Charity registration number: 1057641 Vision Church Bromley Annual Report and Financial Statements for the Year Ended 31 Decetnber 2023 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Contents (continued) Tn]stees' Report Ito2 Independent EXamineS Report Statement of Financial Activities Balance Sheet Notcs to thc Financial Stst¢m¢nts 6t0 13 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Trustees, Report The trustees present the annual report together wirh rhe financial statements of the charity for the year ended 31 December 2023. Objective5 and activities Objecls uims The ovcrall objcctivc of thc Church is thc advanecmcnt of the chrItIall Tcligion by thc proclamation and furtherance of the gospel of God to the community and the general public. Public benefit The church LonduLtb a llUTnber of activities and serviLe5 which ale open to everyone including.. Bible leaching and church services for adults and children Visits to members of our cominunitv and providing support and assistance with their needs. Facilitaiing eommuiiiiy cohesion by working with our eommuiiity and reaching out to others Supporling other charities The trn%tee% confirm that they have complied with the requirements of section 17 of the Charitie8 Act 2011 to have due regard to the public benefit guidance publi%hed by the Charity Commi8%ion for Englalld and Wale%. Use of volunteers Visilin Church Brornley has many volunteers that assisi the church in achieving its objectives. Achievements ad performance Keyfih&neialperforni&Mee indieutors Unit 2023 10.808.00 100.304.00 2022 7,827.00 89.499.00 Nel Resulis Funds Finaneifil review In the twelve moiiths under review, net results for the year weie £10,808- 12022.. £7,827) aiid canry fonvard funds were £100,304: (2022.. £89,499}. Pol¢¢y on reserves The Trustees believes that unrestricted funds which have not been designated for a specifi¢ use should be Inaintained so that in the event of a significant drop in fiindin& they will be able to continue the Charity's activities. Going concern At the time of approving the accounts, the Trllstees have a reasonable expectation that the Charity ha5 adequate resouires to continue in operational existence for the foreseeable fUre. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. Page I Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Trustees, Report (continued) Reference and Administrative Details Charity Registration Number- 1057641 Principal Office.. 21 Palace View Brumley BRI 3EJ Independent Examiner.. Tolu Obisesan ANS Accounts Ltd 82A Jam¢s Cartcr Road Mildenhall Suffolk IP28 4DE Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Trustees.. Mr Tudor Vladut Ciolan Mr Christopher Dias-Abeyesinghe Mr Donald Stephen Mayhew Structure. governance and management Jvature ofgovernimg docMmeHt Vision Church Bromley is a charitable trust and ig controlled by it5 goveming document, a model constitution dated 25th July 1996. ReLruitment und tsppvinthieni ofirustees Trustees are elected by existing trusiees in a way that serves ihe Charity's best interests. The amjual reporl was approved by the irusiees Of the charily on 14 OL'iober 2024 and signed on its behalf by.. Mr Donald Stephen Mayhew Trustee Page 2 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Independent Examiner's Report to the trustees of Vision Church Bromley I report to the trustees on my examination of the accounts Lif Vision Church Brlimley for the year ended 31 December 2023. RespoThsibilitie5 and basis of report As the charity trusteeq of Vision c.hurch Brornley you are responsible for the Preparation of the accounts in accordance with the requirernents of the C.hariries Act 2011 ('the A¢t'l. I report in respect of my examination of the Vision Church Bromley's accounts carried out under section 145 of the 2011 A¢1 and in carrying out my examination I have followed all the applicable Directions given by the Charity Lommission under section 145(5Mbl of the Act. Independent examiner'5 Statement I have completed my examiiiation. J Confirm tl)at no n)aterial matters have come to niy attention in connection with the examination giving me cause io believe that in any material respect.. accounting rccords wcrc