2020-12-31-accounts

Trinity Cheltenham Trust Limited

Annual Report and Financial Statements

for the year ended 31 December 2020

Registered Charity No. 1128804 Company No. 06681048

Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

CONTENTS

	Page
Directors’ report	1-5
Independent examiners’ report	6
Statement of financial activities	7
Balance sheet	8-9
Notestothefinancialstatements	10-15

Trinity Cheltenham Trust Limited Annual Report and Accounts 2020

Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Directors’ Report

Reference and administrative details

Trinity Cheltenham Trust Limited (TCT) was established in August 2008 as a Company Limited by Guarantee (Company Registration number 06681048), incorporated in England & Wales. TCT is a registered charity as recognised by the Charities Commission (Charity number 1128804) and is accredited in the HMRC Gift Aid scheme.

TCT is situated in Cheltenham, with its registered address being St James’ House, St James’ Square, Cheltenham GL50 3PR and its administrative address being Trinity Fusion, 98 Winchcombe Street, Cheltenham, GL52 2NW.

This report covers the accounting period of TCT, from 1 January 2020 to 31 December 2020. The Directors who served during this time were:

Name Permanent Directors Rev Andrew Blyth Team Rector, Holy Trinity Church, Cheltenham Helen Stott Churchwarden, Holy Trinity Church, Cheltenham James Mears Churchwarden, Holy Trinity Church, Cheltenham Elected Directors Martin Dearman Re- elected at the AGM Steven Hughes Re- elected at the AGM Christine Robertson Re-elected at the AGM Nigel Jobson Appointed March 2020; Elected at the AGM

Elected Directors

The Directors of TCT also call upon specialist advice in the areas of Health and Safety, Finance and Premises Management.

TCT’s Solicitors, Bankers and Independent Examiners are listed below:

Solicitors Bankers Independent Examiners BPE Solicitors LLP . National Westminster Bank PLC Hazlewoods LLP St James’ House 31 Promenade Staverton Court St James’ Square Cheltenham Staverton Cheltenham GL50 1LE Cheltenham GL50 3PR GL51 OUX

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Directors’ Report (continued)

Structure, governance and management

As TCT was established for the benefit of the Christian congregational community of Cheltenham, the majority of Directors are appointed through direct elections within the local parish. Prospective Directors are nominated by the congregation, and elected at the TCT Annual General Meeting.

In order to maintain the objective of operating for the benefit of Holy Trinity Church, Cheltenham and other such bodies as the directors may see fit, the board has a minimum of seven members. This membership consists of three permanent members, being the incumbent minister of Holy Trinity Church, Cheltenham and the two church wardens. In addition, a minimum of four ordinary members, elected as detailed above.

No business is transacted at general meetings without a quorum present, being no less than five Directors entitled to vote, of whom not less than three must be elected Directors.

The Directors of TCT may delegate certain authorities to specific Directors or other persons as is felt necessary.

When appointing newly elected Directors, TCT has a policy of induction which includes ensuring that they are fully aware of their responsibilities in relation to both Companies House and Charities Commission guidance and the objectives of TCT.

Risk management

The board regularly discuss and assess the major risks to which the company is exposed and considered the safeguards that have been and can be implemented to mitigate those risks. In accordance with the Statement of Recommended Practice for charities the Directors annually review and update the formal risk assessment.

Objectives and activities

The aims and objectives of Trinity Cheltenham Trust Limited are as follows:

• e To promote and advance all aspects of the Christian faith including, but not limited to, the promotion of Christian beliefs through the holding of prayer meetings, lectures, public celebration of religious festivals and producing or distributing literature relating to Christian faith to enlighten others about the Christian faith.

• e To provide and maintain community facilities for recreational or any other purposes including leisure time activities in the interests of social welfare as the company may think fit from time to time, with the object of improving the conditions of life and benefiting those persons who have need by reason of (to include but not be limited to) their youth, poverty or social or economic circumstances.

