Charlty Reglstration No: 1198631 SARUM HILL GOSPEL HALL TRUST ort of the Trustees and Audited Financial Statements th For the Year Ended 5 A ril 2023
SARUM HILLGOSPEL HALL TRUST REPORT OF THETRUSTEES AND AUDITED FINANCIAL STATEMENT5 FOR THE YEAR ENDED 5 APRIL 2023 CONTENTS Pages Reference and administrative detai15 Report of the Tnjstees Auditorfs Report Statement of Financial ActNities Balance Sheet io Stotement of Cash Flows li Notes to the Financial Statements 12-15
Page I SARUM HILL GOSPEL HALL TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 5-APRIL 2023 CHARITY NAME Sarum Hill Gospel Hall Trust REGISTERED CHARITY NUMBER 1198631 TRUSTEES Mr. Graham Gilbert Mr. Murray Lind5ell Mr. Ruben PaTsons Mr. Stephen Parsons Mr. Benjamin Roy Ichairl TREASURER Mr. Ruben Parsons PRINCIPAL ADDRESS CIO Mr. Ruben Parsons 61 Bearwood Road Wokingham Berkshire RG4145X ACCOUNTANT Keith F. Pavey Broadoak Accountlng Services 6The Oaks Wembdon Rise Brid@water Somerset TA6 7QL AUDITOR Pareto Analysls Ltd Statutory Auditor 23 Wadham Street Weston-super-mare Somerset BS23 IJZ
SARUM HILL GOSPEL HALL TRUST REPORT OFTHETRUSTEES FOR THE YEAR ENDED 5 APRIL 2023 Page 2 The Trustees present their Report along with the Financial Statements of the Charity for the Year Ended 5 April 2023. The Financial Statemenls have been prepared in accordance wlth the accountlng policies set out on page 12 and comply with the Trust Deed and applicable law. Structure Governance and Mana ement Governin Document The Charlty 15 controlled by a Deed of Trust. and constitutes an Unincorporated Charity. Sarum Hill Gospel Hall Trust is constltuted by a Deed of Trust dated 14, Aprll 1982, subsequent amendlng Deeds. and most recently by a Deed of Variation dated 15 August 2014. The Trust was registered wlth the Charity Commission for England and Wales on 14, Aprll 2022 under Charity Registratlon Number: 1198631. Recruitment and A ointment of New Truste The Trustee5 who have served during the year and since the year end are set out on page l. None of the Trustees. nor any person connected with them, received any remuneration or expen5e5 from the Charity in the Year, nor in the preceding financial year. The Trust has operated five Gospel Ha115 (previous to 29, November 2022.. two Gospel Halls) and Trustees are chosen from among the regular conggatIon of the halls. New Trustees are nomlnated by the existlng Trustees or by the congregation and must be appointed by unanimous resolutlon of the congregation. They are selected according to their skills and experience and are expected to Use both in furtherlng the objects of the Charity. Checks are made to ensure the Trustees, eligiblllty to act and Incoming Trustees are made aware of their responsibilities by the existing Trustees, who ensure that new Trustees read the Trust Deed and relevant Charlty Commlssion guidance. Wider Nètwork The Trustees malntain Informal Ilnk5 With Trustees of simllar Charities with a view to poollng experience considered useful in pursuing the objects of ihe Charity. The Trust also mallltains particular links with the Reading Gospel Hall Trust, with which it shares members of its congregation, and has parallel objectives in the Reading area. Risk Mana ement The Trv5tees have identified and revSewed the major risks to which the charity is exposed and confirm that they have established systems or procedures to manaBe and mitigate those risks. Ob e¢tive5 and activities Ob'ectives and aims The charitable purpose5 of the Charity are the advancement of the Christian religion for the public benefit. including by the carrying on of the Service of God in accordance with the Old and New Testament5 of the Holy Bible as followed by those Christian5 forming part of the world-widefellowshlp know as the Plymouth Brethren Christian Church Ithe "Brethren") and any other charitable purposes connected wlth Brethren. The core doctrine of the Brethren and proper practi5 in furtherance of certain aspects of doctrine a summarised in two schedules to the Trust Deed. Public benefit The Tru51ees confirm thal they have complied with their duty under section 4 of the Charitie5 Acl 2011 to have due regard io the Charlty Commission's general guidance to charities on publlc beneflt.
