Faith Temple Ministries (Faith Community Church) Charity: 1111208
Trustees Report and Accounts For the year ended 31 December 2022
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
| Contents | |
|---|---|
| Page | |
| Statutory Information | 3 |
| Trustees Report | 4 |
| Independent Examiners Report | 6 |
| Statement of Financial Accounts | 7 |
| Balance Sheet | 8 |
| Notes to the financial statements | 9 - 13 |
Charity Registration No: 1111208
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Faith Temple Ministries
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
Statutory Information
Faith Temple Ministries (operating as Faith Community Church) is a Charity registered with the Charity Commission of England and Wales - Registration No: 1111208
Faith Community Church operates as one Church with congregations meeting in Bedford and Cambridge
Registered Address 13 Bridle Drive Clapham, Bedford, MK41 6BB Charity Registration Number: 1111208
Responsible Persons
Mr Daniel Brown Senior Pastor and Leader Mrs Ivylyn Mullings Pastor Cambridge Congregation Mrs Melvena Henry Administration Bedford
Trustees
Mr Daniel Brown Chair/Trustee Mr Caron Stephen Trustee Darren Russell Trustee Peter Stapleton Trustee
Advisors Bishop J Francis Spiritual Delroy Smith Business Peter Nembhard Pastoral Glynne Rowland Educational
Independent Examiner and Finance Advisor
Mervyn Thomas
Bankers
NatWest, Bedford
Charity Registration No: 1111208
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Faith Temple Ministries
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
Annual Report for 2022
The Trustees present their Annual Report and financial statements for the Year ended 31 December 2022
Charitable Object
The objects of the trust are to advance the Christian faith in Bedford and other parts of the United Kingdom or the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the trust and to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
Organisational Structure and Decision-making processes
The responsible persons meet together as a Church Leadership Team to manage the Church as a whole. Each Congregation, in addition, has a congregational Leadership team to manage local meetings and ministry. The Trustees meet on at least 3 occasions in the year to consider Trust matters - mainly finance and the building project. The Church has policies covering Children, Vulnerable Adults, Health and Safety, Financial Reserves, Conflicts of Interest and Data Protection.
Public Benefit Statement
The Church provides opportunities for Christian worship on a weekly basis to which all members of the public are welcome. In addition, a number of activities for people of all ages are offered that are again open to the public and provide opportunities for the building of relationships and instruction in the essentials of the Christian faith. The church has been involved in supporting the homeless and other disadvantaged groups through food supplies, and children's activities, which range from moral to sports and art development. House and hospital visits that aim to support families and individuals as well as supporting other organisations that are involved in national and international aid support
Membership of the Church is open to all who profess Jesus Christ as Lord and Saviour and the principle of Believers’ Baptism by immersion is promoted among the membership and is continued by regular discipleship training that corresponds with St Matthew 28:19-20. The Trustees have read the Charity Commission guidance on public benefit, and are satisfied that the activities outlined above clearly demonstrate that the charity is meeting its purpose and is providing a benefit to the public.
Achievements in the year
Church meetings went on as normal for the year 2022, discipling believers, baptising and receiving new members into the FCC family.
As more and more venues became accessible again after the pandemic, we have been able to organise more social activities such a bowling night, a joint brunch with our Cambridge branch, a beach trip to Southend-on-Sea, a Family Fun Day and a Cultural Day to celebrate the diversity in our community. A picnic day in the summer and Christmas gathering and fellowship meal. We have also enjoyed several joint services with various churches in Bedford over the years.
Due to the pressure of our building project, we have been concentrating our efforts on sponsoring local charities, supporting families, single parents, vulnerable individuals and older people who have been struggling with the rise in the cost of living, by providing shopping, helping with energy bills and arranging services such as physiotherapy or housekeeping. We also sent £300 to the Turkey Earthquake Appeal.
Charity Registration No: 1111208
Faith Temple Ministries
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Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
This year, our social media presence has undergone a revamp: we now have accounts on all major social media platforms, which helps make the Organisation and its activities much more visible.
We are also launching a brand-new website on 1[st] January 2023 which will give a better reflection of who we are and what we do and convey our vision, plans and initiatives much more effectively.
The above activities are largely led and staffed by our volunteers: without their commitment and sacrificial giving of their time, the Organisation would be unable to function.
The Church’s policy is to hold not more than 3 months of committed charitable expenditure as a General Reserve. From time to time, the trustees will transfer General Reserves to Restricted Reserves to the Building Fund, when possible.
