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2023-08-31-accounts

Trustees’ Annual Report for the period 2022 / 2023

From 1[st] September 2022 To 31[st] August 2023

Charity name: Trinity Church Lower Earley

Charity registration number: 1147501

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The purpose of the charity is to advance
the Christian faith in the area of benefit in
accordance with the principles and
practices of the participating churches.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 In achieving its purpose, the Charity
engages in a range of activities, either on
its own or with others, including (but not
restricted to):
a) the celebration of public worship;
b) the teaching of the Christian faith;
c) mission and evangelism;
d) pastoral work, including visiting the
sick and the bereaved;
e) the provision of facilities with a
Christian ethos for the local
community, including (but not
restricted to) the elderly, the young
and other groups with special
needs; and
f) the support of other charities in the
UK and overseas.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The trustees confirm that due regard has
been paid to the guidance on public benefit,
as detailed below.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference
Policy on grant making Para 1.38 Trinity Church is committed to supporting
other charities using the biblical principle of
tithing. We aim to give 10% of relevant
income away to deserving causes, which
may be local, national, international,
environmental or combinations of these.
This is in addition to funds raised for
specific charities from the membership,
which are passed on without deductions to
the charities concerned.
Contribution made by
volunteers		 Para 1.38 The church recognises the enormous
contribution made by its volunteers,
whether in time, energy, engagement and
commitment to the church’s core values.
This cannot be quantified in monetary
terms but is invaluable in supporting the life
of the church and promoting the well-being
of those to whom we minister.
Examples include:
•
helping organise and run worship
services
•
assisting with pastoral work
•
helping run and organise groups for
toddlers, fathers, elderly people and
youth among others
•
aiming to show the light of Christ in
our neighbourhood, including
practical support for asylum seekers
and other needy groups

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 Trinity Church has made a point of being
an open and welcoming space in the
neighbourhood, where all can feel
accepted and welcomed. We offer practical
support and friendship in the name of
Jesus, to everyone who may come into the
church whatever their need. In particular
the church has offered a safe space for
several asylum seekers based in our area,
providing company, welcome and
friendship along with practical donations of
clothing and a warm space during the
winter.
Our weekly “Re:Fresh” café is run with the
specific aim of reducing loneliness and
isolation in our community, and this is
being used by the local GP practices in
social prescribing for their patients. We
also organise a community lunch on a
monthly basis, where a hot meal is
provided for anyone who wants to sign up,
for a nominal and voluntary monetary
contribution.
We organise another weekly café for
people whose first language is not English,
to help them practice their language skills
in a welcoming space with members of the
church who give their time to help these
people communicate.
Our toddlers group supports young
children, parents and carers, and our “Who
let the Dads out?”group helps fathers who

may have little contact with their schoolage children during the week, have some quality time to reconnect their relationship Over the past 18 months we have made a home in our church for a large number of Hong Kong Christians who have recently arrived in the UK and are now able to feel they can settle somewhere where they are welcomed and appreciated. They now hold weekly services in Cantonese, supporting the wider Hong Kong community who are increasingly moving into the area, and are also increasingly taking a greater part in the life of the church as a whole so that everyone involved is richer for the relationship. In addition to the church’s own work above, Trinity Church plays its part in TORCH (a network of local church-based hubs providing advice, support and friendship to anyone in the community who may be in difficulties. Trinity was a founder member of the TORCH network which arose out the needs highlighted by the recent pandemic, and has continued to offer support and volunteers to help with this work, including allowing TORCH employees to be paid via the Trinity payroll.

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 The church was in a healthy financial
position at the year end, having shown a
modest surplus over the year.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The church’s policy is to have a minimum
of 3 months’ expenses cover in the general
reserve, but at the Church Council meeting
on 20th September 2021 it was agreed that
for the present we would try to maintain 4
months’ cover in view of the uncertainty
arising from the pandemic.
Amount of reserves held Para 1.22 At the year end, the general reserve stood
at just under 4 months’ expenses.
In addition, there is currently a designated
reserve connected with monies raised and
spent by the new Hong Kong congregation.
This was designated so that it could be
clearly shown in the accounts, and to give
this very new part of our church the
opportunity to establish its likely income
and outgoings going forward. We are
moving forward towards further integration,
when the current designated fund will be
amalgamated with the general fund.
Details of fund materially in
deficit		 Para 1.24 There are no funds materially in deficit
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 N/A
Additional information (optional)
You may choose to include further statements		 where relevant about:
The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47 The principal source of income for the
church is donations from its members along
with associated Gift Aid where applicable.
We also currently receive income from
grants from the Anglican Church in support
of our employees’ salaries, but these are
on a time-limited basis to allow the church
to establish the posts and ensure they are
viable going forward.
The church’s other material source of
income is rentals of our rooms, but this and
the grants together make up less than 15%
of the total income of the church.
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46 Funds not immediately necessary for
ongoing expenses are deposited with the
Central Finance Board of the Methodist
Church.

