INTERNATIONAL GOSPEL CHURCH REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 INTERNATIONAL GOSPEL CHURCH FOR THE YEAR ENDED 31 MARCH 2021 LEGAL & ADMINISTRATIVE D￿AlLs ADDRESS FOR CORRESPONDENCE 102A Watling Avenue Edgware HA8 OLN GOVERNING DOCUME￿[ Declaration of Trust dated 19 April 2007 TRUSTEES P Anderson-walsh IreswJned 3 May 2021) Gmer R Francis P Onrfade {appointed 3 May 2021) REGISTERED CHARITY 1120897 BANKERS Nalwest Bank PIC INDEPENDE￿r EK4MINER Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB INDEX Page 1 Legal & Admintslrative Details Page 24 Trustees. RetK)rt Page S Independent Examine¢s Report Page 6 Receipts and Payments Account Page 7 Statement of Assets & Liabilrties Pages &9 Notes to the Accounts Page 1 INTERNATIONAL GOSPEL CHURCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The Trustees have pleasure in submitting the Rewrt and Accounts for the year ended 31 March 2021. Objects of the charity The Charity seeks to improve the spiritual well-being of the members of the church through Christian education and pastoral care and aims to improve the lrfe chan￿S of those who live in the community, whether church attendees or not. by improving their life chances through social justi programmes. Government The policy and operating decisions of the charity rest with the Trustees who meet regularfy to monitor the activities of the Trust. The minimum number of trustees is three indivKluals wrth no maximum. All trustees must maintain belief and lifestyle consistent with the Christian faith. Trustees must be appointed by a resolution passed by a simple majority at a meeting of the trustees. Every future trustee must sign a declaration of willingness to act as a trustee of the church before he or she is eligible to vote at any meeting of the trustees. Paul Anderson-walsh had indicated that he would step back from leadership in early 2021 and Rian and Anne-marie Francis agreed to take on that role. for which we are grateful. Paul stepped down as trustee in May 2021 and we are grateful to him and Hayley for their many years of seNice to IGC, we wish them well for the future. We want to thank Paul Onrfade for agreeing to take on the role of trustee and elder, also in May 2021. It has been most encouraging to see the posrtive way that the church has responded to the changes and the support given to Rian and Anne-marie as they take on leadership of IGC. Review of Activities The charity is responsible for the running of Intemational Gospel Church. Many activities are run by the Church induding" Sunday worship Mid-week meetings. Prayer meetings. - Youth work, Children's work In common with all church-based congregations the IGC communty's aGtivty has been seriously impacted by Covid 19. At a time vthen the need for our support has increased, our ability to provide it has been compromised by social distancing measures_ For the year under review, the church building was generally dosed and our staff were pla￿d on fudough. This has been very frustrating in temis of inhibib.ng our ability to fulfil our local mission. However, we were able to Continue improving of the spiritual lrfe element of our mandate by providing weekly Sunday online services. We have also continued to provide pastoral care during this difficult time, in particular to the families who have lost loved ones during this period. We re-opened the church buildings in July 2021 and are now using a hybrid model wtih attendees both in person and online. We were able to retain our two employed staff by virtue of the Job Retention Scheme, although both have Sin￿ left our employment. Page 2 The church continues to be mindful that its buildings remain accessible to the people of Bumt Oak. Of course this can only be done in a Covid-19 secure way and when the community feel safe enough to return. The Church works in partnership w51h Bamet and Southgate College who offer lrfe-chance-improving courses for the communty. This provision has been seriously affected by the lockdown. The Church provides a "Love in Action" table whith is stocked with food, toiletries, etc. Donations are received from fellowship members and are open for anyone in need to take, tK)th those within the fellowship and those from outside. The church has for many years supported individuals ether currently involved in. or retired from, mission overseas. The trustees received regular reports from the individuals and carried out an annual review of this support. This specific support came to