Company registration number. 6136010 Charity registration number. 1120757 Top Bam Trust (A (x)mpany limited by guarantee) Annual Report and Financial Ststements for the Year Ended 30 September 2024
Top Bam Trust Contents Reference and Administrative Details Strategic Report 2to4 Trustees, Report ststement of Trustees, Responsibilllies Independent Examinerfs Report Statement of Financial Activities 8t09 Balance Sheet 10 Notes to the Financial Statements 11 to16
Top Barn Trust Reference and Admlnlstratlvo Detalls Trustees M E Harper A Dlckerson J F Harper MMPrior Secretary A Dickerson Principal Office Top Bam Famihouse Top Bam Fami H(At Heath Worcestershire WR6 6NH Company Registration Number 6136010 Charity Registration Number 1120757 Independent examlner Ballards LLP Chartered accountants Oakmoore Court 11C Kingswood Road Hampton Lovett Droitwich Worcestershire WR9 1)QH Page 1
Top Bam Trust Strateglc Report for the Year Ended 30 September 2024 The Irustees, who are directors for the purposes of company law. present their stral8gic report for the year ended 30 September 2024. in compliance with s414C of the Companies Act 2006. Achlevements and perlomiance At the AGM in February 2024. all Trustees sto(yJ to be relect8d for a further 12 months, and Mike HaTper was voted in as Chair of the Trust. John Harper as Wice Chair. and Andrew Dickerson was elected as Secretary. The key focus this year has been to continue to budd on the outward facing explanation of all that is encompassed by Top Bam Trust. and the sustainability of the work continuing on the 40 acres of land. This has transpired by the continuing joumey with all of the projects to focus of growth arKI sustainability. This has seen the growth and development of each of the 5 projects on site. This has induded projects applying for planning permission for new faalttses to be erected, development of new initiatives on the areas of land, working with the projects to offer longer term leases to ensure sustainabilty for increased investrnents and an increase in fvndraising for project development. The growth and investment on each of the project sites is driven by growth in numbers of seNice users, that are increasing both by driving need but also the unique opportunities that these projects offer to service users, their families and development of the need in the education and care systems through local authorities. The reputstion of all projects on site is increasing and as reported last year, the investment of building the Top Bam Trust website has had an impact on this reputation, and leads for projects are increasing from the website. Page 2
Top Barn Trust Strateg1¢ Report for th• Year Ended 30 September 2024 The Ministry has continued but has and is evolving in its own identity. This has come through some changes and development this year as the place that the ministry group meet in is coming to an end, and this has created opportunity for the ministry to look at its identity and the activity is evolving. This has been most noted in that there are less large events and the focus of growth has developed to promoting the growih of srnaller group meetings in people's homes. There are regular groups that meet weekly at Top Bam and a core group that oversee activities that have developed and are tsking responsibility for activty. Since the stepping dovm of David and Di Harper at the AGM in 2023. the ministy has developed a greater autonomy. wtih their focus on the heart of the ministry development. Overseas work - Top Bam Trust have continued to support and monitor the donats'ons to projects overseas. which has been significant in the pump priming for other investrnents into the areas where Top Bam trust have supported. For example. in Nkoyoyo. whare thousands of displaced people from cities had been displaced from their homes in the slums. for building development in the Gities, had no electricity and limited water supply. The project that Top Bam Trust supported in the area developed their ability to focus on subsistence farniing and building a store house to keep produce in. The linking with Foundations for Farming. based in Zimbabwe. provided training for community leaders. This has been so transfomiational in Ihe area that Ihe community are now producing their own food and have reserves to sell therefore bringing in additional revenue. The grovAh and transformation have attracted other investors and local govemment to install utilities in the area. Other areas such as the great lake refugee camps. that money vffis donated through the trust last year for medical cards. have also received Foundations for famiing training and are producing their own fol. The methodology of foundations for famiing Is based on each house having a small area of land that they can grow enough food on to feed a family. This has been successful. which has incr8ased the health of the population, based on this the local authority have given rnor8 land for food production around the camp. David and Di Harper