OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Manor Gospel Trust

2024-04-05-accounts

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Charity Registration No: 1160172

Manor Gospel Trust

Report of the trustees and audited financial statements Year ended 5 April 2024

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

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

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: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Reference and Administrative Details For the year ended 5 April 2024

Charity name Manor Gospel Trust
Registered charity number 1160172
Trustees Anthony Hazell (Chair)
Paul Brown
Dean Ellis
Lee Hazell
Garth Woodcock
Treasurer (Non Trustee) Derek Hall
Principal address The Brethrens Meeting Hall
Leydenhatch Lane
Swanley
Kent
BR8 7PS
Independent auditors Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Accountant T B Tax Services
Accountants
Bridge House
Pattenden Lane
Marden
Kent
TN12 9QJ
Bankers Barclays
1-2 Copperfields
Dartford
DA1 2DE

3

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Report of the Trustees For the year ended 5 April 2024

The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 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 2024 (2023: £nil) other than that disclosed in the related party transaction note.

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 maintains particular links with the Albacore Gospel Hall Trust and the Cheviot Trust 1976, with which it shares members of its congregation.

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: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Report of the trustees (continued) For the year ended 5 April 2024

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 when planning the activities of the Charity.

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. Many of the congregation support a separate charity, the Rapid Relief Team (RRT) in helping the emergency services, the homeless and other local charities. During the year members of the congregation participated in litter picks in the area and also made donations to food banks.

The Trust has continued carried out some improvements to the facilities and car parking of the new hall in anticipation of being able to use them for larger events.

Plans for Future Periods

The trustees remain committed to maintaining and preserving the gospel halls for use by the congregation.

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 800 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

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Report of the trustees (continued) For the year ended 5 April 2024

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: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Report of the trustees (continued) For the year ended 5 April 2024

Financial review

Financial position

In the year ended 5 April 2024 the Trust had a deficit of incoming resources over resources expended excluding depreciation. With the depreciation charge of £403,494 (2023: £595,094) there is an overall deficit of £1,156,138. (2023: £1,409,319). During the year interest was paid on loans to the Trust and there were also grants to made to Cheviot Trust in support of its objectives. Total voluntary income received this year (excluding Gift Aid refunds and donated services) was £157,716 compared to £1,037,033 in the previous year.

During the year further loans were received in order to assist The Cheviot Trust 1976 with the purchase of further gospel halls.

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

The total unrestricted funds as at 5 April 2024 were £4,042,952 (2023: 707,736). The Trust had designated funds of £16,956,273 (2023: £21,447,627).

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.

Despite the increased cost of energy, the trustees feel that these increased costs are not significantly impacting on the ability of the charity to continue as a going concern.

Free reserves at the year end were £Nil. (2023: £Nil)

7

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Report of the trustees (continued) For the year ended 5 April 2024

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. All transactions have been reviewed and approved by two trustees.

On behalf of the board:

(tutD4ABCAE3911C4BB... by: Anthony Hazell Trustee 1/24/2025 Date: ...........................................

8

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Independent Auditors’ report to the Trustees For the year ended 5 April 2024

Opinion

We have audited the financial statements of Manor Gospel Trust for the year ended 5 April 2024 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: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Independent Auditors’ report to the Trustees (Cont’d) For the year ended 5 April 2024

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: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Independent Auditors’ report to the Trustees (Cont’d) For the year ended 5 April 2024

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 non-compliance 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.

1/28/2025 …………………………………………………………………………………………… [ Sofi3DD66D93F6034C6... by: Saffery LLP 71 Queen Victoria Street London EC4V 4BE

Statutory Auditors

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

11

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Statement of financial activities For the year ended 5 April 2024

Notes
Income and endowments from:
Donations and legacies:
Contributions from the congregation
5
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
6
Total
7
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12		 Unrestricted
funds
Designated
funds
Total funds
2024
Total funds
2023
£
£
£
£
149,800
0
149,800
536,032
7,818
0
7,818
495,406
1,955
0
1,955
123,727
0
0
0
0
98
0
98
5,595
437,339
0
437,339
400,000
0
0
0
0
130
0
130
0
16,500
16,500
13,500
613,640
0
613,640
1,574,260
763,747
0
763,747
874,266
823,400
4,550
827,950
1,686,309
178,081
0
178,081
423,004
1,765,228
4,550
1,769,778
2,983,579
(1,151,588)
(4,550)
(1,156,138)
(1,409,319)
4,486,804
(4,486,804)
0
0
3,335,216
(4,491,354)
(1,156,138)
(1,409,319)
707,736
21,447,627
22,155,363
23,564,682
4,042,952
16,956,273
20,999,225
22,155,363

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. A full comparative statement of financial activities is shown at note 14.

