Charfty numbor: 289179 GOLD HILL CHURCH TRUST TRUSTEES. REpoKf AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
GOLD HILL CHURCH TRUST CONTEp¥rs Page R•f•r•nc• and Admlnlstratlvo D•tslls rf th• Ch•rity, Its Trust••s •nd Advls•rJ Truste••' R•port Ind•pond•nt Audltorn. R•port on th• Flnancknl Statwnw 7-10 Statsm•nt of Flnanclal Actlvltl•• 11 Balance Sheal 12 8tatsm•nt of Cash Flaws 13 Noles to th• Flnanclal Statsmgnts 14-21
GOLD HILL CHURCH TRUST REFERENCE AND AWN13TRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AMD ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trusl Rayner. Chaimian C Gledh. Treasurer R Barrett J (aF4xMnted 17 Decem 20231 Ch•flty r•gl•t•r•d number 289179 PAn¢lpal offk• ejo The Hub.. Gokl Hill Baptst Chu Churth Lan8 Chawont SL Peter Bucknngham8Pwre SL9 9RF Ind•p•nd•nt audllor• sh Gbbs (Audil) Limled Stalutory Auditor W¢y Court West unl Road Famham Surrey GU9 7PT Bank•rn B¥days Bar* P Page 1
GOLD HILL CHURCH TRUST TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 2024 The Truste present thair annual rewt togetherwith the alited financi81 slatements of Gold .11 Church Trust (the charity) lor the year ended 5 Apn'l 2024. The Twstees confirn that the Annual report and financial statements ol the charity comF4y with the currnnt statuw requirements, the requirements of the chantys goveming document and the pro¥isions of the Statement of Rec(xnmended Practice {SORP), applicable io charities preparing Ihwr accounts in accordance thg R8POrting Standard aprATrc8bte in the UK and Republic of Ireland (FRS 102) {effecti¥e 1 January 20151. Obl•ctSv•s and athttl Pollcles and obJocIIv•s In setting objectives aNI ftnIng for the Tnffjiees he givan due c(Thi(l¢r8tion to geral guKlan¢¢ published by the Chanty Commission relating to publ b¥rt. The charity probmles financial Support lo Gold Hill Churth, $08ks to 58rv& Iho tomnnty in which is situated, as well as engaging in national rd internation minislry. The major part of the funds di¥tTibuied by the chwty is f¢Y the wth and minthy of Gdd Hill Baptist Church. The chuh, which is a key part of the local community. prowdes a range of sep9$. whth arg d8tai18d in Ihg Trustee$, Report CA Gold Hill Baptist Church. The chanty also sLVpts one off disastw app and indivwjuals are to serve ov¢rsea$. advancing the Christian faith. Over recent ypars the charity has do[tiC io fund the and PUTcha8e of new premise8 for Gold Hill 8aptist Chwch. The chwch moved into th? premises thg centre of Chawonl St. Peter wi August 2021. The Charity Continues to receNe donations trpards the costs of repayin9 the finance on the building. b. Volunt•ern The charity 15 managed arbd administered ty vdurrtews. c. R•vl•w of actlvltlos •nd fuiuro In planning the aGtivities for the year. the TN8tses hw¥e considered the Chwity CommissKJn's guanCe on publ benefl. The Twst has contirwed it$ poly. a$ far as reasonabty pwt¢al. of digtrbuting inc¢xne received each month lo the appropriate oryanisations in month fo1tr1ng rec8ipl. Thi5 year. as in previous years. claims to recover income on gifts made under Grfl AJ were m&le to 5 April. The resuling arrK>unt wcrued in the ffinanGial statements and the di8trbution made in the folltrwirKJ Jear. The Trust will contiwe with this policy during the folvhirvj arKI has no pl9 to $iunifKantty dev Irom its regular act1¥rt. d. Flnandal Rovlw Overall, total hicome dwing the year wa8 £1.096.236 crAnpared wilh £715,878 in the previous year. The i1reas in donatnS refiects giving from a grfl perK>d to support the construction costs for Ihe new church building and to ralse fukvjs f a church house to a¢r¥I4te Pastor Team Leler. t)onations are still being received to repay capital and interest on the financing for the pfoJ&a. Donors have almost fully honoured pledges made previtiusty. The yearfs irKcwne al¥0 represents mle through wular offerings. In xcordanco with the Trust Deed. a signfficanl proportton of the Trusfs inc(wY givan io Gold Hill Bapbsl Church. Other areas of e>pense are grants lo olher exten*1 organwtKJns. Page 2
