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2023-07-31-accounts

REGISTERED COMPANY NUMBER: 04046637 (England and Wales) REGISTERED CHARITY NUMBER: 1083852

FARNBOROUGH CHRISTIAN OUTREACH

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

Shaw Gibbs Limited Wey Court West Union Road Farnham Surrey GU9 7PT

FARNBOROUGH CHRISTIAN OUTREACH

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 July 2023

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 15
Detailed Statement of Financial Activities 16 to 17

FARNBOROUGH CHRISTIAN OUTREACH

REPORT OF THE TRUSTEES for the year ended 31 July 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 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

The Charity's objects are to promote the advancement of Evangelical Christian Causes on an ecumenical basis.

The principal activity of the charity during the year was the running of the Christian Resources Centre known as 'The Triangle', In addition the Charity sponsored and facilitated a number of local events.

PUBLIC BENEFIT

The Charity is of public benefit in the following ways:

ACHIEVEMENT AND PERFORMANCE

Bookshop sales for the year decreased to £81,834 (compared to £84,771 in 2022).

Voluntary income including legacies for the period was higher at £45,022 (compared to £38,733 in 2022). There were no grants received in the current year (2022: £244). The high inflation environment meant expenses and purchases were relatively high with total resources expended of £141,019 (from £134,850 in 2022) meaning there was a net expenditure for the period of £10,764 (2022; net expenditure of £11,102).

The Charity's subsidiary, The Triangle Café Limited had a turnover for the period of £54,849 (compared to £46,129 in 2022). They did not receive any grant income this year and although turnover increased it had not recovered to pre-covid levels resulting in a loss of £14,443(compared to a loss of £10,062 in 2022).

FINANCIAL REVIEW

Principal funding sources

The main sources of income, derive from the sales of Christian literature and media, donations from members and supporters and sales from the subsidiary, the Triangle Café Limited.

Investment policy

Under the memorandum and articles of association, the charity has the power to make any investment which the trustees see fit, after obtaining advice from a financial expert and having regard to the suitability of investments and the need for diversification.

Reserves policy

The General Fund represents the Unrestricted funds arising from the past operating results. It also represents the free reserves of the charity, as all fixed assets are included in the fixed asset fund, which is a designated fund. The general fund balance was £49,571 at 31st July 2023 and the aim of the trustees is to build this up to a balance which represents 3 months of operating expenditure.

Page 1

FARNBOROUGH CHRISTIAN OUTREACH

REPORT OF THE TRUSTEES for the year ended 31 July 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Farnborough Christian Outreach (a company limited by guarantee) was incorporated on 3rd August 2000, and was registered with the Charity Commission for England and Wales on 28th November 2000. On 31st January 2001, all of the assets and liabilities of the Farnborough Christian Outreach Trust (an unincorporated Charity, registered under the charity number 285306) were gifted to Farnborough Christian Outreach.

On 15th December 2000, The Triangle Café Limited (company number 4126321) was incorporated, with the sole issued share being held by Farnborough Christian Outreach. This company carries out the activities of the café situated in the new premises of Farnborough Christian Outreach, to which the charity moved in November 2001.

The company was established under its Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £10.

Appointment and induction of trustees

Trustees are appointed by the members and at each Annual General Meeting, one third of Board Members will retire from office. On retirement, trustees are eligible for re-election. The Articles of Association provides for a minimum of three trustees and no maximum. The trustees are also responsible for the appointment of new members.

New trustees undergo an induction to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision making processes and the recent performance of the charity. They meet key employees and the other trustees.

Organisational policy

The trustees meet every month. The general manager is appointed to manage the day to day operations of the charity. To facilitate effective operations, the general manager has delegated authority, within the terms of delegation approved by the trustees, for operational matters including finance and employment.

Risk assessment policy

The trustees have worked with staff to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

04046637 (England and Wales)

Registered Charity number

1083852

Registered office

64 Kingsmead FARNBOROUGH Hampshire GU14 7SL

Trustees

C M Mason J R D Edwards D R Palmer S M Smith G Dorey

Page 2

FARNBOROUGH CHRISTIAN OUTREACH

REPORT OF THE TRUSTEES for the year ended 31 July 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Shaw Gibbs Limited Wey Court West Union Road Farnham Surrey GU9 7PT

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.......................................................................... C M Mason - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FARNBOROUGH CHRISTIAN OUTREACH

Independent examiner's report to the trustees of Farnborough Christian Outreach ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Lance Redman FCCA FCA

Shaw Gibbs Limited Wey Court West Union Road Farnham Surrey GU9 7PT

Date: .............................................

