**Charity registration number 283068**
## **EARLY CHARITABLE TRUST**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **EARLY CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
M Steed D J Medlock M C Parting D Camfield
**Charity number** 283068 **Principal address** 153 Wokingham Road Reading Berkshire RG6 1LW **Independent examiner** Frances Wilde FCCA DChA Warner Wilde Chartered Certified Accountants 4 Marigold Drive Bisley Surrey GU24 9SF
## **EARLY CHARITABLE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 15|
## **EARLY CHARITABLE TRUST**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 MARCH 2022**_
The trustees present their annual report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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 ).
## **Objectives and activities**
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 guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
This year has been a period of adjustment as the effects of the COVID pandemic have reduced and the church has returned to its normal pattern of meetings and activities. The church took the decision to meet in person as soon as practicably possible. The option of attending meetings via zoom remained for those who felt more comfortable on that media.
Sunday morning meeting recommenced in July with about 50% attendance; by the end of the reported period in March 2022 the number had risen to about 80%. At the time of writing this report (December 2022) everyone who is physically capable is back meeting in person. The option of zoom has been retained for those too sick to attend meetings or who are in other locations.
Other activities such as house groups, prayer meeting, Sunday school, men’s breakfast and youth groups have all recommenced to the same pre pandemic level. It was decided not to hold the ladies Xmas lunch in December as it was too close to the pandemic period for such a mass event. It is planned to reconvene in 2022.
The church has reverted back to having open meetings on Sunday mornings without any predetermined speakers. The need to have set speakers for Sunday morning meetings worked well over the pandemic period; however, it was felt that one of the key characteristics of the church is the opportunity to contribute during meetings based on the inspired word of God. Receiving visiting speakers resumed during the second half of the period.
The outreach meetings in the shopping centres of Reading and Woodley where similarly disrupted due to the pandemic, however, they have started up again with some new folks involved.
The New Life Conference at Quinta took place in August 2021. Attendance was good despite it being held just after the lifting of covid restrictions. Boys Camp and Girls House Party at Rora also took place and were very successful. The church continues to supply a significant amount of support and resources for both of these events.
- 1 -
## **EARLY CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Property Developments and Funding**
Much needed maintenance and repair work was carried out on the shed roof of 153 house. The work to erect a wooden storage unit at the back of the church was completed. The additional storage has made a significant improvement to day to day running. The church hall roof will need significant work next year as it continues to leak. The electrical certificate for 153 and the church hall are also due in 2022. Some windows in 153b house will also need to be replaced in the near future.
## **Volunteer Working**
All of the activities in the church are run and co-coordinated by members of the church. Church members regard this as part of their normal church life and service to the community. They do not see themselves as “volunteers” in the sense it is normally interpreted. There are no helpers that are not church members, so under these circumstances it was not deemed necessary to have a policy on volunteer working.
## **Complaints**
The majority of concerns raised by individuals are dealt with at source by the individuals responsible for that particular area. Any serious concerns are raised with the Eldership and dealt with appropriately. There is a safeguarding policy for the protection of Vulnerable Adults and Children.
There have been no serious complaints or safeguarding issues raised during the year.
## **Financial review**
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 increased from £95,895 to £ 125,656 . This is a relatively large increase year on year, however 2020-21 was below normal. There was a significant legacy received of £11,500 during the year otherwise income was through the usual channels of giving.
Total outgoings decreased from £1 23,305 to £108, 464 . Last year saw an exceptional level of gifts at £81,700 across the board. Much of this was due to support during the pandemic period. This year gifts have returned to a more normal level at £52,290.
The cost of repair and maintenance to the houses on site remained constant around £7,000. The church hall storage area was completed which increased costs for the hall from £15,000 to £21,000.
It remains the policy of the Trustees to use as much of the funds to assist individuals and groups locally and world-wide in the promotion of the Christian message whilst retaining sufficient funds to meet the regular commitments of the Trust. In view of the consistent pattern of income and expenses and the response to the recent appeal to raise specific funds to cover special costs the Trustees will continue its practice of not setting aside any reserves for unforeseen occurrences.
