Charity registration number: 1159241
**SWAFFHAM GOSPEL HALL TRUST TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
## **Swaffham Gospel Hall Trust Contents**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2—4|
|Independent Auditor's Report|5—6|
|Statement of Financial Activities|7|
|Comparative Statement of Financial Activities|8|
|Statement of Financial Position|9|
|Statement of Cash Flows|10|
|Notes to the Statement of Cash Flows|11|
|Notes to the Financial Statements|12—17|
|The following pages do not form part of the statutory accounts:||
|Detailed Statement of Financial Activities|18|
**Swaffham Gospel Hall Trust Reference and Administrative Details For The Year Ended 5 April 2025**
|**Trustees**|Mr M S Crawshaw (Chair)|
|---|---|
||Mr D K Fryer|
||Mr R B Devine|
||Mr S J Cowley|
||Mr M Gardner|
|**Chair**|Mr M Crawshaw|
|**Treasurer**|Mr M Gardner|
|**Charity Number**|1159241|
|**Principal Address**|Gospel Hall|
||Horns Corner|
||Ashill|
||Norfolk|
||IP25 7AQ|
|**Accountants**|Aston Shaw Ltd (Norwich)|
||The Union Building|
||51-59 Rose Lane|
||Norwich|
||NR1 1BY|
|**Bankers**|NatWest Bank|
||Peterborough Branch|
||Cathedral Square|
||Peterborough|
||PE1 1XH|
|**Solicitors**|Leathes Prior|
||74 The Close|
||Norwich|
||Norfolk|
||NR1 4DR|
Page 1
**Swaffham Gospel Hall Trust Trustees' Report For The Year Ended 5 April 2025**
The trustees present their report and the financial statements for the year ended 5 April 2025.
## **Objectives and Activities**
## **Aims and Objectives**
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 Testaments 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 the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
## **Basis of Preparation of Financial Statements**
The financial statements have been prepared in accordance with the accounting policies set out in note 3 of the notes to the financial statements and comply with the Trust Deed and applicate law.
## **Achievements and Performance**
## **Main Achievements**
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 - www.plymouthbrethrenchristianchurch.org and in the schedules to the Trust Deed.
The Trust’s main achievement this year has been to continuing to open the halls to the congregation and visitors and encouraging good works by them which benefit the wider community.
## **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.
Funds are being saved for future Gospel halls.
## **Meetings**
Meetings held at the Gospel hall would normally 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 40 and 600 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 larger hall 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:
Contributed to the donation of a Defibrillator and cabinet to Little Cressingham & Threxton Parish Council Made a donation to the Mid Norfolk Foodbank
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:
...CONTINUED
Page 2
## **Swaffham Gospel Hall Trust Trustees' Report (continued) For The Year Ended 5 April 2025**
## **Spreading the Gospel message and the life of a Christian - continued**
- We seek and are encouraged to live exemplary lives in all our relationships with others in the wider community (including former Brethren), in accordance with the teachings of Holy Scripture (1 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 4:2).
- 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 4:28).
## **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 surplus of incoming resources over resources expended of £945,579. Total voluntary income received this year was £1,058,375 compared to £199,827 in the previous year.
Funds are being saved for future provisions of Gospel halls.
## **Reserves Policy**
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 no significant reserves other than a designated fund of £450 for congregation support. 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.
The Trustees note that the level of free reserves is currently high, this is because the charity is in the process of building up funds to support planned significant improvements to the Gospel Hall.
Free reserves at the year end were: £897,050 (2024: £NIL)
## **Structure, Governance and Management**
## **Governing Document**
The Charity is an unincorporated trust constituted by a Deed of Trust dated 5th July 2004, most recently amended by Deed of Variation dated 15th August 2014. The trust was registered with the Charity Commission for England and Wales on 17th November 2014 under Charity Registration Number: 1159241.
## **Structure and Governance**
None of the Trustees, nor any person connected with them, received any remuneration or expenses from the Charity in the year ended 5th April 2025 (2024: £NIL).