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Constitution based on the Model Governing
Documents for a Single Congregation Local
Ecumenical partnership produced by
Churches Together in England
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Trinity Church is a charitable
unincorporated association set up as an
LEP as per the previous paragraph.
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Trustees who must have shown their
willingness to act as trustees, are elected at
the Annual General Meeting. If co-opted
during the year, their election is confirmed
at the following AGM.

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51
Other

Reference and Administrative details

Charity name Trinity Church Lower Earley
Other name the charity uses
Registered charity number 1147501
Charity’s principal address Trinity Church, Chalfont Close, Earley, Reading RG6 5HZ

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person (or body) entitled
to appoint trustee (if any)
Roderick John
Eades		 Chair & Secretary AGM
Jon Salmon Minister “
Veronica Elleson Treasurer “
Bethan Glenys
Jones		 14thMay 2023 “
Mark Cann “
Joanne Elizabeth
Salmon		 “
Dr Sarah Brayshaw “

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of
adviser
Name
Address
Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
Date
Veronica M Elleson Roderick J Eades

Treasurer		 Chair
07/06/2024
07/06/2024

TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page1/14

Trinity Church Lower Earley Trinity Church Lower Earley Trinity Church Lower Earley 1147501 1147501
Annual accounts for the period
Period
start date		 01/09/2022 To Period end
date		 31/08/2023

Section A Statement of financial activities

Recommended categories by
activity
Guidance Notes
Incoming resources (Note 3)
Income and endowments from:
Donations and legacies inc Gift Aid
S01
Charitable activities
S02
Other trading activities
S03
Investments
S04
Separate material item of income
S05
Other
S06
S07
Resources expended (Note 6)
Expenditure on:
Raising funds
S08
Charitable activities
S09
Separate material item of expense
S10
Other
S11
S12
S13
Net gains/(losses) on investments
S14
S15
Extraordinary items
S16
S17
S18
Other gains/(losses)
S19
S20
Reconciliation of funds:
S21
S22
Total
Net movement in funds
Total funds brought forward
Total funds carried forward
Total
Net income/(expenditure) before
investment gains/(losses)
Net income/(expenditure)
Transfers between funds
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets for the
charity’s own use		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05
265,987 7,071 - 273,058 153,448
15,865 - - 15,865 14,725
23,910 275 - 24,185 15,451
10,553 776 11,329 8,806
- 39,522 - 39,522 22,901
- - - - -
316,315 47,644 - 363,959 215,331
- - - - -
104,230 54,653 - 158,883 125,579
146,906 - - 146,906 82,048
1,972 - - 1,972 2,664
253,108 54,653 - 307,761 210,291
63,207 7,009
-		 - 56,198 5,040
- - - - -
63,207 7,009
-		 - 56,198 5,040
- - - - -
- - - - -
- - - - -
- - - - -
63,207 7,009
-		 - 56,198 5,040
79,770 30,735 - 110,505 105,465
142,977 23,726 - 166,703 110,505

TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page2/14

Section B Balance sheet

Fixed assets
Intangible assets (Note 15)
Tangible assets (Note 14)
Heritage assets (Note 16)
Investments (Note 17)
Total fixed assets
Current assets
Stocks (Note 18)
Debtors (Note 19)
Investments (Note 17.4)
Cash at bank and in hand (Note 24)
Total current assets
Creditors: amounts falling due within
one year (Note 20)
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
one year (Note 20)
Provisions for liabilities
Total net assets or liabilities
Funds of the Charity
Endowment funds (Note 27)
Restricted income funds (Note 27)
Unrestricted funds
Revaluation reserve
Total funds
Signed by one or two trustees on behalf of all
the trustees		 Guidance Notes
B01
B02
B03
B04
B05
B06
B07
B08
B09
B10

