**REGISTERED COMPANY NUMBER: 07266300 (England and Wales) REGISTERED CHARITY NUMBER: 1137747**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FOR**
## **BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
Chariot House Limited Chartered Accountants
44 Grand Parade Brighton East Sussex BN2 9QA
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
**----- Start of picture text -----**
Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Notes to the Financial Statements 11 to 21
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**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
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 31 December 2023. 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.
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 31 DECEMBER 2023**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities Brighthelm's key strategic objectives are:**
- Open our doors to more people, providing offices and meeting spaces to all kinds of organisations and community groups so that they can further their objectives
- Actively support organisations most closely aligned to our vision and ethos, both through partnerships and providing access at preferential rates to Brighthelm's excellent facilities
- Work to embed our vision, and the values underlying it, in the welcome that we provide to people of other faiths and none in everything we do
- Facilitate educational work and create other opportunities to promote Brighthelm's vision
- Provide a Christian presence in the city centre and develop fresh expressions of church that will bring our vision to life
- Maintain the financial health of Brighthelm allowing the building to be maintained and the vision to be delivered
- Actively govern the objectives of our mission and mission from both higher and lower engagement from trustees and staff.
## **General overview of the year**
## **Staffing:**
Katie Love remained the General Manager in 2023 and reduced to part time towards the end of the year Our core staff remained, and our Booking Officer returned to her role after maternity leave. We welcomed an evening staff member, Ed, who delivers our evening and weekend events. We promoted Ewan to Building Manager to take on more compliance and health and safety responsibilities.
Towards the end of 2023 we introduced an external security/concierge role to the reception as a result of the antisocial behaviour that we have experienced. This has provided a robust front of house role for the centre, and we have benefited from this extra support.
## **Room Hire:**
In 2023 we hosted 3,759 events, an 18% increase from 2022. We have enjoyed seeing our space return to full activity and welcomed a range of events and groups in the centre. We held two different weekend-long dance festivals, the Great Escape Music Festival, The Chocolate Festival, Jing Massage, Seed Talks, Wrestling and many more!
We continue to create a safe space for community groups, including AA, NA, CA and many more. We welcomed the return of NHS and Local Authority meetings also.
Alongside these bookings, we also released our Activities Hall to be rented privately by Waterbear Music College. We were able to relocate bookings into other rooms in the centre.
We also rented out our café area to Afrori Books, meaning that area is no longer available to rent or use as a communal space. Instead our foyer area was developed to enable visitors to meet there instead.
By the end of 2023 the Brighthelm Centre rent out the Auditorium, Hanover Room, Chapel Room and Roof Room.
## **Office rental:**
Brighthelm Centre is a thriving office building, our tenants bring a sense of community into the space and deliver outstanding work in the community.
Page 2
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
In 2023 we welcomed Afrori Book into our former Café area. This highly regarded bookshop specialises in Black Authors and was awarded British Bookseller of the Year 2023. The bookshop is open for all to enjoy, and also serves coffee and cake.
Waterbear Music College moved into the Activities Hall, providing learning rooms and a drum studio for their students.
Impact Initiatives moved into the first floor office.
We remained fully let for the rest of 2023, making our tenant list:
Speak Out Waterbear Private Counselling services x4 Gems Wholesome Kitchen and Real Junk Food Project Buddies Alterations St Lukes Advice Service Impact Initiatives City Gate Church Pesticide Action Network Cascade Creative Recovery
## **Security:**
In 2023 we tackled our historical antisocial behaviour issues. Due to concern of site safety for staff and customers we took several proactive security measures. With thanks to a grant from the United Reformed Church, we installed new CCTV to cover all sides of the building, with great clarity to enable us to distinguish faces. We installed temporary heras fencing across the openings to the garden on Queens Road and Church Street. Upon installation we hired security guards to patrol the area 24/7 for 2 weeks. This high impact approach enabled us to operate safely, and make sure that new measures were visible. After the 2 weeks, we maintained one security guard during weekday opening hours to act as site concierge, and to patrol the garden hourly. The result of the above measures resulted in 90% drop in antisocial behaviour.
We are planning to apply for planning permission to install gates on these open entrances on Queens Road and Church Street, and plan to maintain the concierge service into 2024.
The whole site, tenants, staff and customers have been delighted with the difference and improvements.
Page 3
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FINANCIAL REVIEW**
## **Financial review**
## **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 deficit generated by Brighthelm Trading Limited and the Brighthelm Trust were due to extensive building works conducted on the building throughout the year. The essential security measures were also a large expense that was outside of our projected budget.
The essential works to the centre have resulted in increased compliance and safety measures, making us more resilient for the future.