not kcpt in rcspcct of Vision Church Bromlcy a% rcquircd by scction 130 of thc Act; or 2. tht dLcounts do not aLLord with thuse reLurds; OT 3. the accounis do not coinply with the accounting requirements Clincerning the form and content of accounts sei out in the Charities (Accounis and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, Ivhich is not a maiter considered as part of an independent cxamination. I hiive no concetns and have corne across no vther Tnattets in cvnnection with the exLunination to which attentio should be drawll in this report in order tu endble a proper understdndin¥ of the aLLVUtits to be reached. Othuo4 Tolu Obisesan Association of Accounting Technicians ANS Account Ltd 82A Jame% Carter Road Mildetthall Suffolk IP28 4DE 14 Octobcr 2024 Page 3 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Statement of Financial Activities for the Year Ended 31 December 2023 Unrestrictcd funds Total 2023 Iyote Income and Endow'ments from: Donation5 and le¥Fucies Investment income 65,422 161 65,422 161 Total income 65,583 65.583 Expenditure on: Charitablc a¢tivitics 154,775) 154,775) Total ¢xpcnditur¢ 154,7751 154,775) Nct incomc 10,808 10,808 Nct movcmcnt in funds 10,808 10.808 Reeoneiliation of funds Total fiinds brought forward 89,496 89,496 Total fimds carri¢d forward 1 (10,304 Unrestricted fund5 100,304 Total 2022 Note Ineome Endowments from: Donations and legacies Investment income 62,864 62.864 Totsl income 62,870 62,870 Expenditure on: Charitable aciivities 155,0451 {55,0451 Total expenditure 155,0451 155,045) Net inLorne 7,825 7,825 Nel movement in funds 7,825 7,825 Re¢on¢iliation of fund$ Total funds brought forward 83,147 Total funds carried forward 90,972 90,972 All of the charity's activities derive frorn continuing operatio]15 duriiigF the above two periods. The funds breakdo for 2022 is in note 15. The iiote5 on pages 6 to 13 form an integral part of these financial statetnaits. Page 4 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley (Registration number: 1057641) Balance Sheet a5 at 31 December 2023 2023 2022 Iyote Fixed assets Taiigible assets Investments 646 74,437 862 76,420 75,083 77,282 Current assets Investments Cash at bank and in hand 15,000 11,452 14,740 26,452 14,740 Total assets less current liabilities 101,535 92.022 Creditors: Amounts falling due after more than one year 13 {1,231) (1,050) Net assets 100,304 90,972 Fund5 of the ch&rity: Unrestricted income fund$ Unrc%trictcd funds 1 (10,304 90,972 Total funds 15 100,304 90,972 The tInGLIa[ sl&iements pages 4 tt) 13 weTe appioved by the truslees, and authoiised foi issue on 14 OLber 2U24 and signed on their behalf by.. t) Mr Donald Stephen Mayhew Trustee The iiote5 on pages 6 to 13 form an integral part of these financial statetnaits. Page 5 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Iyotes to the Financial Statement5 for the Year Ended 31 December 2023 l Accounting policies Statement of compliance The financial statements have been prepai'ed in accoTdance with the second edition of the charitie Statement of Recommended Practice issued in Octobei 2019, the Financial Reporting Standard applicable in the United Kingdom aiid Republic of Ireland IFRS 102) the ChIlle5 Act 2011. Basis of preparation Vision Church Broinley Ineets the definition of a public benefit entiiy under FRS 102. The ac¢oui)Is {financial stateinenisl have beei) prepared under the historical cost convention with iteins recognised at cost or transaction value unless othenvise stated in the relevant notelsl to these accounts. Going concern The trustees ctsnsider that there are no material unLertainties about the charity's ability to continue as a going concern. Ineome and endtswments Voluntary income including donations, gifts, legacies and grants thai provide Core funding or are of a general nature is recognised when the ¢hariry h&s entitlement 10 rhe income, it is probable that the income will be received and the amount can be measured with suffi¢ienr reliability. Donulions and legacies Donation5 legacies are Tecognised on a receivable basis when receipt 15 probable and the arnount can be reliably tasred. Inveslmeni ineome Dividcnds are recognised once the