Charity registration number 1131269 {England and Wales) Company registration number 6932120 BERNARD'S ACRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 S SimpkinsEdwards
BERNARD'S ACRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrA Heron Mrs R J Sowden Mr P T Sowden Mrs l Malhieson Mrs R Heron Mr P J Hawes Mr C R Eggins Mrs M Burge Mr P Burge (Appointed 27 September 2024) (Appointed 27 September 2024) Charlty number 1131269 Company numbar 6932120 Business address Bernard's Acre Belstone OkehamplDn Devon EX20 1QX Registered Office 15-17 Southemhay East Exeter Devon EX1 1QE Independent examiner MrA Hemmings BA IHons} FCA CTA Simpkins Edwards LLP The Summit Woodwater Park Pynes Hill Exeter EX2 5WS
BERNARD'S ACRE CONTENTS Page Trustees. report Independent examine¢s report Statement of financial activities Balance sheet Notes to the financial slaternenls 7-14
BERNARD'S ACRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared In accordance with Ihe accounling policies sel out in note 1 to the financial staternenl% and comply with the charity's [governing documentl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 2019). Objectlves and actlvltles During the year, Rosemary Sowden was responsible for day to day administration of property bookings, administration and finance. Paul Sowden was responsible for property matters. During the year the Charity employed one part time person for 20 hours per week - 12 hours par week as caretaker plus 8 hours per week lo cover the day-lo-day administration of the centre bookings process. The Focus of our Work Our main objectives for the period were lo promote the evangelical Christian faith. We meet these objectives by letting out the premises at Bernard's Acre to church affiliated and other Christian groups and individuals. Purposes and Aims Our charity's purposes as sel out in the objects contained in the company's memorandum of association are.. The promotlon of the Evangelical Christian Fallh and In furtherance of th1$ object lo provide a Christian Cenlre; and The furtherance of such other charitable purposes as lh8 charity shall determine. The aims of our charity are to promote the evangelical Christian faith by providing premises for use by Ghurch affiliated and other groups that respect our values. These premises are known as Bernard's Acre 2nd are located at 8elslone, Okehamplon, Devon. We are an inclusive Christian charity. Everyone is welcome to use our facililies, whether they are a person of faith or not. The charity is a successor body lo the unincorporated charitable trust known as The Bemard's Acre Trust established by deed executed on 10 January 1981. On 1 Oclobp,r 2009, the Trust transfprrp.d the, frep.liold property at Bernard's Acre and ils entire nel assets to the charity. The charity commence.d the activities previously undertaken by the Trust on 1 October 2009. In 5th June 2017 Bernard's Acre Trust was linked lo the Trust by tlie Charity Commission. Ensurlng our Work Dellver5 Our Alms whe.n reviewing our airrs this year the Trustees have consldered the Charity Commisqion'% puhliqhp.d guidance on public benefit. The aim of our charity is to provide cornforlable, affordable. accessible ac.commodation for use by families. church affiliated groups and other groups that respeLt our values. We review aur aims, objectives and activities each year. This review looks al 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 activilies remain focused on our stated purposes. In particular, the Iruslees consider how planned activities will contribute lo the aims and objectives they have set. How our Activities Deliver Public Benefit Our main activities and who we lry to help are described below. All our charitable activities focus 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. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfonnance Who used and benefited from our Service5 Bernard's Acre was let for around 90010 of weekends during 2024 which is our primary letting pattern. The occupancy rate during the year averaged out at around 45°/0 Wlth higher usage in high season and lower usage in low season. The impact of our work goes far beyond the individuals who stay at Bemard's Acre. The bookings retumed to a more normal paltem. which included church based groups and activities including youih groups, educational groups. adult retreats and family groups. Our work also benefils the churches, families and communities which guests belong with additional income generated by letling to farnilies and groups for holidays during the periods when the centre would otherwise be vacant. Financial roview The charitable company made an operating surplus in the year of £12,724 (2023 - surplus £59,626). Total income decreased by £49,306 compared to the previous year. Total expendilure showed a decrease of £2,404 compared lo the previous year. The charitable company's funds totalled £477,32512023= £464,601) at Ihe year-end with net currenl assets totalling £31,303 (2023: £28,217). Prlnclpal Fundlng Sources The principal funding sources for the charlty OV8r this y8ar were th8 lettlng of Bemard's Acre and some donations from supporters. Investment Pollcy Aside from retaining a prudenl amount in reserves each year mosl of the charlty's f(Ands 8re to be sp8nl in the short term concentrating on repayment of long term borrowlng and upgrade of the prem15es in order to reach a carbon neutral posilion in the long term, so there are no funds for long term investment. ReseNes policy The directors have examined the charily's requirements for reserves in light of th8 main risks to the organisation which would include a significant reduction in letlings income and the liabilities associated with employment of staff. It has established a policy lo hold al least 6 months of unrestricted expenditure. Reserves this year lolalled £477,325 which was in line with Ihis policy. Budgets for the coming yp.ar fDrer.ast a net operating profit of £21,915 of which it is proposed £10,000 woiild be earmarked for the final rp.paymp.nt i)f the mortgage capital. Plans for future perlods The charity has a full booking diary for 2025. We are reviewing our rnarkelinq slraleqy in order to maximise the incorne that can be generated during the low season now the up(]rade has been completed allowing letlinq all year round. Structure, governance and management Governing Document The organisation is a charitable company limited by 9uarantee, incorporated on 12th June 2009 and registered as a charity on 21st August 2009. The company was established under a Memorandum of Association which established the objeclive5 and powers of the charitable company and is qoverned under its Articles of Association. In the event of the company being wound up members are required to contribute an arnounl not exceeding £10.
