OpenCharities

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

2022-12-31-accounts

THE PEOPLE’S CHRISTIAN FELLOWSHIP Registered Charity No: 1031255

BALANCE SHEET & ACCOUNTS

FOR THE YEAR ENDED 31[ST ] DECEMBER 2022

I OWARISH & CO -ACCOUNTANTS LIMITED DEVON HOUSE 65 CHURCH HILL WINCHMORE HILL LONDON N21 1LE

THE PEOPLE’S CHRISTIAN FELLOWSHIP

REPORT AND ACCOUNTS

CONTENTS

FOR THE YEAR ENDED 31 December 2022

REFERENCE AND ADMINISTRATIVE INFORMATION ........................................................................ 2 TRUSTEES' REPORT ............................................................................................................................ 3 INDEPENDENT EXAMINER'S REPORT ............................................................................................. 12 STATEMENT OF FINANCIAL ACTIVITIES .......................................................................................... 13 BALANCE SHEET ................................................................................................................................ 15 NOTES TO THE FINANCIAL STATEMENTS ....................................................................................... 17

1

THE PEOPLE’S CHRISTIAN FELLOWSHIP

LEGAL AND ADMINISTRATIVE INFORMATION

Chairman Colin Dash Secretary Charmain John-Walden Treasurer Ely Holboeough Reporting Accountants I Owarish & Co - Accountants Limited Devon House 65 Church Hill Winchmore Hill London N21 1LE Registered Charity Number 1031255

2

THE PEOPLE’S CHRISTIAN FELLOWSHIP

TRUSTEES’ REPORT FOR THE YEAR ENDED 31[ST ] DECEMBER 2022

The Trustees’ present their report and accounts for the year ended 31[st ] December 2022.

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 deficit of £35,970 before gains/(losses) after making charitable expenditure of £177,149. That deficit has been deducted from the Accumulation Income from previous years.

At the year end, the charity had reserves of £2,969,189, of which £2,690,767 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

3

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.

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 shortterm 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 2022 and the open market value at that date is shown in the accounts.

4

THE PEOPLE’S CHRISTIAN FELLOWSHIP 2022 TRUSTEES REPORT

Community engagement

Cycling Project

In 2022, PCF successfully implemented a cycling initiative funded by the Active Travel Community Grants Scheme, a part of the Smarter Travel Haringey initiative funded by Haringey Council. This project focused on promoting behaviour change, encouraging residents, commuters, and visitors to adopt sustainable travel practices and embrace healthier lifestyles. The key objectives were to facilitate regular cycling among participants and eliminate barriers like access to bicycles and safety equipment.

The PCF Saturday Cycle project was delivered over the summer period for a duration of 10 weeks. The leaflet, poster, notification, and webpage advertising attracted 31 registered participants, ranging in age, sex, race, and ability. The Saturday cycle provision was split into two groups categorized by ability. The newbies and less confident riders engaged in a facilitated ride under the supervision of a Level 3 instructor in a local park. The more seasoned riders participated in a safety workshop before heading out as a group on a road ride.

  1. Beginner's Group : Novice and less confident riders enjoyed guided rides in a local park led by a Level 3 cycle instructor, providing a supportive environment for skill development.

  2. Advanced Group : More experienced cyclists embarked on road rides each Saturday morning, preceded by a safety briefing from the Level 3 instructor.

The project achieved several significant outcomes:

Feedback from project evaluation forms highlighted the positive impact:

Participants Liked: The supportive and caring group atmosphere. The camaraderie and assistance from fellow participants. The invaluable help with cycling basics. The friendly and approachable instructor.

Changes in Cycling Habits/Regimen:

One participant's daughter learned to ride confidently. Participants reported heightened awareness about cycling and its benefits.

5

The project not only promoted sustainable travel but also fostered a sense of community and skill development among participants. It showcased the effectiveness of removing barriers to cycling and encouraging healthier lifestyles.

