Company registration No. 07644381 Charity registration No. 1143662
CROWN CHRISTIAN HERITAGE TRUST
A company limited by guarantee
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
Contents:
Page 1 - 2 Directors' report Page 3 Independent Examiner's report Page 4 Statement of financial activities Page 5 Balance sheet Page 6 Statement of Cash Flows Page 7 - 10 Notes to the financial statements
CROWN CHRISTIAN HERITAGE TRUST
Page 1
TRUSTEES' ANNUAL REPORT INCLUDING DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2022
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 2022. 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 ( Appointed 31/03/2020) Mr D T Morlan (Appointed 29 /10/2021) Mr L M Mullins (Appointed 29 /10 2021) Mr J R Zenker ( Appointed 31/07/2013)
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 £13,000 (2021: £51,000), of which £13,000 (2021: £49010) related to unrestricted fund activities.
. 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 2022 (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.
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 2022, which are set out on pages 4 to 10.
Respective responsibilities 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 charities 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 Practice - 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.
I.RASHID FCCA, FFA, FIPA,
Date:
CROWN CHRISTIAN HERITAGE TRUST
Page 4
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
(incorporating the company's income & expenditure account)
| Unrestricted | Restricted | Unrestricted | Restricted | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Total | Funds | Funds | Total | ||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | ||||
| Note | £ | £ | £ | £ | £ | £ | |||
| Income from: | |||||||||
| Donations and legacies | 149,854 | 149,854 | 25,632 | 50,773 | 76,405 | ||||
| Wayleave | 145 | - | 145 | ||||||
| Rent received | 0 | 12,000 | - | 12,000 | |||||
| From charitable activities | |||||||||
| Students fees | |||||||||
| 0 | - | - | - | ||||||
| Event fees charged | 0 | - | 7,838 | 7,838 | |||||
| - | |||||||||
| Other sales | 0 | - | - | ||||||
| - | |||||||||
| Total income | 149,854 | 0 | 149,854 | 37,777 | 58,611 | 96,388 | |||
| Resources expended | |||||||||
| Fundraising & Publicity | 363 | 363 | 950 | 1,202 | 2,152 | ||||
| Charitable Activities | 2 | 136,187 | 136,187 | 34,900 | 8,260 | 43,160 | |||
| Total Resources Expended | 136,550 | 0 | 136,550 | 35,850 | 9,462 | 45,312 | |||
| Net Movement of Resources | 13,304 | 0 | 13,304 | 1,927 | 49,149 | 51,076 | |||
| Transfer between Funds | 47,083 | -47,083 | |||||||
| 13,304 | 0 | 13,304 | 49,010 | - | 2,066 | 51,076 | |||
| Funds brought forward | 1,397,847 | 37,066 | 1,434,913 | 1,348,837 | 35,000 | 1,383,837 | |||
| Funds carried forward | 1,411,151 | 37,066 | 1,448,217 | 1,397,847 | 37,066 | 1,434,913 |
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
CRWON CHRISTIAN heritage Trust
Balance Sheet As at 31 March 2022
Page 5
| Unrestricted | Restricted | Unrestricted | Unrestricted | Restricted | |||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Total | Funds | Funds | Total | ||||
| Note | 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |||
| £ | £ | £ | £ | £ | £ | ||||
| FIXED ASSETS | |||||||||
| Tangible Assets 4 | 1,917,607 | 1,917,607 | 1,919,117 | 1,919,117 | |||||
| CURRENT ASSETS | |||||||||
| Debtors 5 | 595 | 595 | 595 | 595 | |||||
| Cash at Bank & in hand |
26,484 | 37,066 | 63,550 | 11,670 | 37,066 | 48,736 | |||
| 27,079 | 37,066 | 64,145 | 12,265 | 37,066 | 49,331 | ||||
| CREDITORS: | |||||||||
| Due within one year 6 |
29,550 | 29,550 | 29,550 | 29,550 | |||||
| Net Current Assets | -2,471 | 37,066 | 34,595 | -17,285 | 37,066 | 19,781 | |||
| 1,915,136 | 37,066 | 1,952,202 | 1,901,832 | 37,066 | 1,938,898 | ||||
| CREDITORS: | |||||||||
| Due over one year 7 | 503,985 | 503,985 | 503,985 | 0 | 503,985 | ||||
| NET ASSETS | 1,411,151 | 37,066 | 1,448,217 | 1,397,847 | 37,066 | 1,434,913 | |||
| Financed by: | |||||||||
| RESERVES | |||||||||
| Accumulated Income Fund |
1,411,151 | 37,066 | 1,448,217 | 1,397,847 | 37,066 | 1,434,913 |
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
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31/03/2022
Page 6
| £ Cash flows from operating activities Net income/(expenditure) Adjustments for: Depreciation and loss on disposal Dividend, interest and rents (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by/ (used in) operating activities Cash flows from investing activities: Dividends, interest and rents Purchase of property, plant & equipmen Sale of fixed assets Change in cash & cash equivalents in the year Cash and cash equivalents at the start of the year Cash and cash equivalents at the end of the year |
Unrestri- Funds Restricted Funds Unrestrict Funds Total 2022 2022 2022 2021 £ £ £ 13,304 49,010 9,513 9,0 93 - 12,144 - 1,8 69 - - 47,666 |
Restricted Funds Total 2021 2021 £ £ 2,066 51,076 9,093 - 12,144 1,869 - 47,666 |
|---|---|---|
| 22,817 - - 162 |
2,228 | |
| - 12,146 - 1,919 9,990 |
12,146 - 1,919 |
|
| 9,990 - - 10,227 |
10,227 | |
| 32,807 10,389 11,670 1,281 |
2,066 12,455 35,000 36,281 |
|
| 44,477 - - 11,670 |
37,066 48,736 |
CROWN CHRISTIAN HERITAGE TRUST
Page 7
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022
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 organized 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:
Office equipment 25% Motor vehicles 20% Furniture, fixtures & fittings 10%
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 existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the accounts.
