## ## ## **CROWN CHRISTIAN HERITAGE TRUST Page 1** ## **TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2021** The directors (who are also the charity trustees) have pleasure in presenting their report and the financial statements of the company for the year ended 31 March 2021. This report has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies. ## **Reference and administrative details** The company is a registered charity no. 1143662. The principal office and registered office of the charity is : Crown Hall, Kidderminster Road, Hampton Lovett, Droitwich, Worcestershire, WR9 0LX. The directors (who are also the charity trustees) are as follows :- Mr Z W Gillit Mr D T Morlan (appointed 29 October 2021) Mr J M Tomlinson (deceased 25 January 2021) Mr L M Mullins (appointed 29 October 2021) Mr J R Zenker ## **Structure, governance and management** The charity is a company limited by guarantee, registration no. 07644381, and it is therefore governed by its Memorandum and Articles of Association. New trustee directors are appointed from time to time as required, by the vote of the the existing trustees. ## **Objectives and performance** The objectives of the Charity are to advance the Christian faith, in the provision of retreats and camps for young people, staging conferences on various matters relating to Christian service, and other similar activities. ## **Achievements and performance** During the year under review, the Charity continued to operate various conferences and other events such as children's camps. The Charity also continued to provide training for Christian service to students in residence at its Crown Hall premises. ## **Public Benefit** In carrying out its activities in the year under review, the trustees have had regard to the public benefit guidance issued by the Charity Commission, and are satisfied that the activities mentioned above have all been for the public benefit. ## **Financial review** The results for the year are set out in the Statement of Financial Activities on page 4. The company made a surplus for the year of just over £51,000 (2020: £229,000), of which £49,000 (2020: £347,000) related to unrestricted fund activities. As can be seen from the statement of Cash Flows on page 6, £1,900 (2020: £433,000) was utilised in paying for new capital assets and improvements to the property by the company. The directors consider that the state of affairs of the company is satisfactory. The company has insufficient monies available for investment purposes to warrant a formal investment policy at the present time. ## **CROWN CHRISTIAN HERITAGE TRUST Page 2** ## **TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2021 (CONT.)** ## **Financial review (cont.)** The major risks to which the company is exposed, as identified by the directors, are regularly reviewed. Systems are in place to mitigate those risks and further systems are established as necessary. ## **Reserves policy** The company holds no long term reserves. Its policy is to build up sufficient liquid reserves to cover six months outgoings. ## **Independent examiner** David Cooke & Co, Chartered Accountants, have indicated their willingness to continue in office. A resolution to re-appoint them will be presented to the members at the Annual General Meeting. By Order of the Board Z W Gillit, Director Date: _______________________ ## **INDEPENDENT EXAMINER'S REPORT Page 3** ## **TO THE TRUSTEES OF CROWN CHRISTIAN HERITAGE TRUST** I report on the accounts of the Company for the year ended 31 March 2021, which are set out on pages 4 to 10. ## **Respective responsibilites of trustees and examiner.** The charity's trustees 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 (2) of the chatities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to : examine the accounts(under section 145 of the Act); to follow the procedure laid down in the General Directions given by the Charity Commissioners (under section 145 (5)(b) of the Act); and to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent Examiner's Statement, report and opinion** In connection with my examination, I can confirm thst _ 1) In accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008, the accounts of this incorporated charity are not required to be audited under Part 16 of the Companies Act 2006; 2) this is a report in respect of an examination carried out under section 145 of the Charities Act 2011 and in accordance