SARUM HILL GOSPEL HALL TRUST Page 3 tH REPORT OF THETRUSTEES FOR THE YEAR ENDED 5 APRIL 2023 CONTINUED Main Activities and achievements The Trust provides five GDSJ)Èl Halls luntil 29 November 2022.. two Halls) where religious meetings are held by the local Brethren tommunity. Details of the origins, teachings and way of life of the Brethren can be found on their web51te - www. I mouthbrethrenchristianchurch.o schedules to the Trust Deed. anrl In the One of the Halls has not been in use, pending likety disposal. The Trust's rnain achievements this year have been to maintain the Gospel Halls, for the use of the congregation and visitors and encouraging works by the congregation which benefit the wlder community. On 29, November 2022. 3 Gospel Halls were trans*erred to thi5 Trust from the Reading Gospel Hall Trust, which has parallel objectives. Meetln Meetings normalty held at the Gospel halls Inclvde the Lord's Supper {Communlonl, Gospel preachings, Bible readlngs and Bible addresses. There is a structured weekly schedule of meetings and, depending on the particijlar rneeting, between 35 and 50 people normally attend these occasions, at each Hall in use. The meetings are attended by the regular congregation and most are open to other properly disposed visitors. The notice board outside the Hall welcomes visitors and displays times of Gospel preachings. along with a telephone number for those seeking further information or help. Gospel tracts. which are dlstributed by street preachers. also display thi5 information. With the easing of the previous Coronavirus restrictions, the vse of the Gospel Halls was largely resumed, subject to ongoing care a5 to the necessary safety considerations. readin the Gos el messa e and the life of a Chrlstian The Gospel Hall is a base from which the regular congregation and others who attend the meeting5 are encouraged to spread the Christian Gospel, in word and deed. Member5 of the congregation particlpate in a programme of street preaching and Gospel tracts are provided free of charge by the Charity to such preachers and to be handed out to interested members of the public. Svch preachin8s previous took place weekly, and had been curtalled due to the pandemic, but conditions permitted resumption during the year. In addition. members of the congregation have provided food packs which are made available to homeless and needy person5, through a local charity. Congregation members have also asslsted a separate charity, the Rapid Relief Team which included 5UPPOrt to the Ukrainei providing meals and food boxes to local schoo15. food banks and howneless charities.- givlng support at numerous events in the area,. and Supplying 15 Early Bird Learning kits and R.R.T. Breakfast Bars. A full Public Benefit Report Is attached and activilie5 are jointly with Reading Gospel Hall Trust. In carrylng out this work, the congregation considers itself to be living out Its faith in practice, as particularly exemplified in the following extract from the schedule to the Trust Deed on living a Christian Life.'_ We seek and are encouraged to live exe7nplary lives In all our relationships with others in the wider community (including former Brethrenl. in accordance with the teachings of Ho Scripture11 Tim 2..21
SARUM HILL GOSPEL HALL TRu&r Page 4 TH REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 5 APRIL2023 CONTINUED readin the G05 el messa e and the life of a Christian Continued We regularly go out from our homes to preach on the streets, to distribute Christian literature and engage with the wider Cornmunity lincluding former Brethren) in order to present eternal 5alvatlon, available to all men by faith in Jesus Christ.12 Tim 4.'21. We seek as members of the public to lead Christian lives a5 husband5 and wives, parents, children, employers, employees and neighbours. (Col 3.22-25, Col 4'.11. The preservation and protectlon of the family unlt is fundamental and children are prized a5 a ble55ing from God. (Psalm 127..3-51. The elderly are valued members of the communlty, for whom both their family and the wider community are expetted to care. Holy Scripture commands us to be good neighbour5 to others, and deal with all other people lincludlng former Brethrenl openly. honestly and fair and consistent with these principles, we should give our tlme. talents and money to assist those in need in the wlder community, In so far as reasonable given our abilities and our available resources. Imatt 7.12. Matt 22'.39, Eph 4.281. Volunteers Sarum Hill Gospel Hall Trust relles on volunteers to carry out the management, adminislratlon and, where approprlate, general malntenance work. The Trust has no paid staff or paid Trustees. Fundin Funding 15 SOUEht through gift5 and donations from the congregation. Grants are sometime5 received from other charitable trusts with complementary objertives. Gift aid is also claimed on relevant gifts. Financlal review As slated on Page 3, Three Gospel Halls were transferred in the year to this Trust from Reading Gospel Hall Trust at a value including Fitlings and Equipment of £1.496,659 which sum is treated as a Special Donatlon to ihis Trust. In consequence in 202212023, the Trust had a Surplus amounting to £1,482,609 of Incomlng