Charity number: 1089232
HOPE LONDON COMMUNITY CHURCH FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021
LUBBOCK FINE LLP Chartered Accountants Paternoster House 65 St Paul's Churchyard London EC4M 8AB
HOPE LONDON COMMUNITY CHURCH
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 16 |
HOPE LONDON COMMUNITY CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2021
| Trustees | Nicholas Laval Law Pak Chong, Chair |
|---|---|
| Sophina Tsang | |
| Andre Kieron Hitchman | |
| William Michael Van Der Byl | |
| Charity registered number 1089232 Principal office 17D Oval Road London NW1 7EA Accountants Lubbock Fine LLP Chartered Accountants & Statutory Auditors Paternoster House 65 St Paul's Churchyard London EC4M 8AB Bankers Barclays Bank Plc 1 North End Road Croydon Surrey CR9 1RN |
Page 1
HOPE LONDON COMMUNITY CHURCH
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present the annual report together with the financial statements of Hope London Community Church (the charity) for the year from 1 January 2021 to 31 December 2021. The Trustees confirm that the Annual Report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP), 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structur e
Hope London Community Church (HLCC), registered as a Charity in November 2001, is governed by its Trust Deed (or, the Constitution) which was adopted on 28 September 2001 and amended on 23 May 2020. The Charity is managed by the Board of Trustees who meet to consider the progress of the Charity and its future direction. The Trustees meet at least once a year.
The trustees who served during the year and since the year end were:
Nicholas Laval Law Pak Chong (Chair) Andre Hitchman Sophina Tsang William Michael Van der Byl (Secretary)
Method of appointment or election of trustees
Trustee appointments are governed by Clause F of the Constitution which states that Trustees shall be elected at the annual general meeting.
Governance and management
The governance structure of the Charity consists of the Pastor, the Executive Committee and the Trustees. The pastor will be the overall spiritual overseer of the Charity and shall provide pastoral leadership and spiritual guidance to the Executive Committee and members. The Executive Committee, as defined by clause G of the Constitution, consists of some senior members and the Pastor. They are responsible for providing pastoral and spiritual guidance and ensuring the continuous improvement of the systems and processes concerned and the overall direction, effectiveness, supervision and accountability of the Charity. The Trustees, as defined by clause F are responsible for the management and administration of matters related to legislative compliance, duty of prudence and duty of care. The management of the Charity is the responsibility of the Board of Trustees, working closely with the Executive Committee. The day-to-day office and administrative functions are managed by the Church Pastor and volunteer administrative staff.
Risk Management
The Trustees conduct their own review of the major risks to which the Charity is exposed and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures for the authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the Charity. These procedures are periodically reviewed to ensure they still meet the needs of the Charity.
Page 2
HOPE LONDON COMMUNITY CHURCH
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
OBJECTIVES AND ACTIVITIES
The objectives of the Charity, as defined by its Constitution, are “for the advancement of the Christian religion, for the advancement of education in the Christian religion and in related subjects, and such other charitable purposes as shall, in the opinion of the executive committee, further the work of the Charity.”
The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Trust’s aims and objectives, and in planning future activities for the year.
HLCC activities are:
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To advance the Christian religion in England and Wales, mainly London.
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To advance the education of the public in the Christian religion.
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The advancement of the Christian religion mainly, but not exclusively, by means of broadcasting the Christian religion messages of an evangelistic and teaching nature.
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To advance the Christian religion for the benefit of the public through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and or distributing literature on the Christian religion to enlighten others about the Christian religion.
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The prevention or relief of poverty by providing items and services to individuals in need.
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We welcome all age group and ethics regardless of personal background, faith, gender or personal circumstances and we believe this philosophy of openness to all enriches everyone through the sharing of our teachings, skills, aptitudes and life experience.
Activities in relation to each of the above during the year:
To achieve the object stated above, the charity had run a weekly Sunday worship service and Life Groups all over London. The charity organised an annual conference, retreats and seminars, which help members to understand Christian principles and develop a closer relationship with other Christians.
In March 2020, the venue was closed due to the legally-imposed COVID-19 pandemic restrictions. For this and the safety of members and visitors, all activities were moved to an appropriate online platform for the remainder of the year. Venue hire has not been charged by St Margaret Lothbury since enforced closure and, as the building did not reopen throughout 2021, this continued to not be charged. In February 2022, Hope London gave notice to end the venue hire agreement with St Margaret Lothbury.
