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2021-04-05-accounts

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Charity Registration No: 1160172

Manor Gospel Trust

Report of the trustees and audited financial statements Year ended 5 April 2021

T B Tax Services Bridge House Pattenden Lane Marden Kent TN12 9QJ

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Contents

Pages
Reference and administrative details 3
Report of the Trustees 4-8
Independent auditor’s report 9-11
Statement of financial activities 12
Balance sheet 13
Statement of Cash Flows 14
Notes to the financial statements 15-22

2

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Reference and Administrative Details For the year ended 5 April 2021

Charity name Manor Gospel Trust
Registered charity number 1160172
Trustees Anthony Hazell (Chair)
Lee Hazell
Paul Brown
Dean Ellis
Garth Woodcock
Treasurer Derek Hall
Principal address The Brethrens Meeting Hall
Leydenhatch Lane
Swanley
Kent
BR8 7PS
Independent auditors Saffery Champness LLP
71 Queen Victoria Street
London
EC4V 4BE
Accountant T B Tax Services
Accountants
Bridge House
Pattenden Lane
Marden
Kent
TN12 9QJ

3

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Report of the Trustees For the year ended 5 April 2021

The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 15-16 and comply with the Trust Deed and applicable law.

Structure, governance and management

Governing document

The Charity is an unincorporated trust constituted by a Deed of Trust dated 17 March 1992, most recently amended by Deed of Variation dated 13 August 2014. The Trust was registered with the Charity Commission for England and Wales on 27 January 2015 under Charity Registration Number: 1160172.

Recruitment and appointment of new trustees

The names of the Trustees who served during the year and since the year end are set out on page 3. None of the Trustees, nor any person connected with them, received any remuneration from the Charity in the year ended 5 April 2021 (2020: £nil).

The Trust operates a Gospel Hall and Trustees are chosen from among the regular congregation of the hall. New Trustees are nominated by the existing Trustees or by the congregation and must be appointed by unanimous resolution of the congregation. They are selected according to their skills and experience and are expected to use both in furthering the objects of the Charity. Checks are made to ensure the Trustees’ eligibility to act and incoming Trustees are made aware of their responsibilities by the existing Trustees, who ensure that new Trustees read the Trust Deed and relevant Charity Commission guidance.

Wider network

The Trustees maintain informal links with Trustees of similar Trusts with a view to pooling experience considered useful in pursuing the objects of the Trust and is closely connected with the Albacore Gospel Hall Trust.

The Trust is the sole shareholder of Cheviot Construction Ltd which was engaged to manage the construction of the new Gospel Hall.

Risk management

The Trustees have identified the major risks to which the charity is exposed, and these include Health & Safety connected to the running of a large public building and significant falls in income.

They have established systems and procedures to mitigate these risks by consulting appropriate professionals and remaining engaged with all members of the community.

4

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Report of the trustees (continued) For the year ended 5 April 2021

Objectives and activities

Objectives and aims

The charitable purposes of the Charity are the advancement of the Christian religion for the public benefit, including by the carrying on of the service of God in accordance with the Old and New Testaments of the Holy Bible as followed by those Christians forming part of the world-wide fellowship known as the Plymouth Brethren Christian Church (the “Brethren”) and any other charitable purposes connected with Brethren. The core doctrine of the Brethren and proper practices in furtherance of certain aspects of doctrine are summarised in two schedules to the Trust Deed.

Public benefit

The Trustees confirm that they have complied with their duty under section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance to charities on public benefit.

Main activities and achievements

The Trust provides and maintains a Gospel Hall where religious meetings are held by the local Brethren community. Details of the origins, teachings and way of life of the Brethren can be found on the website - www.plymouthbrethrenchristianchurch.org and in the schedules to the Trust Deed.

The Trust has continued to engage with the congregation and encouraging good works by them which benefit the wider community, as described below.

The Trustees have also established an Emergency Needs fund (ENF) 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 held at the Gospel hall 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 30 and 300 people normally attend these occasions.

The meetings are attended by the regular congregation and most are open to other properly disposed visitors. The notice board outside the Hall welcomes visitors and displays the times of Gospel preachings, along with a telephone number for those seeking further information or help. Gospel tracts, which are distributed by street preachers, also display this information.

Bibles and an extensive range of other Christian reading material are on display at the hall and visitors are free to help themselves.