GOLD HILL CHURCH TRUST TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED S APRIL 2024 ObJ•ctlve8 and actlvllles (contlnu•d) o. Golng Concern After making appropriate enquiries. trustees have a reasonab18 expertatI that the charty has J¢quate resour¢e$ to ¢ontinue in operational existence for the fcKesele futurn. For this reason, they continue to adopt the going concem basis in pr8paring the financial statements. Further details regarding the adoption of the going ¢oncem basi8 can be found in the Ac(yyJntiry P185. f. R•80NM Pollcy Funds are 'restricterf when they are gTrn for a sp¢cffi¢ purposè. These fvnds get distributed in the financial year. Unrgslricled funds constitute the Yree. reserves and the We no balan¢es avaikble a$ * the year end. The Tfust has no planned unrestricted penditUfy and $0 v*iM not inpacl the forthcoming OblatIonS of the Trust during the year endir4J 5 Aprd 2024. As already NJted, rt 15 the TrusV$ poli¢y to make grant$ from in¢ome in tho month fdlowing rts receipt. as far as rt is prncticable and ci)nsistent with the financial wuirements of th8 Trust. As the Trust is Maged by hrluntee, there we no personnel costs or liabihties. There ar• no contractual ¢ommitments for premises or equiwient the Trust has made no undertakings to support w(¥k othgr than out of Gurrenl income. Therefore, the Trustees do cons#ler that a higher level of res?rves is necessary. P4e3
GOLO HILL CHURCH TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 8tructur•, govom•nco and manw•nt . Constitutlon The Goki Hill Church Trust is constituted by a Tnrnt Deed dated 1st Dember 1986 8md 1$ a gIStered Charity (nurnb¢r.' 289179). The e5 01 the Tru8tees and other leg informknn are given cm the irrfomiation page at the front of these finanoal stenknts. The objects of the Trust are to advarKe the Christian Falh WKI exercise Christian ClritY by making grants to.. 1. Gdd Hill Baptist Churth wd otherChii5tian org•¥¥kn whoso W0$¢ 1$ t)nly the advancement ofthe Christian Farth. 2. Rwni8ed charities engaged in the of Imess. or corKemed with or spntual welfare. In practice income is norffAIty dthèjuw the donots wishes. which are taken to be the general purpo8e8 of Gokl Hill Bapli8t Church, rf more speth preferences aro not modo. There have been no changes li Il die¢tisw s•Ke ts1oSt annuol rewt. b. Methods of appolntmont or •hrAlon ofTntsto•s The Trust is managed on a daY-ldaY basis by the TreasuTer, who d8 with the donations as thgy arg received ensures that appropriate tax is reclaim&J on th¢Jse donations made under Grfi Aid. The Trustees, o must be members of the Gold Hill Baptisi Church. meet fom•lty as and when poly issues arise. New Trustees te appointed by the Trustees wilh the approval of the Truste85 of Gold Hill Baptist Church. c. Polki• adopt•d for1 Inductlon and tralnlThg of TnMt•es The Trust8es, who are members of Gokl Hll Bapttst Chu. thady have received the job tiition throu their involVnent with the Church. TW arn akn prry4 materid on trustee responsibilitigs produced by the Chanty Commission d. Pay pollcy for k•y management pernonnel The ¢harity does not emF4ty any stsff. e. Rhk management The Trustees review the maTr)i risks faced by the Tntst arnl have eslabli5hed a s1¢M of regular reports so that the necessary steps can be taken to reduce these (i8ks f. Trt••$' lrydemnlll•¥ There are no TrLffjte8s' Indwnnibes. Page 4
