Charity registration number 294129
Company registration number 01897094 (England and Wales)
ELIZABETH MIDDLETON TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
ELIZABETH MIDDLETON TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M W Middleton
E Middleton
Principal address
Fen Ditton Hall
High Street
Fen Ditton
Cambridge
CB5 8ST
Independent examiner
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
ELIZABETH MIDDLETON TRUST
CONTENTS
Page
Trustees' Report report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 9
ELIZABETH MIDDLETON TRUST
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The trustees, who are also directors for the purposes of company law,Trustees present their annual report together with the financial statements of the charitable company for the period ended 30 September 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply withcharity 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)".

Objectives and activities

The objectives of the Elizabeth Middleton Trust, as stated in the Memorandum of Association, are:

 

1) The propagation and dissemination, in all parts of the world, of the truths and doctrines of the Christian Faith.

 

2) The promotion and strengthening of the life and witness of Protestant evangelical churches and groups in all parts of the World.

 

3) The production and distribution of gramophone records, discs, tape recordings and other forms of recording and reproducing the Christian Gospel selected passages of the Holy Scriptures sermons.

 

4) The carrying on for the benefit of the community the business of providing for aged persons in need thereof:

 

a.    Sheltered or other housing and

b.    Any associated amenities

 

Specially designed or adapted to meet the disabilities and requirements of such persons.

 

No staff are employed or expenses incurred other than minor governance costs, the available funds being spent on gifts to other charities and individuals for their work in advancing the aims as above. The company has a subsidiary, Certcharm Ltd, that charges for management services and donates the whole of its income to the company.

Achievements and performance

The charity continues to dedicate its resources primarily to the promotion of the Christian faith. The trustees have had due regard to the guidance published by the Charity Commission on public benefit.

 

The trustees are pleased that the charity has continued to provide support to other charities with similar objectives.

Financial review

Policy on reserves

 

The company needs reserves in order to be able to cope with difficulties in predicting levels of voluntary donations and to cover contingencies and unforeseen opportunities. The trustees review the level of reserve required annually and we use a risk based approach to determine the level required. The trustees view the minimum reserves required to be; one years’ worth of governance costs. The current level of reserves are not sufficient and therefore post year end plans have been put in place for additional funds to be introduced via the subsidiary company in order to cover the expected governance costs for the coming year.

 

Structure, governance and management

 

Nature of governing documents

 

The charity is governed by a memorandum and articles of association as amended by special resolution dated 9 March 2015.

ELIZABETH MIDDLETON TRUST
TRUSTEES' REPORT REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -

Recruitment and appointment of trustees

 

The directors are the charity trustees and as such no other person or body is currently entitled to appoint trustees.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of winding up.

M W Middleton
E Middleton
Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

The annual report was approved by the trustees of the charity and signed on:

M W Middleton
Trustee
20 June 2025
ELIZABETH MIDDLETON TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ELIZABETH MIDDLETON TRUST
- 3 -

I report to the charity trustees on my examination of the financial statements of Elizabeth Middleton Trust for the year ended 30 September 2024.

Responsibilities and basis of report

As the charity's trustees of the Elizabeth Middleton Trust (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 Elizabeth Middleton Trust 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.

Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
20 June 2025
ELIZABETH MIDDLETON TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
2
13,500
31,000
Expenditure on:
Charitable activities
3
5,500
-

Analysis of governance & support costs

6
3,892
4,251
Total expenditure
9,392
4,251
Net income for the year/
Net movement in funds
4,108
26,749
Fund balances at 1 October 2023
34,894
8,145
Fund balances at 30 September 2024
39,002
34,894

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

ELIZABETH MIDDLETON TRUST
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
9
2
2
Current assets
Cash at bank and in hand
51,065
43,127
Creditors: amounts falling due within one year
11
(12,065)
(8,235)
Net current assets
39,000
34,892
Total assets less current liabilities
39,002
34,894
Income funds
Unrestricted funds
39,002
34,894
39,002
34,894

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

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 20 June 2025
M W Middleton
Trustee
Company registration number 01897094
ELIZABETH MIDDLETON TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
1
Accounting policies
Charity information

Elizabeth Middleton Trust is a charity with the aim to spread the propagation and dissemination, in all parts of the world, of the truths and doctrines of the Christian Faith.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

 

The basis of this opinion is that sufficient reserves have been set aside to sustain the charity.

1.3
Charitable funds

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

1.4
Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of asset's use. Other support costs all allocated based on the spread of staff costs.

1.5
Fixed asset investments

Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in net income/(expenditure) for the year.

Derecognition of financial liabilities

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

ELIZABETH MIDDLETON TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.6
Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.7

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date.

1.8

Governance costs

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustee's meetings and reimbursed expenses.

1.9

Fund structure

Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.

2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Donations and legacies

13,500
31,000
3
Charitable activities

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£

Allocated support costs

5,500
-
4
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
2
2
There were no employees whose annual remuneration was more than £60,000.
ELIZABETH MIDDLETON TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
5
Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

 

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

6

Analysis of governance & support costs

Unrestricted
Unrestricted
funds
funds
2024
2023

Accountancy & legal fees

3,830
4,190

Other governance costs

62
61
3,892
4,251
7
Staff costs

The charity has no payroll scheme.

8
Taxation

The charity is a registered charity and is therefore exempt from taxation.

9
Fixed asset investments
Unlisted investments
£
Cost or valuation
At 1 October 2023 & 30 September 2024
2
Carrying amount
At 30 September 2024
2
At 30 September 2023
2
10
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Shares in group undertakings and participating interests
2
2
ELIZABETH MIDDLETON TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
11
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,568
4,744
Accruals and deferred income
3,497
3,491
12,065
8,235
12
Related party transactions
Transactions with related parties

During the year the charity entered into the following transactions with related parties:

(wholly owned subsidiary)

During the year total donations received without conditions totalled £13,500 (2023 - £31,000). At the balance sheet date the amount due from the related party was £nil (2023 - £nil).

(other related party)
At the balance sheet date the amount due to the related party was £7,672 (2023 - £3,796).

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