BERNARD'S ACRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Dlrectors The names of persons who are directors for the purpose of company law and trustees for the purpose of charity law. who served during the year and up to the date of this report, are set out on pag8 1. MrA Heron Mrs R J Sowden Mr P T Sowden Mrs l Mathieson Mrs R Heron Mr P J Hawes Mr C R Eggins Mrs M Burge Mr P Burge (Appointed 27 September 2024) (Appointèd 27 September 2024) Recruitment and appointment of tnistees The directors of the company are also charity trustèes for the purposes of charity law. Under the requirements of the Memorandum and Articlès of Association the dir8Ctors are elected to serve for a period of three years after which they must be re-elected at the nextAnnual Gèneral 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 lo have taken placè as part of the meetrng of the directors at which the Accounts were presented for approval. All directorsArustees giv8 their time voluntarily and r8ceived no benefits from the Charity Organisational structurg Bernard's Acre has a board of directors who meet biannually lor more as required) and are responsible for the strategic dirèction and policy of the charity. At present the board has s8ven members from a variety of professional backgrounds relev8nl to the work of the charity. Induction and training of truste8s l* new trustees were appointed during the year. All trustees have visiled Bern8rd's Acre and volunteer in practical ways. Additionally, trustees familiarise themselves with the charity and the context within which it operat8s, including.. Th8 obligations of members The main documents which set out the operational framework for the charity including the Memorandum and Articles Resourcing and the current financial position Future plans and objectives Rlsk Manag•M•nt The directors have reviewed the major risks to which the charity is exposed. Where appropriate, systéms or ProdureS have been established to mitigate the nsks the Charity faces. Mr A Heron Trustee Date.. 1£ NIA-H 301
BERNARD'S ACRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BERNARD'S ACRE I report lo the Trustees on my examination of the financi81 statements of Bernard's Acre (the charily) for the year ended 31 December 2024. Responsibilities and basis of report As the Trustees of the charity land also its directors for the purposes of company lawl, you are responsible for ihe preparation of the financial slatemenls in accordance with the requir@ments of the Cornpanies Act 2006. Having satisfied myself that Ihe financial slatemenls of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial 51alemenls carried out under section 145 of the Charities Act 2011 . In carrying Dut my examination I have followed the Directions given by the Charity Commission under 5eclion 145{51{bl of the Charities Act 2011. Independent examlner'5 Statement I have cornpleted my examination. I confirm that no matters have come to my allention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. the financial statement8 do not accord with those record8; or the financial sl8lements do not comply wilh the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a Irue and fair view, which is not a matter considered as part of an independent examination., or the finanLial statements have nol been prepared in accordance with th& methods and principlp.s of the Slalement of Recommended Practice for accounting and reporting by charities applicablp, lo charities preparing their financial statements in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no conGerns and have come across no other matters In connectSon with the examinatlon to whlch attention should be drawn in this report in order to enable a proper understanding of the financial statements lo be r8ar.hed. Mr A Hemmlngs BA (Hons) FCA CTA for and on behalf of Simpkin5 Edwards LLP The Summit Woodwaler Park Pynes Hill Exeter EX2 5WS
BERNARD'S ACRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Unre5trict&d funds 2023 Restricted fund5 2023 Total 2023 Notes Income from: Donalions and legacies Charilable aclivilies Other trading activilies Investments 3,026 55,539 25 1,050 51,663 50,929 221 1,133 5,000 56,663 50,929 221 1,133 Total Income 59,640 103,946 5,000 108,946 Expendlture on: Charitable activitie8 46,916 49,320 49,32Q Total expenditure 46,916 49,320 49,320 Net income 12,724 54,626 5,000 59,626 Transfers between funds 5,000 15,000) Net movement in funds 12,724 59,626 59,626 Reconclllatlon of funds: Fund balances at 1 January 2024 464,601 404,975 404.975 Fund balances at 31 December 2024 477,325 464,601 464,601 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
