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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 07266300 (England and Wales) REGISTERED CHARITY NUMBER: 1137747

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

FOR

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

44 Grand Parade Brighton East Sussex BN2 9QA

Chariot House Limited Chartered Accountants

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

----- Start of picture text -----
Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 18
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BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Trust is a company limited by guarantee, it was formed on 26 May 2010 and is a registered charity, number 1137747.

Its objectives are:

  1. The advancement of the Christian religion for the benefit of the public through the public worship of God according to the principles and usages of the United Reformed Church.

  2. The advancement of education through the instruction of children and adults.

  3. The promotion of other charitable purposes not inconsistent with the principles and usages of the United Reformed Church (URC).

Public benefit

The trustees confirm that they have given due regard to the Charity Commission guidance on public benefit while setting objectives and activities of the charity. The Trust continues to run Brighthelm Trading Limited which conducts activities which are not charitable, thus ensuring that the Trust is conducting charitable activities in line with its object and for the public benefit. Brighthelm Trading Limited covenants its profits back to Brighthelm Church and Community Centre Trust Limited as Gift Aid.

Page 1

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Charitable activities Brighthelm's key strategic objectives are:

Rev Alex Mabbs continues as Minister at Brighthelm and has a mandate from the Southern Synod of the URC to encourage faith, focussed on a Christ-centred call to live lightly on the planet whilst lessening our environmental impact. Additionally he acts as the 'Green Apostle' for the Southern Synod in promoting environmental issues throughout the Synod.

He continues to minster to the congregation of Brighthelm URC, which meets for Holy Communion once a month and for prayer weekly on Tuesdays.

General overview of the year

The start of 2020 proved to be busy, with many booking and events taking place. However, by March 2020 we were forced to close our doors in response to the Covid 19 pandemic. We placed all staff on furlough in April 2020. The trustees took the opportunity of the lockdown to instruct a complete, much needed, re-fit of the lift, which took 2 months to carry out.

As restrictions slowly lifted, the Centre allowed support groups and other groups that were exempt to hire rooms. Towards the third quarter of 2020 the trustees agreed a slight change in activity within the Centre, and the first floor meeting rooms were changed in usage from meeting space to office space. As a result, we were able to welcome Arch Healthcare, who deliver their home visiting service from the Centre, Cascade Creative Recovery, who bring writing groups, choirs and dependency support groups, a private counselling service and a local tailors.

In the third quarter the trustees also decided to close the café , due to the cost of staffing that operation. The kitchen was rented to a local collaborative plant-based start up called Plant Stories. This group use the kitchen to produce their small, plant-based items, such as nourish packages and tofu.

The café area itself was refitted with dishwasher and a hot water heater to enable Brighthelm to still use the area. In the final quarter of the year the Centre began to come to more life, with a wider range of exempt groups returning to the building. We were able to accommodate a wide range of support groups, from alcohol and drug groups to youth groups. This was again limited as Christmas restrictions were introduced, and we closed for an extended Christmas period with 5 staff on furlough and 3 flexi-furloughed.

Katie Love, who became Brighthelm's sole General Manager during 2019, continued in this role throughout 2020, and has been an invaluable member of the staff.

Tenants

Brighthelm remains a popular space in which to have an office, and our tenants include: City Gate Church Buddies Tailoring Cascade Recovery Arch Healthcare Speak out Together Co

Page 2

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

Counsellors x 3 Pesticide Action Network Community Radio Plant Stories Kitchen

Brighthelm seeks to rent out office space at a fair rent, usually discounted for Christian, environmental and charitable entities.

Community Centre, Rooms and Spaces

Room hire is operated by Brighthelm Trading Limited on the same basis as our tenanted space. The Auditorium continues to be used for conferences, theatre, political and campaign meetings, and other social events.

70% of room hire is made by charities or local support groups, such as Alcoholic Anonymous, Weight Watchers. We were proud to be able to remain open to essential groups when restrictions allowed us.

FINANCIAL REVIEW

Financial review

The financial performance of Brighthelm Trading Limited was appreciably lower than budget, with a loss of £35,926, which was inevitable due to the Covid 19 pandemic and resultant restrictions.

Combined income across the Group was £373,545 in 2020 (2019: £486,899), which was inevitably down due to limited activity under restriction.

The balance sheet shows the value of the tangible assets to be £839,552 (2019: £844,794), which largely reflects Brighthelm's investment in the building with the increase being due to the lift refit. This will depreciate year on year, with the challenge to trustees and management being to maintain the building and fittings in excellent condition. The investment assets have reduced but have been revalued at £134,291 (£153,990).

