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2023-05-31-accounts

The Trustees' Annual Report

and

Directors’ Report

Buckland Chapel Trust

(A Company limited by guarantee) Report and Financial Statements For the Year Ended 31 May 2023 Charity number 1142312 Company number 07642092

Contents

  1. Reference, Legal and Administratve Informaton

  2. Structure, Governance and Management

  3. Responsibilites of the Trustees

  4. Our objectves

  5. Report of the Trustees

  6. Risk Management

  7. Related Partes

  8. Financial Review

  9. Reserves Policy

  10. Independent Examiner's Report

2

1. Reference, Legal and Administratve Informaton

Charity name: Buckland Chapel Trust

Charity registration number: 1142312

Company registration number: 07642092

Registered and operational address:

C/o Roger Watkins, Bay Tree House, The Crescent, Crapstone Yelverton, Devon PL20 7PS

Charity Trustees

Mrs N. Bovey (Chair)

Mrs J Rowe (Secretary)

Mr R. Watkins (Companies Secretary and overseeing buildings)

Mr P Nixon (Treasurer)

Mrs B Bowden

Mrs S Peskett

Company Directors

Mrs N. Bovey (Chair)

Mrs J Rowe (Secretary)

Mr R. Watkins (Companies Secretary and overseeing buildings)

Mr P Nixon (Treasurer)

Mrs B Bowden

Mrs S Peskett

The Members

Mr Philip Tuckett Mrs Denise Nixon

The Parochial Church Council of St Andrews Church Buckland Monachorum (one member) represented by Mrs Lizzie Watson

Mrs Bronia Coulshaw

Independent Examiner

Moorland Business Advisory Services, 28 Glanville Road, Tavistock, Devon, PL19 OEB

Bankers

Lloyds Bank, PO Box 800 Tredegar Park, Newport, South Wales NP10 8SB

Solicitors

Foot Anstey LLP, Salt Quay House, 4 North East Quay, Sutton Harbour, Plymouth, PL4 0BN

2

2. Structure, Governance and Management

Governing Document.

The organization is a charitable company limited by guarantee, incorporated on 20 May 2011 and registered as a charity on 8 June 2011. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment and Appointment of Trustees.

Under Article 9.9 the Trustees are appointed by the Members of BCT. They have control of BCT and its property and funds. They are also the Company Directors as registered at Companies House. Under the requirements of the Memorandum and Articles of Association one third of the trustees must retire each year and if eligible may be reappointed. By Article 3.4, new Trustees are required to sign a written declaration of willingness to act as trustee and a positive commitment to BCT objectives. On appointment and induction of new trustees, the Chair will provide the main documents which set out the operational framework for the charity including:

By Article 4.1, the Trustees are obliged to meet at least four times each year.

3. Responsibilites of the Trustees

The Trustees have control of the Charity, its property and funds. Company law requires the Trustees to prepare Financial Statements for each financial year. The Trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies

Act. They must also;

The Trustees responsibilities are more fully set out in paragraphs 3-7 of the Memorandum and Articles of association.

4. Responsibilites of the Members

The members are responsible for:

Appointing Members Appointing Trustees Keeping written records of their own decisions

The responsibilities of the members are more fully set out in articles 8-11 of the Memorandum and Articles of Association. Trustees are responsible to the Members and are guided by the advice when necessary.

2

5. Purposes and Aims

Our charity’s purposes as set out in the objects contained in article 1.1 of the Memorandum and Articles of Association. These are:

(a) To advance the Christian faith for the benefit of the public primarily (but without limitation) in Buckland Monachorum, Devon, and the surrounding area by such means as the trustees shall in their discretion think fit;

(b) To promote for the benefit of the public and in particular (but without limitation) the inhabitants of Buckland Monachorum, Devon and the surrounding area by the provision and maintenance of a community building and/or other facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age or disablement, financial hardship or social or economic circumstances or for public at large in the interest of social welfare and with the object of improving the conditions of life of the said inhabitants, provided that any activities undertaken pursuant to this Article 1.1(b) shall be consistent with Article 1.1(a)

5. Report of the Chair of Trustees

The year has been a very successful year for the Buckland Chapel Trust. Despite a difficult start to the year which was overshadowed with some differences in opinion both within members and within the Trustees, much work has been achieved and the use of the Chapel has continued to gain momentum again.

