Charity number.. 265365 ST PETER MANCROFT MISSION HALL TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
ST PETER mANCR0 MISSION HALL TRUST CONTENTS Page Reference and Administrative Dgtsils of the Company, its TTUStees and Advisers Trustee$. Report Independent Examinerfs Report Statomgnt of Financial A¢tivitie5 B¥lance Sheet Notes to tho Financlal Statements 8-11
ST PETER MANCROFT MISSION HALL TRUST REFERENCE AND ADMINISTRATIVE DAlLs OF THE COMPANY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Holding TNst••s Geoffrey Loades. Chaimwi Zara P Harn[nd Paul R King Cdin I Pordham Trustees The Revd Cn EIthVa Carter. VKar Peter Threathell. Churchward Hen3 Carr. Churc1TarjI Charity re9lst•r•d number 265365 Principal offi¢e Churth Office The Chantry Norwich NR2 1QZ Accountants LaIng Gowen LLP charter Accountants KirvJ Street House 15 Upper King stet Norwch NR3 1RB Solicitors H¢)wes Percival Fk'nt 8LJildingS 1 Beddir¥J Lanè Norwich NR3 1RG PwJe 1
ST PETER MANCROFT MISSION HALL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The TTUStees present their annual report together wth the financial slatements of the charity for the 1 January 2021 to 31 December 2021. Structure. governancg and management Constitution The Mission Hall Trust was wnstituled by a Deed of Trust {The Indenlure'} on 14 Febwary 1899, and is a regislere¢J charity. No. 265365. For reasons of administrative nvenienCe, accounts are drawn up lo 31 December annually. b. Methods of appointment or electlon of Trustees The Indenture states that the land aNI buildings are uNler the sole control of the Vicar and Church Wardens. Previous reports have been made by the HdIng Trustees (see note 71, bul during the year il was CogniSed that the report should be made by the Vicar Church[den$, tho have always been acknO%edged to be the Managing Trustees. Objectives and activities . Charitable Objectives The Indenture ststes that the land and buildirwJs are under the ntr of the Vicar al Church Wardens and should be used for.. - The celebration of divine service. As a class room. meeting room or lecture room. As a place of meeting for clerical meeting5 or yxial wnferences of the dergy. Any other meeting5 to cover the [ed of the wngregation lch the Vicar arKI Church Wardens think are desirable. Rental income and income from licence and hiring fees from the Tnjsys property Ithe Chantry Hall) are received direcuy by St Peter Mancroft Church, Yknere Ihey are treated as unrestricted grant income and Ljsed towards the Church's general rn10n but in the future wll be paid inlo a nevAy opened bank account in the Trust's own name. b. Public benefit The Trustees confim that in exercising their powers duties, they have complied with th&r duty to have due regard to the guidance on public benefit published by the Chanty Commission. Page 2
ST PETER MANCROFT MISSION HALL TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Achievemonts and perfomance a. Review of Transactions and A¢tlvities During the year, the Trust received rents. licence arKI htririg fees amounling to £67,67012020'. £32,415). Grants were made lo the Church of St Peter Man¢roft amounting lo £62.71312020.. £32,415). The Church of St Peter Man¢rofl has paid the charitys independent examination fees of £894 in 2020, but the charity paid its own examiners fees for 2021. The overall result for the year is £3,811 12020.. £nill. Negotiations over a rent review look pla during the prior year and were LX)ncluded in eady 2021 vthich significantly enhanced the Trusts rental. Financial roviow a. Reserves policy Unrestricted fund5 at 31 Dember 2021 amounted to £764.811. induding £761.000 of the freehold property and £3,811 of nel currenl ats. vknich amounted tr) the charity's fe reseryes as at 31 December 2021. The Iruslees have not set a reserves target but gUlarlY monitor the level of funds. In d01ng so they lake into account annual operational expenditu of £3.15512020." £1.8841 and the level of free reserves exceeds that. Beyond administratitive costs, any other expenditure is at the trustees dixrelion. Estimates have been received for maintenance V•rJrk reqUId for Chantry Hall which average £36,000 per year for the next 5 years. The tnjstees a confident that In the foreseeable ftItU the Charity will L>& able lo fund il's costs from future income. The trL*slees will exercise thier discretion to prioritise work to be completed, factoring in the level of reserves. Statemenl of Trustees. responsibilities The Trustees a sponsible for prepariThJ the Trustees. Report and Ihe financial statements in accordance with appli(2ble law and United Kingdom Accounting Slandards {United Kingdom Generally A¢¢epled A¢¢ounling Practice). The law applicable to charities in England & Wales reqLbires the Trustees to prepare financial statements for each financial which give a tnje and fair view of the slate of affairs of the company and of ils incoming resources and application of resources, induding its incrm)e and expendituie. for that period. In preparing these financial ststement5. the Tfustees are required to.. select suitsble accounting pdicies and then appty them consislenUy- observe the meth¢)Js and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reawnable ar)d prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial slalement5- prepare the financial stalements on the going conrn bags unless Il is inappropriate to presume that the company will conbnue in bUness. Page 3
