The Greenhouse Trust U.K. - Filleted accounts

The Greenhouse Trust U.K. - Filleted accounts

THE GREENHOUSE TRUST U.K. - Company Information

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The Greenhouse Trust U.K.
Registered number: 04291153
Balance Sheet
as at 31 December 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 526,425 527,373
Current assets
Stocks 4,248 3,950
Debtors 4 98,286 71,719
Cash at bank and in hand 91,431 122,586
193,965 198,255
Creditors: amounts falling due within one year 5 (149,439) (136,212)
Net current assets 44,526 62,043
Total assets less current liabilities 570,951 589,416
Creditors: amounts falling due after more than one year 6 (116,621) (123,802)
Net assets 454,330 465,614
Capital and reserves
Restricted funds 8 5,180 2,137
Unrestricted funds 449,150 463,477
Total funds 454,330 465,614
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Russell
Director
Approved by the board on 14 July 2018
The Greenhouse Trust U.K.
Notes to the Accounts
for the year ended 31 December 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Income
This represents the total value of all donated income, income from guest fees and any other income receivable by the company
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings none
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. They include invoiced but unpaid fees for bookings made for 2018 and later
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). They also include the full value of bookings made for 2018 onwards. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 15 14
3 Tangible fixed assets
Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 1 January 2017 547,965 34,999 582,964
At 31 December 2017 547,965 34,999 582,964
Depreciation
At 1 January 2017 24,682 30,909 55,591
Charge for the year - 948 948
At 31 December 2017 24,682 31,857 56,539
Net book value
At 31 December 2017 523,283 3,142 526,425
At 31 December 2016 523,283 4,090 527,373
Freehold land and buildings: 2017 2016
£ £
Historical cost 547,965 547,965
Cumulative depreciation based on historical cost - -
547,965 547,965
4 Debtors 2017 2016
£ £
Trade debtors 98,286 71,719
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 13,226 13,226
Trade creditors 8,502 8,395
Advance bookings 118,542 94,261
Other taxes and social security costs 299 1,647
Other creditors 8,870 18,683
149,439 136,212
6 Creditors: amounts falling due after one year 2017 2016
£ £
Bank loan 116,621 123,802
7 Loans 2017 2016
£ £
Creditors include:
Instalments falling due for payment after more than five years 63,717 70,947
Secured bank loan (see note 6 also) 129,847 137,028
The bank borrowing is secured by a mortgage charge on the freehold property
8 Restricted funds 2017 2016
£ £
At 1 January 2017 2,137 283
Surplus 3,043 1,854
At 31 December 2017 5,180 2,137
9 Other information
The Greenhouse Trust U.K. is a private company limited by guarantee and incorporated in England. Its registered office is:
The Greenhouse Christian Centre
17 Burton Road, Branksome Park
Poole
Dorset
BH13 6DT
10 Unrestricted Funds 2017 2016
£ £
At 1 January 2017 463,477 471,858
Income and Expenditure account (14,327) (8,381)
At 31 December 2017 449,150 463,477
11 Post balance sheet events
There have been no significant post balance sheet events to report.
12 Capital commitments 2017 2016
£ £
Amounts contracted for but not provided in the accounts - -
13 Other financial commitments 2017 2016
£ £
At the year end the company had annual commitments under non-cancellable operating leases as set out below:
Operating leases which expire:
within one year - -
within two to five years
in over five years - -
- -
14 Charitable commitments
The trustees have agreed that 5% of the income from activities should be earmarked as a tithe to support charitable Christian causes. The amount unexpended from this tithe at 31 December 2017 totalled £8400. (2016 £7654)
15 Contingent liabilities
There are no known contingent liabilities
16 Trustees
Aggregate amount of expenses paid to trustees was £115 (2016 £ 1683)
