Charity Registration No: 1155382 Preston Down Trust Report of the trustees and unaudited financial statements Year ended 5 April 2025 Preston Down Trust Contents Pages Reference and administrative details Report of the trustees Independent examinerfs report Statement of financial activities Balance sheet Schedule of fixed assets Notes to the financial statements 10-12 Preston Down Trust Report of the trustees for the year ended 5 April 2025 Charity name Preston Down Trust Registered charity number 1155382 Trustees Michael Besley Laurence Buckley (Chairl Michael Scott John Wallis (Retired 2 September 20241 Stanley Wallis Treasurer Andrew Buckley Assistant Treasurer Daniel Besley Principal address c/0 10 Aspen Drive Newton Abbot Devon TQ12 4TN Independent examiner Keith F Pavey Broadoak Accounting Services 6 The Oaks Wembdon Rise Bridgwater Somerset TA6 7QL Bankers Lloyds Bank 2 Palace Avenue Paignton TQ3 3ER Solicitors Tozers Broadwalk House Southerhay West Exeter EXI IUA Preston Down Trust Report of the trustees for the year ended 5 April 2025 The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out on pages 10 and 11 and comply with the Trust Deed and applicable law. Structure, governance and management Governlng document The Charity is an unincorporated trust constituted by a Deed of Trust dated 30 September 1978, most recently amended by Deed of Variation dated 10 January 2014. The Trust was registered with the Charity Commission for England and Wales on 17 January 2014 under Charity Registration Number: 1155382 Recruitment and appointment of new trustees The names of the Trustees who served during the year and since the year end are set out on page l. None of the Trustees, nor any person connected with them, received any remuneration or expenses from the Charity in the year ended 5 April 202512024.. £nill. The Trust operates 3 Gospel ha115 and Trustees are chosen from among the regular congregation of the halls New Trustees are nominated by the existing Trustees or by the congregation and must be appointed by unanimous resolution of the congregation. They are selected according to their skills and experience and are expected to use both in furthering the objects of the Charity. Checks are made to ensure the Trustees, eligibility to act and incoming Trustees are made aware of their responsibilities by the existing Trustees, who ensure that new Trustees read the Trust Deed and relevant Charity Commission guidance. Wider network The Trustees maintain informal links with similar charities with a view to pooling experience considered useful in pursuing the objects of the Charity. Risk management The Trustees have identified and reviewed the major risks to which the Charity is exposed and confirm that they have established systems or procedures to manage and mitigate those risks. Objertives and artivities Objectives and aims The charitable purposes of the Charity are the advancement of the Christian religion for the public benefit, including by the carrying on of the service of God in accordance with the Old and New Testament5 of the Holy Bible as followed by those Christians forming part of the world-wide fellowship known as the Plymouth Brethren Christian Church (the "Brethren"} and any other charitable purposes connected with Brethren. The core doctrine of the Brethren and proper practices in furtherance of certain aspects of doctrine are summarised in two schedules to the Trust Deed. Public benefit The Trustees confirm that they have complied with their duty under Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance to charities on public benefit. Main activltles and achievements Preston Down Trust Report of the trustees for the year ended 5 April 2025 The Trust provides and maintains 3 Gospel halls where religious meetings are held by the local Brethren community. Details of the origins, teachings and way of life of the Brethren can be found on the website - .riouthb'"eti"Ireri.'k'.k 15113nckiL',. Lli.Lll-: and in the schedules to the Trust Deed. The Trust's main achievements this year have been to maintain its income at a sufficient level to meet its obligations and encouraging members of the Congregation to SUPPOrt the Rapid Relief Team charity (Registered Charity No:11615861 in providing food boxes for families suffering extreme financial hardship Plans for Future Periods Despite the increased cost of energy, the trustees feel that these increased costs are not significantly impacting on the ability of the charity to continue as a going concern Meetings Meetings held at the Gospel halls include the Lord's Supper (Communion}, Gospel preachings, Bible readings and Bible addresses. There is a structured weekly schedule of meetings and, depending on the particular meeting, between 30 and 300 people normally attend these occasions. The meetings are attended by the regular congregation and most are open to other properly disposed visitors. The notice board outside the Hall