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2020-12-31-accounts

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The Josiah Trust
(A company limited by guarantee)
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Directors’ Report and Accounts

Year ended: 31 December 2020

FOR THE YEAR ENDED 31 DECEMBER 2020

COMPANY INFORMATION

Directors and Trustees Mr M Underhill, Chair (appointed 2012) Miss H Lyons, Treasurer (appointed 2013) Rev R Moul (appointed 2015) Miss D Kelly (appointed 2015) Mr M Sweeting (appointed 2018) Company Secretary Mrs G Harvey, Secretary (appointed 2013) Governing Document Memorandum and Articles of Association Registered Office 28 Monkhams Avenue Woodford Green IG8 0EY Company Registration Number 5322595 Charity Registration Number 1109230 Independent Examiner Mr Matthew Harrison 40 Holdbrook Way Harold Wood Essex, RM3 0JD Bankers Santander, Bootle, Merseyside, L30 4GB Virgin Money plc, Jubilee House, Gosforth, Newcastle upon Tyne, NE3 4PL Solicitors Glynis Mackie 29a Princes Road Newcastle upon Tyne, NE3 5TT

Status

The directors of the company (“the Trust”) are its Trustees for the purpose of charity law and throughout this report are referred to as “the Trustees”.

The Josiah Trust is a charitable company limited by guarantee, incorporated on 30 December 2004, and registered as a charity on 26 April 2005.

The Josiah Trust was established under a Memorandum of Association, which established its objects and powers. It is governed under its Articles of Association.

Josiah Trust Report & Financial Statements 2020

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Contents

Contents Page
Legal and administrative information 2
Chairman’s Report 4-6
Report of the Independent Examiner
Accounts for year ending 31 December 2020:
I
Balance sheet		 A1
II Statement of income and expenditure A2

Josiah Trust Report & Financial Statements 2020

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Chairman’s Report

This is the sixteenth annual report of the Josiah Trust. It reports our activities and includes financial statements for the year ending 31 December 2020.

Objects of the Charity

The overarching purpose of the charity is the advancement of the Christian faith. Our activities are therefore directed to supporting Christian ministry in various forms. In practice, Christian ministry means both making available the message of the Christian gospel to people of all backgrounds in the community and wider society (evangelism), and the teaching, pastoring and nurture of Christians. Our understanding of historic, scriptural, orthodox Christianity is summarised in the doctrinal basis set out in our Articles. The charity supports activity conforming to that basis, principally by making grants.

The formation of the charity in 2004 arose from the collective wish of a group of individuals at Christ Church Leyton (‘CCL’) to provide for biblical Christian ministry at Christ Church itself. It remains the case that the Trust’s donors were members and/or supporters of CCL giving to the Trust to enable its continued support of ministry work at CCL. We are satisfied that CCL continues to pursue the advancement of the Christian faith consonant with our Objects.

In 2019 we published a brochure outlining the work of the Trust to ensure people are clear about its aims and to encourage new giving.

Government

The policy and operating decisions of the charity rest with the Trustees who meet regularly to monitor the activities of the Company. Trustees can recommend the appointment of new Trustees.

Review of Activities during 2020

CCL remained the central project of the Trust through 2020.

The Trust provided monthly and occasional grants to CCL over the year as usual to support ministry.

The Trust also supports a range of other Christian mission causes in the UK and overseas that are consistent with our objects. In order to reduce administrative overheads, the Trust does so in joint enterprise with CCL. The CCL PCC and the Trustees consider in turn a balanced spread of external mission causes of various types in the UK and overseas, and, subject to Trustees’ approval, 10% of grants from the Trust to CCL (together with 10% of CCL’s other income) is disbursed to those causes during the year. These are further detailed under ‘Public Benefit’ below.

Financial Review

Josiah Trust Report & Financial Statements 2020

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Total income to the Trust in 2020 was £22,049.70 less than expenditure. This was planned expenditure to enable CCL to continue employing an additional Assistant Minister until the end of August.

The final balance of £73,051.68 shows that, despite this additional expenditure, the reserves remain healthy. We expect that there will be an increase in the monthly grant to CCL in 2021 which could involve further demands on the reserves.

The only administrative expenses were for the examination of the accounts and annual fee to Companies House. The Trustees and officers received no remuneration, expenses, payments or benefits of any kind. There are no premises and no administrative staff. Overheads this year were 0.4% of income, leaving 99.6% of income for use in pursuit of our Objects.

Public Benefit

In planning the activities, the Directors have had regard to the guidance on public benefit issued by the Charity Commission. The Trust has operated to date as a grant-making charity, occasionally also providing equipment, to assist with the provision of public services. The public benefit that arises from the Josiah Trust’s activities – essentially providing material support to our causes – is a proper concern for our Trustees.

Christ Church Leyton – our principal cause – provides a range of activities open to the public and is active in reaching out to the surrounding community. The specific ways in which the Josiah Trust’s material support has continued to bring public benefit through the advancement of the Christian faith during 2020 include:

Support for CCL in 2020 helped to enable the regular running of English language classes and a Mothers’ and Toddlers’ group for members of the public to attend free of charge, though some activities have had to close for part of the year to comply with COVID regulations.

