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2023-10-31-accounts

Company number: 4255893 Charity number: 1099412

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 October 2023

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 October 2023

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 - 11
Statement of Financial Activities 12
Statement of Financial Postion 13
Statement of Cash Flows 14
Accounting Policies 15 - 16
Notes to the Financial Statements 17 - 22

Page 2

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

AT Ichthus Christian Fellowship

Charitable Company Information for the year ended 31 October 2023

Status:

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 - until 17 January 2024
Robert John Dunnett George
David Frederick Higgins Pharoah
Sarah Caroline Larkin
David Peter Charles Curtis
Chairperson: James William Chapman
Senior Statutory Auditor: Anthony Armstrong FCA
Armstrong & Co
Chartered Accountants & Statutory Auditor
4a Printing House Yard
Hackney Road
London E2 7PR
Solicitors: Edward Connor Solicitors
10 The Point
Market Harborough
LE16 7QU
Bankers: Barclays Bank plc
PO Box 303
Lewisham
London SE13 6BU

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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 October 2023

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 October 2023.

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 spiritual leadership of Ichthus is carried by a team called the Ministry Team, led by Henry George. The Ministry Team consists of Henry George, Debbie Laycock, Phil Tate, Abi Willetts, Joel Todd, Lydia George and Joshua Walker. They were commissioned in March 2022 by Roger and Faith Forster and now take spiritual responsibility for the life and work of the Fellowship, alongside the congregation leaders. The Trustees hold the legal responsibility for the work of the Fellowship and make decisions in conjunction with the spiritual leadership. Roger and Faith Forster remain on the Board of Trustees, and are actively involved in the spiritual life of Ichthus as Apostles, continuing to preach, teach, be part of the prayer community and still do pastoral work and prayer ministry. Roger Forster passed away on 17th January 2024, which is outside of this financial year, but before submission of these financial accounts. There will be a Thanksgiving Celebration for the Ministry of Roger on 4th May 2024. The Trustees would like to deeply express their gratitude, love and thanks to Roger, whose life was a deep inspiration, and who planted and led this movement for nearly 50 years.

A Management Team exists to support the Trustees, and Ministry Team in relation to Management, Property, Finance, IT and HR issues. The Management Team reports to the Ministry Team and the Trustees.

Policies and Procedures�

The charity has policies in place including health and safety, equal opportunities, safeguarding vulnerable beneficiaries, anti-money laundering policy, social media policy, and disciplinary and grievance procedures. �

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

OBJECTIVES AND ACTIVITIES

Charitable Objects

To promote and advance the Christian faith throughout the world, 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:

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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 October 2023

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. The charity’s main aims are as follows:

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 members of the Ichthus congregations, members of Link Congregations and the wider community, in this country and abroad.

Religious Activities

Regular public meetings : Ichthus congregations 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. There are currently 10 Ichthus congregations.

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

Regular times of prayer: Ichthus 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 Ichthus and other related matters; and congregational prayer times to pray for the activities of the congregations and their local communities. In addition, Ichthus employees and leaders regularly meet to pray for the activities of Ichthus and the local communities in which they are working; and Ichthus holds a 3 day worship, prayer and fasting conference each year, during which the delegates pray over issues of local, national and international concern.

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

Prayer House: Ichthus also owns a building which is used for prayer, worship and also for the Ichthus administrative offices (upstairs). The weekly Prayer Community is based at the Prayer House.

Link Churches and Leaders Conference: Ichthus 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. This, in turn, provides support to the wider church in this country and abroad. Ichthus ran a Link Church Leaders Conference and Ichthus Leaders Conference, at the same venue, one week apart. These short weekend conferences were well received and, according to feedback from delegates, positively impacted and empowered leaders across the UK church.

Revive: Ichthus organizes a week long summer camp each year which is open to all and regularly attracts participants who are not otherwise involved with Ichthus. 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 2023 was held from 29th July – 5th August and was well attended.

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

Web Presence: Ichthus’ website www.ichthus.org.uk includes a substantial amount of teaching about the Christian religion, much of which is available for free download.

Media: Ichthus funds a media department, which records teaching generated by Ichthus 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: Ichthus provides children and youth work as part of Sunday morning and evening meetings, and at other times during the week. Ichthus congregations run Toddler groups, after school clubs, and special events throughout the year including community fun days and football outreach.

