Unaudited Flnanckal Statements for the period l April 2023 to 31 Cktober 2023 The Tru4 Nlcklin ACCntaIv Semces Llmited Churth Court StOLKbrlJge Road Halewn West Mldlands B633
Contents of the Ffnanckl Statements for the Pe0d l Apiil 2023 to 31 October 2023 RÈport the Trustees I to 3 Indendent Examlnerfs Re>rt Statement of Flnanclal ActItIeS Balants Sheet Notes to the Financia Statements 7 to 12 Detalled statement of Fk)ancW Acuvttles 13
Rewrt of the Tru51ees for the perlod l April 2023 to 31 Cttober 2023 The trustees present thelr rerK)rt wSth the fi11 statements of the charity for the l April 2023 to 31 October 2023. The tnJsteÈs have adopted the prowsw)ns of Accounting and Repjrting by tharitles: Staiement of Recommended Practlre appli01b to ChareS preparing their accoLFnts in accordance with the Flnanclal ReportiThJ standard appllcable in the UK arnl Republtc c¢ Ir31 (FRS 102) [efftwe l January 2019). OBJECTIVES AND ACTlVtTIts Objertlves and alm5 The purposes of the charty as sel out lrt governing thajment are to erect and operate a home to used for rest nd lecreatn fcx the benefit of Clwlstlans of any denomknètton. The long-term alm of the charity is lo continue to make the site aitractNe as a deslinatlon for grwps both large and small to come so as to be refreshed. rentwed and restored in W and Splilt. To this end It aims in the short-teim to further devebp tk site and Improve the seNce offered. Success in the Tewrtlng pertod Is seen In the number of groups and kndfv(duals attending and the number of those perg)ns WI contlnue to rthm In sUCctsse yeats. Significant a¢tlvitie$ The maln actmty undetsken in Tdat6on to the chortvs pur Is the yaikin of a conference foclllty and camplng based accommodallon lacililles èt Sptien Fam), Worcesiershlre. This acuvity involves hlrlng out the facilities for retreat or conference use by Indl¥Aduals or groups for week or weekend visks. Resources available for this actfv¢ty Indude a 200 seat conference hall, 8 static caravans, a farmhouse venije, a large camF4no and more than 50 acres of SerCed nelds for events. Publlc benelIt The trustees conslder that the acllvttles undertsken are for the putllc benefit they have had regaro to Chaity Commlsslon gUIdan on rAJbllc benefit. ACHIEVEMENT AND PERFORMANCE Charltable actlvltle$ The rnaln achievements in the pertod have teen further enhanment of the stte, the stea(ty growth In generatlon of Income, and the converslon of the diarlty to a Charttat4e Incorporated Oigantsatlon. completed wlth the transfer of all the net assets and acilvttles of the prevh)us urfncorporatal charlty of the sane name (Charty numbw 505829) to the SUss0r entity on 30 September 2023. Income from the prov(sbn of retr&it and 0)nferen fxl¥Ues In the se4en rrK)nth p8lod was almost £66,000, compared to almost £92,000 In the the prevlous year, and this Inccffle reprewted 49% of the related expentfiture {prevkJus year: 52%). Cash at bank Increased sIhlty to over £6,0(Ml. Overall the trustees conslder the perfod to hwe been one of nlncant 9xcess In conynulng to asgjre the cl¥3rlVs suivwal after several periods of unwecedented dlftkuiti Internol and external fartors The prlnclpal dsks and uncertalntles faced by the chary are the uncertalnty of futwe IoMe slreams and the costs of Intended development work. These will be managed by the aMpk)yment of competenl adequately remunerated support 5tsff wlth a profe5sltsnal attitude and through monitorirvJ ty a focussed trustee tr)d¥ wlth a vailety of relevant competencies. FINANCIAL REVIEW Flnancial position The trustees conslder the chatlty to be In a strw Ilnanclal rxlsftlon at the year er¥J wlth a ?lfve cash balarKe and substsntlal