B11
B12
B13
B14
B15
B16
B17
B18
B19
B20
B21		 Unrestricted
funds
£
F01
Restricted
income
funds
£
F02		 Endowment
funds
£
F03		 Total this
year
£
F04		 Total last
year
£
F05
- - - - -
2,961,576 - - 2,961,576 2,715,096
- - - - -
- - - - -
2,961,576 - - 2,961,576 2,715,096
- - - - -
- - - - -
- - - - -
142,977 23,726 - 166,703 110,505
142,977 23,726 - 166,703 110,505
200 1,236 - 1,436 -
142,777 22,490 - 165,267 110,505
3,104,353 22,490 - 3,126,843 2,825,601
- - - - -
- - - - -
3,104,353 22,490 - 3,126,843 2,825,601
- - -
22,490 22,490 24,149
3,104,353 - 3,104,353 2,794,866
-
3,104,353 22,490 - 3,126,843 2,819,015
Signature Print Name Date of
approval
dd/mm/yyyy
Roderick Eades -
Chair		 07/06/2024
Veronica Elleson -
Treasurer		 07/06/2024

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TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page3/14

Notes to the Accounts

2) Basis of accounts preparation

Accounting policies

This is recognised when a liability is incurred committing the church to pay out resources.

d. VAT

Since the church is not VAT registered, all input VAT is included with the expenses to which it refers.

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TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page4/14

Section C Notes to the accounts (cont)

Note 3 Analysis of income

Note 3 Analysis of income Analysis of income
Donations and giftsincHK Ministry
GiftAid
Legacies
General grants provided by
government/other charities
Membership subscriptions and sponsorships
which are in substance donations
Donatedgoods,facilities and services
Other
Total
Rental income from church hall and rooms
Other
Total
Contributions to church expenses including
parochial fees
Solarpanel income
Contributionsfrom HK Fellowship
Other
Total
Interestincome
Dividendincome
Rentalandleasingincome
Other
Total
Insurance claim following stormdamage
Anglican dev fund grant re associate pastor
External fundingreTorchemployee salary
AnglicangrantreTorchemployee salary
AnglicangrantreHKpastor
Total
Conversion of endowment funds into income
Gain on disposal of a tangible fixed asset
held for charity's own use
Gain on disposal of a programme related
investment
Royalties from the exploitation of intellectual
propertyrights
Other
Total
Other information:
TOTAL INCOME
Analysis
Donations
and legacies:
Charitable
activities:
Other:
Other trading
activities:
Income from
investments:
Separate
material item
of income:		 Analysis Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
£
£
Donations and giftsincHK Ministry 237,116 5,719 - 242,835 131,034
GiftAid 25,140 1,352 - 26,492 22,313
Legacies 1,000 - - 1,000 101
General grants provided by
government/other charities		 2,731 - - 2,731 -
Membership subscriptions and sponsorships
which are in substance donations		 - - - -
Donatedgoods,facilities and services - - - - -
Other - - - -
Total 265,987 7,071 - 273,058 153,448
Rental income from church hall and rooms 15,865 - - 15,865 14,725
- - - - -
- - - - -
Other - - - - -
Total 15,865 - - 15,865 14,725
Contributions to church expenses including
parochial fees
 6,236 - - 6,236 2,718
Solarpanel income 5,240 - - 5,240 4,820
Contributionsfrom HK Fellowship 8,759 - - 8,759 3,789
Other 3,675 275 - 3,950 4,124
Total 23,910 275 - 24,185 15,451
Interestincome 3,363 776 - 4,139 361
Dividendincome - - - - -
Rentalandleasingincome 7,190 - - 7,190 8,445
Other - - - - -
Total 10,553 776 - 11,329 8,806
Insurance claim following stormdamage - - - - 9,472
Anglican dev fund grant re associate pastor - 9,292 - 9,292 7,333
External fundingreTorchemployee salary - 1,366 - 1,366 6,096
AnglicangrantreTorchemployee salary - 8,584 - 8,584 -
AnglicangrantreHKpastor - 20,280 - 20,280 -
Total - 39,522 - 39,522 22,901
Conversion of endowment funds into income - - - - -
Gain on disposal of a tangible fixed asset
held for charity's own use		 - - - - -
Gain on disposal of a programme related
investment		 - - - - -
Royalties from the exploitation of intellectual
propertyrights		 - - - - -
Other - - - - -
Total - - - - -
316,315 47,644 - 363,959 215,331
All income in the prior year was unrestricted except for:
(please provide description and amounts)		 Contributions to youth worker salary and costs (£11,981)
Anglican grant re associate paster salary (£7,333)
External funding re the Torch employee (£6,096)
Donationsfor EarleyHelpHub (£1,600)
Where any endowment fund is converted into income in the
prior period, please give the reason for the conversion.
Where any endowment fund is converted into income in the
reporting period, please give the reason for the conversion.
Within the income items above the following items are
material: (please disclose the nature, amount and any prior
year amounts)		 Donations and legacies above include £117,197 in donations
from the new HK congregation (prior year £25,951) which were
designated for their use while the congregation was establishing
itself in Trinity Church.

