``` REGISTERED CHARITY NUMBER: 1119926 ``` ``` Report of the Trustees and ``` ``` Unaudited Financial Statements for the Year Ended 31 December 2021 ``` ``` for ``` ``` The Presence Charitable Trust ``` ``` Lee Accounting Services 2018 Limited Trading as Lee & Co 26 High Street Rickmansworth Hertfordshire WD3 1ER ``` ``` The Presence Charitable Trust ``` ``` Contents of the Financial Statements for the Year Ended 31 December 2021 ``` ||`Page`| |---|---| |`Report of the Trustees`|`1 to 4`| |`Independent Examiner's Report`|`5`| |`Statement of Financial Activities`|`6`| |`Balance Sheet`|`7`| |`Notes to the Financial Statements`|`8 to 13`| |`Detailed Statement of Financial Activities`|`14`| ``` The Presence Charitable Trust ``` ``` for the Year Ended 31 December 2021 ``` ## `Report of the Trustees` ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended 31December2021.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities: StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with the FinancialReportingStandardapplicablein the UK and Republicof Ireland(FRS 102)(effective1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` TheobjectivesaretoadvancetheChristianreligionthroughtheholdingofprayermeetings,the provision oftrainingonChristianthemes,holdingeventsandproducingand/ordistributingliteratureon Christianity to enlighten others about the Christian religion. ``` ``` ThecharityalsoexiststoprovidebenefittotheUnitedKingdomwithoutdistinctionofsex, sexual orientation,raceorofpolitical,religiousorotheropinionsbyassociatingtogetherthesaidresidents and thelocalauthorities,voluntaryandotherorganisations,inacommonefforttoadvanceeducationand to providefacilitiesin the interestsof socialwelfareforrecreationleisuretimeoccupationwiththe objective of improving the conditions of life for the residents. ``` ``` Thetrusteesconsiderthatthecharityexistsforthepurposeofthelocalpublicbenefitwithinthe United Kingdom as defined in Section 3 of the Charities Act 2006. ``` ``` Page 1 ``` ``` The Presence Charitable Trust ``` ``` for the Year Ended 31 December 2021 ``` ## `Report of the Trustees` ## **`ACHIEVEMENT AND PERFORMANCE`** ``` Theprimaryfocusduring2021wasthecontinueddevelopmentoftheWellwickHousefacilityand the expansion of the work at Wellwick House as a Christian Retreat Centre. ``` ``` The primary focus for 2021 was therefore two-fold: ``` `1. Continued development of Wellwick House` `2. Expansion of the Charity's work from Wellwick House` ``` Taking each of these 2021 goals items in turn. ``` ## **`1. Continued Development of Wellwick House`** ``` Theworkonthemainhouseisnowessentiallycomplete,makingitfullyoperationaltobeusedfor the Charity's purposes. ``` ``` WorkcontinuesonlandscapingthegroundsandondevelopingtheSummerHouseandStables buildings that sit within the site's 15-acre land. ``` ## **`2. Expansion of the Charity's work from Wellwick House`** ``` Workcontinuedduring 2021to developand extendthe user group of WellwickHousethroughthe 'Friends ofWellwick'scheme.During2021thenumberofindividualsbenefittinginthiswaythroughthe Charity's work expanded from 14 to 37. ``` ``` The Charity continued to developed materials and intellectual property which support this network. ``` ``` During 2021 the key indicators used to assess performance mirrored the two areas of focus: ``` ``` Development of the Site: House: Time (97%), Money (95%) Grounds: Time (45%), Monday (63%) ``` ``` 'Friends of Wellwick': Memberships: 37 (2020 - 14) ``` ``` Page 2 ``` ``` The Presence Charitable Trust ``` ``` for the Year Ended 31 December 2021 ``` ## `Report of the Trustees` ## **`FINANCIAL REVIEW`** ``` The Statement of Financial Activities for the year is set out on page 7 of the accounts. ``` ``` PCT'spolicyis to hold unrestrictedcash reservesequivalentto three-month'soperatingcostsin addition to the Trust's long