Charity registration number 1084616
Company registration number 04002437 (England and Wales)
THE CHRISTIAN BUILDING TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MAY 2023
THE CHRISTIAN BUILDING TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
S M Fisher
D W H Jebb
D H Morrison
D W Posnett
Secretary
D H Morrison
Charity number
1084616
Company number
04002437
Registered office
24 Nicholas Street
Chester
CH1 2AU
Independent examiner
Mitchell Charlesworth
24 Nicholas Street
Chester
CH1 2AU
THE CHRISTIAN BUILDING TRUST
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 9
THE CHRISTIAN BUILDING TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE PERIOD ENDED 30 MAY 2023
- 1 -

The trustees present their annual report and financial statements for the period ended 30 May 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

For a number of practical reasons, the trustees of the Christian Building Trust made a decision to start a process of winding up the charity. The first step was to allocate the funds in accordance with the statutes and the second, which is on-going, is to manage the payments while ensuring the objectives of each donation are met.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The main project being supported by the CBT, the Nireekshana HIV and leprosy clinic, has now progressed and the build is well underway. The trigger point for the first tranche of funding was reached in the Autumn of 2022 with an expectation that the final funding was advanced in 2023.

 

The aim of the Trust is then to find appropriate small projects for the residual amounts after which it will be finally wound down.

Financial review

At the year end, the charity reports a deficit of £101,134 (2022 - £1,079). The charity holds reserves of £42,367 (2022 - £143,501) which the trustees deem acceptable.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Christian Building Trust is a registered charity (number 108416) and company (number 04002437) limited by guarantee without share capital and is governed by its Memorandum and Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:

 

S M Fisher
D W H Jebb
D H Morrison
D W Posnett
THE CHRISTIAN BUILDING TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE PERIOD ENDED 30 MAY 2023
- 2 -
Statement of trustees' responsibilities

The trustees, who are also the directors of The Christian Building Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with 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 give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

 

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 SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and

 

- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity 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 charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Robert Hall FCA, Mitchell Charlesworth was appointed examiner for the current period and has been re-appointed for the ensuing year.

The trustees' report was approved by the Board of Trustees.

D W Posnett
Trustee
13 August 2024
THE CHRISTIAN BUILDING TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE CHRISTIAN BUILDING TRUST
- 3 -

I report to the trustees on my examination of the financial statements of The Christian Building Trust (the charity) for the period ended 30 May 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Robert Hall FCA
Mitchell Charlesworth
24 Nicholas Street
Chester
CH1 2AU
Dated: 14 August 2024
THE CHRISTIAN BUILDING TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 30 MAY 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Expenditure on:
Charitable activities
3
101,134
1,079
Total expenditure
101,134
1,079
Net expenditure and movement in funds
(101,134)
(1,079)
Reconciliation of funds:
Fund balances at 1 June 2022
143,501
144,580
Fund balances at 30 May 2023
42,367
143,501

The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.

THE CHRISTIAN BUILDING TRUST
BALANCE SHEET
AS AT
30 MAY 2023
30 May 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
43,862
145,703
Creditors: amounts falling due within one year
10
(1,495)
(2,202)
Net current assets
42,367
143,501
Income funds
Unrestricted funds
42,367
143,501
42,367
143,501

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 30 May 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 13 August 2024
D W Posnett
Trustee
Company Registration No. 04002437
THE CHRISTIAN BUILDING TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MAY 2023
- 6 -
1
Accounting policies
Charity information

The Christian Building Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 24 Nicholas Street, Chester, CH1 2AU.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE CHRISTIAN BUILDING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MAY 2023
1
Accounting policies
(Continued)
- 7 -

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE CHRISTIAN BUILDING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MAY 2023
- 8 -
3
Expenditure on charitable activities
Charitable Expenditure
Charitable Expenditure
2023
2022
£
£
Direct costs
Grant funding of activities (see note 4)
100,137
-
Share of support and governance costs (see note 5)
Governance
997
1,079
101,134
1,079
Analysis by fund
Unrestricted funds
101,134
1,079
4
Grants payable
Charitable Expenditure
2023
£
Grants to institutions:
Other
100,137
-
5
Support costs allocated to activities
2023
2022
£
£
Governance costs
997
1,079
Analysed between:
Charitable Expenditure
997
1,079
6
Net movement in funds
2023
2022
£
£
The net movement in funds is stated after charging/(crediting):
7
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period (2022 - £nil).

THE CHRISTIAN BUILDING TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MAY 2023
- 9 -
8
Employees

The average monthly number of employees during the period was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
9
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,495
2,202
11
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 June 2022
Resources expended
At 30 May 2023
£
£
£
General funds
143,501
(101,134)
42,367
Previous year:
At 1 June 2021
Resources expended
At 30 May 2022
£
£
£
General funds
144,580
(1,079)
143,501
12
Related party transactions

The charity's day to day operations are managed directly by the board of trustees.

 

There were no related party transactions during the year (2021 - none).

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