value In tangible assets. The flnancl year end of the charfty has been changed to ie 31 October 2023, y) the flnanclal statements presenled erewlth show the of the seven pttlod to that date, the Compara fyJtsres are f the year lo 31 March 2023, On 30 September 2023 the net assets ar &bknlles of The LaKhWd Tnjst (Charfty numbÈr 505829), an unincorporated charity. were transferred to present charitab IoTporatl OrganLsation. In aCc0Tdan with the Charflles Statement of Recomrnended Pract5, thls combination has been accounted for as a d)arity merger. Consequently the results and net assets of the two entits have been presented in financ¢al siatements as if they had always been ofthe same rewbng chartty. P)Je I
Report of the Tntslees for the peri(xl l ApTI 2023 to 31 October 2023 FINANCIAL REVIEW Princip31 funding sources The charity'g princlpal fundlng sources wll contknue to be Income Irom the leiiiThJ of Conferen and accommodation faclllties and the rental incorne from some parts of the krKI own, whkh together support the objedNes of provtillng beneftts to visltors and condnulng enhancemenl& Reserves policy The charity's reseNes polky Is to hokf on 4UaTrt of approximate six finth nornial expendrture in ieseNes. The Iru5tÈes consider It Is necessary to hold resetves to insure against a poSsIb future sho(Yall in income iy unpTedlctable costs. Total funds at the end of the year were El,254.668, of which É313,253 were restrKted funds. Wllhln the unrestricted funds there are £1,163,427 (March 2023: £11,157,171) held in Ihe form of tanglble fixed assets. Thefore after making allowance for restricted funds and funds eMLle In red assets, the amount of SerVeS at the end of the year was £222,012 negative (March 2023- £169,¢X16 n&Jative). This continuing defidency reflects the consequences of the coronavlrus pandemic on the charity's operatr"orts. The trustees intend to brtng the value of reseNes Into Ilne with the policy over the comiivj years, by generaUng income and wogresslvely redudng Ilabllllles, In partKular by selectNe dsPOSat5 of parts of the tharity's land assets In the 2023-2024 year whkh VA11 generate substant5al surpluses and aPPToximatdy £600,000 d cash FUTURE PLANS The trustees Intend Sn Ihe comlno s*ar to make further changes to the chariivs assets including a slgnhlcant dlsposal of parts of the slle nol requlred for charltable acuviues, whlch will generate cash funds to al¢)w IlabllltS to be cleared and Improve the reseNes posltlon, as described above. STRUCTURE, GOVERNANCE AND MANAGEMENT Governln9 document The chailty Is g)vemed by Its g)vwnlng drxument, Its constittrtlon as a Charitable IrKorwated Org3nisatk)n. Rettultment and apw)Intment of new trustees The trustees have conskjered the skllls needed w(th regards to the WVeMar of The Lenchwood Trust and regularly reeW Ihis In relatlon to trusiees In FQ5t. The LerKhwOC Trust activety seeks new trustees where they would brlng addlllonal exFertlse that wcyjld be ol benefjt. OrgHnlsatlonal structure The charity Is governed by Its trustees, who meet rngularty to make dedsk% Inductlon and tralnlng of new trustees All new trustees are prOded with literature outlknkng tpdr re5wl5lt1l1IeS and are brtefed Ihiough Intrctyjuctory meetrngs abt the organlzatton and thetr role beftme they bKome trustees. Rlsk manaqement The Irugiees have a duty to Identify and revtthv the risks to whkh the tharfty Is exrse and to er6ure approprlale ¢ontrols are In place io provkle reasonable assurance ajainst fraud and error. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity number 1185301 Prlnclpal addre Lenchwtsxl Chrlstlan Centre Spilten Farm Abljots Lench Evesham Woro5tershire WRII 4UP Paje 2
