## The Walkergate Trust Report and Accounts ## Year ended 31 December 2020 1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk ## **THE WALKERGATE TRUST** ## **LEGAL & ADMINISTRATIVE DETAILS** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** ADDRESS FOR CORRESPONDENCE 1 King Edward Road Newcastle-upon-Tyne NE6 5RE GOVERNING DOCUMENT CIO Constitution dated 11th February 2019 (Registered 20th February 2019) CHARITY REGISTRATION NUMBER 1182145 TRUSTEES RESPONSIBLE FOR MANAGING THE CHARITY P Bell S Hogarth G Letts D Lovelock J Sanders BANKERS HSBC Plc INDEPENDENT EXAMINER Lisa Darby Stewardship 1 Lamb's Passage LONDON EC1Y 8AB ## **INDEX** Page 1 Legal & Administrative Details Pages 2 - 5 Trustees' Report Page 6 Independent Examiner's Report Page 7 Receipts and Payments Account Page 8 Statement of Assets & Liabilities Page 9 Notes to the Accounts Page 1 ## **THE WALKERGATE TRUST** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** The Trustees have pleasure in submitting the Report and Accounts for The Walkergate Trust CIO for the year ended 31st December 2020. This report and the accompanying accounts have been prepared in accordance with the charity’s constitution and the requirements of the Charities Act 2011. The Walkergate Trust was effectively re-constituted on a new legal basis on the 11th February 2019 as a Charitable Incorporated Organisation (CIO), having been previously based on a trust deed. The charitable work continued unchanged but in a new legal entity, the CIO, which replaced the original trust-based entity. A CIO is better suited to the needs of the organisation but this structure was not available when The Walkergate Trust was established. Apart from the change to its legal structure our charity is to all intents and purposes unchanged, including its charitable objective, name, bank account and trustees. The comparative prior year period in this report & accounts is 11th February 2019 to 31st December 2019. Although the charity was constituted it was effectively dormant from the 11th February 2019 until its predecessor charity transferred its undertaking on 30th June 2019. ## **Recruitment and selection of trustees** The number of trustees shall be not less than three and no more than five of which one must be from outside the Walkergate congregation. Each trustee must be able to agree to the “Statement of Faith” in the constitution and have appropriate skills or qualifications to aid the administration and running of the charity. All current Trustees were appointed at the commencement of the CIO. ## **Appointment of trustees** All trustees have volunteered to continue in post for another year. ## **Impact of the Covid-19 pandemic on the charity ’ s operations** During the period January to March 2020 activities supported by the CIO continued in person as normal. From March onwards most of the usual activities continued, but were adapted to comply with government and public health guidelines. In general this meant that regular in-person meetings were replaced by online meetings, and seasonal craft events were replaced by a combination of online content and physical ‘ bag drops ’ to households in the community. Most of our donors give by regular standing order. So far the impact on income has been negligible but this is monitored closely. Page 2 ## **Constitution and objects** The CIO operates under its constitution dated 11th February 2019. The management of the charity is the responsibility of the trustees who are appointed under the terms of the constitution. The Object of the CIO is for the public benefit, the advancement of the Christian faith in Great Britain particularly; - the support of youth workers, pastoral workers, teachers and evangelists; - the advancement of religious education in accordance with the doctrines in its constitution by means of Sunday Schools, classes, seminars, lectures and conferences; and - the production, publication and dissemination of religious work. The main vehicle through which the Trust seeks to realise these objectives is the work within and through the congregation and ministry at St. Oswald's Church, Walkergate, Newcastle upon Tyne. To this end the Trust assisted the Parochial Church Council of St. Oswald's and funded other activities undertaken by the church family in Walkergate with grants totalling £29,500 in the period (2019: £25,465). This supported the church in its internal and external ministry including communal and online public worship activities for all age groups, public services and ceremonies, bible studies for adults, Sunday school classes and seasonal craft activities for children, activities in and with local schools (for part of the year), and pastoral care for church attenders and the wider community - particularly at times of bereavement. Special activities included a week long, online 'Holiday Club' event. These activities underpinned the main objective of the Trust. As well as these financial grants, the trustees conducted a recruitment process with a view to appointing a new Church Minister to support ministry at St. Oswald's and maintain our ability to serve the local community with activities and gospel teaching. This role aligns with secondary objective of the Trust. Several applications for the role were received and three candidates were interviewed. One applicant was subsequently appointed by the Trust in 2021. The remaining objectives were met by: - the activities of St. Oswald's church as described above but in addition small grants were given via the Parochial Church Council to others to purchase books and to attend conferences and training courses relevant to their ministry; - the purchase and distribution to local school-leavers of gospel books - these were given to all pupils, regardless of any church affiliation or none; - the general pastoral work by the minister and congregation of St. Oswald's church which we support. Page 3 ## **Public Benefit Statement** The trustees have had regard to the Charity Commission guidance on public benefit and believe that the activities undertaken or supported fully satisfy the requirement in that through the advancement of religion the spiritual, moral and