Charity Number
279817
Letton Hall Trust
Trustees’ Report and Financial Statements 31[st] December 2022
Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2022
The trustees, present their report and accounts for the year ended 31[st] December 2022. 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 AddressLetton 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 2022
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 2022
Achievements and Performance
Review of the Period
The Trust has continued to improve the standard of decoration throughout the buildings, but particularly in the Stables where all the bathrooms have new floor coverings and have been redecorated.
Funds were found for the repair work on the Library flat roof. This work has been completed to a very high standard by the same local company that completed the sky light refurbishment.
The Trust was unsuccessful in its bid to the National Heritage Memorial Fund. The roof over the Main Hall remains a high concern maintenance issue.
The Norfolk Wing has continued to attract additional income from AirBnB bookings.
The Trust has continued, and increased, its promotion of day conferencing, afternoon teas and other events. The events have gained a loyal local following and the Trust look forward to growing these community activities.
The Trust is still waiting for the Charity Commission to finalise the transfer of the Trust to a CIO.
This year has been characterised by rapidly rising costs and reducing numbers of guests.
Financial Review
The deficit of £103,352 (2021 surplus £13,079) 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 2022 the Trust had funds totaling £634,953 (2021: £738,305), of which £634,953 are unrestricted funds (2021: £676,340). £396,093 (2021: £358,790) has been raised during the year and £499,445 (2021: £345,711) 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 2022, there were unrestricted undesignated free reserves of £27,602 after taking account of fixed assets net of loans falling due after more than one year (2021: £62,162).
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 Trustees and staff will continue to explore new income streams. The Trust believes that offering the venue midweek for Funeral Wakes is a possible new income stream. Letton Hall is very close to a busy Crematorium.
The Trust is also exploring the possibility of opening a Cafe in what is currently the Stables meeting room.
We look forward to completing the transfer to a Charitable Incorporated Organisation in the very near future.
Funding will continue to be sought for the refurbishment of the Main Hall roof.
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2022
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: 28[th] August 2023
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2022
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 2022, 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: 29[th] August 2023
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2022
Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31[st] December 2022
| Notes £ Income and endowments from: Donations and legacies 3 46,012 Charitable activities 4 269,765 Other trading activities 5 2,911 Total 318,688 Expenditure on: Raising funds 6 1,982 Charitable activities 7 352,704 Other 8 - Total 354,686 (35,998) Transfers between funds (5,389) Net movement in funds (41,387) Reconciliation of Funds Total funds brought forward 676,340 Total funds carried forward 634,953 Net income/(expenditure) Unrestricted funds |
£ 77,405 - - 77,405 - 114,759 30,000 144,759 (67,354) 5,389 (61,965) 61,965 - Restricted funds |
£ £ 123,417 218,923 269,765 139,336 2,911 531 396,093 358,790 1,982 526 467,463 345,185 30,000 - 499,445 345,711 (103,352) 13,079 - - (103,352) 13,079 738,305 725,226 634,953 738,305 Total funds 2022 Total funds 2021 |
|---|---|---|
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 2022
Balance Sheet As at 31[st] December 2022
| Notes £ Fixed Assets Tangible assets 12 Total fixed assets Current assets Stocks 6,270 Debtors 13 17,882 Cash at bank and in hand 105,662 Total current assets 129,814 Current Liabilities Creditors: Amounts falling due within one year 14 102,212 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 15 Net assets The funds of the charity Restricted income funds 17 Unrestricted income funds 18 Total charity funds |
£ £ £ 1,273,159 1,312,847 1,273,159 1,312,847 5,800 51,544 174,993 232,337 108,210 27,602 124,127 1,300,761 1,436,974 (665,808) (698,669) 634,953 738,305 - 61,965 634,953 676,340 634,953 738,305 2021 2022 |
|---|---|
The financial statements were approved by the trustees, authorised for issue and are signed on their behalf by:
Steve Rayner
Date: 28[th] August 2023
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 2022
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 2022
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:
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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