Report of the Trustees for the per(Jd l 4)ri12023 to 31 CKtober 2023 Trustee5 R Flanklin R Pocock F Ferrétt D Cave Mrs R Pwxk J Harper (appolnted 9.8.23) A W Tlsdall (apwxnted 11.4,241 R S C Tisdall (appointed 20.1.24) Independent Examinar Nicklin Accountsncy SeNices Llmlted O)urch Court Stourbrfdge Road Halesowen West Midlants B633 Appri)ved by der of the board of In$ on ........ .... on Its behalf ty: R Pccock- Trustee Page 3
rndepehdent examlnavs report to ttst tiustets oiTh¢ LeDthwood Trnst I reporfc to thÉ chatlty trus on my e>2mkibkn of xtounts d The LerK]w Trust} for the ptt L Wll 2023 to 31 Iktetor 2023. Raspohslbllltleg Jnd bjslsof report As the charty trustee5 ci the TNst w)u afe for the of the accounts Wth Ihe r&wLrements ofthe Chèrltleskt 2011 I'the Ad'l. I rem In rtOrm¥ trAamknlon olthe Thv$¥cnts Unltrs1knn 145 of¥R kt and In c4rrylng Out I hwe all Conyrfsw urth Sedlon 14514(b) ol the Xhd¢p¢nd¢nt¢xJmlneesStt¢m8nt I havè complated My ethnalk)n, I c¢¥)ftrm that tm) mated21 rnatts hK Cthm trj my #ttknn Iho Inall me caw ro tha bn any mrtal re4.. accounthg re£ordsMwe rrt k4 h ({ ihe Tnbt¥ requ ty Seclkn j0fthet. the accwils do not vmh tlkW wrds,. or t accounts do not conpty wlth the appllcth requbMts forni and cart¢nt i¢¢ounb set out In the Chorfls IA¢(¢vnts Rer*irts) 2008 Oth¥ than wyrequlremént thol the ¥0)) tyvo twe lak whkh lstKI a motter conthre¢l •s wt ofan exam1. I hive no conciiA% and haw aLYW M thr mattwsln cfjnnecttC the towl&h thouk be drnwn In thos)rt In wdertoenable a proF¢r the acc¢1$ kn be r. Mark Howell FCA The Insfftuk lcrtered ACn11Th 14kklln Account(YSellInkn1 urch Co stovrbrhJg8 Rd Hale$owen West Mldknnds B633
statement of Financlal Activitles for the peri l April 2023 to 31 (Xtober 2023 Perf 1.4.23 Year Ended 31.3.23 Total fvnds 31.10.23 Total funds UThtstrkbJ EndM*t fijnd INCOMEAND ENDOWMENTS FROM Don3t10nS and legacies 4,036 4,036 13,718 Charitable actlvitie5 Provision of conference faclllties 65,944 65,944 9L,570 Investment income 17, 17,900 19,793 Total 87,880 87,880 125.081 EXPENDITURE ON Charltable actlvltles Provislcsn of ionference facillties 134,630 134,630 177,701 NET INCOMEI(EXPENDITURE) (46,750) (46,750) (52,6201 RECONCILIATION OF FUNDS Total funds brtsu9ht fon¥ard 98B,165 313,253 1,301,418 1,354,038 TOTAL FIINDS CARRIED FORWARD 941,415 313,253 1,254,668 1,301,418 The N)tes fomi part of these finanaal Stst Paoe 5
B8EanEeSheot 31 Qciober 2023 2L123 Totsl 2023 Tolal fijnds fund fid FIXED ASSETS Tang¥AÈ asse1$ 1,163,427 313R53 1076,6 1,470h24 CURRENT ASSETS 9084 6,352 2,512 4fi31 Cash ar bBTrkW kn hpNI 6,352 15,436 15,436 7,143 CREDxfoRS )unts falllng duèvthln (myeJr io {2LOAOS) (210,505) (146,5901 NET CURRENT ASSEY (195069) (195,069) (139,447) TOTAL ASSETS LESSCURRENT LIABILITIES 968A58 313253 1,281,611 1.330,977 CREOITORS fa1lng aftèrm 6 (26,943) P6.943) D959) NET ASSETS 911,415 313,253 1.251,668 1,301,418 FUNDS Unresirkted lthds ErtMEnt fur 13 911,41S 313,153 988,165 313,253 TOTAL FLINDS 1,2S4,668 1,301,418 Thé flnamclèl rté1èrn4nts apwthd by tho of Tre5 x¥J wlhDrfÉ*l lor ts$ en d were on Its behaYtry.' The notes form Part rl these statutwlts PJoa 6
