Grace Church Wanstead A company limited by Guarantee 5899396 (registered in England and Wales) Registered Charity: 1118247 Trustees’ Annual Report And Financial statements Year ended 31 August 2021 Grace Church Wanstead Year ended 31 August 2021 |Index|| |---|---| |Charitable company information|2| |Trustees Annual Report (including directors’ report)|3 - 5| |Independent examiners report|6| |Statement of Financial Activities|7| |Balance Sheet|8 – 9| |Notes to the financial statements|10 – 19| |Detailed statement of financial activities|20| 1 Grace Church Wanstead Year ended 31 August 2021 Charitable Company Information Trustees Rev David N Gibbs - Chairman and senior minister Mr S Parker Resigned 4 November 2021 Mr Costas Argyrou Appointed 22 November 2020 Mr Gerard A Durcan Appointed 22 November 2020 Mr Philippe Kapikian Appointed 22 November 2020 Company Secretary Ms Deborah Kelly Registered company number: 5899396 Charity Registration Number: 1118247 Principal Address and Registered office: 19 Highstone Avenue London E11 2PP Independent examiner: Sylvia Lambden FCCA Calculus Accountants and Tax Advisers Ltd 5 Priory Road Loughton Essex IG10 1AF Bankers: Nat West 51-53 High Street London E11 2AB 2 Grace Church Wanstead Year ended 31 August 2021 TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT) The trustees, who are the charity's directors for the purpose of company law, have the pleasure in submitting the Report and Accounts for the year. ## **Objectives and Activities** Objectives. The objects of the charity according to their articles of association are the advancement of the Christian Faith in Wanstead and the wider world. The Trustees have reviewed the Charity Commission's guidance on public benefit and seek to apply this when planning activities. ## **Achievements** _**.**_ After six months of online meetings caused by Covid-19 the church re opened its weekly public meeting in September 2020 and ran public meetings except when requested to by the local or national authorities because of Covid-19. Other activities and achievements. - Weekly Bible studies to encourage Christian members and help them explain the Christian message to those around them. These meetings were held either online or in person depending on government guidelines and trustee risk assessments - Ran two online events to explain the Christian faith to anyone who wanted to join - Gave out flyers to Wanstead residents to invite them to the church's Easter meeting in March 2021 - Joined with other local churches is starting a new church in the Barkingside and Clayhall region. - Ran a weekly book table beginning in May 2021 - Restarted a weekly Toddler group to support local parents and carers in March with an opportunity to hear a Christian story. - Ran a Website to explain the church's meetings and the Christian Faith. Most of the charities activities are undertaken by volunteers and the charity could not operate effectively without their efforts. In planning the activities the trustees have applied the guidance on public benefit issued by the Charity Commission. ## **Financial Review** The financial year saw a surplus before exceptional items of £12,684. The surplus is mainly down to a number of generous one off gifts as well as monthly regular giving. This meant that reserves at the end of the financial were at a level of £51,598 but this has been reduced to £39,222 due to a provision of £12,376 which is a potential repayment of the wrongly claimed Employment Allowance. The Trustees received a letter from HMRC in September requesting repayment of wrongly claimed Employment Allowance (for the period April 2014 to 2021) to the amount of £16,398.13. The trustees have taken advice from Stewardship services and have requested their independent examiners to enquire further about this. It is thought that £12,684 may be repayable due to the charities status as a company limited by 3 Grace Church Wanstead Year ended 31 August 2021 ## TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT) guarantee and the only employees title as Trustee but also director. It is hoped that HMRC may be lenient and overlook this as the company is non-profit making. For the first six months of the current year income has been slightly greater than expenditure owing to a number of generous one-off gifts. All reserves held are unrestricted. ## **Reserves Policy** The current reserves policy is that free reserves held by the charity should be maintained at the level required to meet the company's financial commitments to pay staff and agreed property rental for a period of not less than three months (c£13,500) and not more than six months (c£27,000). It was felt wise to maintain a higher level given the possible necessary Employment Allowance Payment. ## **Going Concern.