Together Income Statement
28Sept 2004 to 28 Feb 2005
£
| £ | |
|---|---|
| Income Charity Shop Sales Donations Expenditure Start-up Expenses Salary Rent General Rates Fire alarm costs Insurance Electricity Telephone Labels,sacks etc Office Exp Coffee machine supplies Vending machine costs Sundries Net Profit |
21,671 6,173 |
| 27,844 3,668 6,892 8,385 560 407 0 302 154 135 63 614 423 153 |
|
| 21,756 6,088 |
Chislehurst Youth for Christ Income Statement Period ending 28th February 2005
Income
| Income | |
|---|---|
| Donations Expenditure Printing and postage Youth Work expenses Net Profit |
10,569 72 63 |
| 135 10,434 |
REGISTERED COMPANY NUMBER: 06362767 REGISTERED CHARITY NUMBER: 1122523
Chislehurst YFC Limited Report of the Trustees and Financial Statements for the Year Ended 28th February 2023
Chislehurst YFC Limited Contents of the Financial Statements for the Year Ended 28th February 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independant Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 10 |
Chislehurst YFC Limited
Report of the Trustees for the Year Ended 28th February 2023
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28th February 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number : 06362767
Registered Charity number : 1122523
Registered Office
103 High Street Chislehurst Kent BR7 5AG
Trustees
Mr Derek Holl - Chairman Mr Andrew Cartwright Mr Andrew Junaid Mrs Angela Short Mr Gary Byfield
Independent Examiner
Mrs Louise Burt BCom(Hons) CA(SA) 7 Daverna Close Chislehurst BR7 5QZ
Principal Bankers
NatWest 143 High Street Bromley BR1 1JH
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The company was incorporated on 6th September 2007 and is governed by its Memorandum and Articles of Association. It constitutes a company limited by guarantee, as defined by the Companies Act 2006. The directors of the company are the trustees of the charity. Day to day responsibility for the running of the Trust is carried out by the Trustees, who met 7 times during the year.
Page 1
Chislehurst YFC Limited Report of the Trustees - continued for the Year Ended 28th February 2023
Recruitment and appointment of new trustees
The trustees are appointed at the Annual General Meeting in accordance with the Articles of Association for a period of three years and retire by rotation. Those selected have a breadth of experience of our work and reflect the make-up of our supporting churches.
Induction and training of new trustees
New trustees are instructed in the ethos of working in a Trust. We also take advantage, as necessary, of training opportunities for trustees offered by YFC.
Risk Management
Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, young people and visitors to the shop and the youth centre. This policy and its implementation are under annual review. Working with Youth for Christ nationally we have a safeguarding policy covering our work in schools and at our youth centre . This is based on the Thirtyone:eight guidance and caters for our various volunteer and staff levels of responsibility and includes a lone working policy to ensure everyone can conduct their work in a safe context. The Trustee responsible for safeguarding is Derek Holl, who has been appointed to advise the CEO and to receive any concerns that may arise amongst staff and volunteers.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the charity, as stated in the Memorandum and Articles of Association, is to give every 11 to 18 year old living in Chislehurst the opportunity to hear and respond to the gospel, and to develop Christian youth work in the area. It is a local ministry in partnership with Youth for Christ (UK). The Trustees have considered the Charity Commission guidance on public benefit and are satisfied that both the aims of CYFC and what it delivers meets the public benefit test.
Firstly, we believe that knowledge of the Christian faith is of immense value to young people in declaring to them that they are loved by God and valued for themselves, whatever their circumstances; secondly our contacts with young people teach social justice and demonstrate the advantage to the community of social awareness and interdependence. We are not aware of any detriment or harm that may arise from our aims or activities. Apart from limiting our work to the Chislehurst area for practical reasons of size and limited resources, there are no restrictions on any young person accessing our activities by their ability to pay or for any other reason. There is no charge to take part in our primary activities. Where a charge has to be made for trips outside the area the cost is never more than the direct expenses incurred and is often heavily subsidised below cost. No young person has ever been prevented from taking part in our activities because of poverty.
Significant activities
Money is raised through the sale of donated goods in a charity shop and through donations and fundraising. The charity shop has paid managers and over 30 dedicated volunteers. Financial donations are received from organisations and individuals. The money raised is used to pay for a Youth Work team whose job is to form relationships with young people through youth clubs (those we run ourselves and those we support), local schools and holiday activities.
