**Charity Registration number – 298342** ## **KIRIATH TRUST** **Trustee's report and financial statements** **for the year ended 4th April 2024** **KIRIATH TRUST** ||**Page**| |---|---| |**Contents**|| |Trustees’ report|1-4| |Independent Examiner’s report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Financial Statements|8-10| ## **Kiriath Trust Trustees' report Charity Registration number - 298342 for the year ended 4th April 2024** **Report of the Trustees for the year ended 4th April 2024** ## **1. Governing Instrument** The Kiriath Trust is a registered charity and was formed under a Deed of Trust dated 20th February 1987. ## **2. Registered Number** The charity is registered with the charity Commissioners under registration number 298342. ## **3. Registered Address** Windrush, Thames drive, Charvil, Reading, RG10 9TP ## **4. Trustees** The following were trustees at the beginning of the year: - DR. J M Madgwick - Mr. N C Tinker - Dr Jill Hill ## **5. Trust Objective** - a) The advancement of the Christian Faith. - b) The relief of persons in need, hardship or distress, or who are aged or sick. ## **6. Activities** During the year the charity received gifts and income amounting to £38,983 and made gifts and incurred expenses in accordance with its objectives in the sum of £70,491. A record of the main activities of the trust is included within the attached summary. ## **7. Professional Advisors** - Solicitors ▪ Mr. R Snowdon - Rutters Solicitors - 2 Bimport - Shaftesbury - Dorset SP7 8A Page 1 **Kiriath Trust Report of the Trustees (continued) for the year ended 4th April 2024** ## **Record Of Main Activities** ## **Properties** The Trust owns four properties; 12 Wispington Close, 4 Bridport Close, Kingfisher Drive, and Headley Wood East, all four houses are now used as halfway homes as part of its objective of supporting Yeldall Christian Centres in its drug rehabilitation work. Three are let to Yeldall Christian Centres and one to Hope Into Action Rental income of £29,040 was received during the year. Each of the properties are occupied by individuals in need and the rent is subsidised in furtherance of the trust’s objectives. £12,342 was spent on management, water rates, repairs, maintenance, insurance and services. The existing properties were last formally revalued in 2023 and were assessed to have a value of: Wispingtom Close: £385,000 Kingfisher Drive: £375,000 Bridport Close: £365,000 Headley Rd East: £395,000 According to Nationwide and HSBC, and despite the pandemic, Property prices have risen circa 1.33% during the year and an increased value is proposed as follows: Wispingtom Close: £390,000 Kingfisher Drive: £380,000 Bridport Close: £370,000 Headley Rd East: £400,000 The trust now manages all the properties directly avoiding all managing agent costs. The houses will be revalued formally next year. ## **Gifts and Donations** The trust received £2,684 in contributions towards the running costs of its minibus. ## **Other Income** The trust received interest of £792 on its various bank balances. ## **Administration** Mrs. H Tinker is employed as a part-time administrator but no longer draws a wage. Total administration costs in the 2023/2024 year amounted to £278 and an accountancy fee of £1,565 is yet to be accrued. Page 2 ## **Kiriath Trust Report of the Trustees (continued) for the year ended 4th April 2024** ## **Minibuses** The minibus was replaced seven years ago with a new 14-seater Ford minibus. The minibus is located at Wycliffe church during the year and the church administered bookings and day-to-day maintenance. The minibus is now valued in the books at £840. Running costs of the minibus were £3,228 including £1,418 insurance. The minibus is insured on a fully comprehensive basis. ## **General Gifts and Donations** - The trust gave £33,400 in gifts during the year. - Gifts of £5,400 were given to various Reading schools programmes. - £6,000 was given to the Mustard Tree for its work supporting young people into work training and work. - A regular gift of £3,000 was given to Yeldall to support drug rehabilitation work. - A £1,200 gift was given to JAC. - £1,650 was given to Still The Hunger - £2,750 was given to Hope into Action and £2,400 to the Create Hope Charity. - A one-off gift of £1,000 was given to Home Counselling. - A gift of £3,600 was given to Hope and Vision towards their work in supporting move-on housing for drug addicts. - £2,400 was given to St Agness PCC and £1,200 was given to support Time to Talk. - Ongoing gifts of £2,800 were given to Chapter 2. ## **Surplus/Deficit for the year** There was a deficit of income over expenditure in the year of £18,657. After taking into account the revaluation on the 4 properties and the minibus, the balance sheet of the Trust at the 4th April 2024 was £1,615,259, an increase of £1.3k over FY 2023. ## **Trustee's responsibilities in relation to the financial statements** The Trustees are