**Charity number: 1050303**
## **Mount of Olives (Coleford)**
**Trustees' report and financial statements**
**for the year ended 31 December 2021**
## **Mount of Olives (Coleford)**
## **Contents**
||**Page**|
|---|---|
|Legal and administrative information|**1**|
|Trustees report|**2 - 3**|
|Independent examiners' report|**4**|
|Statement of financial activities|**5**|
|Income and expenditure account|**6**|
|Intentionally Blank|**7**|
|Balance sheet|**8**|
|Notes to the financial statements|**9 - 12**|
## **Mount of Olives (Coleford)**
## **Legal and administrative information**
|**Charity number**|1050303||
|---|---|---|
|**Business address**|The Crescent||
||Eastbourne Estate||
||Colefod||
||Gloucestershire||
||GL16 8BS||
||01594 837047||
||admin@mountofolives.church||
|**Trustees**|Paul Nicholls|13th April 2014|
||Stephen Rosser|24th March 2013|
||Terrance Mainwaring|19th April 2015|
||Phil Worthington||
|**Accountants**|Oversby & Company||
||Unit 1C||
||Crucible Close||
||Coleford||
||Gloucestershire||
||GL16 8RE||
|**Bankers**|HSBC||
||The Cross||
||Gloucester||
||Gloucestershire||
||GL1 2AP||
## **Mount of Olives (Coleford)**
## **Report of the trustees**
## **for the year ended 31 December 2021**
The trustees present their report and the financial statements for the year ended 31 December 2021. The trustees who served during the year and up to the date of this report are set out on page 1.
## **Structure, governance and management**
## _Governing Document_
Constitution and Trust Deed Adopted 28th May 2006, as amended on the 19th April 2015.
## _Objectives of the Charity_
THE OBJECTS OF THE CHURCH ("THE OBJECTS") ARE FOR THE BENEFIT OF THE PUBLIC: (A) TO ADVANCE THE CHRISTIAN FAITH IN ACCORDANCE WITH THE STATEMENT IN SUCH WAYS AND IN SUCH PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE CHURCH COUNCIL FROM TIME TO TIME MAY THINK FIT; (B) TO RELIEVE SICKNESS AND FINANCIAL HARDSHIP AND TO PROMOTE AND PRESERVE GOOD HEALTH BY THE PROVISION OF FUNDS, GOODS OR SERVICES OF ANY KIND INCLUDING THROUGH THE PROVISION OF COUNSELLING AND SUPPORT IN SUCH PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE CHURCH COUNCIL FROM TIME TO TIME THINK FIT; AND (C) TO ADVANCE EDUCATION IN SUCH WAYS AND IN SUCH PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE CHURCH COUNCIL FROM TIME TO TIME MAY THINK FIT.
## _How the Charity achieves its Objectives_
Sunday and weeknight services for all ages. Little Angels for carers and children up to 5 years old. Kids Church for primary school age during Sunday AM service; SLAM for children 4 years to Year 6; Ignite youth group for Year 7 to Year 11 pupils; JOY for the over 60's with meal and varried programme; Music Group and missions outreach GEM group for Ladies and BLOKES group for men.
## **Mount of Olives (Coleford)**
## **Report of the trustees for the year ended 31 December 2021**
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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 charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other
On behalf of the board
## **Secretary**
## **Mount of Olives (Coleford)**
## **Independent examiner's report to the trustees on the unaudited financial statements of Mount of Olives (Coleford).**
I report on the accounts of Mount of Olives (Coleford) for the year ended 31 December 2021 set out on pages 2 to 12.
## **Respective responsibilities of trustees and independent examiner**
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, as amended; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, as amended; and to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (i) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep proper accounting records in accordance with section 41 of the Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...........................................................
**Mr. Daniel John Oversby A.C.P.A. Independent examiner Unit 1C Crucible Close Coleford Gloucestershire GL16 8RE**
## **Mount of Olives (Coleford)**
## **Statement of financial activities**
## **For the year ended 31 December 2021**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Incoming resources**
Incoming resources from generating funds:
Voluntary income
2
71,556
-
Activities for generating funds
3
993
-
Investment income
4
67
-
Incoming resources from charitable activities
5
-
1,050
**Total incoming resources**
72,616
1,050
**Resources expended**
Establishment costs
47,565
-
Accountancy fees
1,110
-
Legal and professional fees
42,417
-
Other office expenses
3,947
-
Gifts & Missiions
6,659
721
**Total resources expended**
101,698
721
Total funds brought forward
119,836
-
**Total funds carried forward**
90,754
329|**2021**
**Total**
**£**
71,556
993
67
1,050
73,666
47,565
1,110
42,417
3,947
7,380
102,419
119,836
91,083|**2020**
**Total**
**£**
64,085
285
312
-|
|---|---|---|
|||64,682|
|||27,762
-
37,362
6,177
5,252|
|||76,553|
|||131,707|
|||119,836|
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
**The notes on pages 9 to 12 form an integral part of these financial statements.**
## **Mount of Olives (Coleford)**
## **Income and expenditure account**
## **For the year ended 31 December 2021**
|**Notes**
**Income**
Operating expenditure
**Operating deficit**
**Other income**
Interest receivable and similar income
**Retained deficit for the financial year**|**2021**
**£**
73,599
)
(102,419
)
(28,820
67
67
)
(28,753|**2020**
**£**
64,370
)
(76,553
)
(12,183
312
312
)
(11,871|
|---|---|---|
All activities derive from continuing operations.