The last 12 months has seen the charity recover from the effects of the Covid-19 pandemic and re-establish relationships with schools, running faith clubs and mentoring young people.
Page 2
Report of the Trustees - continued For the Year Ended 28th February 2023
Significant activities cont.
We have also begun to develop new initiatives, including working with the Met police to develop a 'youth violence and knife crime' awareness course, which we are currently piloting. More broadly we have continued to develop our relationships with churches, both in Chislehurst and more widely across the borough. We have established a network for youth workers in Bromley and have hosted several events. Over the year we have strengthened our staff team, which has included appointing on a permanent basis our interim CEO. Our charity shop, 2gether, has made an excellent recovery from the pandemic and due to the hard work of our superb volunteer and shop management team our sales are almost back to pre - Covid levels.
FINANCIAL REVIEW
Reserves policy
The Trustees have examined the charity's requirement for cash reserves in light of the main risks to the organisation. It has established a policy whereby the funds not committed to future expenditure should be 3 months of the budgeted charitable expenditure for the year. This is necessary to meet the working requirements of the charity in the event of a significant drop in funding.
ON BEHALF OF THE BOARD
.......................................... Mr Derek Holl - Chairman
Date: ................................
Page 3
Independant Examiner's Report to the Trustees of Chislehurst YFC Limited
I report on the accounts for the year ended 28th February 2023 set out on pages 5 to 10.
Respective responsibilities of Trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 ( the 2011 Act)) and that an indepedent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act
-
follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
state whether particular matters have come to my attention.
Basis of the 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 explanantions 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 statements below.
Independant examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) 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
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of Section 394 and 395 of the Companies Act 2006 and with the methods and
-
principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Louise Burt BCom(Hons) CA(SA) 7 Daverna Close Chislehurst BR7 5QZ
Date: …19/09/2022...........................
Page 4
Chislehurst YFC Limited Statement of Financial Activities for the Year Ended 28th February 2023
| 2023 Notes £ INCOMING RESOURCES Income from Charity Shop: Sale of donated goods 194,916 Charity Shop costs 2 54,267 140,649 Covid grants received 0 Donations 911 Gift Aid 120 Total Incoming Resources 141,680 RESOURCES EXPENDED Charitable activities 3 128,184 Contribution to Youth for Christ 4 6,000 Total resources expended 134,184 NET INCOMING RESOURCES & MOVEMENT OF FUNDS 7,496 RECONCILLIATION OF FUNDS 392,687 TOTAL FUNDS CARRIED FORWARD At 28th February 2023 400,183 All amounts relate to continuing activities. All recognised gains and losses are included in these financial statements. All income is unrestricted. Total funds brought forwardat 1st March 2022 |
2022 £ 146,713 (42,829) 15,353 1,111 164 |
|---|---|
| 120,512 | |
| 95,442 5,000 |
|
| 100,442 | |
| 20,070 372,617 |
|
| 392,687 | |
The notes form part of these financial statements
Page 5
Chislehurst YFC Limited Balance Sheet at 28th February 2023
| Notes TANGIBLE FIXED ASSETS 103 High Street, Chislehurst CURRENT ASSETS Debtors 6 Cash at bank and in hand 7 CURRENT LIABILITIES 8 NET CURRENT ASSETS LONG TERM LIABILITIES Mortgage 9 Bounce Back Loan 10 NET ASSETS TOTAL FUNDS 11 |
2023 £ 421,341 2,889 64,865 67,754 (14,612) 53,142 79,574 32,886 112,460 362,023 362,023 |
2022 £ 421,341 |
|---|---|---|
| 9,684 65,509 |
||
| 75,193 (21,375) |
||
| 53,818 | ||
| 82,723 41,285 |
||
| 124,008 351,151 |
||
| 351,151 |
The notes form part of these financial statements Page 6
Chislehurst YFC Limited Balance Sheet - continued at 28th February 2023
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibility for
-
(a) ensuring that the charitable company keeps accounting records that comply with Section 386 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Section 396 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small company regime and in accordance with FRS 102 SORP.
