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2021-03-31-accounts

Earley Charitable Trust

Annual Report 2020 - 2021

Earley Charitable Trust

operating as

Earley Christian Fellowship

Annual Report and Accounts

for the year ended 31 March 2021

Contents

Independent Examiner's Report 2
Legal & Administrative Information 3
Annual Report of Trustees 4
Statement of Financial Activities 7
Balance Sheet 8
Notes to Accounts 9

Registered Charity Number 283068

Page 1 of 22

1-Feb-22

Eanley Charitable Tntst Annual Report 2020- 2021 Independent ExamineVs Report Earley Charitable Trust We have ey2mined the financial statements on pag88 7 to 8 ¥*h￿ have been prepar&4 urthr the accounting policieg set out on page 9. Respective responsibilities of trustees and oxaminer As the chantys trustges you arg responsibig for the preparatK>n of the accounts in aco)rdan&8 wlh the Chariti85 Act 2011 ('the AtVI, and you conswjer that an audit18 requlr&J for this year under Secthin 144 of thè Act and that an Indepand8nt examination need&l. It is our respon¥bilty to-. examine the accounts under ￿ti()n 145 of the Charili88 Ad. to follow the appluble Directions gpmn by the Charity CorNni58ion (under seCt￿n 145(51(b} of thg Act. and to state whether pardGuL3r mattern ha¥e c4JThry to our attenlon. Basis of independent examinerfs report Our 6xamination was carried in accordance with the gener81 I￿reCtIonS g￿n by tha Charity Commi88ion. An examinolion indudes a review of the accounting records kept by th8 chanty and ¢cthpari8on ollhe accounts Presented with thosè records. It also includes con8id8ration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees concErning any Buch matters. Tha procedurns undertaken do rK>t pro￿de al the evidénce that wouhj ba required in an audit, and consequently we do not eypress an opinion on whether the accounts present a'true and fairf wew and the r¢port h Ilmltéd to those matters sét out In thé 8tat•mènt be￿. Independent examlnerfs 8tatement In connectlon exaM1r￿￿￿, M matertel mattarn h•¥e come to our attentknn whlch glve u• Cau￿ to believe that. in any matsrial rewct.. the aC￿unting records were not kryt ¥1 accordance with section 130 of Chgrits$ Ad" or the ￿COUnts dkl accord w￿h ￿ accounting rvLord8: or the accounts did not comply with the applicable requirements concaming the fom and content of accounts set out in th• Charities {Ac¢ounts and Reports) Regulations 2008 other than any requirèment that the accounts give a Irue and fairf ￿eW Wh￿ IB not a matter (￿nSkI￿red 88 part of an independant examIr￿1￿?n. We havg no concems 8fKI have come across no other matters in conngction wth th? ?xamination lo whlch attention should be drawn in thi8 report in order to wbable a proper under8tanding of accounts to be reach￿. F J Wilde FCCA DChA Wamer Wilde Limited 4 Marigold Drive 8i$ley Surrey GU24 9SF Date .' l l-Feb-22 Page 2 of 22

Earley Charitable Trust

Annual Report 2020 - 2021

Legal & Administrative Information

Trustees by Deed David J. Medlock (Chair, founding trustee)
Michael C. Parting
Matthew Steed
Derek Camfield (External trustee)
Church Elders Paul Moorcroft
Michael C. Parting
Peter Cowling
Daniel Towers
Administrators Timothy I. Shuttleworth (Treasurer, Secretary)
Registered Charity Number 283068
Principal address 153 Wokingham Road
Reading
Berkshire
RG6 1LW
Governing Document Deed of Trust dated 29th June 1981
Independent Examiner F J Wilde FCCA DChA
Warner Wilde Limited
Bankers HSBC
26 Broad Street
Reading
RG1 2BU

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1-Feb-22

Earley Charitable Trust

Annual Report 2020 - 2021

Annual Report of Trustees

Trustees

Appointment of Trustees is governed by the Trust deed. Existing Trustees are authorised to appoint new Trustees to fill vacancies arising through resignation or death. They can also appoint additional Trustees.