visited these projects in this financial period and brought back stories and witnessed the evldenL of change and developmenl. As notsble in this set of accounts it represents that there have been less donations given this year. Based on the growth that has taken place, and following David and Di's visrt, there is recognition that the wotk has been done. and il was important to ensure that the local communities develop the projects in a sustainable manner. Financial review Policy on reserves The purpose of the Resefve Policy for Top Bam Trust is to ensure the stabilty of the programs and ongoing operations of the charity. The Reserve is intended to prowde an intemal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses for example maintenance or an unanticipated reduction in fijnding. The Reserves are not intended to replace a permanent loss of funds or eliminate an ongoing def1t in funds. It is the intention of Top Bam Trust for Reserves if used to be replenished within a reasonably short period of time. The Reserve Po]icy will be implemented in concert with the other governance and f nancial policies and is intended to supwrt the goals and strategies contained in these related pcAicies. At this time contracts with suppliers are limited at this time to £108 per month or £1296 per year an all can be temiinated within that period. With that in mind the Trustees have decided a 6-month reserve an additional £30,000 for potential 8mergency site maintenance should be a reasonable sum. This equates to £50.000 (rounded up from £48,000) which will be deposited in a separate reserve account. Prlnclpal ftindlng sources During the period income was dersved from general donations and frorn the sale of publications relevant to the aims and lontem objectives of the charity. Page 3
Top Barn Trust Strateglc Report for the Year Ended 30 September 2024 The strategic report was approved by the trustees of the chaiity on .. behalf by.. and signed on its M E Harper Trustee Page 4
Top Barn Trust Trustees. Roport The trustees, who are directors for the purposes of company law. present the annual report together wrth th8 financial statements of the charitable company for the yeaf ended 30 September 2024. Objectlves and activitie$ Objects and aims The objectives and aims of the charlty are to advance the Christian faith set out in Article 35 and as an expression of Christian witness. love and concem to undertake all or any of the fdlowing.. 1. to relieve the poor. the sick and those in (x)ndttions of need. hardship and distress and support the aged who have a Gharitable need: 2. to advance education and training and to provide pastoral care: 3. to provide or assist in the proviston of faciltties 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 disabilty, financaal hardship or social CircumstareS wiihin the object of improving their conditions of life-, and 4. to establish andlor support the estsblishment of facilities in the interests of the alleviation of pov8riy by tackling economic and social exdusion amongst socially and economically disadvantaged communities through the development and delivery of employment regenerats'on schemes. Public b•n•llt The charity trustees have complied with their duty to have due regard to the guidance on publ benefit published by the Charity Commission in exercising Iheir powers or duties. The trustees consider that they have met the public benefst 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 wblished 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, limtted by guarantee, as defined by the Companies Act 1985. The charity is govemed by its Memorandum and Artides of Association as amended by 8 Special Resolution dated 16th July 2007. Recruitment and appolntment of trustees New trustees are recruited and appointed at the discretion of the existing tNstees. The annual report was approved by the trustees of the chartty on .... .. behalf by: and signed on ts M E Harper Trust88 Page 5
Top Bam Trust Statement of Trustees, Responslbllftles The trustees (who are also the directors of Top Bam 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 stale of affairs of the charitable company and of its incoming resources and application of sOurces, induding its income arKI expenditure. for that period. In preparing these financial statements, the trustees are required to: select suitable accOUntir policies and apFty them consistently. observe the methods and principles in the Charities SORP: make judgements and eslimates 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: arKI prepare the financial statements on the going concem basis unle&8 it is inappropriate to presume that the charitable cornpany will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable Companls transactions and disclose with reasonable accuracy at any time th8 financial position of the tharitable 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 cornp8ny and hence for taking reasonable steps for the prevenbon and detection of fraud and other irregularities. Approved by the trustees of the tharity on .. . and signed on its behalf by. LiLL M E Harper Trustee Page 6