An additional £8,152.00.00 was raised for specific charities and passed through the church bank account

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Section C Notes to the accounts (cont)

Note 6 Analysis of expenditure

Analysis
Expenditure on charitable activities:		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
This year
Last year		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
This year
Last year		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
This year
Last year		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
This year
Last year		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
This year
Last year		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
This year
Last year		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
This year
Last year		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total funds
Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
This year
Last year
Salaries and wages 48,203 51,733 - 99,936 47,281 14,831 - 62,112
Mission giving 19,051 - - 19,051 16,138 - - 16,138
Repairs and maintenance 13,364 - - 13,364 26,183 - - 26,183
Utilities inc buildings insurance 12,826 - - 12,826 6,103 - - 6,103
Other 10,786 2,920 - 13,706 7,411 7,632 - 15,043
Total expenditure on charitable
activities		 104,230 54,653 - 158,883 103,116 22,463 - 125,579
Separate material item of expense
Parent church assessments 66,966 - - 66,966 66,102 - - 66,102
HK Ministry expenses 74,424 - - 74,424 15,946 - - 15,946
HK Fellowship expenses 5,516 5,516 - - - -
- - - - - - - -
Total 146,906 - - 146,906 82,048 - - 82,048
Other
Buildings equipment purchase 1,972 - - 1,972 2,664 - - 2,664
- - - - - - - -
- - - - - - - -
- - - - - - - -
Total other expenditure
TOTAL EXPENDITURE		 1,972 - - 1,972 2,664 - - 2,664
253,108 54,653 - 307,761 187,828 22,463 - 210,291

An additional £8,152.00 was raised for and paid to specific charities having passed through the church bank account

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Section C Notes to the accounts (cont)

Note 11 Paid employees

Please complete this note if the charity has any employees.

11.1 Staff Costs

This year:
Last year:
Salaries and wages (net)
Tax and NI
Other employee benefits
Total staff costs
Pension costs (defined contribution scheme)
Please provide details of expenditure on staff working for the
charity whose contracts are with and are paid by a related party
Please provide details of expenditure on staff working for the
charity whose contracts are with and are paid by a related party		 This year
£		 Last year
£
72,811 39,952
8,040 6,783
3,133 2,294
3,155 13,083
87,139 62,112
N/A
N/A

Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.

'true' in the box provided. 'true' in the box provided.
No employees received employee benefits (excluding employer
pension costs) for the reporting period of more than £60,000		 TRUE
Band Number of employees
This year
-		 Last year
-
£60,000 to £69,999
£70,000 to £79,999 - -
£80,000 to £89,999 - -
£90,000 to £99,999 - -
£100,000 to £109,999 - -
Fundraising
Charitable Activities
Governance
Other
Total
Please provide the total amount paid to key management
personnel (includes trustees and senior management) for their
services to the charity. For specific amounts paid to trustees, see
Note 28.
11.2 Average head count in the year
The parts of the charity in which the
employees work
Thisyear Lastyear
£ £
- -
This year
Number		 Last year
Number
Fundraising - -
Charitable Activities 7 5
Governance - -
Other - -
Total 7 5

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11.3 Ex-gratia payments to employees and others (excluding trustees) Please complete if an ex-gratia payment is made.

