REGISTERED COMPANY NUMBER: CE031078 (England and Wales) REGISTERED CHARITY NUMBER: 1201504
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 November 2024
for
Faith Foundation Trust (A Company Limited by Guarantee)
Brian Gumbley Accountancy Services Ltd Corner House 28 Huddersfield Road Newhey Rochdale Lancashire OL16 3QF
Faith Foundation Trust
Contents of the Financial Statements for the Year Ended 30 November 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 to 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 11 |
| Detailed Statement of Financial Activities | 12 |
Faith Foundation Trust
Report of the Trustees
for the Year Ended 30 November 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The primary object of Faith Foundation Trust is to advance the Christian religion for the public benefit. This is fulfilled through:
Providing grant funding to churches and Christian organizations. Supporting outreach activities that promote the Christian faith.
Assisting in the operational needs of Christian missions within Greater Manchester and beyond.
Significant activities
This was our second year and no activity has taken place. We have plans ahead to assist with a Bore Hole.
FINANCIAL REVIEW
Principal funding sources
The charity receives its donations for local businesses.
Investment policy and objectives
The company needs instant access to the funds and are deposited in a regular bank account. There are currently no excess funds to place on deposit or invest.
Reserves policy
The are no excessive reserves to currently deal with.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Faith Foundation Trust is governed by a board of trustees who are responsible for the overall management and strategic direction of the charity. The trustees meet regularly to review activities, ensure compliance with legal and regulatory requirements, and oversee the charity's financial health.
Recruitment and appointment of new trustees
Trustees are appointed by the current trustees based on their knowledge and experience they bring to the charity.
Page 1
Faith Foundation Trust
Report of the Trustees
for the Year Ended 30 November 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE031078 (England and Wales)
Registered Charity number
1201504
Registered office
Suite 312 Britannia Way Waters Meeting Business Park Bolton Lancashire BL2 2HH
Trustees
D Baird J Donnelly C J Broardhurst D J Bagley Ms M Broadhurst Miss A M Baird E A J Broadhurst
Company Secretary
Independent Examiner
Brian Gumbley Accountancy Services Ltd Corner House 28 Huddersfield Road Newhey Rochdale Lancashire OL16 3QF
Approved by order of the board of trustees on 30 April 2025 and signed on its behalf by:
D Baird - Trustee
Page 2
Independent Examiner's Report to the Trustees of Faith Foundation Trust
Independent examiner's report to the trustees of Faith Foundation Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
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Independent Examiner's Report to the Trustees of Faith Foundation Trust
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Brian Gumbley MAAT
Brian Gumbley Accountancy Services Ltd Corner House 28 Huddersfield Road Newhey Rochdale Lancashire OL16 3QF
Date: .............................................
Page 4
Faith Foundation Trust
Statement of Financial Activities for the Year Ended 30 November 2024
| Period | |||
|---|---|---|---|
| 12.10.22 | |||
| Year Ended | to | ||
| 30.11.24 | 30.11.23 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS | |||
| FROM | |||
| Donations and legacies | - | 5,000 | |
| EXPENDITURE ON | |||
| Raising funds | 2 | 240 | 240 |
| NET INCOME/(EXPENDITURE) | (240) | 4,760 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 4,760 | - | |
| TOTAL FUNDS CARRIED | |||
| FORWARD | 4,520 | 4,760 |
The notes form part of these financial statements
Page 5
Faith Foundation Trust
Balance Sheet 30 November 2024
| 30.11.24 | 30.11.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 4,760 | 5,000 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (240) | (240) |
| NET CURRENT ASSETS | 4,520 | 4,760 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 4,520 | 4,760 | |
| NET ASSETS | 4,520 | 4,760 | |
| FUNDS | 6 | ||
| Unrestricted funds | 4,520 | 4,760 | |
| TOTAL FUNDS | 4,520 | 4,760 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
Faith Foundation Trust
Balance Sheet - continued
30 November 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 April 2025 and were signed on its behalf by:
D Baird - Trustee
The notes form part of these financial statements
Page 7
Faith Foundation Trust
Notes to the Financial Statements for the Year Ended 30 November 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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Faith Foundation Trust
Notes to the Financial Statements - continued for the Year Ended 30 November 2024
2. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| Period | ||
| 12.10.22 | ||
| Year Ended | to | |
| 30.11.24 | 30.11.23 | |
| £ | £ | |
| Support costs | 240 | 240 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2024 nor for the period ended 30 November 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2024 nor for the period ended 30 November 2023.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 5,000 |
| EXPENDITURE ON | |
| Raising funds | 240 |
| NET INCOME | 4,760 |
| TOTAL FUNDS CARRIED | |
| FORWARD | 4,760 |
continued...
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Faith Foundation Trust
Notes to the Financial Statements - continued for the Year Ended 30 November 2024
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|---|---|---|
| 30.11.24 | 30.11.23 | |||
| £ | £ | |||
| Accrued expenses | 240 | 240 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| At | movement | At | ||
| 1.12.23 | in funds | 30.11.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 4,760 | (240) | 4,520 | |
| TOTAL FUNDS | 4,760 | (240) | 4,520 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | - | (240) | (240) | |
| TOTAL FUNDS | - | (240) | (240) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| in funds | 30.11.23 | |||
| £ | £ | |||
| Unrestricted funds | ||||
| General fund | 4,760 | 4,760 | ||
| TOTAL FUNDS | 4,760 | 4,760 |
continued...
Page 10
Faith Foundation Trust
Notes to the Financial Statements - continued for the Year Ended 30 November 2024
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 5,000 | (240) | 4,760 |
| TOTAL FUNDS | 5,000 | (240) | 4,760 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 November 2024.
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Faith Foundation Trust
| Detailed Statement of Financial Activities | |||||
|---|---|---|---|---|---|
| for the Year Ended 30 November 2024 | |||||
| Period | |||||
| 12.10.2 | 2 | ||||
| Year Ended | to | ||||
| 30.11.24 | 30.11.23 | ||||
| £ | £ | ||||
| INCOME AND ENDOWMENTS | |||||
| Donations and legacies | |||||
| Donations | - | 5,000 | |||
| Total incoming resources | - | 5,000 | |||
| EXPENDITURE | |||||
| Support costs | |||||
| Governance costs | |||||
| Accountancy and legal fees | 240 | 240 | |||
| Total resources expended | 240 | 240 | |||
| Net (expenditure)/income | (240) | 4,760 |
This page does not form part of the statutory financial statements
Page 12