We said goodbye to a long-standing Trustee and the current Chair, Caroline Mitchel, as well as to fellow Trustee Susannah Campbell and to Members, Dr Rachel Perry, Annette Benny and PCC member Dr Mark Smith. We continue to be grateful for all their time and effort they put into the Trust. However, it is lovely to be able to welcome at their first AGM Mrs Julie Rowe, Mrs Sam Peskett and Mrs Bethany Bowden as Trustees and Mrs Lizzie Watson as the PCC Member representative. We look forward to working closely together over the coming years.

The Trustees would like to formally thank Mrs Debbie Farmer in heading up the Kitchen Team and Mr David Cox for all the thought and time he gave to this project and to special Friend of the BCT Mrs Cally Barnes who has worked tirelessly in the background with the Kitchen team. Since then ensuring that our storage has been arranged correctly, an inventory made and the day to day running of provisions for all users are available. We appreciate the work that these friends put in week in and week out to support our team and the users.

2

Report from Roger Watkins (Company Secretary)

New trustees

Our two new trustees, Bethany Bowden and Sam Peskett, are now registered with the Charities Commission (Charity Registration Number: 1142312) and also as directors of the Buckland Chapel Trust (Company Number: 07642092) with Companies House.

Annual returns and confirmation statements, along with accounts and annual reports, have all been submitted on time and are published on the respective websites: www.gov.uk/government/organisations/charity-commission www.gov.uk/government/organisations/companies-house

New kitchen

The new kitchen was installed by Allsop and Pitts, a firm from Torquay, earlier in the year. Thanks must go to Caroline Mitchell for organising such a successful fundraising effort and to the members of kitchen design team comprising Debbie Farmer, Julie Rowe, Cally Barnes Dave Cox and Paul Nixon who oversaw the installation of the kitchen. General maintenance

The following annual routine maintenance checks have all been completed this year:

The 5-yearly fixed installation electrical testing was last undertaken in June 2022 Currently the gas central heating and hot water boiler has a minor defect, detected last month on routine inspection. This will be repaired in two weeks’ time and the boiler will then undergo its annual service and a gas safety certificate issued. The central heating is controlled by the booking’s secretary remotely via the Wiser Heat App. This ensures efficient use of resources to provide appropriate heating of the Chapel. The system allows for individual control of the main hall and the upper and lower meeting rooms. Challenges and plans for the future

Members of the Youth Group, under the careful supervision of Tom Watson, have expertly painted the walls in the upper meeting room making for a much better environment. Painting the walls in the main hall is still required following installation of the new kitchen and this is planned for the New Year. We are also planning to reseal and polish the wooden floor in the main hall.

We are left with a small intermittent leak in the roof of the main hall above the new kitchen, more noticeable after periods of heavy rainfall. Fortunately, only a relatively small amount of water is seeping through and is not causing any damage to the new kitchen appliances.

Roger Watkins (Trustee BCT) 7 December 2023

2

Report on use over the past year from Mrs Julie Rowe (Bookings Secretary)

Hire arrangements and community activities during the past year have been:

St Andrews Church and local community

Collaboratons with St Andrews Primary School:

Buckland Cares Food Hub

Regular Commercial Hire of Main Hall and other rooms:

One of Commercial Hire of Main Hall and other rooms:

Future Bookings:

2

6. Risk Management

The Trustees annually conduct a review of the major risks including fire and injury. The risk assessment register has been updated and an issues log created which is regularly reviewed and maintained. The electrics and fire doors and access has been reviewed and updated in line with the policy standards. During the year’s recent Kitchen renovation one fire door access was removed, but this was compliant with fire regulations.

Users are given clear guidance as to what they should do in case of an emergency and a landline telephone is available specifically for this use should an emergency arise and should a mobile signal not be established at the time. Policies and procedures are in place to ensure compliance with health and safety of volunteers, clients and visitors to the chapel and an Accident Report register is in place for those with minor injuries to alert the Trustees, and for action to be taken by the Trustees to minimise potential hazards that may occur. It is considered that risks are as low as reasonably practicable.