Investment Powers

The Trust deed empowers the Trustees to make and hold investments using the general funds of the charity. No such investment is currently held.

Eldership

The current individuals continued in post as Elders during this period.

Aims and Organisation

The Trust is established to advance the Christian religion. The church’s policy remains that of pursuing those objectives in an unrestricted manner.

These aims are of benefit to the local community not only in providing a place of local worship but also additional community amenities such as the child and toddlers club and various youth activities.

The trustees have paid due regard to the Charity Commission's guidance on public benefit.

Review of Activities and Achievements

Most of the year in question has taken place in the shadow of the Covid pandemic and this has had a significant impact on the way in which individuals and the church as a whole has been able to function.

Throughout almost the whole period it has not been possible to meet in person at the church hall or in houses for house groups. All groups have been affected whether that is youth groups, Sunday school or one off meetings. There have been no meetings in person of any kind throughout the period.

Like most of churches we have had to adapt to the changing times. At ECF we adopted the media of Zoom to conduct our regular meetings on Sunday and our prayer meeting on Tuesday. The church has invested in the necessary technology as well as provided suitable devices at home for those that did not have them or could not use them. A tremendous job has been done by many to make the continued provision of meetings possible.

On the whole the experience has been extremely successful. The vast majority of the church has come together in this way throughout the year. There was a certain amount of “Zoom fatigue” towards the latter end of the period but most have persevered. In fact for some individuals the Zoom facility has opened up attending meetings which previously they had been unable to attend due to physical restrictions. It has also allowed a number of individuals not based in Reading in the UK and abroad to attend the meetings in situations where no other alternative is available.

The church has adopted a pattern of having set speakers for Sunday morning meetings which is a change from the historical open meetings of the past. A particularly well received change to the format was the invite to individual to “share a 5 minute encouragement” at the start of each meeting. This facilitated the participation of an increased number from within the congregation. A regular slot in the meeting for children has been introduced in the absence of any Sunday school. It has been possible to continue to receive regular outside ministry through Zoom as well.

All of the existing house groups have adapted to Zoom meetings which have proved very successful.

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1-Feb-22

Earley Charitable Trust

Annual Report 2020 - 2021

Numbers have remained fairly consistent throughout the period.

Although the use of Zoom has been a great blessing and enabled the church to continue to function it would be fair to say that the majority miss face to face meetings; particularly singing and worship and are looking forward to meeting again when it becomes possible.

The natural ending of the Toddlers group coincided with the pandemic period and therefore there has not been any need to make changes in this area. We will wait to see if there is a heart to restart the work post pandemic.

The outreach meetings in the Reading and Woodley town centres have also been postponed during the pandemic period; we will be looking to start again as soon as possible. There were no men’s breakfast meetings or Ladies lunch during the year.

The New Life Conference at Quinta was cancelled. Boys Camp and Girls House Party at Rora was also cancelled due to the pandemic.

As we come to the end of March 2021 it looks like the lockdown restrictions will continue into Spring. There is a hope that by the summer it may be possible to meet again face to face. We will review the situation on a regular basis and attempt to get back to normal as soon as possible.

Review of Transactions and Activities

The church continues to be financially dependent on the free will offerings made by church members. This has meant that the finances of the church have not been adversely affected by the Covid pandemic as there is no loss of income derived from activities run by the church.

There are no employed positions in the church.

Overall income decreased from £109,671 to £95,895. This decrease was not particularly alarming and is within the normal range of giving over the past few years.

Total outgoings increased from £83,292 to £123,306 this year. This reflects a significant increase in the level of gifts and donations during this period. Gifts and donations rose from £57,346 to £81,700. This reflects a greater level of hardship and financial difficulty for many through the pandemic period.