5

Manor Gospel Trust

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Report of the trustees (continued) For the year ended 5 April 2021

Objectives and activities (continued)

Spreading the Gospel message and the life of a Christian

The Gospel Hall is a base from which the regular congregation and others who attend the meetings are encouraged to spread the Christian Gospel, in word and deed.

Members of the congregation participate in a programme of street preaching and Gospel tracts are provided free of charge by the Charity to such preachers to be handed out to interested members of the public.

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:

Funding

The Trustees take their responsibility under the Charities (Protection and Social Investment) Act 2016 seriously and have considered the implications on their activities. The Trust raises funds from within the Brethren community. The Trust does not use professional fundraisers nor does it actively fundraise from the general public and therefore the trustees do not consider it necessary to have a formal fundraising policy in place. The trustees confirm that in the current financial year there have been no complaints in respect of fundraising.

6

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Report of the trustees (continued) For the year ended 5 April 2021

Financial review

Financial position

In the year ended 5 April 2021 the Trust had a good surplus of incoming resources over resources expended excluding depreciation. With the depreciation charge of £644761 (2020: £646049) there is an overall surplus of £229830 (2020: Deficit £70743). Total voluntary income received this year (excluding Gift Aid refunds and donated services) was £983,028 compared to £959,449 in the previous year.

During the year work continued on the Gospel Hall including external landscaping works.

The total unrestricted funds as at 5 April 2021 were £80,816 (2020: £771,760). The Trust had designated funds of £10,275,560 (2020: £9,354,786).

Plans for future periods

From 18[th] March 2020, the Trust ceased using the gospel hall which it operates. This was as a result of the global COVID-19 pandemic and the general lockdown imposed by the government on 23[rd] March 2020. Whilst meetings of the congregation have continued to take place via online conferencing facilities, the Trust aims to use these 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.

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 Trust aims to hold sufficient funds in a current account to cover day to day expenditure, plus an allowance for any urgent repairs and capital expenses that may arise.

The congregation is kept regularly informed as to particular needs for funds, and other relevant matters and the Trustees aim to ensure that the Charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure, by raising a funds appeal to the congregation.

Free reserves at the year end were £80,816. (2020: £771,760)

7

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Report of the trustees (continued) For the year ended 5 April 2021

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 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and 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.

On behalf of the board:

Anthony Hazell Trustee 6/29/2021 Date: ...........................................

8

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Independent Auditors’ report to the Trustees For the year ended 5 April 2021

Opinion

We have audited the financial statements of Manor Gospel Trust for the year ended 5 April 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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:

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.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

9

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Independent Auditors’ report to the Trustees (Cont’d) For the year ended 5 April 2021

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 Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 8, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act.

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 auditors’ 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.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussions with trustees and updating our understanding of the sector in which the charity operates.

10

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Independent Auditors’ report to the Trustees (Cont’d) For the year ended 5 April 2021

Auditors’ responsibilities for the audit of the financial statements (cont’d)

Laws and regulations of direct significance in the context of the charity include the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England and Wales.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charity’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charity’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available 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 charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for our audit work, for this report, or for the opinions we have formed.

7/6/2021 …………………………………………………………………………………………… Saffery Champness LLP 71 Queen Victoria Street London Chartered Accountants EC4V 4BE Statutory Auditors

Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

11

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Statement of financial activities For the year ended 5 April 2021


Notes
Income and endowments from:
Donations and legacies:
Contributions from the
congregation
Gift Aid donations
Income tax refunds
Donated services - Albacore Gospel Hall
Trust
Payroll giving
Grants from other Trusts
Charitable activities
Hall Hire
Investments
Bank interest
Other - Interments
Total
Expenditure on:
Charitable activities
Running meeting rooms
Other charitable activities
Cost of donated services
5
Total
6
Net income/(expenditure)
Gains/(losses) on sale of fixed
assets
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Designated
funds
Total
funds
2021
Total
funds
2020
£
£
£
£
781067
31575
812642
526723
159565
0
159565
409696
39866
0
39866
102649
5528
0
5528
17775
10821
0
10821
23030
95000
0
95000
8000
0
0
0
12000
0
0
0
75
31200
31200
17722
1123047
31575
1154622
1117670
769913
0
769913
856755
90212
31575
121787
321615
33092
0
33092
10043
893217
31575
924792
1188413
229830
0
229830
(70743)
0
0
0
0
(920774)
920774
0
0
(690944)
920774
229830
(70743)
771760
9354786
10126546
10197289
80816
10275560
10356376
10126546

The notes on pages 15 to 22 form part of these financial statements. All of the above activities are classed as continuing and there are no gains and losses other than those included above.

