Centre for Theology and Community Limited Report and Accounts
Year ended 31 March 2021
CENTRE FOR THEOLOGY AND COMMUNITY LIMITED
FOR THE YEAR ENDED 31 MARCH 2021
COMPANY INFORMATION
Directors/Trustees
Mr John Deacon, (Chair of Trustees) Revd Vanessa Conant Sr Josephine Canny Pastor Cecilia Dewu (appointed 2/7/20)
Mr John Deacon
Company Secretary Mr John Deacon Executive Director Canon Dr Angus Ritchie Governing Document Company Registration Number 05848143 Charity Registration Number 1121648 Registered Office East Crypt St George-in-the-East 14 Cannon St Road London E1 0BH
Canon Dr Angus Ritchie
Memorandum and Articles of Association
Independent Examiner
Derek Rodwell ITF Ltd Bennett Verby 7 St Petersgate Stockport Cheshire SK1 1EB
Bankers The Co-operative Bank plc P.O. Box 101 1 Balloon Street Manchester M60 4EP
CONTENTS
| Page | |
|---|---|
| Company Information | 1 |
| Directors Report | 2-5 |
| Independent Examiner's Report | 6-7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Accounts | 10-13 |
Page 1
CENTRE FOR THEOLOGY AND COMMUNITY LIMITED REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2021
The Directors have pleasure in submitting the Report and Accounts for the year.
Objects of the charity
The object of the Centre for Theology and Community Limited is ‘to advance public knowledge and mutual understanding of the teachings, traditions and practices of different faith communities including promoting good relations between persons of different faiths in particular but not exclusively by providing education and training, developing a network in order to share good practice and experience, by facilitating supervised placements for students and by engaging in research.’
Our main area of operation is East London, and much of our work is with Christian congregations – equipping them to work with their neighbours for community transformation, through the practices of community organising, theological reflection and prayer, and helping them to use their resources more effectively to fulfil this mission. A key partner in this work is Citizens UK, and its local affiliate, London Citizens.
Governance
The organisation is a charitable company limited by guarantee, incorporated on 15th June 2006 and registered as a charity on 21st November 2007. The company was established under a Memorandum of Association, which established its objects and powers, and is governed by its Articles of Association. In the event of the company being wound up, its members are required to contribute an amount not exceeding £1.
Recruitment and appointment of members of the Trustee Board:
The directors of the company are also charity Trustees for the purposes of charity law. At the end of the first year, all Trustees are required to retire, and one third will do so at subsequent Annual General Meetings. The Trustees have all received training on their responsibilities, and the Chair of Trustees is responsible for the induction of new Trustees, when the occasion arises. This involves ensuring awareness of a Trustee's responsibilities, the governing document and the work of the charity.
Organisational Structure:
The Trustees are responsible for setting policy and strategy. Day-to day management and running of the charity is delegated to Canon Dr Angus Ritchie, the Executive Director.
Membership:
The membership of the charity currently comprises John Deacon (Chair), Vanessa Conant, Cecilia Dewu and Josephine Canny.
Page 2
Achievements and Performance
On March 23 2020 – just eight days before the start of this financial year – England entered its first Coronavirus lockdown. This hugely challenging and painful time has tested the resilience and effectiveness of the Centre’s work, and shown the power of community organising to develop local leaders, strengthen their institutions, and enable them to act together for the common good.
The Trustees want to pay tribute to the dedication and creativity of the staff team and of the people and congregations with whom they work in these challenging times.
I. Congregational Development
Our Congregational Development work developed at a new depth this year, with as the first two Partner Congregations joined our programme on Harnessing the Potential of Community Organising for Congregational Growth. Despite the pandemic, this work has had a measurable impact on attendance, leadership development and social impact. The programme has funding from the Church of England’s Strategic Development Fund, and conversations are developing about parallel programmes for Roman Catholic and Pentecostal congregations.
The Centre’s partnership with the Parish of St George-in-the-East continues to support the church on a parallel journey, and an exciting partnership is developing (with funding from the Diocese of London) for the planting of a church for low-waged workers on the City fringes of the parish and into the City of London itself (the “Eastminster” area).
