.
BEACON TRUST
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
BEACON TRUST
CONTENTS
| Page | Page | |
|---|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 1 | |
| Trustees' report | 2 - | 4 |
| Independent examiner's report | 5 | |
| Statement of financial activities | 6 | |
| Balance sheet | 7 | |
| Notes to the financial statements | 8 - | 12 |
BEACON TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2021
Trustees
Miss Jill Spink, Chair Mr Martin Spink, Trustee (Resigned 5 May 2021) Miss Julia Cameron, Trustee
Charity registered number
230087
Principal office
80 Heath Road Petersfield GU31 4EJ
Accountants
Scofield & Co 16 Halliwick Gardens Felpham Bognor Regis West Sussex PO22 7JE
Bankers
Royal Bank of Scotland Po Box 300 Brighton BN1 9TE
Solicitors
Mackarness and Lunt 16 High Street Petersfield Hants GU32 3JJ
Investment Adviser
Mr Philip Carpenter Redmayne Bentley 2b Chapel Street Petersfield Hants GU32 3DP
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BEACON TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2021
The Trustees present their annual report together with the financial statements of The Beacon Trust (the charity) for the ended 5 April 2021.
Structure, governance and management
⚫ CONSTITUTION
The principal objects of the Charity is the advancement of the Christian faith, the relief of poverty and the advancement of education.
⚫ METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed dated 26 March 1963.
⚫ RISK MANAGEMENT
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Objectives and Activities
⚫ POLICIES AND OBJECTIVES
These objectives have been achieved by the support of work in Spain and South America and by making grants to various other charities and individuals.
⚫ GRANT MAKING POLICIES
The Charity carefully considers all requests for funds and allocates resources based on their knowledge of the situation and their relevance to the ministry programme. In the year under review grants of £5,000 or more were made to the following institutions:
| £ | £ | |
|---|---|---|
| Open Doors | 5,000 | b/forward 54,000 |
| A Rocha | 12,000 | Tear Fund 40,000 |
| Transform Europe Network | 15,000 | MAF 5,000 |
| IFES | 12,000 | Wycliffe 5,000 |
| L'Abri | 5,000 | International Nepal Fellowship 8,000 |
| Christian Heritage | 5,000 | Latin Link 15,000 |
| 54,000 | 14 Grants below £5,000 37,000 |
|
| Total Grants for Year £164,000 |
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BEACON TRUST
Structure, governance and management
Achievements and performance
REVIEW OF ACTIVITIES
Despite the uncertainties, the financial instability and other problems of this Covid pandemic, with its subsequent lock-down in March 2020, Beacon Trust has continued to contribute substantially to all the missions to which we are historically committed. We are thankful to God for a good economic recovery later in the year, which has facilitated this, albeit in a few cases we have had to slightly reduce our giving.
In this challenging climate it has been very encouraging and humbling, to hear of significant ways that Beacon has contributed to the alleviation of suffering caused by Covid in various developing countries. In Latin America, especially in Colombia, Honduras and Nicaragua we have been able to give some desperately needed resources to combat the virus, and help with the associated physical, spiritual and psychological aftermath. On top of the virus, Honduras and Nicaragua have been doubly hit by two massive hurricanes, as the following short report from Tear Fund outlines: “Many people across Central America remarked that hurricanes Eta and Iota had been “the forgotten and never-seen crisis”. With the ongoing coronavirus pandemic still at large across the world, and the U.S Presidential election dominating media coverage last November, information about the category four and category five hurricanes barely even reached the news.”
“Without the generous support of Beacon, it would have been impossible for Tearfund’s partners across Central America, to show love and compassion to families who had lost everything. It has benefited over 16,000 people with food, drinking water, hygiene kits, livelihood tools, mattresses, water tanks etc, as well as the shelter, counselling, and spiritual support from the local churches.”
A similar story is told from Nepal where the International Nepal Fellowship work. In relation to the ravages of Covid, they have been able to strengthen their community work, education and support for men and women caught up in gender violence. “Your grant of £8,000 is being used to support our IDEAL project in Bajura. You are enabling this community health and development work to flourish, and as a result people in Nepal are being equipped to bring significant and life-changing differences to their communities”.
In Burundi, Rwanda and other countries, we hear of similar stories, and not to mention the crucial work of Wycliffe Bible Translators in Africa, the work of A’Rocha in India and Peru, and all that Latin Link are doing, also in Latin America.
Nearer to home, we are sad to report that our hard working trustee, Martin Spink, who has served the Trust for 20 years, since well before Joan Spink’s death, is retiring. Martin has contributed so much, and been exemplary in his commitment, and able handling of many practical, pastoral and administrative issues. We are very grateful to him, and to the Lord he serves so faithfully We pray He will give him strength,,wisdom and joy, to continue to be used for the increasing influence of His one-and-only life-giving Good News. At the same time, we are also very thankful for Julia Cameron, who joins us as trustee. We also pray for her in this new opportunity and challenge, that His face would shine on her, and on us as a team, as we journey on together .