**The notes on pages 9 to 12 form an integral part of these financial statements.**
## **Mount of Olives (Coleford)**
**The notes on pages 9 to 12 form an integral part of these financial statements.**
## **Mount of Olives (Coleford)**
## **Balance sheet**
## **as at 31 December 2021**
|**Notes**
**Fixed assets**
Tangible assets
7
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling**
**due within one year**
8
**Net current assets**
**Net assets**
**Funds**
9
Restricted income funds
Unrestricted income funds
**Total funds**|**2021**
**£**
**£**
31,701
59,881
59,881
)
(499
59,382
91,083
329
90,754
91,083|**2020**
**£**
**£**
31,700
89,136
89,136
)
(1,000
88,136
119,836
-
119,836
119,836|**2020**
**£**
**£**
31,700
89,136
89,136
)
(1,000
88,136
119,836
-
119,836
119,836|
|---|---|---|---|
||||119,836|
||||-
119,836|
||||119,836|
The financial statements were approved by the trustees on 14 May 2022 and signed on its behalf by
## **Paul Nicholls Trustee**
**The notes on pages 9 to 12 form an integral part of these financial statements.**
## **Mount of Olives (Coleford)**
## **Notes to financial statements for the year ended 31 December 2021**
## **1. Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
## **1.1. Basis of accounting**
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 1993.
## **1.2. Cashflow**
The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.
## **1.3. Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
## **1.4. Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
## **Mount of Olives (Coleford)**
## **Notes to financial statements for the year ended 31 December 2021**
## **1.5. Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Land and buildings Straight line over years - Fixtures, fittings and equipment 20% Straight Line -
## **2. Voluntary income**
|**Voluntary income**|||
|---|---|---|
|**Unrestricted**
**funds**
**£**
Offerings, Collections and Donations
59,117
Gifts
340
Tax Refunds
12,099
71,556|**2021**
**Total**
**£**
59,117
340
12,099
71,556|**2020**
**Total**
**£**
57,752
-
6,333|
|||64,085|
## **3. Activities for generating funds**
|**Activities for generating funds**|||
|---|---|---|
|**Unrestricted**
**funds**
**£**
Trips
973
Tuck Shop
-
Donations from Materials distributed
20
993|**2021**
**Total**
**£**
973
-
20
993|**2020**
**Total**
**£**
65
168
52|
|||285|
## **4. Investment income**
|**Investment income**|||
|---|---|---|
|**Unrestricted**
**funds**
**£**
Bank interest receivable
67
67|**2021**
**Total**
**£**
67
67|**2020**
**Total**
**£**
312|
|||312|
## **Mount of Olives (Coleford)**
## **Notes to financial statements**
## **for the year ended 31 December 2021**
## **5. Incoming resources from charitable activities**
|**Restricted**
**funds**
**£**
Grants
1,050
1,050|**2021**
**Total**
**£**
1,050
1,050|**2020**
**Total**
**£**
-
-|
|---|---|---|
## **6. Employees**
## **Employment costs**
A salary was paid to the Minister and is included in the costs outlined in Training and Teaching. This includes the cost of a Pension Scheme.
