.H. CHRISTIAN WORKERS. TRUST {A Charitable Company Limlted by Guarant991 Trustees Report and Financial Statements For the Year ended 31 Deceml)er 2024 Unaudited (but Independently Examined) Company Number 7657532 Charity Number 1142493
B.H. CHRISTIAN WORKERS) TRUST Charity Number 1142493 Company Number 7657532 {A Ch4ri¢able cOmnY Limited by Gw4T8ntse) Report and Financial Statements for the Year Ended 31 December 2024 Contents Pago: Officials and Statutory InformatJn Report of the Trustees Stslement of Trustees. Responsibilitses Independent Examinerfs Report Statement of Financial Activities Balance Sheet Cash Flows 10 Notes to the Accounts DlrectoJ¥ l Trustees: The Trustees who have acted throughout the year and to the date of th pOrt are.'- Appointsd: Mr J. E. Puttock (Chairman & Company Secrelaryl Mr D. E. Bawtree, Mrs J. K. Champ, Mr T. Cristin, (Re-appointed 16#1 June 2024) Ex41ffklo: The Reverend Dr. N.J.C. Tucker War. Bishop Hannington Church. Nomlnated Mrs L R Bubloz Bishop Hannington Church, PCC Vomin88. (Reswned 215t May 2024) Mr l J R. Crosthwaite Bishop Hannington Churrh, PCC Non7inee (Appointed 1&hSeptember2024) Tr&rer. Mr l J R Crosthwaite. Registsrod offKo: Bishop Hannirvjton Church Office, Nevill Avenue, Hove, E Sussex. BN3 7NH. Company No: 7657532 Charity No: 1142493 Independent Examiner: Mr G M Andetson, 64 Buckingham Road Shoreham by Sea BN43 SUD. Principal Bankevs: a4F Bank Limited. 25 Kings Hill Avenue, West Mallirvj, Kent ME19 4TA.
.H. CHRISTIAN WORKERS, TRUST Charity Number 1142493 Company Number 7657532 (A Charitsble Company Limited by Cuarallt¢¢) Report of the Truste•s for the Year Ended 31 December 2024 The Trustees (who are also the Company dIrt9[SI present their annual report together with the financial stateThnts for the year ended 31 Decèmber 2024. StNACture, Gov?mance and Managomont The Company is a charitable company limrted by guaranlee registered in England & Wales. The Company is the successor body to the original charity founded in February 1988 and commenced rts aclivits'es on 1 January 2012. It is registered with the Charity Commission for England and Wales. The number of Truslees shall be nol $$ than three and not more than eighL TTUStees are appointed for a pertCJ of fve years and are eligible for re-appointment. The current Trustees are due to retire as follows.. Don BavAree on 3 November 2026, Jane Champ on 31 May 2027, John Puttock on 31 May 2028, Tvor Cristin on 16 June 2029. and lan Crosthwaite on 15 September 2029. The Trustees shall consist of a) a Ferson nominated by the Parochial Church Council I'the PCC") of Bishop Hannington Memorial Church, Hove, {°BH'I, (lan Crosthwailel, bl a person nominated by the Churchwardens of BH, (the Churchwardens have chosen not to nominate a person at this b'mel, c) the Vicar, Priest in charge or the incumbent of any new benefice which includes the whole or part of the present benefi¢e, (Nick Tucker), and dl person{s) nominated by an existing member. All Trustees must be on the electoral roll of BH and subscribe to the Statement of Faith in the schedule of the Memorandum and Articks ofAssociation. The Company is limited by guarantee and hence no shares have been isSL. Each Trustee is also a mber of the Company and there are no other member5. In the event of the Company being wound up or otheise dissotved, the liability of the members by way of guarantee is limrted under Clauses 6 and 7 of the Memorandum of Asscn"ation to an amount not exceeding £1 each. The Chairrnan and the Treasurer handle the day-to-day administration of the Company. The Trustees met three times during the year to review the Company's activities, financial statements and issues relating to the employee. Management Accounts afe circulated to the Trustee5 monthly and other reports are circulated to the Ttustees necessary betsveen meetings. Objects and Principal Acllvlties for the Publlc B•nofit The objects of the Company, which a set out in the Artlcles of Assxiation, are the advancement of the Christs'an faith which is achieved by the raising of funds for the employment of Christian worker5 primarily wilhin the Parish of BH. A small number of the gifts to the Company are provided by the members of BH but most of its income now arises from its properties. An agreed propoTtion of this irtcome is transferred lo BH SFecifi¢ally to assist with the funding of its employment costs under a Memorandum of Understsnding entered into belween the Company and the PCC in October 2022 Ithe"MoU"I. The Company owns three properties. 40 Meadway Crescent is let at below market rent and subject to certain special terms as agreed at the time of transfeT to the Company but nevertheless provides a very welcome source of income. 