Charity number- 1057641 VISION CHURCH BROMLEY Report of the Trustees and Unaudited Financial Statements For the year ended 31 De￿mber 2021 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Contents Page For the year ended 31 December 2021 Report ofthe Trustees 1to2 Independent Examinerfs Report to the Trustees Statement of Financial Activities Statement of Financial Position Notes to th8 Financial Stat8ments 6t0 11 Detailed Statement of Financi81 Activities 12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Report of the Trustees For the year ended 31 December 2021 The Trustees have pleasure in presenting their report and the financial statetnents lor the charity for the year ended 31 December 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recornrnended Practice applicable lo charities preparing their accounts in accordall￿ with the Financial Reporting Standard applicable in the UK and the Republic ol Ireland IFRS 1021 leffective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aim5 The overall objedive of the Church is the advancement of the christian religion by the prodarnation and furtherance of the gospel ol God lo the community and the general public. ststement on publ1¢ beneflt The trustees have considered the Charity Corntnision's guidance on public benefit, including the guidance 'public benefit.. running a charity IP821'. Volunteer$ Vision Church Brom18y has rnany volunte8rs that asslst the church in achieving its obj8Ctives. ACHIEVEMENTS AND PERFORMANCE Significant activitie5 In Novetnber 2021, Holrncroft Churth became Vision Church Bromley. This change of name is envisaged to amplify our visibility in the community and voted in by rnembers of the Church. A¢hlevement$ agaln$t oble¢tlve$ During the y8ar, the Church conducted 8 nurnber of activities and services which are open to 8V8ryon8 induding.. -Bib18 t8aching and church services for adults and children -visits to members of our community and providing support and assistsnTr with their needs. -Facilitaling cornmunity cohesion by working with our community and reaching out to oth8rs -supporting other charities FINANCIAL REVIEW The charity report8d 8 total inwrng of £41,3698nd 8 net surplus of £1,763 in thg year to 31 D9¢ 2021, awrnulated funds We￿ £81,672. The Trustees conts.nue to place emphasis on financial management to ensure that the funds within the organisation are prop8rty managed. There are budgetary controls in place and they cx)ntinu8 to monrtor (x)sts to d&liv8r a balanced budget for the future. Res8rvgs The Trustees believes that unr8Stricted funds which hav8 not been designated for a specrfic use should be rnaint8ined so that in the event ol a signrficant drop in funding. they will be able to continue the Charity's activitses and are working towards achieving it. The airn is to build reserves levels lo 8pproxirn8tely 3 rnonths of unrestri¢ied expendilure. Going concem At the time of approving the accounts, the Ttustees have a reasonable expectation that the Charity has adequate restsur￿$ to cx)ntinue in operational existence for the foresee8ble future. Thus, th& Trustees, continue to adopt th& going concem basis of accounting in preparing the accounts. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document Vision Church Bromley is a charitable trust and is controlled by its governing document, a model constitution daled 25th July 1996. Reeruitment and appointment of trustees Trustees are elected by existing trustees in a way that serves the Charitys best interests. REFERENCE AND ADMINISTRATIVE INFORMATION Name of Charlty Charity registration number Principal address VISION CHURCH BROMLEY 1057641 21 PALACE VIEW BROMLEY 1of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Report of the Trustees Continued For the year ended 31 December 2021 BR1 3EJ Truste8S The trust8es and officers serving during th8 year and sinc8 the y88r 8nd w8re as follows.. Donald Mayhew Tudoi Vladut Ciolan Christopher Dias-Abeyesinghe Independent 8xaminer Tolu Obisesan 4a- 6a Hythe Street Dartford DA1 1BX Approv8d by the Board of Trust8es and signed on its beh81f by bpGIJ 22 October 2022 Donald Mayhew 2of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Independent Examiners Report to the Trustees For the year ended 31 December 2021 I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2021. Responslbllltles and basls of report As the charity trustees, you a￿ responsible for the preparation of the accounts in accordants wth the requirements of the Charities Art 2011 I'the 2011 ACVI. I report in respect of my examination of the charity's accounts carried out under se¢tion 145 of the 2011 Acl and in carrying out my exarnination I have followed all the applicable Directions given by the Charity Corntnission under section 14515llbl of the Act. Independent examiners statement I have completed my examination. I confirm that nts matters have come to my attention in connection with the examination giving me cause to beli8V8 that in any m8t8rial r8sp8Ct'. 