Charity Registration No: 1159954
READING GOSPEL HALL TRUST Report of the Trustees and Audited Financial Statements Year Ended 5[th] April 2022
READING GOSPEL HALL TRUST YEAR ENDED 5[TH] APRIL 2022
| 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 |
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Page 1
READING GOSPEL HALL TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 5[TH] APRIL 2022
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 2022
The Trustees present their Report along with the Financial Statements of the Charity for the Year Ended 5[th] April 2022. 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 2022 (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 coronavirus 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 main hall and visitors are free to help themselves.
With the commencement of lockdown restrictions in the U.K. the Trust ceased using its Gospel Halls. During this year restrictions were eased sufficiently to allow the congregation to use the Gospel Halls for the Lord’s Supper (Communion) for a part of the time. Such use was conducted in a manner complying with Government guidance, and the Trust intends to continue using the Halls as it is safe to do so. This has amended for the time being the 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 food packs to a value of £1,345 have been made available to organisations to assist the homeless and poor. Congregation members have also assisted another charity, the Rapid Relief Team, with support to the Ukraine; and also have provided care packs or hot food to the Police, Ambulance and Fire Services on respective occasions; and family food boxes to Primary Schools on three occasions. A full Public Benefit Report is attached.
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:-
- 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 2022 (CONTINUED)
Spreading the Gospel message and the life of a Christian (Continued)
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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).
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 2022 the Trust had a surplus amounting to £66,362 of Incoming Resources against Resources Expended on General Fund (after Depreciation charged of £220,531); and a deficit of £2,352 on the Designated Fund. Total voluntary Income received this Year was £320,561 compared to £302,325 in the Year to 5[th] April 2021. Monies held on Bank Accounts at the year end totalled £951,005.
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 £973,340.
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.
As stated under “Meetings”, the Trust intends to continue using the Halls, as conditions permit. 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 2022 (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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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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 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 2022
Opinion
We have audited the financial statements of Reading Gospel Hall Trust for the year ended 5[th] April 2022 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:
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give a true and fair view of the state of the Charity’s affairs as at 5[th] April 2022 and of its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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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 2022 (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:
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sufficient accounting records have not been kept;
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the financial statements are not in agreement with the accounting records and returns; or
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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 matters 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 2022
| ALL ITEMS RELATE TO UNRESTRICTED General FUNDS Fund £ INCOME FROM Company Donations 151,560 Contributions from the Congregation 84,000 Gift-Aid Donations 64,005 Income Tax Repayable 16,001 Other Donations and Sundry 1,713 Payroll Giving 1,482 Gifts Received from Other Trusts 0 Bank Interest Received 103 Overage Receipt – previous property sale 29,411 __ TOTAL INCOMING RESOURCES 348,275 _ EXPENDITURE ON MEETING HALL RUNNING COSTS Rates and Water (532 ) Light and Heat 12,953 Repairs and Maintenance 13,477 Maintenance of Grounds 6,154 Cleaning and Consumables 1,854 Telephone and Broadband 596 Insurance 3,389 Health and Safety Costs 1,383 Professional Expenses 35 Sundry 60 Depreciation 220,531 _ 259,900 OTHER CHARITABLE ACTIVITIES Congregation Support 0 Tracts and Publications 0 Other Charitable Payments 4,843 Professional Expenses – Future projects 0 DONATED SERVICES 5,674 DEFICIT ON REALISATION OF INTEREST IN PROPERTY In 34 Lodden Bridge Road, Woodley 0 GOVERNANCE COSTS Audit 3,480 Accountancy 4,596 Professional Support Costs 3,420 __ TOTAL RESOURCES EXPENDED 281,913 _ NET SURPLUS (DEFICIT) ON INCOMING RESOURCES 66,362 _ |
