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2023-09-30-accounts

SERVING SCHOOLS INSPIRING MINDS EXPLORING FAITH

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 2023

CHRISTIAN EDUCATION PROJECT

Year ended 30 September 2023

Page
Year in Review 2022-2023 2
2022-2023 Photographic Highlights 3
Charitable Company Information 4
Trustees’ Annual Report (Including Directors’ Report)
• Legal framework 5
• Strategic aims and objectives 5
• Achievements and performance in the year 5
• Future plans 6
• Financial review 7
• Structure framework and management 10
• Trustee responsibilities 12
• Compliance with laws and regulations 12
Independent Examiner’s Report 13
Statement of Financial Activities 15
Balance Sheet 16
Notes to the Financial Statements 18

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CHRISTIAN EDUCATION PROJECT

Year ended 30 September 2023

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CHRISTIAN EDUCATION PROJECT

Year ended 30 September 2023

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CHRISTIAN EDUCATION PROJECT

Year ended 30 September 2023

CHARITABLE COMPANY INFORMATION

Trustees

Mr K Gardner (Chair) Rev C Halm Mrs V Hayden Ms Y Hurley Mr M Payne 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 32 George Lane South Woodford London E18 1LW Independent Examiner Ms 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

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

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 2023.

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 (Serving Schools – Inspiring Minds – Exploring Faith). 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 directly with 52 schools across the Borough and surrounding area; from Nursery to Sixth Form. This is an increase from 49 in the previous year, a sign that we are bouncing back from the challenges presented by Covid and are as needed if not more now than ever. In addition to the 52 schools we worked with directly, we were pleased to provide resources to 4 more schools and to share our Easter assembly with over 30 churches and schools work projects around the country where it was used to reach thousands of additional children.

The Project workers network regularly with other Christian Schools Workers and are supported by a prayer group which restarted in autumn 2022, led by two of the Trustees. This meets termly both online and in person to pray for the work of the Project and the team. We are also pleased to attend meetings of the Wanstead and Woodford Evangelical Fellowship and New Wine leadership events at a local member church.

The Project actively seeks to partner with local churches, their leaders and youth workers in its engagement with their local schools. In undertaking these aims and objectives, and in the results achieved as highlighted below, the Trustees consider that the Project fully meets the public benefit requirements as outlined by the Charity Commission.

Achievements and performance in the year

This year was the first since the pandemic which had a semblance of normality and things returning to familiar patterns. Apart from during one snow day, all of our engagements were carried out in person and assemblies were generally back to their normal capacity which meant we served the same number of pupils in fewer assemblies. We felt that this

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

year was another success despite challenges arising from procuring new office space and moving after 25 years in the same location.

A review of the highlights by term is set out below:

Staff Changes

At the end of the last academic year, we expressed our thanks to Ashley Faria who had partnered with Sam Lockstone in covering Velisha Lynch’s maternity leave. He left us for a SENDCo role in a local school and we have been pleased to keep in touch with him. Velisha returned to work on 1 October 2022 and Sam Lockstone was able to stay for 11 hours per week on a term time only basis. Having recently graduated from a degree course, Sam obtained a place on an MA programme and left us at the end of July. We are extremely grateful for everything she gave to the project and wish her well in her future endeavours.

Future plans

In last year’s report the Trustees set out our aim to continue to consolidate the work of the Project across the Borough’s schools, whilst consciously looking to engage with a number of schools that the Project had not been in recent contact with. In addition we seek to continue to engage with the Borough’s secondary schools’ Religious Education GCSE programme. As noted in the Achievements section above, we have a very successful and

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

expanding Christingle workshop which we deliver before Christmas. We aim to meet as much of the increasing demand for this as possible.

The team are continuing to use our Transition booklet “Higher Things” and this year we distributed 1,700 copies to Year 6 pupils across the Borough’s schools. We are grateful to London over the Border (LoB) who gave us a grant to support the work in this last year and are planning a similar campaign next summer.

As noted in the Achievements section, schools greatly value the work of the Project. Given our ability to be highly flexible and a free resource to schools, which are also facing continuing 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.

