## 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**
1
## 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.
2
## 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: ……………..…..………….
3
## 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
4
## 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.
5
## 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: ……………..…..………….
6
## 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.
7
## 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.
8
## 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|
9
## 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.
10