Volunteers
The above activities are largely led and staffed by volunteers, and the church would be unable to function without their commitment and often sacrificial giving of time.
Plans for 2023
Our main task for 2023 is to continue our building programme, bringing phase 1 to a conclusion in 2024.
Financial Review
During 2022 the Church received an income of £51,459 (2021 £49,900) Expenditure in the year was £112,805 ( 2021 £75,871) the increase resulting from expenditures on the redevelopment of the Clapham Road site which was £80,046 (2021 £46,823)
At the end of the year, Net Assets less Liabilities was £89,807 (2021 £151,153) The reduction in Net Assets is due to the Church taking on a mortgage which now stands at £88,960
The principal source of funds is the freewill offerings and tithes of our members.
We are also in grateful receipt of donations and grants from other Churches and Institutions relating to our proposed building refurbishment.
Current expenditure is focused on renting buildings to hold the relevant meetings, training and conferences necessary for our organisation to deliver its mandate of charitable giving.
We remunerate the Senior and local Pastors in small amounts for the heavy amount of administrational and pastoral responsibilities being undertaken.
Other expenses are to support the mechanisms of running the Organisation.
Reserves Policy:
Our free reserves at 31st December 20221 are £17,464 plus a designated reserve of £6,000 as the commencement to provide for permanent accommodation at Cambridge.
Our reserves policy is to hold a minimum of 3 months' general expenditure as free reserves in the general account and to designate any accumulated excess to our designated Buildings reserve fund. As the current building development comes to a conclusion the asset
will be revalued with a positive impact on reserves.
Charity Registration No: 1111208
Faith Temple Ministries
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Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
Approved by the Trustees and signed on their behalf.
Danie�Brow� 08 February 2022
Charity Registration No: 1111208
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Faith Temple Ministries
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF Kingdom Impact Grants
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2022 which are set out on pages 7 – 13
Responsibilities and basis of report
As the charity's trustees 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 charity’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
I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination which gives me cause to believe that in, any material respect:
-
1) the accounting records were not kept in respect of the charity as required by section 130 of the Act;
-
2) accounts do not accord with those records, or
-
3) the accounts do not comply with the applicable requirements concerning the form and content of account as 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.
Signed:
Mervyn Thomas 128 Putnoe Lane Bedford MK41 8LS
Dated: 20/01/2023
Charity Registration No: 1111208
Faith Temple Ministries
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Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
STATEMENT OF FINANCIAL ACTIVITIES at 31st. December 2022
| Notes Incoming Resources Voluntary Income Income from Investments Total Incoming Resources 3 Resources Expended Charitable activities Total Resources Expended 4 Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Restricted Capital Total Funds Total Funds Funds Fund Fund 2022 2021 £ £ £ £ £ |
|---|---|
| 42,510 8,795 - 51,305 49,895 |
|
| - 154 - 154 5 |
|
| 42,510 8,949 - 51,459 49,900 |
|
| 32,759 80,046 - 112,805 60,909 |
|
| 32,759 80,046 - 112,805 75,871 |
|
| 9,751 (71,097) - (61,346) (25,971) |
|
| (11,232) 12,046 (814) - - |
|
| (1,481) (59,051) (814) (61,346) (25,971) |
|
| 24,945 51,085 75,123 151,153 177,124 |
|
| 23,464 (7,966) 74,309 89,807 151,153 |
Continued.
Charity Registration No: 1111208
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Faith Temple Ministries
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
BALANCE SHEET at 31st. December 2022
| Notes Fixed assets 5 Property Equipment Total fixed assets Current assets HMRC Debtor 6 Cash at bank and in hand Total current assets Liabilities < 1 Year 7 Liabilities > 1 Year Total Net Assets less liabilities Represented by: Charity Funds 8 Endowment funds Restricted income funds Unrestricted funds Total funds |
Unrestricted Restricted Capital Total Total funds funds fund 2022 2021 £ £ £ £ £ |
|---|---|
| - - 71,866 71,866 71,866 |
|
| - - 2,443 2,443 3,257 |
|
| - - 74,309 74,309 75,123 |
|
| 2,527 - - 2,527 3,496 |
|
| 21,912 80,994 - 102,906 74,658 |
|
| 24,439 80,994 74,309 105,433 78,154 |
|
| (975) - - (975) (2,124) |
|
| - (88,960) - (88,960) |
|
| 23,464 (7,966) 74,309 89,807 151,153 |
|
| 74,309 74,309 71,866 |
|
| (7,966) (7,966) 51,085 |
|
| 23,464 23,464 28,202 |
|
| 23,464 (7,966) 74,309 89,807 151,153 |
Approved by the Trustees and signed on their behalf.