• e To relieve hardship, including financial hardship and to promote and preserve good health by the provision of food, funds and support (to include advice and counselling) and such other assistance that the company may think fit to offer from time to time, to benefit the homeless, aged, disabled, single parent families and other persons in need.

TCT is committed to enabling as many people as possible to have access to its facilities and we maintain a policy of being open and inclusive for all sections of the community. In striving towards this, TCT has considered the Charity Commissioners’ guidance on public benefit.

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Directors’ Report (continued)

Achievements, performance and plans for future periods

TCT continues to focus on the maximum utilisation of its facilities and generate sufficient funds through the provision of these facilities and the receipt of donations to serve its aims and objectives and meet its financial obligations including servicing and reducing debt.

In line with the aims and objectives, TCT has continued to operate the property known as ‘Trinity Fusion’ at 98 Winchcombe Street Cheltenham, held on a 250 year leasehold, and the adjoining building, known as ‘Trinity House’ at 100-102 Winchcombe Street Cheltenham, for which TCT own the freehold. TCT has a mortgage with Kingdom Bank, secured against it assets. TCT has also maintained a lease for rental of additional office space at ‘Winchcombe House’ on Winchcombe Street in Cheltenham.

All properties are being utilised by organisations whose objectives are congruent with that of TCT, the main user being Trinity Church Cheltenham, which operates a non-exclusive contract for the use of facilities from TCT. The Trustees are pleased to have supported a number of users and charitable projects in line with our objectives including hosting Armoury Community gym in partnership with the local charity Fresh Hope, providing space for adults with learning difficulties and running Carols by Car-Light event at the Cheltenham Racecourse in partnership with Love Cheltenham.

In common with all charities, the trustees have been mindful of the direct and future implications of COVID-19 on activities. Please see comments below on financial aspects; however, we are pleased to report that we have been able to maintain many of our activities despite pressures. A review of the use and lease for the offices at ‘Winchcombe House’ has concluded with the decision to give these up at some point during the coming year. This will enable more efficient use of our other buildings and reduce costs.

Financial review

Total income in the year was £130,601 (2019 - £128,284). The main source of income was from charitable gifts or donations, which totalled £71,057 (2019 - £64,760). This figure was inclusive of £8,385 (2019 - £9,529) Gift Aid recovered. There were no restricted gifts received within the year (2019 — nil). TCT also generated £59,544 (2019 - £63,524) in the year through sales activity with income from the use of its facilities.

Total Expenditure in the year was £122,413 (2019 - £126,065), including £38,565 (2019 - £38,075) on rent and service charge for Winchcombe House offices and service charge associated with the leasehold of Trinity Fusion.

There were no expenses against restricted funds in the year (2019 — nil).

The resulting surplus for the year was £8,188 (2018 - £2,219). Cumulative funds at the year-end were £651,761 (2019 - £643,573), which includes no carried forward restricted funds (2019 - nil).

At the year end, TCT owned tangible fixed assets with a net book value of £935,129 (2019 - £949,894) and had net current assets of £25,265 (2019 — £21,230) TCT’s creditors which are due after more than one year are £308,633 (2019 - £327,551), which represents the balance of the Kingdom Bank mortgage together with a private unsecured interest free loan.

TCT is registered for VAT. All items shown in the financial statements are net of VAT, with a VAT debtor of £2,197 (2019 creditor - £61) at the year-end representing the balance of the VAT quarter ended 31 December 2020.

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

TCT continues to exercise all appropriate internal controls, reporting and general financial systems to ensure effective financial management and to limit financial exposure wherever possible. The Trustees are currently assessing the need for major expenditure on repairs required to the roof of the Fusion building. Over recent years, money has been set aside into a capital projects fund and the Trustees will make use of this.

TCT holds no stock or petty cash.

COVID19

In common with all charitable organisation, the charity has faced restrictions as a result of the Coronavirus pandemic, with some reduction in rental opportunities and the need to offer a rental holiday to one user. All activities are being risk assessed to ensure compliance with government regulations as these are updated. However, through careful monitoring and management of costs we are pleased to report that finances have remained secure.

