**REGISTERED COMPANY NUMBER: 07436799 (England and Wales) REGISTERED CHARITY NUMBER: 1140637**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **FOR THE CHARIS TRUST**
Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
**THE CHARIS TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**|7|to|8|
|**Cash Flow Statement**||9||
|**Notes to the Cash Flow Statement**||10||
|**Notes to the Financial Statements**|11|to|21|
## **THE CHARIS TRUST (REGISTERED NUMBER: 07436799)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
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 March 2022. 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 objects of the charity are specifically restricted to the following:
- the furtherance of religious or secular education,
- the advancement of tenets of the Christian faith either in the United Kingdom or overseas,
- the relief of the poor and needy,
- the help and comfort of the sick and the aged, and
- the advancement of any religious or other exclusively charitable purpose not inconsistent with the clauses above which may from time to time commend itself to the Board of Trustees.
The charity meets these objectives by the making of grants to other charities and individuals as the trustees consider appropriate. The charity awards grants to educational establishments and individuals to support Christian Ministry training, in the United Kingdom and overseas. It provides financial contributions towards Church building and planting, supporting Christian Ministry in a variety of ways and for projects worldwide. The trustees are mindful of the needs of the poor, needy, sick, aged and disadvantaged in our community and seek to provide relief by awarding grants to individuals and supporting other charities and projects working in this area.
## **Significant activities**
The Trustees consider that its grant making activities and the management of the charity's property portfolio are its significant activities.
## **Public benefit**
When planning activities for the year, the trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. Whilst some of the activities directly benefit the advancement of the Christian faith the charity is outward looking seeking to alleviate suffering for anyone disadvantaged by illness, disfigurement, financial and emotional challenges in our society.
## **Grantmaking**
The trustees continue to be mindful and to consider prayerfully the many requests for assistance that fall within the objectives and aims of the charity, whilst seeking to be wise in the stewardship of the resources they have been given. The majority of the grant funding made by the charity is to support other charitable institutions and their projects. It is also mindful of the needs of the poor and needy in society and directly supports the needs of those disadvantaged by illness, poverty or bereavement by contributing to education, medical expenses and to support them wherever needed. It also provides support to individuals training for Christian ministry or involved in Christian outreach projects.
Further details of the grants made during this period are given in the notes to the accounts
## **Volunteers**
Whilst some administration and maintenance functions are outsourced, the charity's day to day operations are reliant on the support of unpaid volunteers, who provide help to the Trustees and to individuals being assisted by the charity. The varied nature of this support and time given make it impossible to quantify the time spent or number of people involved.
In addition the charity's trustees all serve on a voluntary basis.
Page 1
## **THE CHARIS TRUST (REGISTERED NUMBER: 07436799)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year the Trustees have made grants totalling £1,346,311 of which over 95% were to other charitable institutions, whose aims satisfy its charitable objectives. Grants of £1,129,448 were made towards religious education including support of Christian Ministry in both the United Kingdom and overseas, £38,600 towards social welfare which include grants made to charities supporting those with special educational needs, mental health difficulties, for the relief and education of orphaned, deprived or abandoned children both in the United Kingdom and overseas. Finally, grants of £178,263 were made to charities and individuals to relieve mental and physical illness including disfigurement, cancer, and disease and for terminally ill children.
The trustees endeavour to ensure that the benefits arising from the grants made are beneficial for all regardless of age, race, gender, class or religion.
A comprehensive summary of those given grant funding by the charity is provided in the notes to the financial statements.
The charity owns a number of properties which it uses to provide accommodation for those employed in Christian Ministry, training for Ministry, widows, retired ministers, the aged and disadvantaged in the community. The accommodation these properties provide enable many to live in the vicinity of their Church and benefit from Christian support, both physically and spiritually. In addition, these properties enable Church Ministers and their families to live close to the Church and be involved in the wider community. The trustees believe that their presence means that all areas of that community benefit from the Christian values that underpin our society.