** The Trustees continue to review the level of finances in the charity. The early part of the new financial year saw a number of one-off gifts further strengthening the charities finances. Regular monthly income is currently running below expenditure, but the Trustees have potential procedures in place to seek to raise further income and reduce expenditure, if necessary in the future. With this in mind the trustees are comfortable that there is no immediate danger of insolvency and the charity remains a “going concern”. **Structure, Governance** – including how trustees are selected and trained. The Trustees of the charity who are also directors of the company and the church council of elders manage and direct the work of the charity. They meet monthly in order to carry out this function. Day to day management is overseen by David Gibbs as Senior Minister and Chairman. Trustees are appointed or re appointed by the current trustees from members of the company who they think are suitable in accordance with the Articles of Association. Training: As part of our ongoing trustee meetings we have been working through the Charity Commission's “Essential Trustee: what you need to know, what you need to do” booklet. The Charity has begun the process of conversion into a CIO. ## **Plans for the future** The charity will continue to seek to bring the gospel of Jesus Christ to Wanstead and surrounding area. It is currently involved with other local churches in holding a number of 4 Grace Church Wanstead Year ended 31 August 2021 ## TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT) events to explain the Christian message to the communities of Woodford, Wanstead, Walthamstow and Barkingside and Clayhall. This partnership should enhance the work of the church in the local area. ## **Key risks and uncertainties** The charity is exposed to various risks be they operational, financial or reputational. The Trustee review the charity’s activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks. ## **Responsibilities of Trustees under company law.** The trustees are responsible for preparing the trustees' annual report and financial statements in accordance with applicable alw and UK Accounting Standards. 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 fo the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and 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 state whether the applicable accounting standards have been 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 the Companies Act 2006. They are also responsible or safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Approval** This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by: ## D.N.Gibbs D.N.Gibbs (May 12, 2022 11:16 GMT+1) May 12, 2022 David Gibbs Date: Chairman and Senior Minister 5 Grace Church Wanstead Year ended 31 August 2021 ## **Independent Examiner's Report to the Trustees of Grace Church Wanstead** I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] August 2021 which are set out on pages 7 to 20. ## **Responsibilities and basis of report** As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies 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 company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 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 of section 396 of the 2006 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. The Examiner’s relevant professional qualification or body is the Association of Chartered Certified Accountants Sylvia Lambden (May 16, 2022 13:23 GMT+1) Signed: Sylvia Lambden FCCA Calculus Accountants and Tax Advisers Limited 5 Priory Road Loughton Essex IG10 1AF The date upon which my opinion is expressed is: May 16, 2022 6 ## **Grace Church Wanstead** ## **Statement of Financial Activities (Including Income and Expenditure Account) For the year ended 31 August 2021** |**Unrestricted**
**funds**
**£**
**Notes**
**Income from**
Donations and legacies
**2(a)**
70,613
Investment income
**2(c)**
61
Charitable activities
**2(b)**
241
Other
-
**Total income**
70,915
**Expenditure on**
Charitable activities
**3**
55,377
Governance costs
**4**
1,043
Support costs
**5**
1,811
**Total expenditure**
58,231
**Net income/(expenditure)**
12,684
Transfer between funds
-
Exceptional items
**16**
(12,375)
**Net movement in funds for the**
**year**
309
**Reconciliation of funds:**
Total funds brought forward
12
38,913
**Total funds carried forward**
12