Top Barn Trust Independent Examlnerfs Report to th• trusts•s of Top Barn Trust I report on the accounts of the charity for the year ended 30 September 2024 which are set out on pages 8 to 16. Re5pectlve responslbSlttl•s of trustees and examlner The trustees {who are also the directors of the company for th8 purposes of company law) are responsible for the pparation 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. Hawng satisfied myself that the charity is rK)t subject to audit under company law and is eligible for independent examination. it is my responsibility to: examine the accourlts under section 145 of the 2011 Act; to follow the procedures laid down in the general Directions gtven by the Charity Commission under section 145(5)(b} of Ihe 2011 Act" and to state whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in ardance with the general Directions given by the Charity Commission. An examination indudes a review of the accounting records kept by the charity and a comparison of the accounts presented with Ihose records. It also indudes consideration of any unusual items or disdosures in the accounts, and seeking explanations from you as tnjstees conceming 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 rue and fair view, and the report is limited to those matters set out in the statement below. Independent examlnerfs slatement In connection with my examination, no matter has come to my 8ttention". (1) which gives me reasonable cause lo believe that In any material respect the requirements: to keep accounting records in accordance wlth section 386 of the Companies Act 2006: and to prepare accounts which accord vrith the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and yth 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. attenlion should be drawn in order to enable a proper understanding of the accounts to be reached. Benjamin Powell Msci ACA Ballards LLP Oakmoore Court 11 C Kingswoo(l Road Hampton Lovett Droitwich Wor¢estershire WR9 OQH 6 March 2025 Page 7
Top Barn Trust Statement of Flnanclal Actlvltles for the Year Ended 30 September 2024 Ilncludlng Incom• and Expenditure Account and Statement of Total Recognlsed Galns and Losses) Unrestrlthd funds Restrl¢ted funds Total 2024 Note Income and Endowments from: Donations and legacies Investment income 1,345 27,779 25.545 26,890 27,779 Total Income 29,124 25.545 54,669 Expenditure on: Charitable activities Support costs (13,700) (4.606) {25.690} (39,390) (4.606 (43.996) Totsl Expenditure {18,306) 25,690 Net incL>mel(expenditure) Transfers behveen ftjnds 10.818 285 (145) 285 10,673 Net movement in funds 10.533 140 10,673 Reconclllatlon of funds Total funds brought forward 440,424 360 440,784 Total funds carried forward 10 450,957 500 451,457 Page 8
Top Barn Trust ststemont of Flnanclal Actlvltles for the Year Ended 30 September 2024 (Includlng Income and Exp•ndlturn Account and Ststoment of Total Recognlsed Galns and Losses> Unre8trlcted Restricted funds funds Total 2023 Not• Income and Endowments from: Donations and legacies Inveslment income 4.425 30,268 63.462 67,887 30,268 Total InCrne 34,693 63.462 98.155 Expenditure on: Charitable activities Support costs (42,854) (5.560 (63,102) (105.956) (5.560 Total ExpendFture Net (expenditure)lincome Transfers between funds (48,414) 63,102 (111,516 (13,721) 12.5(K) 360 12.500 (13.361) Net movement in fvnds (1.221) (12.140) (13.361) Reconclllatlon of funds Totsl funds brought forward 441.645 12,500 454.145 Total funds carrled forward 10 440,424 360 440,784 All of the charity's activities derive from continuing operations during the above hvo periods. The funds br8akdown for 2023 is shown in note 10. Page 9
Top Barn Trust (Reglstratlon numb•r: 6136010) Balance Sheet as at 30 Sèptember 2024 2024 2023 Note Flxed assets Tangible assets 300.000 300,000 Current assets Debtors Cash at bank and in hand 5,370 146.758 5,661 135,983 152.128 141,644 Creditor5: Amounts falllng due wtthin one year 671 860 Net current assets 151.457 140,784 Net assets 451.457 440.784 Funds of the charlty: Restrict•d funds 360 Unrestrlctod Income funds Unrestricted Funds 450,957 440,424 Total fund8 10 451,457 440,784 For the financial year ending 30 September 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities.. The members have not required the charity to oblain an audit of Tts accounts for the year in question in accordance with section 476: and The directors acknowledge their responsibilttres for MplyIng with the requirements of the Act with respect to accounting records arKI the preparation of accounts. These accounts have been prepared in accordance wilh the provisions applicable to companies subject to the small companies regime. The ncial ststements on pages 8 to 16 were approved by the trustees, and authorised for issue on ? . and signed on their behalf by. M E Harper Trustee Page 10