2. Urban Leadership School
While we continue to offer internships to students from outside east London, through our thriving Buxton Leadership Programme, we have continued to developing our streams of activity focused more on local people. The Wagstaff Course is a year-long evening class in faith and organising, and is now integrated into our new model of Congregational Development. It has continued to grow and develpp, equipping local leaders to respond practically and spiritually during the pandemic. Our pioneering Chaplaincy at London Design and Engineering University Technical College (DLE UTC) has also proved its worth during the pandemic, and we are continuing to develop plans for a Community Organising Apprenticeship programme, with seed funding from Near Neighbours.
3. Missional Enterprise
Tim Thorlby continues to be on secondment, managing Clean for Good, which has demonstrated the viability of its ethical business model. The Trustees are grateful to the leadership he has shown, and to the hard work of all the staff of Clean for Good, which has enabled the company to weather a very challenging year and emerge stronger and more secure.
Page 3
4. Neighbourhood Organising
We continue to deliver the Near Neighbours Programme in eastern London for HM Government and the Church Urban Fund, and have a particular focus on the way community organising can help to create and deepen relationships across faiths and cultures. In east London, the programme is blending the approach of broad-based community organising with that of asset-based community development in ways that are mutually beneficial.
Our work in Shadwell exemplifies this approach at a particular intensity and depth, with the “Shadwell Responds” neighbourhood alliance emerging during the pandemic – coordinating mutual care and aid and acting to address structural injustices.
5. Research and Reflection
All of our action is rooted in theological reflection and prayer. During the pandemic, we have produced blogs, podcasts and opinion pieces to equip congregations and their leaders – and laid the foundations for an online international conference on “A Politics Rooted in the People”, which was convened in response to Pope Francis’ book Let Us Dream , and took place after the year end.
.
Future Plans
The Trustees look forward with confidence, as the pandemic has shown the resilience and power of the Centre’s approach -
In planning these activities, the Trustees have had regard to the guidance on public benefit issued by the Charity Commission in December 2008.
Reserves policy
The Trustees recognize the need for a reasonable level of reserves to protect the charity from fluctuations in funding and sudden emergency requirements. As indicated last year, our aim has been to build up free unrestricted reserves to three months’ unrestricted costs and this year saw progress towards that target.
Trustees therefore consider it to be appropriate to prepare the financial statements on a going concern basis as the charity is able to meet its day to day working capital requirements and this is not expected to change in the next year.
The Charity's accounting period ended on 31 March 2021. Unrestricted free reserves at 31 March 2021 were £12k (up from £10k in 2020). The aim in 2021/22 is to build up our free reserves to our target of three months’ worth of unrestricted costs (£45k in terms of current expenditure).
Restricted reserves increased during the year from £9k to £49k.
Financial Review
Income increased markedly during the year from £353k in 19/20 to £467k including an increase of £105k on restricted funds.
Page 4
Expenditure also increased in line with the income from a total of £352 in 19/20 to £424k in 20/21.
Principal Funding Sources
The main funders for the year and income relating to the year for each funder are outlined in the accounts.
Conflicts of Interest
The Trustees regularly review potential conflicts of interest, and will be mindful of this in the recruitment and training of any new Trustees in the year ahead.
Risk Statement
We continue to keep the Charity’s risks under regular review, and are conducting more detailed risk assessments for our major projects.
Directors' Responsibilities
Charity law requires us as Directors to prepare financial statements for each accounting year which give a true and fair view of the state of the charity and of its income and expenditure for the year.
-
Select suitable accounting policies and apply them consistently
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Make judgements and estimates that are reasonable and prudent
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State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.
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4.Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
We are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable us to ensure that the financial statements comply with the Companies Act 2006.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
Preparation of the report
This report of the Board of Trustees has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.
20 December 2021
The report was approved by the directors on …………………………………….. and signed on their behalf by:
…………………………………………………..
John Deacon: Secretary
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF Centre for Theology and Community Limited ('the Company')
Independent examiner’s report to the Trustees of The Centre for Theology and Community Ltd
I report on the financial statements of the charitable company for the year ended 31 March 2021, which comprise the statement of financial activities, balance sheet, related notes and are set out on pages 8 to 13.
Respective responsibilities of trustees and examiner
The charity’s trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 145 of the Charities Act 2011 (the 2011 Act). The charity is required by company law to prepare accrual based accounts.
