THE CHRISTIAN CONFERENCE TRUST

Company limited by guarantee

Company Registration Number:
03203917 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 1 November 2023

End date: 31 October 2024

THE CHRISTIAN CONFERENCE TRUST

Contents of the Financial Statements

for the Period Ended 31 October 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

THE CHRISTIAN CONFERENCE TRUST

Directors' report period ended 31 October 2024

The directors present their report with the financial statements of the company for the period ended 31 October 2024

Principal activities of the company

The Trust is established to promote the Christian religion, in particular by providing facilities at less that the commercial rate for conferences, retreats and meetings. This is achieved by reinvesting the annual net surplus to continue to improve and develop the facilities available.

Additional information

OBJECTIVES The Trust runs centres for residential and day conferences. There are currently three centres; The Hayes in Derbyshire, High Leigh in Hertfordshire and Highgate House in Northamptonshire. Our centres have a rich Christian legacy with which many of our groups are connected. As the charity is non-denominational in outlook we aim to provide inclusive, safe, comfortable and welcoming places of conference and prayer where, in the words of one of our founders, “all Christians might meet and take counsel together about the affairs of the kingdom of God”. We put this into effect by: 1 Seeking God’s leading for the Trust in all that we do 2 Organising ourselves to meet our guests’ requirements, rather than expecting them to meet ours 3 Striving to treat our guests as we would wish to be treated 4 Valuing each member of staff, providing them with support and training as necessary, offering employment based on a mutually beneficial relationship, and recruiting in the expectation that the Trust’s Christian ethos will be honoured and promoted 5 Empowering and encouraging each member of staff to take decisions that improve or enhance each guest’s experience of our centres 6 Playing our part as an interested and concerned corporate citizen in each community where we operate. Where there is excess capacity, the Trust additionally provides hospitality and conference facilities to charities and public sector organisations that are not primarily Christian, through a wholly owned subsidiary company, First Conference Estate Ltd. All taxable profits of the subsidiary are gifted to the Trust. PERFORMANCE AND ACHIEVEMENTS We thank God for another blessed year of operation with strong demand from churches and Christian groups spending time away together in residential ministry at our centres. We achieved 119,100 visitor nights for the year (2022/23:101,500) the vast majority of which were attributable to churches and Christian groups as we continue to deliver the principal objective of the charity by being able to provide these groups with the benefit of charges at less than the commercial rate. A combination of great value, beautiful well-located venues and warm Christian service consistently leads to very high levels of guest satisfaction and repeat bookings. In February 2024 the Trust completed the acquisition of Highgate House in Northamptonshire, with the centre opening to guests in June 2024. In launching a third centre, the Trust is able to offer 30% more space for Christian groups to benefit from rates that are on average half the price of commercial venues. Following several months of operation, Highgate House is already proving to be a very popular centre with Christian groups. In October 2024 the board of trustees approved a £2m project to build a major new conference hall at High Leigh, with works commencing on site in February 2025. We thank God that this project was funded entirely through the generosity of a Christian donor. We are blessed with a committed and servant-hearted staff team, many of whom live in the local community in which each of our centres are located. During the year we celebrated our inaugural Hospitality Academy graduation at Highgate House as part of our existing Pathways programme. We also invested heavily in our learning and development environment during the year, to ensure our staff team continue to be well trained and equipped. FINANCIAL REVIEW 2023/24 Income Trading income for 2023/24 was £8.5m (2022/23: £7.8m) with an additional £1.3m restricted donation (2022/23: nil) towards the new conference hall at High Leigh. Total income this period therefore being £9.8m. Expenditure Total expenditure for 2023/24 amounted to £9.2m (2022/23: £7.5m) after renovation costs of £358k in the new Highgate House centre and £808k in property upgrades (included within repair costs shown in note 7). The Trust regularly invests significant surpluses to upgrade facilities available to guests and additionally upgraded assets by a further £883k this year (shown within note 12). Total cash reinvestment in property and assets this period therefore being £2m. Funds Movement Net expenditure for the year detailed above resulted in an overall annual loss of £679k (2022/23: surplus £235k). Reserves Policy and Financial Position As shown in the group’s balance sheet on page 14, the total funds at the end of the year amounted to £11.4m (2022/23: £10.8m) representing unrestricted funds of £10.1m (2022/23: £10.7m) and restricted funds of £1.3m (2022/23 £nil).The realisation of these funds being achievable by disposition of fixed assets held for charity use. Related Parties The Christian Conference Trust has a wholly owned subsidiary, First Conference Estate Ltd. During the year a management charge of £1.3m (2022/23 £1.2m) was made by the Trust to the subsidiary company. PLANS FOR THE FUTURE In January 2025 the board of trustees approved our 2030 strategic plan. This strategic plan is called “Investing” because we are committed to investing through two main strategic pillars; invest-to-protect and invest-to-grow. Invest-to-protect is about sustainability and excellence. It’s about maintaining our sweet spot and de-risking the organisation with a core focus on doing what we do well. Invest-to-grow pillar is about opportunity and impact, extending our reach as we take a risk-based approach to opportunities for growth. These two strategic pillars are driven by five clear strategic principles: charitable-objective fulfilling, faith-led, risk-savvy, change-ready and investment-centric. Our 2030 strategic plan includes the following areas of targeted investment; Our Christian ethos and values Our staff Our market knowledge Our organisational resilience Quality of guest experience Our centres Our environment Our governance We believe we have a particular opportunity in this next strategic cycle to develop a voice-strategy or thought leadership for the changing church. We are well positioned to develop this role from the strong position our doctrinal neutrality affords us together with the shop-window we are for the church. We are seeing unprecedented change in our target market, with essentially traditional denominations declining and newer ones growing. We want to ensure that our offering continues to be relevant and attractive to a changing market, while also cautiously exploring product and market development to satisfy the significant demand for Christian residential conferencing. We are blessed as a charity to run a financially sustainable organisation which does not require financial support for day-to-day operating costs. As we deliver against our 2030 strategy we are prayerfully building relationships with those who the Lord has blessed materially who may be able to support our vision for investment, whether organic or inorganic. As part of our 2030 strategic deliverables, work began on a new 300-seater conference hall at High Leigh in February 2025, with the new facility scheduled to open to guests in early 2026. We pray that this investment will be a great blessing to the church. In early 2025 we launched our new learning and development portal for staff training, covering a wide range of operational and management tools, from food hygiene to hospitality service excellence. We continue our journey of environmental stewardship in partnership with A Rocha UK, with a growing understanding across the Trust of our responsibilities and opportunities as a charity. We have a dedicated environmental budget to help us reduce our carbon footprint and increase biodiversity and will complete our second carbon footprint assessment in 2025. The Trustees' Report, including the Strategic Report, was approved by the Board and signed on its behalf by: Andy Lucas, Chair 10 April 2025



