Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2022 R•glst8r•d Charlty No. 1128804 Company No. 06681048 Trlnty Chelt•nham Trust Llmltod Annual Report and Financial Statements for the yèar ended 31 Decembgr 2022 COIITENTS Page Directors, réport Independent ex•mln&rs' report statement of ffinancial actlv6tl•s Balance theet Notes to the financial Statements 10-16 Trfnity Cheltenham Trust Limited Annual Report and Acc¢)unts 2021 Trinty Cheltenham Trust Limited Annual Roport and Flnancial Ststements for the year ènded 31 D¢¢ember 2022 Dir•ctors' Rgport Rfrforence and admlnlBtratlve detalls Trinty Cheltenham Trust Limited ITCTI was established in August 2008 as a Company Llmiled by Guarantee (Company Registration number 06681048), incorporated in England & Wales. TCT 18 a registered chanty as recognised by the Charilieg Commission Icharity number 1128804} and is accredited in the HMRC Gfft Ald scheme. TCT is situated in Cheltenham, with its registered address being Sl James, Hou8e, St James. Square. Chemenham GL50 3PR and its administrative address being Trinity Fu8lon, 98 Winchcombe Street. Cheltenh4m, GL52 2NW. Thi8 report covers the accounting period of TCT, from 1 January 2022 to 310ecember 2022. The Dlrectors who 8erved during thi8 lime were.. Permanent Director5 Team Rectorof Holy Trinily Church, Cheltenham Rev Andrew Btylh Churchw8rd8ns of Holy Trtnity Church. Ch8ltenham Elizabeth Lang From 141h Febnjary 2021 Barry Lambert From 141h February 2021 Elected Dlreclors Chrfsline Robertson Nigel Jobson Guy Wamer Rg4lecled al the AGM Rewelecled al the AGM R8416cl8d 8t the AGM The Oireclors of TCT al80 call upon $peciali8t advice in the area8 of Health and Safety, FSnan¢e and Premises Management. TCT'8 Solicltor8, Banker8 and Independent Examin•r8 are listed bglow.. Sollcllors 88nkern Independent Examiners BPE Sollcilors LLP Sl Jame$, House st Jarne¥' Squar• Cheltenham GL50 3PR Natlonal Weslmlnsler Bank PLC 31 Promenade Chellenham GL50 1LE Hazlewoods LLP Staverton Court Stsverton Cheltenham GL51 OUX Trlnlty Cheltenham Trust Llmlted Annual Roport and Accounts 2022 Trinity Cheltenham Trust Limited Annual Roport and Financlal Statements for the year ended 31 December 2022 Objgctlvgs and activltlos The alms and objectives of Trinity Cheltenham Trust Limited are as follows., To promote and advance all aspects of the Christian faith including, bul not Ilmked to, the promotion of Chrisban beliefs through the holding of prayer meeb"ngs, lectures. public Celebration of religious legtivals and producing or di$lnbuling liter8lure relating to Christian faith lo enlighten others about the Christian faith. To provide and malntain communty facilities for recreational or 8ny other purposes includlng leisure lime activities in the interests of social welfare a5 the company may think fil from time lo lime, with the object of improving the condlliong of life and benefiting those persons who have need by reason of (to include but not be limited tol their youth, poverty or social or economic circumstances. To relieve hardship. including financial hardship and to promote and preserve good health by the provision of food. funds and support (to include advice and counsellingl and such other assistance that the company may think fil to offer from time lo lime, lo benefit the homelesB, aged. disabled, single parent families 8nd olhef persons in need. TCT is committed to enabling as many poople as posslble lo have access lo ils focililies and we maintain policy of being open and inclusive for all 88clions of the community. In slrlving towards th￿, TCT has considered the Charity Cornmi8sioner$' guidance on public benefit. 