Charity Registration No: 1170776
Frome Valley Gospel Hall Trust
Report of the trustees and audited financial statements Year ended 5 April 2021
Frome Valley Gospel Hall Trust
Contents
| Pages | |
|---|---|
| Reference and administrative details | 1 |
| Report of the trustees | 2-5 |
| Independent auditor’s report | 6-9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Cash flow statement | 12 |
| Notes to the financial statements | 13-19 |
Frome Valley Gospel Hall Trust
Report of the trustees (continued) For the year ended 5 April 2021
| Charity name | Frome Valley Gospel Hall Trust |
|---|---|
| Registered charity number | 1170776 |
| Trustees | Tristan Brady – Chairman |
| Peter Davis | |
| David Huntley | |
| Glenn Smith | |
| Patrick Turner | |
| Treasurer | Patrick Turner |
| Principal address | 8 Florence Park |
| Almondsbury | |
| Bristol | |
| BS32 4HE | |
| Independent auditor | Saffery Champness LLP |
| Midland House | |
| 2 Poole Road | |
| Bournemouth | |
| BH9 2SG | |
| Bankers | CAF Bank |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4TA | |
| Solicitors | Watson Watson Solicitors |
| Mercury House | |
| Shrewsbury Business Park | |
| Sitka Dr | |
| Shrewsbury | |
| SY2 6LG |
Page 1
Frome Valley Gospel Hall Trust
Report of the trustees (continued) For the year ended 5 April 2021
The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 13 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 7[th] June 1982, most recently amended by Deed of Variation dated 22[nd] August 2014. The Trust was registered with the Charity Commission for England and Wales on 15[th] December 2016 under Charity Registration Number: 1170776
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 1. 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 4 Gospel halls and Trustees are chosen from among the regular congregation of the hall[ s ]. 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.
The body responsible for efficient management of the Charity is the Board of Trustees. The Trustees meet throughout the year when decisions and policies concerning the Charity are discussed.
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 Greenfield 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. This includes fraud and financial control risk for which they have a formal policy in place that is reviewed on an annual basis.
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.
Page 2
Frome Valley Gospel Hall Trust
Report of the trustees (continued) For the year ended 5 April 2021
Public benefit
The Trustees confirm that they have complied with their duty under section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance to charities on public benefit.
Main activities and achievements
The Trust provides and maintains 4 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.
During the financial year, the Trustees concluded that the gospel halls owned by Ashgrove Gospel Hall Trust, Siston Gospel Hall Trust and Springfield Gospel Hall Trust should be donated to Frome Valley Gospel Hall Trust for nil consideration pursuant to the power contained in the Trust Deed, as they considered it would be in the best interests of the congregation if the management and administration of gospel halls was consolidated. The donations were completed on 27[th] January 2021. Also, we have worked on a new Gospel Hall project at The Street.
Plans for Future Periods
From 18th March 2020 Frome Valley Gospel Hall Trust restricted 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 these Gospel Halls again once the general lockdown is lifted and it is deemed safe to do so. The trustees do not consider that the Covid-19 pandemic will have any effect on the ability of the trust to continue as a going concern.
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 180 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 preaching’s, 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 free 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 assist Rapid Relief Team, a charity that provides support in disasters.
Page 3
Frome Valley Gospel Hall Trust
Report of the trustees (continued) For the year ended 5 April 2021
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:
-
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).
-
We regularly go out from our homes to preach on the streets, to distribute Christian literature and engage with the wider community (including former Brethren) in order to present eternal salvation, available to all men by faith in Jesus Christ. (2 Tim 4:2).
-
We seek as members of the public to lead Christian lives as husbands and wives, parents, children, employers, employees and neighbours. (Col 3:22-25, Col 4:1).
-
The preservation and protection of the family unit is fundamental and children are prized as a blessing from God. (Psalm 127:3-5). The elderly are valued members of the community, for whom both their family and the wider community are expected to care.
-
Holy Scripture commands us to be good 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).
