2025-03-31-accounts - The Avenue Trust

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Charity number 281404R

The Avenue Trust

Accounts

for the year ended

31 March 2025

The Avenue Trust Report and accounts Contents

	Page
Charity information	2
Report of the Trustees	3
Independent examiners' report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8
Detailed statement of financial activities	10

The Avenue Trust Charity Information

Trustees

Glen Johnson – Chair Jacqueline Dickenson Jonathan Crowe Carol Eastwick Melvin Pool

Principal officers

Mrs M Rigby - Treasurer

Registered charity number

281404R

Principal office

39 The Broadway Southend on Sea Essex SS1 3HG

Accountants

Estuary Accountancy Services 42 North Street Great Wakering Southend on Sea Essex SS3 0EL

Investment managers

Rathbone Investment Managers Limited 1 Curzon Street London W1J 5FB

Bankers

HSBC Bank plc 60 Fenchurch Street London EC3M 4BA

Solicitors

Beecham Fisher Ridley 26 Clifftown Road Southend on Sea Essex SS1 1AH

The Avenue Trust Report of the Trustees

The trustees present their report and the financial statements for the year ended 31 March 2025.

OBJECTIVES AND ACTIVITIES

Purposes of the charity

To provide accommodation for the potentially homeless, vulnerable adults and those with learning disabilities.

To give support to the work of Avenue Baptist Church to which the Trust is closely associated.

To financially support other Christian organisations based within the geographical area of the Trust.

Main activities, achievements and performance

This is the first report from the new board of trustees who took up post at the beginning of the financial year. A lot of time and effort has been applied to ensure that the trusts governance and through the necessary statutory policies has been updated and brought into line with current CC requirements.

Financially, the year ended in a financial surplus, however the value of the investment fund was impacted at the end of the year but the sudden change in US trade policy and the short-term effect it had on global stock markets at the time.

The remaining house owned by the Trust and managed by a local Agent continues to benefit 4 vulnerable people and is kept in good repair. During the year our longest serving tenancy ended, health concerns requiring more supervised accommodation, the void was quickly filled, and the trustees were delighted to be able to support the new tenant in many ways.

The grant to the Avenue Baptist Mission Fund has meant provision for various new and ongoing projects in the Community; CAP received a further payment to continue the good and vital work they do in the town. The Trustees have also initiated new routes of communication to invite more grant application in the future.

The trustees wish to register their appreciation to Mary Rigby who is stepping down as finance manager after many years of loyal service and look forward to a resumption in their grant making activities in the coming financial year,

The trustees have ensured that the charity's activities are carried out in accordance with the Charity Commission's guidance on public benefit.

FINANCIAL POSITION

The attached financial statements show the current state of the finances which the trustees consider to be sound.

At the balance sheet date the charity had total funds of £1,242,976 (2024 £1,256,602), all of which were unrestricted. Of that total, £19,298 (2023 £59,401) was held in a bank account.

The Avenue Trust Report of the Trustees

STATEMENT OF TRUSTEES'/DIRECTORS' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
● observe the methods and principles in the Charity SORP; ● make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue its operations.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts 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 on 28 January 2026 by

____ Glen Johnson - Chair

The Avenue Trust Independent Examiner's Report for the year ended 31 March 2025

I report on the accounts of The Avenue Trust for the year ended 31 March 2025, which are attached.

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.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

examine the accounts under section 145 of the 2011 Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 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 the 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 statements 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 2011 Act; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice; Accounting and Reporting by Charities;

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.