39,222|**Restricted**
**funds**
**£**
500
-
-
-
500
500
-
-
500
-
-
-
-
-
-|**2021**
**Total funds**
**£**
71,113
61
241
-
71,415
55,877
1,043
1,811
58,731
12,684
-
(12,375)
309
38,913
39,222|**2020**
**Total funds**
**£**
56,237
166
1,324
-| |---|---|---|---| ||||57,727| ||||64,010
873
2,229| ||||67,112| ||||(9,385)
-
(1,650)| ||||(11,035)| ||||49,949| ||||38,914| All income and expenditure derive from continuing activities The accompanying notes on pages 10 to 20 are an integral part of these financial statements 7 ## **Grace Church Wanstead Balance Sheet Company number: 5899396 As at 31 August 2021** |**Notes**
**Fixed assets**
Tangible fixed assets
**8**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**10**
**Creditors: amounts falling due within one year**
**11**
**Net current assets**
**Net assets**
**Represented by:**
Unrestricted revenue fund- general
**12a**
Unrestricted revenue fund- designated
**12b**
Total unrestricted funds
Restricted funds
**12c**
**Total funds**|**2021**
**£**
566
7,865
49,620
57,484
(18,829)
(18,829)
38,655
39,222
39,222
-
39,222
-
39,222|**2020**
**£**
791
8,411
36,838| |---|---|---| |||45,249| |||(7,127)| |||(7,127)| |||38,122| |||38,913| |||38,913
-| |||38,913| |||-| |||38,913| The accompanying notes on pages 10 to 20 are an integral part of these financial statements 8 ## **Grace Church Wanstead Balance Sheet (continued) Company number: 5899396 As at 31 August 2021** The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2021 and of its net resources expended for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies’ subject to the small companies regime The Trustees acknowledge their responsibility for ensuring the charity keeps proper accounting records in accordance with the requirements of the Charities Act 2011 as more fully set out in the statement of Trustees’ responsibilities in the Trustees’ Report The financial statements on pages 7 to 20 were approved by the Board of Trustees on 2022 and were signed on their behalf by: D.N.Gibbs D.N.Gibbs (May 12, 2022 11:16 GMT+1) May 12, 2022 D.N. Gibbs David Gibbs ## **Trustee** 9 **Notes to the Financial Statements As at 31 August 2021** ## **Grace Church Wanstead** ## **1 ACCOUNTING POLICIES** Grace Church Wanstead is a private charitable company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements. The nature of the charity’s operations and principal activities are set out in the Trustees Annual Report. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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 United Kingdom and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) , the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound sterling. The principle accounting policies and estimation techniques are as follows: ## **a) Income** All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to them as income, ultimate receipt is probable and the amount to be recognised can be quantified with reasonable accuracy. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specfied that the income is to be expended in future period. Income includes: i) Recoverable gift aid. This is recognised when the related donation is received. ii) Investment income. This is recognised when the period the charity becomes entiled to receipt and only derives from bank interest. ## **b) Expenditure** Expenditure is included on the accruals basis and is inclusive of Value Added Tax. It has been classified in the SOFA under charitable activities. i) The Charity makes grants to other institutions and individuals and grants payable are recognised when the charity expresses a commitment and any conditions associated are fulfilled. ii) the costs of raising funds is not significant and has not been disclosed separately. iii) Governance costs are included in charitiable activities and are separately identified in the notes to the accounts. iv) Support costs are included in charitable activites and identified separtely in the accounts. ## **c) Tangible fixed assets** Items purchased or donated are capitalised when the costs exceed £50 and the item is expected to benefit the charity for more than one year. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Fixtures and fittings - 25% on cost 10 ## **Grace Church Wanstead** ## **Notes to the Financial Statements** ## **As at 31 August 2021** ## **d) Cash and cash equivalents** Cash represents cash in hand plus bank balances immediately available to the charity. Cash equivalents are bank balances held on short term deposit available to the charity at up to 3 months’ notice. ## **e) Debtors and creditors receivable/payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure ## **f) Taxation** The charity is exempt from corporation tax on its charitable activities. ## **g) Fund accounting** General fund are unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal. ## **h) Pension costs** Contributions to the charity’s pension scheme, which is a defined contribution scheme, are charged to the SOFA in the period to which they relate. The assets of the scheme are held separately from those of the charity in independently administered funds. ## **i) Going concern** The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern ## **j) Exemption from preparing a cash flow** The charity has taken advantage of an exemption conferred by the charity sorp and has not prepared a cash flow statement. ## **k) Critical accounting estimates and areas of judgement** The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to carrying values of assets and liabilities in the next report period. 11 ## **Grace Church Wanstead** ## **Notes to the Financial Statements As at 31 August 2021** |||**2021 Total**|**2020 Total**| |---|---|---|---| |||**Funds**|**Funds**| |**2**|**Income from**||| |**a)**|**Donations and legacies**||| ||Donations with gift aid|32,532|47,726| ||Donations without gift aid|30,448|| ||Income tax recoverable|7,633|8,411| ||Donations for third parties|500|100| |||71,113|56,237| ||Included in donations are amounts totalling £ 500 (2020- £2,970)|which are Restricted|Funds| ||as the have described that these funds are to be expended on:||| |||**2021**|**2020**| |||**£**|**£**| ||Gift day re All Nations Barkingside|500|2,970| ||Included in donations are the following aggregated||| ||amounts given by the Trustees and connected||| ||individuals.||| ||Total donations|19,320|21,202| |**b)**|**Charitable activities**||| ||Grace Church tots subs|241|1,324| |||241|1,324| ||All the Charitable activities income is allocated to Unrestricted Funds||| |**c)**|**Investment Income**|**2021**|**2020**| |||**£**|**£**| ||Deposit account interest|61|166| ||All deposit account interest is allocated to the Unrestricted Funds||| 12 ## **Grace Church Wanstead** ## **Notes to the Financial Statements As at 31 August 2021** ## **3 Expenditure on** |**Charitable activity**
Salary and travel expenses
Employers national insurance
Pensions
Ministers expenses
Conferences and training
Gifts to speakers
Telephone and utilities
Catering
Toddler group
Miscelleous
Grants payable
3b
Donation to third Parties
Venue hire|**2021**
**£**
27,303
1,061
632
16,330
-
150
697
-
300
510
4,000
500
4,395
55,877|**2020**
**£**
30,531
-
626
13,200
616
318
752
338
-
3,647
4,075
5,100
4,807| |---|---|---| |||64,010| All Direct costs shown above are charged to Unresticted Funds except the donations to third parties £500 (£5,100) |**3b**
Grants Payable
Grants for UK and overseas mission work
Cross links
Eurasian Ministries
sundry
**4 Governance costs**
Independent examiners fee
Accounts preparation
Companies House
Other legal and professional
**5 Support costs**
Subscriptions and professional fees
Insurance
Disclosure and barring service checks
Computer equipment depreciation|2,000
2,000
-
4,000
450
450
13
130
1,043
1,072
296
218
225
1,811|2,000
2,000
75| |---|---|---| |||4,075| |||860
-
13
-| |||873| |||1,686
294
-
249| |||2,229| All the above support costs relate to the Unrestricted Funds apart from the following amounts which are charged to the following Restricted Funds. 13 **Grace Church Wanstead Notes to the Financial Statements As at 31 August 2021** ## **6 Trustee Remuneration Benefits and Expenses** The trustees are shown on the company information page and are the key management of the charity and company. David Gibbs is reponsible for day to day operations and receives remuneration as shown in note 7 in his role serving as senior minister and not as Trustee. The charity's governing document state that any Trustee may be able to enter into a contract to provide services. Renummeration is set by the Church of England pay scales. No expenses were paid to Trustees other than to David Gibbs. Expenses were received in his capacity as senior minister in respect of accomodation as is customary for the clergy inorder to better perform his duties: |Accomodation and related expenditure
**7 Staff Costs**
Wages and salaries
Social security costs
Other pension costs|16,330
**2021**
**£**
27,303
1,060
632
28,995|16,536| |---|---|---| |||**2020**
**£**
27,051
-
