DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
REGISTERED CHARITY NUMBER: 1083410
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 January 2023
for Holy Nation Church
Williams & Co Epsom LLP Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF
DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Contents of the Financial Statements for the Year Ended 31 January 2023
| 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 | 10 |
| Detailed Statement of Financial Activities | 11 |
DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Report of the Trustees for the Year Ended 31 January 2023
The trustees present their report with the financial statements of the charity for the year ended 31 January 2023. 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 primary aim of Holy Nation Church is the advancement of the Christian faith by the furtherance and preaching of the Gospel of Jesus Christ in this world. We seek to fulfil 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: general church activities, such as holding Sunday services, midweek home groups and other meetings; carrying out street outreaches; regular trips to work with churches abroad for missional work; running a Discipleship Training Programme; having frequent prayer meetings; running the Children & Youth Ministry; hosting social media accounts and running several social outreaches, such as ministry to the homeless.
FINANCIAL REVIEW
Where Money and Funds Came From
Our funding this financial year has predominantly come from Tithes payments and additionally from Love Offerings given by church members. In particular, this year, our Tithes income increased by approximately 28% on the previous financial year and totalled about £156,000; our income from Love Offerings also increased by almost 40% on the previous financial year and totalled almost £50,000.
We believe that a large part of the additional income received this year by the Church is due to more Sunday services having been held during this financial year (owing to there being more restrictions on holding services in the previous financial year due to the Covid-19 situation) and this is when most of our Church's income is received.
Overall, our Church continues to remain in a healthy financial position and we thank God for His continued faithfulness and provision.
Where / When Money was spent
The Church's expenditure of income from Tithes has largely been spent on preaching the Gospel, missions, salaries and Church events, such as Encounter weekends.
The majority of our Love Offering and Gift-Aid income has been used for hall hire, Church administrative costs and Church equipment, as well as contributions towards the running of ministries, such as the Worship Ministry and Children & Youth Ministry. In particular, the Church's expenditure on hall hire costs doubled this financial year, again owing to the increase in Sunday services and other Church meetings being held.
In addition, the Church spent a total of approximately £23,000 on overseas mission trips this financial year, of which about 80% came from donations to the Church's Missions fund and the remaining 20% was made through Tithes income.
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
Flat A Napier Hall Hide Place London SW1P 4NJ
Page 1
DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Report of the Trustees for the Year Ended 31 January 2023
Trustees
C Groom J Fernandes Mrs M Samuel M Burgess A Nnanyelugo
Independent Examiner Williams & Co Epsom LLP Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF
Approved by order of the board of trustees on 31 August 2023 and signed on its behalf by:
M Burgess - Trustee
Page 2
DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
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 2023.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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
-
the accounts do not accord with those records; or
-
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
Williams & Co Epsom LLP Chartered Accountants 8-10 South Street Epsom Surrey KT18 7PF
31 August 2023
Page 3
DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Statement of Financial Activities for the Year Ended 31 January 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 418,889 EXPENDITURE ON Raising funds 172,210 Charitable activities Retreats and meetings 32,463 Foodbanks and donations 20,599 Evangelism 1,730 Missions 65,580 Other 7,141 Total 299,723 NET INCOME 119,166 RECONCILIATION OF FUNDS Total funds brought forward 175,847 TOTAL FUNDS CARRIED FORWARD 295,013 |
2022 Total funds £ 310,798 |
|---|---|
| 162,306 18,306 11,036 - 57,658 4,703 |
|
| 254,009 | |
| 56,789 119,058 |
|
| 175,847 |
The notes form part of these financial statements
Page 4
DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Balance Sheet 31 January 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 4,742 CURRENT ASSETS Debtors 6 15,300 Cash at bank 274,971 290,271 NET CURRENT ASSETS 290,271 TOTAL ASSETS LESS CURRENT LIABILITIES 295,013 NET ASSETS 295,013 FUNDS 7 Unrestricted funds 295,013 TOTAL FUNDS 295,013 |
2022 Total funds £ 4,293 6,500 165,054 |
|---|---|
| 171,554 | |
| 171,554 | |
| 175,847 | |
| 175,847 | |
| 175,847 | |
| 175,847 |
The financial statements were approved by the Board of Trustees and authorised for issue on 31 August 2023 and were signed on its behalf by:
J Fernandes - Trustee
The notes form part of these financial statements
Page 5
DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Notes to the Financial Statements for the Year Ended 31 January 2023
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.
