## **RESOUND TRUST** **FINANCIAL STATEMENTS for the year ended 31[st] MARCH 2021** **Charity Registration Number** 294924 **RESOUND TRUST Contents** |Trust Information|1| |---|---| |Independent Examiner’s Report to the Trustees|2| |Trustees’ Report|3 - 5| |Receipts and Payments Accounts|6 - 7| **RESOUND TRUST Reference and Administrative Details of the Charity, its Trustees and Advisers** |**Governing Instrument**|Trust Deed dated 2 June 1986| |---|---| |**Change of Charity name:**|| |**Bristol Christian Fellowship to Resound Trust**|Supplemental Deed dated 29 July 2013| |**Trustees**|Mr M Baker| ||Mrs S Bennett| ||Mr N Carter| ||Mrs S Watts-Lynch| ||Mr J Cannan| |**Office**|Resound| ||Blackhorse Road| ||Mangotsfield| ||Bristol| ||BS16 9BP| ||Tel. (0117) 3050969| ||office@resoundbristol.co.uk| |**Charity Registration Number**|294924| |**Bankers**|Cooperative Bank Plc| ||Kings Valley| ||Yew Street| ||Stockport| ||Cheshire| ||SK4 2JU| ||Kingdom Bank Ltd| ||Ruddington Fields Business Park| ||Mere Way| ||Ruddington| ||NG11 6JS| ||CAF Financial Services Ltd| ||25 Kings Hill Avenue| ||Kings Hill| ||West Malling| ||Kent| ||ME19 4TA| ||Ecology Building Society| ||7 Belton Road| ||Silsden| ||Keighley| ||West Yorkshire| ||BD20 0EE| |**Independent Examiner**|Geoffrey Speirs, FCA| ||Haines Watts, Chartered Accountants| ||Bath House| ||6-8 Bath Street| ||Bristol| ||BS1 6HL| |**Solicitors**|Alan Hodge Law Solicitors| ||4 Castle Street| ||Thornbury| ||Bristol| ||BS35 1HB| 1 ## **RESOUND TRUST Independent Examiner’s Report to the Trustees of Resound Trust Year ended 31 March 2021** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 6 to 7. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records 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 accounts to be reached. Geoffrey Speirs FCA Haines Watts Chartered Accountants Bath House 6-8 Bath Street Bristol BS1 6HL 13 August 2021 2 **RESOUND TRUST Trustees’ Report for the year ended 31 March 2021** ## **Structure, Governance and Management** ## **Governing Document** The Charity is governed by its Trust Deed dated 2 June 1986. A Supplemental Deed dated 29 July 2013 was implemented to change the name of the Trust from Bristol Christian Fellowship to Resound Trust. ## **Statement of policies & description of organisation** The Resound Trust’s objectives are largely met through the activities of the Resound Church. A team of Leaders take responsibility for the life and health of the Church. Trustees are appointed by the Leadership Team, following recommendations from the existing Trustees and are taken through a standard induction process, which includes charity Commission guidelines and the current financial position of the charity. The Trustees are responsible for governance of the Trust, particularly its finances, buildings and equipment in accordance with the Trust deed. A management team comprised of staff members, conducts the day to day management of the Trust's affairs. The activities of the Church are organised so as to encourage authentic Christian living realistically, day by day. This is facilitated by the Church meeting in small groups called discipleship groups, as well as meeting as a congregation on Sunday mornings. ## **Pioneer Network** Resound Church is part of the Pioneer Network. Resound leaders attend the Pioneer Network. ## **Woodlands Church** Resound is part of a local association of churches in order to maintain relationships with others in the area, as well as to connect with a more local level of resourcing. Woodlands Group of Churches is a large resourcing church in the centre of Bristol that Resound has had relationship with for many years. The above represents no material change from the Church's previous objectives and policies. ## **Resound Community Outreach** Programmes that are aimed at reaching into the communities of Mangotsfield, Emersons Green and Downend have been maintained where and when possible in the midst of the pandemic. Our detached youth worker and staff youth worker continued to meet with young people on the streets when restrictions permitted. Our Two staff volunteer youth workers have a mentoring role at Downend School and Mangotsfield School that have been on hold due to pandemic, but