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2021-12-31-accounts

THE PEOPLE’S CHRISTIAN FELLOWSHIP Registered Charity No: 1031255

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BALANCE SHEET & ACCOUNTS

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FOR THE YEAR ENDED 31[ST] DECEMBER 2021

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SMITHFIELD ACCOUNTANTS LLP SUITE 1, THE OLD FARMHOUSE STANSTED COURTYARD, PARSONAGE ROAD TAKELY CM22 6PU

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

REPORT AND ACCOUNTS

Contents
Page
Legal and Administrative Information 2
Trustees’ Report & Statement of Trustees’ Responsibilities 3 – 9
Independent Examiner’s Report 10
Statement of Financial Activities 11
Statement of Total Recognised Gains & Losses 12
Balance Sheet 13
Notes to the Accounts 14 - 20

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

LEGAL AND ADMINISTRATIVE INFORMATION

Chairman Elisha Holborough
Secretary Charmaine John-Walden
Treasurer Claudette Wilson
Reporting Accountants Smithfield Accountants LLP
Suite 1, The Old Farmhouse
Stansted Courtyard, Parsonage Road
Takeley, CM22 6PU
Bankers Barclays Bank plc
Lower Tottenham
North East London Group
PO Box 2043
London N18 2BY
Solicitors Dotcom Solicitors
354 High Road
Tottenham
London N17 9HT
Registered Office Springfield Hall
89 Broad Lane
Tottenham
London N15 4DW
Registered Charity Number 1031255

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2021

The Trustees’ present their report and accounts for the year ended 31[st] December 2021.

Name, Registered Office And Constitution of The Charity

The full name of the charity is The Peoples Christian Fellowship (PCF). The charity was formed as an unincorporated charity under a trust deed on the 13[th] January 1994. The registered charity number is 1031255.

The charity is registered in England and Wales.

The registered office is Springfield Hall, 89 Broad Lane, Tottenham, London N15 4DW. Telephone number 020 8801 1873. The objective of the charity is to advance the Christian Faith and other charitable objectives as the trustees determine.

Legal Status

The charity is governed by the constitution adopted on 7[th] December 1993, as amended by the resolution of 31[st] July 2002, which forms the rules and regulations of the charity. The appointment and proceedings of the trustees are dealt with in the constitution, which also set out the qualifications required. There is no formal training given to trustees, but all trustees are given a copy of the constitution on appointment, so that they are familiar with their duties and obligations.

Method of Recruitment And Training of Trustees

The Trustees are appointed by recommendation of the existing Trustees and are trained by them.

Organisation And Decision Making

As Trustees, we work together with the church officers to ensure that the charitable objectives of, and our responsibilities to the organisation have been met.

Charitable Objectives

To advance the Christian faith and for such other charitable purposes as the trustees from time to time determine.

Review of Financial Position

The charity continues to run a small deficit and have adequate reserves, as it continues to fulfil its objectives and complete its charitable projects during the year. The trustees do not foresee any reason why the charity should not be able to continue its current level of activity.

The Charity made a surplus of £532 before gains/(losses) after making charitable expenditure of £193,757. That deficit has been deducted from the Accumulation Income from previous years.

At the year end, the charity had reserves of £3,005,158, of which £2,702,958 are capital funds representing the charity's long term investments.

Reserve Policy

At the present time, the Charity retains sufficient reserves to meet all its obligations for at least six months. The capital fund can only be realised by sale of the freehold property.

Fund Policy

The Trustees have decided to split the accumulated fund into Capital and Income Fund. The Capital Fund represents the value of the freehold land and building required in order to maintain the operation of the church. The Income Fund represents accumulated undistributed income.

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Public Benefit Statement

Having due regards to the guidance published by the Charity Commission on public benefit. The Trustees are of the opinion that the charity continues to provide benefits to its members, Congregation and public in general, through the operation of the church and various other activities.

Principal Sources of Funding

The charity’s main source of funding is regular collections from the church congregation. The charity also receives funding from one off donations, grants, fundraising activities, bank deposit interest and property letting. These resources enable the charity to continue supplying the staff, equipment and consumables necessary to run its numerous activities and pursue its charitable objective of advancing the Christian faith.