8tru¢tur•. yov•rn*nc• and m•n•g•m•nt In order lo malnt8in the charitable objects. the Board ol Dlrectors has a mlnbmum of seven members. Three pernianenl members are the Incumbent minister of Holy Trinlty Church, Chellenham and tha elected Churchwardens. A minimum of four other 'ordinary memberg, are nominated from the members of Holy Trinity Church and elected al the Annual General Meeting. Ne￿Y appointed Dlrecters. an Induction brleflng is given lo ensure they are aware of their respon$ibilill89 in relallon to both CompanSe$ House and Charltl•s Commis8ion guidance and the objectives of TCT. A minimum ol three general meefjngs are held through the year. The￿ must be 8 quorurn present lo conduct any buslness of no les5 than five Directors enblled to vole. of whom not less than three musl be elgcted directors. The Oireclor$ may delegate certain aulhonties lo specific direthrs or other persons as 18 fek nece¥$ary to conduct buslness tse￿een meeting¥ and facilitate the work of the Trust. Rl¥k managemgnt The board regularly dlscu39 and assess the major rlsks lo which the company is exposed and considered the safeguards that have been and can be implemented lo mitigate those risks. In accordance wth the Slalement of Recommended Practice for charities the Dlrectors annually review and update the formal risk assessment. Trinity Cheltenham Trust Limited Annual Report and A¢¢ounts 2022 Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 De¢ember 2022 Directors, Report (continued) Achlov&monts. porf0rn)ance and plans for futurn p•rfods Throughout 2022 8nd against the backdrop of the continuing impact of the Covid-19 pandemic, TCT has continued to focus on the ulilisation of faeilits.es and generating sufficient funds and donations to serve its aims and objecth'ves and meet its ffinancial obligations, including servicing and reducing debt. TCT owns the property knobyn as 'Fusion' al 98 Wnchcombe Street Cheltenham. held on a 250 year leasehold, and the adjoining building. known as'Trinity House, at 100-102 Vlfinchcombe Street Cheltenham, for which TCT owns the freehold ITCT has a mortgage with Kingdom Bank, secured against these agsets}. For part of the year. the Trust also maintained a lease for office space al 'Winchcombe House, on Wirnchcombe Street in Cheltenham. However, during the yearas a result of a substsnlial voluntary donation, the Trust completed the refurbishment of a newly acquired business propety al 45 Portland Street and therefore ended the lease on Winchcombe House. The Trustees are currently as8888ing the need for expen￿ku￿ on repalrs to Fusion and Trinity House. The Tru81 gains an Income and furthers its charitable aims through hosllng aclivrties and provlding Space In the8e propertleg lo organisalions whose objectives are congruent wllh that of TCT,. The PCC of Trinity Church Cheltenham. under a non-exclusbve license, use the buildings throughout the week to host groups and activlb.es promobng the Christian faith and lo provide range of communlty services lo givg pra¢lical help and advlce lo Ihts homel•ss and socially exduded. The Armoury Communmy gym - run In Fuslon in partnershSp wth local Cheltenham charity. Fresh Hope. SPEAR - space for a new centre lo run this nationally acclaimed programme providing trainlng support for 16-24yoar olds not in Educauon, Employment or Tralnlng A rangè of one.off communty and 8oGlal welfare aclivilles and evenl8 organlsed by local groups. Th• DireGtt>r$ made a grant lo enable two students lo participate in th• FORM dlsclpleship programme at Trinity Chellenham. Flnanclal rnvlow Tot81 income in the year was £137.36612021 . £319,011). The main source of Income was from chorilable gffts or donations, which lotalled £70,57612021 £254.8711. This figure was inelusive of £8,319 12021 £7,693> Gift Aid rewvered. There were no restricted gifts received within the year12021- nill. TCT also generated £66,79012021 £64,140) In the year through sal8$ activity with Income from the u8e ol 115 facilities. Total Expenditu￿ in the year was £140,48112021 - £132,740). Including £14,60712021 £24.2621 on rent and service charge for Winchcombe Hou8e cffice8 and 8ervlce charge associated wllh the leasèhold of Trinity Fusion. There ￿tre no expenses against r•glricl?d funds in the year12021 The re5ulling deficit for the year wa8 £3,11512021 surplu5 - £186,271). Cumulative funds al the year-end were £834,91712021 £838,032), which includes no Carried forward restricted funds12021 nill. Al the year end, TCT owned tangible fixed assets vAth a net book value of £1,388,76012021- £1,347,140) and had nel eurrenl liabilities of £1,995 {2021 net Current liabilities- £213,645) TCT'S creditors vthich ar8 due 8fter more than one year are £551,84812021- £295,463). which repre8enlsthe