Charltable Incorporated Oryanlsatlon r•glstored numbor: 1151999 THE BROOKHOUSE HILL TRUST Roport and Fln•ncl•l Statements Yoar endgd 31 March 2026
THE BROOKHOUSE HILL TRUST REPORT AND FINANCIAL STATEMENTS 2025 CONTENTS Pago Trnsteow, report statement of Ilnanclal actlvltl Balance sheet Statement of ¢48h flows Not•¥ to th8 •ccounts Indopendent Examlnorf# raport
THE BROOKHOUSE HILL TRUST REPORT AND FINANCIAL STATEMENTS 2025 TRUSTEES, REPORT The trustees present their annual report and the financial statements for the year ended 31 March 2025, with the comparative year ended 31 March 2024. The report and financial Ststemenls comply with the requirements of th¢ Trust's goveming document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. LEGAL AND ADMINISTRATIVE DETAILS Tru8tee8 Joana Capela Timothy Fairbrother Paul Houghton Josef Korchinsky Reghtored Offlce Chanlrey House 67 Brookhouse Hill Fulwood Sheffield S103TB B•nkor• Kingdom Bank Media House Padge Road Nottingham NG9 2RS CAF Bank 25 Kings Hill Avenue Kings Hill Wesl M811ing, Kent ME194JQ Ind•pendent Examlnor Enc Paul German ACA 546 FoOd Road Sheffield S10 3QO 3TrUCTURE. GOVERNANCE AND MANAGEMENT The Trust was registered as a Charitable Incorporated Organisalion Iregislrab'on number 11519991 wrth the Charity Commission on 13 May 2013. The Trust is required to have a minimum of three trustees. The four Iruslees detailed above served foi the enb're year. The Iruslees are nonxecutive. They meet as necessary lo review all aspect$ of the TrLst'5 activities. including its finances, and to make planning decision$ for its ongoin9 work. Management of rlsk The trustees regularly consider the major risks to which Ihe Trust is exposed and are satisfied that 5y51ems and processes are in place to mitigate the Trust's eXFoSU to its major risks. The Trust's activities have been and will continue to in¢lude the provision of propety in the support of the Trust's objects. part funded by commercial debt. The most significant risks to the Trust will therefore the Tnjsl being unable lo meet ils financial obligations in relation lo debt interest payments and major unplanned capital expenditure. These risk5 will be managed by the Trust only investing in property for which there is a strong sale market, appropriately limiting any loan-to-value rab'os. and adequately insuring the Trusys propety. More broadly, the trustees, system of financial risk rnanagement involves rnaintsining th6 Tnjsl's reserves at a level appropriate for ils future plans.
THE BROOKHOUSE HILL TRUST TRUSTEES, REPORT (continued) OBJECTIVES AND ACTIVITIES The Trust's objects are.. lo advance the Christian religion for the benefit of the public., and lo advance Christian education and learning for the benefit of the public. In fulfilment of the Twsvs objects and in close adherence to evangelical Christian doctrine as set out in the Trust's D¢xlrinal Basis, the trustees plan and deliver the Trust's acts"vib8s. The aclivitses of the Tfust, as defined al the Tfust's formation and during the year ended 31 Maich 2025, were to raise funds from private individuals and charitable trusts and use the leverage of bank mortgages. for.. lil the pur¢h8se of capitsl assets to be used in the support of the obje¢ts- specifically, for example, making available housing to Christian ministers ongaged in the proclamation of the Christian faith., and lill the financial support of Christian ministy through lo1 ¢hurches and other Charitable organisations. These aGlivilie5 may be allefed from time lo b'me by a resolution agreed in wriling by all trustees, or resolution passed by 75% of trustees at a ger¢eral meeting. The Iruslees are fully aware of ltte quiremenls for the Trust, as a registered Charitable Incorporated Organisation, to be acting in the public benefit, and the Iruslee$ are of the view that all the Trusf s past, presenl and future planned aclivf£ies a in the public benefit as defined by the Charity Commission. ACHIEVEMENTS AND PERFORMANCE During the year ended 31 March 2025, the Twsl ha$ continued lo pursue ils objects prtmarily through the rental of residential properties lo the Parochial Church Council of Christ Church Fu0¢xl Sheffield I'Fulwood PCC, or 'lhe PCC'I to provide accommodation for some ol that church's ministers. The Trust has owned three houses freehold throughout the year.. 7 leld Road Sheffield S10 4GJ. 50 Brooklands Crescent Sheffield S10 4GG and 1 Roscoe View Sh8ffield S6 SPR. These houses are all held for the long term, financed primarity by a bank mortgage facility, with the additional support of an unsecured loan from a private individual. The Trust's primary source of debt finance is 8 30-year mrtgage with 'ngdoM Bank which ¢ommnced on 29 October 2021 with a capitsl balancè of £870,000. The terms of this mortgage provide for an initial elght year inlereslthonly period. and give the Trust significant flexibility in ils financing arrangements. n October 2022, the first tranche 1£23,5001 of an £80,000 unsecured loan was repaid, leaving an outstanding balance of £56,500. The second tranche lof three) is due in 2027. Further details regarding the mortgage financing and privats l¢)an are sel out in nots 6 to these financial ststemenls. 50 Brooklands Crescent. 7 lffield Road and 1 Roscoe View were all rented to the PCC throughout the year and up lo the dats of this report. FINANCIAL REVIEW The Trust's Statement of Financial Activities is sel out on page 4 and shows a net increase in fvnds of £7,566 in the year ended 31 March 202512024.. De¢rease of £7,562). Total funds al the end of the year were £378,133. 12024.. £370,567). Invmtmènts and morv Under the Trust deed, the Iruslees have the wer to invest funds that are not immediately required for th6 WOTking purposes of the Trust as they think fil. For the immediate future it is envisaged that cash resources will be limited lo those sufficient lo be Iheworking capitsl for daY-taY management of the Tru51'$ activities a5 defined above. however, over the next few years the Iruslees will be seeking to build up capital SelveS with a view to fvn¢Jing the se¢ond and third bullet repayments due on the un$ecufed loan, as well as with a view to the long-term repayment of the Kingdom Bank mortgage. In light of this. for the curient b'me the trustees have continued with the Same resetves policy as the prior year, to ensure the Trust is able lo meet all ils commrtments and obligations as they fall due. This policy sets a eash $è1ve5 threshold of the greater of half the prior yearfs totsl resources expended and £5,000, rounded up lo the nearest thousand pound$. In this case prior year refers to the year just past ie thg accounth'ng period to which this report refers lo. The £5,000 is the minimum Iloor. At 31 March 2025 this
THE BROOKHOUSE HILL TRUST TRUSTEES, REPORT (continued) threshold was £32,000 ie £62.24212 £31,121, rounded up to nearest thousand pound12024.. £21,000) and cash reserves fell short of this by £8,77412024'. cash reserves fell short of the threshold by £6,349). This erosion in excess was unsurprising and antscipaled, given bank interest rates and propety expenditure in the year. The Iruslees are keeping this undor close review. Specifically. from January 2025 the property rents were resel against market benchmarks Itargeling a 100k discount to market ratel. and durin9 2025 mortgage interest rates have started to reduce with reductions in the Bank of England base rate. Looking foard lo 2026 and beyond, the trustees are exploring po$$ible opportunities for the Trust to raise gift income. Overall, the Iruslee$ will continue lo monitor levels of cash and reserves against the Trust's future plans and commitments, including giving Consideration to whether the serveS policy continues to be appropriate. FUTURE PLANS The trustees intend that the Tnjst should continue with similar activitS in the comlng year and beyond. TRUSTEES, RESPONSIBILITIES STATEMENT The Iru51ees are responsible for preparing th¢ Trustees, Roport and the financial statements in aCrdanCe with 8ppIic8ble law and regulations. The Charities Act 2011 requi8 the trustees lo prepare financial statements for each financial year. The trustees have lo prepare the financial statements in accordance with the United Kingdom Generally Aecepled Accounting Practice Iuniled Kingdom Accounting Standards and applicable lawl. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic or Ireland. The trustees musl not approve the financial statements unles$ they are satisfied that they give a true and fair view of the slate of affairs oflhe charty and ofthe incoming resources and application of fesouree$ ol the charity forthal period. In preparing these financial statements. the trust•8s are required to.. select suitsble accounting policies and then apply them consistently". observe the methods and principles in the Charities SORP IFRS 1021., make judgements and accountsng e51imales that are reasonable and prudent". state whelhor applicable UK Accounting Standards have been followed, Subject to any material departures disclosed and explained in the financial statements., prepare the financial statsrnents on the going concem basis unless (( 1$ inappropnale lo presume that the charity wlll continue in operation. The trustees are reswnsible for keeping adequate records that ale sufficnt to show and explain the charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial slalements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust dee¢J. They are responsible for safeguarding the 85sets of the charity and hence for tsking reasonable steps for the prevention and detection ol fraud and other irregularities. This report was approved by the Iru5tee5 on 30 November 2025 and signed on their behalf by, Paul Houghton Trustee Joan• Cap•la Trustee
THE BROOKHOUSE HILL TRUST STATEMENT OF FINANCIAL ACTIVITIES Yoar ended 31 March 2025 Note Year ended 31 Mareh 2025 Year •nded 31 March 2024 INCOME AND EXPENDITURE Incomlng mourco6 Incoming resources from generated funds. Donations on whi¢h tax reclaimable Tax reclaimable on donations receNed nel of tax Other donations received in cash Other donations received in kind Rental inwme on propefty provided in support of charitable activities Bank inlertsl received 58,416 288 54,285 395 Total incoming resources 58,704 54.680 R•¥our¢•$ expended Charitsble activities expenses.. Expenses relating lo property provided in support of ¢harilable activities 51,138 62,242 Total Charitable a¢livitses expenses 51.138 62,242 Other operatir¢g and administration expenses Legal and professional fees Govemance costs Totsl operating and adminislratDn expenses 51,138 62,242 Totsl resources expended 51,138 62,242 NET ioirrGOINGV INCOMING RESOURCES FOR THE YEAR AND NET MOVEMENT IN FUNDS 17.562} Totsl funds brought forward at tho start of the yoar 370,567 378, 129 Total funds carrl•d forwa at th• •nd of th• year 378.133 370,567 Totsl r•cogniS galn• •nd1088•8 There were no r8¢ognlsed gains and lo8$, except as shown above. Contlnulng op¢ration• All amounts shown above late to ¢ontinuing ath'vilie5.
THE BROOKHOUSE HILL TRUST BALANCE SHEET 31 March 2025 Note 31 March 2025 31 March 2024 FIXED ASSETS Land and buildings- freehokl 1,3 1,282,700 1,282,700 1,282,700 1,282,700 CURRENT ASSETS Cash at bank Dobtor8 22,346 14,651 1,185 22,346 15,836 CREDITORS: amounts falllng due wlthln on8 y•ar (8101 NET CURRENT ASSETS 22.346 15,026 TOTAL ASSETS LESS CURRENT LIABILITIES 1,305,046 1,297,726 CREDITORS: amounts falllng due aftor more than one year 1926,9131 1927.159) NET ASSETS 378,133 370,567 FUNDS General Fund (unreslrictedl 378,133 370,567 These financial statements were approved by the Iruslees on 30 November 2025. Signed on behalf of the Iruslees Paul Houghton Trustee Joana ca1 Trustee