Pandemic-related restrictions also meant that visits to other Christian organisations in Europe and Asia and mission work in the UK and abroad were not possible during 2020 or 2021.
On 12 March 2021, the Trustees were informed that the Executive Committee had decided to pause church service and activities, other than Life Group for a sabbatical year from 15 March 2021 to 31 March 2022. This decision has arisen from a number of factors. Firstly, the Pastor requested a Sabbatical year after over twenty years of service, including ten years as pastor, for rest and spiritual renewal. As there wasn’t currently, in the view of the Committee, sufficient appropriate persons within the leadership to take on all the Pastor's responsibilities and the uncertainty caused by the pandemic, the majority of church activities would be paused for a period of tentatively 12 months on the understanding that the charity continues to operate within the scope of its constitution and continues to fulfil all governance and legal requirements. Secondly, some members of the church have spoken out about their desire to move on from Hope London as a result of changes in circumstances, and also other practical issues. A sabbatical will allow these groups to explore other church options without reservation. During this time of sabbatical year, all members are encouraged to stay closely in smaller groups, (eg. life group or closeknit friends), or have the Pastor and Executive Committee's blessing to explore and be rooted in a local or more suitable church that provides them with spiritual coverings.
A midweek Life Group continued to meet weekly using Zoom and, since late 2021, in person. In November 2021 a second Life Group commenced, meeting weekly in person. Following the conclusion of the sabbatical period in March 2022, Sunday services recommenced; meeting at Basil Jellicoe Hall, Euston.
Page 3
HOPE LONDON COMMUNITY CHURCH
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
Brief History:
Hope London Community Church started in 1998, as part of the Hope International Ministries (HIM) movement, in order to provide an alternative community for diverse groups of people in London. It exists to advance the Christian belief through the education of Christian principles and participation in the community work. HLCC registered as a charity with the Charity Commission in November 2001 and became independent of HIM and its European connection, Hope West Europe (HWE), in 2019, ceasing to make financial contributions to the organisation.
The church also supports other charitable organisations and other churches which pursue similar objectives in UK, European Community and other countries worldwide.
ACHIEVEMENTS AND PERFORMANCE
Meetings of the Council
During the period to 31 December 2021 the trustees held formal meetings once a year.
Meetings of the Executive Committee
During the period to 31 December 2021, the Executive Committee met quarterly.
Funding
During this period, funds have been raised primarily through donations from regular and visiting members of the church congregation. During the sabbatical period donations reduced, but so did expenditure and there were sufficient reserves to cover ongoing costs, e.g. storage of equipment.
Membership of the Church
At the time the majority of activities were paused, there were about 40 people regularly attending church events, i.e. Sunday services and weekly life group meetings. No formal membership process exists, however regular attendees who meet the criteria detailed in Clause E, commit to serve in some capacity in Sunday services or weekly life groups, and wish to be considered such are deemed to be members.
FINANCIAL REVIEW
The Church’s income from donations for the year was £36,581 (2020: £72,218), including Gift Aid claims of £3,389 (2020: £8,658), and bank interest amounted to £54 (2020: £171). The Church’s total income for the year was £36,895 (2020: £72,864). This was primarily received during the first quarter as, because of the sabbatical period, donations reduced over the course of the year with some members who had donated regularly to the church moving on to other churches during the sabbatical period. However, the sabbatical period and inability to conduct the previous level of meetings due to the ongoing pandemic, meant that there was no significant expenditure incurred by the charity during 2021 that could not be covered by incomings and reserves. Total expenditure during the year was £7,282 (2020: £25,430).
Investment policy and performance
The trustees invested the retained funds in a high interest savings account.
Financial risk management objectives and policies
The charity minimises its internal and external risks and improves internal control by the implementation of procedures for authorisation of all financial transactions and projects. By this, it is ensured that consistent quality for all operational aspects of the charity is delivered.
As required by the Charity’s SORP, Hope London Community Church undertook a strategic risk analysis of its activities for the coming year. We recognise that it is our responsibility as charity’s trustees to ensure that such analysis is done in order to identify strategic risks of our activities, to assess the impact of those risks and to take appropriate measures to mitigate the risks involved.
