Charlty number." 1166831 THE PORTSDOWN GOSPEL HALL TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE PORTSDOWN GOSPEL HALL TRUST CONTENTS Page Reference and administratlve details of the Charity, its Trustees and advisers Trustees, report Independent examiner's report statement of financial activities Balance sheet Notes to the financial stataments 10-20
THE PORTSDOWN GOSPEL HALL TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025 Trustees Lauren Moggach, Chair Adrian Smallridge, Treasurer Jared Moggach Phil Spencer Roy Stone Charity registered number 1166831 Principal office Brethren Gospel Hall Havant Road Homdean Waterlooville Hampshire P08 ODR Accountants Baldwin Scofield Ltd Chartered accountants 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU Bankèrs Lloyds Bank plc PO Box 1000 Andover BX1 1LT Page 1
THE PORTSDOWN GOSPEL HALL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their annual report together with the financial statements of the Charity for the 6 April 2024 to 5 April 2025. Objectives and activities • Policles and objectives The Trust has the following charitable purposes.. 1. The advancement of the Christian religion for the public benefit including by the carrying on of the Servi of God in accordan 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") whose core dcctrine and whose proper practices in furtheran of some of the aspects of that core doctrine ("Faith in Practice.) is summarised in the two Schedules to the New Trust Deed which is contained in the Second Schedule to the Deed of Variation dated 15 August 2014. 2. Any other charitable purposes connected with Brethren In setting objectives and planning for activities, the Trustees have given due consideration to general guidan published by the Charity Commission relating to public benefit, including the guidance 'Public benefit= running a charity (PB2)'. • Activities undertaken to achleve objectives The Trust provides and maintains gospel halls for the religious activities of Christians often referred to as 'Brethren'. Details of the origins, teachings and way of life of the Brethren can be found on their website www.plymouthbrethrenchristianchurch.org. The charity also maintains particular links with Waterlooville Gospel Hall Trust, with which it shares members of its congregation. The Trusys main achievement this year has been to open the hall to the congregation and visitors and encouraging good works by them which benefit the wider community, as described below.. Page 2
THE PORTSDOWN GOSPEL HALL TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Objectivos and activities (continued) Main activities undertaken to further the Charlty's purposes for the public beneflt The trustees of The Portsdown Gospel Hall Trust confi'm 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, examples being supporting food banks, street preaching in areas local to the meeting halls, distribution of gospel booklets. The life of a Chrlstian The following points are an extract from Schedule 1 of the Trust Deed. They outline the way of life of the Brethren as supported by the Holy Scriptures and how it contributes to public benefit. 1. We seek and are encouraged to live exemplary lives in all our relationships with others in the wider community (including former Brethren), in accordance with the teachings of Holy Scripture (1 Tim 2.'2). 2. We regularly go out from our homes to preach on the streets, to distribute Christian literature and engage with the wider community (including fomier Brethren) in order to present eternal salvation, available to all men by faith in Jesus Christ. (2 Tim 4.2). 3. We seek as members of the public to lead Christian lives as husbands and wives, parents, children, employers, employees and neightours. (Col 3'.22-25, Col 4.'1). 4. The preservation and protection of the family unit is fundamental and children are prized as a blessing from God. (Psalm 127.'3-51. The elderly are valued members of the community, for whom both their family and the wider community are expected to care. 5. Holy Scripture commands us to be gocKI neighbours to others, and deal with all other people {including former Brethren) openly, honestly and fairly and consistent with these principles, we should give our time, talents and money to assist those in need in the wider community, in so far as reasonable given our abilities and our available resources. (Matt 7.'12, Matt 22.39, Eph 4.28). • Wider Network The Trustees maintain infomial 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 Waterlooville Gospel Hall Trust, with which it shares members of its congregation. Page 3
