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2020-08-31-accounts

Company number: 4255893 Charity number: 1099412

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Ichthus Christian Fellowship
(A charity company limited by guarantee, company number 4255893, charity number 1099412)
Audited Financial Statements
and
Trustees' Report
for the year ended 31 August 2020
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AT Ichthus Christian Fellowship

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

Index to the Financial Statements for the year ended 31 August 2020

Page
Index to the Financial Statements 2
Charitable Company Information 3
Trustees' Report 4 - 7
Statement of Trustees' Responsibilities 8
Independent Auditor's Report 9 - 10
Statement of Financial Activities 11
Statement of Financial Postion 12
Statement of Cash Flows 13
Accounting Policies 14 - 15
Notes to the Financial Statements 16 - 21

Page 2

AT Ichthus Christian Fellowship

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

Charitable Company Information

for the year ended 31 August 2020

Status: Ichthus Christian Fellowship is a company limited by guarantee and a registered charity Ichthus Christian Fellowship is a company limited by guarantee and a registered charity
governed by its memorandum and articles of association. The directors of the charity are
its trustees for the purposes of charity law and throughout this report are collectively
referred to as the trustees.
Charity name: Ichthus Christian Fellowship
Company registration number: 4255893
England & Wales
Charity registration number: 1099412
Registered office: 118 Perry Vale
London SE23 2LQ
Business address: PO Box 74253
London SE23 9EL
Trustees who held office James William Chapman
during the year: Faith Forster
Roger Thomas Forster
Robert John Dunnett George
David Frederick Higgins Pharoah
David Jules Steinegger
Sarah Caroline Larkin - appointed 7 January 2021
Chairperson: Robert John Dunnett George
Senior Statutory Auditor: Anthony Armstrong FCA
Armstrong & Co
Chartered Accountants & Statutory Auditor
4a Printing House Yard
Hackney Road
London E2 7PR
Solicitors: Grant Saw
Norman House
110 - 114 Norman Road
London SE10 9EH
Bankers: Barclays Bank plc
PO Box 303
Lewisham
London SE13 6BU

Page 3

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

AT Ichthus Christian Fellowship

Trustees' Report, incorporating the Directors' Report

for the year ended 31 August 2020

INTRODUCTION

The Board of Trustees (who are also directors of the charity for the purposes of the Companies Act) submits their annual report and audited financial statement for the year ended 31 August 2020.

The Trustees confirm that the Annual Report and Financial Statements of the charity comply with current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (Charities SORP FRS102) "Accounting and Reporting by Charities" issued in 2015.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Ichthus Christian Fellowship is a company limited by guarantee, incorporated on 20 July 2001 and registered as a charity on 12 September 2003. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each.

Trustees

The Trustees of the charity who held office during the year are disclosed on page 3.

The Board of Trustees is responsible for the appointment of new Trustees and the charity has a policy and procedure relating to the eligibility of prospective Trustees. Under the requirements of the Memorandum and Articles of Association, one third of the board must resign each year. All Trustees are members of a church congregation or link church during their period of service and as such, are committed to the aims and objects of the charity. Mission, pastoral, accountancy, medical and management skills are represented on the Board of Trustees during the period covered by this report. In the event that new Trustees are required, individuals will be approached to offer themselves for election, subject to the provisions of the eligibility policy/procedure. At present, there are no formal policies or procedures in place relating to the induction and training of Trustees, as training and induction is done on a case by case basis.

Organisational Structure of the Trust

The Fellowship is led by Roger and Faith Forster, supported by the leaders of the individual congregations that make up the Trust. They take spiritual responsibility for the life and work of the Fellowship. The Trustees hold the legal responsibility for the work of the Fellowship and make decisions in conjunction with the spiritual leadership. A Ministry and Management group has been appointed by Roger and Faith Forster, in consultation with the Trustees and congregation leaders, to provide executive support for the work of the Trust.

A Finance Group exists to support the Trustees, and Ministry and Management group, in relation to finances and ad-hoc financial issues.

