Company registration number.. 05741145 Charty registration number.. 1122810 Thornhill Church Trust (A company limited by guarantee) Annual Report and Finanaal Statements for the Year Ended 31 March 2025 AIMS Accountants C12 12 Cathedral Road Cardiff CF119LJ
Thornhill Church Trust Contents Reference and Administrative Details Trustees, Report 2toS Independent Examinerfs Report Statement of Financial Activities Balance Sheet Noles to the Financial Statements 9t015
Thornhill Church Trust Reference and Administrative Details Chaimian D McNeill Trustees R Prosser, Treasurer M Hopkins J Park S Parsons Stephen Burton Rhys Evans 1122810 Charity Registration Number Company Registration Number 05741145 The charty is incorporated in Wales. Thornhill Church Excalibur Drive Thornhill Cardrff CF14 9GA Registered Office Independent Examiner AIMS Accountants C12 12 Cathedral Road Cardiff CF119LJ Page 1
Thornhill Church Trust Trustees. Report The trustees present their annual report. Objects of the Trust The registered charitable objects of the Trust are.. 1. The advancement of the Christian faith., and, to the extent that the same do not conflict with this first object.. 2. To promote the benefit of the residents of North Cardiff and rts 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 3. 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.. (al to hold church-wide services for Christian worship, fellowship and teaching, along with smaller home groups for Bible study, fellowship and prayer., (bl to help meet needs in the local community., and (c) to operate a centre for Christian worship and teaching, which is also used by the church for ministry to others, and by the community for educational and leisure activities. 2. To support Ihrough prayer, finance and practical action, the work of Christian missionaries and aid workers. Review of the Year The overall size of the church membership has increased during the year. There are now around 125 adults and 50 kidsrteens, representing many nationalities. Church seNi¢es have been held weekly in our building and on-line SeiceS have continued in order to reach people who for various reasons are unable to attend physical services. We have continued to have age-appropriate activities for younger people, with Tots Time (up to age 4), Junior Church (school years reception to 5) and No Limits (school years 6 - 9). We now have 11 small groups that meet in homes, the church or even one in a local pub. Most are in English but one is in the Russian language, mainly attended by Russians and Ukrainians. We have held the Alpha Course for those seeking to know more about Christianity, and followed that up with the Bible Course. Page 2
Thornhill Church Trust Trustees, Report We have been glad to Work with our local primary school to assist in assemblies. The church employs a fulltime pastor. and we have had a pastoral assistant throughout the year. Their presence has significantly benefrted the work across the Trust. We continue the process to recruit a new part time youthlchildren's worker and we are disappointed that we were unable to find a suitable Candidate last year. We hold meetings during the week to help particular groups in the communily, Meeting Point for seniors, 1 st Time Mums for first time mums: Tots n Toys for the parents and carers of 0 - 4 year olds and SNY for high school age kids. Our Lighthouse Nursery has been open again through the year to serve pre-school children and their parents in the Thomhill area by providing the best environment to develop the whole child. Our Cariad Café continues to serve the general public three days per week. We have continued to hire out room space and this has been used for local community causes as diverse as birthday parties, the "Rock Project" and the "Forget-me-not Choirf. We are pleased to continue to partner with Wales Korean Church, which holds meeting5 every Sunday afternoon in our building. The Trust has supported Christian Work in other parts of South Wales through support of ministries such as TAVS Tavistock Street that works wth the homeless, a Prison Oulreach Team that visits Cardrff Prison monthly, and a Street Evangelism Team that shares the gospel in north Cardiff. Additionally, space has been provided to run a foodbank for local people. We have also been working more closely with Mercy Church in Adamsdown, Cardiff, to assist the new work there. Along with three other churches we are supporting Chnstians Against Poverty by providing financial support for a staff member working wrth dients in north Cardiff. Regarding Christian work in other parts of the wodd, the Trust has given support to Christian work and workers in the UK. Tanzania, Papua New Guinea, Uganda and Ukraine. We have provided information on the various ministries to allow individuals to support them in prayer, by personal intervention or financially,. we have done this through fomial reports, news-sheets and the personal reports of a number of missionaries and representatives who have spoken at seNices and special meetings. The Trustees have considered the activities of the Trust during the year and are content that they are for the benefit of the public. Review of Finances The Trust was formed and registered at Companies House on 13 March 2006. It became registered as a charity Wlth effect from 15 February 2008 and carried out rts first actions on 1 April 2009. In March 2016 the Thornhill Church Cardrff (Charity number 1049255) was dissolved and all the assets were transferred to the Thomhill Church Trust. Unrestncted income for the year was £324,931 and costs were £309,499. giving rise to a net surplus of £15,432 (prior year £7,502). Within that we note a drop of £9,437 in voluntary donations despite an increase in members, and attribute this to the continued difficult economic squeeze in the UK, and hope that this will ease in future years. Page 3
