**Charity registration number 294481**
## **THE HANANIAH CHARITABLE TRUST**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2022**
## **THE HANANIAH CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mr S H Smith Mr S Smith Mrs N Hogeboom **Charity number** 294481 **Principal address** Keswick Church Hanborough Witney Oxfordshire OX29 8AA **Independent examiner** Chapman Worth Limited 2 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY
## **THE HANANIAH CHARITABLE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1|
|Independent examiner's report|2|
|Statement of financial activities|3|
|Statement of financial position|4|
|Notes to the financial statements|5 - 11|
THE HANANIAH CHARITABLE TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2022
The trustees present their annual report and financial statements for the year ended 5 April 2022.
The financial slatements have been prepared in accordance with the accounting policies set out in note 1 to
the financial statements and comply with the chariWs Igoverning documenti. the Charities Act 2011 and
"Accounting and Reporting by Charilies.. Slalement of Recommended Practice appli¢able to chantios
preparing their accounts in accordance wth the Finanaal Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021. (effective 1 January 20191-
Objectives and activities
The main charity objective is to provide financial support to low paid missionaries and their families and their
work and to prov1de financial support where thought necessary lo other deserving causes.
The trustees have paid due regard to guidance bssued by the Charity Commissbon on public benefit in
deciding what actlV1ties the charity should undertake. Having reviewed their assessment of the major risks lo
which the charity is exposed. the Trustees are sabsfied that systems and procedures are in place to miligale
the charily's exposure lo the major risks.
Achievements and performance
Having PLJrsued the main obieclives of the charity. the Trustees are able to Teport that gifts and donations
lotalling £18.950 12021 £17.3671 were paid out during thè year. Ounng the year the trustees purchased a
property costing £403.158. to lurther diversify the investments held by the charity and to secure regular
income to use for charitable purposes in the future.
Flnancial rÈview
11 Is the policy of the Trustees to maintsin sufficienl reserves in the general fijnd to continue to meet the
Charity's objects lor a foreseeable period, even il there were a decrease in ils incoming resources. Freely
available reserves totalled £92.903 as at the 5th April 2022. The reserves policy is lo hold freely available
reserves of two years expenditure lo ensure reserves are available lo meet the tharitab objectives and any
unanticipated repairs required on Ihe rentsl propety-
Structurè. govemance and management
The charity Is an unincorporaled charity regislered with the Charilies Commissiors for England and Wales.
The trustees who serve(I during the year and up to the date of signature of the finaneial statements were..
Mr S H Smith
Mr S Smith
Mrs N Hog&boom
The management of the charity is the resp)nsibility of the Trustees and their status has not changed since the
lasl report.
The tru51ees' report was approved by the 803rd of Trustees.
Mr S H Smlth
Trustee
Dated".
THE HANANIAH CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE HANANIAH CHARITABLE TRUST
I report to the trustees on my examination of the financial statements of The Hananiah Charitable Trust (the
charity) for the year ended 5 April 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity's financial statements carried out under section 145 of
the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the
Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with
the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act"
or
the financial statements do not accord with those records. or
the financial statements do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a true and fair view which is not a matter considered as part of an
independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the financial statements
to be reached.
A Chapman (FCA)
Chapman Worth Limited
2 The Old Estate Yard
High Street
East Hendred
Wantage
Oxfordshire
OX12 8JY
Dated:
## **THE HANANIAH CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 5 APRIL 2022**_
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|
**funds**|
|||**2022**|
**2021**|
||**Notes**|
**£**|
**£**|
|**Income from:**||||
|Donations and legacies|**3**|63,901|
61,000|
|Investments|**4**|8,919|
1,037|
|**Total income**||72,820|
62,037|
|**Expenditure on:**||||
|Charitable activities|**5**|25,517|
20,347|
|Net gains/(losses) on investments|**9**|6,234|
94,448|
|**Net movement in funds**||53,537|
136,138|
|Fund balances at 6 April 2021||790,870|
654,732|
|**Fund balances at 5 April 2022**||844,407|
790,870|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 3 -
THE HANANIAH CHARITABLE TRUST
STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2022
2022
2021
Notes
Fixed assets
Invesiment properties
Investments
10
11
403,158
349,348
703.088
752.506
703,088
Current assots
Debtors
Cash al bank and in hand
13
12.800
80.103
11,975
76,767
92,903
88.742
Crgditors: amounts falling due within
onè year
14
11.002}
19601
Nel current assets
91.901
87,782
Total a55ets less Current liablliti¢s
844.407
790,870
Income funds
Unreslricled funds
844.407
790,870
844.407
790.870
The financial s
ments were approved by the Trustees on .
