## 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 ## _Page 2_ ## 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| |---|---|---|---| ## _Page 3_ ## 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 ## _Page 5_ ## 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| |---|---| _Page 6_ ## 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| |---|---| _Page 7_ ## 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| |---|---|---| |||| _Page 8_