balance oflhe Kingdom Bank mortgages together wlh a private unsecured interest free loan. Trinity Ch¢ltenham Trust Limited Annual Report and Accounts 2022 Trinity Cheltenham Trust Limited Annual Roport and Financial Statements for Ihe year ended 31 De¢ember 2022 TCT is registered for VAT All items shown in the fjnancial ststemenl$ are net of VAT, with a VAT debtor Df £1,897 12021 creditor - £3,027> al the year-end reprèsenting the balance of the VAT quarter ended 31 December 2022. TCT holds no stock or petty cash. Future Plans and th8 continuing impact of COv￿-19 and ￿0￿0M1C climate The purchase of 45 Portland Street significantly reduced the level of our reserves,. however, in the long-temi there will be savings on the rent previously paid lor the Winchcombe Street offices and we have gained a significant asset. The Directors are though very mindful of the urgent need lo increase income and restore the level of reserve in the short-lem. In common with other charitsble organisalions, we continue lo be impacted by the Coronavlrus pandemic, with a reduction in rental opportunities. The Trustees arg aware of the inherent uncertainties in forecasting voluntary income," however, given past performance, we believe that direct appeals lo supporters wll result In increased donations. The Directors ￿rill continue lo exercise all appropriate internal controls, reporting and general financial syglems to ensure effective financial management and lo Ilmil financial exp08ure wherever possible and 8n8ur• we can meet all obligalionB a8 a 'going concern,. Statsmfrnt of dSr•¢tor¥' r•spon8lbllltl88 The charlty tru8tees (who are also the directors of the company for the purpose8 of company lawl are responsible for preparing a trustees, annual rèport and financial stalemtrnls In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepteij Accounting Practice). Company law requires the ¢hafily Iruslees lo prepare financial statements for each year which givtr a true and fair view of the slate of affairs of the charitable company and the group and of the incoming resource8 and appllcation ol resources. includlng the Income and expendllure. of the charitable group for that perfod. In preparing the financial statements, the tru8lees are required lo.. Select 8uitab￿ accounting pollcies and then apply them consislenlly., make ludgemenls and eglimates that are reasonable and prudent., prepare the financial stslemenls on the going concern basis unless it Is Inappropriate lo presume that the company will ¢ontinue lo function", observe the method5 and principles in the Chariti08 SORP,. and slate whether applicable UK accounb'ng standards have beon followed, subject to any materi81 departures disclosed and explained in the flnanGlal $lalemenl8. The Tru8lee8 are respon8lble for keeping proper accounting records which dlgclose ￿th reasonable accuracy 81 any tirne the financlal po$Sllen of the company and enable them lo ensu￿ that the financial stalemenl$ comply with the relevant Companles Act and Charities Act. They are al80 responsible for Safeguarding the assets of the company and hence fu laklng reason8ble steps for the prevention and detection of fraud and other Irregularities. Ind•p•nd•nt gx•miners A resolution propo8Sng that Hazlewood8 LLP be re4ppolnled as Independènt examiner of TCT was passed on the 141h June 2022. IqA....Ju+*..... 2023 and signed on their beha￿bY This report was approved by the director5 on .... Mr Andrew Director ylh Direct Trini Cheltsnham Trust Limited Annual Report and Accounts 2022 Trinity Cheltenham Trust Llmited Annual Report and Financial Statements for the year ended 31 December 2022 Independ•nt examinerfs report to the Trustees on the unauditéd financial #tatsments of Trinity Ch•lt•nham Trust Llmltsd I report to the Trustees on tho financial $laternents of Trinrty Cheltenham Trust Limited for the year ended 31 December 2022. R•spoctlve rn8ponslbllltle8 and ba818 of r•port A8 the charity's tNstees ol the Company (who are alsc* the dire¢tor$ of the company for the purposes of company18wI, you are responsible for the preparalion of the accounts in accordance with the requirements of the Companies Act 2006 ('Ihe 2006 Acl'}. Having