The Rehoboth Trust
Charity registered in England and Wales
Charity number 516295
Trustees’ Annual Report and Accounts for 2024
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THE REHOBOTH TRUST
TRUSTEES' ANNUAL REPORT Year ending 31 December 2024
| 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 |
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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 (Resigned 3 December 2024) | |
| Andrew Poulsom (Appointed 3 December 2024) | |
| 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 | |
| Financial Advisers | Estate Capital Financial Management |
| 7 Uplands Crescent, | |
| Swansea, South Wales, | |
| SA2 0PA. |
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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. One trustee joined and one resigned during 2024.
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:
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suitable candidates are suggested and considered by the Board;
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a shortlist of potential Trustees is drawn up;
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these are voted on by the Board and
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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 and one special meeting was held to consider the sustainability and future of the Trust.
Part Three: Objectives and Activities
The objectives of the Trust, as agreed with the Charity Commission, are:
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a) the advancement of the Christian religion;
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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
Estate Capital Financial Management took over from MHA Caves Ltd as investment advisers to the Trust during the year. 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.
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The opening value of the invested funds of the Trust in 2024 was £671 thousand. £151 thousand was withdrawn to provide funds for grants. The closing balance was £618 thousand.
During the year a review of the sustainability and future was undertaken. The Trustees took the decision that the Trust should continue for the long term provided sufficient Trustees could be found to replace any who chose to stand down.
The Trustees assessed the charity’s position as a going concern and confirmed this was the case.
Overview of applications and grants for 2024
Grant criteria.
A Advancement of the Christian gospel ~~eT~~ B Financial hardship
During 2024 Rehoboth trust considered forty one applications thirty three applications were new and eight were further payments on grants sanctioned in previous years. Thirty eight applications met the criteria twenty nine received grants nine did not. Grants made amounted to £167,718. Three applications were ineligible/rejected and declined. Below is a summary of the grants awarded.
| No | Amount granted |
Criteria | |
|---|---|---|---|
| Grants approved and paid in 2024 |
18 | £144,618 | A |
| 4 | £5,100 | B | |
| Grants approved in previous years paid in 2024 |
8 | £ 18,000 | |
| Applications not granted | 9 | 0 | |
| Ineligible applications | 3 | 0 | |
| Totalgrants paidin 2024 | £167,718 |
The Trustees approved the report and accounts for 2024 on 4 March 2025
E Swires-Hennessy, Treasurer, 4 March 2025
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The Rehoboth Trust Charity Number 516295 Income and Expendlture Accounts. 2024 Income Investment charges refund Investments redeemed Totsl Ex endlture Grants Miscellaneous 500.00 150,999.99 161.499.99 167,717.81 656.17 168,373.98 -16,873.99 151,499.99 Total Excess of expenditure Total Investment Account 2024 Investment valuation 31.12.23 Investment gainlloss Investments redeemed Investment valuation 31.12.24 671,061.28 97,866.96 -150,999.99 617,928.26 Reconclllatlon Account 2024 At31.12.23 Unity Trust Bank Investment holding Investment gain Investments redeemed Total At 31.12.2024 Unity Trust Bank Investment holding Total 18,781.89 671,061.28 97,866.96 -150,999.99 636,710.14 -16,873.99 619,836.15 2,907.90 617,928.25 620,836.15 1,000.00 619,836.16 ** ** Undrawn cheques Total Excess of expenditure Total ** Investments held by Quilter Prepared by Ed Swires-Hennos9y, Treasurer of Rehoboth Trust on 8 January 2025 Independently Examined by Beverty Rowson on January 2025
(HARITY Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of The Rehoboth Trust On accounts for the year ended 31 December 2024 Charity no (if any 516295 Set out on pages IreTnprnber Io Incliide the psqÈ nurntr8 Df athlhlon713h8etsl Respectlve The charity's trustees are responsible for the preparation of the accounts. respon8ibilities of The charity's trustees consider that an audit is not required for this year trustees and examiner under section 144 of the Charities Act 2011 (the Charities Act) and Ihat an independent examination is needed. It is my responsibility to- examine the accounts under section 145 of the Charities Acl, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5}Ib) 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 Commi88ion. An examination includes a review of thè accounling 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 Irue and fair, view and the report is limited to those matters set out in the statement below. Indopond•nt In connection with my examination, no matter has come to my attention èxaminerfs statsment 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. Signed: Date: 23 January 2024 Name: Beverly Rowson Address: 6 Ross Street, Newport NP20 5RD