REGISTERED CHARrrY NUMBER: 1185301 Unaudited Flnancial Statements for the year endEd 31 October 2024 for The Lenchwo(Kt Trust Nicklin Accountancy Services Llmited Church Court stourbrfdge Road masoWen West MOknnds B633
The Lenchwoc#J Tiust Contents of the Financlal Statements for the year ended 31 October 2024 Page Rewrt of the Truste Independent Examinerfs Report Statement of Financlal Activitles Balan Sheet Cash Flow Statement Notes to the Cash Flow Statwnent Notes to the Anaftcial Statements 8 to 13 Detailed Statement of Financial Actfvlties 14 tts 15
The Lenchwooc$ Trust Rert of the Trustees for the year ended 31 October 2024 The trustees present Ihelr reD)rt with the financlal statements ol the chaTity for the year ended 31 October 2024. The trustee5 have adopted the provision5 01 Accounting and Reportlng by Charlttes.. Statement of Recommended Practice appllcable to ChatIeS preparing their accounts In accordance wilh the Flnancial Reporting Standard appfIcae In the UK and Republic of Ireland IFRS 1021 (eflective l January 20191. OBJ£CTIVES AND AcfiviTIES Objectives and alms The purpos of the charlty as sel out in the governlng docvment are to erett and operate a home to be used for rest and recreation for the LEllefit of Christians of any denominatK)n. The long-term aim of the chaiity is to conynue lo make the site attractive as a destinatlon for groups btsth large and small to come g) as to be refieshed, renewed 6nd restored In body and Spirtt. To thls end it alm% In the ghort-term to further develop the slte and Improve the service ollered. Success in the rerortlng period Is seen in the number ol groups and individuals attendlng and the number of those fRrsons who condnue to return In successNe years. Slgnificant artlvitie5 The main acttY undertaken in relation to the chaLIS purrose Is the operalk)n ol a conference faclllty and camping bad dCCOtnm(Klatlon facllitios at Spitten Farm, Worcestershire. This activity invoives hlrlng out the facllities ftsr retreat or conference use by Indfvldua15 or groups for week or weekend visits. Resources avaIlate for thls activrty include a 200 seat conlerence hall, 8 statlc caiavans, d farmhouse venue, a large camping field, and niore than 50 acres of serviced fields for events. Public benefit The truste consider that the actfvitle% ndertaken ale for the public benefit and they have had regard to Charity Cornmission gulcfance on public benefit. ACHIEVEMENT AND PERFORMANCE Charitable actlvitiÈs The main a(hVeMentS in the period have been the further enhanceThent of the yte and the steady grovrth in generawon of Income. Income from the provision ol retreat and conference facilit5 in the year to 31 (ktobeT 2024 was almost £71,000, cotnpared to almost £66,000 In the the previous seven month period, and this Income represented 27Qkn of the related expendlture (previous year.. 49Q/ol. Cash at bank increased significantly to over £235,000. Overèll the trustees consider the perlod to have been one of significant Suc in coTrbnuing to assu the charlty's survival after several perlods ol unprecedented difficultte5. Internal and external factors The princlpal rtsks an£J uncertalndes faced by the charlty are the uncertainty ol future income slreams an6 the costs of intended development work. These will be fflanaged by the einployrnent of comrEtent, adequatety remuneTrted support staff wlth a professK)nal attitude aad through monitoring by a locussed trustee with a variety of relevant cOmpetencs. FINANCIAL REVIEW Financial position The trustees con&der the charity to be in a strong financial ltIOn at the year end with a positive cash balantt and a subsiantial value In tangible ets. Princlpal fundlng sourcès The charit¢g principal funding sources