THE PORTSDOWN GOSPEL HALL TRUST TRUSTEES, REPORT {CONTINUED} FOR THE YEAR ENDED S APRIL 2025 Achievements and performance • Main activities of the Charity Meetings MtingS held at the Gospel halls would normally include the Lord's Supper (Communion). The meetings are attended by the regular congregation and most are open to other properly disposed visitors. The noti 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 halls and visitors are fr to help themselves. 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 addition to street preaching, members of the congregation volunteer with Rapid Relief Team, another charity, in support of the emergency services dealing with crisis situations with the provision of food packs etc. Financial review Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial ststements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. • Reserves policy The Trustees have considered the level of reserves they wish to retsin, appropriate to the charity's needs. This is based on the charity's size and the level of financial cofflmitments. The Trustees consider that no reserves policy is needed as expenditure is very minimal and infrequent. 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. Free reserves at the year end were £Nil (2024.. £Nil). • Financial risk management objectives and policies 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. Page 4
THE PORTSDOWN GOSPEL HALL TRUST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED S APRIL 2025 • Principal funding In the year ended 5 April 2025 the Trust had a deficit of incoming resources over resources expended amounting to £27,492 {2024'. surplus £398,978). Total voluntary income received this year was £51,968 compared to £460,291 in the previous year. All funds held were unrestricted funds. Structure, governance and management Constitution The Portsdown Gospel Hall Trust is a registered charity, number 1166831, and is constituted under a Trust deed. The Portsdown Gospel Hall Trust is constituted by a Deed of Trust dated 25 February 1999, amended by various Deeds and most recently by Deed of Variation dated 15 August 2014. The Trust was registered with the Charity Commission for England and Wales on 29th April 2016. • Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees 0 are elected and co-opted under the tems of the Trust deed. The Trustees who have served during the year and since the year end are set out on page 1. None of the Trustees, nor any person connected with them, reiVed any remuneration or expenses from the Charity in the year ended 5 April 2024 (2024.. £Nil). Trustees are selected according to their experience in specialised fields and are expected to use that experience in furthering the objects of the Trust. Checks are made to ensure that there are no legal or other barriers to their appointment. New Trustees are nominated by the existing trustees and appointed by unanimous resolution of the Congregation. Incoming Trustees are made fully aware of their responsibilities by the existing Trustees who ensure that new Trustees read the Trust Deed and the relevant guidance for trustees published by the Charity Commission. The Trust has been operating kn Gospel halls with four more added rentlY and Trustees are chosen from among the regular congregation of the halls. Plans for future periods 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 concem. Page 5
THE PORTSDOWN GOSPEL HALL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2025 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AcTrpted Accounting Practi1. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial lch give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resours, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust dd. 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 at least trNo trustees. The financial statements have been approved by order of the members of the board of Trustees on 23 January 2026 and signed on their behalf by.. Lauren Moggach (Chair of Trustees) Page 6
THE PORTSDOWN GOSPEL HALL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED S APRIL 2025 Independent examiner's report to the Truste6s of The Portsdown Gospel Hall Trust ('the Charity,) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2025. Responsibilities and basis of report As the Trustees of the Charity you are Esponsible for the preparation of the accounts i n accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5){b} of the 2011 Act. Independent examlner's ststement Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Pra1 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord with those cords. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no cOnmS 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. 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. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent examinels report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity an the Charity's Trustees as a body, for my work or for this report. Signed: Dated.. 23 January 2026 Nicholas M Baldwin BA{Econ) FCA DChA Page 7