86 Elm Drive is usèd for the advancement of the Chrislian Religion by providing premises for BcKs AINe, a Christian Bookshop, and 47 Nevill Avenue did provide awmmodation for one of the ordained ministers of BH and his family but has been temporarily let commercially pending the appointment ofa new ordained minister who will then 0UpY this propety. The Trustees have referred to tho Charity Commisson's general guldance on Publ benefrt wheft revrewing the Company's aims and objectiv8s and in planning its ftjture activities. The charitable activities during the year have been similar to those in prior years and primarily relate to the asSiStsn provided to the staff of BH arKJ Éts sister churches in supporting the ministy. administration and other support services. That will continue for the sole remaining employee, bul the Company will still raise funds to assist funding of the continuing employment of the staff employed ty the PCC. The a(*iviti'es of BH and its Parish, as part of the Church of England, are available to all those of whatew8r background who wish to attend and participate in Its services and activities.
B.H. CHRISTIAN WORKERS, TRUST Charity Number 1142493 Company Number 7657532 {A Chritable Company Limited by Gura#tee) Report of the Tru8ts68 for the Year Ended 31 December 2024 {contlnuedl AChIevents and Perf•)miance for the Publlc Ben&fit Policy on Reserves and Powers of Inveslment Athough the Memorandum and Articles of A5SCtiatKsn give the Trustees unrestricted powers of investment, no Such investments are currently held. kn already indicated above, the Trustees have exercised their powers to own propety. both to house Christian workefs and to provide income to the Company. Financlal Review As advised previousty, the Company's actwities changed qutte dramaticalty effective from 1st October 2022, when all but one of its staff were °TUPE'd" across to BH to become diieclly employed by the PCC. The Company's regular donors were asked to switch their giving to the new PCC account especialty opened to coltecl the income dedicated for the employment costs. The Company's total Income during 2024 was £87,0791£104,843 in 20231. That is £17,764 down on last year which is due to the loss of rentsl income of £8,835 on 47 Nevill Avenue whh was vacanl for 6 months and the inclusion last year of the legacy of £10,000. Gift-aid enabled the Company to reclaim £1,3691£2.753 in 2023). This is valuable income but less Signfficant now as much less eligible itKome is Te1Ved by the Company. The annual rental income from the three properties totalled £36,157 (2023 £42.792). The rent paid by Books Alive was reviewed towards the end of 2024 such that effectNe from January 2025 it increased by £1.750 10 a new passing rent of £15.OOOpa for another five-year temi. The Company received £13.250 in 2024. The Independent professional valuation of that property lo review the rental value revealed that the Company should Ce the valLtation of the property by £45,000 to £175,000. The Company increased the rent on 47 Nevill Avenue by 2.5% from January 2024 for the first three months while the property was still occupied by the Curate and his family. After they moved out in April the propety was vacant until September when the Company obtained an Assured Shorthold Tenancy on commercial terms. The rent payable on 40 Meadway was increased from £800pm to £1,190pm in August after several years of no increases at all. Total expenditure at £89,001 (£89.686 in 20231 was down £685. The bulk of this yea$ expenditure relates to the transler of an agreed proporbon of the rents and other income to the PCC under the Mou specifically to assist with the funding of the employment costs taken on by the PCC. Last year's transfer included the legacy of £10,000. This year there was increased expendire on Nevill Avenue to prepare the propety for letbng. The Company male a def1t of £1,922 this year (£15,157 surplus in 20231. The unrestricted net current assets at the year-end stand at £24.250 (£26,172 in 2023}. The Trustees are forecasting a break-even situation going forw3rd because the one remaining employee is fvlly fvnded by Goldstone church and the Company is in receipt of rental income of £4.101 per month currenuy. Risk Management The followir#J have been identrfEd by the Trustees as wtentsal risks to Ihe Company: The reserves are insufficient to meet repair costs to the properties (ywned by the Company. In the event of these circumstances the Trustees would initialty temporarity cease lo make grants to the PCC, followed by a review of the possibilty of the PCC making an additional grant to the Company, or finding other exlemal funding such as launching an appeal. A major fire, or other serious damage, to one of the properties owned by the Company. properlies owned by the Company are insUd. Lack of compliance with HMRC, Charity Commission and Companies House regulats'ons. Legal advice and our independent examiners along with appropriate seminars for Trustees seek lo ensure hjll ¢oryliance. An ernployee (past or present) tsking the Company to a tribunal in relation to a dispute. The Company seeks to follow gocKI employment practices armj to deal with any issue in a prompt and appropriate manner.