12

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Balance sheet As at 5 April 2024

2024 2023
Notes £ £
Fixed assets
Investments 4 2 2
Tangible fixed assets 8 23,030,713 23,434,207
23,030,715 23,434,209
Current assets
Debtors 1,696 72,535
Loans 9 25,000 25,000
Prepayments and accrued income 17,759 11,940
Cash at bank and in hand 152,739 644,601
197,194 754,076
Current liabilities
Creditors 18,584 15,412
Other creditors 2 2
Accruals and deferred income 15,120 24,678
Loans 10 1,647,417 1,453,947
1,681,123 1,494,039
Net current assets (1,483,929) (739,963)
Total assets less current liabilities 21,546,786 22,694,246 22,694,246
Creditors: amounts falling due after more than
one year:
Loans 10 547,561 538,883
Net assets 20,999,225 22 22,155,363
Funds
Unrestricted income fund 4,042,952 707,736
Designated funds 16,956,273 21,447,627 21,447,627
Total unrestricted and charity funds 12 20,999,225 22 22,155,363

The audited financial statements were approved and authorised for issue by the Trustees of Manor Gospel Trust 1/24/2025 on and signed on their behalf by

(tut by:

Anthony Hazell

Trustee

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

13

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Statement of cash flows
For theyear ended 5 April 2024		 Statement of cash flows
For theyear ended 5 April 2024		 2023
£
2024
£
Cash flows from operating activities:
Net cash provided by (used in) operating activities(Note A below)
(621,063)
Cash flows from investing activities:
Purchase of property, plant & equipment
0
(605,195)
Net cash provided by (used in) investing activities
0
Cash flows from financing activities:
Cash inflow from new loans
355,000
2,935,000
Loans repaid
(205,103)
(1,790,000)
Loan interest paid
(20,696)
0
Net cash provided by (used in) financing activities
129,201
Change in cash and cash equivalents in the reporting
period
(491,862)
Cash and cash equivalents at the beginning of reporting period
644,601
Cash and cash equivalents at the end of reporting period
152,739
Change in cash and cash equivalents in the reporting
period
(491,862)
Note A Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) for the reporting period
(1,156,138)
Adjustments for:
Depreciation charges
403,494
595,094
Loan transferred to gift
0
(290,000)
Loan taken over
0
287,183
Loan interest paid
72,947
23,947
(Increase)/decrease in Debtors
70,839
77,163
Increase/(decrease) in creditors
3,172
(49,233)
(Increase)/decrease in prepayments
(5,819)
(3,786)
Increase/(decrease) in accruals
(9,558)
13,478
Net cash provided by (used in) operating activities
(621,063)
Note B Analysis of changes in net debt
At
06/04/23
Cashflows
Non cash
changes
Cash
644,601
(491,862)
0
644,601
(491,862)
0
Borrowings
Short term liabilities
(1,453,947)
(193,470)
0
Long Term liabilities
(538,883)
(8,678)
0
(1,992,830)
(202,148)
0
Total
(1,348,229)
(694,010)
0
(755,473)
(605,195)

1,145,000
(215,668)
860,269
644,601
(215,668)
(1,409,319)
(755,473)
At 05/04/24

152,739
644,601
(1,453,947)
(538,883)
(491,862)
0
(193,470)
0
(8,678)
0
152,739

(1,647,417)

(547,561)
(1,992,830) (202,148)
0
(2,194,978)
(1,348,229) (694,010)
0
(2,042,239)

14

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2024

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 and subsequently the financial statements have been prepared on this basis.

The functional currency is Sterling. Monetary amounts in these financial statements are rounded to the nearest £1.

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: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2024

1.5 Tangible fixed assets and depreciation

The Trust has a capitalization policy whereby all capital assets with a cost of £3,000 or more will be capitalized, while items below this de minimis threshold will be expensed in the period incurred. This policy will be reviewed yearly to ensure compliance with accounting standards and the organization’s financial goals. 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 2024 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 12.

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.

