Charity number: 1057641 ## HOLMCROFT CHURCH Report of the Trustees and Unaudited Financial Statements For the year ended 31 December 2020 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 HOLMCROFT CHURCH Contents Page For the year ended 31 December 2020 |Report of the Trustees|1 to 2| |---|---| |Independent Examiner's Report to the Trustees|3| |Statement of Financial Ac�vi�es|4| |Statement of Financial Posi�on|5| |Notes to the Financial Statements|6 to 10| |Detailed Statement of Financial Ac�vi�es|11| Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 HOLMCROFT CHURCH Report of the Trustees For the year ended 31 December 2020 The Trustees have pleasure in presen�ng their report and the financial statements for the charity for the year ended 31 December 2020. The Trustees have adopted the provisions of Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and the Republic of Ireland (FRS 102) (effec�ve 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** The overall objec�ve of the Church is the advancement of the chris�an religion by the proclama�on and furtherance of the gospel of God. ## **Statement on public benefit** The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **Volunteers** Holmcro� Church has many volunteers that assist the Church in achieving its objec�ves. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Significant ac�vi�es** During the year, the Church conducted a number of ac�vi�es and services which are open to everyone including: - Bible teaching and church services for adults and children - Visits to members of our communi�es and providing support and assistance with their needs. - Facilita�ng community cohesion by working with the community and reaching out - Suppor�ng other chari�es ## **FINANCIAL REVIEW** The Trustees con�nue to place emphasis on financial management to ensure that the funds within the organisa�on are property managed. There are budgetary controls in place and they con�nue to monitor costs to deliver a balanced budget for the future. ## **Reserves** The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to con�nue the Charity's ac�vi�es and are working towards achieving it. The aim is to build reserves levels to approximately 3 months of unrestricted expenditure. ## **Going concern** At the �me of approving the accounts, the Trustees have a reasonable expecta�on that the Charity has adequate resources to con�nue in opera�onal existence for the foreseeable future. Thus, the Trustees' con�nue to adopt the going concern basis of accoun�ng in preparing the accounts. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Holmcro� Church is a charitable trust and is controlled by its governing document, a model cons�tu�on dated 25th July 1996. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** HOLMCROFT CHURCH **Charity registra�on number** 1057641 **Principal address** 21 PALACE VIEW BROMLEY BR1 3EJ 1 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 HOLMCROFT CHURCH Report of the Trustees Con�nued For the year ended 31 December 2020 ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Donald Mayhew Tudor Vladut Ciolan Christopher Dias-Abeyesinghe **Independent examiner** Tolu Obisesan New Bond Accountants 4a - 6a Hythe Street Dar�ord DA1 1BX Approved by the Board of Trustees and signed on its behalf by 29 October 2021 Donald Mayhew............................................................................. 