OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-09-30-accounts

----- Start of picture text -----
.
----- End of picture text -----

CHRISTIAN EDUCATION PROJECT

A Company Limited by Guarantee 02534646 (England and Wales) Registered charity 1012480

TRUSTEES’ ANNUAL REPORT

AND FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2021

CHRISTIAN EDUCATION PROJECT

Year ended 30 September 2021

Page
2020-2021 Review 2
Charitable Company Information 3
Trustees’ Annual Report (Including Directors’ Report)
• Legal framework 4
• Strategic aims and objectives 4
• Achievements and performance in the year 5
• Impact of Coronavirus 7
• Future plans 7
• Financial review 8
• Structure framework and management 10
• Trustee responsibilities 13
• Compliance with laws and regulations 13
Independent Examiner’s Report 14
Statement of Financial Activities 15
Balance Sheet 16
Notes to the Financial Statements 18

Page | 1

CHRISTIAN EDUCATION PROJECT

Year ended 30 September 2021

“Thank you so much for today – everyone was buzzing from the session!” – Secondary School Head of RE

www.christianeducationproject.org.uk

Page | 2

CHRISTIAN EDUCATION PROJECT

Year ended 30 September 2021

CHARITABLE COMPANY INFORMATION

Trustees Mr K Gardner (Chair) Rev C Halm Appointed 26 May 2021 Mrs V Hayden Ms Y Hurley Mrs S Read Mr M Williamson

Company Secretary Mr M Williamson Registered Company Number 02534646 (England & Wales) Registered Charity Number 1012480 Principal Address & Registered Office Clayhall Baptist Church 62 Harewood Drive Clayhall Ilford, Essex IG5 0PH Independent Examiner Sylvia Lambden Calculus Accountants and Tax Advisers Ltd 5 Priory Road Loughton, Essex, IG10 1AF Bankers Barclays Bank PLC Barclays Business Centre 50 Pall Mall London SW1 1QS

Page | 3

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

The Trustees of the Christian Education Project (the Project) present their annual report, together with the financial statements, which have been independently examined for the year ended 30 September 2021.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 issued in October 2019

Legal framework

The Project is a charitable company limited by guarantee as defined by the Companies Act 2006.

The Trustees who are also directors of the charity have prepared the report to meet the requirements for a directors’ report and accounts for Companies Act purposes. The Financial Statements comply with the Charities Act 2011, the Companies Act 2006 and the company’s Memorandum and Articles of Association approved by the membership on 11 October 2015.

Strategic aims and objectives

In accordance with the Memorandum and Articles of Association, the objects are as set out in the Mission Statement. The Project was established in 1991 to serve the schools in Redbridge by sharing the Christian faith in the delivery of age-appropriate lessons and assemblies that enable the schools to comply with the Christian aspects of the RE Syllabus.

The Project works by invitation only and during the year under review, worked in many schools across the Borough; from Nursery to Sixth Form. However, because of the impact of the COVID-19 restrictions in schools, which meant that most interactions were done digitally, it is not possible to give an accurate figure for the number of schools the Project worked with. Nevertheless, it is likely that the total number of schools is not different from the 53 in the previous year.

The Project actively seeks to partner with local churches, their leaders and youth workers in its engagement with their local schools. Where possible during the COVID-19 restrictions the Project workers have continued to network with other Christian Schools Workers. Sadly the prayer group that supports the Project has not been able to meet during the COVID-19 restrictions but plans are in place to restart these meetings in the very near future.

As noted in last year’s report, the Trustees together with the Team have held an ‘Awayday’ on 8 September 2021 to review the aims and work of the Project. A Strengths, Weaknesses, Opportunities and Threats analysis was also carried out. In particular, the Trustees have expanded the Mission Statement to read, “Serving Schools, Inspiring Minds, Exploring Faith” as we believe that this better reflects the aims of the Project in the current educational climate.

Page | 4

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

During the year the Project celebrated its 30th Anniversary and a service of thanksgiving and re-commissioning was held on Saturday, 25 September 2021 at which the expanded Mission Statement was revealed.

Public Benefit

The Trustees are aware of the public benefit guidance from the Charity Commission and consider that the activities of the Project under the strapline “Serving Schools; Inspiring Minds; Exploring Faith” fully meets the Commission’s guidance. The Trustees consider that the activities outlined in the Achievements section below are consistent with providing public benefit for the following reasons:

Achievements and performance in the year

The 2020-2021 academic year, much like its predecessor, was shaped by the coronavirus pandemic and its repercussions. Many of these have been frustrations, yet still others have proved to be opportunities. In all, the Project has shown tenacity, flexibility, and resilience in finding ways to fulfil our mission statement with the schools of Redbridge and at times beyond its borders in spite of circumstances.