Policies and Procedures

The charity has policies in place including health and safety, equal opportunities, safeguarding, social media policy, and disciplinary and grievance procedures.

The Trust has in place a Disaster Recovery Plan with sensitive and critical data daily backed up and securely stored offsite.

The Trustees are currently undertaking a review of governance policies.

OBJECTIVES AND ACTIVITIES

Charitable Objects

To promote and advance the Christian faith throughout the world generally, including by the worship of God, the instruction and edification of Christians, the care and Christian instruction of young people and children, and the sharing of the gospel of Christ with all people. Specific objects include:

PRINCIPAL ACTIVITY, ACHIEVEMENTS, PERFORMANCE AND PUBLIC BENEFIT

Principal activity

The principal activity of the charity for the period under review was that of furthering the charitable objectives referred to above.

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

AT Ichthus Christian Fellowship

Trustees' Report, incorporating the Directors' Report

for the year ended 31 August 2020

Public Benefit

The charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities, summarised below, provide benefit to those who consider themselves to be members of the Ichthus congregations, members of Link Congregations and the wider community, in this country and abroad.

Religious Activities

Meetings, events and religious activities were severely impacted from March 2020 due to the government lockdown. Many activities of the fellowship were stopped or had to switch to online platforms, as detailed below. In the circumstances, the transition to online services worked reasonably well and enabled some of the fellowship activities to continue.

Regular public meetings: in normal times the congregations which form part of the Trust hold regular Sunday morning meetings, which include prayer, worship and preaching. All these meetings are open to the members of the congregations and to the wider public. From 15th March 2020 in-person meetings were suspended and switched to online for the rest of the financial year.

Pastoral work: the employees of the Trust and those associated with it provide pastoral care and prayer ministry to members of the congregations and others from outside the Trust.

Regular times of prayer: the Trust holds regular times of prayer, including weekly prayer community meetings, a monthly time to pray for the nations of the world; a monthly prayer day to pray for this nation, the nations of the world, the activities of the Trust and other related matters; and congregational prayer times to pray for the activities of the congregations and their local communities. In addition, employees of the Trust regularly meet to pray for the activities of the Trust and the local communities in which they are working; and the Trust holds a 3 day worship, prayer and fasting conference each year, during which the delegates pray over issues of local, national and international concern. This was able to go ahead in early March 2020 before lockdown. The Prayer Community and other Ichthus prayer meetings switched to online from March 2020 until the end of the financial year.

Ichthus House: the Trust owns a building which is used to run training courses in Christian Leadership and other aspects of the Christian faith.

Prayer House: the Trust also owns a building which is used for prayer and in addition currently houses the administrative offices.

Link Churches and Leaders Conference: the Trust provides support and encouragement to other churches that are linked to it. It also runs a conference for church leaders, which includes worship, prayer, teaching and encouragement for those who attend, which in turn, provides support to the wider church in this country and abroad. The annual leaders conference was able to go ahead in January 2020 before lockdown, and this was well received and well attended.

Revive!: the Trust organizes a week long summer camp each year which is open to all and regularly attracts participants who are not otherwise involved with the Trust. There is a comprehensive programme of worship, prayer, preaching and teaching for children, young people and adults; an opportunity for new believers to be baptised; a sports programme and the opportunity for people to enjoy a reasonably priced holiday in beautiful surroundings. Revive! 2020 was unable to go ahead due to the Coronavirus Pandemic, so a 3-day Revive Online event was streamed and was well received. It is hoped that Revive! 2021 can go ahead.

Ecumenism: the Trust encourages participation by the employees or those associated with the Trust in various groups aimed at building unity within Christian communities in different London boroughs and wider afield.

A Website: www.ichthus.org.uk includes a substantial amount of teaching about the Christian religion much of which is available for free download. During this year one of our achievements was launching a new website on 31st May 2020 to co-incide with the launch of our Little Bit of Love online mission.

Media: the Trust funds a media department, which records teaching generated by the Trust about the Christian religion and makes it and other written materials, available for sale at reasonable prices, and many for free.