| 4 Income and endowments from: Charitable activities 5 Income and endowments from: Other trading activities 6 Expenditure on: Raising funds £ £ Other donations and grants 46,012 77,405 Restricted funds Unrestricted funds £ £ Fees received 252,732 - Biomass rebate 17,033 - Total 269,765 - Unrestricted funds Restricted funds £ £ Shop income 2,911 - Unrestricted funds Restricted funds £ £ Shop costs 1,982 - Unrestricted funds Restricted funds |
£ £ 123,417 218,923 Total funds 2022 Total funds 2021 £ £ 252,732 122,924 17,033 16,412 269,765 139,336 Total funds 2022 Total funds 2021 £ £ 2,911 531 Total funds 2022 Total funds 2021 £ £ 1,982 526 Total funds 2022 Total funds 2021 |
|---|---|
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2022
Notes to the accounts (Continued)
7 Expenditure on: Charitable activities
| 8 Expenditure on: Other £ Staff costs 159,451 Housekeeping 10,309 Catering 14,332 Events and activities 2,027 Insurance and rates 20,886 Light and heat 43,853 Repairs and maintenance 22,259 Telephone 2,566 Printing, postage and stationery 4,325 Depreciation 39,688 Independent Examiner's fees 2,450 Professional fees 4,533 Bank charges and interest 669 Mortgage charges and interest 25,356 Total 352,704 Unrestricted funds £ Grant repaid - Unrestricted funds |
£ 2,002 - - - - - 91,142 - - - - 21,615 - - 114,759 Restricted funds £ 30,000 Restricted funds |
£ £ 161,453 96,189 10,309 5,020 14,332 5,493 2,027 2,512 20,886 15,573 43,853 31,259 113,401 115,088 2,566 2,137 4,325 4,408 39,688 42,344 2,450 2,375 26,148 4,312 669 445 25,356 18,030 467,463 345,185 Total funds 2022 Total funds 2021 £ £ 30,000 - 2022 2021 |
|---|---|---|
9 Employee information
No employee received emoluments in excess of £60,000 during the year (2021: nil). Employee costs during the period were as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 154,451 | 90,976 |
| Social security costs | 3,387 | 1,921 |
| Other pension costs | 3,615 | 3,292 |
| 161,453 | 96,189 | |
| The number of people employed during the period was as follows: | ||
| 2022 | 2021 | |
| £ | £ | |
| Conference centre staff | 25 | 9 |
10 Trustee information
No trustee received remuneration (2021: none) or was reimbursed expenses (2021: nil) during the year.
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2022
Notes to the accounts (Continued)
11 Comparatives for the Statement of Financial Activities
| 12 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 2022 At 31 December 2022 p At 1 January 2022 Charge for the year At 31 December 2022 At 31 December 2022 At 31 December 2021 |
£ 46,005 139,336 531 185,872 526 188,044 188,570 (2,698) (2,698) Unrestricted funds £ 1,341,210 1,341,210 230,183 10,978 241,161 1,100,049 1,111,027 Freehold property at valuation |
£ £ 172,918 218,923 - 139,336 - 531 172,918 358,790 - 526 157,141 345,185 157,141 345,711 15,777 13,079 15,777 13,079 Restricted funds Total funds 2021 £ £ £ 381,446 41,337 1,763,993 381,446 41,337 1,763,993 186,218 34,745 451,146 27,858 852 39,688 214,076 35,597 490,834 167,370 5,740 1,273,159 195,228 6,592 1,312,847 Equipment Household equipment Total |
|---|---|---|
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2022
Notes to the accounts (Continued)
12 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 |
£ £ 1,100,049 1,111,027 1,264,729 1,264,729 (195,893) (185,612) 1,068,836 1,079,117 2022 2021 |
|---|---|
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.
13 Debtors
| Fees due Accrued income Prepayments |
£ £ 9,207 3,890 - 39,700 8,675 7,954 17,882 51,544 2022 2021 |
|---|---|
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.
14 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 |
£ £ 63,216 58,971 9,225 15,450 1,529 1,000 797 3,665 20,047 23,044 7,398 6,080 102,212 108,210 2022 2021 £ £ 665,808 698,669 665,808 698,669 2022 2021 |
|---|---|
15 Creditors: Amounts falling due after more than one year
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Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2022
Notes to the accounts (Continued)
16 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 £3,615 (2021: £3,292).
17 Restricted income funds
| Unrestricted income funds National Heritage Fund Garfield Weston Glamping Fund AHF Cultural Recovery Fund Renovation and Resilience Fund General funds |
Balance at 1 Jan 2022 £ - 30,000 15,225 16,740 |
Income £ 70,700 - - 6,705 |
Expenditure £ (70,700) (30,000) (11,060) (32,999) |
Transfers Balance at 31 Dec 2022 £ £ - - - - (4,165) - 9,554 - |
|---|---|---|---|---|
| 61,965 | 77,405 | (144,759) | 5,389 - |
|
| Balance at 1 Jan 2022 £ 676,340 |
Income £ 318,688 |
Expenditure £ (354,686) |
Transfers Balance at 31 Dec 2022 £ £ (5,389) 634,953 |
18 Unrestricted income funds
19 Analysis of net assets between funds
| Restricted funds Current assets Unrestricted funds Fixed assets Current assets Long term liabilities |
- 1,273,159 27,602 (665,808) |
£ £ - 61,965 1,312,847 62,162 634,953 (698,669) 634,953 738,305 2022 2021 |
|---|---|---|
20 Related Parties
The charity did not have any related party transactions in the current or previous years.
21 Controlling Parties
The charity is controlled by the trustees
22 Other Information
The charity is an unincorporated trust with its registered office at Letton Hall, Shipdham, Thetford, Norfolk, IP25 7SA.
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