``` REGISTERED CHARITY NUMBER: 1119926 ``` ``` Report of the Trustees and ``` ``` Unaudited Financial Statements for the Year Ended 31 December 2022 ``` ``` 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 2022 ``` ||`Page`| |---|---| |`Report of the Trustees`|`1 to 3`| |`Independent Examiner's Report`|`4`| |`Statement of Financial Activities`|`5`| |`Balance Sheet`|`6`| |`Notes to the Financial Statements`|`7 to 12`| |`Detailed Statement of Financial Activities`|`13`| ``` The Presence Charitable Trust ``` ``` for the Year Ended 31 December 2022 ``` ## `Report of the Trustees` ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended 31December2022.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. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ``` WhilstthereissomeresidualworktodoonthedevelopmentofWellwickHouse,primarilywithin the 15-acregroundsoftheproperty,theprimaryfocusduring2022wasusingthepropertyasa Christian Retreat Centre. ``` ``` A number of privateand group retreatswere held during the year.Work continuedduring 2022 to develop andxtendtheusergroupofWellwickHousethroughthe'FriendsofWellwick'scheme.During2022 the number of individuals benefitting in this way through the Charity's work expanded from 37 to 51. ``` ``` The Charity continued to developed materials and intellectual property which support this network. ``` ``` Page 1 ``` ``` The Presence Charitable Trust ``` ``` for the Year Ended 31 December 2022 ``` ## `Report of the Trustees` ## **`FINANCIAL REVIEW`** ``` The Statement of Financial Activities for the year is set out on page 6 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 2022 PCT was holding unrestricted reserves of £4.27 million (2021: £4.21 million). ``` ``` The financialpositionof the Charitywasaffectedin 2022primarilyby 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 2022 was investment income. ``` ``` Theresultsshowasurplusfortheyearof£54,852(2021:£232,081)madeupofanoperatingsurplus of £29,423(primarilyduetoincreasedinvestmentincomelessexpenditureonWellwick)andanincrease in the value of the stocks and shares portfolio of £25,429 (2021: £197,593). ``` ## **`FUTURE PLANS`** ``` TheTrusteesexpecttheobjectiveoftheCharitytoremainunchangedwhichistoadvancethe Christian religionthroughtheholdingofprayermeetings,theprovisionoftrainingonChristianthemes, holding eventsandproducingand/ordistributingliteratureonChristianitytoenlightenothersaboutthe Christian religion ``` ``` Theprimaryfocusin 2023willbe 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 2 ``` The Presen harilable T the Trustees hgy REFERENCE AND ADMINISTrATIVE DETAIS Registered Charity number 1119926 Prindpal address 50 Cassiobury Drivo Wathird Ilertfortshire WD17 3AE S Cardell Mrs K M Cardell Ms E Pembroke Independent Examiner Lee Accounling Service$ 2018 Umlted Trathng as Lee & Co 26 High Street Rickmansworth Hertfordshire WD3 IER Bankets tsnder UK pl¢ Custsmer Service Centre Bootle Metseyside L30 4Ga Approved by order of the bo￿& of trustoes w.........-...........-...........-........ and sgned on ils behall br. S Cardell. Trustee Paye 3 Re Tru Pre nc Independent examinevs rewjrtto the trustees ofThe Presence Charitsble Trust I report to the charity trustees on my examination of the accounts of The Presence Charitsble Trust (the Trust) forthe year ended 310ecember 2022. Responsibilitie5 and basis of report the chartty trustees of the Trust you are responsible for the preparation of the accounts in accordan with the requirements of the Charitie5 Art 2011 l*he Att'l. I report in respert of my examination Df the Trust's accounts carried out under Section 145 of the Act and In carrying out my examination I have followed all applicable Directions ￿Ven by the Charity Commission under Sertion 1451511bl of the Act. IndePend￿t examiner's statÈment I have completed my examination. I confirm that no material matters have come to my attent￿on in connection with the examination giving me cause to believe that in any material respect: aC￿unting records were not kept in respect of the Trust as required by Section 130 of the