Clearly outgoings significantly outnumbered income; however, there were more than sufficient funds in the various church accounts to cover the expenditure.

Other expenses increased during the year as money was spent on the maintenance of buildings and the provision of much needed additional storage for the hall.

Property Developments and Funding

Much needed maintenance and repair work was carried out on the roof of 153 house.

The work to erect a wooden storage unit at the back of the church started last year. The ground has been cleared and a concrete plinth has been laid. Planning approval has been obtained and the structure will be built in the summer.

A new family has been invited to take up residence in 153b. They are a Spanish couple who have been with the church for a number of years. They have two children. They have many exciting plans for outreach and development of 153b. Maintenance and repair work at 153b will take place in the summer before the family move in.

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Earley Charitable Trust

Annual Report 2020 - 2021

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Notes
INCOMING RESOURCES
3
Income from donations and legacies
3a
Income from charitable activities
3b
Investment income
3d
Other income
3e
Total incoming resources
RESOURCES EXPENDED
6
Charitable activities
Grants and donations payable
6,13
Costs of activities for charitable
objectives
6
Charitable support costs
6,9
Governance costs
6
Total resources expended
Net incoming/(outgoing) resources
before transfers
TRANSFERS
Gross transfers between funds
27
Net incoming/(outgoing) resources
after transfers
OTHER RECOGNISED GAINS /
LOSSES
Gains on revaluation of fixed assets for
charity's own use
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
57,127
645
52
-		 Unrestricted
funds
£
57,127
645
52
-		 Restricted
income funds
£
38,071
-
-
-		 Endowment
funds
£
-
-
-
-		 Endowment
funds
£
-
-
-
-		 Total this
Year
£
95,198
645
52
-		 Total last
year
£
106,564
2,839
37
231
57,824 38,071 - 95,895 109,672
46,835
1,857
37,117
600		 34,865
-
2,033
-		 -
-
-
-		 81,700
1,857
39,150
600		 57,346
7,973
17,580
393
86,409 36,898 - 123,306 83,292
(28,584)
(750)		 1,173
750		 -
-		 (27,411)
-		 26,380
-
(29,334)
-		 1,923
-		 -
-		 (27,411)
-		 26,380
-
(29,334)
203,174		 1,923
11,830		 -
-		 (27,411)
215,005		 26,380
188,625
173,840 13,753 - 187,593 215,005

Movements on reserves and all recognised gains and losses are shown above. All of the charity's operations are classed as continuing.

The notes on pages 9 to 22 form part of these accounts.

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Unrestricted Unrestricted Restricted Endowment Total this Totallast
Funds Funds funds Year vear
Notes
f		 L f. t f.
FIXEDASSETS
Tangibleassets 2,t4 119,436 119,436 124,826
Totalftxedassets 119,436 119,436 124,826
CURRENTASSETS
Debtors t9 13,572 1,433 15,005 16,589
Invesunents I7 19,602 18,602 30,549
Cashatbankandin hand 24 23,330 12.320 3s,6s0 43,340
Totalcurrentussets 55,504 13,753 69,257 90,478
CURRENTLIABILITIES
Creditors:amounts fallingduewithin
oneyear 20 (1,100) (1,100) (300)
Netcurrentassets/(iabililies) 173,840 13,753 187,593 215,005
NETASSETS 173,840 13,753 187,593 215,005
rUNDSOFTHE CHARITY
Restricted income funds 27 13,753_ 13,153 I1,830
Unrestricted funds 173,840 t73,840 203,174
Total charityfunds 173,840 13,753 187,593 215,005

Earley Charitable Trust

Annual Report 2020 - 2021

NOTES TO THE ACCOUNTS

1. BASIS OF PREPARATION

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with:

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Going concern

There are no known uncertainties that make the going concern assumption doubtful. These accounts are prepared on a going concern basis.

1.3 Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2.

