Registered company number: CE011079 (England and Wales) Registered charity number: 1173450
Report of the Trustees and Financial Statements for the Year Ended 31 December 2024 for Tolladine Mission
RD Accounting Limited Chartered Certified Accountants 12C Two Locks Hurst Business Park Brierley Hill DY5 1UU
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Tolladine Mission Contents of the Financial Statements For the Year Ended 31 December 2024
| Page | |
|---|---|
| Charity Reference and Administrative Details | 1 |
| Trustees’ Annual Report | 2-4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8-11 |
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Tolladine Mission Charity Reference and Administrative Details Year Ended 31 December 2024
Charity registration number 1173450 Company registration number CE011079 Trustees Mr S Ruddle – Chair Mr C Russell Ms H Scarrett Rev S Northall Mr T Bennett Registered office 20 Shrubbery Road Worcester WR1 1QR Charities Principal Address 20 Shrubbery Road Worcester WR1 1QR Independent examiner RD Accounting Limited 12C Two Locks Hurst Business Park Brierley Hill DY5 1UU
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Tolladine Mission Trustees’ Annual Report Year Ended 31 December 2024
The Trustees present their report and the audited financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: 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 published in October 2019.
Structure, governance and management
The Tolladine Mission CIO (TMCIO) was set up to provide, when it is financially capable of doing so, funds to assist in the employment of a Missioner who works in the Tolladine area of Worcester, to advance Christian religions in the area, together with the adjacent Parishes.
As stated in previous Annual Reports the TMCIO has been developing a Social Enterprise Project, to address the major issues confronting the Tolladine area. Additional details are noted later in the report. It is our aim that this Project will, in time, produce the funds to support Mission in some format in the Area.
The charity is a founder member of Worcester Grassroots Alliance which brings together local charities in Worcester for shared benefit.
How our activities deliver public benefit
The Trustees have had regard to the guidance of the Charity commission on Public Benefit. The Trustees believe that the activities undertaken during the year, as described below, further its charitable purposes for the public benefit.
Objectives and activities
The object of the CIO is to advance Christian religion for all the people of Tolladine and adjacent parishes.
The Highlights of the year have been: -
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The continuing provision of a property for the supported tenancy in Avon Road, Worcester. The tenant relocated during July when we needed to sell the property. The tenant has now moved into a housing association home which means we have successfully supported her into a permanent tenancy, which she would not have otherwise been able to access.
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We were able find a socially minded purchaser for the property which enabled us to pay back our loan and have extra capital to develop the Garden Project in Tolladine Road.
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Agreeing with the Diocese of Worcester to purchase an area of garden behind the Property in Tolladine Road. Completion of the purchase is expected in 2025
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The property in Tolladine Road has now been sublet to tenants at a commercial rent. The current tenants are foster career for 2 children. This meets our social purpose and enables us to generate a small income for our charitable activities.
Social Enterprise Project
The TMCIO continues to develop a Social Enterprise Project to address the major issues confronting Tolladine residents.
Matthew Guillick (our architect) submitted a Planning in Principle (P.I.P.) application which was approved in October 2023
The P.I.P. showed our intention to build 2 eco-friendly housing pods in the garden area that the CIO is purchasing. Each pod to house a single and a double occupant.
The following Surveys were completed Tree Survey/ Arboricultural Impact Assessment. An Environmental Survey is planned for January 2025.
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Tolladine Mission Trustees’ Annual Report Year Ended 31 December 2024
The above surveys are required for us to be able to proceed to full planning permission.
We are in continuing discussions with the local authority and Worcester based charities, to determine the best way of managing the tenants housed in the eco-friendly pods, when they are built.
With regard to the provision of Mission within the area,
The Tolladine CIO is not in a position at present to support a Missioner and will aim to continue to develop its property portfolio with the aim of generating sustainable funds in the future to support Mission in the area.
Our primary aim still remains to generate the income needed to support Mission work in the Tolladine area, and with the leasing of 214 Tolladine Road and progressing with plans to build in the garden, we are hoping that we are getting closer to providing that support.
We still want to enable church communities across the Diocese to grow in health and sustainability by:
Inspiring local church communities to be ambitious in generating appropriately local responses that enable them to flourish and grow.
Equipping and strengthening church communities by providing training, and by establishing new approaches and forms of support.
Adopting leadership models that support and develop ordained and lay leaders in enabling local church communities to be adaptive, and to grow spiritually, numerically and in depth of discipleship.
Promoting wise stewardship that ensures financial stability and provides the space to deliver a robust growth programme.
