2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1119926

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

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 2023

	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 2023

Report of the Trustees

The trustees present their report with the financial statements of the charity for the year ended
31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January
2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

TheobjectivesaretoadvancetheChristianreligionthroughtheholdingofprayermeetings,the provision
of trainingon Christianthemes,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

The developmentof WellwickHouse is now finished,with the completionof the Summer House, Stables, an
ornamentalLakeandthelayingofanewdrivewayallaccomplishedin2023.Therewillcontinueto be
minorenhancementandimprovementsmadetothefacilitybutthesearenowviewedas on-going
maintenance. The development plan has now be signed off by the Trustees and deemed complete.

A number of privateand group retreatswere held duringthe year. Work continuedduring2023 to develop
andextendtheusergroupofWellwickHousethroughthe'FriendsofWellwick'schemewhichgrewto 85
people (2022: 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 2023

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 2023 PCT was holding unrestricted reserves of £4.26 million (2022: £4.27 million).

The financialpositionof the Charitywasaffectedin 2023primarilyby 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 2023 was investment income.

Theresultsshowasurplusfortheyearof£17,487(2022:£54,852)madeupofanoperatingsurplus of
£33,422(primarilydue to increasedinvestmentincome less expenditureon Wellwick)and a decreasein the
value of the stocks and shares portfolio of NIL (2022: £25,429).

FUTURE PLANS

TheTrusteesexpecttheobjectiveoftheCharitytoremainunchangedwhichistoadvancethe Christian
religionthroughtheholdingofprayermeetings,theprovisionoftrainingonChristianthemes, holding
eventsandproducingand/ordistributingliteratureonChristianitytoenlightenothersaboutthe Christian
religion

The primaryfocusin 2023willbe to continueoperatingWellwickHouseas a retreatcentreanda national
hub for the dissemination of the Trust's teaching material and literature.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The PresenceCharitableTrust is a registeredcharityset up as an unincorporatedassociationon 6 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.

There are 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

tkn y￿ Ended 31 REFERENCE AND AOMIMISTrATIVE DEfALS Reglstered Ch• number 1119 UQ Cassi•bwy Diive Watford He￿ordShe WD17 3AE S Cirdell K M Cwdell E P•mlxoke Independent Exathw Lee Actauntlny SeThl¢o$2018 Umltad Tradlng * Lee & Co 26 Hiyh Street Rickmmw￿1h H¢rtfordr• WD31ER Bankars Santander UKplc Cistomer S•vice Boole L30 4GB I￿0¥•d by otthe b•wd al troste¢s on........ . . . and Wed ou Its behall br. S Cxddl. Tr¥slee

ine Charitable T oth ees of The Presen Indeyndent exomlnevs Teportto the tnthees ofThe Presence Charitsble Th I rewrt to the charity trustees on my examination of the accounts of The Presence Charitable Trust (the Trustl for the year ended 31 De￿rnber 2023. Responsibilities and ba515 of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charwties Act 20111'the ACVI. 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 applicable Directions given by the Charty Commisslon under Section 145{5llbl Df the Act. Independent exaMine￿S statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giwng me cause to believethat in any material re5pert: accountirig records were not kept in respert of the Trust as required bysection 130 of the Att; or the accounts do not attord with those record5; or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities Ikcounts and Reports) Regulation5 2008 other than any requirement that the accounts we a true and fair view which is not a matter considered as part of an indepen(fent exarnination. I havo no conorn5 and have come across no other matters in connettion with the examination to whlch attertion should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. John D Lee FCA Lee Accounting seNi￿S 2018 Limited Trading as Lee & Co 26 High Str￿t Rickmansworth Hertfordshire WD3 IER Page 4

The Presence Charitable Trust

Statement of Financial Activities

for the Year Ended 31 December 2023

Notes INCOME AND ENDOWMENTS FROM Investment income 2 Other income 3 Total EXPENDITURE ON Charitable activities 4 Other Donations Other 5 Total Net gains/(losses) on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	31.12.23 Unrestricted fund £ 60,659 12,650 73,309 1,573 37,814 39,387 (15,935) 17,987 4,243,047 4,261,034	31.12.22 Total funds £ 52,956 280
		53,236
		250 23,563
		23,813
		25,429
		54,852 4,213,624
		4,268,476

The notes form part of these financial statements

Page 5

Ilance Sh l De¢8rn 31.12.28 31.1122 nd Tanylble assets IA¥eStmeiits 3ml082 2,YJ2,53B 998m 1,040,244 41Mm2 8,942, CUlk4ENT ASSETS Cash at Imnk 25V12 327MI CREDtroRS Amountstsllini die witbin owye 11 i) MEf ASSETS 251072 325m4 TOTALM LESS CUPJIENT UABimES 4261m4 4W76 ASSETS 4161,034 4268A76 FUNDS Unresfrfthd tsmds 42fft,034 4•A76 TOTAL FUNDS m4 4IW76 The IInancl￿ stsknents Trne •proved by the Bo*d fjl TnNtees and avlhothd lor i98u• on and were signed on its behall by. S Cardell- Tn The notsslorn wl ol these lknllal slatsmo