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.
Financial review
In the year ended 5 April 2021, the Trust had a significant surplus of incoming resources over resources expended due to the donation of Gospel Halls during the year. Total voluntary income received this year was £1,316,699 compared to £31,857 in the previous year.
We continue to look for more meeting rooms to further expand the Trust.
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. The trust is seeking to build up funds for future meeting room projects. 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 £nil due to the current liabilities exceeding the current assets. However, the trustees consider this to be a short-term position due to the loans and for the reserves to recover in due course.
Page 4
Frome Valley Gospel Hall Trust Report of the trustees (continued) For the year ended 5 April 2021 Statement of Tru5tees' responsibilltles The Trustees are responsible for preparing the Report of the Trustees and the finantial statements in accordance with applicable law and United Kingdom Accounting Standards IL*nited Kingdom Generally Accepted Accounting Practice). The law applicable to charitie5 in England and Wales, the Charities Art 2011, Charity (Accounts and Reports) Regulations and the piovisions of the Trust Deed require 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 incomin 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 selett suitable accounting policies and then apply them consistentlv,. obseNe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basi5 unless it is inappropriate to presume that ihe charity will continue In business. The Trustees are responsible for keeping proper accounting records whlch disclose with reasonable accuracy at any lime the financial position of Ihe Charity and enable them to ensure thai 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.. Patrick Turner Trustee Date.. 3 February 2022 Page 5
Frome Valley Gospel Hall Trust
Independent auditor’s report to the trustees For the year ended 5 April 2021
Opinion
We have audited the financial statements of Frome Valley Gospel Hall Trust for the year ended 5 April 2021 which comprise the Statement of Financial Activities, Balance Sheet, Cash flow statement 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:
-
give a true and fair view of the state of the charity’s affairs as at 5 April 2021 and of its incoming resources and application of resources for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (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.
Page 6
Frome Valley Gospel Hall Trust
Independent auditor’s report to the trustees For the year ended 5 April 2021
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.
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:
-
the information given in the Trustees’ Annual Report is inconsistent in any material respect with the financial statements; or
-
the charity has not kept sufficient accounting records; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees’ Responsibilities Statement set out on page 5, 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.
.
Page 7
Frome Valley Gospel Hall Trust
Independent auditor’s report to the trustees For the year ended 5 April 2021
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.
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 noncompliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Page 8
Frome Valley Gospel Hall Trnst Independent audltorfs report to the trustees For the year ended 5 April 2021 Use of our report This report is made solely to the charitvs trustees, as a body, in actofdance with Part 4 of the Charitie5 (Accounts and Reports) Regulations 2(X)8. Our audit work ha5 been undertaken so that we might state to the trustees those matters we are required to slate to them in an auditorfs report and for no other purpose. To the fullest extent permitted bylaw, 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. Saffery Champness LLP Chartered Accountants Statutory Auditors Midland House 2 Poole Road Bournemouth BH2 5QY Date: 4 February 2022 Saffery Champness LLP 15 eligible io act ès an auditor in term5 of section 1212 of the Companles Act 2006. Pa8e Y
Frome Valley Gospel Hall Trust
Statement of financial activities For the year ended 5 April 2021
| Notes Income and endowments from: Donations and legacies: Collections Contributions from the congregation Gift Aid donations Income tax refunds Donated services 4 Other donations Total Expenditure on: Charitable activities Running meeting rooms Cost of donated services 4 Total 5 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds Restricted Funds Total Funds 2021 Total Funds 2020 £ £ £ £ 378 88,345 88,723 - - 21,231 21,231 - - 5,307 5,307 - 631 - 631 31,857 1,200,807 - 1,200,807 - |
|---|---|
| 1,201,816 114,883 1,316,699 31,857 |
|
| 26,198 - 26,198 - - - - 21,698 |
|
| 26,198 - 26,198 21,698 |
|
| 1,175,618 114,883 1,290,501 10,159 381,248 7,954 389,202 379,043 |
|
| 1,556,866 122,837 1,679,703 389,202 |
The notes on pages 13 to 19 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.
