First IPC Presbytery of England
Report and Accounts
year ended 31 December 2020
## **First IPC Presbytery of England**
## **COMPANY INFORMATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Trustees**
Appointed Resigned Timothy Houghton 30/01/2020 Rev John B. Schutter 08/03/2013 Rev David Thomas 30/01/2020 Rev A Paul Levy 02/12/2006 30/01/2020
## **Company Secretary**
Rev Gethin Jones
## **Governing Document**
Memorandum and Articles of Association dated 22 November 2005
**Company Registration Number**
05631533
**Charity Registration Number** 1114788 **Principal Address** 53 Drayton Green West Ealing London W13 0JE
## **Registered Office**
## **Independent Examiner**
53 Drayton Green West Ealing London W13 0JE Miriam Hickson CTA FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton, Surrey SM1 2SW
## **Bankers**
Natwest Chatham Customer Service Centre Western Avenue Waterside Court Chatham ME4 4RT
|**Contents**|**Page**|
|---|---|
|Company Information|1|
|Trustees' Annual Report|2-4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Accounts|8-13|
|Detailed Statement of Financial Activities with Comparatives|14|
Page 1
## **First IPC Presbytery of England**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
Thetrustees, who arethecharity's directors for thepurposes ofcompany law, have pleasurein submitting the Report and Accounts for the year.
## **Objects of the charity**
The charity is a charitable company and is governed by its memorandum and articles of association. The objects of the charity, as set out in the governing document are:
to advance the Christian religion in accordancewith thesubordinate standard of faith as defined in theBook ofChurch Order ofthe International Presbyterian Church (“BCO”) applicableto themember congregations of thechurches in Presbytery in theUnited Kingdom or elsewhere in the world as theTrustees from time to time think fit and to fulfil such other purposes consistent with the BCO which areexclusively charitableaccording to the law of England and Wales and are connected with the charitable work of the Trust, inter alia this includes (but is not limited to) the objects:
a) to further the religious and other charitable work of the denomination known as the International Presbyterian Church ("IPC") anywhere in the world;
b) to care for and govern congregations of the Presbytery anywhere in the world in accordance with traditional principles of Presbyterian government as set out in the BCO;
c) to advance Christianity in any part of the world by means of planting new churches under the auspices of the IPC and in accordance with its government;
d) to provide or augment the remuneration of any pastor or elder in the IPC or assist him in meeting the expenses incurred in the performance of his duties or relieve in cases of financial need pastors or elders or retired retired pastors or elders who have served in any congregations under the care and governance ofthe Presbytery;
e) to advance religious education in accordance with thedoctrines and principles ofthe IPC as set out in the Constitution by means of training and examining prospective pastors or elders or deacons or missionaries for service in the ministry of IPC anywhere in the world or by means of establishing in the United Kingdom or Europe a seminary for that and other purposes ancillary thereto.
## **Summary of the charity's main activities and achievements**
To further the above objects and vision, the charity's main activities and achievements were as follows: a) convening regular meetings of the Presbytery and its committees
b) examining and ordaining teaching and ruling elders in the various churches of Presbytery;
c) making grants to individuals under careofPresbytery studying at seminary, and church plants under careof the Church Planting Committee
d) providing oversight and support to churches and church plants of Presbytery.
Most the charity's activities are undertaken by volunteers and the charity could not operate effectively without their efforts.
Page 2
## **First IPC Presbytery of England**
## **TRUSTEES' ANNUAL REPORT**
## **(INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
## **Structure, Governance and Management**
Responsibility for setting policy and for determining theparameters within which thecharity should operate rests with the trustees who meet regularly to monitor the activities of thecharity. Responsibility for theday to day operation of the charity has been delegated to the moderator and clerk, and a range of committees appointed by the Presbytery. New trustees are recruited and appointed the members of the charity by a majority vote.
