DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
THE NOTTINGHAM ROAD TRUST (A Company Limited by Guarantee)
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
COMPANY NUMBER: 07723336 CHARITY NUMBER: 1147604
Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR Tel: 01509 214163
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 1 –
THE NOTTINGHAM ROAD TRUST
TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2021
The trustees present their annual directors’ report together with the Financial Statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements of the directors’ reports and accounts for Companies Act purposes.
The accounts comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015).
Objectives and Activities
The Objectives and Activities of the Trust are as follows:
1) To promote the Evangelical Christian faith, particularly through the promotion of church planting activity, through teaching, providing training resources, and conducting seminars and conferences to equip leaders with the skills required to deal with the spiritual and welfare needs of the church and the community.
2) The relief of financial hardship among persons either generally or individually through the provision of grants, goods or services as the trustees from time to time think fit.
3) To advance the Christian faith in such ways as the trustees from time to time think fit.
We as trustees recognise that it is our legal obligation to ensure that the trust's activities are in line with our objectives and activities and we are satisfied that this is the case for the period in question. The trustees also confirm that they have had regard to the charity commission's guidance on public benefit.
Achievements and Performance
The following activities have been conducted by the charity in the reporting period: -
Church Planting:
The trust continues to support North Church Leicester which was initially a plant from Christ Church Loughborough.
Salaries:
We have supported two church elders and an administrative team’s salaries over this period. These individuals have been employed as staff members for The Nottingham Road Trust (also now operating as Christ Church Loughborough). This has enabled the charity to meet its objectives by employing them to provide training and teaching which promotes the Evangelical Christian Faith, to provide administrative support for the Trust's activities and by promoting the Christian faith directly themselves as evangelists as well as equipping and training others to do the same.
Church Building:
Since 2018 the Trust has owned a church building on Herbert Street in Loughborough. We use this for church meetings and other activities. The Trust is currently overseeing an ongoing project to renovate the building.
Church Resources:
The Trust has paid for general resources for the charity to enable the church’s work of promoting the Christian faith. This includes buying new print resources, funds for refreshments at services and church publicity.
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 2 -
THE NOTTINGHAM ROAD TRUST
TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2021
Achievements and Performance (continued)
CCLI, CCPAS, Insurance:
We have paid money to CCLI, CCPAS and to gain insurance. This is necessary for the charity to run events which promote the Christian faith through church services and young people's work.
Events:
Due to the Covid-19 pandemic and government restrictions the Trust has not run a series of activities which it would normally have chosen to do in this time period.
Financial Review
The Trust had an income this financial year of £105,177 (£104,835 unrestricted and £342 restricted) and a total expenditure of £163,810 leading to a net loss of £58,633. We started the year with funds of £199,167 and so ended the year with a balance of £140,534. The trustees feel that this leaves us in a strong position to pursue our goals into the future.
Reserves Policy
The following is the reserves policy of the Nottingham Road Trust (hereafter known as the Trust).
- 1) When will money be held in reserve?
Money will be held in reserve for the following two reasons:
-
a. Three months' running costs will be kept in reserve at all times; this amount will be decided upon annually at the AGM.
-
b. Money may be set aside for one-off projects, which fit with the Trust's objectives and require setting money aside (e.g. raising money for a building).
Projects will be principally decided upon and initiated by the Trustees and then reported at the next trustees’ meeting.
- 2) How and when will it be spent?
Money will be spent if any of the following conditions are met:
-
a. If the Trustees notice a significant shortfall in the income of the trust, they will use an appropriate sum of money to fill this void. If it is considered that the shortfall will last more than three months, an emergency Trustees’ meeting shall be called to discuss matters.
-
b. If a project initiated by the Trustees reaches its completion, then money will be removed from reserves equivalent to this amount by the Trustees.
-
3) How and when will it be reviewed?
The policy will be reviewed at the AGM. The principal discussion will be:
-
a. To agree upon the limits of the reserve policy for the year under point 1a and 1b.