A recent new area for the Project is providing a mentoring service to Primary Schools to assist with children’s mental health and well-being. This work was pioneered by Sam Lockstone and over the last academic year was supported by a grant from LoB. In August we received another grant from Tesco Community and this will enable us to continue offering this service in Redbridge schools.

As a consequence, as noted in the Structure, framework and management section, the Trustees are continuing to keep the Project Workers staffing above the 2.0 FTE level. We are pleased that we have been able to obtain the services of Jenny Mumford, a qualified teacher, as an Associate Worker, from November 2023. She will be providing flexible support around one day per week in term time. Towards the end of the current academic year, when hopefully the way ahead is clearer, the Trustees together with the Project Team intend to review the work and staffing levels of the Project in order to ensure that we can meet our financial commitments.

Since the year end the Project has been selected by the Diocese of Chelmsford to partner in a scheme promoting Prayer Spaces in schools in our area called “Praying and Learning Together”. As part of the partnership the Project will second a member of staff averaging 7 hours a week in term time to the Diocese, who have agreed to reimburse the relevant costs.

The Trustees and team held an away day in October 2023 with the main focus of engaging with the local emerging ethnic and non-English speaking churches and in building greater support among Christian families with children in Redbridge schools.

The Project will continue to put additional resources into our digital presence, including making more use of our Facebook page

https://m.facebook.com/TheChristianEducationProject. This is both in terms of updating and expanding our new website (www.christianeducationproject.org.uk) which went live in October 2022, 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 thankful to our faithful supporters, both churches and individuals, who have continued to pray for and donate to the Project during an increasingly challenging and uncertain economic environment.

The income for the year amounted to £103,871 (2022: £61,782) and expenditure, including management expenses amounted to £92,021 (2022: £79,502) resulting in an operational surplus of £11,850 (2022: £(17,720)).

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

The increase in income resulted from grants and legacy income as well as increased donations from our supporting churches and individuals. Details of the grants received for both general and restricted purposes are given in Note 2b) of the Financial Statements.

The Trustees are aware that the General Fund has received just over £13,700 in legacies and grants that will not reoccur. The giving by Individuals is now larger than the donations from member churches but their combined giving is still less than overall cost of the staff. The Trustees believe that good communications with our supporters will enable us to close this operational gap and during the year have invested in a Donor Management System to aid them in this aim.

As shown in Note 7 the staffing levels have remained at the same level as the previous year. Although the overall is above 2 FTE the Trustees have decided not to withdraw an amount from the Designated “Third Worker fund” as the General Reserves are above the Trustees desired level of of £25k, see below The Statement of Financial Activities (SOFA) shows a surplus on unrestricted operations of £9,919 (2022 £(16,678)) before transfer.

The Trustees have agreed a transfer to the General Fund from the Schools Transition Fund of £1,088. The transfer represents the costs of “Higher Things” purchased in 2022, and distributed this year. Trustees had anticipated the Project would have received the related LOB grant last year, but it was not received until this year. Details of the transfers are set out in Note 12. Therefore, the final result for the General Fund was a reserves balance of £31,079 (2022: £ 20,072).

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. As noted above despite the increases seen this year, we are not yet in that position. The team have carried out more church visits during this year which has enabled us to emphasise the work of the Project and the potential impact it has at a time when many churches are having to reduce their outreach to local schools. The Project is forecasting a deficit over the next two years which will require the Trustees to utilise the Designated Fund to support the General Fund at the desired level.

In the light of the additional unrestricted funds received this year it was decided to suspend plans for a “Schools Work Month” in September 2023. This was designed to replace the annual Gift day and help reduce an operational funding gap. The Trustees anticipate that this will need to be re-activated in September 2024.

As set out in Note 12 the Trustees only have the Third Worker fund available to meet any deficits on the General operational budget for future years.

The project re-located to Woodford Baptist Church (WBC) in January 2023, together with a change to our Registered Office. WBC has provided the Project with rent free office accommodation; WBC regards this as part of their ongoing support of the Project. Prior to January the Project was based at Clayhall Baptist Church (CBC) until its closure at 31 December 2022. The Trustees are grateful to CBC for providing rent free accommodation to the Project for many years; as it believed the Project’s work was consistent with their ministry to the local community.

