Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Charity Registration No: 1159754
Springvale Gospel Hall Trust
Report of the trustees and unaudited financial statements Year ended 5 April 2024
HEBBLETHWAITES
Chartered Accountants 2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Contents
| Pages | |
|---|---|
| Reference and administrative details | 2 |
| Report of the trustees | 3-6 |
| Independent examiner’s report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10-13 |
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Report of the Trustees For the year ended 5 April 2024
| Charity name | Springvale Gospel Hall Trust |
|---|---|
| Registered charity number | 1159754 |
| Trustees | Mr D Bricknell |
| Mr M J Hughes | |
| Mr J Smith (Chairman) | |
| Treasurer | J Mallinson |
| Principal address | 58 Common Road |
| Thorpe Salvin | |
| Worksop | |
| S80 3JJ | |
| Independent examiner | R F Brennan F.C.A. |
| Hebblethwaites | |
| Chartered Accountants | |
| 2 Westbrook Court | |
| Sharrow Vale Road | |
| Sheffield | |
| S11 8YZ | |
| Accountant | Hebblethwaites |
| Chartered Accountants | |
| 2 Westbrook Court | |
| Sharrow Vale Road | |
| Sheffield | |
| S11 8YZ | |
| Bankers | The Royal Bank of Scotland |
| 5 Church Street | |
| Sheffield | |
| S1 2HF | |
| Solicitors | Farrer & Co LLP |
| 66 Lincoln’s Inn Fields | |
| London | |
| WC2A 3LH |
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Report of the Trustees For the year ended 5 April 2024
The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 10/11 and comply with the Trust Deed and applicable law.
Structure, governance and management
Governing document
The Charity is an unincorporated trust constituted by a Deed of Trust dated 31 May 1979, most recently amended by Deed of Variation dated 8 August 2014. The Trust was registered with the Charity Commission for England and Wales on 2 January 2015 under Charity Registration Number: 1159754
Recruitment and appointment of new trustees
The names of the Trustees who served during the year and since the year end are set out on page 2. None of the Trustees, nor any person connected with them, received any remuneration or expenses from the Charity in the year ended 5 April 2024 (2023: £nil).
The Trust previously owned and operated a Gospel hall, where Trustees were chosen from amongst the regular congregation of the hall. New Trustees are nominated by the existing Trustees or by the congregation, and must be appointed by unanimous resolution of the congregation. They are selected according to their skills and experience and are expected to use both in furthering the objects of the Charity. Checks are made to ensure the Trustees’ eligibility to act and incoming Trustees are made aware of their responsibilities by the existing Trustees, who ensure that new Trustees read the Trust Deed and relevant Charity Commission guidance.
Wider network
The Trustees maintain informal links with similar charities with a view to pooling experience considered useful in pursuing the objects of the Charity.
Risk management
The Trustees have identified and reviewed the major risks to which the Charity is exposed and confirm that they have established systems or procedures to manage and mitigate those risks.
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.
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.
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Report of the Trustees For the year ended 5 April 2024
Main activities and achievements
The Trust previously provided and maintained a Gospel hall 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 the proceeds from the sale of property in the previous year were distributed as planned to affiliated trusts. In addition the trust also received an overage payment of £43,370 following the sale of land and the proceeds which was also distributed to an affiliated trust.
There are no achievements to report as the Sheffield Congregation (SGHJT) merged with the Doncaster congregation (SRGHT) in May 2016. The main activities are recoded from SRGHT.
Plans for Future Periods
Following the distribution of proceeds from the sale of property the trust is essentially dormant.
Meetings
No meetings were held.
Spreading the Gospel message and the life of a Christian
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.
Street preaching is recorded from SRGHT.
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:
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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).
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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).
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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).
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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.
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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).
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Report of the Trustees For the year ended 5 April 2024
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
Total voluntary income received this year was £0 compared to £300 in the previous year. Gain on sale of property in the year amounted to £0 compared to £2,457,151 in the previous year. Other non-charitable income in the year amounted to £43,370 compared to £350 in the previous year.
Expenditure amounted to £2,813,104 (2023: £90,900), including £2,808,370 distributions and legal and professional costs of £4,680 (2023: £90,898).
