**CENTRE FOR THEOLOGY AND COMMUNITY LIMITED** ## **REPORT OF THE DIRECTORS** **FOR THE YEAR ENDED 31 MARCH 2023** 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. ## **Government** 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. The overall pay policy for staff is set by the Trustees, with benchmarking of pay to comparable roles in community organising and church leadership. The charity has no subsidiaries, but is a member of the Citizens UK community organising Page 1 alliance. CTC has no direct volunteers, but supports churches and other organisations in recruiting and training volunteers for their community engagement. _Membership:_ The membership of the charity currently comprises John Deacon (Chair), Vanessa Conant, Cecilia Dewu and Josephine Canny. ## **Achievements and Performance** The Centre's work has continued to flourish and grow. Once again, the Trustees want to pay tribute to the dedication and creativity of the staff team and of the people and congregations with whom CTC works. The Centre’s growing impact is also a sign of the power of its methodology – developing local congregations and their leaders through community organising, rooted in theological reflectiom and prayer. ## **1. Organised Churches** CTC has three main strands of work focused on developing organising in Anglican, Roman Catholic and Pentecostal congregations. Our work in the Church of England centres on a programme on _Harnessing the Potential of Community Organising for Congregational Growth._ The programme has funding from the Church of England!s Strategic Development Fund. It has exceeded its targets for numerical growth in local churches, as well as catalysing increased social action by church members and their neighbours. We are now in conversation with the Church of England about funding for roll-out work in other areas, and how best to disseminate the learning. The Centre!s partnership with the Parish of St George-in-the-East continues to support the church on a parallel journey, and with St George’s, CTC is at the heart of the renewal of the Guild Church of St Katharine Cree in the City of London as a church focused on low-waged workers. The William Seymour Programme has funding to accompany Pentecostal churches on a similar journey, and its work is also showing measurable growth in number, depth and social impact. CTC has begun a three-year strategic partnership with the Oblates of Mary Immaculate Anglo-Irish Province, engaging in congregational development work in Roman Catholic congregations and reflecting on how such work exemplifies the “Synodal Journey” upon which Pope Francis has called the wider Church to embark. ## **2. Organised Leaders** The Wagstaff Course is a year-long evening class in faith and organising, and is now integrated into work with local parishes and congregations. It has continued to grow and develop, and we are now exploring how a “lighter” version of the course might be made accessible to a wider range of leaders. We are also developing training videos to disseminate the work over a much wider geographical area. We continue to offer internships to graduates from outside east London, through our thriving Buxton Leadership Programme, and are continuing to explore how best to develop an Apprenticeship programme for non-graduates Page 2 Our pioneering Chaplaincy at London Design and Engineering University Technical College (DLE UTC) continues to be a much-valued hub for developing young leaders, and we are exploring how it can become a resourcing hub for wider work. ## **3. Organised Neighbourhoods** 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. Last winter, our neighbourhood organising work also involved supporting churches and other groups in developing “Warm Welcome” hubs – and exploring how they could lead on to deeper, long-term relationship-building and action for justice. All of our action is rooted in theological reflection and prayer. We continue to produce blogs, reports and books to equip congregations and their leaders – and our 2021 conference with Pope Francis has been a catalyst for conversations about future research partnerships, and ways to share resources and insights more widely. . ## **Future Plans** The Trustees look forward to the future with confidence, with each of CTC’s areas of work in 2022-3 providing a basis for deeper work in east London in the years ahead – and a greater sharing