Charity Registration No: 1159954 READING GOSPEL HALL TRUST ort of the Trustees and Audited Financial Statements th Year Ended 5 A ril 2024
READING GOSPEL HALL TRUST TH YEAR ENDED 5 APRIL 2024 CONTENTS Pages Relerence and administrative details Report of the Trustees Auditor'5 Report Statement of Financial Activities 9-10 Balance Sheet li Statement of Cash Flows 12 Notes to the Financia5 statements 13-18
Page I READING GOSPEL HALL TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 5 APRIL 2024 Tkl These are as below:_ Charit name Reading Gospel Hall Trust Re istered chari number 1159954 Trustees Richard James Hearn Roger David Humphreys Andrew Keith Parsons (Chairl resigned 20.11.2023 Howard Tennent Charles Andrew White Evan Lindsell (Chairl appointed 20.11.2023 Treasurer Charles Andrew White Princi al address C/0 Charles Andrew White, 62 Wokingham Road, Crowthorne. 8racknell, 8erkshire, RG45 7QA. Atcountant Keith F. Pavey, Broadoak Accounting Services, 6 The Oaks. Wembdon Rise, Bridgwater, Somerset, TA6 7QL. Auditor Penelope Bowden ACA, BA Hons, Riverside Accountancy, Second Floor, 26 St. Georges Quay, Lancaster, Lancashire, LAI IRD. Bankers Lloyds Bank, Broad Street, Reading, Berkshire, RGI 2BT.
Page 2 READING GOSPEL HALL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 TH The Trustees present their Report along with the Financial Statements of the Charity for the Year Ended th 5 April 2024. The Financial Statements have been prepared in accordance with the accounting policies set out on pages 13 - 14 and comply with the Trust Deed and applicable law. Structure Governance and Mana ement Governin Document The Charity is controlled by a Deed of Trust, and constitute5 an Unincorporated Charity. Reading Gospel Hall Trust is constituted by a Deed of Trust dated 10 ' February 1980. Subsequent amendin8 Deeds, and most recently by a Deed of Variation dated 28 February 2014. The Trust was th registered with the Charity Commission for England and Wales on 15 January 2015 under Charity Registration Number- 1159954. Recruitment and A ointment of New Trustees The Trustees who have served during the year and since the year end are set out on page l. None of the Trustee5. 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 three 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 incorning 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 ils congregation. Risk Mana ement The Trustee5 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 risl(s. Ob"ectives and activitie5 Ob ectives and aims The charitable purposes of the Charity are the advancement of the Christian religion for the public benefit, including by the carryin8 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 Cliristian Church {the 'Brethren"l 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 Iwo schedules to the Trust Deed. Public benef it 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 TH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED Main Activities and achievements The Trust provides 3 Gospel Halls where religious meetings are held by the local Brethren community. Details of the origins, teachings and way of life of the Brethren can be found on their website www. I mouthbrethrenchri5tia nchurch.or and in the schedules to the Trust Deed. The Trust's main achievements this year have been to maintain the Gospel Halls for the continuing use of the congregation and visitors. It has also encouraged worl(s by the congregation, as described below. It ha5 also donated funds to Sarum Hill Gospel Hall Trust in the year, enabling that Charity to purchase two properties costing together £1,442,568 for further intended Gospel Halls. It has also contributed to the running costs and other costs of halls owned by that Charity, which has parallel objectives. Meetin Meetings normally held at the Gospel halls include the Lord'5 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 675 people normally attend these occasions. The meetings are attended by the regular congregation and most are open to other properly disposed visitors. The notice bDard outside the Hall welcomes vi51tors and displays times of Gospel preachings, along with a telephone number for those seeking further information or help. Gospel tract5. which are distributed by street preacher5, 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 themselve5. readin the Gos el messa e and the life of a Christian The Gospel Halls are a base from which the regular congregation and others who attend the meetin8S are encouraged to spread the Christian Gospel, in word and deed. Members of the cangregation normally participate in a prograrnme 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 have tal<en place weel(ly, with several preachings during the week. In addition food packs to a value of £2,570 have been made available to organi5ations to assist the homele55 and poor. Congregation members have also assisted a separate charity, the Rapid Relief Team, which included support to the Ukraine- providing meals and food boxe5 to local organisations; and ongoing support at numerous events in the area. A full Public Benefit Report 15 attached and activities are jointly with the Sarum Hill Gospel Hall Trust. In carrying out this work, the congregation consider5 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 Scripture11 Tim 2:21 We regularly go out from our homes to preach on the street5, 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 Jesu5 Christ. (2 Tim 4.21. We seek as members of the public to lead Christièn lives as husbands and wives, parents, children, employers, employees and neighbours. (Col 3..22-25, Col 4:11- The preservation and protection of the family unit is fundamental and children are prized as a blessing from God. (Psalm 127-3-51. Tlie elderly are valued members of the community, for whom both their family and the wider community are expected to care.
