IRIS Accounts Production v25.1.4.42 Other Company accounts True false Pounds 1.4.24 31.3.25 31.3.25 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true false true false false false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046464792024-03-31046464792025-03-31046464792024-04-012025-03-31046464792023-03-31046464792023-04-012024-03-31046464792024-03-3104646479ns0:CharitableCompanyLimitedByGuarantee2024-04-012025-03-3104646479ns15:PoundSterling2024-04-012025-03-3104646479ns11:FRS1022024-04-012025-03-3104646479ns11:IndependentExaminationCharity2024-04-012025-03-3104646479ns11:SmallCompaniesRegimeForAccounts2024-04-012025-03-3104646479ns11:FullAccounts2024-04-012025-03-3104646479ns11:CharitiesSORP2024-04-012025-03-310464647932024-04-012025-03-3104646479ns16:EnglandWales2024-04-012025-03-3104646479ns11:RegisteredOffice2024-04-012025-03-3104646479ns0:Trustee22024-04-012025-03-3104646479ns0:Trustee32024-04-012025-03-3104646479ns0:Trustee12024-04-012025-03-3104646479ns0:Trustee42024-04-012025-03-3104646479ns0:Trustee52024-04-012025-03-3104646479ns11:CompanySecretary12024-04-012025-03-3104646479ns0:TotalUnrestrictedFunds2024-04-012025-03-3104646479ns0:TotalRestrictedIncomeFunds2024-04-012025-03-3104646479ns0:Activity82024-04-012025-03-3104646479ns0:TotalUnrestrictedFundsns0:Activity82024-04-012025-03-3104646479ns0:Activity8ns0:TotalRestrictedIncomeFunds2024-04-012025-03-3104646479ns0:Activity82023-04-012024-03-3104646479ns0:TotalUnrestrictedFunds2024-03-3104646479ns0:TotalRestrictedIncomeFunds2024-03-3104646479ns0:TotalUnrestrictedFunds2025-03-3104646479ns0:TotalRestrictedIncomeFunds2025-03-3104646479ns0:TotalUnrestrictedFundsns10:WithinOneYear2025-03-3104646479ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2025-03-3104646479ns10:WithinOneYear2025-03-3104646479ns10:WithinOneYear2024-03-3104646479ns10:AfterOneYearns0:TotalUnrestrictedFunds2025-03-3104646479ns10:AfterOneYearns0:TotalRestrictedIncomeFunds2025-03-3104646479ns10:AfterOneYear2025-03-3104646479ns10:AfterOneYear2024-03-310464647922024-04-012025-03-3104646479ns10:OwnedAssets2024-04-012025-03-3104646479ns10:OwnedAssets2023-04-012024-03-3104646479ns0:TotalUnrestrictedFunds2023-04-012024-03-3104646479ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3104646479ns0:TotalUnrestrictedFundsns0:Activity82023-04-012024-03-3104646479ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3104646479ns10:OwnedOrFreeholdAssetsns10:LandBuildings2024-03-3104646479ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-03-3104646479ns10:FurnitureFittings2024-03-3104646479ns10:OwnedOrFreeholdAssetsns10:LandBuildings2024-04-012025-03-3104646479ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-04-012025-03-3104646479ns10:FurnitureFittings2024-04-012025-03-3104646479ns10:OwnedOrFreeholdAssetsns10:LandBuildings2025-03-3104646479ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2025-03-3104646479ns10:FurnitureFittings2025-03-3104646479ns10:OwnedOrFreeholdAssetsns10:LandBuildings2024-03-3104646479ns10:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-03-3104646479ns10:FurnitureFittings2024-03-3104646479ns10:BetweenTwoFiveYears2025-03-3104646479ns10:BetweenTwoFiveYears2024-03-3104646479ns10:Secured2025-03-3104646479ns10:Secured2024-03-310464647912024-04-012025-03-31
REGISTERED COMPANY NUMBER: 04646479 (England and Wales)
REGISTERED CHARITY NUMBER: 1096720











Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31st March 2025

for

Swansea City Mission & Educational Trust

Swansea City Mission & Educational Trust






Contents of the Financial Statements
for the Year Ended 31st March 2025




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4 to 5

Statement of Financial Activities 6

Balance Sheet 7 to 8

Notes to the Financial Statements 9 to 15

Swansea City Mission & Educational Trust (Registered number: 04646479)

Report of the Trustees
for the Year Ended 31st March 2025


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of 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
Objectives and aims
The objective is to advance the Christian faith by the promotion of the Gospel of the Lord Jesus throughout South Wales and to advance the education of young people throughout the City and County of Swansea.

