Company registration number: 6136010 Charity registration number: 1120757
Top Barn Trust
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 September 2020
## **Top Barn Trust**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Strategic Report|2 to 3|
|Trustees' Report|4|
|Statement of Trustees' Responsibilities|5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7 to 8|
|Balance Sheet|9|
|Notes to the Financial Statements|10 to 16|
## **Top Barn Trust**
## **Reference and Administrative Details**
**Trustees** Mrs D M Harper D F Harper M E Harper D Robinson (resigned 11 February 2020) P J Read R M Goodman (appointed 28 April 2020) **Secretary** P R Greenwood **Principal Office** Top Barn Farmhouse Top Barn Farm Holt Heath Worcestershire WR6 6NH **Company Registration Number** 6136010 **Charity Registration Number** 1120757 **Independent examiner** Ballards LLP Chartered accountants Oakmoore Court 11c Kingswood Road Hampton Lovett Droitwich Worcestershire WR9 0QH
Page 1
## **Top Barn Trust**
## **Strategic Report for the Year Ended 30 September 2020**
The trustees, who are directors for the purposes of company law, present their strategic report for the year ended 30 September 2020, in compliance with s414C of the Companies Act 2006.
## **Achievements and performance**
This year has seen further development of the Trust, with substantial financial investments received and investments placed in saving accounts whilst a wider investment strategy is developed. A year when the aims and objectives of the Trust came to life with urgency in the support of the social enterprise projects on site and those in physical and spiritual need locally and further afield during the pandemic, with many more people having searching questions and growing in faith whilst dealing with isolation, loneliness and mental wellbeing. This has led to regular Zoom meetings of trustees taking place more frequently than physical meetings were in the past, but have also given much wider reach and connection to the offering of the Trust. It has been the busiest year of the work of the Trust to date.
We welcomed a new trustee to the board Richard Goodman, who brings a wealth of experience, knowledge and wisdom, and continued further engagement with Jon Johnson from Mountain Perspective to support the Trust with elements of management and facilitation. Steve Rayment from New Day Ministries has also provided valuable support and assistance in the development of the Trust’s Ministries. Trustees undertook a half day training and development session delivered by Kirsty McEwen of Higgs and Co. This was a great CPD session that allowed all trustees to reflect on the roles within the Trust but also opened up wider conversations about the future.
We welcomed Broadway Academy as a new project on 4 acres of woodland and a campsite, including 2 acres of open water, aptly named Island Pool Camp. This is an exciting venture for the project community on Top Barn Trust land as the academy have plans to bring 1200 school children a year from Aston in Birmingham to deliver Duke of Edinburgh camps, team building days, bushcraft, educational visits for Geography, History, Art, Maths, Science and English. The staff team have worked with Top Barn Trustees and have gained funding with the Environment Agency and Angling Society to develop access points to the lake for fishing experiences. The Environment Agency and Angling Society continue to support the development of the project. Even in the turbulent time of Covid-19 the site has been able to be used by the school for some activities getting young people out into a safe environment to learn and increase wellbeing. Planning permission has also been sought for the development of outside kitchen and classroom including composting toilets.
One of the challenges of the year has been supporting and protecting the social enterprise projects based on site to ensure the sustainability and routine for their regular participants remains in place. This is key to the ongoing engagement of many, whilst ensuring that all on site are Covid-19 safe and protecting individual bubbles. As of the end of September all projects on site with agreements or leases in place - Good Soil, Bonterre, Footsteps, Green Fingers, the Men’s Shed and Broadway Academy - are running sustainably or have been paused where groups cannot meet, with their largest overhead costs covered by the Trust with unanimous agreement of the trustees. Some rents have been reduced for those continuing to run, and others unable to use facilities have been provided with a rental holiday.
Investments in infrastructure on site have also been made this year continuing to increase the quality of the overall site with the maintenance of property and replacement of stock proof fencing, and maintenance of roadways. The Trust also engaged in a wider estate project of rebranding, and new logos of which have now been adopted.
Page 2
## **Top Barn Trust**
## **Strategic Report for the Year Ended 30 September 2020**
The Trust has many international connections in areas that the trust has worked in and visited. It was thus able to respond quickly in March 2020 to reports of people starving in villages in these areas hit with Covid-19, by providing support to trusted partners working there. Donations were sent to Uganda, Kenya, Nigeria, Burundi, Zimbabwe, South Africa and the Philippines in the form of direct aid. Money was sent in small amounts to trusted project leads and they provided an inventory as to what they purchased and provided videos and pictures of the aid being distributed.