There has been no change to the accounting policies since last year.

1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period.

1.5 Material prior year errors

No material prior year errors have been identified in the reporting period.

2. ACCOUNTING POLICIES

The following are the accounting policies which have been applied in dealing with material items:-

2.1 Reconciliation with previous generally accepted accounting practice

No adjustments have been made to any accounting policies for FRS 102 treatment.

No adjustments have been made to any fund balances for FRS 102 treatment.

No adjustments have been made to net income / expenditure for FRS 102 treatment.

2.2 Incoming resources

Recognition of income These are included in the Statement of Financial Activities (SOFA) when:

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Earley Charitable Trust

Annual Report 2020 - 2021

Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless
required or permitted by the FRS 102 SORP or FRS 102.
Grants and donations Grants and donations are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS 102 SORP).
Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been
grant of probate, the executors have established that there are sufficient assets in the estate
and any conditions attached to the legacy are either within the control of the body or have
been met.
Government grants The charity has received no government grants in the reporting period.
Tax reclaims on Gift Aid receivable is included in income when there is a valid declaration from the
donations and gifts donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift
and treated as an addition to the same fund as the initial donation or to general funds as
agreed by the donor or specified in the terms of the appeal.
Donated goods Donated goods are measured at fair value (the amount for which the asset could be
exchanged) unless impractical to do so.
Goods donated for ongoing use by the charity are recognised as tangible fixed assets and
included in the SOFA as incoming resources when receivable.
Gifts in kind for use by the charity are included in the SOFA as income from donations
when receivable.
Donated services and Donated services and facilities are included in the SOFA when received at the value of
facilities the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income
with an equivalent amount recognised as an expense under the appropriate heading in the
SOFA.
Support costs The charity has incurred expenditure on support costs.
Volunteer help The value of any voluntary help received is not included in the accounts but is described
in the trustees' annual report.
Income from interest, This is included in the accounts when receipt is probable and the amount receivable can
royalties and dividends be measured reliably.
Settlement of insurance Insurance claims are only included in the SOFA when the general income
claims recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an
item of other income in the SOFA.

2.3 Expenditure and Liabilities

Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance and support Support costs have been allocated between governance costs and other support. costs Governance costs comprise all costs involving public accountability of the charity and its

Page 10 of 22

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Earley Charitable Trust

Annual Report 2020 - 2021

compliance with regulation and good practice.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Grants payable without Where there are no conditions attaching to the grant that enables the donor performance conditions charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised. Deferred income No material item of deferred income has been included in the accounts. Creditors The charity has creditors which are measured at settlement amounts less any trade discounts. Basic financial The charity accounts for basic financial instruments on initial recognition as per paragraph instruments 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.

2.4 Assets

Tangible fixed assets for These are capitalised if they can be used for more than one year, and cost at least £250. use by the charity

They are valued at cost.

The depreciation rates and methods used are disclosed in note 14. Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

3. Analysis of income

a) Donations and legacies

Donations and gifts
Gift Aid
Legacies
Donated goods, facilities and services
Total		 Unrestricted
£
Restricted
£
Total funds
£
Prior year
£
46,718
34,138
80,857
90,987
10,409
1,433
11,841
14,678
-
2,500
2,500
-
-
-
-
899

57,127
38,071
95,198
106,564

b) Charitable activities

Fellowship & teaching
Book sales
Youth & schools
Youth weekend conferences
Community support
Toddlers group
Total		 Unrestricted
£
Restricted
£
Total funds
£
Prior year
£
404
-
404
1,364
241
-
241
700
-
-
-
775

645
-
645
2,839

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Earley Charitable Trust

Annual Report 2020 - 2021

c) Other trading activities

There were no relevant funds.

d) Investments

e) Other income

Unrestricted Restricted Total funds Prior year
£ £ £ £
Interest income 52 - 52 37
Total 52 - 52 37
Unrestricted Restricted Total funds Prior year
£ £ £ £
Reimbursed expenses (minibus use) - - - 231
Total - - - 231

f) Other information

All income in the prior year was unrestricted except for:

Restricted
£
Donations and gifts 49,293
Gift aid 775
Reimbursed expenses 231
Total 50,299

4. Receipts of government grants

No government grants or other forms of government assistance were received.