Owned by Swansea City Mission and Educational Trust, in recent years Nicholaston House became the main focus and work of the charity. Purchased in 1998, over the years of operation between 1998 and 2022, the House offered various retreats and courses, plus accommodation and space for church and Christian groups to stay residentially or just visit for the day.

However, as has been clearly documented in previous annual reports, Nicholaston House has been in need of a major refurbishments (including the need to address significant fire safety issues) for many years, with costs in excess of £600,000 to simply maintain the existing premises (i.e. without any expansion to the space for meetings, ministry and bedrooms) Despite best endeavours to raise the necessary funds, the required funds were not raised.

Therefore, Trustees of Swansea City Mission & Educational Trust confirmed the closure of Nicholaston House on Wednesday, 30 November 2022.

Trustees remain resolute in their believe that the relocation back into the heart of Swansea - literally 'Swansea City Mission's: mission to Swansea' - and improved accessibility to those in real need, is aligning far more with the original aims of the Trust.

This rerouting from the present base on Gower and into the heart of Swansea seeks to help meet a variety of social need through partnerships with others already working and delivering outreach services. The sale of the Nicholaston House site will release significant funds to enable the resourcing of a variety of services to those affected by homelessness, addiction and mental health issues.

Trustees are thankful for all the prayer and support received and also prayer received for wisdom, guidance and direction.

The sale of Nicholaston House was completed on 3 April 2025.

Public benefit
The objectives outlined are clearly aimed at the welfare of the public, being open to all.

The Trustees have referred to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and planning future activities.


Swansea City Mission & Educational Trust (Registered number: 04646479)

Report of the Trustees
for the Year Ended 31st March 2025

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Despite the activities of the charity being limited, while the sale of the sole asset of Nicholaston House is being completed, Trustees have continued to provide support to local like-minded charities and churches by way of gifts and donations of tangible assists that will both help meet the needs of those in need and also directly assist local charities and churches through the provision of practical resources that had essentially become surplus to requirements. This has included: assisting local churches with resources that will help them provide social community activities, providing practical resources to homeless outreach providers in Swansea city.

FINANCIAL REVIEW
Financial position
Apart from donations from a small group of regular committed financial supporters, income has generally been static. However, costs associated with maintaining and insuring Nicholaston House needed to be met prior to the recent sale.

Reserves policy
Following the sale of Nicholaston House in early April 2025, significant funds have been released which are now available for future project. Additionally the Charity currently has little outgoing, in recent years the main outgoing have related to the property, for which all cost have now been cleared.

FUTURE PLANS
The Trustees have resolved that funds from the sale of Nicholaston House be put to good use by the charity through mission work in and around Swansea. This is not the end of Swansea City Mission & Educational Trust, but a very new beginning facilitating an expansion of ministry in the heart of Swansea.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, memorandum and articles incorporated 24 January 2003, and constitutes a limited company limited by guarantee, as defined by the Companies Act 2006.

Organisational structure
The Trustees have no formal training procedures in place and rely on their individual specialities and professional training. All major decisions relating to services, staffing and policy are made by the Trustees who hold regular meetings and discussions.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04646479 (England and Wales)

Registered Charity number
1096720

Registered office
Castle House
High Street
Ammanford
Carmarthenshire
SA18 2NB


Swansea City Mission & Educational Trust (Registered number: 04646479)

Report of the Trustees
for the Year Ended 31st March 2025

Trustees
His Hon M R Burr
J C Penberthy
G J Thomas
J D Jones (resigned 22.10.24)
I Ambrose

Company Secretary

Independent Examiner
D.M.T Gould B.A (Hons), F.C.C.A
Ashmole & Co
Chartered Certified Accountants
Castle House
High Street
Ammanford
Carmarthenshire
SA18 2NB

Solicitors
Messrs Beor Wilson Lloyd, incorporating Peter Williams & Co, Swansea.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

Approved by order of the board of trustees on 28th May 2025 and signed on its behalf by:





G J Thomas - Trustee

Independent Examiner's Report to the Trustees of
Swansea City Mission & Educational Trust

Independent examiner's report to the trustees of Swansea City Mission & Educational Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2025.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent Examiner's Report to the Trustees of
Swansea City Mission & Educational Trust


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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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 accounts to be reached.