As previously noted above, in Strategic aims and objectives, unlike in other years, it is difficult to make assertions about the number of schools served. However, we know that we produced an offer for school of which we are proud and from feedback it was widely engaged with and found to be greatly beneficial.

Some tangible highlights of our work this academic year include:

Page | 5

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

As ever, it is worth noting that these are just some of the highlights from what has been another extremely busy year for the team and it is encouraging to see that the Project has managed to share what Christians believe in more schools and with more children over the last year than we could previously have thought possible given the ongoing situation with coronavirus; the Trustees believe that this is an indication of the advantages of increasing the staff above 2 full time equivalent (FTE) schools workers.

Staff Changes

After her maternity leave during most of 2020, Heather Webb returned to the Project in October 2020 and took her accrued annual leave. She returned to schools’ work in November 2020.

During the 3[rd] Lockdown (between January and March 2021), the team were placed on furlough part time as schools were closed. Hours changed on a monthly basis depending on demand.

During this time, Heather Webb asked for and was granted a period of unpaid compassionate leave. She returned to work 0.5 FTE in September 2021.

Sam Lockstone also asked for and was placed on unpaid compassionate leave during September and October 2021.

Velisha Lynch started her maternity leave in November 2021 and was replaced by Sam Lockstone (0.2 FTE) and Ashley Faria (0.2 FTE) a qualified and experienced teacher who is familiar with the Project through his work in Redbridge schools.

Page | 6

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

Impact of Coronavirus

As noted in the Achievements paragraphs above the Project has been working within a changing environment of lockdowns and other restrictions as a result of the COVID-19 pandemic. Consequently the Trustees and Project Leader have been constantly reviewing the impact that the crisis continues to have on the Project.

Factors that may impact the Project detrimentally in the future include a drop in donations and other voluntary income and limitations to meet and engage with donors and churches due to social distancing. The Trustees are thankful for the level of support and interest in the Project currently being seen across both churches and individuals.

The Project Leader and Trustees have been working to comply with Government guidance in developing a series of mitigating factors including:

The Trustees continue to monitor the response to this ongoing situation and will continue to act in a manner that both protects staff and limits the risk to the ongoing success of the Project. As noted below under Financial Outlook the Trustees are confident that the preparation of these financial statements under the going concern basis is appropriate given the current situation.

Future plans

As noted in last year’s report, the Trustees aim at the present is to continue to consolidate the work of the Project across the Borough’s schools particularly as schools recover from the impacts of COVID-19. The Project is also consciously looking to engage with a number of schools that the Project has not been in recent contact with, as well as seeking to continue to engage with the Borough’s secondary schools, especially around the Religious Education GCSE.

Following the success of the Project’s own “Higher Things” Secondary Transition booklet and lesson we are planning a similar campaign in 2022. The Trustees will again be seeking additional targeted donations to fund this campaign.

The impact of COVID-19 on Schools has meant that making plans for the future has been much more difficult than in previous years, but the Trustees are also clear that we have seen God’s favour over this difficult time. As noted in the Achievements section, Schools greatly value the work of the Project. Given our ability to be highly flexible and a free

Page | 7

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

resource to Schools who are also facing severe financial difficulties, demand for our services is still very high and there seems little indication that it will not continue to outstrip our ability to support them.

As a consequence, Trustees are continuing to keep the Project Workers staffing at around the 2.0 FTE level and are continually looking at how this can be expanded within the financial constraints that the Project currently faces. Once both the situation in schools and the Project’s long term financial position become clearer the Trustees will again consider how to expand the Team using the Third Worker Fund, although probably over a longer lead time to ensure that we can raise additional funds to cover the expansion.

One area that the COVID-19 crisis has highlighted is the need for the Project to put additional resources into our digital presence, including making more use of our Facebook page https://m.facebook.com/TheChristianEducationProject and also our new YouTube channel www,youtube.com/christianeducationproject which contains our new series of interviews relevant to the Religious Education GCSE.

This is both in terms of updating and expanding our website to make it more accessible, as well as developing our ability to provide short videos on relevant topics including working with local churches on virtual tours of their buildings.

Financial review

Financial results for the year

We continue to be grateful to our faithful supporters, both churches and individuals, who have continued to pray for and donate to the Project during an increasingly challenging economic environment.

The income for the year amounted to £77,565 (2020: £74,549) and expenditure, including management expenses amounted to £81,025 (2020: £87,796) resulting in an operational deficit of £3,460(2020: £13,247).

The income was boosted, this year, by the receipt of £12,000 (2020: £17,000) from the Government’s CJRS. During the financial year we again made use of the scheme when the schools were closed and we placed the relevant staff on furlough either full or part time depending on the changing circumstances and regulations.