Danie�Brow� 15 February 2022
Charity Registration No: 1111208
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Faith Temple Ministries
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
Notes to the Financial Statements
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1.1 General information and basis of preparation
Faith Temple Ministries is a Charitable Trust in England in England.
The accounts (financial statements) have been prepared in accordance with the 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 issued in October 2019 (FRS 102), the Charities Act 2011 and the UK Generally Accepted Accounting Practice.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are prepared on a going concern basis under the historical cost convention. The accounts are presented in sterling which is the functional currency of the charity and are rounded to the nearest whole £.
1.2 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
2. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.
2.1 Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Transfers are made from unrestricted to restricted funds as necessary to prevent restricted funds from going into deficit.
2.2 Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income if it is more likely than not that it will receive the resources and the amount can be quantified with reasonable accuracy. Voluntary income is received by way of donations and gifts and is included in full in the SoFA when receivable. Grants are included in the SoFA when the general income recognition criteria above are met. The value of services provided by volunteers has not been included in these accounts. Investment income is included when received.
2.3 Resources expended
Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT that cannot be fully recovered, which is reported as part of the expenditure to which it relates.
Charity Registration No: 1111208
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Faith Temple Ministries
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the charity’s legal constitution.
2.4 Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amounts advanced by the charity. Subsequently, they are measured at cash or other consideration expected to be received.
2.5 Creditors
Creditors and accruals are recognized when liability for payment is recognized but not paid
3.1 ANALYSIS OF INCOME in Current Year 2022
| Unrestricted Restricted Capital Total Funds Total Funds Funds Funds Fund 2022 2,021 £ £ £ £ £ 35,616 7,157 - 42,773 41,954 6,894 1,638 - 8,532 7,941 42,510 8,795 - 51,305 49,895 |
|
|---|---|
| Voluntary Income | |
| Donations | |
| Gift Aid | |
| Total Voluntary Income | |
| Income from Investments | - |
| Interest | 154 - - 154 5 |
| Total Income from Investments | 154 - - 154 5 42,664 8,795 - 51,459 49,900 |
| Grand Total Incoming Resources |
3. 2 ANALYSIS OF INCOME - Comparative numbers for 2021
| Unrestricted Restricted Endowment Total Funds Total Funds Funds Funds Fund 2021 2020 £ £ £ £ £ 34,467 7,487 - 41,954 31,764 6,607 1,334 - 7,941 3,638 41,074 8,821 - 49,895 35,402 |
|
|---|---|
| Voluntary Income | |
| Donations | |
| Gift Aid | |
| Total Voluntary Income | |
| Income from Investments | - |
| Interest | 1 4 - 5 35 |
| Income Julien Investments | - - - - 651 1 4 - 5 686 |
| Total Income from Investments | |
| Grand Total Incoming Resources | 41,075 8,825 - 49,900 36,088 |
Charity Registration No: 1111208
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Faith Temple Ministries
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
4.1 ANALYSIS OF EXPENDITURE in Current Year 2022
| Unrestricted Restricted Capital Total Funds Total Funds Funds Funds Fund 2022 2021 |
|
|---|---|
| Expenditure on Charitable Activities | |
| £ £ £ £ £ |
|
| Pastoral Remuneration | 9,880 9,880 10,450 150 150 300 4,115 4,115 4,936 4,936 5,118 3,198 3,198 5,002 4,087 4,087 3,244 2,499 73,300 75,799 31,861 - 1,980 1,980 291 291 150 814 814 142 - 4,766 4,766 222 50 50 370 2,229 2,229 698 20 20 3,352 225 225 265 265 - |
| Visiting Ministry | |
| Travel and Training | |
| Premises Rent | |
| Costs of Meeting | |
| Office, Licenses and Fees | |
| Expensed Building Development | |
| Professional property fees | |
| Equipment and Repairs | |
| Equipment Depreciation | |
| Mortgage Interest and Fees | |
| Pastoral | |
| Donations (Out) | |
| Bank Charges | |
| Independent Examiination | |
| Publicity | |
| TOTAL EXPENDITURE | 32,759 80,046 - 112,805 60,909 |
4. 2 ANALYSIS OF EXPENDITURE - Comparative numbers for 2021
| Unrestricted Restricted Endowment Total Funds Total Funds Funds Funds Fund 2021 2020 |
|
|---|---|
| Expenditure on Charitable Activities | |
| £ £ £ £ £ |
|
| Pastoral Remuneration | 10,450 10,450 13,040 300 300 1,004 5,118 5,118 4,139 5,002 5,002 465 3,244 3,244 951 - 31,861 31,861 2,295 150 150 774 142 142 370 370 1,354 698 698 3,352 3,352 1,382 222 222 |
| Visiting Ministry | |
| Premises Rent | |
| Costs of Meeting | |
| Office, Licenses and Fees | |
| Expensed Building Development | |
| Equipment and Repairs | |
| Equipment Depreciation | |
| Pastoral | |
| Donations (Out) | |
| Conferences, training, travel | |
| Bank and Mortgage Fees | |
| TOTAL EXPENDITURE | 29,048 31,861 - 60,909 25,404 |
Charity Registration No: 1111208
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Faith Temple Ministries
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
4.3 Expenditure Disclosures
No employees received salaries or employee benefits (excluding employer pension costs) for the reporting period of more than £60,000
Employment consisted of 2 part-time pastors who were engaged to maintain charitable activities.