Page 4 READING GOSPEL HALL TRUST TH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED readin the Gos el mess3 e and the life of a Christian Continued Holy Scripture commands us to be good neighbours to others, and deal with all other people lincluding former 8rethrenl openly, honestly and fairly and consistent with these principles, we should give our time, talents and money to assisl those in need in the wider community, in so far as reasonable given our abilities and our available resources. l Matt 7.'12, Matt 22.39, Eph 4.281. 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. Fundin Funding is sought through 8ifts and donations from the congregation. Grants are sometimes received from other charitable trusts with complementary objectives. Gift aid is also claimed on releva nt gifts. Financial review As stated on Page 3. funds were donated to Sarum Hill Gospel Hall Trust in the year to enable that Charity to purchase two propertie5 Costing together £1,442,568 for intended Gospel Halls. It has also contributed to the running and other costs of that Charity. which has parallel objectives. In consequence in 202312024, the Trust had a deficit amounting to £1,063,408 of Incoming Resources against Resources Expended on General Fund (after Depreciation charged of £172,297). Monies held on Bank Accounts at the year end totalled £275,833. All Funds held were Unrestricted Funds. Reserves olic 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 rai5inE further fund5 by way of donations and colleclions, and if necessary loans, in order to fund intended projects, and to facilitate repayment of existing lending. The congregation is l<ept regularly informed of needs accordingly. Free reserves at the year end were £246,529. Plans for Future Period5 The Trust plans to continue action to pursue the location of sites for potential further Local H3115. It t5 also envisaged that in due course, a further Local Hall will be transferred to Sarum Hill Gospel Hall Trust. The Trust is also committed to assisting the Sarum Hill Gospel Hall Trust with the donation of substantial monies to permit that Trust to acquire further Properly for the provision of a Gospel Hall in 202412025 expected to C05t in the region of £350,000; and to adapt a Property already acquired by the Trust. Subject to these matters, the Trustees plan to continue all the current activities. Despite the increased cost of energy and other overheads, the Trustees feel that such increased costs are not sufficiently impacting on the ability of the charity to continue as a goin8 concem.
Page 5 READING GOSPEL HALL TRUST TH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED Statement of Trustees, Res onsibilities The Trustees are responsible for preparin8 the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Accountin8 Standards Iunited Kingdom Generallv Accepted Accounting Practicel. The law applicable to charities in England and Wales. the Charities Act 2011, Charity (Accounts and Reports) Regulations and the provision5 of the Trust Deed require the Trustees to prepare Financial Staternent5 for each f inancial year which give a true and fair view of the State of affair5 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 Statement5, 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 15 inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keepinE proper accounting records which disclose with reasonable accuracy at any time the f inancial position of the Charity and to enable them to ensure that the Financial Statements comply with the Charitie5 Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Trust Deed. They are also responsible for safeguardin8 the assels 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 twa Trustees. On behalf of the board: Trustee Date:
Page 6 INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF READING GOSPEL HALL TRUST TH FOR THE YEAR ENDED 5 APRIL 2024 Opinion We have audited the financial Statements of Reading Gospel Hall Trust{the 'charity'} forthe year ended 5 April 2024 which comprise Statement of financial position. Statement of financial actwities, cash'flow statement and notes to the financial slatements, including Significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includin8 Financial Reporting Standard 102 The Financial Reporting 5tandord Gpplicable in the UK and Republic of Irelond (United Kingdom Generally Accepted Accounting Pratticel. In our opinion the financia5 statements.. give a true and fairview of the state of the ch3ritVs affair5 & at 5 April 2024 and of its incoming re- sources and application of resources, including its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Actounting Prac- tice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUK} IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilitie5 for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethirdl 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 eviden 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 trustee5' 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 uncertaintie5 relating to events or condition5 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 other information comprises the information included in the trustees, annual report, other than Ihe financial statements Bnd our auditoHs report thereon. The trustees are responsible for the other information. Our opinion on the financial statement5 does not cover the otlier information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other infomiation is materially incon515tent with the financial statements or our knowledge obtained in the course of the audit or otheiSe appears to be materially misstated. If we identify such material inconsistencie5 or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude thatthere is a matrrial misstatement of this other information, we are required to report that fact. We have nothing to report In this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charilies (Accounts and Reports) Regulations 2008 require us to report to you if, in our opiniDn: the information given in the trustees, report is inconsistent in any material respect with the financial statements,. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records,. or we have not received all the information and explanations we require for our audit.