Christian teaching for children and young people: the Trust supports this regularly at Sunday morning and evening meetings, and at other times during the week. This also occurs during school holiday periods. These activities are open to all local children whether or not their parents are members of a church congregation.

Regular evangelism: the Trust organizes regular events which are designed to increase awareness of the Christian religion, and at which we talk and pray with local people, always respecting fully those who do not wish to engage with us in this way. From

Bible School: the Trust holds a monthly teaching session at which particular Bible passage and themes are explored in depth. From April 2020 this was held online through Zoom webinars. There was a large uptake with over 125 households tuning in for the first online session. As a result, extra sessions in the months of May, June and July 2020 were held.

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

AT Ichthus Christian Fellowship

Trustees' Report, incorporating the Directors' Report

for the year ended 31 August 2020

Worldwide: the Trust provides financial and other support (including an annual conference) for those who are seeking to advance the Christian faith around the world.

Community Activities and Activities to Relieve Poverty

Community events: the Trust facilitates regular events aimed at being a blessing to the local community in which the congregations meet, including handing out free tea and coffee, and talking and praying with people; holding barbecues and

through the provision of meals. Throughout the Covid crisis this has continued using a take-away or delivery service, and in fact demand for food services and provision to those in need has hugely increased since March 2020 when Covid restrictions impacted people.

Schools work: employees and those associated with the Trust offer their services free to local schools to conduct assemblies, and other Christian-related activities.

Giving: the Trust gives support regularly to those in need around the world. Whilst the Fellowship does not set out to be a grantmaking Trust, we are on occasion able to provide financial support to other projects with similar aims to our own, where resources allow and it is in accord with our objectives.

Supporting communities: employees and those associated with the Trust have visited projects and communities in the developing world to provide prayer, support and Christian teaching.

Volunteers: the charity benefits from the assistance of numerous volunteers, in relation to events such as Revive! , and in the day to day running of the congregations which form part of the Trust and in acts of service to the local community.

Other notes

Measure of Success

individuals. To a needy person, whether financially, emotionally or spiritually, in this country or abroad, the benefit of the love, care and sacrifice provided by the individuals funded by the Trust is incalculable. However, some indicators of success are:

Covid-19

In line with Government social distancing requirements, and restrictions on public gatherings, the Trust made adjustments to services from 15th March 2020 ~~—~~ moving to online church services, prayer meetings and teaching sessions ~~.~~ Office staff and congregational leaders were moved to working from home wherever possible, and all governance and management meetings were also held online.

Congregation activities and in-person meetings were re-started in October 2020, but the second lockdown in November 2020, and the third lockdown in January 2021, again meant that meetings and activities had to return to online platforms.

Although this Trustees Annual Report only dates to 31st August 2020, at the time of writing this report, the full financial implications of Covid are still unknown, due to the prolonged nature of the Covid crisis. It is yet unclear what the financial impact of holding Revive 2021 will be, but trustees consider the current financial reserves position of the Trust to be more than adequate for the

practices.

FINANCIAL REVIEW

Results for the year

The results of the period and financial position of the charity are shown in the annexed financial statements.

The Statement of Financial Activities shows an increase in funds for the year of £8,995, which the trustees are very grateful for, given the considerable financial challenges that the Covid Pandemic has brought on the country and the world. The income for the year of £940,298 was significantly lower than prior year, in large part, due to a significant legacy received in the prior year and also the impact of not holding Revive! 2020 but the expenditure was also less as a result, and the overall position for the year was a small surplus of £8,995. The balance sheet remains strong and total charitable funds amount to £3,331,965, including property designated funds of £1,728,463. The high cash level reflects the sale of the Trust's main office several years ago.

Tangible fixed assets for use by the charity.

Fixed assets are set out in Note 10 to the accounts.

Reserves Policy

The Trustees consider that a policy of holding a minimum of 4 months operational expenditure as a general reserve is appropriate for the charity.

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

AT Ichthus Christian Fellowship

Trustees' Report, incorporating the Directors' Report

for the year ended 31 August 2020

Plans for future periods

The Trustees wish to continue to pursue the aims and objectives set out above.