Page 4

FARNBOROUGH CHRISTIAN OUTREACH

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 July 2023

Unrestricted
Restricted
funds
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
45,022
-
Charitable activities
Bookshop
81,834
-
Other income
-
-
Total
126,856
-
EXPENDITURE ON
Charitable activities
Bookshop
141,009
-
NET INCOME/(EXPENDITURE)
(14,153)
-
RECONCILIATION OF FUNDS
Total funds brought forward
60,158
177
TOTAL FUNDS CARRIED FORWARD
46,005
177
2023
Total
funds
£
45,022
81,834
-
126,856
141,009
(14,153)
60,335
46,182
2022
Total
funds
£
38,735
84,771
244
123,750
134,850
(11,100)
71,435
60,335

The notes form part of these financial statements

Page 5

FARNBOROUGH CHRISTIAN OUTREACH

BALANCE SHEET

31 July 2023

Unrestricted
Restricted
funds
funds
Notes
£
£
FIXED ASSETS
Tangible assets
7
421
-
Investments
8
1
-
422
-
CURRENT ASSETS
Stocks
9
68,747
-
Debtors
10
6,043
-
Cash at bank and in hand
3,843
177
78,633
177
CREDITORS
Amounts falling due within one year
11
(33,050)
-
NET CURRENT ASSETS
45,583
177
TOTAL ASSETS LESS CURRENT
LIABILITIES
46,005
177
NET ASSETS
46,005
177
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS
2023
Total
funds
£
421
1
422
68,747
6,043
4,020
78,810
(33,050)
45,760
46,182
46,182
46,005
177
46,182
2022
Total
funds
£
728
1
729
67,047
10,376
2,951
80,374
(20,768)
59,606
60,335
60,335
60,158
177
60,335

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 6

FARNBOROUGH CHRISTIAN OUTREACH

BALANCE SHEET - continued

31 July 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

C M Mason - Trustee

The notes form part of these financial statements

Page 7

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - Straight line over 20 years Plant and machinery - Straight line over 5 years Fixtures and fittings - Straight line over 6 years

Related party exemption

The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Funds

General unrestricted funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. Funds designated for a particular purpose by the trustees are also unrestricted.

Restricted funds are those subject to specific trusts, which may be declared by the donor or with their authority. The restricted funds of the charity are restricted income funds which are expendable at the discretion of the trustees in furtherance of some particular aspects of the activities of the charity.

continued...

Page 8

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

1. ACCOUNTING POLICIES - continued

Funds

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
Bookshop 3,848
Support costs, included in the above, are as follows:
2023 2022
Total
Bookshop activities
£ £
Legal and professional - 67
Sundries - 90
Independent examiner's fees 3,848 2,652
3,848 2,809
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2023 2022
£ £
Independent examiner's fees 3,848 2,652
Depreciation - owned assets 307 293

3. NET INCOME/(EXPENDITURE)

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.

Trustees' expenses

There were £nil of trustees' expenses paid for the year ended 31st July 2023 (£nil in 2022).

continued...

Page 9

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

Retail and administration
No employees received emoluments in excess of £60,000.
6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
38,735
Charitable activities
Bookshop
84,771
Other income
244
Total
123,750
EXPENDITURE ON
Charitable activities
Bookshop
134,850
NET INCOME/(EXPENDITURE)
(11,100)
RECONCILIATION OF FUNDS
Total funds brought forward
71,258
TOTAL FUNDS CARRIED FORWARD
60,158
2023
2
Restricted
funds
£
-
-
-
-
-
-
177
177
2022
4
Total
funds
£
38,735
84,771
244
123,750
134,850
(11,100)
71,435
60,335

continued...

Page 10

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

7. TANGIBLE FIXED ASSETS

7. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£ £ £ £
COST
At 1 August 2022 and 31 July 2023 85,497 15,867 25,566 126,930
DEPRECIATION
At 1 August 2022 85,497 15,139 25,566 126,202
Charge for year - 307 - 307
At 31 July 2023 85,497 15,446 25,566 126,509
NET BOOK VALUE
At 31 July 2023 - 421 - 421
At 31 July 2022 - 728 - 728
8. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£
MARKET VALUE
At 1 August 2022 and 31 July 2023 1
NET BOOK VALUE
At 31 July 2023 1
At 31 July 2022 1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

The Triangle Cafe Limited

Registered office: Nature of business: Coffee shop

The Triangle Cafe Limited
Registered office:
Nature of business: Coffee shop
%
Class of share: holding
Ordinary 100
2023 2022
£ £
Aggregate capital and reserves (58,220) (47,177)
Loss for the year (11,044) (10,062)

continued...