an end at 31 March 2020, and this has enabled the leadership to take a fresh look at what mission might mean, particularly in the local context of being located in one of the poorest wards in Bamet. The church also supports those in need within fellovtship and the wder community. both in food and other provisions and in financial gifts. The trustees will consider supporting other causes both overseas and in the UK, with all decisions being made by the trustees. The trustees wish to pla￿ on record the contribution rnade to the worf( of the church by its many volunteers. Many give of their time freely and this is much appreciated. Financial Review & Reserves Policy In planning the activities of the Charity the Trustees have applied the guidan￿ on public benefit issued by the Charity Commission. Our main sources of income were donations from Church members and rental income from the buildings. We also re￿iVed a number of gtfts and other income towards specific activities and causes and £15,545 from the Government under the Job Retention Scheme. Total general income for the year was £73,700 (2019120.. £108.303). Total re￿iptS V￿re £75.208 (2019120". £110,959). Total general expenditure for the year was £71.121 (2019120-. £105,374), all in support of furthering the church's activities. Total payments vRre £73,321 {2019120- £133.306). There was a net surplus for the vear of £2.57812019120: £2.9291 in qeneral funds. Page 3 General reserves at 31 March 2021 are in surplus at £4.241 {2020". surplus £1.662). There were also £5.934 gift aid tax recoveries due to the charity at 31 March 2021. The Capital Projects fund balan￿ has reduced to £35,643 at 31 March 2021 (3113120. £37,343). Payments in the year comprised £1.200 for a new keyboard as part of our media upgrade and £500 for electrical work. Trustees anticipate this balan￿ being further red￿￿d going forward. Restricted funds al 31 March 2021 total £13,380 (3113120.. £12,372). The trustees are mindful of the need to retain suffiuent reserves to cover future expenditure and to allow for unexpected falls in income or unforeseen expenditure. Following the sale of the property in 2015116, the trustees transferred funds to a long temi capital projects fund to cover the cost of a number of major projects to UFYJrade the buildings and equipment. The trustees, policy is to build up the geneial fund reserves to a level which would cover aboLrt 2- 3 months operating costs. The trustees have detemiined that the charity should aim to hold unrestricted cash of no less than £26.000 (which equates to about approximatety 3 months. of unrestricted expenditure) so that the charity could continue to OFErate should income and l or expenditure vary adversely. At the year end. the chanty held unrestricted cash of £39.000 and the charity is complying with its reserves policy. I ne erreci OT iovia-i y ana ine closing oi our premises nas Impaaea our Income, In panicuiar tnai provided from the weekly offerings and also from our hirers. It has been good to see church members respond financially in giving online. Trustees have received regular financial updates to enable them to make decisions throughout this difficult penod. We have been able to cut costs where possible and this, together with the online gNing, has meant we could end the year in surplus. Trustees, Responsibilities Charity law requires us as Trustees to prepare financial ststements for each accounting year which record the re￿iptS and payments of the charity for the year. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Ad 2011. We also have a responsibilty to safeguard the assets of the chanty and to take reasonable steps to prevent fraud or any other irregularities. Approval This report was approved by the trust&s and signed on their behalf on by: Date: 17 January 2022 Graham Meror Page 4 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INTERNATIONAL GOSPEL CHURCH I report to the trustees on my examination of the accounts of Intemational Gospel Church ('tha charity'l for the year ended 31 March 2021 on pages 6 to 9 folloNMng. Responsibllities and basls of report As the trustees of the charity yOLt are reskKJnsible for the preparation of the accounts in accordan￿ with the requirements of the Charities Act 2011 (Ihe 2011 Act,). I report in respect of my examination of the chariws accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Comrnission under section 145(5)(b) of the 2011 Ad. Independent examinerfs ststement I have completed my examination. I confirm that no material matters have come to my attenlion in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in a(xx)rdance viith section 130 of the 2011 Act" or 2. the accounts do not accord bwih the accounting records. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reach Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB Date.. 19 January 2022 Page 5 INTERNATIONAL GOSPEL CHURCH RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Notes UnrestrKtsd bjnds General tlesignated Restricted Funds 2021 2020 Rgc8ipts Voluntary tsceipts Donations Govemment grants other grants Legacies Gift aid receipts 28.488 15,545 1.328 29.814 15.545 45.795 11,500 183 11.683 13,244 55,$33 1,508 57.042 59.040 oth&rTrceipls Interest recèived Letting5 Other 110 17,583 474 110 17,583 474 334 50,854 731 Total Receipts 73.700 1,508 75,208 110,959 Payments Payments in furthe￿￿¢* of the ¢huKh's obftctves Direct costs 71.121 1.700 73.321 128,672 Grants paid 4,634 Total Payments 71,121 1,700 73,321 133.306 Net ReceiptsllPaymentsl before transfers 2.578 -1.700 l.(M)8 1,887 -22.348 Transfers between funds Net MoV￿Ment in Funds 2.578 -1,700 1,887 -22,348 Balances at 31 ma￿ 2020 1.662 37.343 12.372 51,378 73,726 Balances at 31 March 2021 4,241 35,643 13.380 53.264 51,378 The note5 on pages 8 and 9 fom) part of these accounts. PaJe 6 Ii¥tERNATIONAL GOSPEL CHURCH STATEMENT OF ASSEfs & UABILrriES FOR THE YEAR ENDED 31 IAARCH 2021 1. Fixed Assets Estimate Market Value Irtsuran￿ Value The value ofthe assets are.. Freehold Churth Buikling(1￿ts WaUH¥J Avenue) Eouiprnent 2,764.486 89.617 2.854.103 The chur¢h property at 102a WadiThJ Avenue (thY*d by the Stwdrrjs Conyany and church are tenants in per￿lUity at a peppercorn tent of £1 per year. are tthng p*t 7*7th a view to Ihe Stthvards Company transferring their ownership lo the Church Growth Trust. 2. Bank & ¢a$h Balances 2021 2020 Current a￿tsrt DetM)srt account Business reserve C&8h fioats 4.152 13.380 17.647 35.528 20 69 53264 35,528 45.419 20 495 51.378 20 4.241 35,643 13.380 3. OtherA880ts & Liabllrties 2020 Assets Grft tsx recovery not)et Letting5 iD￿ced but not re￿Ned prepa￿ costs 163 6,097 3.256 1.742 11.¢ 11.221 1.828 1.937 14.785 1.742 10.932 163 LNabilities Independent ExaminatK Promised M￿S1O￿ary gift supwl LettirGs receNed in advan I,LK)O 375 4.430 408 6,214 375 375 7,254 820 9,449 6,214 The accountsw￿ approved by Ihe trustees arKt syrEd on ￿1r beha￿0￿ ty. Graham Mer￿r 17 Janua 2022 The notes on page5 8 and 9 fomi part ofthpse acwJni5. Paje 7 NOTES TO THE ACCOUIITS FOR THE YEAR ENDEO 31 IIARCH X*21 1. Accounting Pollc l DirÈcteLXSts Total 2021 Total 2020 Furwjs FurKIs Furxls Employment costs Properly costs ExpensÉs Support swvKe5 Trainir Events arKJ publicity Worship and teachi Governance Wotk arnorvj the young FdlowshSp 32.654 23.755 35,121 75,521 23.255 12.554 12.554 13,577 70 975 906 2.222 930 338 71.121 838 73.321 1.222 128 672 3. Grants Pald Indiwduals Institutions 4.634 4.634 No grants %4Ere made to ir￿t￿Ul1(￿E in ttE 5wrl2019f2tr. £N 4. Employees Atts end ofthe ￿ar. thanty had ore p•J P020.- lYKJl. Gowemment grant Total 2021 S. Propèrty c¢)sts FurAts 2020 Chwth t￿ik11￿ tunnnig cosis Major tefurtxslynent to d)urch buthliNJ 23.255 23.255 49.599 25.922 23.255 Page 8 INTERNATJONAL GOSPEL CHURCH NOTES TO THE ACCCKJNTS FOR THE YEAR ENDED 31 IAARCH 2021 SupportseThk8¥ pport stFvKe5 indudes £5,35512019r20". £NS) pahj to Ft*Wi5 Frar*is (FFS) utxleran.amis Wlt. segviTr delivery ag￿mert whetEby A￿r￿malle FtarKy5 pfovK1es pastoral. k&ler51Mp aTrJ ollwseryw. FFS a L¥msuttancy manawj Ly Fian •t knrE-Mar* FrarKi¥. 7. 14ovemertol Spo¢i*l Funds BabrK* 81 Balants 3113121 BU1￿1￿ hj Missron futKIs Youth furKIs Felbwship lurKJs PA equipmern OlherfurKI$ &7T3 8,773 774 413 -25 2.377 12.3T2 774 1.273 25 124 2.5D1 13.380 Destynated Capital k¥(4ed5 fiJr*Y 37.343 37.343 -1.700 -1.70D 35.643 35.643 Caprtal Propds fund vrds Set UP (￿1r￿j lal I￿5 receNed in 2014 from an insw8￿* daxn in rtsped oflhÈ church bUi￿l￿gS called'The Pitslop" %Yhth had been burtrt dw, Ibl futKts Irom Sa￿ of a 201Y16 atxl Icl other it)suran(e cjaims ana gaoes. The futKls are bwrvJ ￿ for the t(m￿K￿rab￿ ¢xpikl cosls ha¥e la51fws*ats, te Lk%ed going fomard as ￿ install d￿b￿d acw ouvmfrnsltu￿ as refwited. 8. Funds received and ￿ld as agem. advancesto supp￿tAd chaiity Dunng 2019r20 funds There re￿iVed ar￿ Pa￿ ￿ behaw of anots dwty. oak". t[￿ £170. Tlwe [%) s bar￿C￿on$ in 20W21 arxl ltrwe rKs bal¥KE1￿ at 31 2021131r¥20.. £N￿l.