of learning with partners in other places. In planning all these activities, the Trustees have had regard to the guidance on public benefit issued by the Charity Commission in December 2008. ## **Financial Review** The Charity's accounting period ended on 31 March 2023. Unrestricted free reserves at 31 March were £68k (up from £15k in 2022). The unrestricted surplus of £53k means that we have more than achieved the target of 3 months of free reserves (see reserves note below). ## _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. ## _Investment Policy_ The funds received during the period under review were not sufficient to justify separate investment. ## _Reserves Policy_ Page 3 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. This would indicate a target of £11k based on 2022/23 unrestricted expenditure. Free, unrestricted reserve levels at the end of 2022/23 were at £64k which is well above the target level. The total funds of the Centre were £154k at 31[st] March 2023, comprising £78k of unrestricted and £76k of restricted funds. 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. ## _Risk Statement_ The Centre conducts an annual review of operational risks. Key risks identified, and action taken to mitigate them, are as follows - _Human resources (HR)_ - As the organisation grows, we have instigated new line management and staff support processes, and have outsourced our HR to Peninsula, whose package of support legal indemnity insurance. - _Safeguarding –_ We continue to review our safeguarding policy and its effective implementation regularly, which is particularly important with our increased work with young people and our wide range of partnership working. - _Finance –_ Our financial resilience has been substantially strengthened by inhouse training of more staff in fundraising, and in monitoring and evaluation, and this has led to a substantial increase in both our income and our unrestricted reserve levels. With the appointment of Cecilia Dewu as Treasurer, there is now a Trustee with particular responsibility for financial oversight. - _Operations review –_ We are undertaking a wider review of operations, developing a Senior Management Team under the Director so that responsibilities are shared more widely. ## _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. 1. Select suitable accounting policies and apply them consistently 2. Make judgements and estimates that are reasonable and prudent 3. State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts. - 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. Page 4 This report was approved by the directors on Monday 18 December 2023 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 2023, which comprise the statement of financial activities, balance sheet, related notes and are set out on pages 8 to 15. ## **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; - 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 - 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. - I have completed by examination. I confirm that no matter has come to my attention: - which gives me reasonable cause to believe that in any material respect the requirements - 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, (Fellow of the Chartered Association of Certified Accountants) Impact the Future Ltd, Bennett Verby, 7 St Petersgate, Stickport, Cheshire, SK1 1EB Date: 19[th] December 2023 Page 7 ## **CENTRE FOR THEOLOGY AND COMMUNITY LIMITED** ## **Statement of Financial Activities** ## **FOR THE YEAR ENDED 31 MARCH 2023** ## **Summary Income and Expenditure Account** |Note
**INCOME AND ENDOWMENTS FROM**
Donations, grants and legacies
2
_Incoming resources from charitable activities_
Fee and consultancy income
Total income and endowments
3
**EXPENDITURE ON**
**Charitable activities**
Organised Churches
Organised leaders
Organised Neighbourhoods
Clean For Good
Total expenditure
**Net Movement in Funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|Unrestricted Restricted
Total
Unrestricted
Restricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
39,349
377,700
417,049
12,189
373,383
385,572
105,001
0
105,001
102,740
0
102,740| |---|---| ||144,350
377,700
522,050
114,929
373,383
488,312
33,826
237,164
270,990
20,305
220,490
240,795
55,820
41,352
97,171
47,017
28,999
76,016
1,619
73,119
74,738
(757)
123,342
122,585
0
0
0
45,611
0
45,611| ||91,265
351,634
442,899
112,177