Resources against Resources Expended (after Depreciation charged of £24,846). Monies held on the BankAccovnt at the year end totalled £7,058. All Funds held were Unrestricted Funds. Reserves ollc The Trustees have considered the level of reserves they wish to retain. appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments. The Trustees have programme of raising further funds by way of donations and tollections, and if necessary loans, In order to fund intended projects, including future pla a5 referd to below. The congregation 15 kept regularly informed of needs accordingly. Free reseNes at the year end were £4,210. Plans for Future Periods The Trust plans to continue all current activitles. and expand public benefit actlvilles as condltlons permlt. It is envisaged that the Hall at 20 Pitts Lane, Woodley. wlll be disposed of in due course, although there may be use meanwhile. Planning permisslons have been obtained which should enhance its realisable value to £500.000 approximately. It is abo intended that a further Gospel Hall currently owned and operated by the Reading Gospel Hall Trust. which has parallel objective5 in the Reading area, will in due course be transferred to this Trust, with finance available from the former. The Trust is committed to acquiring further Property for the provision of Gospel Halls including an acquisltlon of a Property for £860.000 initially, with completion within the next 12 months, and also another Property at a cost of £575,0. These costs. with related building or adaptation costs are intended to be funded by substantial donatlon from Reading Gospel Hall Trust. Despite the increased cost of energy and other overheads. the Trustee5 feel that such increased costs are not Sufficiently impacting on the ability of the ¢haTity to continue as a going concern.
Page 5 SARUM HILL GOSPEL HALL TRUST REPORT OFTHE TRUSTEES FOR THE YEAR ENDED S-APRIL2023 CONTINUED Statement of Trustees, Res The Trustees are responsible for preparing the Trustees, Annual Report and the Financial Statements In ccordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practicel. onsibilities The law applicable to charilies in England and Wales, quiTe$ the trustees to prepare financial 5tatemen15 for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resource5 and application of resources, of the charity for that period. In preparlng these Financial Statements, the trustees are required to select suitable accounting policies and then apply them consi5tently.' obseNe the methods and principles in the Charity SORP- make judgements and estimates that are reasonable and prudent- prepare the Financial Statements on the 80ing concem basis unle55 It is Inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper accountlng records that disclose wlth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financlal statements comply with the Charities Act 2011. the Charities IAccounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charlty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. All transactions have been reviewed and approved by two tnJ5tees. On behaW of the board..
Page 6 INDEPENDENT AUDITOR'S REPORTTOTHE TRUSTEES OF SARUM HILL GOSPEL HALL TRUST FOR THE YEAR ENDED 5 APRIL 2023 Opinlon We have audited the financial statements of Sarum Hlll Gospel Hall Trust forthe year ended 5 April 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statement5, including a summary of significant accountlng policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practicel. In our opinion the financSal statements.. give a true and faSr view of the state of the charity's affairs as at S April 2023 and of its incoming resourcès and application of resources, for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requiremen15 of the Charities Act 2011. Basis for oplnlon We conducted our audit in accordance w((h Intemational Standards on Audltlng IUKI IISAS IUKII and applicable law. Our responsibilities under those standards a further described in the Auditors, responsibilities for the audit of the financial statements 5ectÉon of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financlal statements in the UK, including the FRC'S Eihical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statemenls, we have concluded that the trustees, use of the going concern bast5 of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial 5tatement5 are authorised for issue. Our responsibSlltles and the re5pon5ibilities of the trustees with respect to going conr are described n the relevant sections of thi5 report. Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial Statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection with our 3udit of the financial statements, our responsibility is to read the other Information and, in doing 50, consider whether the other information is materially Inton515tent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mlsstatements, we are required to determine whether thi5 gives rise to a material misstatement in the financial Statements themselves. If, based on the work we have performed, we Conclude that there 15 a material misstatement of this other information, we are required to report that fact. We have nothing to report in thi5 regard.
