Trustees Report & Audited Financial Statements
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
Contents
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3 Legal and Administrative Information
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4 Report of the Trustees
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8 Audit Report
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11 Statement of Financial Activities
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12 Balance Sheet
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13 Statement of Cash Flows
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14 Notes forming part of the Financial Statements
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19 Movement in Funds - Current Year
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20 Movement in Funds - Prior Year
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21 Analysis of Net Assets - Current year
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22 Analysis of Net Assets - Prior Year
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23 Comparative Statement of Financial Activities
30 Jan 2026 Page 2 of 23
Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Legal and Administrative Information
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
Charity Name:
Frome Valley Gospel Hall Trust
Registered Charity Number:
1170776
Trustees:
Tristan Brady (Chair) Douglas Turner Peter Davis Richard Smith Glenn Smith
Treasurer:
Douglas Turner
Principle Address:
45 Charnhill Drive Mangotsfield Bristol BS16 9JR
Accountant:
Oldfield Advisory LLP 1120 Elliott Court Herald Avenue Coventry CV5 6UB
Auditors:
Saffery LLP Midland House 2 Poole Road Bournemouth BH2 5QY
Bankers:
CAF Bank 25 Kings Hill House Kings Hill West Malling Kent ME19 4TA
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Report of the Trustees
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
The trustees present their report along with the financial statements of the Charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 14 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 7th June 1982, most recently amended by Deed of Variation dated 22nd August 2014. The trust was registered with the Charity Commission for England and Wales on 15th December 2016 under Charity Registration Number: 1170776
Recruitment and appointment of new Trustees
The Trustees who have served during the year and since the year end are set out on page 3. None of the Trustees, nor any person connected with them, received any remuneration from the Charity in the year ended 5 April 2025. Trustees were reimbursed for expenses during the year totaling £4,141 (2024: £573).
The Trust operates 9 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 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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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Report of the Trustees
Main activities and achievement
The Trust provides and maintains 9 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 period, the Charity purchased a bungalow located in Almondsbury, Bristol, which was an important step towards the charity's objective of continuing to provide improved and suitable facilities for the local congregation. The charity will now seek to obtain the necessary planning permission to convert the property into a meeting hall.
The Charity also progressed the disposal of a former local hall situated on Lower Station Road. Negotiations for the sale were ongoing during the period, and the property was successfully sold in May 2025.
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.
Looking ahead, the trustees anticipate securing planning permission to convert one property for use as a gospel hall. In addition, work is expected to be completed on a temporary cabin at another site. The trustees also plan to progress the sale of a further property during the year, subject to market conditions.
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 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.
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Report of the Trustees
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:
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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).
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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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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).
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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.
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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 2025 the Trust had a surplus of incoming resources over resources expended.
Total voluntary income received this year was £547,335 compared to £198,508 in the previous year.
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 sufficient cash in the current account to cover approximately six months' worth of operational expenditure. 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 ( 2024: £Nil) due to current liabilities exceeding current assets.
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Report of the Trustees
Statement of Trustees Responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations and the provisions of the Trust Deed 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 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. All transactions have been reviewed and approved by two trustees.
On Behalf of the board:
.................................................................................. Douglas Lloyd Turner Douglas Turner (Trustee)
02/02/2026
..............................................................
Date
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Audit Report
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
Opinion
We have audited the financial statements of Frome Valley Gospel Hall Trust for the year ended 5 April 2025 which comprise the statement of financial activities, the balance sheet 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:
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give a true and fair view of the state of the charity’s affairs as at 5 April 2025 and of its incoming resources and application of resources for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.
We have nothing to report in this regard.
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Audit Report
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:
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the information given in the Trustees’ Annual Report is inconsistent in any material respect with the financial statements; or
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the charity has not kept sufficient accounting records; or
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the financial statements are not in agreement with the accounting records and returns; or
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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 7, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditors’ responsibilities for the audit of the financial statements
We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below
Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the charity’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charity by discussions with trustees and updating our understanding of the sector in which the charity operates.
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
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Trustees Report & Audited Financial Statements
Frome Valley Gospel Hall Trust
Audit Report
accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for our audit work, for this report, or for the opinions we have formed.