We have continued to drawdown the employment costs in excess of 2 FTE staff from the Third Worker Fund. This is a Designated Fund established by the Trustees as a means of funding possible expansion to a full time third schools’ worker. The Transfer this year was £6,000 (2020: £8,007) and details are set out in Note 12.

The Trustees have transferred £7,502 (2020: £7,500) from the Administration Fund to contribute to the employment and related costs of the office. The fund is now extinguished and details are set out in Note 12

While the Statement of Financial Activities (SOFA) shows a deficit on unrestricted operations after these planned transfers there was a surplus of £9,967 (2020: £2,421) on the General fund. This is much better than anticipated by the Trustees when the budget was revised during the year.

Therefore, the final result for the General Fund was a reserves balance of £26,558 (2020: £16,591).

Page | 8

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

The Trustees appreciate that the ability to maintain a Schools work team at its current level is dependent on being able to cover our operational costs with a stable income of donations from either Churches or Individuals. In the light of the current pandemic and the funding shortfall shown in the budget for 2021/22 the Trustees now expect it will take a longer time to reach a schools’ work team of 3 FTE. Therefore, the drawdown of the Third Worker fund will take longer than originally anticipated.

As noted above the continued employment of three schools workers after the Designated Fund is exhausted will be dependent on an increase in giving from our core supporters.

The Trustees are grateful to CBC for their continued support of the Project. CBC believes the Project’s work is consistent with their ministry to the local community. Therefore they make no charge for the use of a room at the Church.

The Schools Transfer campaign “Higher Things”, reported on in the 2020-21 review, operated at a surplus this year £88 (2020: £(444)). Therefore there is no need for a transfer from the General Fund to that Restricted Fund this year (2020: £444).

Reserves policy

The Trustees carried out a review of the level and calculation of the Project’s reserves as at the year end. The reserves policy has in the past been set on the basis of three months of the forecast expenses for the following year. This approach results in a target reserve balance, on the General fund, of around £20,000 as at the year end. The Trustees believe that, this level continues to be appropriate in most circumstances. However the Trustees have decided to hold a larger balance in the short term.

All the reserves are held in cash either at the Project’s bank or in a related money market investment account to which the Trustees have almost instant access.

As well as seeking to maintain a General fund the Trustees have in the past designated unrestricted funds for future opportunities and the expansion of the Project.

The year-end balance on the General fund is 133% of the target level following the Trustees review. The Trustees consider that whilst this level is above our policy balance it represents a satisfactory amount after considering the Designated funds, their liquidity and our future plans.

Designated Funds

At the year end the Project had utilised the balance held at the start of the year of £7,502 in the Administration fund. This fund was a designation of legacy money received in earlier years and has been used to cover the employment and related costs of our administrator. The Trustees do not anticipate re-instating this fund and details are given in Note 12.

The Third Worker fund represents designated funds for the employment of a third schools worker. The Project has drawn down employment costs in excess of 2 FTE schools’ workers and details of this drawdown and the balance are given in Note 12.

Restricted Funds

Any funds that are restricted by the donor at the time of the gift are held in Restricted funds and only utilised for the specific purpose.

As noted in the financial review the Schools Transfer “Higher Things” campaign has operated at a surplus this year after a deficit in the last two years. Therefore there is a

Page | 9

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

balance of £88 to be carried forward. The Project anticipates a similar campaign next year and will be requesting the necessary funds from churches and supporters.

At the year end the Project held £146 (2020:£159) in a restricted fund for website development. As noted above the Project is intending to update its website during the next year and therefore the balance is likely to be extinguished during 2022.

The Trustees monitor the balances of all the funds it holds and sets out in Note 12 to the accounts the anticipated usage of the year end balances.

As noted above the Trustees appreciate the challenge posed by the COVID-19 pandemic and will seek to maintain sound financial management while ensuring the Project achieves its objectives.

Principal funding sources

Funding is provided by churches of all denominations across the Borough with whom contact is maintained through the appointment of "key people" and by taking up opportunities to talk to church groups and congregations. Financial assistance is also given by means of personal donations, fund-raising activities and grants. The Project does not raise funds from the public and continues to offer its services free to schools.

The Project needs to expand its supporter base among both churches and individuals in the Borough and has launched a scheme called “Friends of CEP” to encourage regular committed giving from individuals. The Trustees and the Project Leader are seeking to expand the use of the scheme. The Project set up a text giving service so that supporters can donate £3 by texting CEP to 70085, and are looking at ways to publicise this further among churches. In addition, the Trustees have purchased a cashless terminal to aid one off giving by individuals during church visits. The Trustees hope that these new ways will be a means of expanding support and eliminating the current funding gap.

