Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2024 Reglstered Charlty No. 1128804 Company No. 06681048
Trinity Chellenham Trust Limited Annual Report and Flnancial SLaMents for the y&ar endod 31 December 2024 CONTENTS Page Dir8cth' report lThY8pendent examirw5' re¢ Statement of financial actmties Balance sh*t Notes to the finandal statements 9-16 Trinity Chaltenham Trust Limitod Annual Report and Accounts 2024
Trinity Cheltenham Trust Limited Annual Rèport and Flnancial Statements for the year ended 31 December 2024 Dlrector8' Report Reference and admlnlstratlve delalls Trinity Che118nham Trust Limited (fcT) was established in August 2008 as a Company Limlted by Guarant88 {Company Registration number C6681048). irplyatd in England & Wales. TCT is a regisl8r8d charity a5 r8cognis8d by the Chwiti8s Commigsb)n {Chartty number 11288041 and is accredited in the HMRC Glft Aid sch8m8. TCT is situated in Cheltenham, wth ts registered address St James. House, Sl James. Square, Chellenham GL60 3PR and its administratW8 aldr8ss being Trinlty Fusion. 98 Winchcombe Street, Cheltenham, GL52 2NW. This report covers the aGr3yJnts'ng period ofTCT, from 1 January 202410 31 De¢embw 2024. The Directors who serv1 during this lime were.. PerTnanent Directors Team ReGtor of Hoty T17rity Church, Ch8ttenham Rev ArKlrew Bly ChurclM8rden$ ofHoty Trinty Church, Cheffenham Elizabeth Lang Bary Lambert Ele¢ted Dlreclors Christine Robertson Nyl Jobson Gw Wamer Andrew Yapp R8-elect8d at the AGM Re-elected al the AGM Re-plected at the AGM Re-plecfed at the AGM The Dlrectors of TCT also 11 UP Sp1$t advKe in the areas of Health and Safety. Flnance and Premises Management. Tcfs Soliators, Bankers and IndepeThJent Examlners are listed telow. Solicitors Bankers Independent Examiners BPE Solrtors LLP st James. House st James, Square Cheltenham GL50 3PR National Wesfminsler Bank PLC 31 Promenade Chdtenham GLXI 1LE Nicholas J Bishop Pitt Godden & Taylor LLP Unit 3 Ambrose House Meteor Court Bamett Way Barnwood Glcmjcesler GL4 3GG ObJ¢¢tlv¢s and a¢tlvlties The aim$ and oblectNes of Trinity Chellenham Trust Limtted are as follows.. To Fwmole and advance all a$pe¢ts of the Christian frdith irKludiro. but not limited to, the promotlon of Christian beliefs through the holding of prdyer meetiros, lethres. publK celebration of religious festivals aThl pr&Juong or distributlThJ literahjre relating to Chrkstian faith lo enlighten others about the Christian faith. To FVIde and maintain community facilities for reueational or any other purposgs including leisure lime activities in the interests of sccial wdfare as the company may think fft from tin lo time. with the Trlnlty Chohanham Trust Llmlted Annual Report and Accounts 2024
Trlnlty Ch8lt8nham Trust Llmlted Annual Report and Flnanclal Statements for the yaar ended 31 Dmber 2024 object of Improving the conditions of lrfe and benefiting those persons who have need by reason of (to Include t4Jt not be limited to) thelr youth. pov or s(Kial or eMIC cirujmstances. To relieve hardship, induding financÉal hardship and to pYc¥nole and preserve g¢y)sJ health by the provisllin of foimj, fvnds supsNJrt (to indLKte advice and coun5dlingl and SLtch other assistance that the ¢ompany may think fit lo offer from time lo lime, to nefIt the homeless, aged, dlsabled, single parent familles and other persons in need. TCT Is coMMted to enabling as many people as possible to hav8 a(xess to its facilities and we maintain a pollcy of being open and IrjUS1ve for all StionS of the ojmmunity. In strtving towards this, TCT has ¢onsidered Ihe Charty Commtssloner8' whJan¢e Publ berth. Stmcture, goveman¢o and managthnent In order to malntaln the charitable obJe¢ts. Ihe Bowd of Direct8 has a minimum of seven members. Three penmanent members are the Inrnbet mlnlster of Hoty Trinity Church, Cheltenham and the eleclod Churchwardens. A minimum of four other 'ordinary members, are rM)minaled from th8 members of Holy Trinty Church ané elected at the Annual General Meeting. NevAy appointed Directors, an induction briefing is given lo ensure they aware of thr respM)nsibllltie$ in relati to both Companies House and Charlles Commission guidance and the object'ves ofTCT. A minimum of three general