5. Donated goods, facilities and services

There were no donated goods, facilities or services recognised in this period.

The policy for recognition is stated in note 2.2.

The widespread contribution of unpaid volunteers is not mentioned in the accounts as it is impossible to quantify, but is mentioned in the report.

6. Analysis of expenditure

a) Expenditure on raising funds

There were no costs of this type.

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Earley Charitable Trust

Annual Report 2020 - 2021

b) Expenditure on charitable activities

penditure on charitable activities
Unrestricted Restricted Total funds Prior year
funds income funds period
£ £ £ £
Activities undertaken directly 1,857 - 1,857 7,973
Grant funding of activities 46,835 34,865 81,700 57,346
Support costs 37,117 2,033 39,150 17,580
Total expenditure on charitable activities 85,809 36,898 122,706 82,899

c) N/a

d) Other expenditure

These are largely governance costs for legal and financial administration of the trust, including the independent examiner's fees as shown.

Unrestricted Restricted Total funds Prior year
funds income funds period
£ £ £ £
Independent examiner's fees for
reporting on the accounts 600 - 600 150
Gas, fire, legionella certificates - - - -
Trustees expenses - - - 243
Total other expenditure 600 - 600 393
Total expenditure 86,409 36,898 123,306 83,292
Note that certain governance costs previously listed here are now treated as charitable support costs.
e) Other information
An analysis of expenditure on charitable activities is as follows:
Activity Name Activities Grant funding Support Total this Total prior
undertaken directly of activities costs year year
£ £ £ £ £
Church fellowship and 1,284 22,270 19,158 42,712 19,038
teaching
Evangelism - 2,790 3,903 6,693 9,387
Church growth and - 33,332 5,973 39,305 29,935
development
Youth and schools work 511 6,707 6,281 13,499 14,152
Community support 62 - 3,782 3,844 1,983
International support - 16,601 55 16,656 8,404
Total 1,857 81,700 39,150 122,706 82,899

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Annual Report 2020 - 2021

Earley Charitable Trust

Prior year expenditure on charitable activities can be analysed as follows:

Activity Name
Church fellowship and teaching
Evangelism
Church growth and development
Youth and schools work
Community support
International support
Total		 Activities undertaken
directly
£
Grant funding
of activities
£
Support costs
£
Year total
£
2,931
7,646
8,461
19,038
366
7,270
1,751
9,387
3,465
23,760
2,710
29,935
881
10,300
2,971
14,152
330
-
1,653
1,983
-
8,370
34
8,404
7,973
57,346
17,580
82,899

Within the expenditure items above the following items are material:

The majority of this years maintenance (£22,752) was spent on refurbishments to the 153b house and on constructing a new storage unit adjoining the meeting hall.

7. N/a

8. Funds received as agent

The following funds were received as agent, and are not included in the SOFA or Balance Sheet.

Amount received Amount paid out Balance held at Balance held at
period end
Description Related This Last This Last This Last
party year year year year year year
£ £ £ £ £ £
Support for local church family No 766 - - - 766 -
Medical support for a member No 0 7,950 3,560 4,390 0 3560
Total 766 7,950 3,560 4,390 766 3,560

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1-Feb-22

Earley Charitable Trust

Annual Report 2020 - 2021

9. Support costs

The overall allocation is as follows:

Church Evangelism Church Youth and Community Inter- Total
fellowship
and teaching		 growth and
develop-
ment		 schools work support national
support		 £
Governance 182 36 55 55 36 - 364
Bank charges - - 55 - - 55 111
Insurance premiums 2,012 402 604 604 402 - 4,024
Misc church running costs 619 124 185 185 124 - 1,237
Motor vehicles 242 121 242 605 - - 1,209
Maintenance of properties 11,376 2,275 3,413 3,413 2,275 - 22,752
Utilities costs for 2,032 406 610 610 406 - 4,064
properties
Depreciation 2,695 539 809 809 539 - 5,390
Total 19,158 3,903 5,973 6,281 3,782 55 39,150

The allocation of support costs has been based on estimated proportion of expenditure related to the respective activities for which they are generally used. This varies for the different costs and the proportions may vary from year to year.

10. Details of certain items

a)Fees for examination of the accounts

Independent examiner's fees
Other fees
Total		 This year
£
Prior year
£
600
50
-
-

600
50

11. Paid Employees

There were no paid employees of the trust at any time during the year. Hence there were no staffing expenses incurred.

12. Defined contribution scheme

There were no paid employees of the trust at any time during the year. Hence there were no pension contributions incurred.

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Earley Charitable Trust

Annual Report 2020 - 2021

13. Grantmaking

13.1 Analysis of grants paid

The following is a breakdown of grants made as included in the cost of charitable activities.

Analysis
Church fellowship and teaching
Evangelism
Church growth and development
Youth and schools work
Community support
International support
Total
13.2 Grants made to institutions
Names of institutions
Avail Mission
Centre Ministries (UK)
Christian Literature Crusade
Faith Church, Pakistan
Hope in Africa
Reach (was Learn4Life)
Rora Christian Fellowship, Devon
World Outreach		 Grants to
institutions
£
Grants to
individuals
£
Support costs
£
4,500
17,770
-
250
2,540
-
6,650
26,682
-
4,847
1,860
-
-
-
-
3,000
13,601
-		 Total
£
22,270
2,790
33,332
6,707
-
16,601
19,247
62,453
-		 81,700
Purpose
Total amount of
grants paid
£
Various mission activities including street children's work in
Bolivia and Thailand, support including Covid hardship
5,200
Support for a Christian conference centre during Covid
restrictions
1,000
Literature ministries
200
Church development support
5,000
Children & family support in Africa
1,000
Support for a full-time Christian school worker in Reading
2,000
Support for a Christian conference centre during Covid
restrictions
1,000
Christian school in Ivory Coast, Africa
3,847
Total grants to institutions
19,247
Other unanalysed grants
62,433
Total grants paid
81,700		 Total amount of
grants paid
£
5,200
1,000
200
5,000
1,000
2,000
1,000
3,847

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Earley Charitable Trust

Annual Report 2020 - 2021

14. Tangible fixed assets

14.1 Cost or valuation

At the beginning of the year
Additions
Revaluations
Disposals
Transfers
At end of the year		 Freehold Land
& Buildings
£
Plant,
machinery and
motor vehicles
£
Fixtures, fittings
and equipment
£
Total
£
250,746
12,934
22,214
285,894
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
250,746
12,934
22,214
285,894

14.2 Depreciation and impairments

Basis
Rate
At beginning of the year
Disposals
Depreciation
Impairment
Transfers
At end of the year
14.3 Net book value
Brought forward
Carried forward		 Straight line
Straight line
Straight line
2% or 50 years
on buildings,
0% on land
(£20,000)
20% or 5 years
10% or 10 years
128,844
12,934
19,290
161,068
-
-
-
-
4,615
-
775
5,390
-
-
-
-
-
-
-
-
133,459
12,934
20,065
166,458
121,902
0
2,924
124,826
117,287
0
2,149
119,436

14.4 Impairment

No impairments are recognised.

14.5 Revaluation

No revaluations are adopted.