PCF Food Bank Report 2022

The PCF Food Bank, under the management of Charmaine Walden and Natalie Clark until her departure in mid-2022, continued its vital service to our community. We extend our gratitude to Natalie for her unwavering work ethic and innovative contributions.

Client Diversity

Our food bank serves a diverse clientele, reflecting the rich tapestry of our community, including Turkish, Caribbean, Polish, and more. Throughout the year, the number of users varied between 80 and 100 individuals, including those who received deliveries.

Dedicated Volunteers

Our dedicated volunteers played a crucial role in the food bank's operation:

Tuesdays: We had a consistent team of four to five PCF volunteers.

Wednesdays: A team of 15 individuals, comprising both PCF members and community volunteers, with an average of 8 volunteers on-site each week.

Drivers: We were fortunate to have 12 drivers, including four women, some of whom contributed on a weekly or bi-weekly basis. Our driver team consisted of both PCF and community members.

Sourcing Food

Our food bank relies on generous donations, as government funding was discontinued. We secured produce through the support of the People's Christian Fellowship, with additional assistance from organizations such as the Felix Project, Fareshare, Redbridge Food Bank , the McCalla family, and various financial donors within PCF .

Grants

Haringey Council awarded PCF a grant of £1,500, which translated to 100 vouchers valued at £15 each. These vouchers were distributed to families attending the food bank over a three-week period, providing essential support to those in need.

Christmas Initiative

During the holiday season, our food bank leaders collaborated with several PCF members to ensure that food bank users received an abundance of food, toiletries, clothing, toys, and luxury items, allowing them to enjoy a special Christmas with their loved ones.

Future Endeavours

Looking ahead, our primary goal is to raise funds for community initiatives, continuing our commitment to serving and supporting those who depend on the PCF Food Bank.

We are deeply thankful for the unwavering dedication of our volunteers and the generosity of our supporters, without whom our food bank's mission would not be possible. Together, we are making a meaningful difference in the lives of individuals and families within our community.

PCF Department report

Events Team - Community and Mission

Throughout the year, the Events Team remained steadfast in their mission to promote the gospel and foster community engagement through event coordination. They also seized the chance to bolster financial support for the church through their initiatives. However, the shift to online services in late 2021 due to the COVID-19 pandemic presented challenges that impacted the team's event planning capabilities in 2022. Nonetheless, amidst these challenges, here are the noteworthy accomplishments:

6

Achievements & Challenges:

These events were accomplished through God’s grace and effective teamwork. Their main challenge was the reduced number of team members, but they successfully collaborated with other PCF departments and external organizations to overcome this obstacle.

2023 Goals

The team aims to achieve its purpose and goals through the planning and execution of seven events, including a PCF Church Open Day, Gospel Karaoke Evening, Coach Trip to Clacton-on-Sea, Sponsored Health Walk, PCF Annual Convention, Nativity Play, and planning for a Pilgrimage trip to the Holy Land in 2024.

Kingdom Women

The People's Christian Fellowship Women's Ministry, known as Kingdom Women (KW), is aimed at enhancing women's relationships with God. Their objective is to help women unlock their purpose, potential, and passion. KW continued to thrive in 2022 despite the challenges posed by the pandemic.

Summary of 2022 Events

Achievements:

The pandemic created challenges, but KW successfully adapted by using platforms like Zoom and gradually encouraging in-person fellowship.

When the KW look back on 2022, most would agree that one of the most outstanding achievements was the ability to re-establish and maintain strong connections among their members.

2023 Goals:

7

Men’s Ministry

In 2022, the Men's Ministry underwent a transition in leadership as Brother Walden, who had provided successful leadership for several years, stepped down to assume a leadership role within our 'New Church.' We warmly welcomed Brother Daniel as the new Men’s leader, Brother Daniel brought enthusiasm, energy and optimism. He also had the support of the dedicated men's department.

Throughout the year, the Men's Ministry remained committed to their spiritual growth and engagement. They actively participated in weekly Bible studies that were both stimulating and conducive to deepening their understanding of the Scriptures and enhancing their ability to share its teachings effectively.