Page 7 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF READING GOSPEL HALL TRUST TH FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 6. the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fairview. and for such internal control as the trustees determine is nece55ary to enable the preparation of financial statements that are free from rnaterial mi55Latement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitV5 ability to continue as a going concern, disclosing, as applicable, matters related to Eoing concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operation5, or have no realistic alternative but to do so. Auditor responsibilities for the audit of the financi31 statements We have been appointed as auditor under section 144 of the Charities Act 201] and report in accord3nce with the Act and relevant regulations made or having effect thereunder. Our objecttves 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 auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audil conducted in accordance with ISAS (UK) wi15 always detect a material misstatement when it exists. Mi55t3tement5 can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis af these financial statements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Review of trustee5 minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and law5 the charity must follow in the year and to the date of signing the financial statements. The assessment of fraud was consider 35 low due to the segregation of duties seen. A review Of journal entries and consideration of their appropriatene55 was carried out through the audit. During the audit we speak to trustees, test the systems and speak to various rnembers of the fi- nance function to understand the entity its proLesses and the nature of trade to a55i5t in deter- mining if the financial statements are true and fair. Challenging assumptions made by management in rnaking their signif icant accounting estimates. Reviewing financial statement disclosure and testin8 to supporting docurnÈntation to asses5 com- pliance with applicable law5 and regulations. Legacies and Donation5 are reviewed to ensure no restriction on funds are required to be allo- cated differently from the common funds. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a niaterial misstatement in the financial statements or non-compliance with regulation. This risk increases the rnore that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The ris1< is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment. forgery. collusion. omission or misrepresentation.
Page 8 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF READING GOSPEL HALL TRUST IH FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identrfy and assess the risks of material misstatement of the financial statements, whether due to fraud orerror, design and perform audit procedures respon5tve to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstate- ment resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, for- gery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effective- ness of the charitt15 internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting esti- mates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and. based on the audit evidence obtained, whethera material uncertainty exists related to events or conditions that may cast significant doubt on the charlS ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in ourauditorfs report to the related dis- closures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of ourauditorfs report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the discl sures, and whetherthe financial statements represent the underiying transactions and events in a man- ner that achieves fair presentation lie. gives a true and fair view). We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charivs trustees, as a body, in accordance with Part 4 of the Chartties IAccounts and Reports) Regulation5 2008. Our audit work has been undertaken so that we might state to the chariV5 trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilityto anyone other than the charity and the charivs trustees as a body, for our audit work. for this report, or for the opinions we have formed. en ACA For n on behalf of River5ideAccountonry Lancaster Limited CharteredAccountonts & StotutoryAuditor Second Floor Riverside Offices 265t Georges Quay Lancoster LAI IRD Date: l.s..1.i ! IILb................................................