Thornhill Church Trust Trustees, Report The Trustees have considered the amount of reserves in view of currenl circumstances, extant guidance and with a view lo future changes in accounting regulations. The Unrestrided Reserves total £509,591. After adjusting for fixed assets this amounts to £272,680. This level is higher than anticipated a5 we have failed to recruit a youthlchildren's worker. Had we recruited one then we would have produced an operating deficit for the last 2 years. Since we continue to seek such a worker the Trustees designate £80,000 towards such future costs. In view of the age of the building we anticipate the need to renew aspects of the intenor build and mechanics and potentially some exterior surfaces. We will be considering the prioritisation, timing and costs in more delail in the coming year but expect costs to be in the region of £80,000 - £120,000 on this. We also expect to increase the annual funds spent in support of Mission causes,. it is too early to specify this but we hope the increase to be in the region of £5,000 - £10,000. Taking these into account our free funds Iroundedl would be in the region of £62,000 £107,000. We noted above the uncertainty in respect of voluntary donation income. We think Ihat the income from charitable activities can only increase incrementally to offset this. As result we feel cautious about reducing the free reserves excessively until voluntary donation income increases, which may only be known when general economic circumstancès improve in the country. At that point we would hope to reduce the free reserves further. People The Trust employed 16 people during the year. We also had the services of volunteers covering over 100 'sessions" {many volunteers cover more than one "session"). These "sessions" support almost every part of the work of the church noted in this Report. During a Sunday service volunteers might comprise the Welcome Team. Ihe Musical Worship Team, the AV Team, the three "junior. teams, and sometimes the preacher. During the week volunteers would comprise the teams for Tots n Toys, Meeting Poinl, 1 st Time Mums and the 11 Small Groups, and would complement the staff in Cariad Café. Behind the scenes, volunteer Safeguarding Officers work along with the Church Administrator to ensure safeguarding standards are met, and the Elders, all volunteers but one, meet to plan and guide the progress of Ihe Church. The Trustees would like to express their sincerest thanks lo all these, whether employees or volunteers, for their service lo God, the church and the community, in their own individual capacity. The Trust would be absolutely unable to operate as il does without them. Governance The organisation is a company limited by guarantee and a registered charrty. 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 Ihe event of the company being wound up members li.e. Trustees) 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.. DA McNeill (Chairl RS Prosser (Treasurer) M Hopkins J Park S Parsons We have been seeking addilional Trustees and discussed potential new Trustees with the church. Two were appointed after the year-end (16 May 2025). Page 4
Thornhill Church Trust Trustees. Report 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. Leaders are advised by members of the church OT by external experts as appropriate to the issue. Significant matters are brought before the church members for open discussion and agreement. The Trustees meet as a minimum quarterfy and consider regulatory, employTnent and financial aspects of the Trust's operation. This includes reviewing the past and considering the future. Through the above mechanisms the Trustees have considered the main risks to which the Trust was exposed and have taken appropriate adion to mrtigate those risks. Responsibilrties 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 rts income and expenditure for the financial year. In preparing the accounts the Directors are required to.. Select suitable accounting poliaes and apply them consistently., Make sound judgements and estimates that are reasonable and prudent: and Prepare financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Diredors 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 Ad. 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 chanty on 24 July 2025 and signed on rts behaw by.. R Prosser Trustee Page 5
Thornhill Church Trust Independent Examiner's Report to the trustees of Thornhill Church Trust ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company land 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 20061'the 2006 Act,). Having satisfied myself that the accounts of the Company are not required lo 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'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5)Ib) of the 2011 Act. Independent examiner's ststement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l 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.. 1. accounting records were not kept in respect of Thornhill Church Trust as required by section 386 of the 2006 Act., or 2. the accounts do not accord with those records,. or 3. the accounts do not comply wrth 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 4. 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 [appli¢able to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 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. Rachel Gibso FCCA C12 12 Calhedral Road Cardrff CF119LJ 24 July 2025 Page 6
Thornhill Church Trust Statement of Financial Activities for the Year Ended 31 March 2025 {Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2025 Total 2024 Unrestrlcted Note Income and Endowments from: Voluntary income Charitable activities Investment income 155,440 166,093 3,398 155,440 166,093 3,398 164,877 153,931 2,881 Total Income 324,931 324,931 321,689 Expenditure on: Charitable activities Governance costs 1308.6591 1308,6591 840 {312,7471 1,440 Total Expenditure 309.499 309,499 314,187 Net income 15,432 15,432 7,502 Net movement in funds 15,432 15,432 7,502 Reconciliatlon of funds Total funds brought forward Total funds carried forward 494,159 494,159 486,657 494,159 509.591 509,591 All of the charity's activities derive from continuing operations during the above IMO periods. The notes on pages 9 to 15 form an integral part of these financial statements. Page 7