THE BROOKHOUSE HILL TRUST STATEMENT OF CASH FLOWS {In¢ludlng reconclliatlon of net movomont In funds lo not ¢•$h flow from op•ratlng ¥ctSvltl•¥) Ygar anded 31 March 2025 Y•ar ended 31 March 2025 Year ended 31 March 2024 Ca•h flows from oyrntlng actlvltl•$ Net movement in fund$ 7.566 17,5621 DeCrealIn¢rea8eI in trade and other debtors 1,185 11,1851 {Dec8$e)11nere8se in ac¢rual$ {8101 810 Net cash Inflowlloutftow) from oporntlng actlvltlo8 7.941 17,937} Cash flo from Inv•stlng actlvltk# Pur¢ha$¢ of propety Not cash Inflowlloufflowl from Investlng actlvltlos Cash flow8 from finan¢lng •¢tfvitl•s Mortgage Irepayments madey capitsl increased {2461 357 CAF Bank mrtgage redempts'on KÈngdom Bank mortgage dfawn down Unsecured loan repayment Not ¢a¥h Inflowllouffiow) from fFnanclng a¢tlvltS•8 12461 357 N•t In¢r•asolldecrn4•el In cash #nd cash oqulvalont8 7,69S 17,5801 C••h and cash •qulvalents at th• b•glnnlng of th• yo*r 14,651 22,231 Cash and c••h •qulvalonts at th• ond of the ygar 22.346 14.651
THE BROOKHOUSE HILL TRUST REPORT AND FINANCIAL STATEMENTS 20255 NOTES TO THE ACCOUNTS ACCOUNTING POLICIES B•811 of prnyrntlon These financial statements have been prepared in accordance with 'Accounling 8nd Reporting by Charities.. Statement of Recommend8d Practu applic8bl8 to charities pTrparing thair accounts in g¢cord8n¢e with the Financial R8porting Standard applicable in the UK and R8public of Ir818nd (FRS 102) fEffecliv8 l J8nu8ry 2015). Ilhe 'SORP'I, Thg Financiol Reporting Standard 8ppIic8ble in th& UK and RepublK of Ireland I'FRS 102,1 and the Charities Act 2011. They have been prepared under the historical cost convention with items COgnIsed at ¢osl or transaction value unle85 otherwis8 staled in the rebvanl notes to Ih8$e accounts. ere appropriate, the h&ading$ laid down in tha SORP have blen adapted lo meet tha particular cir¢um$tan¢es of the Trust. Tho Trust meet8 the d8finilion of a public benefit entity as dofined by FRS 102. A8sels and liabilitie8 Ire Initially reco3ni8ed al hi$lorfcal cost or transaction value unla$8 OthoNi8e staled in the relevant accounting policy. Golng con¢•m The truste88 hava a rea8onablo •xp•ctslion that tho charlty h46 odoqu8t• re80ur¢e5 to contlnue In op6r8lional exisience lor the foreseeable future, which they consider to be a peri¢Xt of 12 month8 from the dale of sionino of the$0 financial slalemonts. For this reason they continue lo adopt the going concern basi8 in preparing the financial stalemenl6. Fund •¢countlng The General Fund 1$ an unrestricted fund which is available for use 81 the discretion of the Iruslees in furtherance of the general objectives of the Trust, and which has not been dosignalad ft)r other purposes. In¢omlng r••our¢ Incomè primarity represents the receipt of rent on rosidenlial properties provldad for the use of Christian ministers in accord8nce with the Twst'$ acts'vilie$, and gift income. Income is récognised once the Trust ha8 entttlemenl lo the income, it is probablo that the income will be received. and the amount of income weivable can bo measured reliably. Gift income is credited lo incoming resources upon weipl. In accordance with thè accruals basis of accounts ?paratiOn, tax coVer3b18 on gifts is credited lo in¢oming resour¢e¥ upon receipt of the gift, recoverable amounts being held within debtors until received trom HI$ Majesty's Revenuo & Customs. The Trust did not receive any gift Income during this accounting peri(>a. R••oU •xp•nd•d Expenditure on charitable acllvlties primarlly comprises the expenses relating to property provided in support of the Trusts charitable acb'vities, includlng mortgage interest, repairs, maintenance and insuiance. Other operating and adminislralion 8xpen8es are those incurred in the running of the Trust, including lè981 and governance expenses. Expenditure is iecognised once the Trust has alggal or constructwe obligation lo Iran8fer economic benefit to a third paty, It is probable that a transfer of eeonomic benefit will be required in settlement. and the amount of the oblig81ion can be mea8ured reliably. Expenditure 18 inGluded in the statement of financio18ctiviltes on the accruals basls and includes Irwoverable VAT. Int•r••t r•c•lv•bl• Interest on fvnds held on deposit is includéd when receivab and the amount can be measured reliably by the Trust. This 18 normalty upon notification of the interest paid or payable by the bank.