satisfied myself that the accoun18 of the Company are not requI￿¢y to be audited for thls year under Part 16 of the 20CkS Act and are eligible for Independent examination, I report in respect of my examinallon of your charty's accounts as carried out under secb.en 145 of the Charrti8$ Act 2011 {'Ihe 2011 Act.). In carrying out my examination, I have followed tho Direction8 given by the Charity Commission lunder section 14515llbl of tho 2011 Act. Indopendgnt •xamlnor'8 Statement I have completed my examination. I confirm that no materfal matters have come lo my attention givlng me cau9e lo believe that in material respect.. a¢￿Unting records wern not kept in accordance with section 386 of the Companies Act 2006., or the accounts do not accord wlth such records.. or tha accounts do not comply with relevant accounting requlremenls under 8e¢lion 396 of the Companies Ad 2006 other than any requlremenl that the accounts glve a Yrue and f8ir' view ￿1¢h li not a matter conyldered as part of an Independent examination", or the accounts have not been prepared in ac¢ord8nce with the Charilleg SORP IFRS1021. In consldertng other matters to which attenllon should be drawn. we draw your ottenllon to note 1.2 lo the financial 81aternents and the dlscb8ures made In the going concem accounllng pollcy whl¢h descrlb85 an uncertalnty relating to Ihe going concem of the Charfty. The Charlty IB dependent on donatlons and other income whi¢h ale Inheffjntly uncertaln And dlfflcull lo predid 8s the UK ea8es lockdown and enter6 the Inevltable po81 lockdown reces8ion. The fin8ncI81 st8lemenl8 do not Include any 8dju8tm8nts that would result if Ihe financiAI 8t8t&m&nl$ wère not pr•pared on 8 going conc•m basls. othe￿Se I have no concerns and have come 8cros8 no other mallers in connection with the examination lo whlch attention Should be drawn in this report In order lo enabkg a proper underslandlng of the accounts to be reached. Scott Lawrence Hazlewoods Chartered Accountants Cheltenham Dale.. 29 June ..2023 Trinity Cheltenham Trust Limited Annual Report and Accounts 2022 Trinty Ch•ltsnham Trust Llmited Annual Report and Financial Statements for Ihe year ended 31 December 2022 stat•m•nt of Flnancial Activltles 2022 2021 Income and ￿d0¥MI0n￿ from: Donations Charitable acllvitles 70.576 66,790 254.871 64.140 Total income and endowments 137.366 319011 Expendlturn on: Charitable 8CtSvllle8 140.481 132.740 Total •xp•ndlknre 140481 132,740 Nèt mov•m•nt In fund• and total funds carrl•d forward 13,115 186,271 Total funds brought forward 15 838,032 651,761 Total fund8 urrl•d forward 15 834917 838,032 All funds are unre8lricled in the current and prSor year. Contlnulng op•ratlon• InGome derlve5 wholly from eontlnulng operallon8. Total rocogn1s￿ galn• •nd10s3•3 The￿ a￿ no recogni8ed gains or10830s in the abov8 flnancial year other than Iho8e passing through th8 Statement of Financ￿1 Acb'vth'es. Th6 notes on pages 9 10 14 form an Integral part of these financial #latemenls. Trinity Cheltenham Trust Limited Annual Roport and Accounts 2022 Trinity Cheltenham Trust Limited Annual Report and Financial Ststements for the year ended 31 December 2022 Balance Sh••t as at 31 D•c•mbor 2022 2022 2022 2021 2021 Notes Fixed a889ts. Tangible assets 1,388.760 1,347,140 Curr•nt a8•0ts Debtors Cash al bank and in hand 9.055 16,193 25,248 13,635 25,769 Cr•dltorn: amounts f*lllng dug vAthln on• year 239414 Not currenl a•••ts Total ai••ts leM Gurr¢nt Ilabllltl•s 1,352,119 1.133.495 Cr•dltorn: amounts falllng duo aft•r more than one y•ar 1517,202 {295,4631 N•t a*•ets 834 917 838 032 Funds unrestr￿10d lund8 834,917 838,032 Trinity Chgltenham Trust Limited Annual Report and Accounts 2022 Trinty Cheltenham Trust Limitod Annual Report and Financial Statements for tho year ended 31 December 2022 Balance Sha•t {contlnu•dl Dir•ctors' Stat•m•nts r•quired by S•ction 475 for the yeèr ènded 31 Dgcember 2022 In approving these financi81 statements as directors ofthe company we hereby conflrm.. la) that for the period staled above the charitable company was enlilled lo the exemption conferred by Secbon 477 of the Companies Act 2006.. Ibl that no notice has been deposited at the registered office ofthe charrtable