Charity number: 1057641
VISION CHURCH BROMLEY
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2022
Document ID: 950b28ee-0ee1-4477-9655-08c233140442
VISION CHURCH BROMLEY Contents Page For the year ended 31 December 2022
| Report ofthe Trustees | 1 to2 |
|---|---|
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 to 11 |
| DetailedStatementofFinancialActivities | 12 |
Document ID: 950b28ee-0ee1 -4477-9655-08¢233140442
VISION CHURCH BROMLEY Report of the Trustees For the year ended 31 December 2022
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2022. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The overall objective of the Church is the advancement of the christian religion by the proclamation and furtherance of the gospel of God to the community and the general public.
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
Vision Church Bromley has many volunteers that assist the church in achieving its objectives.
Achievements against objectives
During the year, the Church conducted a number of activities and services which are open to everyone including:
-Bible teaching and church services for adults and children
-Visits to members of our community and providing support and assistance with their needs.
-Facilitating community cohesion by working with our community and reaching out to others -Supporting other charities
FINANCIAL REVIEW
In the twelve months under review, net results for the year were £7,827; (2021: £1,763) and carries forward funds £89,499; (2021: £81,672).
The Trustees continue to place emphasis on financial management to ensure that the funds within the organisation are property managed. There are budgetary controls in place and they continue 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 continue the Charity's activities and are working towards achieving it.
The aim is to build reserves levels to approximately 3 months of unrestricted expenditure.
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 for the foreseeable future. Thus, the Trustees’ continue to adopt the going concern basis of accounting in preparing the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Vision Church Bromley is a charitable trust and is controlled by its governing document, a model constitution dated 25th July 1996.
Recruitment and appointment of trustees
Trustees are elected by existing trustees in a way that serves the Charity's best interests.
REFERENCE AND ADMINISTRATIVE INFORMATION
| Name of Charity | VISION CHURCH BROMLEY |
|---|---|
| Charity registration number | 1057641 |
| Principal address | 21 PALACE VIEW |
| BROMLEY | |
| BR13EJ |
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
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Document ID: 950b28ee-0ee1-4477-9655-08c233140442
VISION CHURCH BROMLEY Report of the Trustees Continued For the year ended 31 December 2022
Independent examiner
Tolu Obisesan ANS Accounts Ltd 82A James Carter Road Mildenhall Suffolk IP28 7DE
Approved by the Board of Trustees and signed on its behalf by
Donald Mayhew
“ninnane nearest ERTS 30 October 2023 Donald Mayhew
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Document ID: 950b28ee-0ee1 -4477-9655-08c¢233140442
VISION CHURCH BROMLEY Independent Examiners Report to the Trustees For the year ended 31 December 2022
| report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
| report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Totu Obiaecan
Tolu Obisesan
ANS Accounts Ltd
82A James Carter Road
Mildenhall Suffolk IP28 7DE
30 October 2023
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Document ID: 950b28ee-0ee1-4477-9655-08c233140442
VISION CHURCH BROMLEY
Statement of Financial Activities
For the year ended 31 December 2022
| Notes | Unrestricted | Restricted | 2022 | 2021 | |
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | £ | £ | ||
| Income and endowments from: | |||||
| Donations and legacies | 2 | 54,425 | 8,439 | 62,864 | 41,369 |
| Investments | 3 | 6 | - | 6 | - |
| Total | 54,431 | 8,439 | 62,870 | 41,369 | |
| Expenditure on: | |||||
| Charitable activities | 4/5 | (48,079) | (6,964) | (55,043) | (39,606) |
| Total | (48,079) | (6,964) | (55,043) | (39,606) | |
| Net income | 6,352 | 1,475 | 7,827 | 1,763 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 80,488 | 1,184 | 81,672 | 79,909 | |
| Totalfundscarriedforward | 86,840 | 2,659 | 89,499 | 81,672 |
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Document ID: 950b28ee-0ee1-4477-9655-08c233140442
VISION CHURCH BROMLEY
Statement of Financial Position As at 31 December 2022
| Notes | 2022 | 2021 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 11 | 77,282 | 78,403 |
| 77,282 | 78,403 | ||
| Current assets | |||
| Cash at bank and in hand | 13,265 | 5,584 | |
| 13,265 | 5,584 | ||
| Creditors: amounts falling due within one year | 12 | (1,048) | (2,315) |
| Net current assets | 12,217 | 3,269 | |
| Total assets less current liabilities | 89,499 | 81,672 | |
| Net assets | 89,499 | 81,672 | |
| The funds ofthe charity | |||
| Restricted income funds | 13 | 2,659 | 1,184 |
| Unrestricted income funds | 13 | 86,840 | 80,488 |
| Totalfunds | 89,499 | 81,672 |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Donald Mayhew
Donald Mayhew Trustee
30 October 2023
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Document ID: 950b28ee-0ee1 -4477-9655-08c233140442
VISION CHURCH BROMLEY Notes to the Financial Statements For the year ended 31 December 2022
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities 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 stated in the relevant accounting policy note(s).
