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2021-04-05-accounts

Charity Registration No: 1161969

Springfield Gospel Trust

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

Springfield Gospel Trust

Contents

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Pages
Reference and administrative details 3
Report of the trustees 4-8
Independent examiner’s report 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12-17
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2

Springfield Gospel Trust

Reference and administrative information For the year ended 5 April 2021

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Charity name Springfield Gospel Trust
Registered charity number 1161969
Trustees Nick Clarke (Chair)
Ian King
Edwin Kerkham
Russell Wickland
Hamish Penson
Treasurer Hamish Penson
Principal address The Gospel Hall
Nyton Road
Aldingbourne, PO20 3TX
Independent examiner J Irvinesmith
Independent Examiners Limited
Unit 2 The Broadbridge Business Centre
Delling Lane
Bosham
PO18 8NF
Bankers Cater Allan Private Bank
Bridle Road
Bootle
L30 4GB
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Report of the trustees For the year ended 5 April 2021

Springfield Gospel Trust

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 12 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 22 June 2004, most recently amended by Deed of Variation dated 28 February 2014. The Trust was registered with the Charity Commission for England and Wales on 3 June 2015 under Charity Registration Number: 1161969.

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 or expenses from the Charity in the year ended 5 April 2021 (2020: £nil).

The Trust operates 2 Gospel Halls and Trustees are chosen from among the regular congregation of the halls. New Trustees are nominated by the existing Trustees or by the congregation and must be appointed by unanimous resolution of the congregation. They are selected according to their skills and experience and are expected to use both in furthering the objects of the Charity. Checks are made to ensure the Trustees’ eligibility to act and incoming Trustees are made aware of their responsibilities by the existing Trustees, who ensure that new Trustees read the Trust Deed and relevant Charity Commission guidance.

Wider network

The Trustees maintain informal links with similar charities with a view to pooling experience considered useful in pursuing the objects of the Charity. The Charity also maintains particular links with Chalcraft Gospel Hall Trust, with which it shares members of its congregation.

Risk management

The Trustees have identified and reviewed the major risks to which the Charity is exposed and confirm that they have established systems or procedures to manage and mitigate those risks.

Objectives and activities

Objectives and aims

The charitable purposes of the Charity are the advancement of the Christian religion for the public benefit, including by the carrying on of the service of God in accordance with the Old and New Testaments of the Holy Bible as followed by those Christians forming part of the world-wide fellowship 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.

4

Report of the trustees For the year ended 5 April 2021

Springfield Gospel Trust

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.

2020-21 presented many fresh challenges with lockdowns and restrictions on gathering in places of worship but it is intended that Public Outreach activities will resume as covid restrictions permit.

Main activities and achievements

The Trust provides and maintains 2 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 the website - www.plymouthbrethrenchristianchurch.org and in the schedules to the Trust Deed.

The Trust’s main achievement this year has been the purchase of a new small building to serve the requirements of our congregation in the Yapton area, and this has been put into use since the year end once Coronavirusrelated restrictions on gathering were lifted.

The Trustees have established an Emergency Needs fund for the duration of the current pandemic and any resultant economic downturn. This is providing limited financial assistance by the way of grocery vouchers to households, who have experienced a recent and significant decrease in income due to the pandemic, such that it is likely to impact on the health and/or welfare of members of the household. The trust has appointed a Local Welfare Panel to manage the application process and to administer the vouchers to qualifying applicants.

From 18th March 2020, Springfield Gospel Trust ceased using the two gospel halls, which it operates. This was as a result of the global COVID-19 pandemic and the general lockdown imposed by the government on 23rd March 2020. The Trust aims to use the Gospel Halls again once the general lockdown is lifted and it is deemed safe to do so. The trustees do not consider that the Covid-19 pandemic will have any effect on the ability of the trust to continue as a going concern.

Meetings

Meetings held at the Gospel halls include the Lord's Supper (Communion), Gospel preachings, Bible readings and Bible addresses. There is a structured weekly schedule of meetings and, depending on the particular meeting, between 40 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

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

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Report of the trustees For the year ended 5 April 2021

Springfield Gospel Trust

Spreading the Gospel message and the life of a Christian

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

Members of the congregation 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

Funding is sought through gifts from the congregation and Gift Aid is claimed on eligible donations. Funding is sometimes received from other charitable trusts with complementary objectives.

