Annual Reportand Statement of Accounts Fortheyearended 31 Oecember2023 GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) CharityRegistration 305954 CompanyRegistration00713487(EnglandandWales)
GREEN HILLSCHRISTIANTRUSTLIMITED (A COMPANY LIMITED BY GUARANTEE) Index Page I Contents Page 2 Legal and Administrative Information Page 3 Statement of Trustees Responsibilities Page 4 Independent Examiners Report to the Trustees Trustees Report Pages5-6 Page 7 Statement Of Financial Affairs Page 8 Balance Sheet Pages 9-11 Notes to the Financial Statements
GREEN HILLS CHRISTIAN TRUSTLIMITED (A COMPANY LIMITED BY GUARANTEE) Legal and Administrative Information Charity Number Company Registration Number 305954 713487 (England and Wales) Start of Financial Year I st January 2023 End of Financial Year 31 st December 2023 Trustees Mrs ES8urt Mr N Doney Mr G M Knowles (secretary) Mrs C Knowles Rev Dr D G Howling (Chair) Ms M A Whitchurch Governing Instrument Memorandum and Articles of Assoclation adopted 5th September 2016 Registered Address and Correspondence Address l Riverside Cottages Riverside Upper Beeding West Sussex BN44 3HW Primary Bankers National Westminster Bank PIC 5 Broadwater Street East Worthing West Sussex BNI 4 gAB Solicitors Rosemary Hensby 20 Mulberry Lane Gorin9-By-Sea Worthing West Sussex BNI 2 4NS Independent Examiner Mr P Kirkbride 23 Thatchers Close Horsham RHI 2 5TL
GREEN HILLS CHRISTIAN TRUST LIMITED IA COMPANY LIMITED BY GUARANTEE) Independent Examiner's Report to the Trustees I report on the accounts of the Trust for the year ended 31 st December 2023 which are set out on pages 5 to I l . Respective responsibilities of trustees and examlner The trustees, who are also the directors of Green Hills Christian Trust Limited for the purposes of company law 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 15 needed. Having satisfied rnyself that the charity is not subject to audit under company law and is ellgible for i n d e pe n d e n t examination. it is my responsibility to: examine the accounts (under section 145 of the Charities Act) to follow the procedures laid down in the General Direction5 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 statement My examination was carried out in accordance with 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 the trustees concerning any such matters. The Procedures undertaken do not provtde all the evidence that would be required in an audit, and consequently no opinion ts 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 bel¢)W. Independent examiner's statement In the course of my examlnation, no matter has come to my attention (i) which give5 me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: proper accounting records are kept (in accordance with section 7 30 of the Charities Act and with sectlon 386 of the Companles Act 2006) accounts are ppared which agree with the accounting records and comply wtth the accounting requirements of the Charities Act and Section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice," Accounting and Reporting by Charities; have not been met. or to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. (2) 23 Thatchers Close Horshqm RH12 5TL Mr P Kirkbride
GREEN HILLSCHRISTIANTRUSTLIMITED (A COMPANY LIMITEDBY GUARANTEE) StatementofTrustees Responsibilities The Trustees, who are directors of Green Hills Christian Trust Limited for the purposes of company law. are responsible for preparing the Trustees Report and the accounts in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. Company law requires the trustees to prepare accounts for each financial year which gives a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that year. In preparing these accounts, the trustees are required to: select suitable accounting policies and then apply them consistentty. observe Ihe methods and principles in the Charitles Statement of Recommended Practice (SORP) make judgements and estimates that are reasonable and prudent; and prepare the accounts on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
GREEN HILLS CHRISTIAN TRUST LIMIED (A COMPANY LIMITED BY GUARANTEE) TRUSTEE REPORT FOR THE YEAR ENDED 31 sr DECEMBER 2023 Green Hills Christian Trust (GHCT) has as its principal stated objective," Ihe provlsion of financial support by way of grants for the Christian education and training of young people.. To thts end. over the past year Green Hills has been able to support a further 26 individuals and organisations through the distribution of micro grants. During 2023 we were pleased to be able to allocate £21 ,357 to support and encourage work amongst chlldren and young people. We praise God for the work of these organisations and the directors are pleased to have been able to provide this level of support in the furtherance of the charities objective5. In order to provide grant monies, the majority of Green Hills, assets are invested in property which provides a regular and predictable income stream. As directors we take our responsibilities as a landlord seriously. devoting considerable time and effort to the management of these propertie5. This is not only to the benefit of our tenants but also ensures that our investments are adequately protected and that the Trust ha5 a steady and reliable income. The directors have authorised Leaders in the day-to-day management of the properties and tenancies to provide professional guidance and services to GHCT. During the course of 2023 the directors authorised such work as was necessary to ensure that the propertle5 were well maintained. Whilst there have been no major changes to the property and investment portfolio from which we derive our income. we have worked hard to ensure that our current Investments will continue to provide the best possible revenue stream. The directors feel that our current portfolio not only safeguards the underlying capital value of the company's assets, but also provldes us with a reliable return from these assets. Whilst there is no immediate necessity to change the way that Green Hills operates, the directors recognise that from time to time a more thorough review needs to be conducted to ensure the ongoing viability of the Trust. A review into the way that GHCT allocates grants was carried out during 2023 and several changes have been made following this review. In addition. the directors have also reviewed the charities funding and membership policies. No significant changes are proposed to these policies at this time. With Regards to the allocation of grants. grants are currently distributed on an ad-hoc basis depending on who applies. with a small number of organisations apply annually. Up until now it has been our practice to consider applications from individuals and organisations from anywhere in the UK and overseas. The availability of grant monies is not advertised and whilst we receive a number of speculative applicatlons through the use of search engines. word of mouth 15 the main avenue through whtch we are approached. The directors felt that it was easier to have a relationship with individuals and organisations locally than nationally. This was felt to be important as it allows the directors to more carefully monitor to whom the grants are allocated to, thereby ensuring that the money goes to the purposes for which it was intended. It wa5 decided to limit the allocation of grants nationally and focus on local charities. After discussion it was agreed to move to a regional model to enable the directors of GHCT to develop relationships with organisations, thus improving accountability. It was agreed that from January 2024 grants would only be considered from charities based in Kent, Sussex, Surrey and Hampshlre.