Financial outlook

As noted above it is encouraging to report a surplus on the General fund this year of £9,941 (2020: £2,421) after the planned transfers from the Administration and Third Worker Funds mentioned above. As a result, the General fund is £26,558 (2020: £16,591). As noted under the reserves policy this means that the General fund is now at 133% (2020:83%) of the Trustees preferred reserves balance.

In the light of the pandemic, and its expected impact on both the churches and individuals who support the Project, the Trustees have decided to accept a deficit budget in the forthcoming year. The Trustees will be continue to seek additional sources of funds from trusts and other grant making bodies for parts of our activities. The Trustees are seeking to re-balance the financial stability of the Project over the next two to three years so that we can maintain our services for local schools. However, this will require an increase in regular giving from our current supporters and a widening of the base so that we can confidently move forward after the pandemic.

The Trustees consider that the charity is a going concern having reviewed the budget and associated cash flow for the following 2 financial years. The Trustees will continue to ensure that the Project is based on sound financial principles.

Structure framework and management

Helen Mullis Kunda, the Project Leader, has now been with the Project for over three years, having been appointed in September 2018. The team also includes three part-time members of staff who work between 1 and 3 days per week. During the year under

Page | 10

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

review when the staffing rose above 2 FTE the excess costs were withdrawn from the designated Third Worker Fund.

Following Velisha Lynch commencing her maternity leave in November 2021, the Project recruited Ashley Faria to provide one working day per week during her maternity leave.

Consequently, during maternity leave the Project Workers staffing is unlikely to rise above 2 FTE and therefore the Trustees are not expecting to withdraw a material amount during the next financial year from the Third Worker designated fund.

The team are also supported by a part-time administrator, Joanne Waterfield, which enables the other members of the team to concentrate their efforts in the schools. Following David Wyatt’s resignation as a Trustee in August 2020 the Trustees agreed that Martin Williamson takes on the role of Secretary to the Project.

The majority of the work within schools is performed by the Project Workers; however as noted above, the Project seeks to work with local churches and youth workers where appropriate. There is also the possibility of making more use of volunteers and the Trustees are continuing to look at ways in which trained volunteers could be used to assist with the delivery of the Project’s work among the Borough’s schools. To date this has not been material to the delivery of the work.

The Trustees of the Project are also directors of the limited company and details of the Trustees serving during the year are shown in Charitable Company Information details on page 3.

Recruitment and appointment of new Trustees

The current Trustees have the power under the Memorandum and Articles of Association to recruit and appoint additional Trustees. New Trustees serve until the next AGM when they retire and are eligible offer themselves for re-election.

The Trustees are keen to expand the skills base of the Trustees and are continuing their search for additional members to assist with the development and mission of the Project. To assist the recruitment prospective Trustees are asked to complete a “skills audit” questionnaire along with a summary of their personal faith and career. All candidates have to complete a Disclosure and Barring Services (DBS) check before their appointment is confirmed.

Rev Claude Halm was appointed as a Trustee on 26 May 2021 he brings new connections to local churches and diversity to the Trustees. After this date no additional Trustees have been appointed during the year under review or to the date of this report.

All new Trustees go through an induction process to familiarise themselves with the organisation, their duties and legal responsibilities.

The Treasurer reports on applicable Charity Commission and other pronouncements at the regular Trustee meetings.

Chair of Trustees

During the year Mr Keith Gardner has acted as Chair of Trustees.

Retirement of Trustees

Mrs V Hayden and Mrs Su Read retire by rotation and being eligible offer themselves for re-election at the AGM.

Rev C Halm having been appointed after the last AGM retires and being eligible offers himself for re-election.

Page | 11

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

Decision making structure

The Trustees usually meet bi-monthly to receive the Project Leader’s report on the activities undertaken and to review the financial position of the charity and its progress compared with the yearly plan. During the pandemic meetings have been held electronically until October 2021 and thereafter in person.

The Trustees have developed a series of policies covering all material aspects of the Project’s activities. These are reviewed by the Trustees on an agreed rotational basis so all policies are updated on a regular basis.

The Trustees have set a pay policy for the staff and use this as part of the annual salary review together with relevant key indicators.

Governance Code

The Trustees take the obligations and principles of the Governance Code (code) which was reviewed last year seriously and seek to ensure that they guide the Project in line with its seven principles and thereby ensure that the Project is well managed and effective. The principles are; organisational purpose; leadership; integrity; decision making, risk and control; board effectiveness; diversity; and openness and accountability.