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act.. or 2. the accounts do not accord with th0￿ records", or 3. the ac¢ounts do not ¢omply with the appli¢able requirements Con￿rning the form and content ol a¢counts set out in the Charities IAccounts and Report51 RegulatlQn5 2008 othei than any ￿qu1￿ment that the accounts give a'true and fail 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 thi5 r8POrt in order to 8nabl8 a prop81 understanding of th8 accounts to b8 reached. Tolu Obisesan 4a- 6a Hythe Street Dartford DA1 18X 22 October 2022 3of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Statement of Financial Activities For the year ended 31 December 2021 Notes Unrestrlcted funds Re$trfj¢ted fund5 2021 2020 Income and endowments from.. Donations and legacies Total 40.045 1.324 41.369 37.124 40,045 1,324 41,369 37,124 Expenditure on: Charitable activib'es 314 139,4661 139,4661 11401 11401 139,6061 139,6061 146,0211 146,0211 Total Net incomelexpenditure Reconclllatlon of funds Total funds brought forward Total funds carried forward 579 1,184 1,763 18,8971 79,909 79,909 88,806 80.488 1,184 81,672 79,909 4of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Statement of Financial Position As at 31 December 2021 Notes 2021 2020 Fixed zssets Tangible assets 10 78,403 80,386 78,403 80,386 Current assets Cash at bank and in hand 5,584 5,584 12,3151 2.917 2,917 13.3941 Cr8ditors= amounts falling due within one year Net current assets 3,269 81,672 14771 79,909 Totsl a$$et$ le$$ Current Ilabllltle$ Net a$$ets 81,672 79,909 The funds of tha charity Restricted income funds 12 1,184 80.488 Unrestricted in¢ome funds 12 79,909 Total funds 81,672 79,909 The financial statements were approved and authorised for issue by the Board and signed on its behalf by.. IbpGIJ Donald Mayhew Tru5te8 22 October 2022 5of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Notes lo the Financial Statements For the year ended 31 December 2021 1. Accounting Policies Basis of accounting The financial statements have been prepared under the historical cost convention. except for investments whi¢h are induded at market value and the revaluation of certain fixed assets and in accordance wth the Charitie5 SORP IFRS 1021 '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 Iieland IFRS 1021 leffe¢tive 1 January 20191,. Financial Reportsng Standard 102 the Financial Reporting Standard applicable in the UK and R8public of Ireland IFRS 1021, and the Charitie5 Act 2011. VISION CHURCH BROMLEY 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 staled in the ￿levant accounting policy notelsl. Going concern At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence lor the foreseeable future. Thus, the Trustees, wntinue to adopt the going )ncern basis of accounting in preparing the accounts. Statement of ¢a$h fflows The Trustees have taken advantage ol the exemption in SORP FRS 102 from including a cash flow statement in the financial stat8m8nts on the grounds that th8 charity is sm811. Funds Unrestricted funds ale available for use at the discietion of the Committee in furtherance of their Charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they May be used. Incoming resources All incoming resources are included in the stateffl8nt of financial adivities wh8n th8 Charity is entitled to th8 income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.. Re$our¢es expended Liabilities are recognised as resou￿$ expended when there is a legal or constructive obligation committing the Charity to the expenditur8'. Charitable activites Costs of charitable aclivities are those costs relatsng to the a¢tivities carried out to meet the objectives of the Church. These include both directly attributable costs and apportioned support C05t5. Taxation The charity is exempt from corporation tsx on its charit8ble acti￿tleS. Tangible fixed assets Tangib18 fix8d 8SS8ts, oth&r Ihan fre8hold land, are stat8d at cost or valuation 185s depreciation and any provision for impairment. Depwiation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expe¢ied useful lives on the following basis.. Land 8nd bLJildings Fixtu￿$ and fittings 2Wts Per 8nnurn on c05t 