Regular evangelism: Ichthus organizes regular events which are designed to increase awareness of the Christian religion, including talking and praying with local people, always respecting fully those who do not wish to engage with us in this way. In April – May 2023 we held an evangelistic mission called City on a Hill which was 7 consecutive weekend missions between Easter and Pentecost. This was a real success again and Ichthus congregations continue to see the fruit of these missions.

Bible Stream: Ichthus holds a monthly teaching session at which particular Bible passages and themes are explored in depth. These run Oct – Dec and Feb – April.

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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 October 2023

Worldwide: Ichthus provides financial and other support (including an annual conference) for those who are seeking to advance the Christian faith around the world. The Overseas workers conference was held in person at a hotel in August 2023 and it was wonderful to have our overseas workers back at Revive and at the Overseas Conference.

Community Activities and Activities to Relieve Poverty

Community events: Ichthus 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 children’s activities on inner city estates; free pop up or afterschool kids clubs; and supporting homeless people through the provision of meals.

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

Giving: Ichthus 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 Ichthus have visited projects and communities in the developing world to provide prayer, support and Christian teaching.

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

Other notes

Measure of Success

Ichthus Christian Fellowship has no single, reliable indicator of ‘success’, and to a large extent, the benefit of the charity’s work is personal to 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 Ichthus is incalculable. However, some indicators of success are:

During this financial year, 1st November 2022 to 31st October 2023, attendance in congregations, at conferences, events and at Revive have all increased which is an indicator that confidence is returning following on from the Pandemic, and people are keen to re-engage and get back to church. It has been wonderful to see congregations growing with new members and new salvations.

FINANCIAL REVIEW

Results for the year

The results of the period and financial position of the charity are shown in the annexed financial statements. Please note, last year's comparative are for 14 month period due to the moving of the year end. As such, the income and expenditure are both higher than usual.

The Statement of Financial Activities shows an increase in funds for the year of £128,140 which brings the overall reserves to £3,717,924.

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. During the next financial year the Management Team and Trustees will work on calculating a more accurate Reserves amount which includes Redundancy costs and other financial commitments and liabilities.

Plans for future periods

The Trustees wish to continue to pursue the aims and objectives set out 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 October 2023

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.

The Trustees have determined that the Trust is required to be audited in accordance with Charities’ legislation, although an audit is 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 11 July 2024 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 October 2023

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 period ended 31 October 2023 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).

Opinion on financial statements

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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information in the trustees' report, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and 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, 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:

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:

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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

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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.

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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

Use of our report

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.

Anthony Armstrong FCA (Senior statutory auditor) for and on behalf of Armstrong & Co, Statutory Auditor Chartered Accountants & Statutory Auditor Dated: 11 July 2024

4a Printing House Yard Hackney Road London E2 7PR

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(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 October 2023

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Other sources
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net income/(expenditure)
Net gains/(losses) on investments
11
Net income/(expenditure) and movement in funds
Transfers between funds
21
Net movement in funds
Reconciliation of funds:
Total funds brought forward
15
Total funds carried forward
15		 2023
2022
Total Funds
Total Funds
12 months
14 months
£
£
1,501,705
1,261,385
230,007
170,565
17,676
4,539
46,374
46,474
1,795,762
1,482,963
1,666,340
1,364,780
1,666,340
1,364,780
129,422
118,183
(1,282)
220
128,140
118,403
-
-
128,140
118,403
3,589,784
3,471,381
3,717,924
3,589,784
Unrestricted
Funds		 Restricted
Funds
£
835,344
229,051
17,676
46,274		 £
666,361
956
-
100
667,417
450,007
450,007
217,410
(1,282)
216,128
32,818
248,946
218,054
467,000
1,128,345
1,216,333
1,216,333
(87,988)
-
(87,988)
(32,818)
(120,806)
3,371,730
3,250,924

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 October 2023

31 October 2023 31 October 2023 31 October 2022 31 October 2022
Notes £ £ £ £
Fixed assets:
Tangible assets 10 2,137,423 2,172,424
Investments 11 2,622 3,904
Total fixed assets 2,140,045 2,176,328
Current assets:
Stocks 12 3,417 2,938
Debtors 13 34,929 19,400
Cash at bank and In hand - 1,582,701 1,424,665
Total current assets 1,621,047 1,447,003
Creditors: amounts falling due within one year 14 43,168 33,547
Net current assets/(liabilities) 1,577,879 1,413,456
Total net assets 3,717,924 3,589,784
The funds of the charity:
Restricted income funds 19 467,000 218,054
Unrestricted funds 15 3,250,924 3,371,730
Total charity funds 15 3,717,924 3,589,784

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 11 July 2024 and signed on its behalf by:

David Frederick Higgins Pharoah Trustee

The notes on pages 15 to 22 form part of these accounts.