Page 7 INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF SARUM HILL GOSPEL HALL TRUST TH FOR THE YEAR ENDED 5 APRIL2023 Matters on which we are required to report by exception We have nothing to report In respect ofthe followin8 matters where the Charlties IAccounls and Report51 Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Report of the Trustees is inconsistent in any material respert with the financial statements; or sufficient accountlng records have not been kept.. or the financial statements are not in agreement with the accounting records and ret¥Jrns,' or we have not received all the information and explanations we require for our audit. Other matters The financial statements for the year ended 5 April 2022 were not sub]ect to audit. Responsibilitie5 of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responslble for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is nece55ary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity'5 ability to continue as a going concern. disc105in& as applicable, matters related to going concern and uslng the going concern basis of accounting unless the tru5tee5 eÉther intend to liouidate the charity or to cease operatlon5, or have no realistic alternative but to do so. Our responsibilitie5 for the audit of the frnancial statements We have been appointed as auditors undersection 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objective5 are to obtain reasonable assurance about whetherthe financlal statements as 3 whole are free from material misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurnnce is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatement5 can arise from fraud or error and are considered material If, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedure5 are Capable of detecting irregularitles, Including fraud 15 detailed below: We assessed the susceptibility of the charItS financial statements to material mi55tatement and how fraud might octur, including through discussions with the trustees, discussions within our audlt team plannine meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible inceutives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that ale of 51Enificance in the context of the charity by discu55ions with trustees arhd updatinB our under5tandin8 of the sector in which the charitv operates. Laws and regulations of direct signiflcance in the context of the charity include the Charities Act 2011, the Charitles IAccounts and Reports) Regulation5 2(X)8 and guidance issued by the Charity Commisslon for England and Wales.
INDEPENDENT AUDITOR'S REPORTTOTHETRUSTEES OF SARUM HILLG05PEL HALL TRUST FOR THE YEAR ENDED 5-APRIL 2023 Page 8 Our approach was as follows: We considered the extent of Complian wrth these laws and regulations as part of our audlt procedures on the related financial statement Item5 including a review of financial statement dlsclosures. We revrewed the charitvs records of breaches of law5 and regulations, minutes of meeting5 and correspondence with relevant authoritie5 to identify polential material misstatements arising. We discussed the charily's policies and procedures for compliance with laws and regulation5 with members of management responsible for compliance. We enqvired of management whether they were aware of any instances of non-complian with laws and regulations or knowledge of any actual. suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriatene55 of journal entries 2nd identifying any Significant transactions that were unusual or outside the normal course of busSness. We assessed whether judgements made in making accounting estimates gave rise to a possible Indication of management bias. At the completion stage of the audit, the engagement partnerfs review included ensuring that the team had approached their work with appropriate professional scepticism and thu5 the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed nDn- compliance with laws and regulatioris is from the events and transactions reflected in the fir>ancial statement5, the less likely we would become aware of it. A150, the risk of not detectinE a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example. forgery or intentional misrepresentatlon5 or through collusion. A further description of our responsibilities for the avdil ol the financial statements is located on the Financial Reporting Council's website al véww.frc.org.uklaudiloisresponsibililies. This description forms part of our Report of the Independenl Auditors. Use of our report This report is made solely lo the charily's Iruslees, as a body. in accordance with Part 4 of the Charities IAccounls and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the charily'g Iruslees those mallers we are required lo slate to them in an auditors. report and for no ol yon urpose. To the fullest exlenl permitted by law. we do not accept or assume responsibility to orth other than the charity and the charity's trustees as a dy, for our audit work. for this report, or opinions we have Pa liam John Senior latulory Auditor Pareto Analysis Ltd Slalulory Auditor Parkview 23 Wadham Street Weslon-super-mare Somgrsel BS23 1JZ
Page 9 SARUM HILL GOSPEL HALL TRUST STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 5 APRSL2023 Notes 05.04.23 05.04.22 Unrestricted Unrestricted funds lunds Income from Donated Services from Readlng Gospel Hall Trust Special Grant to acquire Propertie5 Other Services 1,496,659 32,564 5,674 Total Ineome 1,529,223 5,674 Charltable Expenditure on Meeting Hall Runrting Costs Repairs and Maintenance- General Grounds Maintenance Light, Heat and Power Water and Sewerage Insurance Bank Charges ProfessSonal Costs Sundry Depreciation- Freehold Property Depreciation- Furniture and Equipment Governance Costs Accountancy Audit 9,063 2,381 1,563 201 1,088 84 4,073 40 22,833 2,013 1,310 1,752 23 162 642 84 30 1.595 1,680 690 Total expenditure 46.614 4,693 Net Income 1,482,609 981 Net Movement in Funds Reconciliation of Funds Total Funds Brought Forward 1,482,609 981 652,397 651,416 Total Funds Carried Forward 2,135.006 652,397 All Income and expenditure derive from continuing activities The Notes on pages 12 to 15 form part of these Financial Statements.