Page 10
Frome Valley Gospel Hall Trust
Balance sheet As at 5 April 2021
| Notes Fixed assets Tangible fixed assets 6 Current assets Debtors: Prepayments and accrued income Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year: Loan Accruals and deferred income Net current (liabilities)/ assets Total assets less current liabilities Net assets Funds Unrestricted funds Restricted funds Total funds 7 |
2021 £ 1,711,569 1,711,569 5,307 17,827 23,134 50,000 5,000 55,000 (31,866) 1,679,703 1,679,703 1,556,866 122,837 1,679,703 |
2020 £ 371,213 |
|---|---|---|
| 371,213 - 17,989 |
||
| - - |
||
| - 17,989 |
||
| 389,202 | ||
| 389,202 | ||
| 381,248 7,954 |
||
| 389,202 |
The unaudited financial statements were approved and authorised for issue by the Trustee of Frome Valley Gospel Hall Trust on 3 February 2022 and signed on their behalf by
Patrick Turner Trustee
The notes on pages 13 to 19 form part of these financial statements.
Page 11
Frome Valley Gospel Hall Trust
Cash flow statement As at 5 April 2021
| Net cash absorbed by operating activities (see note) Cash flows from investing activities Purchase and development of property Net cash (used in)/provided by investing activities Cash flows from financing activities New borrowings Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at 6 April 2020 Cash and cash equivalents at 5 April 2021 NOTE Reconciliation of net income to net cash flow from operating activities Net income for the reporting period as per the statement of financial activities Adjustments for Depreciation Non-cash donations (Increase) in debtors Increase in creditors Net cash provided by operating activities Cash and cash equivalents Cash at bank |
2021 £ 108,056 (158,218) (158,218) 50,000 50,000 (162) 17,989 17,827 1,290,501 18,669 (1,200,807) (5,307) 5,000 108,056 17,827 |
2020 £ 17,293 - |
|---|---|---|
| - - |
||
| - | ||
| 17,293 696 |
||
| 17,989 | ||
| 10,159 7,134 - - |
||
| 17,293 | ||
| 17,989 |
Page 12
Frome Valley Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2021
1. Accounting policies
1.1 Basis of financial statements
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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 note(s).
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. 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 Frome Valley Gospel Hall 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
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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Frome Valley Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2021
- 1.5 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. 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 2% straight line Temporary buildings 20% straight line Fixtures and Fittings 10% straight line
1.6 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.
1.7 Funds
The general unrestricted fund is free for the Trustees to use for any purposes in furtherance of the trust’s charitable objects.
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.
The restricted fund is donations given specifically for the purpose of constructing new gospel halls.
1.8 Preparation of consolidated financial statements
The Charity does not have a trading subsidiary.
1.9 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 Frome Valley Gospel Hall Trust restricted using the gospel halls which it operates due to the global Covid-19 pandemic and the general lockdown imposed by the government. The trustees do not consider that the Covid-19 pandemic will have any effect on the ability of the trust to continue as a going concern.
2. Trustees’ remuneration and expenses
No Trustees received any remuneration or other benefits from an employment with the charity and no Trustees were reimbursed for expenses (2020: None).
3. Wages and salaries
There are no employees (2020: none).
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Frome Valley Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2021
| 4. Donated services Received from: Greenfield Gospel Hall Trust Gifts 5. Resources expended Direct costs - Repairs and Maintenance - Rates - Rent - Depreciation - Legal and professional costs - Other costs Support costs Governance |
2021 £ 631 - 631 2021 £ 535 326 699 18,669 969 - - 5,000 26,198 |
2021 £ 631 - 631 2021 £ 535 326 699 18,669 969 - - 5,000 26,198 |
2020 £ 12,313 19,544 |
|
|---|---|---|---|---|
| 31,857 | ||||
| 2021 £ 535 326 699 18,669 969 - - 5,000 26,198 |
2020 £ 559 514 996 7,134 6,065 6,142 - 288 |
|||
| 21,698 |
Governance costs include £nil (2020: £288) in respect of independent examiner’s fees, and £5,000 (2020: £nil) in respect of audit fees.