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 for the foreseeable future. Thus, the Trustees’ continue to adopt the going concern basis of accounting in preparing the accounts.
Statement of cash flows
The Trustees have taken advantage of the exemption 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 discretion 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 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.
Resources expended
Expenditure is recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure.
All expenditure is inclusive of irrecoverable VAT.
Charitable activites
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Church. These include both directly attributable costs and apportioned support costs.
Taxation
The charity is exempt from corporation tax on its charitable activities and other income to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings 2% Per annum on cost Music Equipment 20% per annum on cost Computer equipment 33% per annum on cost Fixtures and fittings 10% per annum on cost
Finance leases
The finance element of the rental payment is charged to the Statement of Financial Activities on a straight line basis.
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Document ID: 950b28ee-0ee1-4477-9655-08c233140442
VISION CHURCH BROMLEY
Notes to the Financial Statements Continued For the year ended 31 December 2022
2. Income from donations and legacies
| Unrestricted | Restricted | 2022 | 2021 | ||
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | £ | £ | ||
| Donations received | 54,425 | 8,439 | 62,864 | 41,369 | |
| 54,425 | 8,439 | 62,864 | 41,369 | ||
| 3. | Investment income | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Unrestricted funds | |||||
| Bank interest receivable | 6 | - | |||
| 6 | - | ||||
| 4. | Costs of charitable activities byfund type | ||||
| Unrestricted | Restricted | 2022 | 2021 | ||
| funds | funds | ||||
| £ | £ | £ | £ | ||
| Charitable Activities | 27,129 | 6,964 | 34,093 | 27,520 | |
| Support costs | 20,950 | - | 20,950 | 12,086 | |
| 48,079 | 6,964 | 55,043 | 39,606 | ||
| 5. | Costs of charitable activities by activity type | ||||
| Activities | Support costs | 2022 | 2021 | ||
| undertaken | |||||
| directly | |||||
| £ | £ | £ | £ | ||
| Support costs | |||||
| Charitable Activities | 34,093 | 20,950 | 55,043 | 39,606 | |
| 6. | Analysis ofsupport costs | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Charitable Activities | |||||
| Management | 19,883 | 11,554 | |||
| Governance costs | 1,067 | 532 | |||
| 20,950 | 12,086 |
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VISION CHURCH BROMLEY Notes to the Financial Statements Continued For the year ended 31 December 2022
7. Net income/(expenditure) for the year
This is stated after charging/(crediting):
| This is stated after charging/(crediting): | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Depreciation ofowned fixed assets | 215 | - |
| Depreciation of assets held under hire purchase agreements | 1,983 | 1,983 |
| Accountancy fees | 1,067 | 532 |
| Staffpensioncontributions | 1,227 | 269 |
8. Staff costs and emoluments
Total staff costs for the year ended 31 December 2022 were:
| Total staff costs for the year ended 31 December 2022 were: | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Salaries and wages | 18,014 | 20,416 |
| Social security costs | 2,192 | 3,869 |
| Pension costs | 1,227 | 269 |
| 21,433 | 24,554 | |
| 2022 | 2021 | |
| Employees | 1 | 1 |
| 1 | 1 |
9. Trustee remuneration and related party transactions
During the year, one trustee received £18,014 and expenses totalling £284 re-imbursed in respect of the pastoral services rendered (2021 - £20,416). These services were provided separately from their role as a Trustee.
There were no other related party transactions in the year.