will contlnue to be income from the tting of conference and accornmodation facilities and the rental Income frorn sorrE rts of the land owned, which together sUprt the objettNes of provkling [EnefS to wsitors and continulng enhancements. Resetves pollcy The charSty's reserves poliry Is to hold an equÈv8lenl of approximately six months, normal expendlture In reserveg. The trustees conslder Is necSary tts hold rerves to insure against a possiblo future shortfall in Income or unpredlctaNe costs. Tolal funds at the end of the year were 11,644,690, of whlch £313,903 were restricted funds, Within the unrestricted funds there are £1,136,431 (October 2023: £1,E63,4271 held In the form of tsngible fixed assets. Therefore after tnaking allowance for restrictecs funds and funds emtK)died In fixed asts, the amunt of reserves at the end of the year was E194,356 ICktoLw 2023.. E222,012 negat5ve). Therefore the charitys rÈ5erves are now broadly In Ilne with the policy. Page I
Lench¥vcod Trust Rewt of the ThstÈÈs for the year entsl 31 Ortthr 2024 FUYIIRE PLANS The Int In the comlry year to STRUCTURE, GOVERNANCE AND MANAGEMENT aoveTnlng document The charty govwned by Its govemlng dcument, Its eonsthlon as a tharital>le Ipratj Ikgan&thn. fte¢ruStment ad appolntment of new truslees The trustEe5 have conldered the slIS need&J wh regards to the governan of The Trust and regula ieview thls In rthtpon to truslees In wt. The LerKhwor TNst acllvety seeks new trLJStees where Iherf Wk1 bmng add(nal expertlse that would bE of ell¢. Organlsatlonal slru¢ture The ch3rfty1s governed by Its thjstees, who Meet regulaty to wke decin$. Indu¢tlon and tralnlng of new trustees I new trnstees are Prodèd vrfth literatu oullln1ng thelr responsibr(les are brlefed through IntrodLthry en95 aUl1J)e or9anlzatkTh thdr rolè Ore they trustees. kt$k management Tre trustees have a duty to Idenbfy aThJ the risP5 to whkh the chrty Is exSed and to approwate controLs are In fAace to provkje assuran agalnst frad and erfor. REFERENCE ANDAOMINISTPATIVE DETATLS Reglstèred tharlty numljer 1185301 Prlnripal addr8$8 Lenchwood chsu3 Cwtre Spltten Farm A$ Lench Evesham Worcesiershlre WRII 4UP Trustees R Fran1n Ire&gned 25.6.241 R Po£(k F Ferrett D Cave Mrs R thD(k J Harper Ire&gnel 2,8.241 A W rdall lappolnted 11,4.241 IreAgned 20.6,241 R S C Twall 20.1.24) Ires¥Jned 20.9.241 P j0hllst lappolnied 6.9.241 EJohn5ton lapOntvJ 6.9.241 Independent Eximlner Accounlaw senfj Umlted (*vrch Court Stourbrfdge Rgad HaleWe West mlandS 8633 ApprovLYJ byorderof the trard of tnjstees on.. and on Its beha ty.. . Trustee Page 2
Independent Examlner's Report to the Tiustees of The Lenchwood Trust Independent examiner's report to the trustees of The Lenthwood Trust I report to the charlty truste on my examination of the accounts ol The Lenchwood Trust (the TTUStI lor the year ended 31 Cktober 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparalon of the accounts In accordance with the u%rements ol the Charities Act 2011 llhe Act'l. I report In respect OF my examlnadon ol the Trust's accounts carried out under Section 145 of the Act and in carrying out my examlnatlon I have followed all appllcable Dlreclion5 given by the Charity Commissbn under Section 145(5)Ibl of the Independent examirtÈr's statement Slnce your charivs gross income exceeded £250,000 your examlner must be a mernr of a listed bt)dy. I can coTrlirm that l am qualified Éo undertake the examlnatlon l)ecèuse l am a member of the En5titute of Chartered Accountants in England and Wales, which is one ol the listed bodies. I have completed my exatniTration. S confirrn that no material matters have come to my attentlon In connectlon wlth the examination giving rne cause to believe that in any