Please explain the nature of the payment

This year Last year Please state the legal authority or reason for making the payment This year Last year

----- Start of picture text -----
This year Last year
£ £
Please state the amount of the payment (or value of any waiver of a - -
right to an asset)
11.4 Redundancy payments
Please complete if any redundancy or termination payment is made in the period.
This year Last year
£ £
Total amount of payment - 11,739
The nature of the payment (cash, asset
etc.)
CASH
This year Last year
£ £
The extent of redundancy funding at the balance sheet date - -
Please state the accounting policy for any redundancy or
termination payments
Accounted for at date
of payment
----- End of picture text -----

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Section C Notes to the accounts (cont)

Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.

12.1 Please complete this note if a defined contribution pension scheme is operated.

Please explain the basis for allocating the liability and expense of
defined contribution pension scheme between activities and
between restricted and unrestricted funds.
Amount of contributions recognised in the SOFA as an expense		 Thisyear Lastyear
£
3,133		 £
2,294
Pension contributions are
allocated on the basis of
the post. In the case of
restricted funding posts,
the pension contributions
are allocated as
appropriate.

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Section C Notes to the accounts (cont)

Note 14 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

14.1 Cost or valuation

14.1 Cost or valuation
At the beginning of the year
Additions
Revaluations
Disposals
Transfers *
At end of the year		 Freehold land &
buildings
£		 Other land &
buildings
£		 Plant,
machinery and
motor
vehicles
£
Fixtures, fittings
and equipment
£		 Total
£
2,517,855 275,000 - 168,721 2,961,576
- - - - -
- - - - -
- - - - -
- - - - -
2,517,855 275,000 - 168,721 2,961,576

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TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page10/14

Section C Notes to the accounts (cont)

Note 20 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

20.1 Analysis of creditors

Accruals for grants payable
Bank loans and overdrafts
Trade creditors
Payments received on account for contracts or
performance-related grants
Accruals and deferred income
Taxation and social security
Pension liability not paid until September 2023
Total		 Amounts falling due within
oneyear		 Amounts falling due within
oneyear		 Amounts falling due after
more than oneyear		 Amounts falling due after
more than oneyear
This year
£		 Last year
£		 This year
£		 Last year
£
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
1,436 - - -
1,436 - - -

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TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page11/14

Section C Notes to the accounts (cont)

Note 24 Cash at bank and in hand

Note 24 Cash at bank and in hand
Other
Cash at bank and on hand
Total
Short term cash investments (less than 3 months maturity date)
Short term deposits		 This year
£		 Last year
£
- -
- -
166,703 110,505
-
166,703 110,505

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TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page12/14

Section C Notes to the accounts (cont)

Note 27 Charity funds

27.1 Details of material funds held and movements during the CURRENT reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

funds
Fund names Type PE, EE
**R or UR ***		 Purpose and Restrictions Fund
balances
brought
forward
£		 Income
£		 Expenditure
£		 Transfers
£		 Gains and
losses
£		 Fund
balances
carried
forward
£
General U Day to day business and charitable
activities. No restrictions		 67,002 189,457 -173,167 - - 83,292
Youth Fund R Payment of youth worker and related
expenditure		 24,149 7,813 -11,489 - - 20,473
HK Ministry and Fellowship U Designated for HK use during this period 12,768 126,857 -79,940 - - 59,685
Diocesan grant funds R Restricted funding for various posts - time
limited		 - 29,572 -28,587 - - 985
Other funds R Funds for Torch and Earley Help Hub 6,586 10,260 -14,578 - - 2,268
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Other funds N/a N/a - - - - - -
Total Funds 110,505 363,959 - 307,761 - - 166,703

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TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page13/14

Section C Notes to the accounts (cont)

Note 27 Charity funds (cont)

27.2 Details of material funds held and movements during the PREVIOUS reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

funds
Fund names Type PE, EE
**R or UR ***
Purpose and Restrictions		 Fund
balances
brought
forward
£		 Income
£		 Expenditure
£		 Transfers
£		 Gains and
losses
£		 Fund
balances
carried
forward
£
General U Day to day business and charitable
activities. No restrictions		 88,177 158,581 -170,856 -8,900 - 67,002
Youth Fund R Payment of youth worker and related
expenditure		 19,834 11,981 -7,666 - - 24,149
HK Ministry and Fellowship U Designated for HK use during this period - 29,740 -16,972 - - 12,768
Diocesan grant funds R Restricted funding for various posts - time
limited		 - 7,333 -7,333 - - -
Other funds R Funds for Torch and Earley Help Hub 1,903 7,696 -3,013 - - 6,586
Solar panel loan R Loan re purchase of solar panels (final
year)		 -4,450 - 4,450 - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Other funds N/a N/a - - - - - -
Total Funds 105,464 215,331 - 201,390 - 8,900 - 110,505