The Trust operates 3 Gospel halls 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.
## **Recruitment and appointment of new trustees**
...CONTINUED
Page 3
Swaffham Gospel Hall Trust
Trustees, Report (continued)
For The Year Ended 5 April 2025
Structure and Governance - continued
The trustees who served during the year and up to the date of signature of the flnancial statements were:
Mr Mlchael Gardner
Mr Mark Crawshaw {Chair)
Mr Slmon Cowley
Mr Roriald Devine
Mr Dean Fryer
Wlder network
The Trustees maintain informal links with simllar charities with a vlew to pooling experlence considered useful In pursuing
the objects of the Charity. The Charity also malntains particular Ilnks with Dereham Gospel hall Trust, wlth whlch it shares
members of Its congregatlon.
Risk Management
The Trustees have identified and reviewed the major risks to whlch the Charity is exposed and confirm that they have
established systems or procedures to manage and mitigate those risks.
statement of Trustees, Responsibilities
The trustees are responsible for preparing the Trustees, Report and the flnancial statements In accordance wlth appllcable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice).
The law applicable to charities In England and Wales requires the trustees to prepare financial statements for each financial
year which give a true and fair vlew of the state of affairs of the charlty and of the incoming resources and appllcatlon of
resources of the charity for that period. In preparing the financial statements the trustees are required to:
select suitable accounting pollcles and then apply them conslstently,
observe the methods and princlples in the Charlty SORP,.
make judgments and accountlng estimates that are reasonable and prudent.
state whether applicable accountlng stsndards have been followed; subject to any departures disclosed and explained
in the financlal statements. and
prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charlty will
continue in business.
The trustees are responslble for keeping adequate accounting records which disclose with reasonable accuracy at anytime the
financlal posltion of the charity and to enable them to ensure that the accounts comply with the Charlties Act 2011, the
Charity (Accounts and Reports) Regulatlons 2008 and the provisions of the trust deed. They are also responsible for
safeguarding the assets of the charlty and hence for taklng reasonable steps for the prevention and detection of fraud and
other Irregularities.
The trustees are responsible for the malntenance and Integrity of the corporate and financial information included on the
charlty's website. Leglslation in the Unlted Kingdom governing the preparatlon and disseminatlon of financial statements may
dlffer from legislatlon in other jurlsdlctions.
All transactions have been reviewed and approved by two trustees.
The trustees, report was approved by the board of trustees and signed on Its behalf by..
Mr M Gardner
Trustee
Date
./,12 é
Page 4
## **Independent Auditor's Report to the Members of Swaffham Gospel Hall Trust**
## **Opinion**
We have audited the financial statements of Swaffham Gospel Hall Trust (the "charity") for the year ended 5 April 2025 which comprise the Statement of Financial Activities (including Income and Expenditure Account), Statement of Financial Position, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
give a true and fair view of the state of the charity's affairs as at 5 April 2025 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for Opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions Relating to Going Concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other Information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on Which We Are Required to Report by Exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records or returns; or we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Trustees' Responsibilities Statement set out on page 2—4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Page 5
## **Independent Auditor's Report (continued) to the Members of Swaffham Gospel Hall Trust**
## **Auditor's Responsibilities for the Audit of the Financial Statements**
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our audit procedures were designed to identify material misstatements in the financial statements, whether due to fraud or error. In assessing the risk of irregularities, including fraud, we considered the entity’s compliance with laws and regulations, the nature of its operations, and the effectiveness of its internal controls. Procedures included inquiries of management, review of legal correspondence, testing of journal entries, and evaluation of significant transactions outside the normal course of activities. However, because of the inherent limitations of an audit, there is an unavoidable risk that material misstatements may not be detected.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use Of Our Report**
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Aston Shaw Limited
Date 02/02/2026
Page 6
## **Swaffham Gospel Hall Trust Statement of Financial Activities For The Year Ended 5 April 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**4**
Investments
**5**
**EXPENDITURE ON:**
Charitable activities:
**7**
Charitable Activity
**NET INCOME/(EXPENDITURE)**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**16**|**Unrestricted**
**funds**
**£**
1,043,216
15,159|**Restricted**
**funds**
**£**
-
-|**2025**
**Total**
**funds**
**£**
1,043,216
15,159|**2024**
**Total**
**funds**
**£**
199,826
1|
|---|---|---|---|---|
||1,058,375|-|1,058,375|199,827|
||(109,356)|(3,440)|(112,796)|(617,095)|
||949,019|(3,440)|945,579|(417,268)|
||949,019
1,058,015|(3,440)
165,693|945,579
1,223,708|(417,268)
1,640,976|
||2,007,034|162,253|2,169,287|1,223,708|
The notes on pages 11 to 17 form part of these financial statements.