The retirement complex at Quinlan Court continues to be in demand, providing both owned and rented accommodation for those who qualify in accordance with the objectives of the charity.
The two Woodpecker bungalows continue to be occupied by a Christian ministry trainee and a disabled Christian disabled lady.
In the year, two of the Mill Lane houses continued to be let to Danbury Mission for the occupation of church ministers. The remaining property was let to a young Christian family in need of support due to family illness. After the year end this family moved and the house was subsequently let to Danbury Mission to house a new minister and his family, thus fulfilling the original purpose for these properties.
## **Fund- raising standards**
Though the charity welcomes funds from the public, donations are usually received from related parties. No donations were received this year.
## **Investment performance**
At the balance sheet date listed fixed asset investments held by the charity are reported at a market value of £3,996,385. This figure is £317,276 higher than original cost.
Page 2
## **THE CHARIS TRUST (REGISTERED NUMBER: 07436799)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **FINANCIAL REVIEW**
## **Reserves policy**
Free reserves available for use exclude restricted funds and tangible fixed assets. The trustees review the level of the reserves required each year to be held in investments and cash. The trustees also consider the risk of exposure to any significant loss of income or unforeseen costs. The fall in donations received has continued, as expected, and is unlikely to resume its previous level due to the retirement of the main donor.
The financial ability of the Charity to provide both capital and operational grants to projects which meet its objectives in the longer term has been considered by the trustees. The trustees have concluded that the unrestricted reserves of £12,092,556 which include fixed assets of £3,900,739 are sufficient to meet that need.
Unrestricted free reserves of £8,191,817 (2021 - £8,755,517) were held at the balance sheet date. The trustees are considering future capital expenditures and therefore intend to retain the current level of free reserves until a decision is taken over that expenditure.
Other than the amounts disclosed in the notes to the financial statements, there were no material amounts designated or otherwise committed at the end of the reporting period.
The trustees are mindful of the restricted funds of £139,557 and the conditions attached. The trustees will continue to critically review outgoings that may satisfy these restrictions so as to utilise these funds.
## **FUTURE PLANS**
The Board of Trustees will continue to consider requests for assistance that fall within the objectives and aims of the charity and to manage the charity's property portfolio.
The trustees continue to support other charities and individuals many of whom have been directly affected by the Coronavirus pandemic. The Charity's free financial reserves enable its current level of activity to continue thus it will continue to support these organisations enabling them to maintain the services and support they in turn provide.
## **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.
## **Recruitment and appointment of new trustees**
The Board of Trustees is authorised to appoint new trustees to fill vacancies arising. During the year J J M Bird was welcomed to the Board.
## **Organisational structure**
The size of the charity means that both day to day issues and key decisions can be dealt with by the Board of Trustees. The Board meets regularly to decide the strategic direction the charity should take and set the financial targets going forward.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
07436799 (England and Wales)
## **Registered Charity number**
1140637
## **Registered office**
Woodham View Little Baddow Road Woodham Walter Maldon Essex CM9 6RP
Page 3
## **THE CHARIS TRUST (REGISTERED NUMBER: 07436799)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
**Trustees** A C Green Mrs J M Green A J Barker J P B Harris FCA R J Green J J M Bird (appointed 1.10.21)
## **Independent Examiner**
Robert Howe BEng FCA Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. A C Green - Trustee
Page 4
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHARIS TRUST**
## **Independent examiner's report to the trustees of The Charis Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **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.
Robert Howe BEng FCA Goldwyns Limited Chartered Accountants Rutland House 90-92 Baxter Avenue Southend on Sea Essex SS2 6HZ
Date: .............................................