dividend has been de¢lared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expendittire, it is probable settlement is reqiiired and the atnount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cat)not be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, '1th central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other suppoil costs are allocated based on the spread of staff costs. All resouTCeS expended are inclusive of ]eCOverable VAT. Governance costs These inclilde the costs attributable to the charity's coinpliance wqth ¢on5titutional and statutory requirements. including audit, 5trate¥ic mana¥ement and tnjstees Tneeting5 and reimbursed expenses. Irrecoverable VAT 1Cco¢rab]e VAT is charsFed against the category of resouices expended for which it was incuTTed. Page 6 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Taxation The charity is considered ro pass the iegts set oui in Paragraph I Scliedule 6 of the Finance Act 2010 and tl)erelore it meets the definition of a charitable company lor UK corporaiion tax purposes. Accordingly. the cl)arity is potentially exempt Iroin taxation in respect of income or capital gains received withii) categories covered by Chapier 3 Part I l of the c.orporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable PLtrposes. TaThgible fixed a5Set5 Individual fixed assets costing L500.OU or more are initially recorded at cost, less any subsequent accumulaied depreciation and subsequent accumulated impairment losses. Depreei#tion #nd amortisation Depreciation is proi'ided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful eeonorni¢ life as follows.. A55et clas5 orrice and music equipment Long leasehold Depreciation methud r#te 20/. Current asset investments Current asset invesiments are included at the lower of cost and net realisable value / Inarket value. Cash and cash equivalent5 Cash and cash equivalents comprise cash on hand and call deposits, and oiher short-term highly liquid invesiments thai are readily convertible to a knOn amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at ihe trStee$ dis¢retion in furtherance of the objectives of the charity. Restricted funds are subject to specific conditi0115 set by donors as to how the fund5 may be used. Pensions and other post retirement obligations The chaTity opei"ate5 a defined contributioii pen510ll Scheme which is a pension plan under which fixed contribution5 ale paid iiito a pension fund and the cliarity ha5 no legal or con5tmctive oblisFation to pa}, furtlier contributions even if the fvnd does t]ot hold sufficieiit assets to pay all eiiiployees the benefits ielatin¥ to employee serviLe in the current and piior periods. Contributions to defined contribution plans are reLognised in the Statement ot FitllnLial Activities whffli they are due. If Lontribution pa)rynents exceed the contribution due lor serviLe, the exLess is TeLogniseJ ab a prepayment. Page 7 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 2 Income from donation5 and legacies Unrestrlcted funds General Total funds Donations and legaLies.' Gift aid reclaimed 9,841 55,581 9,841 55,581 Regular giving and capitsl dO[tIonS Total for 2023 65,422 65,422 Total for 2022 62,864 62,8fv1 3 Investment income Unrestrieted fuMds General Total funds Interest receivable and similar inconie- Interest receivable on bank deposits 161 161 Total for 2023 Total for 2022 4 Expenditure on charitable Activiti¢s Unrestrieted funds General Total funds Tr4ote GoN'ernance costs 54,775 54.775 Total for 2022 55,045 Page 8 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Total expenditure S Analysis of governance and support Costs GovernaDce costs Unrestrlcted funds General Total funds StatTcosts Wugeb s&laiies Pension costs Audit fees Other fees paid to auditors Lcgal fccs Depreciation, amortisation and other similar costs Other governance costs 25,657 544 25,657 544 1,250 1,703 2,198 23,423 1.250 1,703 2,198 23,423 Total for 2023 54,775 54,775 Total for 2022 55,045 55.045 6 Net ineomingloutgoiThg resources Net incoming resources for the year include.. 