Charity Reglstration No: 1198631 SARUM HILL GOSPEL HALL TRUST Re ort of the Trustees and Audited Flnanclal Statements Ih For the Year Ended S A rll 2024
SARUM HILL GOSPEL HALI TRUST REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STAfEMENYS FOR THE YEAR ENDED 5 APRIL 2024 CONTENTS Pages Reference and adrnini5trJtr¥e details Report of the Trustees Audltorfs Report Staternent of Financial Actwities Balance Sheei io Statement of Cash Flows li Notes to the Flnanclal SIHtement5 12-17
Page I SARUM HIILG05PEL HAU TRUSr REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 5TH APRIL 2024 CHARITY NAME Sarum Hill Gospel Hall Trust REGISTERED CHARITY NUMBER 1198631 TRUSTEES Mr. Graham Gilbert Mr. Murray Lindsell Mr. Ruben Par50ns Mr. Stephen Parsons Mr. Benjamin Roy (Chairl TREASURER Mr. Ruben Parsons PRINCIPAL ADDRESS CIO Mr. Ruben Parsons. The PhÈasantries Church Lane Aborfield Reading RG2 9JA Keiih F. Pavey* Broadoak Accountln8 Servlces. 6 The Oaks, Wembdon Rise. Bridgwater, Somerset. TA6 7QL. AUDITOR Lyndsay Nicholson ACA CTA Statutory Auditor, Riverslde kcountancv, Second Fh)or. 26 St. Geor8es Quay, Lancasier, Lancoshire, LAI IRD.
Pa8e 2 SARUM HILL GOSPEL HALI TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5- APRIL 2024 The TTUStees present their Report along with the Financial Statements of the Charily for the Year Ended S, April 2024. The Financial Statements have been prepared in accordance with the accoulltin6 policies set out on page 12 and compty with the Trust Deed and applicable law. Structure Governant and Mana ement Governl Documtnt The Charity is controlled by a Deed of Trusl. and constitutès an Unincorporated Charity. SaTum Hlll Gospel Hall Trust is constituted by a Deed of Trust dated 14, April 1982. subsequent amending Deeds, and most recently by a Deed of Variatron dated 15, August 2014. The Trust was reglsieied with the Charity Commission lor EnBland and Wales on 141h April 2022 vnder Charity Reglstration Numter.. 1198631. Recrultment and A Intm New Trustees The Trustees who have served during the year and slFKe the year end ère set out on page l. None of the Tru5tee5, nor any person Lonnected wlth them, recefved any remuneration or expenses from the Charlty In the Year, nor In ihe pTecedinB linancial year. The Trust has operatedlmaintained Ilve Gospel Ha115durlng theyear, and has acquirèd two Propertles to adapi for further Gospel Halls. Trustèes are chosen from among the regular congregation of the halls. New Trustees are nominated by the exSsting Yrustees or by the congregation and must be appolnted by unanimous resolution of the congregatton. They are selecied accordlng io thelr ski115 and experience and afe expected to use both In furtherln8 the objeus of the Charlly. Checks are made io ensure the Tru5tÈes' eliEibility to act and Incoming Trusiee5 are made aware of theSr responsibilities by the Èxi5tin8 Tru5tee5, who ensure that new Tru5tee5 read the Trusl Deed and relevant Charlty Comm155ion guidance. Wlder Network The Trustees maSntain informal Ilnks wlth TteeS of slmllar Charities with a vlew to poolin8 experlence consldered useful In pufsyinB the objects of the Charity. The Trust also maintain5 particular Ilnks with the Readin8 Gospel Hall Trust. wlth which it shares member5 of its congre8al+oii, and has parallel objectives in the Reading area. Rlsk Mana The Trustees have Identifd and revlewed the malorrisks to which the charity isexposèd and confirm that they have established 5VStems or procedures io mana8e and mit*ate those rfsks. ement Ob ectlves and actlvltits Ob ectlves and alms The charitable purpose5 of the Charity a the advancement of the Christian Wel10n for the publlc benefit, including by the carrylng on of the Service of God in accordance with the Old and New Testarnentsof the Holy Bible as followed bythose Christiansfoming part of the wortd-wide fellowship know as the Plymouth Brethren Christian Church Ithe-Brethren"l and any olher charitable purposes connected with Brethren. The core doclrine ol ihe Brethren and propef practlces in furtherance of ceftaln aspects of doctrine are summariseil in two schedu$ to the Trust Deed. Public benefit The Trustees confimi that they have complied with Iheir duty undef Section 4 of the Charities Act 2011 to have due regard to the Charity Qjmmission's general Eurdance to charities on public benefit.