SARUM HILL GOSPEL HALL TRUST BALANCE SHEFfAS AT 5 APRIL2023 Page 10 Asat Asat 05.04.2023 05.04.20Z2 Notes Tangible Fixed Assets Freehold Land and Buildings Fitting5, Furniture and Equipment 2,102,167 28,629 650,000 91 Total Fixed Asset5 2,130,796 650,091 Current Assets Prepayments Bank Account 1.129 7,058 493 2,943 8,187 3,436 Les5,' Current Liabilitles- Due Within l Year Creditor5 Accruals 12861 13,6911 11,1301 13,9771 11,1301 Net Current Asset5 4.210 2,306 Net Assets 2,135.006 652,397 Represented by- Fund5- Unrestricted Fund5 General Reserves Opening Balance 477,397 476,416 Net Surplus for the Year 1.482,609 981 Closin8 Balance 1,960,006 477,397 Revaluation Reserve 175,000 175,000 Total Funds 2,135,006 652,397 The audited Flnancial Statement5 were approved and authorised for issue by the Trustees of Sarum Hlll Gospel H311 Trust on the undermentioned date, and were signed on their behalf by: Trustee Date The Note5 on pages 12 to 15 form part of these Financial Statements.
Page 11 SARUM HILL GOSPEL HALL TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDEO 5 APRIL 2023 TH Year Ended Year Ended 05.04.2023 05.04.2022 Notes Cash Flows from Operating Activities Net Incoming Resources for the Year 1,482,609 981 AdjUStent for.- Depreciation 24.846 30 Changes in:_ Prepayment5 Creditor5 and Accruals 16361 2,847 Iiiii 19831 Net Cash Inflows Ioutflowl from Operating Activities 1,509,666 1831 Cash Flows from Irbvesting Activities Purchase of Tanglble Fixed Assets 11,505,551) Net Increase In Cash and Cash Equivalents 4,115 1831 Cash and Cash Equivalents at Beglnnihg of Year 2,943 3,026 Cash and Cash Equivalents at End of Year 7.058 2,943 The Notes on pa8es 12 to 15 form part of these Financlal Statements.
Page 12 THE SARUM HILLG05PEL HALL TRUST NOTE5 TOTHE FINANCIALSTATEMENTS FOR THEYEAR ENDED 5-APRIL 2023 ACCOUNTING POLICIES 1.1 Basis of preparation of Financi31 Statements The financial statements have been prepared in accordante with Accountlng and Reporting by Charltles: Second edition of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued Sn October 2019, the Financial Reportin8 Standard applicable In the United Kingdom and Republlc of Ireland (FR5 1021, and UK Generally Accepted Accounting Practice. 1.2 Incomtng Resources Donations are recognised In the Year in which there is entitlement and probabillty of receipt and the amount can be measured with reasonable certainty. Income is only deferred when Ihe Charity has tofulfil conditions before becomin8 entitled to it or where the donor has specified that the income is to be expended In a future year. Gift-aid is added to the value of the donations to which it relates. Donated 5eFvices are recognised as income and expenditure in the financial statement5 when organisations or individuals offer thelr services and support pro bono. The value of these donated services to Sarum Hill Gospel Hall Trust is considered to be equal to market value which would be paid were the Services formally procured. Investment Income 15 accounted for on a CeIVable basis. 1.3 Resources Expended Expenditure is included on an accruals basis. Liabilities are recognised as soon as therè is a legal or constructive obligation committing the charity to pay out resources. Charitable acttvities comprise those costs directly atlributable to the fulfilment of the charitable objects. 1.4 Governance and Support tosts These costs comprise all costs involvin8 the public accountability of the Charity and costs related to statutory requirernents. 1.5 Tangible Fixed Assets and Depreciation Freehold Property Freehold Properties owned prior to this year were statèd at Valuation5 as at 5 April 2020, determined by the Trustees. From this year all Freehold PropertÈes are depreciated at 3% per annum on the stralEht line basis, calculated monthly Whe Propertie5 were acquired during the year, and on values excludlng Land. Furniture, Fittings and Equipment These are stated in the Balance Sheet at Cost less depCiation. Depreciation 15 Charged at 25% per annum on the reducing balance basi5, fdlculated monthly where assets were acquired durlng the year. 1.6 Taxation The Trust Is a registered charity and is not liable to United Kingdom taxation on charitable activities, provided Income falls within the charitable exemptions and is spent on charitable purposes. 1.7 Funds All Funds are General Unrestricted Funds and are free for the Trustees to Use for any purpose In furtherance of the Trust's charitable objects. 1.8 Going Concern The Trustees consider that there are no material uncertainties about the charity's ability to continue as going concern. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causin8 a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