Notes to the Financial Statements for the rIOd l April 2023 to 31 October 2023 ACCOUNTING POLXCIES Basls of preparing the financial statements Th8 financial statements of the charity, which is a public inefft under FRS 102, have prepared In accordance with the Charllles SORP (FRS 102) 'A(cntIng arNI Reporting by Charibe5". Statement of Recommended Practlce appllcabk to chèrlties preparing their accounts in èccordance wth the Flnanclal Reportln9 Standard appllcable In the UK and Republic of Iteland {FRS 102) (effectwe l January 2019),, Financial Reporting standard 102 7he Flnancial Reporting Standard applitable in the UK and Republ of Ireland, and the Charitie5 Act 2011. The financlal statements have en prered Und the hlstorical tost convention. Incijme All Income Is recognised in thÈ Stsianent of Flnanclal Acknmties On the tharity has entitlement to the funds, It Is probable that the Income wlll be recewed and the amounl can be measured re1k7b. Income includes mon5 from lettlngs and rents. Deposits reIVed in adva)ce for leltings which are not due to take pla until the followlng year are Mt r(]niSed as Income but are induded as a deferr&J Inco creditor wthin the balance sheet. Expendlture Liabilitie5 are recognlsed as expentlkwe os soon as there Is a legal or consttuctive obllgailon committing the charlty lo that expendlture. It Is probable that a transfer of econoffdc knefits wlll be reqLireJJ In settlement and the amount of the obligallon can be measur&1 lIab. Expendllure Is accounted for on an accwals basls and has n classlned under headings Ihal aggregate all cost related to the category, Where cosls cannot be dlredy attrfbuled to patUaJlar headlngs they have been allted to aclmlles on a ba515 consistsnl wllh the use of resources. Gov•rnance costs Grants have been recelved as Comnsatn for costs already Incurred or for immediate flnanckil support, th no fubjre related costs, these have Tecc9ni5ed os income In the It was rece. Tanglble flxed assets No depreclallon is provKleil on freehokl propty cn the grlS that Ihe wopety prfmarlly Con5 of lJr¥J, wlth assoclated bulldlngs, and Its agortyale resldual Val Is not exF¢Cted to dknlnlth below ryInal cost. Tèxatlon The charlty Is exempt from tax on its tharttable ¥bvltses. Fund accountlng Unrestricted fund5 can be used In accordano wlth the tharltajle obJecifve5 at the thretIon of the trustees. Restrkled funds can onty be used for parbcular restrtcted PLwses within the objerts of the tharfty. Restdthons arlse when spedfied by the deOr or sthen funds are raw for partkular restrfrted purposes. Further e%anatIon of the nare and wrp)se of each fLmd is IncIle0 In the notes to the ffiand81 statements. Hire purch¥g0 and le•slng commitments Rentsls pald under operating leases are chard to the Staterwt of Fnandal Activlties on a Straht Ilne basls over the peri¢)d of the leas£ INVESTMENT INCOME PerK 1.4.23 to 31.10.23 Year Ended 31.3.23 Rents r&elved 17,900 19.793 Page 7 continued...
Notes to the Financial Statements- conunued for the Fkriod l April 2023 to 31 (ktober 2023 SUPPORT COSTS &)veman costs FinarKe Totals Provlsion of Conferen faclFitks 3,250 3,255 Support costs, included In the alw, are a5 folk)V&S: Governance costs PerTod 1.4.23 to 31.10.23 Promsion Year Ended 31.3.23 (onference facilities Total activitles Independent eXnaon 3.250 3,000 TRUSTEES, REMUNERATION AND BENEFITS There were no trusteel remwberation or (ther benefits for the endtsj 31 Octdjer 2023 nor for the year ended 31 March 2023, Trustees. expenses There were no tnsstees, expenses pld for the rérfod eThJeJJ 31 October 2023 noi for the year ended 31 Marth 2023. srAFF C05rs The avwage monthly number cl emplo$ (knlng the perlcrfl was as foll*ts'. Pertod 1.4.23 to 31.10.23 Year Ended 31.3.23 MageMent No empksyees recelved emolumnts excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCXAL ACTIVITIES Unrestrtcted fund Endowment fund Totsl fut)ds INCOME ANO ENDOWMENTS FROM Donatlons and legacles 13,718 13,718 Ch)rltsble J¢tlvitie$ Provlslon of conference faawtles 91,570 91,570 Investment Income 19,793 19,793 Total 125.081 125,081 EXPENDITURE 014 Charltable actlvltles Provision of Conferen facilities 177,701 177,701 Page 8 cDntiNed...
