## **The Rehoboth Trust**
**Charity registered in England and Wales**
## **Charity number 516295**
# **Trustees’ Annual Report and Accounts for 2023**
1
## **THE REHOBOTH TRUST**
## **TRUSTEES' ANNUAL REPORT Year ending 31 December 2023**
|**CONTENTS**||**Page**|
|---|---|---|
|Part One:|Reference and Administrative Details of the Charity,||
||its Trustees and Advisers|3|
|Part Two:|Structure and Governance|4|
|Part Three:|Objectives and Activities|4|
|Part Four:|Financial Review|4|
||Accounts|6|
||Independent Examiner’s report|7|
2
## **Part One: Reference and Administrative Details of the Charity, its Trustees and Advisers**
|Charity Name:|The Rehoboth Trust|
|---|---|
|Charity Registration Number:|516295|
|Address of Principal Office:|The Rehoboth Trust|
||9 Arlington Close|
||The Woodlands|
||Newport NP20 6QF|
|Trustees:|Nigel Dando|
||Jayne Dando|
||David Harris|
||Joanne O’Dwyer (Secretary)|
||Amanda Petersen|
||Stuart Powell|
||Edward Swires-Hennessy (Treasurer)|
||Roy Williams|
|Investment sub-committee|Edward Swires-Hennessy (Treasurer)|
||David Harris|
||Roy Williams|
|Bankers:|Unity Trust Bank Ltd|
||PO Box 7193|
||Planetary Road|
||Willenhall|
||WV1 9DG|
|Solicitors:|Everett, Tomlin, Lloyd and Pratt|
||Pendragon House|
||General Rees Square|
||Cwmbran NP44 1AJ|
3
## **Part Two: Structure and Governance**
The Rehoboth Trust was set up to govern the running of a Christian Residential Home for the Elderly called Rehoboth. The Trust sold the Home in June 2008. Since the sale, the Trust has operated as a grant making trust and continued to be governed by Trustees, functioning according to an amended Trust Deed.
The Trust Deed states that there should be a minimum of four and a maximum of nine Trustees on the Board at any one time. Currently eight trustees serve the Trust. No changes of Trustees were made during 2023.
New Trustees are appointed when a space becomes available on the board if the remaining Trustees deem this necessary. Should the remaining Trustees deem it necessary to supplement the Trustees, the new appointment is made by a resolution at a meeting of the Board of Trustees, followed by a memorandum executed and appended to the Trust Deed. The process by which this occurs is that:
- suitable candidates are suggested and considered by the Board;
- a shortlist of potential Trustees is drawn up;
- these are voted on by the Board and
- appointed by a Memorandum.
A Trustee appointed by the Board approaches the candidate with the most votes inviting them to consider joining the Board of Trustees. In order to inform their decision, they are given a copy of the Trust Deed, an outline of the role of Trustee as published by the Charity Commission, an indication of the time commitment required and an explanation of the working of the Trust. If this person declines the invitation, the candidate with the next highest number of votes is approached.
Four Trustees’ meetings were held during the year to deal with grant applications.
## **Part Three: Objectives and Activities**
The objectives of the Trust, as agreed with the Charity Commission, are:
- a) the advancement of the Christian religion;
- b) the relief of financial hardship, sickness or old age of people who are Christians or have dedicated their life to Christianity through missionary work in particular by the provision of financial assistance or accommodation.
## **Part Four: Financial Review**
MHA Caves Ltd are the investment advisers to the Trust. The three members of the Investment sub-committee of the Trustees are Authorised Signatories for the investments. Instructions to the Financial Advisors must be signed by two of the Authorised Signatories.
The investment aim is to generate an average return, in the long term, of around 8 per cent per annum with around sixty per cent of the return being disbursed through standard grants. In addition major grants may be given for building works or other major projects.
4
The opening value of the invested funds of the Trust in 2023 was £645 thousand. £80 thousand was withdrawn to provide funds for grants. The closing balance was £671 thousand.
The Trustees assessed the charity’s position as a going concern and confirmed this was the case.
## Overview of applications and grants for 2023
## **Grant criteria.**
## A Advancement of the gospel ~~a~~ B Financial hardship
During 2023 Rehoboth trust considered forty applications, thirty four applications were new and six were further payments on grants sanctioned in previous years. Thirty-three applications met the criteria and received grants amounting to £74,876. One grant application awaits further information.
Six applications were ineligible/rejected and declined. Below is a summary of the grants awarded.
|Grants approved and paid in 2023|No|Amount
granted (£)|Criteria|
|---|---|---|---|
||24|58,876|A|
||2|5,000|B|
|Application awaiting further information|1|||
|Grants approved in previous years paid in
2023|6|11,000||
|**Total grants paid in 2023**||**74,876**||
The Trustees approved the report and accounts for 2023 on 7 March 2024.
E Swires-Hennessy, Treasurer, 7 March 2024
5
The Rehoboth Trust
Charity Number 516295
Income and Expendlture Accounts. 2023
Income
Interest
Investments redeemed
Total
enditure
Grants
Miscellaneous
10.14
79,999.94
80,010.08
74,876.00
366.66
75,242.66
4,767.42
80.010.08
Total
Excess of expenditure
Total
Investment Account 2023
Investment valuation 31.12.2022
Investment gainlloss
Investments redeemed
Investment valuation 31.12.2023
645,065.13
105,996.09
-79,999.94
671,061.28
Reconclllatlon Account 2023
At 31.12.2022
CAF Cash.
Investment holding
Investment gain
Investments redeemed
Total
At 31.12.2023
Unity Trust Bank"
Investment holding
Total
14,014.47
645,065.13
105,996.09
-79,999.94
685,076.76
4,767.42
689,843.17
24,781.89
671,061.28
695,843.17
6.000.00
689,843.17
•*
**
Undrawn cheques
Total
Excess of expenditure
Total
Banking transferred from CAF Bank to Unity Trust Bank during 2023
Investments held by Quilter
Prepared by Ed Swires-Henne$sy,
Treasurer of RehQbOtn Trust on 8 January 2024
Indeperthntty Examined by Beverty Rtr•Yaon on 27 J8nuary 2024
Independent examiner's report on the
accounts
Section A
Independent Examiner's Report
Report to tho trusteesl
members of
Cliarily Name
The Rehoboth Trust
On accounts for the year
ended
31 December 2023
Charlty no
Ilf any
516295
Set out on pag•$
lrnmvAnbor lo th• p& numb•rn ol •&Jlh)n•l slwi81
Respectlve The charity's trustees are responsible for the preparation of the accounts.
responsibilities of The charity's trustees consider that an audit is not required for this year
tru•toes and •xaminor under s8Ction 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.
Basls of Independent My examination was carried out in accordance with general Directions given
examlner's statement by the Charity Commission. An examination includes a vIeW 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 conceming 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 Irue
and fair, view and the report is limited to those matters set out in the
statement below.
Independent In connection with my examination, no matter has come to my attention
oxaminer's Statement 1. which gives me reasonable cause to believe that in, any material respect,
the requirernents..
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.
Slgned:
Dats:
}*LJanuary 2023
Name:
Bevedy Rovon
Address:
7 Centurion Gate, Caerleon, Newport NP18 1 NS