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2023-12-31-accounts

ISLE OF WIGHT YOUTH FOR CHRIST

Registered Charity No 1078660

ANNUAL REPORT AND ACCOUNTS

for the year ended 31st December 2023

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

ISLE OF WIGHT YOUTH FOR CHRIST

Independent examiner's Report to the Trustees of Isle of Wight Youth for Christ

I report on the accounts of the charity for the year ended 31st December 2022 which are set out on pages 3 to 7

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below

Independent examiner's statement

In the course of my examination, no matter has come to my attention:

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Rob Holgate

1 Ashleigh Cottages Niton IOW

ISLE OF WIGHT YOUTH FOR CHRIST TRUSTEES REPORT FOR THE PERIOD ENDED 31st DECEMBER 2023 Isle of Wight Youth for Christ is a registered charity, No. 1078660. The registered address is Union Street, Newport, Isle of Wight. The trustees of the charity during the year to 31st December 2023 were as follows. Mrs Jane Grtffiths Mr Keith Peters Mr Andrew Hughes Mr Benjamin Britton Mr Steve Crago Mrs Christine Kane Mr Hugh Wells Objects To promote the Christian faith and to proclaim the Gospel of the Lord Jesus Christ throughout the world and in particular (but without prejudice to the generality of the foregoing) in the Isle of Wight and its environs. To promote and encourage the Christian evangelisation of young people throughout the world and in particular (but without prejudice to the generality of the foregoing) in the Isle of Wight and its environs. To promote and encourage positive Christian living. To relieve poverty and sickness thereby demonstrating the Gospel of Jesus Christ. Revlew of the Year The charity operated in accordance with its objects and continues to increase its links with the young people of the Isle of Wight. During the year the charity made a deficit of £17,238 compared to a def￿1t of £27,903 in the year of 2022. Whilst these figures are a disappointment we have been able to maintain realistic wages for stsff and continue to subsidise a number of trips and weekends to enable more young people to attend, as current financial burdens continue to affect families, and also financially support one of our ongoing projects. General expenditure has seen significant increases due to the ongoing financial climate and the continued and increased subsidy amounts given to trips and events. However, it is good to see that the financial support we re￿1ve from our supporters still remains in a relatively strong position and it is hoped that we will see an increase in 2024. The Trustees consider the stste of the charity's affairs to be satisfactory, with the funds of the charity totalling £71.868 (2022 = £89,106) Income and Expendlture The income received by the charity was made up from gifts given by churches and other charitable bodies along with gifts from private individuals. These gifts were given by way of Gift Aid and general giving. The Totsl Income Received, comprising of designated and general funds, showed an increase compared to 2022. Expenditure. as expected, was also at a higher level than that of 2022. Date... 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 2023

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		 17,694
994
18,688
Designated fund		 General fund
Total
0
0
0
68,967
68,967
4,535
4,535
16,821
16,821
17,694
0
6,387
7,381
54
54
96,763
115,451
2023		 2022
Total
0
0
0
51,200
4,486
12,768
11,930
3,000
7,853
32
91,268

Page 3

INCOME AND EXPENDITURE ACCOUNT (continued)

for the year ended 31st December 2023

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 & Other Events
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
.		 15,353
15,353
3,335
Designated fund		 General fund
Total
61,394
61,394
3,350
3,350
618
618
12,064
12,064
4,363
4,363
771
771
372
372
929
929
87
87
695
695
180
180
679
679
0
550
550
0
20
20
3,703
3,703
301
301
1,481
1,481
11,319
11,319
0
14,221
14,221
15,353
240
240
117,336
132,689
(20,573)
(17,238)
2023		 2022
Total
61,241
3,296
715
8,053
3,302
671
372
(168)
69
596
272
612
500
508
811
79
2,458
627
953
7,267
0
12,934
13,678
325
119,173
(27,905)

Poge 4 ISIE OF WEGHT YoufH FOR CHRJST BALANCE SHEET ay at 315t Dcccmbcr 2023 FIXED ASSETS Tangible fL￿￿ assets 652 X92 CURRENT ASSETS Debtors and prepaJinents 7.381 7.853 C&sh at bank and in hand 63,835 80J61 71.216 88,214 CUBJiENT LIABLLITIES Creditors and ac¢TualB NET CuRR￿￿r ASSETS 71,216 88.214 NET ASSETS at Ils¢ December 2023 71,868 89,106 THE FUNDS OF THE CIIARITY Funds held at 3 1st December 2023 71,868 89.106 The fin￿¢18] statements wtrt tpproved by the Trustees on and are signed on their behalf by Trustees

Page 5

ISLE OF WIGHT YOUTH FOR CHRIST

NOTES TO THE ACCOUNTS

for the year ended 31st December 2023

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 2023
Additions/disposals during year
At 31st December 2023
Depreciation
At 1st January 2023
Charged during year
At 31st December 2023
Net Book Value
At 31st December 2023
At 31st December 2022		 12,084
12,084
11,192
240
11,432
652
892

Page 6

ISLE OF WIGHT YOUTH FOR CHRIST

NOTES TO THE ACCOUNTS (continued)

for the year ended 31st December 2023

3 BANK AND CASH

2023
Current accounts
57,247
Catalyst account
26
Tithe account
6,562
63,835
4
DEBTORS
2023
Tax aid recoverable
7,381
West Wight Youth project
0
7,381
5
CREDITORS AND ACCRUALS
2023
Soul Survivor
0
0
6
GIFT AID
2023
Gift aid on general donations
5,657
Gift aid on designated donations - Ryde Youthworker
730
Gift aid on designated donations - West Wight Youthworker
994
7,381
7
EMPLOYEES
2023
Employees remuneration including National Insurance
YFC employees paid from general funds
61,394
YFC Employees paid from designated funds
Gunville Youth worker
0
Ryde Youth worker
14,221
West Wight Youth worker
15,353
90,968
Average number of employees engaged during the year
6		 2022
71,522
26
8,812
80,361
2022
7,853
0
7,853
2022
0
0
2022
6,095
720
1,038
7,853
2022
61,241
0
12,934
13,678
87,853
6

Page 7

NOTES TO THE ACCOUNTS (continued)

for the year ended 31st December 2023

8
FUNDS
At 1st January 2023
Surplus or (deficit) for the year
Transfer
At 31st December 2023		 1,842
3,335
5,177
Designated fund		 General fund
Total
87,264
89,106
(20,573)
(17,238)
66,691
71,868

Page 8