Having satisfied myself that the charity is not subject to audit under part 16 of the 2006 Companies Act and is eligible for independent examination, it is my responsibility to:
-
examine the financial statements under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters that I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to any other than the charity and the charity’s trustees as a body for my examination work, for this report or for the statements that I have made.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in Section 145 of the 2011 Act. I confirm that I an qualified to undertake the examination because I am a member of the Chartered institutute of Certified Accountants which is one of the listed bodies.
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I have completed by examination. I confirm that no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 386 of the Companies Act 2006 and section 130 of the 2011 Act ; and
Page 6
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Companies Act 2006 and Regulation 8 of the Accounts Regulations and the 2011 Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Derek Rodwell FCCA, Impact the Future Ltd, Bennett Verby, 7 St Petersgate, Stickport, Cheshire, SK1 1EB
Date: 21[st] December 2021
Page 7
CENTRE FOR THEOLOGY AND COMMUNITY LIMITED
Statement of Financial Activities
FOR THE YEAR ENDED 31 MARCH 2021
Summary Income and Expenditure Account
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | Funds | Funds | ||
| Note | 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | |||||||
| Donations, grants and legacies | 2 | 7,317 | 285,663 | 292,980 | 11,979 | 179,571 | 191,549 |
| Incoming resources from charitable activities | |||||||
| Fee and consultancy income | 173,622 | 0 | 173,622 | 159,269 | 0 | 159,269 | |
| Other income and endowments | 0 | 0 | 0 | 1,950 | 0 | 1,950 | |
| Total income and endowments | 180,939 | 285,663 | 466,602 | 173,198 | 179,571 | 352,769 | |
| EXPENDITURE ON | |||||||
| Charitable activities | 3 | 178,589 | 245,819 | 424,408 | 178,075 | 173,957 | 352,031 |
| Total expenditure | 178,589 | 245,819 | 424,408 | 178,075 | 173,957 | 352,031 | |
| Net Movement in Funds | 2,350 | 39,844 | 42,194 | (4,877) | 5,614 | 737 | |
| Transfers between funds | |||||||
| Reconciliation of funds: | |||||||
| Total funds brought forward | 20,155 | 9,047 | 29,202 | 25,032 | 3,433 | 28,465 | |
| Total funds carried forward | 22,505 | 48,891 | 71,396 | 20,155 | 9,047 | 29,202 |
Movements on reserves and all recognised gains and losses are shown above.
The notes on page 10-13 form part of these accounts.
Page 8
BALANCE SHEET
FOR THE YEAR ENDED 31 MARCH 2021
| Note FIXED ASSETS Investments 5 Tangible assets CURRENT ASSETS Debtors 6 Cash at bank 7 CURRENT LIABILITIES Liabilities falling due within one year 8 Net Current Assets/(Liabilities) NET ASSETS/(LIABILITIES) FUND BALANCES Unrestricted funds 10 General Funds Restricted Funds 10 |
Unrestricted Restricted 2021 2020 Funds Funds £ £ £ £ 10,000 0 10,000 10,000 189 0 189 377 |
|---|---|
| 10,189 0 10,189 10,377 12,184 9,000 21,184 4,413 8,586 59,573 68,159 44,722 |
|
| 20,770 68,573 89,343 49,135 |
|
| 8,454 19,682 28,136 30,310 |
|
| 12,316 48,891 61,207 18,825 |
|
| 22,505 48,891 71,396 29,202 |
|
| 22,505 22,505 20,155 48,891 48,891 9,047 |
|
| 22,505 48,891 71,396 29,202 |
For the period ended 31 March 2021, the company was entitled to the exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
Responsibilities of directors/trustees:
a. The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with Section 476 of the Companies Act - however, in accordance with Section 145 of the Charities Act 2011 the accounts have been examined by an independent examiner whose report forms part of this document.
b. The directors/trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Directors and signed on their behalf on the 20 December 2021 by:
--------------------------------------John Deacon Company number: 05848143 Charity number: 1121648
The notes on page 10-13 form part of these accounts.
Page 9
CENTRE FOR THEOLOGY AND COMMUNITY LIMITED
Notes to the Accounts FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting Policies
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless states in the relevant note(s). 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 Repubkic of Ireland (FRS 102) issued on 16 July 2014 and the Charities Act 2011.
The Centre for Theology and Community Limted (the "Charity" or "Company") meets the definition of a public benefit entity under FRS 102. The financial statements are prepared under the historical cost convention, with the exception that investments are included at fair value.