2 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 HOLMCROFT CHURCH Independent Examiners Report to the Trustees For the year ended 31 December 2020 I report to the trustees on my examina�on of the accounts of the charity for the year ended 31 December 2020. ## **Responsibili�es and basis of report** As the charity trustees, you are responsible for the prepara�on of the accounts in accordance with the requirements of the Chari�es Act 2011 ('the 2011 Act'). I report in respect of my examina�on of the charity’s accounts carried out under sec�on 145 of the 2011 Act and in carrying out my examina�on I have followed all the applicable Direc�ons given by the Charity Commission under sec�on 145(5)(b) of the Act. ## **Independent examiners statement** I have completed my examina�on. I confirm that no ma�ers have come to my a�en�on in connec�on with the examina�on giving me cause to believe that in any material respect: 1. accoun�ng records were not kept in respect of the Charity as required by sec�on 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Chari�es (Accounts and Reports) Regula�ons 2008 other than any requirement that the accounts give a 'true and fair view' which is not a ma�er considered as part of an independent examina�on. I have no concerns and have come across no other ma�ers in connec�on with the examina�on to which a�en�on should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Tolu Obisesan New Bond Accountants 4a - 6a Hythe Street Dar�ord DA1 1BX 29 October 2021 3 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 ## HOLMCROFT CHURCH Statement of Financial Ac�vi�es ## For the year ended 31 December 2020 |**Notes**
**Income and endowments from:**
Dona�ons and legacies
2
**Total**
**Expenditure on:**
Charitable ac�vi�es
3/4
**Total**
**Net income/expenditure**
**Reconcilia�on of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
36,874
**36,874**
)
(45,771
**)**
**(45,771**
**)**
**(8,897**
88,806
**79,909**|**Restricted**
**funds**
**£**
250
**250**
)
(250
**)**
**(250**
**-**
-
**-**|**2020**
**£**
37,124
**37,124**
)
(46,021
**)**
**(46,021**
**)**
**(8,897**
88,806
**79,909**|**2019**
**£**
43,381
**43,381**
)
(43,079
**)**
**(43,079**
**302**
88,504
**88,806**| |---|---|---|---|---| 4 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 ## HOLMCROFT CHURCH Statement of Financial Posi�on As at 31 December 2020 ||**Notes**|**2020**|**2019**| |---|---|---|---| |||**£**|**£**| |**Fixed assets**|||| |Tangible assets|9|80,386|83,645| |||**80,386**|**83,645**| |**Current assets**|||| |Cash at bank and in hand||2,917|6,705| |||**2,917**|**6,705**| |**Creditors: amounts falling due within one year**|10|)
(3,394|)
(1,544| |**Net current assets**||**)**
**(477**|**5,161**| |**Total assets less current liabili�es**||**79,909**|**88,806**| |**Net assets**||**79,909**|**88,806**| |**The funds of the charity**|||| |Unrestricted income funds|11|79,909|88,806| |**Total funds**||**79,909**|**88,806**| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Donald Mayhew Trustee 29 October 2021 5 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 HOLMCROFT CHURCH Notes to the Financial Statements For the year ended 31 December 2020 ## **1. Accoun�ng Policies** ## **Basis of accoun�ng** The financial statements have been prepared under the historical cost conven�on, except for investments which are included at market value and the revalua�on of certain fixed assets and in accordance with the Chari�es SORP (FRS 102) ‘Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2019)’, Financial Repor�ng Standard 102 the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102), and the Chari�es Act 2011. HOLMCROFT CHURCH meets the defini�on of a public benefit en�ty under FRS 102. Assets and liabili�es are ini�ally recognised at historical cost or transac�on value unless otherwise stated in the relevant accoun�ng policy note(s). ## **Going concern** At the �me of approving the accounts, the Trustees have a reasonable expecta�on that the Charity has adequate resources to con�nue in opera�onal existence for the foreseeable future. Thus, the Trustees' con�nue to adopt the going concern basis of accoun�ng in preparing the accounts. ## The Trustees have taken advantage of the exemp�on in SORP FRS 102 from including a cash flow statement in the financial statements on the grounds that the charity is small. ## **Funds** Unrestricted funds are