Page 5
## **THE CHARIS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
General charitable work
Investment income
2
**Total**
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
General charitable work
Religious education
Social welfare
Medical welfare
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
fund
fund
£
£
65,289
-
95,430
-
160,719
-
8,517
-
18,984
-
1,129,448
-
38,600
-
178,263
-
1,373,812
-
730,555
-
(482,538)
-
12,575,094
139,557
12,092,556
139,557|2022
Total
funds
£
65,289
95,430
160,719
8,517
18,984
1,129,448
38,600
178,263
1,373,812
730,555
(482,538)
12,714,651
12,232,113|2021
Total
funds
£
66,661
12,572
79,233
2,588
2,021
540,870
66,506
102,599
714,584
361,031
(274,320)
12,988,971
12,714,651|
|---|---|---|---|
The notes form part of these financial statements
Page 6
## **THE CHARIS TRUST (REGISTERED NUMBER: 07436799)**
## **BALANCE SHEET 31 MARCH 2022**
|Notes
**FIXED ASSETS**
Tangible assets
12
Investments
13
**CURRENT ASSETS**
Debtors
14
Cash at bank
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
Restricted
fund
fund
£
£
3,900,739
-
3,996,385
-
7,897,124
-
514,636
-
3,687,410
139,557
4,202,046
139,557
(6,614)
-
4,195,432
139,557
12,092,556
139,557
12,092,556
139,557|2022
Total
funds
£
3,900,739
3,996,385
7,897,124
514,636
3,826,967
4,341,603
(6,614)
4,334,989
12,232,113
12,232,113
12,092,556
139,557
12,232,113|2021
Total
funds
£
3,819,577
3,282,626
7,102,203
491,898
5,150,931
5,642,829
(30,381)
5,612,448
12,714,651
12,714,651
12,575,094
139,557
12,714,651|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
## 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.
The notes form part of these financial statements
Page 7
continued...
## **THE CHARIS TRUST (REGISTERED NUMBER: 07436799)**
## **BALANCE SHEET - continued 31 MARCH 2022**
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 ............................................. and were signed on its behalf by:
............................................. A C Green - Trustee
The notes form part of these financial statements
Page 8
## **THE CHARIS TRUST**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of tangible fixed assets
Sale of fixed asset investments
Interest received
Dividends received
Net cash provided by investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|2022
£
(1,413,438)
(1,413,438)
(817,324)
(2,527,868)
794,572
2,544,664
66
95,364
89,474
(1,323,964)
5,150,931
3,826,967|2021
£
(937,821)
(937,821)
(192,290)
(2,881,958)
1,390,882
2,264,772
79
12,493
593,978
(343,843)
5,494,774
5,150,931|
|---|---|---|
The notes form part of these financial statements
Page 9
## **THE CHARIS TRUST**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**ACTIVITIES**|||
|---|---|---|
|**Net expenditure for the reporting period (as per the Statement**
**of Financial Activities)**
**Adjustments for:**
Depreciation charges
Gain on investments
Profit on disposal of fixed assets
Interest received
Dividends received
Increase in debtors
Decrease in creditors
**Net cash used in operations**|2022
£
(482,538)
9,288
(730,555)
(67,698)
(66)
(95,364)
(22,738)
(23,767)
(1,413,438)|2021
£
(274,320)
5,735
(361,031)
(111,443)
(79)
(12,493)
(131,654)
(52,536)|
|||(937,821)|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**
Cash at bank
**Total**|At 1.4.21
£
5,150,931
5,150,931
5,150,931|Cash flow
£
(1,323,964)
(1,323,964)
(1,323,964)|At 31.3.22
£
3,826,967|
|---|---|---|---|
||||3,826,967|
||||3,826,967|
The notes form part of these financial statements
Page 10
**THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **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.
## **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.
## **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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Allocation and apportionment of costs**
Resources expended are allocated to the particular activity where the cost relates to that activity. Where applicable, resources expended include VAT that cannot be recovered.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- Straight line over 3 years
No depreciation has been charged on freehold properties because, in the opinion of the trustees, the estimated residual value of the freehold properties is in excess of the carrying amounts in the financial statements..