Reserves policy

The Trustees carried out a detailed review of the level and calculation of the Project’s reserves as at 30 September 2023. 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 resulted in a target reserve balance, on the General fund, of around £22,000 as at the year end. In the review the Trustees considered additional factors which increases the reserves to £25,000 and believe that this level is more appropriate in most circumstances.

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

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 124% of the target level following the Trustees review.

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.

Designated Funds

The Third Worker fund represents designated funds for the employment of a third schools worker. As noted above the core donations are not covering the direct employment costs of the team and as the current balance represents approximately 2 year’s employment costs of an additional team member the Trustees do not anticipate activating an increase in the schools’ Work team. In the past the fund has been used to support any shortfall in the General Fund.

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 Transition workshops “Higher Things” campaign has received a grant of £2,500 from LoB this year. As the Trustees had purchased copies of the booklet in 2022 which they distributed this year, a transfer of the surplus representing the relevant cost was transferred to the General Fund of £1,088 (2022 £ (797)). The Project anticipates a similar campaign next year and will be requesting the necessary funds from churches and supporters.

Following receipt of a grant from LoB for Mentoring of £3,120 in the year the project has allocated costs incurred in respect of this activity to the fund. In August the Project received a further grant of £500 from Tesco Community to part fund this activity to August 2024. At the year end the fund had a balance of £843.

The Project was allocated a grant of up to £1,245 from Westhill Endowment Trust to operate Prayer Spaces in Borough schools in the last academic year. Costs of £1,161 were incurred and the amount was refunded to the Project after the year end.

As noted above the Trustees appreciate the need 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.

As mentioned in previous years, 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. As noted above the Trustees and Schools work team are looking at ways in which the visits to churches can be expanded during the next year.

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

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 will also continue to approach suitable Foundations and Grant making bodies for support and grants for parts of our activities.

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 the Project has reported a surplus of £11,007 (2022 deficit £6,486) on the General fund after transfers. As a result the General Fund shows a balance of £31,079 (2022: £20,072). As noted under the reserves policy this means that the General fund is now at 124% (2022:100%) of the Trustees preferred reserves balance.

As noted above the core income from supporters does not cover the direct employment costs of the team. The Trustees have prepared deficit budgets for the next two years; following a generous legacy of £11k from Clayhall Baptist Church received in November 2023 the deficit is almost eliminated for the next year and a further £13k in the following year. Trustees appreciate that the additional income received this year in grants and legacies for the General Fund has given the Project more time to achieve its aim of covering operational costs from its core supporters.

It is the Trustees prayer, belief and intention 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.

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

At the Away-day the Trustees raised the possibility of converting to a Charitable Incorporated Organisation (CIO). Further research and exploration will be carried out in the coming years.

Structure framework and management

Helen Mullis Kunda, the Project Leader, has now been with the Project for over five years, having been appointed in September 2018. The team also includes two part-time members of staff who work between 2 and 3 days per week. The team are also supported by a part-time administrator, Joanne Waterfield. This enables the other members of the team to concentrate their efforts in the schools.

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 4.

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

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 AGM when they retire and being 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. The Trustees are particularly keen to recruit a new Trustee to act as Treasurer after Martin Williamson retires at the AGM.

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 continued to act as Chair of Trustees.

Retirement of Trustees

Martin Williamson is retiring at the forthcoming AGM following his move to Andover in 2024. Rev C Halm and Mr M Payne retire by rotation and are eligible for re-election at the AGM.

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 year the Trustees have been meeting in person. Following the year end the Trustees and staff have held an away day to review means for expanding the supporter base of the charity and the financial outlook for the Project. This resulted in various actions reported elsewhere in this report.

The Trustees have developed a series of policies covering all material aspects of the Projects 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 agreed relevant key indicators.

Governance Code

The Trustees take the obligations and principles of the Governance Code (code), seriously and seek to ensure that they manage the Project in line with the seven principles and thereby ensure that the Project is well managed and effective. The Trustees are confident that they have a full 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.

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

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 the Project. The Trustees reviewed the current policies the risks to which the charity is exposed and the control procedures. 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 29 (2022 – 29) 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 consider that the Independent Examiner is providing the Project with a good service and have agreed that they will not review the appointment until after 2024. They have also agreed that it will be good practice to hold a fuller review after that date and before 2027.