D.M.T Gould B.A (Hons), F.C.C.A
The Association of Chartered Certified Accountants

Ashmole & Co
Chartered Certified Accountants
Castle House
High Street
Ammanford
Carmarthenshire
SA18 2NB

17th June 2025

Swansea City Mission & Educational Trust

Statement of Financial Activities
for the Year Ended 31st March 2025

31.3.25 31.3.24
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,210 - 2,210 2,860

Charitable activities
Christian Retreat & Ministry; B&B & Conference Centre
-

-

-

(243

)

Investment income 2 3,078 - 3,078 665
Total 5,288 - 5,288 3,282

EXPENDITURE ON
Charitable activities
Christian Retreat & Ministry; B&B & Conference Centre
139,458

-

139,458

1,204,605

Net gains on investments - 110,000 110,000 -

NET INCOME/(EXPENDITURE) (134,170 ) 110,000 (24,170 ) (1,201,323 )


RECONCILIATION OF FUNDS
Total funds brought forward 606,693 10,225 616,918 1,818,241

TOTAL FUNDS CARRIED FORWARD 472,523 120,225 592,748 616,918

Swansea City Mission & Educational Trust (Registered number: 04646479)

Balance Sheet
31st March 2025

31.3.25 31.3.24
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 865,589 118,015 983,604 881,060

CURRENT ASSETS
Debtors 7 1,479 2,185 3,664 15,776
Cash at bank 5,360 25 5,385 163,474
6,839 2,210 9,049 179,250

CREDITORS
Amounts falling due within one year 8 (374,469 ) - (374,469 ) (412,281 )

NET CURRENT ASSETS (367,630 ) 2,210 (365,420 ) (233,031 )

TOTAL ASSETS LESS CURRENT LIABILITIES 497,959 120,225 618,184 648,029

CREDITORS
Amounts falling due after more than one
year

9

(25,436

)

-

(25,436

)

(31,111

)

NET ASSETS 472,523 120,225 592,748 616,918
FUNDS 12
Unrestricted funds 472,523 606,693
Restricted funds 120,225 10,225
TOTAL FUNDS 592,748 616,918

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.


The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.



Swansea City Mission & Educational Trust (Registered number: 04646479)

Balance Sheet - continued
31st March 2025

The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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


The financial statements were approved by the Board of Trustees and authorised for issue on 28th May 2025 and were signed on its behalf by:





G J Thomas - Trustee





M R Burr - Trustee

Swansea City Mission & Educational Trust

Notes to the Financial Statements
for the Year Ended 31st March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


Swansea City Mission & Educational Trust

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

2. INVESTMENT INCOME
31.3.25 31.3.24
£    £   
Deposit account interest 3,078 665

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.25 31.3.24
£    £   
Depreciation - owned assets 956 1,784
Deficit on disposal of fixed assets 5,200 -

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.


5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,860 - 2,860

Charitable activities
Christian Retreat & Ministry; B&B & Conference Centre
(243

)

-

(243

)

Investment income 665 - 665
Total 3,282 - 3,282

EXPENDITURE ON
Charitable activities
Christian Retreat & Ministry; B&B & Conference Centre
73,439

1,131,166

1,204,605


Swansea City Mission & Educational Trust

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£    £    £   
NET INCOME/(EXPENDITURE) (70,157 ) (1,131,166 ) (1,201,323 )


