## **Trustees Annual Report** The Charity is a community-based church. It meets every Sunday but is also open during the week to serve the community. This includes a community coffee shop that includes a children’s playroom, soft play, baby and toddler classes and a Friendship group for lonely people. The building is also used by the scouts and an archery class. There is also a gym, music school and counselling service on site. There is a large amount of community use of the building during these times. The funds that are generated through rental are being reinvested into the building and its renovation. We are currently going through the process with Kingdom Bank to get a mortgage on the building and thus own it in the Charity’s name. The process is ongoing but is developing well. We have set ourselves a target to ensure we have £17,000 in reserve to ensure financial viability and stability in the years ahead. Our income has increased in the post-covid period, and we are focused on ensuring that the Church is financially robust enough to meet any future financial turbulence brought about by external factors. We continue to strive to improve our financial processes as our budget increases. We have reached the financial milestone of now being able to support local start up community projects with free room hire. As we move forward, we aim to increase this facility. Faith Christian Centre UK Report of the twstees Financial Statements for the year ended 28 February 2022 Faith Chrlstian Centre UK Financial Statements Year ended 28th February 2022 Contents Trustees, Annual Report Pagesl-2 Independent Examiners, Report Page 3 Receipts and Payments Account Page 4 Notes to Accounts Page 5 Faith Christian Centre UK Trustees Annual Report Year ended 28th February 2022 Registered Charity number 1123217 Principal Address Celebration Trebor Buildin& Wern Trading Estate, Rogerstone. Newport Charity Trustees Mr Michael Taylor, Mr Patrick Sparrow, Mr Barry Roberts, Mr Paul Van Essen Bankers HSBC. Bridge Street, Newport. Wales NP20 4UT Solicitors Lawson, Lewis &Co.. 37 Brassey Avenue, Eastbourne. East Sussex Governing Document 13th January 2(M)8 This gives the Trustees powers to exercise their discretion in the discharge of their responsibilitie5 towards the charity and imposes no special restrictions upon them. Objectives To advance the Christian faith, to relieve sickness and financial hardship and to promote good health. Public Benefit The trustees are always mindful of the guidance published by the Charity commission on the public benefit. Activities and Achievements The charity is a community-based church. It meets every Sunday but is also open during the week to serve the community. This includes a community coffee shop that includes a children'5 playroom. soft play, baby and toddler classes, and friendship group for lonely people. The building is also used by the scouts and an archery class. There is also a gym. music school and counselling service on site. There is a large amount of community use of the building during these times. The funds that are generated through rental are being reinvested into the building and its renovation. We are currently going through the process with Kingdom Bank to get a mortgage on the building and thus own it in the Charitrfs name. The process is ongoing but 15 developing well. We have set ourselves a target to ensure we have £17,000 in reserve to ensure financial viability and stability in the year5 ahead. Our income has increased I the post-covid period, and we are focused on ensuring that the church is financially robust Faith Christian Centre UK Trustees Annual Report Year ended 28th February 2022 enough to meet any future financial turbulence brought about by external factors. We continue to strive to improve our financial processes as out budget increases. We have reached the financial milestone of now being able to support local start up community projects with free room hire. As we move forward, we aim to increase this facility. Recruitment and Training The declaration of trust states there must be a minimum of three of new trustees trustees, but there 15 no maximum number prescribed. New trustees are appointed by a resolution of the existing trustees as a body. Appropriate training in the duties and responsibilities of a trustee of a charitable organisation will be provided to any new trustee who may be appointed. Reserve5 policy The reserved fund represents the restrirted and unrestricted funds from past operating results. The Trustees monitor the level of reserves and are satisfied the current level of reserves are sufficient to cover costs, the aim 15 to get three months of running costs as a reserve by 2022. Risk management The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate any exposure to the major risks. The Trustees have approved the above report. M.A. TAYLOR Michael Taylor (Chair of Trustees and Senior Pastor) 07/02/23 Independent Examiners, Report to the Trustees of Faith Christian Centre UK We report on the accounts of the charity {number 11232171 for the year ended 28 February 2022 set out on pages 4 and 5. th Respective responsibilities of Trustees and Examiners The charity's trustees are responsible for the preparation of the accounts. The charitws trustees consider that an audtt is not required for this year under section 144121 of the Charities Art 2011 (the 2011 Act) and that an independent examination is needed. It is our responsibility to= Examine the accounts under section 145 of the 2011 Act- Follow the procedures