BERNARD'S ACRE IA company limit￿ by guaMrte•l UNAUDITED FINANCIAL sfATEMENTS YEAR TO 31sf DECEMBER 2021 BERNARD'S ACRE UNAUDrrED FINANCIAL STATEMEKrs YEAR TO 31ST DECEMBER 2021 CoMrEP￿s Page Legal and Administrative Infomiation Trustees. Annual Report including Directors. Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 14 BERNARD'S ACRE LEGAL AND ADMINISTRATIVE INFORMATION YEAR TO 316T DECEMBER 2021 CHARrtY NAME Bemard's Acre REGISTERED CHARrrY NUMBER 1131269 REGISTERED COMPANY NUMBER 6932120 REGISTERED ADDRESS 15 Southemhay East Exeter Devon EXI 1QE TrUSTEES MrA Heron Ichaimanl Mr C Eggins Mr P Hav￿$ Mrs R Heron l Mathieson Mr P Sowden Mrs R Sowden INDEPENDENT EXAMINER Mr M B J Cronin MAAT FaE Bowhill Bookkeeping Services 172 Newman Road Exeter EX41PQ BERNAR￿s ACRE TRUSTEES. ANNUAL REPOFrr INCLUDING DIRECTORS. REPORT FOR THE YEAR TO 31￿ DECEMBER 2021 The trustees. vtho are also Directors of the tharity for the purposes of the Companies Act 2006, present their report with the finaneial ststements of the charity for the year ended 31# December 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 9 and 10 and the charitable companies. Memorandum and Articles of Assoeiation. STRUCTURE. GOVERNANCE AND MANAGEMEhrr Goveming Document The organis8tion is a charitsble company limited by guarantee, in¢orporated on IY June 2009 and registered as a charity on 21st August 2009. The company was established under a Memorandum of Association which established the objectives and powers of the charit8ble company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. Dirortors The names of persons who are directors forthe purpose of company18W and trustees for ihe purpose of charity law. who seryed during the year and up to the date of this report, are set out on page 1. Rocrultmont and Appointmont of Dlrertors The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the directors are elecled to serve for a period of three years after which they must be rtrelected at the next Annual General Meeting. The directors are also members of the company and the company has no members who are not directors. therefore the Annual General Meeting was deemed to have taken place as part of the meeting of the dIre￿or$ at which the Accounts were presented for approval. All directorsftrustees give their time voluntarily and received no benefits from the charity. Trustee Indurtlon and Training No new trustees were appointed during the year. All trustees have visited Bemard's Acre and volunteer in practical ways. Additionally. trustees familiarise themselves with the ¢harity and the context within which it operates, including: The obligations of members The main documents which * OLrt the operational frameworkfor the charity including the Memorandum and Articles Resourcing and the current financial position Future plans and objectives Risk Management The directors have reviewed the major riskstowhichthecharity is exposed. Where appropriate. systems or procedures have been established to mitigate the risks the charity faces. Oryanisational Stru¢turo Bernard's Acre has a board of dire¢tors bvho meet biannually lor more as required) and are responsible for the strategic direction and policy of the charity. At present the board has seven members from a variety of prof￿as4Onal bockgrounds relevant lo the work of the charity. During the year. Rosemary Sowden was ￿SPOnsible for day to day administration ol property bookings. administration and finance. Paul Sowden was responsible for property matters. BERNARD'S ACRE TRUSTEES. ANNUAL REPORT INCLUDING DIRECTORS. REPORT FOR THE YEAR TO 31st DECEMBER 2021 OBJECTS AND AcnvmES Purposes and Aims Our charity's purposes as set out in the objects contained in the CoMpan￿S memorandum of association are- lal The promotion of the Evangelical Christi8n F8ith and in furtherance of this objert to provide a Christian Centre- and Ibl The furtherance of such other charitable purposes as the charity shall determine. The aims of our eharity are to promote the evangelical Christian faith by providing premises for use by chureh affiliated and other groups that respect our values. These prernises are known as Bernard's Acre and are located at Belstone, Okehampton. Devon. We are an inclusive Christian charity. Everyone is welcome to use our facilities. whether they are a person of faith or not. The charity is a successor body to the unincorporated charilable trust known as The Bernard's Acre Trust established by deed executed on 10 January 1981. On 1 October 2009, the Trust Iransferred the freehold property at Bernard's A¢￿ and its entire net assets to the charity. The charity commenced the activities previously undertaken by the Trust on 1 October 2009. In 5th June 2017 Bernard's Acre Trust was linked to the Trust by the Charity Commission. Ensuring our Work DolivoTS Our Aims When reviewing our aims this year the Trustees have considered the Charity Commission's published guidance on public benefit. The aim of our charity is to provide