Net expenditure for the year amounted to £2,766,471 (2023: Net income of £2,384,098) and funds carried forward at 5 April 2024 of £14,969 (2023: £2,781,139). The exceptionally high net expenditure is a result of large distributions/donations to other charitable funds arising from the disposal of property in the previous period. All funds held were unrestricted funds.
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. The congregation is kept regularly informed as to particular needs for funds, and other relevant matters and the Trustees aim to ensure that the Charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure, by raising a funds appeal to the congregation.
Free reserves at the year end were £14,970 (2023: £2,781,441).
Statement of Trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report 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 & Wales requires 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 of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Report of the Trustees For the year ended 5 April 2024
The trustees are responsible for keeping proper accounting records that 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 Charities (Accounts and Reports) Regulations 2008 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.
On behalf of the Board:
D Bricknell Trustee Date: ........................................... [ baviDocuSignedB8738713C811469.. by:Bricknell
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Independent Examiner’s Report For the year ended 5 April 2024
I report to the trustees on my examination of the accounts of the Springvale Gospel Hall Trust for the year ended 05 April 2024.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
BASIS OF THE INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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The accounts do not accord with those records; or
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The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and faire view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
………………………………………… (Signed, Date) c 34C72B266FBC446...DocuSigned by:
Roger Brennan FCA Hebblethwaites Accountants, 2 Westbrook Court, Sharrow, S11 8YZ
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Statement of financial activities For the year ended 5 April 2024
| Unrestricted | Designated | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2024 | 2023 | ||
| Notes | £ | £ | £ | £ | £ | |
| Income and endowments from: | ||||||
| Donations and legacies: | ||||||
| Collections | 300 | |||||
| Contributions from the | ||||||
| congregation | ||||||
| Gift Aid donations | ||||||
| Income tax refunds | ||||||
| Payroll giving | ||||||
| Legacies | ||||||
| Grants | ||||||
| Investments | ||||||
| Bank interest | 3,263 | 3,263 | 17,194 | |||
| Other | ||||||
| Profit on sale of assets | 2,457,151 | |||||
| Non-charitable income | 43,370 | 43,370 | 363 | |||
| Total | 46,633 | 46,633 | 2,475,008 | |||
| Expenditure on: | ||||||
| Charitable activities | ||||||
| Running meeting rooms | ||||||
| Utilities | ||||||
| Repairs & Maintenance | ||||||
| Bank Charges | 54 | 54 | 2 | |||
| Sundry Expenses | ||||||
| Legal & Professional | 4,680 | 4,680 | 90,898 | |||
| Distributions & Donations | 2,808,370 | 2,808,370 | ||||
| Total | 4 | 2,813,104 | 2,813,104 | 90,900 | ||
| Net income/(expenditure) | (2,766,471) | (2,766,471) | 2,384,097 | |||
| Gains/(losses) on revaluation of | ||||||
| fixed assets | ||||||
| (2,766,471) | (2,766,471) | |||||
| Net movement in funds | 2,384,097 | |||||
| Reconciliation of funds | ||||||
| Total funds brought forward | 2,781,441 | 2,781,441 | 397,344 | |||
| Total funds carried forward | 14,970 | 14,970 | 2,781,441 |
The notes on pages 10 to 13 form part of these financial statements. All of the above activities are classed as continuing and there are no gains and losses other than those included above.
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Balance sheet As at 5 April 2024
| Notes Fixed assets Tangible fixed assets Current assets Debtors: Prepayments and accrued income Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year: Other creditors Accruals and deferred income Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year: Loan Net assets Funds Unrestricted income fund Restricted funds Total funds 5 |
2024 £ - 14,970 14,970 14,970 14,970 14,970 |
2023 £ - |
|---|---|---|
| 2,781,441 | ||
| 2,781,441 | ||
| 2,781,411 | ||
| 2,781,441 | ||
| 2,781,441 |
The unaudited financial statements were approved and authorised for issue by the Trustee of Springvale Gospel Hall Trust on 2024 and signed on their behalf by
D Bricknell Trustee
The notes on pages 10 to 13 form part of these financial statements
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2024
1. Accounting policies
1.1 Basis of preparation financial statements
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 (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and UK Generally Accepted Practice.
