## Trinity Cheltenham Trust Limited
Annual Report and Financial Statements for the year ended 31 December 2021
Registered Charity No. 1128804 Company No. 06681048
Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## CONTENTS
||Page|
|---|---|
|Directors’ report|1-5|
|Independent examiners’ report|6|
|Statement of financial activities|7|
|Balance sheet|8-9|
|Notestothefinancialstatements|10-16|
Trinity Cheltenham Trust Limited Annual Report and Accounts 2021
Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## 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 2021 to 31 December 2021. The Directors who served during this time were:
## Permanent Directors
Team Rector of Holy Trinity Church, Cheltenham Rev Andrew Blyth
Churchwardens of Holy Trinity Church, Cheltenham Helen Stott Until 14° February 2021 James Mears Until 14” February 2021 Elizabeth Lang From 14” February 2021 Barry Lambert From 14" February 2021 Elected Directors Martin Dearman Until 14” June 2021 Steven Hughes Until 22°" July 2021 Christine Robertson Re-elected at the AGM Nigel Jobson Re-elected at the AGM Guy Warner Appointed June 2021; Elected at the AGM
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 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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Independent Examiners
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Trinity Cheltenham Trust Limited Annual Report and Accounts 2021
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## 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.
Trinity Cheltenham Trust Limited Annual Report and Accounts 2021
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## Directors’ Report (continued)
## Achievements, performance and plans for future periods
Throughout 2021 and against the backdrop of the Covid-19 pandemic TCT has continued to focus on the utilisation of facilities and generating sufficient funds and donations to serve its aims and objectives and meet its financial obligations, including servicing and reducing debt.
TCT has continued to operate substantially through 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 owns the freehold (TCT has a mortgage with Kingdom Bank, secured against these assets). The Trust also maintained a lease for rental of additional office space at ‘Winchcombe House’ on Winchcombe Street in Cheltenham. Space in these properties being utilised to further the Trust's aims and objectives by organisations whose objectives are congruent with that of TCT.
- e The main licensed user continues to be The PCC of Trinity Church Cheltenham, under a nonexclusive contract. The PCC provide a range of services directly from the buildings including practical help and advice for the homeless and socially excluded; community facilities for social welfare and groups and courses to promote the Christian faith.
- e The other key users and projects served through use and hire of the facilities have been The Armoury Community gym run in partnership with local Cheltenham charity, Fresh Hope, and PACE, a charity providing services for adults with learning difficulties.
- e A range of one-off community and social welfare activities and events have also been hosted — although reduced in number by the continuing impact of Covid-19.
In last year's report, the Directors noted that a review of the use and lease for the offices at ‘Winchcombe House’ had concluded the need to identify better suited office space than that currently leased at Winchcombe House. The Directors are pleased to report the freehold purchase of a small office building located at 45 Portland Street. This was enabled through receipt of a generous donation from an existing supporter covering half of the purchase costs and provision of bridging finance through another supporter. A second mortgage with Kingdom Bank secured against this asset has now been secured and notice given on Winchcombe House. In the course of a full year, the cost of the new office space will be considerably less than Winchcombe House.
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.
## Financial review
Total income in the year was £319,011 (2020 - £130,601), this included a donation towards buying 45 Winchcombe Street. The main source of income was from charitable gifts or donations, which totalled £254,871 (2020 - £71,057). This figure was inclusive of £7,693 (2020 - £8,385) Gift Aid recovered. There were no restricted gifts received within the year (2020 — nil). TCT also generated £64,140 (2020 - £59,544) in the year through sales activity with income from the use of its facilities. Total Expenditure in the year was £132,740 (2020 - £122,413), including £24,262 (2020 - £38,565) 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 (2020 — nil).
The resulting surplus for the year was £186,271 (2020 - £8,188). Cumulative funds at the year-end were £838,032 (2020 - £651,761), which includes no carried forward restricted funds (2020- nil). Trinity Cheltenham Trust Limited Annual Report and Accounts 2021
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## Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
At the year end, TCT owned tangible fixed assets with a net book value of £1,347,140 (2020 - £935,129) and had net current liabilities of £213,645 (2020 net current assets — £25,265) TCT’s creditors which are due after more than one year are £295,463 (2020 - £308,633), 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 creditor of £3,027 (2020 debtor - £2,197) at the year-end representing the balance of the VAT quarter ended 31 December 2021.
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 other charitable organisations, the charity was again impacted by the Coronavirus pandemic, with reduction in rental opportunities.
The Trustees will continue careful monitoring of income and expenditure to ensure that the charity can continue to meet all its obligations.
## 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 on the 14" June 2021.
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
This report was approved by the directors on ABLE. Dua&...... 2022 and signed on their behalf by
Myth, r Nige/Jobso Director i iz
\ oI Mr Andrew Blyt Director
Trinity Cheltenham Trust Limited Annual Report and Accounts 2021
)
## Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021 aeenenim 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 2021. ,
## 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
- 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 enters the 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.