THE PORTSDOWN GOSPEL HALL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Incom& from: Donations and legacies Investments 51,968 51,968 460,291 Total income 51,976 51,976 460,300 Expenditure on: Charitable activities 79,468 79,468 61,322 Total expenditure 79,468 79,468 61,322 Total transfers Net movement in funds (27.492) (27,492 398, 978 Reconciliatlon of funds: Total funds brought forward Net movement in funds 2,789,011 (27,492) 2.789,011 (27,492) 2,390, 033 398,978 Total funds carriod forward 2,761,519 2,761,519 2, 789,011 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 10 to 20 form part of these financial statements. Page 8
THE PORTSDOWN GOSPEL HALL TRUST BALANCE SHEET AS AT S APRIL 2025 2025 2024 Note Fixed assets Tangible assets Current assets 2,761.996 2, 789,436 Cash at bank and in hand 783 775 783 775 Current liabilities Creditors: amounts falling due within one year 10 (1,260) (1,200) Net current liabilities {477) (425) Total net assats 2.761,519 2,789,011 Charlty funds Restricted funds Unrestricted funds 12 General funds 12 2,761,519 2,789,011 Total unrestricted funds 12 2,761,519 2.789.071 Total funds 2,761,519 2,789,011 The financial statements were approved and authorised for issue by the Trustees on 23 January 2026 and signed on their behalf by- Mo Lauren Moggach Chair of Trustees The notes on pages 10 to 20 form part of these financial ststements. Page 9
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2025 General information The Portsdown Gospel Hall Trust is a charity registered with the Charity Commission in England & Wales. number 1166831, and is constituted under a Trust deed. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SQRP (FRS 102) - Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP {FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Portsdown Gospel Hall 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 othemise stated in the relevant accounting policy. 2.2 Income All income is recognised On the Charity has entitlement to the income, it is probable that the income will be received and the amount of income e1Vable can be measured reliably. Where the donated good is a fixed asse( it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity lch is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable 8¢tivities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page10
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies (continued) 2.3 Expenditure (continued) All expenditure is inclusive of irrecoverable VAT. 2.4 Interest receivable Interest on funds held on deposit is included when re1vable and the amount can be measured reliably by the Charity,. this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Tangible fixod assets and depreclatlon Tangible fixed assets costing £NIL or more are capitslised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After cognitIon, under the revaluation model, tangible fixed assets whose fair value can be measured reliably shall be carried at a revalued amount, being their fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting date. Fair values are determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers. If there is no market-based evidence of fair value because of the specialised nature of the tangible fixed asset and it is rarely sold, except as part of a contributing business, a Charity may need to estimate fair value using an income or depreciated replacement cost approach. Gains and losses on revaluation are recognised in the Statement of financial activities, with a separate revaluation reserve being shown in the Statement of funds note. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight4ine method. Depreciation is provided on the following basis.. Freehold property 20h on buildings representing 213 of total proFerty value Fixtures and fittings 10/0 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page11
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting pollcies (continued) 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best ests'mate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.8 Financlal instruments The Charity only has financial assets and financial 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 method. 2.9 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlons and18gacies Unrestricted funds 2025 Total funds 2025 Donation in kind and donated ServIS 51,968 51,968 Unrestricted funds 2024 Total funds 2024 Donation in kind and donated services 460, 291 460, 297 Page 12
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Investment income Unrostricted funds 2025 Total funds 2025 Investment income - bank interest Unrestricted funds 2024 Total funds 2024 Investment income - bank interest Analysis of expenditure on charltable activities Summary by fund type Unrestrlcted funds 2025 Total 202S Direct costs of charitable activities 79,468 79,468 Unrestricted funds 2024 Total 2024 Direct costs of charitable activities 67.322 61,322 Analysis of expenditure by activities Aclivitios undertaken directly 2025 Support costs 2025 Total funds 2025 Direct costs of charitable activities 78,208 1,260 79,468 Page 13