With the installation of the new kitchen Mrs Helen Hopkins is continuing to work with Mrs Debbie Farmer and the wider team of regular users to ensure as many as possible are trained in food hygiene. We are also overseeing the installation of new signs to ensure the safe running of the kitchen facilities.

7. Related Partes

BCT liaises with the Parochial Church Council of St Andrew’s Church, Buckland Monachorum, to provide a facility for the Church to use. The main ‘non-church’ user is “Buckland Cares” the community Group which operates the food hub. All donations to the Food Hub are processed by BCT in a restricted account

8. Financial Review

Our income has been maintained from the following sources:

Our long-term loan liability has again been paid off using a sum of £22500 from our current account.

Key notes for 2022/23: Income was £13. 900 Routine expenditure was £7,300

One off expense on Kitchen £29,500 (with a further £6,000 paid from the current financial year 23/24)

A separate financial report is provided.

2

9. Reserves Policy

We have maintained a reserve account of £6000 which represents more than 6 months of regular expenditure. The reserves are needed to meet the working capital requirements of the charity and the Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. In accordance with company law, as the company’s directors, we certify that so far as we are aware, there is no relevant information of which the company’s independent examiner is unaware; and as the Directors of the Company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the charity’s independent examiner is aware of that information.

10. Independent Examiner’s Report

Moorland Business Advisory Services, 28 Glanville Road, Tavistock, Devon, PL19 OEB were reappointed as the charitable company’s independent examiner during the year and have expressed their willingness to continue in that capacity.

This report has been prepared in accordance with the Charities (Accounts and Reports) Regulations 2008, in accordance with the provisions of Company Law.

Approved by the Trustees on 29[th] November 2023 and signed on its behalf by:

Nicola Bovey (Chair)

Buckland Chapel Trust

2

Charity registration number 1142312

Company registration number 07642092 (England and Wales)

BUCKLAND CHAPEL TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

BUCKLAND CHAPEL TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs N J Bovey
Mr Paul Nixon (Appointed 27 February
2023)
Julie Rowe (Appointed 27 February
2023)
Mr R Watkins
Charity number 1142312
Company number 07642092
Registered office The Chapel
Buckland Monachorum
Yelverton
Devon
PL20 7LZ
Independent examiner Felicity Harris
28 Glanville Road
Tavistock
Devon
United Kingdom
PL19 0EB
Bankers Lloyds Bank plc
PO Box 800
Tedegar Park
Newport
South Wales
NP10 8SB
Solicitors Foot Anstey LLP
Salt Quay House
4 North East Quay
Sutton Harbour
Plymouth
Devon
PL4 0BN

BUCKLAND CHAPEL TRUST

CONTENTS

Page
Trustees' report
Independent examiner's report 1
Statement of financial activities 2
Balance sheet 3
Notes to the financial statements 4 - 11

BUCKLAND CHAPEL TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUCKLAND CHAPEL TRUST

I report to the trustees on my examination of the financial statements of Buckland Chapel Trust (the trust) for the year ended 31 May 2023.

Responsibilities and basis of report

As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the trust 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 the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

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 that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Felicity Harris

BA (Hons), FCA, ATT(fellow)

Moorlands Business Advisory Services

28 Glanville Road Tavistock Devon PL19 0EB United Kingdom

Dated: .........................

BUCKLAND CHAPEL TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
30,810
3,290
Charitable activities
3
7,302
-
Investments
4
5
-
Total income
38,117
3,290
Expenditure on:
Raising funds
5
285
-
Charitable activities -
Hall running costs,
AWC, Buckland cares
6
8,129
31,678
Total expenditure
8,414
31,678
Net incoming/(outgoing)
resources before transfers
29,703
(28,388)
Gross transfers between
funds
(10,944)
10,944
Net income/(expenditure) for
the year/
Net movement in funds
18,759
(17,444)
Fund balances at 1 June 2022
167,065
18,720
Fund balances at 31 May
2023
185,824
1,276		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
34,100
24,827
19,780
7,302
4,607
-
5
3
-
41,407
29,437
19,780
285
947
-
39,807
6,353
8,633
40,092
7,300
8,633
1,315
22,137
11,147
-
(5,228)
5,228
1,315
16,909
16,375
185,785
150,156
2,345
187,100
167,065
18,720		 Total
2022
£
44,607
4,607
3
49,217
947
14,986
15,933
33,284
-
33,284
152,501
185,785