The financial statements were approved by the Board of Trustees on ............................... and were signed on its behalf by:
...............................
Mr Derek Holl - Chairman
...............................
Mrs Philippa Robinson - Treasurer
Page 7
Chislehurst YFC Limited
Notes to the Financial Statements for the Year Ended 28th February 2023
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, with items recognised at cost or transaction value unless otherwise stated in the relevant notes, and 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 Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Fixed Assets and depreciation
Purchase of individual items of furniture, fittings and equipment under £1,000 are expensed as incurred. No depreciation has been provided on the freehold property as the Trustees consider that it's value is not less than cost.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from Corporation Tax on its charitable activities.
2. CHARITY SHOP COSTS
| Shop Salaries Rates Repairs and renewals Electricity Equipment Fire alarm Insurance Telephone/broadband Rubbish removal Pricing etc. Sundries Staff/volunteers socials/gifts Tea/coffee etc Cleaning Office expenses |
2023 £ 29,484 1,260 9,361 1,852 - 294 1,319 544 6,186 552 876 1,050 377 1,086 26 54,267 |
2022 £ 26,592 577 4,069 852 219 185 1,249 500 6,206 225 411 485 164 959 136 |
|---|---|---|
| 42,829 |
Page 8
Chislehurst YFC Limited
Notes to the Financial Statements - continued for the Year Ended 28th February 2023
3. CHARITABLE ACTIVITIES
| Salaries Pension costs Insurance Mortgage Interest paid BBL interest paid Youth Work expenses Youth Club expenses Youth Club hall rental Furniture/equipment Repairs and renewals Telephone/broadband Rent and Rates Alarm/CCTV Light and heat Sundries Rubbish removal Cleaning Printing & postage Office expenses |
2023 £ 101,441 4,361 514 3,330 1,007 987 4,113 2,168 2,032 59 711 5,146 - - 1,067 - - 529 719 128,184 |
2022 £ 74,246 4,094 608 4,656 807 763 1,353 - - 685 776 4,760 260 554 572 200 117 149 842 |
|---|---|---|
| 95,442 |
4. CONTRIBUTION TO YOUTH FOR CHRIST
In return for help and advice given to us during the year we make an annual contribution to Youth for Christ UK (YFC). This is used to help with the opening of new YFC centres.
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28th February 2023.
Trustees' Expenses
There were no trustees' expenses paid for the year ended 28th February 2023
Page 9
Chislehurst YFC Limited
Notes to the Financial Statements - continued
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| VAT reclaim Other debtors |
2023 £ 511 2,378 2,889 |
2022 £ 950 8,734 |
|---|---|---|
| 9,684 |
7. CASH AT BANK
The figure for Cash at Bank includes the Bounce Back loan of £46,000 and also reflects the grants received during the year from local and central government.
8. CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
| Mortgage repayments Bounce Back Loan repayments Other creditors |
2023 £ 3,319 4,771 6,522 14,612 |
2022 £ 3,191 4,654 13,530 |
|---|---|---|
| 21,375 |
9. MORTGAGE
A new mortgage was taken out on 29th January 2020 for £138,000 secured on the freehold property at 103 High Street, Chislehurst . It is for a term of 20 years, at a rate of 3.96% fixed for 3 years.
In October 2021 £45,000 from the Bounce Back Loan was used to pay down the mortgage.
The amount outstanding at 28th February 2023 which falls due after 1 year is £79,574.
10. BOUNCE BACK LOAN
The Government Bounce Back Loan was taken out on 15th March 2020 to the value of £46,000. It is for a term of 10 years at a rate of 2.5%, with no interest payable for the first year.
The amount outstanding at 28th February 2023 which falls due after 1 year is £32,886.
11. MOVEMENT IN FUNDS
| 11. | MOVEMENT IN FUNDS | Net m'ment | |||
| At 1/3/22 | in funds | At 28/2/23 | |||
| £ | £ | £ | |||
| General Fund | 354,527 | 7,496 | 362,023 | ||
| Net movement in funds, included in the above, are as follows: | |||||
| Incoming | Resources | Gains & | Movement | ||
| resources | expended | losses | in funds | ||
| £ | £ | £ | £ | ||
| General fund | 141,680 | 134,184 | 0 | 7,496 |
Page 10