The ministry also organized a memorable Men's Breakfast session and a special Men's Christmas Dinner, hosted at one of our pastor's homes. This event turned into an unexpectedly enjoyable overnight gathering due to unforeseen weather changes, strengthening the bonds of fellowship among the men.

2023 Goals:

Increased variety of events for men. Enlarge the involvement in Bible study. Play a leading role in providing security for church services. Explore outdoor activities and more Men’s Breakfast events.

Youth Department

PCF's Youth Department had a vision to involve young people in the church's ministries in 2022. They focused on evangelism, fellowship, discipleship, ministry, and worship, as reflected in their purpose statement.

Highlights of 2022

The department actively participated in church events like Easter celebrations, conventions, and Christmas services. They also conducted regular Fused Fridays, Sunday school classes, and the annual Summer Vacation Bible School (VBS).

Easter Workshop Highlights

In 2022, they organized insightful workshops that explored the gospel's relevance to Easter and celebrated the UK's gospel music heritage. Influential music industry figures shared their wisdom, leaving a lasting impact on our youth. They creatively applied this knowledge to craft a meaningful segment for our Good Friday service, fostering a deeper connection to Easter's message.

Convention & Youth Engagements

During the annual convention, the youth leaders organized workshops that aligned with the church's spiritual objective, encouraging youth to express their insights creatively. Together, they composed a memorable poem and used multimedia for their presentation.

Christmas & Sunday School

The Sunday school children regularly shared their learnings with the church during Sunday services, fostering joy and pride among the congregation. This platform was also used to convey their understanding of the Christmas season.

Fused Fridays and Youth Ethics

Senior members consistently attended Fused Friday sessions, which were part of the youth club framework. These sessions, also known as 'Debate the State,' delved into the social landscape where our youth are maturing. They explored ethical topics and emphasized the Bible's foundational role. Our youth actively invited peers, and this outreach resulted in a substantial number of participants not connected to the wider church, a testament to the environment our youth have created.

8

Sunday School Revival

Our Sunday school initially faced challenges with attendance post-lockdown, but we observed a significant rise in 2022. We concentrated on enhancing biblical literacy, ensuring that our young members are wellprepared to contribute to PCF's future. They remained actively involved in our VBS club, enjoying the Lifeways Bright Sparks curriculum, and receiving strong support from parents.

Spring into Action (SIA) Bulletin

SIA is our monthly bulletin featuring encouragement, event notices, birthdays, anniversaries, and a Biblical quiz. In 2022, SIA's notable shift was towards online accessibility, thanks to our IT expert. This transition expanded its reach significantly beyond printed copies.

SIA's Mission Focus

SIA remains committed to strengthening the Body of Christ within PCF. It is distributed through various channels:

2023 and Beyond

Departments are encouraged to share their activity information and notices at sia@tpcf.org.uk to inform members about available activities. SIA serves as a valuable tool for prayer requests and continues to reach as many people as possible with Spirit-filled content, enriching lives.

Praise & Worship Department Report 2022

The Praise and Worship Department is a busy department and lead Sunday services all year round, as well as the additional services around Easter, convention and the Christmas/New Year period.

We are grateful for the admin support provided by Tula Lynch and supported by Sharone Benjamin in communicating with the team to make sure things run smoothly and effortlessly.

As well as this, the team are regularly required to provide singers/band members for additional services such as funerals, baptismal services where additional support, apart from the standard provision, is requested. The team provided support at the end of the year to the community carol service called ‘Christmas on the Lane’.

The team continue to work tirelessly to fill in gaps in the numbers, which can be due to members taking much needed holidays, working in other departments or commitments outside of church.

One of the departments longstanding members, Marsha Shodiya, graduated to leading corporate worship at the New Church. We are grateful for her years of faithful ministry to the department. She now pursues her ministry in being one of the founder members in growing the New Church.

The team have continued to serve faithfully this year, and continues to being a highlight of the People’s Christian Fellowship Church.

New Church Plant Report 2022

In June 2022, we embarked on a significant endeavour by planting a new church under the umbrella of the Peoples Christian Fellowship. Our mission revolves around proactive evangelism, and we believe that having more churches in an area increases opportunities to share the gospel.