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TRINITY CHURCH LOWER EARLEY (1147501) Annual accounts for the period ending 31/08/2023 Page14/14

Section C Notes to the accounts (cont) Section C Notes to the accounts (cont) Section C Notes to the accounts (cont)
This year
Note 27 Charity funds (cont)
27.4 Designated funds
Planned use Purpose of the designation Amount
Use by the HK leadership for
the benefit of their
congregation		 To allow the new HK congregations at Trinity the chance to establish
themselves and be enabled to fully gauge the extent of their income and
expenditure, before this was amalgamated into the general fund		 117,197
Last year
Planned use Purpose of the designation Amount
Use by the HK leadership for
the benefit of their
congregation		 To allow the new HK congregations at Trinity the chance to establish
themselves and be enabled to fully gauge the extent of their income and
expenditure, before this was amalgamated into thegeneral fund		 25,951

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TRINITY CHURCH

INDEPENDENT EXAMINER’S REPORT

Accounts for Church Financial Year September 2022 to August 2023

Summary

The church’s accounts are in good order. Scrutiny of the payments showed that all were appropriate to the activities of the church[1] . Almost all the payments are now done and recorded online, and incoming paper invoices are also recorded in the computer files.

Trinity church’s own income rose from £178K in 2021/22 to £227K in 2022/23. The increase was attributable to a substantial increase (+26K) in donations and a much higher level (+24K) of grants. The grants are associated with a £25K increase in staffing costs and have a limited duration.

This year was the first full year of activity of the Hong Kong part of the church. This produced a surplus of £43.6K income over expenditure, compared with £10K in the part-year in 2021/22. The Hong Kong finances have been listed separately in the accounts, but are included in a single Trinity Church financial entity. Its total income in 2022/23 was £354K.

The final accounts are a fair view for the church’s accounting year 2022/23 (all funds). We have found no reportable matter of material significance[2] .

Recommendation

None.

Appropriate responses have been made to last year’s recommendation on separating or amalgamating the accounts of Earley Help Hub, Torch, and the Hong Kong activities. The Earley Help Hub has become the Torch Earley Help Hub and has its own bank account, while the Hong Kong activities now use the Trinity bank account and are included in the Trinity accounts.

Observation

As part of the process of integrating the HK activities into the combined Trinity Church, we expect the church to consider whether the combined relevant[3] income should become the basis for the 10% Mission Giving policy.

1 These include some activities of other organisations which the church has been supporting. 2 See Reference 2 for an official interpretation of this statement. 3 Relevant income excludes some items such as grants and insurance claims

1

Examination Method

The method is described in Ref.1. In line with common practice to examine at least one aspect in more depth, an examination was made of the Hong Kong expenses. Although this topic was included last year, the HK activities have now become a major new part of Trinity’s activities, accounting for about 35% of the total income.

Findings

Independent Examination Requirements

The church’s trustees consider that an audit is not required for the church’s accounting year 2022/23 since the annual turnover (gross income) was less than £1M but that an independent examination by an unqualified person is no longer adequate, on the grounds that the church’s turnover exceeded £250,000. This level of turnover now requires accrual accounts instead of the ‘receipts and payments’ accounts used in previous years. We confirm that the church’s turnover of £354K is in the range requiring a qualified Independent Examiner but not an audit.

Treasurer’s Summary of Accounts

This is a fair summary for the financial year. The accounts have been prepared using accruals, as is appropriate to the church’s turnover. In practice, there was little difference between the accruals accounts and those that would have arisen from receipts and payments.

Payments

All expenditure was properly incurred in the church’s activities (including associated activities – see below) or as donations to charities. In addition, money collected directly for charities was passed on without deductions and, in many cases, supplemented from the church’s ‘Mission Giving’ fund.

The principal expenses of the Hong Kong activities, for which this is the first full year within the Trinity system, have been paid from the church’s bank account, following appropriate authorisation of those who can incur or initiate such expenses.

Receipts

Inspection of the income records showed that all income had been transferred to the appropriate accounts and ‘restricted’ where donors specified this. Also, funds labelled ‘designated’ though not strictly limited, were generally used for the designated purpose..