meetings are held through the year. Tlwe must be a quorum present to conduct any business of no less than fNe Directors enb'ued lo vote, of whom rKJt ths than thr88 musl be elected directors. The Directors may delegate certain authorities to Spec diwlors ty other persons as is felt nssary to conduct tsInesS belmen meetings and facilitste the t)rk of the Trust. Rlsk management Th8 board regularfy dis(#Jss and ass8SS the Mai risks to which the company is exposed and.consldered th8 safeguards that have been and can be implemented lo mits'gate those risks. In accordance wlth the Slal8mont ol Recommended Practice for chariti'es the Directors annudly review and update the fomial risk assessment. Achlevemgnts Throughout 2024 TCT has c#Mlinued to fccus on the ullI&0n of assets in line with our charitable objects and generating sufficient funds and donations to serve tts aims and objeclives and meet ils financial obltions, including 5king and reducing debt. The Tnjst gains an income and fijrthers its Laritsble aims through hosting actr¥ilios and provkling Space In a number of properties to oryanisalKsns wlN)se Obl11¥e$ are conguenl wilh that of TCT.. The propety known a$'Fusion' at 98WincFKombe Street Cheltenham, held on a 250 ye8r leasehold The adjoining building, known as Trinity House. al 101>102 Street Cheltellham, for whrch TCT owns the freehdd cfcT has a mortgage VAth Kiwom Bank. se¢ured against these assets). The propety known as Poruand Hou8e at45 Poruand Street forwhth TCT owns th8 freehokl (TGT has a separate mortgage with Kingdom BanK secured alst thi5 ass811 Durlng 2024 the Trusys properties were used by: The Parothial Church Counol of Trinity Church Chdtenham. under a non-exdusive Iicgnse. throughout the week in all the Trust's proFerties to t a wde range of groups arKI aclwilios promoting the Christian faith and to provide a range of community services including offering practical help, alfv and services to the local community. homele58 aThJ socially excluded. Trinity Cheltgnham Trust Limited Annual Report and Accounts 2024
Trinity Cheltenham Trust Limited Annual Report and Financial Statements for tho year endod 31 D&cemb&r 2024 The Armoury Communty gym - run in the Fusion lIdIng - in partnership with local Cheltenham charity, Fresh Hope to promote physical and mentd health and well-being. SPEAR- running in TnIty House- offering advice, training and praclKal support for a nationally acclaimed programme proding training suptxt for 1&24 year olds not in Education, Employment or Training. A range of on&off rJ)mmunty and social wefiare thiti85 and events organised by local groups. In 2023 the Trust undertook a fundraising CaMpaJn which enabled urgent repairs to a dangerous extemal wall and repaws to the main heating system. The remairEd of the funds raised was used In 2024 to repair The Garage roof as well as other rnirr buildiThJ repairs and maintenance. Flnanclal rgvlow Total income in the yearwas £155,668 (2023- £186,149). The main sour( of income was from charitable gifts or donation$. which lotalled £60,652 {2023 - £110,639}- This figure was inclusive of £8.881 12023 - £13,[0) Gtft re¢ov¢red. There were no restrthd gifts received vrithin the y&ar12023- nill. TCT also generated £77,06912023 - £75,510) in the year through sales activity with income from the use of its facilities. Total Expendhure In the year was £17S.445 (2023 - £158.117). induding £3.927 {2023 - £3,402) on the seNl¢e ¢harge as$o¢lated wlth Ihe leasehokl ofTrinty FusH)n. There were no expenses agalnsl restrlcled fijnds In the year {21)23- nil). The resulting deficit for the year was £19.777 {2023 surptus - £28.032). CumulalNe funds at the yearryend We £843,17212023- £862.949), whh indudes no carrbj forward reslricled fvnds12023- nill. At the year end, TCT owned tawible fLxed assets wlth a net book value of £1,343,019 (2023- £1.365,3521 and had net rrent liabile8 of £16,580 (2023-£5.200) TCTS c¥editors which are due after more than one year are £483,267 {2023 - £497.203), which represents the balance of the 'ngdoM Bank mortgag8s together with a private unsecured interest free k)an. TCT is registered for VAT. Al items shown in the finan(aal stalements a net of VAT. with a VAT debtor of £1,171 {2023 debtor - £2,358) at the yearThJ rewnting the balance of th& VAT quarter ended 31 December 2024. TCT hdds no stock or Wty cash. FutuTr Plans The Directors are eased to note the availabilNy of slgnffi¢ant fvnds durtng Ihe course of the year towards energy effi¢len¢y upgrades lo the tNJlI dings, namdy Trinity House and Fusion. This will cover. CaVY wall insulation. Ilghling upgrades lo LED and PIR motion sensors and installation of solar PV panels. By the end of 2024 the Ilghling upgrade had ¢ommen¢ed. yth the remainder of the work scheduled lo b8 completed by mid-FebnJary 2025. The Trustees are awe of Ihe Inherenl uncertainties in forecasting voluntary incomo., h)weV, the Trust has demonstrated abilty to irKrease donations through direct appeals to supwrters. The Directors will continue to exercise all appropriate internal controls. reporting and general finandal systems to ensure effective financial management and lo limit finalla1 eX)SUre wherever possible and ensure we can meet all obligations as a'going concern,. The Directors did note and follow up on som8 delays In receiving license payments from the PCC of Trinity cheenhaffl during the latter part of the year. An agreement is now in place for the outstanding sum to be paid. Trinity Cheltenham Trust Llmlted Annual Rewt and Accounts 2024
Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2024 Reserves policy TCT does not intend lo build up subslanlial operational reserves. To minimise the risk of being unable lo meet all ils financial obligations as they fall due, focusing on the need to pay long term liabilities, TCT Tnanages ils cash flow so that there is usually al least sufficient cash flow reserves to pay the next three months expenses. TCT does not employ any staff. Statemènt of directors. responsibilities The charity Iruslees (who are also the directors of the company for the purposes of company lawl are responsible for preparing a trustees, annual report and financial slalemenls in accordance with applicable law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity Iruslees lo propare financial slalemenls for each year which give a Inje and fair view of the slate of affairs of the charitable company and the group and of the incoming resources and application of resources, including the incorne and expenditure. of the charitable group for that period. In preparing the financial slatemenls, the Iruslees are required lo.. select suitable accounting policies and then apply them consislenlly., make judgements and eslimales that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the company will continue lo function,. observe the methods and principles in the Charities SORP,. and slate 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 al any lime the financial position of the Company and enable them lo ensure that the financial slalements 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. This report was approved by the directors on . 414 j<*•<..... 2025 and signed on their behalf by Mr Nig Direct Mrs Eliza Director Trinity Cheltenham Trust Limited Annual Report and Accounts 2024
Trinity Cheltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2024 Independent examiner's report to the Trustees on the unauditod financial statements of Trinity Cheltenham Trust Limited I report lo the Trustees on my examination of the financial slalemenls of Trinity Chellenham Trust Limited for the year ended 31 December 2024. Respectivè rèsponsibilities and basls of report As the charity's Iruslees of the Company (who are also the directors of the company for the purposes of company lawl, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061.the 2006 Act.). Having satisfi'ed myself that the accounts of the Company are not required lo be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act"). In carrying out my examination, I have followed the Directions given by the Charity Commission {LJnder section 145(5llbl of the 2011 Act. Independent examlner's statement I have compleleé my exarninalion. I confirm that no material matters have come lo my attention giving me cause lo 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 maller considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Slalement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial reporting Standard applicable in the UK and Republic of Ireland IFRS1021. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial statements lo be reached. Nicholas J Bishop Pitt Godden & Taylor LLP Date.. 09-06 ..2025 Trinity Cheltenham Trust Limiled Annual Report and Accounts 2024