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Ichthus Christian Fellowship

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

Statement of Cash Flows for the year ended 31 October 2023

Notes
Cash flows from operating activities:
Net cash provided by/(used in) operating activities
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
2
Cash and cash equivalents at the end of the reporting period
2
Notes to the Cash Flow Statement
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
Net cash provided by/(used in) operating activities
2)
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
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)		 2023
£
146,611
17,676
(6,251)
11,425
158,036
1,424,665
1,582,701
2023
£
128,140
41,252
1,282
(17,676)
(479)
(15,529)
9,621
146,611
2023
£
1,582,701
1,582,701		 2022
£
132,762
4,539
(535,842)
(531,303)
(398,541)
1,823,206
1,424,665
2022
£
118,403
44,723
(220)
(4,539)
164
32,699
(58,466)
132,762
2022
£
1,424,665
1,424,665

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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 October 2023

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.

Charitable expenditure includes those costs expended in fulfilling the charity’s principal objects, as outlined in the Report 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 October 2023

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)

Notes to the Financial Statements for the year ended 31 October 2023

F Ichthus Christian Fellowship

1 Incoming resources

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

2 Net incoming resources

Net incoming resources
Net incoming resources are stated after charging:
Auditors fees - statutory audit services
Auditors fees - other services
Depreciation - owned assets
Trustees' emoluments		 2023
£
4,800
3,428
41,252
-		 2022
£
4,800
3,656
44,723
-

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
Legacies		 Unrestricted
£
671,881
115,278
-
48,185
835,344		 Restricted
£
86,193
408,238
169,930
2,000
666,361		 2023
Total
£
758,074
523,516
169,930
50,185
1,501,705		 2022
Total
£
730,740
129,658
148,414
252,573
1,261,385
4
Income from charitable activities
Congregations
Training & Ministry
5
Income from investments
Training & Ministry
6
Other sources
Congregations
Training & Ministry
7
£
Congregations
-
Training & Ministry
-
Missions
-
Property
-
Governance costs
-
-
Expenditure on Charitable activities		 Human
Resources
£
283,469
344,067
470
-
-
628,006		 Unrestricted
£
18,001
211,050
229,051
Unrestricted
£
17,676
17,676
Unrestricted
£
12,308
33,966
46,274
Project
costs
£
108,031
337,150
211,013
-
-
656,194		 Restricted
£
-
956
956
Restricted
£
-
-
Restricted
£
100
-
100
Support
£
105,773
208,953
19,662
41,252
6,500
382,140		 2023
Total
£
18,001
212,006
230,007
2023
Total
£
17,676
17,676
2023
Total
£
12,408
33,966
46,374
2023
Total
£
497,273
890,170
231,145
41,252
6,500
1,666,340		 2022
Total
£
2,420
168,145
170,565
2022
Total
£
4,539
4,539
2022
Total
£
4,697
41,777
46,474
2022
Total
£
512,362
628,887
173,672
43,359
6,500
1,364,780

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 October 2023

8
Analysis of Support costs
Human
Resources
£
Congregations
-
Training & Ministry
-
Missions
-
Property
-
Governance costs
-
-
9
Staff costs
Staff salaries
Staff social security
Staff pensions		 Premises
£
69,027
108,739
-
-
-
177,766		 Other
support
costs
£
36,746
100,214
19,662
-
6,500
163,122		 Depreciation
& finance
costs
£
-
-
-
41,252
-
41,252		 2023
Total
£
105,773
208,953
19,662
41,252
6,500
382,140
2023
£
567,834
45,125
15,047
628,006		 2022
Total
£
114,546
116,542
2,060
43,359
6,500
283,007
2022
£
496,536
38,001
13,563
548,100
No.
Employees
Direct
26
Total
26
Employees paid in excess of £60,000 during the current year and previous year:
Average number of employees and associated remuneration during the year
was:		 2023
Total £
628,006
628,006		 No.
21
21
-		 2022
Total £
468,732
468,732
-

No remuneration was paid to any Trustee or their associates for services as a Trustee during the year ended 31 October 2023 nor to 31 October 2022.