Principal Risks and Uncertainties

The principal risk facing the charity are long term financial stability, as the charity needs to continue to produce sufficient income each year in order to continue to deliver its charitable objectives. The charity manages this by continuing to make sure it maintains its existing income streams, and looking for new income streams to fund different activities, while keeping adequate reserves in order to even out short term fluctuations in income.

Risk Management

The major activities and issues of the charity are subject to review at trustees meetings. Where there are issues which have a material risk identified, all reasonable steps are taken to mitigate that risk.

Grant Making Policy

The constitution gives the Trustees the right to give grants to successful applicants having fulfilled all conditions stipulated for such grants. All grants are made in accordance with the charity’s objectives.

Pay of Key Management Personnel

Pay is set at arm’s length according to industry norms, and kept under review by the trustees.

Freehold Property Revaluation

The last professional valuations of Numbers 89 and 91 was during the year to 31[st] December 2021 and the open market value at that date is shown in the accounts.

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THE PEOPLE’S CHRISTIAN FELLOWSHIP 2021 TRUSTEES REPORT

Post Covid19

The pandemic and subsequent lockdowns created unexpected challenges for our church. Due to our concern for the health and wellbeing of our congregation it did not take too much to persuaded us to close our church building to physical gatherings as directed by the government. But we continued to provide our services online.

This year though, we were hopeful that in-person gatherings would once again resume. We endeavoured to make our church a COVID secure premises by introducing protocols and procedures including hand sanitization stations, online prebooking systems, mask wearing and one-way systems throughout the sanctuary.

The number of people attending worship services in-person has decreased since the lockdown has been lifted, but this is in-part due to the fact that we continued to provide simultaneous services on-line. We initiated a partial lockdown towards the end of the year, but we never ceased to provide weekend worship services and online prayer meetings throughout.

Church Department reports

Events Team

Convention 2021 was particularly welcoming, as it encouraged the regrouping of church members in corporate worship. The theme of the convention this year was: ‘Let the Church be the Church.’ Even with the challenges of Covid-19. The church is to be a witness to the world. Our 2021 convention line-up included our very own Pastor David, dynamic praise and worship from our music department. There were also impactful contributions from the Youth, Women, and Men ministries – all sharing their perspective on the theme.

The invitation was extended to the wider community, friends, and family, with a reassurance that measures were implemented to ensure safe in-person corporate worship, especially after an extensive period of lockdown.

Food Bank

Covid-19 has impacted heavily on many of our local residents – causing many to fall into food poverty. Whilst the church remained closed throughout the pandemic, the activities of the Food Bank was continuous.

PCF Food Bank operated from the church building every Wednesday from 11:00 am to 12:30 pm. Between 80 to 120 Participants receive a selection of dried and fresh food items donated by suppliers, charities, members of the church, and local people. The Food Bank is open to all in the community and is managed by a group of volunteers comprising of church and non-church members.

In December 2021 – The Food Bank ramped up their appeal for it to ensure that families in need were well supported. Christmas can be an expensive time for everyone, but for those already on a tight budget or marginalized, the added expenses of increased fuel bills, the extra challenges of covid-19 can plunge many people into crisis, leading them to make difficult choices.

We agreed to add to the Christmas food bags a variety of gifts, toiletries, and snacks. An associate church member donated 100 fresh chickens for the Christmas week. Another provided warm clothing. Some organizations provided us with luxury items which we were able to pass on to our service users. The church, residents, and community services all worked well together. Those who received were overwhelmed and expressed their gratitude.

Music Ministry

Throughout the pandemic and lockdown period, the Music Ministry continued to show up and served in all the online and inhouse services. Whilst this has been a challenge, especially when complying with the Covid-19 health and safety regulations, the team nevertheless, remained successful in their weekly representation throughout 2021. Church members and attendees, and online viewers have repeatedly expressed gratitude of the ‘Music Ministry’ for their remarkable contribution.