Signed:________

Name: STEPHEN JAMES FARROW Relevant professional qualification or body: FMAAT

Address: Estuary Accountancy Services Ltd 42 North Street Great Wakering Essex SS3 0EL

Date: 27 January 2026

The Avenue Trust

Statement of Financial Activities for the year ended 31 March 2025

Notes Income and endowments from: Donations and legacies Charitable activities Investments Expenditure on: Charitable activities Gains/(losses) on revaluation of investments Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	2025 £ 300 22,315 21,667 44,282 41,984 41,984 (15,924) (13,626) 1,256,602 1,242,976	2024 £ 300 25,096 15,429
		40,825
		96,224
		96,224 (28,298)
		(83,697) 1,340,299
		1,256,602

The Avenue Trust Balance Sheet as at 31 March 2025

Notes 2025 £ Fixed assets Tangible assets 2 500,000 Investments 3 722,783 1,222,783 Current assets Debtors 5 1,064 Cash at bank and in hand 19,419 20,483 Creditors: amounts falling due within one year 6 (290) Net current assets 20,193 Net assets 1,242,976 Trust funds 7 Unrestricted At 1 April 2024 1,256,602 Surplus/(Deficit) for year 2,298 Revaluation of investments (15,924) At 31 March 2025 1,242,976 Signed on behalf of the Trustees on _____:	1,003 59,501	2024 £ 500,000 696,377

		1,256,602
		1,340,299 (55,399) (28,298)
		1,256,602

Chair

Treasurer

The Avenue Trust Notes to the Accounts for the year ended 31 March 2025

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and in accordance with applicable accounting standards and the Charities SORP.

Rent receivable

Rent receivable represents the gross rental income received in the year.

Grants payable

Grants payable represent the amounts paid at the discretion of the trustees in accordance wth the Trust Deed of the charity. All grants are disclosed in Note 4 to the accounts.

Investment properties

Investment properties are shown in the Balance Sheet at current market value.

Tangible fixed assets

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Motor vehicles 25% reducing balance

Investments

Investments are capitalised in the Balance Sheet at market value. Profits or losses arising from the disposal of investments are treated as part of the result from ordinary activities.

2 Tangible fixed assets

Cost or valuation At 1 April 2024 At 31 March 2025 Depreciation At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Freehold property £ 500,000
	500,000

	-
	500,000
	500,000

Fixed Assets are used for charitable purposes and are shown at cost after deducting any grants obtained.

The Avenue Trust

Notes to the Accounts

for the year ended 31 March 2025

3 Investments

Valuation At 1 April 2024 Additions Revaluation At 31 March 2025 Net book value At 31 March 2025 At 1 April 2024 4 Grants payable The following grants were paid in the year: Avenue Baptist Church CAP Debt Advice Service Fire and Iron Productions 5 Debtors Prepayments 6 Creditors: amounts falling due within one year Accruals 7 Funds Accumulated surplus £ Unrestricted At 1 April 2024 937,294 Surplus for the year 2,298 Gains/(losses) on revaluation of investments Gains/(losses) on revaluation of property - At 31 March 2025 939,592	Unlisted investments £ 696,377 42,330 (15,924) 722,783 722,783 696,377 11,000 1,200 1,500 13,700 2025 £ 1,064 2025 £ 290 Revaluation reserve £ 319,308 (15,924) - 303,384	Total £ 696,377 42,330 (15,924)
		722,783
		722,783
		696,377
		2024 £ 1,003
		2024 £ 279
		Total £ 1,256,602 2,298 (15,924) -
		1,242,976

All funds are unrestricted. These funds represent funds maintained by the trustees to ensure the smooth running of the charity and to enable the trustees to maintain a steady level of grant support without having to access capital funds.

The Avenue Trust

Detailed Statement of Financial Activities for the year ended 31 March 2025

INCOMING RESOURCES Donations and legacies Rent receivable Income from investments RESOURCES EXPENDED Charitable activities Properties Water rates Rates Light and heat Property management fee Insurance Motor expenses Repairs, maintenance and cleaning General Grants Minibus gifted Bank charges Gifts Governance Accountancy, audit and independent examiner's fees Legal and professional fees Investment management fees	2025 £ 300 22,315 21,667 44,282 939 723 1,123 2,880 1,441 - 11,431 18,537 13,700 - 60 60 13,820 290 - 9,337 9,627 41,984	2024 £ 300 25,096 15,429
		40,825
		836 - 1,817 2,880 1,399 54 11,165
		18,151
		22,200 47,324 62 348
		69,934
		280 1,326 6,533
		8,139

		96,224