OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Lime Walk Gospel Hall Trust

2025-04-05-accounts

Lime Walk Gospel Hall Trust

Report and Financial Statements

Year ended 5 April 2025 Charity number: 1159751

Lime Walk Gospel Hall Trust Report and Financial Statements Contents

Page
Legal and administrative information 1
Report of the Trustees 2 - 6
Report of the Independent Auditor 7 - 9
Statement of financial activities 10
Balance sheet 11
Cashflow statement 12
Notes forming part of the financial statements 13 - 18
Additional information 19

Lime Walk Gospel Hall Trust Legal and administrative information

Trustees

Mr S Robertson Chair Mr M J Hearn Mr S Hill Mr I Lawrence Resigned 8 October 2024 Mr N Silcock Resigned 8 November 2023 Mr R Woolgar Appointed 8 November 2023

Title to all freehold properties was held jointly at the report approval date by Messrs M Hearn, S Hill, S Robertson, and N Silcock.

Correspondence address

Ashcombe House Reading Road Harwell Didcot Oxfordshire OX11 0JJ

Independent auditor / examiner

Dr J R Ayling BSc FCA 8 Troutbeck Avenue Leamington Spa Warwickshire CV32 6NE

Bankers

Lloyds Bank plc PO Box 1000 Andover BX1 1LT

Solicitors

Challenor & Son Stratton House Bath Street Abingdon OX14 3LA

Wace Morgan Tomleys 31 Market Street Newtown Powys SY16 2PG

1

Lime Walk Gospel Hall 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 13 and 14, and comply with the Trust Deed and applicable law.

Structure, Governance and Management

Governing document

Lime Walk Gospel Hall Trust is an unincorporated trust constituted by a Deed of Trust dated 27 March 1992, amended 12 August 2005 and 8 August 2014, and was registered with the Charity Commission for England and Wales on 2 January 2015.

Recruitment and appointment of new trustees

The Trustees who have served during the year and since the year end are set out on page 1. No Trustees received remuneration or expenses from the Charity in the year ended 5 April 2025 (2024: none).

The Trust operates five 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. New Trustees 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. The Charity also maintains particular links with Foxhall Gospel Hall Trust (FGHT), with which it shares members of its congregation. Regular donations are made by Lime Walk Gospel Hall Trust to cover the maintenance and running expenses of FGHT.

Risk management

The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to mitigate those risks.

Objectives and activities

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 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.

These objectives are met principally through the provision and maintenance of Gospel Halls in Didcot, Wallingford and the surrounding area, which are opened to the congregation and visitors. In addition, the Charity seeks to encourage acts of service, care and compassion which benefit the wider community.

By providing suitable premises for regular worship and preaching, the Charity enables the practice and communication of Christian belief, which directly furthers its charitable purpose of advancing religion for the public benefit. The encouragement of charitable works and community engagement by congregation members further demonstrates the practical outworking of these beliefs.

2

Lime Walk Gospel Hall Trust Report of the Trustees for the year ended 5 April 2025

Objectives and activities (continued)

Objectives and aims (continued)

The Charity pursues its aims through:

Outcomes are evident through the continuity of meetings, levels of attendance and participation, the extent of outreach activity, and the involvement of volunteers.

Volunteers

Volunteers are fundamental to the Charity’s activities. The Charity has no paid staff, and activities are carried out by Trustees and congregation members on a voluntary basis.

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. The detail of activities is included under the section ‘Main activities and achievements’.

Achievements and Performance

Main activities and achievements

The Trust provides and maintains five Gospel halls in Didcot, Wallingford and the surrounding area, 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.

During the year ended 5 April 2025, the Charity continued to deliver its core charitable activities in line with its stated objectives. Key activities included:

The Trustees consider that the Charity made steady progress in delivering its objectives during the year. Attendance at meetings remained strong, and outreach and volunteer engagement continued. The Charity successfully maintained its existing halls and strengthened its financial position.

Key indicators for the year included:

3

Lime Walk Gospel Hall Trust Report of the Trustees for the year ended 5 April 2025

Achievements and Performance (continued)

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 45 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 halls and visitors are free to help themselves.

Spreading the Gospel message

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. There were 38 scheduled street preachings during the year to 5 April 2025 with up to 12 members of the congregation included in each session. As mentioned above, these preachings took place in Didcot and Wallingford and a large number of gospel tracts were also distributed at each session. The preachings are carried out at regular times and locations so that interested members of the public know when to attend.

In addition to street preaching, members of the congregation regularly volunteer to help in charitable activities and to assist local community needs as they arise. These activities are encouraged by the Trust.

