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2021-12-31-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 2021

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 2021

----- 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
----- End of picture text -----

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

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021

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 2021. 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

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.

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

  2. 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 2021

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

Rev Alex Mabbs left Brighthelm in Q3 of 2021. He was instrumental in the operational and strategic mission for Brighthelm, especially in supporting the general manager through many changes. Brighthelm would like to thank Rev Alex Mabbs for all that he brought to Brighthelm. The trustees continue to deliver a monthly communion service for our congregation, and held a missional away day in response to Alex's departure to ensure that Brighthelm remains an open, welcoming place of worship.

General overview of the year

The start of 2021 continued to be restricted with Covid affecting our capacity. In Quarter 1 we had 10 different groups using the building for meetings, by Quarter 2 this had increased to 32. By the end of 2021 we had over 90 different organisations booking at Brighthelm.

The furlough scheme ended in September 2021, we begun a consultation period with our furloughed staff in August. As we closed our café in 2020, our barista found alternative work and left us in July 2021. 2 members of staff also found other employment and when restrictions lifted in September, we welcomed back our bookings officer and our maintenance officer. We operated as a team of 6 staff for the remainder of 2021. Katie Love remained the general manager throughout 2021.

We continued to accommodate a wide range of support groups, from alcohol and drug groups to youth groups. We were also able to donate our space to local schools, including Brighton College. We were able to host their year 8 performance that would have been cancelled due to covid restrictions in the school. We also partnered with Middle Street Primary School to support their year 6 end of term performance, which was very rewarding given that many of those children had spent much of year 6 online. Furthering our mission of the advancement of education, we partnered with Free University, who were able to deliver some of their seminars in our space.

We remained fully let for all of 2021, with the new tenants from 2020 settling into the centre very well. The plant stories kitchen collaboration continued in the kitchen and the redesigned café area allows Brighthelm customers to benefit from the café area, whilst brining their own tea and coffee. This has created a friendly collaborative feel to the centre, giving more tenants and customers the chance to get to know eachother.

We provided some security services to relieve the antisocial behaviour in the garden area, to allow us to welcome markets and events back into the space safely.

Tenants

In 2021 our tenants included:

Page 2

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

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021

City Gate Church Buddies Tailoring Cascade Recovery Arch Healthcare Speak out Together Co Counsellors x 3 Pesticide Action Network Community Radio Plant Stories Kitchen

Brighthelm seeks to rent out office space at a fair rent, 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 continued to be used for conferences, theatre, political and campaign meetings, and other social events. Most notably we hosted the World Transformed conference in September 2021. We also hosted weddings, massage training and concerts, showing the return of larger events and customer confidence.

Over 80% of room hire was 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 and to build back into larger capacity, mostly evident through Quarter 2 and 3. This was hampered by further Covid restrictions by the end of the year.

We began work on furthering our mission and strategic plan, agreeing to a theme of restoration for 2022.

FINANCIAL REVIEW

Financial review

The financial performance of Brighthelm Trading Limited was appreciably lower than budget, with a profit of £3,619, which was inevitable due to the Covid 19 pandemic and resultant restrictions.

Combined income across the Group was £319,894 in 2021 (2020: £373,545), which was inevitably down due to limited activity under restriction.

The balance sheet shows the value of the tangible assets to be £772,063 (2021: £839,552), 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 £140,509 (£134,291).

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 profit of £3,619 generated by Brighthelm Trading Limited was worse than expected but it is anticipated that the result in 2022 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.

Page 3

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

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021

FINANCIAL REVIEW

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

The Brighthelm is committed to using its resources in pursuit of its charitable objectives. It is also committed however to maintaining a level of reserves that is prudent to meeting on-going liabilities. In seeking to balance these priorities, the trustees have agreed that, it is prudent to hold a level of reserves that equates to 3 months of operational expenditure. 3 Months of operational reserves based on budgeted expenditure relate to requiring £93,615 in general reserves. As of 31 December 2021 there is £141,660 in general reserves. The future financial outlook is to pursue a policy of sustaining reserves, both by diversifying income generation and by continuing to effectively manage resources. The trustees are confident they have sufficient reserves for funding forthcoming commitments in the coming year. The Board of Trustees monitors the level of reserves and takes appropriate action if reserves fall outside the desired range

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.

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

Page 4

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

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2021

Registered office

Brighthelm Centre North Road Brighton East Sussex BN1 1YD

Trustees

J R Lane Rev A D Mabbs (resigned 31/7/2021) Rev R D Wood Mrs L A Mason A Probert Mrs D Harrison G T Allan (appointed 17/1/2022)

Company Secretary

Ms E A James

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 18th October 2022 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 2021.

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

26th October 2022

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 2021

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
£
3,137
-
106,041
5,002
-
114,180
199,032
13,012
(71,840)
985,553
913,713		 Restricted
funds
£
-
-
-
-
-
-
114
-
(114)
1,443
1,329		 2021
Total
funds
£
3,137
-
106,041
5,002
-
114,180
199,146
13,012
(71,954)
986,996
915,042		 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

The notes form part of these financial statements

Page 7

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

BALANCE SHEET 31ST DECEMBER 2021

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
£
772,063
140,509
912,572
11,752
13,406
25,158
(24,017)
1,141
913,713
913,713		 Restricted
funds
£
-
-
-
-
1,329
1,329
-
1,329
1,329
1,329		 2021
Total
funds
£
772,063
140,509
912,572
11,752
14,735
26,487
(24,017)
2,470
915,042
915,042
913,713
1,329
915,042		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 2021

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 18th October 2022 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 2021

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 2021

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 2021

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		 2021
£
106,041
-
106,041
2021
£
2,351
2,651
5,002
2021
£
67,489
2,350		 2020
£
78,341
27,625
105,966
2020
£
4,461
1,606
6,067
2020
£
61,383
2,250

continued...