## **Financial review**
During the year income decreased by £61,709, to £115,186, and expenditure decreased by £48,590, to £89,840. As a result surplus for the year decreased by £13,119, to £25,346 and the charity's net assets increased by the same amount, to £202,501. Net current assets also increased by £25,346, to £202,501.
## **Reserves policy**
The trustees have determined that the charity should aim to hold unrestricted cash sufficient so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash (unrestricted cash in general fund less creditors) of £12,754 (2019: £1,122) and the charity is complying with its reserves policy. The charity can draw on additional contributions from churches who are part of the denomination should the need occur.
## **Going concern**
The charity has obtained approval to convert to a charitable incorporated organisation (CIO) on 13 January 2021. Legally, the conversion process results in the formation of a new entity (The CIO), the transfer of the existing assets and activities and the subsequent linking of the existing charity with the CIO.
As a consequence, the continuing activities ofthe incorporated charity will cease as at thedate ofconversion albeit the activities of the charity itself will continue as part ofthe CIO. As a consequence ofthe cessation of activities, this charity is thereforeno longer considered to bea going concern. Thesefinancial statements have therefore been prepared on a basis other than that of a going concern.
However, after reviewing the CIO forecasts and projections, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. This incorporation event has thereforenot resulted in any significant changeto thepresentation, classification or valuation of the related assets and liabilities
Page 3
## **First IPC Presbytery of England**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Key risks and uncertainties**
Thecharity is exposed to various risks - bethey operational, financial or reputational. Thetrustees review the charity's activities regularly to identify significant risks and, wherepossible, they takeappropriate measures to mitigate those risks.
## **Plans for the future**
As noted abovecharity has, in the course of January 2021, converted from a charitable company to a Charitable Incorporated Organisation (CIO).
## **Responsibilities of trustees under company law**
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitablecompany as at thebalance sheet date and of its incoming resources and application ofresources, including incomeand expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. statewhether theapplicableaccounting standards havebeen followed, subject to any material departures
disclosed and explained in the financial statements; and
5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with theCompanies Act 2006. They are also responsible for safeguarding theassets ofthe charitablecompany and hencefor taking reasonablesteps for theprevention and detection offraud and other irregularities.
## **Approval**
This report, which has been prepared in accordancewith theprovisions oftheCompanies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:
## John B Schutter
REV JOHN B SCHUTTER
Date: 26 May 2021
Page 4
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **First IPC Presbytery of England ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020 on pages 6 to 14 following, which havebeen prepared on the basis of theaccounting policies set out on pages 8 to 9.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsiblefor thepreparation oftheaccounts in accordance with the requirements of theCompanies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I havefollowed theDirections given by theCharity Commission under section 145(5) (b) of the2011 Act.
## **Independent examiner’s statement**
I havecompleted my examination. I confirm that no matters have cometo my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements ofsection 396 of the2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Miriam Hickson
Miriam Hickson CTA FCA
9 June 2021
Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton, Surrey SM1 2SW
Page 5
## **First IPC Presbytery of England**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
6
**Total expenditure**
**Net gains/(losses) on investments**
**Net income/(expenditure)**
**Transfers between funds**
11
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
11|Unrestricted
Funds
£
5,463
612
40
6,115
4,210
4,210
-
1,905
-
1,905
11,790
13,695|Restricted
Funds
£
109,071
-
-
109,071
85,630
85,630
-
23,441
-
23,441
165,365
188,806|Total
Funds
2020
£
114,534
612
40
115,186
89,840
89,840
-
25,346
-
25,346
177,155
202,501|Total
Funds
2019
£
165,913
10,910
72|
|---|---|---|---|---|
|||||176,895|
|||||138,430|
|||||138,430|
|||||-|
|||||38,465
-|
|||||38,465
138,690|
|||||177,155|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on pages 8-13 form part of these accounts.