The life of a Christian

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:

4

Lime Walk Gospel Hall Trust Report of the Trustees for the year ended 5 April 2025

Financial review

For the year ended 5 April 2025 the Trust had a net surplus of £363,474 (2024: deficit of £38,246, as restated, see note 3). The current year surplus can be attributed to increased donations and the receipt of a substantial legacy. Total voluntary income received this year was £552,115 compared with £163,238 in the previous year. All funds held were unrestricted funds.

The Charity is funded primarily through voluntary donations from members of the congregation, including Gift Aid, together with occasional legacies. These funding sources directly support the Charity’s core objectives by enabling the provision and maintenance of Gospel Halls and associated activities. The Charity does not undertake significant fundraising activities.

Risks that are monitored include reliance on voluntary income, varying operating and maintenance costs, and property-related risks. These are managed through regular oversight, prudent financial planning and maintaining appropriate reserves. Future financial performance may be affected by economic conditions impacting donations, changes in energy costs, and capital expenditure requirements for existing or new properties. Any shortfall in funds would be addressed by an appeal to the Congregation and, if needed, the broader Brethren community.

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 Trustees have decided to adopt a policy of maintaining sufficient reserves to cover day to day expenditure and any capital expenditure needs that may arise. 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 5 April 2025 were £377,599 (2024: £184,554) which the Trustees believe are sufficient to meet these needs.

£252,700 (2024: £nil) was held in a designated fund at 5 April 2025 for the purpose of acquiring a further meeting hall.

Plans for Future Periods

In the short term, the Charity plans to:

The Trustees intend to continue exploring opportunities to acquire additional premises in areas of identified need, informed by congregation growth and experience of operating existing halls. Lessons learned from recent financial and operational activity will guide future decisions to ensure the Charity remains sustainable and effective in delivering public benefit.

5

Lime Walk Gospel Hall Trust Report of the Trustees for the year ended 5 April 2025

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

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 Charities 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 two trustees.

Approved by the Trustees and signed on their behalf by:

31 January 2026

Mr S Robertson - Trustee

Date

6

Independent auditor’s report To the Trustees of Lime Walk Gospel Hall Trust

Opinion

I have audited the financial statements of Lime Walk Gospel Hall Trust (‘the charity’) for the year ended 5 April 2025 which comprise the statement of financial activities, the balance sheet, the cashflow statement, and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In my opinion, the financial statements:

Basis for opinion

I conducted my audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. My responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of my report. I am independent of the charity in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK, including the FRC’s Ethical Standard and I have fulfilled my other ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.

Emphasis of matter

I draw attention to note 3 in the financial statements regarding the property valuations undertaken in November 2025. This note refers to a potential variance in the valuations obtained and consequently on the calculated impairment recognised at 5 April 2023:

In presenting their valuation report the valuers stated that: " given the nature of the properties and the location of the properties it is reasonable to assume a valuation tolerance in the region of 5% ". For those properties for which an impairment was identified, this variance has been calculated to be £188,500 in total. Therefore, the value of the impairment recognised at 5 April 2023 (£796,765) could, on the basis of this statement, be reasonably expected to be as little as £608,265 or as much as £985,265.

My opinion is not modified in respect of this matter.

Other matter

I draw attention to the fact that the financial statements for the year ended 5 April 2024 are unaudited. My opinion is not modified in respect of this matter.

Conclusions relating to going concern

In auditing the financial statements, I 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 I have performed, I 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.

My responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

7

Independent auditor’s report To the Trustees of Lime Walk Gospel Hall Trust

Other information

The other information comprises the information included in the annual report, including the Trustees’ report, other than the financial statements and my auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in my report, I do not express any form of assurance conclusion thereon.

My responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or my knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact.

I have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, I have not identified material misstatements in the Trustees’ report.

I have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require me to report to you if, in my opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement set out on page 6, 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.

Auditor’s responsibilities for the audit of the financial statements

I have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

My 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 my 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. I design procedures in line with my responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which my procedures are capable of detecting irregularities, including fraud is detailed below:

8

Independent auditor’s report To the Trustees of Lime Walk Gospel Hall Trust

Auditor’s responsibilities for the audit of the financial statements (continued)

I obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosure in the financial statements. The laws and regulations I considered in this context were The Charities Act 2011 and the Charities SORP (FRS102) 2019. I assessed the required compliance with these laws as part of my audit procedures on the related financial statement items.

I identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be from the timing of donated income, the accounting treatment of the designated fund and tangible fixed assets, and the override of controls by management including through significant estimates and judgements.

