2024-12-31-accounts - The Letton Hall Trust

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Charity Number

279817

Letton Hall Trust

Trustees’ Report and Financial Statements 31[st] December 2024

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

The trustees, present their report and accounts for the year ended 31[st] December 2024 . 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 (Resigned 06/02/2024) Mr Andrew Barnard (Resigned 06/02/2024) Centre Managers Jon Horrox Registered Office and Principal Address Letton Hall Shipdham Thetford Norfolk IP25 7SA Bankers National Westminster Bank plc Independent Examiner Adam James MAAT Eric Southwick & Co Accountants 51 The Avenue Seaham Co Durham SR7 8NS

Solicitors Lloyd Jones & Co 8 – 10 Southbourne Grove Westcliffe on Sea Essex SS0 9UR

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

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:

i) The advancement of the Christian faith either in the United Kingdom or overseas ii) The furtherance of religious or secular education
iii) The encouragement of missionary activities designed for the spread of Christian faith
iv) The relief of the poor and needy
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.

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Achievements and Performance

Review of the Period

Letton Hall has enjoyed a busy year in 2024. The Trust has continued to provide Afternoon Teas, Quiz Nights and this year two Murder Mystery evenings to help diversify our income streams. At the end of the year the Trust has secured almost all of the funds required to repair the first floor bathroom roof. We look forward to completing this project in 2025.

The Trust explored several options to help fund a new Cafe venture and also possible funding for the Go Kart track repair work. Unfortunately none of these possibilities have culminated in successful acquisition of funds.

The Trust put out an Appeal for financial help early in this reporting period and received strong support by way of donations. This meant that we were able to continue operating through a lean start to the year. The year's income improved due to strong guest numbers later in the year. The Trust has found new guest groups but equally we have lost some old and faithful returning business this year.

This year has again seen a large increase in operational costs: wages, costs of compliance and supplier’s increases. This has not been matched by an increase in operational income.

Financial Review

The surplus of £10,226 (2023 deficit £28,889) 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 2024 the Trust had funds totaling £616,331 (2023: 606,064), of which £616,331 are unrestricted funds (2023: 606,064). £423,157 (2023: £360,270) has been raised during the year and £412,891 (2023: £389.159) 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 2024, there were unrestricted undesignated free reserves of £70,952 after taking account of fixed assets net of loans falling due after more than one year (2023: £49,592).

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 Trust will continue to research and explore the possibility of opening a Stables Cafe. Funding will need to be found for a new venture of this size. Time has been spent, and will continue to be spent, making first contacts with potential new guest groups. Norfolk and Suffolk schools are a particular target.

The Trust remain determined to work as efficiently and as effectively as possible to ensure the long term sustainability of the Trust.

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Independent Examiner

A resolution to reappoint Eric Southwick of Eric Southwick & Co 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:

select suitable accounting policies and then apply them consistently:
make judgments and estimates that are prudent and reasonable:
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
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.

Signed on behalf of the trustees

Steve Rayner

Date: 27/06/2025

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

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 2024, 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:

examine the accounts under section 145of the 2011 Act;
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the2011 Act; and
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:

(1) which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 130 of the 2011Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

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Adam James MAAT
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Adam James MAAT Eric Southwick & Co Accountants 51 The Avenue Seaham Co Durham SR7 8NS Date: 15/05/2024

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31[st] December 2024

Notes £ Income and endowments from: Donations and legacies 3 32,213 Charitable activities 4 388,698 Other trading activities 5 2,245 Total 423,157 Expenditure on: Raising funds 6 1,783 Charitable activities 7 411,108 Total 412,891 10,266 Transfers between funds - Net movement in funds 10,266 Reconciliation of Funds Total funds brought forward 606,064 Total funds carried forward 616,331 Unrestricted funds Net income/(expenditure)	£ - - - - - - - - - - - Restricted funds	£ 32,213 388,698 2,245 423,157 1,783 411,108 412,891 10,266 - 10,266 606,064 616,331 Total funds 2024	£ 54,035 303,369 2,866 Total funds 2023
			360,270
			2,520 386,639
			389,159
			(28,889) -
			(28,889) 634,953
			606,064

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.