Convention 2021 - the ministry contributed various musical items. This included the youth team, the main praise and worship team and the PCF Choir.

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Again, these acts of service touch on all areas of the church mission statement. Where there are people to be impacted, we’re grateful for the opportunity God gives us to serve them.

Youth Workshops - 26[th ] – 29[th] October 2021

Helping the young singers and musicians to hone their skills, by teaching them a new song and giving them space to share in convention. The young people that came were given a chance to be involved in some way and ultimately their contribution to convention was of a high standard and was a blessing to those in attendance.

Children and Youth

We aimed for the 2021 to work closely alongside the church’s spiritual objective, which was based on Matthew 5-7 ‘The Sermon on The Mount’. Our desire was for our young people to really grasp a hold of the invaluable teachings Jesus gave us in this segment of scripture. We based our Sunday school curriculum and Fused Friday sessions and wider projects specifically on ‘The Beatitudes’ and how the text was applicable to their lives.

We faced the challenge of creating consistent programming whilst facing Covid-19 restrictions. We continued with the help of our amazing volunteers to produce dependable, high-quality ministry for our young people.

Sunday School

The Sunday school department worked hard to provide our students with online classes. ‘Sunday school via Zoom’ ran for the full length of 2021. Classes were available every 2[nd] and 4[th] Sunday for one hour before the main service began. We modified the class groups into three age groups: pre-primary, primary, and seniors. They spent the year carefully and methodically teaching lessons from the Beatitudes and Sermon on the mount. We also piloted a supplementary online teaching aide. We used ClassDojo to supplement the Sunday classes and involve parents in the process.

Fused Friday

The Fused team started the year as the Sunday school did, with online sessions. We wanted to have continuity to the theme and create additional learning on the spiritual objective, so we also used the beatitudes as our session theme. We ran a series called “Culture vs the Beatitudes”, this looked at how our present-day culture is in many ways anti Jesus’ teachings. We felt that this was very successful and gave the young people a focused theme for their youth Sunday and their participation in the church’s convention. When the lockdowns were all lifted, we began in person meetings which we found became an interactive and lively time together.

Food bank project

We worked alongside the foodbank to create a mission themed project. Below is the outline/brief: To create an opportunity to join a project that will give insight into working inside a church mission. The young people involved will leave understanding the importance of our church’s work in the community is not just about being kind but is driven by Gods call on a Christians life.

The project should:

All the young people involved gained valuable experience in being part of the project. We were able to commend them at the end of the project with a small gift and certificate for all their hard work.

Summer skills project

We also ran a football camp during the summer half term. Below is the projects mission statement:

The purpose of the Summer skills FC is to inspire positive change through outreach to the young people who attend our ministry, who live in the surrounding area or are connected to our church. The football camp will create an environment where youth 8-16 years of age can participate in football drills and related activities to promote teamwork, hard work, and fun. The camp will take place on 5[th] & 6[th] August, 11am – 3pm at Markfield Park, N15 4RB (unfortunately we don’t have the facility for early drop offs).

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The camp learning the basic skills of passing, dribbling, running with the ball and shooting. These skills will be taught using the biblical principles of “making good choices” & “a right attitude”. There are a lot of fun competitive coaching drills, as well as fun games to learn and adapt these skills.

We were blessed by all the volunteers and young people who were involved in the various ministries throughout a difficult 2021. They stayed connected, building each other up and really digesting the church’s spiritual objective to a noteworthy level that we haven’t attained in previous years.

Men’s Fellowship

Through the year 2021, PCF Men’s Fellowship became drivers in partnering with men from other churches in physically meeting for weekly Saturday mornings prayer and worship meetings. These were often in local parks where the men would unify in declaring the goodness of the Lord

In addition, the Men’s Fellowship maintained their fortnightly street evangelism, irrespective of the weather. The purpose was to equip men to understand the importance of fellowship, and the need to serve in the community, remembering God has served us with grace and mercy through the blood of His Son, Yeshua.

The Men’s fellowship also supported PCF’s Food Bank weekly. On Tuesdays they were dispersed to charities and supermarkets for the collection of donated food items, and on Wednesdays, they went out into the community to deliver food parcels to the elderly and housebound residents.