My audit procedures to respond to these risks included enquiries of management, sample testing on the posting of invoices and journals, evaluating accounting treatments of material areas, reviewing accounting estimates and judgements for biases and reading minutes of meetings for those charged with governance.

Because of the inherent limitations of an audit, there is a risk that I will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as I will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of my responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of my auditor’s report.

Use of my 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. My audit work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for my audit work, for this report, or for the opinions I have formed.

2 February 2026

Dr Joanna Ayling, Statutory Auditor Dr J R Ayling BSc FCA 8 Troutbeck Avenue Leamington Spa Warwickshire CV32 6NE

Date

Dr Joanna Ayling is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

9

Lime Walk Gospel Hall Trust

Statement of Financial Activities for the year ended 5 April 2025

Notes
Income and endowments from:
Donations and legacies
4
Investments
Other
Contibutions to Bible Conference hosting costs
5
Sundry
Expenditure on:
Charitable activities
6
Other
Bible Conference hosting costs
5
Total funds brought forward
12
Total funds carried forward
12
Net income / (expenditure) being net movement in funds		 Year ended
5 April 2025
_( as re-stated,
_see note 3)
£
552,115
2,279
-
30
554,424
190,950
-
190,950
363,474
4,146,189

4,509,663		 5 April 2024
_( as re-stated,
_see note 3)
£
163,238
1,543
81,401
30
246,212
189,291

95,167
284,458

(38,246)

4,184,435

4,146,189

Year ended

There were no recognised gains and losses for the Charity for the current or prior years other than those included in the Statement of Financial Activities. All income and expenditure arises from continuing activities. All funds are unrestricted.

10

Lime Walk Gospel Hall Trust Balance Sheet as at 5 April 2025

5 April 2025 5 April 2024
(* as re-stated,
see note 3)
Notes £ £
Fixed assets
Tangible assets 9 3,879,364 3,961,635 *
Current assets
Debtors 10 14,169 9,818
Cash at bank and in hand 619,280 205,194
633,449 215,012
Creditors: amounts falling due
within one year		 11 (3,150) (30,458)
Net current assets 630,299 184,554
Total assets less current liabilities being total net assets 4,509,663 4,146,189 *
Unrestricted funds 4,509,663 4,146,189 *

Approved by the Trustees and signed on their behalf by:

31 January 2026

Mr S Robertson - Trustee

Date

11

Lime Walk Gospel Hall Trust Cash flow statement for the year ended 5 April 2025

Cash flows from operating activities
Net income / (expenditure)
Adjustments for:
Depreciation
Transfer from tangible fixed assets
(Increase) / decrease in debtors
(Decrease) / increase in creditors
Net cash provided by operating activities
Cash flows from investing activities
Purchase of fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Analysis of cash and cash equivalents
Cash at bank
Analysis of changes in net debt
At start of year
£
Cash
205,194
Loans falling due within one year
(15,000)
190,194		 Year ended
5 April 2025
£
363,474
58,203
29,545
(4,351)
(27,308)
419,563
(5,477)
(5,477)
414,086
205,194
619,280
619,280
Cash flows
£
414,086
15,000
429,086		 Year ended
5 April 2024
_( as re-stated,
_see note 3)
£
(38,246)

58,405

-
779
28,143
49,081
(16,940)
(16,940)
32,141
173,053
205,194
205,194
At end of year
£*
619,280
-
619,280

12

Lime Walk Gospel Hall Trust Notes forming part of the financial statements for the year ended 5 April 2025

1 Accounting policies

{a} General information and basis of preparation

Lime Walk Gospel Hall Trust is constituted by a Deed of Trust dated 27 March 1992, amended 12 August 2005 and 8 August 2014, and is registered with the Charity Commission for England and Wales (2 January 2015). The address of the registered office is given in the charity information on page 1 of these financial statements. The principle activity of the Charity is to provide and maintain Gospel Halls in Didcot, Wallingford and the surrounding area for the religious activities of Christians often referred to as ‘Brethren’.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

{b} Funds Structure

Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds may include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose.

{c} Income recognition

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Collections are recognised upon receipt. Donations are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.

Grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

{d} Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note {f} below.

13

Lime Walk Gospel Hall Trust Notes forming part of the financial statements for the year ended 5 April 2025

1 Accounting policies (continued)

{e} Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

{f} Allocation of support and governance costs

All support costs have been attributed to charitable activities.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

{g} Fixed assets and depreciation

Tangible fixed assets are capitalised above a threshold of £2,500 per asset and are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Depreciation is provided on tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land No depreciation Freehold buildings 2% straight line Plant & machinery 10% straight line Office equipment 25% reducing balance Assets under construction No depreciation

{h} Debtors

Debtors are recognised at the settlement amount due. Prepayments are valued at the amount

{i} Creditors

Creditors are recognised where the Charity has a present obligation resulting from a past event that will likely result in the transfer of funds to a third party, and the amount due to settle the obligation can be estimated reliably.