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.

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CHRISTIAN EDUCATION PROJECT TRUSTEES ANNUAL REPORT (including Directors’ Report) Year ended 30 September 2023

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 18 January 2024 and signed on its behalf by:

K Gardner Chair

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CHRISTIAN EDUCATION PROJECT Independent Examiners Report Year ended 30 September 2023

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 September 2023 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: - 18 January 2024

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CHRISTIAN EDUCATION PROJECT STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) Year ended 30 September 2023

Notes
Income from
Donations and legacies
2(a)
Grants
2(b)
Fundraising
2(c)
Investment income
2(d)
Other
2(e)
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
£
78,313
8,480
1,237
3,110
5,450
96,590
86,671
86,671
9,919
1,088
11,007
71,549
82,556		 Restricted
funds
£
-
7,281
7,281
5,350
5,350
1,931
(1,088)
843
-
843		 2023
Total
funds
£
78,313
15,761
1,237
3,110
5,450
103,871
92,021
92,021
11,850
-
11,850
71,549
83,399		 2022
Total
funds
£
55,511
-
1,634
325
4,312
61,782
79,502
79,502
(17,720)
-
(17,720)
89,269
71,549

All income and expenditure derive from continuing activities

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

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CHRISTIAN EDUCATION PROJECT BALANCE SHEET Company number 02534646 Year ended 30 September 2023

Notes
Fixed assets
Tangible fixed assets
8
Current assets
Debtors: amounts falling due within one year
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		 2023
£
-
4,093
82,449
86,542
(3,143)
83,399
83,399
31,079
51,477
82,556
843
83,399		 2022
£
33
666
73,973
74,639
(3,123)
71,516
71,549
20,072
51,477
71,549
-
71,549

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

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CHRISTIAN EDUCATION PROJECT BALANCE SHEET Company number 02534646 Year ended 30 September 2023

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 2023 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 18 January 2024 and were signed on their behalf by:

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

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 4 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

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

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.

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

a)

2 Income from
Donations and legacies
Donations
Legacy income		 2023 Total
Funds
73,062
5,251
78,313		 2022 Total
Funds
55,511
-
55,511

Included in donations are amounts totalling £ nil (2022- £750) which are Restricted Funds as the donors have described that these funds are to be expended on:

b)

c)

Transition workshops programme
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
Grants
Unrestricted
Barkingside Christian Centre Project
Alexis Trust
Restricted Funds
London over the Border - Mentoring
London over the Border - Schools Transition
Westhill Endowment Trust
Tesco Community Grants
Fundraising
Fundraising in support of Charitable activities		 2023
£
-
8,163
8,000
480
8,480
3,120
2,500
1,161
500
7,281
15,761
1,237		 2022
£
750
5,084
-
-
-
-
-
-
-
-
1,634

All fundraising in 2023 and 2022 was for Unrestricted Funds and resulted from Quiz night in October 22 and the Gift Day held in June 2022 respectively

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

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

d)
Investment Income
2023
£
Deposit account interest
3,110
All deposit account interest is allocated to the Unrestricted Funds
2023
£
e)
Other
Sundry income
5,450
All sundry income is allocated to Unrestricted Funds
3 Expenditure on
Charitable activity - schools work
2023
£
Staff costs (note 7)
82,311
Staff expenses
1,421
Fundraising expenses
110
Charitable activities resources
2,986
Direct costs
86,828
Allocated support costs (note 5)
5,193
92,021		 2022
£
325
2022
£
4,312
2022
£
70,633
2,105
57
-
72,795
6,707
79,502
92,021
79,502		 92,021
79,502
Included in the Direct costs shown above are the following amounts charged to Restricted funds in 2023, (2022
£nil).
Mentoring
Staff costs 2,631
Staff expenses 70
Charitable activities resources 72
2,773
Prayer spaces
Charitable activities resources 1,063
Transition workshops
Staff costs 1,412
Total direct costs charged to Restricted funds 5,248

An analysis of the Support costs between Unrestricted and Restricted Funds is shown in note 5

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

4 Net Income/(expenditure)

Net resources are stated after charging/(crediting)

Independent examiner's fees - Examination fee
Depreciation-owned assets		 590
33		 595
91

5 Support costs allocation

The following support costs have been allocated to the charitable activity of schools work.