Page 3 SARUM HILL GOSPEL HAIL TRUST REPORT OF TFIE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 CONTINUEO Main Attivities and achievement5 The Trust has provided five Gospel Hallsduringthe yearwhere religious meetings are held by the local 8reihren community. Details of the origin5, teachings and way of lifÈ of the Brethren can be found on theiw web5ile- www. I moulhbreihrenchri5tiaftchurch.or£ and in the schedules to the Trust Deed. Two further Properties have been acquired in the year at a u)stof £1.452.528 foradaptation asfurther Gospel Hall5. The Trust's main achlèvements this year havè been rèlated to such Gospel Halls, for the use of the congregatlon and visitors and encouragin8 work5 by the con8re8ation which benefit the wider community. Meetln Meetlngs normalty held at the Gospel halls incIle the Lord's Supper Icommunionl, Gospel preachings. Bible rea(Jings and Bible addresses. Therè is a structured weekly schedule of meetlng5 and, depend1% on the partlcular meetin& between 35 and 50 people normally attend these occasion5, at each Hall in use. The meetlngs are atlended bythe regularcon8reBation and most are open to other properly dlsp05ed vlsltors. The notlce board ouislde the Hall welcomes vlsilor5 and displays time5 01 Gospel preachlngs, alorbg With a telephone number for those seekin8 further Inforniatn or help. Gospel tracts, which are dlstributed by street PTeacher5, also display this information. readl the Gos I mess e and the Iwe of a Chrl The Gospel Ha115 are a base from which the regular ton8re8alion and others who attend the meetin85 are encouraged to Spad the Chrlstlan Gospel, In word and deed. Member5 of the congregatlon parllclpate in a pro8Tamme of street preachiThd 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. Such preachi5 have taken place weekly wlth 5evefal preachlngs durin8 the week. During the year, charitable donations were rnade to Yhe Cowshe¢f and to "Share. both reglstered charltles actlve In welfare support In the Readin8 area. In addiilon, members of the congregation have provided food packs which a made available to homeles5 and needy persons, through a local charity. Con8regallon members have also assisted a separate charity, the Rapld Relief Team whlch Included 5upporl lo the Ukraine,. providing meals and food boxes to local orBanisation5; anil ongoln8 SUPPOrt at numerous events in the area. A full Publ1¢ Beneflt Report 15 attached and activities a jointly with ReadinB Gospel Hall Trust. In carrylng out Ihis woll ihe congregation considers itself to be living out its faith in pracilce, as particularly exemplified in the followin8 extract from the schedule to the Twst Deed on Ilving Christian Life:_ We seek and are encouraged to exemplary lives trn all our relation5hip5 With others In the wider community lintludine fomer Brethrenl, in accordance with the teaching5 of Holy kripture (i Tim 2-21 We re8uIartygoo from our homes to preach on the Streets. todlstribute Christian literature and en8age with the widercommunity (including former BTethrenl in orderto present eternal salvation, available to all men by faith in Jesus Christ.12 rim 4..21.
Page 4 SARUM HILL GOSPEL HALL TRUST TH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED readln the Gos el messa e and the Ilfe ot a thristian Continued We seek as members of the public to lead Christian INes as husbands and wNes, parents, children, employers, employees and neighbours. (Col 3=22-25, Col 4..11. The preservatlon and piotectlon of the family unlt Is fundamental and children are prlzed a5 a blessing from God. (Psalm 127..3-51. Thè ÈIdeY are valued members of the commLtnity. for whom both their famity and the wider comrnunity are expected to care. Hoty Scripture commands us to be %ood neighbours to other5. and deal with all other people Ilncluding former BYethTenl openly. honestly and tsirly and consislenl with these prlrTrciples, wè should Bive our time. talents and money to assist those in need in the wider community, In $0 far as reasonable gen our abllities and our avaikible resources. (Matt 7.12, Matt 22.39, Eph 4..281. Vol nteèrs Sarurn Hill Gospel Hall Trust relies on volunteers to carry out the management. adminSstration and, where appropriate, 8eneral maintenance WOTk. The Trust has no pald staff or pald Trustees. Fundin Funding is Sought through Klfts and donations from the congregatlon. Grants are sometimes recelved from other cliaritable tru51s with Complementary oblectlves. Glft aid Isalso clalmed on relevant Èlfts. Flnanclal r¢vlèw As stated on Pa8e 3, two further Properiies have been acquired the year ai a Lost of £1,452,528 for adaption as f¢Jrther Gospel Halls. In conseovence In 202312024, the Trust had a surplus amounting to £1,423,312 of Incomin8 Re50urce5 aBainst Resources Expended lafter Depretiatlon chargèd of £36,657). Funding has been very substantially from Reading Gospel Hall Trust. Monle5 held on the BoThk Account at the year ended totalled Ell,679. All Funds held were Unresirlttèd Funds. Reserve5 oll The Trustees have consideied the level of reserves they wlsh io retaln. approprlate to the charity's needs. Thi5 is based on ihe tharity's siie and the levèl ol financial commitments. The Tiustees have pro8ramme of ralsin8 further funds by woy of donalions and collertions, and If necessary loans, In Qrder to fund Sntended projects, includin8 future plans as referred to below. Tl* ¢on8Te¥ation15 kept regularly informed of needs accofdlngly. Free reserves at the year end werè £11,651. Plans for Future Periods The Trust plans to contlnue all current actfvltlÈs, and expand public benefit actwities as conditions permit. Sincè the year end, a Sale has been Khieved of the Hall at 20 pl Lane, Woodley. for a prlce of £702,0. It is intended that a further Gospel Hall currently owned and operated by the Reading Gospel Hall Trust, which ha5 parallel objectives in the Reading area. will in due course be transferred to this Trust, with linance available from the former. The Trust Is committed to acquirlnB fvrther properties for ihe provislon of Gospel Halls SCIfIcalfy In the Finchampstead and Burghlield area5. The adaption of the two 51tes a¢qurred in thi5 yeaT will be proceeded with and costings have yet lo be established. Despite the increased cost of energy and other overheads, the Trustees feel that such increased costs are not sufficiently impacting on ihe abilrty of the charity to continue as a going concern.
