Charity number: 1099921
THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
UNAUDITED
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisors | 1 |
| Trustees’ report | 2-4 |
| Independent examiner’s report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8-12 |
THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS
FOR THE YEAR ENDED 31 DECEMBER 2021
| Trustees | Patrick Neenan |
|---|---|
| Sandy Chonillo | |
| Enrique Pavon Garcia | |
| Alvaro A Baeza Nunes | |
| Enrique Pavon Castro (appointed 1 April 2021) | |
| Charity registration number | 1099921 |
| Principal office | Veterans Hall |
| Osidge Lane | |
| Southgate | |
| London | |
| N14 5DU | |
| Independent examiner | Roger J Seaton FCA |
| 23 Greenhill Park | |
| Barnet | |
| Herts | |
| EN5 1HQ | |
| Bankers | HSBC plc |
| PO Box 27 | |
| 101 – 103 Station Road | |
| Edgware | |
| HA8 7JJ |
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their annual report together with the financial statements of the charity for the year ended 31 December 2021. 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 (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
Objectives and activities
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the charity commission relating to public benefit and in particular to its supplementary public benefit guidance on the advancement of religion for the public benefit which is the primary aim of the charity.
The overall objectives of the charity are:
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The advancement of the Christian faith which the charity develops through its weekly services, worship meetings and evangelistic activities
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The advancement of education on the basis of Christian principles which is carried out through weekly development, training courses and person to person contact
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The relief of persons who are in conditions of need, hardship or distress or who are sick and aged
These objectives are achieved through the leadership of a pastoral team. They are responsible for the spiritual guidance by developing strategies that follow the Christian faith and keep a close relationship with the people who are involved with the charity and support its vision. As part of the leadership team the charity has a pastor who is responsible for the day-to-day issues as well as the management of all related activities within the scope of the church and community. In addition to this person a team of volunteers is always able to help and support any requirement needed to accomplish each activity successfully.
Despite the effect of the Covid-19 pandemic the charity has continued to keep its strong congregational numbers and members of the public are very welcome to join and attend activities. These activities include Sunday services, prayer meetings, evangelistic courses, overseas mission trips where possible, youth holidays, as well as activities with the local community. As a result, increasing numbers of adults and youth have been restored through evangelistic and pastoral missions by the teaching of values and principles and more volunteers have joined the mission field overseas.
The charity remains deeply concerned about people who are in conditions of need, hardship or distress and those who are sick and aged. In keeping with this objective, during the year, the charity has continued to work with CCI in Spain, Portugal, Morocco, Israel and Germany by sending volunteers and material resources from church members.
Achievements and performance
A review of the activities and the results for the year are shown in the statement of financial activities.
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
Financial review
The charity’s funds are divided into restricted and unrestricted funds. Restricted funds can only be used for the purpose for which they are set up. The unrestricted fund, the general fund, is the main fund which receives income and from which payment is made for the cost of running the charity and its activities. The income of the year was £367,948. Expenditure for the year was £240,074. As a result, there was net income for the year of £127,874. The balance to carry forward on unrestricted funds at the end of the year was £860,700.
Because of continuing giving by the congregation, the charity trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the accounts.
It is the policy of the trustees to maintain a balance on general fund which equates to three months unrestricted payments. The current balance exceeds this figure.
It remains the aim of the trustees to the purchase of a property for the charity’s use and there have been some investigations during the year. Thus the trustees are continuing to build up funds to enable this to happen.
Plans for the future
There is a continuing need for the charity to maintain and expand its work both in the community in which it operates and abroad, including the need for more volunteers. Long-term the ownership of a property would aid this expansion.
Structure, governance and management
The charity was established under a declaration of trust on 10 July 2003.
New trustees are appointed from time to time by the existing trustees. Recruitment will focus on persons who have an interest in the objectives of the charity.
The trustees have met or have been in contact monthly during the year to discuss the financial and spiritual affairs of the charity and to plan forthcoming events.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems and procedures are in place to mitigate exposure to the major risks to which the charity might be exposed.
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
Statement of trustees’ responsibilities
The trustees are responsible for preparing the trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the board of trustees on 19 October 2022 and signed on their behalf by:
SANDY CHONILLO Trustee
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
Independent examiner's report to the trustees of Theotherapy Christian Fellowship Trust
I report to the trustees on my examination of the accounts of the Theotherapy Christian Fellowship Trust for the year ended 31 December 2021 which are set out on pages 6 to 12.