ST PETER MANCROFT MISSION HALL TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Statement of Trustees. re$ponslbllltl•$ {CONTINUEDI The Trustees are ponble for keeping adequate accounting records Ihal are gjfficient to show and explain the company's transactions and disdose wth reasonable accuracy al any lime the financial position of the Company and enable them to ensure that the financial statements comply wth the Charities Act 2011, the Charity (Accounts and Rew)rtsl Regulations 2008 and the provisons of the Trust deed. They are also sponsible for safeguarding the assets ol the cnmpany and hen for taking reasonable steps for the prevention and detection of fral and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by: The Revd Canon E Carter Trustee Date: Page 4
ST PETER MANCROFT MISSION HALL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Ind•p¢ndent Examinerfs Report to the Trustees of St Petef Mancroft Mission Hall Trust {Ihe company'} I report to the charity Trustees on my examination of the accounts of the eijmpany for the year ended 31 December 2021. Responsibilltiès and Bas1$ ot Report As the Trustees of the company you are responsble for Ihe preparation of the accounts in accordance wlh the requirements of the Charilies Act 2011 Ilhe 2011 Acl'l. I report in respect of my examination of the mpan5 a¢InIS carried out under section 145 of the 2011 Act and in carrying out my examination I have fdlo*Ed the applicable Directions given by the Charity Commisson under section 14515llbl of the 2011 Act. Independent Examlnerfs Statement Your attention is drawn to the fact that the company has ppad the accounts in accordance wth Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wth the Finan(Jal RepKJrting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities." Slalement of Recommended Practice issued on 1 April 2005 lch is referred to in the extant regulats.ons bul has been wlhdravm. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance wlh the Generally Accepled Accounting Practice effecb.ve for repx)rting perityjs Lwinning on or after 1 January 2015. I have completed my examination. I confimi thal no matters have come to my attention in connection with the examination giving me Cause lo believe that in any ffl8lerial respect.. ac¢ounting records were not kept kn $ct of the f>)mpany as required by section 130 of the 2011 Act; or the accounts do not accord Mth those rec$., or the accounts do not comply wth the applicable requiremenls concerning the fomi and content of accounts set out in the Charities IAccounts and Rerx)rtsl Regulations 2008 other than any requiremenl that the accounts give a Irue and fairf view vknich is not a matter u)nsidered as part of an independent examination. I have no concems and have come acro&8 rrt) other matters in connection wth the examination to which attention should be drawn in this report in order to enable a proper understanding of the acwunts to be reached. Th1s rew)rt Is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts anij Reports) Regulations 2008. My work has been undertaken so that I might state to the companys Trustees those rnatters l am Tequired to state lo them in an Independent Examinerfs ReF>Drt and for no other purpose. To the fullest extent permitted by law. I do not accept or assume respM)nsbility to anyone other than the company and the company's Trustee5 a5 a body. for my NK)rk or for this report. Signed.. Dated.. Giles Kerkham FCA DChA Larking Gowen Chartered Accountants Norwch. NR3 1R8 Page 5
ST PETER MANeRO MISSION HALL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestricted funds 2021 Total funds 2021 Total funds 2020 Note Income frorn: Donations Property 2,010 67.670 2,010 67,670 1,884 32,415 Total income 69.680 69,680 34,299 Expenditure on: Charitable activitiÈs'. Grants Independent examinerfs fees Other charltable activitses 62,713 1.122 2.034 62,713 1.122 2.034 32,415 894 990 Total expenditu 65.869 65.869 34,299 Nel movement in funds 3.811 3.811 Reconciliation of funds: Total funds brought forward as restated Net movement in funds 761.000 3.811 761.000 3.811 761,000 Total fund$ Carried forward 764.811 764.811 T61,000 The Statement of Financial Activities includes all gains and lo&ses re¢3n1Sed in the year. The notes on pages 8 to 11 fomi part of these financial stalements. Page 6
ST PETER MANCROFf MISSION HALL TRUST BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Fixed assets Tangible assets 761,000 761,000 761,000 761.000 Current assets DeL)lors Cash at bank and in hand 894 5,933 Credrtors- amounts falling due within one year (2,1221 (894) Net current assets 3,811 Total assets less current liabilities 764.811 761,000 Total net assets 764,811 767,000 Charity funds Unrestricted fund5 764.811 767.000 Total funds 764,811 761,000 The financial ststemenls were approved and authorised for issue by the Trustees and signed on their behalf by.. The Ravd Canon E Cartèr Trustee Dale.. The notes on pages 8 to 11 fom) part of these financial ststements. Page 7