## **Number of employees**
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
|
Minister
**Land and**
**Fixtures,**
**7.**
**Tangible fixed assets**
**buildings fittings and**
**freehold**
**equipment**
**£**
**£**
**Cost**
At 1 January 2021 and
At 31 December 2021
31,000
500
**Net book values**
At 31 December 2021
31,000
500
At 31 December 2020
31,000
500|**2021**
**Number**
1
**£**
200
200
200|**2020**
**Number**
1
**Total**
**£**
31,700|
|---|---|---|
||||
|||31,700|
|||31,701|
|**8.**|**Creditors: amounts falling due**|
|---|---|
||**within one year**|
Trade creditors
|**2021**|**2020**|
|---|---|
|**£**|**£**|
|500|1,000|
## **Mount of Olives (Coleford)**
## **Notes to financial statements for the year ended 31 December 2021**
## **9. Analysis of net assets between funds**
|Fund balances at 31 December 2021 as represented by:
Current assets
**10.**
**Unrestricted funds**
Unrestricted Funds
**Purposes of unrestricted funds**|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**funds**
**£**
**£**
**£**
90,754
329
91,083
90,754
329
91,083
**At**
**At**
**1st April**
**Incoming**
**Outgoing**
**31st March**
**2021**
**resources**
**resources**
**2021**
**£**
**£**
**£**
**£**
119,836
72,616
)
(101,698
90,754|**Total**
**funds**
**£**
91,083|
|---|---|---|
|||91,083|
General Funds for Runing Costs
|**11.**|**Restricted funds**|**At**||||**At**|
|---|---|---|---|---|---|---|
|||**1st April**|**Incoming**|**Outgoing**||**31st March**|
|||**2021**|**resources**|**resources**||**2021**|
|||**£**|**£**|**£**||**£**|
||Redundancy Funds|-|1,050|(721|)|329|
## **Mount of Olives (Coleford)**
**The following pages do not form part of the statutory accounts.**
## **Mount of Olives (Coleford)**
## **Detailed statement of financial activities**
## **For the year ended 31 December 2021**
|**Charitable activities**
**Activity 1**
_Activities undertaken directly_
Establishment - Light & heat
Establishment - Rep. & maint.
Establishment - Insurance
Establishment - Other
Training & Teaching
Visiting Speakers
Teaching Resources
Bibles/Book/Magzines
Publicity Outreach
_Support costs_
Activity1 - Support - Professional - Accountancy
Professional - Other
Postage and Sationery
Telephone
Subscriptions and Licences
Office Equipment
Computer Costs
**Activity 1 total expenditure**
**Total charitable activity expenditure**
**Other resources expended**
Gifts & Missiions
**Net incoming/(outgoing) resources for the year**|**2021**
**£**
1,192
40,908
1,652
1,093
35,067
207
2,167
110
334
82,730
1,110
7,143
-
728
-
564
44
9,589
92,319
92,319
7,380
)
(105,511|**2020**
**£**
3,091
21,483
1,608
1,084
35,819
251
3,509
146
200
67,191
-
1,292
93
1,076
664
50
439
3,614
70,805
70,805
5,252
)
(91,321|
|---|---|---|
## **Mount of Olives (Coleford)**
## **Detailed statement of financial activities**
## **For the year ended 31 December 2021**
|**Incoming resources**
**Incoming resources from generating funds:**
_Voluntary income_
Offerings, Collections and Donations
Gifts
Tax Refunds
_Activities for generating funds_
Trips
Tuck Shop
Donations from Materials distributed
_Investment income_
Bank interest receivable
**Total incoming resources from generating funds**
**Incoming resources from charitable activities**
Grants
**Total incoming resources**
**Resources expended**
**Costs of generating funds:**
**Fundraising trading:**
**cost of goods sold and other costs**
_Community Fellowship_
Tuck Shop
Fellowship Support
Fellowship Recreation
**Total fundraising trading**
**cost of goods sold and other costs**
**Total costs of generating funds**|**2021**
**£**
**£**
59,117
340
12,099
71,556
973
-
20
993
67
67
72,616
1,050
1,050
73,666
-
426
2,294
2,720
2,720
2,720|**2020**
**£**
**£**
57,752
-
6,333
64,085
65
168
52
285
312
312
64,682
-
-
64,682
480
100
)
(84
496
496
496|**2020**
**£**
**£**
57,752
-
6,333
64,085
65
168
52
285
312
312
64,682
-
-
64,682
480
100
)
(84
496
496
496|
|---|---|---|---|
||||64,085|
||||65
168
52|
||||285|
||||312|
||||312|
||||64,682|
||||-|
||||-|
||||64,682|
||||496|
||||496|
||||496|
## **Oversby & Company**
## **Signed By**
## PAUL NICHOLLS
**Date Signed** Tue, 31 May 2022 22:05:42 +0100 **Name** Zoe Nicholls **Email** admin@mountofolives.church **Printed Name** PAUL NICHOLLS **IP Address** 2a02:c7e:59cc:3400:4577:61f2:5a71:d2b **Browser User Agent** Mozilla/5.0 (iPhone; CPU iPhone OS 15_4_1 like Mac OS X) AppleWebKit/605.1.15 (KHTML, like Gecko) Version/15.4 Mobile/15E148 Safari/604.1