GOLD HILL CHURCH TRUST TRUSTEES. REPORT (CONTINUED) F¢)R THE YEAR ENDED S APRIL 2024 Infornmtlon on fundralslng practke• Fundraising xtiwtigs are initiated bythe Trustees ty Gokl Hill Bapttyt Church and &Iministed by Gobj Hil Churth Trust. Funds arn raisad by thé Trust throuth: Stsn("ng ordern or bank tsanslw5 by surrf1 directty to the TnBt's bank account Collections (or offering5) taken by tolectirvJ bags. plac8d in colecting at tho mr of the awjiknum or by using the QR ¢cth on the main $en at the time of the ¢ollectwJn tjonatn$ dglivgred in per¥on or by posi DonatnS ty credit OT debf< card through the 7Absile orthe contxtknss dvrfice at the entrance. No professional or CLvnrnercial fundraser has baen used by the Trust. have b80n r8ceiv8d aboul the lundrak%ing actitieS ofth8 Tr1 or arwn8 assocoW with IL 3tatsment of TNgt¢•s' rngponslblltl The Tru$tse$ arn responsible for prwNJ the Truste, rwrt and the finartJal statements in OrdanCe wth applicable and United Accounlwy StaThJ¥ds (Unile(l Kin1 General Accepted Accounting Practice). The law applicable lo charities n EngLaThJ & Wales requires the Trustees lo prepare ffinancial statements for each financial year which grrt a true fw'r of Ihg stste of affairs of the ¢hty and of the inc(ing r8source$ and 8pplrAtK>n of Tg¥oufc8s thwity for tlvt p8rk)d. In PTepwng thesg financial ststgm8nts, the Trustees are requred io.. select suitable xcounting pctties then appty them CsIStenty, obseNe the methods and prirKiple$ in tre CP•iibes SORP.. me judgments aNI xcounting estimates that are reasonab18 and prudent,. prepare the financial slatements on the going concwn baw'$ unlMs it k% inappn)priate to pr85ume that the Charity wll ¢(lInUe in Lywion. The Trustees are respMsible for keepi)g prcw aceounting records that are sufficient to show and explain the chartys transacts'ons and disdose wilh rea¥on)le accuw at any time financial position of the charity aNI enable them to ensure that the anCIal ststements corn with the Charities Act 2011. th& Charity {Accc4Jnts and Reports) Re9Llations 2CKJ8 and the pmrysion8 of Ihe 1ftt deed. They afe also responsible for safeguarding the asset5 of the charity and h•nee for takirw reasonable stws for the PTMrth)n 8nd detection of fraud ar other ifregularities. DISCIUr of Informatlon lo audltorn Each ofthe per8on$ who we Trtle8s at the bm when Trust*s' Rowl 1$ approved has confirmed that.. so far as that Tvustee is Te. Ihwe rs M rel8vant aLKIit inlomiation of whth the charitls auditors are unaware. and Ihal Trustge has t&ken dl the steps that ought to have been taken as a Trustee in order to be aware of any ielevant audit infomwtion and to establish that chartys auditcrfs are aware of that infomiation. Page 5
GOLD HILL CHURCH TRIIST TRUSTEES. REPORT ICQNTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Audltorn The auditots, Sh•w Gths (Audit) Linrted, hav8 indxated Ih8r whlingn8SS to conb.nue in oifKe. Th6 designed TNst•es yopose a molb)n re4)pJintirKJ the a1tS at a meetsNJ of the Trustees. 4wroved by order of the members d the board of Tntstees and thew behalf by. M Ryn (Chair of Trustees) Dale. Ig fyEQEttaÈR 204 Pag8 8
GOLD HILL CHURCH TRUST INDEPENDENT AUDITORS. REPO1 TO THE TRUSTEES OF GOLD TraLL CHURCH TRUST Oplnlon We have audited the financial statemonts of Gokl Hill Church Trust {the'chariW) for the year ended 5 April 2024 which comprise the Statemerrt of Fiiancial h£tivrties. the 8alan¢e Set. the Statement of Cash Flow$ and the felaled notes. including a summary of signfficant 0nting policies. The financial reporting fram8woth that has been applied in their preparin is applicle I and United Kin9dom Accountiry Standards, including Finaw81 Reporting Standard 102 The Fifi¢141 RepLKting Standard applKable in the UK and Republic ol Ireland, (United Kingdom Ger• Acxepted Ac¢wnting