with any directions given by the Commission under that section which are applicable; 3) and that no matter has come to my attention in connection with my examination which gives the reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 386 of the Companies Act 2006; to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and; that the financial statements be prepared in accordance with the methods and principles set out in the Statement of Recommended Practise - Accounting and Reporting by Charities. have not been met; or to which, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached. David Cooke MA (Oxon) FCA FCIE David Cooke and Co Chartered Accountants 5 Briar Close Banbury, Oxon OX16 9DS Date: _______________ ## **CROWN CHRISTIAN HERITAGE TRUST Page 4** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021** (incorporating the company's income & expenditure account) |Note
**Income from:**
Donations and legacies
Wayleave
Rent received
From charitable activities
Students fees
Event fees charged
Other sales
**Total income**
**Resources expended**
Fundraising& Publicity
Charitable Activities
2
Total Resources Expended
**Net Movement of Resources**
Transfer between Funds
**Funds brought forward**
**Funds carried forward**|Unrestricted
Restricted
Unrestricted
Restricted
Funds
Funds
Total
Funds
Funds
Total
**2021**
**2021**
**2021**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
25,632
50,773
**76,405**
30,136
230,024
260,159
145
-
**145**
145
-
145
12,000
-
**12,000**
2,000
-
2,000
-
-
**-**
25,848
-
25,848
-
7,838
**7,838**
-
46,021
46,021
-
-
**-**
1,356
2,354
3,710
**-**
37,777
58,611
**96,388**
59,485
278,399
337,884
950
1,202
**2,152**
967
1,432
2,399
34,900
8,260
**43,160**
55,607
50,897
106,504
35,850
9,462
**45,312**
56,574
52,329
108,903
1,927
49,149
**51,076**
2,911
226,070
228,981
47,083
(47,083)
**-**
344,037
(344,037)
-
49,010
2,066
**51,076**
346,948
117,967
-
228,981
1,348,837
35,000
**1,383,837**
1,001,889
152,967
1,154,856
1,397,847
37,066
**1,434,913**
1,348,837
35,000
1,383,837| |---|---| The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. ## **CROWN CHRISTIAN HERITAGE TRUST Page 5** ## **BALANCE SHEET AS AT 31 MARCH 2021** |Note
**FIXED ASSETS**
Tangible Assets
4
**CURRENT ASSETS**
Debtors
5
Cash at Bank & in hand
**CREDITORS:**
Due within one year
6
Net Current Assets
**CREDITORS:**
Due over one year
7
**NET ASSETS**
Financed by:
**RESERVES**
Accumulated Income Fund|Unrestricted
Restricted
Unrestricted
Restricted
Funds
Funds
Total
Funds
Funds
Total
**2021**
**2021**
**2021**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
1,919,117
-
**1,919,117**
1,926,291
-
1,926,291
595
-
**595**
2,465
-
2,465
11,670
37,066
**48,736**
1,281
35,000
36,281
12,265
37,066
**49,331**
3,746
35,000
38,746
29,550
-
**29,550**
77,215
-
77,215
(17,285)
37,066
**19,781**
(73,469)
35,000
(38,469)
1,901,832
37,066
**1,938,898**
1,852,822
35,000
1,887,822
503,985
-
**503,985**
503,985
-
503,985
1,397,847
37,066
**1,434,913**
1,348,837
35,000
1,383,837

1,397,847
37,066
**1,434,913**
1,348,837
35,000
1,383,837| |---|---| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act applicable to companies subject to the small companies regime. Approved on behalf of the Board: ______________________ Z W Gillit, Director Date: _____________________ ## **CROWN CHRISTIAN HERITAGE TRUST Page 6** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021** ||Unrestricted|Restricted||Unrestricted|Restricted|| |---|---|---|---|---|---|---| ||Funds|Funds|Total|Funds|Funds|Total| ||**2021**|**2021**|**2021**|**2020**|**2020**|**2020**| ||**£**|**£**|**£**|**£**|**£**|**£**| |**Cash flows from operating activities**||||||| |Net income/(expenditure)|49,010|2,066|51,076|2,911|226,070|228,981| |Adjustments for:||||||| |Depreciation and loss on disposal|9,093|-|9,093|9,516|-|9,516| |Dividend, interest and rents|(12,144)|-|(12,144)|(147)|-|(147)| |(Increase)/decrease in debtors|1,869|-|1,869|5,404|-|5,404| |Increase/(decrease) in creditors|(47,666)|-|(47,666)|40,257|-|40,257| |Net cash provided by/||||||| |(used in) operating activities|162|2,066|2,228|57,941|226,070|284,011| |**Cash flows from investing activities:**
Dividends, interest and rents
Purchase of property, plant & equipmen
Sale of fixed assets|12,146
(1,919)
-|-
-
-|12,146
(1,919)
-|146
(89,058)
-|-
(344,037)
-|146
(433,095)
-| ||10,227|-|10,227|(88,912)|(344,037)|(432,949)| |Change in cash & cash equivalents
in the year
