Charity number: 1111084
THE CHURCH IN READING
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
THE CHURCH IN READING
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 15 |
THE CHURCH IN READING
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees
M K Zohrehie (resigned 27 September 2021) S Tait
Charity registered number
1111084
Principal office
5 Kelburne Close Winnersh Wokingham RG41 5JG
Independent examiner
C P J Dougherty FCA Lakin Rose Limited Chartered Accountants Pioneer House Vision Park Histon Cambridge CB24 9NL
Page 1
THE CHURCH IN READING
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their annual report together with the financial statements of The Church in Reading for the 1 January 2020 to 31 December 2020.
Objectives and activities
a. Policies and objectives
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.
The charity is constituted under a Charity Commission Scheme and is a registered charity number 1111084.
The Church in Reading’s main objective is to advance the Christian faith in accordance with our Statement of Faith. This Statement of Faith states that the Church is the pillar and base of the truth of the faith as revealed in the Bible. The truth is concerning the Bible being the complete and inspired Word of God, concerning:
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God being triune, the Father, the Son and the Spirit
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the completeness and efficacy of the redemptive work of Jesus Christ
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the work of the Holy Spirit in and upon the believers for their complete salvation
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the oneness of the Body of Christ both universally and in its expression locally
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the hope in the Lord’s return at the end of this age, and
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the ultimate consummation of God’s purpose in the New Jerusalem in eternity
b. Activities for achieving objectives
This is achieved by:
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the preaching of the gospel
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the spiritual nourishment of the new believers
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the perfecting of all believers to be living, functioning members in the Body of Christ
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holding meetings for prayer, remembrance of the Lord and for prophesying unto mutual encouragement, exhortation and building up
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seeking to raise up and support full time workers
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supporting works to spread the gospel, both locally and abroad
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by regular and frequent fellowship with other churches throughout the earth for the practical keeping of the oneness of the Body of Christ universally.
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THE CHURCH IN READING
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Achievements and performance
a. Review of activities
Due to the Covid-19 pandemic and the national restrictions issued by the government, the regular weekly meetings of the Church in Reading were held online rather than in person from March onwards. While this was a significant change, there were several positive outcomes, including higher attendance at the prayer meeting, new attendees from other parts of the country and even abroad, and opportunities for members to join international conferences online. While certain activities were limited due to pandemic, the Church in Reading has continued to carry out its main function, albeit through different means such as one on one bible studies over the phone and mutual perfecting in small group meetings on Zoom. During a window of reduced restrictions in the Autumn, we were also able to distribute Bibles and free Christian Literature at the University of Oxford. Our net income was not severely affected as donations were still received via bank transfer and our costs were reduced since we no longer needed to hire facilities for physical meetings. Through the continued giving of the members of the Church in Reading, we have been able to continue providing financial support to full-time serving ones, as well as making donations to members in need. We have also continued to help members who are having difficulties personally or spiritually and to provide spiritual counselling to one another for our mutual growth.
A summary of the main achievements during this time:
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Online meetings using video conferencing technologies
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Phone bible studies
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Participation in international conference online
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Distribution of Bibles and Christian literature
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Caring for the church members personally, financially, and spiritually
The Church in Reading as the local expression of the universal church has as its aim the building up of the Body of Christ which extends beyond the local area. If there are opportunities to participate in the Lord's move on the earth, the Church in Reading will from time to time seize the opportunity.
Financial review
a. Going concern
After making appropriate enquiries, the 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 financial statements. Further details regarding the adoption of the going concern basis can be found in Note 12.
b. Financial Review
The Statement of Financial Activities covers the year to 31 December 2020. The results of the year's operations are set out in the attached financial statements. The net inflow of funds for the year amounted to £25,439 (2019 - £5,601) . The retained reserves at 31 December 2020 amount to £40,353 (2019 - £14,914) .
c. Reserves policy
It is the intention of the Trustees to maintain the charity's reserves in a cash fund
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THE CHURCH IN READING
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management
a. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co opted under the terms of the Trust Deed dated 26 May 2005.
b. Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members' liability
The Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. 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 of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 business.
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 order of the members of the board of Trustees on 17.01.2022 and signed on their behalf by:
S Tait Trustee
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THE CHURCH IN READING
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
Independent examiner's report to the Trustees of The Church in Reading ('the charity')
We report to the charity Trustees on our examination of the accounts of the charity for the year ended 31 December 2020.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
We report in respect of our examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us 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 2011 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.
We 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.
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THE CHURCH IN READING
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an independent examiner's 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 charity and the charity's Trustees as a body, for our work or for this report.
Signed: Dated: 18 January 2022
C P J Dougherty FCA
Lakin Rose Limited
Chartered Accountants
Pioneer House Vision Park Histon Cambridge CB24 9NL
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THE CHURCH IN READING
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Note Income from: Donations 3 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2020 £ 50 50 50 50 - - - - |
Unrestricted funds 2020 £ 45,109 45,109 19,670 19,670 25,439 14,914 25,439 40,353 |
Total funds 2020 £ 45,159 45,159 19,720 19,720 25,439 14,914 25,439 40,353 |
Total funds 2019 £ 33,751 |
|---|---|---|---|---|
| 33,751 | ||||
| 28,150 | ||||
| 28,150 | ||||
| 5,601 | ||||
| 9,313 5,601 |
||||
| 14,914 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 15 form part of these financial statements.