Pr¥Att). The financial statemwts been preparwj li wilh Accthrting Reporting ty Charities preparing their accounts in accordance with the Fiiancial Reporting StaTrJard8 applirthlp in the UK and Republi¢ of Ireland IFRS 102) in preference to the Accounting Reporting by Chaiitw.. Statent of Recommended Practice issued Dn 1 April 2005 7hich is refwred to in the ext•rt regulatv)ns but has been withdrawn. This has bean don8 in order fry the accounts to provide a true and far in accordan with the Generaly Accepted Accounting Practice effective for reptIng perrAts beginniig on oi after 1 January 2015. In our opinion thé financial statanents: a iTU• arKI fair view of the Btate of the affairn as ai 5 Awil 2024 and of lis incoming Tesource5 and application of resources for the sear then 8ndad.' have been property prepared in a¢¢ortlm United njOrn GeneTalty Accepted AccountiNJ Practice: and have been prepwed in rdartt Tth (rfth8 Chitses Act 2011. ea8ls for oplnlon We conducted our audit in aCCordare th lntematlca[ Stsndard$ on Auditing {UK) IISAS IUKII ?d applicable law. Our resrvJn8ibilrties under those standards are further described in the AuditOTS' responsibilrties for tho audit of the financial slalemenl¥ secticn of our report. We are independent of the ch in accordance with the ethkal requirgments that are ielevant to our aJIt of the fanCIal statements the Urmted KiNJdom. including the Financial Reporting ncIr8 Ethicd st¥ard. and * have lulfilled our cAher ethi¢al responsibilities in accordance with these qUIreMents. We thai the evidanra have obtained 15 sulfi¢iMI and appropriats lo prowde a b8515 for our ovn. Concluslons r•latlng to golng conc•rn In audth'ng the financial statements. we haN conduded that the Tmste&s' use rf the going ¢M¢ern basis of a¢¢ounting in the pPar41Km of the fina1 ¥tatwnents is apkYopr. Based on the work we hahp perfornwd. have not identifd any materol uncertaiities relating to events or conditions that, indNidually or collxtwety. may cast 8fjftrfant djbI ¢)n the charitV8 ability to continue as a going concern for a peritrj of at least ts¥el¥e months from when Ihe financial stalements are thOriSed for isSUB. Our wponsibilittes and the responsbilit*s of the Trustees Mfjth respect lo wing concem are describod in the relevant sections of this rgpo Page 7
GOLD HILL CHURCH TRUST INDEPENDENT AUDITORS, ftEPORT TO THE TRUSTEES OF GOLD HILL CHURCH TRUST ICONllNUED) ¢Xhor Inf(m•llon The olher infomwtK)n comprises Ihe Inform irt4uded in the Annual Report other than the financial ststements and our Audrtor5' Rewt thereon. The Trustees are respon¥ible for the other infonnation o)nlained within the Annual Report. Our opinn on the financial statements do8$ nol cover the other infomiation and, except lo the extent otherniise expkitty staed in our report. we do not express Y fom of assurance con¢lusion Ihereon. Our responsibily is to read the other infomiation and. in doing so. conswjer whether the other infomlalion is materially Innsistent WI the finan¢ial ststements or our kAe(b)e obtained in the course of the audit, or olh8pMse appaars lo bg merially misstated. If we identify such material inconsi8lencl or apparent material misstatements, we are required to detem)ine Wh this gives rise to a material misstatement in the financlal statements themselves. If. ba8•d on the work we have performed. w8 condude that there is a merial misstatement of this other 1nftxMatw, are requi1 to rewJrt that fa We ha nothing to report in this rngartl. Matters on whlch we arn requlrnd to vw)ort by u¢•p We have nothing to Teport in pect ol the folMw mattern the Charities {Accounts and Reports) Regulations 2006 roquirgs US to report to you rf. in our cyinion.. tl inf0mall given in the Tnleas. Re1 is