The Trustees are mindful of a the potential for further impact on finances and will continue careful monitoring of income and expenditure to ensure that the charity can continue to meet all its obligations. As lockdowns ease, forecasts and spending plans for the remainder of 2021 will be monitored and updated through regular reports and meetings.

Statement of directors’ responsibilities

The charity trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:

• e select suitable accounting policies and then apply them consistently;

• e make judgements and estimates that are reasonable and prudent;

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue to function;

• e observe the methods and principles in the Charities SORP; and

• e state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the relevant Companies Act and Charities 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.

Independent examiners

A resolution proposing that Hazlewoods LLP be re-appointed as independent examiner of TCT was passed via email on the 20" December 2019. This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

This report was meee by the directors on eM Math... 2021 and signed on their behalf by Mr~ aoe Nigel Geedobsonany YsVA MriAdoAndrewAah Cl eaeGee er Diréct Director

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Independent examiner's report to the Trustees on the unaudited financial statements of Trinity Cheltenham Trust Limited

| report to the Trustees on the financial statements of Trinity Cheltenham Trust Limited for the year ended 31 December 2020.

Respective responsibilities and basis of report

As the charity's trustees of the Company (who are also the directors of the company 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 the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, | 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, | have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

| have completed my examination. | confirm that no material matters have come to my attention giving me cause to believe that in material respect:

• accounting records were not kept in accordance with section 386 of the Companies Act 2006; or

• e the accounts do not accord with such records; or

• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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

• ¢ the accounts have not been prepared in accordance with the Charities SORP (FRS102).

In considering other matters to which attention should be drawn, we draw your attention to note 1.2 to the financial statements and the disclosures made in the going concern accounting policy which describes an uncertainty relating to the going concern of the Charity. The Charity is dependent on donations and other income which are inherently uncertain and difficult to predict as the UK eases lockdown and enters the inevitable post lockdown recession. The financial statements do not include any adjustments that would result if the financial statements were not prepared on a going concern basis.

Otherwise | 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.

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Hazlewoods
Chartered Accountants
Cheltenham
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Statement of Financial Activities

		2020	2019
	Note	£	£
Income and endowments from:
Donations	2	71,057	64,760
Charitable activities	3	59,544	63,524
Total income and endowments		130,601	128,284
Expenditure on:
Charitable activities	4	122,413	126,065
Total expenditure		122,413	126,065
Net movement in funds and
total funds carried forward		8,188	2,219
Total funds brought forward	14	643,573	641,354
Totalfundscarriedforward	14	651,761	643,573

All funds are unrestricted in the current and prior year.

Continuing operations

Income derives wholly from continuing operations.

Total recognised gains and losses

There are no recognised gains or losses in the above financial year other than those passing through the Statement of Financial Activities.

The notes on pages 9 to 14 form an integral part of these financial statements.

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Balance Sheet as at 31 December 2020

		2020	2020	2019	2019
	Notes	£	£	£	£
Fixed assets
Tangible assets	9		935,129		949,894
Current assets
Debtors	10	22,802		24,146
Cash at bank and in hand		41,513		17,813
		64,315		41,959
Creditors: amounts falling due within
one year	11	(39,050)		(20,729)
Net current assets			25,265		21,230
Total assets less current liabilities			960,394		971,124
Creditors: amounts falling due after
more than one year	11		(308,633)		(327,551)
Net assets			651,761		643,573
Funds
Unrestrictedfunds	14		651,761		643,573

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

;

Balance Sheet (continued)

Directors’ Statements required by Section 475 for the year ended 31 December 2020

In approving these financial statements as directors of the company we hereby confirm:

(a) that for the period stated above the charitable company was entitled to the exemption conferred by Section 477 of the Companies Act 2006;

(b) that no notice has been deposited at the registered office of the charitable company pursuant to Section 476 requesting that an audit be conducted for the year ended 31 December 2019 and

(c) that we acknowledge our responsibilities for:

(1) ensuring that the company keeps accounting records which comply with Section 386, and

(2) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit or loss for the period then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the board of directors on Ad Mase. 2021 and signed on its behalf by:

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Albean
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Miss Christine Robertson Director

The notes on pages 9 to 14 form an integral part of these financial statements.