Page 7
## **Swaffham Gospel Hall Trust Comparative Statement of Financial Activities For The Year Ended 5 April 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**4**
Investments
**5**
**EXPENDITURE ON:**
Charitable activities:
**7**
Charitable Activity
**NET (EXPENDITURE)/INCOME**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**16**|**Unrestricted**
**funds**
**£**
199,826
1|**Restricted**
**funds**
**£**
-
-|**2024**
**Total**
**funds**
**£**
199,826
1|
|---|---|---|---|
||199,827|-|199,827|
||(613,655)|(3,440)|(617,095)|
||(413,828)|(3,440)|(417,268)|
||(413,828)
1,471,843|(3,440)
169,133|(417,268)
1,640,976|
||1,058,015|165,693|1,223,708|
The notes on pages 11 to 17 form part of these financial statements.
Page 8
Swaffham Gospel Hall Trust
statement of Financial Posltlon
As At 5 April 2025
2025
2024
Unrestricted Restricted
funds
funds
Total
funds
Total
funds
Notes
FIXED ASSETS
Tangible Assets
12
1,002,731
162,253 1,164,984 1,188,199
1,002,731
162,253 1,164,984 1,188,199
CURRENT ASSETS
Debtors
Cash at bank and in hand
13
1,325
1,094,578
1,325
1,094,578
1,956
156,023
1,095,903
1,095,903
157,979
Creditors: Amount$ Falling Due Wlthln One Year
14
136,600)
(36,600) (34,470)
NET CURRENT ASSETS (LIABILITIES)
1,059,303
1,059,303
123,509
TOTAL ASSETS LESS CURRENT LIABILITIES
2,062,034
162,253 2,224,287 1,311,708
Credltors: Amounts Falllng Due After More Than One
Year
15
(55,000)
(55,0001 (88,000)
NET ASSETS
2,007,034
162,253 2,169,287 1,223,708
FUNDS OF THE CHARITY
Restricted Fut)ds
Unrestricted Fund5
162,253
165,693
2,007,034 1,058,015
TOTAL FUNDS
16
2,169,287 1,223,708
On behalf of the board
Mr M S Crawshaw (Chair)
Mr N Gardner
Trustee
Date
Trustee
./,12
The notes on pages 11 to 17 form part of these financial statements.
Page 9
## **Swaffham Gospel Hall Trust Statement of Cash Flows For The Year Ended 5 April 2025**
|**Notes**
**Cash flows from operating activities**
Net cash generated from operations
**1**
Net cash generated from operating activities
**Cash flows from investing activities**
Proceeds from disposal of intangible assets
Purchase of tangible assets
Proceeds from disposal of tangible assets
Interest received
Net cash generated from/(used in) investing activities
**Cash flows from financing activities**
Repayment of other loans
Increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
**2**
Cash and cash equivalents at end of year
**2**|**2025**
**£**
957,107
957,107
-
(711)
-
15,159
14,448
(33,000)
938,555
156,023
1,094,578|**2024**
**£**
92,120|
|---|---|---|
|||92,120|
|||(510,323)
(5,435)
513,324
1|
|||(2,433)|
|||(33,000)|
||||
|||56,687
99,336|
|||156,023|
Page 10
## **Swaffham Gospel Hall Trust Notes to the Statement of Cash Flows For The Year Ended 5 April 2025**
## 1. **Reconciliation of income/(expenditure) to cash generated from operations**
|.