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Reconciliation with previous Generally Accepted Accounting Policies
In preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP (FRS 102), any restatement was required to comparative or opening balances. No adjustments were considered necessary.
a) Donated and grant income:
Donated income and grants receivable are generally taken into account when received by the charity. Grant funding is also recognised in situations where entitlement to the funding is obtained by the charity but where funds have not been received (see note 6). In addition, elements of grants are deferred where performance related conditions are not met by the end of the accounting year (see note 9). Income received in circumstances where a claim for repayment of tax has been or will be made to HM Revenue & Customs is grossed up for the tax recoverable. Any amount of tax reclaimed from HM Revenue & Customs but not yet received is shown within the charity's debtors.
b) Other income and expenditure:
Investment income is taken into account when receivable.
c) Funds:
Unrestricted funds are donations and other income received or generated for the objects of the charity without specified purpose and are available for purposes as directed by the trustees. Restricted funds are amounts received where the donor has specified the purpose for which it should be used.
d) Fixed assets and depreciation:
Fixed assets acquired for use by the charity are capitalised and depreciated over their estimated useful life unless they cost less than £500 when they are written off on purchase.
Depreciation periods are as follows:
Freehold land Not depreciated Freehold buildings Over 50 years Equipment Between 3 and 7 years
e) Pension costs:
The company operates a defined contribution scheme for certain employees. Pension premiums are charged as they are paid.
f) Taxation
The company is a registered charity and is exempt from taxation under the Income & Corporation Taxes Acts.
g) Cashflow statement
The company has taken advantage of the exemption provided by the Financial Reporting Standard 1 and has not prepared a Cash Flow Statement for the year.
h) Investments
Investments are a form of basic financial instrument and are initially recognised at their transactional value and subsequently measured at their fair value as at the balance sheet date. The Statement of Financial Activities inludes net gains and losses arising on revaluations and disposals throughout the year.
i) Going concern
The Trustees believe the charity to be a going concern because most staff members come with funding, and are only on contract for the period of that funding. The charity has managed to secure an increasing number of these grants which are guaranteed across several years.
| 2 | Voluntary income | Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2021 | Funds | Funds | 2020 | ||||
| £ | £ | £ | £ | £ | £ | ||||
| Grants | 5,600 | 282,100 | 287,700 | 9,230 | 176,880 | 186,110 | |||
| General donations | 1,717 | 3,563 | 5,280 | 2,749 | 2,691 | 5,440 | |||
| 3 | Charitable activities | 7,317 | 285,663 | 292,980 | 11,979 | 179,571 | 191,549 | ||
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||||
| Funds | Funds | 2021 | Funds | Funds | 2020 | ||||
| a | Direct Charitable Costs | £ | £ | £ | £ | £ | £ | ||
| Staff & Management costs | 149,331 | 181,771 | 331,103 | 142,666 | 137,550 | 280,216 | |||
| Consultants | 9,917 | 21,140 | 31,057 | 17,877 | 2,548 | 20,425 | |||
| Office costs | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Software & IT | 86 | 726 | 813 | (195) | 246 | 51 | |||
| Printing, postage and stationery | 0 | 575 | 575 | 121 | 277 | 398 | |||
| Projects - General Expenses | 1,500 | 5,699 | 7,199 | 29 | 6,802 | 6,831 | |||
| Travel and subsistence | 183 | 53 | 237 | 225 | 1,542 | 1,767 | |||
| Training/Development | 5,000 | 3,992 | 8,992 | 0 | 1,063 | 1,063 | |||
| Grant Payment | Note 3c | 10,000 | 0 | 10,000 | 0 | 0 | 0 | ||
| 0 | 0 | ||||||||
| 176,018 | 213,957 | 389,975 | 160,722 | 150,028 | 310,750 |
