Charity Number
279817
Letton Hall Trust
Trustees’ Report and Financial Statements 31[st] December 2020
Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
The trustees, present their report and accounts for the year ended 31[st] December 2020. The accounts comply with the requirements of the Charities Act 2011, the trust deed, Financial Reporting Standard 102 and follow the recommendations in 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).
Reference and Administrative Information
Charity Name Letton Hall Trust Charity Number 279817 Charity Trustees Mrs Ann Rayner (Chair) Mr Steve Rayner Mrs Sarah Hobday Mr Tim Hobday Mrs Alison Barnard Mr Andrew Barnard Centre Managers Jon Horrox Registered Office and Principal Address Letton Hall Shipdham Thetford Norfolk IP25 7SA Bankers National Westminster Bank plc Independent Examiner Eric Southwick BA(Hons) FCA FCIE DChA Eric Southwick & Co Charity Accountants 51 The Avenue Seaham Co Durham SR7 8NS Solicitors Lloyd Jones & Co 8 – 10 Southbourne Grove Westcliffe on Sea Essex SS0 9UR
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Structure and Organisation
Organisation
The organisation is an unincorporated trust, constituted under a trust deed dated 17[th] March 1980 and registered as a charity on 21[st] March 1980. The Trust is managed by the trustees who meet regularly to consider the progress of the Charity and to consider its future direction and activities. The day-to-day operation of the Trust is delegated to the Centre Managers who reports to the Chair of Trustees and is supported by the other members of staff.
Trustee Appointments
The Trust is governed by trustees who are selected from members of the Christian Community, with their wide base of Christian leadership, business and secular experience. The Trust aims to recruit trustees who have the requisite business and sector specific experience to be able to direct and manage the affairs of the Charity.
All trustees are inducted into the policies and procedures of the charity to ensure they are well equipped to fulfil their duties and in particular receive copies of: The Trust Deed of the charity The latest accounts of the charity
And are encouraged to read Charity Commission guidance notes CC3 –“The Essential Trustee – What you need to know”.
Risk Management
The Trustees are aware of the recommendations to examine the major strategic, business and operational risks which the Trust faces. Procedures are in place to comply with statutory requirements such as Health and Safety legislation, for business continuity events and for the effective management of our staff and buildings.
Objectives and Activities
Charitable Objects
The objects of the Trust are:
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i) The advancement of the Christian faith either in the United Kingdom or overseas ii) The furtherance of religious or secular education
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iii) The encouragement of missionary activities designed for the spread of Christian faith
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iv) The relief of the poor and needy
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v) The help and comfort of the sick and aged
The objectives of the Trust are achieved by way of a Christian Conference Centre, where young and old can come together and meet with Jesus Christ. The trust offers economically priced “catered for” and “self-catering” accommodation.
The Trustees are grateful for the continued efforts, assistance and support of our growing volunteer team which contributes to the success of Letton Hall Trust.
Public Benefit
The Trustees confirm that they have had due regard to the Charity Commission guidance on public benefit.
The Trustees believe that the Trust’s objectives were set with the advancement of religion for public benefit in mind, and are actually achieved through the careful management of Letton Hall as a Christian Activity and Conference Centre. Specific public benefits include:-
Employment of local people and the involvement of local people on a voluntary basis in the maintenance of the property and the activities and ministry of Letton Hall. This includes youth teams gaining experience in Go-karting, archery, orienteering as team building activities in a safe residential environment.
The maintenance and beneficial utilisation of a previously poorly maintained and underutilised Grade II listed building.
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Achievements and Performance
Review of the Period
During 2020 in-line with the rest of the country, Letton Hall went into lock-down. The Trust took advantage of the Government Salary Support Scheme, furloughing all staff except the Centre Manager and the assistant Manager who remained resident on-site for security and building integrity. The Trustees made the decision to top-up the salary shortfall to 100% for the furloughed staff.
Faced with no operational income all non-essential expenditure was stopped, although works to the Drawing room decoration and the emergency lighting were completed, as funds had been ring-fenced for these projects. Ring fenced funds allowed the window refurbishment project to continue throughout the year.
During this period the National Lottery Heritage Funding was used to complete: a full condition survey and Heritage Preservation Plan, Architectural Feasibility Study, Costing for the Feasibility Study, Business Plan and Marketing Study.
The Trust continued to work with Ingham and Pinnock Associates to secure funding from grant making bodies and a Just Giving fund-raising page successfully raised over £50,000, to help support staff salaries and essential maintenance.
By October it was clear that the operating restrictions for the hospitality industry would not be lifted before the end of the year, the Trustees therefore had to make the difficult decision to make six members of cleaning and maintenance staff redundant.