Page 9 READING GOSPEL HALL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5- APRIL 2024 ALL ITEMS RELATE TO uNRESTRIEO FUNDS Yearto 05.04.2024 Year to 05.04.2023 INCOME FROM Company Donations Contributions from the Congregation Gift-Aid Donations Income Tax Repayable Other Donations and Sundry Payroll Giving Legacy Ba nk Interest Received Surplus on Di5P05al of Property 395,778 115,665 131,2dl 32,810 1,610 1,477 5,079 13,213 152,460 99,000 57,870 14,468 1,295 1,477 2,755 101,798 TOTAL INCOMING RESOURCES 696,873 431,123 EXPENDITURE ON MEETING HALL RUNNING COSTS Rates and Water Light and Heat Repairs and Maintenance Maintenance of Grounds Cleaning and Consumables Telephone and Broadband Insurance Health and safety Costs Professional Expenses Equipment Hire Sundry Depreciation 280 20,539 24,358 6,702 6.545 1.881 4,239 13,1911 485 305 16,248 19.276 6,943 5,217 947 3,605 5,900 35 834 282 180,941 364 172,297 Note 1.6 234,499 240,533 OTHER CHARITABLE ACTIVITIES Congregation Covid Test Kits Congregation Support Tracts and Publications Other Charitable Payments Professional Expense5- Potential projects DONATED SERVICES TO SARUM HILL GOSPEL HALL TRUST 11,152 14,753 300 135 5,449 20,546 671 5,570 Note 8 Special Grant to meet the Trust's objectives other Services 1.442,568 50,149 1,496,659 32,564 GOVERNANCE COST5 Audit Accountancy and Book-keeping Professional Support Costs 3,504 7.960 4,208 3,540 7.685 5.976 TOTAL RESOURCES EXPENDED Note 9 1.760,281 1,828,140 NET DEFICIT ON INCOMING RESOURCES 11,063,408) 11.397,0171 The Statement of Financial Activities is continued on the next page.
Page 10 READING GOSPEL HALL TRUST STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 5 APRIL 2024ICONTINUED TH Year to 05.04.2024 Yearto 05.04.2023 NET DEFICIT ON INCOMING RESOURCES Blfwd 11,063.4081 11,397,017) NET MOVEMENT IN FUNDS- DEFICIT 11,063,408) 11,397,017} RECONCILIATION OF FUNDS - Note 12 TOTAL FUNDS BROUGHT FORWARD 6,899,717 8.296,734 TOTAL FUNDS CARRIED FORWARD 5,836,309 6,899,717 The Notes on Pages 13 to 18 form a part of these Financial Statements. All of the above activities are classed a5 continuing. There are no gains or losses other than those included above.
11 READING GOSPEL HALL TRUST 8AL4NCE SHEET AS AT 5 APRIL 2024 A$3t 05.04.2024 Asat 05.04.2023 TANGIBLE FIXED ASSETS r.reehold Land aiid Building5 Filtin8s, r-lirniliire & Equipnient Note 2 5,44U,872 148.908 5,564,422 184,864 5,589,780 5,749,286 CURRENT ASSErs Dpbtors and PrepaymÈnts Ban1( Ac¢oiiiits NolL$ 3 38,373 275,833 21,2E6 1,147,787 314,206 1,169,073 LESS.. CURRENIT LIABILITIE5 DUE WITHIN ONE YEAR Ci'edilurs and Acci'vals Noto 4 167,6771 116,6421 167,6771 118,6421 NET CURRENT ASSETS 246,529 1.150.431 NET ASSETS 5.1136,S09 6,899,717 Rcpresented bv: FUND5- UNRESTRICTED FUNDS Openiiig Balance Nel DefiLIt foT ihe Year 6.899,717 8,296,734 11,063,408) 11,397,a171 Closln Balaiice 5.836,309 6.899.717 Tl)e Finoiicial Stateoient5 wèrp. Approved by the Trustees and were sl8ned on their behalf by: /IJLIi, Mr. Cl)arle5 A. White Dale Mr. Howard TennÈnt Tho Nolo5 on PaEes 13 to iu form part of these Fln*inrial Statements.
Page 12 READING GOSPEL HALL TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024 TH Year to 05.04.2024 Year to 05.04.2023 CASH FLOWS FROM OPERATING ACTIVITIE5 Net Expenditure for the Ye3r Per the Statement of Financial Activities 11,063.4081 11,397,017) Adjustments for;. Depreciation Surplus on Disposal of Property Note 2 172,297 180,941 1101,7981 Ilncreasel/Decrease in Debtors and Prepayments Increase in Creditors and Accruals 117,0871 49.035 13.620 6,071 Net Cash Outflow from O eratin Activities {859,1631 {1,298,1831 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from the Sale of Property 1,496,659 Purchase of TanEible Fixed Assets Note 2 112,7911 (1,6941 Net Cash Provided Used in Investin Activities {12,7911 1,494,965 NET INCREASE DECREASE IN CASH AND CASH E UIVALENTS 1871,9541 196,782 CASH AND CASH E IVALENTS AT BEGINNING OF YEAR 1,147,787 951,005 CASH AND CASH E UIVALENTS AT END OF YEAR 275,833 1,147,787 The Notes on Pages 13 to 18 form part of these Financial Statements.