Directors

The directors shown below have held office during the whole of the period from
1 November 2023 to 31 October 2024

Andy Lucas
Hayley Beckett
Dionne Gravesande
Sharon Greasley
John Levick
Nicholas Myers
Michael Page
Michael Quantick


The director shown below has held office during the period of
1 November 2023 to 7 October 2024

Elizabeth Isola


The director shown below has held office during the period of
1 November 2023 to 30 April 2024

David Evans


The director shown below has held office during the period of
1 November 2023 to 15 April 2024

Michael Kinton


The director shown below has held office during the period of
1 May 2024 to 31 October 2024

Andrew Cave


The director shown below has held office during the period of
11 April 2024 to 31 October 2024

Michael Talbot


Secretary John Heasman

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
10 April 2025

And signed on behalf of the board by:
Name: Andy Lucas
Status: Director

THE CHRISTIAN CONFERENCE TRUST

Profit And Loss Account

for the Period Ended 31 October 2024

2024 2023


£

£
Turnover: 8,513,631 7,780,504
Cost of sales: ( 295,954 ) ( 295,413 )
Gross profit(or loss): 8,217,677 7,485,091
Distribution costs: ( 8,638,628 ) ( 7,138,069 )
Other operating income: 1,318,350
Operating profit(or loss): 897,399 347,022
Interest receivable and similar income: 31,498
Interest payable and similar charges: ( 253,536 ) ( 111,540 )
Profit(or loss) before tax: 675,361 235,482
Profit(or loss) for the financial year: 675,361 235,482

THE CHRISTIAN CONFERENCE TRUST

Balance sheet

As at 31 October 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 15,658,916 12,008,608
Total fixed assets: 15,658,916 12,008,608
Current assets
Stocks: 4 77,242 63,988
Debtors: 5 307,615 255,469
Cash at bank and in hand: 2,524,031 2,298,632
Investments: 6 1,579,832
Total current assets: 4,488,720 2,618,089
Prepayments and accrued income: 367,782 349,364
Creditors: amounts falling due within one year: 7 ( 4,021,936 ) ( 3,035,532 )
Net current assets (liabilities): 834,566 (68,079)
Total assets less current liabilities: 16,493,482 11,940,529
Creditors: amounts falling due after more than one year: 8 ( 5,039,439 ) ( 1,161,847 )
Total net assets (liabilities): 11,454,043 10,778,682
Members' funds
Profit and loss account: 11,454,043 10,778,682
Total members' funds: 11,454,043 10,778,682

The notes form part of these financial statements

THE CHRISTIAN CONFERENCE TRUST

Balance sheet statements

For the year ending 31 October 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 10 April 2025
and signed on behalf of the board by:

Name: Andy Lucas
Status: Director

The notes form part of these financial statements

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Income is recognised when the organisation has entitlement to the funds (upon event, not in advance)

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less accumulated depreciation as follows: Freehold buildings 2% on cost, Computers 33% on cost, Motor 25% on WDV, Other 20% on WDV

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 232 175

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2023 16,015,264 6,847,346 22,862,610
Additions 3,370,001 883,138 4,253,139
Disposals
Revaluations
Transfers
At 31 October 2024 19,385,265 7,730,484 27,115,749
Depreciation
At 1 November 2023 4,974,804 5,879,198 10,854,002
Charge for year 340,393 262,438 602,831
On disposals
Other adjustments
At 31 October 2024 5,315,197 6,141,636 11,456,833
Net book value
At 31 October 2024 14,070,068 1,588,848 15,658,916
At 31 October 2023 11,040,460 968,148 12,008,608

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Stocks

2024 2023
£ £
Stocks 77,242 63,988
Total 77,242 63,988

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Debtors

2024 2023
£ £
Trade debtors 307,615 255,469
Total 307,615 255,469

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

6. Current assets investments note

Funds placed on higher earning deposit accounts

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 55,334 460,000
Trade creditors 489,757 512,528
Taxation and social security 582,447 296,567
Accruals and deferred income 369,216 346,686
Other creditors 2,525,182 1,419,751
Total 4,021,936 3,035,532

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

8. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 4,844,666 948,333
Other creditors 194,773 213,514
Total 5,039,439 1,161,847

THE CHRISTIAN CONFERENCE TRUST

Notes to the Financial Statements

for the Period Ended 31 October 2024

9. Financial Commitments

Restricted funds via specific donation are held for the purpose of building a new conference hall at High Leigh - work expected to commence during 2025.