RECONCILIATION OF FUNDS
Total funds brought forward 676,850 1,141,391 1,818,241

TOTAL FUNDS CARRIED FORWARD 606,693 10,225 616,918

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings Totals
£    £    £    £   
COST OR VALUATION
At 1st April 2024 857,836 7,165 63,086 928,087
Disposals - - (44,068 ) (44,068 )
Revaluations 110,000 - - 110,000
At 31st March 2025 967,836 7,165 19,018 994,019
DEPRECIATION
At 1st April 2024 - - 47,027 47,027
Charge for year - - 956 956
Eliminated on disposal - - (37,568 ) (37,568 )
At 31st March 2025 - - 10,415 10,415
NET BOOK VALUE
At 31st March 2025 967,836 7,165 8,603 983,604
At 31st March 2024 857,836 7,165 16,059 881,060

Cost or valuation at 31st March 2025 is represented by:

Improvements Fixtures
Freehold to and
property property fittings Totals
£    £    £    £   
Valuation in 2025 110,000 - - 110,000
Cost 857,836 7,165 19,018 884,019
967,836 7,165 19,018 994,019

Swansea City Mission & Educational Trust

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

6. TANGIBLE FIXED ASSETS - continued

The property was sold on the 3rd April 2025, a revaluation has been reflected in the year to match the actual price the property was sold for.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Other debtors 1,593 1,207
Tax & Social security 2,071 2,071
Prepayments - 12,498
3,664 15,776

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts (see note 10) 370,419 405,455
VAT - 437
Other creditors - 1,906
Accrued expenses 4,050 4,483
374,469 412,281

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans (see note 10) 25,436 31,111

10. LOANS

An analysis of the maturity of loans is given below:

31.3.25 31.3.24
£    £   
Amounts falling due within one year on demand:
Bank loans 370,419 405,455
Amounts falling due between two and five years:
Bank loans - 2-5 years 22,320 21,840
Amounts falling due in more than five years:

Repayable by instalments:
Bank loans more 5 yr by instal 3,116 9,271

Swansea City Mission & Educational Trust

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Bank loans 395,855 436,566

Bank borrowings are secured by means of a charge over the charities freehold property.

12. MOVEMENT IN FUNDS
Net
movement At
At 1.4.24 in funds 31.3.25
£    £    £   
Unrestricted funds
General fund 606,693 (134,170 ) 472,523

Restricted funds
Share capital by guarantee 850 - 850
Property Development Fund 9,375 - 9,375
Revaluation Reserve - 110,000 110,000
10,225 110,000 120,225
TOTAL FUNDS 616,918 (24,170 ) 592,748

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 5,288 (139,458 ) - (134,170 )

Restricted funds
Revaluation Reserve - - 110,000 110,000

TOTAL FUNDS 5,288 (139,458 ) 110,000 (24,170 )


Swansea City Mission & Educational Trust

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 676,850 (70,157 ) 606,693

Restricted funds
Share capital by guarantee 850 - 850
Property Development Fund 62,257 (52,882 ) 9,375
Revaluation Reserve 1,078,284 (1,078,284 ) -
1,141,391 (1,131,166 ) 10,225
TOTAL FUNDS 1,818,241 (1,201,323 ) 616,918

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 3,282 (73,439 ) (70,157 )

Restricted funds
Property Development Fund - (52,882 ) (52,882 )
Revaluation Reserve - (1,078,284 ) (1,078,284 )
- (1,131,166 ) (1,131,166 )
TOTAL FUNDS 3,282 (1,204,605 ) (1,201,323 )

Designated Fund

Property Development Fund
Specified donations received towards planned property developments.

Restricted Funds

SDF Fund
Grant received for maintenance and upkeep property gardens and grounds.

Revaluation Reserves
A restricted fund in relation to the the revaluation of the property, Nicholston House.

Swansea City Mission & Educational Trust

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

13. RELATED PARTY DISCLOSURES

During the year the charity paid £1,914 to Beor Wilson Lloyd Solicitors, a firm connected to a former trustee, in relation to services regarding the property, Nicholaston House,

14. POST BALANCE SHEET EVENTS

The sale of Nicholaston House was completed on 3 April 2025.

15. GOING CONCERN

The Charity has completed the sale of its property post year end which has generated sufficient funds to continue its activities over future periods. The Trustee's believe that the charity is a going concern and its accounts have been prepared under this basis.