Page 6
|Note
**CURRENT ASSETS**
Debtors
8
Cash at bank and in hand
9
**CREDITORS: Amounts falling**
**due within one year**
10
**Net current assets / (liabilities)**
**Total assets less current liabilities**
**TOTAL NET ASSETS**
**FUND BALANCES**
11
Unrestricted Funds
General funds
Designated funds
Restricted Funds|||**AS AT**
**First IPC**
**B**|**31 DECEMBER 2020**
**Presbytery of Engla**
**ALANCE SHEET**|Total
Funds
2020
£
291
239,163
239,454
36,953
202,501
202,501
202,501
13,046
649
13,695
188,806
202,501
**nd**|||||
|---|---|---|---|---|---|---|---|---|---|
|||General
Funds
£
291
49,708
50,000
36,953
13,046
13,046
13,046
13,046
-
13,046
-
13,046
Unrestricte|Designated
Funds
£
-
649
d Funds|Restricted
Funds
£
-
188,806|Total
Funds
2020
£
291
239,163
239,454
36,953
202,501
202,501
202,501
13,046
649
13,695
188,806
202,501|General
Funds
£
10,668
61,226
Unrestric|Designated
Funds
£
-
649
649
-
649
649
649
-
649
649
-
649
ted Funds|Restricted
Funds
£
-
165,365|Total
Funds
2019
£
10,668
227,240
237,908
60,753
177,155
177,155
177,155
11,141
649
11,790
165,365
177,155|
||||649
-|188,806
-||71,894
60,753||165,365
-||
||||649|188,806||11,141||165,365||
|||||||||||
||||649|188,806||11,141||165,365||
||||649|188,806||11,141||165,365||
||||-
649|-
-||11,141
-||-
-||
||||649
-|-
188,806||11,141
-||-
165,365||
||||649|188,806||11,141||165,365||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The trustees (who are the charitable company's directors for the purposes of company law) acknowledge their responsibilities for: (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which givea trueand fair view ofthestateofaffairs ofthecharitablecompany as at theend ofeach financial year and ofits net incomeor expenditurefor each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Trustees on 26 May 2021 and were signed on its behalf by:
**----- Start of picture text -----**
John B Schutter
REV JOHN B SCHUTTER
Company number: 05631533 Charity number: 1114788
The notes on pages 8-13 form part of these accounts.
**----- End of picture text -----**
Page 7
## **First IPC Presbytery of England**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in theUnited Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordancewith theFinancial Reporting Standard applicablein theUK and Republic ofIreland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic ofIreland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
a) Going concern Thetrustees (who arethecharitablecompany's directors for thepurposes ofcompany law) haveassessed whether theuse ofthe going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continueas a going concern.Thecharity has obtained approval to convert to a charitableincorporated organisation (CIO) on 13 January 2021. Legally, the conversion process results in the formation of a new entity (The CIO), the transfer of the existing assets and activities and the subsequent linking of the existing charity with the CIO.
As a consequence, thecontinuing activities oftheincorporated charity will ceaseas at thedateofconversion albeit theactivities of thecharity itself will continue as part of the CIO. As a consequence of the cessation of activities, this charity is therefore no longer considered to be a going concern. These financial statements have therefore been prepared on a basis other than that of a going concern.
However, after reviewing theCIO forecasts and projections, theTrustees have a reasonable expectation that theCIO has adequate resources to continue in operational existence for the foreseeablefuture. This incorporation event has thereforenot resulted in any significant changeto the presentation, classification or valuation of therelated assets and liabilities. In making this assessment, the trustees have considered the impact of Covid-19.
b) Income Incomeincluding investment incomeis recognised in theperiod in which thecharity becomes entitled to receipt, theamount receivablecan bemeasured with reasonablecertainty, and receipt is probable. For themost part, incomeis generally recognised when it is received. Income is only deferred when thecharity has to fulfil conditions beforebecoming entitled to it or wherethe donor has specified that theincome is to be expended in a future period.
Income from donations and legacies includes:
- i) Recoverablegift aid. This is recognised when therelated donation is received. Gift aid that has not been recovered by the balancesheet date is included as a debtor.
Thecharity relies on volunteers to carry out many of its activities. However, in accordancewith theSORP, thevalue ofthese services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from conferences.
