Green Hill Trust Accounts for year ended 5 April 2022
## **GREEN HILL TRUST**
## **TRUSTEES REPORT AND ACCOUNTS**
**YEAR ENDED 5 APRIL 2022**
_**Charity Registration Number: 1184437**_
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Green Hill Trust Accounts for year ended 5 April 2022
|**CONTENTS:**||
|---|---|
|Report of the Trustees|3|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Accounts|7-10|
|Independent Examiner’s Report|11|
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Green Hill Trust Accounts for year ended 5 April 2022
## **REPORT OF THE TRUSTEES FOR YEAR ENDED 5 APRIL 2022**
The Trustees present their annual report and accounts of the charity for the year ended 5[th] April 2022.
## **Charity Information**
Green Hill Trust was registered with the Charity Commission on 16 July 2019 as a Charitable Incorporated Organisation (CIO), registered number 1184437. It was converted from an unincorporated trust under the same name which was originally formed by Declaration of Trust on 26 January 1981.
## **Trustees**
Andrew Brown Chair of Trustees David Green Treasurer Peter Hamilton Daniel Reilly Secretary Gareth Williams
## **Principal Address**
155 White Hill Chesham Bucks HP5 1AZ
## **Bankers**
Natwest Oakfield Corner, Hill Avenue Amersham Bucks HP6 5BU
**Independent Examiner** Adam East ACA Azets, Suites B & D Burnham Yard, Beaconsfield HP9 2JH
## **Structure, governance and management**
The principal objectives are the relief of poverty, advancement of education, advancement of the Christian religion and any other purpose beneficial to the community.
Under the requirements of the constitution every trustee must be appointed for a term of three years by a resolution passed by the existing trustees. All trustees are familiar with the practical work of the charity and are encouraged to be involved with the on-going work of the charity.
## **Public benefit**
The Trustees have considered the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the period. The Trustees have, in their view, met the public benefit requirement by making grants to individuals and institutions who are able to further the charity's objectives.
## **Review of main achievements in the period**
During the year a property was purchased by the charity to accommodate the minister of Hope Church Chesham which supported the ministry of the Church. This was funded through additional donations in the current year along with a number of new long term loans.
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Green Hill Trust Accounts for year ended 5 April 2022
## **Financial review**
There was income totalling £309,084 (2021: £70,070) which were mainly from donations. This money was used along with additional loans to purchase a property to accommodation for the minister of Hope Church Chesham and make additional grants. As a result of the large increase in income there was a surplus for the year of £231,285 (2021: £55,720).
As a result of the property purchase creditors have increased to £508,488 (2021: £170,000).
## **Reserves**
At the year end the charity had reserves of £463,128 (2021: £231,843). A large amount of the assets held by the charity are in property with £946,286 (2021: £351,858) held at the year end. Cash reserves at the year end are £20,455 (2021: £49,985) which is considered sufficient to meet outgoings in the coming year.
The reserves policy is to increase reserves over time to pay off the loans used to acquire the properties and to build reserves for future projects.
## **Going Concern**
Having considered the liquidity of the charity the Trustees have a reasonable expectation that the charity has adequate resources to continue for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.
## **Assessment of Risks**
The Trustees have examined the major risks that the charity faces and confirm that systems have been established so that the necessary steps can be taken to lessen these risks.
## **Future Plans**
The plan for the future is to raise donations to pay off more of the loans which were required to purchase the property to accommodate the minister of Hope Church Chesham.
## **Statement of Trustees’ Responsibilities**
Charity law requires the trustees to prepare financial statements for each financial year, which show a true and fair view of the state of affairs of the charity, and its financial activities for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.
Approved by the Trustees on 21 November 2022 and signed on their behalf by:
**……………………………..** Andrew Brown Chair of Trustees
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Green Hill Trust Accounts for year ended 5 April 2022
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
||**2022**
**2021**|
|---|---|
||**£**
**£**|
|||
|Note||
|Income from donations and legacies 2a|**296,875**
67,250
**6,989**
2,602
**-**
**5,220**
218
-|
|Income from charitable activities 2b||
|Investment income 2c
Other income 2d||
|**Total Income**|**309,084**
70,070|
|||
|**RESOURCES EXPENDED**||
|Expenditure on Charitable Activities 3|**77,799**
14,350|
|**Total Expenditure**|**77,799**
14,350|
|||
|**NET INCOME**|**231,285**
55,720|
|||
|Surplus funds brought forward|231,843
176,123|
|||
|**SURPLUS FUNDS CARRIED FORWARD**|**463,128**
**231,843**|
The notes at pages 7 to 10 form part of these accounts.
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Green Hill Trust Accounts for year ended 5 April 2022
|**BALANCE SHEET**|**2022**|**2021**|
|---|---|---|
|**£**|**£**
**£**|**£**|
|Note|||
|**FIXED ASSETS**
Tangible assets 5
946,286|351,858||
||**946,286**|**351,858**|
||||
||||
||||
|**CURRENT ASSETS**
Debtors
6
4,875
Cash in bank
20,455|-
49,985||
||**25,330**|**49,985**|
||||
||||
|Creditors falling due within one year
7|(13,488)|(130,000)|
||||
|Creditors falling due in more than one year
7|(495,000)|(40,000)|
||||
|**NET ASSETS**|**463,128**|231,843|
||||
|**FUNDS:**|||
||||
|Unrestricted Funds|463,128|231,843|
||||
|**TOTAL CHARITY FUNDS**|**463,128**|231,843|
|Approved by the Trustees on 21 November 2022 and signed on their behalf|Approved by the Trustees on 21 November 2022 and signed on their behalf|
|---|---|
|………………………….|…………………|
|A Brown|D Green|
|Chair of Trustees|Treasurer|
The notes at pages 7 to 10 form part of these accounts.