Notes lo the Financial Statements. contlnued for the perkyj l Aprtl 2023 to 31 October 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVtriES - contlnued Unrestric End0vMDt fuF fuTh Totsl nds NET INCOMEI(EXPENDITURE) (s220} (52.620) RECONCILIATION OF FUNDS Tolal funds brought f(Mrd 1,040,785 313,253 1,354.038 TOTAL FUNDS CARRIED FORWARD 988.165 313,253 1,301,418 ANALYSIS OF THE STATEMENT OF FINANCIAL ACTIVThIES oft 30 Serember 2023 the net assels and actmtjes of LethJ Trust (a)adty number 505829), an ijnincorporated charity, were transferred to The Lenchwood Trust (Charity ftuMb 1185301), a Charltable Incorporated Organi5atkn (CIO). In ¥cLrdance wlth the c)rIDeS Stslement ol Recommended Practice, thls combination has been accounted for as a charity rnerg. Consequentty the results and net assets of Ihe iwo entttks have been presented kn these fin¥£l statements as If they had always L] part of the same reportlng charlty. The relevant anaysls Is pSented An•ly$ls of prlndpal SOFA components for the 7 months to 31 Oct¢ber 2023 The Lenchwood The LétKIMwd The Lenchv)d Trust Tiust Tnjst uo unlncorFwd prtrmerger pTrmerger The Lenchw¢y)d Trust comblned total Total Income Total e¥pendiiure Nel Sncomel(expendlture) 84,257 121,246 (36,989) 3,623 13,384 (9.761) 87,880 134,630 (46,750) Net movement In funds (36,989) (9,761) (46,750) Analyil8 ol prlndpal SOFA components for the year to 31 March 2023 The Le00d The LerKh¥K Trust Twst ao )Incorporated The Lenchwood Trust comblned total Total Income Total expendiiure Net Incomel(expenditure) Net movement In funds Total funds brought forward 125,081 177,701 (52,620) (52,620) la54,038 125,081 177,701 152,620) {52,620) 1,354,038 Totsl funds brought forward 1,301,418 1,301,418 AnaEygis of net assets at the date of merger The LenchwrKJ The L&)chwood Tn Trust ao unincorpy)rated The Lenchw(x)d Trust comtAned totsl Net asts 1,264,429 1,264,429 Represented ty. Page 9 (CtIn1jed,..
Notes to the Fhancial Ststements- continued for the period l April 2023 to 31 October 2023 ANALYSIS OF THE sfATEMENT OF FINANCIAL ACTIVmES- continued Unrestrlct&J fL*nds Endowment funds 951,176 313,253 951,176 313,253 Totol fvn& 1,264,429 1,264,429 TANGIBLE FIXED ASSETS Flxture5 and fitknngs Freehokl property Pbnt and machinery Motor vehicks Totsls COST At l April 2023 Addltlons 1,460,433 4.275 l23J81 95,140 4,510 1,681,054 8,785 At 31 October 2023 1,464,708 123,881 100,650 600 1,6B9,839 DEPRECIATION At l April 2023 Charge for year 115,014 1,293 95.528 1,161 88 75 210,630 2,529 At 31 October 2023 116.307 96,689 163 213,159 NET BOOK VALLIE At 31 October 2023 1,464,708 7,574 3.961 437 1,476.680 At 31 March 2023 1,460,433 8,867 612 512 1,470,424 DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2023 Trade debtors VAT Prepayments 642 2,601 5,841 875 1,637 9,084 2,512 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2023 nk103ns and overdrafts (see note 12) Trade creditors Taxation and socbl security oiher creditors 4,782 1,659 715 203,349 4,782 2,395 127 139,286 210,505 146,590 PJJe io conunued...
