Charlty registration number 1159241 SWAFFHAM GOSPEL HALL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
SWAFFHAM GOSPEL HALL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M Gardner Mr S Cowley Mr R Devine Mr D Fryer Mr Mark Crawshaw (Chair) Chair Mr M Crawshaw Charity number 1159241 Principal address Gospel Hall Horns Corner Walton Road Ashill Norfolk England IP25 7AQ Independent examiner Solos Chrislophi FCCA Aston Shaw Limiled Chartered Certified Accountants The Union Building, 51-59 Rose Lane No[ch Norfolk England NR11BY Bankers Natwest Bank Peterborough Branch Cathedral Square Peterborough PE1 1XH Solicitors Leathes Prior 74 The Close Nonmich Norfolk NR14DR
SWAFFHAM GOSPEL HALL TRUST CONTENTS Page Trustees report Independent examiner's report stalemenl of financial aclivilies Balance sheet Notes to the financial slalemenls 8-17
SWAFFHAM GOSPEL HALL TRUST TRUSTEES REPORT FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their annual report and financial statements for the year ended 5 April 2024. The financial slatemenls have been prepared in accordance with the accounting policies set out in note 1 of the notes lo the financial statements and comply wilh Ihe Trust Deed and applicate law. Objectives and activities Objectives and alms The charitable purposes of the Charily are the advancement of the Christian religion for Ihe public benefit, including by the carrying on of the service of God in accordance with Ihe Old and New Testaments of the Holy Bible as followed by those Christians forming paFt of the world-wide fellowship known as Ihe Plymoulh Brethren Christian Church (the "Brelhren.) and any other charitable purposes connected with Brethren. The core doctrine of the Brelhren and proper practices in furtherance of certain aspects of doctrine are summarised in two schedules lo the Trust Deed. Public beneflt The Trustees confirm that they have complied with Iheir duty under section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance lo charilies on public benefit. Maln activities and achievements The Trust provides and maintains 3 Gospel Halls where religious meetings are held by the local Brethren community. Details of Ihe origins, teachings and way of life of the Brethren can be found on the website mouthbrethrenchrislianchurch.or and in the schedules lo the Trust Deed. The Trust's main achievemenl this year has been to continuing io open the halls lo Ihe congregation and visitors and encouraging good works by ihem which benefit Ihe wider community. The Irustees have aSso operated an Emergency Needs fund for the duration of the coronavirus pandemic and any resultanl economic downturn. This is providing limiled financial assistance by the way of grocery vouchers lo households, who have experienced a recent and significant decrease in income due lo the pandemic, such that il is likely lo impact on Ihe health andlor welfare of members of the household. The trust has appointed a Local Welfare Panel lo manage the applicalion process and to administer the vouchers to qualifying applicants. Plans for future periods Despite the increased cost of energy, the Iruslees feel that Ihese increased costs are nol significantly impacting on the abiliiy of the charity lo continue as a going concern. Meetlngs Meetings held al the Gospel halls would normally include the Lord's Supper (Communion), Gospel preachings, Bible readings and Bible addresses. There is a structured weekly schedule of meelings and, depending on the particular meeting, between 40 and 600 people normally attend these occasions. The meetings are attended by the regular congregation and most are open lo other properly disposed visilors. 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 dislributed by slreet preachers, also display this information. Bibles and an extensive range of other Christian reading malerial are on display at Ihe larger hall and visitors are free to help themselves.
