Company registration number: 05741145 Charity registration number: 1122810
Thornhill Church Trust
(A company limited by share capital)
Annual Report and Financial Statements
for the Year Ended 31 March 2021
AIMS - Steve Hallett
22-24 James Street, Cardiff CF10 5EX
Thornhill Church Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
Thornhill Church Trust
Reference and Administrative Details
| Trustees | R Prosser |
|---|---|
| D McNeill | |
| S Fear | |
| J A Nickels | |
| Principal Office | Thornhill Church Centre |
| Excalibur Drive | |
| Thornhill | |
| Cardiff | |
| CF14 9GA | |
| Registered Office | Thornhill Church Centre |
| Excalibur Drive | |
| Thornhill | |
| Cardiff | |
| CF14 9GA | |
| The charity is incorporated in Wales. | |
| Company Registration Number | 05741145 |
| Charity Registration Number | 1122810 |
| Independent Examiner | AIMS - Steve Hallett |
| 22-24 James Street, Cardiff CF10 5EX |
Page 1
Thornhill Church 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 31 March 2021.
Objects of the Trust
The registered charitable objects of the Trust are:
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The advancement of the Christian faith; and, to the extent that the same do not conflict with this first object:
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To promote the benefit of the residents of North Cardiff and its surrounding area, on the basis of equality of opportunity and in accordance with the law relating to discrimination, by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education, promote good health and to provide facilities for recreational and other leisure time occupation, in the interests of social welfare, with the object of improving the conditions of life for the residents; and
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The relief of poverty.
Fulfilling the Objects
The vision of Thornhill Church is: Building a community of Jesus' disciples, and inviting the world to encounter Him.
Our mission is to worship God, and in doing that to witness to Jesus Christ in such a way that unbelievers become believers and together we grow to become fully mature servants of Christ.
The Trust is committed to enabling as many people as possible to worship at our church and to become part of the church community. We try to enable ordinary people to live out their faith as part of our community.
In pursuit of our objects Thornhill Church pursues the following policies:
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to hold church-wide services for Christian worship, fellowship and teaching, along with smaller
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(a) home groups for Bible study, fellowship and prayer;
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(b) to help meet needs in the local community; and
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to operate a centre for Christian worship and teaching, which is also used by the church for
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(c) ministry to others, and by the community for educational and leisure activities.
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To support through prayer, finance and practical action, the work of Christian missionaries and aid workers.
Review of Actions
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The overall size of the church membership has remained static during the year. There was also a slight increase in associate members (people who attend services but have not committed to
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• membership). Attendance was restricted by the COVID pandemic, which prevented people meeting for much of the year. On-line services have been provided for the whole year, and limited attendance allowed when the building was able to re-open.
Page 2
Thornhill Church Trust
Trustees' Report
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The church now employs a fulltime pastor, and his presence has benefited the work of the Trust.
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Until June 2020 the church benefited in all ministry areas from the services of part-time pastoral staff, and a significant amount of voluntary commitment all year.
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Due to restrictions placed on organizations by the COVID pandemic, we have been unable to make the premises available to church ministries and other organizations.
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The Trust has supported Christian work in other parts of South Wales through support of ministries such as Tavistock Street work with the homeless and Foodbank.
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Regarding Christian work in other parts of the world, the Trust has given support to Christian work and workers in the UK, Tanzania, and Papua New Guinea.
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We have provided information on the various ministries to allow individuals to support them in
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• prayer, by personal intervention or financially; we have done this through formal reports, news-sheets and the personal reports of a number of missionaries and representatives who have spoken at services and special meetings.
Review of Finances
The Trust was formed and registered at Companies House on 13 March 2006. It became registered as a charity with effect from 15 February 2008 and carried out its first actions on 1 April 2009. In March 2016 the Thornhill Church Cardiff (Charity number 1049255) was dissolved and all the assets were transferred to the Thornhill Church Trust.
Unrestricted income for Church activities was £266,892 and costs were £245,013, giving rise to a net surplus of £21,879.
People
The Trust employed 13 people during the year. The Trustees would like to express their sincerest thanks to all these and many volunteers for their service to God, and the church, in this capacity.
Governance
The organisation is a company limited by guarantee and a registered charity. The company was established under a Memorandum of Association, which established the objects and powers company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.00 each. The Trustees are also Directors.
In addition to the Trustees, there are also elders of Thornhill Church, which has documented its statements of faith and mission and the responsibilities of members and leaders. All of the Trustees are members of Thornhill Church.
The Trustees during the period were as follows:
| Name DA McNeill RS Prosser SA Fear |
Appointed 22 December 2014 1 April 2015 1 April 2015 |
Resigned |
|---|---|---|
| - - - |
Page 3
Thornhill Church Trust
Trustees' Report
J Nickels
15th July 2019
The church Elders meet weekly to commit the work of the church to God, to consider the issues, risks and opportunities facing the church and prayerfully to plan appropriate actions. In this ministry leaders or others as appropriate to the issue are advised by members of the church. Significant matters are brought before the church members for open discussion and agreement.
The Trustees meet as a minimum quarterly and consider regulatory, employment and financial aspects of the Trust’s operation. This includes reviewing the past and considering the future. This year the trustees met more frequently to deal with issues arising from the pandemic.
Through the above mechanisms the Trustees have considered the main risks to which the Trust was exposed and have taken appropriate action to mitigate those risks.
Responsibilities of Directors
The Directors recognise their responsibilities under the Companies Acts to prepare financial statements that give a true and fair view of the state of affairs of the company and of its income and expenditure for the financial year. In preparing the accounts the Directors are required to:
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Select suitable accounting policies and apply them consistently;
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Make sound judgements and estimates that are reasonable and prudent; and
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Prepare financial statements on the going concern basis unless it is inappropriate to presume
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� that the charity will continue in operation.