Page S SARUM HILL GOSPEL HALL TRUST TH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED) Statement olTrusteES' Res The Trustees are responsible lor preparing the Trustees, Annual AepoTt and the Financial Statemenls In accordance with applicable law and United Kin8dom Accounling Standards (United Kingdom Generally Accepted Accounting Practi1. The law applicable to charitlès in England and Wale5. requires the trustees to prepare flnanclal statements for each financial year which give a true and fair view of the state of affairs of the Charitv and of the incnmin8 resources and appllcatlon of re50uries. of the charity loi that peiiod. In preparSng these Financial Statements. the trustee5 are required to select sultable accountlng pollcles and then appty thern consistently. observe the methods and prlnclples In the Charily SORP- make judgernents and estimates that are reasonable aWHI prudent,. prepare the Financial Statement5 on the goin8 concern basi5 unless it is inapproprlate to presume that the Charity will contlnue In busine55. The Trustees are responsible foT keeplng proper accovntln8 records that dlsclose wlth reasonable accuracy at any lime the financial p05iilon of the charity and enable them to ensure that the fifftanclal staternenti tomply wlth ihe Charltles Aci 2011. the Charilies IAccount5 and Repor151 ReBulatiorss 2008 and the provisions ol the Tiust Deed. They are also responsible for 5afÈguardlng the assets of the charity and hence for takin8 reasonable steps for the prevention and detection of fraud and othèr Irre8ularitle5. All transactlon5 have been revlewed and approved by two trustees. On behalf ol the board.. Trustee Date.. Zbliili*
Page 6 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SARUM HILL GOSPEL HALL TRUS FOR THEYEAR ENDED 5-APRIL2024 inion We have audited the financlal Statements of Sarum Hill Gospel Hall Trust for the year ended 5, April 2024 which comprise the Statement of Financial Aciivitie5, the Balance Sheet and the related notes, including a summary of signifir.ant accountin8 poIiciÈ5. The financial rew)rting framework that ha5 been applied in their preparation is appllcable law and United Kingdom Accounting Slandards. Including Financi?$ ReportinÈ Standard 102.. The Financial Reporting Standard applicable In the UK and Republic of Ireland Iunlted KFn8dom Generally Accepted Accovntlng Prattrcel. In our opinion, the linanclal 5tatements'. gfve è true and falr vW of the staiÈ of the thailtvs affro1 as at 5 April 2024 and of its Incomi - source5 and application of resuuro5, I11n8 Its Iv>mme and eXndItUTe. for the yèarthen ended,, have beenprOty prepared InaCcordaew1th Unhed KioMGralACCePtedA(coUnt1tVa P- te,. arKI haNE been prepaied In acadan wlththe requtrementsofthe chantSAct 2011. 8asls for o We conducted our audit in accordance with Internalional Standards on Audltlng IUKI IISAS IUKII and applitable law. Our iesponslbllltles under those Siandards are further descrlbed In the Auditorf5 responslbllltles for the audit of the Ilnancial stalements section of Ouf report. We are independent of the Chaflty In accordance wSth the ethical requirements that ère relevant to our avdlt of the flnanclal statements In the UK, includinR the FRC's Ethical Standard and we have fullilled our other ethical re5ponslbllltles In actordance with these requirements. We believe that the audit cvldence we have obtained Is sufflclent and appropriate to provlde a basis for our opinlon. Contluslon5 relatln orKe In auditlng the flnènr.ial statements. we have concluded that the trustee5' use of the going con¢em basls of oc¢ountin8 in the prep3Tation of the financial stalements is appropriate. Based on the work we have performed. we have not identified any materlal uncertaintles relating to events or conditlons that. individually or collectively. may casi si8nificant doubt on the charity's abllity to contSnyè as a 8oin8 concern for a period of at least twelve months Irorn when the financial statements are authorlsed for i55ue. Our re5pon5ibilities and the Te5ponsibilitie5 of the trustees with respect to Eolng concern are described in the ielevant sections of this report. Other Informatlon TheotherinformètK)ncomprise5the InformatK)nincljedlnIhetrusteeS'aThnuaI report,otherthanthefinancial ststempnts ancl our auditorfs rert themn. The tru5tee5 are respon5iblE for the other inlormatSon. OUT opinion on the finarKial statenIS (loes not t¢)veT other infomiatKJn ar we do not expre$5 any form of assurance COl510n thereon. Ovr responsibility is to read ihe other InfomwD and. dts1 so. considerwhether the other infom)ation 15 materialty inconsistent with the finarrial statements or our knOwdge obtained u) the course of the atK4it or otherwisp. apar5 to ke materialty misstated. If we identify such material I)nSIStenc$orapParent material mi55tatements, we are required to detemiine whethEr thi5 8T$ rise to a material mi5Statement Fn the financial statements themse$. ff, based on theworkwe have rformed, ndUde that1re isa material misstatement ol this other information, we are required to report that fact. We have nothi10 rew)rt in th regard.