Act: or the accounts do not accord with those record5" or the accounts do not comply w¢ch the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and Pdlr view which ￿ not a matter considered as part of an independent examination. I have no concerns and have come acro￿ no other matters in ¢onnection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. John D Lee FCA Lee Accounting Services 2018 Limited Trading as Lee & Co 26 High Street Rickmansworth HertFordshire WD3 IER Date:. Page 4 ``` The Presence Charitable Trust ``` ## `Statement of Financial Activities` ## `for the Year Ended 31 December 2022` |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
`2`
`Other income`
`3`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`4`
`Other Donations`
`Other`
`5`
**`Total`**
`Net gains on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|**`31.12.22`**
**`Unrestricted`**
**`fund`**
**`£`**
**`52,956`**
**`280`**
**`53,236`**
**`250`**
**`23,563`**
**`23,813`**
**`25,429`**
**`54,852`**
**`4,213,624`**
**`4,268,476`**|`31.12.21`
`Total`
`funds`
`£`
`48,485`
`-`| |---|---|---| |||`48,485`| |||`-`
`13,997`| |||`13,997`| |||`197,593`| |||`232,081`
`3,981,543`| |||`4,213,624`| ``` The notes form part of these financial statements ``` ``` Page 5 ``` ¢e Clwtlablo Trust 31.12.22 Unieslricted fund 31.12.21 Total funds Note FIXED ASSETS Tangible Assets Invostments 2,901538 2.W727 1,IMO,244 1,014815 1912,7V2 3,873,542 cURA￿T￿ETs Cash at bank 327WO 341,178 CREDITOKS Amoun1$ faHlng due withtn oneyvdr 11 11.786) NET CURRENT AWETS 325,W 340,082 TOTAL AWETS LESS CURRENT UABIUTIES 4268A76 4218,624 ASSETS 4268A76 4211624 FUNDS UnreslrKled lunds 4,268,476 4,213,624 TOTAL FUNIL% 4268,476 4,213,624 The Ilnancial statements were approved by th? Board of Trustees and aVthOr￿0d for Issuo rjn .. an& were signed on its behall by. S Cardell- Trn5tee Thè notss form part ol thoso fffj*ci* statements ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements for the Year Ended 31 December 2022 ``` ## **`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. ``` ``` Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a commitment but not accrued as expenditure. ``` ## **`Tangible fixed assets`** ``` Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its estimated useful life. ``` |`Freehold property`|`- 2% on cost`| |---|---| |`Plant and machinery`|`- 20% on cost`| ``` continued... ``` ``` Page 7 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2022 ``` ## **`1. ACCOUNTING POLICIES - continued`** ## **`Tangible fixed assets`** ``` Fixtures and fittings- 20% on cost ``` ## **`Taxation`** ``` As a registeredcharitytheTrustbenefitsfromratesreliefand is generallyexemptfromIncome Tax andCapitalGainsTax,butnotfromVAT.IrrecoverableVATis includedin thecostofthoseitems to which it relates. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbe usedin accordancewiththecharitableobjectivesat thediscretionof the trusteesinthefurtheranceofthegeneralobjectivesofthecharityandwhichhavenot 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`**||| |---|---|---|---| |||**`31.12.22`**|`31.12.21`| |||**`£`**|`£`| ||`Other fixed asset invest - FII`|**`52,956`**|`48,485`| |**`3.`**|**`OTHER INCOME`**||| |||**`31.12.22`**|`31.12.21`| |||**`£`**|`£`| ||`Other income`|**`280`**|`-`| ``` continued... ``` ``` Page 8 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2022 ``` ## **`4. CHARITABLE ACTIVITIES COSTS`** |**`4.`**|**`CHARITABLE ACTIVITIES COSTS`**||| |---|---|---|---| ||||`Grant`| ||||`funding of`| ||||`activities`| ||||`£`| ||`Other Donations`||**`250`**| |**`5.`**|**`OTHER`**||| |||**`31.12.22`**|`31.12.21`| |||**`£`**|`£`| ||`Rates`|**`3,815`**|`1,631`| ||`Insurance`|**`644`**|`1,084`| ||`Light and heat`|**`2,938`**|`2,789`| ||`Repairs and maintenance`|**`12,674`**|`4,113`| ||`Telephone charges`|**`363`**|`858`| ||`Computer costs`|**`204`**|`20`| ||`Bank charges`|**`67`**|`60`| ||`Sundry expenses`|**`338`**|`289`| ||`Water rates`|**`-`**|`103`| ||`Support costs`|**`2,520`**|`3,050`| |||**`23,563`**|`13,997`| ## **`6. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2022 nor for the year ended 31 December 2021. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31December2022norforthe year ended 31 December 2021. ``` ``` continued... ``` ``` Page 9 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2022 ``` ## **`7. STAFF COSTS`** ``` During the year the average number of employees was nil (2021: nil). ``` ## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