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

BUCKLAND CHAPEL TRUST

BALANCE SHEET

AS AT 31 MAY 2023

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
13
Net assets
Income funds
Restricted funds
14
Unrestricted funds		 2023
£
319
37,383
37,702
(580)		 £
149,978
37,122
187,100
-
187,100
1,276
185,824
187,100		 2022
£
931
57,553
58,484
(2,677)		 £
149,978
55,807
205,785
(20,000)
185,785
18,720
167,065
185,785

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on .........................

..............................

Mrs N J Bovey Trustee

Company registration number 07642092

BUCKLAND CHAPEL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

1 Accounting policies

Charity information

Buckland Chapel Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Chapel, Buckland Monachorum, Yelverton, Devon, PL20 7LZ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006 and “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 for Micro Entities (FRS 105)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.

1.4 Incoming resources

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Resources expended

Expenditure is recognised at the point that the liability has been confirmed.

BUCKLAND CHAPEL TRUST

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

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 0% straight line Fixtures and fittings 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
30,810
3,290
Grants / bids received
-
-
30,810
3,290		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
34,100
14,649
19,780
-
10,178
-
34,100
24,827
19,780		 Total
2022
£
34,429
10,178
44,607

3 Charitable activities

Charitable Charitable
Income Income
2023 2022
£ £
Sales within charitable activities 5,535 3,927
Fundraising activities 1,767 680
7,302 4,607

BUCKLAND CHAPEL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2023

4 Investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 5 3

BUCKLAND CHAPEL TRUST

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

5 Raising funds

Unrestricted Total
funds
2023 2022
£ £
Fundraising and publicity
Advertising 122 101
Other fundraising costs 163 52
Fundraising and publicity 285 153
Repairs and renewals - 794
285 947
Charitable activities - Hall running costs, AWC, Buckland cares
Charitable
Charitable
activities -
activities -
Hall running
Hall running
costs, AWC,
costs, AWC,
Buckland
Buckland
cares cares
2023 2022
£ £
AWC - 229
Buckland cares 2,328 2,180
Ukraine - 175
Accoustics - 6,050
Caretaking and cleaning 1,243 1,074
Utilities 2,467 1,672
Repairs and maintenance 32,148 2,338
Sundry expenses 192 -
Telephone 488 374
Insurance 941 894
39,807 14,986
39,807 14,986
Analysis by fund
Unrestricted funds 8,129 6,353
Restricted funds 31,678 8,633
39,807 14,986

6 Charitable activities - Hall running costs, AWC, Buckland cares

BUCKLAND CHAPEL TRUST

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

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 June 2022
149,977
2,018
At 31 May 2023
149,977
2,018
Depreciation and impairment
At 1 June 2022
-
2,017
At 31 May 2023
-
2,017
Carrying amount
At 31 May 2023
149,977
1
At 31 May 2022
149,977
1
10
Debtors
2023
Amounts falling due within one year:
£
Prepayments and accrued income
319
11
Loans and overdrafts
2023
£
Other loans
-
Payable within one year
-		 Total
£
151,995
151,995
2,017
2,017
149,978
149,978
2022
£
931
2022
£
2,500
2,500

BUCKLAND CHAPEL TRUST

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

11
Loans and overdrafts
12
Creditors: amounts falling due within one year
Borrowings
Trade creditors
13
Creditors: amounts falling due after more than one year
Other creditors		 (Continued)
2023
2022
£
£
-
2,500
580
177
580
2,677
2023
2022
£
£
-
20,000		 (Continued)
2023
2022
£
£
-
2,500
580
177
580
2,677
2023
2022
£
£
-
20,000
2,677
2022
£
20,000