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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.
## **Investments**
Listed investments, or those whose fair value can otherwise be measured reliably, are initially recognised at transaction price and subsequently measured at fair value, with changes recognised in the Statement of Financial Activities.
Page 11
continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Investments**
Unlisted investments, except those whose fair value can be measured reliably, are initially recognised at transaction price and are subsequently measured at cost less impairment.
## **2. INVESTMENT INCOME**
|Dividends received
Deposit account interest
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Rent receivable
General charitable work
**4.**
**RAISING FUNDS**
**Investment management costs**
Support costs
**5.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs (see
note 6)
£
General charitable work
(17,270)
Religious education
-
Social welfare
-
Medical welfare
-
(17,270)|Grant
funding of
activities
(see note
7)
£
-
1,129,448
38,600
178,263
1,346,311|2022
£
95,364
66
95,430
2022
£
65,289
2022
£
8,517
Support
costs (see
note 8)
£
36,254
-
-
-
36,254|2021
£
12,493
79
12,572
2021
£
66,661
2021
£
2,588
Totals
£
18,984
1,129,448
38,600
178,263|2021
£
12,493
79|2021
£
12,493
79|
|---|---|---|---|---|---|
|||||12,572||
|||||2021
£
66,661||
||||||2021
£
2,588|
||||1,365,295|||
Page 12
continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **6. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|Rates and water
Insurance
Light and heat
Property maintenance
Profit on sale of assets
**7.**
**GRANTS PAYABLE**
Religious education
Social welfare
Medical welfare|2022
£
2,963
2,665
737
44,063
(67,698)
(17,270)
2022
£
1,129,448
38,600
178,263
1,346,311|2021
£
3,004
2,329
939
83,348
(111,443)
(21,823)
2021
£
540,870
66,506
102,599
709,975|
|---|---|---|
Page 13
continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **7. GRANTS PAYABLE - continued**
The total grants paid to institutions during the year was as follows:
|**GRANTS PAYABLE - continued**
The total grants paid to institutions during the year was as follows:|||
|---|---|---|
||2022|2021|
||£|£|
|Family in Trust - to assist with the cost of repairs to property used for|||
|charitable purposes and a grant to enable employment of a support|||
|worker|57,679|118,106|
|Danbury Mission Evangelical Church - support of Christian Ministry|118,049|55,100|
|Bringing Good News - towards a Christian charity's work in Pakistan|5,000|5,000|
|Wycliffe Bible Translators – donations to support bible translation work|||
|across Sub-Sahara and Southern Africa|6,000|16,000|
|George Whitefield College South Africa - support of a Theological|||
|College in South Africa training Ministers|102,000|78,500|
|Stand By Me - towards work for children worldwide|5,180|5,180|
|The Areopagus Trust - support of Christian Ministry in completion of a|||
|conference centre to train Christian workers for universities and|||
|colleges|2,000|2,000|
|Bridgend Business Centre - support of Christian Ministry in Romania|2,400|2,400|
|Agape Ministries - support of Christian Ministry|1,200|1,200|
|ST Ebbe's PCC - support of Christian Minister in developing|||
|international gospel opportunities|10,000|10,000|
|Proclamation Trust - support of training for Gospel Ministry|36,000|36,545|
|Maldon Pioneers Association - donation to charity supporting adults|||
|with special needs|-|2,000|
|Operation Christmas Card (Samaritans Purse) - providing Christmas|||
|presents to deprived children|-|1,000|
|Stewardship - donation to charity to help fund the provision of services|||
|to religious educational establishments|15,520|15,035|
|Eurasian Ministry - support of Christian Ministry in Russia|-|10,000|
|Jubilee Centre - support of Christian Ministry|100|100|
|Starlight Childrens Foundation - donation to fund help for seriously ill|||
|children|-|500|
|Happy Days Children's Charity - donation to charity providing assitance|||