**Reconciliation of income/(expenditure) to cash generated from operations**|||
|---|---|---|
|Net income/(expenditure)
_Adjustments for:_
Interest income
Depreciation of tangible assets
Loss on disposal of intangible assets
_Movements in working capital:_
Decrease/(increase) in trade and other debtors
Increase/(decrease) in trade and other creditors
Net cash generated from operations|**2025**
**£**
945,579
(15,159)
23,926
-
631
2,130
957,107|**2024**
**£**
(417,268)
(1)
35,828
510,323
(778)
(35,984)|
|||92,120|
## 2. **Cash and cash equivalents**
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
|Cash at bank and in hand
.
**Analysis of changes in net funds**
Cash at bank and in hand
Debts falling due within one year
Debts falling due after more than one year|**As at 6 April**
**2024**
**£**
156,023
(33,000)
(88,000)||**2025**
**£**
1,094,578
**Cash flows**
**£**
938,555
-
33,000|**2024**
**£**
156,023|
|---|---|---|---|---|
|||||**As at 5 April**
**2025**
**£**
1,094,578
(33,000)
(55,000)|
||35,023||971,555|1,006,578|
## 3. **Analysis of changes in net funds**
Page 11
## **Swaffham Gospel Hall Trust Notes to the Financial Statements For The Year Ended 5 April 2025**
## 1. **General Information**
Swaffham Gospel Hall Trust is an unincorporated charity registered with the Charity Commission, registered charity number 1159241. The principal address is Gospel Hall, Horns Corner, Ashill, Norfolk, IP25 7AQ.
## 2. **Statement of Compliance**
The 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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
## 3. **Accounting Policies**
## 3.1. **Basis of Preparation of Financial Statements**
The 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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
## 3.2. **Going Concern Disclosure**
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charity's ability to continue as a going concern.
## 3.3. **Fund Accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
Restricted funds are to be used for specific purposes as laid down by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## 3.4. **Incoming Resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity 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.
## 3.5. **Resources Expended**
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 settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to 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 spent, and depreciation charges are allocated on the portion of the asset’s use.
Page 12
## **Swaffham Gospel Hall Trust Notes to the Financial Statements (continued) For The Year Ended 5 April 2025**
## 3.6. **Tangible Fixed Assets and Depreciation**
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost Plant & Machinery 25% on reducing balance Computer Equipment 25% on cost
## **Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## 3.7. **Cash and Cash Equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## 3.8. **Financial Instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the futurereceipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## 4. **Income from Donations and Legacies**
|.
**Income from Donations and Legacies**|||
|---|---|---|
||**2025**|**2024**|
||**Unrestricted**|**Unrestricted**|
||**funds**|**funds**|
||**£**|**£**|
|Donations|142,204|162,244|
|Gift aid donations|19,540|15,730|
|Gift aid|5,209|7,676|
|||...CONTINUED|
Page 13
## **Swaffham Gospel Hall Trust Notes to the Financial Statements (continued) For The Year Ended 5 April 2025**
|The following grants are included within the income from grants above:
City Funds Account
Harrow Gospel Hall Trust
Mays Lane Gospel Hall Trust
5.
**Investment Income**
Other interest receivable
6.
**Net Income/(Expenditure)**
The net income/(expenditure) is stated after charging/(crediting):
Depreciation of tangible fixed assets - owned
Gain/Loss on disposal of intangible fixed assets
7.