Pa8e 7 INDEPENDENT AUDITOfS REPORTTO THE TRUSTEES OF SARUM HILL GOSPEL HALI TRUST FOR THE YEAR ENDED 5" APRIL 2024 CONTINUED Matters on whlch we are re uired to re ort exce lon We have nothing io rert in respect of the folknwing matters in relatK)n to which the CharitiES Ikcounts and ReN)rtsl Regulations 2CQ8 Tequire usto teTyintoyou rf. in our OFMrnKJn: the information gNen in tyustee5' Port is irtonsistent In ary maieiial re5peci with the financsal statements,. or SUffbEAt accounting record5 ha¥e Mt Ixen kept- or the finandal statements are nol in agment with the accountir%recDrd4' or we ha noi recewed allthe infomatK)Tr and expL3nJtw)nstht require for our audlt. Re5 onsibilitle5 of the trustees As eKplalned mole fully in the trustee5' responsibilities statement set out on page S, the trustees a re5ponslble for ihe preparation of the financlal 51atemen15 and for being satisfied that they glve a true and fair view. and for such internal control as they determine is nece55ary to enable ihe preparatlon of linancial statements that are free from material misstatement. whether due to fraud or error. In prÈparln8 the financial statements, the trusiees are responsible for as5es51n8 the Charlt¢s abi15ty to Continue as a going concern, disclosin8, as applicable. mailers relatÈd to goin8 concern and using the golng concern basis of accounting unless the tru5tÈes either intènd to liquidate the Charlty or to cease operations, or have no realistic alieinative but to do 50. Audlttsrresponlbllltlesforthe audit of the fib)wclal statenwrits We have been appointed as auditor under sertKsn 144of the Charitskt 2011 and report In aCcOrdae wSth the Act and relevant Tegulations made or1r% effect thereunder. OUT obleaive5 are to obtain reasonab assurance alKJut whether the financral staiÈments as a whole arp_ free from materlal m1s51atemenl. whether due to fra1 or error, and to issue an auditorfs report that Indude5 our oplnlon. Reasonab a5sufdnce is a hi8h tI of a55vratKe, but Is rv)t a 8uarantee that an audit conducted in accnrdance wSth ISAslLIKI will always deled a material mi55tatement when it e$t5. Misstatements can arlse from fraud OT erTor aThJ a considered material if, indmdualty or In the we8ate, they could reasonabty be expected to inflnce the economk dec)1 ofu5ers takenon the basi50fthe5e finaKlal statements. ITre8ularits, includin8fraud, are InstareSof non-cornp1iaewllh lawsand regulatn5.We de*n PT(Kedures in line with our respon5ibilitie% out11 abm, deteLI rnaterwl misststements in re5pert of ifregularitles, Including fraud. The extent to which our procedures are Capab ol deteclin8 irwu1arlt, Includln8 fraud Is detailed beh)w'. Review of trustees mlnute5 and review of nominal poslin8s for legal and PTofe5sional fee5 en- 5ured we Identifled any regulatory compliance Issue5 and law5 the charity must follow In the year and to the date ol slgning thÈ financial statements. The assessment of fraud was consider as k)w due to the se8regatSon of duties seen. A revSew of journal entries and consideration of their appropriateness was carried out throu8h the audlt. Durin8 the audit we speak io irustees. lest the systems and speak to variou5 members of the finance function to Understand the entity its processes and the nature of trade to a5SiSt iwb fleler- mlnlng If the financial 51atement5 are true and fair. ChallenBin8 assumptions made by mana8ement in makin8thelr5ignificant accounting estlmate5. Reviewin8 financial statement dlsd05ure and testing Io 5UPPOrtin8 documentalion to a5se55 compliance with applicable laws and regulation5. Legacies and DonatTrons are Teviewed to ensure no restriction on fund5 are required to be allo- cated differently from the common funds.
