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: 1. 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 2. 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.