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Balance Sheet As at 31[st] December 2024

The financial statements were approved by the trustees, authorised for issue and are signed on their behalf by:

Steve Rayner Date: 27/06/2025

The notes on pages 8 to 13 form part of these accounts.

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Notes to the accounts

1 Accounting policies

In preparing the accounts the following accounting policies have been complied with:
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.
b) The Trust meets the definition of a public benefit entity under FRS 102
c) Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
d) There are no material uncertainties existing to suggest that the use of the going concern basis is inappropriate.
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.
f) Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
g) Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
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:
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.
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.
iii) Other trading income from the shop is accounted for when earned.
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.
v) Investment income is included when receivable.
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:
i) Costs of generating funds comprise costs associated with attracting voluntary income, including costs of trading for fundraising purposes including the Trust’s shop.
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.
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.
j) All fixed assets are initially recorded at cost, however, the freehold property has been revalued.

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Notes to the accounts (Continued)

1 Accounting policies(Continued)

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
l) Stocks are valued at the lower of cost and net realisable value after due provision for obsolete, defective or out of date stock.
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 £ £ Shop income 2,245 - Unrestricted funds Restricted funds	£ 2,245 Total funds 2024	£ 2,866 Total funds 2023

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Notes to the accounts (Continued)

7 Expenditure on: Charitable activities

	Unrestricted	Restricted	Total funds	Total funds
	funds	funds	2024	2023
	£	£	£	£
Staff costs	182,079		182,079	164,533
Housekeeping	12,477	-	12,477	12,052
Catering	16,423	-	16,423	12,757
Events and activities	6,366	-	6,366	3,772
Insurance and rates	20,194	-	20,194	19,160
Light and heat	48,010	-	48,010	52,816
Repairs and maintenance	23,736		23,736	22,155
Telephone	2,960	-	2,960	2,562
Printing, postage and stationery	3,271	-	3,271	3,301
Depreciation	38,989	-	38,989	39,335
Independent Examiner's fees	2,450	-	2,450	2,450
Professional fees	4,315		4,315	4,328
Bank charges and interest	831	-	831	892
Mortgage charges and interest	49,008	-	49,008	46,525
Total	411,108	-	411,108	386,639

8 Employee information

No employee received emoluments in excess of £60,000 during the year (2023: nil). Employee costs during the period were as follows:

Wages and salaries Social security costs Other pension costs	£ 173,104 4,212 4,763 182,079 2024	£ 157,331 2,920 4,283 2023
		164,533

The number of people employed during the period was as follows:

	2024	2023
	£	£
Conference centre staff	27	26

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Notes to the accounts (Continued)

9 Trustee information

No trustee received remuneration (2023: none) or was reimbursed expenses (2023: nil) during the year.

10 Fixed Assets

Cost or valuation At 1 January 2024 Additions At 31 December 2024 p At 1 January 2024 Charge for the year At 31 December 2024 At 31 December 2024 At 31 December 2023	£ 1,341,210 - 1,341,210 251,786 10,305 262,091 1,079,119 1,089,424 Freehold property at valuation	£ 381,447 - 381,447 241,935 27,859 269,795 111,652 139,512 Equipment	£ £ 41,336 1,763,993 - - 41,336 1,763,993 36,448 530,169 823 38,988 37,271 569,157 4,065 1,194,836 4,888 1,233,824 Household equipment Total

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	£ £ 1,079,119 1,089,424 1,264,729 1,264,729 (215,473) (205,843) 1,049,256 1,058,886 2024 2023

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.

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Notes to the accounts (Continued)

11 Debtors

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.

12 Creditors: Amounts falling due within one year

13 Creditors: Amounts falling due after more than one year Bank loans and overdrafts	£ £ 649,457 677,352 649,457 677,352 2024 2023

14 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 £4,763 (2023: £4,283).

Letton Hall Trust Trustees’ Report and Financial Statements 31[st] December 2024

Notes to the accounts (Continued)

15 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted funds Fixed assets Current assets Long term liabilities	1,194,836 70,952 (649,457)	£ 616,331 616,331 2024	£ 606,064 2023
			606,064

16 Related Parties

The charity did not have any related party transactions in the current or previous years.

17 Controlling Parties

The charity is controlled by the trustees

18 Other Information

The charity is an unincorporated trust with its registered office at Letton Hall, Shipdham, Thetford, Norfolk, IP25 7SA.