........................................................................................ Saffery LLP Date: 02/02/2026
Saffery LLP Statutory Auditors
Midland House 2 Poole Road Bournemouth BH2 5JH
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Statement of Financial Activities
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
| Statement of Financial Activities Frome Valley Gospel Hall Trust For the year ended 5 April 2025 |
Statement of Financial Activities Frome Valley Gospel Hall Trust For the year ended 5 April 2025 |
|---|---|
| UNRESTRICTED FUNDS DESIGNATED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2025 TOTAL FUNDS 2024 (AS RESTATED) |
|
| Income and endowments: | |
| Donations and Legacies: | |
| Contributions from the Congregation 234,176 - 219,178 453,354 150,484 |
|
| Gift Aid Donations - - 79,431 79,431 38,419 |
|
| Income Tax refunds - - 14,550 14,550 9,605 Investments |
|
| Interest Received 828 - - 828 398 |
|
| Rental Income 13,267 - - 13,267 12,000 Other Income |
|
| Profit/(loss) on Sale of Assets - - - - (379) |
|
| Insurance Claims - - - - 3,595 |
|
| Total Other Income - - - - 3,216 |
|
| Total Income and endowments: 248,271 - 313,159 561,430 214,122 Expenditure: |
|
| Running Meeting Rooms (note 4) 140,463 - 7,612 148,075 145,760 |
|
| Cost of donated services (note 5) - - - - 51 |
|
| Total Expenditure: 140,463 - 7,612 148,075 145,811 |
|
| Net Income/(Expenditure) 107,808 - 305,547 413,355 68,311 |
|
| Net Movement In Funds 107,808 - 305,547 413,355 68,311 UNRESTRICTED FUNDS DESIGNATED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2025 TOTAL FUNDS 2024 (AS RESTATED) |
|
| Reconciliation of funds (note 11) | |
| Total Funds bought forward 4,379,170 - 671,651 5,050,821 4,982,510 |
|
| Net movement in funds 107,808 - 305,547 413,355 68,311 |
|
| Total Funds carried forward 4,486,978 - 977,198 5,464,176 5,050,821 |
The notes on page 14 - 23 form part of these financial statements. All activities relate to continuing activities and all gains and losses during the period are shown above.
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Balance Sheet
Frome Valley Gospel Hall Trust As at 5 April 2025
| Balance Sheet Frome Valley Gospel Hall Trust As at 5 April 2025 |
||
|---|---|---|
| 2024 | ||
| 2025 | (AS | |
| RESTATED) | ||
| Fixed Assets | ||
| Tangible assets (note 6) | 5,711,906 | 5,786,286 |
| Total Fixed Assets | 5,711,906 | 5,786,286 |
| Current assets | ||
| Other debtors (note 7) | 657,000 | - |
| Prepayments and accrued income | 65,213 | 41,569 |
| Cash at bank and in hand | 107,349 | 172,766 |
| Total Current assets | 829,562 | 214,335 |
| Creditors: amounts falling due withinone year | ||
| Accruals and deferred income | 32,292 | 4,800 |
| Private Loans | 1,045,000 | 745,000 |
| Other creditors | - | 200,000 |
| Total Creditors: amounts falling due within one year | 1,077,292 | 949,800 |
| Net current assets/(liabilities) | (247,730) | (735,465) |
| Total assets less current liabilities | 5,464,176 | 5,050,821 |
| Net Assets | 5,464,176 | 5,050,821 |
| Funds (note 12) | ||
| Restricted Funds | 977,198 | 671,651 |
| Unrestricted funds | 4,486,978 | 4,379,170 |
| Total Funds | 5,464,176 | 5,050,821 |
The notes on pages 14 - 23 form part of these financial statements.