B.H. CHRISTIAN WORKERS, TRUST Charity Number 1142493 Company Nun)ber 7657532 (A Cbaritlble Company Limited by GuaraDtee) Report of the Tru8te8s for the Year Ended 31 December 2024 Iconllnued) R4$k Management l¢ontinuedl The Trustees receive a monthly copy of the managemènt accounts and a fvll financial report at every meeting. The Company's aUnts and records are scrulinised ty the Independent Examiner annually. Reserves Policy The TnJstees have considered the level of Teserves that it would be prudent to malnlain against potential Iosg of income and consmler that £20,000 would be a prudent amount to be provjded from the balance ol the Unrestrteted Fund plus a further £1,000 each year to cover additional maintenance quIrernents to the propety at 47, Nevill Avenue every four years, next due in 2028. Future Plans The Company will continue to support the salaries Of the staff now employed by the PCC primarity from its rental income and any other inu)me that is received by the Company. As previously advised one employee has remained with the Company and will continue to be fijnded by Goldstone church. All staff, however employed, will continue to Work in association with BH and fits sister churches and seek to advance the Christian farth. Con¢lu8ion The Trustees would like to express their appreCtIOn to all who have so generously supported Ihe work of the Company by their prayers and glfts over many years, and lo all the employees, past and present for their unstinting work in fvrthering the Conwarry's objective of advancing the Christian faith. This report has been prepared in accordanre with the provisions applicable to companies subject to the small companies. regime. By Order of Ihe Board J E Puttock Dlrector Date: 2025
ILH. CHIUSTIAN WORKERS. TRUST (A Charitsbk CompaTry Limlled by Guar4n¢¢¢) Charity Number 1142493 Company Number 7657532 statemgnt of Trustees, Responsibilitie8 for the Year Ended 31 Dgc•mber 2024 The Trustees are responsible for preparing the annual report and the financial ststements of the Company in a{jrdanCe with the Companies Act 2006 and for being satisfied that the financial statements give a true and fair view. The Tnjstees are also responsible for preparing the financial statements in accordance with United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees {who are also Directors of the Company) to prepare financial stslements for each financial year that give a true and fair view of the state of affairs of the Company and of the income and expenditure of the Company for that year. In preparing these financial statements, the Twstees are required.. To select suitable accounting policies and then apply them consistently- To make judgements and estimates that are reasonable and prud8nt,' and To prepare the financial statements on a going concem basis, unless it is inappropriate to pSuMe that the Company will ¢ontt'nue in business. The Trustees are responsible ft)r keeping adequate accounting records that show an¢J explain the Company's Iransaclions. disclose with reasonable accuracy at any ts'me the financial position of the Company and enable them trj ensure that the financial statements ¢omply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hen for tsking reasonable steps for the prevention and detection of fraud and olher irregularities.
