**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
**1**
**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|
|---|---|
**2**
**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
................................
**3**
**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
**4**
## **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.
**5**