ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
IRANIAN CHRISTIAN FELLOWSHIP
CHARITY REGISTRATION No: 1112074
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
IRANIAN CHRISTIAN FELLOWSHIP
| CONTENTS | |
|---|---|
| Page 3 | Legal and Administrative Information |
| Page 4 | Independent Examiner's Report to the Trustees |
| Page 5 | Trustees' Report |
| Page 6 | Statement of Financial Activities |
| Page 7 | Balance Sheet |
| Pages 8 to 12 | Notes to the Financial Statements |
IRANIAN CHRISTIAN FELLOWSHIP
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1112074 DATE OF REGISTRATION 16th November 2005 START OF FINANCIAL YEAR 1st January 2022 END OF FINANCIAL YEAR 31st December 2022 TRUSTEES AT 31ST DECEMBER 2022 Dr Charles Gogbashian Mr Malcolm Steer Rev Samuel Bazmjou Dr Mehidad Fatehi Rev Mansour Borji
The existing trustees appoint any new trustees following the provisions laid out in the organisation's governing instrument.
LEGAL STATUS Unincorporated Entity
GOVERNING INSTRUMENT Constitution Adopted 26th November 1964 as Amended on 11th September 2005.
OBJECTS
To advance the Christian Religion for the benefit of the public in accordance with the Statement of Faith set out in the Constitution.
CORRESPONDENCE ADDRESS 158 Sutton Court Road London W4 3HR PRIMARY BANKERS Barclay Bank Plc 1 Churchill Place London E14 5HP
INDEPENDENT EXAMINERS
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Rewrt to the truste861 mèmter5 of the Iranian Christian Fellov**tiP the accounts for the year ended 31st December 2022 $8t out on pages 6 to 12. R8sp8ctl¥e r•sponbIlItI•9 of tru8to08 and •Jr•mln•r Tho organi5ation's trustees are reSpM$itr for wratIon of the lJnts. The organisab"on's trust consider that an audit is not ruIr for this year under the charit Act 2011 8n¢J that an irKleperKlenl examination is needed. It Is my re$ponslblllty to: ' exami thè Iccounts lunder tion 4313118) of the Act. as arnended).. . follow the procedures laid dts in Ihe General ThrtIO giv¢n ty the Charty Commissioner5 (under ¥ection 4317llbl of the Act. as amondodl.. and ' slate whether partKukgr matters hav& io my atten1K. Ball• ol Ind•ndnt grnIn• •tst•m•nt My gxamlnatlon was carri•d OLrt in accordance vthh otior givgn by the Charlty Commis$iontrs. An examination includ8s a fgvigw of the accounting records kept by th& org8nwik)n and a comparison of the accounts presented with those records. It also indth con5ideratw of any unusual It8ms or disrJ05ur8s In the accounts. and seeking explanations fvom Ihe trustees conceming any su¢h mattets. The pr¢xedures undertaken do not Pfovide all thè evidence that would bo f8qulrgd in an audrt, and consequentty no ¢)piftn is gNen as to vthether th6 acLounts prèsènt a 'true and falr yw, and thg r¢port Is limited to Ihose maitws 8•t out in the stslement below. Indop•nd•nt •xamln•rf• •tst•m•nt In nn8On wllh my &xaminalkJn, matter ha$ to my attention.. whlch glves m& reasona Cause io believe that In any Malaal respect the requirement5: . to keep accounling records in ¥¢Ordan th seclion 41 of the 1993 Act,. and . to prepare accounts which aG¢cY(I wth the cntIng records and comply wh the accouniirvJ requirements of t%1¢1 have not been met: or 121 to whlch. in my opinion, attenlion shoukl be dravm in order to en8lJe • rrfoper understanding of the accounts to be reached. K. Collaku MAAT Castle Wew Accounting Ltd New Barn Mudberry Lane 808ham Chichester West Su8se¥ PO18 8TS Date.. 71h July 2023
IRANIAN CHRISTIAN FELLOWSHIP TRUSTEES REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022 Tho ICF Is a commtsnily of God'6 pooplo. the purpo6e ol which ie wor6hip, falkJwBhip and d¢iplo&hip ol p¢)oplo (Church). mosiiy of Iranvan orwJin but also ofother natK)Da1eS that relate to tkc(Th8 a genuir part of ICF. The Object of the ICF i to advarte ihe Chrvstian redIOn forthe benefft olthe pu. The ICF Is committe(I to the Great C(nmtswon of Ml 28".19-20. In evangelistic outreach to. and disciJing of Iranians and other nationalities. firsity In ir UK, and IW Europe aryy dsewhere In th&w1. In Cooperat with olher5 of like vision. In pursuance of these objeciives we have W&y. e5tYsh8d Church MeelKig5. &'bk Teaching. Prayer. Sunday Sch2d. Counselling. and Worship Meetirg Tru5teo5 Responsibilities The Charilie5 Act 2011 requir8 the tru5t8e5 to prepare finarKial statements ¢a¢h financial year whKh give a true an fair view ol the 51ale of affair8 of th8 trust ancl ol $urplu$ of the trust ts that period. In prep8nng tlK)se financrdl s1è1om' fjls the Irusiees ar6 reqUe<l to.. Seleei suilable xcounling policN and apply them &StentlY Make iudgemenls arKI eslimales that are reasonat4e and Prere financial 9ts18rn0ni$ on g¥)iThJ corwn ba$1$ urknsB rt 1$ in8Fpropriate to presume that the trust will cMtinue In ex151ence. The Iruslees 8r respon$ibk Iiy keep'ng proper accouniing rttord& whh d¢selosè wilh roasable aceuracy al any lime the financial PO$llion of the trust. They are a150 reSP)nse for safeguardir¥a the assels of the trust and hence for taking roasonable steps thè prevent and IjetectK of traud aTrJ irregul•ritse& Approved by the Trust••S On lfi•...... Sione¢J on their bèhaw by Tru5tee......-........................... Printed Name..