372,830
485,007| ||53,085
26,066
79,151
2,752
553
3,305
25,257
49,444
74,701
22,505
48,891
71,396| ||78,342
75,510
153,852
25,257
49,444
74,701| Movements on reserves and all recognised gains and losses are shown above. The notes on page 11-15 form part of these accounts. Page 8 ## **CENTRE FOR THEOLOGY AND COMMUNITY LIMITED** ## **BALANCE SHEET** ## **FOR THE YEAR ENDED 31 MARCH 2023** |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
2023
2022
Funds
Funds
£
£
£
£
10,000
0
10,000
10,000
237
0
237
325| |---|---| ||10,237
0
10,237
10,325
38,775
44,728
83,503
42,021
32,771
43,781
76,552
77,354| ||71,546
88,509
160,055
119,375| ||3,440
13,000
16,439
54,999| ||68,107
75,509
143,616
64,377| ||| ||78,342
75,510
153,852
74,701| ||78,342
78,342
25,257
75,510
75,510
49,444| ||78,342
75,510
153,852
74,701| _For the period ended 31 March 2023, 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 by: 18th December 2023 **----- Start of picture text -----**
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--------------------------------------John Deacon Company number: 05848143 Charity number: 1121648 Page 9 ## **Centre for Theology and Community Limited** ## **Cash flow statement** |**For the year to 31st March 2023**
**Net income for the reporting period (as per statement of financial activities)**
**Adjustments for:**
Depreciation charges
Write off of assets
(Increase)/decrease in value of debtors
Increase/(decrease) in value of creditors
Net cash from operating activities
**Cash flows from investing activities**
Purchase of fixed assets
**Increase/(decrease) in cash in year**
**Reconciliation of net debt**
Cash and cash equivalents-
Current accounts
Deposit accounts
Borrowings
Debt due within one year
Total|**2023**
£
200
0
(41,482)
(38,559)|**2023**
**2022**
**2022**
£
£
£
79,151
3,305
352
0
(20,837)
26,863
(79,841)
6,378
(112)
(488)
(802)
9,195
opening
cash flow
closing
01/04/2022
2022/23
31/03/2023
76,552
802
77,354
0
0
0|**2022**
£
352
0
(20,837)
26,863|**2022**
£
3,305
6,378
(488)| |---|---|---|---|---| |||||| |||||9,195| |||76,552
802
77,354
0
0
0||| |||76,552
802
77,354||| Page 10 ## **CENTRE FOR THEOLOGY AND COMMUNITY LIMITED** ## **Notes to the Accounts FOR THE YEAR ENDED 31 MARCH 2023** ## **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 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. ## 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. ## Other income and expenditure: Investment income is taken into account when receivable. ## 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. ## 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 ## Pension costs: The company operates a defined contribution scheme for certain employees. Pension premiums are charged as they are paid. ## Taxation The company is a registered charity and is exempt from taxation under the Income & Corporation Taxes Acts. ## 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. ## 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. ## 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. |**Voluntary income**
Grants
General donations
**Income by activity 2022-23**
Grants
Donations
Fees and sales
Total
**Income by activity 2021-22**
Grants
Donations
Fees and sales
Total|Unrestricted
Funds
£
34,692
4,657|Restricted
Total
Unrestricted
Restricted
Total
Funds
2023
Funds
Funds
2022
£
£
£
£
£
375,554
410,246
5,000
371,153
376,153
2,146
6,805
7,189
2,230
9,419| |---|---|---| ||39,349|377,700
417,051
12,189
373,383
385,572| ||General
0
7,189
1,000|General
Churches
Leaders
Neighbourhoods
Total
0
253,874
70,807
85,565
410,246
4,657
0
2,146
0
6,804
0
44,951
53,550
6,500
105,001| |||4,657
298,825
126,504
92,065
522,051| |||Churches
Leaders
Neighbourhoods Clean For Good
Total
227,095
30,058
119,000
0
376,153
0
2,230
0
0
9,418
15,630
44,417
0
41,693
102,740| ||8,189|242,725
76,704
119,000
41,693
488,311| Page 11 ## **EXPENDITURE BY ACTIVITY 2022-23** |Organised Churches
Organised leaders
Organised Neighbourhoods
Allocation of staff costs including training,expenses, etc
Allocation of central admin costs
Totals|Direct costs Staff costs
Central
admin costs
Total costs
2022-23
2022-23
2022-23
2022-23
£
£
£
£
13,749
235,216
22,025
270,990
3,736
85,436
8,000
97,171
17,262
52,555
4,921
74,738| |---|---| ||34,747
373,207
34,946
442,899
373,207
(373,207)
0
34,946
(34,946)
0| ||442,899
0
0
442,899| ## **EXPENDITURE BY ACTIVITY 2021-22** |Organised Churches