Trlnlty Cheltenham Trust Limited Annual Report and Financial Statemonts for the year ended 31 Decèmbar 2024 Statement of FInancI Actlvltles for the year gndod 31 Dgcombgr 2024 Indudlng Ineomè and ¢xp¢nditure account 2024 2023 Note Income and endowments from: Donations Grant Income Investment Incom8 Charitab18 activiti8S 60.652 17.942 110,639 75,510 Total Income and loWMants 155.668 Expenditur• on- Charitable activities 175,445 158.117 Total ¢xpendlture 158,117 Net movement in funds and total funds rIed forward (19,777) 28.032 Total funds Lyought fcKward 15 862.949 834,917 Total funds carried forward 15 843.172 862,949 There are no recognised gains or losses in the above finarla1 year other ihan those passing through the sta18m8nl of Financial Activities. The noles on pages 9 to 16 fomi an Integral part of these financial statements. Trinity Cheltenham Trust Lirnited Annual Report and Accounts 2024
Trinty Choltenham Trust Limited Annual Report and Financial Statements for the year ended 31 December 2024 Balancg Sheot as at 31 Decembor 2024 21Y24 2024 2023 2023 Notes Flxad asset8. Tanglble assets 1.343.019 1.365,352 Current a88ets Debloryd Cash at bank and in hand 10 31.269 24.992 56,261 5,785 55.290 Credltors: amounts falllng duo wlthln one year 72.841 60.490 Not current ass¢ts 16.580 5,200 Totsl assats less curront Ilabllttlos 1.326,439 1,360,152 Craditors.. amounts falling dua aftor morg than ong year 11 (483,267) (497.203) Net ass8ts 843,172 Funds Unrestricted funds 15 843,172 862,949 Trlnity Cheltenham Trust Umlt8d Annual Report and Accounts 2024
Trinity Cheltenham Trust Limited Annual Report and Financial Statemènts for the year ended 31 December 2024 Balance Sheet {continued) The company is enlilled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 December 2024. The directors acknowledge their responsibilities for complying with the requifftmenls of the Companies Act 2006 with respect lo accounting records and the preparation of financial ststemenls. The members have not required the company lo obtain an audit of its financial slalemenls for the year in question in accordance with section 476. These financial slalements have been prepared in accordance with the provisions applicable to companies subject lo the small companies regime. The financial slalernenls were approved by the Directors on 2025 Miss Christine Robertson Director The notes on pages 9 to 16 form an integral part of these financial slatemenls. Trinity Cheltenham Trust Limited Annual Report and Accounts 2024
Trinlty Cheltenham Trust Llmltad Annual Report and Financlal Statements for the year endéd 31 December 2024 Notes to the Flnanclal Statements A¢countlng pollclas Charlty Infomjatlon Trinity Ch81tenham Trust Ltd K% a 1Vate ¢ompany limibj by guarantee inccffpora18d In ErvJland and Wales Basls of proparatlon The finartlal stal8ments hav8 been prepared in CdarKe wttt) the trust's goveming document, the Companies Act 2CX)6, FRS 102 Tr Fina1 Reporting Standard apFAKable in the UK and Republic of Ireland. (°FRS 102") and the CharitM SORP "AccountityJ and Reporting by Charities.. Statement of Recornmended Pr&tw appluble lo Char@S preparing their a¢counls in accordance with the Financial Reporting Standard 8pr4ble in th8 UK and Republ of Ireland IFRS 102). leff8Ctive 1 January 2019). The trust 1$ a Public Beneffl Entity as defined by FRS 102. Tre trust has taken advaniage ofthe F)rovisions in ts SORP for charities not to prepare statement of Cash Flows. The ffn8ncial statements are preped in sterllrKJ. whkh is the functKnal oJrrenGy of the trust. Monetary amounts in these financial statements ar8 rounded to the nearosl £. The financial statements have been prepared under Ihe historical cost ¢onvention. The principal accounliThJ polides adopted ar8 set wt below. 