REGISTERED CHARITY NUMBER: 1106220
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
PILGRIM CHRISTIAN CENTRE
Lee & Capital Partners Ltd Chartered Certified Accountants 25 South Lane New Malden Surrey KT3 5HU
PILGRIM CHRISTIAN CENTRE
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
PILGRIM CHRISTIAN CENTRE
for the Year Ended 31 December 2021
Report of the Trustees
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal object of the charity is advance the Christian Faith. It seeks to do this locally within its immediate geographic neighbourhood area, but also across the UK and internationally with various contacts that the charity has.
Significant activities
The principal fund raising activity of the church is the offerings and donations made by the members of the church congregation. The fund raised are used to support missionary work, both in the United Kingdom and abroad, to give scholarship support to students, and generally to give support and aid to those less well off in the community.
Public benefit
The trustees have had due regard to the Charity Commission's general guidance on public benefit when reviewing the Charity's objectives.
The trustees strongly believe that the meeting together for the worship of God and Jesus Christ, preaching and Bible teaching, as well as meeting in small groups for all ages to explore the Christian faith, as well as working in and with our community is for public benefit.
FINANCIAL REVIEW
Reserves policy
Total income received for the year amounted to £79,173 (2020 £71,183), which is the total incoming resource.
Total expenditure amounted to £56,854 (2020 £59,868) that left net incoming resources for the period of £22,319 (2020 £11,315).
The trustee applied and shall continue to apply accumulations of income to charitable causes after making such provision for all expenditure on trust.
FUTURE PLANS
For 2022 the Church aims to continue to maintain its existing activities and adapt those activities where necessary according to the day-to-day needs of the congregation. Funds given will continue to be spent broadly in line with the current pattern of expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1106220
Principal address
21 Stonecroft Close Hove BN3 8BP
Trustees
Rev E W Song Pastor E C Song Ms E Yang
Independent Examiner
Byung Hun Lee Lee & Capital Partners Ltd Chartered Certified Accountants 25 South Lane New Malden Surrey KT3 5HU
Page 1
PILGRIM CHRISTIAN CENTRE
for the Year Ended 31 December 2021
Report of the Trustees
Approved by order of the board of trustees on 20 October 2022 and signed on its behalf by:
Rev E W Song - Trustee
Page 2
Independent Examiner's Report to the Trustees of PILGRIM CHRISTIAN CENTRE
Independent examiner's report to the trustees of PILGRIM CHRISTIAN CENTRE
I report to the charity trustees on my examination of the accounts of PILGRIM CHRISTIAN CENTRE (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity 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 applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
-
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.
Byung Hun Lee Lee & Capital Partners Ltd Chartered Certified Accountants 25 South Lane New Malden Surrey KT3 5HU
20 October 2022
Page 3
| PILGRIM CHRISTIAN CENTRE | |||
|---|---|---|---|
| Statement of Financial Activities | |||
| for the Year Ended 31 December 2021 | |||
| 31.12.21 | 31.12.20 | ||
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 79,168 | 71,177 | |
| Investment income | 2 | 5 | 6 |
| Total | 79,173 | 71,183 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Church activities | 51,299 | 56,296 | |
| Support costs | 5,555 | 3,572 | |
| Total | 56,854 | 59,868 | |
| NET INCOME | 22,319 | 11,315 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 46,790 | 35,475 | |
| TOTAL FUNDS CARRIED FORWARD | 69,109 | 46,790 | |
| The notes form part of these financial statements | |||
| Page 4 |
PILGRIM CHRISTIAN CENTRE
Balance Sheet
31 December 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 6 | 2,320 | 3,093 |
| CURRENT ASSETS | |||
| Debtors | 7 | - | 3,292 |
| Cash at bank and in hand | 67,702 | 40,903 | |
| 67,702 | 44,195 | ||
| CREDITORS | |||
| Amounts falling due within one year | 8 | (913) | (498) |
| NET CURRENT ASSETS | 66,789 | 43,697 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 69,109 | 46,790 | |
| NET ASSETS | 69,109 | 46,790 | |
| FUNDS | 9 | ||
| Unrestricted funds | 69,109 | 46,790 | |
| TOTAL FUNDS | 69,109 | 46,790 |
The financial statements were approved by the Board of Trustees and authorised for issue on 20 October 2022 and were signed on its behalf by:
E Yang - Trustee
The notes form part of these financial statements
Page 5
PILGRIM CHRISTIAN CENTRE
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery : 25% on reducing balance basis Fixtures & fittings : 25% on reducing balance basis Computer : 25% on reducing balance basis Motor vehicle: 25% on reducing balance basis
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Deposit account interest | 5 | 6 |
continued...