B.H. CHRISTIAN WORKERS, TRUST Charity Number 1142493 Company Number 7657532 {A Charitable Company Limited by Gtee) Indopendent ExaTnin•Vs Report to the MgmlJ¢rs of B. Chrlstlan Workers, Trust I report on the accounts of the Trust for the year ended 31 December 2024. Regpeclive responslbllltles of Trustee8 and Examiner The Charity's Truslee8 {who are also Directors of the Company for the purposes of Company Law) are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit Is not required for this year under section 144 12) of the Charities Act 2011, I'the 2011 Acr} and that an independent examinalion is needed. Having satisfied myself that the Charty 18 not subj.ect to audit under Company Law and is eligible for independent examination, rt 15 my responsibility.. to examine the acUnts urbder section 145 of the 2011 Act., to follow the procedures laid down in the General Difections gr¥en by the Charrty Commissioners {under section 145{5llbl of the 2011 Acll.. and to state whether particular matters have come to my attention. My report ts made solety to you as Trustees put5uanl to the 2011 Act. My examination has been undertaken so that I might stale to the Truslees those matters l am required to stale in this report and for no other purpose. To the fullest extent perni by law, I do not accept or assume responsibility to anyone other than the Trustees for my examinion, for my report, or for Ihe ststemenl I have made. Basis of Independènt Examinefs R•port My examination was camed out in accordance wlth General Directions gNen by the Charity Commwion. An examination includes a review of the accounting records kept by the Charity and a comparison of the acmunls presented wrth those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be reqLFired in an audit, and consequenly I do not express an audtt opinion on the view given by the a¢counts. Independent Examlnerfs Ststsmenl In connection with my examination, no matter has come to rny attention.. which gives me reasonable cause lo believe that. in any material respect, the requirements: to keep accounting records in acrdanCe with sections 386 of the Companies Act 2006,. and to prepa accounts which a¢cord with the accounting records and compty with the accounting requirements of seth.on 396 of the Companies Act 2006 and with the methtjjs and principles of the Statement of ReconNnended Practice. Accounting and Reporting by Charities, have not been mel. or la} {bl {2} to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 13 M ..2025 erson ham Road Shoreham by Sea BN43 SUD 64 Bk
BM. CHIUSTIAN WORKERS, TRUST Charity Number 1142493 Company Numbcr 7657532 (A Cbaritable Company Limited by GaTlI1¢¢) Statsrnent of Financial Activitiès for the Year Ended 31 Decembor 2024 Note Unrestricted Resthcted Endowment Funds Funds Funds Total 2024 Total 2023 Incomg & Endovfflients Donations and legacies Rental income Interest income Total Income & Endowment8 7,205 36.157 1,013 42,7Q4 49,909 36,157 1,013 61,207 42.792 44,375 42.704 87,079 104,843 Ex nditure on Charliable Activities staff Costs Propety expenses Transfers to PCC CW Fund Traininglsundry expenses Total Expenditure 42.704 42,704 41,018 1.267 7,677 37,362 1,258 46,297 37.362 1,258 89.001 47,008 393 89,686 42.704 Net Incomelloss before other reco nlsed ains and 1058os {1,922) {1.922) 15.157 Galn8lLosses on Revaluallon of Flxed Assets I140,0) (140,000) Net MoverrEnt in Funds 1,922 140,000 141922 15.157 Funds brought fotward 26.172 1,465,000 1.491,172 1.476,015 Total Funds Carried Fornard 24,250 1,325.000 1,349.250 1,491.172 All annts relate to continuing acaivrties. Any drfference5 of £1 relate to roundings. I gains or losses recognised in the year are included in the Statement of Financial Activities. The notes on pages 10 to 14 form part ofthese financial ststements.