Our primary focus is on following the final instructions of Jesus to His disciples (Luke 24:45-48; Mark 16:1418; Matt 28:18-20; Acts 1:8). We've commissioned six dedicated members to lead this new church, temporarily named 'New Church.' And since the inauguration of this church fellowship, we have commissioned additional members.

Church Services follow a structured format: 20 minutes of praise and worship, 20 minutes for the sermon, and 20 minutes of fellowship for reflection and discussion, accompanied by refreshments. The discussions are so engaging that the time is often extend. The church celebrates the Eucharist and hosts prayer meetings and bible studies.

9

Currently, New Church operates within Springfield Hall in the afternoon and host’ an average attendance of 20 persons. We anticipate numerical growth and aim to secure a dedicated place of worship in 2023. Members actively engage in pre-service evangelism. This church plant truly embodies our commitment to spreading the gospel.

We are excited about the promising future of the 'New Church' and remain fully committed to supporting their mission and witnessing the expansion of God's Kingdom through this dynamic addition to the PCF family.

PCF STATISTICS

Child Dedications 6
Funerals 10
Weddings 1
New Members 0
Baptisms 4
Ordination/Commission 6

SUMMARY

In the face of pandemic-related challenges throughout 2022, The People's Christian Fellowship (PCF) maintained its steadfast commitment to strengthening the faith of our members and connecting with and serving the local community. Despite obstacles, we successfully organized meaningful events, nurtured strong relationships, and fostered insightful learning dialogues. Although it feels like we have been going through a phase of rebuilding, our dedicated department leaders continue to enrich our members and position PCF as a cherished place of spiritual growth and worship.

The introduction of our exciting New Church ministry aligns perfectly with our primary mission: ‘Spreading the gospel.’ With each passing year, our resolve to promote good health practices and keep our church members informed about the evolving dynamics of our society and the world has grown stronger.

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

Mr Colin Dash (Chairman) Mr Anthony Hylton Mr Ely Holborough (Treasurer) Mr Stephen Hall Ms Charmaine John-Walden

10

THE PEOPLE’S CHRISTIAN FELLOWSHIP

TRUSTEES’ REPORT (cont’d) FOR THE YEAR ENDED 31[st] DECEMBER 2022

Statement of Trustees Responsibilities

Law applicable to charities in England and Wales requires the Board of trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the financial year in preparing those financial statements giving true and fair view, the Board of trustees should follow best practice and: -

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and enable them to ensure that the financial statements comply with the Charites Act 2011, The Charity (Accounts and Reports) Regulations 2008, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions,

The Board of Trustees approved this report on 12[th] October 2023

Signed by

Mr. Colin Dash Chairman

11

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 2022, 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 13 to 23 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 Public Accountant of the AFA and licensed member of the AAT and authorised to prepare 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

Ishmael Owarish FMAAT AFA FAIA I Owarish & Co - Accountants Limited Devon House 65 Church Hill Winchmore Hill London N21 1LE

Financial Accountants and Registered Independent Examiners

Date: 12/10/2023

12

THE PEOPLE’S CHRISTIAN FELLOWSHIP

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST ] DECEMBER 2022

Restricted
Recommended
categories by activity		 Notes Unrestricted
funds		 income
funds		 Endowment
funds		 Total Funds
2022		 Total Funds
2021
£ £ £ £ £
Incoming resources
Donations and
legacies		 2 175,873 8,952 - 184,824 192,330
Charitable activities 3 2,599 - - 2,599 5,204
Investments 4 14,400 - - 14,400 30
Other 5 - - - - 50,702
Total 192,872 8,952 - 201,824 248,266
Resources
expended
Expenditure on:
Raising funds 6 59,408 - - 59,408 -
Charitable activities 7 164,934 12,215 - 177,149 193,757
Other 8 1,237 - - 1,237 53,977
Total 225,579 12,215 - 237,794 247,734
Net
income/(expenditure
) before investment		 (32,707) (3,263) - (35,970) 532
gains/(losses)
Net
income/(expenditure (32,707) (3,263) - (35.970) 532
)
Other recognised
gains/(losses):
Gains and losses on
revaluation of fixed - - - 915,327
assets
Net movement in
funds		 (32,707) (3,263) - (35,970) 915,859
Reconciliation of
funds:
Total funds brought
forward at 1.1.2022		 2,999,600 5,558 - 3,005,158 2,089,299
Total funds carried
forward at 2,966,893 2,295 - 2,969,188 3,005,158
31.12.2022

