**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 2024**
**CROWN CHRISTIAN HERITAGE TRUST Charity registration No. 1143662**
## **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 2024**
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 2024.
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 L M Mullins (appointed 29 October 2021) Mr D T Morlan (appointed 29 October 2021)
## **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 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 is £536,790 (2023: £603,831.81), of which £4,790 (2023: £474) related to unrestricted fund activities. As can be seen from the statement of Cash Flows on page 6, £713,030 (2023: £697,277)
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 2024**
(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 TO THE TRUSTEES OF CROWN CHRISTIAN HERITAGE TRUST**
Page 3
I report on the accounts of the Company for the year ended 31 March 2024. 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 that _
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.
RR.ACCOUNTANTS
Date:
Page 4
## **CROWN CHRISTIAN HERITAGE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
(incorporating the company's income & expenditure account)
|||**Unrestricted**|**Restricted**||**Unrestricted**|**Restricted**||
|---|---|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Total**|**Funds**|**Funds**|**Total**|
|||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**Note**|£|£|**£**|£|£|**£**|
|**Income from:**||||||||
|Donations and legacies||178,551||178,551|206,336|28,358|234,694|
|Rent received||-|-|-|3,547|-|3,547|
|From charitable activities|Students fee|-|-|-|-|-|-|
|Event fees charged||-|-|-|-|-|-|
|Assets - Donated|||532,000|532,000|-|575,000|575,000|
|**Total income**||**178,551**|**532,000**|**710,551**|**209,883**|**603,358**|**813,241**|
|Resources expended||||||||
|Fundraising & Publicity||14,259|-|14,259|13,971|-|13,971|
|Charitable Activities|2|159,502|-|159,502|195,439|-|195,439|
|**Total Resources Expended**||**173,761**|**-**|**173,761**|**209,409**|**-**|**209,409**|
|Net Movement of Resources||4,790|532,000|536,790|474|603,358|603,832|
|Transfer between Funds||-|-|-|||-|
|||**4,790**|**532,000**|**536,790**|**474**|**603,358**|**603,832**|
|Funds brought forward||**1,411,625**|**640,424**|**2,052,049**|**1,411,151**|**37,066**|**1,448,217**|
|Funds carried forward||**1,416,415**|**1,172,424**|**2,588,839**|**1,411,625**|**640,424**|**2,052,049**|
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 2024**
|**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**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
£
£
**£**
£
£
**£**
3,021,450
-
3,021,450
2,484,252
-
2,484,252|
|---|---|
||595
-
595
595
-
595
107,071
-
107,071
(535,446)
640,424
104,978|
||**107,666**
**-**
**107,666**
**(534,851)**
**640,424**
**105,573**|
||2,500
-
2,500
-
-
-
105,166
-
105,166
(534,851)
640,424
105,573|
||**3,126,616**
**-**
**3,126,616**
**1,949,401**
**640,424**
**2,589,825**|
||537,777
-
537,777
537,777
-
537,777|
||**2,588,839**
**-**
**2,588,839**
**1,411,625**
**640,424**
**2,052,049**|
|||
||**2,588,839**
**-**
**2,588,839**
**1,411,625**
**640,424**
**2,052,049**|
||-|
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 2024**
|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 & equipment
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|**Unrestricted Restricted**
**Unrestricted Restricted**
**Funds**
**Funds**
**Total**
**Funds**
**Funds**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
£
£
**£**
£
£
**£**
4,790
-
4,790
474
603,358
603,832
10,963
-
10,963
8,355
-
8,355
-
-
-
3,547
-
3,547
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|
||**15,753**
**-**
**15,753**
**12,376**
**603,358**
**615,734**|
||-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
||**-**
**-**
**-**
**-**
**-**
**-**|
||15,753
-
15,753
12,376
603,358
615,734
56,853
640,424
697,277
44,477
37,066
81,543|
||**72,606**
**640,424**
**713,030**
**56,853**
**640,424**
**697,277**|
**CROWN CHRISTIAN HERITAGE TRUST**
Page 7
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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 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 basis over their expected useful lives, at the following annual rates:
|at the following annual rates:||
|---|---|
|Office equipment|25%|
|Pland and Machinery|20%|
|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 existance for the forseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the accounts.