|to children with special needs|-|2,000|
|Farleigh Hospice - to assist with funding for hospice|5,000|5,000|
|Chelmsford Chess - donation to relieve homelessness and hardship|-|5,000|
|World Team - support of Christian Ministry|-|10,000|
|Disasters Emergency Committee - Coronavirus Appeal|10,000|10,000|
|Essex Dementia Care - charity providing one-to-one support for those|||
|with dementia|-|1,000|
|British Heart Foundation - charity fighting heart disease|-|1,000|
|UCCF The Christian Unions - charity supporting students|2,000|2,000|
|The Word One To One,The Rock Foundation – To provide extra staff|||
|at Christian Charity supporting young and old disadvantaged people|45,837|50,000|
|SKE Foundation – to support a Christian Ministers son to attend school|6,093|4,564|
|Westminster @ One - support of Christian Ministry in the City of|||
|London|5,000|5,000|
|Computers for the Disabled - To provide computer systems and|||
|laptops for disabled/housebound|-|1,000|
|The Field Lane Foundation - supports highly vulnerable people|2,000|1,000|
|Happy Hill (Essex) - donation towards additional needs activity centre.|-|500|
|The George Muller Charitable Trust - to support orphans of the world|||
|today|3,600|3,600|
|Cleft - Improving the lives of those born with cleft lip and palate|1,250|1,000|
|Dolphin School Trust - Common nurturing children ages 2-11,|||
|grounded in Christian values|4,808|4,834|
|Eclisa Trinity Church - makes the connection between donors with a|||
|heart for South Africa|25,000|15,000|
|Fair Havens Hospice - to assist with funding for hospice|5,000|5,000|
Page 14
continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
|**7.**
**GRANTS PAYABLE - continued**
Katie Piper Foundation - support survivors of burns and people with
scars
Kidz Klub Leeds - Work with children in every aspect of their lives
across the most challenging areas of Leeds
Oak Hill College - Prepare and train men and women for ministry in
Anglican and Independent churches
10ofThose - support publisher of evangelic resources
World Cancer Research Fund - donation to fund cancer prevention
research
The Back-Up Trust - donation to a charity that supports people with
spinal cord injuries
Poole-Wau Partnership Charitable Trust - support of Christian Ministry
The Salvation Army - donation to support the vunerable at Christmas
Winston's Wish - doantion to support bereaved children and their
families
International Presbyterian Church - support of Christian ministry
The Cruden Trust - support of Christian ministry
Chelmsford Food Bank - support of local charity.
Christian Books Worldwide - UK based charity dedicated to advancing
the knowledge of God by providing theological literature
Helen Rollason Cancer Charity - Dedicated to supporting people
whose lives have been affected by cancer
BRIGHT - Improving the lives of those affected by gastro-intestinal,
liver and pancreatic cancers
AMiE - A fellowship of Anglican churches committed to gospel mission
Shift.ms - Social network for people with multiple sclerosis, supporting
people with MS across the world
Alzheimer's Research UK - Dedicated to causes, diagnosis,
prevention, treatment and cure of Alzheimers
Christians in Sport - UK based charity that aims to reach the world of
sport for Christ, working with sportspeople in competitive and elite
sport
Lifelites - Enrich the lives of children and young people with life-limiting
and life-threatening conditions in children’s hospices through the magic
of assistive technology
St Barnabas Bible Church - Provide training to pastors to work for the
church across South Africa
George Whitefield College - Ark Endowment Fund to establish a fund
to support the future training of Christian Ministers
George Whitefield College – Support of training for Christian Ministry|30,000
1,000
30,000
-
-
-
7,450
5,000
-
48,000
20,004
-
13,000
500
1,000
10,000
1,000
100,000
10,000
10,000
7,528
500,000
9,000
1,280,198|30,000
-
40,000
10,000
1,000
2,000
2,000
1,000
1,000
36,000
13,336
100