The trustees agreed in 2023 that changes to our accounting were essential to ensure compliance and longevity to the centre, and as a result agreed that from 2024 we will combine both Trust and Trading Company, which will save us money and unify our expenditure.
We were very pleased to see areas of significant growth in both our Room hire and Tenancy income, without reliance on any covid or related grants. We have plans for 2024 to further increase these income opportunities. We acknowledge that by investing in a range of essential building works we have operated with a low level of liquid capital, this has been managed appropriately with scheduling works appropriately. We additionally acknowledge the impact of merging our trading and trust has exceptionally impacted our accounts, however we are reassured that this is an exceptional charge and not one that reflects our operational viability.
On closure of the trading company, the trust took over the assets and liabilities of the company and wrote off the intercompany balance. This resulted in additional liabilities of £31,201 and an exceptional cost of £100,240. The trust achieved an operating surplus of £34,829 prior to the merger of the two entities which provides the trustees with confidence that the charity is recovering from a difficult few years. The trustees are confident that operating through a single entity will result in reduced costs and greater transparency over the finances.
At 31st December 2023 the charity had £46,077 in unrestricted funds as well as £94,866 in realisable investments. The focus of 2024 will be increasing the amount of working capital available to the charity.
With 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**
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 £81,259 in general reserves. As of 31 December 2022 there is £91,379 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 made the decision to move the property to a designated fund in order to show the true operating reserves in the unrestricted fund.
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.
Page 4
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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. Whilst this wasn't achieved in 2023, the signs of growth across income streams is encouraging. The trustees have agreed the merger of Trust and Trading Company, and in 2023 hired Agutter Finances to take on our bookkeeping and financial oversight. They have begun with an investigation into our VAT responsibilities and have already proved themselves very capable in supporting Brighthelm into a fiscally reliable situation.
## **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 R D Wood Mrs L A Mason Mrs D Harrison Rev G T Allan
## **Company Secretary**
Ms E A James
Page 5
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Independent Examiner**
Dr Shona Wardrop CA Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Approved by order of the board of trustees on 16 October 2024 and signed on its behalf by:
J R Lane - Trustee
Page 6
**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 31 December 2023.
## **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.
Dr Shona Wardrop CA The Institute of Chartered Accountants of Scotland
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
29 October 2024
Page 7
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023**
|Designated
Unrestricted
property
funds
fund
Notes
£
£
**INCOME AND**
**ENDOWMENTS FROM**
Donations and legacies
18,157
-
Other trading activities
2
175,364
-
Investment income
3
1,198
-
**Total**
194,719
-
**EXPENDITURE ON**
**Charitable activities**
4
Charitable activities
165,910
52,000
Other
7
100,240
-
**Total**
266,150
52,000
Net gains/(losses) on
investments
6,021
-
**NET**
**INCOME/(EXPENDITURE)**
(65,410)
(52,000)
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
206,353
654,357
**TOTAL FUNDS CARRIED**
**FORWARD**
140,943
602,357|Restricted
funds
£
-
-
-
-
1,329
-
1,329
-
(1,329)
1,329
-|2023
Total
funds
£
18,157
175,364
1,198
194,719
219,239
100,240
319,479
6,021
(118,739)
862,039
743,300|2022
Total
funds
£
8,407
111,693
5,175
125,275
162,793
-
162,793
(15,485)
(53,003)
915,042
862,039|
|---|---|---|---|
The notes form part of these financial statements
Page 8
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)**
## **BALANCE SHEET**
## **31 DECEMBER 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
12
49,564
Investments
13
94,866
144,430
**CURRENT ASSETS**
Debtors
14
21,525
Cash at bank and in hand
23,497
45,022
**CREDITORS**
Amounts falling due within one
year
15
(33,109)
**NET CURRENT ASSETS**
11,913
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
156,343
**CREDITORS**
Amounts falling due after more
than one year
16
(15,400)
**NET ASSETS**
140,943
**FUNDS**
18
Unrestricted funds:
Income and expenditure account
Capital appreciation fund
Designated repairs and maintenance fund
Designated property fund
Designated investment fund
Restricted funds
**TOTAL FUNDS**|Designated
property
fund
£
602,357
-
602,357
-
-
-
-
-
602,357
-
602,357|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-|2023
Total
funds
£
651,921
94,866
746,787
21,525
23,497
45,022
(33,109)
11,913
758,700
(15,400)
743,300
46,077
-
-
602,357
94,866
743,300
-
743,300|2022
Total
funds
£
705,055
118,432
823,487
42,135
9,015
51,150
(12,598)
38,552
862,039
-
862,039
206,353
164,833
120,000
369,524
-
860,710
1,329
862,039|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
continued...