626| |||27,677| The staff costs shown above are charged to the Unrestricted Funds. Most of the charities activities are undertaken by volunteers No employee received emoluments in excess of £60,000 Pension costs all relate to defined contribution schemes whose assets are held outside the charitable company. The average monthly number of employees during the year was as follows: |Charitable activity
Full time equivalent - charitable activity|**2021**
Number
1
1|**2020**
Number
1| |---|---|---| |||| |||1| 14 ## **Grace Church Wanstead** ## **Notes to the Financial Statements** **As at 31 August 2021** ## **8 Tangible Fixed Assets** |**COST**
At 1 September 2020
Additions in year
At 31 August 2021
**DEPRECIATION**
At 1 September 2020
Charge for the year year
At 31 August 2021
**NET BOOK VALUE**
At 31 August 2021
At 31 August 2020
**9 Debtors: Amounts falling due within one year**
Income tax receoverable - gift aid
Other debtors
**10 Cash at bank and in hand**
Current account
Deposit account with notice
**11 Creditors: Amounts falling due within one year**
Taxation and social security
Accruals
Grant obligations
Income tax overclaimed in previous years - gift aid|**Fixtures,**
**Fittings,**
**equipment**
**£**
7,328
-
7,328
6,537
225
6,762
566
791
**2021**
**£**
7,630
235
7,865
**2021**
**£**
18,878
30,742
49,620
**2021**
**£**
13,079
1,750
4,000
-
18,829|**Total**
**£**
7,328
-| |---|---|---| |||7,328| |||6,537
225| |||6,762| |||566| |||791| |||**2020**
**£**
8,411
**-**| |||8,411| |||**2020**
**£**
6,158
30,680| |||36,838| |||**2020**
**£**
480
997
4,000
1,650| |||7,127| 15 ## **Grace Church Wanstead** ## **Notes to the Financial Statements As at 31 August 2021** ## **12 Movement in Funds** |**Unrestricted funds**
**a)**
General fund
**b)**
Designated funds
**c)**
**Restricted funds**
Donations to third parties
**TOTAL FUNDS**
Net movement in funds included in the above are as follows:
**Income**
**£**
**Unrestricted funds**
General fund
70,915
Designated funds
70,915
**Restricted funds**
Donations to third parties
500
500
**TOTAL FUNDS**
71,415|**Unrestricted funds**
**a)**
General fund
**b)**
Designated funds
**c)**
**Restricted funds**
Donations to third parties
**TOTAL FUNDS**
Net movement in funds included in the above are as follows:
**Income**
**£**
**Unrestricted funds**
General fund
70,915
Designated funds
70,915
**Restricted funds**
Donations to third parties
500
500
**TOTAL FUNDS**
71,415|**At 1**
**September**
**2020**
**Net**
**movement**
**in funds**
**At 31**
**August**
**2021**
**£**
**£**
**£**
38,913
309
39,222| |---|---|---| |||38,913
309
39,222| |||| |||-
-
-| |||| |||38,913
309
39,222| |||**Expenses**
**Transfers**
**Movement**
**in funds**
**£**
**£**
**£**

(70,606)
-
309| ||70,915|
(70,606)
-
309| ||500|
(500)
-
-| ||500|
(500)
-
-| ||71,415|
(71,107)
-
309| 16 ## **Grace Church Wanstead** ## **Notes to the Financial Statements As at 31 August 2021** |**13 Analysis of net assets between funds**
**Current year**
Fixed assets
Cash and current investments
Other current assets
Creditors within/less than one year
Provisions/pensions
**Prior year**
Fixed assets
Cash and current investments
Other current assets
Creditors within/less than one year
Provisions/pensions|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**£**
**£**
**£**
566
-
566
49,620
-
49,620
7,865
-
7,865
(18,829)
-
(18,829)
-
-
-| |---|---| ||39,222
-
39,222| ||791
-
791
36,838
-
36,838
8,411
-
8,411
(7,127)
-
(7,127)
-
-
-| ||38,913
-
38,913| ## **14 Contingent Liabilities** There were no contingent liabilities at the year end (2020 £nil) ## **15 Related Party Transactions** During the year the charity: |**Related Party Transactions**
During the year the charity:|**Related Party Transactions**
During the year the charity:|| |---|---|---| |a) received donations from related parties which includes Trustees, key management and||| |anyone closely conncected to themas follows:|**2021**|**2020**| ||**£**|**£**| ||19,320|21,202| |b) No expenses were paid other than those stated in Notes 6 and 7.||| c) The charity leases a property from David Gibbs at a cost of £13,200 which will run while he is senior minister and employed by the charity. Three months notice of the termination of the lease is required by either party. ## **16 Post balance sheet event** There are no post balance sheet events which need to be noted or adjusted for in these accounts. 