Year to 05.04.2022 Year to Designated 05.04.2021 Fund Total Total £ £ £ 151,560 133,560 84,000 104,048 64,005 41,955 16,001 11,389 1,713 1,511 1,482 1,485 1,800 1,800 8,377 103 187 29,411 0 __ _ _ 1,800 350,075 302,512 __ _ _ (532 ) 763 12,953 13,243 13,477 1,153 6,154 4,826 1,854 1,128 596 531 3,389 2,835 1,383 4,147 35 35 60 60 220,531 235,957 __ _ _ 259,900 264,678 4,152 4,152 26,623 0 75 4,843 3,250 0 9,049 5,674 6,657 0 13,403 3,480 3,240 4,596 3,792 3,420 3,420 __ _ _ 4,152 286,065 334,187 __ _ _ (2,352 ) 64,010 (31,675 ) __ _ _ |
|---|---|
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 2022 (CONTINUED)
| General Fund £ NET SURPLUS (DEFICIT) ON INCOMING RESOURCESB/fwd 66,362 __ NET MOVEMENT IN FUNDS– SURPLUS(DEFICIT) 66,362 _ RECONCILIATION OF FUNDS – Note TOTAL FUNDS BROUGHT FORWARD 8,230,922 ___ TOTAL FUNDS CARRIED FORWARD 8,297,284 ______ |
Year to 05.04.2022 Year to Designated 05.04.2021 Fund Total Total £ £ £ (2,352 ) 64,010 (31,675 ) __ _ _ (2,352 ) 64,010 (31,675 ) __ _ _ 1,802 8,232,724 8,264,399 __ _ _ (550 ) 8,296,734 8,232,724 __ _ _ |
|---|---|
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 2022
| As at | As at | ||
|---|---|---|---|
| 05.04.22 | 05.04.21 | ||
| £ | £ | ||
| TANGIBLE FIXED ASSETS | |||
| Freehold Land and Buildings | Note 2 | 7,072,348 | 7,230,118 |
| Fittings, Furniture & Equipment | 251,046 | 312,749 | |
| _____ | _____ | ||
| 7,323,394 | 7,542,867 | ||
| _____ | _____ | ||
| CURRENT ASSETS | |||
| Debtors and Prepayments | Note 3 | 34,906 | 15,100 |
| Bank Accounts | 951,005 | 690,393 | |
| _____ | _____ | ||
| 985,911 | 705,493 | ||
| _____ | _____ | ||
| LESS: CURRENT LIABILITIES DUE WITHIN ONE YEAR | |||
| Creditors and Accruals | Note 4 | (12,571 ) | (15,636 ) |
| _____ | _____ | ||
| (12,571 ) | (15,636 ) | ||
| _____ | _____ | ||
| NET CURRENT ASSETS | 973,340 | 689,857 | |
| _____ | _____ | ||
| NET ASSETS | 8,296,734 | 8,232,724 | |
| _____ | _____ | ||
| Represented by:- | |||
| RESERVES | |||
| Unrestricted Funds | |||
| - General Funds | 8,297,284 | 8,230,922 | |
| - Designated Fund | (550 ) | 1,802 | |
| _____ | _____ | ||
| 8,296,734 | 8,232,724 | ||
| _____ | _____ |
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 2022
1. ACCOUNTING POLICIES
1.1 Basis of Financial Statements
The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: Second edition of the 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 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 judgements
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 2022 (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 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.
1.6 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 As per Note 2c Fittings, Furniture and Equipment 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 pages 8 and 9. 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.
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 2022 (CONTINUED)
2. TANGIBLE FIXED ASSETS
(a) These Comprise
| 2. (a) |
TANGIBLE FIXED ASSETS These Comprise |
||
|---|---|---|---|
| (b) |
COST OR VALUATION As at 06.04.2021 Additions in Year __ As at 05.04.2022 _ DEPRECIATION As at 06.04.2021 Charge for Year As at 05.04.2022 NET BOOK VALUE As at 05.04.2022 As at 05.04.2021 FREEHOLD LAND AND BUILDINGS COMPRISE:- Land Registry (L.R.) Title Nos. are as below NET BOOK VALUE Meeting Hall,Church Lane, Three Mile Cross, Reading L.R. Title No: BK 292607 Meeting Hall,269A Nine Mile Ride, Finchampstead L.R. Title No: BK 261557 & BK 461063 Meeting Hall,97 Oxford Road, Wokingham L.R. Title No: BK 56270 Meeting Hall,Yew Tree Lane Spencers Wood L.R. Title No: BK 473069 Meeting Hall,Victoria Road, Mortimer L.R. Title No: BK 43967 _ ____ |
Freehold Fittings, Land and Furniture & Buildings Equipment £ £ 7,853,683 725,715 0 1,058 _____ 7,853,683 726,773 _____ 623,565 412,966 157,770 62,761 _____ 781,335 475,727 _____ 7,072,348 251,046 _____ 7,230,118 312,749 _____ As at Depreciation 06.04.2021 for Year £ £ 5,407,483 (122,783) 426,387 (11,941) 392,898 (10,690) 433,479 (7,446) 569,871 (4,910) _____ 7,230,118 (157,770) _____ |
Total £ 8,579,398 1,058 __ 8,580,456 _ 1,036,531 220,531 _ 1,257,062 __ 7,323,394 _ 7,542,867 _ As at 06.04.2022 |
| £ 5,284,700 414,446 382,208 426,033 564,961 ___ 7,072,348 _____ |
Page 14
READING GOSPEL HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2022 (CONTINUED)
2. TANGIBLE FIXED ASSETS
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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.
