2020-08-31-accounts

ANNUAL REPORT AND ACCOUNTS

HOLY TRINITY TRUST

(A company limited by guarantee)

FOR THE YEAR ENDED 31[ST] AUGUST 2020

Company Number 6984703 (England) Charity Number 1137070

Holy Trinity Trust

Contents

	Page
Reference Information	1
Directors’ Report	2
Independent Examiner’s Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Accounts	8

Holy Trinity Trust

Reference information

Charity Name: Holy Trinity Trust

Charity Number: 1137070

Company Number: 6984703

Registered Office and Operational Address:

Church Rooms, The Avenue, Combe Down, Bath, BA2 5EE

Directors (Trustees):

A M Hannan Mrs S A Wilsher H M Jones (resigned 16 March 2021) D J Purdon

I N Robertson

N J D Alexander (appointed 9 November 2020)

Company Secretary

DJ Purdon

1

Holy Trinity Trust

Directors’ Report For the year ended 31[st] August 2020

The Directors have pleasure in presenting their tenth report of the Company for the year ended 31[st] August 2020. The Company is limited by Guarantee and is also a registered Charity. The Directors (who are also the Trustees) have adopted the provisions of the Statement of Recommended Practise (SORP) Accounting and Reporting by Charities issued in March 2005.

The objects of the Company are for the benefit of the congregations of Holy Trinity Church, and St Andrew’s Community Church, Combe Down, Bath, and/or such other persons in the United Kingdom as the Directors of the Company may see fit from time to time:

• To promote and advance all aspects of the Christian faith including but not limited to the promotion of Christian beliefs through the holding of prayer meetings, lectures, public celebration of religious festivals and producing or distributing literature relating to the Christian faith to enlighten others about the Christian faith;

• To provide and maintain community facilities for recreational or any other purposes including leisure time activities in the interests of social welfare as the Directors may think fit from time to time, with the object of improving the conditions of life and benefiting those persons who have need by reason of (to include but not be limited to) their youth, poverty or social or economic circumstances; and

• To relieve hardship, including financial hardship and to promote and preserve good health by the provision of food, funds and support (to include advice and counselling) and such other assistance that the Company may think fit to offer from time to time, to benefit the homeless, aged, disabled, single parent families and other persons in need.

The Directors are committed to enabling as many people as possible to have access to its facilities and maintaining a policy of being open and inclusive for all sections of the community. The Directors have considered the Charity Commissioners guidance on public benefit.

Main Activity in the period

During the year ended 31[st] August 2020, the Company continued to exercise the sole trusteeship of the following properties:

The property known as ‘The Church Rooms’, The Avenue, Combe Down;

The property known as ‘Trinity Cottage’, The Avenue, Combe Down;

The property known as ‘St Andrew’s Church’ Hawthorn Grove, Foxhill, Bath.

Firs Field Charity

The Charity for Ecclesiastical Purposes ICW The Church of England in the Ecclesiastical Parish of Holy Trinity, Combe Down, Bath (“The Firs Field Charity”) was established in 1920. The main asset of the charity is an area of land located at Firs Field, Combe Down.

The land is currently let to the 10th Bath (Combe Down) Scout Group on a lease that expired on 31 March 2019. The trustees are currently in negotiation with the Scout Group regarding a new lease and are also reviewing the detailed legal position of the charity. Up until 2011 the managing trustee of the Firs Field Charity was the Parochial Church Council of Holy Trinity, Combe Down. Under a Charities Act Scheme dated 11 November 2011, the trusteeship of the Firs Field Charity was transferred to the Holy Trinity Trust.

2

Holy Trinity Trust

Overall review of the year

The year to August 2020 has been one of receiving rent and properly establishing the expenditure patterns of the premises.

Financial Review

The total incoming resources for the year ended 31[st] August 2020 were £43,272 (2019 - £46,697). All of this income has been in the form of rent amounting to £43,272 (2019 £46,7414)

The major area of expense during the year ended 31[st] August 2020 related to the running costs of the three main buildings. Repairs came to £9,167 and cleaning £4,285 (2019 £14,136 and £8,452 respectively).

The combined operating surplus for the year was £8,977 (2019 surplus £1,410). This was for unrestricted funds only. There were no restricted balances in 2020 or 2019

The Company is registered for VAT and reclaims VAT on qualifying expenditure.

Political and charitable donations

There were no political or charitable donations made during the year

Plans for Future Years

The Company plans to continue to maintain its properties throughout the next year and continue to ensure that the trading is profitable, given its charitable aims.