The unaudited financial statements were approved and authorised for issue by the Trustees of Frome Valley Gospel Hall 02/02/2026 Trust on .........................................and were signed on its behalf by:
.............................................................................................Douglas Lloyd Turner Douglas Turner (Trustee)
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Statement of Cash Flows
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
| Statement of Cash Flows Frome Valley Gospel Hall Trust For the year ended 5 April 2025 |
||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income/(expenditure) for the reporting period | 413,355 | 68,311 |
| Adjustments for: | ||
| Depreciation | 86,484 | 87,881 |
| (Increase)/decrease in debtors | (680,644) | (19,286) |
| Increase/(decrease) in creditors | 27,492 | (6,700) |
| (Profit)/loss on disposal of assets | - | 379 |
| Net cash provided by (used in) operating activities: | (153,313) | 130,585 |
| Cash flows from investing activities: | ||
| Payment for property, plant and equipment | (12,104) | (791,478) |
| Transfer of property offset against short term loan | - | 410,000 |
| Net cash provided by (used in) investing activities: | (12,104) | (381,478) |
| Cash flows from financing activities: | ||
| Increase in short term loans | 300,000 | 615,000 |
| Transfer of property offset against short term loan | - | (410,000) |
| Transfer of loan to donation | (200,000) | - |
| Net cash provided by (used in) financing activities | 100,000 | 205,000 |
| Net change in cash and cash equivalents | (65,417) | (45,893) |
| Change incash and cash equivalents | ||
| Cash and cash equivalents at beginning of period | 172,766 | 218,659 |
| Cash and cash equivalents at end of period | 107,349 | 172,766 |
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Notes forming part of the Financial Statements
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
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 (£) and all figures have been rounded to the nearest £1 for presentational purposes.
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 Prior Year Correction
In the previous year, the charity under accounted for rental income due from a tenant. This has been restated in the current financial statements to reflect the total rental income due through rental income and debtors.
1.3 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.
1.4 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.
1.5 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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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Notes forming part of the Financial Statements
1.6 Tangible fixed assets and depreciation
Tangible fixed assets (costing more than £100) 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 |
|---|---|
| Fixtures and Fittings | 10% straight line |
| Temporary Buildings | 20% straight line |
1.7 Taxation
The Trust is a registered charity and is not liable to United Kingdom income or corporation tax on charitable activities, provided income falls within the charitable exemptions and is spent on charitable purposes.
1.8 Funds
The general unrestricted fund is free for the Trustees to use for any purposes in furtherance of the trust’s charitable objects.
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 the funds were given. The charity’s accumulated restricted funds relate to donations given specifically for the construction and ongoing maintenance of new local halls.
1.9 Preparation of consolidated financial statements
The Charity does not have a trading subsidiary.
1.10 Going Concern
The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
1.11 Significant estimates and judgements
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.
2. TRUSTEES' REMUNERATION AND EXPENSES
No Trustees received any remuneration or other benefits from an employment with the charity. Trustees were reimbursed for expenses during the year totaling £4,141 (2024: £573).
3. WAGES AND SALARIES
There are no employees (2024: none)
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Trustees Report & Audited Financial Statements
Frome Valley Gospel Hall Trust
Notes forming part of the Financial Statements
4. RESOURCES EXPENDED (2024 as restated)
| 2025 | 2024 | |
|---|---|---|
| Direct Costs | ||
| Premises costs - repairs and maintenance | 13,810 | 24,291 |
| Premises costs - heat, light and power | 16,775 | 16,673 |
| Premises costs - rent and rates | - | 5,573 |
| Telephone | 1,037 | 766 |
| Legal and professional | 7,117 | - |
| Depreciation | 86,484 | 87,881 |
| Insurance | 5,608 | 2,262 |
| Loan interest | 1,500 | - |
| Other expenses | 60 | 60 |
| Governance | 15,684 | 8,254 |
| Total Direct Costs | 148,075 | 145,760 |
Governance costs include £10,000 in respect of audit fees (2024: £8,254 in respect of independent examiners fees)
5. DONATED SERVICES
| 2025 2024 |
2025 2024 |
|---|---|
| Donated Services | |
| Donated To: | |
| Donated Services to Greenfield Gospel Hall Trust - 51 |
|
| Total Donated Services: - 51 |
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Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Notes forming part of the Financial Statements
6. TANGIBLE FIXED ASSETS
| Cost | Freehold Property and Refurbishment | Fixtures and Fittings | Totals |
|---|---|---|---|
| At 6 April 2024 | 6,041,720 | 21,326 | 6,063,046 |
| Additions | 6,265 | 5,839 | 12,104 |
| Disposals | - | - | - |
| Transfer | 2,902 | (2,902) | - |
| At 5 April 2025 | 6,050,887 | 24,263 | 6,075,150 |
| Depreciation | |||
| At 6 April 2024 | 272,566 | 4,194 | 276,760 |
| Current year depreciation | 84,385 | 2,099 | 86,484 |
| Eliminated on disposals | - | - | - |
| Transfer | 317 | (317) | - |
| At 5 April 2025 | 357,268 | 5,976 | 363,244 |
| Net Book Value | |||
| At 5 April 2025 | 5,693,619 | 18,287 | 5,711,906 |
| At 5 April 2024 | 5,769,154 | 17,132 | 5,786,286 |
Land registry titles of the above property held are:
Court Road - AV223399 Harcombe Hill - GR333162 Wotton Road - GR377538 Badminton Road - GR305497 Lower Station Road - AV179177 Cutts Heath Road - AV235359 Springfield Road - AV220964 The Street - GR375180 North Road - GR218877 Northerwood, Over Lane - AV133536.