available for use at the discre�on of the Commi�ee in furtherance of their charitable objec�ves unless the funds have been designated for other purposes. Restricted funds are subject to specific condi�ons by donors as to how they may be used. ## **Incoming resources** All incoming resources are included in the statement of financial ac�vi�es when the Charity is en�tled to the income and the amount can be quan�fied with reasonable accuracy. The following specific policies are applied to par�cular categories of income: ## **Resources expended** Liabili�es are recognised as resources expended when there is a legal or construc�ve obliga�on commi�ng the Charity to the expenditure: ## **Charitable ac�vites** Costs of charitable ac�vi�es are those costs rela�ng to the ac�vi�es carried out to meet the objec�ves of the Church. These include both directly a�ributable costs and appor�oned support costs. ## **Taxa�on** The charity is exempt from corpora�on tax on its charitable ac�vi�es. ## **Tangible fixed assets** Tangible fixed assets, other than freehold land, are stated at cost or valua�on less deprecia�on and any provision for impairment. Deprecia�on is provided at rates calculated to write off the cost or valua�on of fixed assets, less their es�mated residual value, over their expected useful lives on the following basis: 6 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 ## HOLMCROFT CHURCH Notes to the Financial Statements Con�nued For the year ended 31 December 2020 ## **2. Income from dona�ons and legacies** |Dona�ons received
**Costs of charitable ac�vi�es by fund type**
Charitable Ac�vi�es
Support costs
**Costs of charitable ac�vi�es by ac�vity type**
**Support costs**
Charitable Ac�vi�es
**Analysis of support costs**
**Charitable Ac�vi�es**
Management
Finance
Governance costs|**Unrestricted**
**funds**
**£**
36,874
**36,874**
**Unrestricted**
**funds**
**£**
23,644
22,127
**45,771**
**Ac�vi�es**
**undertaken**
**directly**
**£**
23,894|**Restricted**
**funds**
**£**
250
**250**
**Restricted**
**funds**
**£**
250
-
**250**
**Support costs**
**£**
22,127|**2020**
**£**
37,124
**37,124**
**2020**
**£**
23,894
22,127
**46,021**
**2020**
**£**
46,021
**2020**
**£**
20,483
-
1,644
**22,127**|**2019**
**£**
43,381
**43,381**
**2019**
**£**
26,979
16,100
**43,079**
**2019**
**£**
43,079
**2019**
**£**
12,355
10
3,735
**16,100**| |---|---|---|---|---| ## **3. Costs of charitable ac�vi�es by fund type** ## **4. Costs of charitable ac�vi�es by ac�vity type** ## **5. Analysis of support costs** 7 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 ## HOLMCROFT CHURCH Notes to the Financial Statements Con�nued For the year ended 31 December 2020 ## **6. Net income/(expenditure) for the year** This is stated a�er charging/(credi�ng): ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |Deprecia�on of owned fxed assets|1,276|1,975| |Deprecia�on of assets held under hire purchase|1,983|1,983| |agreements||| |Accountancy fees|1,644|3,735| ## Total staff costs for the year ended 31 December 2020 were: |Salaries and wages|**2020**
**£**
17,468
**17,468**|**2019**
**£**
21,545
**21,545**| |---|---|---| ## **8. Compara�ve for the Statement of Financial Ac�vi�es** The compara�ve year values on the Statement of Financial Ac�vites are for unrestricted funds. ## **9. Tangible fixed assets** |**Cost or valua�on**
At 01 January 2020
At 31 December
2020
**Deprecia�on**
At 01 January 2020
Charge for year
At 31 December
2020
**Net book values**
At 31 December
2020
At 31 December
2019|**Land and**
**Buildings**
**£**
99,141
**99,141**
16,772
1,983
**18,755**
**80,386**
**82,369**|**Computer**
**Equipment**
**£**
19,749
**19,749**
18,473
1,276
**19,749**
**-**
**1,276**|**Total**
**£**
118,890
**118,890**
35,245
3,259