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: 1. Accounting policies

Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Notes to the Financial Statements

1.1. Basis of preparation The financial statements have been prepared under the historical cost convention and in accordance with the Charity Statement of Recommended Practice 2019 for FRS102. The trust constitutes a public benefit entity as defined by FRS 102. The principal accounting policies adopted in the preparation of the financial statements are as follows:

1.2 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast a significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of one year from the date of approval of the financial statements.

In making the current year’s assessment the Trustees have taken into account cash reserves and available unrestricted funds at the point of approving the financial statements, reviewed detailed forecasts that take account of the anticipated impact of coronavirus and considered the availability and use of Government support, such as staff furlough schemes.

There are inherent uncertainties regarding the forecasts, such as the extent of the impact of the UK recession on the Charity and the levels of future incoming resources. However the Charity continues to be supported by its supporters and the Trustees have a reasonable expectation that the Charity will have adequate resources to continue in operation for at least 12 months from approval of these financial statements.

Consequently, the Trustees have concluded that it is appropriate to adopt the going concern basis in preparing the annual statements.

1.3. Judgements and estimation uncertainty The Trustees make estimates and assumptions concerning the future. There are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

• 1.4 Funds

General funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Trustees. Funds designated for a particular purpose by the Trustees are also unrestricted.

Restricted funds represent the funds of the charity that can only be used for particular restricted purposes with in the object of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.

The financial statements include all transactions, assets and liabilities for which the Trustees are responsible in law. They do not include the financial statements of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members.

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Notes to the Financial Statements (continued)

1.5. Income and endowments The charity is registered for VAT. Income from use of facilities represents the total invoice value, excluding VAT, of sales and rentals made during the year.

Donations and legacies are included in full in the statement of financial activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.

Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of financial activities in the year in which they are receivable.

Income from investments is included in the year in which it is receivable.

• 1.6 Expenditure

Expenses are recognised in the year in which they are incurred.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

1.7 Taxation The charities activities fall within the exemptions afforded by the provision of the Income and Corporation Taxed Act 1988. Accordingly, there is no taxation charge in these financial statements.

1.8 Capitalisation and depreciation of tangible fixed assets All assets costing more than £1,000 are capitalised.

Depreciation is provided at rates calculated to write off the cost less residual value of each asset (excluding freehold land) over its expected useful life, as follows:

Freehold buildings - 50 years straight line Fixtures, fittings and equipment - 25% straight line Leasehold property - 250 years straight line

1.9 Leasing Rentals payable under operating leases are charged against income on a straight-line basis over the lease term.

1.10 Trade debtors Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Notes to the Financial Statements (continued)

• 1.11 Trade creditors

Trade creditors are obligations for pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement for at least twelve months after the reporting date, otherwise they are presented as noncurrent liabilities. Trade creditors are recognised initially at the transaction price and are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

1.12 Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented asa liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

• 1.13. Fund accounting Funds held by the charity are either:

Unrestricted funds - these are funds which can be used in accordance with the charitable objects at the discretion of the directors.

Designated funds - these are funds which can be used in accordance with the charitable objects at the discretion of the directors.

Restricted funds - these are funds which can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. Income from donations

	2020	2019
	£	£
Gifts and donations	62,672	55,231
Income Tax recoverable and related gift aid claimed	8,385	9,529
	71,057,	ss« GO
TrinityCheltenhamTrustLimited		12

Trinity Cheltenham Trust Limited Annual Report and Accounts 2020

Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Notes to the Financial Statements (continued)

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|||||||| |---|---|---|---|---|---|---| |3.|Income|from|charitable|activities| |2020|2019| |£|£| |Income|from|use|of|facilities|59,268|63,482| |Other|income|276|42| |59,544|63,524| |4.|Analysis|of|expenditure|on|charitable|activities| |2020|2019| |Notes|£|£| |Costs|of|providing|facilities:| |Donations|3,916|-| |Direct|costs|5|70,351|89,035| |Support|costs|6|48,146|37,030| |122,413|126,065|

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All of the charitable activities relate to the provision of Trinity House, Fusion and Winchcombe House to The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity, Cheltenham in support of their charitable objectives. The charity does not provide any grant funding or similar support.