12 Golng concern Al the time of approving the financial statements. the directovs have a reasonable expectstlon that the charity has adequate resources to continue in operattonal existence for the forose8able future. Thus. the directors Continue to adoptthe golw o)rwn basis of accounting in preparing the financial slalements. 1.3 Judgements and est1mati( un¢ertalnty The Trusle&s make estimates and assumptions ca)nnIng future. The we no Bstimales or assumplons that have a signMcanl risk of causiro a materi81 adjustment to the carying amounts of assels and liabiliti8s wlthin the next financkal year. 1.4 Funds General funds represent the funds of the charity that are not subject lo any resM¢tlon$ regardlng their use and are available for apICatiOn on the gerrnI purposes of the Trustees. Funds designated for particular purpose by the Trustees aro also UnreStTkt. Restricted fijnds reFwenl Ihe funds of the charity that can On be used for particular restricled purw>ses with in the object of the chafity. RestrrctKins arise when Scled by the donor or when funds are rai8ed for Parlar purposes. The financial statements IrKlude all tranSlons, assets and Ikqbilities for which the Trustees are responsible in law. They do not indude the financial statements of church groups that (Y•ve th8ir maln affiliation lo another t(Jdy nor those that are irff2[ gatherirKgs of church mernb. Trfnty Cheltenham Trust Llmited Annual Report and Accounts 2024
Trinlty Cheltenham Trust Limited Annual Report and Financial Statem8nts for year ended 31 December 2024 Note8 to the FlnanGlaJ Stat8monts (ntInued) Income and gndowm¢nts The chartty is reglstered for VAT. Irme from use of faalities represents the total invoic8 value, excludirvJ VAT. of sales and rentals M18 during tha yw. Donations and legacie5 are Induded In full In the statement of finandal a¢tivltigs when retswable. Gits donated for resale are induded as ill(x) when they are sold. Donated assets are included at the value lo the charity where this can be quantrfied and a third party is bearing the cost. The value of services prOved by volunteers has not boon induded. Grants, induding grarrts for the purc*ase of fixa assets. ar& rec¥)gnlsed in full In Ihe Statement of fin8ndal activities in the year in which they are r&xivatle. Income from Investments is induded in the year in which it k5 receivable. 1,6 Exp8ndlture Expenditure is recognised once there i8 a legal or constructive obligation to transfer econom benefit lo a third party, it is wob8ble that a transfer of ecOrKmn benefits I11 b8 requlred in setUemenl, and the amount of the obfNJation can b8 measurwj rlab. 1.7 Taxatlon The charities activities fall wh1n the exemptions afforded by Ihe provision of the Income and Corporation Taxed Act 1988. AccordiThJty, there is taxation charge in these financial slalemenls. 1.8 Capltalisatlon and depreclatlon of tanglble flxed assets Ail assets costing m(Ke than £1,(MXI are capitaiised. Depreciation Is 0vIded at rates cathlaled to write off the cost ths residual value of each asset (exduding freehold land) over its expthj useful lrfe, as folk)ws: Fr881Tr)Id building5 Fixtures, fittings and equiprnent Leasehold property - 50 years strabht11 - 25% stravJht line - 250 years straight line 1.9 LsIng Rentsls payatAe urvler operating leases are (awged against I)me on a straight4ine basis over the lease lefm. 1.10 Trade debtors Trade d8btors are amounts due from ujstomers Servi wfornd in the ordinary course of business. Trade debtors are recognised initsally al the transaction prKe. All trdde debtots are repayable within one year and hence are induded at the undiscounted cost of cash eXpted lo be received. A provision for the Impalrnient of trade debtors is established when there objective evidence Ihal the company wll not be able to collect al amounts due ac(xJrding to the original iemis of the debtors. 10 Trinlty Cheltonham Trust Llmlted Annual Report and Accounts 2024