Financial Review
The deficit of £60,434 (2020 deficit £85,731) was after taking into account another year of significant one-off maintenance projects which included further windows renovation work. Donations included some grants towards facility improvements. The trustees recognise that future projects are dependent upon additional funding.
At 31[st] December 2020 the Trust had funds totaling £725,226 (2019: £785,660, of which £679,038 are unrestricted funds (2019: £760,660). £273,547 (2019: £345,643) has been raised during the year and £333,981 (2019: £431,374) has been expended as detailed in the notes to the accounts.
Reserves Policy
It is the policy of the Trustees to:
Retain sufficient free reserves to support the costs of running Letton Hall including governance for a three-month period.
In the longer term, the Trustees aim to build up sufficient reserves to fund the cost of maintaining and developing the property, land and facilities.
At 31[st] December 2020, there were unrestricted undesignated free reserves of £69,254 after taking account of fixed assets net of loans falling due after more than one year (2019: £87,716).
Principal Funding Source
The principal funding source is from the fees charged to the groups and individuals who attend the Conference Centre.
Plans for the Future
The window refurbishment project will continue to completion. Work will continue with Ingham and Pinnock to secure funding to further develop plans and projects for a “Resilient Future”. As part of this the Trust will seek to develop additional income streams.
The Trust plans to establish a self-contained holiday letting facility in The Norfolk Wing, seek planning permission for four Glamping units in the Orchard Field and will investigate the purchase of large Teepees to allow for sufficient meeting space for a whole site group, in excess of 120 guests.
The Trust looks forward to the lifting of restrictions to allow the hospitality industry to go back to work.
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Plans for the Future (Continued)
The Trustees are forming a Charitable Incorporated Organisation and will register it with the Charity Commission. The assets, liabilities and operations of the Trust will be transferred into the Charitable Incorporated Organisation to assist in securing the long term future of the work of the Trust.
Independent Examiner
A resolution to reappoint Eric Southwick of Eric Southwick & Co Charity Accountants will be proposed at the Annual General Meeting.
Responsibilities of the Trustees
Charity law requires the trustees to prepare financial statements for each financial period, which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently:
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make judgments and estimates that are prudent and reasonable:
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in existence.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Signed on behalf of the trustees
Steve Rayner
Date: 20[th] October 2021
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Independent Examiner’s Report to the Members of Letton Hall Trust
I report on the accounts of the charity for the year ended 31[st] December 2020, which are set out on pages 6 to 13.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s 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.
It is my responsibility to:
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examine the accounts under section 145of 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 the2011 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 any 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:
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(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 130 of the 2011Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Eric Southwick BA(Hons) FCA FCIE DChA Eric Southwick & Co Charity Accountants 51 The Avenue Seaham Co Durham SR7 8NS Date: 20[th] October 2021
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Trustees’ Report and Financial Statements 31[st] December 2020
Letton Hall Trust
Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31[st] December 2020
| Notes £ Income and endowments from: Donations and legacies 73,490 Charitable activities 3 97,627 Other trading activities 4 1,021 Other incoming resources 5 39,855 Total 211,993 Expenditure on: Raising funds 6 1,380 Charitable activities 7 298,235 Total 299,615 (87,622) Transfers between funds 6,000 Net movement in funds (81,622) Reconciliation of Funds Total funds brought forward 760,660 Total funds carried forward 679,038 Unrestricted funds Net income/(expenditure) |
£ 61,554 - - - 61,554 - 34,366 34,366 27,188 (6,000) 21,188 25,000 46,188 Restricted funds |
£ £ 135,044 49,412 97,627 292,834 1,021 3,397 39,855 - 273,547 345,643 1,380 6,279 332,601 425,095 333,981 431,374 (60,434) (85,731) - - (60,434) (85,731) 785,660 871,391 725,226 785,660 Total funds 2020 Total funds 2019 |
|---|---|---|
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 8 to 13 form part of these accounts.
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Balance Sheet As at 31[st] December 2020
| Notes £ Fixed Assets Tangible assets 11 Total fixed assets Current assets Stocks 5,690 Debtors 12 7,595 Cash at bank and in hand 199,029 Total current assets 212,314 Current Liabilities Creditors: Amounts falling due within one year 13 96,872 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 14 Net assets The funds of the charity Restricted income funds 16 Unrestricted income funds 17 Total charity funds |
£ £ £ 1,314,504 1,352,024 1,314,504 1,352,024 6,230 21,214 175,591 203,035 90,319 115,442 112,716 1,429,946 1,464,740 (704,720) (679,080) 725,226 785,660 46,188 25,000 679,038 760,660 725,226 785,660 2020 2019 |
|---|---|
The financial statements were approved by the trustees, authorised for issue and are signed on their behalf by:
Steve Rayner
Date: 20[th] October 2021
The notes on pages 8 to 13 form part of these accounts.