SWAFFHAM GOSPEL HALL TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Spreadlng the Gospel message and the life of a Chrlstlan The Gospel halls a base from which the regular congregation and others who attend Ihe 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 lo such preachers lo be handed out to inleresled members of the public. In addition lo street preaching, members of the congregation.. Donated a projeclor & sland lo Ihe community centre in Ashill Donated Bibles to Schools in Ihe local area Made a donation lo the Mid Norfolk Foodbank In carrying out this work, the congregation considers itself lo be living out its failh in practice, as particularly exemplified in the following exlract from the schedule lo the Trusl Deed on living a Christian life.. We seek and are encouraged to live exemplary lives in all our relationships wilh others in the wider communily (including former Brelhren), in accordan with the leachings of Holy Scripture (l Tim 2.2). We regularly go out from our homes lo preach on the slreels, to distribute Christian literatlfre and engage with the wider communiiy (including former Brethren) in order to present elernal salvation, available lo all men by faith in Jesus Christ.12 Tim 4'.2). We seek as members of the public lo lead Christian lives as husbands and wives, parents, children. employers, employees and neighbours. (Col 3'.22-25, Col 4.11. The preseNation and protection of the family unit is fundamenlal 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 lo care. Holy Scripture commands us lo be good neighbours to others, and deal wilh all other people {including former Brethren) openly, honeslly and fairly and consistenl with these principles, we should give OLtr lime, talenls and money io assist those in need in the wider community, in so far as reasonable given our abilities and our available resources. (Matt 7'.12, Mall 22=39, Eph 4.'28). Funding Funding is sought through gifts from the congregation and Gift Aid is claimed on eligible donations. Funding is sometimes reIved from other charitable Irusls with complementary objeclives. Achievements and performance Flnancial review FinanGial Position In the year ended 5 April 2024 the Trusl had a deficil of incoming resources over resources expended of (£417,268). The cause of this deficit is due lo the transfer of a Gospel Hall. Total voluntary income received this year was £199,827 compared to £83,364 in the previous year. One of Ihe Gospel halls has been transferred to Dereham Gospel Hall Trust, a Charity which it maintains particular links with and shares members of its congregation. Funds are being saved for future provisions of Gospel halls.
SWAFFHAM GOSPEL HALL TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Reserves policy The Trustees have considered Ihe level of reserves they wish lo relain, appropriate to the charity's needs, based on its size and the level of ils financial commilmenls. The Trust has no employees and ils regular oulgoings are minimal. Accordingly, Ihe Trustees have decided lo adopt a policy of putting aside funds for futlfre Gospel Halls and a designaled fund of £450 for congregation support. The congregation is kept regularly informed as lo particular needs for funds, and other relevant matters and the Trustees aim to ensure Ihal the Charity will be able lo continue lo fulfil its charitable objectives even if there is a lemporary shortfall in income or unexpected expenditure, by raising a funds appeal to the congregalion. Funds are being saved for future provisions of Gospel Halls. Free reserves at the year end were -£42,184 (deficit) (2023- _£108,623) Structure, govemance and management Governing document The Charity is an unincorporated trust consliluled by a Deed of Trust dated Slh July 2004, most recently amended by Deed of Varialion dated 151h Augusl 2014. The Irusl was registered with the Charity Commission for England and Wales on 17th November 2014 under Charity Regislralion Number: 1159241. Recruitment and appointment of new trustees The Iruslees who served during the year and up to the date of signature of the financial slatements were.. Mr Michael Gardner Mr Mark Crawshaw (Chair) Mr Simon Cowley Mr Ronald Devine Mr Dean Fryer None of the Trustees, nor any person connected wilh them, received any remuneration or expenses from Ihe Charity in the year ended 5th April 2024 {2023'. £NIL). The Trusl operales 3 Gospel halls and Trustees are chosen from among Ihe regular congregalion of the halls. New Trustees are nominated by ihe existing Truslees or by the congregation and must be appoinled by unanimous resolution of Ihe congregalion. They are selected according to their skills and experience and are expected lo use both in furlhering the objects of the Charity. Checks are made lo ensure the Trustees, eligibility lo act and incoming Trustees are made aware of their responsibilities by Ihe existing Trustees, who ensure that new Truslees read the Trust Deed and relevant Charity Commission guidance. Organlsational Structure All major decisions, including those of a financial nature are made by the Board of Trustees al their regular meetings, which are held al monthly intervals. More minor decisions may be made by individual Trustees in their particular fields of responsibility. Michael Gardner is Ihe Treasurer for the Trust. Wider network The Truslees mainlain informal links with similar charilies with a view lo pooling experience considered useful in pursuing the objects of the Charity. The Charity also maintains particular links with Dereham Gospel hall Trust, with which il shares members of its congregation.