Insurance
Telephone & communications
Printing,postage & stationery
Repairs & maintenance
Sundries
Computer equipment
Website development
Bank charges
Governance costs: Accountancy		 811
975
912
99
564
1,063
-
179
590
5,193		 760
1,386
2,215
-
512
841
245
153
595
6,707

All the above support costs relate to the Unrestricted Funds apart from the following amounts which are charged to the following Restricted Funds:

Mentoring

which are charged to the following Restricted Funds:
Mentoring
Printing,postage & stationery
Prayer Spaces
Printing,postage & stationery
Transition workshops
Printing,postage & stationery
Website development
Website development		 4
98
-
-
1,257		 -
-
1,547
245
1,792

6 Trustee Remuneration Benefits and Expenses

There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022

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 2023 nor for year

ended 30 September 2022

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

7 Staff Costs

Staff Costs
Wages and salaries
Social security costs
Other pension costs		 2023
£
75,944
4,966
1,401
82,311		 2022
£
64,964
4,306
1,363
70,633

The staff costs allocated to the restricted funds are shown along with other allocated direct costs in Note 3 above

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
Tangible Fixed Assets
COST
At 1 October 2022
Additions in year
At 30 September 2023
DEPRECIATION
At 1 October 2022
Charge for the year year
At 30 September 2023
NET BOOK VALUE
At 30 September 2023
At 30 September 2022		 2023
Number
4.8
2.5
Fixtures &
Fittings
Computer
Equipment
£
£
8,101
4,614
-
-		 2022
Number
4.9
2.4
Total
£

12,715

-
8,101
4,614		 12,715
(8,101)
(4,581)
-
(33)		 (12,682)
(33)
(8,101)
(4,614)		 (12,715)
-
-
-
-
33		 33

8 Tangible Fixed Assets

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

9 Debtors: Amounts falling due within one year
2023
£
Other debtors
4,093
Included in other debtors is accrued income of £1,161 in respect of the restricted fund
10 Cash at bank and in hand
CCLA deposit account
75,333
Barclays plc current and deposit accounts
7,116
82,449
11 Creditors: Amounts falling due within one year
2023
£
Taxation and social security
921
Accruals
2,222
3,143
12 Movement in Funds
At 1
October
2022
Net
movement
in funds
£
£
Unrestricted funds
a)
General fund
20,072
11,007
b)
Designated fund
Third worker
51,477
-
71,549
11,007
c)
Restricted funds
Mentoring
-
843
Prayer spaces
-
-
Transition workshops
-
-
-
843
TOTAL FUNDS
71,549
11,850		 9 Debtors: Amounts falling due within one year
2023
£
Other debtors
4,093
Included in other debtors is accrued income of £1,161 in respect of the restricted fund
10 Cash at bank and in hand
CCLA deposit account
75,333
Barclays plc current and deposit accounts
7,116
82,449
11 Creditors: Amounts falling due within one year
2023
£
Taxation and social security
921
Accruals
2,222
3,143
12 Movement in Funds
At 1
October
2022
Net
movement
in funds
£
£
Unrestricted funds
a)
General fund
20,072
11,007
b)
Designated fund
Third worker
51,477
-
71,549
11,007
c)
Restricted funds
Mentoring
-
843
Prayer spaces
-
-
Transition workshops
-
-
-
843
TOTAL FUNDS
71,549
11,850		 2022
£
666
for prayer spaces.
66,545
7,428
73,973
2022
£
651
2,472
3,123
At 30 September 2023
£

31,079

51,477
71,549
11,007		 82,556
-
843
-
-
-
-
843

-

-
-
843		 843
71,549
11,850
83,399

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

12 Movement of Funds (continued)

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

Unrestricted funds
a)
General fund
b)
Designated fund
Third worker
c)
Restricted funds
Mentoring
Prayer spaces
Transition workshops
TOTAL FUNDS		 Income
Expenses
Transfers
Movement
in funds
£
£
£
£
96,590
(86,671)
1088
11,007
-
-
-
-
96,590
(86,671)
1088
11,007
3,620
(2,777)
843
1,161
(1,161)
-
2,500
(1,412)
(1,088)
-
7,281
(5,350)
(1,088)
843
103,871
(92,021)
-
11,850

Unrestricted funds

General fund

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 140% 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 two years. As the General Fund has been in a surplus this year and the year end balance is above the Trustees minimum level; there has been no movement in this fund during the year. The Trustees will continue to drawdown on the Designated Fund either to fund staff costs in excess of 2 FTE or to support the General Fund.