B.H. CHRISTIAN WORKER8* TRUST Charity Number 1142493 Company Number 7657532 (A Cbaritsble CompAny Limiéed by Guar•nte¢) Balance Sheet at 31 Decèmber 2024 2024 2023 Fixed Assets Investment Properties Total Fixed A888ts Current Assets Debtors Cash at Bank Total Currnnt Assets 1.325.000 1.325.000 1,465,000 1,465,000 10.000 27.135 37,135 26.838 26.838 Liabilitles Cfedttors falllng due w¢thin one year Net Current Assets Total Assets less Current Liabilities 2,588 24,249 10,964 26,135 1491171 Re resented b Expendable Endowment Funds General Funds 11 11 11 1,325,000 24,249 1,465,000 26,171 Restrtcted Funds Total FL¢nds 1,349,249 1.491.171 For the year ended 31 Decemter 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The Members have not required Ihe Company to obtain an audit of tts financial statements for the year in quests'on in accordance wrth wtion 476. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 20C6 with respect to ac¢ounts"ng records and the preparation of financial statements. The ffinancial statements have been pPared in aordanCe With the provisions applicable to ¢ompanies subject to the small companies. regime. Any differences of £1 relats to roundings These financial statements were approved by the Board and authorised for issue on 2025. SIGNED... (Di¢10r) JOHN PUThOCK SIGNEO... (Treasurer) IAN CROSTHWAITE
H. CHRISTIAN WORKFRS, TRUST Charity Number 1142493 Company Number 7657532 (A Chritbl¢ Compony Limited by Gu8rantee) Ststsment of Cash Flows for tho yoar ending 31 D•eomber 2024 Total Funds Total Funds 2024 2023 Cash flows from operating activities: Nel cash provtsed byl lused in) operating activities 29,791 30,349 Cash flows from investing actlvltles: Interest income Rentsl income Investment property expenses Purchase of property plant and equipment Proceeds from sale of investments Pufchase of investments Net cash provKled byl (used in) investin9 actNlties Cash flows from financing aetlvitigs: Repayments of borrowing Cash inflows from new borrowing Receipt of endowment Nel cash provided byl (used ID) financing &tivities 1.013 36,157 17,6771 844 42.792 11,267} 29893 42,369 Change in ¢ash and cash oquival8nts in the reporting period Cash and cash equivalents at the beginning of the reporting period Total ¢ash and cash equivaltnts at the end of the year (298) 27,136 26.838 12,020 15,116 27.136 Any drenceS of £1 relate to roundings RO¢ol11allOTr of net incomel(expenditurel to rtét cash Ibow from operating activities Total Funds Total Funds 2024 2023 Net incomel(exp•ndilurel for the reporting ptrriod las per the statement of financial activities) Adju8tm•nts for". Depreciation charges Propety Expenses in lllvesting Actwities Interest Income Shown in Investing Activities Rental Income Shown in Investing Activities Lossllprofitl on the sale of fixed assets (Increaseydecrease in stocks {Increase}Idecrease in debtor5 Incfeasel{decreasel in creditors {1,922) 15,157 7.677 (1,013) (36,1571 1.267 1844) (42,792) 10.000 18.3761 (9,557) 6.420 Net 9h providod byl lllsed Inl opernting activitle6
B.IL CIIRISTIAN WORKERS. TRUST Charity Number 1142493 Company Number 7657532 (A Charitlbte Compatty iAmited by Guarnntee) Notes to th• Accounts for tha Yoar Ended 31 Dgcgmber 2024 Note 1 Accountin Pollclfrs The principal accounts'ng policies adopted, judgements and key sources of estimation uncertainty in the prep8ratton of these financial statements are as follow5.' a) Basis of pr•paration;. These financial statements have been prepared on th8 going concem basis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland leffectNe January 20151 {'FRS 102.) and the Companies Act 2006. That basis is juslthed by the year end net current assets of £25,911 and an annual rental stream from three different properties of £49,215 as from January 2025. Assets and liabilities are initialty recognised at historical cost or transaction value unless otherwise stsied in the relevant accounting poly notels). b) Fund accountlng; Funds held by the Company are either'.