term income generating stock reserves. ``` ``` At the end of 2021 PCT was holding unrestricted reserves of £4.21 million (2020: £3.98 million). ``` ``` The financialpositionof the Charitywasaffectedin 2021primarilyby expenditureon WellwickHouse and capital gains on the Charity's investment gains on its FTSE stocks and shares portfolio. ``` ``` PCT'sinvestmentpolicyprecludesitfrominvestingwherethesocial,environmentalor ethical considerations would be in breach of the Charity's Christian ethos. ``` ``` The Charity's primary funding source in 2021 was investment income. ``` ``` Theresultsshowasurplusfortheyearof£232,681(2020:£167,784deficit)madeupofan operating surplusof£35,088(primarilyduetoincreasedinvestmentincomelessexpenditureonWellwick)and an increase in the value of the stocks and shares portfolio of £197,593. ``` ## **`FUTURE PLANS`** ``` TheTrusteesexpecttheobjectiveoftheCharitytoremainunchangedwhichistoadvancethe Christian religionthroughtheholdingofprayermeetings,theprovisionoftrainingonChristianthemes, holding eventsandproducingand/ordistributingliteratureonChristianitytoenlightenothersaboutthe Christian religion ``` ``` Theprimaryfocusin 2022willbe tocontinueoperatingWellwickHouseas a retreatcentreand a national hub for the dissemination of the Trust's teaching material and literature. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ``` ThePresenceCharitableTrustisaregisteredcharitysetupasanunincorporatedassociationon6 July 2006. Detail's of the charity number and relevant addresses can be found on the charity information page. ``` ``` Themanagementofthecharityistheresponsibilityofthetrustees.Newtrusteesareappointedon the recommendationofexistingtrusteesandwhoaredeemedtohaveappropriateexperienceand local knowledge for the role. ``` ``` The Charityis currentlyoperatedby the Trusteeswhomeeton a quarterlybasisand ad hocas required to review decisions. No decisions or operations are currently delegated to staff. ``` ``` Thereare no formalproceduresfor inductingnew trustees,however,any new trusteeappointedwould be practicallyawareoftheworkundertakenbythecharityandsupportisalwaysprovidedbythe founding trustees. ``` ``` Details of related party transactions, where applicable, can be found in the notes to the accounts. ``` ``` Thetrusteeshaveassessedthemajorriskstowhichthecharityisexposed,andaresatisfiedthat systems are in place to mitigate exposure to these risks. ``` ``` Page 3 ``` Th Presen hari Tr Re f rthey ees arEn REFERENCE AND ADMINISTRATIVE D￿AlL$ Reglstered Charlty number 1119926 Prfnclpal addre5$ SO Cassiobury Drlve Watford Hertford5hire WDI? 3AE Trustees S Cardell Mrs K M Cardell Ms E Pembroke Independent Examlner Lee Accountln8 SeNices 2018 Llmlted Trading as Lee & Co 26 HiBh Street Rlckmansworth HertfordshSre W03 IER Bankers Santander UK plc Customer Sernice Centre Bootle Merseyslde L30 4GB Approved by order of the board of trustees on ......,................... and signed on Its behalf by.. S Cardell Trustee Page 4 Inde endent Examiner's Re Tr Independent examlner's report to the trustees of The Presence Charitable Trust I report to the charity trustèes on my examination of the accounts of The Presence Charitable Trust (the Trust) for the year ended 31 December 2021. Respon5ibilitie5 and basis of report As the charity trustees of the Trust you are resPOn5ible foi the preparatlon of the accounts in a¢cordan¢e with the requirements of the Charlties Act 20111'the Act'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicablé Oirections given by the Charity Commission under Section 14515llbl of the Act. Independent examlner's ststement I have completed my examination. I confirm that no material matters have come to my attentlon in connection with the examination glving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as requlred by sectlon 130 of the Act,. or