Responsibilities and basis of report
As the charity’s trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am member of the Institute of Chartered Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
ROGER SEATON FCA 23 Greenhill Park Barnet, Herts EN5 1HQ
19 October 2022
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2021 | 2021 | 2021 | 2020 | ||
| Notes | £ | £ | £ | £ | |
| Income from: | |||||
| Donations | 2 | 290,269 | 290,269 | 244,037 | |
| Income from charitable activities | 3 | 25,576 | 25,576 | 7,471 | |
| Other income | 4 | 77,629 | 77,629 | 62,619 | |
| Bank interest | 50 | 50 | 456 | ||
| Total income | 367,948 | 25,576 | 393,524 | 314,583 | |
| Expenditure on: | |||||
| Charitable activities | 5,6 | 240,074 | 6,710 | 246,784 | 187,288 |
| Total expenditure | 240,074 | 6,710 | 246,784 | 187,288 | |
| Net income and net movement | |||||
| of funds for the year | 127,874 | 18,866 | 146,740 | 127,295 | |
| Reconciliation of funds: | |||||
| Total Funds at 1 January 2021 | 732,826 | 732,826 | 605,531 | ||
| Total Funds at 31 December 2021 | 860,700 | 18,866 | 879,566 | 732,826 |
All activities relate to continuing operations.
The attached notes form part of these financial statements.
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST
BALANCE SHEET
| AS AT 31 DECEMBER 2021 Notes Fixed assets 8 Current assets Debtors 9 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 10 Net current assets Net assets Charity funds: General fund Restricted funds 11 Total funds |
2021 2020 £ £ 2,596 5,672 72,226 34,632 812,101 715,380 884,327 750,012 7,357 22,858 876,970 727,154 879,566 732,826 860,700 732,826 18,866 0 879,566 732,826 |
|---|---|
The financial statements were approved by the trustees on 19 October 2022 and signed on their behalf by:
SANDY CHONILLO Trustee
The attached notes form part of these financial statements
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. Accounting Policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance
with Statement of Recommended Practice : Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (the Charities SORP (FRS 102), and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
1.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
1.3. Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party. It is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.
Support costs are costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
All resources expended are inclusive of irrecoverable VAT.
1.4 Fund accounting
General funds are expendable at the discretion of the trustees in furtherance
of the objects of the company. Restricted funds are those funds that have been donated for a particular purpose and must be spent by the trustees on the furtherance of that purpose.
1.5 Fixed assets
Fixed assets are depreciated on a straight line basis over 4 years. Individual items with a purchase price of £1,000 or less are written off when the asset is acquired.
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1.6 Debtors
Debtors include income tax recoverable on donations received under gift aid and have been brought into the financial statements on the basis that the income is recognised at the time of the donation.
1.7 Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
1.8 Financial instruments
The charity only has financial assets and financial liablities of a kind that qualifies as basic financial instruments. Basic financial instruments (including debtors and creditors) are initially recognised at transaction value and subsequently measured at their settlement value.
1.9 Cash at bank and in hand
Cash at bank and in hand includes cash and current and immediate access deposit accounts.
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2021 | 2021 | 2021 | 2020 | |
| 2. Income from donations | £ | £ | £ | £ |
| Church offerings | 242,939 | 242,939 | 212,575 | |
| Income tax receivable on gift aid donations | 47,330 | 47,330 | 31,462 | |
| 290,269 | 290,269 | 244,037 | ||
| 3. Income from charitable activities | ||||
| Event - Carrotty Wood | 1,852 | 1,852 | ||
| Israel | 12,289 | 12,289 | ||
| Event - Redil camp | 11,435 | 11,435 | 7,471 | |
| Projects | ||||
| Overseas travel | ||||
| 25,576 | 25,576 | 7,471 | ||
| 4. Other income | ||||
| Rental income | 30,680 | 30,680 | 30,310 | |
| Bookshop and coffee shop income | 37,876 | 37,876 | 17,771 | |
| Government Covid grants | 11,334 | |||
| HMRC furlough grants | 2,713 | |||
| Sundry income | 9,073 | 9,073 | 491 | |
| 77,629 | 77,629 | 62,619 |
For the year ended 31 December 2020 £306,656 related to unrestricted funds and £7,471 related to restricted funds.