|**2. Charitable Activities**
Expenses of running events
Venue hire
Catering costs
Equipment expenses/hire
Motor expenses
Trophies & prizes
Speakers fees|Unrestricted
Restricted
Unrestricted
Restricted
Funds
Funds
**Total**
Funds
Funds
**Total**
2024
2024
**2024**
2023
2023
**2023**
£
£
£
£
£
£
36,857
-
36,857
22,959
22,959
38,999
-
38,999
-
-
-
-
16,016
16,016
6,206
-
6,206
51,931
51,931
9,431
-
9,431
25,845
25,845
-
-
-
-
1,980
-
1,980
-
-
-|
|---|---|
||**93,472**
**-**
**93,472**
**116,751**
**-**
**116,751**|
**CROWN CHRISTIAN HERITAGE TRUST**
Page 8
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024**
|**Support costs**
Postage & stationery
Telephone
Insurance
Repairs & renewals
Light & heat
Rent & council tax
Bank and financial charges
Loan interest
Depreciation
IT COST
Donations
Entertainment
Subscriptions
Sundry expenses
**Governance Costs**
Independent examination
Legal & professional fees
Annual return fee
Total Charitable Activities
Fundraising & publicity
Total resources expended|**Unrestricted**
**Restricted**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**Total**
**Funds**
**Funds**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
£
£
£
£
£
£
1,734
-
1,734
1,225
-
1,225
-
-
-
166
-
166
10,633
-
10,633
5,497
-
5,497
5,177
-
5,177
42,302
-
42,302
-
-
-
70
-
70
2,453
-
2,453
3,161
-
3,161
39
-
39
2,818
-
2,818
-
-
-
-
-
-
11,502
-
11,502
8,355
-
8,355
3,361
-
3,361
1,991
-
1,991
4,785
-
4,785
-
-
-
2,920
-
2,920
-
-
-
-
-
-
-
-
-
2,082
-
2,082
715
-
715|
|---|---|
||**44,685**
**-**
**44,685**
**66,300**
**-**
**66,300**|
||2,500
-
2,500
2,320
-
2,320
18,845
-
18,845
10,068
-
10,068
-
-
-
-
-
-|
||21,345
-
21,345
12,388
-
12,388|
|||
||**159,502**
**-**
**159,502**
**195,439**
**-**
**195,439**|
||14,259
-
14,259
13,971
13,971|
||**173,761**
**-**
**173,761**
**209,409**
**-**
**209,409**|
|**3. Net Movement of Resources**
This is stated after charging:-
Depreciation
Independent Examiner's Remuneration
(Profit)/ Loss on disposal
Debtors Written off
Director's Remuneration|Unrestricted
Restricted
Unrestricted
Restricted
Funds
Funds
**Total**
Funds
Funds
**Total**
2024
2024
**2024**
2023
2023
**2023**
£
£
£
£
£
£
10,963
-
10,963
8,355
-
8,355
2,500
-
2,500
2,320
-
2,320
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|
||**13,463**
**-**
**13,463**
**10,675**
**-**
**10,675**|
**CROWN CHRISTIAN HERITAGE TRUST**
Page 9
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (Cont.)**
|**4. Tangible Fixed Assets**
Cost or Valuation
Additions- Donated Asset
Disposals
Depreciation
Acc Dep b/f
Disposals
Charge for the Year
At 31 March 2024
Net Book Value 31 March 2024
Net Book Value 31 March 2023|**Freehold**
**Plant &**
**Office**
**Motor**
**Furniture &**
**Land&Building**
**Machinery Equipment**
**Vehicles**
**Fittings**
2,469,868
-
17,631
29,863
31,831
500,000
32,000
16,700
-
-
-
-
-
**2,969,868**
**32,000**
**17,631**
**46,563**
**31,831**
-
-
15,475
29,863
19,603
-
-
-
-
-
6,400
539
3,340
1,223
-
6,400
16,014
33,203
20,826
**2,969,868**
**25,600**
**1,617**
**13,360**
**11,005**
**2,469,868**
**-**
**2,156**
**-**
**12,228**|**Total**
2,549,193
548,700
-|
|---|---|---|
|||**3,097,893**|
|||49,466
-
10,963|
|||56,586|
|||**3,021,450**|
|||**2,484,252**|
-
|**5. Debtors**
Gift Aid debtors
Other debtors and prepayments|**Unrestricted**
**Restricted**
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**Total**
**Funds**
**Funds**
**Total**
**2024**
**2024**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
-
-
-
-
595
-
595
-
595|
|---|---|
||**595**
**-**
**-**
**595**
**-**
**595**|
**CROWN CHRISTIAN HERITAGE TRUST**
Page 10
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (Cont.)**
|**6. Creditors: Amounts due Within**
**One Year**
Trade creditors & accruals
Other Creditors
Loan - Oxford House|Unrestricted
Restricted
Unrestricted
Restricted
Funds
Funds
**Total**
Funds
Funds
**Total**
2024
2024
**2024**
2023
2023
**2023**
£
£
£
£
£
£
2,500
-
2,500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|
|---|---|
||**2,500**
**-**
**2,500**
**-**
**-**
**-**|
## **7. Creditors: Amounts due Over**
|**7. Creditors: Amounts due Over**||
|---|---|
|**One Year**
Other Creditors
Loan - Crown College|3702
**-**
3,702
3,702
-
3,702
534,075
-
534,075
534,075
-
534,075|
||**537,777**
**-**
**537,777**
**537,777**
**-**
**537,777**|
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 2024 (2023: nil)
## **10. Capital commitments**
There were no capital commitments at 31 March 2024 (2023: nil)
## **11. Restricted Funds**
Restricted funds mostly comprise the specific projects for which contributions are sought during the year.