company pursuant lo Section 476 requesting that an audit be conducted for the year eNled 31 December 2022 and Ic) that we acknowledge our regpon8lbllltles for. 111 ensuring that the company keeps accounting records which cornply wllh Section 386. and 121 preparing financial slalemenls which give a true and lair vièw of the stsle of affairs of the company as al the end of the financial period and of its profil or loss for the period then ended in accordance wllh the requbremenls of Sections 394 and 395 and which olhenvi88 comply wth the provisions of the Companies Act 2006 relating to financial slalements. $0 far as 8pplic8bl8 lo the charrtable company. These financial 5talemenls are prepared In accordance ¥￿th the special prov18ion8 of Part 15 of the COmpan￿S Act 2006 relatln9 to small companies. The financial $tal•menls wère approved by thè boar¢J of d1￿ctorS on ..Lq1y....Ow￿.... 2023 and slgned on it$ behalf by.. iss Christine RobertS¢)n Oireclor The notes on pages 9 10 16 form an integral part of Ih•$e financial slatemenls. Trinity Cheltenham Trust Limited Annual Rgport and Accounts 2022 Trinlty Cheltenham Trust Llmited Annual Report and Financial Statements for Ihe year ended 31 December 2022 Notes to the Financial Statsments Accountlng pollcl8¥ 1.1. Basls of prèparntlon The finandal statements have been prepared under the hlstorical cost convention and In accordance with the Charity Statement of Recommended Pracllce 2019 fcr FRS102. The trust conststules public benefit entity as defined by FRS 102. The principal accounting policles adopted in the preparation of the financial statements are a5 follow5.. 1.2 Golng conc•m The Trustees assess whether the use of going concem is appropriate, i.e. whether there are any material uncertainties related lo events or conditions that fflay cast a significant doubt on the ability of the Chafity lo condnue as a going concern. The Trustees make this assessment in respecl of one ye8r from the dale of approval of the financial $tstement$. In making the currgnl yearfs assessment the Trustees have taken into account cash reserve¥ and available unrestricted funds al the point of approvlng the financial $talements and reviewed detailed forecasts. There are Inherent uncert8inlle8 regarding the fore¢a$ls, iuch os the extent of the impaGI of the UK recesslon on the Charity and the level$ of future in¢oming rts$ource8. However the Charlly conllnuÈ8 to be 8UPPOrted by its supporters and the Trusteey have a reagonable expectation that the Charity will havo adequate resources lo continue In operation for al least 12 months from 8pproval of these financial stal8ment8. Consequently. the Trustees h8ve conduded that it is appropriate to 8dopl the going concern ba$18 In preparing the annual stalèmtsnts. 1.3 Judg•m•nts and Mtlmltlon unc•rtalnty The Trustees make estimates and a3sumplion¥ concerning the future There are no eslimales or assumptions that have a significant risk of Causing a material adjustment to the carying amounts of assets and liabilities within the next flnancial year. 1.4 Fund• General funds represent the fvnd¥ of the charity th81 are not 8ublecl to any reslriclion8 regarding their use and are available for application on the general purpos•s of the Tru$lee8. Funds de8ignaled for particular purpose by the Tru$tee5 are also unrestricted. Restricted funds represent the funds of the charlty that can only be used for particular reslricled purposes with in the object of the charty. Re8lriction8 arise when Specified by the donor or when fvnds are raised for particular purposes. The financial statemen15 include all tran$actKins, 8$sels and liabililles for whlch the Trustees are responsible in law. They do not include the financial slalemenl$ of church groups that owe their main affiliab'on to another body nor those that are informal gatherings of chU￿h members. Trinity Cheltonham Trust Limited Annual Report and Accounts 2022 Trinty Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2022 Motss to the Financial Ststsm•nts Icontinu•dl 1.