Restricted funds

The Trustees have reviewed the balances on the restricted funds at 30 September 2023 and are expecting these funds to be utilised as follows:

Mentoring

The Trustees received two grants during the year to support this activity in Redbridge schools. London over the Border gave a grant of £3,120 in February 2023 and this has covered the majority of activities in the year and Tesco Community gave a grant of £500 in August 2023 to cover the activities in the current academic year. Trustees anticipate the balance will be expensed in the next year.

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

Prayer spaces

The Trustees received a grant from Westhill Endowment Trust to cover the expenses on prayer spaces incurred by the Project. At the year end the team have submitted a report on the expenses incurred the funds were received on 09/10/23 after the year end.

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 supported by a grant from London over the Border in the year. 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 2024

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
£
£
£
-
-
-
82,449
-
82,449
2,932
1,161
4,093
(3,095)
(48)
(3,143)
-
-
-
82,286
1,113
83,399
33
-
33
73,973
-
73,973
666
-
666
(3,123)
-
(3,123)
-
-
-
71,549
-
71,549

14 Contingent Liabilities

There were no contingent liabilities at the year end (2022 £nil)

15 Related Party Transactions

The Trustees, having made enquiries, are not aware of any donations received from supporting churches with which there is a related party link.

16 Post balance sheet event

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

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

17 Financial instruments

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		 2023
2022
£
£
-
-
4,093
666
82,449
73,973
86,542
74,639
-
-
3,143
3,123
-
-
-
-
3,143
3,123

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CHRISTIAN EDUCATION PROJECT NEXT TO THE FINANCIAL STATEMENTS Year ended 30 September 2023

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
2022 Total
funds
£
£
£
54,761
750
55,511
-
-
-
1,634
-
1,634
325
-
325
-
-
-
4,312
-
4,312
61,032
750
61,782
77,710
1,792
79,502
77,710
1,792
79,502
(16,678)
(1,042)
(17,720)
(808)
808
-
(17,486)
(234)
(17,720)
89,035
234
89,269
71,549
-
71,549

All the restricted funds income and expenditure shown above relate to transition workshops; apart from £245 of expenditure on website development

Page | 28

CHRISTIAN EDUCATION PROJECT DETAILED STATEMENT OF FINANCIAL ACTIVITIES Year ended 30 September 2023

INCOMING RESOURCES
Voluntary income
Donations
Grants
Fundraising
Legacies received
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 resources
Governance costs
Accountancy
Support costs
Management
Insurance
Telephone &
communications
Printing,postage & stationery
Repairs & maintenance
Sundries
Computer equipment
Computer depreciation
Website development
Finance
Bank charges
Total resources expended
Net income (expenditure)		 Unrestricted
funds
£
73,062
8,480
1,237
5,251
-
88,030
3,110
5,450
96,590
71,901
4,966
1,401
45
1,306
110
1,851
81,580
590
590
811
975
810
99
564
1,030
33
-
4,322
179
86,671
9,919		 Restricted
funds
£
-
7,281
-
-
-
7,281
-
-
7,281
4,043
-
-
-
70
-
1,135
5,248
-
-
-
-
102
-
-
-
-
-
102
-
5,350
1,931		 2023
Total
Funds
£
73,062
15,761
1,237
5,251
-
95,311
3,110
5,450
103,871
75,944
4,966
1,401
45
1,376
110
2,986
86,828
590
590
811
975
912
99
564
1,030
33
-
4,424
179
92,021
11,850		 2022
Total
Funds
£
55,511
-
1,634
-
-
57,145
325
4,312
61,782
64,964
4,306
1,363
80
2,025
57
-
72,795
595
595
760
1,386
2,215
-
512
750
91
245
5,959
153
79,502
(17,720)

This page does not form part of the financial statements

Page | 29