Page 8 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SARUM HILL GOSPEL HALL TRUST FOR THE YEAR ENDED 5- APRIL 2024 CONTINUED Because of the inherent limitatitins of an audit. there is a risk that wll detect all irregularitie4 irKluding tIK)5e leading to a material mtaternet in the finartial ateMentS or notrcompliarKe wth regulation. Th rLsk increases the mre that compliae with a Law Of regulation removed from the events and iransactions refle.cted in the financial ststements, as we will be less Itkety to become aware of inStae$ of rK)n-compliance. Thp. rk is also Erealer regaidSn8 irregularities IKcurrin8 to fraud wattr than errN, 05 fraud involves Intentn31 concealment,forgery, collusn. omission or mi5representatK>n. As part ofan audit in aCcOrdae wfLh 15A5 IUKI, exer(tr prOfessnallgment and maintain professhjnal stepticism throuBhout audit. We also.. Identify and assessihe ri5ksofmaterial mi55tatementofthefinancialstatements. whetherdue to fraud reTroT, design and perform audit pro(dureS responswe to those risks. a1 obtain audit eviden that IS sufficient and appropriate lo provide a tklsis forotsropinion. The risk olmt dètettlng a materrdl mi5- statement iesulting Irom fraud i% hi8her than forone resdting from error, as fraud may Involve collu- sion, forgery, intentional omsssions, miSpreSentat)n5. or t1 overrlde of Internal control. Obtain an under5tandire of internal contfol revanI to the audit in ordei to dÈsEn audit procedures that are appropriate in the clrcumstaKes. bul not for the puipose of exprgssing an opInn on the ef- fectiveness of the chariws intemal coritrol. Evaluate the appropriateS$ of accounting used and the [easonabneSS of ac£ountir8 e5ts- mates and related disdosure5 made bythe trustees. Conclude on the approprK4te5 of the trLtlle usè of the Eoirrf toffem basis of accourtlnB and, based on the audit evidence obiakned. whetr a material uertaInty exists related to events orcon- ditionstliat maycast snlficant doubt on the charitV5 ability to continve as a 8oEcon¢Èrn. If we con- clude that a rnatertal unceflalntyexist%weare required to draw attentK)n inourauditorfs report to the relaied dlsck)svreslnthe finarKialststemenlsor, rtshdIsdo5sare inadequate, to modifyouropin- kjn. Our conclu51ons are based on the audii ÈVKlerKe obtained up to the date of our auditols report. However, future events or conditM)ns maycau5e the charityto ase to continue as a 80ing concern. Evaluètè thp. overall presentalion, stnjtture and content of the financial statements. IncludinR the dl closureg, and whether the finarKial statements represent Undern8 transaclK)ns and events In a manneTthat achlews faw presentation Ile. 8P*t5 a trve and fatWI. We communKate v1htho$e Charged1h8rnaIKe re$ardi amore0rmatters, Ihe planned scope and tlmingolthe aLtdit and si8nificant audlt findlr84 Indudireany seniftant defidertles in intemal control thatwe Identfy durin8our audit. Use ofour report Thls report 15 made soletyto tcharItIS trustees. asa IM)dy, inaccordance with Part4of thecharit5 (Accounts and Reports) Re8ulatv)ns 2(Th. Our audit work has been urylertaken so that we mvdht state to the charrfs tiustees those rnatterswe are required to State io them in an auditorfs report and fof no other purpose. To the ful51 extent permilted by law. wedo not acceptor assUTh responsibilitytoanyone otherthan Ihe tharityand the chariirfs trustee5 as a body. foTour audlt work. forthis reiM)rt, or lorthe opinKTrns we have formed. Lyndsay Ntholson ACA Foi an on behaKol Rivers1AccoUnt0ncyLQnC0steT lunrted chorteredmUntonts & SrrtuttryAudittV SecondFloorRiverside OffKe5 265tGeorges Quoy loncoster LAI IRD Date.. 2blii li¥...........................................
Page 9 SARUM HILL GOSPEL HALL TRUST STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 5 APRIL 2024 Year to Year to 05.04.2024 05.04.2023 ALL ITEMS RELATE TO UNRESTRICTED FUNDS Notès INCOME FROM Donaled Services froffl Reading Gospel Hall Trust Special Grant to acquire Properties - Othei serv15 1,442,568 50,149 1,496,659 32,564 Total In mln Resources 1,492,717 1,529,223 EXPENDITURE ON MEETING HALL RUNNING COSTS RepaSrs and Maintenance- General Grounds Maintenance Light, Heat and Power Rate5 and Water Insurance Bank Charges Professlonal Costs Sundry Deprecl3tion- Freehold Property Depreciation- Furniture and Equipment GOVERNANCE COSTS Accountancv Audit CHARITABLE DONATIONS 4,681 2.207 4,807 2,202 3,374 9,063 2.381 I,S63 201 1,088 84 4,073 40 22,833 2,013 29,5LK) 7,157 2,580 3,504 3CKI 1,595 1,680 Total R¢source5 Ex nded 69,405 46,614 NET SURPLUS FOR THE YEAR 1,423,312 1,482,609 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 1.423.312 1,482,609 2,115,$ 652,397 ADJUSTMENT- ACCOUNTING POLICY CHANGE Re5atin8 to Freehold Property Value5 21c1&7 76,If TOTAL FUNDS CARRIED FORWARD 3.634,478 2,135,OJ6 The Notes on Pages 12 to 16 form part of these FinarKial Siatefflents. The overall aciivltles are clas*d as continijing and there are no galns or losses otherihan those intluded above. The Pitt% lane Hall, Woodley. may In due course, be disposed of.