17 ## **Grace Church Wanstead** ## **Notes to the Financial Statements** ## **As at 31 August 2021** |**17**|**Financial instruments**||**2021**|**2020**| |---|---|---|---|---| ||||**£**|**£**| ||The charity’s financial instruments may be analysed as follows:|||| ||Financial Assets|||| ||Financial Assets Measured at Amortised Cost|||| ||Trade debtors||-|-| ||Other debtors||7,865|8,411| ||Cash and cash equivalents||49,620|36,838| ||Total Financial Assets||57,484|45,249| ||Financial Liabilities|||| ||Financial Liabilities Measured at Amortised Cost|||| ||Trade creditors||-|-| ||Other creditors||(18,829)|(7,127)| ||Total Financial Liabilities||(18,829)|(7,127)| ||**Prior year comparative Statement of Financial**|**Unrestricted**|**Restricted**|**2020 Total**| |**18**|**Activities**|**funds**|**funds**|**funds**| |||**£**|**£**|**£**| ||**Income from**|||| ||Donations|44,856|2,870|47,726| ||Gift Aid received|8,411||8,411| ||Donations for third parties|-|100|100| ||Grace Church tots subs|1324||1,324| ||Interest receivable|166||166| ||**Total income**|54,757|2,970|57,727| ||**Expenditure on**|||| ||Charitable activities|58,910|5,100|64,010| ||Governance|873||873| ||Support costs|2,229||2,229| ||**Total expenditure**|62,012|5,100|67,112| ||**Net income/(expenditure)**|(7,255)|(2,130)|(9,385)| ||Transfer between funds|(2,130)|2,130|-| ||**Net movement in funds for the year**|(9,385)|-|(9,385)| ||Other recognised gains/(losses)|||| ||Exceptional items|(1,650)||(1,650)| ||**Reconciliation of funds:**|||| ||Total funds brought forward|49,949|-|49,949| ||**Total funds carried forward**|38,914|-|38,914| 18 ## **Grace Church Wanstead Notes to the Financial Statements** ## **As at 31 August 2021** |**19 Exceptional item**
Income tax reclaimed in error under gift aid scheme
Employers NIC allowance overclaimed|**2021**
**2020**
**£**
**£**
-
1,650
(12,375)
-| |---|---| ||(12,375)
1,650| ## **20 Members** Each member of the company agrees to contribute £1 if the company is wound up. 19 ## **Grace Church Wanstead** ## **Detailed Statement of Financial Activities For the year ended 31st August 2021** |**INCOMING RESOURCES**
**Voluntary income**
Donations
Charitable activities
**Investment income**
Deposit account interest
**Total incoming resources**
**RESOURCES EXPENDED**
**Charitable activities**
Salaries, travel and expenses
Employers national insurance
Pensions
Conferences and training
Gifts to speakers
Telephone and utilities
Catering
Toddler group
Miscelleous
Grants payable
Donation to third Parties
Venue hire
**Governance costs**
Independent examiners fee
Accounts preparation
Companies House
Other legal and professional
**Support costs**
Subscriptions and professional fees
Insurance
Disclosure and barring service checks
Computer equipment depreciation
**Total resources expended**
Exceptional item
**Net income (expenditure)**|**Unrestricted**
**funds**
**£**
70,613
241
70,854
61
70,916
43,633
1,061
632
-
150
697
-
300
510
4,000
-
4,395
55,377
450
450
13
130
1,043
1,072
296
218
225
1,811
58,231
(12,376)
308|**Restricte**
**d funds**
**£**
500
-
500
-
500
500
500
-
-
-
-
500
-|**2021**
**Total**
**Funds**
**£**
71,113
241
71,354
61
71,416
43,633
1,061
632
-
150
697
-
300
510
4,000
500
4,395
55,877
450
450
13
130
1,043
1,072
296
218
225
1,811
58,732
(12,376)
308|**2020**
**Total**
**Funds**
**£**
56,237
1,324| |---|---|---|---|---| |||||57,561| |||||166| |||||57,727| |||||43,731
-
626
616
318
752
338
-
3,647
4,075
5,100
4,807| |||||64,010| |||||860
-
13
-| |||||873| |||||1,686
294
-
249| |||||2,229| |||||67,112| |||||(1,650)| |||||(11,035)| This page does not form part of the financial statements 20 ## A 21 - 72021 TAR accounts final for signing Final Audit Report 2022-05-16 Created: 2022-05-11 By: James Lambden (james.lambden@hotmail.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAQq61ltXqjvDSzlTcnIiR9bSrZcclee-- ## "A 21 - 72021 TAR accounts final for signing" History Document created by James Lambden (james.lambden@hotmail.co.uk) 2022-05-11 - 18:03:39 GMT- IP address: 82.71.43.181 Document emailed to D.N.Gibbs (davidandjanex5g@gmail.com) for signature 2022-05-11 - 18:05:14 GMT Email viewed by D.N.Gibbs (davidandjanex5g@gmail.com) 2022-05-12 - 10:14:49 GMT- IP address: 66.249.93.87 ## Document e-signed by D.N.Gibbs (davidandjanex5g@gmail.com) Signature Date: 2022-05-12 - 10:16:04 GMT - Time Source: server- IP address: 84.9.22.231 Document emailed to Sylvia Lambden (sylvia.lambden@calculusaccountants.com) for signature 2022-05-12 - 10:16:06 GMT Email viewed by Sylvia Lambden (sylvia.lambden@calculusaccountants.com) 2022-05-12 - 11:52:06 GMT- IP address: 82.71.43.181 Email viewed by Sylvia Lambden (sylvia.lambden@calculusaccountants.com) 2022-05-16 - 12:17:32 GMT- IP address: 82.71.43.181 Document e-signed by Sylvia Lambden (sylvia.lambden@calculusaccountants.com) Signature Date: 2022-05-16 - 12:23:39 GMT - Time Source: server- IP address: 82.71.43.181 Agreement completed. 2022-05-16 - 12:23:39 GMT