The Trustees are confident that they have an understanding of their legal responsibilities and are aware of the code and its implications for the ongoing processes and procedures used in the management and governance of the Project. The Trustees are not aware of any material shortcomings against the code.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed; annually The Trustees’ review identifies risks relating to

During the year the Trustees reviewed the current policies and carried out the review of the risks to which the charity is exposed and the control procedures to mitigate the risks. As a result the Trustees believe that appropriate controls are in place, after recognition of the Project’s size, staffing and complexity, and thereby provide reasonable assurance against fraud and error.

Membership of the company

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of a winding up. At present there are 28 (2020 – 28) members of the company. The current members are either the Trustees or supporting churches with a named representative. Membership is open to other individuals or organisations that apply, and are approved by the Trustees acting as directors of the company.

Independent Examiner

Ms Sylvia Lambden of Calculus Accountants was appointed as the charity’s Independent Examiner on 11 July 2017 and remains in post. The Trustees have indicated that they do not intend to review the appointment of Independent Examiner until after 2022.

Page | 12

CHRISTIAN EDUCATION PROJECT TRUSTEES’ ANNUAL REPORT (including Directors’ Report)

Year ended 30 September 2021

Trustee responsibilities

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements 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 during the year then ended.

In preparing those financial statements, the Trustees should follow best practice and are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. The Trustees are also responsible for safeguarding the charity’s assets and hence for taking reasonable steps towards the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included in Christian Education Project website. Legislation in England and Wales governing the preparation and dissemination of financial statements and other information included in Annual Reports may differ from legislation in other jurisdictions

Compliance with laws and regulations

The Trustees have established policies and procedures designed to ensure that it complies with all material laws and regulations in relation to the charitable company’s operations and activities. The Trustees are not aware of any significant non-compliance with laws and regulations relevant to the charity or its operations.

The report of the directors has been prepared taking advantage of the small companies’ exemption of section 415A of the Companies Act 2006.

This report was approved by the Trustees on 12 January 2022 and signed on its behalf by:

K Gardner

Chair

Page | 13

CHRISTIAN EDUCATION PROJECT INDEPENDENT EXAMINERS REPORT

Year ended 30 September 2021

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 September 2021 which are set out on pages 15 to 28.

Responsibilities and basis of report

As the charity 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 company’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 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 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.

The Examiner's relevant professional qualification or body is Association of Chartered Certified Accountants.

Sylvia Lambden FCCA Calculus Accountants and Tax Advisers Limited 5 Priory Road Loughton Essex IG10 1AF

The date upon which my opinion is expressed is: - 12January 2022

Page | 14

CHRISTIAN EDUCATION PROJECT

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) For the year ended 30 September 2021

Notes
Income from
Donations and legacies
2(a)
Grants
2(b)
Fundraising
2(c)
Investment income
2(d)
Charitable activities
2(e)
Other
2(f)
Total income
Expenditure on
Charitable activity
Schools work
3
Total expenditure
Net income/(expenditure)
4
Transfer between funds
12
Net movement in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
57,470
13,986
1,576
11
-
3,872
76,915
80,450
80,450
(3,535)
-
(3,535)
92,570
89,035		 Restricted
funds
£
650
-
-
-
-
-
650
575
575
75
-
75
159
234		 2021
Total
funds
£
58,120
13,986
1,576
11
-
3,872
77,565
81,025
81,025
(3,460)
-
(3,460)
92,729
89,269		 2020
Total
funds
£
53,420
17,073
-
383
396
3,277
74,549
87,796
87,796
(13,247)
-
(13,247)
105,976
92,729

All income and expenditure derive from continuing activities

The accompanying notes on pages 18 to 28 are an integral part of these financial statements

Page | 15

CHRISTIAN EDUCATION PROJECT

BALANCE SHEET Company number 02534646

For the year ended 30 September 2021

Notes
Fixed assets
Tangible fixed assets
8
Current assets
Debtors
9
Cash at bank and in hand
10
Creditors: amounts falling due within one year
11
Net current assets
Net assets
Represented by:
Unrestricted revenue fund- general
12a
Unrestricted revenue fund- designated
12b
Total unrestricted funds
Restricted funds
12c
Total funds		 2021
£
124
622
91,563
92,185
(3,040)
(3,040)
89,145
89,269
26,558
62,477
89,035
234
89,269		 2020
£
389
859
94,643
95,502
(3,162)
(3,162)
92,340
92,729
16,591
75,979
92,570
159
92,729

The accompanying notes on pages 18 to 28 are an integral part of these financial statements

Page | 16

CHRISTIAN EDUCATION PROJECT

BALANCE SHEET Company number 02534646 For the year ended 30 September 2021

The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2021 and of its net resources expended for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies’ subject to the small companies regime

The Trustees acknowledge their responsibility for ensuring the charity keeps proper accounting records in accordance with the requirements of the Charities Act 2011 as more fully set out in the statement of Trustees’ responsibilities in the Trustees’ Report

The financial statements on pages 15 to 28 were approved by the Board of Trustees on 12 January 2022 and were signed on their behalf by:

M Williamson Trustee

Page | 17

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 September 2021

1 ACCOUNTING POLICIES

Christian Education Project is a private charitable company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the charity’s operations and principal activities are set out in the Trustees Annual Report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) , the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound sterling.

