The trustees present their report and accounts for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the the trust's governing document, 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 the trust's objects are to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social and economic circumstances with the object of improving their conditions of life; and to advance the Christian faith by the maintenance, repair or restoration of Holy Trinity Church, Hull including supporting the Parochial Church Council of the Ecclesiastical Parish of the Most Holy and Undivided Trinity Hull in the maintenance, repair or restoration of the church.
Holy Trinity Church was renamed Hull Minster after it was re-designated by Archbishop Sentamu of York in 2017.
Policies have been adopted in furtherance of these objects and there has been no changes in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the the trust should undertake.
2025 has seen little finance activity within the Trust but a huge amount of board support, advice and mentoring towards the PCC of Holy Trinity, Hull in embedding the 'Phase 3' project and ensuring its success to bring about long-term financial sustainability.
The trust, in conjunction with the, PCC of Holy Trinity, Hull, will set the priorities for the remaining funds and create a strategy for the next projects and developments.
The trustees are satisfied with the financial position of the trust at the Balance Sheet date.
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a minimum level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trust is a company limited by guarantee and registered with the Charity Commissioners on 8th November 2013.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The trustees have been recruited from the public who are engaged in the procurement of the objectives of the trust.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trust is controlled by the directors, who with the support of a project committee deliver the aims and objectives the trust.
The trust was formed to provide the fund-raising requirements for the Holy Trinity Church, Hull development scheme. The monies raised will be gifted to Holy Trinity Church, Hull who in turn will pay for the works through Holy Trinity Development Ltd, a wholly owned company of the Parochial Church Council of Holy Trinity. All organisations have common members.
The trustees' report was approved by the Board of Trustees.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
I report to the trustees on my examination of the financial statements of Holy Trinity (Hull) Development Trust (the the trust) for the year ended 31 December 2025.
Having satisfied myself that the financial statements of the the trust are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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:
accounting records were not kept in respect of the the trust as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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 financial statements 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.
In the application of the the trust’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.
Holy Trinity (Hull) Development Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Hull Minster, South Church Side, Hull, East Yorkshire, HU1 1RR.
The financial statements have been prepared in accordance with the the trust's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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)". The the trust is a Public Benefit Entity as defined by FRS 102.
The the trust has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the the trust 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.
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.
Cash donations are recognised on receipt. Other donations are recognised once the the trust 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.
Expenditure is shown inclusive of any attributable VAT except for grants to donors.
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, 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, 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 payments 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the the trust’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Grants
None of the trustees (or any persons connected with them) received any remuneration or expenses during the year.
Governance costs includes payments to the auditors of £2,000 (2024- £1,920) for the independent examination and non-audit fees.
The average monthly number of employees during the year was:
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.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
During the year the the trust entered into the following transactions with related parties:
At 31st December 2025 there were no balances due between the Trust and the PCC Holy Trinity Hull (2024 - £0).