**38,504**
**80,386**| |---|---|---|---| ||||**83,645**| ||||| The deprecia�on charge for the year is £(1,983) in respect of assets leased under finance leases or hire purchase contracts. 8 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 ## HOLMCROFT CHURCH Notes to the Financial Statements Con�nued For the year ended 31 December 2020 ## **10. Creditors: amounts falling due within one year** |Accruals and deferred income|**2020**
**£**
3,394
**3,394**|**2019**
**£**
1,544
**1,544**| |---|---|---| ## **11. Movement in funds** ## **Unrestricted Funds** |_General_
General
**Unrestricted Funds - Previous year**
_General_
General|**Balance at**
**01/01/2020**
**£**
88,806
**88,806**
**Balance at**
**01/01/2019**
**£**
88,504
**88,504**|**Incoming**
**resources**
**£**
36,874
**36,874**
**Incoming**
**resources**
**£**
43,381
**43,381**|**Outgoing**
**resources**
**£**
)
(45,771
**)**
**(45,771**
**Outgoing**
**resources**
**£**
)
(43,079
**)**
**(43,079**|**Balance at**
**31/12/2020**
**£**
79,909
**79,909**
**Balance at**
**31/12/2019**
**£**
88,806
**88,806**| |---|---|---|---|---| ## **Purpose of unrestricted Funds** ## General Unrestricted funds are available for use at the discre�on of the Commi�ee in furtherance of their charitable objec�ves unless the funds have been designated for other purposes. ## **Restricted Funds** |General R|**Incoming**
**resources**
**£**
250
**250**|**Outgoing**
**resources**
**£**
)
(250
**)**
**(250**|**Balance at**
**31/12/2020**
**£**
-
**-**| |---|---|---|---| 9 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 HOLMCROFT CHURCH Notes to the Financial Statements Con�nued For the year ended 31 December 2020 ## **Restricted Funds - Previous year** |**Incoming**
**resources**
**£**
**-**|**Outgoing**
**resources**
**£**
**-**|**Balance at**
**31/12/2019**
**£**
**-**| |---|---|---| ## **Purpose of restricted funds** ## General R Restricted funds are subject to specific condi�ons set out by donors as to how those funds may be used. ## **12. Analysis of net assets between funds** |**Unrestricted funds**
_General_
General
**Previous year**
**Unrestricted funds**
_General_
General|**Tangible fxed**
**assets**
**Net current**
**assets /**
**(liabili�es)**
**Net Assets**
**£**
**£**
**£**
80,386
)
(477
79,909
**80,386**
**)**
**(477**
**79,909**
**Tangible fxed**
**assets**
**Net current**
**assets /**
**(liabili�es)**
**Net Assets**
**£**
**£**
**£**
83,645
5,161
88,806
**83,645**
**5,161**
**88,806**| |---|---| 10 of 11 Doc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7 ## HOLMCROFT CHURCH Detailed Statement of Financial Ac�vi�es For the year ended 31 December 2020 |**INCOME AND ENDOWMENT**
**Dona�ons and legacies**
Tithes & Oferings
Other Income
**Total incoming resources**
**EXPENDITURE**
**Charitable ac�vi�es**
Staf Costs - Wages & Salaries
Adver�sement & Promo�on
Charitable Dona�ons
Conferences And Mee�ngs
Ministry Expenses
Honorarium
Music Expenses
**SUPPORT COSTS**
**Management**
Deprecia�on - Owned Assets
Deprecia�on - Leased Assets
Insurance
Light And Heat
Repairs & Maintenance
Small Equipment And Computer Expenses
Subscrip�on
Telephone
Rates And Water
Ofce And Administra�ve
Legal & Professional Fees
Rent
Bank Charges
**Finance**
Bank Charges
**Governance costs**
Accountancy Fees
**Total resources expended**
**Net Expenditure**|**£**
**2020**
36,867
257
**37,124**
**37,124**
)
(17,468
-
)
(1,128
)
(539
)
(552
)
(400
)
(3,807
**)**
**(23,894**
)
(1,276
)
(1,983
)
(1,021
)
(4,976
)
(200
)
(2,100
)
(961
)
(500
)
(59
)
(212
)
(4,565
)
(2,600
)
(30
**)**
**(20,483**
-
**-**
)
(1,644
**)**
**(1,644**
**)**
**(46,021**
**)**
**(8,897**|**£**
**2019**
42,454
927
**43,381**| |---|---|---| |||**43,381**
)
(21,545
)
(126
)
(2,785
)
(135
)
(2,388
-
-
**)**
**(26,979**
)
(1,975
)
(1,983
)
(988
)
(3,932
)
(150
)
(704
)
(241
)
(470
)
(94
)
(612
)
(1,206
-
-
**)**
**(12,355**
)
(10
**)**
**(10**
)
(3,735
**)**
**(3,735**| |||**)**
**(43,079**
**302**| 11 of 11 This page does not form part of the statutory financial statementsDoc ID: 27dbae640b3a469258ae1b8c8540dec1e4b837e7