**Charity Registration No: 1159954** **READING GOSPEL HALL TRUST Report of the Trustees and Audited Financial Statements Year Ended 5[th] April 2021** ## **READING GOSPEL HALL TRUST YEAR ENDED 5[TH] APRIL 2021** ||**CONTENTS**
Pages
Reference and administrative details
1
Report of the Trustees
2 - 5
Auditor’s Report
6 - 7
Statement of Financial Activities
8 - 9
Balance Sheet
10
Notes to the Financial Statements
11 - 16| |---|---| Page 1 **READING GOSPEL HALL TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 5[TH] APRIL 2021** |These are as below:-|| |---|---| |**Charity name**|Reading Gospel Hall Trust| |**Registered charity number**|1159954| |**Trustees**|Richard James Hearn| ||Roger David Humphreys| ||Andrew Keith Parsons (Chair)| ||Howard Tennent| ||Charles Andrew White| |**Treasurer**|Charles Andrew White| |**Principal address**|C/O Charles Andrew White,| ||62 Wokingham Road,| ||Crowthorne,| ||Bracknell,| ||Berkshire,| ||RG45 7QA.| |**Accountant**|Keith F. Pavey,| ||Broadoak Accounting Services,| ||6 The Oaks,| ||Wembdon Rise,| ||Bridgwater,| ||Somerset,| ||TA6 7QL.| |**Auditors**|Brooking, Ruse & Co. Limited,| ||Chartered Accountants,| ||2 Stafford Place,| ||Weston-super-Mare,| ||Somerset,| ||BS23 2QZ.| |**Bankers**|Lloyds Bank,| ||Broad Street,| ||Reading,| ||Berkshire,| ||RG1 2BT.| Page 2 **READING GOSPEL HALL TRUST** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5[TH] APRIL 2021** The Trustees present their Report along with the Financial Statements of the Charity for the Year Ended 5[th] April 2021. The Financial Statements have been prepared in accordance with the accounting policies set out on pages 11 - 12 and comply with the Trust Deed and applicable law. ## **Structure, Governance and Management** ## **Governing Document** The Charity is controlled by a Deed of Trust, and constitutes an Unincorporated Charity. Reading Gospel Hall Trust is constituted by a Deed of Trust dated 10[th] February 1980, subsequent amending Deeds, and most recently by a Deed of Variation dated 28[th] February 2014. The Trust was registered with the Charity Commission for England and Wales on 15[th] January 2015 under Charity Registration Number: 1159954. ## **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. None of the Trustees, nor any person connected with them, received any remuneration or expenses from the Charity in the Year, nor in the preceding financial year. The Trust operates six 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. ## **Wider Network** The Trustees maintain informal links with Trustees of similar Charities with a view to pooling experience considered useful in pursuing the objects of the Charity. This includes those of the Sarum Hill Gospel Hall Trust, which also operates Gospel Halls in Reading, with which it shares members of its congregation. ## **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 know 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. Page 3 **READING GOSPEL HALL TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** ## **Main Activities and achievements** The Trust provides and maintains six 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 their website - www.plymouthbrethrenchristianchurch.org and in the schedules to the Trust Deed. The Trust’s main achievements this year have been to maintain the Gospel Halls pending the lifting of the Covid-19 restrictions as further stated below. It has also encouraged works by the congregation, as described below. The Trustees have also established an Emergency Needs fund for the duration of the current pandemic and any resultant economic downturn. This is providing limited financial assistance by the way of grocery vouchers to households, who have experienced a recent and significant decrease in income due to the pandemic, such that it is likely to impact on the health and/or welfare of members of the household. The trust has appointed a Local Welfare Panel to manage the application process and to administer the vouchers to qualifying applicants. ## **Meetings** Meetings normally 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 36 and 630 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 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. As stated further in this Report, the use of the Halls has been temporarily suspended from 18[th] March 2020, due to the Covid-19 pandemic, with consequent amendment for the time being of arrangements described under this heading. ## **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 normally participate in a programme of street preaching and Gospel tracts are provided free of charge by the Charity to such preachers and to be handed out to interested members of the public. Such preachings previously took place every week, but have been of necessity curtailed due to the pandemic, and will be fully resumed when conditions permit. In addition, members of the congregation assisted another charity, the Rapid Relief Team, with support to the Authorities on a suspected terrorist occasion. Donations of food boxes have regularly been made for the benefit of the homeless. An expansion of public benefit activities may be anticipated when the conditions from the pandemic ease. 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:- 1. 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) Page 4 ## **READING GOSPEL HALL TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** ## **Spreading the Gospel message and the life of a Christian (Continued)** 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). 3. 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). 4. 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. 5. 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). ## **Volunteers** Reading Gospel Hall Trust relies on volunteers to carry out the management, administration and, where appropriate, general maintenance work. The Trust has no paid staff or paid Trustees. ## **Funding** Funding is sought through gifts and donations from the congregation. Grants are sometimes received from other charitable trusts with complementary objectives. Gift aid is also claimed on relevant gifts. ## **Financial review** ## **Financial position** In the Year ended 5[th] April 2021 the Trust had a deficit amounting to £33,477 of Incoming Resources against Resources Expended on General Fund (after Depreciation charged of £235,957); but a surplus of £1,802 on the Designated Fund. Total voluntary Income received this Year was £302,325 compared to £254,554 in the Year to 5[th] April 2020. Monies held on Bank Accounts at the year end totalled £690,393. 