1. Activities undertaken directly: Direct costs

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|||||||| |---|---|---|---|---|---|---| |2020|2019| |£|£| |Premises|expenses|7,404|11,789| |Rent,|rates|and|utilities|54,013|59,355| |Equipment|purchases|2,151|7,873| |Insurance|3,723|3,592| |Repairs|and|renewals|3,060|6,426| |Event|expenses|10,692|-| |81,043|89,035| |6.|Support|costs| |2020|2019| |£|£| |Bank|charges|28|62| |Interest|paid|8,096|9,984| |Legal|and|Professional|fees|6,371|4,392| |Other|general|&|admin|expenses|5,496|5,608| |Depreciation|14,765|14,349| |Independent|examination|fees|2,698|2,635| |37,454|37,030|

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Notes to the Financial Statements (continued)

7. Staff costs

The charity has no employees. The work of the charity is undertaken by volunteers and employees of The Parochial Church Council of the Ecclesiastical Parish of Holy Trinity Cheltenham on a free of charge basis. The only exception in 2019 was the recharge of bookkeeping and management accounts services as professional fees included within support costs.

8. Related party disclosures

None of the directors received any remuneration in the year.

There were no other transactions related to the directors and no amounts outstanding at the year end in relation to transactions with directors other than loan balances mentioned above.

9. Tangible fixed assets

9.	Tangible fixed assets
		Freehold	Leasehold	Fittings,
		land and	property	fixtures	Total
		buildings		and
				equipment
		£	£	£	£
	Cost
	At 1 January 2020	597,242	489,000	37,309	1,123,551
	Additions	-	-	-	-
	At 31 December 2020	597,242	489,000	37,309	1,123,551
	Depreciation
	At 1 January 2020	117,965	22,331	33,361	173,657
	Charge for the year	11,445	1,956	1,364	14,765
	At 31 December 2020	129,410	24,287	34,725	188,422
	Net book value
	At 31 December 2020	467,832	464,713	2,584	935,129
	At 1 January 2020	479,277	466,669	3,948	949,894
10.	Debtors
				2020	2019
				£	3
	Trade Debtors			-	11,307
	Gift aid recoverable			1,236	685
	VAT debtor			2,197	-
	Prepayments and accrued income			19,369	12,154
				22,802	24,146

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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2020

Notes to the Financial Statements (continued)

11.	Creditors: amounts falling due within one year
			2020	2019
			£	£
	Bank loan (secured)	12	12,030	10,575
	Trade creditors		15,926	4,276
	Corporate Credit Card		1,609	271
	Accruals and deferred income		9,485	5,546
	VAT Liability		-	61
			39,050	20,729
	Due after one year:
			2020	2019
			£	£
	Bank loan (secured)	12	272,133	286,051
	Other long term loans		36,500	46,500
			308,633	327,551
12.	Loans and borrowings
	Current loans and borrowings:
			2020	2019
			£	£
	Bank loan (secured)		12,030	10,575
			12,030	10,575
	Non-current loans and borrowings:
			2020	2019
			£	£
	Bank loan (secured)		272,133	286,051
	Other long term loans		36,500	41,500
			308,633	327,551

The bank loan is secured against the properties held by the Company.

13. Company status

The members of the company are the directors named in the directors’ report. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

14. Statement of movement in reserves

Statement of movementmovement in reserves
	Funds
	£
Balance at 1 January2020	643,573
Movement in the year	8,188
Balanceat31December2020	651,761

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