Page 10 SARUM AILLGOSPELHALL TRUST BALANCE SHEET ASAT5 APRIL 2024 Asat Asat 05.04.Z024 05.04.2023 Notes TANGIBLE HXED ASSETS Freehold Land and Buildings Filting5. FurnTrture and Equipment 3,601,355 21,472 2,102,167 28,629 To al Flxed A55e 3,622.827 2,130,796 CURRENT ASSErs Prepayments Bank Account 8,898 11,679 1.129 7,058 20,577 8,187 LESS.. CURRENT LIABILITIES- Duè withln l Year Creditors Accruals 12,7831 16,1431 12861 13,6911 18,9261 13,9771 NETC ARENT ASSETS 11,651 4,210 NET ASSETS 3.634.478 2,135.006 Represented by'.- FUN05~ UNRESTRICtED FUNDS GENERAL RESERVES Opening Balance Net Surplus for the Year Transfer frorTI Revaluatlon Reserve Adju5tment- Accountin8 Policy Chan8e Relatin8 to Freehold Property Value5 1,960,006 1,423,312 175.OLK) 477,397 1.482,609 2{cl,&7 76,160 Closin8 Balance 3.634.478 1,960,006 REVALUATION RESERVE 175,LX)O TOTAL FUNDS 3.634.478 2.135,L¥J6 The audited Financial Statements werè approved and authorised for issue by the TTUStees of Sarum Hill Gospel Hall Trust on the underrnentioned date. and were signed on their behalf by'.- Tnjstee 2ts111121fr Date The Notes on Page 12 to 16 form part of these Finanoal Statements.
Page 11 SARUM HILL GOSPEL HALL TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL2024 YH Year Ended Year Ended 05.04.2024 05.04.2023 No CASH FLOWS FROM OPERATING ACTIVITIES Net Incomlng Resources for the Year 1.423,312 1.482,609 Adjustment for:. DepTeclalion 36,657 24,846 Changes in:. Prepayments Credltors and Accruals 17.7691 4.949 16361 2,847 NET CAS INFLOWS F M OPERATING AcrivmE5 1,457.149 1,509,666 CASH FLOWS FROM INVESTING ACTIVITIES Purchase ijf Tanglble Flxed A55ets 11,452.5281 11,505,5511 NET INCREASE IN CASH AND CAS IV ENTS 4,621 4,115 CASH AND CASH E U1vANTs AT BEGINNING OF YEAR 7,058 2,943 CASH AND CASH E UIVALENTS AT END OF YEAR 11,679 7,058 The Notes on Page 12 to 16 forrn part ol ihese Financial Statement5.
Page 12 THE SARUM HILL GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ACCOUNTING POLICIES 1.1 Basi5 of aration of Financial Statements The financial statement5 have been prepared in accordance with Accounting and Reporting by Charltles.. Second edition of the Statement ol Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in OctobeT 2019, the Fin?ntial ReportinB Standard applicablc in the United Kingdom and Republic of ITÈland IFRS 1021, and UK Generally Accepted Accountin8 Practi. Tlie functlonal currency of the Charity is Sterling IE). The Trthst meets the delinition of a public benelit eniity vnder FRS 102. Assets and liabilities are 1nlli6lly recogni5ed al historical cost or tran5aclion value unle55 Otherwise stated In the relevant accounting policy note5. re 1.2 lud Crl ements an ke ountin sources of estMatIOn uncertaint em sou n unrtaIn In the application of the charity's accounting policies, trvstees a requlred io make judgements, estiinates and assurnptions about the carryin8 values of assets and liabilities that are not readily apparent from other sources. Thè È51imates and undèr5yln8 assumptions are based on historical emperience and tsthcr factors that are cons5dered to be relevant. Actual results may dlffer from these e5timate5. The estlmates and underlyln8 assLtmplions are revlewed on an onBolng basis. Revision5 to accountlng estlmate5 are iecognisèd in the period in which the estimète is revised Sf the revision aflects only that period, or Sn the perlod of the revbslon and fvture periods if the revlsion affects both Current and future periods The critical judgements made by trustees that have a signtficant effect on the amounts re¢oKnlsed in the flnanclal statement5 are described below. In the course of preparlng the financial stalÈments. nojud8ements have been made in the process of applying the charity'5 JccountinB w)litles, other than those Invofving e5timalions, that have had a sSgnlflcant effect on the amounts recogni5ed in the financlal statements. Sources of estimalion uncertalnty- Useful IFve5 oldepreciable a$5et5 Trustees revlew their Èitimate of the useful live5 of depreciable a55ets at each reportlng date, based on thè expeited utility of the asseis. Uncertainties in these Èstimates relate to obsole5cen that may change the utility of furnlture, liltings and equipment. 1.3 Incomin Resources Donations are reco8nised In the Year in which therè is entitlement and probabi1Sty of receipt and the amount can be measured with reasonable certainty. Income 15 only deferred whenthe Charity has lo fullil condition5 before becorning entitled to it or where the donor has Specified thai the income is to be expended In future year. Gift-ald Is added to the value of the (k>nation5 to which it relatès. Oonated setvices are recognised a5 income and expendilure in the financial statements when organisations or Sndlvlduals offer thelr services and support pro bono. The value of these donated servlces to Sarum HFII Gospel Hall Tfvst Is considered to be equal to market value which would be paid were the services formalty procu. Investmeni Intome is accounied for on a recepiable basls.