Towards the latter part of 2021, and after eighteen months of Zoom prayer meetings and bible studies, the men seized the opportunity of returning to weekly meeting in the church premises. On average, approximately ten men were in attendance every Thursday, a reduction of up to five people. It was recognised that people were still somewhat apprehensive of Covid-19.

The morning prayer meetings have grown organically. It is believed that the many testimonies of God’s goodness are the cause of this - i.e., physical healings, situational breakthroughs, family reconciliations, and more.

It is believed that the activities undertaken have enhanced the men in their faith. Bible study informs us, and the prayer meetings serve as an encouragement to serve. We are really grateful for the opportunities we had to minister to others through serving at the food bank and telling people about the love of God.

Kingdom Women

All the activities in 2021, except the Christmas social, were held online.

Health conversations: 20 May and 3 September

This consisted of a discussion about women’s health matters, with subjects such as menopause on the table. The sessions were well attended as being socially isolated women had the chance to connect with one another. The discussions were lively, open, and honest and women shared from their personal experience.

The sessions were open for KW to invite their friends and family to take part.

Health and Wellness – exercise sessions – June 2021

KW saw the need to encourage physical exercise sessions despite being in lockdown. A fitness instructor conducted online exercise sessions for the ladies which occurred fortnightly. The sessions were full of laughter and great fun.

In Conversation – with author Shauna Lewis: book Operation Six: Matters of the Heart – 11 November 2021

It was our privilege to host an open conversation evening with author Shauna Lewis on the 11[th] of November. Ms Lewis has battled with and overcome many health challenges. The purpose of this event was to hear from a woman who had been through a great deal of suffering but who had overcome, to which she credits the grace of God. Many women could identify with the experiences Ms Lewis shared.

Kingdom Women Christmas Social – 18 December 2021

The government had by this time eased lockdown restrictions providing opportunities to celebrate together. The KW Christmas social was a joyous gathering, sharing together, eating, and enjoying each other’s company.

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Spring into Action (SIA)

SIA is the PCF’s bulletin for members and visitors of PCF. We wish to use SIA to encourage its readers and share information relating to members and church (including the wider church) activities.

Towards the end of 2021 SIA was on a temporary stoppage. During the Covid-19 pandemic, SIA was only available online and then in line with the partial return to in person gatherings, we were not sure how many people SIA was reaching, or whether anyone was accessing it online.

SIA has been available with a small number of printed copies for in-person attendees, it is included as an attachment in the weekly emails, and QR Code displayed during services for viewing online from mobile devices.

Going forward we wish to use a tool such as Google analytics to gauge just how far reaching the SIA bulletin goes each month. We still have an aspiration to involve a young person from YPD and also contributors from the Men and Kingdom Women ministries.

PCF STATISTICS

SUMMARY

The pandemic has affected us all in different ways. What we as society once perceived as normal, may now arguably never be experienced in quite the same way again. However, what has not changed for our church organisation, is our absolute confidence in our core beliefs, values, and faith.

Despite the upheaval which our department reports allude to, we made every effort to remain connected, and to support each other spiritually, emotionally, and mentally. We also maintained our care commitment to our community, to support them where they needed support the most.

The various departments within the church have once again been an asset in helping us deliver our objectives. We are appreciative of the commitment and expectations for the years ahead, are only positive.

The members of the board of Trustees of the Charity are:

Ms Andrea Cupidore Ms Claudette Wilson (Treasurer) Mr Anthony Hylton Mrs Charmaine John-Walden (Secretary) Mr Stephen Hall Mr Colin Dash Elisha Holborough (Chariman)

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE PEOPLE’S CHRISTIAN FELLOWSHIP

I report on the accounts of the charity for the year ended 31[st] December 2021, which are set out on pages 11 to 20.

Responsibilities and basis of report

The Charity's Trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act). The Charity's Trustees consider that an audit is not required for this year under Section 144(2) of the Act and that an independent examination is needed.