The functional currency of the charity is sterling (£).
The Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
1.2 Income
Donations are recognised in the year in which there is entitlement and probability of receipt and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future year. Gift aid is added to the value of the donation to which it relates.
Donated services are recognised as income and expenditure in the financial statements when organisations or individuals offer their services and support pro bono. The value of these donated services to Springvale Gospel Hall Trust is considered to be equal to market value which would be paid were the service formally procured. This includes services paid for by other trusts.
Investment income is accounted for on a receivable basis.
1.3 Expenditure
Expenditure is included on a cash basis. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Charitable activities comprise those costs directly attributable to the fulfilment of the charitable objects.
1.4 Governance and support costs
Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and costs related to statutory requirements. Governance and support costs are allocated to charitable activities on the basis of capacity used.
1.5 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost and are not depreciated.
1.6 Taxation
The Trust is a registered charity and is not liable to United Kingdom income or corporation tax on charitable activities, provided income falls within the charitable exemptions and is spent on charitable purposes.
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2024
1.7 Funds
The general unrestricted fund is free for the Trustees to use for any purposes in furtherance of the trust’s charitable objects.
Restricted funds arise from donations to the trust, which are made for a specific purpose. Restricted funds can only be used for the purpose for which funds were given.
1.8 Preparation of consolidated financial statements
The Charity does not have a trading subsidiary and there is no requirement to prepare consolidated accounts
1.9 Going concern
Given the trust sold the gospel hall in the year, these accounts are not prepared on a going concern basis. The trust is no longer deemed a going concern because it owns no assets and anticipates no further transactions other than the distribution of cash reserves to other affiliated trusts in the next financial year.
2. Trustees’ remuneration and expenses
No Trustees received any remuneration or other benefits from an employment with the charity and no Trustees were reimbursed for expenses (2023: None).
3. Wages and salaries
There are no employees (2023: none).
4. Resources expended
| esources expended | ||||
|---|---|---|---|---|
| Direct costs - Utilities - Repairs and Maintenance - Bank Charges - Sundry Expenses - Legal & Professional Distributions to other charitable funds |
Meeting rooms £ - - 54 - 4,680 2,808,370 2,813,104 |
Other charitable activities £ |
2024 £ - - 54 - 4,680 2,808,370 90,900 |
2023 £ - - 2 - 90,898 - |
| 90,900 |
Governance costs include £2,100 (2023: £0) in respect of independent examiner’s fees.
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2024
5. Analysis of net assets between funds 5.1 Current year
| Tangible fixed assets Current assets Current liabilities Total funds 6.2 Prior year Tangible fixed assets Current assets Current liabilities Total funds |
Unrestricted Funds £ - 14,970 - 14,970 Unrestricted funds £ - 2,781,441 - 2,781,441 |
Restricted Funds £ Restricted funds £ |
Total Funds £ - 14,970 - |
|---|---|---|---|
| 14,970 | |||
| Total Funds £ - 2,781,441 - |
|||
| 2,781,441 |
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Docusign Envelope ID: 545E3B92-E664-4098-99DB-74BEFE9B7AE5
Springvale Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2024
6. Movement in funds
| 6.1 Current year Restricted funds Fund A Fund B Designated Funds Unrestricted funds Total funds 6.2 Prior year Restricted funds Fund A Fund B Designated Funds Unrestricted funds Total funds |
Balance at 6 April 2023 Incoming resources Resources expended Realised/ unrealised gains and losses Balance at 5 April 2024 £ £ £ £ £ |
|---|---|
| 2,781,441 46,633 2,813,104 14,970 |
|
| 2,781,441 46,633 2,813,104 14,970 |
|
| Balance at 6 April 2022 Incoming resources Resources expended Realised/ unrealised gains and losses Balance at 5 April 2023 £ £ £ £ £ |
|
| 397,344 2,474,997 90,900 2,781,441 |
|
| 397,344 2,474,997 90,900 2,781,441 |
7. Transactions with related parties
In the opinion of the trustees, there were no related party transactions which required disclosure during the year
8. Volunteers
Springvale Gospel Hall Trust relies entirely on volunteers to carry out the administration of the trust.
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