The Directors will continue to attract new and existing charitable donations from private individuals and other grant making organisations to assist its continuing charitable activities

Statement of Directors’ Responsibilities

Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company for the year and of its incoming resources and resources expended during the year. In preparing those financial statements, the Directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue to function.

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the Company and enable them to ensure that the financial statements comply with the relevant Companies Act and Charities Act. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

These financial statements have been examined by Richard Beath FCCA. A resolution proposing that Richard Beath FCCA be reappointed was passed at the Annual General Meeting of the Company held on 17 March 2021.

This report was approved by the Directors on 17 March 2021.

By order of the Trustees

D J Purdon

3

Holy Trinity Trust

Independent Examiner’s Report to the trustees of Holy Trinity Trust

I report on the accounts of the Company for the year ended 31[st] August 2020, which are set out on pages 5 to 9.

Respective responsibilities of trustees and examiner

The Trustees (who are also the Directors of the Company for the purposes of company law) are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The Charity’s gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.

Having satisfied myself that the Charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

• examine the accounts under section 145 of the 2011 Act;

• to follow the procedures laid down in the general Directions given by the Charity Commission under section 154 of the 2011 Act; and

• to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) Which gives me reasonable cause to believe that in any material respect the requirements,

• to keep accounting records in accordance with section 386 of the Companies Act 2006; and

• to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

• (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Richard HW Beath BSc FCCA

Ashlar House, 58a Combe Road, Combe Down, Bath BA2 5HZ 28th February 2021

4

Holy Trinity Trust

Statement of Financial Activities For the year ended 31[st] August 2020

Statement of Financial Activities For the year ended 31stAugust 2020
Income and Expenditure
	Notes	Restricted	Unrestricted	Total		Total
		Funds	Funds	2020		2019
		£	£	£		£
IncomingResources
Voluntaryincome
Legacyandgifts	2	0	0	0		0
Net refund of bank charges		0	0	0		0
IncomingResources from Charitable Activities
Lettings, Rental and other Income	3	0	43,272	43,272		46,697
Total IncomingResources		0	43,272	43,272		46,697
Resources Expended
Charitable expenditure		0	34,295	34,295		45,287
Governance costs		0	0	0		0
Total Resources Expended		0	34,295	34,295		45,287
Net Movement in Revenue Funds		0	8,977	8,977		1,410
Asset values transferred between funds		0	0	0
Balances brought forward 1/9/19		1,184,659	67,650	1,252,309		1,266,670
Total Funds to carryforward 31/8/20		1,184,659	76,627	1,261,286		1,268,080

Continuing Operations

The Company was incorporated on 7[th] August 2009 and commenced activities on the same date. No activities were discontinued in the year.

Total Recognised Gains and Losses

There are no recognised gains or losses in the above financial year other than those passing through the Statement of Financial Activities.

The notes on pages 6 to 9 form an integral part of these financial statements.

5

Holy Trinity Trust

Balance Sheet At 31[st] August 2020

Balance Sheet At 31stAugust 2020
		31-Aug-20			31-Aug-19
	Notes	£	£		£	£
Fixed Assets	4
Properties		1,425,643			1,425,643
Fixtures & Fittings		38,049			38,049
			1,463,691			1,463,691
Current Assets
Debtors	5	11,659			12,022
Cash at Bank and in Hand		89,012			90,104
Total current assets		100,671			102,126
Creditors: amounts fallingdue within oneyear	6	5,682			16,114
Net Current Assets			94,989			86,012
Total Assets less Current Liabilities			1,558,680			1,549,703
Creditors: amounts fallingdue after
more than oneyear	7		0			0
Net Assets			1,558,680			1,549,703
Represented by:
Funds	8
Unrestricted Funds			76,627			67,650
Revaluation Reserve			297,394			297,394
Restricted Funds			1,184,659			1,184,659
			1,558,680			1,549,703

Directors’ statements required by Section 475 for the year ended 31[st] August 2019

In approving these financial statements as Directors of the Company, we hereby confirm:

• (a) that for the year stated above, the Company was entitled to the exemption conferred by Section 477 of the Companies Act 2006;

• (b) that no notice has been deposited at the registered office of the Company pursuant to Section 476 requesting that an audit by conducted for the year ended 31[st] August 2018; and

• (c) that we acknowledge our responsibilities for:

• (1) ensuring that the Company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006, and

• (2) preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its surplus or deficit for the year then ended in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the provisions of the Companies Act 2006 relating to the financial statements, so far as applicable to the charitable company.

