2024-04-05-accounts

Charity Registration No: 1170776

Frome Valley Gospel Hall Trust

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

Frome Valley Gospel Hall Trust

Contents

	Pages
Reference and administrative details	2
Report ofthetrustees	3-6
Independent examiner’s report	7
Statement offinancial activities	8
Balance Sheet	9
Notestothefinancialstatements	10-17

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Frome Valley Gospel Hall Trust

Reference and administrative details

For the year ended 5 April 2024

Charityname	Frome Valley Gospel Hall Trust
Registered charitynumber	1170776
Trustees	Tristan Brady (Chair)
	Peter Davis
	Richard Smith
	Glenn Smith
	DouglasTurner
Treasurer	DouglasTurner
Principal address	45 Charnhill Drive
	Mangotsfield
	Bristol
	BS16 9JR
Independent examiner	Saffery LLP
	Midland House
	2 Poole Road
	Bournemouth
	BH2 5QY
Bankers	CAF Bank
	25 Kings Hill House
	Kings Hill
	West Malling
	Kent
	ME19 4TA
Solicitors	Watson Watson Solicitors
	Mercury House
	Shrewsbury Business Park
	Sitka Drive
	Shrewsbury
	SY26LG

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Frome Valley Gospel Hall Trust

Report of the Trustees For the year ended 5 April 2024

The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 10-11 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" June 1982, most recently amended by Deed of Variation dated 22° August 2014. The Trust was registered with the Charity Commission for England and Wales on 15 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 2. None of the Trustees, nor any person connected with them, received any remuneration or expenses from the Charity in the year ended 5 April 2024 (2023: £nil).

The Trust operates 8 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 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.

Objectives and activities

Objectives and aims

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

Public benefit

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

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Frome Valley Gospel Hall Trust

Report of the Trustees

For the year ended 5 April 2024

Main activities and achievements

The Trust provides and maintains 8 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 achievements this year have been to actively pursue the future needs of the congregation in requiring more Gospel halls. There is currently 3 potential sites being investigated for planning, with 1 site bought by the Trust.

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 concern.

Meetings

Meetings held at the Gospel halls would normally 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 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 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 the Rapid Relief Team charity, a charity that provides support in disasters and other humanitarian needs, such as food boxes to schools, catering at local community charitable events and emergency services response incidents.

In carrying out this work, the congregation considers itselfto 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:

• e Weseek 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).

• e 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).

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Frome Valley Gospel Hall Trust

Report of the Trustees

For the year ended 5 April 2024

• e 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).

• e 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.

• e 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

Financial position

In the year ended 5 April 2024, the Trust had a modest surplus of incoming resources over resources expended. Total voluntary income received this year was £198,508 compared to £1,596,171 in the previous year.

The Trust envisages that another 2-3 new gospel halls will be required, with the sale of at least 1 existing gospel hall in the coming years and also the sale of a house and land that is part of the Wotton Road site. The Trust have been notified of a legacy due with amount and timescale to be confirmed upon sale of estate.

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 no significant reserves other than a nominal 6 months expenditure amount of approximately £10,000. 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 f£nil due to the current liabilities exceeding the current asset. However, the trustees consider this to be a short-term position due to the loans and expect the reserves to recover in due course.

Statement of Trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

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Frome Valley Gospel Hall Trust

Report of the Trustees For the year ended 5 April 2024

• select suitable accounting policies and then apply them consistently;

• • observe the methods and principles in the Charities SORP (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
• • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that 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 Charities (Accounts and Reports) Regulations 2008 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:

Douglas Turner Trustee

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4 February 2025

Frome Valley Gospel Hall Trust

Statement of financial activities For the year ended 5 April 2024

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Unrestricted|Designated|Restricted|Total|Funds|Total Funds| |Funds|Funds|Funds|2024|2023| |Notes|£|£|£|£|£| |Income|and|endowments|from:| |Donations and legacies:| |Collections|-|-|-|-|-| |Contributions from|the|27,041|123,443|150,484|126,360| |congregation| |Gift|Aid|donations|-|-|38,419|38,419|27,069| |Income tax|refunds|-|-|9,605|9,605|6,767| |Donated|services|4|-|-|-|-|-| |Payroll|giving|-|-|-|“|m| |Other|donations|-|-|-|1,406,029| |Grants|— donated|services|29,946| |Investments| |Bank|interest|398|-|=|398|197| |Rent|received|6,000|-|-|6,000|3,000| |Other| |Profit|on|sale|of|assets|663|-|-|663|-| |Insurance|claims|3,595|-|-|3,595|-| |Total|37,697|-|171,467|209,164|1,599,368| |Expenditure|on:| |Charitable|activities| |Running|meeting|rooms|5|128,909|-|17,893|146,802|103,012| |Cost|of donated|services|4|$1|-|-|51|29,946| |Total|128,960|-|17,893|146,853|132,958| |Net|income/(expenditure)|(91,263)|-|153,574|62,311|1,466,410| |Gains/(losses)|on|revaluation|of|-|-|-|-|-| |fixed|assets| |Net movement|in|funds|(91,263)|-|153,574|62,311|1,466,410| |Reconciliation|of funds| |Total funds|brought forward|4,464,433|-|518,077|4,982,510|3,516,100| |Total funds|carried|forward|4,373,170|-|671,651|5,044,821|4,982,510|

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The notes on pages 10 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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Frome Valley Gospel Hall Trust

Balance sheet

As at 5 April 2024

		2024	2023
	Notes	£	£
Fixed assets
Tangible fixed assets	6	5,786,286	5,493,068
Current assets
Debtors:
Prepayments and accrued income		35,569	22,283
Cash at bank and in hand		172,766	218,659
		208,335	240,942
Current liabilities
Creditors: amounts fallingdue within one year:
Loan		945,000	740,000
Accruals and deferred income		4,800	11,500
Net current (liabilities)/assets		(741,465)	(510,558)
Total assets less current liabilities		5,044,821	4,982,510
Creditors: amounts fallingdue aftermorethan one year:
Loan		=	-
Net assets		5,044,821	4,982,510
Funds
Unrestricted income fund		4,373,170	4,464,433
Restricted funds		671,651	518,077
Totalfunds	7	5,044,821	4,982,510

The unaudited financial statements were approved and authorised for issue by the Trustee of Frome Valley Gospel Hall Tryst on (Ate Febrvany 2025 and signed on their behalf by

Douglas Turner Trustee

The notes on pages 10 to 17 form part of these financial statements

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Frome Valley Gospel Hall Trust

Notes to the financial statements For the year ended 5 April 2024

1. Accounting policies

2. 1.1 Basis of preparation financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Second edition of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and UK Generally Accepted 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).

12 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.

• 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

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Frome Valley Gospel Hall Trust

Notes to the financial statements

For the year ended 5 April 2024

• 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.

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

1.9 Significant estimates and judgements The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that havea significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

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 (2023: None).

3. Wages and salaries

There are no employees (2023: none).

4. Donated services

• Donated to: 2024 2023 £ £

• Greenfield Gospel Hall Trust 51 29,946 51 29,946

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Frome Valley Gospel Hall Trust

Notes to the financial statements

For the year ended 5 April 2024

5. Resources expended

		Meeting		Meeting
		rooms	2024	Rooms
		£	£	£	£
Direct costs
-	Repairs and	25,333	25,333	7,314	7,314
	maintenance
-	Insurance	5,573	5,573	6,532	6,532
-	Rates	2,262	2,262	-	-
-	Light and heat	16,673	16,673	10,021	10,021
-	Rent	-	-	6,597	6,597
-	Telephone	766	766	24	24
-	Depreciation	87,881	87,881	65,672	65,672
-	Legal and professional	-	-	280	280
	costs
Support costs		60	60	72	72
Governance		8,254	8,254	6,500	6,500
		146,802	146,802	103,012

Governance costs include £8,254 (2023: £6,500) in respect of independent examiner’s fees, of which £600 relates to prior year audit overruns.

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Frome Valley Gospel Hall Trust

Notes to the financial statements

For the year ended 5 April 2024

6.	Tangiblefixed assets
		Freehold	Furniture,	Total
		Property and	fixtures&
		Refurbishment	fittings
		£	£	£
	Cost	5,670,812	18,424	5,689,236
	Brought forward at
	6 April 2023
	Acquisitions	788,216	2,902	791,118
	Disposals	(417,308)	-	(417,308)
	At 5 April 2024	6,041,720	21,326	6,063,046
	Depreciation
	Brought forward at	194,107	2,061	196,168
	6 April 2023
	Chargeforthe year	85,748	2,133	87,881
	Impairment	-	=	=
	Disposals	(7,289)	-	(7,289)
	At 5 April 2024	272,566	4,194	276,760
	Net book value
	At 5 April 2024	5,769,154	17,132	5,786,286
	At5April2023	5,476,705	16,363	5,493,068

