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2023-07-31-accounts

THE KENDRAY TRUST

FINANCIAL STATEMENT

FOR THE YEAR ENDED

31ST JULY 2023

CHARITY No: 1137488

COMPANY No: 07321647

THE KENDRAY TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST JULY 2023

Contents

THE KENDRAY TRUST YEAR ENDED 31ST JULY 2023 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.

The Directors/Trustees who served during the year:-

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, AIMS Accountants for Business, Studio 21, SUM Studios, 1 Hartley 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 2023

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 2022 to 31st July 2023.

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 49 individuals and 6 other charitable trust made financial contributions to the Trust, the majority under the Inland Revenue Gift Aid scheme, further increasing the value of their support. Balance from both restricted an unrestricted funds brought forward from previous year was £265,753 plus income for year of £136,654 total £402,407. Total expenditure for the year was £113,023 leaving a balance in both restricted and unrestricted funds totalling £289,384.The Trustees have allocated £70,474 of the general fund for future plans and developments.

Expenditure in this financial year appears inflated due to support of Latin America for Christ and the return of royalty funds that were received in error.

2

THE KENDRAY TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31ST JULY 2023

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

Fundraising

During this period a delegated trustee continued to seek support, requests were sent to individuals and partner charities who help fund the gospel workers. So far, we have pledges secured to cover approximately 75% of funds required for a 4-year period.

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 2023 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::-

• 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

28th April 2024

4

THE KENDRAY TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST JULY 2023

INCOMING RESOURCES
Notes
Incoming resources from generated funds
Voluntary Income
2
Activities for generating funds
3
Investment Income
4
Total incoming resources
RESOURCES EXPENDED
Charitable activities
5a
Governance costs
5b
Total resources expended
NET INCOME (EXPENDITURE) FOR THE YEAR
RECONCILIATION OF FUNDS
Transfers between Funds
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 funds
£
6,491
-
2,977
9,468
11,848
474
12,322
(2,854)
-
102,738
99,884
Unrestricted		 Restricted
funds
£
127,186
-
-		 2023
Total
funds
£
133,677
-
2,977
136,654
112,549
474
113,023
23,631
-
265,753
289,384		 2022
Total
funds
£
132,609
-
1,046
127,186
100,701
-		 133,655
95,283
-
462
100,701 95,745
26,485
-
163,015		 37,910
-
227,843
189,500 265,753

5

THE KENDRAY TRUST

Company Registered Number 07321647

BALANCE SHEET

AT 31ST JULY 2023

Notes
FIXED ASSETS
6
CURRENT ASSETS
Cash at bank and in hand
Other current assets
7
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS
9
Unrestricted funds
Restricted funds
TOTAL FUNDS		 funds
£
-
100,358
-
100,358
474
99,884
99,884
Unrestricted		 Restricted
funds
£
-
189,500
-
189,500
-
189,500
189,500		 2023
Total
funds
£
-
289,858
-
289,858
474
289,384
289,384
99,884
189,500
289,384		 2022
Total
funds
£
-
266,215
-
266,215
462
265,753
265,753
102,738
163,015
265,753

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

For the year ending 31st July 2023 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 28th April 2024 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 2023

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 2023

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 2023

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
£
6,491
-
6,491
Unrestricted
funds
£
-
Unrestricted
funds
£
2,977
Unrestricted
funds
£
301
-
-
11,000
-
534
13
-
11,848
Unrestricted
funds
£
474
474		 Restricted
funds
£
127,186
-
127,186
Restricted
funds
£
-
Restricted
funds
£
-
Restricted
funds
£
78,054
-
212
-
4,290
-
18,145
-
100,701
Restricted
funds
£
-
-		 Total
2023
£
133,677
-
133,677
Total
2023
£
-
Total
2023
£
2,977
Total
2023
£
78,355
-
212
11,000
4,290
534
18,158
-
112,549
Total
2023
£
474
474		 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

9

THE KENDRAY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31ST JULY 2023

6.
FIXED ASSETS
At 1st August 2022
Additions
At 31st July 2023
Depreciation
At 1st August 2022
For the year
At 31st July 2023
Net Book Amounts
At 31st July 2023
At 31st July 2022
7.
DEBTORS: AMOUNTS RECEIVABLE DUE WITHIN ONE YEAR
Payroll debtor
Accruals and deferred income
9.
STATEMENT OF FUNDS
At 1 August
Fund
2022
transfer
£
£
9a. Unrestricted:
General Fund
32,264
-
Futures Fund (designated)
70,474
-
102,738
-
9b. Restricted:
Youth Worker Fund
44,372
-
Children's Worker Fund
-
-
Assistant Pastor Fund
51,205
-
Futures Fund
14,053
-
Ministry Trainee Fund
1,227
-
Hope Church, Goldthorpe Fund
38,155
-
Miscellaneous Funds
14,003
-
163,015
-
Total funds
265,753
-
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Cost		 Income
£
9,468
-
9,468
27,227
-
36,148
8,961
375
53,685
790
127,186
136,654		 Equipment
£
1,386
-
1,386
1,386
-
1,386
-
-
2023
£
-
-
2023
£
474
474
Expenditure
£
12,322
-
12,322
22,928
-
32,659
-
-
40,824
4,290
100,701
113,023		 Total
£
1,386
-
1,386
1,386
-
1,386
-
-
2022
£
-
-
2022
£
462
462
At 31 July
2023
£
29,410
70,474
99,884
48,671
-
54,694
23,014
1,602
51,016
10,503
189,500
289,384

10

THE KENDRAY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST JULY 2023

10. ANALYSIS OF NET ASSETS BY FUND

Unrestricted
Restricted
funds
funds
£
£
Fixed Assets:
-
-
Current assets:
CAF Gold Account
58,720
105,609
CAF Cafcash Account Gospel Workers
-
2,000
Other Current assets
-
-
Kingdom Bank
41,638
81,891
Cash
-
-
100,358
189,500
Debtors (Note 7)
-
-
Creditors (Note 8)
(474)
-
Fund balance
99,884
189,500
COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Restricted
funds
funds
INCOMING RESOURCES
£
£
Incoming resources from generated funds
Voluntary Income
11,546
121,063
Activities for generating funds
-
-
Investment Income
1,046
-
Total incoming resources
12,592
121,063
RESOURCES EXPENDED
Charitable activities
109
95,174
Governance costs
462
-
Total resources expended
571
95,174
NET INCOME (EXPENDITURE) FOR THE YEAR
12,021
25,889
RECONCILIATION OF FUNDS
Transfers between Funds
(477)
477
Total funds brought forward
91,194
136,649
TOTAL FUNDS CARRIED FORWARD
102,738
163,015
Unrestricted		 Restricted
funds
£
-
105,609
2,000
-
81,891
-		 Total
2023
£
-
164,329
2,000
-
123,529
-
189,500
-
-		 289,858
-
(474)
189,500 289,384
Total
2022
£
132,609
-
1,046
121,063 133,655
95,174
-		 95,283
462
95,174 95,745
25,889
477
136,649		 37,910
-
227,843
163,015 265,753

11. COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES

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.