responsible for preparing Trustees' Report and the financial statement in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and the application of the resources of the charity for that period. Page 3 ## **Kiriath Trust Report of the Trustees (continued) for the year ended 4 April 2024** In preparing these financial statements, the trustees are required to fulfil the following responsibilities: - Select suitable accounting policies and then apply them consistently. - Observe the methods and principles of the Charities SORP. - Make judgements and estimates that are reasonable and prudent. - State whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and - Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of the fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Approved by the trustees on 18 July 2024 and signed on their behalf by: ## Chris Tinker Chris Tinker (Jul 22, 2024 09:12 GMT+1) **Signature** Mr NC Tinker Trustee Page 4 ## **Independent Examiners Report for the Trustees of Kiriath Trust** ## **for the year ended 4th April 2024** I report on the accounts of the charity for the year ended 4 April 2024, which are set out on pages six to eleven. This report is made solely to the trustees of charity, as a body. My examination work has been undertaken so that I might state to the society’s members those matters I am required to state to them in an examiners’ report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the society and the society’s members as a body, for my work, for this report, or for the opinions I have formed. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011(the Charities Act) and that an independent examination is needed. It is my responsibility: - To examine the accounts under section 145 of the Charities Act; - To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and - To state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: - 1) Which gives me reasonable cause to believe that in any material respect, the requirements to keep accounting records in accordance with section 130 of the Charities Act and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met or - 2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mr Ganga Lal Bhusal FCCA Goldstar Accountants Ltd 63 London Street Date: 18-July-2024 Reading, Berkshire RG1 4PS Page 5 ## **Kiriath Trust** ## **Statement of Financial Activities** **for the year ended 4th April 2024** The notes form part of these financial statements Page 6 ## **Kiriath Trust Balance Sheet** ## **As of 4[th] April 2024** Approved by and signed on behalf of the Charity. ## Chris Tinker Chris Tinker (Jul 22, 2024 09:12 GMT+1) **Date:** 18-July-2024 **Signature Name: Mr. N C Tinker Position: Trustee** Page 7 **Kiriath Trust Notes to the financial statements** **for the year ended 4th April 2024** ## **1. Accounting Policies** ## **Basis of Preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities. Statement of Recommended Accounting applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). ## **Incoming Resources** All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. ## **Resources expended** Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. ## **Taxation** The charity is exempt from Corporation Tax on its charitable activities. ## **Fixed Assets** The charity's fixed assets are shown in the accounts at their net book value, being cost net of accumulated depreciation. Depreciation is provided as follows: **Commercial Vehicle 30 % reducing balance Freehold Properties Fair value basis** ## **Funds structure** Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. Further explanation of the nature and purpose of each fund, where material, is included in the notes to the financial statements. ## **2. Trustees** None of the trustees (or any persons connected with them) received any remuneration or reimbursed expenses during the year. ## **3. Employees** There were no employees during the year. Page 8 ## **Kirath Trust** ## **Notes to the Financial Statements** ## **for the year ended 4th April 2024** Page 9 ## **Kirath Trust** ## **Notes to the Financial Statements** ## **for the year ended 4th April 2024** Page 10 ## 2024 Trust Report (002) Final Audit Report 2024-07-22 Created: 2024-07-17 By: Goldstar Accountants (accounts@goldstaraccountants.com) Status: Signed Transaction ID: CBJCHBCAABAA-4RztblKxlo6u5r6RjHBJmm7-_lDKoOv ## "2024 Trust Report (002)" History Document created by Goldstar Accountants (accounts@goldstaraccountants.com) 2024-07-17 - 10:54:28 GMT Document emailed to christopher.tinker@outlook.com for signature 2024-07-17 - 10:54:59 GMT Email viewed by christopher.tinker@outlook.com 2024-07-17 - 12:28:12 GMT Signer christopher.tinker@outlook.com entered name at signing as Chris Tinker 2024-07-22 - 08:12:08 GMT Document e-signed by Chris Tinker (christopher.tinker@outlook.com) Signature Date: 2024-07-22 - 08:12:10 GMT - Time Source: server ## Agreement completed. 2024-07-22 - 08:12:10 GMT