The Sherborne Road Church Trust
Charity number 256454
Annual Report and Financial Statements
for the year ended 31 March 2024
The Sherborne Road Church Trust
Annual Report and Financial Statements for the year ended 31 March 2024
| Contents | Page |
|---|---|
| Trustees' report | 2 to 3 |
| Examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 to 10 |
Prepared by West Yorkshire Community Accountancy Service CIO
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The Sherborne Road Church Trust
Trustees' report for the year ended 31 March 2024
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates
Martin Nkosana Phiri Brian Chaka Furaha Mussanzi Ajiroghene Ayokunle Zoran Sulc Joseph Czajka
Chair
Appointed 17 March 2024 Appointed 17 March 2024 Resigned 30 October 2023
Charity number
256454
Registered in England and Wales
Registered and principal address
Bankers
1 Sherborne Road HSBC Bank plc Great Horton PO Box 45 Bradford 47 Market Street BD7 1RB Bradford BD1 1LW
Independent examiner
Alan Dodd FCCA
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
Structure, governance and management
The charity is governed by a trust deed adopted on 1 January 1968.
Method of recruitment and appointment of trustees
The trustees of the charity are appointed by the trustees at a duly convened meeting.
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The Sherborne Road Church Trust
Trustees' report (continued) for the year ended 31 March 2024
Objectives and activities
The charity's objects
Advancement of the Christian faith.
The charity's main activities
The Sherborne Road Church Trust is based in premises near the University of Bradford and Bradford College and provide friendship, English language practice and opportunities for Bible studies for international students from all backgrounds.
Public benefit statement
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of religion and the advancement of community development.
Achievements and performance
The charity has provided a safe space for international students to live and visit in throughout the year. And has taken part in contributing to improving the mental welfare of several foreign individuals.
The Trust continued to direct all its efforts and finances to the work of Global Cafe. The Trust continues to employ two part-time staff during this period. The team leader leads a team of volunteers in welcoming all international students - whatever their nationality, religion or background. It is a core value of the Trust that Global Cafe extends a welcome to all international students and facilitates friendships across cultures. Global Cafe provides an introduction to the Christian faith for those who express an interest.
The Tenancy Manager leads on recruiting new tenants and manages the maintenance of the building. The purpose to have a presentable and welcoming environment is vital to aid the ministry.
As part of its mission, the Trust continued to own a property near the university which is intended to be the place where the main activities of Global Cafe are held. This property also contains flats and storage space, and the entire rental income would normally go into funding Global Cafe.
During this financial period, both basement flats and two upstairs rooms are currently rented out. The Trust continues to maintain the property in accordance with the current legislation and can, for the next 12 months, meet all of its financial obligations thanks to the support of our insurers and individual supporters.
The Trust's funds allow year-round hospitality to be extended to all international students. The Trust actively promotes good relationships between Global Cafe, local churches, the University of Bradford Christian Union, the University Chaplaincies, and the International Office of the University of Bradford.
Financial review
The net expenditure for the year was £6,834, wholly on unrestricted funds.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £6,104.
The trustees have agreed to build up reserves for the purpose of enabling an orderly winding up should the charity need to close and to allow for the smooth running of the charity. At present, our reserves at the bank amount to just under 2 months' expenditure. Our aim is to increase the reserves with further rental income up to previous levels of around 6 months’ worth of expenditure and then to maintain that level going forward.
Approved by the board of trustees on …………..……...…….
Signed: ………………..…………. (Trustee)
Name: ……………..…..………….
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The Sherborne Road Church Trust
Independent examiner's report to the trustees of The Sherborne Road Church Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024, which are set out on pages 5 to 10.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records; or
-
3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Signed: …………………………………… Name: Alan Dodd FCCA
Date: …………………….
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
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The Sherborne Road Church Trust
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2024
| Notes 2024 Total funds £ Income from: Grants and donations (2) 11,160 Rental and council tax income 20,301 Gift Aid 1,340 Insurance claim - Other income 426 Total income 33,227 Expenditure on: Salaries, NICs and pensions (3) 12,944 Leadership and training 350 Premises expenses 14,244 Insurance 1,902 Evangelism and Global Café 1,287 Administration costs 1,404 Independent examination 528 Other costs - Depreciation 7,402 Total expenditure 40,061 Net income / (expenditure) (6,834) Fund balances brought forward 245,503 Fund balances carried forward 238,669 |
2023 Total funds £ 7,847 3,812 1,389 6,252 - |
|---|---|
| 19,300 | |
| 10,545 326 9,205 1,925 400 1,956 600 6,352 8,412 |
|
| 39,721 | |
| (20,421) 265,924 |
|
| 245,503 |
All incoming resources and resources expended derive from continuing activities.