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d) Fittings, Furniture and Equipment are depreciated as stated in Note 1.6.
| 3 4 |
DEBTORS AND PREPAYMENTS These comprise:- Debtor - Tax Repayable Other Debtors Prepayment – Costs for Potential Hall Other Prepayments CREDITORS AND ACCRUALS DUE WITHIN ONE YEAR These comprise:- Creditors Accruals Receipt in Advance |
As at 05.04.2022 £ 15,922 123 16,126 2,735 __ 34,906 _ As at 05.04.2022 £ 1,299 7,272 4,000 __ 12,571 _ |
As at 05.04.2021 |
|---|---|---|---|
| £ 11,414 247 0 3,439 __ 15,100 __ As at 05.04.2021 |
|||
| £ 4,377 7,259 4,000 __ 15,636 __ |
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 05.04.2022 £ 3,480 __ Year to 05.04.2022 £ 5,674 __ |
Year to 05.04.2021 |
|---|---|---|---|
| £ 3,240 _____ Year to 05.04.2021 |
|||
| £ 6,657 _____ |
Page 15
READING GOSPEL HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2022 (CONTINUED)
| 9 | RESOURCES EXPENDED Year to 05.04.2022 These were:- Meeting Hall Other Running Charitable Costs Activities Total £ £ £ Direct Costs 259,900 14,669 274,569 Support Costs 3,240 180 3,420 Governance Costs 7,646 430 8,076 Deficit on Realisation of Interest in Property 0 0 0 _________ 270,786 15,279 286,065 ___________ |
Year to 05.04.2021 |
|---|---|---|
| £ 310,332 3,420 7,032 13,403 _ 334,187 _ |
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| General | |||
|---|---|---|---|
| Unrestricted | Designated | Total | |
| Fund | Fund | Funds | |
| AS AT 05.04.2022 | £ | £ | £ |
| Tangible Fixed Assets | 7,323,394 | 0 | 7,323,394 |
| Current Assets | 985,911 | 0 | 985,911 |
| Current Liabilities | (12,021 ) | (550 ) | (12,571) |
| _________ | |||
| Total Funds | 8,297,284 | (550 ) | 8,296,734 |
| __________ | |||
| 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 |
| __________ |
There were No Restricted Funds at any time in the 2 Years to 5[th] April 2022. The deficit on the Designated Fund has been met by a specific receipt of monies in 2022/2023.
Page 16
READING GOSPEL HALL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2022 (CONTINUED)
| 12 | MOVEMENTS IN FUNDS Opening Year Ended 05.04.2022 Balance £ Unrestricted Funds General Funds 8,230,922 Designated Fund 1,802 __ Total Funds 8,232,724 __ Year Ended 05.04.2021 Unrestricted Funds General Funds 8,238,209 Revaluation Reserve 26,190 Designated Fund 0 __ Total Funds 8,264,399 __ |
Incoming Resources £ 348,275 1,800 __ 350,075 __ 274,087 0 28,425 __ 302,512 __ |
Resources Expended £ (281,913 ) (4,152 ) __ (286,065 ) __ (307,564 ) 0 (26,623 ) __ (334,187 ) __ |
Transfers £ 0 0 __ 0 __ 26,190 (26,190 ) 0 __ 0 __ |
Closing Balance £ 8,297,284 (550 ) __ 8,296,734 _ 8,230,922 0 1,802 ___ 8,232,724 ______ |
|---|---|---|---|---|---|
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:- (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 05.04.2022 £ 12,000 _ 118,781 _ |
Year to 05.04.2021 £ 3,000 _ 95,687 _ |
|---|---|---|