Annual Report and Statement of Accounts
For the year ended 31 December 2024
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE)
Charity Registration 305954 CompanyRegistration 00713487 (EnglandandWales)
GREEN HILLS CHRISTIAN TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
Index
-
Page | Contents
-
Page 2 Legal and Administrative Information Page 3 Statement of Trustees Responsibilities Page 4 Independent Examiners Report to the Trustees
-
Pages 5-6 Trustees Report Page 7 Statement Of Financial Affairs Page 8 Balance Sheet Pages 9-1] Notes to the Financial Statements
j
| GREEN HILLS CHRISTIAN TRUSTLIMITED | GREEN HILLS CHRISTIAN TRUSTLIMITED |
|---|---|
| (A COMPANY LIMITED BY GUARANTEE) | |
| Legal and Administrative Information | |
| Charity Number | 305954 |
| Company Registration Number | 713487 (England and Wales) |
| Start of Financial Year | Ist January 2024 |
| End of Financial Year | 31st December 2024 |
| Trustees | Mrs ES Burt |
| 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 Association |
| adopted 5th September 2016 | |
| Registered Address and | 1Riverside Cottages |
| Correspondence Address | Riverside |
| Upper Beeding | |
| West Sussex BN44 3HW | |
| Primary Bankers | National Westminster Bank Plc |
| 5 Broadwater Street East | |
| Worthing | |
| West Sussex BN14 9AB | |
| Solicitors | Rosemary Hensby |
| 20 Mulberry Lane | |
| Goring-By-Sea | |
| Worthing | |
| West Sussex BN12 4NS | |
| Independent Examiner | Mr P Kirkbride |
| 23 Thatchers Close | |
| Horsham | |
| RH125TL |
2
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE)
independent Examiner's Report to the Trustees
| report on the accounts of the Trust for the year ended 31st December 2024 which are set out on pages 5 to 11.
Respective responsibilities of trustees and examiner
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 is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible forindependent 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 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 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 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 the course of my examination, no matter has come to my attention
-
(1) which gives 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 130 of the Charities Act and with section 386 of the Companies Act 2006)
-
accounts are prepared which agree with the accounting records and comply with 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
-
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
23 Thatchers Close HorshamRH12 5TL
Mr P Kirkbride
----- Start of picture text -----
ff Kd
----- End of picture text -----
3
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE)
Statement of Trustees 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 Practice).
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 consistently.
-
observe the methods and principles in the Charities 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.
4
GREEN HILLS CHRISTIAN TRUST LIMIED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEE REPORT FOR THE YEAR ENDED 3157 DECEMBER 2024
Green Hills Christian Trust (GHCT) has as its principal objective; “the provision of financial support by way of grants for the Christian education and training of young people.” To this end, during 2024, we allocated £25,650 to 24 individuals and organisations to support and encourage work amongst children and young people working towards the charity’s principal objective. In order to provide grant monies the majority of Green Hills’ assets continue to be invested in property which provides a regular and predictable income stream.
As directors we have several responsibilities: We have a responsibility towards our tenants, to ensure that we treat them fairly and provide good quality accommodation for them. We have a responsibility for ensuring that our flats are well maintained, that we keep up to date with current legislation and ensure that rental income remains in line with market expectation.
This takes a lot of time and effort but ensures that our investments are adequately protected and that the Trust has a steady and reliable income. We are grateful for the assistance and expertise provided by Leaders Property Management Ltd in the day to day running of our properties.
As directors we feel that our current portfolio sufficiently safeguards the underlying capital value of the company’s assets, and also provides us with a reliable and predictable return from these assets. Whilst there are other investment strategies that might yield higher returns, a reliable and predictable income is more important to us than less predictable and riskier investment strategies.
Of course we recognise that from time to time a more thorough review needs to be conducted to ensure the ongoing viability of the Trust. In 2023 we started a review into the way that we allocated grants. This led us to make several changes to our previous practice of considering applications from individuals and organisations from anywhere in the UK and overseas. Following the review we decided to restrict the allocation of grants to local charities. It was felt that moving to a regional model would enable the directors of GHCT to develop closer relationships with sponsored organisations, thus improving accountability. These changes came into effect in 2024.
