2022-12-31-accounts

ISLE OF WIGHT YOUTH FOR CHRIST

Registered Charity No 1078660

ANNUAL REPORT AND ACCOUNTS

for the year ended 31st December 2022

Trustees Report 1 Independent Examiners Report 2 Statement of Financial Activities 3 - 4 Balance Sheet 5 Notes to the Accounts 6 - 8

LE OF WIGHT YOUTH FOR C TRUSTEES REPORT FOR THE PERIOD ENDE Is 1st DEC BER 2022 Iste of Wight Youth for Chnst is a registered thaity, No. 1078660. The registered address is Union Street. NewFrtrt Isle of w￿hl The trustees of the thanty dunng the year lo 31 Dgxmber 2022 were as folb)vts'. Mrs Jane Gnffiths Mr Keith Peters MrAndrew Hughes Mr Benjamin Britton Mr Steve Crago Mrs chnsts.ne Kgne Mr Hugh Wells Objocts To promote the Chnstsan farth and to pr￿￿1M the Gospel of the Lord Jesus Chrfst throughout the world and in particular (but without preJ'udKe to the generalty of the loregoingl in the Isle of Wi9ht and rts environs. To promote and encourage the Christian evangelisab'on of young people throughout the wortd and in particular Ibut ￿thOut prejUd￿e to the generality of the foregoing) in the Isle of Wsht and its environs. To promote and encourage Frf)th Christian INing To relieve poverty and Sickness thereby demonstrating the Gosp&l of Jesus Christ R•vhw of th• Y•ar The ¢hanty operated in accordan(x with its obJ￿ts and c¢ntinues to incxease rts links with the young people of the Isle of Wight During the year the charty made a defrjt of £27.903 compared to a surplus of £8,226 in the year of 2021. Whilst these figures are a disappointment we have been able to increase stsff wages to 8 more realistic level, subsidise a number of trips and weekends to enable more young people lo attend, as Current financial burdens are affethng families, and also financially support one of our ongoing projects. General expenditure has also seen signrficant increases due to the ongoing financial dimale. However. it is good to see that the financial supp)rt we receNe from our supporters still remains in a retatively strong pyJition and il Is hop&J that we will see an increase in 2023. The Tnjstees consider the st of the chartty's affairs to be sabsfathry, Wth the funds of the charity totalling £89.1[￿l2021 = £117,011) Income and Expendltur• The income r￿1Ved by the charity vras made up trom gifts given by churches and olher charitable bc¥Jies along with gifts from pnvate indNiduals. These gffts were gNen by way of Gift AMI and general giving. The Total Income Received. o)mprising of desTrgnated and general fvnds, showed a decrease compared to 2021. Expenditure, as expected, was at a higher ￿Ve1 than that of 2021. Keith V Peters- TruStee￿reasUrer For and on behalf of the Trustees

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ISLE OF WIGHT YOUTH FOR CHRIST

INCOME AND EXPENDITURE ACCOUNT

for the year ended 31st December 2022

INCOMING RESOURCES Youth Trainee Payments Soul Survivor Rock Solid club Other gifts received Weekends Away and Other YFC Events Youth worker Management Fees West Wight Youthworker Project Grants Tax reclaimable 6 Interest received	11,930 1,038 12,968 Designated fund	General fund Total 51,200 4,486 12,768 3,000 6,815 32 78,300 91,268 2022	2021 Total 0 0 0 57,576 2,828 11,349 13,696 15,945 3,591 233 105,219