13

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 15 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.

THE PEOPLE’S CHRISTIAN FELLOWSHIP

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES FOR THE YEAR ENDED 31[ST ] DECEMBER 2022 2022 2021 Excess / (Deficit) of Income over Expenditure before Realisation of Assets (£35.970) £532

Revaluation of Freehold Land & Property

There were no recognised gains or losses for the year or the prior year that are not included above. 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.

14

THE PEOPLE’S CHRISTIAN FELLOWSHIP

BALANCE SHEET AS AT 31[ST ] DECEMBER 2022

Recommended Unrestricted Restricted Endowment Total Funds Total
categories by Notes funds income funds funds 2022 Funds 2021
activity £ £ £ £ £
Fixed assets
Tangible assets 9 2,780,940 - - 2,780,940 2,785,362
Total fixed assets 2,780,940 - - 2,780,940 2,785,362
Current assets
Stock - - - - 666
Debtors 10 1,706 - - 1,706 1,706
Cash at bank and
in hand		 196,647 - - 196,647 227,649
Total current
assets		 198,353 - - 198,353 230,021
Creditors:
amounts falling
due within one		 11 - 10,225
year
Bank (1,272) (1,272)
Trade Creditors (3,358) (3,358)
Accrued Expenses (5,474) (5,474)
Total current
Liabilities		 (10,104) (10,104)
Net current
assets/(liabilities)		 188,249 - - 188,249 219,796
Total assets less
current liabilities		 2,969,189 - - 2,969,189 3,005,158
Total net assets
or liabilities		 2,969,189 - - 2,969,189 3,005,158
Capital Reserve
Capital Account 1,285,000
Retained Earnings 314,392
Revaluation
Reserve		 1,405,767
Total 3,005,159
Less losses in
year		 (35,970)
Total funds 2,969,189 - - 2,969,189 3,005,158

15

Reconciliation
Unrestricted General 272,864
Restricted General 5,558
Unrestricted Capital Fund. 2,690,767
Total funds
 2,969,189

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.

The financial statements were approved for signature by the Board oof Trustees on 12-Oct-2023 and signed on its behalf by:

Mr. Colin Dash Chairman

16

THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE FINANCIAL ACCOUNTS st FOR THE YEAR ENDED 31 DECEMBER 2022

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 andReporting 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

17

THE PEOPLE’S CHRISTIAN FELLOWSHIP

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST ] DECEMBER 2022

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 judgement 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 firm 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 estimate’s 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

18

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:

3 Donation and Legacies

Analysis Unrestricted
funds		 Restricted
income
funds		 Endowment
funds		 Total funds
2022		 Total funds
2021
£ £ £ £ £ £
Donation and
gifts		 184,825 - - 184.825 192,330
Total 184,825 - - 184,825 192,330

4 Income from Charitable Activities

Analysis Unrestricted
funds		 Restricted
income
funds		 Endowment
funds		 Total funds
2022		 Total funds
2021
£ £ £ £ £ £
Sales income 2,599 - - 2,599 5,204
Total 2,599 - - 2,599 5,204

19

5 Income from Investments

Analysis Unrestricted
funds		 Restricted
income
funds		 Endowment
funds		 Total funds
2022		 Total funds
2021
£ £ £ £ £ £
Interest income 52 - - 52 30
Rental and leasing
income		 14,400 - - 14,400 -
Total 14,452 - - 14,452 30