Page 10
CENTRE FOR THEOLOGY AND COMMUNITY LIMITED
| b c |
Notes to the Accounts FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Restricted Total Unrestricted Restricted Total Funds Funds 2021 Funds Funds 2020 Support Costs £ £ £ £ £ £ Bank charges 0 0 1 29 0 30 Rent, rates and utilities 12,000 0 12,000 20,514 0 20,514 Office costs 0 0 0 562 0 562 Software & IT 2,231 0 2,231 2,059 0 2,059 Printing, postage and stationery 0 0 0 398 0 398 Repairs and maintenance 0 0 0 1,156 0 1,156 Overheads (31,862) 31,862 0 (23,929) 23,929 0 Advertising 0 0 0 0 0 0 Staff & Management costs (1,166) 0 (1,166) 141 0 141 Insurance 1,594 0 1,594 1,413 0 1,413 Bad debt 0 0 0 0 0 0 General expenses 4,050 0 4,050 914 0 914 Travel and subsistence 0 0 0 281 0 281 Accountancy and payroll 13,924 0 13,924 11,964 0 11,964 Independent Examination 1,800 0 1,800 1,850 0 1,850 Training/Development 0 0 0 0 0 0 2,571 31,862 34,433 17,353 23,929 41,283 Combined charitable activity cost 178,589 245,819 424,408 178,075 173,957 352,032 Grants Institutions Individuals 2021 Institutions Individuals 2020 £ £ £ £ Community grants 10,000 - 10,000 - - 10,000 - 10,000 - - |
Notes to the Accounts FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Restricted Total Unrestricted Restricted Total Funds Funds 2021 Funds Funds 2020 Support Costs £ £ £ £ £ £ Bank charges 0 0 1 29 0 30 Rent, rates and utilities 12,000 0 12,000 20,514 0 20,514 Office costs 0 0 0 562 0 562 Software & IT 2,231 0 2,231 2,059 0 2,059 Printing, postage and stationery 0 0 0 398 0 398 Repairs and maintenance 0 0 0 1,156 0 1,156 Overheads (31,862) 31,862 0 (23,929) 23,929 0 Advertising 0 0 0 0 0 0 Staff & Management costs (1,166) 0 (1,166) 141 0 141 Insurance 1,594 0 1,594 1,413 0 1,413 Bad debt 0 0 0 0 0 0 General expenses 4,050 0 4,050 914 0 914 Travel and subsistence 0 0 0 281 0 281 Accountancy and payroll 13,924 0 13,924 11,964 0 11,964 Independent Examination 1,800 0 1,800 1,850 0 1,850 Training/Development 0 0 0 0 0 0 2,571 31,862 34,433 17,353 23,929 41,283 Combined charitable activity cost 178,589 245,819 424,408 178,075 173,957 352,032 Grants Institutions Individuals 2021 Institutions Individuals 2020 £ £ £ £ Community grants 10,000 - 10,000 - - 10,000 - 10,000 - - |
|---|---|---|
| 2,571 31,862 34,433 17,353 23,929 41,283 |
||
| 178,589 245,819 424,408 178,075 173,957 352,032 |
||
| Institutions Individuals 2021 Institutions Individuals 2020 £ £ £ £ 10,000 - 10,000 - - |
||
| 10,000 - 10,000 - - |
The charity supports community work in the UK. Where a particular missionary has been supported by the church for a number of years, strict compliance with the Charities' Statement of Recommended Practice (SORP) may suggest some arrangements as constituting constructive obligations such that future years' support is accounted for in these accounts as a liability. Whilst the support has no final end date in some cases, the church officers assess missionary funding on an annual basis and are confident that they have not communicated a specific commitment nor would missionaries view their support as open-ended obligations by the church.
| The main features of the grants made were: | 2021 | 2020 | |
|---|---|---|---|
| Oblates of the Assumption - Sister Therese Boraturamye's services, Chaplaincy support | 10,000 | - | |
| 10,000 | - | ||
| 4 | Staff & Trustees | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Gross wages, salaries & benefits in kind | 259,247 | 243,519 | |
| Employer's National Insurance costs (net of employers allowance of £4k) | 16,431 | 16,447 | |
| Pension costs | 11,644 | 10,293 | |
| Total staff costs | 287,322 | 270,259 |
The charity has 7.9 full time equivalent employed staff (2020: 7.7).
No staff received salaries at a rate of more than £60,000 per annum. Angus Ritchie is considered to be key management personnel.
Total remuneration paid to key management as defined by the SORP is £55,482 (2020:£55,521).
No remuneration was paid to any trustee during the year nor to any person connected to them.
