2024-07-31-accounts - Farnborough Christian Outreach

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

FARNBOROUGH CHRISTIAN OUTREACH UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

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 2024

		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

FARNBOROUGH CHRISTIAN OUTREACH

REPORT OF THE TRUSTEES

for the year ended 31 July 2024

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 2024. 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:

Provision of literature and other supplies and resources for local Churches and schools;
Supplier of fairly traded goods to the local community, including the local Borough Council;
Employment of special needs people;
Employment of voluntary staff and an active participant in work experience scheme.

ACHIEVEMENT AND PERFORMANCE

Bookshop sales for the year increased to £86,459 (compared to £81,834 in 2023).

Voluntary income including legacies for the period was higher at £46,506 (compared to £45,022 in 2023). There were no grants received in the current year (2023: niil). Expenses remained similar to 2023 with total resources expended of £136,759 (from £141,019 in 2023) meaning there was a net expenditure for the period of £3,737 (2023; net expenditure of £14,153).

The Charity's subsidiary, The Triangle Café Limited had a turnover for the period of £53,188 (compared to £54,849 in 2023). They did not receive any grant income this year and the loss of Wilko has reduced footfall significantly resulting in a loss of £15,122 (compared to a loss of £11,043 in 2023).

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 £42,268 at 31st July 2024 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 2024

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 CHRIS'I'IAN ou"fiiLACH RF.PORT C)F THE TRUSTF.F.S for the ear ei)ded 31 Jul 2024 REFF.RENCTr. ATrID ADMINISTRA'I'IVE DLI I'AILS Independent F,xaTnincr Shaw (iibbs Limited Wcy Coiiri West Uiiion Road Fariiliam Sui'rcy GU9 7PT ApprovLd by order of the board of trust¢¢s oil ..............-... 7&)Ir and signcd oli its behalf by.. C M Mason- TrustL¢ 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 2024.

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:

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
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
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 2024

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 46,507 Charitable activities Bookshop 86,459 Other income 57 Total 133,023 EXPENDITURE ON Charitable activities Bookshop 136,760 NET INCOME/(EXPENDITURE) (3,737) RECONCILIATION OF FUNDS Total funds brought forward 46,005 TOTAL FUNDS CARRIED FORWARD 42,268	Restricted funds £ - - - - - - 177 177	2024 Total funds £ 46,507 86,459 57 133,023 136,760 (3,737) 46,182 42,445	2023 Total funds £ 45,022 81,834 - 126,856 141,009 (14,153) 60,335 46,182

The notes form part of these financial statements

Page 5

FARNBOROUGH CHRISTIAN OUTREACH

BALANCE SHEET

31 July 2024

Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 7 378 - Investments 8 1 - 379 - CURRENT ASSETS Stocks 9 62,012 - Debtors 10 6,914 - Cash at bank and in hand 5,361 177 74,287 177 CREDITORS Amounts falling due within one year 11 (32,398) - NET CURRENT ASSETS 41,889 177 TOTAL ASSETS LESS CURRENT LIABILITIES 42,268 177 NET ASSETS 42,268 177 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS	2024 Total funds £ 378 1 379 62,012 6,914 5,538 74,464 (32,398) 42,066 42,445 42,445 42,268 177 42,445	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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 6

ARNBOROUGH CHRISI'IAN OUTREACH BAI,ANCF. SHF.F.T - continued 31 Jul 2024 Thc5L. financial st<ltLmLnts have bgcii prcpar¢d in accordance with the provi5i0iis applicablc to ¢hdritabl¢ companies subjecl lo the sinall coinpanics regimc. Tli¢ financial slalcmcnts were approved by thc Board of Trnstees and aiithorised for issue and ivere signed on its behalf by: on C M Mason - Truslee The notes form part of these financial statements Page 7

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 July 2024

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.

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

continued...

Page 8

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. SUPPORT COSTS

3.

SUPPORT COSTS
			Governance
			costs
			£
Bookshop			2,800
Support costs, included in the above, are as follows:
	2024		2023
			Total
	Bookshop		activities
	£		£
Independent examiner's fees	2,800		3,848
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
	2024		2023
	£		£
Independent examiner's fees	2,800		3,848
Depreciation - owned assets		336	307

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.

Trustees' expenses

There were £nil of trustees' expenses paid for the year ended 31st July 2024 (£nil in 2023).

5. STAFF COSTS

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

	2024	2023
Retail and administration	2	2

No employees received emoluments in excess of £60,000.

continued...