Senior Statutory Auditor

The statutory auditor, A D Armstrong FCA of Armstrong & Co, has indicated his willingness to be proposed for re-appointment in accordance with Section 485 of the Companies Act 2006.

not required under the Companies Act. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The Trustees acknowledge and confirm their responsibilities for preparing the financial statements and providing appropriate information to the auditors as detailed in the Statement of Trustees' Responsibilities set out on page 8.

The financial statements were approved by the Board of Trustees on 20 May 2021 and signed on its behalf by:

David Frederick Higgins Pharoah, Trustee

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

AT Ichthus Christian Fellowship

Statement of Trustees' Responsibilities for the year ended 31 August 2020

The Trustees (who are the Directors of Ichthus Christian Fellowship for the purpose of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of its incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and charity legislation. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the Trustees are aware, there is no relevant audit information of which the charitable company's auditor is unaware, and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

AT Ichthus Christian Fellowship

Independent Auditor's Report to the Members of Ichthus Christian Fellowship

We have audited the financial statements of Ichthus Christian Fellowship for the year ended 31 August 2020 which comprise the Statement of Financial Activities, Statement of Financial Postion, Statement of Cash Flows and the Notes to the Financial Statements to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in Note 2 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information in the annual report, but does not include the financial statements and our report of the auditors thereon. The Trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

AT Ichthus Christian Fellowship

Independent Auditor's Report to the Members of Ichthus Christian Fellowship

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report included within the Trustees' report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities set out on page 8, the Trustees (who are also the Directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Anthony Armstrong FCA (Senior statutory auditor) for and on behalf of Armstrong & Co, Statutory Auditor Chartered Accountants & Statutory Auditor Dated: 20 May 2021

4a Printing House Yard Hackney Road London E2 7PR

Page 10

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

FS Ichthus Christian Fellowship

Statement of Financial Activities

incorporating the income and expenditure account for the year ended 31 August 2020

2020
2019
Unrestricted
Funds
Restricted
Funds
Total Funds
Total Funds
Notes
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Other sources
6		 £
£
£
£
684,243
182,956
867,199
1,159,053
33,522
106
33,628
130,828
15,245
-
15,245
7,554
23,609
617
24,226
75,077
Total income 756,619
183,679
940,298
1,372,512
Expenditure on:
Charitable activities
7		 741,641
177,483
919,124
1,070,774
Total expenditure 741,641
177,483
919,124
1,070,774
Net income/(expenditure)
Net gains/(losses) on investments
11		 14,978
6,196
21,174
301,738
-
(12,179)
(12,179)
(8,938)
Net income/(expenditure) and movement in funds
Transfers between funds
21		 14,978
(5,983)
8,995
292,800
(29,353)
29,353
-
-
Net movement in funds
Reconciliation of funds:
Total funds brought forward
15		 (14,375)
23,370
8,995
292,800
3,145,511
177,459
3,322,970
3,030,170
Total funds carried forward
15		 3,131,136
200,829
3,331,965
3,322,970

All incoming resources and resources expended are derived from continuing activities. There are no gains and losses other than those noted above and therefore no separate statement of total recognised gains and losses has been prepared. The statement of financial activities incorporates an income and expenditure account. The accompanying accounting policies and notes form an integral part of these financial statements.

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

Ichthus Christian Fellowship

Statement of Financial Postion

as at 31 August 2020

31 August 2020 ust 2020 31 August 2019 ust 2019
Notes
Fixed assets:
Tangible assets
10
Investments
11		 £ £
1,712,539
4,514		 £ £
1,730,466
16,693
Total fixed assets
Current assets:
Stocks
12
Debtors
13
Cash at bank and In hand
-		 2,895
24,559
1,639,676		 1,717,053 4,399
61,733
1,587,035		 1,747,159
Total current assets
14
Creditors: amounts falling due within one year		 1,667,130
52,219		 1,653,167
77,356
Net current assets/(liabilities) 1,614,911 1,575,811
Total net assets 3,331,965 3,322,970
The funds of the charity:
Restricted income funds
19
Unrestricted funds
15		 200,829
3,131,136		 177,459
3,145,511
Total charity funds
15		 3,331,965 3,322,970

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard 102.