Financial policy and outlook

It is the policy of the trustees to cover all operational expenses with a combination of grants, fees, investments and fundraising income.

The loss of £35,926 generated by Brighthelm Trading Limited was worse than expected but it is anticipated that the result in 2021 will be positive, subject to any continuing Covid 19 restrictions. Similarly, the result for the Trust is anticipated to be positive, albeit with the same caveat.

In regard to their responsibilities, trustees are aware that any restricted donations must be used to fund the projects for which the money was raised.

Investment policy and objectives

The investments are managed by Quilter Cheviot Investment managers, and the portfolio continues to exclude fossil fuel investments as well as anything outside the policy of the United Reformed Church.

Reserves policy

In Note 12 detailing information about the funds, the accounts show an income and expenditure account balance of £700,720 which is entirely made up of fixed assets. The remaining fund balances are held as cash and investment assets, which will therefore earn some dividends during 2021. Liquid funds stand at approximately £13K at the end of 2020.

With regard to the statutory duty of trustees to provide for redundancy costs in the unlikely event of Brighthelm needing to close, there is sufficient funding for these costs to be met from unrestricted funds.

Page 3

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

FINANCIAL REVIEW

Risk assessment

Trustees are aware of their responsibility to ensure that significant risks to which the Trust is exposed are identified, and to establish systems to manage those risks. The highest risk at present is to address the ongoing deficit, and progress will continue to be made to reduce this as explained elsewhere in the report.

FUTURE PLANS

It is intended to bring the operation to break even or better as soon as possible, and the trustees, together with the directors of Brighthelm Trading Limited, believe that this should be achievable in 2022 at the latest, bearing in mind the continuing restrictions of varying degrees for Covid 19.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Organisational structure

The Board of Trustees governs the Trust and meets at least four times a year to discuss and review strategy, planning, development and financial matters.

Brighthelm Trading Limited, a wholly owned subsidiary of the Trust, is governed by a management Board of Directors. The Board meets at least four times a year, and proceedings are made fully known to the trustees.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07266300 (England and Wales)

Registered Charity number

1137747

Registered office

Brighthelm Centre North Road Brighton East Sussex BN1 1YD

Trustees

J R Lane Rev A D Mabbs Ms C A Park (resigned 15/1/2020) Rev R D Wood Mrs L A Mason A Probert Mrs D Harrison

Company Secretary

Ms E A James

Page 4

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2020

REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner

P J Thacker FCA DChA Institute of Chartered Accountants in England and Wales Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA

Approved by order of the board of trustees on 21st December 2021 and signed on its behalf by:

J R Lane - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

Independent examiner's report to the trustees of Brighthelm Church And Community Centre Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

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 charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. the accounts 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 accounts to be reached.

P J Thacker FCA DChA Institute of Chartered Accountants in England and Wales Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA

23rd December 2021

Page 6

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST DECEMBER 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Other trading activities
2
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
Charitable activities
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
367
12,500
105,966
6,067
25,000
149,900
211,935
(6,261)
(68,296)
1,053,849
985,553		 Restricted
funds
£
-
-
-
-
-
-
2,543
-
(2,543)
3,986
1,443		 2020
Total
funds
£
367
12,500
105,966
6,067
25,000
149,900
214,478
(6,261)
(70,839)
1,057,835
986,996		 2019
Total
funds
£
17,056
5,335
56,244
9,735
-
88,370
167,312
20,319
(58,623)
1,116,458
1,057,835

The notes form part of these financial statements

Page 7

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)

BALANCE SHEET 31ST DECEMBER 2020

Notes
FIXED ASSETS
Tangible assets
8
Investments
9
CURRENT ASSETS
Debtors
10
Cash at bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
839,552
134,291
973,843
65,901
5,338
71,239
(59,529)
11,710
985,553
985,553		 Restricted
funds
£
-
-
-
-
1,443
1,443
-
1,443
1,443
1,443		 2020
Total
funds
£
839,552
134,291
973,843
65,901
6,781
72,682
(59,529)
13,153
986,996
986,996
985,553
1,443
986,996		 2019
Total
funds
£
844,794
153,990
998,784
64,512
8,188
72,700
(13,649)
59,051
1,057,835
1,057,835
1,053,849
3,986
1,057,835

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)

BALANCE SHEET - continued 31ST DECEMBER 2020

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 21st December 2021 and were signed on its behalf by:

J R Lane - Trustee

The notes form part of these financial statements

Page 9

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Preparation of consolidated financial statements

The financial statements contain information about Brighthelm Church And Community Centre Trust Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For donations to be recognised, the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS102).