-
b. To review expenditure from the reserve policy under points 2a and 2b.
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 3 -
THE NOTTINGHAM ROAD TRUST
TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2021
Structure, Governance and Management
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 29 July 2011.
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association. New trustees are advised of their obligations under charity and company law, the content of the Memorandum and Articles of Association as well as the structure and decision making process of the charity. Trustees are put forward by the membership for consideration. New suggested appointments are voted on at the AGM in all instances.
The trustees determine the day to day operations of the charity or appoint appropriate officers to whom this responsibility is delegated.
Reference and Administration
Trustees
During this period Jonathan Woodrow and Catriona Hargest resigned as trustees due to restructuring.
Mrs Catriona Hargest (Resigned 16 September 2020) Mr Thomas Staunton Mr Christopher Rimmer Dr Jonathan Woodrow (Resigned 22 July 2020) Mr Andrew Snart Mr Alex Wright
Company Registered Number
07723336
Charity Registered Number
1147604
Registered Office
1 Princes Court Royal Way Loughborough Leics LE11 5XR
Independent Examiners
Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 4 -
THE NOTTINGHAM ROAD TRUST
TRUSTEES REPORT FOR THE PERIOD ENDED 31 MARCH 2021
Reference and Administration (continued)
Bankers
HSBC 41 Market Place Loughborough Leics LE11 3EJ
This report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.
Approved by the trustees on 16 November 2021 and signed on their behalf by:
…………………………………
Andrew Snart
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 5 -
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE NOTTINGHAM ROAD TRUST
I report on the accounts of the company for the period ended 31 March 2021 which are set out on pages 6 to 13.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 45 of the Charities Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, as amended); and
-
state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. 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 no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
which gives me 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; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of 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 order to enable a proper understanding of the accounts to be reached.
D R Gradon Cound & Co LLP Chartered Accountants 1 Princes Court Royal Way Loughborough Leics LE11 5XR
15 December 2021
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 6 -
THE NOTTINGHAM ROAD TRUST
STATEMENT OF FINANCIAL ACTIVITES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Fund | Fund | Funds | Funds | ||
| Note | 2021 | 2021 | 2021 | 2020 | |
| INCOME AND ENDOWMENTS FROM: | |||||
| Donations and legacies | 2 | 104669 | 342 | 105011 | 231914 |
| Charitable activities | 3 | - | - | - | 933 |
| Investments | 4 | 166 | - | 166 | 801 |
| ______ | ______ | ______ | ______ | ||
| TOTAL INCOME | 104835 ______ |
342 ______ |
£105177 ______ |
£233648 ______ |
|
| EXPENDITURE ON: | |||||
| Charitable activities | 5 | 111117 | 52693 | 163810 | 179417 |
| ______ | ______ | ______ | ______ | ||
| TOTAL EXPENDITURE | 111117 ______ |
52693 ______ |
£163810 ______ |
£179417 ______ |
|
| NET INCOME (EXPENDITURE) | (6282) | (52351) | (58633) | 54231 | |
| TRANSFERS BETWEEN FUNDS | 11 | (38769) | 38769 | - | - |
| _____ | _____ | ______ | ______ | ||
| NET MOVEMENT IN FUNDS | (45051) | (13582) | (58633) | 54231 | |
| RECONCILIATION OF FUNDS: | |||||
| Total funds brought forward | 180414 | 18753 | 199167 | 144936 | |
| ______ | ______ | ______ | ______ | ||
| TOTAL FUNDS CARRIED FORWARD | 11 | 135363 ______ |
5171 ______ |
£140534 ______ |
£199167 ______ |
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 7 -
THE NOTTINGHAM ROAD TRUST
BALANCE SHEET AS AT 31 MARCH 2021
| FIXED ASSETS Tangible Assets CURRENT ASSETS Debtors Cash at Bank and in Hand Liabilities – Creditors falling due within one year NET CURRENT ASSETS NET ASSETS THE FUNDS OF THE CHARITY: Unrestricted Funds Restricted Fund |
Notes 7 8 9 10 10 |
31 March 2021 30974 18180 96692 __ 114872 _ 5312 __ 109560 __ £140534 _ 135363 5171 £140534 ___ |
31 March 2020 31598 34626 134683 __ 169309 _ 1740 __ 167569 __ £199167 _ 180414 18753 £199167 ___ |
31 March 2020 31598 34626 134683 __ 169309 _ 1740 __ 167569 __ £199167 _ 180414 18753 £199167 ___ |
|---|---|---|---|---|
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006, relating to small companies.