IRANIAN CHRISTIAN FELLOWSHIP
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations & Legacies 3a Investment Income 3b Other Incoming Resources 3c TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED Total Funds Brought Forward TOTAL FUNDS CARRIED FORWARD NET INCOMING/ (OUTGOING) RESOURCES |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 78,991 - 78,991 58,744 36 - 36 - 912 - 912 4 79,939 - 79,939 58,748 80,136 - 80,136 42,872 850 - 850 750 80,986 - 80,986 43,622 (1,047) - (1,047) 15,126 71,168 - 71,168 56,042 70,121 - 70,121 71,168 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 12 form part of these financial statements.
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IRANIAN CHRISTIAN FELLOWSHIP BALANCE SHEET A.q AT 21ST DECEMBER 2022 UnrestricteLI Restricted Funds FuThYs Total 31-De¢-22 Total 31.DÈc.21 Notes Fixed Assot5 Tangible Assels current Assets Debtors & Prepayment$ Cash al Bank and In Hand 35.831 41.136 35.831 41.136 33,716 45.023 Total Current Ass•ts 76.967 76.967 78,739 ¢iedltor%'. Amounts fallirrfj due wrthin year 7.571 NET C.RENT ASSETS 70.121 70.121 71.168 TOTAL ASSETS less curTent liaNrt*s 70,121 70,121 71.168 Cr¢dltor$.' LoThJ Term L'1't$ NET ASSETS 70.121 70.121 71.168 Funds of the Charity General FunJs Resiricied Funds 70.121 70.121 71.168 Total Fun4$ 70,121 TO,121 71,1GO Approv&J by the Twslees on the .............. Signed on their behaw by Tru$tee. Prinled Narn8'.
IRANIAN CHRISTIAN FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
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. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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IRANIAN CHRISTIAN FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Support Costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.
Fixed Assets
These are capitalised if they can be used for more than one year, and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
2. TANGIBLE FIXED ASSETS
The Charity held no tangible fixed assets or investments during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2022: None
31st December 2021: None
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IRANIAN CHRISTIAN FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
3. INCOMING RESOURCES
| a) Donations & Legacies Gifts, Tithes & Offerings Gift Aid Tax Refund b) Investment Income Interest c) Other Incoming Resources Sundry Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 71,787 - 71,787 45,145 7,204 - 7,204 13,599 78,991 - 78,991 58,744 36 - 36 - 36 - 36 - 912 - 912 4 912 - 912 4 |
|---|---|
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Equipment Costs Gifts, Tithes & Offerings Insurance Costs Meeting Costs Ministry Expenses Sundry Expenses Staff Costs 11 Telephone Costs Travel & Hospitality Utility Costs Website Costs b) Governance Costs Independent Examiner's Fee 8 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2021 2021 £ £ £ £ 400 - 400 372 36,237 - 36,237 13,127 2,117 - 2,117 1,995 148 - 148 558 8,337 - 8,337 7,101 11 - 11 85 30,584 - 30,584 16,289 - - - 1,094 514 - 514 315 1,788 - 1,788 1,148 - - - 788 80,136 - 80,136 42,872 850 - 850 750 850 - 850 750 |
|---|---|
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IRANIAN CHRISTIAN FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
The Charity held no Restricted Funds during this or the previous financial period.
6. CASH AT BANK AND IN HAND
| Cash at Bank and in Hand 7. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted TOTAL TOTAL Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 41,136 - 41,136 45,023 41,136 - 41,136 45,023 Unrestricted Restricted TOTAL TOTAL Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 35,831 - 35,831 33,716 35,831 - 35,831 33,716 |
|---|---|
8. CREDITORS, ACCRUALS AND DEFERRED INCOME: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiner's Fee Sundry Creditors |
Unrestricted Restricted TOTAL TOTAL Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 850 - 850 750 5,996 - 5,996 6,821 6,846 - 6,846 7,571 |
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9. CREDITORS - LONG TERM LIABILITIES: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial period.
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible Fixed Assets Net Current Assets Long Term Liabilities TOTAL FUNDS |
Unrestricted Restricted TOTAL TOTAL Fund Fund 31-Dec-22 31-Dec-21 £ £ £ £ - - - - 70,121 - 70,121 71,168 - - - - 70,121 - 70,121 71,168 |
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IRANIAN CHRISTIAN FELLOWSHIP
NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
11. STAFF COSTS AND NUMBERS
| TOTAL 2022 £ Gross Wages and Salaries 27,846 Employer's National Insurance Costs 1,850 Pension Contributions 888 30,584 Employees who were engaged in each of the following activities: TOTAL 2022 Activities in furtherance of organisation's objects 2 |
TOTAL 2021 £ 15,000 839 450 16,289 TOTAL 2021 1 |
|---|---|
The organisation operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2021:None)
12. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them (2021:None).
13. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
14. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
15. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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