GREEN HILLS CHRISTIAN TRUST LIMIED (A COMPANY UMITED BY GUARANTEE) TRUSTEE REPORT (Continued) FOR THE YEAR ENDED 31 sr DECEMBER 2023 The directors felt that they did not want to cut off organisations from support that they had been used to receiving so It was agreed that for an interim period GHCT would retain historical relationships with or9anisations from outside of the target area. From time to time GHCT is approached by oversea5 mission organisations. It was agreed that the best way for GHCT to support foreign missions is by supporting those directly involved. In particular GHcf will seek to support and encourage young people engaging in mission. One way in which this might be achieved is through partnership wlth local charities agreeing to contribute through bursartes. Green Hills does not recelve monies from outside organisations but relies on the income ) generated from its own investment activities. An important aspect of the work of the Trust is to manage its Investments to provide growth in the underlying Trust which will enable the Trustees to respond to applications for support in future years. In recent years thls has been achleved through the purchase of property and income generated from rentals. It is assumed that property ownership safeguards the underlying capital value of the company's assets. and provides a reliable return from these assets. However, with increasing costs this might not be the best way of managing the underlying capital and maximising return on investment. Followtng the review, the director5 agreed that the current model represented the lowest risk and a51ows for a regular Income. It was not felt that any changes needed to be made in the short term. The directors recognise the importance of ensuring that rents accurately reflect market value. The dtrectors also recognise the importance of ensuring that the properties are well maintained and comply with all relevant legislation that pertains to rental properties. The directors are happy with the service that GHcf receives from Leaders Property Management Ltd. Green Hills was originally set up with a membershlp and board of directors (trustees). The Trust is managed by a team of directors who each give their time and expertise as volunteers at no cost to the charity. From tlme to time outside expertise is solicited to help with more complex issues, usually pertaining to legal matters and accounts auditing. The current group of trustees has a wide range of expertise and is an appropriate size for the activities of the Trust. However membership has been dwindling for a long time and a different structure might be required into the future. No decision was made about this issue pending further investigation inw the requirements placed upon the Trust in its articles of association. The Trust is managed by a team of directors who each give their time and expertise as volunteers at no cost to the charity. I would like to acknowledge and thank them for their dedication, commitment, and hard work over the past year. Thank you for your continuing and prayerful support. Rev Dr DG Howling Chalr
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY I•MIT£D IY GUARANTEEI Charlty Number 1106290 CompanyReglstration i)0713487 (England and Wales) BALANCE SHE Y•ar endln9 31 1)eremb¢r 2023 2023 Total 2022 Total Notes Unrestricted restricted Rxed Assets Investments li I,OCX),283 I,J0,283 830,907 Current Assets Debtors Cash at Bank Total Current A$5ets 4.502 4,882 359 359 4,861 5,241 878 878 Ltss Credltors falllng due 150 150 Net Current Assets 4,732 359 5.C81 478 total Assets less Current Llabllltles 1,005,015 359 l.(K)5,374 831,385 Funds of the Charity general Funds Re- evaluation Reserve Maintenance Fund Total Funds 513.171 491.844 513.171 491,844 359 l.(NJ5,374 511,776 319,249 360 io 359 I,CR]5.015 359 831.38S The company is entltled to the exemption from the audit requirement contained in Section 477 of the Companies Act 2006 (The Act) for the year ended 31 December 2023. No member of the company has deposited a notice, pursuant to section 476. requirlng an audit of these accounts. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of The Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of The Act relating to accounts 50 far as applicable to the company. These financial statements have been prepared in accordance with the special provision5 relating to small companies within Part 15 of The Act. These accounts were approved by the Board on l O" June 2024 Trustee M Whitchwch t¢s ort p(w 9 to 11 fm w of t1fi)l0r stot¢ffxnts