In addition, in partnership with Christ Church Leyton, the Trust supported a broad and balanced range of wider Christian mission causes delivering a range of public benefit, including:

Josiah Trust Report & Financial Statements 2020

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Reserves Policy

The Trustees have established a policy whereby free reserves held by the charity should be maintained at a level sufficient to cover unexpected costs. The main points of the Policy remain:

Risk Statement

The Trustees regularly review the risks to which a small charity operating with no employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.

Trustees’ Responsibilities

Charity law requires us as Trustees to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year.

  1. Select suitable accounting policies and apply them consistently

  2. Make judgements and estimates that are reasonable and prudent

  3. State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.

  4. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

We are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable us to ensure that the financial statements comply with the Companies Act 2006.

We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.

Changes in Trustees

The rules require that one third of the Trustees resign each year. Gaynor Harvey and Matthew Sweeting resigned and were willing to stand again. They were re-elected.

Mark Underhill was re-appointed as Chairman and Helen Lyons as Treasurer.

Approval

This report was approved by the Trustees on 15[th] July 2021 and signed on their behalf by:

Signed:

Mr M Underhill, Chairman

Josiah Trust Report & Financial Statements 2020

THE JOSIAH TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 December 2020 Respectlve responsibillties of trustees and examlner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit Is not required for thls year under section 144 of the Charitles Att 2011 (the Charities Act) and that an independent examlnation is needed. It is my responsibility to.. examine the accounts under section 145 of the Charitles Act, to follow the procedures laid down in the general Directlons given by the Charlty Commission lunder section 1451Sllbl of the Charities Actl, and to state whether partlcular matters have come to my attention. Basls of independent examlnerfs statement My examlnation wa5 carried out in accordance with General Dlrectlon5 ghjen by the Charity Commis5Ion. An examination includes a review of the accounting records kept by the charlty and a comparison of ihe accounts presented wlth those records. It a150 includes consideratlon of anv unusual items or dSsclosures In the accounts, and seeking explanations from the trustees concernlng any such matters. The procedures undertaken do not provlde all the evldence ihat would be required in an audit, and consequently no opinion is given as to whether the accounts present 'true and falr, view and the report 15 Ilmlted to those matters set out In the statement below. Independent examlnerfs ststement In connection wlth my examlnation, no matter has come to my attention which gives me reasonable cause to believe that In, any materlal respect, the requlrements.. to keep accountin8 records in accordante with sectlon 130 of the Charltles Act,. and to prepare accounts which accord with the accounting records and comply with the accountln8 requirements of the Charities Act have not been met,. or to which, Sn my opinion, attention should be drawn In order to enable a proper understanding of the accounts to be reached. Signed: Matthew Harrlson Address.. Dote.. .Z•ZI

THE JOSIAH TRUST

Balance Sheet as at 31 December 2020

2019
£
24,414.67
70,686.71
95,101.38
95,101.38
95,101.38		 2020
£
Assets
Cash at Bank
Current Account
17,040.67
Deposit Account
56,011.01
Net Assets
73,051.68
Represented by:-
General Fund
73,051.68
73,051.68

For the year ending 31/12/2020 the company was entitled to exemption from audit under section 477 (2) of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for:

i) ensuring the company keeps accounting records which comply with Section 386; and

ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company.

Signed: ………………………………………. H Lyons Treasurer

A1

THE JOSIAH TRUST

Income & Expenditure Account for the year ended 31 December 2020

2019
£
65,910.00
11,312.03
639.05
0.00
7,500.00
1,875.00
87,236.08
60,750.00
9,375.00
9,000.00
4,500.00
8,250.00
91,875.00
0.00
75.35
75.35
91,950.35
-4,714.27
99,815.65
95,101.38		 2020
£
Income
Donations (General)
56,290.00
Income Tax refunded (General)
10,399.00
Bank Interest
324.30
Donations for Window Repairs
1,200.00
Donation for Assistant Minister
0.00
Income tax refunded AM
0.00
Total Income
68,213.30
Less Expenditure
Grants
Christ Church Leyton - Staff salaries
81,000.00
Assistant Minister restricted grant
0.00
Resolution 62 grant (see note 1 below)
0.00
Resolution 64 grant (see note 2 below)
0.00
Other Mission Causes (see note 3 below)
9,000.00
90,000.00
Administration
Trustees' Expenses
0.00
Miscellaneous Fees & expenses
263.00
263.00
Total Expenditure
90,263.00
Net Surplus/Deficit for the Year
-22,049.70
Balance Brought Forward
95,101.38
Current Balance
73,051.68		 2020
£
56,290.00
10,399.00
324.30
1,200.00
0.00
0.00
68,213.30
81,000.00
0.00
0.00
0.00
9,000.00
90,000.00
0.00
263.00
263.00
90,263.00

There are no gains or losses other than the surplus or deficit for the year.

A2