inccfflsi¥tent in any material respect with the financial ¥ts18m8nts; or $uffi¢ient a¢UntIng ffjWTd$ have not been kept,. finar101 statements are not in agreement ith aceounting recoTds and retums.. or we ha not r8ceN8d all th8 intomiion and expknath)ns we require for our audit. R•8ponslbllltles of truth•8 A8 explained more fulty in the Trustaes. R8SpwbIh.l Statement, the Trustags ¥e rgsponsibl? for the preparation of the financial statements whth gi a true and fair view. and for such internal control as the Trusl8es detennine is ngcessary to 8nde the wepa of financi statements thai are free from material mi38tatemen( wh8th8r due to frwd or error. In preparing the financia St*tynts. the Trustees are respoNble for assessing the ¢haritys abilty lo Continue as a going cone8rn, disclosing, as applicabb. matters r8latad lo g)ing concem and using the going concern basis of accountirvj unless the Trustees either Mltend io liquidate the charty or to cease operations. or have no realistic altem&ive but lo do so. Page 8
GOLD HILL CHURCH TrUST INDEPENOENT AUtMTORS' REPORT TO THE TRUSTEES OF GOLD HILL CHLIRCH TRUST ICONTINUEDI Audllors. r•spon8lbllttl•s for th• audlt of th• tln•n¢i4 sttwMnts We havg been apwnted &s audits¥ sectK)n 144 of the clI18S Act 2011 and report in accudan¢e wilh the Act aNJ relevant regulations made or havirKJ effect thernunder. Our objectives are to obta) rèagonthlo assurance about whether the fin1 $tgmgnl$ a5 a wthole are freo from material misstatement, whether due lo fraud or effor, to issue an Auditcrf8' Report that includes our opinw)n. Reasonable assurance is a high level of assurance. but r8 not a guarantee that an audrt Gonducted in accordance with ISA8 IUKI alwa dete¢t a materol misstatement when it wsts. Misstatements can arise from Iraud or emr ar8 considered material rf, iNIMdually or in the aggregate. thw could reasonably be expected lo influence the ecorKvnic decisions ol usern taken on the basis of these financial statements. Irregularities. incIling frathl. are instances of non<rAnplian¢e TAryth l•s and gulatiOn$. We design procedures in line witti our responsOlitie8. ouuined above, to detect Material rni$stat8nts in respect of irregularities. including fraud. Tr exlenl to WIkh our wocedures capable of tstectrw irwularits. induding fraud 15 detailed below.. We gainod an understanding of the legal and reguldryy frwneM)rk applicabb8 to charity and the industry in whi¢h il operates. and considered the risk of acts by thg trust that wern corknry to applicabl& laws and regulations, including fraud. We designed audil procedures to respond to the ii8k, rttognisin9 that the risk of not detIng a rroterial misstatement due to fraud is higher than the risk of not detecting ane multing from em)r, as fraud may invOe deliberate cOncealmt ty, for example, forgery or InteiDna1 misrepre5entalions. or through collusion. We reviv laws and regul8tk)ns Wh coukl give rise to a m8leria misstaternent in th8 financial statements. Including. but not limited to. the Charits$ Ad 2011. Our tests induded agreeing th& financial statement dis¢l0$u to unding supp)rting docunPntat. enquir wlh management and erquiri of legal counsel. Th8Te are inherent limtslions in the audit wocedures describod above and, the further removed Mnwcompliance th laws and regulations is fmm the events and trans&Xions reflected in the financial staloments, the less like we would become 8W8re of it As in al ¢)ur alts. also e•Jdressed the li of manwent ¢Inlde of intemal controls. induding testing ioumals and evaluating whether there was edence of bi88 by the trustees that repre8ent•d • risk of material misstatement due lo fraud. This mckned reWeng and testing th¢ experKIrtU of the charity and that it was inline with the charity$ obie¢tive$ and f1 types aw41aN8. We dvj not identify ary key audil matters relating to irregul*ities. lUdIng fraud. A further description of our responsh)ikns for lh8 audit of the firtanaal statements is I(at8 on the Financial Reporting Councjfs web5rte at.. Thi¥ description fomis part of our ALKlitors' Rep)rt. Pa90 9