6 Other Income

Analysis Unrestricted
funds		 Restricted
income
funds		 Endowment
funds		 Total funds
2022		 Total funds
2021
£ £ £ £ £ £
Other - 50,702
Total - - 50,702

7 Expenditure on Raising Funds

Analysis Total funds 2022 Total funds 2021
£ £ £
Support Costs 84,348 -
Total -

8 Expenditure on Charitable Activities

Analysis Total funds 2022 Total funds 2021
£ £ £
Charity management
& administration		 40,681 55,567
Charity running cost 16,453 20,395
Cost of services 666 -
Donations 25,757 117,795
Printing and
stationery		 2,571 -
Bank charges 962 -

20

Support Costs 88,280 Total 175,370

193,757

9 Support Costs

Analysis Total funds 2022 Total funds 2021
£ £ £
Wages and salaries 151,418 170,316
Governance Costs
Independent examiners fees 3,240 3,240
Accountants fees 691 -
Total 155,349 173,556

10 Other Expenditure

Analysis Unrestricted
funds		 Restricted
income
funds		 Endowment
funds		 Total funds
2022		 Total funds
2021
£ £ £ £ £ £
Other Expenditure 250 - - 250 47,712
Depreciation of Owned
Fixed Assets		 7,502 - - 7,502 6,265
Total 7,752 - - 7,752 53,977

11 Tangible Fixed Assets 10.a Cost or valuation

At 01 January
2022
Additions
Disposals
Revaluations
At 31 December
2022		 Freehold Land &
Buildings
Plant &
Machinery
Motor Vehicles
Fixtures &
Fittings
£
£
£
£
2,765,000
174,007
21,377
10,043
-
-
-
-
-
-
-
-
-
-
-
-
2,765,000
174,007
21,377
10,043

21

12 Depreciation and impairments

At 01 January
2022
Additions
Disposals
At 31 December
2022		 Freehold Land &
Buildings
Plant &
Machinery
Motor Vehicles
Fixtures &
Fittings
£
£
£
£
-
163,509
21,376
4,602
-
-
-
-
-
-
-
-
-
163,509
21,376
4,602

13 Net book value

At 01 January
2022
At 31 December
2022		 Freehold Land &
Buildings
Plant &
Machinery
Motor Vehicles
Fixtures &
Fittings
£
£
£
£
2,765,000
10,498
1
5,441
2,765,000
10,498
1
5,441

14. Debtors: Amounts falling due within one year

Total funds 2022 Total funds 2021
£ £
Prepayments & accrued income 1,706 1,706
Total 1,706 1,706

15. Creditors: Amounts falling due within one year

Total funds 2022 Total funds 2021
£ £
Bank loans and overdrafts 1,272 -
Trade creditors 2,600 942
Accruals expenses 4,625 9283
Taxation and social security 28,702 -
Total 37,200 10,225

22

16. Staff

2022 2021 Gross Wages & Salaries £139.975 £152,561 Employer’s NI £. 11,443. £ 12,378

The average number of staff is: 5 (2022) 6 (2021)

17. Trustees Remuneration and Expenses

The Trustees are not remunerated and are not reimbursed for any expenses apart from C J Walden (see not 17 below)

18. Presentation Currency

The accounts are presented in British Pounds Sterling

19. Other Information

The People’s Christian Fellowship is a charity registered in England and Wales. Its registered Office and

Principal place of business is:

89 Broad Lane Tottenham London N15 4DW

20. Related Party Transactions

C Walden Salary £14,207, Pension Contributions £290 (2021 – Salary £14,207, Pension Contribution £290)

Trustee

C J Walden Spouse of Trustee

Salary £4,260. Pension Contributions (Nil) (2021 – Salary £4,260, Pension Contributions £Nil

D Daniel Pastor

Salary £20,000, Pension Contributions £444 (2021- Salary £20,000, Pension Contributions £444) Direct relation of pastor

J Daniel

Salary £12,500, Pension Contributions £Nil (2021 – Salary £12,500, Pension Contributions £Nil) Direct relation of pastor

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

23