Cash and cash equivalents at
the start of the year
Cash and cash equivalents at|10,389
1,281|2,066
35,000|12,455
36,281|(30,971)
32,252|(117,967)
152,967|(148,938)
185,219| |the end of the year|11,670|37,066|48,736|1,281|35,000|36,281| ## **CROWN CHRISTIAN HERITAGE TRUST Page 7** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1. Accounting Policies** The following accounting policies have been used consistently in dealing with items which are considered material in relation to the Company's Financial Statements. ## (a) Accounting Convention. The Financial Statements are prepared under the Historical Cost Convention, in accordance with the Financial Reporting Standard 102 and the related Charities SORP effective from 2015. ## (b) Income. Voluntary income represents cash received during the year, including tax repayments receivable. Donations in kind, where material, are included at valuation. Fees charged to participants comprises the fees charged to those attending conferences and other events organised by the Company. ## (c) Resources Expended The Company is not VAT registered and is therefore unable to reclaim VAT on expenditure. All amounts of VAT are recorded with the sums to which they are charged. Expenditure is charged to the accounts on the accruals basis. ## (d) Depreciation. All fixed assets are written off on a straight line balance basis over their expected useful lives, at the following annual rates: **----- Start of picture text -----**
||| |---|---| |Office equipment|25%| |Motor vehicles|20%| |Furniture, fixtures & fittings|10%| **----- End of picture text -----**
It is the Company's policy to maintain it's properties to a high standard. Because of this, the property have an estimated life of more than 50 years and accordingly no provision for depreciation is made. The properties are subject to regular review to consider whether any impairment in their value has occurred ## (e) Going concern At the time of approving the accounts, the director's have a reasonable expectation that the Company has adequate resources to continue in operational existance for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the accounts. **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |Unrestricted|Restricted|Unrestricted|Restricted| |Funds|Funds|Total|Funds|Funds|Total| |2021|2021|2021|2020|2020|2020| |£|£|£|£|£|£| |2. Charitable Activities| |Expenses of running events| |Venue hire|-|566|566|2,475|16,376|18,851| |-|-| |Catering costs|1,007|1,007|8,435|8,435| |Equipment expenses/hire|-|384|384|-|11,494|11,494| |-| |Motor expenses|1,172|1,172|4,521|3,575|8,096| |Trophies & prizes|-|404|404|-|681|681| |-|-| |Sundry event costs|3,220|3,220|5,702|5,702| |Speakers fees|-|-|-|-|775|775| |Professional fees|-|-|-|-|101|101| |1,172|5,581|6,753|6,996|47,139|54,135| **----- End of picture text -----**
## **CROWN CHRISTIAN HERITAGE TRUST Page 8** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021** |**Support costs**
Postage & stationery
Telephone
Insurance
Repairs & renewals
Light & heat
Rent & council tax
Bank and financial charges
Loan interest
Depreciation
Loss on disposal
Sundry expenses
**Governance Costs**
Independent examination
Legal & professional fees
Annual return fee
Total Charitable Activities
Fundraising & publicity
Total resources expended
**3. Net Movement of Resources**
This is stated after charging:-
Depreciation
Independent Examiner's Remuneration
(Profit)/ Loss on disposal
Director's Remuneration|Unrestricted
Restricted
Funds
Funds
Total
**2021**
**2021**
**2021**
**£**
**£**
**£**
418
2,335
**2,753**
374
-
**374**
3,620
-
**3,620**
8,485
-
**8,485**
3,470
-
**3,470**
3,490
-
**3,490**

105
344
**449**
1,000
-
**1,000**
9,093
-
**9,093**
-
-
**-**
1,055
-
**1,055**
31,110
2,679
**33,789**
825
-
**825**
1,780
-
**1,780**
13
-
**13**
2,618
-
**2,618**
34,900
8,260
**43,160**
950
1,202
**2,152**
35,850
9,462
**45,312**
Unrestricted
Restricted
Funds
Funds
Total
**2021**
**2021**
**2021**
**£**
**£**
**£**
9,093
-
**9,093**

825
-
**825**
-
-
**-**
**-**
-
**-**|Unrestricted
Restricted
Funds
Funds
Total
**2020**
**2020**
**2020**
**£**
**£**
**£**
173
466
639
358
-
358
3,078
333
3,411
313
1,406
1,719
8,237
-
8,237
2,127
438
2,565
57
1,115
1,172
17,491
-
17,491
9,516
-
9,516
-
-
-
768
-
768
42,118
3,758
45,876
900
-
900
5,580
-
5,580
13
-
13
6,493
-
6,493
55,607
50,897
106,504
967
1,432
2,399
56,574
52,329
108,903
Unrestricted
Restricted
Funds
Funds
Total