material reSpt.. accouTrbng records were not kept In ressxt ol the Trust as required by Section 130 or the Act,. or the accounts do not accord wlth those records,. or the accounts do not comply wlth the apJkable requirements conterniftg 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 lair view which 15 not a matter considered as part ol aTh Independent examlnation. I have no concerns and have come across no other matters In connection with the examlnalion to which attention should be drawn In this rewrt in order to enable a proper understanding of the rtccounts to be reaihed. Mark Howell FCA The Institute of Chartered Accountants in England and Wales Nicklin Accountancy Services Mited Church Court Stourbricfge Road HalOwen West Mldlands B63 3r[ Page 3
The LchwOOd Trust Stateinent of Financial Actwitieg for the year ended 31 October 2024 Period 1.4.23 Year Ended 31.10.24 Total funds 31.10.23 Total funds Unr&trict fund Restrfcted fund Endowrnent fund Notes INCOME AND ENOOWMENTS FROM Donations and legacles 16,634 650 17,284 4,036 Charitable actlvitles Provlslon of conferenTr fadlitles 70,971 70,971 65,944 Investment Inc¢Mne Other income 25,903 521,931 25,903 521,931 17,900 Total 635,439 650 636,089 87,880 EXPENDITURE ON Charitable activities Provision of conference faciliti 246,067 246,067 134,630 NET INCOMEI(EXPENDITURE) 389,372 650 390,022 (46,750) RECONCILIATION OF FUNDS Total funds brought forword 941,415 313,253 1,254,668 1,301,418 TOTAL FUNDS CARRXED FORWARD 1,330,787 650 313,253 1,644,690 1,254,668 The notes form part of the* fifiancl81 statements Page 4
The LeTKhwood Trust Balance Sheet 31 October 2024 2024 Total nd$ 2023 Total fund5 Unrestrfcted RÈstrkied fund fvnd Endowment nd FIXED ASSErs Thnglble 8ssers io 1,136,431 313,253 1,449,684 1,476,680 CURREKT ASS5 Debtors Cash at baThka In hand li 6,966 234,554 6,966 235,204 650 6,352 241,520 650 242,170 15,436 CREDATORS Amountsf£lliry due wttNn one 12 (24,668) 124,6681 1210,5051 NET CURRENT ASSETS 216,852 650 217,502 {195,0691 TOTALASSs LESS CVRRENT LIABILITIES 1,353.283 650 313,2YJ 1,667.186 1,2BI,6LI CREDITORS Amountsfalling due after Tnore than oneyear 13 (22,4961 122,4961 (26,9431 NET ASSETS 1,330,787 650 313,253 1,644,690 1,254.668 FUNDS Unrestdcted funds Restsicted fun Endfftent fijnds 15 L,330,787 650 313,253 941,415 313,253 TOTAL FLINDS 1,644,690 1,254,668 The finèndal statements were awmved ty Ihe Board rf Tn¥stees arby autfv)rfs& for Issue and wwe gnj on Its blf bv.. Iikn....A.,...Ip(tsl OCLK*. Trustee The MtÉs fom part of thÈ£e ftnandal statements Pa9e 5
The Lenchwo(x* Trust Cash Fl(Iw Statement for the year ended 31 October 2024 Perfod 1.4.23 to 31.10.23 Year End 31.10.24 Notes Cash flows from operating actlvities Cash generalal from operation5 Interest paKI 1323,4841 17521 10,906 14001 Net cash (used in)Iprovided by operatlng actlwtles (324,236) 10,506 Cash flow5 from Investlng artivitie5 Purchase of tan9ible fixed assets Sale of tangible fixed assets Interest received 146,183) 588,931 10,340 (8,785) Net cash provlded byl(used Inl Investlng actNltles 553,088 {8,785) Change In cash and cash equlvalents In the reportlng period Cash and cash equivalents at tFte beglnnlng of the reporting perÈod 228,852 1,721 6,352 4,631 Cash and cash equivalents at the end of the reporting period 235,204 6,352 The notes form part ol these financlal statements Page 6