2 Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.

14

Lime Walk Gospel Hall Trust Notes forming part of the financial statements for the year ended 5 April 2025

3 Significant accounting estimate and prior period adjustment

The net effect of these changes on the previously reported figures was as follows:

Unrestricted funds at 5 April 2023
Net book value of freehold land and buildings at 5 April 2024
Depreciation charge for freehold land and buildings for the year
ended 5 April 2024
Unrestricted funds at 5 April 2024		 As previously
stated
£
4,710,537
74,340
4,927,019
4,981,200		 As re-stated
£
3,929,707
58,405
4,146,189
4,184,435

In presenting their valuation report the valuers stated that: " given the nature of the properties and the location of the properties it is reasonable to assume a valuation tolerance in the region of 5% ". For those properties for which an impairment was identified, this variance has been calculated to be £188,500 in total. Therefore, the value of the impairment recognised at 5 April 2023 (£796,765) could, on the basis of this statement, be reasonably expected to be as little as £608,265 or as much as £985,265.

Income and endowments from donations and legacies
Legacy
Collections
Gift aid donations
Gift aid tax recoverable
Grant income		 Year ended
Year ended
5 April 2025
5 April 2024
£
£
253,200
-
240,430
128,400
44,275
27,870
11,069
6,968
3,141
-
552,115
163,238

4 Income and endowments from donations and legacies

The legacy was designated by the Trustees to the properties fund, see note 12.

5 Bible Conference

A Bible Conference was held at the High Road hall in Brightwell-cum-Sotwell in August 2023. This event included international as well as local attendees, and comprised Gospel preachings, Bible readings and Bible addresses. The costs of the event (which included equipment hire, catering, security measures, etc) were financed by giving from the congregation and other Gospel Hall Trusts.

15

Lime Walk Gospel Hall Trust Notes forming part of the financial statements for the year ended 5 April 2025

6
Expenditure on charitable activities
Donations made
Foxhall Gospel Hall Trust
Lateral flow tests for the congregation
Other charitable activity costs
Meeting rooms running costs
Insurance
Light and heat
Repairs and maintenance
Cleaning
Telephone
Support costs (note 7)		 Year ended
Year ended
5 April 2025
5 April 2024
_( as re-stated,
_see note 3)
£
£
8,831
15,750
-
6,198
8,831
21,948
-
90
4,396
5,267
26,976
36,755
47,114
50,375
3,765
3,809
2,135
1,666
84,386
97,872
97,733
69,381
*
190,950
189,291
**

7 Allocation of support costs

All support costs associated with charitable activities are allocated to the sole charitable activity of the Charity being the provision and maintenance of Gospel Halls for the local Brethren community.

Legal fees
Depreciation
Governance costs
Support cost		 Year ended
Year ended
5 April 2025
5 April 2024
_( as re-stated,
_see note 3)
£
£
36,380
8,601
58,203
58,405
*
3,150
2,375
97,733
69,381
**

Governance costs comprise the auditor's fee of £3,150 (2024: independent examiner's fee of £2,375). No other fees were payable to the auditor or independent examiner (2024: £nil).

8 Trustee remuneration and staff costs

No Trustees received remuneration or reimbursement of expenses from the Charity in the year ended 5 April 2025 (2024: none). The Charity employs no staff (2024: none).

16

Lime Walk Gospel Hall Trust Notes forming part of the financial statements for the year ended 5 April 2025

9
Tangible fixed assets
£
At 6 April 2024
5,690,417
Additions
-
Transfer
-
At 5 April 2025
5,690,417
Depreciation
At 6 April 2024
963,945

Annual charge
55,129
Disposals
-
At 5 April 2025
1,019,074

Impairment
796,765

At 5 April 2025
796,765
Net book value
At 5 April 2025
3,874,578
At 5 April 2024
3,929,707

Freehold
land and
buildings
Cost
(* as re-stated,
see note 3)
At 5 April 2024		 £
24,621
-
-
24,621
19,702
2,463
-
22,165
-
-
2,456
4,919
Plant &
machinery		 £
£
£
11,365
24,568
5,750,971
-
5,477
5,477
-
(29,545)
(29,545)
11,365
500
5,726,903
8,924
-
992,571

611
-
58,203
-
-
-
9,535
-
1,050,774

-
-
796,765
*
-
-
796,765
1,830
500
3,879,364
2,441
24,568
3,961,635

Office
equipment
Total
Assets under
construction
_( as re-stated,
_see note 3)

Included within freehold land and buildings at 5 April 2025 and 5 April 2024 is land at a cost of £2,137,260 which has not been depreciated.