**Analysis of Expenditure**
Charitable Activity
**Activities**
**undertaken**
**directly**
**£**
Charitable Activity
602,095
Grants from affiliated trusts
Payroll Giving and collections|873,535
2,728|500
13,676|
|---|---|---|
||1,043,216|199,826|
||**2025**
**Unrestricted**
**funds**
**£**
-
523,535
350,000|**2024**
**Unrestricted**
**funds**
**£**
500
-
-|
||873,535|500|
||**2025**
**Unrestricted**
**funds**
**£**
15,159|**2024**
**Unrestricted**
**funds**
**£**
1|
||**2025**
**£**
23,926
-|**2024**
**£**
35,828
510,323|
||**Grant**
**funding of**
**activities**
(see note 8)
**£**
15,000|**2025**
**Activities**
**undertaken**
**directly**
**£**
112,796|
|||**2024**
**Total**
**£**
617,095|
Page 14
**Swaffham Gospel Hall Trust Notes to the Financial Statements (continued) For The Year Ended 5 April 2025**
## 8. **Grants Payable**
|8.
**Grants Payable**|8.
**Grants Payable**|8.
**Grants Payable**||||
|---|---|---|---|---|---|
|**2025**
**Grants to**
**Institutions**
**£**
Charitable Activity
-
Grants paid to institutions, included above, are as follows:
**2025**
**£**
Colville Gospel Hall Trust - Gift to brethren at Lowestoft
-
9.
**Auditor's Remuneration**
Remuneration received by the charity's auditors and their associates during the year was as follows:
**2025**
**£**
**Audit Services**
Audit of the company's financial statements
3,600
10.
**Average Number of Employees**
Average number of employees during the year was: NIL (2024: NIL)
11.
**Other expenditure**
**2025**
**£**
Net loss on disposal of tangible fixed assets
12.
**Tangible Assets**
**Land &**
**Property**
**Freehold**
**Plant &**
**Machinery**
**Computer**
**Equipment**
**£**
**£**
**£**
**Cost**
As at 6 April 2024
1,335,803
6,575
2,618
Additions
-
711
-
As at 5 April 2025
1,335,803
7,286
2,618
**Depreciation**
As at 6 April 2024
150,407
5,286
1,104
Provided during the period
23,127
379
420
As at 5 April 2025
173,534
5,665
1,524|||**2025**
**Grants to**
**Institutions**
**£**
-||**2024**
**Grants to**
**Institutions**
**£**
15,000
**2024**
**£**
15,000
**2024**
**£**
-
**2024**
**£**
(510,323)
(510,323)
**Total**
**£**
1,344,996
711
1,345,707
156,797
23,926
180,723
...CONTINUED|
||||**2025**
**£**
-|||
|||||||
|||||||
|||||||
||1,335,803|7,286|2,618|||
||150,407
23,127|5,286
379|1,104
420|||
||173,534|5,665|1,524|||
|||||||
Page 15
**Swaffham Gospel Hall Trust Notes to the Financial Statements (continued) For The Year Ended 5 April 2025**
|**Net Book Value**
As at 5 April 2025
As at 6 April 2024|1,162,269|1,621|1,094|1,164,984|
|---|---|---|---|---|
||1,185,396|1,289|1,514|1,188,199|
## **Property Details:**
Included in cost or valuation of land and buildings is freehold land of £179,452 which is not depreciated.
## **Land Registry Title Numbers:**
Property, Walton Road, Ashill - NK87982 Property, Hale Road, Necton - NK202258 Property, 3 Castle Acre Road, Swaffham, PE37 7HS - NK88137
## 13. **Debtors**
|13.
**Debtors**|13.
**Debtors**|||||
|---|---|---|---|---|---|
|**Due within one year**
Other debtors
14.
**Creditors: Amounts Falling Due Within One Year**
Loan from Central GH Trust < 1 year
Accruals and deferred income
15.
**Creditors: Amounts Falling Due After More Than One Year**
Loan from Central GH Trust > 1 year
16.