Following the transition to FRS 102 for the first time in 2017 all the accounting policies have been reviewed and aligned with the new accounting standard. These policies have been applied consistently to all years presented unless otherwise stated.

The principle accounting policies and estimation techniques are as follows:

a) Income

All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to them as income, ultimate receipt is probable and the amount to be recognised can be quantified with reasonable accuracy.

i) Donations received are included in full when receivable

ii) Grants are recognised in the financial statements in the year in which they are receivable

iii) Fundraising represents amounts received in respect of the Gift Day and fundraising events for supporters and friends.

iv) Legacy income is recognised when the amounts can be quantified with reasonable accuracy and there is a probable likelihood of receipt

b) Expenditure

Expenditure is included on the accruals basis and is inclusive of Value Added Tax. It has been classified in the SOFA under charitable activities.

i) All costs are allocated to the charitable activity represented by Schools work to reflect the resources utilised.

c) Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Fixtures and fittings - 15% on cost

Computer equipment - 33% on cost

Page | 18

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 September 2021

1 ACCOUNTING POLICIES (continued)

d) Cash and cash equivalents

Cash represents cash in hand plus bank balances immediately available to the charity. Cash equivalents are bank balances held on short term deposit available to the charity at up to 3 months’ notice.

e) Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure

f) Taxation

The charity is exempt from corporation tax on its charitable activities

g) Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees

Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal

h) Pension costs

Contributions to the charity’s pension scheme, which is a defined contribution scheme, are charged to the SOFA in the period to which they relate.

i) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern

i) Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires the Trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Other key sources of estimation and assumptions:

i) Tangible fixed assets . Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

ii) Allocation of administration costs A proportion of expenditure is either not directly attributable to the charitable activity of schools work or relates to the central administration of the charity. The Trustees consider that all support costs should be allocated to the charitable activity.

Page | 19

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

2 Income from
a)
Donations and legacies
Donations
Legacy income		 2021
£
58,120
-
58,120		 2020
£
53,420
-
53,420
Included in donations are amounts totalling £ 650 (2020- £1,156) which are Restricted Funds as the Included in donations are amounts totalling £ 650 (2020- £1,156) which are Restricted Funds as the Included in donations are amounts totalling £ 650 (2020- £1,156) which are Restricted Funds as the
donors
have described that these funds are to be expended on:
2021 2020
£ £
Transition workshop programme 650 1,156
Included in donations are the following aggregated amounts given by the Trustees and connected
individuals. Amounts given by Churches connected to the Trustees have been excluded (Note 15)
Total donations 3,647 3,086
b) Grants
Bishop of Barking Discretionary Fund 1,500 -
Coronavirus Job Retention Scheme 12,236 17,073
Brewin Dolphin Limited 250 -
13,986 17,073
All grants received in the current and prior year are for Unrestricted Funds.
c) Fundraising
Fundraising in support of Charitable activities 1,576 -

All fundraising in 2021 was for Unrestricted Funds and resulted from the Gift Day held in November 2020

In 2020 the Project was unable to hold any Fundraising events due to the Covid-19 pandemic.

The charity does not use a professional fundraiser or collect from the General Public.

d)
Investment Income
2021
£
Deposit account interest
11
All deposit account interest is allocated to the Unrestricted Funds		 2020
£
383

Page | 20

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

2 Income from (continued)

2
Income from (continued)
2021
£
e)
Charitable activities
GCSE revision conference
-
All the Charitable activities income is allocated to Unrestricted Funds
f)
Other
Sundry income
3,872
All sundry income is allocated to Unrestricted Funds		 2020
£
396
3,277

3 Expenditure on

Charitable activity - schools work
Staff costs (note 7)
Staff expenses
Fundraising expenses
Charitable activities GCSE revision conference
Direct costs
Allocated support costs (note 5)		 2021
£
74,910
180
172
-
75,262
5,763
81,025		 2020
£
79,316
1,234
-
471
81,021
6,775
87,796

All Direct costs shown above are charged to Unresticted Funds. An analysis of the Support costs between Unrestricted and Restricted Funds is shown in note 5

4 Net Income/(expenditure)

Net Income/(expenditure)
Net resources are stated after charging/(crediting)
Independent examiner's fees - Examination fee
Depreciation-owned assets		 2021
£
585
265		 2020
£
585
304