Page 12

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020.

Trustees' expenses

During the year expenses amounting to £266 were reimbursed to 1 Trustee (2020: £432 to 2 Trustees).

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		 2021
£
13,540
1,067
920
15,527
2021
6		 2020
£
24,461
1,858
1,740
28,059
2020
6

No employees received emoluments in excess of £60,000.

Key management personnel remuneration, which is split between the charity and the trading subsidiary, amounted to £40,234 (2020: £38,037).

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
Charitable activities		 Unrestricted
funds
£
367
12,500
105,966
6,067
25,000
149,900
211,935		 Restricted
funds
£
-
-
-
-
-
-
2,543		 Total
funds
£
367
12,500
105,966
6,067
25,000
149,900
214,478

continued...

Page 13

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Net gains/(losses) on investments
(6,261)
-
NET INCOME/(EXPENDITURE)
(68,296)
(2,543)
RECONCILIATION OF FUNDS
Total funds brought forward
1,053,849
3,986
TOTAL FUNDS CARRIED FORWARD
985,553
1,443
8.
TANGIBLE FIXED ASSETS
Improvements
Fixtures
to
and
property
fittings
£
£
COST
At 1st January 2021 and 31st December 2021
1,085,424
160,520
DEPRECIATION
At 1st January 2021
327,067
79,325
Charge for year
52,000
15,489
At 31st December 2021
379,067
94,814
NET BOOK VALUE
At 31st December 2021
706,357
65,706
At 31st December 2020
758,357
81,195		 Total
funds
£
(6,261)
(70,839)
1,057,835
986,996
Totals
£
1,245,944
406,392
67,489
473,881
772,063
839,552

continued...

Page 14

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021

9. FIXED ASSET INVESTMENTS

Shares in
group
Listed
Unlisted
undertakings
investments
investments
£
£
£
MARKET VALUE
At 1st January 2021
1
125,005
9,285
Additions
-
52,477
-
Disposals
-
(55,467)
(3,804)
Revaluations
-
13,012
-
At 31st December 2021
1
135,027
5,481
NET BOOK VALUE
At 31st December 2021
1
135,027
5,481
At 31st December 2020
1
125,005
9,285
There were no investment assets outside the UK.		 Totals
£
134,291
52,477
(59,271
13,012
140,509
140,509
134,291

Cost or valuation at 31st December 2021 is represented by:

Shares in
group Listed Unlisted
undertakings investments investments Totals
£ £ £ £
Valuation in 2022 1 135,027 5,481 140,509

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 2021 its aggregate capital and reserves was -£30,789 (2020: -£34,408). Due to the losses brought forward, 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
Other debtors
VAT
Prepayments and accrued income		 2021
£
4,629
-
6,023
-
1,100
11,752		 2020
£
1,060
42,094
-
21,657
1,090
65,901

Page 15

continued...

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
VAT
Other creditors
Amounts owed to group undertakings
Accrued expenses
12.
MOVEMENT IN FUNDS
Unrestricted funds
Income and expenditure account
Capital appreciation fund
Designated repairs and maintenance fund
Restricted funds
Nature for Nippers
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
Income and expenditure account
114,180
Restricted funds
Nature for Nippers
-
TOTAL FUNDS
114,180		 At 1/1/21
£
700,720
164,833
120,000
985,553
1,443
986,996
Resources
expended
£
(199,032)
(114)
(199,146)		 2021
2020
£
£
723
49,655
3,475
-
5,946
3,560
8,058
-
5,815
6,314
24,017
59,529
Net
movement
At
in funds
31/12/21
£
£
(71,840)
628,880
-
164,833
-
120,000
(71,840)
913,713
(114)
1,329
(71,954)
915,042
Gains and
Movement
losses
in funds
£
£
13,012
(71,840)
-
(114)
13,012
(71,954)

Page 16

continued...

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/1/20
£
Unrestricted funds
Income and expenditure account
769,016
Capital appreciation fund
164,833
Designated repairs and maintenance fund
120,000
1,053,849
Restricted funds
Community Grant Scheme
2,486
Nature for Nippers
1,500
3,986
TOTAL FUNDS
1,057,835
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
Income and expenditure account
149,900
(211,935)
Restricted funds
Community Grant Scheme
-
(2,486)
Nature for Nippers
-
(57)
-
(2,543)
TOTAL FUNDS
149,900
(214,478)		 Net
movement
in funds
£
(68,296)
-
-
(68,296)
(2,486)
(57)
(2,543)
(70,839)
Gains and
losses
£
(6,261)
-
-
-
(6,261)		 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)

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.

continued...

Page 17

BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2021

12. MOVEMENT IN FUNDS - continued

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.

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 £120,000 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 2021.

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 £12,951 (2020: £34,734) in respect of contributions.

15. BRIGHTHELM TRADING LIMITED

Subsidiary of the Trust

At the year end the Trust owed the subsidiary £8,057 (2020: was owed £42,094) which included £nil gift aid (2020: £nil). During the year expenses were recharged from the Trust to the trading subsidiary amounting to £46,095 (2020: £64,412) and payments made in relation to these of £46,095 (2020: £64,412).

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