I report in respect of my examination of the charity's accounts on pages 11 to 20 carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

The Charity is preparing accrued accounts and I am qualified to undertake the examination by being a qualified ACA.

Independent examiners' statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

(1) the accounting records were not kept in accordance with section 130 of the Charities Act; or

(2) the accounts did not accord with the accounting records; or

(3) the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

There are no material uncertainties about the charity’s ability to continue as a going concern.

Simon Poli ACA MEng ICAEW

Smithfield Accountants LLP Suite 1, The Old Farmhouse Stansted Courtyard, Parsonage Road Takeley, CM22 6PU Chartered Accountants and Registered Auditors

Date: 09/11/222

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2021

INCOME FROM
Donations (Note 3)
Investment Income (Note 4)
Activities for Generating Funds
Other Incoming Funds
Total Incoming Resources
EXPENDITURE ON
Charitable Activities (Notes 6 and 7)
Management & Administration of the Charity
Total Resources Expended
NET INCOME/ (EXPENDITURE) FOR THE YEAR
TRANSFERS BETWEEN FUNDS
OTHER RECOGNISED
Revaluation of Freehold Land & Buildings (Note 10a)
NET MOVEMENT IN FUNDS
Total Funds Brought Forward at 1.1.2021
Total Funds Carried Forward at 31.12.2021 (Note 10b)		 Unrestricted
Unrestricted
Funds
Restricted
Funds
Capital
Funds
Total Funds
Prior Period
Total Funds
£
£
£
£
£
184,830
7,500
-
192,330
178,405
30
-
-
30
458
-
5,204
-
5,204
7,749
10,507
40,195
-
50,702
37,132
195,367
52,899
-
248,266
223,744
144,207
49,550
-
193,757
140,430
50,628
3,349
-
53,977
36,165
194,835
52,899
-
247,734
176,595
532
-
-
532
47,149
(532)
-
532
-
-
-
-
532
532
47,149
-
-
915,327
915,327
(21,440)
-
-
915,859
915,859
25,709
274,766
27,434
1,787,099
2,089,299
2,063,590
274,766
27,434
2,702,958
3,005,158
2,089,299
274,766
27,434
2,702,958
3,005,158
2,089,299

The net movement in funds referred to above is the net incoming resources as defined in the statement of Recommended Practice for Accounting and Reporting by the Charity Commissioners for England and Wales and is reconciled to the total funds as shown in the Balance Sheet on page 13 as required by the said Statement.

All activities derive from continuing operations.

The notes on pages 14 to 20 form an integral part of these accounts.

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES FOR THE YEAR ENDED 31[ST] DECEMBER 2021

Excess / (Deficit) of Income over Expenditure before
Realisation of Assets
Revaluation of Freehold Land & Property
£
There were no recognised gains or losses for the year or the prior year that are not included above.		 2021
£532
£
915,327		 2020
47,149		 2020
£ -

None of the Charity’s activities were acquired or discontinued in the above two years.

The notes on pages 12 to 20 form an integral part of these accounts.

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

BALANCE SHEET AS AT 31[ST] DECEMBER 2021

Fixed Assets
Tangible Assets (Note 10a)
Current Assets
Stock
Debtors (Note 12)
Cash at Bank and In Hand
Creditors:Amounts falling due within
one year (Note 13)
Net Current Assets
Creditors:Amounts falling due after
more than one year
Net Assets
Capital and Reserves
Unrestricted and Restricted General Fund (Note 10b)
Unrestricted Capital Fund (Note 10b)
Accumulated Funds		 2021
666
1,706
227,649
230,021
10,225
£
£		 2,785,362
219,796
3,005,158
-
3,005,158
302,200
2,702,958
3,005,158		 2020
666
-
269,249
269,915
15,078
£
£		 1,834,462
254,837
2,089,299
-
2,089,299

302,200
1,787,099
2,089,299

The Board of Trustees are satisfied that the organisation is not required to have an audit of the organisation by virtue of its level of turnover and by virtue of any requirement under its constitution or otherwise.

