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
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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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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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continued...
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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continued...
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.
Page 10
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
Page 11