Page 9
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED (REGISTERED NUMBER: 07266300)**
## **BALANCE SHEET - continued 31 DECEMBER 2023**
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 16 October 2024 and were signed on its behalf by:
J R Lane - Trustee
The notes form part of these financial statements
Page 10
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **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:
- Costs of raising funds includes investment management fees, Brighthelm Grant Scheme, lettings fees, catering and volunteering
continued...
Page 11
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Expenditure**
- Expenditure on charitable activities includes provision of community facilities, church costs and pre-school costs
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.
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.
continued...
Page 12
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**2.**
**OTHER TRADING ACTIVITIES**
2023
£
Rental income
175,364
**3.**
**INVESTMENT INCOME**
2023
£
Dividend - equities
1,150
Deposit account interest
48
Management charge
-
1,198
**4.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Support
Costs (see
costs (see
note 5)
note 6)
£
£
Charitable activities
13,980
205,259
**5.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
2023
£
Staff costs
-
Investment management fees
737
Ministry Costs (National URC Trust Contribution)
12,500
Bad debts
-
Loss on sale of assets
743
13,980
**6.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Charitable activities
192,813
12,446|2022
£
111,693|2022
£
111,693|
|---|---|---|
||2022
£
2,506
18
2,651
5,175
Totals
£
219,239||
||2022
£
11,610
1,599
7,130
785
1,584
22,708
Totals
£
205,259|2022
£
11,610
1,599
7,130
785
1,584|
|||22,708|
continued...
Page 13
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. OTHER**
|**OTHER**||||
|---|---|---|---|
||2023|2022||
||£|£||
|Exceptional items|100,240||-|
At the end of 2023, the subsidiary trading company ceased trading and the trust took on the assets and liabilities of the company. Exceptional costs are the write off of the trading company's net deficit at 31 December 2023.
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2023|2022|
|---|---|---|
||£|£|
|Depreciation - owned assets|64,391|65,424|
|Deficit on disposal of fixed assets|743|1,584|
|Independent Examiners Fee|2,450|2,350|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
During the year expenses amounting to £146 were reimbursed to 1 Trustee (2022: £353 to 1 Trustee).
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Admin|2023
£
-
-
-
-
2023
-|2022
£
10,617
478
515|
|---|---|---|
|||11,610|
|||2022
6|
No employees received emoluments in excess of £60,000.
No staff costs were recharged from the trading subsidiary to the trust during 2023.
Key management personnel remuneration, which is split between the charity and the trading subsidiary, amounted to £NIL (2022: £42,698).
continued...
Page 14
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Designated
Unrestricted
property
funds
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2,907
-
Other trading activities
111,693
-
Investment income
5,175
-
**Total**
119,775
-
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
105,293
52,000
Net gains/(losses) on investments
(15,485)
-
**NET INCOME/(EXPENDITURE)**
(1,003)
(52,000)
**Transfers between funds**
(421,524)
421,524
**Net movement in funds**
(422,527)
369,524
**RECONCILIATION OF FUNDS**
Total funds brought forward
628,880
284,833
**TOTAL FUNDS CARRIED FORWARD**
206,353
654,357|Restricted
funds
£
5,500
-
-
5,500
5,500
-
-
-
-
1,329
1,329|Total
funds
£
8,407
111,693
5,175
125,275
162,793
(15,485)
(53,003)
-
(53,003)
915,042
862,039|
|---|---|---|
Page 15
continued...
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**12.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2023
Additions
Disposals
At 31 December 2023
**DEPRECIATION**
At 1 January 2023
Charge for year
Eliminated on disposal
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
**13.**
**FIXED ASSET INVESTMENTS**
Shares in
group
undertakings
£
**MARKET VALUE**
At 1 January 2023
1
Additions
-
Disposals
(1)
Revaluations
-
At 31 December 2023
-
**NET BOOK VALUE**
At 31 December 2023
-
At 31 December 2022
1|Improvements
to
property
£
1,085,424
-
-
1,085,424
431,067
52,000
-
483,067
602,357
654,357
Listed
investments
£
113,900
12,222
(40,117)
5,387
91,392
91,392
113,900|Fixtures
and
fittings
£
151,638
12,000
(3,080)
160,558
100,940
12,391
(2,337)
110,994
49,564
50,698
Unlisted
investments
£
4,531
-
(1,057)
-
3,474
3,474
4,531|Totals
£
1,237,062
12,000
(3,080)
1,245,982
532,007
64,391
(2,337)
594,061
651,921
705,055
Totals
£
118,432
12,222
(41,175)
5,387
94,866
94,866
118,432|
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
There were no investment assets outside the UK.