10
**11 **		 Tangible fixed assets
Tangible 1
Tangible 2
£
£
Cost
As at 1 November 2022
-
-
Additions
-
-
As at 31 October 2023
-
-
Depreciation
As at 1 November 2022
-
-
Charge for the year
-
-
As at 31 October 2023
-
-
Net book value
As at 31 October 2022
-
-
As at 31 October 2023
-
-
Investments
Market value
As at 1 November 2022
Revaluations
As at 31 October 2023		 Tangible fixed assets
Tangible 1
Tangible 2
£
£
Cost
As at 1 November 2022
-
-
Additions
-
-
As at 31 October 2023
-
-
Depreciation
As at 1 November 2022
-
-
Charge for the year
-
-
As at 31 October 2023
-
-
Net book value
As at 31 October 2022
-
-
As at 31 October 2023
-
-
Investments
Market value
As at 1 November 2022
Revaluations
As at 31 October 2023		 Freehold
property
£
2,578,368
-
2,578,368
415,706
35,512
451,218
2,162,662
2,127,150		 Motor vehicles
£
23,831
-
23,831
21,102
1,364
22,466
2,729
1,365
#N/A
£
-
-
-		 Furniture &
fixtures
£
38,805
6,251
45,056
31,772
4,376
36,148
7,033
8,908
UK listed
equity
investments
£
3,904
(1,282)
2,622		 Total
£
2,641,004
6,251
2,647,255
468,580
41,252
509,832
2,172,424
2,137,423
Total
£
3,904
(1,282)
2,622
UK listed equity investments The charity holds 1,033 ordinary shares in Harbour Energy PLC which were given as a gift to
the charity.

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 October 2023

12
13
14
15
16
**17 **		 Stocks
Stock
Debtors: amounts falling due within one year
Accrued income
Prepayments
Creditors: amounts falling due within one year
Operating creditors
Payroll liabilities
Pensions
Accruals
Deferred income
The funds of the charity: current year
Restricted funds
Restricted income funds
Unrestricted funds
Designated funds
General funds
Total unrestricted funds
The funds of the charity: prior year
Restricted funds
Restricted income funds
Unrestricted funds
Designated funds
General funds
Total unrestricted funds
Designated funds: current year
116 Perry Vale (Ichthus House)
118 Perry Vale
118a Perry Vale
276 Mitcham Lane
Sheridan Hall
145 Park Road
Non property fixed assets
Other property fixed assets		 Opening
balance
£
218,054
2,172,422
1,199,308
3,371,730
3,589,784
Opening
balance
£
201,236
1,681,302
1,588,843
3,270,145
3,471,381
Opening
balance
£
263,267
362,535
168,781
536,977
206,404
524,228
9,762
100,468
2,172,422		 Resources
arising
£
667,417
6,251
1,122,094
1,128,345
1,795,762
Resources
arising
£
197,206
535,842
749,915
1,285,757
1,482,963
Resources
arising
£
-
-
-
-
-
-
6,251
-
6,251		 Resources
utilised
£
(450,007)
(41,253)
(1,175,080)
(1,216,333)
(1,666,340)
Resources
utilised
£
(208,788)
(44,722)
(1,111,270)
(1,155,992)
(1,364,780)
Resources
utilised
£
4,945
6,533
3,002
8,538
3,200
7,110
5,740
2,185
41,253		 2023
£
3,417
3,417
2023
£
16,980
17,949
34,929
2023
£
22,117
11,540
2,287
7,224
-
43,168
Other
movements
£
31,536
-
(32,818)
(32,818)
(1,282)
Other
movements
£
28,400
-
(28,180)
(28,180)
220
Transfers &
adjustments
£
-
-
-
-
-
-
-
-		 2022
£
2,938
2,938
2022
£
8,746
10,654
19,400
2022
£
14,923
10,516
-
7,299
809
33,547
Closing
balance
£
467,000
2,137,420
1,113,504
3,250,924
3,717,924
Closing
balance
£
218,054
2,172,422
1,199,308
3,371,730
3,589,784
Closing
balance
£
258,322
356,002
165,779
528,439
203,204
517,118
10,273
98,283
2,137,420