10°k per annum on cost 6of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Notes to the Financial Staternenls Conlinued For the year ended 31 December 2021 2. Income from donation8 and legacies Unrestricted funds Restricted funds 2021 2020 Donations re￿iVed 40.045 1.324 41,369 37.124 40,045 1,324 41,369 37,124 3. Costs of charl¢able actlvltles by fund type Unrestricted funds Restricted funds 2021 2020 Charitable Activities 27,520 11,946 27,520 12,086 23,894 22,127 Support costs 140 39,466 140 39,606 46,021 4. Costs of charitable activities by activity type Activitie5 undertaken d1￿CtlY Support costs 2021 2020 Support Costs Charitable Activities 27.520 12.086 39,606 46,021 5. Analysis of support costs 2021 2020 Charitable Activitie5 Management Goveinance costs 11,554 532 20,483 1,644 12,086 22,127 7of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Notes to the Financial Staternenls Continued For the year ended 31 December 2021 6. Net incomellexp8nditur81 for th8 year This is stated after chargingllcreditingl.. 2021 2020 Depreciation of owned fixed assets Depre¢iation of assets held under hire purchase agreements Accountsncy fees Stsff pension contributions 1,276 1.983 1.983 532 1,644 269 7. Staff cost5 and emoluments Total staff costs for the year ended 31 December 2021 were.. 2021 2020 Salaries and wages Social security costs Pension cost5 20,416 3,869 17,468 269 17,468 2021 2020 Employ88S 8. Trust0• r•munoration and rolat•d party transaetions During the year, one Trustee r8ceived £20,685 in respect of servic8s provided to th8 church. Th8S8 Services w8re provided separately from their role as a Trustee. There We￿ no Trustees remunerats.on in the year. 8of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Notes to the Financial Staternenls Conlinued For the year ended 31 December 2021 9. Comparative for th8 Statement of Financial Activit185 Unrestricted funds Restricted funds 2020 Incom8 and endowments from= Donations and legacies Total 36.874 250 37,124 36,874 250 37,124 Expenditure on.. Charitable activities 145,7711 145,7711 12501 12501 146,0211 146.0211 Total Net incornelexpenditure Reconciliation of funds 18,8971 18,897 Total funds brought forward Total funds carried forward 88,806 88,806 79,909 79,909 10. Tangib18 fixed assets Land and buildings Fixtur85 an fittings Cost or valuatlon Totsl At 01 January 2021 At 31 DeTrmber 2021 99.141 19,749 19,749 118.890 99,141 118,890 Depre¢latlon At 01 January 2021 18,755 19,749 38,504 Charge for year At 31 De￿mber 2021 1,983 20,738 1,983 40,487 19,749 Net book value5 At 31 De￿mber 2021 78,403 78,403 At 31 Decemb8r 2020 80,386 80,386 The depre¢iation charge for the year is £11,983) in respect of asseis leased under finan1￿ leases or hire purchase contracts. 11. Creditors.. amounts falling due within one year 2021 2020 Accruals and def8rr8d in(x)rn8 2,315 3,394 2,315 3,394 9of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Notes to the Financial Staternenls Continued For the year ended 31 December 2021 12. Movement In funds Unrestricted Funils Balance at 0110112021 Incoming re$our¢es Outgoing resour¢e$ Balance at 3111212021 Gener81 G8n8ral 79.909 40,045 139,4661 80,488 79,909 40,045 139,4661 80,488 Unrestrlcted Funds- Prevlous year Balance at 0110112020 Incoming resources Outgoing resources Balance at 3111212020 G8n8rsl General 88,806 36,874 145,7711 79,909 88,806 38,874 145,7711 79,909 Purpo$e of unre$trl¢ted Fund$ General Unrestricted funds 8r8 available for use at the discr8tion of th8 Cornrnitte8 in furtheranc8 of their charitable objectlV8S unless the funds have been designated for other purposes. Restricted Funds Incoming resources Outgoing resources Balance at 3111212021 Gener81 R 1,324 11401 1,184 1,324 11401 1,184 Restricted Funds- Previous year Incoming re$ource$ Outgoing re$our¢e$ Balance at 3111212020 General R 250 12501 250 12501 10of12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384 VISION CHURCH BROMLEY Notes to the Financial Staternenls Conlinued For the year ended 31 December 2021 Purpose of re$trl¢ted fund$ General R Restricted funds a￿ subject to specific conditions sel out by donors as to how those funds may be used. 13. Analysls of net asse¢$ betsveen funds Tangible xed assets Net current assets I Net Assets Unrestricted funds G8n8ral General 78,403 2,085 80.488 Restrlcted funds General R 1,184 1,184 78.403 3.269 81,672 P￿viouS year Tanglbla fixed assets Net currant as58ts I Not A880ts Unrestri¢tÈd furtds General G8n8r81 80,386 14771 79,909 Restricted funds 80.386 14771 79,909 11 of 12 Doc ID.. 1f62d83b29883868f2b1c5b863c29d4837782384