GOLD HILL CHURCH TRUST INDepeNDENT AUDITORS, REPORT TO THE TRUSTEES OF GOLD ILL CHURCH TRUST {CONTINUEDI Us• of our r•port Th¢s report is made Soldy to the charit8 trustees. a8 a body. in a¢darKe vthi Port 4 of the Charities (Accounts and Reports) Regulatn8 21J)8. Our audit work has been uTrJertaken so that might state to the charitys ITu$tee$ thosg matters we are required to state to them in Audrtors, Report and for no other purp08e. To the fullest extent pemiitted by law. we do nc accept or SuMe responsibilrty to anyone other than the ¢harity and its trustee8. as a boty. for our 8Irt wty. fry this rqYAt (for ts (pini¢)n$ we have ftmd. Shaw Glbbl (Audlt) Llmit•d Slalutory Audit¢r Wey Court West Union Road Famham Surrey GU9 7PT 20 (iolool *- Page 10
GOLD HILL CHURCH TRUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED S APL 2024 Totsl nds 2024 fvnds 2023 2024 Income from: Donations and legaues 1,096,236 1,096.236 715,878 Total Incom• 1.096,236 1.096.ZJ6 715.878 exp•ndRur• on: Charit&le activits85 1.096336 1.096,236 713.519 Total •xp•ndlluM 196.236 1.096236 713,519 N•t movem•nt In fund• 2.359 RKon¢lllatlon of funds: T¢Aal funds brought fOard Net movement in funds (2,359) 2,359 Total fund• carrlod forward The Statement ol FinclaI Arthfjti8s iludeS all wn5 losses recognised in the Yr. The notes on p4es 14 to 21 ftxm part olttr** frnKial Statth. Page11
GOLD HILL CHIMICH TRLIST &4LANCE SHEET AS AT 6 APRIL 2024 2024 2023 Debtors 44.192 803J6 34.426 47,906 Cash at bank and in hand 124.448 82.332 Crethtors.. aThnts falliw on• 1124.448) 182.332) N•t curr•nt a••ots Tatal n•t a•84ts The finan01 $t*ments were approved for tssue ty the Trustee8 and on their )&h811 by. Raynor (Char of Tru618as) Oale 11 The notes on pagès 14 to 21 fom part of these finwKaal ststanents. Pag• 12
GOLD HILL CHURCH TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDEO S APRIL 2024 2024 2023 Cash flows from owratlng actlvltl•s Net cash $ in opery4wvJ a¢ts¥thes 32.350 (71,075) Cuh flow• from InV•sng actlvlll Not cah pvovlded by Inv•stkng athltlos Calh flow8 from financing acti¥ltl•8 Not cash pvovlded by financlng actlvftl Change In ¢a•h and cash equlval•nts In the year Cash and cash equivalents at Ihe beginni¥J Of 32,3SO 47,906 171,076) 118.981 ash and cash •qulval•nts at th• •nd of th• y•ar 80.256 47,906 The notes on pages 14 to 21 form part Ofthesefinancl statsmen Pag• 13
GOLD HILL CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 G•ner•l Informatlon Gold Hill Church Trust (registered number 289179} is an unincorporated charity registered with thg Charity Commission in Eland and Wales. The pnnci)te office address 1$ Gold Hill Bapts'st Church. The Hub. Church Lane. Chaffont St Peter. 8ucknnghamshire, SL9 9RF. Accountlng pollcl•s 2.1 BMIS of prnparntlon ol financlal stat•ffl The financial Statements have been prepared in accordance with the Charities SORP (FRS 1021- Accounting and Reporting by Charrties.. Ststement of Re¢cffimended Practice applicable to chanlies preparing their accounts in accordance ith the Financial R8ports"ng kndard èpplicable in the UK and Republic of Ireland IFRS 1(r21 (effective 1 January 20191. the Financial Rewrting Standard applicable in the UK and RerAknhc of lrnLrynd (FRS 1021 and the Chaiith?s Act 2011. The financiai statements have been prepared to give a Irue and ha¥8 departgd from the Charities (Accounls and Reports) Regulations 2CK)8 On to the extent required