SWAFFHAM GOSPEL HALL TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Statement of Trustees responsibilities The Iruslees are responsible for preparing the Trustees Report and the financial slatemenls in accordance with applicable law and Uniled Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of Ihe charily and of the incoming resources and applicalion of resources of the charity for that year. In preparing these financial slalemenls, the trustees are required to.. select suitable accounling policies and then apply them consistently., observe the methods and principles in the Charities SORP- make judgements and eslimates Ih81 are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material deparlures disclosed and explained in the financial slalements., and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in operation. The truslees are responsible for keeping sufficienl accounting record5 that disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure Ihal the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Ihe provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and olher irregularities. All transactions have been reviewed and approved by truslees. Rlsk Management The Trustees have identified and reviewed the major risks lo which Ihe Charity is exposed and confirm thal they have established systems or procedures lo manage and miligale those risks. Appr ved by order of the board of Trustees and signed on ils behalf by.. Mr M Gardner Trustee Date:....
SWAFFHAM GOSPEL HALL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SWAFFHAM GOSPEL HALL TRUST I report to the trustees on my examination of the financial statements of Swafft)am Gospel Hall Trust (the charity) for the year ended 5 April 2024. Responsibilitles and basis of report As the trustees of the charity you are responsible for the preparation of the financial slalemenls in accordance with the requirements of the Charities Act 2011 {the 2011 Act}. I report in resp6cI of my examination of th8 charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examinalion I have followed all the applicable Directions given by the Charity Commission under section 14515}{b) of the 2011 Act. Independent examiner's statement Your allenlion is drawn lo the fact that the charity has prepared financial slalemenls in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republi¢ of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities: Slalemenl of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements to Pfovide a Irue and fair view in accordance with Generally Accepted Accounting Pra¢li¢e effective for reporting periods begSnning on or after 1 January 2015. I have comp18téd my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no conc8rns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial stalemenls lo be reached. Sotos Christophi FCCA Aston Shaw Limited Chartered Certified Accountants The Union Building, 51-59 Rose Lane Notwich Norfolk NR1 18Y England Dated.. aqliol40?9
SWAFFHAM GOSPEL HALL TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Inveslments Other income 199,826 199,826 79,823 79,823 3,541 3,541 Total income 199,827 199,827 83,364 83,364 Expenditure on: Charitable aclivilies Other expenditure 103,332 510,323 3,440 106,772 510,323 75,426 2.867 78,293 10 Total expendSture 613,655 3,440 617,095 75,426 2,867 78,293 Net incomellexpenditurel and movement in funds (413,828) (3,440) (417,268) 7,938 <2,867) 5,071 Reconclliation of funds: Fund balances al 6 April 2023 1,471.843 169,133 1,640,976 1,463,905 172,000 1,635,905 Fund balances at 5 April 2024 1,058,015 165,693 1,223,708 1,471,843 169,133 1,640,976 The slatemenl of financial activities includes all gain5 and losses recognised in the year. All income and expenditure derive from continuing aclivilies.