The Board of Trustees also acknowledge their responsibility for ensuring the organisation keeps proper accounting records in accordance with the requirements of the Charities Act 2011 as more fully set out under ‘Trustees’ responsibilities’ in the report of the Trustees.

Mr Elisha Holborough Chairman

Approved for signature by Management Committee on 09/11/22

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021

1. ACCOUNTING POLICIES

a) Accounts Preparation

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 UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Report) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued 16 July 2014 rather than the Accounting and Reporting By Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The People’s Christian Fellowship meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The organisation has taken advantage of the exemption in financial reporting standard no.1 from the requirement to produce a cash flow statement.

The charity is entirely dependent on continuing donations and offerings as a consequence of the going concern.

The particular accounting policies adopted are set out below.

b) Accounting convention

The financial statements are prepared on a going concern basis under the historical cost convention as modified by the revaluation of the freehold land and buildings and fixed asset investments.

c) Incoming resources

Incoming resources are accounted for on a receivable basis deferred where appropriate. Rental income is included in the Income and Expenditure Account net of collection charges on a receivable basis.

d) Investment Income

Bank interest is included in the Income and Expenditure Account on a receivable basis. The interest arises from bank accounts in the UK.

e) Recognition of Liabilities

Liabilities are recognised on the accruals basis in accordance with normal accounting principles modified where necessary in accordance with the guidance given in the Statement of Recommended Practice for Accounting and reporting issued by the Charity Commissioners for England and Wales.

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021

f) Charitable Expenditure

Charitable expenditure includes all expenditure directly related to the objects of the charity and comprises the following:-

Management and Administration - costs represent expenditure incurred in the management of the charity’s assets, organisational and administration and compliance with charitable and statutory requirements.

g) Allocation of costs within types of Resources Expended

The charity’s operating costs are allocated between types of resources expended on the basis of estimates made by the Trustees.

Administration expenditure includes all expenditure not directly related to direct charitable activity. In respect of certain items of expenditure it is a matter of ement as to whether such items are direct charitable expenditure or are administrative and the Trustees have applied what they consider to be reasonable judgements in apportioning such costs.

h) Fund Accounting – details the funds and purpose of each fund:

Capital Account – this represents the original capital of the Charity and accumulated growth. There are no restrictions to its use, and the Trustees try to maintain this at a level which will generate sufficient income to cover annual expenditure. Income Account – this represents accumulated income over the year, less annual expenditure. The fund is primarily used to meet the annual expenditure and generate further income.

i) Fixed Assets and Depreciation

Property Numbers 89 and 91 were valued by Leo Horsfield Surveyors, a frim of Chartered Surveyors and RICS Registered Valuers.

Other tangible fixed assets are stated at cost less depreciation.

Depreciation has been provided at the following rates in order to write off the assets (less their expected residual value) over their estimates useful economic lives.

A regular annual review of the likelihood of asset impairment is undertaken

Equipment and Plant 25% Straight Line Motor Vehicles 25% Straight Line

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE ACCOUNTS (cont’d) FOR THE YEAR ENDED 31[ST] DECEMBER 2021

j) Stock Valuation

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

k) Taxation

As a registered charity, the organisation is exempt from Income and Corporation Tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the organisation and is therefore included in the relevant costs in the Statement of Financial Activities.

2. WINDING UP OR DISSOLUTION OF THE CHARITY

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar object to the charity.

