Charity registration number 283068
THE EARLEY CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
THE EARLEY CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees M Steed D J Medlock M C Parting 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
THE EARLEY CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 16 |
THE EARLEY CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report and financial statements for the year ended 31 March 2023.
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
The year has seen a continuation of the move back to in person meeting and away from zoom. The option of attending meetings via zoom remains but is largely used by those unable to attend meetings in person for other medical reasons than covid.
The last 18 months has seen a significant shift in the make-up of a large proportion of the church membership. A number of young single people aged 20 – 30 have moved onto other local churches, notably Reading Family Church. During the same period there has been a significant influx of young families from local churches and contacts through Trinity Christian school.
The overall numbers attending the Sunday morning meeting therefore remain constant and the hall is pretty much at capacity. However, the mix is quite different with many more Sunday school children and family related activities.
For many new members the extent of the open nature of the meetings is unusual. However, many appear to like the opportunities it provides and some are beginning to participate on a more regular basis. The new members are currently involving themselves primarily on a Sunday morning; it is hoped that they will get more involved with the prayer meeting and house groups as time goes on. Both house groups and prayer meeting continue to be well attended by the core of the church. We probably need to establish new house groups at some stage as numbers are becoming too large for hosting.
The two houses on the site have been busy. Matt & Anna have continued to carry out excellent children’s and youth work. Jose and Marioly have immersed themselves in providing hospitality and support for both church members and groups outside of the church. They have attracted many individuals from the Latin community to their house through providing a warm welcome and good food!
During the year Matt & Anna decided that after 5 years it was time to move on from 153. They have secured a new property and will leave in the summer of 2023. Jose and Marioly expressed a desire to move from 153b into the big house next door as they need more room to fulfill their ministry. Both the eldership and church were in full agreement with this choice.
It was decided at a later meeting that Jamie & Elizabeth Moorcroft should move into 153b. Both moves are likely to be in the New Year 2024 as it is anticipated that some significant work may need to be carried out in 153.
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THE EARLEY CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
One of the biggest events during this period has been the outreach to the Ukrainian refugees that have come to Reading. A number of church members have committed to support the families that have come over. There has been a bi-weekly coffee morning held at the hall for the past 18 months. There is food, clothing and other support available for anyone who wants to come. Outside of this meeting there has been a huge amount of practical support given to help the families settle in and eventually move into their own rented properties.
A couple of families have hosted Ukrainian families. A strong bond has developed between some church members and some Ukrainians. A small number attend church regularly. This work is likely to continue for some time.
The outreach meetings in the shopping precincts at Reading and Woodley are back in full swing. There has been a change in the people involved as some have moved on, however, other have come forward to make up the gap and the work is going extremely well.
The New Life Conference at Quinta, Boys Camp and Girls House party all took place during the year. The church continues to supply a significant amount of leadership, support and resources for both of these events.
Property Developments and Funding
With the up and coming change of residents in 153 it will be time to consider the issues of heating and insulation of the main house. It is important that the house can operate as a family home rather than as an institution where people are accommodated and the provision of comfortable, well heated communal areas is an essential element of that equation. It is also important to provide reasonably heated rooms for the various Sunday school groups during the winter which has not been the case over the past 18 months.
Plans have also been put into place to replace the remaining wooden windows in 153b with modern double glazed units.
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. There continue to be no employed positions in the church and all the work required to run the church is carried out on a voluntary basis.
Overall income decreased from £125,655 to £100,012. Total outgoings increased from £108,290 to £124,111. The level of gifts sent out was an increase on last year at around £66,700.
The cost of repair and maintenance remained high for a second year running. Some large trees were removed at a cost of £4,110 and the rear roof of the hall was replaced after years of leaks at a cost of £15,000.
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THE EARLEY CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
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.
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 April 2023. 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 Spring 2023.
The Electrical Certificate for 153 was renewed in August 2023 and is valid for 5 years.
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 (Resigned 16 October 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.
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THE EARLEY CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The trustees, report was approved by the Board of Trustee5. M C Parbng Trustee Date".