Mr S H Smith
Trustee
## **THE HANANIAH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 5 APRIL 2022**_
## **1 Accounting policies**
## **Charity information**
The Hananiah Charitable Trust is an unincorporated charity registered with the Charities Commission for England and Wales.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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)” (as amended for accounting periods commencing from 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 applying FRS 102 Update Bulletin 1 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 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.
## **1.4 Incoming resources**
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.
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.
- 5 -
## **THE HANANIAH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Resources expended**
All expenditure is recognised on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be reliably measured. Expenditure is categorised under the following headings:
-Expenditure on charitable activities includes the costs of activities undertaken to further the purpose of the charity.
-Support costs are those costs incurred during activities that are no directly associated with the purpose of the charity.
-Governance costs are the costs associated with the governance arrangements of the charity.
## **1.6 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
## **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.
## _**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.
- 6 -
**THE HANANIAH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_
## **1 Accounting policies**
## **(Continued)**
## _**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.
## **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.
## **3 Donations and legacies**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Donations and gifts|63,901|61,000|
- 7 -
## **THE HANANIAH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2022**_
## **4 Investments**
|Rental income
Income from listed investments
**5**
**Charitable activities**
Charitable expenditure
Share of support costs (see note 6)
Share of governance costs (see note 6)
**6**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Investment portfolio
charges
3,545
-
Bank fees
25
-
Property repairs
115
-
House insurance
1,880
-
Accountancy
-
1,002
5,565
1,002
Analysed between
Charitable activities
5,565
1,002|**Unrestricted**Unrestricted
**funds**
funds
**2022**
2021
**£**
£
6,600
-
2,319
1,037
8,919
1,037
**2022**
2021
**£**
£
18,950
17,367
5,565
2,020
1,002
960
25,517
20,347
**2022**
Support
costs
Governance
costs
2021
**£**
£
£
£
3,545
2,020
-
2,020
25
-
-
-
115
-
-
-
1,880
-
-
-
1,002
-
960
960
6,567
2,020
960
2,980
6,567
2,020
960
2,980|
|---|---|
Governance costs includes payments to the accountants of £1, 0 02 (2021- £ 960 ) for the independent examination .
- 8 -
## **THE HANANIAH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration , benefits or reimbursed expenses from the charity during the year.
During the year the charity received unrestricted donations totalling £ 51 , 2 00 (202 1 £ 48 , 8 00) from trustees.
## **8 Employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
- 9 -
## **THE HANANIAH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_
## **9 Net gains/(losses) on investments**
||**Unrestricted**|Total|
|---|---|---|
||**funds**||
||**2022**|2021|
||**£**|£|
|Revaluation of investments|6,234|94,448|
## **10 Investment property**
|**Fair value**
At 6 April 2021
Additions through external acquisition
At 5 April 2022|**2022**
**£**
-
403,158
403,158|
|---|---|
Investment property comprises of a residential property . The fair value of the investment property has been included at market value derived from the purchase price of the property acquired on 30th September 2021. The trustees deem this cost value to represent the fair value of the property as at the 5th April 2022.
## **11 Fixed asset investments**
||**Listed**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 6 April 2021|703,088|
|Additions|2,319|
|Valuation changes|6,234|
|Charges|(469)|
|Disposals|(361,824)|
|At 5 April 2022|349,348|
|**Carrying amount**||
|At 05 April 2022|349,348|
|At 05 April 2021|703,088|
- 10 -
## **THE HANANIAH CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_
|**12**
**Financial instruments**
**Carrying amount of financial assets**
Instruments measured at fair value through profit or loss
**13**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**14**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2022**
**£**
349,348
**2022**
**£**
12,800
**2022**
**£**
1,002|**2021**
**£**
703,088
**2021**
**£**
11,975
**2021**
**£**
960|
|---|---|---|
## **15 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none) .
- 11 -