_**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 seCtn 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 IreCtIonS gn 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 prode 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 aCunting records were not kryt ¥1 accordance with section 130 of Chgrits$ Ad" or
the COUnts dkl accord wh 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 (nSkIred 88 part of
an independant examIr1?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||
_**Page 3 of 22**_
_**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.
_**Page 4 of 22**_
_**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.
_**Page 5 of 22**_
_**1-Feb-22**_
##
##
##
##
_**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.**
_**Page 7 of 22**_
_**1-Feb-22**_
##
|||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 Statement of Recommended Practice (SORP 2015): Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, and with
- the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and with
- the Charities Act 2011.
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:
- the charity becomes entitled to the resources; and
- it is more likely than not the trustees are will receive it; and
- the monetary value can be measured with sufficient reliability.
_**Page 9 of 22**_
_**1-Feb-22**_
_**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**_
_**1-Feb-22**_
_**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**|
_**Page 11 of 22**_
_**1-Feb-22**_
_**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.
_**Page 12 of 22**_
_**1-Feb-22**_
_**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**||
_**Page 13 of 22**_
_**1-Feb-22**_
_**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**|
_**Page 14 of 22**_
_**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.
_**Page 15 of 22**_
_**1-Feb-22**_
_**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|
_**Page 16 of 22**_
_**1-Feb-22**_
_**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**
- (i) No borrowing costs have been capitalised in the construction of tangible fixed assets.
- (ii) No contractual commitments exist for the acquisition of tangible fixed assets.
- (iii) No property, plant and equipment exists with restricted title or pledged as security for liabilities.
_**Page 17 of 22**_
_**1-Feb-22**_
_**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.
_**Page 18 of 22**_
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_**Earley Charitable Trust**_
_**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.
_**Page 19 of 22**_
_**1-Feb-22**_
_**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|
_**Page 20 of 22**_
_**1-Feb-22**_
_**Earley Charitable Trust**_
_**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.
_**Page 21 of 22**_
_**1-Feb-22**_
_**Earley Charitable Trust**_
_**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.
_**Page 22 of 22**_
_**1-Feb-22**_