## **Structure, governance and management**
The charity is a trust governed by a Deed of Trust dated 29th June 1981.
The trustees who served during the year and up to the date of signature of the financial statements were: M Steed
D J Medlock M C Parting D Camfield
- 2 -
## **EARLY CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
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.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
## **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: Paul Moorcroft Michael C Parting Peter Cowling Daniel Towers
## **Risk Management / Safeguarding**
ECT and the Trustees take the wellbeing and health and safety of all personnel involved with the functioning of the ECF church seriously. The trustees and leadership are committed to having the relevant policies reviewed and communicated to ensure that safeguarding policies are adhered to.
The Trustees reviewed the risk management register at the meeting in October 2021. The various risk categories have been updated as either works or new processes have been put into place. The latest safeguard training was carried out in February 2020. The next training is planned for Spring 2023.
## **Funds held as custodian trustee**
The following funds were received as agent, and are not included in the SOFA or Balance Sheet. • Support for a local church family £789 (2021: £766)
The trustees' report was approved by the Board of Trustees.
.............................. M C Parting **Trustee**
Date: .............................................
- 3 -
EARLY CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF EARLY CHARrrABLE TRUST
I rep)rt to thè trustees on my èx8mlnation (rf the fi1)W81 statements of Eady Chariiable Trust (the cWtyI for
the year ended 31 March 2022.
R••ponslbllltlM and basls of rnport
As the trustees ol the tharity you arè responsib for the pr¥parakn of the IlnarKlal st8tsmènts In actordanog
with the rgqulrements of tho CharltiesAct 2011{ 2011 Ad).
I report In r¢spect of my examlnation of th8 drity$ finanrAal 8tatam•nts caryltra out under $6cfjon 145 of the
2011 Act. In carTring out my examinat I hov¢ followed all the applicable Dwect*Jns Ven ty the Charlty
Comml88lon und6r so¢Uon 14515Xbl of the 2011 A¢*.
Ind•p•nd•nt •xamln•rf• •tat•m•nl
Your Attention 18 drawn to the faci Ihat the tharity has pr¢pared financAal statom•nts In accordanco th
Accounung and Reportlng by Charli18$ kyep8rtr 8co)unts In aCCordar9 thg Flnancial Reportlng
Stsndard appllcable In the UK and Republic of Ireland IFRS 1021 In preferenca io Ihe Accounting and Reportlng
by Charfti68.' Stslem8nt of Rg¢ommended Pwlica isaued on 1 April 2{ thid) Ib r8forrad to In the extant
regulallons but has now en wlthdrawn.
l undgrsland that IhLg h88 boon don8 kn Lydw for financial 8tateThnls kn wide a trua and lalr vlow In
¢¢ordancè wtth Ggneraty A¢tl Ao¢¢wnllw Prnctke eff8ctlv• for rep)rllng perlods boglnnlng t)n or after I
January 2015.
I havg mplad my gxamlnation. I confimi that no matter8 h8vg c4me lo my attbntlon In c4nnocllon wllh th8
oxamlnalion gIng mo cause lo believe that in any rnalerial resF*I:
accounts'ng records were not kept in rosF*L# of the charity as roqulrnd by 8ecth)n 130 of th9 2011 Art
th• fin8ndal stat8m•nts do not accord wth those records,. or
Ihe flnancial stal8rn8nts do nol compty wlth tho Op1¢ab Tequlrernants CA)nc•mlng the form and cont•nt of
gccounls set out In tho Charitièy IAccAJunls and RetM)rts) RegulaUon$ 2008 other than any requlrem&nl that
the accounts glve a Irue and tstr VI whkh is not a maltar &16r0d 88 Part of an Indgpendent
èxamlnalbn.
I havo no concemB and h8V0 r¥) other mattern in conn•cllon wlth th• •xamin8tion to attention
should bo drawn In thL8 report In ordor lo a proper uThJerslarK11ng of th8 flnandal $tatsm•nt8 to b•
reached.