During 2024 grants were mainly allocated to charities based in Kent, Sussex, Surrey and Hampshire (with the exceptions of those charities with which we have had a longstanding relationship).
5
GREEN HILLS CHRISTIAN TRUST LIMIED
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEE REPORT (Continued) FOR THE YEAR ENDED 315' DECEMBER 2024
A further change that was agreed in the 2023 review was to support and encourage young people engaging in mission more directly. One way in which we felt that we could better support young people engaging in mission was through partnership with local charities and contributing through bursaries.
2024 saw the start of a pilot project in partnership with Christian Youth Enterprises Sailing Club in which we set aside a sum of money to support five young people during their internship at CYESC. This pilot starting in September 2024 and we look forward to bringing feedback on this at the AGM in 2025.
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 Chair
6
GREEN HILLS CHRISTIAN TRUST LIMITED
(A COMPANY LIMITED BY GUARANTEE) Charity Number 1106290 Company Registration 0071 3487 (England and Wales) BALANCE SHEET Year ending 31 December 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | Unrestricted | restricted | Total | Total | |
| Fixed Assets | |||||
| Investments | ii | 1,011,230 | - | 1,011,230 | 1,000,283 |
| Current Assets | |||||
| Debtors | 8 | 258 | 258 | 380 | |
| Cash at Bank | ______ 3,961 |
2,065 | 6,026 | 4,861 | |
| Total Current Assets | 4,219 | 2,065 | 6,284 | 5,241 | |
| Less Creditors fallingdue | 9 | 150 | 150 | 150 | |
| Net Current Assets | ______ 4,069 |
2,065 | _ 6,134 |
5,091 | |
| total Assets lessCurrent Liabilities | 1,015,299 | 2,065 | 1,017,364 | ||
| Funds ofthe Charity | |||||
| general Funds | 518,272 | 518,272 | 513,171 | ||
| Re- evaluation Reserve | 497,027 | 497,027 | 491,844 | ||
| Maintenance Fund | 10 | 2,065 | _ 2,065 |
359 | |
| TotalFunds | 1,015,299 | 2,065 | 1,017,364 | 1,005,374 |
The company is entitled 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, requiring 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 so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of The Act.
These accounts were approved by the Board on 20" May 2025
----- Start of picture text -----
Trustee D Howling
----- End of picture text -----
----- Start of picture text -----
Trustee = M Whitchurch
----- End of picture text -----
The notes on pages 9 to 11 form part of these financial statements
7
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE[YEAR][ ENDED] 31 DECEMBER 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | restricted | Total | Total | |||
| Notes | £ | £ | ||||
| Incoming Resourcesfrom Generated fund | ||||||
| Donations | ||||||
| Investment Income | 2 | 46,997 | 46,997 | 47.768 | ||
| Maintenance Fund | 1,200 | 1,200 | 1,200 | |||
| Total Incoming Resources | 46,997 | 1,200 | 48,197 | 48,968 | ||
| Expenditure on: | ||||||
| charitable Activities: | 3 | |||||
| Christian Education and | ||||||
| Training ofyoung people | 3,4 | 25,650 | 25,650 | 21,357 | ||
| Operating Costs | 5 | 15,496 | ______ | 394 | 16,006 | 21,714 |
| Total Resources Expended | 41,146 | ______ | 394 | 41,540 | 43,071 | |
| Net Incoming/(Outgoing) Resources | 5,851 | 806 | 6,657 | 5,897 | ||
| Other Recognised Gains and (Losses) | ||||||
| Gains (Losses) on Investment assets | 5,183 | 5,183 | 167,692 | |||
| CurrentYear Net Movement in Funds | 11,034 | 806 | 11,840 | 173,589 | ||
| Transferbetween Funds | -900 | 900 | ||||
| Total Funds Balance 1January2024 | 1,005,015 | 359 | 1,005,374 | 831,385 | ||
| Plus Creditors not paid but recorded in | ||||||
| 2024 | 9 | 150 | 150 | 400 | ||
| TotalFundsBalance31December2024 | 1,015,299 | 2,065 | 1,017,364 | 1,005,374 |
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 passing through the statement of financial activities.