These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). These financial statements were approved by the board of directors on 17 March 2021 and signed on behalf of the board by

N J D Alexander

D J Purdon

6

Holy Trinity Trust

Notes to the Financial Statements Year to 31[st] August 2020

1 Accounting Policies

The principal accounting policies are set out below. These accounting policies have been applied consistently throughout the year.

Basis of Accounting

These financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards. They follow the recommendations in the Statement of Recommended Practise, accounting and Reporting by Charities (issued March 2005, revised in May 2008) and the Companies Act 2006.

Incoming Resources

Income is recognised by the Company as follows:

Voluntary income such as donations, gifts and legacies is included in full at the point of receipt;

Letting and other rental income is included in full at the point of invoice for the year relating to the financial statements (excluding VAT).

Donated assets are included at the value to the charity where this can be quantified and where a third party is bearing the cost.

Resources Expended

Resources expended are recognised in the year in which they are incurred. Charitable expenditure comprises those costs directly incurred by the Company in the delivery of its charitable activities. In includes both costs that can be allocated directly to such activity and those costs of an indirect nature necessary to support them.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a specific activity are allocated directly; others are apportioned on an appropriate basis.

Taxation

The activities of the Charity fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these financial statements.

Capitalisation and Depreciation of Fixed Assets

All assets costing more than £1,000 are capitalised.

Buildings and land assets including integral fixtures and fittings have been valued at the estimated market value. Other depreciation on equipment, plant and vehicles is calculated to write off the cost less the residual value of each asset over its expected useful life, as follows:

Equipment 25% on cost.

In this instance there is no equipment, plant or vehicles on the balance sheet.

7

Holy Trinity Trust

Notes to the Financial Statements (continued) Year to 31[st] August 2020

Fund Accounting

Funds held by the Charity are either:

Unrestricted funds – these are funds which can be used in accordance with the charitable objects at the discretion of the Directors, or

Restricted funds – these are funds which can only be used for the particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for a particular purpose.

2 Incoming Resources

During the year, the Company received no restricted donations and unrestricted donations (2019 nil).

3 Lettings, Rental and other Income

During the year the Company received letting income in respect of room hire at the Church Rooms, residential rental income from Trinity Cottage and rental income for the use of the St Andrew’s Church. Total rental income in 2020 was £43,272 as compared to £46,414 in 2019, a small decrease of £3,142.

4 Tangible Fixed Assets

4 Tangible Fixed Assets
		Freehold buildings & Land		Fixtures & Fittings		Total
		£		£		£
Cost
Brought forward balances 1 September 2019		1,425,643		38,049		1,463,691
Additions inyear		0		0		0
Revaluation inyear		0		0		0
Balances at 31st August 2020		1,425,643		38,049		1,463,691
Depreciation
Brought forward balances 1 September 2019		0		0		0
Charge for theyear		0		0		0
Balances at 31st August 2020		0		0		0
Net book values
At 1st September 2019		1,425,643		38,049		1,463,691
At 1st September 2020		1,425,643		38,049		1,463,691

8

Holy Trinity Trust

5 Debtors	2020	2019
	£	£
Other debtors	8,415	2,770
Prepayments	2,703	4,130
VAT debtor		4,549
Debtors control account	541	573
	11,659	12,022
6 Creditors: amounts falling due within one year
	£	£
Other creditors	1,542	2,376
Creditors control account	1,623	4,069
VAT net creditor	366	5,177
Accruals	2,152	4,492
	5,682	16,144

7 Creditors: amounts falling due after more than one year

During the year, there were no creditors falling due after more than one year.

8 Capital Commitments and Revaluations

There were no capital commitments at 31[st] August 2020

Under recently amended accounting rules all fixed assets must be shown as their estimated market value. In the light of this the Trustees obtained a market valuation of Trinity Cottage and Trinity Rooms and the accumulated depreciation was adjusted to take this into account. It was assumed that all the fixtures and fittings were integral to the two buildings and were considered to be part of the properties’ valuations. The development of St Andrew’s Church has been included in the books at cost.

9 Contingent Liabilities

There were no contingent liabilities at the end of the year.

10 Company Status

The members of the Company are the Directors named in the Directors’ Report. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

11 Related party disclosures

None of the directors received any remuneration in the year.

There were transactions between the PCC and the Company during the year

The PCC is the principal tenant of both the Church Rooms and St Andrew’s Church and pays a rent.

9