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2022-07-31-accounts

THE KENDRAY TRUST

FINANCIAL STATEMENT

FOR THE YEAR ENDED

31ST JULY 2022

CHARITY No: 1137488

COMPANY No: 07321647

THE KENDRAY TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST JULY 2022

Contents

THE KENDRAY TRUST YEAR ENDED 31ST JULY 2022 COMPANY INFORMATION

The Charity is registered and is a company limited by guarantee governed by its Memorandum and Articles of Association. Company No. 7321647; Charity Registration No. 1137488.

Directors / Trustees

The Directors of the charitable company (The Trust) are its Trustees for the purposes of charitable law and throughout this report are collectively referred to as the Trustees.

Secretary and Registered Office

Amanda Jane Clough has been appointed the Company Secretary. The registered office is 20 Old Oaks View, Barnsley, South Yorkshire, S70 3RN.

Independent Examiner

Appleby Randall Limited, MAAT, AIMS Accountants for Business, Studio 21, SUM Studios, 1 Harley Street, Sheffield, South Yorkshire, S2 3AQ.

Bankers

CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ.

Kingdom Bank, Ruddington Fields Business Park, Mere Way, Ruddington, Nottingham, NG11 6JS.

1

THE KENDRAY TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2022

The Trustees, who are the charity’s directors for the purpose of company law, are pleased to submit their report and accounts for the period 1st August 2021 to 31st July 2022.

The legal and administrative information set out on page 1 forms part of this Report. The financial statements are prepared in accordance with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice – Accounting and Reporting by Charities.

Objects of The Charity

The Charity’s objectives as set out in the Memorandum and Articles of Association is to advance the Christian faith in accordance with the Statement of Beliefs in the area of Barnsley, South Yorkshire and in such other parts of the United Kingdom or the world as the Trustees deem appropriate.

Summary of the Charity’s main activities, achievements and future developments

The main activities undertaken during this period in relation to the Charity’s objective were:

The Trustees consider that such activities provide public benefit to those in the local area and wider community and the Trustees have had regard to the guidance issued by the commission on public benefit.

Plans for the future

The Kendray Trust intends to continue its regular activities and has no plans for significant changes in any aims or objectives. The Trustees continue to consider how, going forward we can secure faithful gospel ministry and support the planting of new churches.

Structure, Governance and Management

The Trustees are committed to high standards of Corporate Governance, believing that it is a key element in protecting the on-going work of the Trust. Responsibility for setting policy and for determining the parameters within which the charity operates rests with the Trustees. The Trustees meet in person at least twice per year and activities are also monitored and communicated over email as the need arises.

Each Trustee is supplied with meeting agenda and supporting papers in advance of each Trustee Meeting, including a detailed financial report.

The Charity is controlled by it’s governing documents, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

At any time, there must be a minimum number of three Trustees and a maximum of eight. The Board of Trustees is responsible for the appointment of new Trustees. All Trustees appointed are in full support of the charity’s aims and objectives and are familiar with the workings of the charity.

All newly appointed trustees will be given a copy of the current version of the governing documents and a copy of the latest Trustees’ Annual Report and statement of financial statements.

Financial Review

The results for the year and the financial position of the charity are shown on pages 5 to 11.

During the year 52 individuals and 4 other charitable trusts made financial contributions to the Trust, the majority under the Inland Revenue Gift Aid scheme, further increasing the value of their support. The balance from both restricted an unrestricted funds brought forward from the previous year was £227,843 plus income for year of £133,655 total £361,498. Total expenditure for the year was £95,745 leaving a balance in both restricted and unrestricted funds totalling £265,753. The statement of financial activity shows transfers between funds following the Trustees decision to transfer funds into a restricted fund established in the previous year.

The Trustees have considered the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy of holding a minimum £7000 being the equivalent of one month’s salaries, rent and winding down costs. These would be drawn from both restricted and unrestricted funds as the risk applies to both heads

2

THE KENDRAY TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST JULY 2022

Fundraising

During this period, Trustees began the next cycle of fund raising to continue employing one of the gospel workers. Requests for continued support were sent to individuals and partner charities who help fund the gospel worker. 75% of required funds has been pledged.