Page 15
Frome Valley Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2021
6. Tangible fixed assets
| Cost Brought forward at 6 April 2020 Additions At 5 April 2021 Depreciation Brought forward at 6 April 2020 Charge for the year At 5 April 2021 Net book value At 5 April 2021 At 5 April 2020 |
Freehold Property and Refurbishment £ 442,563 1,357,253 1,799,816 71,350 18,545 89,895 1,709,921 371,213 |
Furniture, fixtures & fittings £ 6,942 1,772 8,714 6,942 124 7,066 1,648 - |
Total £ 449,505 1,359,025 |
|---|---|---|---|
| 1,808,530 | |||
| 78,292 18,669 |
|||
| 96,961 | |||
| 1,711,569 | |||
| 371,213 |
Property Details:
Land registry titles of the above property held are GR333162, GR305497, AV179177 and AV220964.
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Frome Valley Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2021
7. Analysis of net assets between funds
7.1 Current year
| Tangible fixed assets Current assets Current liabilities Total funds |
Unrestricted Funds £ 1,554,316 7,550 (5,000) 1,556,866 |
Restricted Funds £ 157,253 15,584 (50,000) 122,837 |
Total Funds £ 1,711,569 23,134 (55,000) |
|---|---|---|---|
| 1,679,703 |
7.2 During the year the trust received the following properties donated from affiliated trusts for nil consideration:
-
136 Badminton Road, Coalpit Heath, Bristol BS36 2SZ: Value £500,000
-
Lower Station Road, Staple Hill, Bristol, BS16 4LU: Value £350,000
-
Springfield Road, Mangotsfield, Bristol, BS16 9BN: Value £350,000
7.3 Prior year
| Tangible fixed assets Current assets Current liabilities Total funds |
Unrestricted Funds £ 371,213 10,035 - 381,248 |
Restricted Funds £ - 7,954 - 7,954 |
Total Funds £ 371,213 17,989 - |
|---|---|---|---|
| 389,202 |
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Frome Valley Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2021
8. Movement in funds
8.1 Current year
| Restricted funds Capital Project fund Unrestricted funds Total funds Prior year Restricted funds Capital Project fund Unrestricted funds Total funds |
Balance at 6 April 2020 Incoming resources Resources expended Realised/ unrealised gains and losses Balance at 5 April 2021 £ £ £ £ £ 7,954 114,883 - - 122,837 |
|---|---|
| 381,248 1,201,816 26,198 - 1,556,866 |
|
| 389,202 1,316,699 26,198 - 1,679,703 |
|
| Balance at 6 April 2020 Incoming resources Resources expended Realised/ unrealised gains and losses Balance at 5 April 2021 £ £ £ £ £ - 7,954 - - 7,954 |
|
| 379,043 23,903 21,698 - 381,248 |
|
| 379,043 31,857 21,698 - 389,202 |
- 8.2 Prior year
Capital Project fund – this fund is available for specific Capital Projects to which the congregation have donated.
9. Transactions with related parties
During the year, the Trust received, by way of donation, the Siston Gospel Hall Trust. Glenn Smith, a trustee of Frome Valley Gospel Hall Trust is also a trustee of the Siston Gospel Hall Trust.
During the year, the Trust received £14,000 (2020: £nil) from Plantcare, a company in which Peter Davis is a director.
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Frome Valley Gospel Hall Trust
Notes to the financial statements For the year ended 5 April 2021
10. Volunteers
Frome Valley Gospel Hall Trust relies entirely on volunteers to carry out the management, administration and general maintenance work. The Trust has no paid staff or paid Trustees.
11. Capital commitments
There were capital commitments of £133,319 at 5 April 2021 (2020: £nil) which relate to the development of a Gospel Hall in Alveston.
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