2. Trustees’ remuneration

No Trustees received any remuneration or other benefits from an employment with the charity (2023: None). See related party note 13 for other transactions with Trustees.

16

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2024

3. Wages and salaries

There are no employees (2023: 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 2024 of £(3092) (2023: £(326).)

5. Contributions from the congregation

Donations from individuals
Donations from businesses
Business donation repaid
6.
Donated Services (Paid out)
Cheviot Trust 1976
Albacore Gospel Hall Trust
7.
Expenditure
7.1
Current 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 6)		 Meeting
rooms
£
18,333
230,792
0
111,128
0
0
0
0
403,494
0
763,747
0
763,747		 2024
£
135,500
14,300
0
149,800
2024
£
134,836
43,245
178,081
Other
charitable
activities
£
0
0
18,099
0
675,000
4,348
72,947
21,658
0
35,898
827,950
178,081
1,006,031		 2023
£
309,932
976,100
(750,000)
536,032
2023
£
375,370
47,634
423,004
2024
£
18,333
230,792
18,099
111,128
675,000
4,348
72,947
21,658
403,494
35,898
1,591,697
178,081
1,769,778

During the year the Trust made grants to Cheviot Trust 1976, a trust with similar objects in order to assist with the property purchases and associated renovation works.

17

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2024

7.2
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 6)		 Meeting
rooms
£
13,693
171,454
0
94,025
0
0
0
0
595,094
0
874,266
0
874,266		 Other
charitable
activities
£
0
0
16,032
0
1,487,523
77,028
23,947
56,046
0
25,733
1,686,309
423,004
2,109,313		 2023
£
13,693
171,454
16,032
94,025
1,487,523
77,028
23,947
56,046
595,094
25,733
2,560,575
423,004
2,983,579

Governance costs include £10,100 (2023: £9,900) in respect of auditors fees.

8. Fixed assets

Cost
B/f at 06/04/2023
At 5 April 2024
Depreciation
B/f at 06/04/2023
Charge for the year
At 5 April 2024
Net book value
At 5 April 2024
At 5 April 2023
Land Title Deed Nos:
Residential Title Deed Nos:		 Leydenhatch
Land
Residential
Properties
Equipment
Breakdown
below
See Below
See Below
20,631,184
4,356,135
1,718,305
63,480
20,631,184
4,356,135
1,718,305
63,480
3,278,960
0
0
55,937
395,951
0
0
7,543
3,674,911
0
0
63,480
16,956,273
4,356,135
1,718,305
0
17,352,224
4,356,135
1,718,305
7,543
K749456, K617649, K150370, K751061, TT24602
TT15985, K484042, K478003, K752515		 Total
26,769,104
26,769,104
3,334,897
403,494
3,738,391
23,030,713
23,434,207

18

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2024

Leydenhatch Gospel Hall
Brought into use December 2017
Buildings
Cost
B/f at 06/04/2023
19,385,145
At 5 April 2024
19,385,145
Depreciation
B/f at 06/04/2023
2,053,524
Charge for the year
387,703
At 5 April 2024
2,441,227
Net book value
At 5 April 2024
16,943,918
At 5 April 2023
17,331,621
9.
Loans out
Cheviot Construction Ltd
TOTAL
10.
Loans repayable
10.1
Loans repayable within one year
Private Loans
TOTAL
10.2
Loans repayable after one year
Central G H Trust (1-2 years)
Private loans (1-2 years)
Loan re Mrs Ives (over 5 years)
TOTAL		 Plant &
Machinery
25,193
25,193
13,435
2,519
15,954
9,239
11,758		 Fixtures &
Fittings
472,317		 Fixtures &
Fittings
472,317		 Fixtures &
Fittings
472,317		 Equipment

748,529

748,529

739,684

5,729

745,413

3,116

8,845
2024
£
25,000
25,000
2024
£
1,647,417
1,647,417
2024
£
295,861
250,000
1,700
547,561		 Equipment
748,529		 Equipment
748,529		 Equipment
748,529





Total
20,631,184
472,317 748,529 20,631,184
472,317
0		 739,684
5,729		 3,278,960
395,951
472,317 745,413 3,674,911
0 3,116 16,956,273
0 8,845 17,352,224
2023
£
25,000
25,000
2023
£
1,453,947
1,453,947
2023
£
287,183
250,000
1,700
538,883