THE BROOKHOUSE HILL TRUST REPORT AND FINANCIAL STATEMENTS 20255 NOTES TO THE ACCOUNTS Tanglbl• flx•d 4•8et• and deprecl•tlon The Trust holds residential freehold propety to be used in the support of its obje¢16. Iri p8rticular to provi¢Je housing for Christian ministers, and any nI paia for these properties is agreed on a case by case and not an arm's length basis. Consequently, these propertt'es fail the definibon ol investment properties, instead bèing held al histoncal cost less provision for depieciation within land and buildings within fixed assets. Expenditure which enhances the usefulness of a property and in¢reases the propaty value by at least the amount of the expendiluro is capilalised within tsngible fixed asset additions. The Trust's polw is that depreciation would be provided over 50 years in ortjef to write costs of freehold tangible fixed 888el$ down lo their expected re8itJu81 v81ue$ over their expe¢led uselul lives.. However, in the view of the trustees and based on local market infomalion, the residual value ol each propety in the cUrn1 propety Portfolio 18 greater than its hislori¢al cost carying value. Consequently, no dopr8cialion16 currently being ch8rgod on the ro8id8nlial prop8Tty Portfolio. CA•h •t b•nk Cash at bank includes cash and short lemi highly liquld Investments wrth a Short maturty of three months or less frorn the dale of acquisition or opening of the dep0811 or similar account. Llabllltl•• •nd provlilon• Li8bililies are recognised when ther6 1$ an obligation 81 the balance Sheet dale as a result of a past event, 1118 probable that a transfer of economi¢ benefit will be required in settlemgnt, and the amount of the $ettlem$nl ¢an be estimated reliably. Liabilities aro recogni6ed at the amount that the Tru81 an1PaleS il will pay lo 8ottle the obligation. EMPLOYEES The Trust had no employee8 during the currènt and prtor financlal years.
THE BROOKHOUSE HILL TRUST REPORT AND FINANCIAL STATEMENTS 20255 NOTES TO THE ACCOUNTS TANGIBLE FIXED ASSET8 Land & bulldlng•- fr••hold 31 March 31 M•rch 2025 2024 Total- Cost and net book value 1,282,700 1.282,700 On 31 December 2013. the Trust received a gift ol the residential propety, 50 8rooklands Crescent Sheffield S10 4GG, substsquently valued by Mark Jenkinson & Son $urveyors al a value of£260,000, which was used as the base cost. During the year ended 31 March 2018, £105,700 wa8 spent on an extension to 50 Brooklands Crescent, significantly modernising and enhancing the propety's U50fvln•s$. Thg tru$to¢$ aro ol the view that tho opan market value of tho propety exceeds its total carrying value1£365.7001. On 4 February 2015 the TTu$t purch888d th• re8idenlial proty 7 WhrtAold Roa¢J Sheffield SIO 4GJ al an open market value 01 £432.000 The trustee8 are of the viow that the open market value of tho property ex¢eod8 its ¢arrying v8lue1£432.0001. On 29 October 2021 the Trust purchased the re8id8nlial propety 1 Roscoe View Sheffiel¢J S6 SPR al an op8n market value of £485.000. Tho trustses are of tho view that th8 open market value of the propety exceeds Ils carying value1£485,0001. DEBTORS 31 March 2025 31 M•rch 2024 Accrued Income 1,185 Accrued income in the prior year reprèsented rental payments overdue on the proportles, which wo received shortly after the start of the yaar. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31 March 2025 31 March 2024 Bank loans l$ee note 61 Loans from private individuals (sea nots 61 Accruals and deferd income 810 810 Accrua15 represents property relatsd costs Incurred prlor to (but pald subsequent tol the year end.