Notes to the Flnancial Slatements- COnnUed for the wriod l April 2023 to 31 OCtor 2023 11. CREDITORS: AMOUNTS FAIUNG DUE AFTER MORE THAN ONE YEAR 2023 2023 Bank loans (see note 12) 26,943 29,559 12. LOANS An anaS15 of the nwturity of bans Is given bdow: 2023 2023 Arnounts falllng due vlthkn one year on demand: Bank lo5 other 4,782 178,100 4,782 132,600 182,882 137,382 Amounts lalllng been one and two years: Bènk loans. 1.2 years 4,782 4,782 Amounts falling due bets¥een iwo and fNe years: Bank loans- 2.5 years 22,161 24,777 13. MOVEMENT IN FUNDS Net movement In funds At 31.10.23 At 1.4.23 Unrestricted funds General fund 988,165 (40,750) 941,415 Endowment funds Endowrnent 313,253 313,253 TOTAL FUNDS 1,301,418 (46,750) 1,254,668 Net moVnent In funds, Included In alm are as follows., Incomlng Resources Movement re9)Ur expendèd in fund5 Unrestrlcted funds General fund 87,880 (134,630) (46,750> TOTAL FUNDS 87ABO (134,630) (46.750) Page 11 continued,..
Notes to the Ftnanclal Statements- contlnued for the rIOd i Apiil 2023 to 31 October 2023 13. MOVEMENT IN FUNDS - contlnued Comparatlves for movement In funds Nel At 31.3.23 At 1.4.22 in funds Unrestiicted funds General fund 1.040,785 (52,620) 988,165 Endowment funds En(bwment 313,253 313,253 TOTAL FUNDS 1,354,038 (52,620) 1,301,418 Ccn)parallve net movement In fvnds, InCbjd in the are as fOllu$.. IMyniThJ ReUrceS expended Movement In funds Unrestrlcted funds Genera5 (und 125,081 (177,701) (52,620) TOTAL FUNDS 125,081 (177,701) (52,620) 14. RELATED PARTY DISCLOSURES Durlng the year donatlons of En51 {2022', £10,fyJO) We recehed from trustees, A loan of Elll,SOO wos recefved from Mr R Pocock, trustee, and a loan of £66,600 w¥ recelved from wOrster Power Umlted, a company In whlch Mr D Cave, truslee. had a Substant1 Interest. These loans were o(ttstanding at the year end. The loans were Interest free atKi had no fixed temis of repayment. Page 12
Detalled Ststement of Finandal Acllvittes for the pericd l April 2023 to 31 October 2023 1.4.23 Year En ded 31.10.23 31.3.23 INCOME AND ENDOWMENTS Donatlons and legacles Donations 4.036 13,718 Investment income Rents recewed 17,900 19,793 Charltable actlvltles Retreat and conference hire 65,944 91,570 Total Incomlng resources 87,880 125,081 EXPENDITURE Charltable actlvltles Wages Equlpment hlre Water rates Insurance Light and heat Telephone Advertysing House expenses Tralning Travel 8usine5s rates and C¢wncil lax Sklp hlre and cleanln9 Repairs and renewals Pllnling and slattonery Consumables Legal and professSonal Depreclalion Bank interest 35,772 55,258 350 2,276 6,740 18,580 1,930 1,716 1,632 2,622 357 2,850 18,255 26,878 1,616 1,768 12,066 18,375 1,150 1,816 3,859 21,737 1,102 1,501 813 706 748 1,594 22,653 20,299 882 1,531 13,433 2,529 400 131,375 174,479 Support costs Flnance 8ank charges 222 Governance costs Independent examinauon 3,250 3,000 Total resources expended 134,630 177,701 Net expendlture (46,7501 (52,620) Thls page doe5 not fom part of the statutory financial statements Page 13