Thornhill Church Trust (Registration number: 05741145) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 236,911 243,530 Current assets Debtors Cash at bank and in hand 2,393 273,922 2,201 250,244 252,445 10 276,315 Creditors: Amounts falling due within one year 13.635 {1,816) Net current assets 272,680 250,629 Net assets 509,591 494,159 Funds of the charity: Unrestricted income funds Unrestn¢ted funds 509,591 494,159 Total funds 509,591 494,159 The financial statements on pages 7 to 15 were approved by the tTUStees, and authorised for issue on 24 July 2025 and signed on their behalf by= sfrrtj RPro ser Trustee The notes on pages 9 to 15 forn an integral part of these financial statements. Page 8
Thornhill Church Trust Notes to the Financial Ststements for the Year Ended 31 March 2025 1 Charity status The charity is limrted by guarantee. incorporated in Wales, and consequently does not have share caprtal. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation. The address of its registered office is-. Thornhill Church Excalibur Drive Thornhill Cardiff CF14 9GA These financial statements were authorised for issue by the trustees on 24 July 2025. 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 otheiSe stated. Statement of compliance The financial statements have been prepared in accordance wrth Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021) (issued in October 2019) - (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 Thornhill Church Trust meets the definrtion of a public benefrt entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notes. Going concern The Iruslees consider thal 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 attTibutable to the charity's compliance with constitutional and statutory requirements, including audit, stralegic management and trustees meetings and reimbursed expenses. Page 9
Thornhill Church Trust Notes to the Financial Statements for the Year Ended 31 March 2025 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 classrfied 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, rt 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 arsd therefore it meets the definrtion of a charrtable 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 assels costing £500.00 or more are initially recorded at cosl, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclation and amortlsation Depreciation is provided on tangible fixed assels so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Depreclation method and ratg 20 % straight line basis evenly over 50 years Asset class Fixtures and fittings Leasehold land and buildings Cash and cash equivalents Cash and cash equivalenls comprise cash on hand and call deposits. and other short-temi 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 discretion in furtherance of the objectives of the charity. 3 Voluntary income Page 10
Thornhill Church Trust Notes to the Financial Ststements for the Year Ended 31 March 2025 Unrestricted Total 2025 Total 2024 General Donations and legacies- Other donations Gift aid reclaimed Gift aided donations Grants, including capital grants- Government grants 21,632 27,131 106,677 21.632 27,131 106,677 13,972 31,406 114,152 5,347 155,440 155,440 164,877 4 Income from charitable activities Unrestricted Total 2025 Total 2024 General Fees and supplies 166,093 166,093 153,931 5 Expenditure on charitsble activities Unrestricted Total 2025 Total 2024 General Note Direct costs Cost of goods sold Staff costs Eslablishment costs Repairs and maintenance Office expenses Printing, postage and stationery Subscriptions and donations Cleaning Ministry and Mission Bank charges Depreciation of tangible fixed assets 13,864 206,237 16,092 9,599 1.876 1.887 3.243 7.735 38,219 939 8,968 13,864 206,237 16,092 9,599 1,876 1,887 3,243 7,735 38,219 939 8,968 19,578 183,279 12,742 27,759 1,801 2,679 3,865 8,086 41,803 1,021 10,134 308.659 308,659 312,747 Page11
Thornhill Church Trust Notes to the Financial Statements for the Year Ended 31 March 2025 Total expenditure In addition to the expenditure analysed above. there are also govemance costs of £840 {2024 £1,440) which relate directly to charrtable activities. See note 6 for fvrther details. 6 Analysis of governance and support costs Governance costs Unrestricted funds General Total funds Accountancy fees Total for 2025 Total for 2024 1,440 1,440 7 Trustees remuneration and expenses No trustees, nor any persons connected wrth 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 2025 8 Taxation The charity is a registered charity and is therefore exempt from taxation. 9 Tangible fixed assets Land and bulldlngs Furniture and equipment Total Cost At 1 April 2024 Additions 302,594 106,486 2,349 409,080 2,349 At 31 March 2025 302,594 108,835 411,429 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 67,328 6,052 98,222 2,916 165,550 8,968 73,380 101,138 174,518 Net book value At 31 March 2025 229,214 7,697 236,911 At 31 March 2024 235,266 8,264 243,530 Included within the nel book value of land and buildings above is £Nil {2024 £Nil) in respect of freehold land and buildings and £229,21412024 - £235,266) in respect of leaseholds. 10 Cash and cash equivalents 2025 2024 Cash at bank 273,922 250.244 Page13
Thornhill Church Trust Notes to the Financial Statements for the Year Ended 31 March 2025 11 Creditors: amounts falling due within one year 2025 2024 Other taxation and sctial securty other creditors 2,333 1,302 861 955 3,635 1,816 Page 14
Thornhill Church Trust Notes to the Financial Statements for the Year Ended 31 March 2025 12 Staff costs The aggregate payroll costs were as follows.. 2025 2024 Wages and salaries 204,679 182,234 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year was as follows.. 2025 2024 employees 16 No employee received emoluments of more than £60,000 during the year. Page 15