BUCKLAND CHAPEL TRUST

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

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 June 2021 resources expended 1 June 2022 resources expended 31 May 2023
£ £ £ £ £ £ £ £ £
Buckland cares 1,295 1,200 (2,180) - 314 3,290 (2,328) - 1,276
AWC 1,000 - (228) (772) - - - - -
Acoustics 50 - (6,050) 6,000 - - - - -
Kitchen - 18,405 - - 18,406 - (29,350) 10,944 -
UKraine - 175 (175) - - - - - -
2,345 19,780 (8,633) 5,228 18,720 3,290 (31,678) 10,944 1,276

BUCKLAND CHAPEL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2023

15
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
May 2023 are
represented by:
Tangible assets
149,978
-
Current assets/(liabilities)
35,846
1,276
Long term liabilities
-
-
185,824
1,276		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
149,978
149,978
-
37,122
37,083
18,724
-
(20,000)
-
187,100
167,061
18,724		 Total
2022
£
149,978
55,807
(20,000)
185,785

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

Charity registration number 1142312

Company registration number 07642092 (England and Wales)

BUCKLAND CHAPEL TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

BUCKLAND CHAPEL TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs N J Bovey
Mr Paul Nixon (Appointed 27 February
2023)
Julie Rowe (Appointed 27 February
2023)
Mr R Watkins
Charity number 1142312
Company number 07642092
Registered office The Chapel
Buckland Monachorum
Yelverton
Devon
PL20 7LZ
Independent examiner Felicity Harris
28 Glanville Road
Tavistock
Devon
United Kingdom
PL19 0EB
Bankers Lloyds Bank plc
PO Box 800
Tedegar Park
Newport
South Wales
NP10 8SB
Solicitors Foot Anstey LLP
Salt Quay House
4 North East Quay
Sutton Harbour
Plymouth
Devon
PL4 0BN

BUCKLAND CHAPEL TRUST

CONTENTS

Page
Trustees' report
Independent examiner's report 1
Statement of financial activities 2
Balance sheet 3
Notes to the financial statements 4 - 11

BUCKLAND CHAPEL TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUCKLAND CHAPEL TRUST

I report to the trustees on my examination of the financial statements of Buckland Chapel Trust (the trust) for the year ended 31 May 2023.

Responsibilities and basis of report

As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the trust 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 the trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

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 that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Felicity Harris

BA (Hons), FCA, ATT(fellow)

Moorlands Business Advisory Services

28 Glanville Road Tavistock Devon PL19 0EB United Kingdom

Dated: .........................

BUCKLAND CHAPEL TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
30,810
3,290
Charitable activities
3
7,302
-
Investments
4
5
-
Total income
38,117
3,290
Expenditure on:
Raising funds
5
285
-
Charitable activities -
Hall running costs,
AWC, Buckland cares
6
8,129
31,678
Total expenditure
8,414
31,678
Net incoming/(outgoing)
resources before transfers
29,703
(28,388)
Gross transfers between
funds
(10,944)
10,944
Net income/(expenditure) for
the year/
Net movement in funds
18,759
(17,444)
Fund balances at 1 June 2022
167,065
18,720
Fund balances at 31 May
2023
185,824
1,276		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
34,100
24,827
19,780
7,302
4,607
-
5
3
-
41,407
29,437
19,780
285
947
-
39,807
6,353
8,633
40,092
7,300
8,633
1,315
22,137
11,147
-
(5,228)
5,228
1,315
16,909
16,375
185,785
150,156
2,345
187,100
167,065
18,720		 Total
2022
£
44,607
4,607
3
49,217
947
14,986
15,933
33,284
-
33,284
152,501
185,785

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

BUCKLAND CHAPEL TRUST

BALANCE SHEET

AS AT 31 MAY 2023

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
13
Net assets
Income funds
Restricted funds
14
Unrestricted funds		 2023
£
319
37,383
37,702
(580)		 £
149,978
37,122
187,100
-
187,100
1,276
185,824
187,100		 2022
£
931
57,553
58,484
(2,677)		 £
149,978
55,807
205,785
(20,000)
185,785
18,720
167,065
185,785

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on .........................

..............................