welcomes visitors and displays the times of Gospel preachings, along with a telephone number for those seeking further information or help. Gospel tracts, which are distributed by street preachers, also display this information. Bibles and an extensive range of other Christian reading material are on display at the halls and visitors are free to help themselves. Spreading the Gospel message and the life of a Christian The Gospel halls are a base from which the regular congregation and others who attend the meetings are encouraged to spread the Christian Gospel, in word and deed. Members of the congregation participate in a programme of street preaching and Gospel tracts are provided free of charge by the Charity to such preachers to be handed out to interested members of the public. In addition to street preaching, members of the congregation also keep in touch with prison chaplains to provide gospel tracts and bibles as required. The trust operates a programme of providing regular packs of food and gospel literature to homeless and needy persons through local charities or hostels for the homeless. See Appendix for Outreach Report Preston Down Trust Report of the trustees for the year ended 5 April 2025 In carrying out this work, the congregation considers itself to be living out its faith in practice, as particularly exemplified in the following extract from the schedule to the Trust Deed on living a Christian life.. We seek and are encouraged to live exemplary lives in all our relationships with others in the wider community lincluding former Brethren}, in accordance with the teachings of Holy Scripture (l Tim 2.2). We regularly go out from our homes to preach on the streets, to distribute Christian literature and engage with the wider community {including former Brethren) in order to present eternal salvation, available to all men by faith in Jesus Christ. {2 Tim 4'.21. We seek as members of the public to lead Christian lives as husbands and wives, parents, children, employers, employees and neighbours. {Col 3.22-25, Col 4:1}. The preservation and protection of the family unit is fundamental and children are prized as a blessing from God. (Psalm 127:3-5}. The elderly are valued members of the community, for whom both their family and the wider community are expected to care. Holy Scripture commands us to be good neighbours to others, and deal with all other people {including former Brethren} openly, honestly and fairly and consistent with these principles, we should give our time, talents and money to assist those in need in the wider community, in so far as reasonable given our abilities and our available resources. (Matt 7-12, Matt 22.39, Eph 4-281. Funding Funding is sought through gifts from the congregation and Gift Aid is claimed on eligible donations. Funding is sometimes received from other charitable trusts with complementary objectives. Financial review Financial position In the year ended 5 April 2025, the Trust had a modest deficit of incoming resources over resources expended. However the Trust still has free reserves that are, in their opinion, adequate. Total voluntary income received this year was £50517 compared to £27,892 in the previous year. All fund5 held were unrestricted funds. Reserves policy Preston Down Trust Report of the trustees for the year ended 5 April 2025 The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs, based on its size and the level of its financial commitments. The Trust has no employees and its regular outgoings are minimal. Accordingly, the Trustees have decided to adopt a policy of maintaining a minimum level of reserves equating to 6 months operating costs. The congregation is kept regularly informed as to particular needs for funds, and other relevant matters and the Trustees aim to ensure that the Charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure, by raising a funds appeal to the congregation. Free reserves at the ear end were £70 352. Free reserves revious ear £64 120 Statement of Trustees, responsibilities The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations and the provisions of the Trust Deed require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing those financial statements, the Trustees are required to select suitable accounting policies a nd then apply them con515tently; observe the method5 and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charitie5 Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. All transactions have been reviewed and approved by at least two trustees On behalf of the Board: Trustee Date: 30 October 2025 Preston Down Trust Independent examinerfs report to the trustee5 For the year ended 5 April 2025 I report to the trustees on my examination of the accounts of Preston Down Trust for the year ended 05 April 2025. RESPEcfivE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The ch2rity'S trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2Qll I'the Act'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directior75 given by the Charity Commission under section 14515llbl of the Art. BASIS OF THE INDEPENOENT EXAMINER'S REPORT My examination was carried out in accordance with the 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 include5 consideration of any unusual items or disclosures in the accounts, and seeking of 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 statements below. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.- l. Accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or 2. The accounts do not accord with those records,. or The accounts do not comply wtth the applicable requirements concerning the form and content of account5 set out in the Charities (Account5 and Report51 Regulations 2008 other than any requirement that the account5 give a 'true and faire view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper uniyerstanding of the accounts to be reached. Isigned, Datel l?Th QLreAEL 2o)- PRESTON DOWN TRUST- Charit No. 1155382 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5" APRIL 2025 Analysed by Natural Categories All Fu nds are U nrestricted This Year Last Year INCOMING RESOURCES Note 2.1 DONATIONS Contributions from the Congregation Gift Aid Donations Income Tax refunds Payroll Giving Other Donation5 Legacy 24,000 12,925 3,231 4,531 830 5,(K)O 19,250 3,220 805 4,137 480 INVESTMENTS Bank Interest 639 548 TOTAL INCOMING RESOURCES RESOURCES EXPENDED (Note 2.2.) Meeting Room Running Expenses (Note 7) Community Outreach Trustee Training COVID Test Kits 56,786 i(N) 38,917 773 6(X) 1,774 268 GOVERNANCE COSTS Independent Examiner Professional Fees Legal Fees 595 2,074 35 565 1,305 35 TOTAL RESOURCES EXPENDED 59,858 43,969 NET EXPENDITURE 18,702) 115,529) FUNDS BROUGHT FORWARD 1,713,862 1,729,391 FUNDS CARRIED FORWARD Page 7 PRESTON DOWN TRUST- Charit No. 1155382 BALANCE SHEET AS AT 5" APRIL 2025 THIS YEAR LAST YEAR TANGIBLE FIXED ASSETS Pa 1634 808 1649 742 CURRENT ASSETS Debtors Prepayments Cash at Bank 380 3,151 67,915 4,022 61,005 TOTAL CURRENT ASSETS CURRENT LIABILITIES FALLING DUE WITHIN ONE YEAR Accruals 1,094 907 NET CURRENT ASSETS 70,352 64,120 NET ASSETS FUNDS OF THE CHARITY UNRESTRICTED Note 3 General Fund The unaudited Financial Statements on Pages 7 to 12 were approved by the Trustees and authorised for issue on: and signed on their behalf by: Trustee Page 8 i a PRESTON DOWN TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5" APRIL 2025 NOTE l. Basis of Preparation 1.1 These accounts have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts have been prepared in accordance with -_ The second edition of the Statement of Recommended Practice and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 issued in October 2019. And with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) And UK generally accepted practice. The Charity constitutes a public benefit entity as defined by FRS 102 1.2 Going concern The Trustees are of the opinion that the Trust remains a going concern for at least the next 12 months from the date of the signing of the accounts based on a review of the management accounts and forecasts. 1.3 Change of Accounting Policy There were no changes in accounting policy 1.4 Changes to Accounting Estimates There were no changes to accounting estimates 1.5 Material Prior Year Errors There were no material prior year errors. NOTE 2 Accounting Policies 2.1 Income Recognition of income. These are included in the Statement of Financial Activities when: . The Charity becomes entitled to the resources It is more likely than not that the Trustees will receive the resources and the monetary value can be measured with sufficient reliability Offsetting- There has been no offsetting of assets and liabilities or income and expenses unless required or permitted by the FRS 102 SORP or FRS 102. Donations.. Donations are only included in the SOFA when the general income recognition criteria are met {5.10 to 5.12 FRS 102 SORPI Page 10 PRESTON DOWN TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5- APRIL 2025- Continued Legacies.. Legacies are included in the SOFA when receipt is probable that is when there has been a grant of probate, the executors have established that there are sufficient assets of the estate and any conditions attached to the legacy are either within the control of the Charity or have been met. Tax reclaims on Donations and Gifts: Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift a nd is treated as an addition to the same fund as the initial donation unless the donor or the terms of appeal have specified otherwise. Volunteer Help: The value of any volunteer help received is not included in the accounts but is described in the Trustees Annual Report. Income from Interest: This is included in the accounts when receipt is probable and the amount can be reliably measured. 