The Trust gave a small grant towards one student who undertook a 6-month trip to Liv4change Discipleship School in Africa at the beginning of the year, a village in which the Trust have had previous involvement. They reported back the great works that were ongoing in the project and the life changing experience they had.
This year has seen growth in the Christian ministry and pastoral work and has seen an increase in the number of key individuals required to ensure that the planning, oversight and delivery of all the work is done with the integrity and passion desired for those being supported and taught.
## **Financial review**
## _**Policy on reserves**_
At this early stage in the development of the Charitable Trust it has not proved possible to develop a reserves policy. All available funds have been used to develop the objectives and activities set by the trustees except where restricted amounts have been received and directed as requested.
## _**Principal funding sources**_
During the period income was derived from general donations and from the sale of publications relevant to the aims and long-term objectives of the charity.
The strategic report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... D F Harper Trustee
Page 3
## **Top Barn Trust**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 September 2020.
## **Objectives and activities**
## _**Objects and aims**_
The objectives and aims of the charity are to advance the Christian faith set out in Article 35 and as an expression of Christian witness, love and concern to undertake all or any of the following:
1. to relieve the poor, the sick and those in conditions of need, hardship and distress and support the aged who have a charitable need;
2. to advance education and training and to provide pastoral care;
3. to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances within the object of improving their conditions of life; and
4. to establish and/or support the establishment of facilities in the interests of the alleviation of poverty by tackling economic and social exclusion amongst socially and economically disadvantaged communities through the development and delivery of employment regeneration schemes.
## _**Public benefit**_
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. The trustees consider that they have met the public benefit requirements of the Charities Act 2011 in carrying out their normal activities as outlined below.
The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity was incorporated on 5th March 2007 and constitutes a limited company, limited by guarantee, as defined by the Companies Act 1985. The charity is governed by its Memorandum and Articles of Association as amended by a Special Resolution dated 16th July 2007.
## _**Recruitment and appointment of trustees**_
New trustees are recruited and appointed at the discretion of the existing trustees.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... D F Harper Trustee
Page 4
## **Top Barn Trust**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Top Barn Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... D F Harper Trustee
Page 5
## **Top Barn Trust**
## **Independent Examiner's Report to the trustees of Top Barn Trust**
I report on the accounts of the charity for the year ended 30 September 2020 which are set out on pages 7 to 17 .
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of .
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...................................... Benjamin Powell MSci ACA Ballards LLP Oakmoore Court 11c Kingswood Road Hampton Lovett Droitwich Worcestershire WR9 0QH
17/02/2021
Date:.............................
Page 6
## **Top Barn Trust**
## **Statement of Financial Activities for the Year Ended 30 September 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
3
Investment income
4
Total Income
**Expenditure on:**
Raising funds
Charitable activities
5
Total Expenditure
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
12|**Unrestricted**
**funds**
**£**
378,037
995
9,367
388,399
(6,622)
(59,245)
(65,867)
322,532
322,532
302,006
624,538|**Restricted**
**funds**
**£**
25,100
-
-
25,100
-
(12,500)
(12,500)
12,600
12,600
510
13,110|**Total**
**2020**
**£**
403,137
995
9,367|
|---|---|---|---|
||||413,499|
||||(6,622)
(71,745)|
||||(78,367)|
||||335,132|
||||335,132
302,516|
||||637,648|
Page 7
## **Top Barn Trust**
## **Statement of Financial Activities for the Year Ended 30 September 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Donations and legacies
Investment income
4
Total Income
**Expenditure on:**
Charitable activities
5
Total Expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
12|**Unrestricted**
**funds**
**£**
1,062
9,856
10,918
(28,614)
(28,614)
(17,696)
(17,696)
319,702
302,006|**Restricted**
**funds**
**£**
1,990
-
1,990
(1,975)
(1,975)
15
15
495
510|**Total**
**2019**
**£**
3,052
9,856|
|---|---|---|---|
||||12,908|
||||(30,589)|
||||(30,589)|
||||(17,681)|
||||(17,681)
320,197|
||||302,516|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 12.
Page 8
## **Top Barn Trust**
## **(Registration number: 6136010) Balance Sheet as at 30 September 2020**
|**Note**
**Fixed assets**
Tangible assets
8
**Current assets**
Stocks
9
Debtors
10
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
11
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted funds**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
12|**2020**
**£**
300,000
150
83,241
257,867
341,258
(3,610)
337,648
637,648
13,110
624,538
637,648|**2019**
**£**
300,000
150
1,273
1,952|
|---|---|---|
|||3,375
(859)|
|||2,516|
|||302,516|
|||510
302,006|
|||302,516|
The financial statements on pages 7 to 17 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
.........................................
