Annual Report and Financial Statements for the Year Ended 31 December 2023
Voice In The City Ministries
Charity registration number: 1061939
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
VOICE IN THE CITY MINISTRIES
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 13 |
VOICE IN THE CITY MINISTRIES
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Monica Claxton Susanna Hattingh Tobias Von Stosch Kenneth Gott
Charity Registration 1061939 Number
Principal Office Life Central Church Little Cornbow Halesowen West Midlands B63 3AJ Independent Examiner G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF Bankers HSBC 120 High Street Brierley Hill West Midlands DY5 3BD
Page 1
VOICE IN THE CITY MINISTRIES
TRUSTEES' REPORT
The Trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023.
Objectives and activities
Objects and aims
The Charity's objectives are to pursue its vision of promoting the Good News of Jesus Christ by holding outreach events and missions throughout the world.
Public benefit
The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
General ministry in the UK has remained stable through and after the Covid pandemic. This past year Gayle (Monica) Claxton has been over several times ministering in conferences and local churches which we hope to be able to pick up more in 2024.
Financial review
Policy on reserves
The Trustees continually monitor the financial position of the Charity and the amount of at least £25,000 is considered to be necessary to provide financial stability for future operations.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Structure, governance and management
Nature of governing document
The Charity was formed under a Declaration of Trust dated 9th January 1997. The principal object of the charity is the advancement of the Christian faith.
Recruitment and appointment of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Organisational structure
The Trust is a well-established Christian ministry which holds crusades and conferences around the world. M G Claxton is the person responsible for carrying out the work of the Trust on a daily basis.
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VOICE IN THE CITY MINISTRIES
TRUSTEES' REPORT (CONTINUED)
Risk management
The trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Statement of Responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the Trustees of the charity on 10 April 2024 and signed on its behalf by:
......................................... Monica Claxton Trustee
Page 3
VOICE IN THE CITY MINISTRIES
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VOICE IN THE CITY MINISTRIES
I report to the Trustees on my examination of the accounts of Voice In The City Ministries for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity Trustees of Voice In The City Ministries you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Voice In The City Ministries's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Voice In The City Ministries as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
I 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.
...................................... G W Schulz ACMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham Chichester West Sussex PO18 8NF
10 April 2024
Page 4
VOICE IN THE CITY MINISTRIES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 2 186,558 Investment income 3 5,703 Other income 4 - Total income 192,261 Expenditure on: Charitable activities 5 55,207 Total expenditure 55,207 Net income/(expenditure) 137,054 Net movement in funds 137,054 Reconciliation of funds Total funds brought forward 357,804 Total funds carried forward 12 494,858 |
Total 2023 £ 186,558 5,703 - 192,261 55,207 55,207 137,054 137,054 357,804 494,858 |
Total 2022 £ 29,263 656 654 |
|---|---|---|
| 30,573 | ||
| 42,597 | ||
| 42,597 | ||
| (12,024) | ||
| (12,024) 369,828 |
||
| 357,804 |
The notes on pages 7 to 13 form an integral part of these financial statements. Page 5
VOICE IN THE CITY MINISTRIES
BALANCE SHEET AS AT 31 DECEMBER 2023
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: Amounts falling due within one year 11 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 12 |
2023 £ 1,045 1,045 4,390 490,283 494,673 (860) 493,813 494,858 494,858 494,858 |
2022 £ 2,000 |
|---|---|---|
| 2,000 | ||
| 3,695 353,138 |
||
| 356,833 (1,029) |
||
| 355,804 | ||
| 357,804 | ||
| 357,804 | ||
| 357,804 |
The financial statements on pages 5 to 13 were approved by the Trustees, and authorised for issue on 10 April 2024 and signed on their behalf by:
......................................... Monica Claxton Trustee
The notes on pages 7 to 13 form an integral part of these financial statements. Page 6