comfortable, affordable. accessible aeeommodation for use by farnilies. church affiliated groups and other groups that resect our values. We review our aims. objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the period. the success of the key activities and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim. objectives and activities remain focused on our staled purposes. We confirm we have given due consideration to the Charity Commission's published guidance on the public benefit requirement under the Charities Act 2011. when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. The Focus of our Work Our main objeetives for the period were to promote the evangelical Christian faith. We meet these objectives by letting out the premises at Bernard's Acre to chureh affiliated and other Christian groups and individuals. How our Activlties Dellver Public Benefft Our main activities and who we try to help are described below. All our ch8ritable activities focu$ on the promotion of the evangelical faith by the provision of suitable premises for hire and are undertaken to further our charitable purposes for the public benefit. BERNARD'S ACRE TRUSTEES. ANNUAL REPORT INCLUDING DIREcfoRS' REPORT FOR THE YEAR TO 31ST DECEMBER 2021 ACHIEVEMENTS AND PERFORMANCE Who used and benefrtgd from our Services Bernard's Acre was requiredto closefrom Januaryto 27 May2021. Whilst it was open, the Covid regulations in force made it impossible to let to our normal groups of unrelated members until the limitations were lifted during July. However. despite the restrictions we were able to let to a number of family groups during the restricted period for a redueed rate. The hire the property went ahead for short term stays oftypically between 1 and 5 days duration with numbers largely limited to 6 or single households depending upon the regulations in force at the time. Since the end of July lettings continued as booked with no further limitations. The impact of our work goe8 far beyond ihe individuals who stay at Bernard's Acre. Our work also benefits the churches. families and communities to which they belong with additional income generated by letting to families and groups for holidays during the periods when the centre would otherwise be vacant. In November 2021 we were able to appoini ourfirsl member of staff - a part time caretaker. FINANCIAL REVIEW The charitable company made an operating surplus in the year of £24,796. 12020 - deficit £35.6271. Total income increased by just under 2% compared to the previous year. Lettings income showed a significant increase compared to 2020 due to the fact that the centre was open for longer as the Covid 19 pandemic had eased. Considerable grants and donations had been received in 2020 for the refurbishment of the c&ntre and these therefore showed a decrease compared to 2020. Total expenditure showed a 68% decrease on the previous year with much less costs incurred for the refurbishment of the centre. The charitable comp8nW$ funds totalled £392J88 at the year-end with net current assets totalling £64.549. Prineipal Funding Sources The principal funding sources for the charity over this year were the letting of Bernard's Acre and donations from supporters. In addition. we received Government grants given to hospitality venues forced to close from January to May. Investment Policy Aside from retaining a prudent amount in reserves each year most of the charity's funds 8r8 to be spent in the short term $0 there are no funds for long term investment. BERNARD'S ACRE TRUSTEES. ANNUAL REPORT INCLUDING DIRECTORS. REPORT FOR THE YEAR TO 31sr DECEMBER 2021 RESERVES POLICY The directors have examined the charity's requirements for reserves in light of the main risks to the organisation which would include a significant reduction in lettings income and the liabilities associated with ernployment of staff. In addition. there are still some for capital expenditure items including maintenance of the older areas of roofing not replaced in the recent refurbishments and the septic tank installation requiring attention. It has therefore decided not to substantially ehange the established a poliry to hold at least 6 months of unrestricted expenditure. At the year-end reserves totalled £ 64.549 which more than meets with this poli￿. Budgets for the coming year forecast a net operating profit of £ 12.623 of which it is proposed at least £10,000 would be earm8rked for repayment of the mortgage capital. In addition it has been decided to allocate the sum of £20,000 from this years. surplus to meet the requirement for replacement of the septic tank with a sewage treatment plant since the year end for these accounts. Plans for Future Periods The charity has a full booking diary for 2022. Post pandemic activity by the groups that use Bernard's Acre are expected to increase the letling income as the restriclions have been lifted and the property is no longer closed during the winter months now the upgrade has been completed. STATEMENT