Investment income represents income generated by the charity's assets and includes income from bank interest.
The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith, and all income from donations, legacies and charitable activities is in respect of this one activity.
- c) Expenditure
Expenditure, including irrecoverableVAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructiveobligations arise, which is generally when thecharity expresses a commitment to therecipient that can bemeasured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The cost of raising funds is not significant and has not been separately disclosed.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
Page 8
## **First IPC Presbytery of England**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
d) Fund accounting General funds areunrestricted funds which areavailablefor use at the discretion of thetrustees in furtherance ofthe general objectives ofthe charity. Designated funds comprise unrestricted funds that have been set aside by thetrustees for particular purposes. Restricted funds are donations which areto beused in accordancewith specific restrictions imposed by donors; they includedonations received from appeals for specific activities or projects.
k) Taxation The company is a registered charity; it has taken advantageof thevarious reliefs from taxation available to charities and no tax is payableon the charity's income.
- l) Financial instruments
- Thecharity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
## m) Foreign currency translation
- These financial statements are presented in sterling, which is the charity's functional currency. i) Income and expenditure denominated in a foreign currency is translated into sterling at the exchangerate prevailing on thedate ofthe transaction.
- ii) Monetary assets and liabilities denominated in a foreign currency are re-translated at the exchange rateprevailing at the balancesheet date.
- iii) Non-monetary assets are measured at historic cost at the rate of exchange prevailing on the date of the transaction and are not subsequently re-translated.
All differences arising from the application of the above policy are charged (or credited) to the Statement of Financial Activities.
- n) Exemption from preparing a cashflow statement The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
- o) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources ofestimation or uncertainty at the balancesheet datethat could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
ln preparing financial statements certain judgements, estimates and assumptions have to be madethat affect the amounts recognised in the financial statements. The trustees consider the following to be significant:
- i) The constructive obligation for grants payable is based on an assessment of the likely duration of the supported activity, which in practice involves that all available funds will be disbursed for the activities. Again this estimate is re-assessed annually and the obligation is adjusted to reflect current expectations.
## **3 Donations and legacies**
|**ations and legacies**|||||
|---|---|---|---|---|
|Donations of cash and similar
Other grants receivable
Income tax recoverable|Unrestricted
Funds
£
4,930
533
5,463|Restricted
Funds
£
104,023
5,048
109,071|Total
2020
£
108,953
-
5,581
114,534|Total
2019
£
155,245
-
10,668|
|||||165,913|
## **4 Income from charitable activities**
|**4**
**Income from charitable activities**|||||
|---|---|---|---|---|
|Catalyst conference
Other
**5**
**Investment income**
Bank interest|Unrestricted
Funds
£
-
612
612
Unrestricted
Funds
£
40
40|Restricted
Funds
£
-
-
-
Restricted
Funds
£
-
-|Total
2020
£
-
612
612
Total
2020
£
40
40|Total
2019
£
10,910
-|
|||||10,910|
|||||Total
2019
£
72|
|||||72|
Page 9
## **First IPC Presbytery of England**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **6 Charitable expenditure**
|Unrestricted
Restricted
Funds
Funds
£
£
**a**
**Costs incurred directly on specific activities**
Costs of generating voluntary income
612
-
Salaries, travel and expenses, incl admin assistance
-
-
IT & software
379
-
Insurance
281
Grants payable (note 6d)
-
85,630
1,272
85,630
**b**
**Costs incurred on support & administration**
Governance costs
Independent examiner's fee
1,500
-
Other
13
-
1,513
-
Subscriptions and professional fees
1,425
-
2,938
-
**Total expenditure**
4,210
85,630
The fee payable to the independent examiner for examining the accounts was £1,500 (2019: £1,500).|Total
2020
£
612
-
379
281
85,630
86,902
1,500
13
1,513
1,425
2,938
89,840|Total
2019
£
11,523
2,374
242
-
121,805|
|---|---|---|
|||135,944|
|||1,500
113|
|||1,613
873|
|||2,486|
|||138,430|
||||
|**d**
**Grants payable**
Grants for church planting
Grants for education, including ministry training
The comparatives for the previous year are as follows:
Grants for church planting
Grants for education, including ministry training
The charity's principal grants to institutions comprised:
All Nations Ilford
Christ Church Central Leeds
Grants to institutions for less than £1,000 each|Institutions
£
18,032
-
18,032
Institutions
£
60,902
-
60,902|Individuals
£
-
67,598
67,598
Individuals
£
-
60,903
60,903
2020
£
15,929
1,715
388
18,032|2020
£
18,032
67,598|
|---|---|---|---|
||||85,630|
||||2019
£
60,902
60,903|
||||121,805|
||||2019
£
37,962
22,940
-|
||||60,902|
## **7 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses** The charity did not employ any staff during the year (2019: nil). Most of the charity's activities are carried out by volunteers.