14.6 Other disclosures

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Earley Charitable Trust

Annual Report 2020 - 2021

14.7 Other policy notes

In general, no attempt is made to value buildings and assets. Instead they are accounted on a depreciated cost basis. No depreciation has been provided on land - for this purpose a figure of £20,000 was assumed in the £80,000 purchase price of the church properties. The meeting hall was built in 1992/93 at a capital cost of £152,528, with a further kitchen improvement in 2011 capitalised at £18,218.

In including the other assets of the trust, some assumptions have been made. Firstly, only the more costly and recently acquired items are individually noted. Secondly, no valuations have been made on furnishings, as there are no known items of antique value. Thirdly, a considerable part of the contents of the houses will inevitably be the property of the occupants, not the trust. Plant and machinery covers only the minibus.

15. N/a

16. N/a

17. Investment assets

Only short term cash-based Investment Assets are held by the trust, i.e. savings accounts.

17.1, 17.2, 17.3 N/a

17.4 Breakdown of current asset investments

The following is is an analysis of current asset investments.

ments
set investments.
Cash or cash equivalents
Other investments
Total		 This year
£
Prior year
£
18,602
30,549
-
-

18,602
30,549

18. Stocks

No stock items are held by the trust.

19. Debtors and prepayments

19.1 Analysis of Debtors

This year Prior year
£ £
Prepayments 3,465 3,596
Short term loans 500 500
Accrued income 11,040 12,493
Total 15,005 16,589

Prepayments for periodic arrangements are calculated on whole months.

Accrued income includes monies owing to the trust in the form of gifts in process but not yet received. These are particularly from CAF cheques that need delivering for payment and Inland Revenue rebate claims.

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Annual Report 2020 - 2021

19.2 Analysis of debtors recoverable in more than 1 year

There are no debtors recoverable more than a year after the reporting period.

20. Creditors and accruals

20.1 Analysis of Creditors

Amounts falling due within one Amounts falling due within one Amounts falling due after more Amounts falling due after more
year than one year
This year Last year This year Last year
£ £ £ £
Accruals and deferred income 1,100 300 - -
Total 1,100 300 - -

Accruals for periodic arrangements are calculated on whole months.

21. Provisions for liabilities and charges

No such provisions exist.

22. Other disclosures for debtors, creditors

There are no disclosures.

23. N/a

24. Cash at bank and in hand

The following is is an analysis of cash held.

Short term cash investments
Short term deposits
Cash at bank and on hand
Other investments
Total		 This year
£
Prior year
£
-
-
-
-
35,650
43,340
-
-

35,650
43,340

25. Fair value of assets and liabilities

There is no significant risk of credit risk, liquidity risk and market risk.

26. Events after the end of the reporting period

The most significant event occurring after the end of year was the continuing effects of the global Covid-19 pandemic, but reserves were significant and income remained fairly stable. This is referred to in the trustees' report.

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Annual Report 2020 - 2021

Earley Charitable Trust

27. Charity funds

27.1 Details of material funds held and movements during the CURRENT reporting period

The following material individual fund movements were summarised in the Statement of Financial Activities.

Fund names
Type
PE, EE,
R, UR
Purpose and
restrictions
Church fund
UR
General church use
Bookstall &
toddlers funds
UR
Church bookstall &
toddler group
delegated
Youth & event
funds
UR
Church & youth event
funds (3 funds)
Love Gifts fund
R
Mission support
Buildings funds
R
Buildings running &
maintenance support
(5 funds)
Minibus fund
R
Minibus support
Individual gifts
funds
R
Named restricted
support (16 funds)
Other funds
N/a
N/a
Total funds		 Fund
balances
brought
forward
£
Income
£
Expenditure
£
Transfers
£
Gains
and
losses
£
Fund
balances
carried
forward
£
201,638
57,179
(85,239)
(750)
-
172,828
1,341
404
(658)
-
-
1,088
196
241
(511)
-
-
(74)
2,952
3,630
(6,200)
-
-
382
4,672
1,764
(1,320)
-
-
5,116
554
236
(713)
-
-
77
3,653
32,440
(28,665)
750
-
8,178
-
-
-
-
-
-
215,005
95,895
(123,306)
-
-
187,593

27.2 Details of material funds held and movements during the PREVIOUS reporting period

The following material individual fund movements were summarised in the Statement of Financial Activities.