Page 6
PILGRIM CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 3. | TRUSTEES' REMUNERATION AND BENEFITS | ||
|---|---|---|---|
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Trustees' salaries | 10,322 | 10,322 | |
| Trustees' pensions paid | 310 | 310 | |
| 10,632 | 10,632 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.12.21 | 31.12.20 | |
|---|---|---|
| Staff | 2 | 2 |
| No employees received emoluments in excess of £60,000. | ||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | ||
| funds | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 71,177 | |
| Investment income | 6 | |
| Total | 71,183 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Church activities | 56,296 | |
| Support costs | 3,572 | |
| Total | 59,868 | |
| NET INCOME | 11,315 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 35,475 | |
| TOTAL FUNDS CARRIED FORWARD | 46,790 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 7
| PILGRIM CHRISTIAN CENTRE | PILGRIM CHRISTIAN CENTRE | ||||||
|---|---|---|---|---|---|---|---|
| Notes to the Financial Statements-continued | |||||||
| for the | Year Ended 31 December 2021 | ||||||
| 6. | TANGIBLE FIXED ASSETS | ||||||
| Fixtures | |||||||
| Plant and | and | Motor | Computer | ||||
| machinery | fittings | vehicles | equipment | Totals | |||
| £ | £ | £ | £ | £ | |||
| COST | |||||||
| At 1 January 2021 and | |||||||
| 31 December 2021 | 2,423 | 6,288 | 5,160 | 735 | 14,606 | ||
| DEPRECIATION | |||||||
| At 1 January 2021 | 1,238 | 6,112 | 3,527 | 636 | 11,513 | ||
| Charge for year | 296 | 44 | 408 | 25 | 773 | ||
| At 31 December 2021 | 1,534 | 6,156 | 3,935 | 661 | 12,286 | ||
| NET BOOK VALUE | |||||||
| At 31 December 2021 | 889 | 132 | 1,225 | 74 | 2,320 | ||
| At 31 December 2020 | 1,185 | 176 | 1,633 | 99 | 3,093 | ||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 31.12.21 | 31.12.20 | ||||||
| £ | £ | ||||||
| Other debtors | - | 3,292 | |||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 31.12.21 | 31.12.20 | ||||||
| £ | £ | ||||||
| Taxation and social security | (1,853) | (1,052) | |||||
| Other creditors | 2,766 | 1,550 | |||||
| 913 | 498 | ||||||
| 9. | MOVEMENT IN FUNDS | ||||||
| Net | |||||||
| movement | At | ||||||
| At 1.1.21 | in funds | 31.12.21 | |||||
| £ | £ | £ | |||||
| Unrestricted funds | |||||||
| General fund | 46,790 | 22,319 | 69,109 | ||||
| TOTAL FUNDS | 46,790 | 22,319 | 69,109 | ||||
| Net movement in funds, included in the above are | as follows: | ||||||
| Incoming | Resources | Movement | |||||
| resources | expended | in funds | |||||
| £ | £ | £ | |||||
| Unrestricted funds | |||||||
| General fund | 79,173 | (56,854) | 22,319 | ||||
| TOTAL FUNDS | 79,173 | (56,854) | 22,319 |
continued...
Page 8
PILGRIM CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.1.20 | in funds | 31.12.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 35,475 |
11,315 | 46,790 |
| TOTAL FUNDS 35,475 |
11,315 | 46,790 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 71,183 |
(59,868) | 11,315 |
| TOTAL FUNDS 71,183 |
(59,868) | 11,315 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.20 | in funds | 31.12.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 35,475 | 33,634 | 69,109 |
| TOTAL FUNDS | 35,475 | 33,634 | 69,109 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 150,356 | (116,722) | 33,634 |
| TOTAL FUNDS | 150,356 | (116,722) | 33,634 |
continued...
Page 9
PILGRIM CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 10
| PILGRIM CHRISTIAN CENTRE | ||
|---|---|---|
| Detailed Statement of Financial Activities | ||
| for the Year Ended 31 December 2021 | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 69,610 | 58,877 |
| Grants | 9,558 | 12,300 |
| 79,168 | 71,177 | |
| Investment income | ||
| Deposit account interest | 5 | 6 |
| Total incoming resources | 79,173 | 71,183 |
| EXPENDITURE | ||
| Charitable activities | ||
| Trustees' salaries | 10,322 | 10,322 |
| Trustees' pensions paid | 310 | 310 |
| Wages | 16,200 | 13,942 |
| Social security | - | 1,097 |
| Pensions | 486 | - |
| Speakers | 350 | - |
| Missionary support | 17,973 | 18,570 |
| Conference | 1,350 | 3,562 |
| Grants to institutions | - | 500 |
| Grants to individuals | 1,900 | 3,080 |
| 48,891 | 51,383 | |
| Support costs | ||
| Management | ||
| Rent | 1,030 | 2,200 |
| Printing, postage & stationery | 793 | 501 |
| Advertising | - | 200 |
| Other church costs | 3,028 | 721 |
| Motor expenses | 754 | 2,466 |
| Subscription | 200 | 205 |
| Computer cost | 496 | 279 |
| Plant and machinery | 296 | 394 |
| Fixtures and fittings | 44 | 58 |
| Motor vehicles | 408 | 544 |
| Computer equipment | 25 | 33 |
| 7,074 | 7,601 | |
| Finance | ||
| Bank charges | 159 | 144 |
| Governance costs | ||
| Accountancy and legal fees | 730 | 740 |
| Total resources expended | 56,854 | 59,868 |
| Net income | 22,319 | 11,315 |
| This page does not form part of the statutory financial statements | ||
| Page 11 |