**`EXPENDITURE ON`**
`Other`
`Net gains on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**
**`9.`**
**`TANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 January 2022`
`Additions`
`At 31 December 2022`
**`NET BOOK VALUE`**
`At 31 December 2022`
`At 31 December 2021`|`Freehold`
`property`
`£`
**`2,633,083`**
**`9,518`**
**`2,642,601`**
**`2,642,601`**
`2,633,083`|`Plant and`
`machinery`
`£`
**`33,747`**
**`-`**
**`33,747`**
**`33,747`**
`33,747`|`Fixtures`
`and`
`fittings`
`£`
**`191,897`**
**`34,293`**
**`226,190`**
**`226,190`**
`191,897`||`Unrestricted`
`fund`
`£`
`48,485`
`13,997`
`197,593`
`232,081`
`3,981,543`
`4,213,624`
`Totals`
`£`
**`2,858,727`**
**`43,811`**
**`2,902,538`**
**`2,902,538`**
`2,858,727`| |---|---|---|---|---|---| ||||||| ||||||| ||||||| ``` No depreciation is being charged on assets yet to be brought into use. ``` ``` continued... ``` ``` Page 10 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2022 ``` ## **`10. FIXED ASSET INVESTMENTS`** |**`MARKET VALUE`**
`At 1 January 2022`
`Revaluations`
`At 31 December 2022`
**`NET BOOK VALUE`**
`At 31 December 2022`
`At 31 December 2021`|`Listed`
`investments`
`£`
**`1,014,765`**
**`25,429`**
**`1,040,194`**
**`1,040,194`**
`1,014,765`|`Unlisted`
`investments`
`£`
**`50`**
**`-`**
**`50`**
**`50`**
`50`|`Totals`
`£`
**`1,014,815`**
**`25,429`**| |---|---|---|---| ||||**`1,040,244`**| ||||**`1,040,244`**| ||||`1,014,815`| ``` There were no investment assets outside the UK. ``` ``` Cost or valuation at 31 December 2022 is represented by: ``` |`Valuation in 2021`
`Cost`
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`|**`Listed`**
**`investments`**
**`£`**
**`1,014,765`**
**`25,429`**
**`1,040,194`**|**`Unlisted`**
**`investments`**
**`£`**
**`50`**
**`-`**
**`50`**
**`31.12.22`**
**`£`**
**`1,736`**|**`Totals`**
**`£`**
**`1,014,815`**
**`25,429`**| |---|---|---|---| ||||**`1,040,244`**| ||||`31.12.21`
`£`
`1,096`| ## **`11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** ## **`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 (2021: £50). ``` ## **`Stephen Cardell`** ``` StephenCardellis a trusteeand throughoutthe yearhas incurredexpenseson behalfof the charity. At the year end Mr Cardell owed the charity £734 (2021: £1,554). ``` ``` continued... ``` ``` Page 11 ``` ``` The Presence Charitable Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 December 2022 ``` ## **`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 12 ``` ``` The Presence Charitable Trust ``` ``` Detailed Statement of Financial Activities for the Year Ended 31 December 2022 ``` |`Detailed Statement of Financial Activities`
`for the Year Ended 31 December 2022`||| |---|---|---| ||`31.12.22`|`31.12.21`| ||`£`|`£`| |**`INCOME AND ENDOWMENTS`**||| |**`Investment income`**||| |`Other fixed asset invest - FII`|**`52,956`**|`48,485`| |**`Other income`**||| |`Other income`|**`280`**|`-`| |**`Total incoming resources`**|**`53,236`**|`48,485`| |**`EXPENDITURE`**||| |**`Charitable activities`**||| |`Grants to institutions`|**`250`**|`-`| |**`Other`**||| |`Rates`|**`3,815`**|`1,631`| |`Insurance`|**`644`**|`1,084`| |`Light and heat`|**`2,938`**|`2,789`| |`Repairs and maintenance`|**`12,674`**|`4,113`| |`Telephone charges`|**`363`**|`858`| |`Computer costs`|**`204`**|`20`| |`Bank charges`|**`67`**|`60`| |`Sundry expenses`|**`338`**|`289`| |`Water rates`|**`-`**|`103`| ||**`21,043`**|`10,947`| |**`Support costs`**||| |**`Governance costs`**||| |`Accountancy`|**`2,520`**|`3,050`| |`Total resources expended`|**`23,813`**|`13,997`| |**`Net income`**|**`29,423`**|`34,488`| ``` This page does not form part of the statutory financial statements ``` ``` Page 13 ```