Page 13 SARUM HILLG05PEL HALL TRUST NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 TH CONTINUED TANGIBLE FIXED ASSETS (Per note 1.51 lal These Comprise:_ Freehold Fittings. Land and Furniture & Buildings Equipment Total COST OR VALUATION As at 06.04.2022 Additions in Year 650.000 1,475,000 4,959 30,551 654,959 1,505,551 As at 05.04.2023 2,125,000 35.510 2,160,510 DEPRECIATION As at 06.04.2022 Charge for Year 4,868 2,013 4,868 24,846 22.833 As at 05.04.2023 22,833 6,881 29,714 NET BOOK VALUE As at 05.04.2023 2.102,167 28,629 2,130,796 As at 05.04.2022 650,000 91 650,091 FREEHOLD LAND AND BUILDING5 COMPRISE Ibl Land Registry IL.R.l Title Nos. are as below Valuation Additions to In Year Depreciation 06.04.2022 At Cost In Year Net Book Value 05.04.2023 Net Book Value Meeting H3115 at: 9 Hollow Lane, Shinfield, Reading L.R. Title No.. BK390526 250,0(10 15,0001 245,000 20 Pills Lane, Woodleyi Reading L.R. Title No.. BK397046 400,000 18,0001 392,000 97 Oxford Road, Wokingham L.R. Title No.. BK56270 500,000 13,3331 496,667 Yew Tree, Spencers Wood. Reading L.R. Title No.. BK473069 475,0 13.1671 471,833 Victoria Road, Mortimer L.R. Title No.. BK43967 500,000 13.3331 496,667 650.000 1.475,000 122,8331 2,102,167
Page 14 SARUM HILL GOSPEL HALL TRUST NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED S" APRIL 2023 CONTINUED Icl The orlBlnal costs of the following Halls were: 9 Hollow Lane, Shinfield, Reading 20 Pitts Lane, Woodley. Reading 378,409 334,751 Idl Halls acquired in year These were transferred on 29, November 2022 from Reading Gospel Hall Trust. TRUSTEES, REMUNERATION AND EXPENSES No Trustee received any remuneration for seThices rendered in thls year or in the predIng year. Expenses Incurred were reimbursed, if applicable. at cost, with no benefit whatsoever arising to the recipient. EMPLOYEES AND VOLUNTEERS The Trust had No Employees in this Year or the preceding Year. The Trust relies on Volunteers to carry out Management. Administration and certain Maintenance work. AUDITOR'S FEES Year to 05.04.2023 Year to 05.04.2022 Fees payable for the audit of the Financial Statements 1,680 DONATED SERVICES RECEIVED Slgnificant expenditure in respective years wa5 funded by Donations from Reading Gospel Hall Trust as follow5:. 05.04.2023 05.04.2022 Special Grant to acquire Properties For Meeting Hall Runnings Costs 1.496,659 32,564 5.674 1,529,223 5.674 RESOURCES EXPENDED These were:_ 05.04.2023 05.04.2022 Direct Costs Meeting Hall Running C05t5 per page 8 Governance Costs 43.339 4,1X>3 3,275 690 46.614 4,693
Page 15 SARUM HILLGOSPEL HALL TRUST NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 TH CONTINUED MOVEMENT IN FUNDS 05.04.2023 05.04.2022 Unrestricted Funds Opening Balance Incoming Resources Resource5 ExpeThded 652,397 1.529.223 146.6141 651,416 5,674 14,6931 Closing Balance 2,135,006 652.397 All Funds are available for the general purposes of the Trust, and there are no funds restricted to specific purpose5. POST BALANCE SHEET EVENTS ANO CAPITAL COMMITMENTS It is envisaged that in an ensuing period a further Local Hall, currently owned and operated by Reading Gospel Hall Trust, will be transferred to this Trust. This Trust 15 a150 committed to acquiring further Property for the provision of Gospel Halls including an acquisition of a Property for £860,000, with completion within the next 12 months, and also another Property at a cost of £575,000. These cost5, with related buildin@ or adaptation costs are intended to be funded by substantial donation from Reading Gospel Hall Trust. It is er)visaged that the Hall at 20 Pitts Lane, Woodley, will be disposed of in due course, althouEh there is expected to be some use meanwhile. 10. RELATED PARTY TRANSACTIONS There were no related party transactions identified in thls year or the preceding year.