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. This is based on the charity's size and the level of financial commitments. The Trustees have a programme of raising further funds by way of donations and collections, and if necessary loans, in order to fund intended projects, and to facilitate repayment of existing lending. The congregation is kept regularly informed of needs accordingly. Free reserves at the year end were £689,857. ## **Plans for Future Periods** The Trust plans to continue action to pursue the location of sites for potential further Local Halls. It is also envisaged that in due course, Halls owned other than that at Church Lane, Three Mile Cross, will be proposed for transfer to the Sarum Hill Gospel Hall Trust, which has parallel objectives in the Reading area. Subject to these remarks, all current activities will be continued. From 18[th] March 2020, Reading Gospel Hall Trust ceased using the Halls, which it operates. This was a result of the global Covid-19 pandemic and the general lockdown imposed by the Government on 23[rd] March 2020. The Trust aims to use the Gospel Halls again once the general lockdown is lifted and it is deemed safe to do so. The Trustees do not consider that the Covid-19 pandemic will have any effect on the ability of the Trust to continue as a going concern. Page 5 ## **READING GOSPEL HALL TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** ## **Statement of Trustees’ Responsibilities** The Trustees are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations and the provisions of the Trust Deed require the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those Financial Statements, the Trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - - prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to 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. On behalf of the board: Trustee Date: …………………………………......................................... Page 6 ## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF READING GOSPEL HALL TRUST FOR THE YEAR ENDED 5[TH] APRIL 2021** ## **Opinion** We have audited the financial statements of Reading Gospel Hall Trust for the year ended 5[th] April 2021 which comprise the Statement of Financial Activities, the Balance Sheet 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the Charity’s affairs as at 5[th] April 2021 and of its income and expenditure for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 twelve 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 trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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. Page 7 ## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF READING GOSPEL HALL TRUST FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** ## **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, we have not identified material misstatements in the Trustees’ Annual Report. We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: - sufficient accounting records have not been kept; - the financial statements are not in agreement with the accounting records and returns; or - we have not obtained all the information and explanations necessary for the purposes of our audit. ## **Responsibilities of the trustees** As explained more fully in the trustees’ responsibilities statement set out on page 5, 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 they 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. ## **Our responsibilities for the audit of the financial statements** 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. A further description of our 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 our auditor’s report. ## **Use of our report** This report is made solely to the Charityʼs trustees, as a body, in accordance with sec�on 144* of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the Charityʼs trustees those ma�ers we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permi�ed by law, we do not accept or assume responsibility to anyone other than the Charityʼs trustees as a body, for our audit work, for this report, or for the opinions we have formed. Robert D. Orr (Senior Statutory Auditor), For and on behalf of Brooking Ruse, 2 Stafford Place, Weston-super-Mare, Somerset, BS23 2QZ. DIT.RW.8569 Page 8 ## **READING GOSPEL HALL TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5[TH] APRIL 2021** **----- Start of picture text -----**
Year to 05.04.2021 Year to
ALL ITEMS RELATE TO UNRESTRICTED General Designated 05.04.2020
FUNDS Fund Fund Total Total
**----- End of picture text -----**
||£|£|£|£| |---|---|---|---|---| |**INCOME FROM**||||| |Company Donations|133,560||133,560|86,000| |Contributions from the Congregation|84,000|20,048|104,048|87,000| |Gift-Aid Donations|41,955||41,955|25,995| |Income Tax Repayable|11,389||11,389|6,499| |Other Donations and Sundry|1,511||1,511|2,470| |Payroll Giving|1,485||1,485|1,590| |Gifts Received from Other Trusts|0|8,377|8,377|45,000| |Bank Interest Received|187||187|1,075| ||**____________**|**____________**|**____________**|**____________**| |**TOTAL INCOMING RESOURCES**|274,087|28,425|302,512|255,629| ||**____________**|**____________**|**____________**|**____________**| |**EXPENDITURE ON**||||| |**MEETING HALL RUNNING COSTS**||||| |Rates and Water|763||763|(876 )| |Light and Heat|13,243||13,243|17,722| |Repairs and Maintenance|1,153||1,153|8,100| |Maintenance of Grounds|4,826||4,826|8,747| |Cleaning and Consumables|1,128||1,128|7,046| |Telephone and Broadband|531||531|516| |Insurance|2,835||2,835|2,711| |Health and Safety Costs|4,147||4,147|2,765| |Professional Expenses|35||35|1,200| |Sundry|60||60|309| |Depreciation|235,957||235,957|254,913| ||**____________**|**____________**|**____________**|**____________**| ||264,678||264,678|303,153| |**OTHER CHARITABLE ACTIVITIES**||||| |Congregation Support|0|26,623|26,623|0| |Tracts and Publications|75||75|316| |Other Charitable Payments|3,250||3,250|4,360| |Professional Expenses – Future projects|
9,049||9,049|0| |**DONATED SERVICES**|6,657||6,657|16,518| |**DEFICIT ON REALISATION OF INTEREST**|**IN**|||| |**PROPERTY**||||| |In 34 Lodden Bridge Road, Woodley|13,403||13,403|0| |**GOVERNANCE COSTS**||||| |Audit|3,240||3,240|3,240| |Accountancy|3,792||3,792|3,792| |Professional Support Costs|3,420||3,420|1,737| ||**____________**|**____________**|**____________**|**____________**| |**TOTAL RESOURCES EXPENDED**|307,564|26,623|334,187|333,116| ||**____________**|**____________**|**____________**|**____________**| |**NET SURPLUS (DEFICIT) ON**||||| |**INCOMING RESOURCES**|(33,477 )|1,802|(31,675 )|(77,487 )| ||**____________**|**____________**|**____________**|**____________**| The Statement of Financial Activities is continued on the next page. Page 9 ## **READING GOSPEL HALL TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** |General
Fund
£
**NET SURPLUS (DEFICIT) ON**
**INCOMING RESOURCES** B/fwd
(33,477 )
**____________**
**NET MOVEMENT IN FUNDS– **
**SURPLUS(DEFICIT)**
(33,477 )
**____________**
**RECONCILIATION OF FUNDS** – Note 12
**TOTAL FUNDS BROUGHT FORWARD**
8,264,399
**____________**
**TOTAL FUNDS CARRIED FORWARD**
8,230,922
**____________**|Year to 05.04.2021
Year to
Designated
05.04.2020
Fund
Total
Total
£
£
£