to provide a Yn and fairf view. TIM'S departure has involved foN(rMng the Charities SORP (FRS 1021 published in October 2019 rathw th8 Accwntir¥J RgpoFtiry by Charities.. Statwnent of RQMmended Practice effective from 1 April 2005 whKh h8$ swKe been withdrawn. Gokrf Hill Church TnAt meds definm)n of a publc benefit entity under FRS 102. Assets and liabilib'es we initiaty roceqnr¥gd at ho1(xKal wst or trans¥tK>n v&lJe unless otheprtise 8tated In Ihe retevant accountry 22 Incomo All income is recognised Ce the Ctrwty has entitkment lo the income. rt pn)babl8 that tho inc¢yne wll be received and the amount of inc¢xre rKeivable can bo Measu reliabty. 2A Exp•ndSlur• Expenditure is recognised once there 15 a legal or constructive obligation to transfor econorr¢ benefit to a third party. it is probable that a transfer ol eCOrnIC beneffts wll be required in settlement and the anounl of the obligat'on be measured rehabty. Expenditure is classified by athvrty. The costs of ea¢h a¢tNty a made up of the totd of dire¢t ¢4)sts and shwed costs. irKluding support costs in¥ts%MI in undertaking each Kb4ryty. Dired costs attributab lo a Single actwity are allocated directly to that xtmty. Shared costs which c(tribLrte lo more Ihan one actiiAty and support costs which are not albUl•ble to a siTrJle actiwty are apportK)ned belween those activities on a basis consistent with the use of resour¢e$. Central $taff ¢o$ts a allo¢ated on the basis of time spent. and depreciation charyes allocaw on tho portw rfthg asseY$ usa. Expenditure on charrtable aclMti8s is incurred on directly undertaking the activiti9s which further the Charty$ obie¢tNes, as w¢U as any ass¢xd support ¢osts. Al expenditUTe rKlusiva ol Yrecoverable VAT. 14 D•btorn Trade and other deblcvs arn tecogntsed at the settlWt anvJunt after any IT4de digcount offered. Prepayments are valued at the net ol any trade dr4counls dug. Page 14
GOLD HILL CHURCH TRUST NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 6 APRIL 2024 Accountlng polklm Iconllnu•J) 15 Cash at bank and In hand Cash at bank and in hd iludeS cash and 8hort4emi h3Ny liquid investments wilh a short maturity ofthree m¢)nth$ or I frcm de ol acquisilK or (lning ot the dewjsit OT similar accounL 2.6 Llabllltl•s and provlsk•ns LiobihtI a re¢crfJntsed when thwe r4 an JatKIn al the Balance Sheet date as a result of a past event, it is probable that a transfer of econom benefft wiu be required in settlement, and the amount of the settlement can be estimated reliatty. Liabih'ts re¢tyJni8ed at the amount that lh& Chwity atPate$ it will pay to setue the debt or th8 amount it has received as advanced payments for the 9D¢S or services it must provide. PrDvkiions are at the best estvne of the amounts required to setllg the obligation. Where the effect of the time IJe of money is material. the prowsM)n is based on the present value of those amounts, discryJnl•J at the pr& dk8count rnte thal reftects the risks 8pecffic to the liability. The unwinding of the disewnt ts recc3ni58d in the Statem8nt of Financial Actiwknes as a finance co81. 2.7 Flnan¢lil 1n8trufflts The Charty On has financial assets MI finaTra1 liabiliti85 of a ktrMI that qualfy as bas financlal instruments. Basic financial instruments are initialiy Tecognised at transacti value and subsequent measured at their settlement vaue with the exceplion of bank loans whth are subsaquently measured al amortised cost usin9 the effectNe interest mth. 2.8 Fund accountlng Restrided funds are funds which arn to be used in accordance with Spe¢rf restri¢tion$ imposed by donorn or which have l)een rnised by the Charity for particular Puryes. The costs of raising and admini8t8riry Buch luThls are charged against the fvnd. The ain and use ol each reStrted fvnd 1$ 801 out in the notes to the finarla1 statemgnts. Page 15