The financial statements were approved by the Board of Trustees on 20 May 2021 and signed on its behalf by:

David Frederick Higgins Pharoah Trustee

The notes on pages 14 to 21 form part of these accounts.

Page 12

Ichthus Christian Fellowship

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

Statement of Cash Flows

for the year ended 31 August 2020

Notes
Cash flows from operating activities:
Net cash provided by/(used in) operating activities
1		 2020
£
52,062		 2019
£
279,086
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment		 15,245
(14,666)		 7,554
(109,250)
Net cash provided by/(used in) investing activities 579 (101,696)
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
2		 52,641
1,587,035		 177,390
1,409,645
Cash and cash equivalents at the end of the reporting period
2
Notes to the Cash Flow Statement		 1,639,676
2020		 1,587,035
2019
1)
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Dividends, interest and rents from investments
(Increase)/decrease in stocks and work in progress
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Reconciliation of net income/(expenditure) to net cash flow from
operating activities
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)		 £
8,995
32,593
12,179
(15,245)
1,504
37,174
(25,137)		 £
292,800
29,375
8,938
(7,554)
(1,296)
(41,299)
(1,878)
Net cash provided by/(used in) operating activities 52,062 279,086
2)
Analysis of cash and cash equivalents
Cash in hand		 2020
£
1,639,676		 2019
£
1,587,035
Total cash and cash equivalents 1,639,676 1,587,035

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

Ichthus Christian Fellowship

Accounting Policies

for the year ended 31 August 2020

Basis of preparation

The financial statements have been prepared in accordance with:

Public benefit entity

The charitable company meets the defination of a public benefit entity under FRS 102.

Going concern

There are no material uncertainties about the likelihood that this support will continue,and accordingly, the accounts have been prepared on a going concern basis.

The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period in which the tax reclaim is submitted to HMRC. Grant income is recognised on a receivable basis.

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 bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate. Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations.

of the Trustees. These include grants payable, governance costs and an apportionment of support costs.

Deferred income

Income received which is contractually or otherwise not expendable until a future period is deferred to the period in which it meets the criteria for income recognition.

Restricted Funds

Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure which meets these criteria are identified to the fund together with a fair allocation of other costs.

Unrestricted Funds

Unrestricted funds are funds received which have no restrictions placed on their use and are available as general funds.

Designated Funds

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

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.

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

Ichthus Christian Fellowship

Accounting Policies

for the year ended 31 August 2020

Pensions

The charity operates defined contribution schemes which are administered by outside independent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activities.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost
Motor vehicles - 25% on cost
Furniture & fixtures - 20% - 25% on cost

Items of equipment are only capitalised where the purchase price exceeds £1,000.

Investments

Investments are shown in the balance sheet at closing market value. Surpluses or deficits on valuation are credited or charged to the statement of financial activities.

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. The cost of stock is made up of the direct cost of printing and collating only.

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(A charity company limited by guarantee, company number 4255893, charity number 1099412)

F Ichthus Christian Fellowship

Notes to the Financial Statements for the year ended 31 August 2020

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charity.

2 Net incoming resources 2020 2019
Net incoming resources are stated after charging: £ £
Auditors fees - statutory audit services 4,800 4,800
Auditors fees - other services 1,700 2,200
Depreciation - owned assets 32,593 29,375
Trustees' emoluments - -

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All Trustees serve in a voluntary capacity and do not receive payment for their services.

FRC Ethical Standard - Provisions available for small entities

In common with many other charities of our size and nature we use our auditors to assist with the preparation of the financial statements and to provide advice relating to statutory and regulatory compliance.