12

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Balance sheet As at 5 April 2021

Notes
Fixed assets
Investments
4
Tangible fixed assets
7
Current assets
Debtors
Loans
Prepayments and accrued income
Cash at bank and in hand
Current liabilities
Creditors
Other creditors
Accruals and deferred income
Loans
8
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one
year:
Loans
9
Net assets
Funds
Unrestricted income fund
Designated funds
Total unrestricted and charity funds
10		 2
24070155		 2021
£


24070157









(828029)		 2
23800915		 2020
£


23800917









(759474)
13983
0
29161
69588

47182
0
191578
586691
112732
14210
2
16006
910543		 825451
41871
2
10120
1532932









23242128
12885752		 23041443
12914897
10356376 10126546
80816
10275560		 771760
9354786
10356376 10126546

The audited financial statements were approved and authorised for issue by the Trustees of Manor Gospel Trust on 6/29/2021 and signed on their behalf by

Anthony Hazell Trustee

The notes on pages 15 to 22 form part of these financial statements

13

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Statement of cash flows For the year ended 5 April 2021

2021
£
Cash flows from operating activities:
Net cash provided by (used in) operating activities(Note A below)
645784
Cash flows from investing activities:
Purchase of property, plant & equipment
(782000)
(516077)
Net cash provided by (used in) investing activities
(782000)
Cash flows from financing activities:
Cash inflow from new loans
470000
315000
Loans repaid
(838074)
(380000)
Loan interest paid
(12813)
(3067)
Net cash provided by (used in) financing activities
(380887)
Change in cash and cash equivalents in the reporting
period
(517103)
Cash and cash equivalents at the start of reporting period
586691
Cash and cash equivalents at the end of reporting period
69588
Change in cash and cash equivalents in the reporting
period
(517103)
Note A Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period
(66511)
Adjustments for:
Depreciation charges
644761
646049
Gift in kind
(305528)
(17775)
Loan interest paid
34881
40709
Rounding adjustment
(1)
(1)
(Increase)/decrease in Debtors
33199
(47182)
Increase/(decrease) in creditors
(27661)
3462
(Increase)/decrease in prepayments
30417
(29178)
Increase/(decrease) in accruals
5886
420
Net cash provided by (used in) operating activities
645784
Note B Analysis of changes in net debt
At
06/04/20
Cashflows
Non cash
changes
Cash
586691
(517103)
586691
(517103)
0
Borrowings
Short term liabilities
(1532932)
325000
297389
Long Term liabilities
(12914897)
43074
(13929)
(14447829)
368074
283460
Total
(13861138)
(149029)
283460		 2021
£
Cash flows from operating activities:
Net cash provided by (used in) operating activities(Note A below)
645784
Cash flows from investing activities:
Purchase of property, plant & equipment
(782000)
(516077)
Net cash provided by (used in) investing activities
(782000)
Cash flows from financing activities:
Cash inflow from new loans
470000
315000
Loans repaid
(838074)
(380000)
Loan interest paid
(12813)
(3067)
Net cash provided by (used in) financing activities
(380887)
Change in cash and cash equivalents in the reporting
period
(517103)
Cash and cash equivalents at the start of reporting period
586691
Cash and cash equivalents at the end of reporting period
69588
Change in cash and cash equivalents in the reporting
period
(517103)
Note A Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period
(66511)
Adjustments for:
Depreciation charges
644761
646049
Gift in kind
(305528)
(17775)
Loan interest paid
34881
40709
Rounding adjustment
(1)
(1)
(Increase)/decrease in Debtors
33199
(47182)
Increase/(decrease) in creditors
(27661)
3462
(Increase)/decrease in prepayments
30417
(29178)
Increase/(decrease) in accruals
5886
420
Net cash provided by (used in) operating activities
645784
Note B Analysis of changes in net debt
At
06/04/20
Cashflows
Non cash
changes
Cash
586691
(517103)
586691
(517103)
0
Borrowings
Short term liabilities
(1532932)
325000
297389
Long Term liabilities
(12914897)
43074
(13929)
(14447829)
368074
283460
Total
(13861138)
(149029)
283460		 2021
£
Cash flows from operating activities:
Net cash provided by (used in) operating activities(Note A below)
645784
Cash flows from investing activities:
Purchase of property, plant & equipment
(782000)
(516077)
Net cash provided by (used in) investing activities
(782000)
Cash flows from financing activities:
Cash inflow from new loans
470000
315000
Loans repaid
(838074)
(380000)
Loan interest paid
(12813)
(3067)
Net cash provided by (used in) financing activities
(380887)
Change in cash and cash equivalents in the reporting
period
(517103)
Cash and cash equivalents at the start of reporting period
586691
Cash and cash equivalents at the end of reporting period
69588
Change in cash and cash equivalents in the reporting
period
(517103)
Note A Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period
(66511)
Adjustments for:
Depreciation charges
644761
646049
Gift in kind
(305528)
(17775)
Loan interest paid
34881
40709
Rounding adjustment
(1)
(1)
(Increase)/decrease in Debtors
33199
(47182)
Increase/(decrease) in creditors
(27661)
3462
(Increase)/decrease in prepayments
30417
(29178)
Increase/(decrease) in accruals
5886
420
Net cash provided by (used in) operating activities
645784
Note B Analysis of changes in net debt
At
06/04/20
Cashflows
Non cash
changes
Cash
586691
(517103)
586691
(517103)
0
Borrowings
Short term liabilities
(1532932)
325000
297389
Long Term liabilities
(12914897)
43074
(13929)
(14447829)
368074
283460
Total
(13861138)
(149029)
283460		 2020
£
525761
(516077)
(68067)
(58383)
645074
586691
(58383)
(70743)
525761
At
05/04/21
69588
586691
(1532932)
(12914897)
(517103)
0
325000
297389
43074
(13929)
69588
(910543)
(12885752)
(14447829) 368074
283460		 (13796295)
(13861138) (149029)
283460		 (13726707)