**2020**
**2020**
**2020**
**£**
**£**
**£**
9,516
-
9,516
900
-
900
-
-
-
**-**
-
-| |---|---|---| ## **CROWN CHRISTIAN HERITAGE TRUST Page 9** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (Cont.)** |**4. Tangible Fixed Assets**
Cost or Valuation
At 31 March 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 31 March 2020
Disposals
Charge for the Year
At 31 March 2021
Net Book Value 31 March 2021
Net Book Value 31 March 2020||Freehold
Land&Bldng
1,893,784
1,084
-
1,894,868
-
-
-
-
1,894,868
1,893,784|Office
Equipment
15,118
-
-
15,118
13,691
-
1,070
14,761
357
1,427|Motor
Vehicles
24,373
-
-
24,373
14,156
-
4,874
19,030
5,343
10,217|Furniture &
Fittings
30,996
835
-
31,831
10,133
-
3,149
13,282
18,549
20,863|**Total**
**1,964,271**
**1,919**
**-**
**1,966,190**
**37,980**
**-**
**9,093**
**47,073**
**1,919,117**
**1,926,291**| |---|---|---|---|---|---|---| Note: Additions to Freehold Land and Buildings In 2020 includes the acquisition of the private residence at 21 Meadow Close, Farmoor, Oxon. OX2 9PA which was purchased in December 2019, at a cost of 423,158 All of the fixed assets are used for direct charitable purposes. |Cost or Valuation
At 31 March 2019
Additions
Disposals
At 31 March 2020
Depreciation
At 31 March 2019
Disposals
Charge for the Year
At 31 March 2020
Net Book Value 31 March 2020
Net Book Value 31 March 2019
**5. Debtors**
Gift Aid debtors
Other debtors and prepayments|Freehold
Land&Bldng
1,466,683
427,101
-
1,893,784
-
-
-
-
1,893,784
1,466,683
Unrestricted
Funds
**2021**
**£**
-
595
595|Office
Motor
Equipment
Vehicles
15,118
18,379
-
5,994
-
-
15,118
24,373
12,168
9,282
-
-
1,523
4,874
13,691
14,156
1,427
10,217
2,950
9,097
Restricted
Funds
Total
**2021**
**2021**
**£**
**£**
-
**-**
-
**595**
-
**595**|Furniture &
Fittings
30,996
-
-
30,996
7,014
-
3,119
10,133
20,863
23,982
Unrestricted
Restricted
Funds
Funds
**2020**
**2020**
**£**
**£**
-
-
2,465
-
2,465
-|**Total**
1,531,176
433,095
-
1,964,271
28,464
-
9,516
37,980
1,926,291
1,502,712
Total
**2020**
**£**
-
2,465
2,465| |---|---|---|---|---| ## **CROWN CHRISTIAN HERITAGE TRUST Page 10** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (Cont.)** ||Unrestricted|Restricted||Unrestricted|Restricted|| |---|---|---|---|---|---|---| ||Funds|Funds|Total|Funds|Funds|Total| ||**2021**|**2021**|**2021**|**2020**|**2020**|**2020**| |**6. Creditors: Amounts due Within One Y**|**£**|**£**|**£**|**£**|**£**|**£**| |Trade creditors & accruals|3,702|-|**3,702**|1,367|-|**1,367**| |Loan - Crown College|25,848|-|**25,848**|25,848|-|**25,848**| |Loan - Oxford House|-|-|**-**|50,000|-|**50,000**| ||29,550|-|29,550|77,215|-|**77,215**| |**7. Creditors: Amounts due Over One Year.**
Loan - Crown College
503,985||-|**503,985**|503,985|-|**503,985**| The company was loaned the sum of £607,522 in October 2014 by Crown College of the Bible, Tennessee, USA to facilitate the purchase of the company's property. The loan is for a term of 30 years, and the interest is currently being charged at a rate of 3.25%pa. Crown College of the Bible holds a legal charge over the property in respect of the loan. Due to the Covid-19 pandemic. Crown College of the Bible, Tennessee, USA, deferred the interest due for the current year. This interest will be charged at the end of the loan term. ## **8. Directors** None of the directors (or any persons connected with them) received any remuneration during the year, nor were any of the Committee reimbursed for travel expenses during the year (2020: nil). ## **9. Contingent Liabilities** There were no contingent liabilities at 31 March 2021 (2020: nil) ## **10. Capital commitments** There were no capital commitments at 31 March 2021 (2020: nil) ## **11. Restricted Funds** Restricted funds mostly comprise the specific projects for which contributions are sought during the year. |Sunday School Pioneer
Camp Victory
Winter Retreat
Revangelise Church Planting
New Charities
Oxford Minister's Residence
Martin Tomlinson Fund||B/F
-
-
-
-
35,000
-
-
**35,000**|Income
-
4,021
3,817
-
-
48,707
2,066
**58,611**|Expenses
(1,060)
(4,459)
(3,145)
(598)
-
-
-
**(9,262)**|Transfer
1,060
438
(672)
598
-
(48,707)
-
**(47,283)**|C/F
-
-
-
-
35,000
-
2,066
**37,066**| |---|---|---|---|---|---|---| Note: (a) The money received for the Camp Victory and Winter Retreat activities are restricted to those activities, except that it is accepted that any surplus each year may be transferred to the General Fund.