REGISTERED CHARITY NUMBER: 1083410
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 January 2021
for Holy Nation Church
Williams & Co Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF
Holy Nation Church
Contents of the Financial Statements for the Year Ended 31 January 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Holy Nation Church
Report of the Trustees for the Year Ended 31 January 2021
The trustees present their report with the financial statements of the charity for the year ended 31 January 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The aim of Holy nation Church is to preach the Gospel and make Jesus Christ known to this world. We seek to fulfill the Great Commission to make disciples of all nations through general church activities and mission work overseas.
ACHIEVEMENT AND PERFORMANCE
How we Fulfill our Charitable Aims
We fulfil our charitable aims by: carrying out street outreaches; regular trips to work with churches abroad for missional work; holding church services, midweek home groups and various other church meetings; running a Discipleship Training Programme; hosting social media accounts and running several social outreaches, such as ministry to the homeless - in effect, these are all the ministries as shown in our AGM presentation!
FINANCIAL REVIEW
Where Money and Funds Came From
Our funding this financial year has predominantly come from Tithes and also Love Offerings given by church members; additionally, 15% of our income came from Gift-Aid contributions. Our income from Tithes and Love Offering have been slightly down on the previous financial year, but this is most likely due to the weeks in which we were unable to hold services due to the Covid lockdown. However, Love Offering expenditure was considerably reduced due to no hall hire expenses for midweek meetings and some Sundays during the lockdown period.
Where / When Money was spent
Most of our Tithes income has been spent on preaching the Gospel, missions and salaries. The bulk of our Love Offering and Gift-Aid income has been used for hall hire and the purchase of necessary equipment for church needs, such as sound equipment. Overall, our accounts remain in a healthy condition and we thank God for all His faithfulness and continued provision for our church.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1083410
Principal address
34 Hervey Close Finchley Central London N3 2HD
Trustees
C Groom J Fernandes Mrs M Samuel M Burgess
Page 1
Holy Nation Church
Report of the Trustees for the Year Ended 31 January 2021
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Williams & Co Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF
Approved by order of the board of trustees on 30 November 2021 and signed on its behalf by:
M Burgess - Trustee
Page 2
Independent Examiner's Report to the Trustees of Holy Nation Church
Independent examiner's report to the trustees of Holy Nation Church
I report to the charity trustees on my examination of the accounts of Holy Nation Church (the Trust) for the year ended 31 January 2021.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust 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 applicable 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.
Paul M Smith FCA Williams & Co Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF
Date: .............................................
Page 3
Holy Nation Church
Statement of Financial Activities for the Year Ended 31 January 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 174,033 EXPENDITURE ON Raising funds 131,231 Charitable activities Retreats and meetings 5,811 Foodbanks and donations 2,068 Evangelism 1,878 Missions 27,126 Other 2,311 Total 170,425 NET INCOME/(EXPENDITURE) 3,608 RECONCILIATION OF FUNDS Total funds brought forward 115,450 TOTAL FUNDS CARRIED FORWARD 119,058 |
2020 Total funds £ 190,608 149,073 14,659 3,510 858 30,056 594 198,750 (8,142) 123,592 115,450 |
|---|---|
The notes form part of these financial statements
Page 4
Holy Nation Church
Balance Sheet 31 January 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 5,330 CURRENT ASSETS Cash at bank 113,728 NET CURRENT ASSETS 113,728 TOTAL ASSETS LESS CURRENT LIABILITIES 119,058 NET ASSETS 119,058 FUNDS 6 Unrestricted funds 119,058 TOTAL FUNDS 119,058 |
2020 Total funds £ 4,113 111,337 |
|---|---|
| 111,337 | |
| 115,450 | |
| 115,450 | |
| 115,450 | |
| 115,450 |
The financial statements were approved by the Board of Trustees and authorised for issue on 30 November 2021 and were signed on its behalf by:
J Fernandes - Trustee
The notes form part of these financial statements
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Holy Nation Church
Notes to the Financial Statements for the Year Ended 31 January 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Sound equipment & furniture - Straight line over 3 years Computer equipment - 50% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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continued...
Holy Nation Church
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
2. TRUSTEES' REMUNERATION AND BENEFITS
| Trustees' salaries Trustees' social security |
2021 £ 19,058 223 19,281 |
2020 £ 18,062 2,526 |
|---|---|---|
| 20,588 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2021 nor for the year ended 31 January 2020.
3. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Trustees Employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Raising funds Charitable activities Retreats and meetings Foodbanks and donations Evangelism Missions Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 2020 2 2 5 6 7 8 Unrestricted fund £ 190,608 149,073 14,659 3,510 858 30,056 594 198,750 (8,142) 123,592 115,450 |
|---|---|
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
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continued...
Holy Nation Church
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
5. TANGIBLE FIXED ASSETS
| COST At 1 February 2020 Additions At 31 January 2021 DEPRECIATION At 1 February 2020 Charge for year At 31 January 2021 NET BOOK VALUE At 31 January 2021 At 31 January 2020 6. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
Sound equipment & furniture £ 8,344 2,218 10,562 4,581 826 5,407 5,155 3,763 At 1.2.20 £ 115,450 115,450 Incoming resources £ 174,033 174,033 At 1.2.19 £ 123,592 123,592 |
Computer equipment Totals £ £ 827 9,171 - 2,218 827 11,389 477 5,058 175 1,001 652 6,059 175 5,330 350 4,113 Net movement At in funds 31.1.21 £ £ 3,608 119,058 3,608 119,058 Resources Movement expended in funds £ £ (170,425) 3,608 (170,425) 3,608 Net movement At in funds 31.1.20 £ £ (8,142) 115,450 (8,142) 115,450 |
|---|---|---|
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continued...
Holy Nation Church
Notes to the Financial Statements - continued for the Year Ended 31 January 2021
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 190,608 190,608 |
Resources Movement expended in funds £ £ (198,750) (8,142) (198,750) (8,142) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.2.19 £ 123,592 123,592 |
Net movement in funds £ (4,534) (4,534) |
At 31.1.21 £ 119,058 |
|---|---|---|---|
| 119,058 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 364,641 364,641 |
Resources Movement expended in funds £ £ (369,175) (4,534) (369,175) (4,534) |
|---|---|---|
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2021.
Page 9
Holy Nation Church
Detailed Statement of Financial Activities for the Year Ended 31 January 2021
| INCOME AND ENDOWMENTS Donations and legacies Tithes Collections Other gifts Total incoming resources EXPENDITURE Raising donations and legacies Trustees' salaries Trustees' social security Wages Social security Hall hire Ministry costs Postage and stationery Sundries Sound equipment Computer equipment Charitable activities Retreats Evangelism Missions Gifts and donations Support costs Governance costs Accountancy fees Total resources expended Net income/(expenditure) |
2021 £ 121,747 7,072 45,214 174,033 174,033 19,058 223 79,876 4,219 14,892 1,683 4,769 5,510 826 175 131,231 5,811 1,878 27,126 2,068 36,883 2,311 170,425 3,608 |
2020 £ 136,290 11,857 42,461 190,608 190,608 18,062 2,526 81,203 2,342 35,153 4,096 1,336 2,685 1,320 350 149,073 14,659 858 30,056 3,510 49,083 594 198,750 (8,142) |
|---|---|---|
This page does not form part of the statutory financial statements
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