5 Tangible Fixed Assets
| Cost At 1 April 2020 Additions At 31 March 2021 Accumulated Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 1 April 2020 |
Program related Investments Computer equipment Total & furniture 2021 £ £ 10,000 2,941 12,941 - - - |
|---|---|
| 10,000 2,941 12,941 |
|
| - 2,564 2,564 - 188 188 |
|
| - 2,752 2,752 |
|
| 10,000 189 10,189 10,000 377 10,377 |
Page 11
CENTRE FOR THEOLOGY AND COMMUNITY LIMITED
Notes to the Accounts FOR THE YEAR ENDED 31 MARCH 2021
The charity has a program related investment in the unlisted share capital of Clean for Good Ltd. The £10,000 investment is less than 20% of the issued share capital and does not therefore constitute a subsidiary, joint venture or associate of the Charity. The Trustees assessed the fair value of the company based on the net book value as at the balance sheet date and projected income for the next accounting period.
| the balance sheet date and projected income for the next accounting period. | |||
|---|---|---|---|
| 2021 | 2020 | ||
| 6 | Debtors and Prepayments | £ | £ |
| Trade debtors | 21,184 | 3,313 | |
| Accrued income | 0 | 1,100 | |
| 21,184 | 4,413 |
Accrued income represents amounts receivable where entitlement for grant funding is obtained by the charity, normally when the offer of funding is communicated in writing by the grantor, but payment has not been received by the year end.
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| 7 | Cash at Bank and in Hand | £ | £ | |||
| Bank operating accounts | 68,159 | 44,722 | ||||
| 68,159 | 44,722 | |||||
| 8 | Creditors: liabilities falling due within one year | |||||
| Trade creditors | 11,983 | 24,981 | ||||
| Taxation and social security | 463 | 248 | ||||
| Accruals | 3,000 | 1,800 | ||||
| Deferred Income (Note 9) | 12,246 | 3,000 | ||||
| Other creditors | 445 | 281 | ||||
| 28,136 | 30,310 | |||||
| 9 | Deferred Income | Opening | Income released | Income | Closing | |
| balance | in year | deferred | balance | |||
| £ | £ | £ | £ | |||
| Donation and grant income deferred | 3,000 | 0 | 9,246 | 12,246 | ||
| 3,000 | 0 | 9,246 | 12,246 |
The deferred income at the year end primarily reflects the element of grants received in the year or previous years with performance related conditions which had not been completed until after the accounting period had ended.
10 Restricted Funds
The restricted funds represent amounts received for specific purposes and the movements in the year are as follows:
| Opening | Opening | Incoming | Outgoing | Closing | Incoming | Outgoing | Closing | Closing | |
|---|---|---|---|---|---|---|---|---|---|
| balance | resources | resources | balance | resources | resources | balance | |||
| 2020 | 2020 | 2020 | 2020 | 2021 | 2021 | 2021 | |||
| £ | £ | £ | £ | £ | £ | £ | |||
| Bishop of Barking | 0 | 0 | 0 | 0 | 2,000 | (2,000) | 0 | ||
| Bishop of Durham | 0 | 2,500 | (2,500) | 0 | 2,500 | (2,500) | 0 | ||
| Bishop of London | 0 | 2,500 | (2,500) | 0 | 2,500 | (2,500) | 0 | ||
| Boston College | 0 | 0 | 0 | 0 | 2,500 | (2,268) | 232 | ||
| Buxton 180 | 149 | 2,266 | (2,415) | 0 | 2,262 | (2,262) | 0 | ||
| Buxton 180 (Primrose Hill) | 0 | 221 | (221) | 0 | 0 | 0 | 0 | ||
| Camellia Trust | 0 | 10,000 | (7,919) | 2,081 | 10,000 | (7,172) | 4,909 | ||
| Christians in Politics | 0 | 12,038 | (12,038) | 0 | 3,250 | (3,250) | 0 | ||
| Church of England- housing | 0 | 600 | (600) | 0 | 0 | 0 | 0 | ||
| Church of England- SDF | 0 | 20,500 | (20,500) | 0 | 82,775 | (79,583) | 3,192 | ||
| Church Urban Fund (RPHT) | 0 | 12,137 | (12,137) | 0 | 0 | 0 | 0 | ||
| Church Urban Fund (Near Neighbours) | 0 | 47,000 | (47,000) | 0 | 82,575 | (66,907) | 15,668 | ||
| Citizens UK | 0 | 5,000 | (5,000) | 0 | 0 | 0 | 0 | ||
| Good Faith Partnership | 0 | 4,838 | (4,838) | 0 | 0 | 0 | 0 | ||
| Individual donations | 120 | 205 | (325) | 0 | 1,301 | (1,301) | 0 | ||