7. OTHER DEBTORS
| 2025 | 2024 | |
|---|---|---|
| Other debtors | ||
| Other debtors | 657,000 | - |
| Total Other debtors | 657,000 | - |
Other debtors include amounts paid in respect of a property purchase where payment was made during the financial year, but legal completion of the purchase took place after the year end.
30 Jan 2026 Page 17 of 23
Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Notes forming part of the Financial Statements
8. TRANSACTIONS WITH RELATED PARTIES
During the year the charity received donations totalling £2,550 (2024: £2,700) from trustees and donations totalling £65,248 (2024: £40,500) from the businesses or other organisation that they control. All donations were made in the course of the charity’s normal operations. Trustees were reimbursed for expenses during the year totaling £4,141 (2024: £573). At the balance sheet date there were loans payable to trustees totalling £100,000 (2024: £100,000).
9. 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.
10. RESTRICTED FUNDS
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 the funds were given. The charity’s accumulated restricted funds relate to donations given specifically for the construction and ongoing maintenance of new local halls. At the reporting date, these funds are allocated to three new local hall projects: the construction and associated works of a new hall at Park Farm, Gloucester Road, Almondsbury; the conversion of an existing bungalow into a new local hall at Northerwood, Over Lane, Easter Compton, including relevant groundworks; and the construction and associated works of a new local hall at North Road, Yate.
30 Jan 2026 Page 18 of 23
Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Movement in Funds - Current Year
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
11. Movement in Funds
11.1 Movement in funds - current year
| UNRESTRICTED | DESIGNATED | RESTRICTED | TOTAL FUNDS | |
|---|---|---|---|---|
| FUNDS | FUNDS | FUNDS | 2025 | |
| Movement in Funds | ||||
| Total funds bought forward | 4,379,170 | - | 671,651 | 5,050,821 |
| Incoming resources | 248,271 | - | 313,159 | 561,430 |
| Resources expended | (140,463) | - | (7,612) | (148,075) |
| Total funds carried forward | 4,486,978 | - | 977,198 | 5,464,176 |
30 Jan 2026 Page 19 of 23
Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Movement in Funds - Prior Year
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
11. Movement in Funds
11.2 Movement in funds - Prior year
| TOTAL | ||||
|---|---|---|---|---|
| UNRESTRICTED FUNDS |
DESIGNATED FUNDS |
RESTRICTED FUNDS |
FUNDS 2024 (AS |
|
| RESTATED) | ||||
| Movement in Funds | ||||
| Total funds bought forward | 4,464,433 | - | 518,077 | 4,982,510 |
| Incoming resources | 42,655 | - | 171,467 | 214,122 |
| Resources expended | (127,918) | - | (17,893) | (145,811) |
| Total funds carried forward | 4,379,170 | - | 671,651 | 5,050,821 |
30 Jan 2026 Page 20 of 23
Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Analysis of Net Assets - Current year
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 12.1 Current Year | ||||
|---|---|---|---|---|
| UNRESTRICTED | DESIGNATED | RESTRICTED | TOTAL FUNDS | |
| FUNDS | FUNDS | FUNDS | 2025 | |
| Funds | ||||
| Tangible Fixed Assets | 4,746,199 | - | 965,707 | 5,711,906 |
| Current Assets | 172,562 | - | 657,000 | 829,562 |
| Current Liabilities | (431,783) | - | (645,509) | (1,077,292) |
| Total Funds | 4,486,978 | - | 977,198 | 5,464,176 |