Sad bonnef Scott Lawrence Hazlewoods Chartered Accountants Cheltenham
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Date: \3 vasa te. .2022
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## Statement of Financial Activities
|||2021|2020|
|---|---|---|---|
||Note|£|£|
|Income and endowments from:||||
|Donations|2|254,871|71,057|
|Charitable activities|3|64,140|59,544|
|Total income and endowments||319,011|130,601|
|Expenditure on:||||
|Charitable activities|4|132,740|122,413|
|Total expenditure||132,740|122,413|
|Net movement in funds and||||
|total funds carried forward||186,271|8,188|
|Total funds brought forward|14|651,761|643,573|
|Totalfundscarriedforward|14|838,032|651,761|
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 2021
## Balance Sheet as at 31 December 2021
|||2021|2021|2020|2020|
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Fixed assets.||||||
|Tangible assets|9||1,347,140||935,129|
|Current assets||||||
|Debtors|10|13,635||22,802||
|Cash at bank and in hand||12,134||41,513||
|||25,769||64,315||
|Creditors: amounts falling due within||||||
|one year|11|(239,414)||(39,050)||
|Net current assets|||(213,645)||25,265|
|Total assets less current liabilities|||1,133,495||960,394|
|Creditors: amounts falling due after||||||
|more than one year|11||(295,463)||(308,633)|
|Net assets|||838,032||651,761|
|Funds||||||
|Unrestrictedfunds|15||838,032||651,761|
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## 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 ARG... DRL... 2022 and signed on its behalf by:
Miss Christine Robertson Director
The notes on pages 9 to 16 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 2021
## Notes to the Financial Statements
1. Accounting policies
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 and reviewed detailed forecasts.
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 2021
## 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. Itincludes 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 ona 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 2021
## 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
||2021|2020|
|---|---|---|
||£|£|
|Gifts and donations|247,178|62,672|
|Income Tax recoverable and related gift aid claimed|7,693|8,385|
||254,871|71,057|
|TrinityCheltenhamTrustLimited||12|
Trinity Cheltenham Trust Limited Annual Report and Accounts 2021
Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## Notes to the Financial Statements (continued)
|3.|Income from charitable activities||||
|---|---|---|---|---|
||||2021|2020|
||||£|£|
||Income from use offacilities||63,951|59,268|
||Other income||189|276|
||||64,140|59,544|
|4.|Analysis ofexpenditure on charitable|activities|||
||||2021|2020|
|||Notes|£|£|
||Costs of providing facilities:||||
||Donations||-|3,916|
||Direct costs|5|74,277|81,043|
||Support costs|6|58,463|37,454|
||||132,740|122,413|
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.
## 5. Activities undertaken directly: Direct costs
|5.|Activities undertaken directly: Direct costs|||
|---|---|---|---|
|||2021|2020|
|||£|£|
||Premises expenses|17,355|7,404|
||Rent, rates and utilities|41,758|54,013|
||Equipment purchases|775|2,151|
||Insurance|5,069|3,723|
||Repairs and renewals|9,320|3,060|
||Event expenses|-|10,692|
|||74,277|81,043|
|6.|Support costs|||
|||2021|2020|
|||£|£|
||Bank charges|118|28|
||Interest paid|7,406|8,096|
||Legal and Professional fees|26,891|6,371|
||Other general & admin expenses|5,839|5,496|
||Depreciation|15,477|14,765|
||Independent examination fees|2,732|2,698|
|||58,463|37,454|
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## 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 2021 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|||||
|---|---|---|---|---|---|
|||Freehold|Leasehold|Fittings,||
|||land and|property|fixtures|Total|
|||buildings||and||
|||||equipment||
|||£|£|£|£|
||Cost|||||
||At 1 January2021|597,242|489,000|37,309|1,123,551|
||Additions|427,488|-|-|427,488|
||At 31 December 2021|1,024,730|489,000|37,309|1,551,039|
||Depreciation|||||
||At 1 January2021|129,410|24,287|34,725|188,422|
||Charge for the year|12,157|1,956|1,364|15,477|
||At 31 December 2021|141,567|26,243|36,089|203,899|
||Net book value|||||
||At 31 December 2021|883,163|462,757|1,220|1,347,140|
||At 1 January 2021|467,832|464,713|2,584|935,129|
|10.|Debtors|||||
|||||2021|2020|
|||||£|z|
||Trade Debtors|||-|-|
||Gift aid recoverable|||2,071|1,236|
||VAT debtor|||-|2,197|
||Prepayments and accrued income|||11,564|19,369|
|||||13,635|22,802|
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## Notes to the Financial Statements (continued)
|11.|Creditors: amounts falling due within one year||||
|---|---|---|---|---|
||||2021|2020|
||||£|£|
||Bank loan (secured)|12|12,047|12,030|
||Short term loan||200,000|-|
||Trade creditors||7,172|15,926|
||Corporate Credit Card||88|1,609|
||Accruals and deferred income||17,080|9,485|
||VAT Liability||3,027|-|
||||239,414|39,050|
||Due after one year:||||
||||2021|2020|
||||£|£|
||Bank loan (secured)|12|258,963|272,133|
||Other long term loans||36,500|36,500|
||||295,463|308,633|
|12.|Loans and borrowings||||
||Current loans and borrowings:||||
||||2021|2020|
||||£|£|
||Bank loan (secured)||12,047|12,030|
||Short term loan||200,000|-|
||||212,047|12,030|
||Non-current loans and borrowings:||||
||||2021|2020|
||||£|£|
||Bank loan (secured)||258,963|272,133|
||Other long term loans||36,500|36,500|
||||295,463|308,633|
||The bank loan is secured against the properties held|by the Company.|||
|13.|Deferred income||||
||||2021|2020|
||||£|£|
||Balance as at 1 January 2021||-|-|
||Received in the year||12,035|-|
||Amount released in the year||-|-|
||Balanceasat31December2021||12,035|-|
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Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2021
## 14. 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.
|15.|Statement of movement in reserves||
|---|---|---|
|||Funds|
|||£|
||Balance at 1 January 2021|651,761|
||Movement in the year|186,271|
||Balanceat31December2021|838,032|
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