GOLD HILL CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED S APRIL 2024 Incomo from donatlons and l•g•d¢• Réstrl¢t•d funds 2024 Total funds 2024 DonatiTh 1.096.236 1.096.238 Restiicted Tot81 2023 2023 Donatic*)s 715,878 714878 Analpl• of •xpendlture on GlI1•blO actlvili•s Summary tyfund type fvnds 2024 Total 2024 Direct costs 1.096,236 1,096,236 funds 2023 Total 2023 Direct costs 713.519 713.519 Page 18
GOLD HILL CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2D24 An•lysh of •xp•ndltur• by acthiiti•S Actlvllhs und•rtak•n dlr•cty 2024 Support Total lunds 2024 2024 Grnnts to Gohj Hill Church 1.091.375 4.661 1,096,236 To181 cosls 2023 3x23 2023 Grants lo Gold Hil Church 709.508 4,010 713,518 Anaty$ls of dlrnGt ¢osts Total funds 2024 Actlvltles 2024 Gener41 grants to Gc4J Baptist Churth Mission grants to Gold Hil Baptsi Church Followship grants lo Gold Hill Church 1.086.047 1.086.047 3,794 1.091.375 1,091,375 Total funds 2023 2023 General grants to Gokl Hill 8•)li8t Church Mission grants to Goj Hi eapb'st Church Fellowship grants to Gdd Hill 8apkn.st Chur 686, 793 2. 790 19.925 686. 793 2.790 19,925 709,508 709.508 Page 17
GOLD HILL CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 5 APRIL 2024 Audllors. ramuneratlon The audrtors. remuneration awK)unts to an fee of £3.780 {2023- £3.54Q. Tru8t•os' r•munorntlon and expgn During the r, no Trustees received any remunwatw orother benefts (23- £NIL). During the ygar orKled 5 Aprl 2ry24. no Trustee expenses hm been incurred f2023. £NIL). D•btorn 2024 2023 t0 wlthln one ymr Other debtors 44,192 34,426 Cv•ditor•: Am¢)unts falling vAthin on• y 2024 2023 A¢¢nRL8 and deferred in¢0 124,448 82,332 Page 18
GOLD HILL CHURCH TRUST NOTES TO THE FINANCIAL sTATEMEPs FOR THE YEAR ENDED 6 APRIL 2024 10. Slatemont of fund• Statoment of funds- current ymr Incorne Exp•ndltur• Re•trIct lund• Restricted Fund 1,096,236 11,096,236) Statement of funds- prlor ygar l 20Y2 Incle Expenditu R•Btrlct•d fundry Restricted Fund (2.359) 715.878 (713,519) 11. Summary offund• Summary offvnds- curr•nt year Incom• Expondltur• Re51rict&J funds 1.096.236 11,096,236) summary of fund$- prlor yoar 8&lance at l 2022 Rtricted funds (2.359) 715.878 (713,519) Page 19
GOLD HILL CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THe YEAR ENDED 5 APRIL 2024 12. Analysls of net assets between funds Ana1$ of not aM•ts bethwn fd$. ¢urr•nt wrfod Restrfct•d funds 2024 Total funds 2024 Current assets Creditors due wilhin one 124.448 124,448 (124.448) 1124.4481 Total Analysls of n•t assets bglwegn ld. prlor wiod Total lunds 2023 funds 2023 Curr8nt asB8ts Cr8ditor8 due wilhin one 2,332 (82.332J 82,332 (8Z332J Total 13. Roconclllatk•n of net m•)v•ment kn funds to n•t ca•h 11(wlmm op•ratlng actlvltl 2024 2023 Nel incom for the period (as per Stat&Thnt of Fin8*K$81 Acb¥ilies) 2.359 justmnts for. Dease111ncreaSe) in del InUe#@{drea58l in cre(lrto 19,7661 42.116 17.429 (90,863) N•t cmh Pfovld•d byl(uMd In) owatlng actl¥i 32,3SO (71,075) Page 20
130LD HILL CHURCH TRUST NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 14. An•ty•ls of ¢ash and ¢48h oqulvaknts 2024 2023 Cash in hwKI 80,256 47.906 Total cash and ¢•8h equlval•nts 80,256 47,906 15. Analpls of Chaw In not d At 6 April 2023 Cash flo At S Aprll 2024 Cash at bank and in hand 47.906 32.360 16. R•lalad PArty trnniactlons Al grants are made lo Gotd Hill ChLKth in xc¢xdano with Ihe obje¢tis ofth¢ TrL 17. Controlllng party There is no ultimate controllwy paty. 11. Logal Statu• The charity IB r•gister8d vAh Ihe Chwty C¢xMiissJn in Erwjland arwj Walos. Its r8gislered oifice is clo The . Gohl Hill B*t Chur¢h. Chur¢h Lano, Chalont SL P8ter, Buckinghamshire. SL9 9RF. Page 21