will restart as restrictions allow. The family workers training programmes for parents have continued with ‘Hot Topic’ courses and the’ Parent Buddies’ scheme being well received. Resound has also continued to operate our local Foodbank. ## **Risk assessment** The Trustees have identified risks that the charity is exposed to and policies and actions to mitigate those are in place. This is captured in a formal risk register. Across all children and youth activities our Safeguarding Policy is actively enforced, including DBS checks on all key workers (voluntary & paid members). We have also implemented a vulnerable adult’s policy. Health & Safety policies are in place at Resound, and are annually reviewed. All outdoor activities are subject to appropriate Health & Safety policies. ## **Objectives and Activities** ## _**Mission Statement:**_ **To love and empower individuals, to love and impact the city, and to love and actively care for the world.** The Trust Deed sets out the following objects and purposes of the Trust: ## _**The advancement of the Christian faith**_ - the worship of God - preaching and proclaiming the Christian gospel - teaching Christian doctrine and principles - the pastoral care of Christian people ## _**The relief of those in hardship, need or distress, or who are aged or sick**_ ## _**The advancement of education on the basis of Christian principles, for both children and adults**_ The strategies employed to meet these objects and purposes for the public benefit are described more fully in the achievements and performance section. 3 ## **Advancement of Religion for Public benefit** The trustees continue to have regard for the Charity Commission’s guidelines on public benefit. The information set out below under the Achievements and Performance heading demonstrates how the trust benefits the wider community by providing support to many: spiritually, practically, and financially. Resound continues working in partnership with a large number of other churches, as well as a wide range of charities and statutory agencies, in order to further enhance the lives of those we seek to serve. ## **Achievements and Performance** Resound’s vision statement reflects our DNA as “A gathered community, powerfully Spirit filled, and graciously outpouring”. This DNA has informed our mission is to become “A church that loves and empowers individuals, loves and impacts the city, and loves and actively cares for the world”. Specifically this means: ## **OUR COMMUNITY** - We express Jesus’ love in caring for our community through finding practical ways to help and support those around us. - Resound is a community of all ages drawn together from the local area, sharing our lives together. - We create opportunities for everyone to be involved and encourage people to take initiative in participating and giving evidence of practical love in action around us. ## **A COMMUNITY WITH ENERGY AND PURPOSE** - We expect there to be life in our walk with God. - We are excited about what God is doing amongst us and expectant about what He is going to do. - We work hard to ensure this excitement and energy is infectious, sparking faith and encouragement in one another. - We are a creative community, engaging all five senses in our meeting and worship together, and are open to new ways of being church together. ## **A COMMUNITY WITHIN THE COMMUNITY** - We express Jesus’ love in caring for our community. - We make a positive impact on the community by finding practical ways to help and support those around us Resound continues to work with and support its Global & Local partners. ## **Global Partnerships** Care for Zambia Partner’s Relief & Development UK The Bridge Trust Limited YWAM - Naomi Hulford ## **Local Partnerships** inHope (Bristol) Limited Parent Buddies Crossways Preschool ## **Home Church** Through the last 12 months Resound has continued to play a vital role in the locality, and even in the midst of pandemic have maintained a strong sense of both Christian fellowship (though online content and connection via Zoom and telephone etc), and support for the local community. The following are illustrative of the breadth of some of our services: - Resound Sunday meetings have continued to