Page 13 THE READING GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 TH ACCOUNTING POLICIES Basis of Financial Statement5 The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: Second edition of the Statement of Recornmended Practice applicable to charities preparing their Accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IreSand IFRS 1021 issued in October 2019- the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and UK Generally Accepted Practice. The functional currency of the Charity is Sterling l£}. The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initiallv recoEnised at historical cost or transaction value unless Otherwise 5tBted in the relevant accounting policy notes. Jud ements and ke Critica l accountin sources of estimation uncertaint ements and ke sources of estimation uncertain In the application of the charity's accountin8 policie5, trustees are required to make judgements, estimates and assumption5 about the carrying values of asset5 and liabilitie5 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 trustee5 that have a significant effect on the amounts recognised in the financial statements are described below. Critica l ud ements In the course of preparing the financial statement5, no judgements have been m3de 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. Incomin Resources Donations are recognised in the Year in which there is entitlement and probability of receipt and the amounl can be measured with reasonable certainty. Income is only deferred when the Charity has to fulf il 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 45 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 con51dered to be equal to marl<et value which would be paid were the services formally procvred. Investment Income is accoui)ted for on a receivable basis.
Page 14 READING GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 TH CONTINUED ACCOUNTING POLICIES CONTINUED Resources Ex ended Expenditure is included on an accrua15 basi5. Liabilities are recognised 3s 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. Governance and Su ort costs Support cost5 have been allocated between governance costs and other support costs. Governance costs comprise all cost5 involving the public accountability of the Charity and costs related to statutory requirements. Governance and support cost5 are allocated to charitable activities on the basis of capacity used. Tan ible Fixed Assets and De reciation 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. le55 estimated residual value, of each asset over it5 expected useful life as follows'.- Freehold Buildings Fittings, Furniture and Equipment As per Note 2c At 20% reducing balance per annum Taxation The Trust 15 3 registered cha rity and is not liable to United Kingdom taxation on charitable activities, provided Income falls Wlthin the charitable exemptions and is spent on charitable purposes. Funds The General Unrestricted Fund is free for the Trustees to use for any purpose in furtherance of the Trust'5 charitable objects. There were no funds restricted to specific purposes. 1.9 Goin Concern The Trustees consider that there are no material uncertainties about the cha rity'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.
Page 15 READING GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 TH CONTINUED TANGIBLE FIXED ASSETS lal These Comprise Freehold Land and Buildin Fittings, Furniture & Total COST OR VALUATION As at 06.04.2023 Additions in Year 6,376.184 11,520 684,933 1,271 7,061,117 12,791 As at 05.04.2024 6,387,704 686,204 7,073,908 DEPRECIATION As at 06.04.2023 Charge for Year 811,762 135,070 500,069 37,227 1,311,831 172,297 As at 05.04.2024 946,832 537,296 1,484,128 NET BOOK VALUE As at 05.04.2024 5,440,872 148,908 5,589,780 As at 05.04.2023 5,564,422 184,864 5,749,286 Ibl FREEHOLD LAND AND BUILDINGS COMPRISE:_ Land Registry IL.R.l Title Nos. are as below Asat 06.04.2023 Additions in Year Depreciation in Year Asat 05.04.2024 NET BOOK VALUE Meetin Halls Church Lane, Three Mile Cross, Reading L.R. Title No: BK 292607 Meetin Hall, 269A Nine Mile Ride, Finchampstead L.R. Title No.. BK 261557 & 8K 461063 5,161,917 11,520 (123.1291 5,050.308 402,505 111,9411 390,564 5,564,422 11,520 1135,0701 5.440,872 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. Fittings. Furniture and Equipment are depreciated as stated in Note 1.6. dl