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Document ID: 950b28ee-0ee1-4477-9655-08c233140442
VISION CHURCH BROMLEY Notes to the Financial Statements Continued For the year ended 31 December 2022
10. Comparative for the Statement of Financial Activities
| Unrestricted | Restricted | 2021 | ||
|---|---|---|---|---|
| funds | funds | |||
| £ | £ | £ | ||
| Income and endowments from: | ||||
| Donations and legacies | 40,045 | 1,324 | 41,369 | |
| Total | 40,045 | 1,324 | 41,369 | |
| Expenditure on: | ||||
| Charitable activities | (39,466) | (140) | (39,606) | |
| Total | (39,466) | (140) | (39,606) | |
| Net income | 579 | 1,184 | 1,763 | |
| Reconciliation offunds | ||||
| Total funds brought forward | 79,909 | - | 79,909 | |
| Total funds carried forward | 80,488 | 1,184 | 81,672 | |
| Tangible fixed assets | ||||
| Land and | Music | Fixtures and | ||
| Cost orvaluation | buildings | Equipment | fittings | Total |
| £ | £ | £ | £ | |
| At 01 January 2022 | 99,141 | - | 19,749 | 118,890 |
| Additions | - | 1,077 | - | 1,077 |
| At 31 December 2022 | 99,141 | 1,077 | 19,749 | 119,967 |
| Depreciation | ||||
| At 01 January 2022 | 20,738 | - | 19,749 | 40,487 |
| Charge foryear | 1,983 | 215 | - | 2,198 |
| At 31 December 2022 | 22,721 | 215 | 19,749 | 42,685 |
| Net book values | ||||
| At 31 December 2022 | 76,420 | 862 | - | 77,282 |
| At31December2021 | 78,403 | - | - | 78,403 |
11. Tangible fixed assets
The depreciation charge for the year is £(1,983) in respect of assets leased under finance leases or hire purchase contracts.
12. Creditors: amounts falling due within one year
Accruals and deferred income
| 2022 | 2021 |
|---|---|
| £ | £ |
| 1,048 | 2,315 |
| 1,048 | 2,315 |
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Document ID: 950b28ee-0ee1 -4477-9655-08c233140442
VISION CHURCH BROMLEY Notes to the Financial Statements Continued For the year ended 31 December 2022
13. Movement in funds
Unrestricted Funds
| Balance at | Incoming | Outgoing | Balance at | |||||
|---|---|---|---|---|---|---|---|---|
| 01/01/2022 | resources | resources | 31/12/2022 | |||||
| £ | £ | £ | £ | |||||
| General | ||||||||
| General | 80,488 | 54,431 | (48,079) | 86,840 | ||||
| 80,488 | 54,431 | (48,079) | 86,840 | |||||
| Unrestricted | Funds | - | Previous | year | ||||
| Balance at | Incoming | Outgoing | Balance at | |||||
| 01/01/2021 | resources | resources | 31/12/2021 | |||||
| £ | £ | £ | £ | |||||
| General | ||||||||
| General | 79,909 | 40,045 | (39,466) | 80,488 | ||||
| 79,909 | 40,045 | (39,466) | 80,488 |
Purpose of unrestricted Funds
General
Unrestricted funds are available for use at the discretion of the Committee in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted Funds
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 01/01/2022 | resources | resources | 31/12/2022 | |
| £ | £ | £ | £ | |
| General R | 1,184 | 8,439 | (6,964) | 2,659 |
| 1,184 | 8,439 | (6,964) | 2,659 | |
| Restricted Funds - Previous year | ||||
| Balance at | Incoming | Outgoing | Balance at | |
| 01/01/2021 | resources | resources | 31/12/2021 | |
| £ | £ | £ | £ | |
| General R | - | 1,324 | (140) | 1,184 |
| - | 1,324 | (140) | 1,184 |
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Document ID: 950b28ee-0ee1-4477-9655-08c233140442
VISION CHURCH BROMLEY Notes to the Financial Statements Continued For the year ended 31 December 2022
Purpose of restricted funds
General R
Restricted funds are subject to specific conditions set out by donors as to how those funds may be used.
14. Analysis of net assets between funds
| Tangible fixed | Netcurrent | NetAssets | |
|---|---|---|---|
| assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 77,282 | 9,558 | 86,840 |
| Restricted funds | |||
| General R | - | 2,659 | 2,659 |
| 77,282 | 12,217 | 89,499 | |
| Previous year | |||
| Tangible fixed | Netcurrent | NetAssets | |
| assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 78,403 | 2,085 | 80,488 |
| Restricted funds | |||
| General R | - | 1,184 | 1,184 |
| 78,403 | 3,269 | 81,672 |
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