The Presence Charitable Trust

Notes to the Financial Statements
for the Year Ended 31 December 2023

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
and fair view'. This departurehas involvedfollowingAccountingand Reportingby Charities preparing
their accountsin accordancewith the FinancialReportingStandardapplicablein the UK and  Republic
ofIreland(FRS102)issuedon16July2014ratherthantheAccountingandReportingby Charities:
Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn

Income

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations

Donationsare recognisedon a receivablebasis (where there are no performancerelated conditions),
where it is probable that the income will be received and the amount can 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
Fixtures and fittings- 20% on cost

continued...

Page 7

The Presence Charitable Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

1. ACCOUNTING POLICIES - continued

Taxation

As a registeredcharitythe Trustbenefitsfromratesreliefandis generallyexemptfromIncome Tax
andCapitalGainsTax,butnotfromVAT.IrrecoverableVATisincludedin 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

Shortterm tradecreditorsare measuredat the transactionprice.Other financialliabilities, including
bankloans,aremeasuredinitiallyatfairvalue,netoftransactioncosts,andare measured
subsequently at amortised cost using the effective interest method.

2. INVESTMENT INCOME

2.	INVESTMENT INCOME
		31.12.23	31.12.22
		£	£
	Other fixed asset invest - FII	60,159	52,956
	Interest received	500	-
		60,659	52,956
3.	OTHER INCOME
		31.12.23	31.12.22
		£	£
	Other income	12,650	280

continued...

Page 8

The Presence Charitable Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
		Grant
		funding of
		activities
		£
Other Donations		1,573
OTHER
	31.12.23	31.12.22
	£	£
Rates	3,418	3,815
Insurance	774	644
Light and heat	4,282	2,938
Repairs and maintenance	25,362	12,674
Telephone charges	320	363
Travelling expenses	156	-
Computer costs	-	204
Bank charges	116	67
Sundry expenses	1,046	338
Support costs	2,340	2,520
	37,814	23,563

5. OTHER

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor
for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year
ended 31 December 2022.

continued...

Page 9

The Presence Charitable Trust

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

7. STAFF COSTS

During the year the average number of employees was nil (2022: nil).

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM Investment income Other income Total EXPENDITURE ON Charitable activities Other Donations Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ 52,956 280 53,236 250 23,563 23,813 25,429 54,852 4,213,624 4,268,476

continued...

Page 10

The Presence Charitable Trust

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

9. TANGIBLE FIXED ASSETS

COST At 1 January 2023 Additions At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022	Freehold property £ 2,642,601 80,303 2,722,904 2,722,904 2,642,601	Plant and machinery £ 33,747 - 33,747 33,747 33,747	Fixtures and fittings £ 226,190 27,241 253,431 253,431 226,190	Totals £ 2,902,538 107,544
				3,010,082
				3,010,082
				2,902,538

No depreciation is being charged on assets yet to be brought into use.

10. FIXED ASSET INVESTMENTS

MARKET VALUE At 1 January 2023 Disposals Revaluations At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022	Listed investments £ 1,040,194 - (41,314) 998,880 998,880 1,040,194	Unlisted investments £ 50 (50) - - - 50	Totals £ 1,040,244 (50) (41,314)
			998,880
			998,880
			1,040,244

There were no investment assets outside the UK.

Cost or valuation at 31 December 2023 is represented by:

Valuation in 2022 Cost	Listed investments £ 1,040,194 (41,314) 998,880

continued...

Page 11

The Presence Charitable Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	31.12.23	31.12.22
	£	£
Other creditors	2,340	1,736

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 NIL by the Trust (2022: £50).

Stephen Cardell

StephenCardellis a trusteeand throughoutthe year has incurredexpenseson behalfof the charity.
At the year end Mr Cardell owed the charity £6,300 (2022: £784).

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 2023
	31.12.23	31.12.22
	£	£
INCOME AND ENDOWMENTS
Investment income
Other fixed asset invest - FII	60,159	52,956
Interest received	500	-
	60,659	52,956
Other income
Other income	12,650	280
Total incoming resources	73,309	53,236
EXPENDITURE
Charitable activities
Grants to institutions	1,573	250
Other
Rates	3,418	3,815
Insurance	774	644
Light and heat	4,282	2,938
Repairs and maintenance	25,362	12,674
Telephone charges	320	363
Travelling expenses	156	-
Computer costs	-	204
Bank charges	116	67
Sundry expenses	1,046	338
	35,474	21,043
Support costs
Governance costs
Accountancy	2,340	2,520
Total resources expended	39,387	23,813
Net income	33,922	29,423

This page does not form part of the statutory financial statements

Page 13