- Unrestricted fvnds General ftjnds which can be used for ordinary purposes. or Resthcted FuTrJs being either (a) income from trusts or endowments which may be expended only on those restricted objects provided in the temis of the trust or bequest.. or (b) donab'ons or grants received for a specific object. Any balance remaining unspent at the end of the year is carried forward as a balance on that restricted fund, or Expendable Endowment Funds These fijnds represent properties which the Company has the right to retain. Income arising from these investments may be used as unrestricted funds. Incom• rncognition policies Items of income are recognised and included in the accounts when aN of the following criteria are met" the Company becomes enb.ued to the funds.. any perfom)ance conditions attached to the iEemls} of Income have teen rt or are fulty within control of the Company.. there is sufficient certainty that receipt of the in¢ome 1$ Considered probable., and the amount can be measured reliably. For Ègacies. entitlement is taken as the earlier of.. the date on which the Company is aware that probate has been granled; the estate has been finalised and nobficalion has been made by the executor(s) lo the Company that a distribution will be made ', or when a distribution is received from thé estate. ReIpt of a legacy, in whole or in part, 15 only considered probable when the amount Can LE measured reliabty, and the Company has been noliffied of the executorfs intention to make a distribution. V¥here legacies have been notified to the Company and the above criteria have not been meL then the legacy is treated as a contingent asset and only disclosed if material. c) IntOt receivable Inte5t on fvnds held on deposit is included when paid by the bank. 10
B.H. CHRISTIAN WORKEKS, TRUST Charity Number 1142493 Cumpany Number 7657532 (A Charitable CompaDy Limit¢d by Garantee) Notss to the Accounts for the Year Ended 31 December 2024 Icontinu•dl Not¢ 1 Accountin Polici98 contlnued d) Gfft Ald Income from lax reclaims is included at the same time as the gift to which it relates. e) Expenditure Expenditure is Tr¢ognised as soon as the is a legal or constfuGtive obligation committing Ihe Company to make a payment. f) Assets The investment properties are for use by the Company. The three prope"e$ are held as mixed molive Investments to further the work of the Company and to produ a ftscal retum. They are stated at valuation subject to annual reviews. N¢)ts 2 Volunta Income UntnCted Funds 2024 2023 Restricted Funds 2024 2023 Total 2024 Total 2023 Regular giving Donations Legacy From Churches in the parish Income Tax recoverable 4.536 1,300 6,021 1,415 10,000 4,536 1,300 6.021 1,415 10,000 41,018 2.753 42,704 41.018 42,704 1,369 7,205 2,753 20,189 42.704 41,018 49,909 The aggregate value of giving by the Trustees was £NIL12023-£NIL) plus gifl aid of £NIL (2023-£NILI. Nole 3 Rantal Incomo Unrestricted Funds 2024 2023 Restn"cted Funds 2024 2023 Totsl 2024 Total 2023 47 Nevill Avenue 86 Elm Drive 40 Meadway Total 11,357 20,192 13,250 13,000 11,550 9,600 36 157 42,792 11A57 13.250 11.550 20,192 13,000 9,600 42,792 4 Staff Costs Unrestricted Funds 2024 2023 Restricted Funds 2024 2023 Total 2024 Toial 2023 Gross wages National Insurance costs Pension costs Death in service insurance Total 35.743 3.677 2.502 782 42.704 34,368 3,487 2,406 757 41.018 35,743 3,6 2.502 782 42.704 34,368 3,487 2,406 757 41,018 Staff a only employed for the charitable aein1itS of the Company. No costs are incurred relating to fundraising, administratK)n or govemance. At the year*nd the Company had one fuH time employee. There were no empt)yees wrth remuneration (including benefrts) greater than £60.000 per annum. The average number of employees in 2024 was 1 (2023-11.
B.H. CHIUSTIAN WORKERS, TRUST Charity Number 1142493 Company Number 7657532 (A Charitable Compally Limlted by Guarnntee) Notes to tho AGGounts for the Year Ended 31 D8cgmber 2024 Icontlnued) Note 4 Staff Costs contlnued The Company is fulty compliant with the workplace pension rules and regulations. All employees receive an employerfs pension contribution of 70A of Iheir gross income funding the Company's workplace scheme provided by NEST {the National EmploynEnt Savings Trust). cUrnIY there are no compulsory employee contributions. Note 5 Pro nses Unrestri¢ted Funds 2024 2023 Restrithd Funds 2024 2023 Totsl 2024 Total 2023 Repairshefurbishment to 47 Nevill Avenue Repairslrefurbishment to 40 Meadway