Page | 21

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

5 Support costs allocation
The following support costs have been allocated to the
charitable activity of schools work.
Insurance
Telephone & communications
Printing,postage & stationery
Sundries
Computer equipment
Website development
Bank charges
Governance costs:
Accountancy
All the above support costs relate to the Unrestricted
Funds apart from the following amounts which are
charged to the following Restricted Funds:
Transition workshops
Printing,postage & stationery
Website development
Website development		 2021
£
728
1,295
951
1,318
759
13
114
585
5,763
562
13		 2020
£
711
1,242
2,353
855
733
161
135
585
6,775
1,600
161

6 Trustee Remuneration Benefits and Expenses

There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020

Under the terms of the company's Memorandum and Articles of Association the directors cannot draw remuneration for their services

The Trustees take responsibility for planning, and controlling the activities of the entity, which is performed on a day to day basis by the Project Leader and staff. Therefore the Trustees are key management personnel.

Trustees' expenses

There were no trustees' expenses paid for year ended 30 September 2021 nor for year ended 30 September 2020

Page | 22

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

Staff Costs
Wages and salaries
Social security costs
Other pension costs		 2021
£
69,338
4,341
1,231
74,910		 2020
£
73,319
4,650
1,347
79,316

The staff costs shown above are charged to the Unrestricted Funds. No employee received emoluments in excess of

£60,000

Pension costs all relate to defined contribution schemes whose assets are held outside the charitable company.

The average monthly number of employees during the year was as follows:

Charitable activity
Full time equivalent - charitable activity		 2021
Number
5
2.5		 2020
Number
5.7
3.3

8 Tangible Fixed Assets

Tangible Fixed Assets
COST
At 1 October 2020
Additions in year
At 30 September 2021
DEPRECIATION
At 1 October 2020
Charge for the year year
At 30 September 2021
NET BOOK VALUE
At 30 September 2021
At 30 September 2020		 Fixtures &
Fittings
Computer
Equipment
Total
£
£
£
8,101
4,614
12,715
-
-
-
8,101
4,614
12,715
(8,101)
(4,225)
(12,326)
-
(265)
(265)
(8,101)
(4,490)
(12,591)
-
124
124
-
389
389

Page | 23

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

9
Debtors: Amounts falling due within one year
Other debtors
10 Cash at bank and in hand
CCLA deposit account
Barclays plc current and deposit accounts
11 Creditors: Amounts falling due within one year
Taxation and social security
Accruals
12 Movement in Funds
Unrestricted funds
a)
General fund
b)
Designated funds
Third worker
Administration
c)
Restricted funds
Transition workshops
Website development
TOTAL FUNDS		 2021
£
622





At 1
October
2020
£
16,591
68,477
7,502		 2020
£
859
2020
£
84,710
9,933
94,643
611
2,551
3,162
Net
movement in
funds
At 30
September
2021
£
£

9,967
26,558

(6,000)
62,477

(7,502)
-
2021
£
81,221
10,342
91,563
684
2,356
3,040
92,570
(3,535)
89,035
-
159
88
88
(13)
146
159 75
234
92,729 (3,460)
89,269

Page | 24

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

12 Movement in Funds (Continued)

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

Unrestricted funds
General fund
Designated funds
Third worker
Administration
Restricted funds
Transition workshops
Website development
TOTAL FUNDS
Unrestricted funds
General fund		 Income
Expenses
Transfers
Movement
in funds
£
£
£
£
76,915
(80,450)
13,502
9,967
-
-
(6,000)
(6,000)
-
-
(7,502)
(7,502)
76,915
(80,450)
-
(3,535)
650
(562)
-
88
-
(13)
(13)
650
(575)
-
75
77,565
(81,025)
-
(3,460)

The General fund represents the unrestricted funds that the Trustees can spend on the charity's aims and objectives. The Trustees consider that a balance of three months expenses represents the level of reserves that the charity should seek to maintain. At the year end the balance represents approximately 133% of this figure.

Designated funds

These are held by the Trustees and the funds are expected to be utilised as follows:

Third worker

The balance brought forward represents the Trustees estimate of the funds needed to increase the schools work team to three for approximately three years. The movement in the year represents the excess employment costs above two full time schools (FTE) workers. The Trustees intend to continue to drawdown the excess costs above two FTE.

Administration

The opening balance represented the estimated administration costs for a year. The funds were transferred to the General Fund during the year and the Trustees do not intend to re-instate the fund in the near future.