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 5. Expenditure on charitable activities | Unrestricted | Restricted | Total | Total |
|---|---|---|---|---|
| Summary by fund type | funds | funds | funds | funds |
| 2021 | 2021 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Grants payable: | ||||
| Spain | 11,936 | 11,936 | ||
| Projects | 41,352 | 41,352 | 30,290 | |
| Property overhead costs | 53,288 12,997 |
53,288 12,997 |
30,290 11,160 |
|
| Repairs and maintenance | 22,656 | 22,656 | 22,610 | |
| Youth house costs | 36,900 | 36,900 | 38,287 | |
| Wages | 30,374 | 30,374 | 20,453 | |
| Travel expenses | 2,536 | 2,536 | 4,191 | |
| Motor expenses | 3,677 | 3,677 | 4,399 | |
| Event cost - Carrotty Wood | -2,316 | -2,316 | ||
| Event cost - Redil camp | 9,026 | 9,026 | 8,322 | |
| Sundry equipment | 18,231 | 18,231 | 12,643 | |
| Welfare and hospitality | 2,310 | 2,310 | 4,624 | |
| Bookshop and coffee shop costs | 31,329 | 31,329 | 16,074 | |
| Ministry,evangelism and training | 12,689 | 12,689 | 6,338 | |
| Administration and IT costs | 5,608 | 5,608 | 2,848 | |
| Sundry expenses including bank charges | 4,403 | 4,403 | 1,300 | |
| Depreciation | 3,076 | 3,076 | 3,749 | |
| 240,074 | 6,710 | 246,784 | 187,288 |
For the year ended 31 December 2020 £179,817 related to unrestricted funds and £7,471 related to restricted funds.
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
6. Analysis of expenditure on charitable activities
| Grants payable Property overhead costs Repairs and maintenance Youth house costs Wages Travel expenses Motor expenses Event cost - Carrotty Wood Event cost - Redil camp Sundry equipment Welfare and hospitality Bookshop and coffee shop costs Ministry,evangelism and training Administration and IT costs Sundry expenses including bank charges Depreciation |
Direct Support Total Total costs costs 2021 2020 £ £ £ £ 53,288 53,288 30,290 12,997 12,997 11,160 22,656 22,656 22,610 36,900 36,900 38,287 30,374 30,374 20,453 2,536 2,536 4,191 3,310 367 3,677 4,399 -2,316 -2,316 9,026 9,026 8,322 16,408 1,823 18,231 12,643 2,310 2,310 4,624 31,329 31,329 16,074 12,689 12,689 6,338 1,869 3,739 5,608 2,848 1,467 2,936 4,403 1,300 3,076 3,076 3,749 237,919 8,865 246,784 187,288 |
|---|---|
For the year ended 31 December 2020 £182,819 related to direct costs and £4,469 related to support costs.
7. Staff costs
| Salaries Employers national insurance contributions Pension contributions |
Total Total funds funds 2021 2020 £ £ 29,101 19,919 920 353 534 30,374 20,453 |
|---|---|
Average number of staff that served during the period - 3 (2020 - 2).
The trustees are considered the key management personnel of the charity. No trustee received any remuneration or any benefits in kind not any reimbursement ox expenses. Income from donations includes £11,145 (2020: £14,762) received from trustees.
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THEOTHERAPY CHRISTIAN FELLOWSHIP TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 8. Fixed assets Cost at 1 January 2021 Addition in the year Disposal in the year Cost at 31 December 2021 Depreciation at 1 January 2021 Depreciation for the year Disposal in year Depeciation at 31 December 2021 Net book value at 31 December 2021 Net book value at 31 December 2020 9. Debtors Income tax recoverable Prepaid expenditure 10. Creditors: amounts falling due within one year Income received in advance Other creditors 11. Restricted funds Israel Event - Carrotty Wood Event - Redil camp General fund Total of funds |
Motor cars Equipment Total £ £ £ 14,650 12,917 27,567 14,650 12,917 27,567 14,650 7,245 21,895 3,076 3,076 14,650 10,321 24,971 0 2,596 2,596 0 5,672 5,672 2021 2020 £ £ 71,162 23,832 1,064 10,800 72,226 34,632 21,954 7,357 904 7,357 22,858 Brought Incoming Resources Carried forward resources expended forward £ £ £ £ 12,289 12,289 0 1,852 -2,316 4,168 0 11,435 9,026 2,409 0 25,576 6,710 18,866 732,826 367,948 240,074 860,700 732,826 393,524 246,784 879,566 |
|---|---|