-
-
-
-
-
-
-
-
-
-
-|
|---|---|---|
|||622,600|
The total grants paid to individuals during the year was as follows:
|The total grants paid to individuals during the year was as follows:|||
|---|---|---|
|Religious Education
Medical Welfare
Social Welfare|2022
£
8,000
25,513
32,600
66,113|2021
£
2,266
48,599
36,510|
|||87,375|
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continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **8. SUPPORT COSTS**
|**SUPPORT COSTS**||||
|---|---|---|---|
|||Governance||
||Management|costs|Totals|
||£|£|£|
|Investment management costs|8,517|-|8,517|
|General charitable work|31,664|4,590|36,254|
||40,181|4,590|44,771|
|**NET INCOME/(EXPENDITURE)**||||
|Net income/(expenditure) is stated after charging/(crediting):||||
|||2022|2021|
|||£|£|
|Depreciation - owned assets||9,288|5,735|
|Surplus on disposal of fixed assets||(67,698)|(111,443)|
## **9. NET INCOME/(EXPENDITURE)**
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
General charitable work
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
General charitable work
Religious education
Social welfare
Medical welfare
**Total**|Unrestricted
Restricted
fund
fund
£
£
66,661
-
12,572
-
79,233
-
2,588
-
2,021
-
540,870
-
66,506
-
102,599
-
714,584
-|Total
funds
£
66,661
12,572|
|---|---|---|
|||79,233|
|||2,588
2,021
540,870
66,506
102,599|
|||714,584|
Page 16
continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
|**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
fund
fund
£
£
Net gains on investments
361,031
-
**NET INCOME/(EXPENDITURE)**
(274,320)
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
12,849,414
139,557
**TOTAL FUNDS CARRIED FORWARD**
12,575,094
139,557
**12.**
**TANGIBLE FIXED ASSETS**
Fixtures
Freehold
and
property
fittings
£
£
**COST**
At 1 April 2021
3,809,485
28,388
Additions
806,014
11,310
Disposals
(726,224)
(11,833)
At 31 March 2022
3,889,275
27,865
**DEPRECIATION**
At 1 April 2021
-
18,296
Charge for year
-
9,288
Eliminated on disposal
-
(11,183)
At 31 March 2022
-
16,401
**NET BOOK VALUE**
At 31 March 2022
3,889,275
11,464
At 31 March 2021
3,809,485
10,092
**13.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2021
Additions
Disposals
Unrealised gains/(losses)
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Total
funds
£
361,031
(274,320)
12,988,971
12,714,651
Totals
£
3,837,873
817,324
(738,057)
3,917,140
18,296
9,288
(11,183)
16,401
3,900,739
3,819,577
Listed
investments
£
3,282,626
2,527,868
(2,068,604)
254,495
3,996,385
3,996,385
3,282,626|
|---|---|
Page 17
continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **13. FIXED ASSET INVESTMENTS - continued**
Listed investments:
|Listed investments:||
|---|---|
||£|
|UK equities|1,681,567|
|European equities|1,710,704|
|North American equities|604,114|
|||
||3,996,385|
|||
Investments that are material in the context of the market value of the portfolio are listed below:
||2022|
|---|---|
||£|
|UK equities:||
|Aviva Plc|415,068|
|Lloyds Banking Group Plc|966,259|
|Pearson Plc|300,240|
|European equities:||
|Saipem NPV|241,831|
|GAM Holdings|707,507|
|Leonardo S.p.a|761,366|
|North American equities:||
|Newmont Mining Corp|604,114|
Cost or valuation at 31 March 2022 is represented by:
|Valuation in 2022
**14.**
**DEBTORS**
Amounts falling due within one year:
Other debtors
Prepayments and accrued income|2022
£
149,000
8,889
157,889|Listed
investments
£
3,996,385
2021
£
131,451
3,700
135,151|
|---|---|---|
||||
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continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **14. DEBTORS - continued**
|**DEBTORS - continued**|||
|---|---|---|
|Amounts falling due after more than one year:
Other debtors
Aggregate amounts|2022
£
356,747
514,636|2021
£
356,747|
|||491,898|
Included within other debtors are interest free loans of £505,747 that have been made in accordance with the charity's charitable objects. Of these loans, £149,000 are due within one year and £356,747 are due after more than one year.