laid down in the general Directions given by the Chartty Commission under section 14515llbl of the 2011 Act,. and State whether particular matter5 have come to our attention. Basis of independent examinerfs statement Our 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 compari50n 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 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 examiners, statement In connection with our examination. no matter has come to our attention- which gives reasonable cause to believe that, in any material respert. The requirements- To keep accounting records in accordance with section 130 of the 2011 Act,- and To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or to which, in our opinion, attention should be drawn in orderto enable a proper understanding of the accounts to be reached. Helen Petherbridge TIA HAP Accountancy Ltd Chartered Certified Accountants 15 Church Street. Ilchester, BA22 8LN Date Falth Christian Centre UK Receipts and Payments Account Year ended 28 February Z022 Res- Unres- trfcted Funds 2022 Total Fut)ds 2021 Total Funds tricted Funds Notes Income The Loadin8 Bay Kickstart rithes & offerings Income tax recovered Building Fund gifts Room Hire Mandy Imlay fund Grants JRS Furlough scherne Grants Interest Other Total Incoming Resources 12.918 16.186 38,464 7.323 12.918 16.186 38,464 7.348 3.550 37,996 1,086 loo 5.760 5.735 41.106 8,698 820 30,287 25 3.550 100 37.896 i(x) 5.120 23.5CK) 8,701 617 118,624 1.517 124,926 6.302 118,853 Expenditure Minister5 5UPPOrt Salary Gifts Premise5 rent & rates Hospitality. function & event costs Light. heat & water Training & conference5 Repair costs Travelling expenses Van expenses Children's Church & yOLrth expenses Kick5tart costs The Loading Bay c05ts Membership & subscriptions Office and promotion costs Insurances Professional fees 23,108 7,307 300 19.370 676 14.041 23.108 7.307 300 19.370 676 14,041 888 2,9Z5 938 54 49 10.866 14.0 1.431 11,740 1.378 i.oii 23.480 5,608 690 15.075 640 9,914 1.314 1.611 938 1,997 587 161 49 10,866 14.000 1.431 11,740 1.378 i.oii 11,160 532 10.691 1,585 1.497 Total Resources Expended 1.314 108.768 110.082 84,929 Net Incomelloutgoingl Resources 4.988 9.8S6 14.844 33.925 Transfers between funds Total fund5 28 February 2021 Total fund5 29 February 2022 48.052 53.040 29.9ZI 39,777 77.973 92.817 44,048 77.973 Statement of Assets and Liabilities atthe end of 28 February 2022 Represented by: Tangible fixed Assets Cash at bank- current account Cash at bank- building account Cash at bank- Storfa (loading bay accountl Cash at bank- Pleo Account 46.654 1.634 4.752 19.940 15.155 66,594 16,789 4,752 4,471 211 92.817 57.330 12,705 7,511 428 4.471 211 39,777 53,040 77,973 Faith Christian Centre UK Notes th Year ended 28 February 2022 2022 2021 l. Funds Restri¢ted-8uilding fund 53,040 48.052 General 39.777 29,921 Totsl Funds 91￿17 77.973 Improvements to Buildirb riKtures & rittinBs Motor Vehide CoMp￿ter Equipment Totsl 2. Tangible Fixed Assets Cost At I" March 2021 Additions Disposals 37,169 8.340 27,143 3.750 2,449 924 70.511 9,264 At 28, February 2022 45.509 27.143 3.750 3,373 79.775 Depreaation At I" March 2021 Charge for the year Elirninated on disposè15 610 1.571 13,181 At 28" February 2022 8.610 1.571 13.181 NBV At 28 February 2022 At 1st March 2021 45.509 14.838 18.533 15.984 750 1.802 878 66,594 32,450 750 Depreciation is not required under receipts and payments concept. ILi.li¥strdi- HAP Accountancy LtL 019)) cgO4344 2 February 2023 Faith Chrlstian Centre UK Celebration Tremor Building Wern Trading Estate Rogerslone Newport Dear Trustees 11 is our firm's policy and good practice to advise on whether improvements could be made within the charities financial operations. The following recommendations have been made... 1) Wages, as per payslip should be paid, there have been 8 number of overpayrnenlslunderpaymenls made this year. which has resulting in church funds being used unnecessarily. The payroll accountants produce the payslips and therefore we recommended the reports are looked al before payments made. 21 The following bank balance need lo be addressed on xero, the balance per the xero do not agree to the actual bank statements for Ihg year ended 2810212022 . . this needs to be reviewed and errors corrected during 2022123 year. a. The general account has a balance of £4679.83 on xero, per bartk staloment £3829.81. difference of £800.02. b. The loading bay account has a balance of £4471.34 on xero, per the bank Statement £4441.34, drfferenee of £30.00. c. The building fund account has a balance of £4751.76 on xero, per the bank Statement £4821.76, drfference of £70.00. d. The Pleo account was not checked $0 please ensure the balance per xero is correct lo the actual statement. 31 The following accounts on xero are set up as bank accoun15 and have historical balances theses need lo be reviewed and adjusted or correcled if they have the ineorrecl balance. a. U Accwnl-mikes expenses £138.02 b. Pockrt Card £351.07 c. Petty Cash £120.CM) 41 As you are aware the VAT account in xero was used. please ensure this is not used as you are not VAT registered. HAP Accountancy Ltd registered in England and Wales No.. 11383179 S) Please review the necessary guidance with regards to VAT as your income as a whole is over the VAT threshold. however I would expect the majority of your income will be exempt from VAT however you do have various streams of income so might be worth checking out the VAT guidance. Yours faithfully KLtsF4R Helen Pelherbridge TIA HAP Accountancy Ltd