The Lenchwood Trust Notes to the Cash Flow Statement for the year ended 31 October 2024 RECONCILIATION OF NET INCOMEI{EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES Period 1.4.23 to 31.10.23 Year Ended 31.10.24 Net incomel(expenditure) for the reporting period (as per the Statement of Financial Activitie5) Ailiust¢llents for: Depreclallon charges Pioflt on disposal of flxed asseis Interest received Interest paid IDecrease)lincrea*'. loan5 from trustees Bounce thck loan repayment Decreasel(increase) in debtors IDecreaSelllrKè$e in creditors 390,022 (46,750) 6,179 {52E,931) (10,3401 752 (178,1001 14,4471 2,118 17,7371 2,529 400 45,500 12,616) 16,572) 18,415 Net cash (used in)/provided by operations 1323,484) 10,906 ANALYSIS OF CHANGES IN (DEBTIIFUNDS At 1.11.23 Cash flow At 31.10.24 Net cash Cash èt bank In hand 6,352 228,852 235,204 6,352 228,852 235,204 Debt Debts falling due wilhin l year Debts falllng due after l year (182,882) {26,943) 178,1( 4,447 14,782) (22,4961 1209,825) 182.547 (27,2781 Total 1203,473) 411,399 207,926 The notes form part of these financial statements Page 7
The LenChw0 Trust Notes to the Flnancial Statements for the year ended 31 (ktor 2024 ACCOUNTING POLICIES Basis of preparlng the flnanclal statements The flnanclal statements of the charity, which Is a public tEnefit entity under FRS 102, have been prepared in accordantr with the Charibes SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities pre{rIng thelr accounts ln atcordance with th2 FinBnclal Reporting Standard applicable In the UK and Rewiblic of Ireland IFRS 1021 {effeclive l January 20191,, Financial Reporting Standard 102 'The Flnanclal Reporting Standaid applicable in the UK and Republic of Ireland. and the Charities Act 2Qll. The financial statements have Ien prepared under the historical c05t conveTrtion. Income AJI Income is recognised in the StalemeTrt of nancial Acb'vities once the charity has enuuement to the funds, It Is probable that the income wi15 be receiv and the amount can be measured reliably. Income Includes monles from lettings and rents. Det4)slts recelved Sn advance for lettings which are not due to lake pkce untll the follo¥ving year are not recognised as Income but are Included as a deferred incatne creditor within the balance sheet. ExpendltLFre Llaknlitie5 are recognlsed as expendilure as soon as there is a legal or construttlve obligètlon committing the charity to that expenditure, it 15 probable that a transfer of economk benefits wlll be requlred In Lottment and the amount of the obligation can be measured rellably. EXpendtiu Is accounted for on an accruals basis and has been classifled under headings that aggregate all cost related to the category. Where c05ts cannot be directly attributed to partlcular headlngs they have been allocated to acbyilies OTr a basis consistent with the use of resources. Governance costs Grants have been received as compensation for costs already Incurr or for Immedlate flnanclal support, wlth no future rel)te£S costs, these have recognlsed as income in the perlod11 was recelved. Tanglble flxed assets No depretiation is prowded on freehold property on the grounds that the property primarlw consists of land, wlth associated blI{JingS, and its aggregate residual value is not expected to dlmlnlsh below origlnal cost, Taxation The chartty Is exempt from tax on its charitae actrvities. Fund actounting Unrestricted funds can tR used in accordance with the charitable objectlves at the dIretIOn of the tr¢Jstees. Restricted funds can only be used for p0Cular regtrycied purposes wh1n the objects ol the chèrlty. RestrictK>ns arise when specified by the donor or when funds are ralsed for partlcular restricted purposes, Further expL3natiDn of the nature and wrpose of each fund Is Included in the notes lo the financial statement5. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financlal Actfvllles on a stralght Ilne basls over the rIOd of the lease. DONATIONS AND LEGACIES Period 1.4.23 to 31.10.23 Year Ended 31.10.24 Donations Gift aid 15,354 t,930 4,036 17,284 4,036 Page 8 continved...