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THE CHURCH IN READING
BALANCE SHEET AS AT 31 DECEMBER 2020
| Note Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total net assets Charity funds Unrestricted funds 10 Total funds |
17,101 25,291 42,392 (2,039) |
2020 £ 40,353 40,353 40,353 40,353 |
- 17,346 17,346 (2,432) |
2019 £ 14,914 |
|---|---|---|---|---|
| 14,914 | ||||
| 14,914 | ||||
| 14,914 |
The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by:
17.01.2022
S Tait Trustee
The notes on pages 9 to 15 form part of these financial statements.
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THE CHURCH IN READING
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. General information
The Church is Reading is an unincorporated charity. The principal office address is 5 Kelburne Close, Winnersh, Wokingham, RG41 5JG.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Church in Reading meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2.3 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 receivable can be measured reliably.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
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THE CHURCH IN READING
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
2.4 Expenditure (continued)
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Cash Flow
The financial statements do not include a statement of cash flows because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Statements 102.
3. Income from donations
| Donations Total 2019 |
Restricted funds 2020 £ 50 200 |
Unrestricted funds 2020 £ 45,109 33,551 |
Total funds 2020 £ 45,159 33,751 |
Total funds 2019 £ 33,751 |
|---|---|---|---|---|
4. Analysis of expenditure by activities
| Promotion of the Christian Faith Total 2019 |
Activities undertaken directly 2020 £ 17,160 17,666 |
Grant funding of activities 2020 £ 250 3,835 |
Support costs 2020 £ 2,310 6,649 |
Total funds 2020 £ 19,720 28,150 |
Total funds 2019 £ 28,150 |
|---|---|---|---|---|---|
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THE CHURCH IN READING
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
4. Analysis of expenditure by activities (continued)
Analysis of direct costs
Full time support Total 2019 Analysis of support costs Training Room hire Governance costs Total 2019 |
Promotion of the Christian Faith 2020 £ 17,160 17,666 Promotion of the Christian Faith 2020 £ 195 941 1,174 2,310 6,649 |
Total funds 2020 £ 17,160 17,666 Total funds 2020 £ 195 941 1,174 2,310 6,649 |
Total funds 2019 £ 17,666 |
|---|---|---|---|
| Total funds 2019 £ 1,132 4,497 1,020 |
|||
| 6,649 | |||
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THE CHURCH IN READING
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
5. Analysis of grants
| Grants Total 2019 |
Grants to Institutions 2020 £ - 1,100 |
Grants to Individuals 2020 £ 250 2,735 |
Total funds 2020 £ 250 3,835 |
Total funds 2019 £ 3,835 |
|---|---|---|---|---|
6. Independent examiner's remuneration
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the independent | ||
| examination of the charity's annual accounts | 1,020 | 1,020 |
7. Trustees' remuneration and expenses
During the year ended 31 December, no Trustees received any remuneration or other benefits (2019 - £NIL) .
During the year ended 31 December 2020, no Trustee expenses have been incurred (2019 - £NIL) .
8. Debtors
| Due within one year Other debtors Creditors: Amounts falling due within one year Accruals and deferred income |
2020 £ 17,101 17,101 2020 £ 2,039 |
2019 £ - |
|---|---|---|
| - | ||
| 2019 £ 2,432 |
9. Creditors: Amounts falling due within one year
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THE CHURCH IN READING
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
10. Statement of funds
Statement of funds - current year
| Balance at 31 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at 1 | December | ||||||||
| January 2020 | Income | Expenditure | 2020 | ||||||
| £ | £ | £ | £ | ||||||
| Unrestricted funds | |||||||||
| General Funds 14,914 |
45,109 | (19,670) | 40,353 | ||||||
| Restricted funds | |||||||||
| Bible Distribution - |
50 | (50) | - | ||||||
| Total of funds 14,914 |
45,159 | (19,720) | 40,353 | ||||||
| The Bible Distribution fund represents donations towards | the costs of | gospel | activities and bible | ||||||
| distribution. | |||||||||
| Statement of funds - prior year | |||||||||
| Balance at | Balance at | ||||||||
| 1 January | 31 December | ||||||||
| 2019 | Income | Expenditure | 2019 | ||||||
| £ | £ | £ | £ | ||||||
| Unrestricted funds | |||||||||
| General Funds 9,313 |
33,551 | (27,950) | 14,914 | ||||||
| Restricted funds | |||||||||
| Student Support - |
200 | (200) | - | ||||||
| Total of funds 9,313 |
33,751 | (28,150) | 14,914 |
The Student Support fund represents donations to enable students to attend a conference.
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THE CHURCH IN READING
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
11. Summary of funds
Summary of funds - current year
General funds Restricted funds Summary of funds - prior year General funds Restricted funds |
Balance at 1 January 2020 £ 14,914 - 14,914 Balance at 1 January 2019 £ 9,313 - 9,313 |
Income £ 45,109 50 45,159 Income £ 33,551 200 33,751 |
Expenditure £ Balance at 31 December 2020 £ (19,670) 40,353 (50) - (19,720) 40,353 Expenditure £ Balance at 31 December 2019 £ (27,950) 14,914 (200) - (28,150) 14,914 |
|---|---|---|---|
12. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 42,392 (2,039) 40,353 |
Total funds 2020 £ 42,392 (2,039) 40,353 |
|---|---|---|
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THE CHURCH IN READING
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
12. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Current assets Creditors due within one year Total |
Unrestricted funds 2019 £ 17,346 (2,432) 14,914 |
Total funds 2019 £ 17,346 (2,432) 14,914 |
|---|---|---|
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