Page 13 SARUM HILL GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CONTINUED I. ACCOUNTING POLICIES CONTINUED 1.4 Resources Ex ended Expenditure is included on an accrua15 basis. Liabilitie5 are recognised as soon as there 15 a legal or constructive obligation committing the charity to pay out resources. Charitable activities tomprlse those costs dlrectly attributable to the fulfilrnent of the charitable objects. vernance and Su It costs These costs comprise all costs involving the public accouniabllity of the Charlty and cost5 related to statutory requirements. 1.6 Chan e of Accountin Poll With effECt fiom 6, April 2023. the Trustees have determined thai there should be a change of Accountirhg pollcy wlth regard to the staternenl of Freehold Property value5 which in all coses will now represent or4ginal cost, less depreciation where appropriate per Noie 1.6. The effe of thls chanBe Is further slated In Notes 2lcl and 7. 1.7 Tan Ile Fixed Assets and De Freehold Pro Freehold Properties owned prSorto S, April 2022 were previously stated at Valuations as at S April 2020. determined by the Trustees. Additions in the year to 5 April 2023 were stated at cost whlch was also considered to represent faiT valuation. From 6 April 2023 all Propertbes are stated at cost, less depreciation where appropriate per Note l.S. Nc depreciation Is chaiBed In this year on Properlie5 at 9, Hollow Lone, Shlnfiehl and at 20 Pitts Lane, Earley whlch are consideTed to be worth not less than book value. No depreclation is charged on the Properties acqulred In the year unlll such lime as they Iiave been adapted and brotsght into Use. The remainin8 Pioperties are depreciatèd at 3% per annum on the stralght line basls t)n ihelr Value excludlng land. reciation urnitu in SdndE ment These are stated in the BalantÈ Sheet at Cost lessdepreclatlon. Depreclatlon Is chaf8ed at 25% perannum on the Tedu¢in8 balance basis, calculated monthty where assets were acquired during the year. 1.7 Taxatlon The Trusl is a registered charity and is not liable to Unlted Kin8dom taxation on chafltable actlvltie5, provlded Income falls wSthln the charitable exemptlons and15 spent on charl1ab purposes. 1.8 F nds All Funds are General Unreslricted Funds and are free for the Trnstees to use for any purpose In furtherance ol the Trust's charitable objects. 1.9 Goln Conc rn The Trustees conslder that there are no material uncertainties about the charliS ability to continue a5 a going contern. The Tru5tee5 do not consider that there are any source5 of estimatlon uncertainty at the reporting date that have a 5ignificani risk of causing a materlal adjustment to the carrying amvun15 Qf ssets and liabi1Sties within the next reportin8 period.