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HOPE LONDON COMMUNITY CHURCH
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
The charity has identified the risks into four main categories: governance and management, operational risk, financial risk and environmental factors. To mitigate risks in terms of the governance and management, there will be a regular review and enforcement of terms and procedures to authorize and approve expenses and payments by all the trustees, especially with regards to individually incurred expenses. For the charity to fulfil its objective, one of the key operational concerns is Sunday venue hire and ad hoc venue hire for special activities since they are the main operating cost. The charity plans to have a regular review of the property fund policies and its account. In terms of financial risks, they are to be mitigated through a monthly review of budgeting and financial situation. In addition, in terms of other environmental risks i.e. regulatory environment, the charity will have a regular review of compliance procedure and allocate a specific staff for this task to cope with more demands on regulatory reporting requirements.
Reserves policy
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the resources expended, which equates to £33,690 to £67,380 in general funds. At this level, the trustees believe that the current activities of the charity would not be harmed in the event of a significant drop in funding. The charity’s reserves have been increasing over the past few years beyond the above mentioned level, as a result of operating surpluses.
The trustees have set up a designated fund for the property expenses i.e. future purchase of the property, and other venue expenses. However, in 2014, the Executive Committee decided to withhold the property purchase idea. Instead, the church focuses more on the mission trip which is the commitment to fulfil the church vision.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
William Michael Van Der Byl (Trustee) 25 October 2022 Date:
Sophina Tsang (Trustee)
Page 5
HOPE LONDON COMMUNITY CHURCH
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
Independent Examiner's Report to the Trustees of Hope London Community Church ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2021.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
26 October 2022 Signed: Dated:
Lee Facey
Lubbock Fine LLP
Chartered Accountants & Statutory Auditors Paternoster House 65 St Paul's Churchyard London EC4M 8AB
Page 6
HOPE LONDON COMMUNITY CHURCH
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
| Note Income from: Donations and legacies 2 Charitable activities 3 Investments 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 36,581 260 54 36,895 7,282 7,282 29,613 376,074 29,613 405,687 |
Total funds 2021 £ 36,581 260 54 36,895 7,282 7,282 29,613 376,074 29,613 405,687 |
Total funds 2020 £ 72,218 560 171 |
|---|---|---|---|
| 72,949 | |||
| 25,430 | |||
| 25,430 | |||
| 47,519 | |||
| 328,555 47,519 |
|||
| 376,074 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 16 form part of these financial statements.
Page 7
HOPE LONDON COMMUNITY CHURCH
BALANCE SHEET
AS AT 31 DECEMBER 2021
| Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total net assets Charity funds Restricted funds 10 Unrestricted funds 10 Total funds |
5,347 403,290 408,637 (2,950) |
2021 £ - 405,687 405,687 - 405,687 405,687 |
13,765 370,068 383,833 (7,759) |
2020 £ - 376,074 |
|---|---|---|---|---|
| 376,074 | ||||
| - 376,074 |
||||
| 376,074 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
William Michael Van Der Byl (Trustee) Date: 25 October 2022
Sophina Tsang (Trustee)
The notes on pages 9 to 16 form part of these financial statements.
Page 8
HOPE LONDON COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Hope London Community Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 Going concern
The charity is in the main reliant upon donations to raise revenue to meet future expenditure. The Trustees consider that it is appropriate to prepare the financial statements on a going concern basis. This is based on the current level of reserves and assumes the charity will be successful in its fundraising activities. The financial statements do not include any adjustments that would result if insufficient funds raised.
1.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Tithes are recognised once they have been pledged to the charity.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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HOPE LONDON COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1. Accounting policies (continued)
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
| Equipment | - 25% per annum on cost |
|---|---|
| Fixtures and fittings | - 25% per annum on cost |
1.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Trade and other creditors are recognised at the settlement amount after any trade discounts received. Accruals are based on the estimated amount to be paid.