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Report of the trustees For the year ended 5 April 2021

Springfield Gospel Trust

Financial review

Financial position

In the year ended 5 April 2021, the Trust had a small deficit of £747 incoming resources over resources expended. This is mainly attributable to non-monetary items such as depreciation of fixed assets which totalled £76,781 in this financial year. Total voluntary income received this year was £122,446 compared to £118,703 in the previous year.

All funds held were unrestricted funds.

Reserves policy

The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs, based on its size and the level of its financial commitments. The Trust has no employees and its regular outgoings are minimal. Accordingly, the Trustees have decided to adopt a policy of maintaining a reserve of £25,000. 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 £64,325. This figure represents the net current assets held by the Trust.

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SpringField Gospel Trust Report of the trustees For the year ended 5 April 2021 Statement of Trustee< 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 IUnf(ed Kingdom Generally Accepted Accounting Practice). The law applicable to chartties in England and Wales, thè Charities Act 2011, Charity (Accounts and Reportsl Regulations and the provisions of the Tnjst Deed require the Trustees to prepare financial statements for each financial year which give a tnje 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- Sel￿t 5Ultable accounting policies and then apply them consistently: obseNe the methods and prtnciples in the Charity SORP,. make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the finantial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulation5 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 detertion of fraud and other irreBularities. All transattions have been reviewed and approved by two trustees. On beha of the Board.. Mr H Penson Trustee Date- oz

Independent examiner's report to the trustees For the year ended 5 April 2021

Springfield Gospel Trust

I report to the trustees on my examination of the accounts of the Springfield Gospel Trust for the year ended 5 April 2021.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

BASIS OF THE INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed…................................., date….................................3rd February 2022

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Springfield Gospel Trust

Statement of Financial Activities For the year ended 5 April 2021

Notes
Income and endowments from:
Donations
Contributions from the congregation
Grants received
Gift Aid donations
Contributions to running costs
Contributions to conference costs
Investments
Bank interest
Other
Total
Expenditure on:
Charitable activities
Meeting rooms - running costs
5
Meeting rooms - depreciation
5
Other charitable expenditure
5
Cost of donated services
4
Raising Funds
Loan interest and bank charges
Governance
Independent Examiners Fees
5
Other
Loss on sale of fixed asset held for charity's
own use
Total
Net income/(expenditure)
Gains/(losses) on revaluation of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Income tax refunds - on current year donations
Income tax refunds - on prior year/s donations		 Unrestricted
Designated
Restricted
Total funds
Total funds
funds
funds
funds
2021
2020
£
£
£
£
£
107,800
12,770
0
120,570
109,310
0
0
0
0
0
320
0
0
320
5,530
80
0
0
80
1,382
0
0
0
0
0
1,476
0
0
1,476
2,481
0
0
0
0
0
0
0
0
0
492
15,042
0
0
15,042
0
124,718
12,770
0
137,488
119,195
49,385
0
0
49,385
40,083
76,781
0
0
76,781
71,023
0
5,925
0
5,925
0
5,352
0
0
5,352
6,937
0
0
0
0
0
792
0
0
792
780
0
0
0
0
0
132,310
5,925
0
138,235
118,823
-7,592
6,845
0
-747
372
0
0
0
0
0
-7,592
6,845
0
-747
372
1,430,372
0
0
1,430,372
1,430,000
1,422,780
6,845
0
1,429,625
1,430,372

The notes on pages 12 to 17 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.