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The Sherborne Road Church Trust
Balance sheet
| Balance sheet The Sherborne Road Church Trust |
||
|---|---|---|
| as at 31 March 2024 Fixed assets Tangible assets (4) Total fixed assets Current assets Debtors and prepayments (5) Cash at bank and in hand (6) Total current assets Current liabilities: amounts falling due within one year Creditors and accruals (7) Total current liabilities Net current assets / (liabilities) Net assets Funds Unrestricted funds Restricted funds Total funds |
2024 Total £ 232,565 232,565 1,273 7,335 8,608 2,504 2,504 6,104 238,669 238,669 - 238,669 |
2023 Total £ 239,967 |
| 239,967 | ||
| 659 6,795 |
||
| 7,454 | ||
| 1,918 | ||
| 1,918 | ||
| 5,536 | ||
| 245,503 | ||
| 245,503 - |
||
| 245,503 |
The financial statements were approved by the board of trustees on …………..……...…….
Signed: ……………...………….…. (Trustee)
Name: ……………..…..………….
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The Sherborne Road Church Trust
Notes to the accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Tangible fixed assets
Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost over their expected useful economic lives as follows: Freehold land: nil Freehold buildings: over 50 years Improvements to property: 20% reducing balance Furniture and equipment: 20% reducing balance
Pensions
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
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The Sherborne Road Church Trust
Notes to the accounts
for the year ended 31 March 2024
1 Accounting policies continued
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
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The Sherborne Road Church Trust
Notes to the accounts continued
for the year ended 31 March 2024
| 2 Grants and donations Bethel Baptist Church City Valley Church Elim Gateway Sunbridge Road Mission The Light Church Bradford Cathedral Other donations 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions |
2024 Total funds £ 250 1,100 400 3,000 1,000 - 5,410 11,160 2024 £ 12,747 108 (108) 197 12,944 |
2023 Total funds £ - 600 1,200 - - 250 5,797 |
|---|---|---|
| 7,847 | ||
| 2023 £ 10,353 123 (113) 182 |
||
| 10,545 |
| **4 ** | Defined contribution pension scheme 2024 2023 £ £ Costs of the scheme to the charity for the year 197 182 Tangible assets Total Cost £ £ £ £ £ At 1 April 2023 15,000 89,733 250,000 6,295 361,028 Additions - - - - - At 31 March 2024 15,000 89,733 250,000 6,295 361,028 Depreciation At 1 April 2023 7,320 77,735 30,240 5,766 121,061 Charge for year 1,536 2,400 3,360 106 7,402 At 31 March 2024 8,856 80,135 33,600 5,872 128,463 Net book value At 31 March 2024 6,144 9,598 216,400 423 232,565 At 31 March 2023 7,680 11,998 219,760 529 239,967 The average number of employees during the year was 2, being an average of 0.6 full time equivalent (2023: 1.2, 0.5 FTE). There were no employees with emoluments above £60,000. Kitchen improvement Property improvement Freehold buildings Furniture & equipment |
Defined contribution pension scheme 2024 2023 £ £ Costs of the scheme to the charity for the year 197 182 Tangible assets Total Cost £ £ £ £ £ At 1 April 2023 15,000 89,733 250,000 6,295 361,028 Additions - - - - - At 31 March 2024 15,000 89,733 250,000 6,295 361,028 Depreciation At 1 April 2023 7,320 77,735 30,240 5,766 121,061 Charge for year 1,536 2,400 3,360 106 7,402 At 31 March 2024 8,856 80,135 33,600 5,872 128,463 Net book value At 31 March 2024 6,144 9,598 216,400 423 232,565 At 31 March 2023 7,680 11,998 219,760 529 239,967 The average number of employees during the year was 2, being an average of 0.6 full time equivalent (2023: 1.2, 0.5 FTE). There were no employees with emoluments above £60,000. Kitchen improvement Property improvement Freehold buildings Furniture & equipment |
|---|---|---|
| 361,028 | ||
| 121,061 7,402 |
||
| 128,463 | ||
| 232,565 | ||
| 239,967 |
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The Sherborne Road Church Trust
Notes to the accounts continued
for the year ended 31 March 2024
| 5 Debtors and prepayments Accrued income 6 Cash at bank and in hand Cash at bank 7 Creditors and accruals Accruals Taxation and social security Tenants' bonds |
2024 £ 1,273 1,273 2024 £ 7,335 7,335 2024 £ 528 316 1,660 2,504 |
2023 £ 659 |
|---|---|---|
| 659 | ||
| 2023 £ 6,795 |
||
| 6,795 | ||
| 2023 £ 600 318 1,000 |
||
| 1,918 |
8 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
Trustee remuneration and benefits
No trustee received any remuneration or benefit during this or the previous year.
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