SWAFFHAM GOSPEL HALL TRUST BALANCE SHEET AS AT5 APRIL 2024 2024 2023 Notes Fixed assets Tangible assets 12 1,188,199 1,731,916 Current assets Debtors Cash at bank and in hand 13 1,956 156,023 1,178 99,336 157,979 100,514 Creditors: amounts falling due wlthin one year 14 (34,470) (40,004) Nel currenl assets 123,509 60,510 Total assets less current liabllities 1,311,708 1,792,426 Creditors: amounts falling due after more than one year 15 188,000) (151,450) Net assets 1,223,708 1,640,976 Income funds Reslricled funds Unreslricled funds Designated funds General unrestricted funds 16 165,693 169,133 17 450 1,057,565 1,875 1,469,968 1,058,015 1,471,843 1,223,708 1,640,976 The financial statements were approved by the Board of Trustees and aulhorised for issue on and were signed on ils behalf by.. Mr M Gardner Trustee Mr Mark Crawshaw (Chair) Trustee
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policles Charity information Swaffliam Gospel Hall Trust is a unincorporated charity conlrolled by a deed of trust. 1.1 Accounting conventlon The financi31 statements have been prepared in accordance with the charity's governing documenl, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. fFRS 102°) and the Charities SORP "Accounling and Reporting by Charities.. Slalemenl of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities nol to prepare a Statemenl of Cash Flows. The financial Statements have departed from the Charities (Accounts and Reports) Regulalions 2008 only lo the extent required lo provide a true and fair view. This departure has involved following the Slatemenl of Recommended Practi for charities applying FRS 102 ralher than the version of the Statement of Recommended Practice which is referred to in the Regulations bul which has since been wilhdrawn. The financial statements are prepared in sterling, which is the functional currency of the charily. Monetary amounts in these financial slatemenls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and lo include inveslmenl properties and certain financial instruments al fair valuel. The principal accounling policies adopted are set out below. 1.2 Golng concern At the lime of approving the financial slatemenls, the trustees have a reasonable expectation that the charily has adequate resour$ to continue in operational existence for the foreseeable future. Thus the truslees continue to adopt Ihe going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charilable objectives. During the previous year, the charity received £5,100 which was designated lo provide congregation support. The broughl fonmard balance as at the 6 April 2023 was £1,875. £1,425 of this amount was spent during the year towards support leaving £450 to be spent in the coming financial year. Restricted funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the reslricled funds are sel out in the noles lo the financial statements. Endowment funds are subject to specifio conditions by donors that the capilal musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entilled lo il after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donalions are recognised on receipl. Other donalions are recognised once the charily has been notified of the donation, unless performance conditions require deferral of Ihe amount. Income lax recoverable in relation to don2lions received under Gift Aid or deeds of covenant is recognised al the lime of the donation.
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (Continued) Legacies are recognised on reIpt or otheiSe if the charily has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in selllemenl, and the amount of Ihe obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lotal of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single aclivity are allocated directly to that activily. Shared costs which contribute to more than one aclivily and support costs which are not allributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spenl. and deprecialion charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequenlly measured at cost or valualion, net of depreciation and any impaimienl losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Property, Ashill 3 Castle Acre Road, Swaffliam Plant and Machinery Computer equipment New building, Sporle Road Property, Hale Road 20A on cost 2% on cost 25 % on reducing balance 250/0 on cost 20/0 on cost 20A on cosl Freehold land is not depreciated. The gain or loss arising on the disposal of an assel is determined as the difference betweén the sale proceeds and the carrying value of the asset, and is recognised in the stalement of financial activities. 