Page 14 SARUM HILL GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 TH CONTINUED 2.lal TANGIBLE FIXED ASSETS (Per note 1.71 These Comprise'.- Freehold Fittings, Land and Fuinlture & Bulldlngs Equlpment Total COST As at 06.04.2023 Adlustment- Accounting Pollcy chan8e Additions in Year 2,125,CN 63,160 1.452.528 35,510 2,160,510 63,160 1,452,528 As at 05.04.2024 3.640,688 35,510 3,676,198 DEPRECIATION As at Q6.04.2023 Adjustment- Attountin8 Policy change Charge for Year 22,833 113,0001 29,SC(I 6,881 29,714 113,0001 36,657 7.157 As at 05.04.2024 39,333 14,038 53,371 NET BOOK VALUE A5 at 05.04.2024 3.601.35S 21,472 3,622,827 As at 05.04.2023 2,102,167 28.629 2,130,796 2.lbl FREEHOLD LAND AND BUIIOINGS COMPRISE Land Registry IL.R.l T¢tlc N05. are as below Net Book Accountlnt Addltlon5 Value Pollty in Year Depreciatlon 06.04.2023 Change At Cost In Year Net Book Value 05.04.2024 BO K VALUE Meetln Ha115 at: 9 Hollow Lane, Shlnfleld. Readin8 L.R. Title No.. BK390526 245,(KK) 133,409 378,409 20 Pitts Lane, Woodley. Readlng L.R. Tltle No.. eK397046 392.LfL) 157,2491 334,751 97 Oxford Road, Wokin8ham L.R. Tltle No.. BK56270 496,667 lio,owi 486,667 Vew Tree, Spencers Wood. ReadlnB L.R. Title No.. 8K473069 471,833 I9.5} 462.333 78 Victoria Road. Mortimer L.R. Title No= BK43967 496,667 iio,wi 486,667 19 Grovelands Road, Spencers Wood L.R. Title No.. To be advised 584,924 584,924 Broadwater 8arn. Part Lane, Ri5eley L.R. Title No: To be advised 867, 867,604 2,102,167 76,160 1.452.528 129sc(II 3.601,355
Page 15 SARUM HILL GOSPEL HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5- APRIL 2024 CONTINUED Icl FREEHOLD LAND AND BUILDINGS.. The Accountlng Policy charee ¢omprfses: Adjustment to Adjustment Give Cost Oepreciation Net Adjustment 9 Hollow Lane, Shinfield 20 Pitts Lane, Earlev 128,409 165,2491 133,409 157,2491 63,160 13,OC*) 76,160 These two Properlies are now stated at OTi8inal Cost. prevlously at valuations less depreciatlon, All addresses a for Reading, Berk5hlre. TRUSTEES, REMUNERATION AND EXPENSES No Trustee received any remuneration for servke5 relered In thls year or In the precedinu year. Expense5 Incurred were relmbursed. If appllcable, at cost. wlth no benefit whatsoever arlsln8 io th recipient. EMPLOYEES AND VOLUNTEERS The Trvst had No Employees in this Year or thp. prècedlng Year. The Trust relles on Volunteers to carry out Management, Administratron and certain Mainlenance work. AUDITOR'S FEES year to 05.04.2024 Year to 05.04.2023 Fees payable for the audit of thè Flnancial Statements 1,680 DONATED SERVICES RECEIVED These were: Year to 05.04.2024 Year to 05.04.2023 SpÈtral Grant to acquire Properties For Meeting Hall Rurinings Cost5 1.442.568 50.149 1,496,659 32,564 1.492,717 1,529,223
Page 16 SARUM IIILL GOSPEL HAIL TrUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5- APRIL 2024 CONTINUED EFFECT OF ACCOUNTING POLICY CHANGE The Accoutbting Policy Change is refeired to in Note 1.6, and has the following effect'.- As at 06.04.2023 Net Increase in Freehold Propèrty Values per Note 2lcl 76,160 Net Increase in General Re5eThies As above Revaluation Reserve transferred 76,160 175,1))O 251,160 1175,(xxJI Revaluatlon Reserve rto longer requlred 76,160 No change would have arisen in the StatÈment of Flnancial ActNlties for the year to 05.04.2023 other than to lleCt the above figures at the year end and also in the Balance Sheet at that date. 8. RE OURCES EXP These were... Year to 05.04.2024 Yèar to 05.04.2023 Direct Costs Meèting Hall Running Costs per pa8e 9 Governar¢ce Costs 63.321 43,339 3.275 69,405 46,614 MOVEMENTIN FUND5 Year to 05.04.2024 Year to 05.04.2023 Unrcstritted Funds Opening Balance Inr.orning RÈsoufces Resources Expended Adjustmenl- Aceounting Policy change 2,135.( 1,492.717 169.4051 76,160 652,397 1,529,223 146,6141 Closing Balan 3.634.478 2,135.006 All Funds are available for the 8eneral purposes of the Trust. and there are no funds restricted io specific purposes.
Page 17 SARUM HILL GOSPEL HALL TrUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CON INUED 10. POST BALANCE SHEET EVENTS AND CAPITAL COMMITMENTS Since the year end. a sale has been achieved of the Hall at 20 Pitts Lane, Woodley, for a price of E702,(xXI. It is intended that a further Gospel Hall currentty owned by the Readlng Gospel Hall Trust will be transferrÈd to thls Trust. in due course. The Trust is commStted to acquiring further propertles for the provlsion of Gospel Halls specifically In the Flnchamp5tead and Burghfield areas. The adapt*on of the two sites acqulred in this year will be proceeded with and costings have yet to be esidblished. 11. RELATED PARTY TRANSAcfioNS DurSn8 the year. Ihe Iru5l reLeived donations totalliA El.442,568 from another trust connected vla shared services. There are no trustee5 thai are invofveil wlth boih trusl and ihe donation was agreed to fund the purchase of new properties.