1,802
(31,675 )
(77,487 )
**____________**
**____________**
**____________**

1,802
(31,675 )
(77,487 )
**____________**
**____________**
**____________**
0
8,264,399
8,341,886
**____________**
**____________**
**____________**
1,802
8,232,724
8,264,399
**____________**
**____________**
**____________**| |---|---| The Notes on Pages 11 to 16 form a part of these Financial Statements. All of the above activities are classed as continuing and there are no gains or losses other than those included above. Page 10 **READING GOSPEL HALL TRUST BALANCE SHEET AS AT 5[TH] APRIL 2021** |||**As at**|**As at**| |---|---|---|---| |||**05.04.21**|**05.04.20**| |||**£**|**£**| |**TANGIBLE FIXED ASSETS**|||| |Freehold Land and Buildings|Note 2|7,230,118|7,457,888| |Fittings, Furniture & Equipment||312,749|388,572| |||**___________**|**___________**| |||7,542,867|7,846,460| |||**___________**|**___________**| |**CURRENT ASSETS**|||| |Debtors|Note 3|11,661|6,746| |Prepayments||3,439|7,406| |Bank Accounts||690,393|418,444| |||**___________**|**___________**| |||705,493|432,596| |||**___________**|**___________**| |**LESS: CURRENT LIABILITIES DUE WITHIN ONE YEAR**|||| |Creditors and Accruals|Note 4|(15,636 )|(14,657 )| |||**___________**|**___________**| |||(15,636 )|(14,657 )| |||**___________**|**___________**| |**NET CURRENT ASSETS**||689,857|417,939| |||**___________**|**___________**| |**NET ASSETS**||8,232,724|8,264,399| |||**___________**|**___________**| |Represented by:-|||| |**RESERVES**|||| |Unrestricted Funds|||| |- General Funds||8,230,922|8,238,209| |- Revaluation Reserve|Note 10|0|26,190| |- Designated Fund||1,802|0| |||**___________**|**___________**| |||8,232,724|8,264,399| |||**___________**|**___________**| The Financial Statements were approved by the Trustees and were signed on their behalf by:- ___________________________________________ Mr. Charles A. White _______________________ Date ___________________________________________ Mr. Howard Tennent _______________________ Date The Notes on Pages 11 to 16 form part of these Financial Statements. Page 11 ## **THE READING GOSPEL HALL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2021** ## 1. **ACCOUNTING POLICIES** ## 1.1 Basis of Financial Statements The Financial Statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their Accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16[th] July 2014, and incorporating update bulletins 1 and 2; and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice. The functional currency of the Charity is Sterling (£). The Charity 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 notes. ## 1.2 Judgements and key sources of estimation uncertainty Critical accounting judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods The critical judgements made by trustees that have a significant effect on the amounts recognised in the financial statements are described below. ## Critical judgement In the course of preparing the financial statements, no judgements have been made in the process of applying the charity's accounting policies, other than those involving estimations, that have had a significant effect on the amounts recognised in the financial statements. Sources of estimation uncertainty - Useful lives of depreciable assets Trustees review their estimate of the useful lives of depreciable assets at each reporting date, based on the expected utility of the assets. Uncertainties in these estimates relate to obsolescence that may change the utility of furniture, fittings and equipment. ## 1.3 Incoming Resources 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 donations 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 the Reading Gospel Hall Trust is considered to be equal to market value which would be paid were the services formally procured. Investment Income is accounted for on a receivable basis. Page 12 **READING GOSPEL HALL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** ## 1. **ACCOUNTING POLICIES (CONTINUED)** ## 1.4 ## Resources Expended Expenditure is included on an accruals 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. ## 1.5 Governance 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. - 1.6 Tangible Fixed Assets and Depreciation Tangible fixed assets are stated at cost less depreciation. Freehold Land is not depreciated. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows:- Freehold Buildings Fittings, Furniture and Equipment As per Note 2c At 20% per annum – (previous to 06.04.17: 25% per annum) on the reducing balance basis. ## 1.7 Taxation The Trust is a registered charity and is not liable to United Kingdom taxation on charitable activities, provided Income falls within the charitable exemptions and is spent on charitable purposes. ## 1.8 Funds The General Unrestricted Fund is free for the Trustees to use for any purpose in furtherance of the Trust’s charitable objects. A Designated Fund has also been established for which relevant figures are stated on page 8. There are no funds restricted to specific purposes. ## 1.9 Going Concern The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. From 18[th] March 2020, the Trust temporarily ceased using the Gospel Halls which is operates, due to the global Covid-19 pandemic, and the general lockdown imposed by the Government. The Trustees do not consider that the Covid-19 pandemic will have any effect on the ability of the Trust to continue as a going concern. Page 13 **READING GOSPEL HALL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** ## 2. **TANGIBLE FIXED ASSETS** (a) These Comprise |(b)
|**COST OR VALUATION**
As at 06.04.2020
Additions in Year
Written back on disposal
**______**
As at 05.04.2021
**______**
**DEPRECIATION**
As at 06.04.2020
Charge for Year
**______**
As at 05.04.2021
**______**
**NET BOOK VALUE**
As at 05.04.2021
**______**
As at 05.04.2020
**______**
**FREEHOLD LAND AND BUILDINGS COMPRISE**:-
Land Registry (L.R.) Title Nos. are as below
As at
06.04.2020
**NET BOOK VALUE**
£
Meeting Hall,Church Lane,
Three Mile Cross, Reading
5,530,266
L.R. Title No: BK 292607
Meeting Hall,269A Nine Mile Ride,
Finchampstead
438,328
L.R. Title No: BK 261557 &
BK 461063
Meeting Hall,97 Oxford Road,
Wokingham
403,588
L.R. Title No: BK 56270
Meeting Hall,Yew Tree Lane
Spencers Wood
440,925
L.R. Title No: BK 473069
Meeting Hall,Victoria Road,
Mortimer
574,781
L.R. Title No: BK 43967
14.85% Share,in
34 Lodden Bridge Road, Woodley
70,000
L.R. Title No: BK 73096
**________________________**
7,457,888
**________________________**|Freehold
Fittings,
Land and
Furniture &
Buildings
Equipment
£
£
7,923,683
723,351
0
2,364
(70,000 )
0
**___________________________________**
7,853,683
725,715
**___________________________________**
465,795
334,779
157,770
78,187
**___________________________________**
623,565
412,966
**___________________________________**
7,320,118
312,749
**___________________________________**
7,457,888
388,572
**___________________________________**
Book Value
Depreciation
of Disposal
for Year
£
£
(122,783)
(11,941)
(10,690)
(7,446)
(4,910)
(70,000 )
0
**___________________________________**
(70,000 )
(157,770)
**___________________________________**|Total
£
8,647,034
2,364
(70,000 )
**____________**
8,579,398
**____________**
800,574
235,957
**____________**
1,036,531
**____________**
7,542,867
**____________**
7,846,460
**____________**
As at
06.04.2021
£
5,407,483
426,387
392,898
433,479
569,871
0
**____________**
7,230,118
**____________**| |---|---|---|---| Page 14 **READING GOSPEL HALL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** ## 2. **TANGIBLE FIXED ASSETS** - c) Depreciation is charged at 3% per annum on the straight line basis on the Cost of Halls acquired and constructed, but excluding on the cost of land. - d) The share held in the equity of 34 Lodden Bridge Road was revalued by the Trustees as at 5[th] April 2019, but was disposed of in the year and the Revaluation Reserve was credited back to General Reserve. - e) Fittings, Furniture and Equipment are depreciated as stated in Note 1.5. |3