evolve in response to the current climate - Resound continues to offer spiritual and pastoral help and support to those inside and outside the church. Resound has continued to offer marriage, funeral and child dedication services for local residents within government guidelines. - The Resound Foodbank has continued to operate, and has met the increased demand brought on by the effects of the pandemic, changing to a delivery service as maintaining public safety made in person collections difficult. - Resound’s family work continues to offer support to families in crisis. We deliver a range of targeted parenting courses alongside a number of bespoke group sessions under the heading of “Hot Topics”. Our listening service “Parent Buddies” has continued to grow. The Toddlers group was paused due to restrictions, but has since restarted and also continues to grow and support needs in the local community. - Due the pandemic Resound has put on hold some of our gathered community outreach, such as our monthly Funday Sunday programme, Later, and the annual C in the Park, but plans to resume these as restrictions are lifted. - We have offered online (Zoom) discussion groups in place of our traditional Pub Theology gathering, which have been well attended and appreciated ## **Children, Youth and Young Adults** The Resound Youth work team continues to plan and deliver an evening service once a month and a weekly youth small group using a variety of formats to encourage group interaction (Zoom and in person). Detached youth work continues to develop contacts with local young people. Resound has taken on a Children and Families Intern (South West Youth Ministries), starting in September, for an initial two years, to focus on working with younger children and their families, both in the church and in the community. She has used the time during Covid restrictions to focus on connecting with children and families via Zoom, telephone, and where appropriate, in person, and has taken over the running of our Toddlers Group as we restarted it. 4 **RESOUND TRUST Trustees’ Report for the year ended 31 March 2021** ## **Financial Review at 31 March 2021** ## **Accounts Basis** The accounts have been prepared under the receipts and payments basis. The accounts comply with the legal requirements, being that the gross recorded income from all sources did not exceed £250,000 and that the charity is not a company incorporated under the Companies Act. ## **Ongoing Operations** The operational performance of the Trust shows income for the year of £155,088, (2020 £172,284) whilst expenditure was £137,984 (2020 £169,730). These figures include restricted funds, such as giving for our Local & Global Partners. Restricted Fund income will by definition always have a matching expenditure item, albeit there may be some phasing which spreads the cost between financial years. Considering the Unrestricted Funds, which are a reflection of the Trust’s ordinary operations, income was £139,701 (2020 £156,230) and the associated costs were £122,426 (2020 £150,359). The Trust’s overall income has decreased in the year, though only a little from a fall in donations, it was largely due to a fall in rental income. This was very low due to the pandemic when Resound operated within government guidelines when almost no indoor activities could take place. The costs have also decreased mainly due to very little activity taking place in the building. The Trust had sufficient funds to enable us to fulfil our obligations in the reporting year. The vast majority of income is given by members of Resound. This year a significant part of income has come from the Coronvirus Job Retention Scheme as 4 members of staff were placed on furlough during the year. An Additional Restrictions Grant was also received from South Gloucestershire Council. As in previous years, our largest regular operational expense (67%) continues to be the support of Christian Workers in Bristol. The trustees are grateful for God’s provision through those who support the Trust financially and by generously volunteering their time and skills. Without this support the trust simply would not exist. The trustees also thank the staff for their commitment and drive in taking