ethical teachings of biblical Christian religion have been instilled, encouraged and developed both within the congregation of St. Oswald's and in the wider community. ## **Achievements and Performance** The trustees believe that the charity's aims have been successfully achieved during the year particularly – but not exclusively – within and through the ministry and congregation of St. Oswald's Church, Walkergate. Other activities have included moral and religious education and literature outreach in local schools. ## **Financial Review** The accounts for the year ended 31st December 2020 are presented, ready for submission to the Charity Commission. Total income received amounted to £ 48,220 (2019: £17,820) , the principal item being donations and the relating Gift Aid. In 2019 also included the transfer of income from the original trust to the new CIO of £107,948. Total payments in 2020 amounted to £ 39,461 (2019:£27,044) of these payments, £29,500 (2019: £25,465) related to grants. Our policy is to devote the majority of monies received to the continuing work, while retaining a prudent level of reserves to cover income fluctuations, unexpected expenditure (such as unplanned maintenance of the Trust ’ s property) and shortfall in income compared to expenditure while we grow the number of donors. From time to time cash balances may accrue and when appropriate these may be invested for short periods but it is anticipated that these will be drawn down through increased expenditure now that we have employed a minister. In respect of financial risk analysis, the value of the house at 1004 Shields Road, owned outright by the Trust, is considered adequate to meet any unexpected financial liabilities. To mitigate this risk further we have now completed the transition in our structure to become a Charitable Incorporated Organisation (CIO) rather than a trust and this report is for the first full year of the CIO. ## **Trustees' Responsibilities** Charity law requires us as trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011. We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities. Page 4 ## **Risk management** The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the fund, and are satisfied that through their reviews, and the use of professional advisers, systems are in place to mitigate our exposure to the major risks ## **Approval** This report was approved by the trustees on 15 July 2021 and signed on their behalf by: Guy Letts Page 5 ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF** ## **THE WALKERGATE TRUST** I report to the trustees on my examination of the accounts of The Walkergate Trust ('the charity') for the year ended 31 December 2020 on pages 7 to 9 following. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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: 1. accounting records were not kept in accordance with section 130 of the 2011 Act; or 2. the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Lisa Darby ACA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB Date: 19 July 2021 Page 6 ## **THE WALKERGATE TRUST** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** |**Income receipts**
Donations, legacies and grants
Gift aid receipts
Rental Income
**Capital and similar receipts**
**Total receipts**
**Payments**
2
3
**Total payments**
Transfers between funds
**Net movement in funds**
Cash funds as at last year end
**Cash funds at this year end**
A
Net
of
receipts
/
(payments)
before
transfers
Grants
paid
in
relation
to
charitable
activities undertaken by others
Payments in relation to charitable activities
undertaken directly
Transfer from The Walkergate Trust|Unrestricted
General
Funds
£
44,880
3,340
-
48,220
-
48,220
9,961
29,500
39,461
8,759
-
8,759
98,724
107,483|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-|2020
£
44,880
3,340
-
48,220
-
48,220
9,961
29,500
39,461
8,759
-
8,759
98,724
107,483|2019
£| |---|---|---|---|---| |||||15,322
498
2,000| |||||17,820| |||||107,948| |||||125,768| |||||1,579
25,465| |||||27,044| |||||98,724
-| |||||98,724| |||||98,724| The notes on page 9 form part of these accounts. Page 7 ## **THE WALKERGATE TRUST** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** |**A Cash funds**
Cash at bank with immediate access
**B**
**Other monetary assets**
Gift aid due to charity
**C**
**Liabilities**
Fee for Independent Examination
**D**
**Assets retained for charity's own use**
Freehold Building (Purchased 2002)
Equipment|Unrestricted
General
funds
£|Restricted
funds
£|2020
£
**107,483**
**9,391**
**600**
Current
Value
£
207,000
6,000
213,000|2019
£| |---|---|---|---|---| |||||| ||**107,483**
**9,391**|**-**
**-**||| |||||**98,724**| |||||| |||||**3,340**| |||||| ||**600**|**-**
Cost
£
91,064
6,249
97,313||| |||||**600**| |||||| Current values have been estimated by the trustees The accounts were approved by the trustees and signed on their behalf by date **Guy Letts** 15 July 2021 The notes on page 9 form part of these accounts. Page 8 ## **THE WALKERGATE TRUST** ## **NOTES TO THE ACCOUNTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1 Accounting policies** The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs. General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. |**2**
**Payments in relation to charitable activities undertaken directly**
Property costs (Utilities)
Insurance
Administrative Expenses
Maintenance of buildings & equipment
Independent examination
Professional Fees|Unrestricted
General
funds
£
2,555
935
528
4,622
600
720
9,961|Restricted
Funds
£
-
-
-
-
-
-
-|Total
2020
£
2,555
935
528
4,622
600
720
9,961|Total
2019
£| |---|---|---|---|---| |||||870
511
198
-
-
-| |||||1,579| ## **3 Grants paid in relation to charitable activities undertaken by others** |Grants for:
Christian mission in the UK|29,500|-|29,500|| |---|---|---|---|---| |||||25,465| ## **4 Transactions with related parties** During 2020 a grant of £29,500 (2019: £25,000) was paid to St Oswald's Parish Church, Walkergate. Guy Letts, Steve Hogarth, Julia Sanders and Pam Bell are trustees of The Walkgergate Trust and are also PCC members of that church. ## **Movement of funds** There were no restricted funds during 2020. Page 9