1.7 Impairment of fixed assets Al each reporting end dale, the charity reviews the carrying amounts of ils tangible assels to delermine whether Ihere is any indication that those assets have suffered an impairment loss. If any such indication exists, Ihe recoverable amount of the asset is estimaled in order to determine the exlenl of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies {Continuedl 1.9 Financial instruments The charity has elected lo apply the provisions of Seclion 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charily's balance sheet when the charity becomes party to Ihe contraclual provisions of the inslrumenl. Financial assets and liabilities are offset, with the nel amounts presenled in the financial stalements, when Ihere is a legally enforceable right to set off the recognised amounts and there is an intenlion to settle on a net basis or to realise the asset and sellle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al Iransaclion price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constilutes a financing Iransaction, where the transaction is measured al Ihe present value of the future reiptS discounted at a market rate of interest. Financial assels dassified as receivable within one year are nol amortised. Basic financlal liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured 21 the present value of the future payments discounled al a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligalions lo pay for goods or services that have been acquired in the ordinary course of operalions from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presenled as non-current liabililies. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of flnancial liablllties Financial liabilities are derecognised when the charily's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cosl of any unused holiday entillemenl is recognised in the period in which the employee's services are received. Temiinalion benefits are recognised immediately as an expense when Ihe charity is demonslrably committed lo lerminate Ihe employment of an employee or to provide termination benefits. Critical accounting estimates and judgements In the application of Ihe charity's accounling policies, the Iruslees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities thal are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslimales and underlying assLtmptions are reviewed on an ongoing basis. Revisions to accounting eslimates are recognised in the period in which Ihe estimate is revised where the revision affects only that period, or in the period of Ihe revision and future periods where the revision affects both current and future periods. 10-
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 Donations Gift aid Grants from affiliated trusts Payroll giving and colleclions Gift aid donations 162,244 7,676 500 13,676 15,730 49,145 7.997 4,171 18,510. 199,826 79,823 Income from investments Unrestrlcted Unrestricted funds funds 2024 2023 Interesl receivable Other income Unrestricted Unrestricted funds funds 2024 2023 other income 3,541 11
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Charitable activities 2024 2023 Deprecialion and impairment Insurance Light and heat Telephone 35,828 2,209 5.762 651 34,663 1,931 4,424 619 F il Sundries Cleaning Gospel books Repairs and maintenance Professional fees Rales and water Accounlancy Donations 11,404 417 1,287 23,718 4.253 3,104 1,470 1,669 12,180 282 385 9,469 3,468 3,329 1,470 6,073 91,772 78,293 Grant funding of activities (see note 7) 15,000 106,772 78,293 Analysis by fund Unrestricted funds Restricled funds 103,332 3,440 75,426 2,867 106,772 78,293 Grants payable 2024 Grants to inslitulions: Colville Gospel Hall Trusl - Gift to brethren al Lowestoft 15,000 Net movement in funds 2024 2023 The net movement in fijnds is slated after chargingl{crediling}'. Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets 35,828 510,323 34,663 12-
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Trustees There were no trustees, remuneration or other benefi15 for Ihe year ended 5th April 2023 nor for the year ended 5th April 2022. 10 Other expenditure Unrestricted Unrestricted funds funds 2024 2023 Nel loss on disposal of tangible fixed assets 510,323 Donation of Gos el Halls - Pro Penhill Bush Lane Etlin Green During the financial year the Trustees concluded that one of the gospel halls owned by Swaffliam Gospel Hall Trust should be donated lo Dereham Gospel Hall Trust (an affiliated trust) for NIL consideration pursuant to the power contained in clause 2.2(0) of the Trust Deed. as they considered it would be in the best interesls of the congregation if the management and administration of gospel halls was consolidated. The donation was completed on 19th March 2024. Sale of Lo Cabin - S orle Road On the 31st January 2024, Ihe log cabin at Sporle Road was sold, cash proceeds of £3,000 was received. 11 Taxatlon The charity is exempt from taxation on ils activities because all ils income is applied for charitable purposes. 13-