2023 2022 Depreciation of fixed assets 2,198 2,198 7 Trustees remuneration And expenses No trllstees, nor any persons connected with them, have received any remuneration from the charity during the year. 8 Staff costs The gTre¥sate payToII cost5 were a5 follow5.' Page 9 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 2023 2022 Staff eosts during the year were: Wages and salarie5 Social security costs Pcnsion co%t 25,657 18,014 2,192 1,227 544 26,201 21,433 The inontlily aveTage number of persons (including senior Malge1n£t I leadership teainl einployed by the Lharity during the yeai expressed as full time equivalents Wd5 as followb.. 2023 No 2022 No Employees 1 (2022- 11 of the above employees participated in the Defined Contribution Pension Schemes. Contributions to the employee pension schemes for the year totalled £54412022- £1,227). No employee received emoluments of inoie thai) £60.000 during the year Pa¥e 10 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 9 Taxation The charity is a registered chariiy and is therefore exempt from iaxation. 10 Tangible fixed assets Furniture and equipment Total Cost At l January 2023 20,826 20,826 At 31 Deeember 2023 20,826 20,826 Depreeiatlon At l J[Uary 2023 ChargFe for the year 19,9fv1 216 19,964 216 At 31 December 2023 20,180 20,180 Net book value At 31 Decembei 2023 646 646 At 31 December 2022 862 862 11 Current asset investments 2023 12 Cash and cash equivalents 2023 2022 Cash at bank 11,452 14,740 13 Creditors: amounts falling due after one year 2023 2022 Oth¢r Crcditors A¢Lruals 1,150 1,050 1,231 1.050 14 Pension and other scheme5 Deflned contrlbutlon penslon scheme The charity operates a defined contribution pension scherne. The pension c05t charge for the year represents contributions payable by the charity to the scheme and amounted to £544 (2022- £1,227). Pa¥ell Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) IS FllDds Balanee at 31 December 2023 Balanee at I January 2023 Jncoming resources Resourees expended Unrestrieted funds General 89,496 65,583 154,7751 100,304 Balance at 31 December 2022 Balace at I January 2022 Incoming resources Resources expended Unre5tri£ted funds General 83,147 62,870 155,045) 16 Analysis of net a5set5 behveen fuThds Unrestricted funds General Total funds at 31 December 2023 TanbFible fixed assets Fixed a&5et investments Curreiit assets 646 74,437 26,452 {1:2311 646 74,437 26.452 (1,231) Crcditors ovcr l ycar Total nct asscts 100,304 Unrestricted TotAI funds at 31 December 2022 General Tangible fixed assets Fixed asset investmei)ts Current assets Cieditors oveT l yeur 862 862 76,42(1 14,740 {1,0501 76,420 14,740 (1.0501 Total net assets 90,972 90,972 17 Analysis of nct funds Pa¥e 12 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) At31 Defcmbcr 2023 At l January 2023 Cash at bank and in hand 14,740 14,740 Net debt 14,740 14,740 At31 December 2022 At l J4nuary 2U22 Net debt 18 Related party tr#ns#etions Pa¥e 13 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Statement of Financial Activities by fuThd for the Year Ended 31 December 2023 Total Total Unrestricted Unrcstrlctcd Funds Funds 2023 2022 Income and Endow'ments from: Donation5 and le¥cleS Investment incorne 65.422 161 62,864 Total inconie 65,583 62.870 F.xpenditure on: Charitable activities {54,775) {55,045) Total expenditure {54,775 155,045 Net incorne 10,808 7,825 Net moN'ement in fund. 10,808 7.825 Reconciliation of funds Total funds brouglit fonvard 89,496 83,147 Total funds carried fomrd 100,304 90,972 This pa¥e does not form part of the Statutory financial statements. Pa¥e 14 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327
Vision Church Bromley Detailed Statement of Financial Activities for the Year Ended 31 December 2023 Total 2023 Total 2022 Income and Endow'ments from: Donation5 and le¥Fucieb (nalySed below) Investment income (analysed below,) 65,422 161 62,864 Total income 65,583 62.870 Expenditure on: Charitablc a¢tivitics (analys¢d bclowl 154,775) 155,045) Total ¢xpcnditur¢ 154,775) 155,045) Nct incomc 10,808 7,825 Nct movcmcnt in funds 10,808 7,825 Reeoneiliation of funds Total fiinds brought forward 89,496 83,147 Total fimds carri¢d forward 100,304 90,972 This pa¥e does not form part of the Statutory financial statements. Pa¥e 15 Docurnent ID.. f90e7576-cd89-49bb-b3e9-be34a1482327