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Springtield Gospel Trust Balance Sheet As at 5 April 2021 2021 2020 Notes Fixed assets Tangible fixed assets 1382 400 1079 121 Current assets Debtors: Prepayments and actrued income Gtft aid tax recoverable Loan to subsidiary Cash at bank and in hand 80 1,382 3SO,000 Current liabilities Creditors-. amounts falling due within One year: Loans Accruals and deferred income 792 1.650 Net current assets 385 551 Totsl asset5 less current liabilities 1,446,725 1,464,672 Creditors: amounts falling due after more than one year: Loans 17,100 34,300 Net assets Funds Unrestricted income fund Restricterl funds 1,429,625 1,430,372 Total unrestricted funds The unaudited financial statements were approved and authorised for issue by the Trustees of Springfield Gospel Trust on......... IL￿￿*￿1..........2o22 and signed on their behalf by: Mr H Penson Trustee The notes on pages 12 to 17 form part of these financial statements li

Notes to the financial statements For the year ended 5 April 2021

1.2

1.3

1.4

Springfield Gospel Trust

1. Accounting policies

1.1[Basis of financial statements]

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, and incorporating update bulletins 1 and 2, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.

The functional currency of the charity is sterling (£).

The 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 notes.

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. Gift aid is added to the value of the donation to which it relates.

Donated services are recognised as income and expenditure in the financial statements when organisations or individuals offer their services and support pro bono. The value of these donated services to Springfield 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.

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.

Governance and support costs

Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and costs related to statutory requirements. Governance and support costs are allocated to charitable activities on the basis of capacity used.

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Notes to the financial statements For the year ended 5 April 2021

1.6

1.7

1.8

1.9

Springfield Gospel Trust

1.5 Tangible fixed assets and depreciation

Tangible fixed assets costing more than £250 are stated at cost less depreciation. Freehold land is not depreciated. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as follows:

Freehold buildings 3.33% straight line Improvements to property 8.33% straight line Fixtures and Fittings 8.33% straight line

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.

Funds

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

The designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. There is one unrestricted designated fund that was established by the trustees in this financial year, the Emergency Needs Fund, which was created to provide 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.

Restricted funds arise from donations to the trust, which are made for a specific purpose. Restricted funds can only be used for the purpose for which funds were given.

Preparation of consolidated financial statements

The income of the group does not exceed the threshold of £1million and therefore there is no requirement to prepare group accounts. Further details of the subsidiary are given in note 7.

Going concern

The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. From 18th March 2020, Springfield Gospel Trust ceased using the gospel hall, 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 Covid19 pandemic will have any effect on the ability of the trust to continue as a going concern.

13

Springfield Gospel Trust

Notes to the financial statements For the year ended 5 April 2021

2 Trustees’ remuneration and expenses

No Trustees received any remuneration or other benefits from an employment with the charity. Two Trustees were reimbursed a total of £305 for goods purchased on behalf of the Trust (2020: One Trustee was reimbursed £1,243).

3 Wages and salaries

There are no employees (2020: none).

Donated to:
Chalcraft Gospel Hall Trust
Resources expended
Direct costs
- Donations and Gifts
- Alarm and Fire Safety
- Repairs and Maintenance
- Electrical and Lighting Costs
- Janitorial and Cleaning
- Insurance
- Utilities and Water
- Telephone
- Legal and Professional Costs
- Bibles and Tracts
- Equipment and Software
- Depreciation
Support costs
- Administration and Sundry
Governance
- Independent Examiner Fees		 2021
£
5,352
5,352
Meeting
Other
rooms
charitable
activities
2021
£
£
£
0
5,925
5,925
2,223
0
2,223
25,059
0
25,059
0
0
0
1,981
0
1,981
1,585
0
1,585
13,096
0
13,096
1,468
0
1,468
3,408
0
3,408
0
0
0
565
0
565
49,385
5,925
55,310
76,781
0
76,781
0
0
0
792
0
792
126,958
5,925
132,883		 2020
£
6,937
6,937
2020
£
0
2,516
6,850
5,072
8,775
1,207
10,021
2,016
2,060
442
1,124
40,083
71,023
0
780
111,886

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7.