THE EARLEY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EARLEY CHARITABLE TRUST I report to the trustees on my examinatw)n of th& financial statam8nis of The Earfey Charllabl6 Trust (the ¢harltyl for the year ended 31 March 2023. R•sponslbllltlos and basls of roport As thg trustees of the charity you ar& responble for th8 preparation of the financial statements in accordance wlth the requlrements of the Charltles Act 2011 (the 2011 Ad). I repl In respect of my axamlnath)n of th6 cawrlty8 finando18ts1omonts Gathod out undgr 8ectlon 145 of the 2011 Act. In carying out my examination I have folknved all thè applicabl8 Dir8ction8 glven by tha Charlty Commissi¢)n undor section 145(5Xb} of th8 2011 A¢L Independenl •xamln•Vs •tatemont Your att8nllon Is drawn to tha fa¢t that the thaflty prepargd finandal statements In 8CCt)rdance wfth Awunling and Rgporting by Charlties preparing thelr accounts In aecordance wlth th8 Finandal Rgporting Standard appllcable In the UK and Républic of Ireland IFRS 102) in pref8r8nce lo the Accountlng and Reporting by Charitias.. Statgmgnt of Recommended Pra(aice Issued on 1 Aprfl 2005 which Is rèforrèd lo in thg gxtant rggulalions but has now been vAthdrawn. l understsnd that IhlB ha8 been done In (xder for finandal 8tatements to provlde 8 true and falr vlew In accordance wlth Generalty Accapted A¢o)unllng Pracllce effeclfve for reporfjng perlod8 beglnnlng on or after 1 January 2015. I have completed my examination. I c4Jnllmi that no matters have me to my attentton In nnectIon wlth the xaminalion giving ma causg to believg that in any material respecL' accountlng record8 were not kept In re3FCt of the charty as requlrad by sa¢tlon 130 of tho 2011 Act., or thg flnancSal statements do Th)1 accord wlth those records.. or th8 flnanclal statements do not comply with the applicable rgqulrgmgnts Lx)nc•mlng the form and content of accounts sel out in thè Charities (Accounts aTrJ Rewrts) RegulatSons 2008 other than any requlremènl that the accounts glve a true and falr vlow 1$ r)t a matter conshkned as part of an Ind8pendenl examlnation. I have no concem$ and havo come across no other matters In &)nnectK)n with the examlnauon to which attention should be drawn In th18 report In order to anablè a propor undgrstanding of the financial Statements to be reached. FraThc Wlld• FCCA DChA Warnèr Wildè Chartered Certified A¢¢ountants 4 Marigold Drive Bislgy Surrgy GU24 9SF OL4-
THE EARLEY CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 3 52,471 44,736 Charitable activities 4 2,368 155 Investments 5 282 - Total income 55,121 44,891 Expenditure on: Charitable activities 6 79,743 44,368 Net (outgoing)/incoming resources before transfers (24,622) 523 Gross transfers between funds (773) 773 Net (expenditure)/income for the year/ Net movement in funds (25,395) 1,296 Fund balances at 1 April 2022 189,337 15,449 Fund balances at 31 March 2023 163,942 16,745 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 97,207 72,945 50,638 2,523 1,997 69 282 7 - 100,012 74,949 50,707 124,111 58,452 50,012 (24,099) 16,497 695 - (1,000) 1,000 (24,099) 15,497 1,695 204,786 173,840 13,754 180,687 189,337 15,449 |
Total 2022 £ 123,583 2,066 7 125,656 108,464 17,192 - 17,192 187,594 204,786 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE EARLEY CHARITABLE TRUST BALANCE SHEET AS AT31 MARCH 2023 2023 2022 Notes Fixed assets Tangible assets 10 111,090 116.420 Current assets Debtors Cash at bank and in hand 11 16,982 54.766 19.597 70.878 71,748 90.475 Creditors: amounts falling due within one year 12 (2.151) 12,109) Net curFent asset5 69,597 88.366 Totsl assots 10$$ current liabilities 180.687 204,786 Income funds Restricted funds Unrestricted funds 13 16,745 163.942 15,449 189.337 180.687 204,786 The linancial statements We approved by the Trustees on _. M C Parting Trustee
THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
The Earley 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.
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THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
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.
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THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
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.
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THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
3 Donations and legacies
| Unrestricted Restricted funds funds 2023 2023 £ £ Donations and gifts 52,471 44,736 Legacies receivable - - 52,471 44,736 |
TotalUnrestricted Restricted funds funds 2023 2022 2022 £ £ £ 97,207 61,371 50,638 - 11,574 - 97,207 72,945 50,638 |
Total 2022 £ 112,009 11,574 123,583 |
|---|---|---|
4 Charitable activities
| Charitable | Charitable | |
|---|---|---|
| Income | Income | |
| 2023 | 2022 | |
| £ | £ | |
| Church fellowship and teaching | 819 | 817 |
| Youth and schools work | 1,520 | 1,165 |
| Other income | 184 | 84 |
| 2,523 | 2,066 | |
| Analysis by fund | ||
| Unrestricted funds | 2,368 | 1,997 |
| Restricted funds | 155 | 69 |
| 2,523 | 2,066 |