Mrs N J Bovey Trustee

Company registration number 07642092

BUCKLAND CHAPEL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

1 Accounting policies

Charity information

Buckland Chapel Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Chapel, Buckland Monachorum, Yelverton, Devon, PL20 7LZ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006 and “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 for Micro Entities (FRS 105)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.

1.4 Incoming resources

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Resources expended

Expenditure is recognised at the point that the liability has been confirmed.

BUCKLAND CHAPEL TRUST

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

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 0% straight line Fixtures and fittings 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
30,810
3,290
Grants / bids received
-
-
30,810
3,290		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
34,100
14,649
19,780
-
10,178
-
34,100
24,827
19,780		 Total
2022
£
34,429
10,178
44,607

3 Charitable activities

Charitable Charitable
Income Income
2023 2022
£ £
Sales within charitable activities 5,535 3,927
Fundraising activities 1,767 680
7,302 4,607

BUCKLAND CHAPEL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2023

4 Investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 5 3

BUCKLAND CHAPEL TRUST

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

5 Raising funds

Unrestricted Total
funds
2023 2022
£ £
Fundraising and publicity
Advertising 122 101
Other fundraising costs 163 52
Fundraising and publicity 285 153
Repairs and renewals - 794
285 947
Charitable activities - Hall running costs, AWC, Buckland cares
Charitable
Charitable
activities -
activities -
Hall running
Hall running
costs, AWC,
costs, AWC,
Buckland
Buckland
cares cares
2023 2022
£ £
AWC - 229
Buckland cares 2,328 2,180
Ukraine - 175
Accoustics - 6,050
Caretaking and cleaning 1,243 1,074
Utilities 2,467 1,672
Repairs and maintenance 32,148 2,338
Sundry expenses 192 -
Telephone 488 374
Insurance 941 894
39,807 14,986
39,807 14,986
Analysis by fund
Unrestricted funds 8,129 6,353
Restricted funds 31,678 8,633
39,807 14,986

6 Charitable activities - Hall running costs, AWC, Buckland cares

BUCKLAND CHAPEL TRUST

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

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 June 2022
149,977
2,018
At 31 May 2023
149,977
2,018
Depreciation and impairment
At 1 June 2022
-
2,017
At 31 May 2023
-
2,017
Carrying amount
At 31 May 2023
149,977
1
At 31 May 2022
149,977
1
10
Debtors
2023
Amounts falling due within one year:
£
Prepayments and accrued income
319
11
Loans and overdrafts
2023
£
Other loans
-
Payable within one year
-		 Total
£
151,995
151,995
2,017
2,017
149,978
149,978
2022
£
931
2022
£
2,500
2,500

BUCKLAND CHAPEL TRUST

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

11
Loans and overdrafts
12
Creditors: amounts falling due within one year
Borrowings
Trade creditors
13
Creditors: amounts falling due after more than one year
Other creditors		 (Continued)
2023
2022
£
£
-
2,500
580
177
580
2,677
2023
2022
£
£
-
20,000		 (Continued)
2023
2022
£
£
-
2,500
580
177
580
2,677
2023
2022
£
£
-
20,000
2,677
2022
£
20,000

BUCKLAND CHAPEL TRUST

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

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 June 2021 resources expended 1 June 2022 resources expended 31 May 2023
£ £ £ £ £ £ £ £ £
Buckland cares 1,295 1,200 (2,180) - 314 3,290 (2,328) - 1,276
AWC 1,000 - (228) (772) - - - - -
Acoustics 50 - (6,050) 6,000 - - - - -
Kitchen - 18,405 - - 18,406 - (29,350) 10,944 -
UKraine - 175 (175) - - - - - -
2,345 19,780 (8,633) 5,228 18,720 3,290 (31,678) 10,944 1,276

BUCKLAND CHAPEL TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2023

15
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
May 2023 are
represented by:
Tangible assets
149,978
-
Current assets/(liabilities)
35,846
1,276
Long term liabilities
-
-
185,824
1,276		 Total
Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
149,978
149,978
-
37,122
37,083
18,724
-
(20,000)
-
187,100
167,061
18,724		 Total
2022
£
149,978
55,807
(20,000)
185,785

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).