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Notes to the accounts
1 Accounting policies
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In preparing the accounts the following accounting policies have been complied with:
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a) The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
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b) The Trust meets the definition of a public benefit entity under FRS 102
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c) Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
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d) There are no material uncertainties existing to suggest that the use of the going concern basis is inappropriate.
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e) Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Trust. Unrestricted funds include a revaluation reserve representing the restatement of freehold property at market value.
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f) Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
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g) Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
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h) All incoming resources are included in the Statement of Financial Activities when the Trust is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
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i) Donations and legacies is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants, where entitlement is conditional on the delivery of a specific performance by the Trust, are recognised when the charity becomes unconditionally entitled to the grant.
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ii) Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
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iii) Other trading income from the shop is accounted for when earned.
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iv) Income and endowments from charitable activities is accounted for when the letting or activity takes place and deposits received during the year in respect of future periods are carried forward as deferred income.
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v) Investment income is included when receivable.
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i) Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
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i) Costs of generating funds comprise costs associated with attracting voluntary income, including costs of trading for fundraising purposes including the Trust’s shop.
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ii) Expenditure on charitable activities comprises those costs incurred by the Trust in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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iii) All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.
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j) All fixed assets are initially recorded at cost, however, the freehold property has been revalued.
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Notes to the accounts (Continued)
1 Accounting policies(Continued)
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k) Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Freehold property / improvements 1%, 5% and 10% straight line Equipment 20% straight line Household equipment 10% straight line
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l) Stocks are valued at the lower of cost and net realisable value after due provision for obsolete, defective or out of date stock.
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m) The Trust operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Trust. The annual contributions payable are charged to the Statement of Financial Activities.
2 Taxation
The charity is exempt from taxation on its income and gains where they are applied for charitable purposes. Irrecoverable VAT is included in the cost of the goods or services on which it was charged.
3 Income and endowments from: Charitable activities
| Income and endowments from: Other trading activities Other incoming resources Expenditure on: Raising funds £ £ Fees received 81,609 - Biomass rebate 16,018 - Total 97,627 - Unrestricted funds Restricted funds £ £ Shop income 1,021 - Unrestricted funds Restricted funds £ £ 39,855 - Coronavirus Job Retention Scheme Unrestricted funds Restricted funds £ £ Shop costs 1,380 - Fundraiser's fees - - Total 1,380 - Unrestricted funds Restricted funds |
£ £ 81,609 270,316 16,018 22,518 97,627 292,834 Total funds 2020 Total funds 2019 £ £ 1,021 3,397 Total funds 2020 Total funds 2019 £ £ 39,855 - Total funds 2020 Total funds 2019 £ £ 1,380 2,199 - 4,080 1,380 6,279 Total funds 2020 Total funds 2019 |
|---|---|
4 Income and endowments from: Other trading activities
5 Other incoming resources
6 Expenditure on: Raising funds
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Notes to the accounts (Continued)
7 Expenditure on: Charitable activities
| £ Staff costs 123,413 Housekeeping 3,479 Catering 6,403 Events and activities 1,045 Insurance and rates 15,662 Light and heat 32,107 Repairs and maintenance 34,734 Telephone 2,230 Printing, postage and stationery 2,047 Depreciation 40,920 Independent Examiner's fees 2,200 Professional fees 16,556 Bank charges and interest 520 Mortgage charges and interest 16,919 Total 298,235 Unrestricted funds |
£ 578 - - - - - 33,788 - - - - - - - 34,366 Restricted funds |
£ £ 123,991 147,163 3,479 13,437 6,403 9,030 1,045 2,130 15,662 17,110 32,107 42,291 68,522 101,439 2,230 1,499 2,047 5,201 40,920 45,780 2,200 2,135 16,556 11,132 520 9,543 16,919 17,205 332,601 425,095 Total funds 2020 Total funds 2019 |
|---|---|---|
8 Employee information
No employee received emoluments in excess of £60,000 during the year (2019: nil). Employee costs during the period were as follows:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 118,625 | 140,885 |
| Social security costs | 1,885 | 2,825 |
| Other pension costs | 3,481 | 3,453 |
| 123,991 | 147,163 | |
| The wages and salaries includes redundancy pay of £1,412. | ||
| The average number of people employed during the period was as follows: | ||
| 2020 | 2019 | |
| £ | £ | |
| Conference centre staff | 14.0 | 8.5 |
The wages and salaries includes redundancy pay of £1,412.