4


|**DEBTORS**
These comprise:-

Tax Repayable
Other Debtors
**CREDITORS AND ACCRUALS**
**DUE WITHIN ONE YEAR**
These comprise:-

Creditors
Accruals
Receipt in Advance|**As at**
**05.04.2021**
£
11,414
247
**___________**
11,661
**___________**
**As at**
**05.04.2021**
£
4,377
7,259
4,000
**___________**
15,636
**___________**|**As at**
**05.04.2020**| |---|---|---|---| ||||£
6,499
247
**___________**
6,746
**___________**
**As at**
**05.04.2020**| ||||£
3,511
7,146
4,000
**___________**
14,657
**___________**| ## 5 **TRUSTEES’ REMUNERATION AND EXPENSES** No Trustee received any remuneration or other benefits for services rendered in this year or the preceding year. Expenses incurred were reimbursed, if applicable, at cost with no benefit whatever arising to the recipient. ## 6 **EMPLOYEES AND VOLUNTEERS** The Trust had no employees in this or the preceding year. The Trust relies on volunteers to carry out Management, Administration and certain Maintenance work. |7

8

|**AUDITOR’S FEES**


Fees payable for the audit of the Financial Statements
**DONATED SERVICES AND GIFTS**
These were to another Gospel Hall Trust, with
Parallel objectives, as follows:-


Sarum Hill Gospel Hall Trust|**Year to**
**05.04.2021**
£
3,240
**___________**
**Year to**