Trlnlty Chettenham Trust Llmhed Annual Report and Financial Statements for tho year endod 31 Decembor 2024 Notes to th¢ Flnanclal Slatements {contlnued) 1.11 Trade crgditors Trade creditors are obligations for pay for goods seNces that have been acoulred in the ordinary course of business from suppliers. ACCNts payableare dasslfied as curr6nt liabilrties rfthe company dS not have an unconditional righL at the emd ofthe re)rlIng per, lo defer setuemenl for at least ve months after the reporting date. otherVSe they are Fyesenled as non-current liabilities. Trwje creditcKs are re¢ognlsed initially at the transaction price and are repayable wthin one year and hen are induded al the undls¢ounled am(nI of sh exFthd lo b8 paid. 1.12 Flnanclal instruments The trust has elected lo ap the provisions of Stion 11 'Basi¢ Financial Instruments. and Sectlon 12 '0ther Financial InstNmenls Issues, of FRS 102 to all of its financial instNm8nls. Fiftancial instruments a rewised in th8 trusfs balance sheet whew) the trusl becomes party lo Ihe o)nlraclual provtsions of Ihe InstrumenL Flnanclal assets and liabillties are offset, with the net amounts presented in the financral statements, wh8n thore is a legally enforceable right to set off the recognised amounts 8nd there is an intention lo settle on a net basis or to redise the asset and setue the liabli ity simultaneously. Basic financial assets Bas financlal assets. Wh include debllxs and (ash and bank b8[arS, are initialty measur8d al transaction price including trans8CtM)n cx)sis and are subsequently Ca1 at am(xiised Cost using the effective interest Met)d unless the aangernent conslthrtes a financing transacth)n. where the transaction is measured al the present value of the futurè receipts discounted at a market rate of Interest. Financi assets dassifth as receivable within one year are not a0"sed. Basic finandal liabililies Baskfinanckql liabilitses. induding credriors and bank loans are initkqlly recognised atlransactlon price unless the arrangement (x)nsttlutes a financing transaction, where the éebl instnjment is mea$ured at the present value of Ihefubjre payments dis¢thJnted at a market rale of interest. Financial liabilities classffied as payable within one year are ml amortls8d. Debt instruments we subsequenty canied at amortised (x)s( usiry the effedve Interest rate method. Trade cltOrS are obligations to pay for good$ or servkes that have been acquired in the ordinary Course of operations from Sup[er$. Amounts payatde are daSSif as Quent Itabilities rf payment is due within one year ty less. If not. they are presented as nonwcuThent liabilities. Trade credltors are recognised initialty al transacthjn and subsequently measured at amortised cost uslng th8 effective Interest methoj. DeCognItion of financial liabilitles Financial liabilities are dere(x)gnised when the tTusVs contrathal obllgatlons expire or are di8charged or cancelled. Trlnity Cheltonham Trust Llmited Annual Report and Accounts 2024
Trinty Cheftenham Trust Limited Annual Report and Flnanclal Stat8ments for the year ended 31 December 2024 Notgs to tho Flnancld Statements {contlnued) 1,13 Fund accountlng Funds held by the charity aro either. Unrestrlcted funds- these are fijnds which can b8 used in acciydan¢e wilh the ¢hwilable objects al the discretion of the dirtOrS. Designated ftjnds - these are fvnds vthich can bo used in accordance with the charitable oble¢ts al the discretion of the directors. Re8tricted funds - these are funds which can only be used for particular restricted purposes within the objects of the charity. Restricti'ons arise %thn by the donor or when funds are ralsed for particular purkTh)ses. Further 8xplanalion of the naiure and purpos8 of each fuThJ is Induded in the notes lo Ihe finanGial slatemenls. Income from donatlons 2024 2023 Glfts and donations Income Tax recoverable and rdated gift aid daimed S1.771 8.881 97,579 13,060 60.652 Income from charltable actlvltle5 2024 2023 Income from use of flIreS Other income 77,069 75,510 77,069 75.510 Anatysls of expenditure on charltable adlvlttes 2024 2023 Costs of providirvJ knlities: Donalions/Grants DireGI wsts Support costs 7.472 70,576 80,069 98,781 76,664 175,445 158.117 The charitable activities relate to the Fxovision of TrinY House. Fusion, Winchcombe House and Portfand House to Th8 paroch Church COU1[ of the Eccleslasllcal Parish of Holy Trinty, Cheltenham in supwt of their charitable oty'tives. 12 Trfnity Cheltenham Trust Llmited Annual Report and Accounts 2024