Springfield Gospel Trust

Notes to the financial statements For the year ended 5 April 2021

6. Tangible Fixed Assets

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||||||| |---|---|---|---|---|---| |Freehold|Freehold|Furniture,|Equipment|Total| |Property and|Land|fixtures &| |Improvements|fittings| |£|£|£|£|£| |Cost| |Brought forward at| |06-Apr-20|1,365,038|22,304|191,145|1,642|1,580,129| |Additions|380,060|0|0|0|380,060| |Disposals|0|0|0|0|0| |At 5 April 2021|1,745,098|22,304|191,145|1,642|1,960,189| |Depreciation| |Brought forward at| |06-Apr-20|370,351|0|130,520|137|501,008| |Disposals|0|0|0|0|0| |Charge for the year|60,715|0|15,929|137|76,781| |At 5 April 2021|431,066|0|146,449|274|577,789| |Net book value| |At 5 April 2021|1,314,032|22,304|44,696|1,368|1,382,400| |At 5 April 2020|994,687|22,304|60,625|1,505|1,079,121|

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Property Details:

Land registry titles of the above properties held are WSX305125 and WSX199813.

Fixed Asset Investments

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||| |---|---| |Shares in group undertakings| |£| |COST| |At 6 April 2020 and 5 April 2021|4|

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SUBSIDIARY UNDERTAKINGS

The following were subsidiary undertakings of the charity:

Name Holding BGH Construction Limited 100%

The aggregate of the share capital and reserves as at 5 April 2021 and the estimated profit or loss for the period ended on that date for the subsidiary undertakings were as follows:

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|||| |---|---|---| |Name|Aggregate of share|Profit/| |capital and reserves|(loss)| |£|£| |BGH Construction Limited|21,519|21,515|

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Springfield Gospel Trust

Notes to the financial statements For the year ended 5 April 2021

8
Analysis of net assets
8.1
Current year
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities		 between funds
funds
£
1,382,400
65,117
-792
-17,100
Unrestricted		 between funds
funds
£
1,382,400
65,117
-792
-17,100
Unrestricted		 funds
£
0
0
0
0
Restricted		 Total
funds
£
1,382,400
65,117
-792
-17,100
Total funds 1,429,625 0 1,429,625
8.2
Prior year
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities		 funds
£
1,079,121
387,201
-1,650
-34,300
Unrestricted		 funds
£
0
0
0
0
Restricted		 Total
funds
£
1,079,121
387,201
-1,650
-34,300
Total funds 1,430,372 0 1,430,372
9
Movement in funds
9.1
Current year
Restricted funds		 £
0
Balance at
6 April 2020		 Incoming
resources
£
0		 Resources
expended
£
0		 Realised/
unrealised
gains and
losses
£
0		 Transfers
between
funds
£
0		 Balance at
£
0
5 April 2021
Unrestricted funds 1,430,372 137,488 -138,235 0 0 1,429,625
Total funds 1,430,372 137,488 -138,235 0 **0 ** 1,429,625
9.2
Prior year
Restricted funds		 £
0
Balance at
6 April 2019		 Incoming
resources
£
0		 Resources
expended
£
0		 Realised/
unrealised
gains and
losses
£
0		 Transfers
between
funds
£
0		 Balance at
£
0
5 April 2020
Unrestricted funds 1,430,000 119,195 -118,823 0 0 1,430,372
Total funds 1,430,000 119,195 -118,823 0 **0 ** 1,430,372

16

Notes to the financial statements For the year ended 5 April 2021

11

Springfield Gospel Trust

10 Transactions with related parties

(i) Loans

At the start of the year there was a loan of £350,000 owing to the Trust from its wholly-owned subsidiary BGH Construction Ltd in connection with the purchase of a property and construction of a new meeting hall.

In January 2021, the property was purchased by Springfield Gospel Trust and BGH Construction Ltd repaid the loan.

During the financial year end 5 April 2021 BGH Construction Ltd paid interest on the loan totalling £15,042.

At the end of the year there was £0 owing to the Trust from its subsidiary trading company.

(ii) Services

During the financial year end 5 April 2021, The Trust did not pay anything to any trustees or related parties for services rendered or supplies procured (2020: £ Nil)

Aggregate donations without conditions totalling £9,400 were received from Trustees and Related Parties during the year.

There have been no other related party transactions during this reporting period that require disclosure (2020: None).

Volunteers

Springfield 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.

17