Directors’ responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts;
-
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.
These financial statements were approved by the Board on 16 November 2021 and signed on its behalf by
…………………………………
A Snart Trustee
The information on pages 6 to 13 form an integral part of these financial statements.
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 8 -
THE NOTTINGHAM ROAD TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1 ACCOUNTING POLICIES
a) Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the Charities SORP (FRS 102): ‘Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) (effective 1 January 2016)’, FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (effective September 2016), the Charities Act 2011 and the Companies Act 2006. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The charity constitutes a public benefit entity under FRS102.
Assets and liabilities are initially recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy note and the financial statements are prepared on a going concern basis. The financial statements are prepared in sterling, which is the financial currency of the charity and rounded to the nearest £1.
b) Company Status
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
c) Fund Accounting
Undesignated general funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim of each restricted fund is set out in the notes to the financial statements.
d) Incoming Resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income after performance conditions have been met, the amount can be measured reasonably and it is probable that the income will be received. No amount included in the financial statements for volunteer time in line with SORP (FRS102).
e) Resources Expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the church to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached are fulfilled.
f) Tangible Fixed Assets and Depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:
- Computer/AV Equipment - 25% straight line basis Plant & Equipment - 15% on reducing basis
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 9 -
THE NOTTINGHAM ROAD TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| 2 3 4 5 |
DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Total Total 2021 2021 2021 2020 Donations 104669 342 £105011 £231914 __ INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds Total Total 2021 2021 2021 2020 Income from events - - £ - £933 __ _ INVESTMENTS Unrestricted Restricted Funds Funds Total Total 2021 2021 2021 2020 Interest received 166 - £166 £801 __ _ EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds Total Total 2021 2021 2021 2020 Grants to institutions 7260 39049 46309 4377 Ministry expenses 4600 50 4650 3637 Event expenses 837 - 837 5283 Outreach expenses 12 - 12 1089 Premises costs 1048 13582 14630 12128 Administration costs 3697 12 3709 6366 Sundry - - - 1423 Wages and salaries 90110 - 90110 142885 Accountancy fees 2100 - 2100 1620 Depreciation 113 - 113 609 Professional Fees 1340 - 1340 - __ _ 111117 52693 £163810 £179417 __ ____ |
|---|---|
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 10 -
THE NOTTINGHAM ROAD TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
6 STAFF COSTS
| Wages and salaries National insurance Less: Employment Allowance Pension Contributions Average number of employees The following trustees received remuneration during the year. Jonathan Woodrow |
2021 2020 83769 130339 7951 12013 (4000) (3000) 2390 3533 __ _ £90110 £142885 4 5 2021 2020 £38391 £36880 ___ |
|---|---|
Jonathan Woodrow received remuneration for his role as a pastor to the Church, not for his role as a trustee.
1 trustee was accruing retirement benefits during the period (2020: 1). No employee received remuneration in excess of £60,000 during the period (2020: none). The contributions are to a defined contribution pension scheme. The contributions in the year were £1152 (2020: £1070).