30 Jan 2026 Page 21 of 23
Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Analysis of Net Assets - Prior Year
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
12.2 Prior Year
| TOTAL | ||||
|---|---|---|---|---|
| UNRESTRICTED FUNDS |
DESIGNATED FUNDS |
RESTRICTED FUNDS |
FUNDS 2024 (AS |
|
| RESTATED) | ||||
| Funds | ||||
| Tangible Fixed Assets | 4,832,468 | - | 953,818 | 5,786,286 |
| Current Assets | 214,335 | - | - | 214,335 |
| Current Liabilities | (667,633) | - | (282,167) | (949,800) |
| Total Funds | 4,379,170 | - | 671,651 | 5,050,821 |
30 Jan 2026 Page 22 of 23
Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Comparative Statement of Financial Activities
Frome Valley Gospel Hall Trust For the year ended 5 April 2025
| Comparative Statement of Financial Activities Frome Valley Gospel Hall Trust For the year ended 5 April 2025 |
Comparative Statement of Financial Activities Frome Valley Gospel Hall Trust For the year ended 5 April 2025 |
|---|---|
| UNRESTRICTED FUNDS DESIGNATED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 (AS RESTATED) |
|
| Income and endowments: | |
| Donations and Legacies: | |
| Contributions from the Congregation 27,041 - 123,443 150,484 |
|
| Gift Aid Donations - - 38,419 38,419 |
|
| Income Tax refunds - - 9,605 9,605 Investments |
|
| Interest Received 398 - - 398 |
|
| Rental Income 12,000 - - 12,000 Other Income |
|
| Profit on Sale of Assets (379) - - (379) |
|
| Insurance Claims 3,595 - - 3,595 |
|
| Total Other Income 3,216 - - 3,216 |
|
| Total Income and endowments: 42,655 - 171,467 214,122 Expenditure: |
|
| Running Meeting Rooms (note 4) 127,867 - 17,893 145,760 |
|
| Cost of donated services (note 5) 51 - - 51 |
|
| Total Expenditure: 127,918 - 17,893 145,811 |
|
| Net Income/(Expenditure) (85,263) - 153,574 68,311 |
|
| Net Movement In Funds (85,263) - 153,574 68,311 UNRESTRICTED FUNDS DESIGNATED FUNDS RESTRICTED FUNDS TOTAL FUNDS 2024 (AS RESTATED) |
|
| Reconciliation of funds (note 11) | |
| Total Funds bought forward 4,464,433 - 518,077 4,982,510 |
|
| Net movement in funds (85,263) - 153,574 68,311 |
|
| Total Funds carried forward 4,379,170 - 671,651 5,050,821 |
30 Jan 2026 Page 23 of 23
Trustees Report & Audited Financial Statements Frome Valley Gospel Hall Trust
Audit Log
Document
| Title | Frome Valley Gospel Hall Trust - Trustees Report Audited Financial |
|---|---|
| Statements 2025 | |
| Legalesign ID | ed11f37f-0049-11f1-9f8e-06e476a07569 |
| Status | Signed |
| Sender | Alice Mcnab (alice.mcnab@saffery.com) |
| Organisation | Saffery LLP |
| Dept/Business | Saffery LLP |
| PDF Certi�ed | True |
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| Name |
Role | Authentication | Authentication | Sign time | |||
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| Casidhe Baleri casidhe.baleri@saffery.com |
Signer | Mon, 02 Feb 2026 15:50:53 +0000 | |||||
| Log LT |
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| Event | IP Address | Date/Time | |||||
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| Mon, 02 Feb 2026 15:25:47 | |||||||
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| Ticked checkbox for statement: I con�rm that I am | fvght.�nance@outlook.com | 5.151.2.113 | Mon, 02 Feb 2026 15:25:47 | ||||
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| Signature applied (page 7) | fvght.�nance@outlook.com | 5.151.2.113 | Mon, 02 Feb 2026 15:29:23 | ||||
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