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 12 Tanulble flxed a88et5 Prt¥p¢rty, JC•stl•Acr• Road, SwAflharn Plant4nd AI•Ghlnery Computsr N•w bulldlngp Propety. H41é CablD, Sporf• PropErty egulpm•nt Sport• Roid Ro4rt Raad P•nhill. Bush L•ne tal C05t At 6Apdl 2023 Addillons Disposals 768,913 288.053 6,575 940 1,678 2,072 263,008 3,756 16,230 591,832 1.947.623 5.434 116,2301 1591,8321 1608,0621 At 5Aprfl 2024 768,913 298.053 6,575 2,618 2.072 266,764 1,344.995 D8preclatlon and Impalrnient At 6Aprtl 2023 Depreciation cmaraed in Ihe year Elimlnaled in respect of dlsposals 85,372 11.789 4.933 5,961 4,856 430 940 164 207 41 36,821 5.282 2,815 32S 13,1401 79,763 11,836 191.5991 215,707 35,828 194,7391 At SAprfl 2024 97.161 10,894 5,286 1.104 248 42.103 156,796 Carrylng amount At S Apdl 2024 671,752 287.159 1,209 1,514 1,B24 224,661 1.188,199 At 5 April 2023 683,541 293,120 1.719 1,865 226,1B7 13.415 512.069 1,731.916 14-
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 12 Tangible fixed assets (Continued) Included in cost or valualion of land and buildings is freehold land of £179,452 {2022 - £179,452) which is not depreciated. Land Regislry Title Numbers.. Property, Walton Road, Ashill- NK87982 Property, Hale Road, Necton- NK202258 Property, 3 Castle Acre Road, Swaffham, PE37 7HS- NK88137 Pro Penhill Bush Lane Etlin Green During the financial year the Trustees concluded that one of the gospel halls owned by Swaffliam Gospel Hall Trust shoLfld be donated to Dereham Gospel Hall Trust (an affiliated Iruslj for NIL consideration pursuant to the power contained in clause 2.2{0) of the Trust Deed. as they considered it would be in the best interests of the congregation if the management and administration of gospel halls was consolidated. The donation was compleled on 19th March 2024.. Sale of Lo Cabin - S orle Road On the 31st January 2024, the log cabin al Sporle Road was sold, cash proceeds of £3,000 was received. 13 Debtors 2024 2023 Amounts falling due withln one year: Prepayments and accrued income 1,956 1,178 14 Creditors: amounts falling due within one year 2024 2023 Loan from Central GH Trust Olher creditors Accrued expenses 33,000 33,000 4,200 2,804 1,470 34,470 40,004 15-
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 15 Creditors: amounts falllng due after more than one year 2024 2023 Loan from Central GH Trust Other creditors 88,000 121,000 30,450 88,000 151,450 The loan owed to Woodlands Meeling at 5th April 2017 was transferred lo CGHT by an arrangement dated 29th September 2017. The loan owed lo Mrs Carolyn Ruth Michie {deceased), "Other Creditors above, was donaled to Swaffliam Gospel Hall Trust as at the 13th November 2023, according to her last will and testament. The balance as at the 24.10.2023 was £32,200 which was subsequenlly donated to the charily. 16 Restricted funds The restricted funds of the charity comprise the unexpended balance5 of donation5 and grants held on trust subject lo specific conditions by donors as lo how they may be used. At 6 April 2023 Resources expended At 5 April 2024 Freehold Property 169,133 (3,440) 165,693 Previous year: At 6 April Resources 2022 expended At 5 Aprll 2023 Freehold Propety 172,000 (2,867) 169,133 17 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donalions and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designaled funds which have been sel aside out of unrestricled funds by the trustees for specific purposes. At 6 April 2023 Incoming resources Resources expended At 5 April 2024 Congregation support General funds 1.875 1,469,968 (1,425) (612.230) 450 1,057,565 199,827 1.471,843 199,827 (613,655) 1.058,015 16-
SWAFFHAM GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 17 Unrestricted funds (Continued} Prevlous year: At 6 April 2022 Incoming Resources resources expended At 5 April 2023 Congregation support General funds 1,350 1,462,555 5,100 78,264 (4,575) (70,851) 1,875 1,469,968 1,463,905 83,364 (75,426) 1,471,843 18 Analysls of net assets between funds Unrestrlcted funds 2024 Restricted funds 2024 Totsl 2024 At 5 April 2024: Tangible assels Current assetsl(liabilities) Long term liabilities 1,022,506 123,509 (88,000) 165.693 1,188,199 123,509 (88,000) 1,058,015 165,693 1,223,708 Unrestricted funds 2023 Restrlcted funds 2023 Total 2023 At 5 April 2023: Tangible assets Current assetsl{liabilities) Long term liabilities 1,562,783 60,510 (151,450) 169,133 1,731,916 60,510 1151,450) 1,471,843 169.133 1,640,976 19 Related party transactions The lolal amount of aggregate donations from related parties for Ihe year ended 5th April 2024 was £34,790 (2023.. £27,890). The total amount of reimbursements to related parties was £NIL (2023.. £1,354.92). 17-