3. NET INCOMING RESOURCES BEFORE TRANSFERS

This is stated after crediting:
Offerings & Donations
£
and after charging:
Depreciation of Owned Fixed Assets
Independent Examiner’s Fees
4.
INVESTMENT INCOME
Interest Receivable
5.
COST OF INDEPENDENT EXAMINER AND
OTHER ACCOUNTING SERVICES
Independent Examiner
6.
EXPENDITURE ON CHARITABLE ACTIVITIES 2021
Activities
Undertaken
Directly
Activities
Hosted by the
Charity
£
£
Donations
13,423
-
Events and Activities (Note 9)
-
6,332
General Expenditure and Hospitality
-
2,324
13,423
8,656		 This is stated after crediting:
Offerings & Donations
£
and after charging:
Depreciation of Owned Fixed Assets
Independent Examiner’s Fees
4.
INVESTMENT INCOME
Interest Receivable
5.
COST OF INDEPENDENT EXAMINER AND
OTHER ACCOUNTING SERVICES
Independent Examiner
6.
EXPENDITURE ON CHARITABLE ACTIVITIES 2021
Activities
Undertaken
Directly
Activities
Hosted by the
Charity
£
£
Donations
13,423
-
Events and Activities (Note 9)
-
6,332
General Expenditure and Hospitality
-
2,324
13,423
8,656		 This is stated after crediting:
Offerings & Donations
£
and after charging:
Depreciation of Owned Fixed Assets
Independent Examiner’s Fees
4.
INVESTMENT INCOME
Interest Receivable
5.
COST OF INDEPENDENT EXAMINER AND
OTHER ACCOUNTING SERVICES
Independent Examiner
6.
EXPENDITURE ON CHARITABLE ACTIVITIES 2021
Activities
Undertaken
Directly
Activities
Hosted by the
Charity
£
£
Donations
13,423
-
Events and Activities (Note 9)
-
6,332
General Expenditure and Hospitality
-
2,324
13,423
8,656		 This is stated after crediting:
Offerings & Donations
£
and after charging:
Depreciation of Owned Fixed Assets
Independent Examiner’s Fees
4.
INVESTMENT INCOME
Interest Receivable
5.
COST OF INDEPENDENT EXAMINER AND
OTHER ACCOUNTING SERVICES
Independent Examiner
6.
EXPENDITURE ON CHARITABLE ACTIVITIES 2021
Activities
Undertaken
Directly
Activities
Hosted by the
Charity
£
£
Donations
13,423
-
Events and Activities (Note 9)
-
6,332
General Expenditure and Hospitality
-
2,324
13,423
8,656		 2021
2020
192,330
£ 178,405
6,265
13,423
3,240
3,120
£ 9,505
£ 16,543
£ 30
£ 458
£ 3,240
£ 3,120
Support
Costs
(Note 8)
Total
£
£
104,372
117,795
49,235
55,567
18,071
20,395		 2021
2020
192,330
£ 178,405
6,265
13,423
3,240
3,120
£ 9,505
£ 16,543
£ 30
£ 458
£ 3,240
£ 3,120
Support
Costs
(Note 8)
Total
£
£
104,372
117,795
49,235
55,567
18,071
20,395

£
£
13,423 8,656 171,678
193,757

There was one grant of £1,870 to another charity during the year, which is included within ‘Donations’.

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE ACCOUNTS (cont’d) FOR THE YEAR ENDED 31[ST] DECEMBER 2021

7. EXPENDITURE ON CHARITABLE ACTIVITIES 2020

Donations
Events and Activities (Note 9)
General Hospitality		 Activities
Undertaken
Directly
£
17,267
-
-		 Activities
Undertaken
Directly
£
17,267
-
-		 Activities
Hosted by
the Charity
Support
Costs
Total
£
£
£
-
55,478
72,745
2,568
8,251
10,819
13,498
43,368
56,866
17,267 16,066
107,097
140,430

8. ANALYSIS OF SUPPORT COSTS

Employee Costs
Entertainers
Catering
Other
Total Support Costs		 2021
2020
£
£
170,316
106,343
90
-
672
600
-
754
171,678
107,097

9. EVENTS AND ACTIVITIES

Events
Training
Music
Food Bank
Other Costs
Total Costs on Furthering Charity Aims		 2021
2020
£
£
-
250
296
390
1,121
1,581
2,346
-
2,569
347
6,332
2,568

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE ACCOUNTS (cont’d) FOR THE YEAR ENDED 31[ST] DECEMBER 2021