Moving on to Spain, Cascadas has obviously been much affected by Covid, as we have not been able to have our usual activities and groups. However it has been a good opportunity to spend time on local relationships, catch up on many practical and administrative tasks, maintenance issues, wood collecting and cutting etc. As restrictions were eased somewhat last summer, we were able to respond to requests for personal and family retreats, invite people who desperately needed to escape for renewal on all levels, and host a few small activities.....English conversation, Bible reflections, film-forums etc. Thanks to the space we are privileged to enjoy, both inside the main house and in the gardens, for socially distanced “meetings” and meals, we were able to do more than we had envisaged. It was excellent to be able to offer this “shelter and oasis” to people who really needed to be surrounded by God’s consolation and generosity, both through His beautiful creation, and through the Team and others who follow Him.
The progress on the proposed A’Rocha Associated project has been somewhat slowed down during Covid, but we are now finalising the application and hope to make a great step forward this summer. Although it is still complicated to make plans, we hope and pray we can hold some Creation Care Reflection/study
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BEACON TRUST
sessions, during these next few months, as well as some practical workshops. We are also planning some hiking and discussion weekends, together with volunteer working activities, and English conversation Days on carefully chosen topics!
We continue to have a close relationship with the Refugee Project next door, and a Christian Venezuelan family, who work for them, are living in the small Cascadas house. We hope and pray to build on these opportunities.
• FINANCIAL REVIEW
The Statement of Financial Activities shows incoming resources at £50,809 (2020 - £64,592). Resources expended amounted to £212,949 (2020- £316,750).
The Charity holds funds invested in listed securities under the management of Mr Philip Carpenter. The portfolio was revalued at market value producing a surplus of £246,209 compared with a deficit of ££244,799 in the previous year.
The freehold property valuation was unchanged at £1,225,000,
The resultant net movement of funds was a surplus of £84,079 (2020 – deficit of £496,957) with funds carried forward of £2,092,009, compared with £2,007,930 in the previous year.
• PUBLIC BENEFIT
The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission of England and Wales.
• RESERVES POLICY
The Trustees have considered the level of reserves necessary for the operation of the Charity. As the Trust is primarily a grant making Charity, it is considered that three months expenditure, or £30,000, is an adequate buffer.
This report was approved by the Trustees on 2021 and signed on their behalf by:
................................................ Miss Jill Spink, Chair
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BEACON TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2021
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEACON TRUST
I report on the financial statements of the charity for the year ended 5 April 2021 which are set out on pages 6 to 12.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees who are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act;
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To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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To state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a 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 you as trustees concerning 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 statement below.
INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
• to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the principles of the Statement of Recommended Practice; Accounting and Reporting by Charities
has not been met: or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated 2021
G H T Scofield FCCA
SCOFIELD & CO
16 Halliwick Gardens Felpham Bognor Regis West Sussex PO22 7JE
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BEACON TRUST
| STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED 5TH APRIL 2021 Note INCOMING RESOURCES Incoming resources from generated funds: Voluntary income 2 Investment income 3 Incoming resources from charitable activities 4 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities 9 Governance costs 8 TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES / (RESOURCES EXPENDED) BEFORE REVALUATIONS Gain/(Loss) on revaluation of freehold property Additional Investment assets Gains and losses on investment assets 12 NET MOVEMENT IN FUNDS FOR THE YEAR Total funds at 6 April 2019 TOTAL FUNDS AT 5 APRIL 2020 The notes on pages 8 to 12 form part of these financial statements. |
Unrestricted Funds 2021 £ 17,516 33,293 - 50,809 208,629 4,320 212,949 -162,140 - - 246,219 84,079 2,007,930 2,092,009 |
Total funds 2020 £ 11,129 53,463 - |
|---|---|---|
| 64,592 | ||
| 313,500 3,250 |
||
| 316,750 | ||
| -252,158 - |
||
| - | ||
| -244,799 | ||
| -496,957 | ||
| 2,504,887 2,007,930 |
||
Page 6
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BEACON TRUST
BALANCE SHEET AS AT 5 APRIL 2021
| Note £ FIXED ASSETS Tangible assets 11 Investments 12 CURRENT ASSETS Debtors 13 21,584 Cash at bank and deposits 50,682 72,266 CREDITORS:amounts falling due within one year 14 (19,102) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS:amounts falling due after more than one year 15 NET ASSETS CHARITY FUNDS Unrestricted funds 16 TOTAL FUNDS |
2021 £ £ 2020 £ 1,225,000 1,225,000 985,454 990,539 2,2,10,454 2,215,539 18,644 50,007 68,651 (103,495) 53,164 (34,844) 2,263,618 2,180,695 (171,609) (172,765) 2,092,009 2,007,930 2,092,009 2,007,930 2,092,009 2,007,930 |
|---|---|
The financial statements have been prepared in accordance with the provisions applicable to small entities within the Charities Act 2011, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements were approved by the Trustees on 2021 and signed on their behalf, by:
................................................