5 Investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Interest receivable | 282 | 7 |
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THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
6 Charitable activities
| Charitable | Charitable |
|
|---|---|---|
| Expenditure | Expenditure |
|
| 2023 | 2022 |
|
| £ | £ |
|
| Depreciation and impairment | 5,329 | 5,179 |
| Church fellowship and teaching | 661 | 1,036 |
| Youth and schools work | 1,278 | 2,197 |
| Community support | 3,500 | - |
| 10,768 | 8,412 |
|
| Grant funding of activities (see note 7) | 66,693 | 53,060 |
| Share of support costs (see note 8) | 44,023 | 45,368 |
| Share of governance costs (see note 8) | 2,627 | 1,624 |
| 124,111 | 108,464 |
|
| Analysis by fund | ||
| Unrestricted funds | 79,743 | 58,452 |
| Restricted funds | 44,368 | 50,012 |
| 124,111 | 108,464 |
7 Grants payable
| Grants payable | ||
|---|---|---|
| Charitable | Charitable | |
| Expenditure | Expenditure | |
| 2023 | 2022 | |
| £ | £ | |
| Grants to institutions: | ||
| Avail Mission | 4,200 | 4,004 |
| Faith Church, Pakistan | 2,000 | 500 |
| Reach | 2,000 | 3,000 |
| World Outreach | 9,660 | 665 |
| Living Waters | 1,000 | - |
| Reading University Christian Union | 1,000 | - |
| Other | 900 | - |
| 20,760 | 8,169 | |
| Grants to individuals | 45,933 | 44,891 |
| 66,693 | 53,060 |
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THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 8 Support costs Support costs Governance costs £ £ Church running costs 2,893 - Motor vehicles 2,838 - Maintenance and property costs 25,263 - Utilities 9,266 - Insurance 3,763 - Legal and professional - 186 Bank fees - 1,079 Independent examiner - 1,362 44,023 2,627 Analysed between Charitable activities 44,023 2,627 |
2023 Support costs Governance costs £ £ £ 2,893 3,518 - 2,838 3,413 - 25,263 29,220 - 9,266 5,134 - 3,763 4,083 - 186 - - 1,079 - 124 1,362 - 1,500 46,650 45,368 1,624 46,650 45,368 1,624 |
2022 £ 3,518 3,413 29,220 5,134 4,083 - 124 1,500 46,992 46,992 |
|---|---|---|
Governance costs includes payments to the Independent Examiner of £1,362 for accounts preparation and independent examination (2022- £ 1,320).
9 Trustees
Payments were made to 2 Trustees and 2 Elders for receipted charity expenses, including £100 gratuity to a trustee who stood down in the year.
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THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 10 Tangible fixed assets Freehold land & buildings Fixtures & fittings Motor vehicles £ £ £ Cost At 1 April 2022 250,747 24,375 12,934 Disposals - (16,995) - At 31 March 2023 250,747 7,380 12,934 Depreciation and impairment At 1 April 2022 138,074 20,629 12,934 Depreciation charged in the year 4,615 714 - Eliminated in respect of disposals - (16,995) - At 31 March 2023 142,689 4,348 12,934 Carrying amount At 31 March 2023 108,058 3,032 - At 31 March 2022 112,673 3,747 - 11 Debtors 2023 Amounts falling due within one year: £ Other debtors 13,949 Prepayments and accrued income 3,033 16,982 12 Creditors: amounts falling due within one year 2023 £ Other creditors 789 Accruals and deferred income 1,362 2,151 |
Total £ 288,056 (16,995) 271,061 171,637 5,329 (16,995) 159,971 111,090 116,420 2022 £ 16,318 3,279 19,597 2022 £ 789 1,320 2,109 |
|---|---|
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THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
13 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 2021 | resources | expended | 1 April 2022 | resources | expended | 31 March 2023 | |||
| £ | £ | £ | £ | £ | £ | £ | £ | £ |
|
| Mission Ministries | 382 | 5,705 | (3,300) | - | 2,787 | 2,360 | (5,000) | - | 147 |
| Buildings | 5,117 | 2,939 | (5,570) | 1,000 | 3,486 | 4,807 | (5,566) | - | 2,727 |
| Minibus | 77 | 255 | (165) | - | 167 | 186 | (165) | - | 188 |
| Support for named individuals | 8,178 | 41,808 | (40,977) | - | 9,009 | 37,538 | (33,637) | 773 | 13,683 |
| 13,754 | 50,707 | (50,012) | 1,000 | 15,449 | 44,891 | (44,368) | 773 | 16,745 |
Mission Ministries - formerly known as Love Gifts. This is for Missionary & Ministry support.
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THE EARLEY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 14 Analysis of net assets between funds Unrestricted funds Restricted funds 2023 2023 £ £ Fund balances at 31 March 2023 are represented by: Tangible assets 111,090 - Current assets/ (liabilities) 52,852 16,745 163,942 16,745 |
TotalUnrestricted funds Restricted funds 2023 2022 2022 £ £ £ 111,090 116,420 - 69,597 72,917 15,449 180,687 189,337 15,449 |
Total 2022 £ 116,420 88,366 204,786 |
|---|---|---|
15 Related party transactions
The following related party transactions occurred during the year :
Grants were made to Avail Mission of £4,200 (2022: £4,004) and Reach/Learn4Life of £2,000 (2022: £3,000). Both of these organisations have either a Trustee or Elder 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 E lders or T rustees.
Payments were made to 1 Elder and a close relation totalling £15,000 for Hall Roof repairs. This was approved by 3 unrelated trustees.
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