Organised leaders
Organised Neighbourhoods
Clean For Good
Allocation of staff costs
Allocation of central admin costs
Totals
**Analysis of costs**
Direct Charitable Costs
Staff & Management costs
Consultants
Office costs
Software & IT
Printing, postage and stationery
Projects - General Expenses
Travel and subsistence
Training/Development
Event Costs
Advertising
Bad Debt
Grant Payment
See below
Support Costs
Rent, rates and utilities
Office costs
Software & IT
Printing, postage and stationery
Repairs and maintenance
Overheads
Event Costs
Staff & Management costs
Insurance
Legal Costs
General expenses
Travel and subsistence
Accountancy and payroll
See note
Independent Examination
Training/Development
**Combined charitable activity cost**|Unrestricted
Restricted
Funds
Funds
£
£
79,009
294,198
0
17,138
1
0
0
3,317
290
297
20
6,802
443
2,362
0
4,080
0
0
0
0
0
0
0
0|Direct costs Staff costs
Central
admin costs
Total costs
2021-22
2021-22
2021-22
2021-22
£
£
£
£
8,909
212,138
19,748
240,795
12,095
58,477
5,444
76,016
25,294
89,006
8,286
122,585
0
41,727
3,884
45,611| |---|---|---| |||46,298
401,347
37,362
485,007
401,347
(401,347)
0
37,362
(37,362)
0| |||485,007
0
0
485,007| |||Total
Unrestricted
Restricted
Total
2023
Funds
Funds
2022
£
£
£
£
373,207
100,447
300,901
401,347
17,138
0
18,550
18,550
1
0
247
247
3,317
29
2,074
2,102
586
0
649
649
6,822
144
3,409
3,553
2,804
279
2,527
2,806
4,080
3,353
5,822
9,175
0
0
1,690
1,690
0
0
426
426
0
100
0
100
0
7,000
0
7,000
0| ||79,762
328,193|407,955
111,351
336,294
447,645| ||Unrestricted
Restricted
Funds
Funds
£
£
10,000
0
0
0
1,887
0
0
0
0
0
(23,442)
23,442
77
0
(2,546)
0
1,957
0
4,874
0
1,635
0
622
0
14,382
0
1,800
0
257
0|Total
Unrestricted
Restricted
Total
2023
Funds
Funds
2022
£
£
£
£
10,000
12,000
0
12,000
0
37
0
37
1,887
5,108
0
5,108
0
0
0
0
0
0
0
0
0
(36,536)
36,536
0
77
405
0
405
(2,546)
(3,566)
0
(3,566)
1,957
1,744
0
1,744
4,874
1,957
0
1,957
1,635
1,944
0
1,944
622
439
0
439
14,382
14,988
0
14,988
1,800
1,800
0
1,800
257
506
0
506| ||11,504
23,442|34,946
826
36,536
37,362| ||91,267
351,634|442,901
112,177
372,830
485,007| Note: The above figures include a charge of £1,800 for the preparation and independent examination of the annual accounts Page 12 |Grants
Community grants|Institutions
Individuals
2023
Institutions
Individuals
2022
£
£
£
£
£
£
-
-
-
7,000
-
7,000| |---|---| ||-
-
-
7,000
-
7,000| |The main features of the grants made were:
**& Trustees**
Gross wages, salaries & benefits in kind
Employer's National Insurance costs (net of employers allowance)
Pension costs
Total staff costs
Oblates of the Assumption - Sister Therese Boraturamye's services, Chaplaincy support|2023
2022
-
7,000| |---|---| ||-
7,000| ||2023
2022
£
£
307,072
316,223
20,997
21,465
11,333
12,842| ||339,402
350,531| ## **Staff & Trustees** The charity has 9.1 full time equivalent employed staff (2022: 10.0). 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 £55,727 (2022:£55,471). No remuneration was paid to any trustee during the year nor to any person connected to them. ## **Tangible Fixed Assets** |Cost
At 1 April 2022
Additions
At 31 March 2023
Accumulated Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 1 April 2022|Program related
Investments
Computer
equipment
Total
& furniture
2023
£
£
10,000
3,429
13,429
-
112
112| |---|---| ||10,000
3,541
13,541| ||-
3,104
3,104
-
200
200| ||-
3,304
3,304| ||10,000
237
10,237
10,000
325
10,325| 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. |**Debtors and Prepayments**
Trade debtors
Accrued income|2023
2021
£
£
22,125
21,184
61,378
0| |---|---| ||83,503
21,184| 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. |**Cash at Bank and in Hand**
Bank operating accounts
**Creditors: liabilities falling due within one year**
Trade creditors
Taxation and social security
Accruals
Deferred Income (Note 9)
Other creditors|2023
2022
£
£
76,552
77,354| |---|---| ||76,552
77,354| ||361
11,983
0
463
16,078
12,246
0
3,000
0
445| ||16,439
