounts to be reached. Should you require any further inforniaiion. please do tx>t hesitate to contact us. Yours faithfully Mr T Desai BA{Hons). FCCA