THE ASSOCIATION OF THE CONTINUING CHURCH TRUST
SIGNIFICANT INFORMATION
Registered Charity Number 1055010
Governing Instrument: Declaration of Trust dated 2nd March 1996. Address Correspondent: Mr D K Mansell 17 Greenfels Rise, Oakham, Dudley, West Midlands DY2 7TP Website www.continuingcofe.org Trustees The Rt Rev E J Malcolm Presiding Bishop & Chairman The Rt Rev Dr D N Samuel, Assistant Bishop Rev P Ratcliff Mr D K Mansell, Hon Treasurer & Hon Secretary Mr C J Richards Decisions are made by Trustees at Trustees meetings. New Trustees are appointed by the existing Board of Trustees. Associated Churches: Holy Trinity Church, Frinton Community Centre, Soken House, The Triangle, Frinton-on-Sea St John's Church South London St Mary's Castle St, Reading, Berks St Silas', 1 Long Street, Wolverhampton, W Midlands Accountant: Ian Afflick Esq. FCA 336a, Wellington Road North, Heaton Chapel, Stockport, Cheshire SK4 5DA Solicitor : Pearce Legal Solicitors, The Corner House, 60 Cole Bank Road, Hall Green, Birmingham, B28 8EY Bankers: CAF BANK Ltd, 25 Kings Hill, West Malling, Kent, ME19 4JQ Lloyds TSB, Five Ways, Edgbaston, Birmingham
THE ASSOCIATION OF THE CONTINUING CHURCH TRUST
TRUSTEES REPORT YEAR ENDED 31ST DECEMBER 2021
Aims and Organisation: The main objects as set out in the Trust Deed are the advancement of the Christian Faith and relief of persons in hardship or distress, the aged and the sick. The Association supervises and assists in the organisation and work of the five member churches. There are no staff other than the honorary officers listed above but financial and other assistance is given to candidates being trained for the ministry of the Continuing Church.
The Association`s activities consist chiefly in organising the affairs of the denomination (The Continuing Church), overseeing, encouraging and assisting the five member churches with advice and by visits, taking services, giving addresses and publication of a Journal.
Member churches are episcopally governed whilst recognising the individual rights of the local church, as set out in the Canons.
Canons have been introduced which formalise the legal framework of the denomination. Otherwise there is no formal relationship between member churches and the Trust.
Mission Statement: To preach the Gospel of our Lord Jesus Christ. Review of progress:
The Church of England (Continuing) website has been updated at various intervals.
Three meetings of the Trustees were held during the year. All meetings were held over the internet via "Zoom" .
A General Assembly was held on 25th September at St Mary`s, Reading.
Prior to the assembly, on the same day, Mr Philip Lievesley was appointed as Deacon at a special service of ordination.
The Church of England (Continuing) exhibited at the Christian Resources Exhibition in Esher in October 2021. The Church of England (Continuing) published a book ("The Old Faith" by Henry Bullinger) during the year.
Apart from the events mentioned above, the main activities of the Association have again centred around the work of the member churches.
Review of financial The Trust has been operating with the following accounts during the year: activities and affairs: - A High Interest Cheque Account with CAF Bank. The majority of financial transactions are carried out through this account. - A "CAFGold" Deposit Account. A restricted fund exists within the accounts for donations for supporting full-time ministers. The Trust does not currently offer regular financial support to Ministers. The Association is entirely dependent on donations from member churches and individuals and will remain so in 2022, as far as can be foreseen. This includes some provision for the continuing expenses of training and supporting clergy.
The Association is not a custodian trustee for any other charity.
Reserves Policy: Our reserves are for the future training and payment of clergy and ongoing expenses. Grant making policy: Decisions about making Grants are to be referred to meetings of the Trustees Risk Assessment The Trustees have identified and reviewed the major risks to which the charity is exposed and have ensured that systems have been designed and established to mitigate these risks. Public Benefit The aim of the Association of the Continuing Church Trust is to advance the Christian religion through our member churches and by such means as organising public meetings, the distribution of literature and provision of a website.
The Trustees consider that these activities provide benefit both to those who worship with us and to the wider community.