FTr* Wlkl• FCCA DChA
Wamer Wllde
Chartèred Certified Acclwntarts
4 Marigold Drive
Blsley
Surrey
GU24 9SF
Dated..
## **EARLY CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
72,945
50,638
Charitable activities
**4**
1,997
69
Investments
**5**
7
-
**Total income**
74,949
50,707
**Expenditure on:**
Charitable activities
**6**
58,452
50,012
**Net incoming/(outgoing)**
**resources before transfers**
16,497
695
Gross transfers
between funds
(1,000)
1,000
**Net income/(expenditure)**
**for the year/**
**Net movement in funds**
15,497
1,695
Fund balances at 1 April 2021
173,840
13,754
**Fund balances at 31 March**
**2022**
189,337
15,449|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
123,583
57,127
38,071
2,066
645
-
7
52
-
125,656
57,824
38,071
108,464
86,408
36,897
17,192
(28,584)
1,174
-
(750)
750
17,192
(29,334)
1,924
187,594
203,174
11,830
204,786
173,840
13,754|**Total**
**2021**
**£**
95,198
645
52
95,895
123,305
(27,410)
-
(27,410)
215,004
187,594|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 5 -
## **EARLY CHARITABLE TRUST**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Investments
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**14**
Unrestricted funds|**2022**
**£**
19,597
-
70,878|**£**
116,420
88,366
204,786
15,449
189,337
204,786|**2021**
**£**
15,006
18,602
35,650|**£**
119,436
68,158|
|---|---|---|---|---|
||90,475
(2,109)||69,258
(1,100)||
||||||
|||||187,594|
|||||13,754
173,840|
|||||187,594|
The financial statements were approved by the Trustees on .........................
.............................. M C Parting **Trustee**
- 6 -
## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **Charity information**
Early Charitable Trust is a trust.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
- 7 -
## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
**(Continued)**
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land & buildings 2% straight line on buildings, 0% on land Fixtures & fittings 10% straight line Motor vehicles 20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 8 -
## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 9 -
## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
61,371
50,638
Legacies receivable
11,574
-
72,945
50,638|**Total**Unrestricted
Restricted
funds
funds
**2022**
2021
2021
**£**
£
£
112,009
57,127
35,571
11,574
-
2,500
123,583
57,127
38,071|Total
2021
£
92,698
2,500
95,198|
|---|---|---|
## **4 Charitable activities**
||**Charitable**|**Charitable**|
|---|---|---|
||**Income**|**Income**|
||**2022**|**2021**|
||**£**|**£**|
|Church fellowship and teaching|817|404|
|Youth and schools work|1,165|241|
|Other income|84|-|
||2,066|645|
|Analysis by fund|||
|Unrestricted funds|1,997|645|
|Restricted funds|69|-|
||2,066|645|
## **5 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Interest receivable|7|52|
- 10 -
## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **6 Charitable activities**
||**Charitable**|
**Charitable**|
|---|---|---|
||**Expenditure**|
**Expenditure**|
||**2022**|
**2021**|
||**£**|
**£**|
|Depreciation and impairment|5,179|
5,390|
|Church fellowship and teaching|1,036|
1,283|
|Youth and schools work|2,197|
511|
|Community support|-|
62|
||8,412|
7,246|
|Grant funding of activities (see note 7)|53,060|
81,700|
|Share of support costs (see note 8)|45,368|
33,648|
|Share of governance costs (see note 8)|1,624|
711|
||108,464|
123,305|
|**Analysis by fund**|||
|Unrestricted funds|58,452|
86,408|
|Restricted funds|50,012|
36,897|
||108,464|
123,305|
## **7 Grants payable**
|**Grants payable**|||
|---|---|---|
||**Charitable**|Charitable|
||**Expenditure**|Expenditure|
||**2022**|2021|
||**£**|£|
|Grants to institutions:|||
|Avail Mission|4,004|5,200|
|Centre Ministries (UK)|-|1,000|
|Christian Literature Crusade|-|200|
|Faith Church, Pakistan|500|5,000|
|Hope in Africa|-|1,000|
|Reach - formerly Learn4Life|3,000|2,000|
|Rora Christian Fellowship, Devon|-|1,000|
|World Outreach|665|3,847|
|Other|-|46,193|
||8,169|65,440|
|Grants to individuals|44,891|16,260|
||53,060|81,700|
- 11 -
## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**8**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Church running costs
3,518
-
Motor vehicles
3,413
-
Maintenance and
property costs
29,220
-
Utilities
5,134
-
Insurance
4,083
-
Bank fees
-
124
Independent examiner
-
1,500
45,368
1,624
Analysed between
Charitable activities
45,368
1,624|**2022**
**£**
3,518
3,413
29,220
5,134
4,083
124
1,500
46,992
46,992|Support
costs
Governance
costs
£
£
1,378
-
1,209
-
22,975
-
4,062
-
4,024
-
-
111
-
600
33,648
711
33,648
711|2021
£
1,378
1,209
22,975
4,062
4,024
111
600
34,359
34,359|
|---|---|---|---|
Governance costs includes payments to the Independent Examiner of £1,320 for accounts preparation and independent examination (2021- £ 600 for independent examination only).