**05.04.2021**
£
6,657
**___________**|**Year to**
**05.04.2020**| |---|---|---|---| ||||£
3,240
**___________**
**Year to**
**05.04.2020**| ||||£
16,518
**___________**| Page 15 ## **READING GOSPEL HALL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** |9|**RESOURCES EXPENDED**
**Year to 05.04.2021**
These were:-
**Meeting Hall**
**Other**
**Running**
**Charitable**
**Costs**
**Activities**
**Total**
£
£
£
Direct Costs
264,678
45,654
310,332
Support Costs
2,800
620
3,420
Governance Costs
5,752
1,280
7,032
Deficit on Realisation
of Interest in Property
0
13,403
13,403
**_____________________________________________________________**
273,230
60,957
334,187
**_____________________________________________________________**|**Year to**
**05.04.2020**
£
324,347
1,737
7,032
0
**__________**
333,116
**__________**| |---|---|---| ## 10 **REVALUATION RESERVE** Following the Revaluation of the share held in the equity of 34 Lodden Bridge Road, Woodley, as at 5[th] April 2019, a Revaluation Reserve of £26,190 was created. Following the disposal of this asset in the year to 5[th] April 2021, the Revaluation Reserve has been credited to General Reserves. ## 11 **ANALYSIS OF NET ASSETS BETWEEN FUNDS** ||General||| |---|---|---|---| ||Unrestricted|Designated|Total| ||Fund|Fund|Funds| |**AS AT 05.04.2021**|£|£|£| |Tangible Fixed Assets|7,542,867|0|7,542,867| |Current Assets|702,191|3,302|705,493| |Current Liabilities|(14,136 )|(1,500 )|(15,636)| ||**_________________________________________________________**||| |Total Funds|8,230,922|1,802|8,232,724| ||**__________________________________________________________**||| |**AS AT 05.04.2020**|||| |Tangible Fixed Assets|7,846,460||7,846,460| |Current Assets|432,596||432,596| |Current Liabilities|(14,657 )||(14,657)| ||**___________**||**___________**| |Total Funds|8,264,399||8,264,399| ||**___________**||**___________**| There were No Designated Funds at 5[th] April 2020. There were No Restricted Funds at any time in the 2 Years to 5[th] April 2021. Page 16 ## **READING GOSPEL HALL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2021 (CONTINUED)** **----- Start of picture text -----**
12 MOVEMENTS IN FUNDS Opening Incoming Resources Closing
Year Ended 05.04.2021 Balance Resources Expended Transfers Balance
**----- End of picture text -----**
||**£**
**£**
**£**
**£**
**£**
Unrestricted Funds
General Funds
8,238,209
274,087
(307,564 )
26,190
8,230,922
Revaluation Reserve
26,190
0
0
(26,190 )
0
Designated Fund
0
28,425
(26,623 )
0
1,802
**________________________________________________________________________**
Total Funds
8,264,399
302,512
(334,187 )
0
8,232,724
**________________________________________________________________________**
**Year Ended 05.04.2020**
Unrestricted Funds
General Funds
8,315,696
255,629
(333,116 )
0
8,238,209
Revaluation Reserve
26,190
0
0
0
26,190
**________________________________________________________________________**
Total Funds
8,341,886
255,629
(333,116 )
0
8,264,399
**________________________________________________________________________**| |---|---| ## 13 **POST BALANCE SHEET EVENTS AND CAPITAL COMMITMENTS** No significant Post Balance Sheet Events have arisen to the date of approval of these Accounts, and no significant Capital Commitments have been entered into. It is intended to continue action to pursue the location of sites for potential further Local Halls. It is also envisaged that in due course, Halls owned other than that at Church Lane, Three Mile Cross, will be proposed for transfer to the Sarum Hill Gospel Hall Trust, which has parallel objectives in the Reading area. ## 14 **RELATED PARTY TRANSACTIONS** The following transactions took place:- |he following transactions took place:-

(a) With Redlands Construction Limited, a company in
which two of the Trustees are Directors
- For preliminary professional costs towards Meeting Halls
(b) Donations were received from Trustees and from
parties connected thereto, in the followings totals:|**Year to**
**05.04.2021**
£
3,000
_________
95,687
_________|**Year to**
**05.04.2020**
£
0
_________
71,119
_________| |---|---|---| (c) Food vouchers were purchased from Zest Trading U.K. Limited for distribution from the Emergency Needs Fund. The profits and distributable reserves of that company may, by its constitution, only be made available, wholly and exclusively, to the Ealing Educational Resources Trust, a Charitable Trust providing Education needs in the Reading area. One of the Trustees of Reading Gospel Hall Trust has significant control over Zest Trading U.K. Limited and three close family members of Trustees are Directors of that company. 26,323 0 _________ _________ 0