The charity's key management comprise the trustees and the key staff named on the Company Information page. No employment benefits were payable to key management during the year (2019: nil).
No trustees received employment benefits or expenses in either the current or preceding year.
- **8 Debtors**
|**Falling due within one year:**
Tax recoverable
**Total debtors**|2020
£
291
291
291|2019
£
10,668|
|---|---|---|
|||10,668|
|||10,668|
Page 10
## **First IPC Presbytery of England**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **9 Cash at Bank and in Hand**
|**9**
**Cash at Bank and in Hand**|||
|---|---|---|
|Cash at bank with immediate access
**10**
**Creditors: liabilities falling due within one year**
Accruals
Deferred income
Grant obligations|2020
£
239,163
239,163
2020
£
1,500
8,214
27,240
36,953|2019
£
227,240|
|||227,240|
|||2019
£
1,500
-
59,253|
|||60,753|
Deferred income represents income received for the postponed 2020 Catalyst conference (postponed due to Covid-19) and is expected to be released in 2021.
## **11 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Catalyst conference fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
_Chuch planting funds_
Leeds Church Plant fund
All Nations Ilford Church Plant fund
Chester Church Plant Fund
Gloucester Church Plant Fund
Church Planting fund
_Other funds_
Diaconal fund & other resources
_Education & training funds_
AW Pastoral Education fund
PL Pastoral Education fund
SC Pastoral Education fund
WA Pastoral Education fund
IK Pastoral Education fund
AK Pastoral Education fund
MK Pastoral Education fund
Assistant Ministers Training Fund
Aggregate of funds|Opening
balance
2020
£
649
649
11,141
11,790
-
-
-
-
136,760
483
-
-
-
-
-
-
-
28,122
165,365
177,155|Incoming
resources
2020
£
-
-
6,115
6,115
1,715
5,929
5,200
3,858
29,180
-
13,752
11,340
-
-
6,628
17,620
2,058
11,790
109,071
115,186|Outgoing
resources
2020
£
-
-
(4,210)
(4,210)
(1,715)
(15,929)
-
(388)
-
-
(13,752)
(11,340)
-
-
(6,628)
(17,620)
(2,058)
(16,200)
(85,630)
(89,840)|Transfers
in the year
2020
£
-
-
-
-
-
10,000
5,000
-
(15,000)
-
-
-
-
-
-
-
-
-
-|Gains and
losses
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Closing
balance
2020
£
649|
|---|---|---|---|---|---|---|
|||||||649
13,046|
|||||||13,695|
|||||||-
-
10,200
3,470
150,940
483
-
-
-
-
-
-
23,712|
|||||||188,806|
|||||||202,501|
The transfers referred to above were made for the following reasons:
Transfers from central church planting funds to particular church plants' funds as allocated by Presbytery
Page 11
## **First IPC Presbytery of England**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
In the previous year the movements in the charity's funds were as follows:
|_Designated Funds_
Catalyst conference fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
_Chuch planting funds_
Leeds Church Plant fund
All Nations Ilford Church Plant fund
Chester Church Plant Fund
Gloucester Church Plant Fund
Church Planting fund
_Other funds_
Diaconal fund & other resources
_Education & training funds_
AW Pastoral Education fund
PL Pastoral Education fund
SC Pastoral Education fund
WA Pastoral Education fund
IK Pastoral Education fund
AK Pastoral Education fund
MK Pastoral Education fund
Assistant Ministers Training Fund
Aggregate of funds|Opening