For legacies, entitlement is when the charity has been notified of an impending distribution of the legacy. At this point income is recognised. On occasion, legacies will be notified to the charity but it is not possible the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity.Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

It is categorised under the following headings:

continued...

Page 10

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

1. ACCOUNTING POLICIES - continued

Expenditure

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grant. Where grants are conditional relating to performance, then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - Over the term of the lease Fixtures and fittings - 20% on reducing balance

Only individual Fixed Asset items costing more than £500 are capitalised.

Fixed Asset Investments

Investments which will not mature within 12 months of the Balance Sheet date are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted price. Any change in fair value is recognised in the statement of financial activities.

Cash on deposit and cash equivalents with a maturity of less than one year but more than three months which are held for investment purposes rather than to meet short-term cash commitments are recognised as current asset investments, initially at their transaction value and subsequently measured at their fair value as at the Balance Sheet date.

Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fund accounting

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

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

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.

continued...

Page 11

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

1. ACCOUNTING POLICIES - continued

Fund accounting

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.

2. OTHER TRADING ACTIVITIES

Rental income
Sundry income
3.
INVESTMENT INCOME
Dividend - equities
Management charge
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Independent Examiners Fee		 2020
£
78,341
27,625
105,966
2020
£
4,461
1,606
6,067
2020
£
61,383
2,250		 2019
£
55,299
945
56,244
2019
£
3,339
6,396
9,735
2019
£
50,280
2,250

continued...

Page 12

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.

Trustees' expenses

During the year expenses amounting to £432 were reimbursed to 2 Trustees (2019: £684 to 1 Trustee).

6. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Admin
No employees received emoluments in excess of £60,000.
Key management personnel remuneration amounted to £38,037 (2018: £48,209).
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
17,056
Charitable activities
Charitable activities
5,335
Other trading activities
56,244
Investment income
9,735
Total
88,370
EXPENDITURE ON
Charitable activities
Charitable activities
167,312
Net gains on investments
20,319		 2020
£
24,461
1,858
1,740
28,059
2020
6
Restricted
funds
£
-
-
-
-
-
-
-		 2019
£
32,277
2,104
855
35,236
2019
3
Total
funds
£
17,056
5,335
56,244
9,735
88,370
167,312
20,319

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 13

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
NET INCOME/(EXPENDITURE)
(58,623)
-
RECONCILIATION OF FUNDS
Total funds brought forward
1,112,472
3,986
TOTAL FUNDS CARRIED FORWARD
1,053,849
3,986
8.
TANGIBLE FIXED ASSETS
Improvements
Fixtures
to
and
property
fittings
£
£
COST
At 1st January 2020
1,085,424
104,379
Additions
-
56,141
At 31st December 2020
1,085,424
160,520
DEPRECIATION
At 1st January 2020
275,067
69,942
Charge for year
52,000
9,383
At 31st December 2020
327,067
79,325
NET BOOK VALUE
At 31st December 2020
758,357
81,195
At 31st December 2019
810,357
34,437		 Total
funds
£
(58,623)
1,116,458
1,057,835
Totals
£
1,189,803
56,141
1,245,944
345,009
61,383
406,392
839,552
844,794

continued...

Page 14

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

9. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in
group
Listed
Unlisted
undertakings
investments
investments
£
£
£
MARKET VALUE
At 1st January 2020
1
143,683
10,306
Additions
-
26,547
-
Disposals
-
(40,618)
(1,021)
Revaluations
-
(4,607)
-
At 31st December 2020
1
125,005
9,285
NET BOOK VALUE
At 31st December 2020
1
125,005
9,285
At 31st December 2019
1
143,683
10,306		 Totals
£
153,990
26,547
(41,639)
(4,607)
134,291
134,291
153,990

There were no investment assets outside the UK.

The subsidiary undertaking comprises the 100% investment in Brighthelm Trading Limited. The company was incorporated on 18 December 2013 and commenced trading on 1 April 2014. At 31 December 2020 its aggregate capital and reserves was -£34,408 (2019: £1,518). Due to the loss of £35,926, no gift aid donation was made from the Trading subsidiary to the Trust.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Amounts owed by group undertakings
VAT
Prepayments and accrued income		 2020
£
1,060
42,094
21,657
1,090
65,901		 2019
£
1,152
49,377
12,738
1,245
64,512

Page 15

continued...