OF TRUSTEE'S RESPONSIBiullES The trustees (who are also the directors of Bernard's Acre) are responsible for preparing the annual report and Ihe accounts in accordance wtth applicable law and regulations. Company law requires the directors to prepare financial stalements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law the directors must not approve the financial statements unless they are satisfied Ihat they give a true and fair view of the state of affairs of the charitable company for that period. In preparing these financial statements. the directors are required to- select suitable accounting policies and then apply them consistently- obseNe the methods and principles in the Charities SORP: make judgements and e￿IMateSthat are reasonable and prudent: and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The directors are responsible for keeping adequate accounting records that 8re sufficient to show and explain the company's transactions and disclose with reasonable accuracy al any time the financial position of the charitable company and to enable them to ensure that the finaneial statements complv with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report, which has been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. was approved by the trustee$ on 16th June 2022 and signed on their be 81f by: Allstalr Heron. C INDEPENDEMf EXAMINER'S REPORT TO THE TRUSTEES OF BERNARD'S ACRE I report on the accounts of the companyfortheyear to 311t December 2021 which are set out on pages 7 to 14. Rosponsibilities and basls of report As the charity's trustees of the Company land also its directors forthe 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'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charitVs accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examinerfs statsment I have completed my examination. l confirm that no matters have come to my attention in connection with the examination giving me cause to believe- accounting records were not kept in respect of the Company as required by section 386 of the 2006 act. or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by chartties (applicable to charitses preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and I have come across no other matters in conneetion with the examination to which attention should be drawn in this report in order to enable a propel understanding of the accounts to be reached. Mr M Cry>nin MAAT FCIE Bowhill Bookkeeping SeThi 172 Newman Road Exetor EX4 1PQ I b[ (4 2 BERNARIYS ACRE &4LANCE SHEEr AS AT 31* DECEMBER 2021 At 31•t At 31st D￿eMber 2020 2021 FIXED ASSErs: Tangible assets 419 424,934 cuRREp￿ ASSErs: Debtors Cash at bank and in hand 4,811 45.f￿3 71.079 73303 50,414 LIABILITIES: Creditors.. Amounts falling due within one year 18.754) 17.7561 NEf CURRENf ASSErs 42,658 TOTAL ASSEfs LESS CURREMf UABILMES 467.592 Creditors: Amounts falling due after one year Igoooi 1100,0001 TOTAL NET ASSETS 392288 367,592 THE FUNDS OF THE CHARrrY: Unrestricted Funds Revaluation Reserve 142388 250.000 117,592 250,000 TOTAL CHARtrY FUNDS 39U88 367,592 For the year ending 31st December 2021. the charitsble company was entttled to exemption from audit ur7der sertion 477 of the Companies Act 2006 relating to small companies. The notes on pages ￿14f0M7 an integral partofthese accounts. Rosponsibilitios of trustO0S lal The members have not required the ch8rttable company to obtain an audit of tts accounts for the year in question in accordance with section 476 of the Companies Act. Ibl The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime and with the Financial Reporting Standard 102 and were approved by the trustees o 1￿ June 20￿ and signed on their behalf by.. Alistair Haro air of Trustees BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENrs YEAR TO 31ST DECEMBER 2021 ACCOUPrnNG POUCIES al Basis of Accounting The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in aceordance with the Statement of Recommended Practi￿.. Accounting and Reporting by Charities preparing their aecounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Iseeond edition- October 20191 (effective 1 January 20191 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. The financial ststements have also been prepared with the Charities Act 2011 and the small Companies regime Isection 419121 of the Companies Act 2C￿6. Bernard's Acre meets the definition of a public benefit entity under FRS 102. bl Tangible Fixed Assets The freehold property is stated at estimated market value and is noi depreciated. Equipment costing more than £750 is capitslised and depreciated at 15% on a straight line basis. ¢1 Dabtors arKI Prgpayments The gift aid debtor is recognised and included as income when there is a valid declar8tion from the donor. Prepayments are valued at the amount prepaid net of any trade discounts due. d) Cash at bank Cash 8t bank includes short term highly liquid investments wtth a short maturity of three months or less from the d8te of