2. TRUSTEES' REMUNERATION AND BENEFITS
| Trustees' salaries Trustees' social security |
2023 £ 21,767 - 21,767 |
2022 £ 19,594 309 |
|---|---|---|
| 19,903 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2023 nor for the year ended 31 January 2022.
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DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Notes to the Financial Statements - continued for the Year Ended 31 January 2023
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. 4. 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 Missions Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 2022 2 2 5 5 7 7 Unrestricted fund £ 310,798 162,306 18,306 11,036 57,658 4,703 254,009 56,789 119,058 175,847 |
2023 2022 2 2 5 5 7 7 Unrestricted fund £ 310,798 162,306 18,306 11,036 57,658 4,703 254,009 56,789 119,058 175,847 |
|---|---|---|
| 162,306 18,306 11,036 57,658 4,703 |
||
| 254,009 | ||
| 56,789 119,058 |
||
| 175,847 |
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DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Notes to the Financial Statements - continued for the Year Ended 31 January 2023
5. TANGIBLE FIXED ASSETS
| COST At 1 February 2022 Additions At 31 January 2023 DEPRECIATION At 1 February 2022 Charge for year At 31 January 2023 NET BOOK VALUE At 31 January 2023 At 31 January 2022 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. 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 |
Sound equipment & furniture £ 10,881 772 11,653 7,356 1,238 8,594 3,059 3,525 At 1.2.22 £ 175,847 175,847 Incoming resources £ 418,889 418,889 |
Computer equipment Totals £ £ 1,507 12,388 1,529 2,301 3,036 14,689 739 8,095 614 1,852 1,353 9,947 1,683 4,742 768 4,293 2023 2022 £ £ 15,300 6,500 Net movement At in funds 31.1.23 £ £ 119,166 295,013 119,166 295,013 Resources Movement expended in funds £ £ (299,723) 119,166 (299,723) 119,166 |
Totals £ 12,388 2,301 14,689 8,095 1,852 9,947 4,742 4,293 2022 £ 6,500 At 31.1.23 £ 295,013 |
Totals £ 12,388 2,301 |
|---|---|---|---|---|
| 14,689 | ||||
| 8,095 1,852 |
||||
| 9,947 | ||||
| 4,742 | ||||
| 4,293 | ||||
| 2022 £ 6,500 |
||||
| 295,013 | ||||
| 119,166 |
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DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Notes to the Financial Statements - continued for the Year Ended 31 January 2023
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.2.21 £ Unrestricted funds General fund 119,058 TOTAL FUNDS 119,058 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 310,798 TOTAL FUNDS 310,798 |
Net movement At in funds 31.1.22 £ £ 56,789 175,847 56,789 175,847 Resources Movement expended in funds £ £ (254,009) 56,789 (254,009) 56,789 |
At 31.1.22 £ 175,847 |
|---|---|---|
| 175,847 | ||
| 56,789 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.2.21 £ 119,058 119,058 |
Net movement in funds £ 175,955 175,955 |
At 31.1.23 £ 295,013 |
|---|---|---|---|
| 295,013 |
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 £ 729,687 729,687 |
Resources Movement expended in funds £ £ (553,732) 175,955 (553,732) 175,955 |
Resources Movement expended in funds £ £ (553,732) 175,955 (553,732) 175,955 |
|---|---|---|---|
| 175,955 |
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DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Notes to the Financial Statements - continued for the Year Ended 31 January 2023
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2023.
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DocuSign Envelope ID: 8C0D97BE-4124-40A3-ACA3-E0F09933C492
Holy Nation Church
Detailed Statement of Financial Activities for the Year Ended 31 January 2023
| 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 Other 2 Subscriptions Governance costs Accountancy fees Total resources expended Net income |
2023 £ 179,702 47,521 191,666 418,889 418,889 21,767 - 86,084 - 38,801 7,113 7,266 9,327 1,238 614 172,210 32,463 1,730 65,580 20,599 120,372 2,729 4,412 299,723 119,166 |
2022 £ 156,333 38,044 116,421 |
|---|---|---|
| 310,798 | ||
| 310,798 19,594 309 81,418 5,632 29,650 10,016 5,202 8,449 1,949 87 |
||
| 162,306 18,306 - 57,658 11,036 |
||
| 87,000 2,329 2,374 |
||
| 254,009 | ||
| 56,789 |
This page does not form part of the statutory financial statements
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