forward Resound over this last year. ## **Fixed Assets** The Trust’s principal fixed asset is its building which includes an auditorium, offices, conference space, a café area and a preschool. ## **Reserves** The reserves policy is to hold a reserve to cover six months running costs, which currently amounts to £75,757. The Trustees are continuing to work with the Leadership Team to determine a plan to use any excess reserves to fund activity to further the charitable objects of Resound. An amount of £50,000 has been designated for a Housing Initiative for which work is in progress to find the best way to use this money to support the trust's objectives. ## **Investment & Ethical policy** Apart from bank accounts, the Trust has no financial investments or investment property. It holds accounts with banks that are judged to be more ethically based and has spread its capital in order that no more than £75,000 is held with any one financial institution. Policies are in place for the ethical and sustainable operation of the Trust. Throughout the Resound build programme close scrutiny was given to the sourcing of materials and energy usage in the new building, and this continues as part of its maintenance. ## **Related Party Disclosures** Trustee, Sarah Bennett is the Manager of Crossways Pre-School. Her husband Mike Bennett is part of the Leadership Team Trustee, James Cannan is part of the Leadership Team and a Resound a staff member. J Cannan received expenses in respect of his employment during the year, not as a Trustee. Nigel Carter 13 August 2021 Chair of Trustees 5 CHARITY COMMISSION FOR ENGLAND ANO ¥VALts Resound Trust No. 294924 Receipts and payments accounts CC16a For ihe penod Irom 3110312020 To 3110312021 Section A Receipts and payments Unrestricted funds Restricted funds Endowmoni lur*ds Total funds La51 year 31.3.2020 tolhe neareBt É to the neHe•t £ to the n&qre•t É lothe n￿r￿1 É A1 Receipts r(the$. Offenngs & Dor￿0 Grfl & GASDS Grant8. Coronavinls Job RetentKn Sch . S Councl fhscreticnory 85.182 18,996 13.25 4.736 390 1.648 10.218 5.273 11238 1.149 gY.420 20.145 13258 4.736 390 IOJ.B75 23,414 2.817 19.346 17.966 4.846 ftenw of prem￿e* & CafélBar at events ChamaNe A¢tvmes Inc¢mE frDm Investrnents 10218 5.27J Sub total{Gr￿$S income for ARI 139,701 15.367 155.088 172.284 A2 Ass•t and inv•stm•nt sal•s, Is•• Libl•l. Sub total Total r¢¢eipts 139.701 15.387 155.088 172,284 A3Pa ents Payrol. NDtwal InswwKe & PereJK Grants for Chnsb&n WL¥ nts for Chri$b&n Wcykers Swryt of 8 14Wy Travel & AcCLYnf￿￿jation c*enNJ Art Sw￿leS. Olhce Cogts, AdVert￿1r*) & Athrk Licences I sub5cnpt￿ns Vblrtts & Premises ren Property& Equipment Trainin9 & Ca4(Erence Fee Intsutsnte Legs & Profe￿￿￿ Fe Independent Examinats 90.119 2.900 1,200 1.200 1.443 $67 1.632 2.288 7,261 3.451 4.666 4,516 427 756 90.119 10.290 102.66J 21.818 1,913 5,516 158 9,281 ?.993 1.340 7.368 5.156 S.023 4.394 599 1.308 7.390 1.246 6.922 .122 1.44J $67 1.632 2.288 7.261 3.451 4.516 427 756 Sub total 122,426 15.558 137.984 169.730 A4 Asset and investhient urchases. see table Sub total Total payments 122.426 15.55B 137.984 169.130 N¢t of re¢•ipts/(paym¢ntsJ A5 Translers between lunds A6 Cash funds lasi y•ar •nd Cash funds this year end 17.275 171 17.104 2.554 200.943 218.138 94 201.037 218.141 228.979 231.533 Tr4nsfws b¢twe¢n fund5 Christian Work _ Unrestrict Restricted 80.IXI AOJi1￿￿ 911 to Chn51mas 0llerThJ Ny•a Oth•r M 4Mr.2D 31*r.21 16.922) Is. 1S.SS8 178 178 Section B Statement of assets and liabilities at the end of the period Unresviaed funds to the•re•t £ Restricied funds Endowwni funds to ne•te#t D•lails B1 Cash funds C••h at eart & in haTrJ 218.138 Total cash fvnds 218,138 R•stricted fund5 Endowm•nt funds funds Details to newe•tf to Thewe¥i £ to neare￿ f 82 Other monelary assets Ftwbd towhich ￿10 Details Cotsi lopiioMII Cwrent value B3 Inv•stm•nt ass•ts Fwbd to which •88et belo Colt loptyonoD Cwrent val iional [￿till$ L￿J & BwkJing¥ B4 Ass•ts r•taln•d for th• charity's own use iknresthded 914.￿1 Aant & E4uikYYW* i￿r￿tr￿ed 1,274 F￿￿Te$, Filb"r￿ & Furn￿re re8thded F￿d towhich liabili relates •4nouDt due then( Detalls 85 Liabiliti•s Signalwe Print Name Dale val ned ty N Carkn ￿ tehaff of all the trLtslees N￿1 Cater 13 8 X121