No Trustee received expenses in connection with Trustee governance responsibilities.
The Independent examiner provided accounting services and systems in addition to the independent examination
| 5. FIXED ASSETS | |||
|---|---|---|---|
| 2022 2022 |
2021 2021 |
||
| Freehold Land Equipment |
Freehold Land Equipment |
||
| and Buildings | and Buildings | ||
| Cost or valuation | £ £ |
£ £ |
|
| Brought Forward | 71,866 3,399 |
71,866 - |
|
| Disposals | - - |
- - |
|
| Additions | - - |
- 3,399 |
|
| Carried Forward | 71,866 3,399 |
71,866 3,399 |
|
| Cumulative Depreciation at Rate: Brought Forward Depreciation In the year Carried Forward Net Fixed Assets |
Not Depreciated 25% 142 814 956 71,866 2,443 |
Not Depreciated 25% - 142 142 |
|
| 71,866 3,257 |
|||
| 2021 £ 3,496 3,496 2021 750 1,374 2,124 2021 - Page 13 |
|||
| 6. DEBTORS AND PREPAYMENTS | |||
| 2022 | |||
| Analysis of debtors less than 1 year | £ | ||
| Gift Aid Receivable | 2,527 | ||
| Total | 2,527 | ||
| 7.1 LIABILITIES < 1 Year | |||
| 2022 | |||
| Accruals | 975 | ||
| Trade Creditors | - | 1,374 | |
| Total | 975 | ||
| 7.1 LIABILITIES > 1 Year | |||
| 2022 | |||
| Mortgage | 88,961 |
Faith Temple Ministries Trustees Report and Financial Statements Year ending December 31st. 2022
8. CHARITY FUNDS
8.1 Details of All Funds with movements during the CURRENT reporting period 2022
| Fund | Opening Income Expenditure Transfers Closing |
|---|---|
| Balance Balance |
|
| Bedford | 15,961 17,506 (15,346) (11,232) 6,889 |
| Cambridge | 8,984 25,004 (17,413) (6,000) 10,575 |
| Cambridge Designated Total Unrestricted Funds Building Project (Restricted) |
- - - 6,000 6,000 |
| 24,945 42,510 (32,759) (11,232) 23,464 |
|
| 51,085 8,949 (80,046) 12,046 (7,966) |
|
| Capital | 75,123 - - (814) 74,309 |
| Total Funds | 151,153 51,459 (112,805) - 89,807 |
8.2 Explanation of Transfers during the CURRENT reporting period 2022
| From | To | Amount | |
|---|---|---|---|
| Depreciation of Bedord Equipment | Capital | Bedford | £814 |
| Balance sheet adjustments | Bedford | Building Project | £12,046 |
| Trustees Designation | Cambridge | Cambridge Designated | £6,000 |
8.3 Details of All Funds with movements during the PREVIOUS reporting period 2021
| Opening | Closing | ||||
|---|---|---|---|---|---|
| Fund names | Balance | Income | Expenditure | Transfers | Balance |
| £ | £ | £ | £ | £ | |
| Unrestricted Funds | 16,175 | 41,075 | (29,048) | - | 28,202 |
| Restricted Building Fund | 89,083 | 8,825 | (46,823) | - | 51,085 |
| Endowment Fund | 71,866 | - | - | - | 71,866 |
| Total Funds | 177,124 | 49,900 | (75,871) | - | 151,153 |
Charity Registration No: 1111208
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Faith Temple Ministries