D F Harper Trustee
Page 9
## **Top Barn Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2020**
## **1 Charity status**
The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
Top Barn Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Income and endowments**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 10
## **Top Barn Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2020**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Investment properties**
Investment property is initially recorded at cost, and then subsequently at the end of each accounting period it is revalued to fair value through the statement of financial activities.
## **Stock**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Page 11
## **Top Barn Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2020**
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **3 Income from charitable activities**
|Marriage courses
**4**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
Other interest receivable
Income from rents|**Unrestricted**
**funds**
**General**
**£**
995
**Total**
**2020**
**£**
-
972
8,395
9,367|**Total**
**2020**
**£**
995|
|---|---|---|
|||**Total**
**2019**
**£**
22
-
9,834|
|||9,856|
Page 12
## **Top Barn Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2020**
## **5 Expenditure on charitable activities**
|**Note**
Donations
Support Costs
**Donations made to organisations:**
Fruto Del Espiritu
Bonterre
Swords Ablase
Naphtali
Unbuntu
THEMBALETHU
Awaken Africa
Hope For Africa
Fairview Academy
Erisa
Kokstad Community
The Purim Trust
House Of Bread
New Day Ministries
Hallow PCC
**Donations Made to individuals:**
N Colhurst
N Harvey
G Violi
I Hill|**Unrestricted**
**funds**
**General**
**£**
**Restricted**
**funds**
**£**
**Total**
**2020**
**£**
38,200
12,500
50,700
21,045
-
21,045
59,245
12,500
71,745
**Unrestricted Funds**
**Restricted Funds**
200
-
1,000
-
6,500
-
500
-
500
-
3,000
-
1,500
-
2,000
-
1,000
-
4,600
-
5,000
-
5,000
-
150
-
2,000
-
-
12,500
32,950
12,500
**Unrestricted Funds**
**Restricted Funds**
500
-
250
-
3,000
-
1,500
-
5,250
-|**Total**
**2019**
**£**
16,801
13,788|
|---|---|---|
|||30,589|
|||**Total**
200
1,000
6,500
500
500
3,000
1,500
2,000
1,000
4,600
5,000
5,000
150
2,000
12,500
45,450
**Total**
500
250
3,000
1,500
5,250|
Page 13
## **Top Barn Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2020**
## **6 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
The amount expenses waived by the trustees during the year totalled £Nil (2019 - £Nil).
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **8 Tangible fixed assets**
|**Cost**
At 1 October 2019
At 30 September 2020
**Depreciation**
At 30 September 2020
**Net book value**
At 30 September 2020
At 30 September 2019|**Investment**
**Property**
**£**
300,000
300,000
-
300,000
300,000|**Total**
**£**
300,000|
|---|---|---|
|||300,000
-|
|||300,000|
|||300,000|
There was no material difference between the fair value of the investment property at the year end and the cost price. As a result, no revaluation was necessary in the accounting period.
## **9 Stock**
|Stocks of literature
**10 Debtors**
Other debtors|**2020**
**£**
150
**2020**
**£**
83,241|**2019**
**£**
150|
|---|---|---|
|||**2019**
**£**
1,273|
Page 14
## **Top Barn Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2020**
## **11 Creditors: amounts falling due within one year**
|Other creditors
**12 Funds**
**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
General restricted funds
**Total funds**
**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
General restricted funds
**Total funds**|**Balance at 1**
**October 2019**
**£**
302,006
510
302,516
**Balance at 1**
**October 2018**
**£**
319,702
495
320,197|**Incoming**
**resources**
**£**
388,399
25,100
413,499
**Incoming**
**resources**
**£**
10,918
1,990
12,908|**2020**
**£**
3,610
**Resources**
**expended**
**£**
(65,867)
(12,500)
(78,367)
**Resources**
**expended**
**£**
(28,614)
(1,975)
(30,589)|**2019**
**£**
859|
|---|---|---|---|---|
|||||**Balance at**
**30**
**September**
**2020**
**£**
624,538
13,110|
|||||637,648|
|||||**Balance at**
**30**
**September**
**2019**
**£**
302,006
510|
|||||302,516|
Page 15
## **Top Barn Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2020**
## **13 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
300,000
328,148
(3,610)
624,538|**Restricted**
**funds**
**£**
-
13,110
-
13,110|**Total funds**
**£**
300,000
341,258
(3,610)
637,648|
|---|---|---|---|
**14 Analysis of net funds**
|Cash at bank and in hand
Net debt|**At 1 October**
**2019**
**£**
1,952
1,952|**Cash flow**
**£**
255,915
255,915|**At 30**
**September**
**2020**
**£**
257,867|
|---|---|---|---|
||||257,867|
## **15 Related party transactions**
There were no related party transactions in the year.
Page 16