| 2. Charitable Activities Expenses of running events |
Unrestricted Restricted Unrestricted Restricted Funds Funds Total Funds Funds Total 2022 2022 2022 2021 2021 2021 £ £ £ £ £ £ 24,030 24,030 566 10,639 10,639 1,007 27,903 27,903 384 1,520 1,520 1,172 - 1,172 - 404 1,961 1,961 3,220 1,985 1,985 - |
|---|---|
| Venue hire Catering costs Equipment expenses/hire Motor expenses Trophies & prizes Sundry event costs Speakers fees |
|
| 68,038 0 68,038 1,172 5,581 6,753 |
CROWN CHRISTIAN HERITAGE TRUST
Page 8
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022
| Support costs Postage & stationery Telephone Insurance Repairs & renewals Light & heat Rent & council tax Bank and financial charges Loan interest Depreciation IT COST Donations Fee Charge Subscriptions Loss on disposal Sundry expenses Governance Costs Independent examination Legal & professional fees Annual return fee Total Charitable Activities Fundraising & publicity Total resources expended |
Unrestricted Restricted Funds Funds Total 2022 2022 2022 £ £ £ 6,577 6,577 62 62 3,714 3,714 27,822 27,822 2,079 2,079 3,022 3,022 29 29 - - 9,513 9,513 926 926 2,801 2,801 794 544 - 89 89 |
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 |
|---|---|---|
| 57,972 - 56,634 |
31,110 2,679 33,789 |
|
| 865 865 9,312 9,312 - |
825 825 1,780 5,580 13 13 |
|
| 10,177 - 10,177 |
2,618 2,618 |
|
| 136,187 0 134,849 |
34,900 8,260 43,160 |
|
| 363 363 |
950 1,202 2,152 |
|
| 136,550 0 45,312 |
35,850 9,462 45,312 |
| 3. Net Movement of Resources This is stated after charging:- Depreciation Independent Examiner's Remuneration (Profit)/ Loss on disposal Director's Remuneration |
Unrestricted Funds Restricted Funds Unrestricted Funds Restricted Funds Total Total 2022 2022 2022 2021 2021 2021 £ £ £ £ £ £ 9,513 9,513 9,093 9,093 865 865 825 900 0 0 |
|---|---|
| 10,378 0 10,378 9,918 0 9,993 |
Page 9
CROWN CHRISTIAN HERITAGE TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 (Cont.)
| 4. Tangible Fixed Assets Cost or Valuation At 31 March 2021 Additions Disposals - - At 31 March 2022 Depreciation At 31 March 2021 Disposals Charge for the Year At 31 March 2022 Net Book Value 31 March 2022 Net Book Value 31 March 2021 |
Freehold Land&Bldng 1,894,868 |
Office Equipment 15,118 2513 |
Motor Vehicles 24,373 15480 9990 |
Furniture & Fittings 31,831 - 31,831 13,282 3,183 16,465 15,366 18,549 |
Total ~~1966190~~ |
||
|---|---|---|---|---|---|---|---|
| ~~,,~~ 17,993.00 9,990.00 |
|||||||
| 1,894,868 | 17,631 | 29,863 | 1,994,173 | ||||
| 14,761 357 |
19,030 5,973 |
47,073 9,513 |
|||||
| - | 15,118 | 25,003 | 56,586 | ||||
| 1,894,868 | 2,513 | 4,860 | |||||
| 1,917,607 | |||||||
| 1,894,868 | 357 | 5,343 | |||||
| 1,919,117 |
| 5. Debtors Gift Aid debtors Other debtors and prepayments |
Unrestricted Funds Restricted Funds Total Unrestricted Funds Restricted Funds Total 2022 2022 2022 2021 2021 2021 £ £ £ £ £ £ - - - - - - 595 - 595 595 - 595 |
|---|---|
| 595 - 595 2,465 - 2,465 |
CROWN CHRISTIAN HERITAGE TRUST
Page 10
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 (Cont.)
| Unrestricted | Restricted | Unrestricted | Restricted | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Total | Funds | Funds | Total | |
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | |
| 6. Creditors: Amounts due Within One | £ | £ | £ | £ | £ | £ |
| Trade creditors & accruals | 3,702 | - | 3,702 | 3702 | - | 3702 |
| Loan - Crown College | 25,848 | - | 25,848 | 25848 | - | 25848 |
| Loan - Oxford House | - | - | - | - | ||
| 29,550 | - | 29,550 | 29550 | - | 29550 | |
| 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 (2021: nil).
9. Contingent Liabilities
There were no contingent liabilities at 31 March 2022 (2021: nil)
10. Capital commitments
There were no capital commitments at 31 March 2022 (2021: nil)
11. Restricted Funds
There were no restricted income / expenses.