the account5 do not accord with those records,. or the accounts do not comply with the appllcable requirements concerning the form and content of accounts set out In the Charitles (Account5 and Reports) Regulatlons 2008 other than any requirement that the accounts give a true and falr vlew whlch Is not a matter considered as part of an indèpendent examlnatlon. I have no concerns and have come across no other matters In connectlon wlth the examinatbon to whlch attention should be drawn in thi5 report in order to enable a proper understandinB of the accounts to be reached. John D Lee FCA ICAEW Lee Accountlng Services 2018 Limited Trading as Lee & Co 26 Hlgh Street Rickmansworth Hertfordshire WD3 IER 18 August 2022 Page 5 ``` The Presence Charitable Trust ``` ## `Statement of Financial Activities` ## `for the Year Ended 31 December 2021` |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
`2`
`Other income`
`3`
**`Total`**
**`EXPENDITURE ON`**
`Other`
`4`
`Net gains/(losses) on investments`
`4`
**`NET INCOME/(EXPENDITURE)`**
`4`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`4`
**`TOTAL FUNDS CARRIED FORWARD`**
`4`|**`31.12.21`**
**`Unrestricted`**
**`fund`**
**`£`**
**`48,485`**
**`-`**
**`48,485`**
**`13,997`**
**`197,593`**
**`232,081`**
**`3,981,543`**
**`4,213,624`**|`31.12.20`
`Total`
`funds`
`£`
`32,125`
`173`
`32,298`
`14,986`
`(185,096)`
`(167,784)`
`4,149,327`
`3,981,543`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 6 ``` e Pres harTtabl Tr alan em 31.12.21 Unrestrlrted fvrbd 31.12.20 Total funds Notes FIXED ASSETS Tangible assets Investments 2,858,727 1014,815 2,808,744 817,222 3,873,542 3,625,966 CURRENT ASSErs Debtors Cash at bank io 1,084 375,163 341,178 341,178 376,247 CREDITOAS Amounts falling due wlthln one year li 11.0961 120,6701 NET CURRENT ASSETS 355,577 TOTAI ASSETS LESS CURRENT UABIUTIES 4313.624 3.981,543 NET ASSEf5 4,213.624 3,981,543 FUNDS Vnrestrlcted funds 4,213,624 3,981,543 TOTAL FUNDS 4.113,624 3,981,543 The inan vr al 5tstements were approved by the Board of Trustees and authorised for issue on . and were slgned on its behalf by.. S Cardell- Trustee The notes fomi part of these financial statements Pa8e 7 ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements for the Year Ended 31 December 2021 ``` ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities: StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102) (effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements havebeenpreparedunderthehistoricalcostconvention,withtheexceptionofinvestments which are included at market value, as modified by the revaluation of certain assets. ``` ``` Thefinancialstatementshavebeenpreparedtogivea'trueandfair'viewandhavedeparted from the Charities(Accountsand Reports)Regulations2008onlyto the extentrequiredto providea 'true andfairview'.ThisdeparturehasinvolvedfollowingAccountingandReportingby Charities preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK andRepublicofIreland(FRS102)issuedon16July2014ratherthantheAccountingand Reporting by Charities:Statementof RecommendedPracticeeffectivefrom1 April2005whichhas since been withdrawn ``` ## **`Income`** ``` Allincomeis recognisedin theStatementofFinancialActivitiesoncethecharityhasentitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Donations`** ``` Donationsarerecognisedonareceivablebasis(wheretherearenoperformance related conditions),whereit is probablethatthe incomewillbe receivedand the amountcan be measured reliably. ``` ## **`Investment income`** ``` Rentalincomereceivedfrominvestmentsheldandthesub-leasingofpropertiesrented are recognised on an accruals basis, with any amounts entitlement to and not received being accrued. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthe charityto that expenditure,it is probablethat a transferof economicbenefitswill be requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have been allocated to activities on a basis consistent with the use of resources. ``` ## **`Tangible fixed assets`** ``` Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its estimated useful life. ``` |`Freehold property`|`- 2% on cost`| |---|---| |`Plant and machinery`|`- 20% on cost`| |`Fixtures and fittings`|`- 20% on cost`| ``` continued... ``` ``` Page 8 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ``` ## **`1. ACCOUNTING POLICIES - continued`** ## **`Taxation`** ``` As a registeredcharitytheTrustbenefitsfromratesreliefand is generallyexemptfromIncome Tax andCapitalGainsTax,butnotfromVAT.IrrecoverableVATis includedin thecostofthoseitems to which it relates. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbe usedin accordancewiththecharitableobjectivesat thediscretionof the trusteesin the furtheranceof the generalobjectivesof the charityand which have not be designated for other purposes. ``` ## **`Financial instruments Investments`** ``` Investments are accounted for at fair value. ``` ## **`Debtors`** ``` Shorttermdebtorsaremeasuredattransactionprice,lessanyimpairment.Loansreceivable are measuredinitiallyat fair value, net of transactioncosts and are measuredsubsequentlyat amortised cost using the effective interest method, less any impairment. ``` ## **`Creditors`** ``` Shorttermtradecreditorsare measuredat the transactionprice.Otherfinancialliabilities, including bankloans,aremeasuredinitiallyatfairvalue,netoftransactioncosts,andare measured subsequently at amortised cost using the effective interest method. ``` ## **`2. INVESTMENT INCOME`** |**`2.`**|**`INVESTMENT INCOME`**||| |---|---|---|---| |||**`31.12.21`**|`31.12.20`| |||**`£`**|`£`| ||`Other fixed asset invest - FII`|**`48,485`**|`32,125`| |**`3.`**|**`OTHER INCOME`**||| |||**`31.12.21`**|`31.12.20`| |||**`£`**|`£`| ||`Other income`|**`-`**|`173`| ``` continued... ``` ``` Page 9 ``` ``` The Presence Charitable Trust ``` ## `Notes to the Financial Statements - continued for the Year Ended 31 December 2021` ## **`4. OTHER`** |**`OTHER`**||| |---|---|---| ||**`31.12.21`**|`31.12.20`| ||**`£`**|`£`| |`Rates`|**`1,631`**|`2,800`| |`Insurance`|**`1,084`**|`1,832`| |`Light and heat`|**`2,789`**|`5,598`| |`Repairs and maintenance`|**`4,113`**|`800`| |`Telephone charges`|**`858`**|`1,049`| |`Computer costs`|**`20`**|`-`| |`Bank charges`|**`60`**|`86`| |`Sundry expenses`|**`289`**|`373`| |`Water rates`|**`103`**|`698`| |`Support costs`|**`3,050`**|`1,750`| ||**`13,997`**|`14,986`| ## **`5. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2021 nor for the year ended 31 December 2020. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31December2021norforthe year ended 31 December 2020. ``` ## **`6. STAFF COSTS`** ``` During the year the average number of employees was nil (2020: nil). ``` ## **`7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
`Other income`
**`Total`**
**`EXPENDITURE ON`**
`Other`
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**|`Unrestricted`
`fund`
`£`
`32,125`
`173`
`32,298`
`14,986`
`(185,096)`
`(167,784)`| |---|---| ``` continued... ``` ``` Page 10 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ``` ## **`7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`** |**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`As previously reported`
`Prior year adjustment`
**`As restated`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`TANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 January 2021`
`Additions`
`At 31 December 2021`
**`NET BOOK VALUE`**
`At 31 December 2021`
`At 31 December 2020`|`Freehold`
`property`
`£`
**`2,606,535`**
**`26,548`**
**`2,633,083`**
**`2,633,083`**
`2,606,535`|`Plant and`
`machinery`
`£`
**`32,880`**
**`867`**
**`33,747`**
**`33,747`**
`32,880`|`Fixtures`
`and`
`fittings`
`£`