ST PETER MANcR0 MISSION HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ¢¢untlng policies 1.1 Basis of preparation of financial ststements The financial slalements have been prepared in a¢¢ordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Sialement of Rewmmended Practi applicable to Gharilies preparing their accounts ln accordan wth the Finanoal Reporting Standard applicable in the UK ané Reput1¢ of Ireland IFRS 1021 (effective l January 20151. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. St Peter Mancroft Mission Hall Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially rec(MJnised at historical cost or transaction value unless olhewse stated in the relevant accounting policy. 1.2 Income l income is recognised once the Trust has entitlemenl to the income. it is prObae that the income will be rttved and Ihe amount of income receivable can be measured reliably. 1.3 Expenditure Expenditure is recognised once the is a legal or constructive obligation to transfer economic benef1t to a third party. it is probable that a trdnsfer of e¢onomi¢ benefits wll be required in settlement and the amount of the obligation can be measured reliaL4y. Expenditure on charitable a¢tivib"es 15 Incurred on directly undertaking the activities lch further the Trust's objectives, as well as any asyxialed support costs. Grants payable are Charged in the year vknen the offer is made eXpt in those cases Whe the offer is condilional. such gran15 being recognised as expenditure vthen the conditions atlaching a fulfilled. Grants offered su¥ect lo conditions which have not been met al the year e[ are noted as a commitm8nt. but not accwed as expenditure. Page 8
ST PETER MANCROFT MISSION HALL TRUST NOTES TO THE FINANCtAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ounting policies (continued) 1.4 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost le&8 accumulated depreciation and any accumulated impairment losses. AJI costs incurred to bring a tsngible fixed asset into its intended working coNJition should be included in the measurement of cosL DeplatiOn is charged so as to allocale the cosi of tsngible fixed assets less their regdual value over their estimaled useful live& ugng the straight-line method. 1.5 Debtors Trade and other debtors are recognised al the settlement amount after any trade disojunl offered. Prepayments are valued al the amount prepaid nel of any trade dIunts due. 1.6 Cash at bank and in hand Cash at bank and in hand includes cash and 5hort-term highly liquid investments with a short maturity of three months or les5 from the date of acqui&tion or opening of the depo&t or similar account. 1.7 Fund accounting General funds are urFre5tn"cted funds vthich are available for use at the dIsCtion of the Trustees in furtherance of the general objectives of the Trust and %thi¢h have not been designated for other purwses. Incomo from donations Unre$trl¢ted fund$ 2021 Total fund$ 2021 Total funds 2020 Donations from the Church of Sl. Peter Manrmft 2,010 2,010 1,884 l income from donats.ons was unrestricted in 2020. Investmont income Unrestricted funds 2021 Total funds 2021 Total funds 2020 Rents, Licence and hiring fees 67,670 67,670 32,415 Page 9
ST PETER MANCROFT MISSION HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Invostm•nt income (continued) All investment income was unrestricted in 2020. Analysis of grants Total fund$ 2021 Total funds 2020 Grants 2021 St Peter Mancroft PCC 62.713 62,713 32,415 Independent examlnerfs remunerntion The indendent exsminerfs remuneration amounls to an independent examiner fee of £1.122 12020- £8941. Trustees. romunoration and •xpon$e$ During the year, Truslees recwved any remuneralion or other benefits (2020- £NIL}. During the year ended 31 December 2021. no Trustee expenses have been incurred (2020- £NILJ. Tangible fixed assets Freehold property Cost or valuation At 1 January 2021 761,000 At 31 Dernber 2021 761,000 Ng1 b¢)ok valug At 31 December 2021 761,000 At 31 December 2020 767.000 Page 10
ST PETER MANCROFT MISSION HALL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Tangible fix*d assets {continugdl As the Trustees frequently vary, particularly the Churchwardens, the freehold property is vested in a sel of Holding Trustees lo provide continuity. They are drawn primarily from the congregation of St. Peter Mancroft Church. Currently they are Geoffrey L(des. Zara P. Hammond, Paul R.King and Cdin l. Pordham. The freehold pmperty is used partly t0rS the charity's objectives (functional propety} and partly to generate extemal income (investment property). In the view of the Trustees, the fair value ol the investment property element cannot be measured reliably without undue cost or effort and therefore the entire propety is aecounled for as a furKtional property wthin Tangible Fixed Assets. The propety is carried at a deemed cosl being its carrying value in the accounts at the FRS 102 transition dale of 11112015. Thal carrying value reflected an open market valuation effeclive at that date. No depCiatIon has been charged. reflecting the trustees. assessment that In the unlikely event of 8 disposal, proceeds would exceed the a¢cLKJnts carying value. Debtor 2021 2020 Due within one yèar Grant debtor (note 101 894 894 Creditors: Amounts falling due within one year 2021 2020 Other creditors Accruals and deferred inc(me 1.000 1,122 894 2,122 894 10. Related party transactions The a¢¢ountancy and examination fee of £894 in the prior year12019.. £7021 was committed lo be paid by Sl Peter Mancroft PCC Inole 8 debtorsl. The Charity has taken on respDn&bility for the examiners fee for 2021 and as such there is no debtor at 31 December 2021. Page 11