The notes on pages 9 to 11 form part ofthese financial statements
8
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) , NOTES TO THE ACCOUNTS FORTHE YEAR ENDED31 DECEMBER 2024
1. ACCOUNTING POLICIES
14 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 Number1 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.
- 1.2 Incoming Resources
Investment income is accounted for in the period in which the charity is entitled to receipt.
13 Resources expended
Grants made in pursuit if the trust's objectives are charged in the accounts when payments are made. All other expenses are provided for on an accruals basis.
- 1.4 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 revaluation 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 treatment is not in accordance with Statement of Accounting Practice Number 19. The trustees consider that the cost of annually revaluing the property would be disproportionate to the value of the information obtained but are of the opinion that the open market value is in excess of the balance sheet amount.
- 1.5 Taxation
The trust is a registered charity and is exempt from corporation tax as all its income is applied for charitable purposes.
9
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | restricted | Total | Total | ||||
| Notes | £ | £ | |||||
| 2. | Investment Income | ||||||
| Rental Income | 40,965 | 40,965 | 42,001 | ||||
| Dividends Received | 5,764 | 5,764 | 5,684 | ||||
| Interest Received | 268 | 268 | 83 | ||||
| Total | la | 46,997 | 46,997 | 47,768 | |||
| Grant | Other | Total | Total | ||||
| Funding | Costs | 2024 | 2023 | ||||
| 3. | Total Resources Expended | £ | £ | £ | £ | ||
| Charitable Activities - Christian | Education and Training | ofYoung People | |||||
| Grant Funding Activities | 4 | 25,650 | 25,650 | 21,357 | |||
| Operatingcosts | 5 | 15,496 | 394 | 16,006 | 23,023 | ||
| Total | 1b | 41,146 | _ | 394 | 41,656 | 44,380 | |
| 4. | Grants PaidTo | Institutions | individuals | total | Total | ||
| £ | £ | £ | £ | ||||
| total Paid | 3 | 25,400 | _ | 250 | 25,650 | 21,357 | |
| NumberofGrants | ee | ___ ee |
_ Aa |
||||
| Maximum received by anyone organisation | 2,500 | 1,278 | |||||
| Total | Total | ||||||
| 5. | OpperatingCosts | Unrestricted | restricted | 2024 | 2023 | ||
| £ | £ | ||||||
| Managingagentscommission | 7,101 | 7,101 | 9,318 | ||||
| Insurance | 1,037 | 1,037 | 1,303 | ||||
| Repairs | 7,113 | 394 | 7,623 | 10,835 | |||
| Accountancy | 210 | 210 | 223 | ||||
| Sundary Expenses | ___ 35 |
35 | _ 35 |
||||
| Total | 15,496 | _ | 394 | 16,006 | 21,714 |
- Trustees
None of the trustees (or any persons connected with them) received any remuneration
during the year, and none were reimbursed for any expenses, other than incurred as agents for the company.
7. Employees
There were no employees during the year
8 debtors and Prepayments None
£ £ 2024 2023
10
GREEN HILLS CHRISTIAN TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (Continued)
FORTHEYEARENDED31 DECEMBER2024
9. Creditors. Accruals and Deferred income Audit fee
----- Start of picture text -----
400
----- End of picture text -----
10. Restricted Funds
Monies for the Management of Queens Court are held in the Restricted Fund.
11. Fixed Asset Investments
| 11. Fixed Asset Investments |
||||
|---|---|---|---|---|
| UK | COIF | UK | Total | |
| Investment | Charity | Portfolio | ||
| Property | Funds | Cash | ||
| Market Value at istJanuary 2024 | 790,000 | 207,054 | 3,229 | 1,000,283 |
| Acquisitions at cost | - | 5,764 | 5,764 | |
| Disposals | - | |||
| Change in value in the year | - | 5,183 | 5,183 | |
| Market value at 3ist December 2024 | 790,000 | 212,237 | 8,993 | 1,011,230 |
| Historical Cost | ||||
| At 31st December 2024 | 290,210 | 212.237 | 8,993 | 511.440 |
| At31stDecember2023 | 290,210 | 215,000 | 3,229 | 508,439 |
The investment property was professionally revalued 14th June 2023
11