## **9 Trustees**
None of the trustees received remuneration or benefits from the charity during the year.
## **10 Tangible fixed assets**
|**Freehold land**
**& buildings**
**Fixtures &**
**fittings**
**Motor vehicles**
**£**
**£**
**£**
**Cost**
At 1 April 2021
250,747
22,214
12,934
Additions
-
2,162
-
At 31 March 2022
250,747
24,376
12,934
**Depreciation and impairment**
At 1 April 2021
133,459
20,065
12,934
Depreciation charged in the year
4,615
564
-
At 31 March 2022
138,074
20,629
12,934
**Carrying amount**
At 31 March 2022
112,673
3,747
-
At 31 March 2021
117,287
2,149
-|**Total**
**£**
285,895
2,162
288,057
166,458
5,179
171,637
116,420
119,436|
|---|---|
- 12 -
## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**11**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**12**
**Current asset investments**
Unlisted investments|**2022**
**£**
-
16,318
3,279
19,597
**2022**
**£**
-|**2021**
**£**
1
11,540
3,465
15,006
**2021**
**£**
18,602|
|---|---|---|
Short term cash-based i nvestment a ssets held by the trust, i.e. savings accounts , were included in current asset investments in 2021. These are noted under bank in 2022.
## **13 Creditors: amounts falling due within one year**
|Other creditors
Accruals and deferred income|**2022**
**£**
789
1,320
2,109|**2021**
**£**
-
1,100
1,100|
|---|---|---|
- 13 -
## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **14 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|**Incoming**|**Resources**|**Transfers**|
**Balance at**|
||**1 April 2020**|**resources**|**expended**||**1 April 2021**|**resources**|**expended**||**31 March 2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
**£**|
|Love Gifts|2,952|3,630|(6,200)|-|382|5,705|(3,300)|-|
2,787|
|Buildings|4,672|1,764|(1,319)|-|5,117|2,939|(5,570)|1,000|
3,486|
|Minibus|554|236|(713)|-|77|255|(165)|-|
167|
|Support for named individuals|3,652|32,441|(28,665)|750|8,178|41,808|(40,977)|-|
9,009|
||11,830|38,071|(36,897)|750|13,754|50,707|(50,012)|1,000|
15,449|
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## **EARLY CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**15**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 31
March 2022 are
represented by:
Tangible assets
116,420
-
Current assets/
(liabilities)
72,917
15,449
189,337
15,449|**Total**Unrestricted
funds
Restricted
funds
**2022**
2021
2021
**£**
£
£
116,420
119,436
-
88,366
54,404
13,754
204,786
173,840
13,754|Total
2021
£
119,436
68,158
187,594|
|---|---|---|
## **16 Related party transactions**
The following related party transactions occurred during the year :
G ifts totalling £0 (2021: £1,000 ) were made to 0 (2021: 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.
Grants to Avail Mission £4,004 (2021: £5,200) and Reach £3,000 (2021: £2,000). Both of these organisations have a trustee in common with Earley Charitable Trust. In each case, the 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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