14

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 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) second edition and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.

The Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

From 18[th] March 2020, the Trust ceased using the gospel halls which it 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.

The functional currency is Sterling. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Income

Donations are recognised in the year in which there is entitlement and probability of receipt and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future year.

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 Manor Gospel Trust is considered to be equal to market value which would be paid were the service formally procured. This includes services paid for by other trusts.

Investment income is accounted for on a receivable basis.

1.3 Expenditure

Expenditure is included on 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.

1.4 Governance and support costs

Governance and support costs are allocated to charitable activities on the basis of capacity used.

15

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2021

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. 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:

Land Not Depreciated Residential Buildings See Below Buildings 50 years Straight Line Plant & Machinery 10 years Straight Line Equipment 5 years Straight Line Fixtures & Fittings 5 years Straight Line

No depreciation is provided on residential buildings as the Trustees consider the residual value of the buildings to be no less than the cost at which the residential buildings are held.

1.6 Investment in Cheviot Construction Ltd

The Trust holds shares in the subsidiary which are valued at cost. The majority of transactions undertaken by the subsidiary are already reflected in the accounts of the Trust through recharges. On this basis consolidated accounts for the year ended 5 April 2021 have not been prepared.

1.7 Taxation

The Trust is a registered charity and is not liable to United Kingdom income or corporation tax on charitable activities, provided income falls within the charitable exemptions and is spent on charitable purposes.

1.8 Funds

The general unrestricted fund is free for the Trustees to use for any purposes in furtherance of the trust’s charitable objects.

Designated funds are those funds set aside by the Trustees for a particular purpose and are explained further in Note 11.

1.9 Financial Instruments

The Trust only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate. The Trust did not have any bank loans in the year.

1.10 Judgements and uncertainties

In application of the Trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other relevant factors and reviewed on an ongoing basis. Actual results may differ from these estimates.

The trustees consider the most significant judgement to be the useful economic life of 50 years over which the building is depreciated.

16

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2021

2. Trustees’ remuneration

No Trustees received any remuneration or other benefits from an employment with the charity (2020: None).

3. Wages and salaries

There are no employees (2020: none).

4. Investment

The Trust is the sole shareholder of Cheviot Construction Ltd, a Ltd Company set up to manage construction projects, which has share capital of £2 and reserves at 5 April 2021 of £2 (2020: £62357.)

