SWP MINISTRY Trus olthe LORD SHERBORNES WITH PAMBER MINISTRY TRUST- TRUSTEES REPORT Purpose . The purpose of Sherbornes with Pamber Ministry Trust ISWPMTI is to advance the Christian religion in the diocese of Winchester primarily within the parish of the Sherbornes with Pamber and in particular Ibut not exclusively) to pay or contribute towards the salary, costs and expenses (including the provision of living accommodation) of a Christian worker or workers employed by the Parochial Church Council IPCCI of the Sherbornes with Pamber ISWPI and approved by the trustees and to support evangelism and pastoral work. The trust was set up in 2021 to replace the Sherbornes with Pamber Parish Trust ISWPPTI. Main charitable activltles . R3ising funds and providing gifts to cover the salary and expenses of the parish ministry a5SlStants IPMAI. including the payment of rent. Highlights in the Year to 311812024 . During the year, the income of the trust was £ 25.674.04 and the expenditure was £5.510.00. Overall, income exceeded expenditure by £ 20.164.04. The funds increased from £238,272.89 to £258,436.93. Trustees . Peter Marrison, Nicholas Robert Harding, Andrew Mark Spence, Nicholas John Elphick, Kirtna Brack and Jenni Monger lappointed 30/1120241. Nick Harding and Andrew Mark Spence have a150 been on the SWP PCC throughoLtt the year. The trustees met three times in the year to ensure the trust is being rLJn in accordance with the trust document considering the Charity Commission guidance on charities for the advancement of religion and the public benefit, review the financial position and consider future opportunities. New trustees are elected by the existing ones and there is no set term for serving as a trustee. All trustees affirm the doctrinal statement annually as committed Christians Wlth evangelical and biblical beliefs including The divine inspiration and supreme authority of the bible The universal sinfulness of man and the certainty of judgement The death of Christ taking the penalty for sinners and bodily resurrection from the dead The necessity of individual new birth by the Holy Spirit The visible evidence of personal repentance and Christian living The certain expectation of the personal return of the Lord Jesus Christ
Financlal Review Expenditure of £5,510 was up by 108°A on the previous year. This was made up of gifts to the PCC of £4,600 lup 97Yol and £550 to the SSJ school and fees to the independent examiner of £360 lup 20%). All expenditure was in accordance with the aims of the Trust. The gifts to the PCC were £800 for the costs of a Growth Course, £300 for ministry reading materials and £3,500 to support the PCC contributing the full cost of a full-time minister to the Diocese of Winchester in 2024. The PCC did not employ a Parish Ministry Assistant during the year. The income of £25.674.04 down by 13% compared to the previous year. This was made up of regular donatr.ons of £17,430.00 Idown 15%), one-off donations of £80S.86 lup 9%), Gift Aid reclaimed of £3,361.25 (down 49%), interest on deposits of £4,076.93 lup 261%1. Donations are mainly from members of the church congregation. Enquiries about donat'ons are dealt with confidentially by the parish stewardship secretary Lynda Harding, who administers the gift aid reclaims. The assets at the end of the year were £258,436.93. This reflected an increase in fund5 of £20,164.04 reflecting that the PCC did not employ a PMA during the year. This compared to the increase of £26,786.30 for the previous year. Outlook for the coming year . The trLtst aims to alleviate the PCC'S costs if it employs a PMA together with the PMA'S 3ccommod8tion costs of living in the parish. As there is currently no PMA, no costs are anticipated until the PCC employs a new PMA. There are no restricted funds and hence all existing fund5 can be used for any purpose permitted within the trust rules. The trustees intend to use the bequest of £179,788 passed to it by the SWPPT as a separate Property Fund to cover future accommodation costs of PMAS. This may involve taking a mortgage loan to supplement the bequest to afford purchasing a suitable property, but the timescale for this remains uncertain.
THE SHERBORNES WITH PAMBER MINISTRY TRVST REGisfERED CHAIUTY No 1194771 ACCOUNTS FOR THE YEAR FROM I SEPTEMBER 2023 TO 31 AUGUST 2024 Fund5 at 311812023 Funds as at 3110812024 Lloyds Bank Account 67.724.46 Uoyds Bank Account 18,811.57 Virgin Money Account 84,974.98 ViryJn Money Account 86,132.45 KSn8dom Bank Account 85.573.45 Kingdom Bank Actount 88,492.91 Charity Bank Account 65,iyJ). Due to the Trust Due to the Trust Due from the Trust Due from the Trust Total 238272.89 Total 258A36.93 I10$e In fvnds durfn8 the yearended 3YOV24: £ 20.IM04 Income and lthre In the Year Ended 3 Income £ Donations gUlar 2023 20.435.IXI 2024 17.430. Expendlture £ Glfts to SWP PCC 2023 2.340.89 2024 4.61XJ.00 Donations on&t)ff 4C4.37 805.86 Gifts to Parish Ministry Assistsnt to offset accommodation costs Tax lief on donations 6.f.C 3.361.25 Gifts to SSJ school 550.CI) Interest 1.126.62 4,076.93 Professional Fees- Indepet)dent Examlner 360.(XI Rental depOt refund Total IKome 861.CQ 29,427.19 25,67&04 T4)tal Exp•ndrture 1640.89 s10.1)0 Excess of Income over Exp2ndlture In year ended 3118124: £20.16&04. Note . The accounts were prepared on a receipts and payment basls. Approved bythe tntstees and 518ned on thelr behalfby Nicholas Harding- Trustee and Honorary Treasure Date: CorresrM)ndence Address . 19. Cranesfield. Shert)orne St John. Basingstoke. RG24 9LN
Independent Examiner'5 Report to the Trustees of the Sherbornes with Pamber Ministry Trust I report on the accounts of the trust for the year ended to 31 August 2024 and Financial Review, which are set out on pages 2 to 3. Resperttve responsibilities of the Trustees and the Examiner The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under sectr.on 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the 2011 Act follow the procedures laid down in the general Directions given by the commission under section 14S151 Ibl of the 2011 Act to state whether particular matters have come to my attention Basis of the independent Examinerfs Report My examination was carried out in accordance with the general Directions given by the Charity Comrnission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records, It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair vieW' and the report is limited to those matters set out in the next statement. Independent Examinerfs Statement In connection with my examination, no matter has corne to my attention '. 11 which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Art and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met or 21 to which, in my opinion, attention should be drawn in order to enable 3 proper understanding of the accounts to be reached Signed by '. Date 501101202 Chaweevan Williams FCCA Verdant Accountants Chartered Certified Accountants 20-22 Wenlock Road. London Nl 7GU