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Green Hill Trust Accounts for year ended 5 April 2022
## **NOTES TO THE ACCOUNTS**
## **1 Accounting Policies**
## **(a) Basis of preparation and assessment of going concern**
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 United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements have been prepared under the historical cost convention.
## **(b) Funds structure**
Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects.
## **(c) Income recognition**
All incoming resources are recognised once the charity has entitlement to the resources, it is certain the resources will be received and the monetary value can be measured with reliability.
## **(d) 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 settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
## **(e) Irrecoverable VAT**
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
## **(f) Fixed Assets**
Fixed Assets are measured at cost less accumulated depreciation. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land No depreciation Freehold buildings 50 years straight line
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Green Hill Trust Accounts for year ended 5 April 2022
## **(g) Debtors**
Debtors are recognised at the settlement amount due or income amount accrued net of any discounts due.
## **(h) Creditors**
Creditors are recognised at their settlement amount after allowing for any discounts due.
|**2a**
**Income from Donations and**|**Legacies**|||||
|---|---|---|---|---|---|
||||**2022**||**2021**|
||||**£**||**£**|
|Donations including tax recoverable
**2b**
**Income from charitable activities**|||**296,875**||**67,250**|
|||||||
|||||||
||||**2022**||**2021**|
||||**£**||**£**|
|Rental property income
**2c**
**Investment Income**|||**6,989**||**2,602**|
|||||||
|||||||
||||**2022**||**2021**|
||||**£**||**£**|
|Interest income
**2d**
**Other Income**|||**-**||**218**|
|||||||
|||||||
||||**2022**||**2021**|
||||**£**||**£**|
|Profit on disposal of fixed assets|||**5,220**||**-**|
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Green Hill Trust Accounts for year ended 5 April 2022
## **3 Analysis of Charitable Expenditure**
|||
**2022**
**2021**|
|---|---|---|
|||**£**
**£**|
|Grants
Depreciation
Interest on loans
Direct costs incurred on rental property
Bank Charges||**52,875**
10,750
**8,100**
3,600
**11,820**
-
**4,981**
-
**23**
-|
|**Total**||**77,799**
14,350|
## **4 Staff & Trustees**
The Trust has not employed any staff in the current or prior years. The duties have been undertaken by the Trustees. No remuneration or expenses were paid to any trustee (or their connected parties) during the current or prior years.
The total amount of donations received from Trustees and connected parties was £45,500 (2021: £36,000).
At the year end there were unsecured long term loans of £190,000 (2021: £Nil) due to the Trustees and connected parties on which interest was charged at 3%.
At the year end there were unsecured short term loans of £5,000 (2021: £65,000) and unsecured long term loans of £30,000 (2021: £35,000) due to the Trustees and connected parties which were interest free.
## **5 Fixed Assets**
|**5**
**Fixed Assets**||
|---|---|
||**Land & buildings**
**Total**|
||**£**
**£**|
|**Cost**||
|As at 6 April 2021|359,957
**359,957**
698,168
**696,168**
(98,092)
**(98,092)**|
|Additions||
|Disposals||
|As at 5 April 2022|960,033
**960,033**
8,099
**8,099**
8,100
**8,100**
(2,452)
**(2,452)**|
|||
|**Depreciation**||
|As at 6 April 2021||
|Charge for the period||
|Eliminated on disposal||
|As at 5 April 2022|13,747
**13,747**|
|||
|Net Book Value at 5 April 2022|946,286
**946,286**|
|Net Book Value at 5 April 2021|351,858
**351,858**|
|||
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Green Hill Trust Accounts for year ended 5 April 2022
## **6 Debtors**
|**6**
**Debtors**||
|---|---|
|**2022**|**2021**|
|**£**|**£**|
|Prepayments and accrued income
4,875|-|
|**4,875**|-|
## **7 Analysis of Creditors falling due within one year**
|_Short term creditors_|**2022**
**2021**|
|---|---|
||**£**
**£**|
|Loans
Accruals|10,000
3,488
130,000
-|
||**13,488**
130,000|
|||
|_Long term creditors_|**2022**
**2021**|
||**£**
**£**|
|Loans|495,000
40,000|
||**495,000**
40,000|
Short term loans are unsecured, interest free and repayable on demand.
Long term loans include £465,000 (2021: £Nil) which is unsecured, interest is charged at 3% and the loans are due to be repaid on or after 1 December 2026 (with 6 months notice period given at any point from this date).
Long terms loans also include £30,000 (2021: £40,000) which are unsecured, interest free and with no repayment date.
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Green Hill Trust Accounts for year ended 5 April 2022
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GREEN HILL TRUST**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2022.
## **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**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
3. 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
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.
Adam East ACA Azets Suites B & D Burnham Yard Beaconsfield HP9 2JH
23 November 2022
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