Page 16
continued...
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13. FIXED ASSET INVESTMENTS - continued**
Cost or valuation at 31 December 2023 is represented by:
|Shares in
group
Listed
Unlisted
undertakings
investments
investments
£
£
£
Valuation in 2022
1
135,027
5,481
Valuation in 2023
-
(21,127)
(950)
Valuation in 2024
(1)
(22,508)
(1,057)
-
91,392
3,474
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2023
£
Trade debtors
18,826
Other debtors
581
Prepayments and accrued income
2,118
21,525|Totals
£
140,509
(22,077)
(23,566)|Totals
£
140,509
(22,077)
(23,566)|
|---|---|---|
|||94,866|
|||2022
£
1,475
38,817
1,843|
|||42,135|
## **14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other loans (see note 17)
Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses|2023
£
8,600
8,044
1,826
69
6,670
7,900
33,109|2022
£
-
432
-
1,012
7,632
3,522|
|---|---|---|
|||12,598|
continued...
Page 17
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|Other loans (see note 17)
**17.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
Amounts falling between one and two years:
Other loans - 1-2 years
**18.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
Income and expenditure account
Capital appreciation fund
Designated repairs and maintenance fund
Designated property fund
Designated investment fund
**Restricted funds**
Nature for Nippers
**TOTAL FUNDS**|At 1/1/23
£
206,353
164,833
120,000
369,524
-
860,710
1,329
862,039|Net
movement
in funds
£
(71,431)
-
-
(52,000)
6,021
(117,410)
(1,329)
(118,739)|2023
£
15,400
2023
£
8,600
15,400
Transfers
between
funds
£
(88,845)
(164,833)
(120,000)
284,833
88,845
-
-
-|2022
£
-
2022
£
-
-
At
31/12/23
£
46,077
-
-
602,357
94,866|2022
£
-|
|---|---|---|---|---|---|
||||||2022
£
-|
||||||-|
|||||743,300
-||
|||||743,300||
continued...
Page 18
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **18. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Income and expenditure account
Designated property fund
Designated investment fund
**Restricted funds**
Nature for Nippers
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
Income and expenditure account
Capital appreciation fund
Designated repairs and maintenance fund
Designated property fund
**Restricted funds**
Nature for Nippers
**TOTAL FUNDS**|Incoming
resources
£
194,719
-
-
194,719
-
194,719
At 1/1/22
£
628,880
164,833
120,000
-
913,713
1,329
915,042|Resources
expended
£
(266,150)
(52,000)
-
(318,150)
(1,329)
(319,479)
Net
movement
in funds
£
(1,003)
-
-
(52,000)
(53,003)
-
(53,003)|Gains and
Movement
losses
in funds
£
£
-
(71,431)
-
(52,000)
6,021
6,021
6,021
(117,410)
-
(1,329)
6,021
(118,739)
Transfers
between
At
funds
31/12/22
£
£
(421,524)
206,353
-
164,833
-
120,000
421,524
369,524
-
860,710
-
1,329
-
862,039|
|---|---|---|---|
continued...
Page 19
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **18. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
Income and expenditure account
Designated property fund
**Restricted funds**
Bernard Sunley Foundation
Sussex PCC
**TOTAL FUNDS**|Incoming
resources
£
119,775
-
119,775
5,000
500
5,500
125,275|Resources
expended
£
(105,293)
(52,000)
(157,293)
(5,000)
(500)
(5,500)
(162,793)|Gains and
Movement
losses
in funds
£
£
(15,485)
(1,003)
-
(52,000)
(15,485)
(53,003)
-
-
-
-
-
-
(15,485)
(53,003)|
|---|---|---|---|
## **Nature for Nippers**
These funds have designated to help raise funds for the improvements to be made to the Pre-School garden.
There are two designated funds which set aside non-current assets in order to clearly and more accurately show the liquid funds available to the charity -
## **Designated property fund**
This fund represents the year end Net Book Value of the Leasehold Property Improvements
## **Designated investments fund**
This fund represents year end valuation of the realisable investments held by brokers.
## **19. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
## **20. 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 £12,500 (2022: £7,130) in respect of contributions.
continued...
Page 20
**BRIGHTHELM CHURCH AND COMMUNITY CENTRE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **21. BRIGHTHELM TRADING LIMITED**
## Subsidiary of the Trust
The trading subsidiary ceased to trade on 31st December 2023 at which point the Trust took ownership of the trading company's assets and liabilities. This included writing off the intercompany balance of £96,067 owed to the Trust.
Page 21