Property Details:

Land registry titles of the above property held are GR333162, GR375180, GR305497, AV179177, AV220964, AV235359, GR257079, AV223399 and GR377538

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Frome Valley Gospel Hall Trust

Notes to the financial statements For the year ended 5 April 2024

7. Analysis of net assets between funds 7.1 Current year Unrestricted Funds £ Tangible fixed assets 4,832,468 Current assets 208,335 Current liabilities (667,633) Total funds 4,373,170 7.2 Prior year Unrestricted funds £ Tangible fixed assets 4,974,991 Current assets 240,942 Current liabilities (751,500) Total funds 4,464,433	Restricted Funds £ 953,818 - (282,167) 671,651 Restricted funds £ 518,077. - - 518,077.	Total Funds £ 5,786,286 208,335 (949,800)
		5,044,821
		Total Funds £ 5,493,068 240,942 (751,500)
		4,982,510

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Frome Valley Gospel Hall Trust

Notes to the financial statements For the year ended 5 April 2024

8. Movement in funds

8.1 Current year

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|||||||| |---|---|---|---|---|---|---| |Realised/| |Balance|at|‘|unrealisedP| |6 April.|Incoming|Resources|gainsand|Balance.|at5| |2023|resources|expended|losses|April 2024| |£|£|£|£|£| |Restricted|funds| |Capital|Project|518,077|171,467|17,893|:|671,651| |Fund| |Unrestricted|funds|4,464,433|37,697|128,960|-|4,373,170| |Total|funds|4,982,510|209,164|146,853|-|5,044,821| |——ooEoEEEEEEEoEEoooooaoaoaoaoaooooEEEEEoaoaoaouoq—EEEESESESESESESESESES—ESESETES=EEEEEE=E>=—DEE=| |8.2|Prior year| |Realised/| |Balance|at|.|unrealised| |6 April;|Incoming|Resources|gainsand|Balance.|at5| |2022|resources|expended|losses|April 2023| |£|£|£|£|£| |Restricted|funds|364,643|160,196|6,762|-|518,077| |3,151,457|+|=1,439,172|126,196|-|4,464,433| |Unrestricted|funds| |Total funds|3,516,100|1,599,368|132,958|“|4,982,510|

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Restricted funds are held from specific donations towards building local halls at North Road and purchasing site for local hall at Over Lane.

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Frome Valley Gospel Hall Trust

Notes to the financial statements For the year ended 5 April 2024

9, Transactions with related parties

During the year, the Trust received £25,500 (2023: £15,000) from McFeggan Brown Ltd, a company in which Tristan Brady is a director and £15,000 (2023: £12,000) from Plant Care Ltd, a company in which Peter Davis is a director.

Donations received from trustees during the year totalled £2,700 (2023: £3,800).

At the balance sheet date there were loans payable to trustees totalling £100,000 (2023: £90,000)

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.

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Frome Valley Gospel Hall Trust

Notes to the financial statements

For the year ended 5 April 2024

11. Comparative Statement of Financial Activities

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|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Designated|Restricted|Total|Funds| |Funds|Funds|Funds|2023| |Notes|£|£|£|£| |Income|and|endowments|from:| |Donations and legacies:| |Collections| |Contributions from|the|-|=|126,360|126,360| |congregation| |Gift|Aid|donations|-|-|27,069|27,069| |Income|tax|refunds|6,767|-|-|6,767| |Donated|services|4|=|;|2|-| |Payroll|giving|=|=|=|=| |Other|donations|1,406,029|-|-|1,406,029| |Grants|—|donated|services|29,946|29,946| |Investments| |Bank|interest|197|-|-|197| |Rent Received|3,000|-|-|3,000| |Other| |Profit|on|sale|of|assets| |Total|4445939 -|453,429|4,599,368| |Expenditure|on:| |Charitable|activities| |Running|meeting|rooms|96,250|-|6,762|103,102| |Cost|of|donated|services|4|29,946|-|-|29,946| |Total|5|126,196|-|6,792|132,958| |Net|income/(expenditure)| |Gains/(losses)|on|revaluation|of| |fixed|assets| |Net movement|in|funds|1,312,976|-|153,434|1,466,410| |Reconciliation|of funds| |Total|funds|brought forward|3,151,457|-|364,643|3,516,100| |Total funds|carried|forward|4,464,433|=|518,077|4,982,510|

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