28,136| Page 13 **Deferred Income** Opening Income released Income Closing balance in year deferred balance £ £ £ £ Donation and grant income deferred 3,000 (3,000) 0 3,000 (3,000) 0 0 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. ## **Restricted Funds** The restricted funds represent amounts received for specific purposes and the movements in the year are as follows: ||Closing|Closing|Incoming|Outgoing|Closing|Closing|Incoming|Outgoing|Closing| |---|---|---|---|---|---|---|---|---|---| ||balance||resources|resources|balance||resources|resources|balance| ||2021||2022|2022|2022||2023|2023|2023| ||£||£|£|£||£|£|£| |Bishop of Durham||0|2,500|(2,500)||0|2,500|(2,500)|0| |Buxton 180||0|2,042|(2,042)||0|1,700|(1,700)|0| |Camellia Trust||4,909|10,000|(14,909)||0|12,500|(6,500)|6,000| |Church of England- SDF||3,192|78,081|(81,273)||(0)|78,182|(73,995)|4,186| |Church Urban Fund (Near Neighbours)|15,668||49,000|(64,195)||474|0|(474)|0| |Citizens UK||0|5,000|(5,000)||0|0|0|0| |Diocese of Chelmsford||0|6,000|(6,000)||0|6,615|(6,615)|0| |Hinchley Charitable Trust||0|7,500|(7,500)||0|7,500|(7,500)|0| |Individual donations||0|188|(188)||0|446|(446)|0| |James Knott Trust||0|8,000|(5,635)||2,365|2,500|(4,865)|0| |Lillian Nash||0|6,000|(6,000)||0|6,000|(3,717)|2,283| |Lombard Parish|24,891||0|(24,891)||0|0|0|0| |London Community Land Trust||0|5,000|(3,957)||1,043|0|(1,043)|0| |London Diocesan Fund||0|6,300|(6,300)||0|6,615|(6,615)|0| |Near Neighbours (CUF)||0|0|0||0|27,565|(27,565)|0| |Oblate of Mary Immaculate- Anglo-Irish||0|5,000|(4,777)||223|30,000|(13,700)|16,523| |Sanctuary Website||0|0|0||0|3,000|(3,000)|0| |Sir Halley Stewart||0|9,897|(9,897)||0|19,793|(19,793)|0| |St George in the East Youth organising||0|5,000|(5,000)||0|0|0|0| |St George in the East Buxton Leadership||0|9,375|(7,010)||2,365|0|(2,365)|0| |St George in the East- resource churches||0|16,000|(16,000)||0|0|0|0| |St George in the East- Wagstaff Evening Sc||0|0|0||0|0|0|0| |St Katherine's Cree||0|92,500|(59,157)||33,343|142,784|(130,946)|45,181| |Trust For London||0|50,000|(40,369)||9,631|30,000|(38,295)|1,336| |Total|48,660||373,383|(372,600)||49,444|377,700|(351,633)|75,510| The Bishop of Durham grant is towards the co-ordination of the Buxton programme an The Buxton 180 fund relates to donations in support of interns and staff working on the Buxton Leadership Programme and those who supervise them. The Camellia Trust fund is supporting the advancement of the affordable housing campaign in Shadwell. The grants from the Church of England are towards harnessing the potential of community organising for congregational growth 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. The Citizens UK grant went towards neighbourhood organising The Diocese of Chelmsford gave a grant towards the running of the multi-faith chaplaincy at London Design and Engineering University Technical College The Hinchley Charitable Trust gave towards the development of community engagement in pentecostal churches and the Buxton leadership programme The James Knott Trust grant is for community organising training for churches engaging with food poverty The Lilian Nash Will Fund is supporting theological education The London Community Land Trust Grant went towards the neighbourhood organising project The grant from the Oblate of St Mary Immaculate was given towards CTC’s work with Roman Catholic churches and migrant workers The grant from the Sir Halley Stewart Trust went toward the Pentecostal learning and Buxton leadership projects The grants from St George in the East are towards mentoring on church growth and action for affordable housing, Buxton Leadership scheme and the youth organising programmes The grant from St Katherine's Cree went towards the Eastminster Project The Trust for London grant went towards the cost of a community organising and co-design project to develop two adjacent pieces of land for permanent genuinely affordable homes, new spaces for the community, and potentially temporary accommodation for homeless people. ## **Analysis of Net Assets between Funds** |Fixed Assets
Current assets
Current liabilities
Net Assets|Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
2023
2023
2023
2022
2022
2022
10,237
0
10,237
10,325
0
10,325
71,545
88,510
160,055
39,589
79,787
119,375
(3,440)
(13,000)
(16,440)
(24,656)
(30,343)
(54,999)| |---|---| ||78,342
75,510
153,852
25,258
49,444
74,701| Page 14 **Events since the year end** None ## **Members** Each member of the company commits to contribute if the charity is wound up an amount of £1. ## **Related Party Transactions** The Rev Vanessa Conant is a trustee and is also the Vicar at St Mary’s Walthamstowe. St Mary's received funding from CTC in 2022/23 of £12,500 (21/22 £12,500) to help cover the staff costs for the project 'Harnessing the Power of Organising for Church Growth' Page 15