The Lenchwood Trust Notes to the Financla1 Statements- condnued for the year ended 31 October 2024 INVESTMENT INCOME pe0d 1.4.23 Year Ended 31.10.24 31.10.23 Rents retewed Interest receivable 15,563 10,340 17,9(M) 25,903 17,900 INCOME FROM CHARITABLE AcfiviTIES Period 1,4.23 to 31.10.23 Year Ended 31.10.24 Acbvity ProNYsion OF Conferen facllitles Retat and conference hire 70,971 65,944 CHARITABLE A]VITIEs COSTS SuprK)rt C05ts (see note 61 Direct C05ts Totals Provision of conference facillties 242,032 4,035 246,067 SUPPORT COSTS GOveranCe costs Totals Pioirision of conference facllitles 435 3,600 4,035 Support costs, Included in the above, are as follows: Governance costs Pe¥lod 1.4.23 to 31.10.23 Year Ended 31.10.24 Provlsbn of conference Total Independent examlnatlon 3,600 3,250 Page 9 conlinuecf...
The Lenchwo(KJ Trust Not to the Financlal Statetnents- coDtlryue(I for the year ended 31 October 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remunerallon or other benefits for the year ended 31 October 2024 nor for the rtOd ended 31 October 2023. Trustee5' expen$es The were no trustees. expenses paid for the year end&1 31 Ottober 2024 nor for the period ended 31 October 2023, STAFF COSTS Period 1.4,23 lo 31.10.23 Year Ended 31.10.24 Wages and salartes 75,510 35,772 75,51Q 35,772 The average monthty number of employees during the year was as follows.. Pericd 1.4.23 to 31.10.23 Yeai Ended 31.10.24 Managet No employeff received ernoluments In excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricl Restricted fund fund Endowment fund Total funds INCOME AND ENDOWMENTS FROM Donation5 and legacies 4,036 4,036 Charitable activitles ProvisK)n of conference lacllitles 65,944 65,944 Investment Income 17,900 17,900 Total 87,880 87,880 EXPENDITURE ON Charitable activltles Pmv15ion ol Conference facilities 134,630 134,630 NET INCOMEI(EXPENDITURE) 146,7501 (46,7501 RECONCILIATION OF FUNDS Total funds brought foNard 988,165 313,253 1,301,418 TOTAL FUNDS CARIUED FORWARD 941,415 313,253 1,254,668 Page 10 conunued...
The Lenchwood Trust Note5 to the Financial Statements- tontinued for the year ended 31 October 2024 io. TANGIBLE FIXED ASSETS Fixtures and rittings Freeho property Plant and machlnery Motor vehIcS Totals COST At l November 2Q23 Additk>ns Tr5posals 1,464,708 17,781 {67,OlX>I 123,881 19,088 100,650 9,314 600 1,689,839 46,183 167,000} At 3J October 2024 1,415,489 142,969 109,964 6CIO 1,669,022 DEPRECIATION At l November 2023 Charge for year IE6,307 3,888 96,689 2,227 163 213,159 6,179 At 31 October 2024 120,195 98,916 227 219,338 NET BOOK VALUE At 31 October 2024 1,415,489 22,774 11,048 373 1,449,684 At 31 ottober 2023 1,464,708 7,574 3,961 437 1,476,680 ii. DEBTORS,. AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Trade debtors VAT PrepayrrEnts 642 2,601 5,841 5,459 1,507 6,966 9,084 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdiafts {see note 14) Trade creditors Taxatton and s(Kks1 security Other creditors 4,782 4,782 1,659 715 203,349 730 19,156 24,668 210,505 Page 11 conbnued...