Tolladine CIO wants to work in partnership with the Diocese of Worcester to deliver Mission in Tolladine alongside social supported housing. We want to use the Tolladine Rd property and its associated land to provide social housing to rent to those who are homeless, disabled, unable to access private rented housing and who need support to maintain their tenancy. The income generated from the social housing will be used to support Mission in the area.
We now have a website – tolladinemission.co.uk
We are grateful for the voluntary support of our Trustees and of members of the St. Barnabas and St Wulstans church community who have volunteered their time to support us.
As stated in the previous Charity Commission Report, Mark Watson died in November 2023. The Trustees would like to thank him and his wife, Rev Julieann Watson for allowing the TMCIO to be the beneficiary of donations from his Funeral.
Achievements and performance
The CIO has formalised the following with the Diocese of Worcester:-
The continued provision of professional support of the tenant in Avon Road, until the property need to be sold to repay the Interest Free Loan
Leasing the property in Tolladine Road from the Diocese of Worcester and subletting the property at a commercial rent for a short time let.
We have had surveys completed of the garden at Tolladine Road. Our architect – Matthew Gullick – has been appointed to apply for full Planning Application.
We have agreed with the Diocese of Worcester the purchase price of the land behind the property at Tolladine Road, and the sale is in the hands of the Solicitors.
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Tolladine Mission Trustees’ Annual Report Year Ended 31 December 2024
Financial Review & Reserves Policy
The principal sources of funding are rent from the properties in Avon Road and Tolladine Road, we were the beneficiary from the Funeral of Mark Watson.
Expenditure is all related to the property and support costs of the 2 properties mentioned above and to further our developmental aims.
For 2024 the charity made a surplus of £2,106. The charities reserves stood at £92,908 as at 31 December 2024 (2023: £90,802).
The TMCIO’s policy on reserves to date was to build up enough reserve, so that at the end of the interest free 5-year period, agreed with our benefactor, we have enough to buy the property with a mortgage, by putting down a deposit. That was no longer the best financial decision for the charity, so the reserves are to be used to support future development of new homes in Tolladine Road. The reserves will enable start up costs to be met, land purchase and will lever additional grant funding.
The principal sources of funding are rent from the properties in Avon Road and Tolladine Road, we were the beneficiary from the Funeral of Mark Watson. Expenditure is all related to the property and support costs of the 2 properties mentioned above and to further our developmental aims.
Recruitment and appointment of new trustees
Apart from the first charity trustees, every trustee must be appointed (for a term of three years) by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
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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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (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 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.
10 / 09 / 2025
This report was approved by the Trustees on……………………………... and signed on the board’s behalf by:
Mr S Ruddle, Trustee
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Tolladine Mission Independent Examiners Report Year Ended 31 December 2024
Independent examiners report to the Trustees of Tolladine Mission
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records: or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Richard Dunkley FCCA CTA RD Accounting Limited Chartered Certified Accountants 12C Two Locks Hurst Business Park Brierley Hill DY5 1UU
Date: 10 / 09 / 2025
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Tolladine Mission Statement of Financial Activities (Including Income & Expenditure Account) Year Ended 31 December 2024
| Note Income and endowments from: Donations and legacies 3 Charitable activities Bank Interest 4 5 Total Expenditure on: Charitable activities 6 Net income / (expenditure) Transfers between funds Net movement in funds 12 Reconciliation of funds: Total funds brought forward 12 Total funds carried forward 12 |
Unrestricted funds Restricted funds 2024 Total £ £ £ 2,433 - 2,433 20,471 49 - - 20,471 49 22,953 - 22,953 20,847 - 20,847 2,106 - 2,106 - - - 2,106 - 2,106 90,802 - 90,802 92,908 - 92,908 |
2023 Total £ 2,898 18,692 25 |
|---|---|---|
| 21,615 21,462 |
||
| 153 - |
||
| 153 90,649 |
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| 90,802 |
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Tolladine Mission Balance Sheet
Year Ended 31 December 2024
| Unrestricted | Restricted | 2024 | 2023 | ||
|---|---|---|---|---|---|
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Programme Related Investments | 8 | 111,847 | - | 111,847 | 109,707 |
| Current assets | |||||
| Gift Aid Recoverable | 519 | - | 519 | - | |
| Cash at bank and in hand | 81,466 | - | 81,466 | 82,103 | |
| 81,958 | - | 81,958 | 82,103 | ||
| Creditors: amounts falling due | 9 | (100,924) | - | (100,924) | (101,008) |
| within one year | |||||
| Net current assets / (liabilities) | (18,966) | - | (18,966) | (18,905) | |
| Total assets less current | 92,908 | - | 92,908 | 90,802 | |
| liabilities | |||||
| Creditors: amounts falling due | 10 | - | |||
| after more than one year | |||||
| Net assets / (liabilities) | 92,908 | - | 92,908 | 90,802 | |
| Charity Funds | |||||
| Restricted funds | - | - | |||
| Unrestricted funds | 92,908 | 90,802 | |||
| Total charity funds | 12 | 92,908 | 90,802 |
10 / 09 / 2025 The financial statements were approved by the Board of Trustees on ………………………… and were signed on its behalf by:
………………………………………………… Mr S Ruddle, Trustee
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Tolladine Mission Notes to the Financial Statements Year Ended 31 December 2024
1 COMPANY INFORMATION
The charity is a charitable incorporated organisation (CIO) registered with the Charities Commission and governed by a Foundation Model Constitution dated 21 May 2017. The members of the company are the Trustees named in the Report of the Trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.