The following trustees and their partners were reimbursed for expenses incurred on behalf of the charity during the year:
| Alex Wright Christopher Rimmer Jonathan Woodrow Ruth Woodrow Andrew Snart Lily Staunton Tom Staunton |
2021 - 46 - - - - 290 _____ |
_ | 2020 189 1170 132 729 1174 181 - ____ |
|---|---|---|---|
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 11 -
THE NOTTINGHAM ROAD TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| 7 | FIXED ASSETS Tangible Assets Cost (or Valuation) At 1 April 2020 Additions Disposal At 31 March 2021 Depreciation At 1 April 2020 Charge for the Year Less: On Disposals At 31 March 2021 Net Book Value At 31 March 2021 Net Book Value At 31 March 2020 |
Freehold Property 30708 - - _ 30708 - - - - _ 30708 30708 |
Plant & Computer/AV Equipment Equipment Total 385 3350 34443 - - - - (1216) (1216) _ 385 2134 33227 _ 72 2773 2845 47 66 113 - (705) (705) _ 119 2134 2253 _ 266 - 30974 _ 313 577 £31598 _ |
|---|---|---|---|
The freehold property has an insurance value of £420,016. If this property is sold within 7 years of purchase that an additional payment is due. The amount to be paid is dependent on the disposal proceeds and the time between the purchase and disposal of the property.
- 8 DEBTORS – All receivable within one year
| Trade Debtors Gift aid reclaimable |
2021 2020 - - 18180 34626 __ _ £18180 £34626 __ |
2020 |
|---|---|---|
- 9 CREDITORS – Amounts falling due within one year
| Other Creditors Accruals |
2021 3572 1740 _ £5312 ____ |
2020 - 1740 _ £1740 ___ |
2020 |
|---|---|---|---|
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 12 -
THE NOTTINGHAM ROAD TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
10 STATEMENT OF FUNDS
| STATEMENT OF FUNDS | |||
|---|---|---|---|
| At 31 March 2020 Unrestricted Funds 180414 Restricted Funds 18753 __ Total Funds £199167 _ Restricted Funds are represented by: B/Fwd at 31 March 2020 North Church - Loughborough Church 18753 18753 ___ |
Income 104835 342 __ 105177 _ Income 342 - 342 ___ |
Expenditure (111117) (52693) __ (163810) _ Expenditure (39111) (13582) (52693) ___ |
At 31 March Transfers 2021 (38769) 135363 38769 5171 _ _ - £140534 C/Fwd at 31 March Transfers 2021 38769 - - 5171 __ __ 38769 5171 _ ___ |
The North Church project relates to the Charity’s success in establishing a second church in the Leicester region.
The Loughborough Church funds relate to donations received for the specific use of the Loughborough church.
11 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| ANALYSIS OF NET ASSETS BETWEEN FUNDS | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Funds | Funds | Funds | |
| Fund balances at 31 March 2021 are represented by: | |||
| Fixed Assets | 30974 | - | 30974 |
| Current Assets | 109701 | 5171 | 114872 |
| Current Liabilities | (5312) | - | (5312) |
| ______ | ______ | ______ | |
| Total Net Assets | 135363 ______ |
5171 ______ |
140534 ______ |
| Fund balances at 31 March 2020 are represented by: | |||
| Fixed Assets | 31598 | - | 31598 |
| Current Assets | 150556 | 18753 | 169309 |
| Current Liabilities | (1740) | - | (1740) |
| ______ | ______ | ______ | |
| Total Net Assets | £180414 ______ |
£18753 ______ |
£199167 ______ |
DocuSign Envelope ID: BD6CD7A9-2DA4-47F4-9C48-382BABAB7370
- 13 -
THE NOTTINGHAM ROAD TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
12 RELATED PARTY TRANSACTIONS
Mrs Rebekah Spriggs, the wife of former trustee Matthew Spriggs received the following during the period:
| Office rent | 2021 - _ £ - _ |
2020 150 _ £150 ___ |
|
|---|---|---|---|
The total value of unconditional donations made by the trustees in the year was £35200.