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**CREDITORS: AMOUNTS FALLING DUE**|**WITHIN ONE YEAR**|||
|---|---|---|---|
|||2022|2021|
|||£|£|
|VAT||130|126|
|Accrued expenses||6,484|30,255|
|||6,614|30,381|
|**MOVEMENT IN FUNDS**||||
|||Net||
|||movement|At|
||At 1.4.21|in funds|31.3.22|
||£|£|£|
|**Unrestricted funds**||||
|General fund|12,575,094|(482,538)|12,092,556|
|**Restricted funds**||||
|Restricted funds|139,557|-|139,557|
|**TOTAL FUNDS**|12,714,651|(482,538)|12,232,113|
## **16. MOVEMENT IN FUNDS**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
160,719
160,719|Resources
expended
£
(1,373,812)
(1,373,812)|Gains and
losses
£
730,555
730,555|Movement
in funds
£
(482,538)
(482,538)|
|---|---|---|---|---|
Page 19
continued...
## **THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **16. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted funds
**TOTAL FUNDS**|At 1.4.20
£
12,849,414
139,557
12,988,971|Net
movement
in funds
£
(274,320)
-
(274,320)|At
31.3.21
£
12,575,094
139,557|
|---|---|---|---|
||||12,714,651|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|79,233|(714,584)|361,031|(274,320)|
|**TOTAL FUNDS**|79,233|(714,584)|361,031|(274,320)|
|A current year 12 months and prior year 12 months combined position is as|||follows:||
||||Net||
||||movement|At|
|||At 1.4.20|in funds|31.3.22|
|||£|£|£|
|**Unrestricted funds**|||||
|General fund||12,849,414|(756,858)|12,092,556|
|**Restricted funds**|||||
|Restricted funds||139,557|-|139,557|
|**TOTAL FUNDS**||12,988,971|(756,858)|12,232,113|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
239,952
239,952|Resources
expended
£
(2,088,396)
(2,088,396)|Gains and
losses
£
1,091,586
1,091,586|Movement
in funds
£
(756,858)
(756,858)|
|---|---|---|---|---|
Page 20
continued...
**THE CHARIS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **16. MOVEMENT IN FUNDS - continued**
General fund - this fund represents the unrestricted accumulated surplus from funds available for general objectives of the charity.
Restricted fund - this comprises monies transferred from the Trust of the Gay Bowers Mission Room a charity which has been wound up. The monies are to be used for the benefit of the widows resident in the Parish of Danbury who are in necessitous circumstances.
## **17. OTHER FINANCIAL COMMITMENTS**
In January 2019, the charity committed to paying £10,000 per annum for five years to St Ebbe's church, a leading Christian Ministry. The commitment not accrued as expenditure at the year end totalled £10,000.
As that the balance sheet date, the charity has verbal commitments to pay £850,000 to a number of charitable institutions over the next four years.
A further verbal commitment has been made to provide a restricted grant of £1,000,000 to a charitable institution to fund a property in central Essex. A loan of up to £1,000,000 will be made available to enable this new property to be converted to a place of Christian worship.
All commitments, whether contractual or verbal, will be funded from the charity's unrestricted funds.
## **18. RELATED PARTY DISCLOSURES**
The charity made the following grants to related parties:
Family in Trust £57,679 (2021 - £118,106) - related by virtue of the fact that A Barker and A C Green are trustees of both charities.
Page 21