1,647,417
2024
£
295,861
250,000
1,700
547,561

19

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2024

11.
Analysis of net assets between funds
11.1
Current year
Fixed assets
Current assets
Current liabilities
Long term liabilities
Total funds
11.2
Prior year
Fixed assets
Current assets
Current liabilities
Long term liabilities
Total funds		 Unrestricted
funds
£
6,074,442
197,194
(1,681,123)
(547,561)
4,042,952
Unrestricted
funds
£
2
749,526
(40,092)
(1,700)		 Designated
funds
£
16,956,273
0
0
0
16,956,273
Designated
funds
£
23,434,207
4,550
(1,453,947)
(537,183)		 Total
£
23,030,715
197,194
(1,681,123)
(547,561)
20,999,225
Total
£
23,434,209
754,076
(1,494,039)
(538,883)
707,736 21,447,627 22,155,363
12.
Movement in funds
12.1
Current year
Designated funds - ENF
Designated funds - Buildings
Unrestricted funds
Total funds		 Balance at
6 April
2023
£
4,550
21,443,077
707,736
22,155,363		 Incoming
resources
£
0
0
613,640
613,640		 Resources
expended
£
(4,550)
0
(1,765,228)
(1,769,778)		 Transfers
£
0
(4,486,804)
4,486,804
0		 Balance at
5 April
2024
£
0
16,956,273
4,042,952
20,999,225

20

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2024

Movement in funds (cont’d)

12.2
Prior year
Designated funds - ENF
Designated funds - Buildings
Unrestricted funds
Total funds		 Balance at
6 April
2022
£
4,550
22,599,106
961,026
23,564,682		 Incoming
resources
£
0
0
1,574,260
1,574,260		 Resources
expended
£
0
0
(2,983,579)
(2,983,579)		 Transfers
£
0
(1,156,029)
1,156,029
0		 Balance at
5 April
2023
£
4,550
21,443,077
707,736
22,155,363

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

Designated fund
NBV of Leydenhatch
Short term loans
Long term loans
TOTAL		 2024
£
16,956,273
0
0
16,956,273		 2023
£
23,434,207
(1,453,947)
(537,183)
21,443,077

13. Transactions with related parties

During the year donations totalling £2,250 (2023: £1,476,450) were made to the Trust from trustees, related parties, and businesses controlled by them and a donation of £Nil (2023: £750,000) was repaid to a business controlled by a Trustee.

During the year £442 (2023: £2,895) was paid to CMT Equipment (a business controlled by Anthony Hazell, Trustee) for goods supplied, £25,844 (2023: £25,721) was paid to Valley Provincial (of which Paul Brown, Trustee, is a director), for cemetery and landscaping expenses. £Nil (2023: £76) was paid to Roy Brown (related party to Paul Brown, Trustee) for expenses incurred. All transactions were at arms length.

During the year a loan of £30,000 was received from Valley Provincial LLP (of which Paul Brown, Trustee, is a director), and a loan of £50,000 was received from Garth Woodcock, Trustee. Both loans are interest free. During the prior year a loan of £290,000 from the parents of one of the Trustees was converted into a donation and at the year end £35,000 (2023: £35,000) was outstanding.

At the year end Cheviot Construction Ltd owed £25,000 to the Trust (2023: £25,000).

21

Docusign Envelope ID: 5C0C0299-D92C-481D-A467-F5B7895459BB

Manor Gospel Trust

Notes to the Financial Statements For the year ended 5 April 2024

14. Full comparison of Statement of Financial Activities

Notes
Income and endowments from:
Donations and legacies:
Collections
Contributions from the congregation
5
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
6
Total
7
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
2023
£
£
£
0
0
0
536,032
0
536,032
495,406
0
495,406
123,727
0
123,727
0
0
0
5,595
0
5,595
400,000
0
400,000
0
0
0
0
0
0
13,500
13,500
1,574,260
0
1,574,260
874,266
0
874,266
1,686,309
0
1,686,309
423,004
0
423,004
2,983,579
0
2,983,579
(1,409,319)
0
(1,409,319)
0
0
0
1,156,029
(1,156,029)
0
(253,290)
(1,156,029)
(1,409,319)
961,026
22,603,656
23,564,682
707,736
21,447,627
22,155,363

15. 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.

In accordance with Charities SORP (FRS 102), the value of volunteer time is not recognised in the financial statements.

22