Income from donations and legacies
Congregations
Training & Ministry
Missions
Property
Legacies
Grants		 2020
2019
Unrestricted
Restricted
Total
Total
£
£
£
£
591,955
21,048
613,003
586,715
67,468
1,152
68,620
101,876
-
157,896
157,896
93,912
-
-
-
46,556
24,820
-
24,820
326,164
-
2,860
2,860
3,830
684,243
182,956
867,199
1,159,053
Income from charitable activities
Congregations
Training & Ministry		 2020
2019
Unrestricted
Restricted
Total
Total
£
£
£
£
4,344
-
4,344
2,211
29,178
106
29,284
128,617
33,522
106
33,628
130,828
Income from investments
Training & Ministry		 2020
2019
Unrestricted
Restricted
Total
Total
£
£
£
£
15,245
-
15,245
7,554
15,245
-
15,245
7,554
Other sources
Congregations
Training & Ministry
Missions		 2020
2019
Unrestricted
Restricted
Total
Total
£
£
£
£
11,869
572
12,441
32,982
11,740
-
11,740
37,726
-
45
45
4,369
23,609
617
24,226
75,077

Page 16

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

F Ichthus Christian Fellowship

Notes to the Financial Statements

for the year ended 31 August 2020

Human 2020 2019
7 Expenditure on Charitable activities Resources Premises Support Total Total
£ £ £ £ £ £
Congregations - 238,602 56,173 80,221 374,996 405,643
Training & Ministry - 182,991 35,408 121,092 339,491 524,065
Missions - - 164,677 868 165,545 104,692
Property - - - 32,592 32,592 29,374
Governance costs - - - 6,500 6,500 7,000
- 421,593 256,258 241,273 919,124 1,070,774
Human Other Depreciation 2020 2019
8 Analysis of Support costs Resources Premises support & finance Total Total
£ £ £ £ £ £
Congregations - 63,419 16,802 - 80,221 104,087
Training & Ministry - 26,032 95,060 - 121,092 180,787
Missions - - 868 - 868 2,817
Property - - - 32,592 32,592 29,374
Governance costs - - 6,500 - 6,500 7,000
- 89,451 119,230 32,592 241,273 324,065
9 Staff costs 2020 2019
£ £
Staff salaries 386,957 357,135
Staff social security 25,336 23,618
Staff pensions 9,300 7,758
421,593 388,511
Average number of full time equivalent (FTE) employees and associated
remuneration during the year was: 2020 2019
FTE Total £ FTE Total £
Employees Direct 16 421,593 13 377,566
Support - - 1 10,945
Total 16 421,593 14 388,511
Employees paid in excess of £60,000 during the current year and previous year: Employees paid in excess of £60,000 during the current year and previous year: - -

No remuneration was paid to any Trustee or their associates for services as a Trustee during the year ended 31 August 2020 nor to 31 August 2019.

Freehold Furniture &
**10 ** Tangible fixed assets Tangible 1 Tangible 2 property Motor vehicles fixtures Total
£ £ £ £ £ £
Cost
As at 1 September 2019 - - 2,047,868 19,738 21,771 2,089,377
Additions - - - - 14,666 14,666
As at 31 August 2020 - - 2,047,868 19,738 36,437 2,104,043
Depreciation
As at 1 September 2019 - 1 319,402 19,738 19,770 358,911
Charge for the year - - 28,480 - 4,113 32,593
As at 31 August 2020 - 1 347,882 19,738 23,883 391,504
Net book value
As at 31 August 2019 - (1) 1,728,466 - 2,001 1,730,466
As at 31 August 2020 - (1) 1,699,986 - 12,554 1,712,539

Page 17

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

F Ichthus Christian Fellowship

Notes to the Financial Statements for the year ended 31 August 2020

UK listed
equity
**11 ** Investments #N/A investments Total
£ £ £
Market value
As at 1 September 2019 - 16,693 16,693
Revaluations - (12,179) (12,179)
As at 31 August 2020 - 4,514 4,514
UK listed equity investments The charity holds 20,670 ordinary shares in Premier Oil PLC which were given as a gift to the The charity holds 20,670 ordinary shares in Premier Oil PLC which were given as a gift to the
charity.