Restricted funds

The Trustees have reviewed the balances on the restricted funds at 30 September 2021 and are expecting these funds to be utilised as follows:

Transition workshops

This fund is used to purchase books which are distributed to Year 6 pupils towards the end of the summer term. This activity was generously funded in the year by supporters. The project anticipates continuing the distribution in the coming year and will again be appealing for funds from supporters to fund the distribution in summer 2022

Website development

The Trustees are examining ways in which communications with supporters can be digitised and expect to use the balance for this purpose over the next year.

Page | 25

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

13 Analysis of net assets between funds

Analysis of net assets between funds
Current year
Fixed assets
Cash and current investments
Other current assets
Creditors within/less than one year
Provisions/pensions
Prior year
Fixed assets
Cash and current investments
Other current assets
Creditors within/less than one year
Provisions/pensions		 Unrestricted
funds
Restricted
funds
Total
£
£
£
124
-
124
91,329
234
91,563
622
-
622
(3,040)
-
(3,040)
-
-
-
89,035
234
89,269
389
-
389
94,484
159
94,643
859
-
859
(3,162)
-
(3,162)
-
-
-
92,570
159
92,729

14 Contingent Liabilities

There were no contingent liabilities at the year end (2020 £nil)

15 Related Party Transactions

The Trustees are aware of the following donations received from supporting churches with which the

named Trustee has a link

2021 2020
£ £
Trustee Church Position
All Saints Woodford
M Williamson Wells Trustee - 4,000

Mr Williamson resigned as a Trustee of All Saints Woodford Wells on 18 October 2020. In December 2020 All Saints Woodford Wells made a donation of £4,000 to the Project.

16 Post balance sheet event

There are no post balance sheet events which need to be noted or adjusted for in these accounts.

Page | 26

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

17
Financial instruments
The charity’s financial instruments may be analysed as follows:
Financial Assets
Financial Assets Measured at Amortised Cost
Trade debtors
Other debtors
Cash and cash equivalents
Total Financial Assets
Financial Liabilities
Financial Liabilities Measured at Amortised Cost
Trade creditors
Other creditors
Bank loans and overdrafts payable within one year
Bank loans and overdrafts payable after one year
Total Financial Liabilities		 2021
2020
£
£
-
-
622
859
91,563
94,643
92,185
95,502
-
-
3,040
3,162
-
-
-
-
3,040
3,162

Page | 27

CHRISTIAN EDUCATION PROJECT

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 30 September 2021

18 Prior year comparative Statement of Financial Activities

Income from
Donations and legacies
Grants
Fundraising
Investment income
Charitable activities
Other
Total income
Expenditure on
Charitable activities
Schools work
Total expenditure
Net income/(expenditure)
Transfer between funds
Net movement in funds for the year
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
Restricted
funds
2020 Total
funds
£
£
£
52,264
1,156
53,420
17,073
17,073
-
-
-
383
383
396
396
3,277
3,277
73,393
1,156
74,549
86,035
1,761
87,796
86,035
1,761
87,796
(12,642)
(605)
(13,247)
(444)
444
-
(13,086)
(161)
(13,247)
105,656
320
105,976
92,570
159
92,729

All the restricted funds income and expenditure shown above relate to Transition workshops; apart from £161 of expenditure on website development

Page | 28

CHRISTIAN EDUCATION PROJECT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 30 September 2021

INCOMING RESOURCES
Voluntary income
Donations
Grants
Fundraising
Charitable
activities
Investment income
Deposit account interest
Sundry income
Sundry income
Total incoming resources
RESOURCES EXPENDED
Charitable activities
Wages
Social security
Pensions
Staff training and welfare
Workers expenses
Fundraising expenses
Charitable activities
Governance costs
Accountancy
Support costs
Management
Insurance
Telephone & communications
Printing,postage & stationery
Sundries
Computer equipment
Computer depreciation
Website development
Finance
Bank
charges
Total resources expended
Net income (expenditure)		 Unrestricted
funds
£
57,470
13,986
1,576
-
73,032
11
3,872
76,915
69,338
4,341
1,231
-
180
172
-
75,262
585
585
728
1,295
389
1,318
495
264
-
4,489
114
80,450
(3,535)		 Restricted
funds
£
650
-
-
-
650
-
-
650
-
-
-
-
562
-
-
-
13
575
-
575
75		 2021 Total
Funds
£
58,120
13,986
1,576
-
73,682
11
3,872
77,565
69,338
4,341
1,231
-
180
172
-
75,262
585
585
728
1,295
951
1,318
495
264
13
5,064
114
81,025
(3,460)		 2020 Total
Funds
£
53,420
17,073
-
396
70,889
383
3,277
74,549
73,319
4,650
1,347
346
888
-
471
81,021
585
585
711
1,242
2,353
855
429
304
161
6,055
135
87,796
(13,247)

This page does not form part of the financial statements

Page | 29