acquisition or opening of the deposit or similar aceount. è) Creditors Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of fundsto a third party and the amount due to settle the obligation Can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. fl Delorred In￿me The eharity has included in creditors lettings deposits received in advance as deferred income. The following table shows the movement in the deferred income account. Balance 8rought Forward Deposits received in advance in the year Deposwts paid from previous year 2.700 6.429 12.7001 6219 15.7731 Balance Carried Forward 6375 6A29 BERNARIYS ACRE NOTES TO THE RNANCIAL STATEMENTS YEAR TO 31ST DECEMBER 2021 AccouKllNG POUCIES l¢ontlnued) Income All income is included in the Statement of Financial Activities when the charity is legally entitled to the income, receipt is probable and the amount can be quantified with reasonable accuracv. Grants and donations are recognised when received by or on behalf of the charity. Gift aid tax refvnds are recognised on a receivable basis. Government grarrts are recognised when the charity is entitled to the grant, receipt is probable and the amount can be measured reliably. Income from ¢harit8ble letting 18 accounted for when eamed. Investment income is included when receivable. h) Exp•nditurv Expenditure is included on an accruals basis. Charitable expenditure are costs incurred by the charity in the delivery of its activities and services for its beneficiaries. The Funds of th8 Charity Funds held by the charity are- Unrestricted Funds These are funds that are not subject to any restrictions regarding iheir use and are available for application within the charitable objects for the general purposes of the charity. nan¢io1 In5trumants The charity only has financial assets and liabilities of a kind that qualify as basic fin8ncial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. kl Golng concern The trustees consider there are no material uncertainties about the eharity's ability to continue a8 a going concern. LEGAL STATUS OF THE CHARfTY The charity is a company limrted by guarantee and has no share capttal. The liability of each member in the event of winding up is limtted to £10. The charitable company is UK b8sed and its registered address is.. 15. Southernhay East. Exeter. EX1 1QE. 10 BERNARD'S ACRE NOTES TO ThE RNANCIAL sTATEmE￿s YEAR TO 315F DECEMBER 2021 TAXATION As a charitable company, Bem8rd's Acre 1$ exemptfrom tax on income and gains falling within sections 466 to 493 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to tts charitable purposes. No tax charges have 8risen in the charity. TANGIBLE FIXED ASSETS Freehold Proporty Fixtureslfittings & Equipment Total COSTIVALUATION At 1 January 2021 & 3111 December2021 33.969 433,969 DEPRECIATION At l January 2021 Charge for year 9,035 5.095 9,035 5.095 At 31 December 2021 14.130 14,130 NEf BOOK VALUE At 31 December 2021 19.839 419.839 At 31 December 2020 400.000 24.934 424,934 DEBTORS 2020 Other Debtors.. Gwft Other Debtors: Government Grants Other Debtors: Letting Income Other Debtors: Other Income Prepayments 250 2CH)1 552 22 1.988 211 2x113 4.811 BERNARtYS ACRE NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31ST DECEMBER 2021 CREDITORS: Amourrts falling duo Within one yoar 2020 Other Creditors Accruals and deferred income 432 8222 258 7,498 8.754 7,756 CREDrroiis.' Arnounts falling due after one year A loan of £100.000 has been offered by The Loraine Christian Tnjst wtth interest charged at 4% over a period of up to fifteen years. The hjll £100.000 of this loan had been drawn down and £8,000 repaid 8t the balance sheet date. EMPLOYMENT COSTS Totsl remuneration forthe yearamounted to £889-all gross salaries. There wag no employers. national insurance nor any employer pension payments. There were no employees with remuneration above £60.0￿. The average number of employees was 1.12020- 01 TRUSTEES, REMUNERATION AND EXPENSES No remuneration directly or indirectly out of the funds of the charitsble company is paid or is due for the year to any trustee. No reimbursement of expenses in respect of services provided has been made or is due to be made to any of the trustees in respect of the year. 10. RELATED PARTY TRANSACTIONS There were no related party transactions during the year. 11. SUPPLY OF WATER TO RIVERSIDE COThAGE A deed has been drawn up between Bernard's Acre and Riverside Cottage regarding water supplied via Bernard's Acre. The costs of metered waterand standing charge are shown in other income. 12. GOVERNMEKf GRAI￿s During the year. the ¢harity received govemment grants totalling £15.668. These were funding packages given by the government and applied to (zrtain b￿1r1esseS affected by the Coronavirus outbreak. 13. ACCOUNTANCY & INDEPENDE￿ EXAMINATION £670 was paid for the independent examination in the year which included an element for accounts preparation. 12 ro fa W tTr fL3 7X J £4> aj Iij ) NJ Ula fD (F* oroo. COWtyJID ui ￿ ¢J> N)NJin- ¢)i a ¢D orDO.