Top Barn Trust Notes to the Flnanclal Statoments for th• Year Ended 30 September 2024 1 Charlty status The chaiity 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 acrdanCe with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to char5ties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicAble in the UK and Republic of Ireland (FRS 102) and the Companies A¢t 2006. Basls of preparation Top Bam Trust meels the definition of a public benefit entity under FRS 102. Assets and Ilabilities are initially recognised at historical cost or transaction value unless otheTrvise stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about the charitys ability to continue as a going concern nor any significant areas of uncertainty that affect the rryIng value of assets held by the charity. Exemption from preparing a cash flow statement The charity opted to earty 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 Ihe income. it is probable Ihat the income %*ill be received and the amount of the income receivable can be measured reliably. Page 11
Top Barn Trust Notes to the Flnanclal Statements for the Year Ended 30 September 2024 Expenditure All expenditure Is recognised once there is a legal or constructive obligatlon to that expendlture, 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. whe costs cannot be directly attributed lo parbcular 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 Ihe portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Grants offered subject to conditÉons whith have not been met at the year end date are noted as a commitment but not accrued as expenditure. Charitable activities CharItae expenditure comprises those costs incurred by the charity in the deltvery of its activities and services for its beneficiaries. It indudes both costs that can be allo(ated directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include Céntral functions and have been allocated to actsvity cost categories on 8 basis consistent with the use of resources, for example, allocating propety costs by floor areas, or per capita, stsff costs by the time spent and other costs by their usage. Taxatlon 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 lax purposes. Accordingly, the charity is potentially exempt from taxalion 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 a applied exdusively to charitsble purposes. Tangible fixed assets Individual fixed assets are inibalty recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairnient losses. Investment properties Investment property is inalty recorded at cost. and then subsequenty at the erKI of each accounting period it is revalued to fair value through the statement of finanaal activities. Stock Stocks ar8 valued at the I*r of cost and net reaisable value, after making due allowance for obsolete and slow movlro items. Fund structure Unfestricted income funds are general funds that are available for use at the trustees's dlscr8tion 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. Page 12
Top Barn Trust Notes to th¢ Flnanclal Statements for the Year Ended 30 Septembor 2024 3 Investment income Total 2024 Total 2023 Interest receivable and similar in¢oTr*" other interest receivable Incorne from rents 160 27,619 1.127 29.141 27,779 30.268 4 Exponditure on charitsble actsvtties Unrestrfcled funds Restricted funds Total 2024 Total 2023 General Donations Support Costs 200 13,500 25.6) 25,890 13,500 39,390 86.938 19,018 13,700 25,690 105,956 Donatlons made to organlsatlons: Burundi Unrestrfcted Funds Restrlcted Funds 3.160 Total 3,160 200 Fruto Del Espiritu 200 200 3.160 3,360 Donations Made to individuals: Unrestricted Funds Restricted Funds Total M & T Rankin 2.500 20.030 22,530 A&RBucan 20,030 22,530 Page 13
Top Barn Trust Notes to the Flnanclal Statements for tho Year Ended 30 September 2024 S Trustees r•muneratlon and •xpense$ No trustees. nor any persons connected with them, have received any remuneration from the charity during the year. The amount of expenses waived by the trustees during the yEar totalled £Nil (2023 - £Nil). 6 Taxatlon The charity is a registered tharity and is therefore exempt from L3xation. 7 Tangible fixed assets Investment Property Total Cost At 1 Octob8r 2023 300,000 300,000 At 30 September 2024 300,000 300.000 Depreciatlon At 30 September 2024 Net book valuè At 30 September 2024 At 30 September 2023 300,000 300,000 300,000 300,000 There was no material difference belween the fair value of the investsment property at the year end and the cost price. As a resulL no revaluation was necessary in the accounting period. 8 Debtors 2024 2023 Other debtors 5.370 5,661 9 Creditors: amounts falling due withln one year 2024 2023 Other creditors 671 Page 14
Top Barn Trust Notes to the Flnanclal Statements for tho Year Ended 30 S•ptemb•r 2024 12 Analysls of not funds At30 September 2024 At 1 October 2023 Cash flow Cash at bank and in hand 135.983 10.775 146.758 Net debt 135,983 10,775 146,758 13 Related party transactions There were no related party transactÈons in the year. Page 16