VOICE IN THE CITY MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Voice In The City Ministries meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Gift aid
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
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VOICE IN THE CITY MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation 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 purposes.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
| Asset class | Depreciation method and rate |
|---|---|
| Equipment | 25% reducing balance |
| Fixtures & fittings | 25% reducing balance |
| Motor vehicles | 25% reducing balance |
| Computer equipment | 33% straight line |
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 8
VOICE IN THE CITY MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)
Liabilities
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2 Income from donations and legacies
| Donations and legacies; Donations Gift aid reclaimed 3 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 183,053 3,505 186,558 Unrestricted funds General £ 5,703 |
Total 2023 £ 183,053 3,505 186,558 Total 2023 £ 5,703 |
Total 2022 £ 26,449 2,814 |
|---|---|---|---|
| 29,263 | |||
| Total 2022 £ 656 |
Page 9
VOICE IN THE CITY MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)
4 Other income
| 4 Other income | ||
|---|---|---|
| Other income 5 Expenditure on charitable activities |
Total 2023 £ - |
Total 2022 £ 654 |
| Note Programme expenses Postage and mailouts Travel and subsistence Rent Telephone Computer and internet Insurance Bank charges Miscellaneous Independent examination Depreciation, amortisation and other similar costs Grant funding of activities 6 Staff costs 8 |
Unrestricted funds General £ 22,098 503 3,831 5,670 1,148 1,470 881 1,186 87 1,080 955 8,850 7,448 55,207 |
Total 2023 £ 22,098 503 3,831 5,670 1,148 1,470 881 1,186 87 1,080 955 8,850 7,448 55,207 |
Total 2022 £ 2,874 9,671 197 5,445 1,059 247 925 1,132 244 1,080 1,327 1,500 16,896 |
|---|---|---|---|
| 42,597 |
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VOICE IN THE CITY MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)
6 Grant-making
Analysis of grants
| Grants | Grants to institutions 2023 £ 2022 £ 7,000 - |
Grants to individuals 2023 £ 2022 £ 1,850 1,500 |
|---|---|---|
7 Trustees remuneration and expenses
During the year the charity made the following transactions with Trustees:
Monica Claxton
Monica Claxton received remuneration of £4,800 (2022: £4,800) during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
8 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Contracted self-employed |
2023 £ 7,448 - 7,448 |
2022 £ 4,800 12,096 |
|---|---|---|
| 16,896 |
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| Staff Self-employed |
2023 No 1 - 1 |
2022 No 1 1 |
|---|---|---|
| 2 |
No employee received emoluments of more than £60,000 during the year
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VOICE IN THE CITY MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)
9 Tangible fixed assets
| Fixtures & fittings £ Computer equipment £ Cost At 1 January 2023 4,073 4,299 At 31 December 2023 4,073 4,299 Depreciation At 1 January 2023 4,073 3,692 Charge for the year - 607 At 31 December 2023 4,073 4,299 Net book value At 31 December 2023 - - At 31 December 2022 - 607 10 Debtors Prepayments Accrued income 11 Creditors: amounts falling due within one year Other creditors Accruals |
Computer equipment £ 4,299 |
Equipment £ 4,456 |
Total £ 12,828 12,828 10,828 955 11,783 1,045 2,000 2022 £ 881 2,814 |
||
|---|---|---|---|---|---|
| 4,299 | 4,456 | ||||
| 3,692 607 |
3,063 348 |
||||
| 4,299 | 3,411 | ||||
| - | 1,045 | ||||
| 607 | 1,393 | ||||
| 2023 £ 885 3,505 4,390 2023 £ 200 660 860 |
|||||
| 3,695 | |||||
| 2022 £ 369 660 |
|||||
| 1,029 |
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VOICE IN THE CITY MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)
12 Funds
| 12 Funds | ||||
|---|---|---|---|---|
| Unrestricted funds General General Funds Unrestricted funds General General Funds |
Balance at 1 January 2023 £ 357,804 Balance at 1 January 2022 £ 369,828 |
Incoming resources £ 192,261 Incoming resources £ 30,573 |
Resources expended £ (55,207) Resources expended £ (42,597) |
Balance at 31 December 2023 £ 494,858 |
| Balance at 31 December 2022 £ 357,804 |
13 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Unrestricted funds General £ 1,045 494,673 (860) 494,858 Unrestricted funds General £ 2,000 356,833 (1,029) 357,804 |
Total funds at 31 December 2023 £ 1,045 494,673 (860) |
|---|---|---|
| 494,858 | ||
| Total funds at 31 December 2022 £ 2,000 356,833 (1,029) |
||
| 357,804 |
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