10a. TANGIBLE FUNCTIONAL FIXED ASSETS

Cost or Valuation
At 1st January 2021
Additions
Revaluation
At 31st December 2021
Depreciation
At 1st January 2021
Charge for the Year
At 31st December 2021
Net Book Value
At 31st December 2021
At 31st December 2020
All assets are used for direct charitable purposes and
The original cost of the Land & Buildings is £951,937.
RESERVES
Balance at 1.1.2021
Revaluation Reserve
Surplus for the Year
Accumulated Funds
Transfer to Capital Account
Transfer to Income Account
Capital Account
Income Account
Total Reserves at 31.12.2021		 Motor
Freehold
Land &
Plant &
Vehicles
Buildings
Equipment
£
£
£		 Total
£
21,377
1,825,000
163,806
34,073
17,165		 2,010,183
51,558
21,377
1,859,073
180,971		 2,061,421
21,376
-
154,345
-
-
6,265		 175,721
6,265
21,376
-
160,610		 181,986
1
1,859,073
20,361		 1,879,435
1
1,825,000
9,461		 1,834,462
there are no inalienable or historic assets.

2021
2,089,299
915,327
532
3,005,158
-
-
£ -
£
2,702,958
302,200
£ 3,005,158
£		 2020
2,063,590
(21,440)
47,149
2,089,299
-
-
-
1,787,099
302,200
2,089,299

The original cost of the Land & Buildings is £951,937.

10b. RESERVES

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE ACCOUNTS (cont’d) FOR THE YEAR ENDED 31[ST] DECEMBER 2021

11. ANALYSIS OF ASSETS AND LIABILITIES REPRESENTING EACH OF THE CHARITY’S FUNDS

At 31st December 2021
Fixed Assets
Current Assets
Current Liabilities
At 1st January 2021
Fixed Assets
Current Assets
Current Liabilities		 Unrestricted
Restricted
Total
Funds
Funds
Funds
£
£
£
2,785,362
-
2,785,362
172,347
57,674
230,021
(10,225)
-
(10,225)
2,947,484
57,674
3,005,158
1,834,462)
-
1,834,462)
212,241)
57,674
269,915)
(15,078)
-
(15,078)
2,031,625)
57,674
2,089,299

The restricted funds can only be used against expenditure for which it has been awarded, as agreed with the donor. Unspent funds are to be returned to donors.

12. DEBTORS

13.
14.		 2021
Prepayments & Other Debtors
-
PAYE/NIC
-
Gift Aid claimable
1,706
£1,706
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
Independent Examiner
Trade Creditors
3,240
942
Accrued Expenses
6,043
£ 10,225
£
STAFF
Gross Wages & Salaries
152,561
Employer’s NI
12,378
The average number of staff is:
6		 2020
-
-
-
£ -
3,120
972
10,986
15,078
94,831
7,282
6

No employees received employee benefits, excluding employer pension costs, of more than £60,000.

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THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE ACCOUNTS (cont’d) FOR THE YEAR ENDED 31[ST] DECEMBER 2021

15. TRUSTEES REMUNERATION AND EXPENSES

The Trustees are not remunerated and are not reimbursed for any expenses apart from C J Walden (see note 16).

16. PRESENTATION CURRENCY

The accounts are presented in British Pounds Sterling.

17. OTHER INFORMATION

The People’s Christian Fellowship is a charity registered in England and Wales. Its registered office and principal place of business are:

89 Broad Lane Tottenham London N15 4DW

18. RELATED PARTY TRANSACTIONS

C Walden: Salary £14,207, Pension Contributions £290 (2020 - Salary £12,010, Pension Contributions £279,) Trustee

C J Walden Spouse of trustee Salary £4,260, Pension Contributions £Nil (2020 – Salary £3,120, Pension Contributions £Nil). This payment was made with authority obtained from the Charity Commission and relates to work done for the charity’s foodbank.

D Daniel

Pastor

Salary, Pension Contributions £32,026, Pension Contributions £717 (2020 - Salary £34,938, Pension Contributions £1,801)

C Daniel: Salary £20,000, Pension Contributions £444 (2020 - Salary £24,000, Pension Contributions £1,094) Direct relation of pastor

J Daniel: Salary £12,500, Pension Contributions £Nil (2020 – Salary £15,000, Pension Contributions £146) Direct relation of pastor

All salaries are paid at arm’s length according to market norms and the services provided. These are kept under review by the other trustees.

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