The Directors are responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on 19 July 2021 and signed on its behalf by:
......................................... R Prosser Trustee
Page 4
Thornhill Church Trust
Independent Examiner's Report to the trustees of Thornhill Church Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 6 to 14.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Thornhill Church Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Thornhill Church Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since Thornhill Church Trust's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of Thornhill Church Trust as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection 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.
...................................... Steve Hallett FCA
- 22-24 James Street, Cardiff CF10 5EX
19 July 2021
Page 5
Thornhill Church Trust
Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Voluntary income 3 Charitable activities 4 Investment income Total Income Expenditure on: Charitable activities 5 Other expenditure 6 Governance costs Total Expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted £ 208,531 58,318 43 266,892 (243,573) - (1,440) (245,013) 21,879 21,879 417,806 439,685 |
Total 2021 £ 208,531 58,318 43 266,892 (243,573) - (1,440) (245,013) 21,879 21,879 417,806 439,685 |
Total 2020 £ 138,805 183,405 196 |
|---|---|---|---|
| 322,406 | |||
| (310,902) (1,180) (750) |
|||
| (312,832) | |||
| 9,574 | |||
| 9,574 408,233 |
|||
| 417,807 |
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
Thornhill Church Trust
(Registration number: 05741145) Balance Sheet as at 31 March 2021
| Note Fixed assets Tangible assets 11 Current assets Stocks Debtors Cash at bank and in hand 12 Creditors: Amounts falling due within one year 13 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds |
2021 £ 270,503 - 1,912 167,424 169,336 (154) 169,182 439,685 439,685 439,685 |
2020 £ 294,436 539 5,551 118,443 |
|---|---|---|
| 124,533 (1,162) |
||
| 123,371 | ||
| 417,807 | ||
| 417,807 | ||
| 417,807 |
For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 19 July 2021 and signed on their behalf by:
......................................... R Prosser Trustee
The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
Thornhill Church Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Charity status
The charity is limited by share capital, incorporated in Wales.
The address of its registered office is: Thornhill Church Centre Excalibur Drive Thornhill Cardiff CF14 9GA
These financial statements were authorised for issue by the trustees on 19 July 2021.
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). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Thornhill Church 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.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Page 8
Thornhill Church Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
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 costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Fixtures and fittings 20% straight line basis Leasehold land and buildings evenly over 50 years
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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.
Page 9
Thornhill Church Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
3 Voluntary income
| Donations and legacies; Other donations Gift aid reclaimed Gift aided donations Grants, including capital grants; Government grants 4 Income from charitable activities Youth events Fees and supplies |
Unrestricted General £ 18,972 22,399 89,193 77,967 208,531 Unrestricted General £ - 58,318 58,318 |
Total 2021 £ 18,972 22,399 89,193 77,967 208,531 Total 2021 £ - 58,318 58,318 |
Total 2020 £ 19,881 24,462 90,887 3,575 |
|---|---|---|---|
| 138,805 | |||
| Total 2020 £ 720 182,685 |
|||
| 183,405 |
Page 10
Thornhill Church Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
5 Expenditure on charitable activities
| Note Direct costs Cost of goods sold Staff costs Establishment costs Repairs and maintenance Office expenses Printing, postage and stationery Subscriptions and donations Cleaning Ministry and Mission Bank charges Depreciation of tangible fixed assets |
Unrestricted General £ 3,333 180,737 8,018 540 1,974 1,464 1,138 1,190 20,034 - 25,145 243,573 |
Total 2021 £ 3,333 180,737 8,018 540 1,974 1,464 1,138 1,190 20,034 - 25,145 243,573 |
Total 2020 £ 24,787 198,953 15,386 10,755 2,747 2,703 1,314 6,243 25,428 162 22,424 |
|---|---|---|---|
| 310,902 |
Total expenditure £
In addition to the expenditure analysed above, there are also governance costs of £1,440 (2020 - £750) which relate directly to charitable activities. See note 7 for further details.
6 Other expenditure
Total for 2021 Total for 2020
----- Start of picture text -----
Unrestricted
funds Total
General funds
Note £ £
- -
1,180 1,180
----- End of picture text -----
Page 11
Thornhill Church Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
7 Analysis of governance and support costs
Governance costs
| Accountancy fees Total for 2021 Total for 2020 |
Unrestricted funds General £ 1,440 1,440 750 |
Total funds £ 1,440 |
|---|---|---|
| 1,440 | ||
| 750 |
8 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity for their duties as trustees.
Page 12
Thornhill Church Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
9 Staff costs
The aggregate payroll costs were as follows:
| Wages and salaries | 2021 £ 180,737 |
2020 £ 198,953 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
11 Tangible fixed assets
| 11 Tangible fixed assets | |||
|---|---|---|---|
| Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Land and buildings £ 302,594 - 302,594 43,120 6,052 49,172 253,422 259,474 |
Furniture and equipment £ 94,254 1,212 95,466 59,292 19,093 78,385 17,081 34,962 |
Total £ 396,848 1,212 |
| 398,060 | |||
| 102,412 25,145 |
|||
| 127,557 | |||
| 270,503 | |||
| 294,436 |
Included within the net book value of land and buildings above is £Nil (2020 - £Nil) in respect of freehold land and buildings and £253,422 (2020 - £259,474) in respect of leaseholds.
12 Cash and cash equivalents
| 12 Cash and cash equivalents | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Cash at bank | 167,424 | 118,443 |
Page 13
Thornhill Church Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
| 13 Creditors: amounts falling due within one year Other taxation and social security |
2021 £ 154 |
2020 £ 1,162 |
|---|---|---|
Page 14