Trfntty Chettenham Trust Limited Annual Report and FinanGial Statements for the year ended 31 December 2024 Notes to th8 FInancI Stat•ments (continued) Activitles undertakon dlrecdy: Dlr8ct costs 2024 2023 Premises expenses Rent, rates and utilities Equipment purchases Insurance Repairs and noW$ 21.182 26, 3,371 4,599 43,063 18,670 21,271 1,880 4,471 26,284 98,781 70.576 Support Gosts 2024 2023 Bank charges Interest paid Legal and Professional fees Other general & admin expenses Depreciation Independent examInatn fees 58 39,239 9.725 5,744 23,408 1,895 40.619 4,249 6,878 23,499 Staff costs The chajity has no emptoyees. Th work of the charity k8 undertaken by volunteers ar)d employees of The Parochial Churth Couwil of the Ecclesiastul Parish of HolyTrinlty Cheltenham. the recharge of bookkeeping and rnanagnent accounts SerVeS as professK)nal fees Is Sn¢luded support costs. the cost for the year was £3.60012023- £3.eA)O) Rglated party dlsclosures None of the dir)r5 any remuneration in the yw. During the year under review ts charity charged The Parochid Church Council ofthe Ecclesiastical Parish of the Hdy Trinty Cheltenham, a charity with common Iruslees, for resources that were supplied during the year. Chge5 during the year amounted lo £86,65312023'. £86.653}. At th6 end of 31 December 2023 there £21,663 outstanding {2023.- nil}. thjring a prior year the charity received a loan from Kingdom Power TrusL a charty wth a Common trustee, Mr Andrew Blyth. No interest is currenly be Cha on this loan. There was a balance of £22.CMXI oulstandirvJ as at the 31 December 2024. 13 Trlnlty Cheltonham Trust Llmlted Annual Report and Accounts 2024
Trinity Cheltenham Trust Llmlted Annual Report and Flnancial Statements for the year endod 31 Docember 2024 Notes to the Flnanclal Statemants (¢ontlnued) Tanglblg fix¢d ass¢ts Freehold land and buildlngs Leasohold property Flttlngs, flxtures and •qulpment Total Cost At 1 January 2024 Additions Disposals 1,089.982 26,491 1.166 1,605,473 1.166 Al 31 December 2024 1,089,982 489.000 27,657 1,606.639 Depreclatlon At 1 January 2024 Charge for the year 018posals 183,475 21,300 30.155 1.956 26,491 243 240,121 23,499 Al 31 December 2024 204,775 32.111 26.734 263,620 Net book value Al 310ecember 2024 885,207 923 1343 019 At 1 January 2024 )6.507 458,845 1,365,352 10. Debtors 2024 2023 Trdde Debtors Gift aid re(x)verable VAT debtor Prepayments and 1me 21.903 3,674 1,171 4,521 48 1,346 4,391 31.269 5.785 14 Trlnty Cheltenham Trust Limlted Annual Report and Accounts 2024
Trlnlty Choltonham Trust Limited Annual Roport and Financial Statemgnts for the year ended 31 Decembèr 2024 Notes to the Flnancial Slatemgnts (contlnugd) 11. Crgditors: amounts falllng duo wlthln one year 2024 2023 Bank loan (secured) Short term loan Trade creditiKs Corp(Kale Credit Caré Accnjals and defetryl Irmme VAT Liability 12 47,605 48.245 19,883 77 5,276 5,962 75 3,850 2.358 72,841 Due after ono yoar. 2024 2023 Bank loan (secured) Olhw long term loans 12 461.267 22.000 472,203 31,500 483,267 497,203 12. Loans and borrowlng8 Curr8nt loans and borrowlngs: 2024 2023 Bank loan18ecur&l) Short lerni loan 47,605 48.254 47,605 48.254 Nonacurr8nt loans and borrowings: 2024 2023 Bank loan (secured) Other long term loans 461,267 22,0 472,203 31,500 483.267 497,203 The bank loan L8 seojred against the protieS held by the Company. 13. Derred Income 2024 2023 Balan as at 1 January 2024 ReceNed in the year Amount released in the year Bdance as al 31 December 2024 15 Trinity Chettenham Trust Limited Annual Rèport and Accounts 2024
Trinity Cheltenham Trust Limited Annual Rep¢)rt and Financial Statements for the year ended 31 Decembor 2024 Notes to tho Flnanclal Stat8monts {contlnu8d} 14. Company status The members of the (x)mpany are the direGlors named in the directors. rep¢)rt. In the event of the charity being wound up, the Ikqbility in respect of the guarantee is limited to £10 per member of th8 charity. 15. statement of movement In reseN8s Funds Balance al 1 January 2024 Movement in the year 862,949 (19,777) Balance al 31 December 2024 16. Oporallng l¢as¢ ¢ommilm¢nts At the reporting end dale, Ihe company had cAJtstandiThJ commitments for fijiure minimum lease payments under non-cancdlatAe operating SeS of £3,028 (2023: £3.9651 16 Trinity Chenenham Tntst Limited Annual Report and Accounts 2024