| James Knott Trust | 0 | 10,000 | (10,000) | 0 | 8,500 | (8,500) | 0 | ||
| Jerusalem Trust | 0 | 7,767 | (7,767) | 0 | 0 | 0 | 0 | ||
| Lillian Nash | 3,164 | 12,000 | (8,198) | 6,966 | 0 | (6,966) | 0 | ||
| Lombard Parish | 0 | 0 | 0 | 0 | 53,500 | (28,609) | 24,891 | ||
| London Diocesan Fund | 0 | 3,000 | (3,000) | 0 | 6,000 | (6,000) | 0 | ||
| MB Reckitt | 0 | 2,000 | (2,000) | 0 | 0 | 0 | 0 | ||
| National Lottery Community Fund | 0 | 0 | 0 | 0 | 10,000 | (10,000) | 0 | ||
| St George in the East- housing | 0 | 6,000 | (6,000) | 0 | 0 | 0 | 0 | ||
| St George in the East- resource churches | 0 | 18,000 | (18,000) | 0 | 16,000 | (16,000) | 0 | ||
| St Mary's Church Battersea | 0 | 1,000 | (1,000) | 0 | 0 | 0 | 0 | ||
| Total | 3,433 | 179,571 | (173,957) | 9,047 | 285,663 | (245,819) | 48,891 |
Bishop of Barking relates to additional funding for the Organising for Growth project in the Barking Area
The Bishop of London, Bishop of Durham and Christians in Politics grants are towards the Buxton programme coordinator
Boston College - funding for preparations for online conference with Pope Francis
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CENTRE FOR THEOLOGY AND COMMUNITY LIMITED
Notes to the Accounts FOR THE YEAR ENDED 31 MARCH 2021
The Buxton 180 fund and James Knott Trust relates to donations in support of interns working on the Buxton Leadership Programme and those who supervise them. The particular focus of the James Knott Trust’s support is interns working on housing and homelessness.
The Camellia Trust fund is supporting the advancement of the affordable housing campaign in Shadwell, with a particular focus on engaging both pupils and parents in local schools. The grants from the Church of England are towards researching church-linked housing actions and an SDF grant towards the congregational development programme (see annual report)
The Church Urban Fund is funding CTC’s delivery of the Near Neighbours programme which seeks to promote engagement across faiths and cultures in eastern London. It also gave grants towards the 'Real People, honest talk' programme.
The Citizens UK, Jerusalem trust and Lillian Nash grants went towards the project to promote community engagement in Pentecostal churches
The Good Faith Partnership gave toward the Buxton Leadership programme
Lombard Parish - funding for the Eastminster Project with low-waged workers and homeless people
The London Diocese Fund grant is towards the congregational development for Colindale Churches
The MB Reckitt grant is towards the "reading the bible with the poorest' project
National Lottery Community Fund - funding for pandemic response by Shadwell Responds
The grants from St George in the East are towards the resource church and affordable housing projects
The grant from St Mary's church Battersea was towards the congregational development (learning communities) project
11 Analysis of Net Assets between Funds
| Fixed Assets Current assets Current liabilities Net Assets |
Unrestricted Restricted Total Unrestricted Restricted Total 2021 2021 2021 2020 2020 2020 10,189 0 10,189 10,377 0 10,377 20,770 68,573 89,343 37,086 12,048 49,135 (8,454) (19,682) (28,136) -27,310 (3,000) -30,310 |
|---|---|
| 22,504 48,892 71,396 20,153 9,048 29,202 |
12 Events since the year end None
13 Members
Each member of the company commits to contribute if the charity is wound up an amount of £1.
14 Related Party Transactions
Sr Josephone Canny is a trustee and also a member of the Oblates of the Assumption. In 2020-21 £10,000 was paid to the Oblates in respect of consultancy fees for the LDE UTC project.
The Rev Vanessa Conant is also a trustee and is also the Vicar at St Mary’s Walthamstowe. CTC received funding from the Church of England totalling £14,375 in respect of the work at St Mary’s in 2020/21.
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