12 Stocks

Stocks
**12 ** Stocks 2020 2019
£ £
Stock 2,895 4,399
2,895 4,399
**13 ** Debtors: amounts falling due within one year 2020 2019
£ £
Accrued gift aid tax 9,249 51,332
Prepayments 15,310 10,401
24,559 61,733
**14 ** Creditors: amounts falling due within one year 2020 2019
£ £
Operating creditors 15,391 70,903
Payroll liabilities 8,672 (504)
Pensions - (44)
Accruals 6,502 7,001
Deferred income 21,654 -
52,219 77,356
Opening Resources Resources Other Closing
**15 ** The funds of the charity: current year balance arising utilised movements balance
£ £ £ £ £
Restricted funds
Restricted income funds 177,459 183,678 (189,661) 29,353 200,829
Unrestricted funds
Designated funds 1,730,464 14,666 (32,593) - 1,712,537
General funds 1,415,047 741,954 (709,049) (29,353) 1,418,599
Total unrestricted funds 3,145,511 756,619 (741,641) (29,353) 3,131,136
3,322,970 940,297 (931,302) - 3,331,965

Page 18

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

F Ichthus Christian Fellowship

Notes to the Financial Statements

for the year ended 31 August 2020

Opening Resources Resources Other Closing
**16 ** The funds of the charity: prior year balance arising utilised movements balance
£ £ £ £ £
Restricted funds
Restricted income funds 149,081 117,531 (125,069) 35,916 177,459
Unrestricted funds
Designated funds 1,650,590 109,250 (29,376) - 1,730,464
General funds 1,230,499 1,145,731 (925,267) (35,916) 1,415,047
Total unrestricted funds 2,881,089 1,254,981 (954,643) (35,916) 3,145,511
3,030,170 1,372,512 (1,079,712) - 3,322,970
Opening Resources Resources Transfers & Closing
**17 ** Designated funds: current year balance arising utilised adjustments balance
£ £ £ £ £
116 Perry Vale (Ichthus House) 278,941 - 4,958 273,983
118 Perry Vale 383,244 - 6,551 376,693
118a Perry Vale 178,296 - 3,010 175,286
276 Mitcham Lane 564,040 - 8,561 555,479
Sheridan Hall 216,548 - 3,209 213,339
Non property fixed assets 2,001 14,666 4,113 12,554
Other property fixed assets 107,394 - 2,191 105,203
1,730,464 14,666 32,593 - 1,712,537
Opening Resources Resources Transfers & Closing
**18 ** Designated funds: prior year balance arising utilised adjustments balance
£ £ £ £ £
116 Perry Vale (Ichthus House) 283,886 - 4,945 - 278,941
118 Perry Vale 389,777 - 6,533 - 383,244
118a Perry Vale 181,298 - 3,002 - 178,296
276 Mitcham Lane 572,578 - 8,538 - 564,040
Sheridan Hall 219,748 - 3,200 - 216,548
Non property fixed assets 3,303 - 1,302 - 2,001
Other property fixed assets - 109,250 1,856 - 107,394
1,650,590 109,250 29,376 - 1,730,464
Designated funds This fund represents the amount of charity funds locked up in fixed assets which are needed This fund represents the amount of charity funds locked up in fixed assets which are needed This fund represents the amount of charity funds locked up in fixed assets which are needed
for operational purposes. The funds are carried at the net book value of the fixed assets at the for operational purposes. The funds are carried at the net book value of the fixed assets at the
balance sheet date, after deducting any outstanding loans, endowment funds or restricted
funds used to finance their acquisition.
Opening Incoming Resources Transfers & Closing
**19 ** Restricted funds: current period balance resources expended gains/(losses) balance
£ £ £ £ £
Congregations 37,138 23,220 10,677 1,229 50,910
Christian Ministries 19,541 1,257 - (3,656) 17,142
Property 78,917 - 12,179 (5,082) 61,656
Coronavirus Job Retention Scheme (CJRS) - 1,260 1,260 - -
Overseas Missions 41,864 157,941 165,546 36,862 71,121
177,459 183,678 189,661 29,353 200,829