**`169,329`**
**`22,568`**
**`191,897`**
**`191,897`**
`169,329`||`Unrestricted`
`fund`
`£`
`4,014,379`
`134,948`
`4,149,327`
`3,981,543`
`Totals`
`£`
**`2,808,744`**
**`49,983`**
**`2,858,727`**
**`2,858,727`**
`2,808,744`| |---|---|---|---|---|---| ||||||| ||||||| ||||||| ## **`8. TANGIBLE FIXED ASSETS`** ``` No depreciation is being charged on assets yet to be brought into use. ``` ``` continued... ``` ``` Page 11 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ``` ## **`9. FIXED ASSET INVESTMENTS`** |**`MARKET VALUE`**
`At 1 January 2021`
`Revaluations`
`At 31 December 2021`
**`NET BOOK VALUE`**
`At 31 December 2021`
`At 31 December 2020`
`There were no investment assets outside the UK.`
`Cost or valuation at 31 December 2021 is represented by:`|`Listed`
`investments`
`£`
**`817,172`**
**`197,593`**
**`1,014,765`**
**`1,014,765`**
`817,172`|`Unlisted`
`investments`
`£`
**`50`**
**`-`**
**`50`**
**`50`**
`50`|`Totals`
`£`
**`817,222`**
**`197,593`**| |---|---|---|---| ||||**`1,014,815`**| ||||**`1,014,815`**| ||||`817,222`| ||||| |||**`Listed`**|**`Unlisted`**|| |---|---|---|---|---| |||**`investments`**|**`investments`**|**`Totals`**| |||**`£`**|**`£`**|**`£`**| ||`Valuation in 2020`|**`817,172`**|**`50`**|**`817,222`**| ||`Cost`|**`197,593`**|**`-`**|**`197,593`**| |||**`1,014,765`**|**`50`**|**`1,014,815`**| |**`10.`**|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||| ||||**`31.12.21`**|`31.12.20`| ||||**`£`**|`£`| ||`Prepayments and accrued income`||**`-`**|`1,084`| ``` continued... ``` ``` Page 12 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2021 ``` ## **`11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** ||**`31.12.21`**|`31.12.20`| |---|---|---| ||**`£`**|`£`| |`Other creditors`|**`1,096`**|`20,670`| ## **`12. RELATED PARTY DISCLOSURES`** ## **`Charterhouse Property Group (1) LLP`** ``` Charterhouse Property Group (1) LLP is an LLP of which the Trust is a Designated Member. ``` ``` At the year end, the LLP was owed £50 by the Trust (2020: £50). ``` ## **`Stephen Cardell`** ``` StephenCardellis a trusteeand throughoutthe yearhas incurredexpenseson behalfof the charity. At the year end Mr Cardell owed the charity £1,554 (2020: the charity owed Mr Cardell £18,870). ``` ## **`13. ULTIMATE CONTROLLING PARTY`** ``` Thecharityhasbeencontrolledthroughouttheyearbythetrusteesasidentifiedonthe charity information page. ``` ## **`14. GOING CONCERN`** ``` Nomaterialuncertaintiesexistinrelationtothegoingconcernconcept.Thetrustee'sbelieve that there are suitable funds to continue activities for the next 12 months. ``` ``` Page 13 ``` ``` The Presence Charitable Trust ``` |`Detailed Statement of Financial Activities`||| |---|---|---| |`for the Year Ended 31 December 2021`||| ||`31.12.21`|`31.12.20`| ||`£`|`£`| |**`INCOME AND ENDOWMENTS`**||| |**`Investment income`**||| |`Other fixed asset invest - FII`|**`48,485`**|`32,125`| |**`Other income`**||| |`Other income`|**`-`**|`173`| |**`Total incoming resources`**|**`48,485`**|`32,298`| |**`EXPENDITURE`**||| |**`Other`**||| |`Rates`|**`1,631`**|`2,800`| |`Insurance`|**`1,084`**|`1,832`| |`Light and heat`|**`2,789`**|`5,598`| |`Repairs and maintenance`|**`4,113`**|`800`| |`Telephone charges`|**`858`**|`1,049`| |`Computer costs`|**`20`**|`-`| |`Bank charges`|**`60`**|`86`| |`Sundry expenses`|**`289`**|`373`| |`Water rates`|**`103`**|`698`| ||**`10,947`**|`13,236`| |**`Support costs`**||| |**`Governance costs`**||| |`Accountancy`|**`3,050`**|`1,750`| |`Total resources expended`|**`13,997`**|`14,986`| |**`Net income before gains and losses`**|**`34,488`**|`17,312`| |**`Realised recognised gains and losses`**||| |`Realised gains/(losses) on fixed asset`||| |`investments`|**`-`**|`44,585`| |**`Net income`**|**`34,488`**|`61,897`| ``` This page does not form part of the statutory financial statements ``` ``` Page 14 ```