Crescent Total 6,680 655 6.680 655 997 7,677 612 1,267 997 612 1,267 Noto 6 Trainin and 8und Ex nses un$"¢ted Funds 2024 2023 Restrt¢ted Funds 2024 2023 Total 2024 Total 2023 Professional indemnty insurance premium Books Alive Lease Revtew Bank Charges Sundry Total 291 291 702 60 130 1,258 702 60 130 60 42 393 60 42 393 Fees in respect of the Independent Examination this year are £nil12023 £nil) as the 8xamination was again provided pro tx)no. Note 7 Fixed Assets Investment Properties 2024 2023 At 1 J8nLFary Disposals Addttions Revaluations At 31 December 1,465,OC 1865,000 1,465,OC(I {140,000) 1,325.1)00 1325 000 1.465,CK)O 2024 2023 86 Elm Drive Hove at valualion 47 Nevill Avenue Hove at valuation 40 Meadway Crescent Hove at valuation 175,000 220,000 675,000 720,000 475 000 1325000 1 86 Elm Drive was professionalty valued in July 2024 at £175,000 by Crfckmay Chartered Surveyors when the lease was coming up for renewal. The Tnjslees reviewed market trends in October and decided that a more cautious stance $hould be taken on the two residenlial properties, so they We each reduced. 12
B.H. CHRISTIAN WORKERSY TRUST Charity Number 1142493 Cijmpany Number 76S7532 (A Charitable Compny Lirnited by Guarantee} Notes to th• Accounts for the Year Ended 31 De¢emb•r 2024 Icontinuedl Note 8 Cash at Bank The day-t(pday cash balances are held al CAF Bank Ltd. The Company a0 has an instant access account with a balance of £23.00012023 £25,000) with Aldennore Bank PLC. All of these funds are fvlly covered by the Financial Services Compensation Scheme. Note 9 Creditovs. 2024 2023 statutory deductions due lo HMRC from the December payroll Rent received due lo the PCC Fund Legacy transferted to the PCC CW Fund in January 2024 Total 927 1,661 10,000 10.964 Note 10 Com rative Period SOFA. Unrestncled Funds Restricted Funds Endowm8nl Funds Total 2023 Income & Endowments Donations and kgacies Rental income Interest income Total Incomfr & Endowme 20.189 42,792 844 63.825 41.018 61.207 42.792 844 nditure on Charitablg Activities staff Costs Property expenses Transfers to PCC CW Fund Traininglsundry expenses Total Expenditure 41,018 41.018 1,267 1.267 47,008 393 48,668 47,008 393 89,686 41.018 Net Income beforn other roco nised alns and10s¥es 16,157 15,157 GainslLossos on Revaluation of Fixed Assets Net Movement in Funds 15,1S7 Funds brought forward 11,015 1,465,000 1A76,015 Total Funds Carried Forward 26,172 1,465,000 1,491 172 13
B.IL CHRISTIAN WORKERS, TRUST Ch4rity Number 1142493 Company Number 7657532 {A Charitsble CompaDy Limited by Cuarantee) Notes to the Aeeounts for the Y r Ended 31 Decèmber 2 conllnued Nolo 11 Ana sls of Funds Type Fixed A88ets Nel Current Assets Total 2024 Expendable Endowment Revaluation Reserve Restricted Unrestrcted Total 952,000 373,000 952,000 373,000 24.250 24.250 24.250 1,349.250 1325,WO Expendabk End0ent Funds represent the valuation of the properties which the Company received from the previ$ unincorporated trltst in 2012 {£552.000} plus the new property donated to the Company In 20201£400,000). The Revaluation Resebve is the net increase in the value of the properties since being owned by the Company. The Company has the unrestficted right to retain these properties and the incorne arising from them may be used as unrestricted fvnds. Reslri¢ted funds are received from BH'S sister ¢huTch, Goldstone, lo cover the employment costs of any ministers and staff who work at that church but are employed by the Conpany. Occasionally donations from other sourcey are receNed speu'fically to cover designated expernjiture. All restricted funds received dunng the year were utilised in compliance with their purpose5. Note 12 Related Pa Trnnsactions Name Don Bawtree John Puttock Tvor Cristsn Nick Tucker John Puttock Nick Tucker 2024 £45,701 £45 701 £45,701 £45.701 £13,250 £13 250 2023 £37 008 £37,008 £37 008 £37 008 £13000 £13,000 Role PCC Member PCC Member PCC Member Incumbent Trustee of Books Alive Trustee of Books Alive Descri rrnts lo BH towards staff costs Pa ments to BH towards staff costs Pa ments to BH towards staff costs Pa ments to BH towards staff costs Rents aid b Books Alive Rents aidb BkSAI1Ve The Trustees neither e1ved nor waived any emoluments during the year12023-£Nil). 14