2.2 Expenditure and Liabilities: Liabilitie5 are recognised when it is more likely than not that there is a legal or constructive obligation committing the Charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. 2.3 Assets: Tangible Fixed Assets for use by the Charity are capitalised if they can be used for more than one year and cost at least £SOO. They are valued at cost except for Freehold Property. These are valued every five years and valuation substituted for cost where this is materially different. In accordance with this policy the Trustees undertook a valuation in March 2021 and concluded that the fair values of the three freehold properties (See Page 9) were not materially different from the cost amounts shown on the Balance Sheet. There had been no impairment nor material increase in value. This did not include any possible development values of the sites. The valuation was conducted a former Trustee (Mr J D Wallis) who is a retired Estate Agent. Depreciation:_ Freehold Land Not depreciated Freehold Buildings Not depreciated Plant and Machinery 10 years on a straight line basis Fixtures Fittings and Equipment 10 years on a straight line basis NOTE 3. Funds of the Charity: All the funds of the Charity this year (and last year) were unrestricted. NOTE 4. Trustee Remuneration and Expense5: No Trustee received any remuneration or other benefits from an employment with the Charity and no Trustee was reimbursed for any expense5 (Last year Nil} Page 11 PRESTON DOWN TRUST TH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2025- Continued NOTE 5. Transactions with Related Parties: There were no payments made to Related Parties in the year {Last year Nil) Aggregate donations received from Related Parties amounted to £19,031 (Last year £7,862) NOTE 6. Movement of Funds: Full details of Fund Movements are shown on Page 7. NOTE 7. Analysis of Meeting Room Running Expenses THIS YEAR LAST YEAR Gas and Electricity Water Telephone IT Expenses Repairs and maintenance-_ Air Conditioning Electrical 9,690 2,438 1,675 605 10,006 {258) 1,277 1,662 2,226 7,418 992 General Repairs and Renewals 3,842 1,501 13,486 2,754 18,099 3,774 2,443 2,493 2,377 17,937 Insurance Depreciation Landscaping Security Equipment Hire Health and Safety 3,169 254 1,822 TOTAL Page 12 Preston Down Trust Public Benefit & Outreach 2025 One of the Trust's principal activities that furthers its objects is providing a facility for the coordination of "outreach" work into the wider community. The Trust has maintained its outreach activities. This report includes some of the things we have been engaged in. Members of the Congregation, acting under the directions of the trustees and with their full and active encouragement, have continued with the "outreach" work which they have carried out for many years. Gospel tracts and literature available from the Gospel Hall The Trust maintains a display of gospel tracts, literature and Bibles in the foyer of its principal Gospel Hall and this fact is advertised on the Sign Board at the street entrance Street preachings and tract distribution We have maintained our longstanding committal to the open air preachings in the town centre of Newton Abbot. We have preaching every day Monday to Friday with at least two preachers on each occasion preaching and handing out gospel tracts. Over 20 Preachers from the community regularly preach. Food Packs We have resumed the provision of food packs to a local charity for onward5 distribution, this has been donated to the Bovey food fridge and the local social supermarket Contact and support We have continued to SUPPOrt the local parish council in Ilsington on a regular basis. We are on their list as support snow warden5 50 that we can help them in times of snow by keeping areas open especially for the old and vulnerable. We have helped them fill their local salt bins on a regular ba515 and checked all grit bins in the Parish before winter. Two members of the community have been trained by Teignbridge District Council emergency response team, in the management of a care centre in the case of emergency. We are thankful to report this has not been needed in the local community, but when this does happen, we are ready to help support them. July 2024 Assisted Bovey Tracey Town Council in weeding paths in an extended area before Bovey In Bloom Event which helped them win an award. Worked with the Parish council to Litter pick an area in the Parish Worked with the Town Council to come up with ideas to help more deprived areas. Some members of our Congregation assisted the Rapid Relief Team charity RRTI in the following work 22 February 2025 Supported Dartmoor Search and Rescue on a major training exercise on Dartmoor 15 March 2025 Supported Rowcroft H05pice for a sponsored walk 19 June and 4 July 2025 Supported Rowcroft Hospice at events in their grounds Further plans for 202412025 We are open to further suggestions from the congregation which we will review and then put forward for approval at one of our regular trustee meetings. 1111 IL•, I.