Cheviot Construction Ltd
5.
Donated Services (Paid out)
Cheviot Trust 1976
Albacore Gospel Hall Trust
Hawley Gospel Trust
Crockthorn Orpington Trust
6.
Expenditure
6.1
Current year
Direct costs:
Insurance
Repairs & Maintenance
Interment expenses
Utilities
Donations to individuals
Activity costs
Loan Interest
Legal fees
Depreciation
Governance costs
Donated services (see note)		 Meeting rooms
£
12141
58420
0
54591
0
0
0
0
644761
0
769913
769913		 2021
£
2
2
2021
£
6290
22099
3162
1541
33092
Other
charitable
activities
£
0
0
15937
0
31575
1493
34581
20330
0
17871
121787
33092
154879		 2020
£
2
2
2020
£
10043
0
0
0
10043
2021
£
12141
58420
15937
54591
31575
1493
34581
20330
644761
17871
891700
33092
924792

17

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2021

6.2
Prior year
Direct costs:
Insurance
Repairs & Maintenance
Interment expenses
Utilities
Donations to other Trusts
Activity costs
Loan Interest
Legal fees
Depreciation
Governance costs
Donated services (see note)		 Meeting rooms
£
10384
124662
0
75660
0
0
0
646049
0
856755
856755		 Other
charitable
activities
£
0
0
15613
0
155000
66219
41755
21901
0
21127
321615
10043
331658		 2020
£
10384
124662
15613
75660
155000
66219
41755
21901
646049
21127
1178370
10043
1188413

Governance costs include £6250 (2020: £6100) in respect of auditors fees.

7. Fixed assets

Cost
B/f at 06/04/20
Additions
At 5 April 2021
Depreciation
B/f at 06/04/20
Charge for the year
At 5 April 2021
Net book value
At 5 April 2021
At 5 April 2020
Land Title Deed Nos:
Residential Title Deed Nos:		 Leydenhatch
Land
Residential
Properties
Breakdown
below
See Below
See Below
20625989
3106135
1454305
0
650000
264000
20625989
3756135
1718305
1429857
0
0
633352
0
0
2063209
0
0
18562780
3756135
1718305
19196132
3106135
1454305
K749456, K617649, K150370, K751061, TT24602
TT15985, K484042, K478003, K752515		 Equipment
63480
0
63480
19137
11408
30545
32935
44343		 Total
25249909
914000
26163909
1448994
644760
2093754
24070155
23800915

18

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2021

Leydenhatch Gospel Hall
Brought into use December 2017
Buildings
Cost
B/f at 06/04/20
19385145
At 5 April 2021
19385145
Depreciation
B/f at 06/04/20
890416
Charge for the year
387703
At 5 April 2021
1278119
Net book value
At 5 April 2021
18107026
At 5 April 2020
18494729
8.
Loans repayable within one year
Private Loans
Business loans
Croydon Gospel Hall Trust
Albacore Gospel Hall Trust
Lee Street Trust
Benhill Gospel Hall Trust
TOTAL
9.
Loans repayable after one year
Benhill Gospel Hall Trust
Central G H Trust
Private loans
Loan re Mrs Ives
Fairworth Gospel Hall Trust
TOTAL		 Plant &
Machinery
25193
25193
5878
2519
8397
16796
19315		 Fixtures
&
Fittings
Equipment
472317
743334

472317
743334

216746
316817
94463
148667
311209
465484
161108
277850

255571
426517

2021
£
160543
100000
150000
0
0
500000
910543
2021
£
0
8745000
2469052
1700
1670000
12885752		 Fixtures
&
Fittings
Equipment
472317
743334

472317
743334

216746
316817
94463
148667
311209
465484
161108
277850

255571
426517

2021
£
160543
100000
150000
0
0
500000
910543
2021
£
0
8745000
2469052
1700
1670000
12885752		 Total
20625989
20625989
1429857
633352
2063209
18562780
19196132
2020
£
457932
200000
150000
25000
200000
500000
1532932
2020
£
0
8750000
2493197
1700
1670000
12914897