Page 11

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

9.
STOCKS
Stocks
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
VAT
Prepayments and accrued income
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 12)
Trade creditors
Social security and other taxes
Other creditors
Sundry Creditors
Accruals and deferred income
12.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
13.
LEASING AGREEMENTS
2023
£
68,747
2023
£
10
451
5,582
6,043
2023
£
3,500
17,445
150
151
1,000
10,804
33,050
2023
£
3,500
2022
£
67,047
2022
£
67,047
2022
£
4,149
1,222
5,005
10,376
2022
£
3,500
12,037
156
388
-
4,687
2022
£
4,149
1,222
5,005
20,768
2022
£
3,500

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
2023
£
15,000
2,500
17,500
2022
£
15,000
17,500
32,500

continued...

Page 12

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

14. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.8.22 in funds funds 31.7.23
£ £ £ £
Unrestricted funds
General fund 59,490 (13,767) (164) 45,559
Fixed Asset Fund 668 (386) 164 446
60,158 (14,153) - 46,005
Restricted funds
Buy a bulb 177 - - 177
TOTAL FUNDS 60,335 (14,153) - 46,182
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 126,856 (140,623) (13,767)
Fixed Asset Fund - (386) (386)
126,856 (141,009) (14,153)
TOTAL FUNDS 126,856 (141,009) (14,153)
Comparatives for movement in funds
Net Transfers
movement between At
At 1.8.21 in funds funds 31.7.22
£ £ £ £
Unrestricted funds
General fund 70,377 (10,808) (164) 59,405
Fixed Asset Fund 881 (292) 164 753
71,258 (11,100) - 60,158
Restricted funds
Buy a bulb 177 - - 177
TOTAL FUNDS 71,435 (11,100) - 60,335

continued...

Page 13

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2023

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fixed Asset Fund
TOTAL FUNDS
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
123,749
(134,557)
(10,808)
1
(293)
(292)
123,750
(134,850)
(11,100)
123,750
(134,850)
(11,100)

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.8.21 in funds funds 31.7.23
£ £ £ £
Unrestricted funds
General fund 70,377 (24,575) (328) 45,474
Fixed Asset Fund 881 (678) 328 531
71,258 (25,253) - 46,005
Restricted funds
Buy a bulb 177 - - 177
TOTAL FUNDS 71,435 (25,253) - 46,182

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
Fixed Asset Fund
TOTAL FUNDS
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
250,605
(275,180)
(24,575)
1
(679)
(678)
250,606
(275,859)
(25,253)
250,606
(275,859)
(25,253)

Unrestricted funds

The fixed asset fund is a designated fund and represents the net book value of fixed assets of the charity, for the purpose of freeing reserves that are not available for expenditure. Transfers relate to assets capitalised during the year, and outgoing resources represent depreciation charged during the year.

continued...

Page 14

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 July 2023

14. MOVEMENT IN FUNDS - continued

Restricted Fund

The Buy a Bulb fund is as a result of an appeal to pay for the new LED lights installed in the bookshop to enhance the displays.

15. RELATED PARTY DISCLOSURES

The charity owns the entire share capital of The Triangle Cafe Limited (referred to as the cafe), a limited company registered in England and Wales. This year no management charges (2022: £nil) were passed onto the cafe.

The charity did not receive a management charge from the cafe this financial year (2022: £nil).

At the end of the year, a balance of £60,198 was due from the cafe (2022: £49,773). a provision of £10,426 against this debt has been made in the accounts of Farnborough Christian Outreach (2022: release of provision of £9,288).

Page 15

FARNBOROUGH CHRISTIAN OUTREACH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 July 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations and membership fees
Charitable activities
Bookshop sales
Other income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Rates and water
Insurance
Light and heat
Telephone and internet
Postage and stationery
Advertising
Sundries
Purchases
Rent
Internet expenses
Repairs and maintenance
Dues and subscriptions
Depn plant and machinery
Computer equipment
Bank charges and interest
Credit card commission
Credit card costs
Provision against subsidiary
Support costs
Finance
Legal and professional
Other
Sundries
2023
£
45,022
81,834
-
126,856
16,460
(211)
1,282
19,937
4,381
991
452
220
51,271
14,942
17
14,791
255
307
65
406
788
382
10,425
137,161
-
-
2022
£
38,735
84,771
244
123,750
21,045
622
2,457
9,665
3,704
1,000
372
199
56,525
13,750
-
11,243
407
293
-
378
679
414
9,288
132,041
67
90

This page does not form part of the statutory financial statements

Page 16

FARNBOROUGH CHRISTIAN OUTREACH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 July 2023

Other
Governance costs
Independent examiner's fees
Total resources expended
Net expenditure
2023
£
3,848
141,009
(14,153)
2022
£
2,652
134,850
(11,100)

This page does not form part of the statutory financial statements

Page 17