Over 60% of the Trinity Church (excluding HK) income from church members now comes through regular standing orders or the equivalent Parish Giving Scheme. Both enable the church to recover an additional 25% tax rebate on donations from standard rate taxpayers. In addition, some donations arrive through individuals’ charity accounts in which tax rebates are included before the donations are made.

Receipts of £23K from room and Manse rentals have fully recovered from the Covid restrictions.

Many of the receipts for the HK activities of the church were also regular bank payments. The gift aid supplement was smaller, at £5K, than for the traditional church giving. There may be scope for increasing the proportion of gifts qualifying for gift aid.

The major transition to a combined UK/HK church has been supported by grants amounting to £32K in 2022/23. These will be reduced in future years once the transition is completed.

Accruals

This was the first year of accruals accounting, following previous years of ‘receipts and payments’ accounts. Accruals were therefore applied only at the end of the year. In practice so much of the

2

church’s annual income and expenditure is split into monthly amounts that the effect of accruals is very small. The only significant accrual was a pension contribution DD payment on 1 Sept (first day of 2023/24), accrued into the 2022/23 year.

Solar Panels

All repayments of interest-free loans were completed last year, so this was the first year of solar income (£5K) without costs associated with the initial capital.

Mission Giving and other Charitable Donations

The long standing policy of giving 10% of the church’s ‘voluntary income’ has been maintained with regard to the original Trinity (non-HK) income. The donations are entirely voluntary and do not create any legal obligations to make future donations.

Some special collections were made and passed on directly to charities, sometimes with supplements from the general Mission Giving funds.

Observation: As part of the process of integrating the HK activities into the combined Trinity Church, we expect the church to consider whether the combined relevant[4] income should become the basis for the 10% Mission Giving policy.

Manse Finances

Normal operation of the manse was restored before the start of 2021/22. The manse is managed by the Methodist church as equal partner and the costs deducted from the annual rental income are reasonable and fully documented. The Trinity half share of net income was £8.4 K and this level can reasonably be expected to continue.

Hong Kong Activities

2022/23 was the first full year of HK activities, which were financially just over a third of the total. The HK activities use the Trinity bank account and they are included in these 2022/23 accounts under HK headings. The HK income was about £47K more than the direct costs of room hire and HK staff costs.

Associated Activities

For many years the church has had minor associated activities, reported in previous independent examination reports under the title (Financially) Minor Activities, amounting to less than 5% of the total church finances. In 2021/22 the HK activities were listed in the accounts as ‘associated’ but in 2022/23 they are treated as part of Trinity Church.

Income and Expenditure

The church’s income rose from £178K (+£20K HK income) in 2021/22 to £227K (+£127K HK income) in 2022/23, a total income of £354K. Of this income £32K was attributable to grants to support the new Associate Minister and the HK amalgamation. This grant income will expire after another year.

The expansion to incorporate the HK activities has involved a further major increase in staff costs[5] , but there has been an even larger increase in income, resulting in a substantial excess of income over expenditure. About £24K of this increase was attributable to a grant towards the HK incorporation and

4 Relevant income excludes some items such as grants and insurance claims

5 Now including payments to those providing the HK ministry and pastoral activities.

3

this will expire after a further year. However, even discounting all the grants (£32K), the resultant income of £322K remained well above the expenditure of £293K.

Financial Reserves

Financial Reserves
The end of year position for 2022/23 is: (£) {with last year’s figures for comparison}
31 August 2023 31 August 2022
Bank accounts 166,702 110,504
Balance attributable to ‘associates’6 (2,269) (19,354)
----------- -----------
Net balance attributable to Trinity 164,433 91,150

The Trinity net balance was 56% of the annual expenditure (£293K). This is an increase from the 48% on 31 August 2022 even though the expenditure has increased by 40%.

The working reserve is well above the recommended minimum of 25% and also above the recommended ‘norm’ of 50% which is usually regarded as fully sufficient for all reasonable contingencies. Given that the last four years have included the pandemic and then the HK amalgamation, both of which might have been financially challenging, this level of reserve is very satisfactory.

Matters of Material Significance Reportable to UK Charity Regulators

In the course of independent examination we have found no matter of material significance reportable to UK charity regulators. {See Reference 2 Section 5 for the relevant criteria}.

References

6 This refers only to a Torch residue. HK activities and Earley Help Hub are no longer ‘associated activities’.

4