Page 9

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024

6.	COMPARATIVES FOR THE STATEMENT	COMPARATIVES FOR THE STATEMENT	COMPARATIVES FOR THE STATEMENT	OF FINANCIAL	OF FINANCIAL	ACTIVITIES
						Unrestricted	Restricted			Total
						funds	funds			funds
						£		£		£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies					45,022			-	45,022
	Charitable activities
	Bookshop					81,834			-	81,834
	Total					126,856			-	126,856
	EXPENDITURE ON
	Charitable activities
	Bookshop					141,009			-	141,009
	NET INCOME/(EXPENDITURE)					(14,153)			-	(14,153)
	RECONCILIATION OF FUNDS
	Total funds brought forward					60,158		177		60,335
	TOTAL FUNDS CARRIED FORWARD					46,005		177		46,182
7.	TANGIBLE FIXED ASSETS
		Improvements				Fixtures
		to		Plant and		and	Computer
		property		machinery		fittings	equipment			Totals
		£		£		£	£			£
	COST
	At 1 August 2023	85,497		15,867		25,566		-		126,930
	Additions		-		-	-	293			293
	At 31 July 2024	85,497		15,867		25,566	293			127,223
	DEPRECIATION
	At 1 August 2023	85,497		15,446		25,566		-		126,509
	Charge for year		-		330	-		6		336
	At 31 July 2024	85,497		15,776		25,566		6		126,845
	NET BOOK VALUE
	At 31 July 2024		-		91	-	287			378
	At 31 July 2023		-		421	-		-		421

continued...

Page 10

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024

8. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
	Shares in
	group
	undertaking
	£
MARKET VALUE
At 1 August 2023 and 31 July 2024	1
NET BOOK VALUE
At 31 July 2024	1
At 31 July 2023	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

% Class of share: holding Ordinary 100 Aggregate capital and reserves Loss for the year 9. STOCKS Stocks 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors VAT Prepayments and accrued income	2024 £ (73,343) (15,122) 2024 £ 62,012 2024 £ 234 3,579 3,101 6,914	2023 £ (58,220) (11,044) 2023 £ 68,747 2023 £ 10 451 5,582 6,043

continued...

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FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				2024	2023
				£	£
	Other loans (see note 12)			3,500	3,500
	Trade creditors			15,910	17,445
	Social security and other taxes			933	150
	Other creditors			485	151
	Sundry Creditors			6,550	1,000
	Accruals and deferred income			5,020	10,804
				32,398	33,050
12.	LOANS
	An analysis of the maturity of loans is given below:
				2024	2023
				£	£
	Amounts falling due within one year on demand:
	Other loans			3,500	3,500
13.	LEASING AGREEMENTS
	Minimum lease payments under non-cancellable operating leases fall due as follows:
				2024	2023
				£	£
	Within one year			15,000	15,000
	Between one and five years			2,500	2,500
				17,500	17,500
14.	MOVEMENT IN FUNDS
				Net
				movement	At
		At	1.8.23	in funds	31.7.24
			£	£	£
	Unrestricted funds
	General fund	46,005		(3,737)	42,268
	Restricted funds
	Buy a bulb		177	-	177
	TOTAL FUNDS	46,182		(3,737)	42,445

continued...

Page 12

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
Unrestricted funds
General fund		133,023	(136,760)	(3,737)
TOTAL FUNDS		133,023	(136,760)	(3,737)
Comparatives for 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

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 £ £ £ 126,856 (140,623) (13,767) - (386) (386) 126,856 (141,009) (14,153) 126,856 (141,009) (14,153)

continued...

Page 13

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 July 2024

14. MOVEMENT IN FUNDS - continued

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

		Net	Transfers
		movement	between	At
	At 1.8.22	in funds	funds	31.7.24
	£	£	£	£
Unrestricted funds
General fund	59,490	(17,504)	(164)	41,822
Fixed Asset Fund	668	(386)	164	446
	60,158	(17,890)	-	42,268
Restricted funds
Buy a bulb	177	-	-	177
TOTAL FUNDS	60,335	(17,890)	-	42,445

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 £ £ £ 259,879 (277,383) (17,504) - (386) (386) 259,879 (277,769) (17,890) 259,879 (277,769) (17,890)

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.

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.

continued...

Page 14

FARNBOROUGH CHRISTIAN OUTREACH

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 July 2024

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 (2023: £nil) were passed onto the cafe.

The charity did not receive a management charge from the cafe this financial year (2023: £nil).

At the end of the year, a balance of £71,948 was due from the cafe (2023: £60,198). a provision of £15,122 against this debt has been made in the accounts of Farnborough Christian Outreach (2023: release of provision of £10,425).

Page 15

FARNBOROUGH CHRISTIAN OUTREACH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 July 2024
2024
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations and membership fees
46,507
Charitable activities
Bookshop sales
86,459
Other income
Other income
57
Total incoming resources
133,023
EXPENDITURE
Charitable activities
Wages
16,286
Pensions
1,194
Rates and water
(319)
Insurance
2,692
Light and heat
12,359
Telephone and internet
3,638
Postage and stationery
1,152
Advertising
400
Sundries
108
Purchases
54,242
Rent
12,996
Internet expenses
763
Repairs and maintenance
15,765
Dues and subscriptions
255
Depn plant and machinery
330
Depn fixtures and fittings
6
Computer equipment
-
Bank charges and interest
405
Credit card commission
-
Credit card costs
644
Provision against subsidiary
11,044
133,960
Support costs
Governance costs
Independent examiner's fees
2,800
Total resources expended
136,760
Net expenditure
(3,737)

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
3,848
141,009
(14,153)

This page does not form part of the statutory financial statements

Page 16