2 ACCOUNTING POLICIES
BASIS OF PREPARATION
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
INCOME RECOGNITION
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
EXPENDITURE RECOGNITION
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
TAX
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
PROGRAMME RELATED INVESTMENTS
Programme related investments includes an investment property which is held for the purposes of providing accessible/affordable housing and support more vulnerable residents.
DEBTORS RECEIVABLE AND CREDITORS PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. The charity does not hold any complex financial instruments.
LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
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Tolladine Mission Notes to the Financial Statements Year Ended 31 December 2024
CASH & INVESTMENTS
Any cash held in bank accounts that is accessible within one month is not considered to be an investment and is therefore recognised as cash on the balance sheet.
FUNDS
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. The charity does not currently hold any restricted funds.
GOING CONCERN
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern.
- 3 INCOME FROM DONATIONS AND LEGACIES
| Donations Gift Aid 4 INCOME FROM CHARITABLE ACTIVITIES Rental Income 5 INCOME FROM OTHER INCOME Bank Interest |
2024 £ 1,914 519 2,433 2024 £ 20,471 20,471 2024 £ 49 |
2023 £ 2,898 |
|---|---|---|
| 2,898 | ||
| 2023 £ 18,692 |
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| 18,692 | ||
| 2023 £ 25 25 |
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| 49 |
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Tolladine Mission Notes to the Financial Statements Year Ended 31 December 2024
6 EXPENDITURE
All expenditure is undertaken for charitable purposes and is summarised as follows:
| Worcester Community Trust – Mission Support Accountancy (Accounts Preparation & Independent Exam fee) Repairs & Maintenance Management fees (Rental) Utilities & Insurance General expenses Bank charges Professional Fees Rent |
2024 £ 1,160 810 3,269 3,458 900 - 60 390 10,800 20,847 |
2023 £ 4,641 1,008 1,068 988 1,252 187 60 1,458 10,800 |
|---|---|---|
| 21,462 |
7 TRUSTEES REMUNERATION AND BENEFITS
The trustees neither received nor waived any remuneration or other benefits during the year ending 31 December 2024 (2023: £Nil)
TRUSTEES EXPENSES
There were no trustees’ expenses paid for the year ending 31 December 2024 (2023: £Nil)
8 PROGRAMME RELATED INVESTMENTS
| COST At 1 January 2024 Additions Disposals At 31 December 2024 |
Freehold Property £ 109,707 2,140 - |
|---|---|
| 111,847 |
9 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accruals Unsecured Loan |
2024 £ 924 100,000 100,924 |
2023 £ 1,008 100,000 |
|---|---|---|
| 101,008 |
The above loan is provided by Maxwell Jones Studios Limited. The loan carries no interest and was repaid in 2025.
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Tolladine Mission Notes to the Financial Statements Year Ended 31 December 2024
10 CREDITORS DUE AFTER MORE THAN 1 YEAR
2024 2023 £ £ Unsecured Loan - -
11 RELATED PARTIES
Stephen Ruddle (trustee) is also a Director of Maxwell Jones Studios Limited (up to 31 May 2024) who have provided the above loan to the charity.
12 MOVEMENT IN FUNDS
All fund movements are in relation to unrestricted funds, there are no restricted funds.
13 LEASE COMMITMENTS
The charity entered into a 15-year operating lease agreement for a residential programme related property in November 2022. Annual rent is currently £10,800 with rent reviews due after five and ten years. Non-cancellable lease payments are due as follows: -
| Within one year Between one and five years After five years |
2024 £ 10,800 43,200 86,400 140,400 |
2023 £ 10,800 43,200 96,300 |
|---|---|---|
| 151,200 |
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