The nature of the expenses was travel, accommodation and meeting costs and the number of trustees to whom expenses payments were made was 1 (2016 3)
17 Related parties
2 trustees served as trustees of The Infectious Academy , a charity to which Greenhouse Trust donated £4200 in 2017 and £1200 in 2016.
The Company secretary is a trustee of Mission4water to whom £2000 was granted during 2017
18 Donated services
No financial value has been placed on unpaid pastoral, hosting, retreat leading, accountancy, management and many other general services as these values are considered to be unquantifiable
19 Enterprise Activities
During 2017 the charity continued to provide management and financial support for Infectious Academy a local organisation promoting youth activities.
20 Funds 2016 Movement 2017
£ £
Restricted Funds :
Seedbed Fund 4,030 4,030
Refugee fund 2,137 (2,137) -
Refurbishment fund - 1,150 1,150
-
2,137 3,043 5,180
-
Unrestricted funds
Designated funds - Legacy fund 82,238 (14,999) 67,239
- Infectious Academy 4,800 (4,200) 600
- J life 4,169 4,169
General funds 372,270 4,872 377,142
463,477 (14,327) 449,150
21 Fund Movement summary
Incoming Outgoing Fund Movement
resources resources transfers in Funds
Costs
Restricted Funds :
-
Seedbed Fund 5,000 970 4,030
Refugee fund 2,137 (2,137)
Refurbishment fund 1,150 1,150
-
Unrestricted funds
Designated funds - Legacy fund 14,999 (14,999)
- Infectious Academy 4,200 (4,200)
General funds 331,884 327,012 4,872
338,034 349,318 - (11,284)
- -
22 Summary of funds Unrestricted Restricted Total
Fixed assets 526,425 - 526,425
Current assets 188,785 5,180 193,965
Current liabilities (149,439) - (149,439)
Long term liabilities (116,621) - (116,621)
449,150 5,180 454,330
23 Donations and legacies 2017 2016
£ £
Major grants received
Other Organisations
Seedbed 5,000
5,000 -
Individuals and smaller grants 17,144 16,399
Legacies - 2,610
Bursary donations 225 110
17,369 19,119
22,369 19,119
24 Detailed Income 2017 2016
£ £
Donations and legacies
Donations and grants 18,834 15,227
Gift aid tax reclaimed 2,265 2,085
Membership and friends 1,270 1,807
22,369 19,119
Income from other trading activities
Letting 7,081 7,410
Shop Sales 5,607 7,024
12,688 14,434
Investment income
Bank deposit interest 13 46
13 46
Other income 2,398 3,129
Income from Charitable activities
Guest fees 298,821 266,660
Conferences , preaching, quiet days, art days 1,745 3,005
Enterprise activities - 41,343
300,566 311,008
Total Income 338,034 347,736
25 Detailed expenditure 2017 2016
£ £
Costs of raising funds
Shop cost of sales 3,265 4,725
3,265 4,725
Expenditure on charitable activities
Direct expenses
Provisions and supplies;
Food 45,820 44,324
Kitchen consumables and equipment 3,982 2,913
House soft furnishings, cleaning etc. 7,088 12,274
Chapel and sundries 6 315
Retreat leaders and pastoral team 8,088 8,942
Bursary expenses 2,967 2,520
Promotion 5,778 11,744
73,729 83,032
Staff costs:
Wages 91,226 76,908
Social security 1,138 1,672
Marketing 4,317 -
Social security 138 -
Management & admin salaries 77,091 71,001
Social security 2,054 1,976
Employers' pension costs 786
176,750 151,557
House upkeep:
Water 4,804 4,995
Insurance 4,437 4,170
Light and heat 21,173 21,702
Rates and refuse collection 4,416 4,231
Repairs to property 14,663 17,270
Garden and pool 3,151 4,199
Depreciation- fixtures and equipment 948 948
53,592 57,515
Support costs
Finance :
Bank interest 3,578 4,016
Loan interest - -
3,578 4,016
Telephone 3,553 2,559
Post and stationery and office equipment 3,612 3,777
Software support 1,057 1,818
Recruitment 672 176
Travel and hospitality 389 308
Training and staff support 3,078 1,965
Sundry expenses 1,169 3
Bank charges 1,106 1,348
Consultancy fees 7,184
Independent examination 820 606
Legal and professional 420 32
23,060 12,592
Grants payable 9,007 4,583
Enterprise activities 6,337 36,243
Expenditure on charitable activities 346,053 349,538
Total expenditure 349,318 354,263
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