The Lenchwocxj Trust Notes to the Financlal Staternents- contlnued for the year ended 31 October 2024 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORETHAN ONE YEAR 2024 2023 Bank loans (see note 141 22,496 26,943 14. LOANS An aTralysis of the maturity ol loans Is given bdow.. 2024 2023 Amotsnts falling due withln one year on demand.. Bank loans Other loans 4,782 4,782 178,100 4,782 182,882 Amounts falling betw&n one and two years.. Bank loans- 1.2 years 4,782 4,782 Arnounts falllng due bemveen iwo and five years.. Bank loans- 2-5 yea 17,714 22,161 15. MOVEMENTIN FUNDS Net movemeftt in funds Al I.IL.23 At 31.10.24 UnrestrScted funds General fund 941,415 389,372 1,330,787 Restrirted funds Support fund 650 650 Endowment funds Endowment 313,253 313,253 TOTAL FUNDS 1,254,668 390,022 1,644,690 Net movement in funds, Included In the aixTrve are as follows.. Incomlng Sou$ Resources expendLYI Movement In fuftds Unrestrlcted funds General fund 635,439 (246.067) 389,372 Restrlrted funds Supth fund 650 650 TOTAL FUNDS 636,089 1246,067) 390,022 Page 12 contlnued...
The LenchwoDd Trust Note5 to the Financial Statements- continued for the year ended 31 October 2024 15. MOVEMENT IN FUNDS- continued Comparatives for movement In funds Net movement in funds At 31.10.23 At 1.4.23 Unrestricted funds General fund 988,165 {46,750) 941,415 Endowment funds Endowment 313,253 313,253 TOTAL FUNDS 1,301,418 146,7501 1,254,668 Comparative net movement in funds, Included In the above are as follows.. Incoming res(>urces Resources exnded Movement in funds Unrestricted funds General fund 87,880 1134,6301 (46,750) TOTAL FUNDS 87,880 (134,6301 146,7501 16. RELATED PARTY DISCLOSURES During the year donations of £12,704 (2023.. Enill were received from trustees. Durillg the previous period, a loan of £111,500 wa5 received from Mr R Pocock, trustee, and a loan of £66,600 was reiVed from Worcester Power Limited, a company in which Mr D Cave, trustee, had a substanti?1 interest. These loans were interest-free and were repaid in full during the year, leaving no outstanding balance at the year end.. 17. RESTRICTED FUND The restricted fund Const5 of donatiDf15 to it Used purely towards giving breaks to Christian workers whts are unable to afford it themselve5. Page 13
The Lenchwood Trust Detail Staternent of Financial Acknwties for the year ended 31 Ikto*¥ 2024 Period 1.4.23 Year Ended 31.10.24 31.10.23 INCOME AND ENDOWMENTS Donatlons and legacles Donattons Gift ald 15,354 1,930 4,036 17,284 4,036 Investment lrtcome Rents recelved Interest receivable 15,563 10,340 17,900 25,903 17,900 Charltable actlvltles Retreat and conference hlre 70,971 65,944 other income Gain on sale of tangible fixed asse 521,93 Total incoming resources 636,089 87,880 EXPENDITURE Charltable activities Wages PCKJ hlre Water rates Insurante Llght aad heat Telephone Adverusing House expenses Trainlnu Travel Business rates ènd Councll tax Skip hire and cleining Repairs and renewals Prlntlng and slationery Consumables Legal and professlonal Depreciation Bank interest 75,510 13,905 2,463 6,827 41,919 2,778 2,370 150 704 1,114 2,194 16,582 46,677 1,102 1,245 19,561 6,179 752 35,772 1,816 3,859 21,737 1,102 1,501 813 706 748 1,594 22,653 20,299 1,531 13,433 2,529 400 242,032 131,335 Support costs Finance Bank charges 435 Thls page does not form part of the statutory financial statements Page 14
The Lenchwood Trust Detailed StèteThEnt of Financlal Actlvltles ror the year ended 31 Oclober 2024 1.4.23 to 31.10.23 Year Ended 31.10.24 Flnance Governance costs Independent examination 3,600 3,250 Total resources expended 246,067 134,630 Net Incomel(expenditure) 39D,022 146,7501 Thi5 page does not form trt of the statutory finandal statentS Page 15