19

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2021

10.
Analysis of net assets between funds
10.1
Current year
Fixed assets
Current assets
Current liabilities
Long term liabilities
Total funds
10.2
Prior year
Fixed assets
Current assets
Current liabilities
Long term liabilities
Total funds
11.
Movement in funds
11.1
Current year
Balance at
6 April
2020
£
Designated funds - ENF
0
Designated funds - Buildings
9354786
Unrestricted funds
771760
Total funds
10126546		 Unrestricted
funds
Designated
funds
Total
£
£
£
2
24070155
24070157
112732
0
112732
(30218)
(910543)
(940761)
(1700)
(12884052)
(12885752)
80816
10275560
10356376
Unrestricted
funds
Designated
funds
Total
£
£
£
2
23800915
23800917
825451
0
825451
(51993)
(1532932)
(1584925)
(1700)
(12913197)
(12914897)
771760
9354786
10126546
Incoming
resources
Resources
expended
Transfers
Balance
at 5 April
2021
£
£
£
£
31575
(31575)
0
0
0
0
920774
10275560
1123047
(893217)
(920774)
80816
1154622
(924792)
0
10356376		 Unrestricted
funds
Designated
funds
Total
£
£
£
2
24070155
24070157
112732
0
112732
(30218)
(910543)
(940761)
(1700)
(12884052)
(12885752)
80816
10275560
10356376
Unrestricted
funds
Designated
funds
Total
£
£
£
2
23800915
23800917
825451
0
825451
(51993)
(1532932)
(1584925)
(1700)
(12913197)
(12914897)
771760
9354786
10126546
Incoming
resources
Resources
expended
Transfers
Balance
at 5 April
2021
£
£
£
£
31575
(31575)
0
0
0
0
920774
10275560
1123047
(893217)
(920774)
80816
1154622
(924792)
0
10356376
10356376

20

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2021

Movement in funds (cont’d)

11.2 Prior year

Designated funds - Buildings
Unrestricted funds
Total funds		 Balance
at 6 April
2019
£
9439624
757665
10197289		 Incoming
resources
£
0
1117670
1117670		 Resources
expended
£
0
(1188413)
(1188413)		 Transfers
£
(84838)
84838
0		 Balance
at 5 April
2020
£
9354786
771760
10126546

Following practical completion of the major capital project, the Trustees have decided to designate the value of the building less associated loans to reflect that it is integral to their charitable activities.

During the year the Trustees also set aside funds in response to the pandemic to support members of the congregation in need.

12. Transactions with related parties

During the year donations totalling £64727 (2020: £130193) were made to the Trust from trustees, related parties, and businesses controlled by them. During the year £1662 (2020: £714) was paid to CMT Equipment (a business controlled by Anthony Hazell, Trustee) for goods supplied, and £19405 (2020: £29838) was paid to Valley Landscape (of which Paul Brown, Trustee, is a director) for cemetery expenses. All transactions were at arms length.

During the year the Trust had a loan of £300000 (2020: £300000) from Unispace (of which Anthony Hazell, Trustee, and Garth Woodcock, Trustee, are directors), and this was written off during the year and has been shown as a donation.

There was also a donation from Cheviot Construction Ltd of £9537 (2020: £51896).

21

DocuSign Envelope ID: EEB8C172-9B83-4C08-9B6B-AB2D1D333CC8

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2021

13. Full comparison of Statement of Financial Activities

Notes
Income and endowments from:
Donations and legacies:
Collections
Contributions from the congregation
Gift Aid donations
Income tax refunds
Donated services - Albacore Gospel Hall Trust
Payroll giving
Grants from other Trusts
Charitable activities
Hall Hire
Investments
Bank interest
Other - Interments
Total
Expenditure on:
Charitable activities
Running meeting rooms
Other charitable activities
Cost of donated services
5
Total
6
Net income/(expenditure)
Gains/(losses) on sale of fixed assets
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Designated
funds
Total funds
2020
£
£
£
0
0
0
526723
0
526723
409696
0
409696
102649
0
102649
17775
0
17775
23030
0
23030
8000
0
8000
12000
0
12000
75
0
75
17722
17722
1117670
0
1117670
856755
0
856755
321615
0
321615
10043
0
10043
1188413
0
1188413
(70743)
0
(70743)
0
0
0
84838
(84838)
0
14095
(84838)
(70743)
757665
9439624
10197289
771760
9354786
10126546

14. Volunteers

Manor Gospel Trust relies entirely on volunteers to carry out the management, administration and general maintenance work. The Trust has no paid staff or paid Trustees.

22