Page 16 READING GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 TH CONTINUED DEBTORS AND PREPAYMENTS These comprise.. Asat 05.04.2024 Asat 05.04.2023 Debtor- Tax Repayable Other Debtors Prepayments 32,810 246 5,317 14.468 1,477 5,341 38,373 21,286 CREDITORS AND ACCRUALS DUE WITHIN ONE YEAR These comprise: Asat 05.04.2024 Asat 05.04.2023 Creditors Accrua15 Receipt in Advance Short Term Loans 5,729 7,948 4,000 50,000 5,339 9,303 4,000 67.677 18,642 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. 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. AUDITOR'S FEES Year to 05.04.2024 Yearto 05.04.2023 Fees payable for the audit of the Financial Statements 3.504 3,540 DONATED SERVICES AND GIFrs These were to another Gospel 14all Trust, with Parallel objectives, as follows: Year to 05.04.2024 Year to 05.04.2023 Sarum Hill Gospel Hall Trust Special Grant to meet the trust's objectives Other Services 1,442,568 50,149 1.496,659 32,564 1,492,717 1,529,223
Page 17 READING GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 TH CONTINUED RESOURCES EXPENDED These were".- Year to 05.04.2024 Meeting H311 Other Running Charitable Costs Activities Year to 05.04.2023 Total Direct Costs Support Cost5 Governance Costs 234,499 2,805 7,643 1,510,110 1,403 3,821 1.744,609 4,208 11,464 1.810,939 5,976 11,225 244,947 1,515,334 1,760,281 1,828,140 The Other Charitable Activities included with Direct Costs include the Special Grant to the Saram Gospel Hall Trust to acquire Property. 10. ANALYSIS OF NET ASSEfs BETWEEN FUND5 A Designated Fund was previously established but had been discontinued by 5" April 2023, as its purpose had been fulfilled. Ih th The Net Assets related wholly to the General Unrestritted Fund both at 5 April 2024 and 5 April 2023. There were No Restricted Funds at any time in the 2 Years to 5, April 2024. 11 MOVEMENTS IN FUNDS Year Ended 05.04.2024 Opening Incoming Resources Balance Resources Ex ended Closing Balance Unrestricted Funds General Fund 6,899,717 696,873 11,760,2811 5,836,309 Total Funds 6,899,717 696,873 {1,760,281} 5,836,309 Year Ended 05.04.2023 Unrestricted Funds General Fund Designated Fund 8,297,284 15501 430,273 11,827,840) 850 13001 6,899,717 Total Funds 8,296,734 431,123 11,828,140) 6,899,717
Page 18 READING GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED 12 POST BALANCE SHEET EVENTS AND CAPITAL COMMITMENTS No significant Post Balance Sheet Events have arisen to the date of approv31 of these Accounts, or Capital Commitments entered into, other than those referred to in the paraEraphs below. It 15 intended to continue action to pursue the location of sites for potential further Local Halls. It is also envisaged that in due course, the Meeting Hall at 269A Nine Mile Ride, will be proposed for transfer to the Sarum Hill Gospel Hall Trust, which has parallel objettives in the Reading area. The Trust is also committed to assisting the Sarum Hill Gospel Hall Trust with the donation of substantial monies to permit that Trust to acquire further Property for the provision of a Gospel H311 in 202412025 expected to cost in the region of £350,000; and also to adapt a Property already acquired by that Trust. 13 RELATED PARTY TRANSAcfioNS The following transactions took place:_ Year to 05.04.2024 Year to 05.04.2023 lal Mis5 J. Tennent, sister of Howard Tennent, a Trustee, was paid for regula r and detailed book-keeping Services on a clea r commercial basis and rate amounting to.. 3,540 3,540 (Her family had also made donations to the Trust to an Amount substantially in excess of this figures and included in Ibl below}. Ibl Donations were received from Trustees and from parties connected thereto, in the followings totals: 323,056 122,519 Icl At 5" April 2024, a Short term loan of £25,000 was owed to Studland Property Investment5 Limited, a company in which Mr. Howard Tennent, a Trustee, is a participator. The loan 15 subject to 2 month5 written notice by the lender. Idl During the year, the trust donated £1,442,568 to another trust connected via share(5 services. There are no trustees that are involved with both trusts and the donation was agreed to fund the purchase of a new property.