THE BROOKHOUSE HILL TRUST REPORT AND FINANCIAL STATEMENTS 20255 NOTES TO THE ACCOUNTS CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 31 March 2025 31 March 2024 Loans from prwate individuals Bank loans 56,500 870,413 56,500 870,659 926,913 927, 159 The Kingdom Bank mortgage is for a period of 30 years from 29 October 2021. but with an interest- On period of eight years lo giv8 the Trust maximum flexibility in its financing arrangements. Interest is charged al a managed rate, which at the dale of this report 1$ 5.4QA. The cap(t81 outstanding at the year end was £870,41312024.. £870,659). The Tru$l signed an agreement with a third party private benefactor on 15 March 2017 to borr¢)W £80,000 lo assist in funding the caprtal works lo be carried out on 50 Brooklands Crescent. The loan is unsecured and carrie5 no intsrest. The loan was due to be repaid in three tranche$' £23,500 on 11 September 2022, £26,500 on 11 September 2027 and £30,000 on 11 September 2032. On 25 O¢lober 2022, the first Iran¢he1£23,5001 was repaid. leaving an outstsnding balance of £56,500. RELATED PARTY TRANSACTIONS Dunng the year the Trust ceIVed rental in¢ome for 7 Whiffield Road Sheffield S10 7GJ, 50 Brooklands Crescent Sheffield SIO 4GG and 1 Roscoe View Sheffield S6 SPR from the Parochial Church Council of Christ Church Futwood Sheffield l°Fulwood PCC }. Paul Houghton la Iruslee during the yearl, was a member of Fulwood PCC during the year. Al three properties were provided for the use of Christian ministers employed by FU¥00d PCC and the monthly rental amounts were ¢onsidered by both parties to be al a discount lo market rent. The totsl rental amount received from Fu00 PCC in the year wa5 £58,41612024: £54.2851. As noted above, the Trust has a 30-year mortgage wilh Kingdom Bank, who are $pe¢ialis15 in mortgages to chuhe$ and related church trusts. During the year, Kingdom Bank Insuran Brokers also continued to be the Tnjst's broker for ils propety insurance services. Paul Houghton, a trustee, is a director of Kingdom Bank Limited The deGi$ion to use Kingdom Bank was taken by the independent trustees. The rrK)rtgage and insurance brokerage are being prov¢ded by Kingdom Bank on the Bank's standard commeraal temis. The TrL4St feimburses the Iruslees for any expenditure incurred on ils behalf. Howev•r, no payments were made to trustees in the year. 10
THE BROQKHIXISE HU TRUST INDEPENDENT exwiERE REPORT for the y•ar •nd 31 MJr¢h 20255 I nport ontr of Brookh)uw IIM Th¥t (tt'Qwity'l forth& yw 31 fvAh 2025 comparv• y•w 31 2024) 8e on pw•y 4 to 10 above. 1oEtr)n 154 of the Ch#los Act 2011. has so thot I stat• to Ih Otr ppOS. To trf6•1 eX1wp1tt9d by l•. I do fYJI wt mPOrIlty l¢ ¥r forn•J. ¢orBKlw that JJSt Is rffjl lor IlwB yow ¥ly)n 144(2} ol Chwili•& A¢¢ 2011 1tr follow prOc•jw ld do¥m Dtbr glm by Ih Conml•thn luxlw S1) 145(5Xb) of Its Ch•lt18# Act 2011., My oxwnlr•th>n cthvAI In TAth D¥xk>M 9P48n by ts clftY Commi881orL s•d(ir4 expWw>n8 Irn you as tntst•os corw¥r¥J wh mthrn. Thè proc•dLrn t Prnvido th& b6 in aMIrt. ophw)ni a# t• lo keep wJlll8 In TAIth $tn 1x1 of Act ¥J11', •KI h#v8 not m8t: or ) to my b• In ordwto a pnJpWw¥J1WNlw¥l of flthl SIO 3QO r 2025 11