Miss Jill Spink, Chair
The notes on pages 8 to 12 form part of these financial statements.
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BEACON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014, with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Charities Act 2011 and applicable regulations.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
1.3 Incoming resources
All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.
1.4 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
1.5 Tangible fixed assets and depreciation
All assets costing more than £250 are capitalised.
The policy with respect to impairment reviews of fixed assets is that the property will be revalued every year and any gains or losses will be recognized in the accounts.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.:
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BEACON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
1. ACCOUNTING POLICIES (continued)
1.6 Investments
Investments are stated at market value at the balance sheet date. The Statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.
| 2. VOLUNTARY INCOME Unrestricted funds 2021 £ Donations and contributions17,516 3. INVESTMENT INCOME Unrestricted funds 2021 £ Investment income - llisted investments 33,272 Investment income - bank deposit accounts21 33,293 4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Unrestricted funds 2021 7 £ Income from freehold property - 5. GRANTS TO INDIVIDUALS AND INSTITUTIONS Unrestricted funds 2021 £ Grants to individuals and institutions 162,000 |
Total funds 2020 9 £ 11,129 Total funds 2020 £ 53,303 160 53,463 Total funds 2020 £ - Total funds 2020 £ 280,250 |
|---|---|
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BEACON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
6. DIRECT COSTS
| Property running and survey costs Property maintenance Garden maintenance SUPPORT COSTS Portfolio management Insurance Professional charges Taxation-- Sundries |
Total 2021 Total 2020 £ £ -2,940 5,5001,496 8,1041,000 13,6045,436 Total 2021 Total 2020 £ £ 6,874 3,701 474800 8,320 14,384 2,501 8,451 -186837 17,983 28,173 |
|---|---|
7. SUPPORT COSTS
8. GOVERNANCE COSTS
| 8. GOVERNANCE COSTS |
||
|---|---|---|
| Unrestricted | Total | |
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Governance - Independent examination | 2,012 | 1600 |
| Governance - Difference | 10,749 | 1,650 |
| 12,761 | 3,250 |
9. ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES
| Activities | Grant | ||||
|---|---|---|---|---|---|
| undertaken | funding of | Support | |||
| directly | activities | costs | Total | Total | |
| 2021 | 2021 | 2021 | 2021 | 2020 | |
| £ | £ | £ | £ | £ | |
| Direct costs | 13,604 | 162,000 | 17,983 | 193,587 | 313,859 |
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BEACON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2020
10. NET INCOMING RESOURCES / (RESOURCES EXPENDED)
During the year, no Trustees received any remuneration (2019 - £NIL). During the year, no Trustees received any benefits in kind (2019 - £NIL).
1 Trustees received reimbursement of travel expenses amounting to £1,650 in the current year, (2020 - 2 Trustee - £1,650).
11. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Cost At 6 April 2020 Additions At 5 April 2021 Revaluations At 5 April 2021 Net book value At 5 April 2021 At 5 April 2020 |
Freehold property £ 1,285,968 - |
| 1,285,968 | |
| -60,968 | |
| 1,225,000 | |
| 1,225,000 |
No depreciation has been provided as the trustees intend to revalue the property on a regular basis.
12. FIXED ASSET INVESTMENTS
| Market value At 6 April 2019 Movements in year At 5 April 2020 Investments at market value comprise: Listed investments 985,454 |
Listed securities £ 990,538 -5.084 985,454 980,538 |
|---|---|
All the fixed asset investments are held in the UK
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BEACON TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
| 13. DEBTORS Other debtors 14. CREDITORS: Amounts falling due within one year Bank loans and overdrafts - Taxation - Other creditors 15. CREDITORS: Amounts falling due after more than one year Other creditors 16. SUMMARY OF FUNDS Brought Forward £ General funds 2,007,930 |
Incoming resources £ 50,809 |
2021 £ 21,584 2021 £ - 10,952 8,150 19,102 2020 £ 171,609 Resources Gains/ Expended £ (Losses) £ (212,949) 246,219 |
2021 £ 21,584 2021 £ - 10,952 8,150 19,102 2020 £ 171,609 Resources Gains/ Expended £ (Losses) £ (212,949) 246,219 |
2020 £ 18,644 2020 £ 86,000 8,451 9,044 103,495 2020 £ 172,765 Carried Forward £ 2,092,009 |
|---|---|---|---|---|
| 246,219 |
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