**Movement in Funds**
**As at 6 April**
**2024**
**£**
**Unrestricted funds**
General:
General unrestricted fund
1,057,565
Designated:
Congregation Support
450
**Total unrestricted funds**
1,058,015
**Restricted funds**
3 Castleacre Road, Swaffham, Norfolk, PE37 7HS
165,693
**Total funds**
1,223,708||**Income**
**£**
1,058,375
-||**2025**
**£**
1,325
**2025**
**£**
33,000
3,600
36,600
**2025**
**£**
55,000
**Expenditure**
**£**
(109,356)
-|**2024**
**£**
1,956|
||||||**2024**
**£**
33,000
1,470|
||||||34,470|
||||||**2024**
**£**
88,000|
||||||**As at 5 April**
**2025**
**£**
2,006,584
450|
||1,058,015|1,058,375||(109,356)|2,007,034|
||165,693|-||(3,440)|162,253|
||1,223,708|1,058,375||(112,796)|2,169,287|
Page 16
## **Swaffham Gospel Hall Trust Notes to the Financial Statements (continued) For The Year Ended 5 April 2025**
|**Unrestricted funds**
General:
General unrestricted fund
Designated:
Congregation Support
**Total unrestricted funds**
**Restricted funds**
3 Castleacre Road, Swaffham, Norfolk, PE37 7HS
**Total funds**|**As at 6 April**
**2023**
**£**
1,469,968
1,875|**Income**
**£**
199,827
-|**Expenditure**
**£**
(612,230)
(1,425)|**As at 5 April**
**2024**
**£**
1,057,565
450|
|---|---|---|---|---|
||1,471,843|199,827|(613,655)|1,058,015|
||169,133|-|(3,440)|165,693|
||1,640,976|199,827|(617,095)|1,223,708|
## 17. **Transactions with Trustees**
During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:
||**2025**|**2024**||
|---|---|---|---|
||**£**|**£**||
|Other Expenses|281||-|
Number of trustees reimbursed for expenses during the year was 1 (2024: 0)
18. **Related Party Disclosures**
The total amount of aggregate donations from related parties for the year ended 5th April 2025 was £34,295 (2024: £34,790).
The total amount of reimbursements to related parties was £280.97 (2024: £NIL).
Page 17
## **Swaffham Gospel Hall Trust Detailed Statement of Financial Activities For The Year Ended 5 April 2025**
|**INCOME AND ENDOWMENTS FROM:**
**Donations and legacies**
Donations and contributions
Gift aid donations
Gift aid
Grants from affiliated trusts
Payroll giving and collections
**Investments**
Interest receivable
**EXPENDITURE ON:**
**Charitable Activities:**
**Charitable Activity**
Donations
Donated Services to Dereham Gospel Hall Trust
Sundry costs
Repairs, renewals and maintenance
Insurance
Telephone
Cleaning costs
Professional Fees
Audit & Independent Examination Fee
Light & Heat
Gospel Books
Subscriptions
Rates and Water
Grants to institutions
Depreciation
Loss on disposal of intangible fixed assets
**NET INCOME/(EXPENDITURE)**|**2025**
**Total**
**funds**
**£**
142,204
19,540
5,209
873,535
2,728|**2024**
**Total**
**funds**
**£**
162,244
15,730
7,676
500
13,676|
|---|---|---|
||1,043,216
15,159|199,826
1|
||15,159|1|
||1,058,375
(1,107)
(19,328)
(4,031)
(19,009)
(2,695)
(997)
(385)
(5,061)
(3,600)
(9,118)
-
(23,508)
(31)
-
(23,926)
-|199,827
(1,669)
-
(11,404)
(23,718)
(2,209)
(651)
(417)
(4,253)
(1,470)
(5,762)
(1,287)
-
(3,104)
(15,000)
(35,828)
(510,323)|
||(112,796)|(617,095)|
||(112,796)|(617,095)|
||945,579|(417,268)|
Page 18