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INCOME AND EXPENDITURE ACCOUNT (continued)

for the year ended 31st December 2022

RESOURCES EXPENDED Salaries and wages, employees paid from general funds 7 Thrive Printing, postage and stationery DTI Travelling expenses Telephone Premises costs Staff conference expenses: Retreats/general meetings Trainee/year out costs Insurance Repairs and renewals Resource material Publicity Copyright licence Sundries Bank charges Gifts and donations Props, art and décor Supplies Rock Solid Weekends Gunville Youth worker Project (including salaries) ) Ryde Youth worker Project (including salaries) ) 7 West Wight Youth worker Project (including salaries) ) Depreciation NET INCOME OR (EXPENDITURE) Surplus or (deficit) for the year ended 31st December 2022 .	13,678 13,678 (710) Designated fund	General fund Total 61,241 61,241 3,296 3,296 715 715 8,053 8,053 3,302 3,302 671 671 372 372 (168) (168) 69 69 596 596 272 272 612 612 500 500 508 508 811 811 79 79 2,458 2,458 627 627 953 953 7,267 7,267 0 12,934 12,934 13,678 325 325 105,494 119,173 (27,195) (27,905) 2022	2021 Total 52,663 0 1,120 0 1,827 831 168 1,284 6,000 519 1,009 674 0 504 35 0 2,647 256 557 4,160 0 10,782 11,549 407 96,993 8,226

31at tknthr2022 Tkngibk ffixed ats¢ts 1317 7153 7,597 Ctsh * in h•d 108.1 88214 liJ.7 CURREYf IJAB￿nEs CKedittrs vmd NFf CURRENT ASSErs 88214 11J.794 Ef LSSETS at 31st thc•thr2ts21 89.106 THE FUNDS OF THE CHARrrY FundJ held ￿ 31sl Dvxnbtr2022 89.106 23 d *E 5wd th their b￿￿[bY

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ISLE OF WIGHT YOUTH FOR CHRIST

NOTES TO THE ACCOUNTS

for the year ended 31st December 2022

1 ACCOUNTING POLICIES

The financial statements are prepared under the historical cost convention (as modified by the revaluation of certain assets) and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005.

Income

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Cashflow

All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Fixed Assets

Fixed assets are recorded at cost.

Assets gifted to the Youth for Christ are valued at time of receipt and treated as donations. There have been no material donated assets in the last year.

Depreciation is provided at 25% per annum on cost

Taxation

As a registered charity the trustees consider Youth for Christ to be exempt from taxation on its income. The charity carries out no trading activities.

Fund Accounting

Guidance by the Charity Commissioners requires a separation in the accounts between general funds and restricted/designated funds. The designated funds shown in these financial statements relate to the Catalyst Project, Soul Survivor and School Workers Funds. Special gifts are received towards the costs of these projects.

2 TANGIBLE FIXED ASSETS

Cost

At 1st January 2022 Additions/disposals during year At 31st December 2022 Depreciation At 1st January 2022 Charged during year At 31st December 2022 Net Book Value At 31st December 2022 At 31st December 2021	11,677 11,677 10,867 325 11,192 485 810

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ISLE OF WIGHT YOUTH FOR CHRIST

NOTES TO THE ACCOUNTS (continued)

for the year ended 31st December 2022

3 BANK AND CASH

2022 Current accounts 71,522 Catalyst account 26 Tithe account 8,812 80,361 4 DEBTORS 2022 Tax aid recoverable 7,853 West Wight Youth project 7,853 5 CREDITORS AND ACCRUALS 2022 Soul Survivor 0 6 GIFT AID 2022 Gift aid on general donations 6,095 Gift aid on designated donations - Ryde Youthworker 720 Gift aid on designated donations - West Wight Youthworker 1,038 7,853 7 EMPLOYEES 2022 Employees remuneration including National Insurance YFC employees paid from general funds 61,241 YFC Employees paid from designated funds Gunville Youth worker 0 Ryde Youth worker 12,934 West Wight Youth worker 13,678 87,853 Average number of employees engaged during the year 6

2021 98,158 26 10,012 108,197 2021 7,597 0 7,597 2021 0 0 2021 5,657 780 1,160 7,597 2021 52,663 0 10,782 11,549 74,994 6

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NOTES TO THE ACCOUNTS (continued)

for the year ended 31st December 2022

8 FUNDS At 1st January 2022 Surplus or (deficit) for the year Transfer At 31st December 2022	2,552 (710) 1,842 Designated fund	General fund Total 114,458 117,011 (27,195) (27,905) 87,264 89,106

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