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of expenditure by activities (continued) Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Direct costs of charitable activities 53,241 8,081 61,322 Analysis of direct costs Mission halls 2025 Totsl funds 2025 Depreciation Telephone utilities Airconditioning Health and safety Insuran Repairs and maintenance Professional fees Other disbursements 39,440 167 39,440 167 9,204 227 3,953 4,817 13,676 6,623 101 3,953 4,817 13,676 6,623 101 78,208 78,208 Total funds 2024 Mission halls 2024 Depreciation Telphone Utilities Airconditioning Health and safety Insuran Repairs and maintenance Bank charges 34,914 322 9,241 456 2,078 5,088 1,117 25 34,974 322 9,241 456 2, 078 5, 088 1.117 25 53,241 53,241 Page 14
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of expenditure by activities (continued) Analysis of dlrect costs (continued) Analysis of support costs Support costs 2025 Total funds 2025 Governan costs 1,260 1.260 Support costs 2024 Total fvnds 2024 Govemance costs 8,081 8,081 Indepondent examlnefs remuneration 2025 2024 Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts 1,260 1.200 Trustses. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 5 April 2025, no Trustee expenses have been incurred (2024 - £NIL). Page15
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Tangible fixed assets Freehold Fixtures and property fittings Total Cost or valuation At 6 April 2024 Additions 2,447,148 428.483 2,447.148 440,483 12,000 At 5 April 2025 2,875,631 12.000 2.887,631 Depreciation At 6 April 2024 Charge for the year 86,195 38,342 86,195 39,440 1,098 At 5 April 2025 124,537 1,098 125,635 Net book value At 5 April 2025 2,751.094 10,902 2,761,996 At 5 Apnl 2024 2,360,953 2,360,953 The freehold properties owned by the charity at 5 April 2023 were valued by l M Power MRICS of Cyan Power Limited during July and October 2023. The trustees are of the opinion that the values of the properties at the year end were not materially different to the professional valuations. The trustees revalued two other properties of the charity as of 5 April 2023 to a total of £850,000 which represented a revaluation amount over the net book value at the balance sheet date of £455.148. The charity purchased a property at 1 Bowes Hill. Rowlands Castle, P09 6BP (Land Registy Title HP371.101) on 17 November 2023 for a sum of £426.198. The charity also owns 6 other properties with the Land Registry Titles SH22271, HP246146, HP162316. HP467419, HP796526, and HP866112. 10. Creditors: Amounts falling due within one year 2025 2024 Accruals and deferred income 1,260 1,200 Page 16
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 202S 11. Financial instruments 2025 2024 Financlal assets Financial assets measured at fair value through income and expenditure 783 775 Financial assets measured at fair value through income and expenditure comprise bank balances. Page 17
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 12. Statement of funds Statement of funds - current year Balance at 6 April 2024 Balance at S April 2025 Income Expenditure Unrestricted funds General fund 2.789,011 51,976 (79,468) 2,761,519 Statement of funds - prior year Balance at l Apnl 2023 Balance at Inwme Expenditure 5 April 2024 Unrestricted funds General fund Revaluation reseNe 1, 934, 885 455, 148 460.300 (61,322) 2,333, 863 455, 148 2,390,033 460,300 (61,322) 2, 789, Q11 The charity follows the accounting policies adopted by the Plymouth Brethren Christian Church. In prior years the charity had been depreciating freehold properties at the total value over 50 years. in error. The standard policy is to not depreciate land which is estimated to be one third of the value of freehold properties and depreciate buildings over 50 years. Accumulated depreciation has been restated in accordance with this policy which has resulted in a prior year adjustment of £17,680 representing an overstatement of depreciation up to 5 April 2022. Page 18
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 13. Summary of funds Summary of funds - current year Balance at 6 April 2024 Balance at S April 2025 Income Expenditure General funds 2.789,011 51,976 (79,468) 2.761,519 Summary of funds - prior year Balance at l April 2023 Balance af Income Expenditure 5 April 2024 General funds 2.390, 033 460,300 (61.322) 2. 789,011 14. Analysis of net assets between funds Analysls of net assets between funds- current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year 2,761,996 783 (1,260) 2.761,996 783 11,260) Total 2,761,519 2,761,519 Analysis of net assets between funds - prior year Unrestricted Endowment funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 2, 789, 436 775 2, 789.436 7T5 (1,200) (l,2L) Total 2, 789,011 2,789,011 Page 19
THE PORTSDOWN GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 15. Related party transactions The Charity has not entered into any related paty transaction during the year, nor a there any outstanding balanS owing beLWeen related parties and the Charity at 5 April 2025. Page 20