Assets under construction comprise professional fees incurred in the pursuit of planning permission for potential additional meeting hall sites. The transfer from assets under construction is in respect of previous capitalised costs which have been written off to legal expenses as plans to purchase that particular site have been abandoned in the year.

10
Debtors
Prepayments and accrued income		 5 April 2025
£
14,169		 5 April 2024
£
9,818

No debtors are due after more than one year.

17

Lime Walk Gospel Hall Trust Notes forming part of the financial statements for the year ended 5 April 2025

11
Creditors: amounts falling due
within one year
Trade creditors
Accruals and deferred income
Loans		 5 April 2025
5 April 2024
£
£
-
13,083
3,150
2,375
-
15,000
3,150
30,458

In July 2023, loans of £15,000 were made to the Charity to fund any potential shortfall in contributions to the Bible Conference hosting costs, see note 5. All loans were interest free, unsecured, and waived in the year ending 5 April 2025, thus being recognised within collections.

12 Funds

Balance
at 6 April
2024
£
General fund
4,146,189 *
Properties fund
-
4,146,189
_( as re-stated,
_see note 3)		 Income
£
301,224
253,200
554,424		 £
(190,950)
-
(190,950)
Expenditure		 Transfer
£
500
(500)
-		 Balance
at 6 April
2025
£
4,256,963
252,700
4,509,663

The designated properties fund was established by the Trustees to ringfence income and expenditure relating to the future purchase of additional properties. The transfer in the year was in respect of legal costs capitalised within assets under construction. There are no restricted funds.

Fixed assets
Current assets
Current liabilities
Fund balance		 Unrestricted
Funds
£
3,879,364
633,449
(3,150)
4,509,663		 Restricted
Funds
Total
£
£
-
3,879,364
-
633,449
-
(3,150)
-
4,509,663

13 Related party transactions

Donations of £27,055 (year ended 5 April 2024: £19,520) were made by the Trustees, or their immediate family or business interests, to the Charity in the year ended 5 April 2025. Note that included within these figures is the waiver of a loan of £5,000 made by a company of which Mr Stuart Hill (Trustee) is a director. These donations were made to the general fund on the same basis as all other donors.

There were no other related party transactions during either the year ended 5th April 2025, or the year ended 5th April 2024 that require disclosure.

14 Controlling party and ultimate controlling party

The controlling party and ultimate controlling party of the Charity is the Board of Trustees of Lime Walk Gospel Hall Trust.

18

Lime Walk Gospel Hall Trust

Additional information which does not form part of the financial statements for the year ended 5 April 2025

1 Analysis of freehold land and buildings

Didcot
Road
High
Road
Cost
£
£
At 6 April 2024
268,581
3,721,989
Additions
-
-
Disposals
-
-
At 5 April 2025
268,581
3,721,989
Depreciation( as re-stated, see note 3)_
At 6 April 2024
59,117
803,025

Annual charge
5,372
43,197
Disposals
-
-
At 5 April 2025
64,489
846,222
Impairment( as re-stated, see note 3)_
-
162,161

At 5 April 2025
-
162,161
Net book value_( as re-stated, see note 3)_
At 5 April 2025
204,092
2,713,606
At 5 April 2024
209,464
2,756,803

At 5 April 2024		 Station
Road
£
630,940
-
-
630,940
52,150

5,224
-
57,374
174,014

174,014
399,552
404,776
*		 £
539,231
-
-
539,231
25,017

490
-
25,507
214,704

214,704
299,020
299,510

Dunsomer
Hill*		 Woodway
Road
£
£
529,676
5,690,417
-
-
-
-
529,676
5,690,417
24,636

963,945

846
55,129
-
-
25,482
1,019,074
245,886

796,765

245,886
796,765
258,308
3,874,578
259,154

3,929,707

Total

Land registry references:

Didcot Road: BK123069 High Road: ON248874 and ON282044 Station Road: ON281565 Dunsomer Hill Church & Gospel Hall ON327820 Woodway Road Church: ON345758

2 Fund movements for the prior year

(* as re-stated, see note 3)

General fund Balance
at 6 April
2023
£
4,184,435*		 Income
£
£
246,212
(284,458) *
Expenditure		 Transfer
Balance
at 6 April
2024
£
£
-
4,146,189*

19