D K Mansell (Secretary) 16th February 2022
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THE ASSOCIATION OF THE CONTINUING CHURCH TRUST
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST DECEMBER 2021
| 31 12 21 INCOME & EXPENDITURE Notes Unrestricted Restricted INCOMING RESOURCES Funds Funds £ £ Offerings & Donations Received 1 15,180 13,515 Investment Income Interest Received 12 - Trading Income Book & Cassette Sales 288 TOTAL INCOMING RESOURCES 15,480 13,515 Less: RESOURCES EXPENDED Direct Charitable Expenditure Support of Ministers - 43 Gifts to Congregations 4,740 Training - 526 Evangelism 2,257 - Meeting & Promotional Expenses 544 - Gifts to Other Organisations - Journal Expenses 131 - Cost of Sales 343 3,275 5,309 Governance 415 - TOTAL RESOURCES EXPENDED 3,690 5,309 NET INCOMING/ (OUTGOING) RESOURCES for the Year 11,790 8,206 FUND BALANCES as at 1st January 2021 74,287 29,412 as at 31st December 2021 86,077 37,618 |
31 12 20 Total Total £ £ 28,695 3,641 12 79 288 - 28,995 3,720 43 - 4,740 - 526 - 2,257 1,326 544 805 - 1,290 131 - 343 - 8,584 3,421 415 405 8,999 3,826 19,996 ) (106 103,699 103,805 123,695 103,699 |
|---|---|
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THE ASSOCIATION OF THE CONTINUING CHURCH TRUST
BALANCE SHEET AS AT 31ST DECEMBER 2021
| Notes FIXED ASSETS 3 Office Equipment Current Assets Stock of hoods & books Debtors & Prepayments Cash at Bank and in Transit Less: Current Liabilities payable within one year Creditors & Accruals NET CURRENT ASSETS NET ASSETS Represented By: FUNDS Unrestricted General Restricted - Training Fund 4 Other 5 |
31 12 21 £ £ 98 833 498 122,671 124,002 ) (405 123,597 £ 123,695 86,077 13,270 24,348 £ 123,695 |
31 12 21 £ £ 98 833 498 122,671 124,002 ) (405 123,597 £ 123,695 86,077 13,270 24,348 £ 123,695 |
31 12 20 £ £ 131 781 1,233 107,085 109,099 ) (5,531 103,568 £ 103,699 74,287 13,058 16,354 £ 103,699 |
31 12 20 £ £ 131 781 1,233 107,085 109,099 ) (5,531 103,568 £ 103,699 74,287 13,058 16,354 £ 103,699 |
|---|---|---|---|---|
| £ £ |
£ £ |
|||
| 123,695 | 103,699 | |||
| 86,077 13,270 24,348 |
74,287 13,058 16,354 |
|||
| 123,695 | 103,699 |
Approved by Trustees May 2022
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THE ASSOCIATION OF THE CONTINUING CHURCH TRUST
ACCOUNTANT'S REPORT TO THE TRUSTEES OF THE ASSOCIATION OF THE CONTINUING CHURCH TRUST YEAR ENDED 31ST DECEMBER 2021
I report on the accounts of the Trust for the Year ended 31st December 2021, which are set out on pages 1 to 5.
The accounts have been prepared from the books and records of the Trust and other explanations given and agree therewith.
27th May 2022
I Afflick FCA Chartered Accountant 336a Wellington Road North Heaton Chapel STOCKPORT Cheshire SK4 5DA
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THE ASSOCIATION OF THE CONTINUING CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2021
1. ACCOUNTING POLICIES
The Financial Statements are prepared on a historical accounts basis, taking into account accruals and depreciation where relevant, in order to ensure consistency.
All restricted gifts are separately recorded when received, though expenditure is not separately analysed when made, outstanding amounts being noted at the year end.
Gifts in kind are only recorded and included if material, and then are included as income in the year given.
Grants are recorded as income only when received. Income Tax recoverable from Deeds of Covenant & Gift Aid donations is included at the date net donations are received, and where appropriate included as a debtor at the Balance Sheet date.
Only reimbursements of expenditure are netted off against such and not counted as income.
Unrestricted Funds are incoming resources, which can be used in accordance with the charitable objects at the discretion of the trustees.
Designated Funds are unrestricted funds set aside by the trustees for particular purposes.
Restricted Funds are to be used for specific purposes. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Assets are Capitalised, irrespective of finance sources and methods, provided such are permanently intended to be used by the Trust.
Current Assets are shown at the lower of cost and net realisable value.
Current Liabilities are shown at settlement value.
2. DEPRECIATION OF FIXED ASSETS
This is provided on the reducing balance method (unless otherwise shown), based on expected useful lives, at the following rates:Office Equipment 25% Prayer Books 10% Straight Line
3. FIXED ASSET MOVEMENTS
| FIXED ASSET MOVEMENTS Office As at 1st January 2021 Depreciation as at 1st January 2021 Charge for Year At 31st December 2021 NET BOOK VALUE At 31st December 2021 At 31st December 2020 |
Equipment £ 1,630 1,499 33 1,532 98 131 |
Total £ 1,630 |
|---|---|---|
| 1,499 33 |
||
| 1,532 | ||
| 98 | ||
| 131 |
4. FUNDS & FUND TRANSFERS
Apart from Specific gifts for congregations and a number of minor Funds connected with certain potential expenses, the main continuing Fund is the Training Fund, to assist in the training and other support of Ministers.
5. ANALYSIS OF NET ASSETS BY FUND
| ANALYSIS OF NET ASSETS BY FUND | Unrestricted | Restricted | Total | ||
| Funds | Funds | ||||
| £ | £ | £ | |||
| Fixed Assets | 98 | 98 | |||
| Current Assets | 86,384 | 37,618 | 124,002 | ||
| Current Liabilities | (405 | ) | (405 | ) | |
| Fund Balance at 31st December 2021 | 86,077 | 37,618 | 123,695 |
6. TRUSTEES EXPENSES & TRANSACTIONS WITH CONNECTED PERSONS
Immaterial administrative expenses were claimed by Trustees.
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