$ Income and endowments The charity Is registered for VAT. Income from use of facilities ￿preSentS the total invoice value, excluding VAT, of sales and rentals made during the year. Donadons and legacies are included in full in the statement of finanoal activities when receivable. donated for resale are included as ineome when they are sold. Donated assets a￿ included at the value lo the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not be&n included. Grants, including grants for the purchasg of fixed assets, are recognised in full in the Statement of financial activitie8 in th? year in whlch they are receivable. Income from investments is included in the yèar in which f( Is receIvab￿. EX￿n￿ltur0 Exwnses are recognised in the year In whkh they are incurred. Charftable expenditure compnses those costs incurred by the charfty in the delivery of Its actSvttles. 11 includes both costs that can be ollocAled directly lo such activities and those costs of an indlrecl nature necessary to BUFPOrt them. 1.7 Taxatlon Th• charities aclivllles fall ¥￿thIn the exemptlons afforded by th• prov58ion of the Income and Corporation Taxe¢J Act 1988, Accordingly, Ih&re is no taxation charge In Iheje financial gt8lemenls. 1.8 Capltallsatlon and d•pr•clatlon of tanglblo flM•d a8B•t• All asyets c051ing more than £1,000 ar• capltall38d. Depreciatlon 1$ provided al rates calcul8led lo write off the cost le88 r?$idual value of each 8ssel (excluding freehold landl over rts expected usefvl life, a8 lollow8'. Freehold bulldings Fixtures, fittings and equlpment Leasehold propety 50 year5 ¥lraighl line 25% slraighl line 250 years slrabghl Ilne 1.9 L••slng Rentsls p8yabl8 under operating leases are charged agaln81 income on a straight-line ba518 over the lease torm. 1.10 Trade dgbtor¥ Trade debtors ar8 amounts due from customèri for servlces perfomed In the ordlnary course of bu8lnes8. Trade debtor5 are recognised initially at the Iransacbon price. All trade debtors are repayable within one year and hence are included al the undiscounted cost of cash expected lo be rgceived. A provision fof the impairment of trade debtors is established when there Is objective eviden¢e that the company will not be able lo collect all amount8 due accordlng to the orlgin81 terms of the debtors. Trlnity Cheltenharn Trust Llmlted Annual Report and Accounts 2022 10 Trinty Cheltenham Trust Llmited Annual Report and Financial Statoments for the year endod 31 Docember 2022 Notes to th• Flnancial Statements Icontinu•dl 1.11 Tr*dè creditorn Trade creditors are obligations for pay for goods or services that have been acquired in the ordbnary coursè of business from suppliers. Accounts payable are classified as current liabilities rfthe company does not have an unconditional right, al the end of the reporting period. to defer selllementfor at least •Jelve monlhg after the reporting date, c*the￿se they are presented as non-current liabiif(les. Trade credrtors are recognised initially al the transaction price and are repayable within one year and hence are indudod al the undisu)unted amount of cash expècted lo be paid. 1.12 Flnanclal In8trum•nts Financial instruments are classified and 8ccountéd for according to the substsnce of the contractual rrangemenl. as financial assets. financial liabllitSes or equity inslrumenls, An equity Snslrumenl is any contract that evidences a residual Interest in the assets of the company after deducting all of r(s liabilities. Where shares are issued, any component that creates a financial liabilrty of the company 15 presented as a Ilability on the balance 8heet. The corresponding dividends relating to the liability omponenl are charged as interest expense8 in the profit and1088 a￿Ount. All financial assets and liabilities are Inltlally mggsured at tr8nsaction prlce Ilncluding trgn$action CO815l, except for those financial assets classified a8 al fair valuè throu9h proff( and loss. whlch are initially measured al fair value (which ig normally the transaction pri¢e excluding transacl+on Costs). unless the arrangement con81iluteB a flnancing Iransaclion. If an arrangement conslilules a financing transacbon. the financial assel or liability is measured at the pre8enl valL* of the future p8yment$ discounted al a market ral• ol Inter881 for a Slmllar debt in81rument. 