Key Risks and Uncertainties

The charity is exposed to various risks be they operational, financial or reputational. The Trustees review the charity’s activities and commitments periodically to identify significant risk and, where possible, take appropriate measure to reduce those risks. Identified risks are:

In order to prevent mismanagement of funds the following risk management procedure is in place: Dual authorisation of any payment electronic or cheque; Monthly reconciliation report sent to designated Trustee; Finance report given at each meeting and upon request.

To reduce the risk of funding loss, funds are raised on a 4-yearly cycle for each gospel worker.

Investment Powers

Under the Memorandum and Articles of Association the Trust has the power to make any investments, which the Trustees see fit.

Related Parties

The Trustees are of the opinion that there were no transactions with related parties.

Approval

This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:

………………………………………………… Reverend Peter C.W. Jackson

Chair

3

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE KENDRAY TRUST

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of the Kendray Trust (the charitable company) for the year ended 31st July 2022 which are set out on pages 5 to 11.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement..

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect::-

! accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

! the financial statements do not accord with those records; or

! the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or

!"the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached

……… …………………………… ………. Appleby Randall Limited A.l.M.S. Accountants for Business Studio 21, SUM Studios 1 Hartley Street Sheffield S2 3AQ

14th April 2023

4

THE KENDRAY TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST JULY 2022

INCOMING RESOURCES
&'($)
Incoming resources from generated funds
Voluntary Income

Activities for generating funds
+
Investment Income
,
Total incoming resources
RESOURCES EXPENDED
Charitable activities
-"
Governance costs
-.
Total resources expended
NET INCOME (EXPENDITURE) FOR THE YEAR
RECONCILIATION OF FUNDS
Transfers between Funds
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD*		 funds
£
11,546
-
1,046
12,592
109
462
571
12,021
(477)
91,194
102,738
Unrestricted		 Restricted
funds
£
121,063
-
-		 2022
Total
funds
£
132,609
-
1,046
133,655
95,283
462
95,745
37,910
-
227,843
265,753		 2021
Total
funds
£
142,701
-
353
121,063
95,174
-		 143,054
83,512
-
450
95,174 83,962
25,889
477
136,649		 59,092
-
168,751
163,015 227,843

5

THE KENDRAY TRUST

Company Registered Number 07321647

BALANCE SHEET

AT 31ST JULY 2022

&'($)
FIXED ASSETS
/
CURRENT ASSETS
Cash at bank and in hand
Other current assets
0
CREDITORS
Amounts falling due within one year
1
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS
2
Unrestricted funds
Restricted funds
TOTAL FUNDS		 funds
£
-
103,200
-
103,200
462
102,738
102,738
Unrestricted		 Restricted
funds
£
-
163,015
-
163,015
-
163,015
163,015		 2022
Total
funds
£
-
266,215
-
266,215
462
265,753
265,753
102,738
163,015
265,753		 2021
Total
funds
£
-
228,293
-
228,293
450
227,843
227,843
91,194
136,649
227,843

In approving these financial statements as trustees, we hereby confirm the following:

For the year ending 31st July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit for its accounts for the year in question in accordance with section 476, of the Companies Act 2006.

The trustees/directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro entity provisions and delivered in accordance with provisions aplicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on 14th April 2023 and were signed on its behalf by:

…………………………………………..

Reverend Peter C.W. Jackson - Trustee

6

THE KENDRAY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2022

1 ACCOUNTING POLICIES

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practise, Accounting and Reporting by Charities.

Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies applied to particular categories of income:

Resources expended

Fixed assets

General equipment 25%

Allocation and apportionment of costs

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

7

THE KENDRAY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2022

1 ACCOUNTING POLICIES

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

8

THE KENDRAY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST JULY 2022

2 Incoming resources
Grants and donations
Other Income
3 Activities for generating funds
Equipment rents received
4 Income from short term deposits
Interest
5 Total resources expended
5a Management & administration
Staff costs
Office costs
Premises costs
Grants made
Youth & children's camps
Bank charges
Other Costs
Depreciation
5bGovernance
Independent examination fees		 Unrestricted
funds
£
11,546
-
11,546
Unrestricted
funds
£
-
Unrestricted
funds
£
1,046
Unrestricted
funds
£
-
-
-
-
-
96
13
-
109
Unrestricted
funds
£
462
462		 Restricted
funds
£
121,063
-
121,063
Restricted
funds
£
-
Restricted
funds
£
-
Restricted
funds
£
74,049
16
3,046
-
-
-
18,063
-
95,174
Restricted
funds
£
-
-		 Total
2022
£
132,609
-
132,609
Total
2022
£
-
Total
2022
£
1,046
Total
2022
£
74,049
16
3,046
-
-
96
18,076
-
95,283
Total
2022
£
462
462		 Total
2021
£
142,701
-
142,701
Total
2021
£
-
Total
2021
£
353
Total
2021
£
71,975
-
5,949
-
-
81
5,507
-
83,512
Total
2021
£
450
450

9

THE KENDRAY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31ST JULY 2022

6.
FIXED ASSETS
At 1st August 2021
Additions
At 31st July 2022
Depreciation
At 1st August 2021
For the year
At 31st July 2022
Net Book Amounts
At 31st July 2022
At 31st July 2021
7.
DEBTORS: AMOUNTS RECEIVABLE DUE WITHIN ONE YEAR
Payroll debtor
Accruals and deferred income
9.
STATEMENT OF FUNDS
At 1 August
Fund
2021
transfer
£
£
9a. Unrestricted:
General Fund
91,194
(70,951)
Futures Fund (designated)
-
70,474
91,194
(477)
9b. Restricted:
Youth Worker Fund
38,051
-
Children's Worker Fund
-
-
Assistant Pastor Fund
50,378
-
Futures Fund
4,935
-
Ministry Trainee Fund
927
-
Hope Church, Goldthorpe Fund
28,355
477
Miscellaneous Funds
14,003
-
136,649
477
Total funds
227,843
-
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Cost		 Income
£
12,592
-
12,592
30,015
-
32,155
9,134
300
49,459
-
121,063
133,655		 Equipment
£
1,386
-
1,386
1,386
-
1,386
-
-
2022
£
-
-
2022
£
462
462
Expenditure
£
571
-
571
23,694
-
31,328
16
-
40,136
-
95,174
95,745		 Total
£
1,386
-
1,386
1,386
-
1,386
-
-
2021
£
-
-
2021
£
450
450
At 31 July
2022
£
32,264
70,474
102,738
44,372
-
51,205
14,053
1,227
38,155
14,003
163,015
265,753

10

THE KENDRAY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST JULY 2022

10. ANALYSIS OF NET ASSETS BY FUND

Fixed Assets:
Current assets:
CAF Gold Account
CAF Cafcash Account Gospel Workers
Other Current assets
Kingdom Bank
Cash
Debtors (Note 7)
Creditors (Note 8)
Fund balance		 Unrestricted
funds
£
-
60,356
-
-
42,844
-
103,200
-
(462)
102,738		 Restricted
funds
£
-
90,594
2,000
-
70,421
-		 Total
2022
£
-
150,950
2,000
-
113,265
-
163,015
-
-		 266,215
-
(462)
163,015 265,753

11. COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOMING RESOURCES
Incoming resources from generated funds
Voluntary Income
Activities for generating funds
Investment Income
Total incoming resources
RESOURCES EXPENDED
Charitable activities
Governance costs
Total resources expended
NET INCOME (EXPENDITURE) FOR THE YEAR
RECONCILIATION OF FUNDS
Transfers between Funds
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 funds
£
23,813
-
353
24,166
6,411
450
6,861
17,305
-
73,889
91,194
Unrestricted		 Restricted
funds
£
118,888
-
-		 Total
2021
£
142,701
-
353
118,888 143,054
77,101
-		 83,512
450
77,101 83,962
41,787
-
94,862		 59,092
-
168,751
136,649 227,843

11

Mark Randall FCA

Studio 21, SUM Studios 1 Hartley Street, Sheffield, South Yorkshire, S2 3AQ. T: 0114 275 0461 | M: 07908 592007 | E: mark.randall@aims.co.uk | W: www.aims.co.uk

AIMS is a national association of independent accountancy practices operating under licence granted by AIMS Partnership Ltd. Appleby Randall Limited t/a AIMS Accountants for Business, registered in England and Wales, No: 05552891. Registered office as above.