GREEN HILLS CHRISTIAN TRUST LIMITED IA COMPANY LIMITED BY GUARANTE STATEMENTOF FINANCIAL AcrwrriES FORTHEYEAR ENDED31 DECEMBER2023 2023 Total 2022 Total Unrestrirted restricted Notes Incomln8 Resources from Generated fund Donations Investment Income maIntenan Fund Total In¢omlng Resources 47,768 47.768 I.2() 48.968 41232 1,2iJ) 43,432 1.2(XJ 1,21Y) 47.768 Expendlture on: charit3ble Artivities: Christian Education and Training of young people Operating Costs 21,357 18,824 21,357 21,714 36.350 53,064 2,8 Total Ruources Expended 40,181 43,071 89,414 Net Intomlnyjloutgoing) Rexlurces 7,587 -1,690 5,897 45,982 Other RecolSed Gatns and (Lossesl Gains (Losses) on Investment 355et5 167.692 167,692 -25,541 Cumt Year Net Mo%emert In Funds 175,279 -1,690 173,589 -71,523 Transfer between Funds -1,689 1,689 1.542 Total Funds BalarKe l January 2023 831,025 360 831,385 902,908 Plus Creditors not paid but recorded In 2022 Totsl Funds Balance 31 Drfember 2023 I,5,015 359 I,iJ)5,374 831.385 The statement of financial activities has been prepared on the basis that all activities are continuing. There are no recognised gains and/or losses other than those pa55ing through the statement of financial activities. The notes onpages 9 to I I form part ofthese financial staten7ents
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTESTOTHEACCOUNTS FORTHEYEARENDE031 DECEMBER2023 I. ACCOUNTINGPOLICIES Basis of preparation The accounts have been prepared under the historical cost convention modified to include the revaluation of certain fixed assets. The Trust has taken advantage of the exemption in Financial Reporting Standard Number I from the requirement to produce a cash flow Statement on the grounds that it is a small trust. The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, 'Accounting and Reporting by Charities, issued in March 2005 and the Companies Act 2006. Incoming Resources Investment income is accounted for in the period in which the charity is entitled to receipt. Resources expended Grants made in pursuit if the trust's objectives are charged in the accounts when payment5 are made. All other expense5 are provided for on an accruals basis. Investments Investments. other than property, are included at the market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Affairs. Realised investment gains and losses represent the difference between the market value of the investments at the beginning of the period, or the cost if purchased during the period, and the sale proceeds. Unrealised gains and losses arise on the fevaluation at year end. The investment property held by the trust is stated at its open market value at 2nd December 2018, and has not subsequently been revalued. This tatment is not Sn accordance with Statement of Accounting Practice Number 7 9. The trustees consider that the cost of annually revaluing the propertywould be disproportionate to the value of the information obtained but are of the opinron that the open market value 15 in exces5 of the balance sheet amount. Taxation The trust is a reglstered charity and is exempt from corporation tax as all its income is applied for charitable purposes.
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED B Y GUARANTEE) NOTESTOTHEAccouKfs (Contlnued) FOR THEYEAR ENDED31 DECEMBER2023 2023 Total 2022 Total Unrestrlcted restricted Notes 2. Investn*nt Inn Rental Income Dlvldends ReceSved Interest ReIVed Totsl 42ml 42,(1 36,442 5.736 47.768 47,768 41232 Grant Funding Other Costs Total 2023 Total 2022 3. Total Resour$ Expended Charltable Actlvltles- Chrlstlan Educatlon and Tralnlnz of Young People Grant Fundin8 Activities 21,357 Operatlng costs 20,133 Total 41,49) 21,357 23.023 36,350 53,064 89.414 Ib Grants Pald To Instltutlons Indlvlduals Total total Pald 20,357 21,357 36,350 Number of Grants 22 26 42 Maximum received by any one organisation 1,278 1,278 Total Total 2022 5. Opperating Costs Unrestrirted restrirted 2023 Lease extenslon fees Managln8 agents commlsslon Instsrance 21,572 5,111 1,033 24,881 9318 1303 7.94S 223 9.318 1.303 10.835 223 Repalrs Accountancy Sundary Expenses Total 2A90 35 35 67 I824 2090 21,714 53,C 6. Trustees None of the trustees (or ary persons connected with them) recelved any renxmratlo durfng the year, and none were relmbursed for any expenses. other than Incurred as agents for the company. 7. Employees There were no employees durfng the year 8 debtors and Prepayments None 2023 2022 io
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE> NOTESTOTHEACCOUNTS (Contlnued) FORTHEYEARENDED3 1 DECEM8ER2023 9. Credltors. Ac(rnals and Deferred Income Audlt fee 10. Restricted Funds Monles for the Management of Queens Court are held In the Restrfrted Fund. 11. Flxed Asset Investments UK COIF Charity Funds UK Portfollo Cash Total Investment Property Market Value at tst January 2023 189,362 1,545 830.7 Acqulsltlons at cost Dlsposals Chan8e In valve In the o,c 17,692 167,692 Market value at 31st Dernber 2023 207.054 3.229 Im1,283 Historfcal Cost At 31st December 2023 290,210 215,0Th) 3,229 508A39 At 31st Dember 2022 290.210 189,362 481,117 The investment property was professionally revalued 14th June 2023