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 October 2023

18
19
**20 **		 Designated funds: prior year
116 Perry Vale (Ichthus House)
118 Perry Vale
118a Perry Vale
276 Mitcham Lane
Sheridan Hall
145 Park Road
Non property fixed assets
Other property fixed assets		 Designated funds: prior year
116 Perry Vale (Ichthus House)
118 Perry Vale
118a Perry Vale
276 Mitcham Lane
Sheridan Hall
145 Park Road
Non property fixed assets
Other property fixed assets		 Opening
balance
£
269,038
370,160
172,284
546,941
210,139
-
9,722
103,018
1,681,302		 Resources
arising
£
-
-
-
-
-
530,500
5,342
-
535,842		 Resources
utilised
£
5,771
7,625
3,503
9,964
3,735
6,272
5,302
2,550
44,722		 Transfers &
adjustments
£
-
-
-
-
-
-
-
-
-		 Closing
balance
£
263,267
362,535
168,781
536,977
206,404
524,228
9,762
100,468
2,172,422
Designated funds 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
balance sheet date, after deducting any outstanding loans, endowment funds or restricted
funds used to finance their acquisition.
Restricted funds: current period
Congregations
Christian Ministries
Property
Overseas Missions
Restricted funds: prior period
Congregations
Christian Ministries
Property
Overseas Missions		 Opening
balance
£
49,685
24,913
23,591
119,865
218,054
Opening
balance
£
44,296
10,951
50,135
95,854
201,236		 Incoming
resources
£
88,293
164,194
245,000
169,930
667,417
Incoming
resources
£
21,202
17,590
-
158,414
197,206		 Resources
expended
£
24,850
107,977
86,037
231,144
450,007
Resources
expended
£
15,988
19,128
-
173,672
208,788		 Transfers &
gains/(losses)
£
2,664
(3,135)
(4,594)
36,601
31,536
Transfers &
gains/(losses)
£
175
15,500
(26,544)
39,269
28,400		 Closing
balance
£
115,792
77,996
177,960
95,251
467,000
Closing
balance
£
49,685
24,913
23,591
119,865
218,054

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.
Overseas Missions Earmarked gifts designated for specific overseas missions work or individual missionary
support.
21 Transfers between funds: current period
General to restricted
Designated to general		 General
funds
(32,818)
41,253
8,435		 Designated
funds
-
(41,253)
(41,253)		 Restricted
funds
32,818
-
32,818		 Endowment
funds
-
-
-		 Total
-
-
-

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 October 2023

22 Transfers between funds: prior period
Designated to general
23 Net assets attributable to funds: current period
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds
24 Net assets attributable to funds: prior period
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 General
funds
11,574
11,574
General
funds
2,625
1,154,043
(43,164)
1,113,504
General
funds
3,906
1,228,949
(33,547)
1,199,308		 Designated
funds
(11,574)
(11,574)
Designated
funds
£
2,137,420
-
-
2,137,420
Designated
funds
£
2,172,422
-
-
2,172,422		 Restricted
funds
-
-
Restricted
funds
£
-
467,000
-
467,000
Restricted
funds
£
-
218,054
-
218,054		 Endowment
funds
-
-
Endowment
funds
£
-
-
-
-
Endowment
funds
£
-
-
-
-		 Total
-
-
Total
£
2,140,045
1,621,043
(43,164)
3,717,924
Total
£
2,176,328
1,447,003
(33,547)
3,589,784

25 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.

26 Post balance sheet events

There were no significant post balance sheet events.

27 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.

28 Other financial commitments

Total operating lease commitments

At 31 October 2023, the charity had total commitments under non-cancellable operating leases as detailed below:

Less than one year
One to five years
More than five years		 2023
2022
£
£
11,250
11,250
45,000
45,000
22,500
33,750
78,750
90,000
Land & buildings		 2023
2022
£
£
898
565
1,122
-
-
-
2,020
565
Other leases

29 Contingent liabilities

The charitable company had no material contingent liabilities at 31 October 2023 nor at 31 October 2022.

30 Transactions with Trustees

During the year the charity released £1,900 (2022: £2,781) to Roger Forster and Faith Forster out of the funds held under the Forster Fund.

There were no other disclosable transactions with the Trustees during the year.

Page 21

(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 October 2023

31 Related parties

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 £600 (2022: £903).

32 Gifts in kind and volunteers

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

33 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 22