1.13 Fund accountlng Fund8 held by Ihe charlty are ekher.. Unre¥lriGted fvnd¥- tho88 are fund$ %thlch can bè used in accordance wlth the charrtabl8 oWec18 al the dlsorelion of the director8, Degign81ed funds - these are lunds whlch can be u$•d in aacordano vllh the ch8rilabL* object$ al the dlscrellon of the dlrector8. Restrlcled funds - the80 are funds whSch can only ￿ used for particular re81ricled purpo$e¥ within the objects of the charty, ReStr￿tionS art8e whgn jpecified by the donor or when funds are raised for parbcular purposes. Further explanation of the nature and purpose of each fund is included in the notes to the ffinancial statements. Income from donatlons 2022 2021 Gifts and donations Income Tax recoverable and related glft aid claimed 62.257 8.319 247, 178 7,693 Trinity Chgltenham Trust Limited Annual Report and Accounts 2022 Trinity Cheltenham Trust Limited Annual Report and Flnancial Statements for the yoar ended 31 December 2022 Molos to th8 Flnan¢lal Statements l¢ontinuadl Incomo from charitabl8 actlvltigs Z022 2021 Income from use of facilrties other income 65,915 875 63,951 189 66,790 64.140 Analys1¥ of •xp•ndltur• on charltsbl• a¢tlvltlgS 2022 2021 Note8 Costs ol providing facllilie¥'. Dona￿On$/GI8nts Direct c0918 Support GiyJIs 4,000 67,180 69,301 74,277 58,463 140.480 132740 The charitable activities ￿late to the provislon of Trinity Hou8e, Fusion, WlnGhwmbè Hou80 and Porfand House lo The Parochi81 Church Councll of the Eccleslasllcal Parish of Holy Trinity, Chellenham In support of tholr Ghorllable oblectlve8. Actbvltl•• und•rtak•n dlr•ctly: Dlr•ct colts 2022 2021 Premi8e8 expen8e8 Rent, rale8 and ulllllies Equipm&nt purchases Insurance Repairs and renewsls 21,865 37,317 429 5.155 2,614 17,355 41,758 775 5,069 9,320 67,180 Support costs 2022 2021 Bank chargey Interest paid Legal and Professional fees Other general & admin expenses Depreciation Independent examinath.on fees 113 25,246 11,420 6,125 23,632 2.765 118 7,406 26,891 5,839 15,477 2.732 69,301 58,463 Trfnty Cheltenham Trust Limited Annual Roport and Accounts 2022 12 Trinity Cheltenham Trust Limited Annual Report and Financial Statements forthe year ended 31 December 2022 Notss to tha Financlal Stat•m8nts (Contlnugd) St*ff c06ts The charity has no employees. The work of the charity is undertaken by volunteers and employee8 of The Parochial Church Council of the Eccle5ia5tical Parish of Holy Trinity Cheltenham on a free of charge basls. The only exception in 2022 was the recharge of botskkeeplng and management accounts servlces as professlonal fees included within support costs. Related party disclosuros None of the dlrectors received any remuneration in the year. There were no other transactions related lo the d1￿CtOrS 8nd no amounts oul$landing at the year end in relation to tran88Ctions wtth direclorg other Ih8n108n balances mentsoned above. Tanglbla flx•d Freehold land and building¥ Leasehold pr¢p•rty FIWng*, rixturos and oqulpment Tot*1 Co•t Al 1 January 2022 Addillons Di8po8al8 1,024,730 65,252 489,000 37,309 1,551,039 65,252 110,8181 110,8181 At 31 Oecembgr 2022 1,089,982 489,000 28,491 1.605,473 Dopreclatlon At 1 January 2022 Charge for the yeor DisposaL8 141,567 20,609 26,243 1,956 38,089 1,067 {10,818} 203,899 23,632 110,8181 Al 31 December 2022 162 176 218713 N•t book valuo Al 31 December 2022 927 806 480 B01 153 1 388 760 Al 1 January 2022 883 183 462 757 1347 140 10. D•btors 2022 2021 Trade Debtors Glft aid recoverable VAT debtor Prepayments and accruèd income 74 2,824 1,897 4,260 2.071 11,564 13,63S Trinity Cheltenharn Trust Limited Annual Report and A¢¢ounts 2022 Trinity Cheltenham Trust Limited Annual Report and Finaneial Statorn•nts for tho year ended 31 December 2022 Noto$ to the Flnanclal Stat*m•nts (continued) 11. CwditorB: amounts falling due within ona year 2022 2021 Bank loan Isecuredl Short term loan Trade creditors Corporate Credit Card A¢Gruals and deferred income VAT Liabilty 45,549 12,047 200,000 7,172 88 17,080 3.027 10.976 56 5,308 61,889 239,414 Du• aft•r on• yoar: 2022 2021 Bank loan Isecuredl Other long tèrm loans 12 485,702 31,500 258,963 36,500 517,202 295,463 12. Loan• •nd bofrowlng• Curr•nt lo•n¥ and l>orrowlng•: 2022 2021 Bank loan18ecuredl Short lem Ican 45,549 12,047 200,000 45,549 212,047 Non