1.10 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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HOPE LONDON COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1. Accounting policies (continued)
1.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2. Income from donations and legacies
| Tithes and Offerings Gift aid Total 2020 |
Unrestricted funds 2021 £ 33,192 3,389 36,581 72,218 |
Total funds 2021 £ 33,192 3,389 36,581 72,218 |
Total funds 2020 £ 63,560 8,658 |
|---|---|---|---|
| 72,218 | |||
3. Income from charitable activities
| Hope Fest (Retreat & Conference) Total 2020 |
Unrestricted funds 2021 £ 260 560 |
Total funds 2021 £ 260 560 |
Total funds 2020 £ 560 |
|---|---|---|---|
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HOPE LONDON COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
4. Investment income
| Bank interest receivable - designated funds Bank interest receivable - general funds Total 2020 |
Unrestricted funds 2021 £ 11 43 54 171 |
Total funds 2021 £ 11 43 54 171 |
Total funds 2020 £ - 171 |
|---|---|---|---|
| 171 | |||
5. Analysis of expenditure by activities
| Advancement of Christian Faith Total 2020 Analysis of direct costs Seminar and mission expenses Hall Hire Special activities Sunday expenses Grant payable Total 2021 Total 2020 |
Activities undertaken directly 2021 £ 1,197 18,134 |
Support costs 2021 £ 6,085 7,296 Adv'ment of Christian Faith 2021 £ 494 - 402 301 - 1,197 18,134 |
Total funds 2021 £ 7,282 25,430 Total funds 2021 £ 494 - 402 301 - 1,197 18,134 |
Total funds 2020 £ 25,430 |
|---|---|---|---|---|
| Total funds 2020 £ 3,276 5,575 3,370 913 5,000 |
||||
| 18,134 | ||||
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HOPE LONDON COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
5. Analysis of expenditure by activities (continued)
Analysis of support costs
| Musical supplies Subscriptions Office administration expenses Accountancy fees Independent examination fees (governance) Bank charges Communications and outreach contractor Other Total 2020 |
Adv'ment of Christian Faith 2021 £ - 144 3,278 420 2,100 143 - - 6,085 7,296 |
Total funds 2021 £ - 144 3,278 420 2,100 143 - - 6,085 7,296 |
Total funds 2020 £ 83 - 1,714 840 2,100 134 2,304 121 |
|---|---|---|---|
| 7,296 | |||
Total 2020
The Charity had no employees in the current or prior year and therefore no individual with remuneration amounting to more than £60,000.
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 December 2021, no Trustee expenses have been incurred (2020 - £NIL).
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HOPE LONDON COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
7. Tangible fixed assets
| Cost or valuation At 1 January 2021 At 31 December 2021 Depreciation At 1 January 2021 At 31 December 2021 Net book value At 31 December 2021 At 31 December 2020 8. Debtors Due within one year Other debtors 9. Creditors: Amounts falling due within one year Other creditors Accruals and deferred income Grants accrued - institutional |
Equipment £ 8,432 8,432 8,432 8,432 - - |
Fixtures and fittings £ 12,982 12,982 12,982 12,982 - - 2021 £ 5,347 5,347 2021 £ 430 2,520 - 2,950 |
Total £ 21,414 |
|---|---|---|---|
| 21,414 | |||
| 21,414 | |||
| 21,414 | |||
| - | |||
| - | |||
| 2020 £ 13,765 |
|||
| 13,765 2020 £ 239 2,520 5,000 |
|||
| 7,759 |
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HOPE LONDON COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
10. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Property fund General funds General Funds Total Unrestricted funds Statement of funds - prior year Unrestricted funds Designated funds Property fund General funds General Funds Total Unrestricted funds |
Balance at 1 January 2021 £ 98,216 277,858 376,074 Balance at 1 January 2020 £ 98,131 230,424 328,555 |
Income £ 11 36,884 36,895 Income £ 85 72,864 72,949 |
Expenditure £ - (7,282) (7,282) Expenditure £ - (25,430) (25,430) |
Balance at 31 December 2021 £ 98,227 |
|---|---|---|---|---|
| 307,460 | ||||
| 405,687 | ||||
| Balance at 31 December 2020 £ 98,216 |
||||
| 277,858 | ||||
| 376,074 |
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HOPE LONDON COMMUNITY CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Statement of funds (continued)
The income funds of the charity include the following funds:
Designated funds
The trustees have set up a designated fund for the property expense i.e. future purchase of the property, and other venue expenses. In 2014 the leadership team decided to withhold the property purchase idea in the short term however this remains a long term objective.
11. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 408,637 (2,950) 405,687 |
Total funds 2021 £ 408,637 (2,950) |
|---|---|---|
| 405,687 |
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 383,833 (7,759) 376,074 |
Total funds 2020 £ 383,833 (7,759) |
|---|---|---|
| 376,074 |
12. Related party transactions
Unrestricted donations made by Trustees during the year totalled £1,828 (2020 - £4,650).
13. Post balance sheet events
The leadership of Hope London decided to pause the church services and activities for a sabatical year from 15 March 2021 to 31 March 2022. Following the conclusion of the sabbatical period in March 2022, Sunday services recommenced; meeting at Basil Jellicoe Hall, Euston. In February 2022, Hope London gave notice to end the venue hire agreement with St Margaret Lothbury.
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