BERNARD'S ACRE BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets 446,067 458,384 Current assets Debtors Cash al bank and in hand 10 5,655 48,311 3,710 43,912 53,966 47,622 Credltors.. amounts falllng due wlthln one year 12 122,708) (19,405) Net current assets 31,258 28,217 Total assets less current Ilabllltles 477,325 486,601 Credltors: amounts falllng due after more than one year 13 122,000} Net assets 477,325 464,601 The funds of the charity Unrestricted funds 16 477,325 464,601 477,325 464,601 The company Is entltled to the exemption from the audit requirement contained in section 477 of the Companies Acl 2006, for the year ended 31 December 2024. The dirp.clors arknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respeGt to aGGounling records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for Ihe year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to Ihe small companies regime. The flnancial s ements w re approved by the Trustees on I£Md-12o3% MrA Heron Trustee Company registration number 6932120 (England and Wales)
BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Charity information Bernard's Acre is a private company limited by guarantee incorporated in England and Wales. The regstered office is 15-17 Southemh8y East, Exeter. Devon, EX1 1 QE. The liability of each member in the event of winding up is limited to £10. 1.1 Accounling convention The financial slalemenls have been prepared in accordance with the charily's goveming document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities SORP 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to ch8rilies preparing their accounts in accordan with the FinanGial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not lo prepare a statement of cash flows. The financial slalemenls are prepared in sterling, which is the functional currency of the charity Morietary amounts in these financial statements are rounded to the nearest £. The financial statements have be.en prppared under the hislarical co81 convention, modifie.d to inr.lude the revaluation of freehold properties at fair value. The pnnaipal accounting policies adopted are set out hp.low. 1.2 Golng concern At the time of approving the financial staternenls, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operalional existence for Ihe foreseeable future. Thus the Truslees continue to adopl the going concern basis of accounting in preparing the financial slalements. 1.3 Charitablo funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 1.4 Income Income is recognised when the charity is legally entitled lo il after any performance conditions have been mel, Ihe amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. 1.5 Expenditure Expenditure is recognised once there 15 a legal or constructive obligation to transfer economic beriefit lo a Ihird party, il is probable that a transfer of economic benefits will be required in settlement. and the ainount of the obligation can be measured reliably. 1.6 Tangible fixed assets Tangibl& fixed assets are initially rneasured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment1osses. Equipment costing more than £750 is capilalised.
BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles (Continued) Depreciation is recognised so as to wrile off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings The freehold property is slaled at estimated market value and is not depreciated 15Q/a straight line Fixtures and fittings The gain or loss arising on the disposal of an asset is determined as the dilference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end dale. the charity rgviews the carying amounts uf its tangible assets to detemine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order lo determine the extent ol the impaimienl loss lif any). 1.8 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 'Other Fin8nci81 Instruments Issues, of FRS 102 lo all of ils financial instruments. Financial instruments are recognised in the charity's balanc8 sheèt when the charity becomes party to the conlraclual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial slalements, when there is 8 legally enforceable right to set off the recognised amounts and there is an inlenlion lo selllo on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, whicli include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carrled al amortised co8t ijsing the p.ffective interest method unless the arrangement constitutes a financing tr8nsaclion, where the Iransaction is measured at the present value of the future receipts discounled al a market rale of interest. Fin8ncial assols classified as receivable within one year are not amortised. Basic financial liabilities Ba5iL finanLial liabilities, including creditors and bank loans are initially recognised at Iransaction price unless the arrangement constitutes a financing transaction, where the debt instrument is mp,asured al the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt inslrumenls are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when Ihe charily's contractual obligations expire or are discharged Dr cancelled.
BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcies (Continued) 1.9 Taxation As a charitable company, Bemard's Acre is exempl from lax 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 lo its charitable purposes. No tax charges have arisen in Ihe charity. 1.10 Employee benefit The cost of any unused holiday entitlemenl is recognised in the period in which the employ6e's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Supply of Water to Riverside Cottage A deed has been drawn up between Bernard's Acre and Riverside. Cottage regarding water supplied via Bernard's Acre. The costs of metered water and standing charge are Shown in other income. Income from donatlons and legacles Unrestricted Restricted fund5 funds 2024 2024 Total Unrestricted Restricted funds fund5 2023 2023 Total 2024 2023 Don81ions 8nd glfts 3,026 3,026 51,663 5,000 56,663 Income from charitable activltles Charitable Charitable activities activities Income income 2024 2023 Leltings income 55,539 50,929 Analysls by fund UnrestriGted funds 55,539 50,929 Income from other tradlng actlvities Unrestricted Unrestricted fund5 funds 2024 2023 other income 25 221
BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from Investments Unrestricted Unrestrlcted funds funds 2024 2023 Interest receivable 1,050 1,133 Expenditure on charitable activities Charitable Charitable expenditure expenditure 2024 2023 Dlrect costs Staff costs Depreciation and impairment Healing and lighting Insurance Water and sewage Waste disposal Telephone Repairs, maintenance and equipment Cleaning Renl and rates Accountancy Payroll charges Bank charges Miscellaneous expenses Loraine Trust mortgage interest Dues and subscriptions Advertlsing 14,627 12,317 825 3,191 715 837 1,333 2,599 4,481 276 2,190 252 60 1,373 880 326 634 12,404 9,404 3,792 2,878 826 484 1,091 6,296 3,885 338 2,n10 252 91 1,271 3,280 555 463 46,916 49,320 Analysis by fund Unrestricted funds 46,916 49,320 Trustees One of the Trustee5 wa5 reimbursed expenses totalling £564 12023.. £2,206) during the year. These costs were in relation to charitable expenditure. 10-
BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries 14,627 12,404 There were no employees whDse annual remuneration was more than £60,000. Tangible fixed assets Freehold land Flxtures and and bulldlngs flttlngs Total Cost At 1 January 2024 400,000 90,705 490,705 Al 31 December 2024 400,000 90,705 490,705 Depreciation and impairnient Al 1 January 2024 Depreciation charged in the year 32,321 12,317 32,321 12,317 Al 310ecember 2024 44,638 44,638 Carrying amount At 310ecember 2024 400,000 46,067 446,067 At 31 December 2023 400,000 58,384 458,384 10 Debtors 2024 2023 Amounts falling due within one year: Trade deblors Other debtors Prepayments and accrued income 2,023 1,069 2,563 1,396 2,314 5,655 3,710 11
BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Loans and overdrafts 2024 2023 Bank overdrafts Other loans 6,307 22,000 10,000 10,000 28,307 Payable within one year Payable after one year 10,000 6,307 22.000 A loan of £100,000 has been offered by The Loraine Chrisiian Trust with interest charged at 41/lp over a period of up lo fifteen years. The Charity repaid £12,000 during the year. 12 Creditors: amounts falling due within one year 2024 2023 Notes Bank overdrafts Borrowings Other taxation and social security Deferred income Trade creditors Other creditors A¢cnJals 6,307 10,000 36 10,392 45 1451 2,280 14 10,042 659 2,397 22,708 19,405 13 Credltor8: amounts falllng due after more than one year 2024 2023 Borrowings 22,000 12
BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Deferred Income 2024 2023 Olher deferred income 10,392 10,042 Deferred income is included in the financial statements as follows: 2024 2023 Deferred income is included within.. Current liabilities 10,392 10,042 Movements in the year.. Deferred income al 1 January 2024 Released from previous periods Resources deferred in the year 10,042 110,0421 10,392 9,133 19,650) 10,559 Deferred income al 310ecember 2024 10,392 10,042 15 Restrlcted funds The restricted funds of the charity comprise the balances of donations 8nd grants held on trust subject to specific condltions by donors 8S to how they may be used. Prevlous year: At 1 January 2023 Incoming resources Transfers At31 December 2023 The Moshulu Charitable Trust Grant 5,000 15,000) During the previous year, the charity recelved £5,000 from The Moshulu Charitable Trust. This donation was to be used to 8SSlSt the charity in the purchase of solar panels. 13-
BERNARD'S ACRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Unrestricted funds At 1 January 2024 Incoming resources Resources expended Transfers At31 December 2024 General funds 464,601 59.640 146,916) 477.325 Prevlous year: At 1 January 2023 Incomlng resource5 Resources expended Transfers At31 December 2023 Revaluation of property General funds 250,000 154,975 250,000 214,601 103,946 (49,3201 5,000 404,975 103,946 (49,3201 5,000 464,601 17 Related party transactions Equipment and work done totalling £34812023.. £767) was paid for by the charity to a company where the son of two of the tTUSteès is a director. 14