Fund names
Type
PE, EE,
R, UR
Purpose and
restrictions
Church fund
UR
General church use
Bookstall &
toddlers funds
UR
Church bookstall &
toddler group
delegated
Youth & event
funds
UR
Church & youth event
funds (3 funds)
Love Gifts fund
R
Mission support
Buildings funds
R
Buildings running &
maintenance support
(5 funds)
Minibus fund
R
Minibus support
Individual gifts
funds
R
Named restricted
support (55 funds)
Other funds
N/a
N/a
Total funds		 Fund
balances
brought
forward
£
Income
£
Expenditure
£
Transfers
£
Gains
and
losses
£
Fund
balances
carried
forward
£
177,016
56,434
(31,812)
-
-
201,638
1,771
2,239
(1,349)
(1,320)
-
1,340
477
700
(981)
-
-
196
2,421
4,431
(3,900)
-
-
2,952
3,769
3,516
(3,933)
1,320
-
4,672
214
1,247
(907)
-
-
554
2,958
41,105
(40,410)
-
-
3,653
-
-
-
-
-
-
188,625
109,672
(83,292)
-
-
215,005

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Annual Report 2020 - 2021

27.3 Transfers between funds

The following transfers between material funds were made during the year.

Reason for transfer Amount
£
Between unrestricted and Transfer of Church general funds to Reach school worker fund
restricted funds representing gifts in lieu of previous gifts made but lacking
support 750
7.4 Designated funds
he following designated funds exist at end of the year.
Planned use Purpose of the designation Amount £
Bookstall Ongoing charitable trading use of bookstall 172
Toddler group Membership and purchase of toys and supplies 914
Youth weekends Organisation costs of youth camps and events -74

27.4 Designated funds

The following designated funds exist at end of the year.

28. Transactions with trustees and related parties

28.1 Trustee remuneration and benefits

No remuneration or benefits were paid to any trustees during the year.

However, gifts totalling £1,000 were made to 2 related persons of trustees at the request of all 4 elders, as part of a large batch of gifts recognising hardship under the Covid lockdown.

28.2 Trustees' expenses

The following trustee expenses occurred.

Travel
Other
Total		 This year
£
Prior year
£
-
243
-
-

-
243

No trustees were reimbursed for expenses.

28.3 Transactions with related parties

The following related party transactions occurred in the reporting period.

Name of the trustee or Relationship Description of the transaction(s) Amount Balance at Provision Amounts
related party to charity period end for bad written off
debts
£ £ £ £
David Medlock, Trustee Support gifts to Avail Mission for
trustee of Avail (chair) ministry support, mostly for Bolivia
Mission 5,200 - - -
Peter Cowling, Effective Ongoing support gifts to Reach trust for
trustee of Reach trustee Christian Schools work in Reading
(was Learn4Life) (elder) 2,000 - - -

These grants are in accord with the aims of the trust, and were agreed by at least 2 unrelated elders or trustees.

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Annual Report 2020 - 2021

29. Additional disclosures

Additional matters

Earley Charitable Trust accounts include two HSBC church and toddlers accounts, and an account with Stewardship Services.

Maintenance

The majority of this years maintenance (£22,752) was spent on refurbishments to the 153b house, and the building of a storage outbuilding adjacent to the meeting hall.

Utilities and Council Tax

All hall running costs are met from general funds and gifts restricted for buildings use. A large part of the running costs for the two houses is met by the occupants, including council tax.

Insurance

Cover is for all the buildings and church-owned contents only. Third party liability for the church is included. As usual the costs are met from church general funds.

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