Page 19

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

F Ichthus Christian Fellowship

Notes to the Financial Statements

for the year ended 31 August 2020

Opening Incoming Resources Transfers & Closing
**20 ** Restricted funds: prior period balance resources expended gains/(losses) balance
£ £ £ £ £
Congregations 30,523 11,429 3,575 (1,239) 37,138
Christian Ministries 12,323 7,821 7,865 7,262 19,541
Property 87,855 - 8,938 - 78,917
Christian workers 174 - - (174) -
Overseas Missions 18,207 98,281 104,692 30,067 41,864
149,081 117,531 125,069 35,916 177,459

Restricted funds (continued)

Projects financed by restricted funds are supported by unrestricted funding where necessary. This occurs where the funding is in arrears or the incidence of expenditure on the project occurs disproportionately at the beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is met by after year-end restricted income or transfers from unrestricted funds.

unrestricted funds.
Congregations Gifts earmarked in congregations for specific equipment costs orpastoral needs.
Christian Ministries Gifts earmarked for the ministryof other Christian charities.
Property Gifts earmarked for the Fellowship's futurepropertyexpenditureprojects.
Christian workers These are funds restricted to supporting Christian workers who work directly, or have links,
with ICF.
Coronavirus Job Retention
Scheme (CJRS)		 The CJRS was introduced to help employers who cannot maintain their current workforce
because their operations are affected by the COVID-19 outbreak. The amount relates to the
furlough claims made to HMRC during the year. All the amounts received from the claims
have been paid to the employees who the claims relate to.
Overseas Missions Earmarked gifts designated for specific overseas missions work or individual missionary
support.
General Designated Restricted Endowment
**21 ** Transfers between funds funds funds funds funds Total
General to restricted (29,353) 29,353 -
Designated to general 32,593 (32,593) -
3,240 (32,593) 29,353 - -
General Designated Restricted Endowment
**22 ** Net assets attributable to funds: current period funds funds funds funds Total
£ £ £ £
Tangible fixed assets 4,516 1,712,537 - - 1,717,053
Current assets 1,466,302 - 200,829 - 1,667,130
Current liabilities (52,219) - - - (52,219)
Net assets represented by funds 1,418,599 1,712,537 200,829 - 3,331,965
General Designated Restricted Endowment
Net assets attributable to funds: prior period funds funds funds funds Total
£ £ £ £
Tangible fixed assets 16,695 1,730,464 - - 1,747,159
Current assets 1,475,707 - 177,459 - 1,653,166
Current liabilities (77,355) - - - (77,355)
Net assets represented by funds 1,415,047 1,730,464 177,459 - 3,322,970

23 Net assets attributable to funds: prior period

24 Taxation

The company is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

25 Post balance sheet events

There were no significant post balance sheet events.

Page 20

(A charity company limited by guarantee, company number 4255893, charity number 1099412)

F Ichthus Christian Fellowship

Notes to the Financial Statements for the year ended 31 August 2020

26 Pension commitments

The charitable company contributes to employee defined contribution (DC) auto enrolment pension schemes. The assets of the schemes are held separately from those of the charitable company in independently administered funds.

27 Other financial commitments

Total operating lease commitments

At 31 August 2020, the charity had total commitments under non-cancellable operating leases as detailed below:

2020 2019
£ £
Land & buildings 101,000 113,000
Other leases 3,109 4,239
104,109 117,239

28 Contingent liabilities

The charitable company had no material contingent liabilities at 31 August 2020 nor at 31 August 2019.

29 Transactions with Trustees

There were no material transactions with the Trustees during the year.

30 Related parties

5 salaried employees are related to members of the Board of Trustees. None of these employees earned more than £35,000 and in aggregate were paid £109,813 in the year (2019: £71,990)

In addition Christen Forster, the son of Trustees Roger and Faith Forster was engaged on a freelance basis for certain work and received a gift of £450 (2019: £500)

31 Gifts in kind and volunteers

During the year the charitable company benefited from unpaid work performed by volunteers.

32 Company status

The company is limited by guarantee and has no share capital. The guarantors liability in the event the company is wound up is restricted to a maximum of £1 each.

Page 21