The average number of people employed during the period was as follows:
9 Trustee information No trustee received remuneration (2019: none) or was reimbursed expenses (2019: nil) during the year.
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Notes to the accounts (Continued)
10 Comparatives for the Statement of Financial Activities
| 11 Fixed Assets Income and endowments from: Donations and legacies Charitable activities other trading activities Total Expenditure on: Raising funds Charitable activities Total Net movement in funds Net income/(expenditure) Cost or valuation At 1 January 2020 Additions At 31 December 2020 p At 1 January 2020 Charge for the year At 31 December 2020 At 31 December 2020 At 31 December 2019 |
£ 30,412 292,834 3,397 326,643 6,279 406,095 412,374 (85,731) (85,731) Unrestricted funds £ 1,341,210 - 1,341,210 201,298 15,300 216,598 1,124,612 1,139,912 Freehold property at valuation |
£ £ 19,000 49,412 - 292,834 - 3,397 19,000 345,643 - 6,279 19,000 425,095 19,000 431,374 - (85,731) - (85,731) Restricted funds Total funds 2019 £ £ £ 342,271 36,425 1,719,906 - 3,400 3,400 342,271 39,825 1,723,306 133,279 33,305 367,882 25,068 552 40,920 158,347 33,857 408,802 183,924 5,968 1,314,504 208,992 3,120 1,352,024 Equipment Household equipment Total |
|---|---|---|
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Notes to the accounts (Continued)
11 Fixed Assets (Continued)
In respect of the assets stated at valuations, the comparable historical cost and depreciation values are as follows:
| Net book value of revalued tangible fixed assets Historical cost to date Accumulated depreciation to date |
£ £ 1,124,612 1,139,912 1,264,729 1,264,729 (172,724) (158,121) 1,092,005 1,106,608 2020 2019 |
|---|---|
Included within freehold property is £250,000 relating to land which is not being depreciated.
Freehold property was re-valued on an open market basis by the Trustees on 28 February 2007. The Trustees considered the valuation of the freehold property in 2013. The property is subject to ongoing maintenance and therefore the Trustees consider that the current net book value is not significantly different to the open market value.
12 Debtors
| Fees due Prepayments |
£ £ - 8,367 7,595 12,847 7,595 21,214 2020 2019 |
|---|---|
All debtors are repayable within one year of the balance sheet date.
No provision has been made for Gift Aid in respect of the year, this will be included when received.
13 Creditors: Amounts falling due within one year
| Creditors: Amounts falling due after more than one year Bank loans and overdrafts Trade creditors PAYE and social security VAT Deposits held Accruals Bank loans and overdrafts |
£ £ 60,230 43,878 13,638 11,534 1,759 2,107 3,300 2,109 13,475 27,191 4,470 3,500 96,872 90,319 2020 2019 £ £ 704,720 679,080 704,720 679,080 2020 2019 |
|---|---|
14 Creditors: Amounts falling due after more than one year
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2020
Notes to the accounts (Continued)
15 Pensions
The Trust contributes to a defined contribution stakeholder pension scheme in respect of employees. Contributions made by the Trust during the year amounted to £3,440 (2019: £3,452).
16 Restricted income funds
| Renovation and Resilience Fund | Balance at 1 Jan 2020 £ 25,000 |
Income £ 61,554 |
Expenditure Balance at 31 Dec 2020 £ £ (34,366) 52,188 |
|---|---|---|---|
The Renovation Fund represents income received towards work to renovate Letton Hall.
17 Unrestricted income funds
| Unrestricted income funds | |||||
|---|---|---|---|---|---|
| Analysis of net assets between General funds Restricted funds Current assets Unrestricted funds Fixed assets Current assets Long term liabilities |
funds Balance at 1 Jan 2020 £ 760,660 |
Income £ 211,993 46,188 1,314,504 69,254 (704,720) |
Expenditure Balance at 31 Dec 2020 £ £ (299,615) 673,038 £ £ 46,188 25,000 1,352,024 87,716 679,038 (679,080) 725,226 785,660 2020 2019 |
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18 Analysis of net assets between funds
19 Related Parties
The charity did not have any related party transactions in the current or previous years.
20 Controlling Parties
The charity is controlled by the trustees
21 Other Information
The charity is an unincorporated trust with its registered office at Letton Hall, Shipdham, Thetford, Norfolk, IP25 7SA.
22 Value Added Tax
The Trust is currently in negotiations with HMRC regarding the VAT scheme operated by Trust, it's not anticipated there will be any significant adjustment to the accounts as a result of these negotiations.
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