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other creditors
Accrued expenses
MOVEMENT IN FUNDS
Unrestricted funds
Income and expenditure account
Capital appreciation fund
Designated repairs and maintenance fund
Restricted funds
Community Grant Scheme
Nature for Nippers
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
Income and expenditure account
149,900
Restricted funds
Community Grant Scheme
-
Nature for Nippers
-
-
TOTAL FUNDS
149,900		 At 1/1/20
£
769,016
164,833
120,000
1,053,849
2,486
1,500
3,986
1,057,835
Resources
expended
£
(211,935)
(2,486)
(57)
(2,543)
(214,478)		 2020
£
49,655
3,560
6,314
59,529
Net
movement
in funds
£
(68,296)
-
-
(68,296)
(2,486)
(57)
(2,543)
(70,839)
Gains and
losses
£
(6,261)
-
-
-
(6,261)		 2019
£
5,548
3,060
5,041
13,649
At
31/12/20
£
700,720
164,833
120,000
985,553
-
1,443
1,443
986,996
Movement
in funds
£
(68,296)
(2,486)
(57)
(2,543)
(70,839)

12. MOVEMENT IN FUNDS

Page 16

continued...

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/1/19
£
Unrestricted funds
Income and expenditure account
827,639
Capital appreciation fund
164,833
Designated repairs and maintenance fund
120,000
1,112,472
Restricted funds
Community Grant Scheme
2,486
Nature for Nippers
1,500
3,986
TOTAL FUNDS
1,116,458
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
Income and expenditure account
88,370
(167,312)
TOTAL FUNDS
88,370
(167,312)		 Net
movement
in funds
£
(58,623)
-
-
(58,623)
-
-
-
(58,623)
Gains and
losses
£
20,319
20,319		 At
31/12/19
£
769,016
164,833
120,000
1,053,849
2,486
1,500
3,986
1,057,835
Movement
in funds
£
(58,623)
(58,623)

Community Grant Scheme

These funds were donated by a benefactor to help fund meetings for small community groups and fledgling charities that do not yet possess the funds to meet at Brighthelm and added to by funds raised by Brighthelm Trust from a number of fundraising activities. Grants were awarded via an application process that involved applicants submitting their proposals to a subgroup of the Trustee Board. Awards were made quarterly with the express purpose of supporting excellent initiatives during start up with the expressed desire that these groups should grow and become regular customers of Brighthelm when better developed.

Nature for Nippers

These funds have designated to help raise funds for the improvements to be made to the Pre-School garden.

Capital appreciation fund

This fund represents the unrealised gains on revaluation of investment assets. The transfers in the year to the Income and Expenditure account relate to gains now realised on investment assets disposed of during the year.

continued...

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BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2020

12. MOVEMENT IN FUNDS - continued

Designated repairs and maintenance fund

Buildings belonging to the United Reformed Church undergo a Quinquennial Inspection every five years as the name suggests. The survey was conducted during 2015 by a chartered surveyor and a report has been produced detailing repairs and maintenance that needs to be conducted to the fabric of the building. Brighthelm had been last inspected in 2010 around the time the Brighthelm Trust was formed and the building was in poor repair. The new inspection shows that, at present, due to heavy expenditure from the reserves on both repairs and refurbishment the building is almost up to standard. This has now exhausted the Synod Capital Fund. Going forwards Trustees have designated a fund from unrestricted reserves of £100,000 on which there will be draws most likely starting with external works last undertaken in 2012 and further expenditure will be planned to meet the requirements of the 2015 Quinquennial inspection and maintain the building in its present state.

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2020.

14. THE UNITED REFORMED CHURCH (SOUTHERN SYNOD) LIMITED

The United Reformed Church (Southern Synod) Limited is the freeholder of the building occupied by the Trust. During the year Brighthelm Church and Community Centre Limited made payments of £34,734 (2019: £31,162) in respect of contributions.

15. BRIGHTHELM TRADING LIMITED

Subsidiary of the Trust

At the year end the Trust was owed £42,094 (2019: £49,376) which included £nil gift aid (2019: £nil). During 2014 the Trust provided a loan to its trading subsidiary amounting to £30,000. The loan balance repayable to the Trust at 31 December 2020 was £10,000 (2019: £10,000). During the year expenses were recharged from the Trust to the trading subsidiary amounting to £64,412 (2019: £132,555) and payments made in relation to these of £64,412 (2019: £136,389).

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