Readin el Hall Trust and Sarum Hill Gos el Hall Trust- Public Benefit Re ortA ril 2023-A ril 2024. The following Report relates to the above Trustsjointly. One of the Trusts. principal activities that further their objects is providing a facility for the coordination of "outreach" work into the wider community. 202312024 has been another busy yearfor the Trust5. Outreach program and this report includes some of the activities we have gifted to or been engaged in. Members of the congregation, acting under the directions from the Trustees and with their full and active encouragement, have continued with the "outreach" work which they have carried out for many years. el Tracts and Literature available from the Gos l Hall Gos The Trusts maintains a display of gospel tracts, literature and Bibles in the foyer of the principal Gospel Hall and this fact is advertised on the Sign Board at the street entrance. Street Preachin s and Tract Distribution We have been again maintaining our longstanding committal to the open-air street Gospel preachings in the town centre of Reading, having 3-5 preachings per week, handing out between 50 and 2(K) tracts each week. Over 20 preachers from the community regularly preach. Each tract has contact details and times of our afternoon preaching. This has continued to spread the availability of attending our meetings. Not only are tracts given out at the preachings but some members hand them out whilst on their walks, or within the work environment. Several community members as employers have donated Bibles to the workers and customers. Community members have donated Bibles to neighbours, contacts and persons in need, as well as distributing them from the Hall. We have a good response to the tract distribution and members of the public enjoy reading them. The Trust has covered the cost of the tracts. The Bibles are paid for by individuals rather than the Trust. Free Covid Test Kits Between Jan 2023-April 2024 over 200 free covid test kits were purchased these were given out to local families to try and prevent spread of COVID-19 rt of dellverln Aid to Ukraine We have given to RRT {see list of some local activities below) in the accounting period ending 5th April 24 the Sum of £3,000. Food Packs We have continued to cover the cost of providing food packs each month to Readifoods and CIRDIC Drop-in centre (working with the homeless and poor of Reading). We supply tracts or free Bibles in the pack5 too. £2,570 was given in food donations to Cirdic between 06-04-2023 and 05-04-2024 Contart and Su ort. We have provided local Parish Councils with park benches, as covered in past reports (the benches cost £646.80 each). We have a further bench in storage and are awaiting details from the Shinfield/ Swallowfield or Burghfield local Parish Council where this is to be located, we have offered to also pay for a installing the bench.
RGHT su orts RRT Ra id Relief Team Chari with a standing order gift of £250 per month and many local members of the congregation 35SiSted on many events. RRT UNITED KINGDOM REUEF TEAM 07736 231943 readin rrt lobal.or COMMV¥ITY co¥?xsszox sup?oR7 htt vww.rrt lobal.or th What has been happening during the year to 5 April 2024 with the help of Reading gospel Hall Trust and Sarum Hill Gospel Hall Trust. events in 2023: June- 300 meals for the Fire Service at Madjeski Stadium on their training day. June- 1000 meals for an abseil event at John Radcliffe Hospital July- 9000 bottles of water handed out - Operation Hydrate at n9$ Cross Station o July- 1170 mea15 for NHS 75th Anniversary at Churchill Hospitsl o August- 500 meals for Whiteley Wood fire Station open day o October- RBH thank you - 2500 meals served to all staff from a combined team of Readin Didcot and Guildtord YEAM Meals in 2023: Reading - 3950 meals Didcot ~ 2302 meals Ke Events comin Lego Land in April o Heathrow Police Station. Farnily/Staff Day in September in 2024: Tum OF .>J/ COMMUIITITY I COMPASSION I SUPPORT
Ji Photograph above Shows the Reading RRT trailer full of equipment parked ready for use at the main city Hall owned by RGHT. Food and replacement equipment for each call out is stored within the main hall store rooms and RGHT don't charge any rent and provide all electrics for recharging equipment and the large freezers free. rrt working in partnership with Gospel Hall Trusts (wdudillgde]ivery).ple&sefollowthe3sirnpJe l. Identify your recipient 2. Order your Food Box through the SmartForni: RRT Family Food Box s.you will be sent an invoice to pay accordingly )) )) pillov Har REUEF TEAM Clititi.•JkOrrt8lobal8Jry1020839176251 Yhl¥W.rrtBJobal.OT818b
We have already started planning for this current year to continue the various initiatives during 2024/2025. We will continue to support other local charities that need support from our willing team of volunteers, who have already assisted the Rapid Relief Team over many events. We are open to further suggestions from the congregation which we will review and then put forward for approval to one of our regular trustee meetings. July 2024.