balance
2019
£
1,262
1,262
7,174
8,436
-
-
-
-
114,603
483
-
-
-
-
-
-
-
15,168
130,254
138,690|Incoming
resources
2019
£
10,910
10,910
9,069
19,979
2,940
27,962
-
-
52,157
-
16,429
16,458
50
4,991
13,472
9,503
-
12,954
156,916
176,895|Outgoing
resources
2019
£
(11,523)
(11,523)
(5,102)
(16,625)
(22,940)
(37,962)
-
-
-
-
(16,429)
(16,458)
(50)
(4,991)
(13,472)
(9,503)
-
-
(121,805)
(138,430)|Transfers
in the year
2019
£
-
-
-
-
20,000
10,000
-
-
(30,000)
-
-
-
-
-
-
-
-
-
-
-|Gains and
losses
2019
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Closing
balance
2019
£
649|
|---|---|---|---|---|---|---|
|||||||649
11,141|
|||||||11,790|
|||||||-
-
-
-
-
136,760
483
-
-
-
-
-
-
-
28,122|
|||||||165,365|
|||||||177,155|
Thedesignated Catalyst conference fund represents thesurplus generated by theCatalyst conferencein thecurrent and previous years. Funds generated by this conferencehavebeen designated for futureinvestment in this conference. The2020 conferencewas postponed due to Covid19, and all income and expenses deferred to 2021.
The church planting funds represent funds received for particular church plants (Leeds, Ilford, Gloucester and Chester) and general church planting activities of the IPC. Pastoral education funds represent funding raised for the education of men under care of presbytery at seminary or Bible college. As funds other than the Church Planting, Diaconal and Assistant Ministers' fund are committed at year-end, any surplus available funds are recognised as grants and reported as amounts payable in accordance with the SORP. The Gloucester and Chester church plants'funds arenot committed at year-end as it is dependent on the progress of these plants.
## **12 Transactions with related parties**
There have been no transactions with related parties during the year.
Page 12
## **First IPC Presbytery of England**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
## **13 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £10.
## **14 Post-balance sheet events**
Thecharity converted its legal structurefrom a charitablecompany limited by guaranteeto a Charitable Incorporated Organisation in January 2021. This has no impact on the activities or financial position of the charity.
Page 13
## **First IPC Presbytery of England**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
7
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total Expenditure**
**Net gains/(losses) on investments**
**Net income/(expenditure)**
**Transfers between funds**
11
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
11|2020
£
5,463
612
40
-
Unrestricted F|2019
£
8,997
-
72
-
unds - General|2020
£
-
-
-
-
Unrestricted Fu|2019
£
-
10,910
-
-
nds - Designated|2020
£
109,071
-
-
-
Restricte|2019
£
156,916
-
-
-
d Funds|Total
Funds
2020
£
114,534
612
40
-|Total
Funds
2019
£
165,913
10,910
72
-|
|---|---|---|---|---|---|---|---|---|
||6,115|9,069|-|10,910|109,071|156,916|115,186|176,895|
||4,210|5,102|-|11,523|85,630|121,805|89,840|138,430|
||4,210|5,102|-|11,523|85,630|121,805|89,840|138,430|
||||||||-|-|
||1,905
-|3,967
-|-
-|(613)
-|23,441
-|35,111
-|25,346
-|38,465
-|
||||||||||
||1,905
11,141|3,967
7,174|-
649|(613)
1,262|23,441
165,365|35,111
130,254|25,346
177,155|38,465
138,690|
||13,046|11,141|649|649|188,806|165,365|202,501|177,155|
Page 14