COMPANY REGISTRATION NUMBER: 05992717 CHARITY REGISTRATION NUMBER: 1131346
Rosslyn Hill Unitarian Chapel Company Limited by Guarantee Unaudited Financial Statements 30 September 2023
A I GROMAN FCA
Chartered Accountants Groman & Company 5 Violet Hill St. John's Wood London NW8 9EB
Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 September 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 September 2023.
Reference and administrative details
Registered charity name Rosslyn Hill Unitarian Chapel Charity registration number 1131346 Company registration number 05992717 Principal office and registered 3 Pilgrims Place office London NW3 1NG
The trustees
Mr AC Appleyard Ms EE Harrison Mr R Mason Mr E Wagner Mr JH Bell (Resigned) Mr MP Macy (Resigned) Mr JL Evans Ms DES Frankel Ms AK Bybee Independent examiner A.I. Groman FCA Groman & Company 5 Violet Hill St. John's Wood London NW8 9EB
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2023
Structure, governance and management
Governing Document
Rosslyn Hill Unitarian Chapel (the charity) was incorporated as a company Limited by Guarantee on 8th November 2006 (Company Registration Number: 05992717) and is governed by its Memorandum of Association and its Articles of Association. The charity was registered by the Charity Commission as a charity in England on 25 August 2009.
The Rosslyn Hill Unitarian Chapel had been constituted under a declaration of trust of the "1862 Indenture" as varied by the Constitution of 1996. The charity is a Member of The British and Foreign Unitarian Association (Incorporated); a charity registered in England: 255205 and The General Assembly of Unitarian and Free Christian Churches; a charity registered in England 250788.
The trustees
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Mr AC Appleyard Ms EE Harrison Mr R Mason Mr E Wagner Mr JH Bell (Resigned) Mr MP Macy (Resigned) Mr JL Evans Ms DES Frankel Ms AK Bybee
Appointment, induction & training of Trustees
All members are circulated prior to the AGM advising them of the retiring trustees and requesting nominations for new trustees at the AGM. When considering co-opting trustees, the Board has regard to the requirement for any specialist skills needed. New trustees are encouraged to undergo orientation to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).The company's current policy concerning the payment of trade creditors is to: - settle the terms of payment with suppliers when agreeing the terms of each transaction; - ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and - pay in accordance with the company's contractual and other legal obligations.
Organisation
The charity is organised so that the trustees meet regularly to manage its affairs. There are two part time administrative officers one who manages the day-to-day activities, the other finance activities, one full-time minister Rev Kate Dean, and a PT caretaker was employed for part of the year. We also have three self-employed professionals, one for salary/finance admin, another the director of music, and lastly choir master. The cleaning function is now sub contracted to a cleaning company (due to the pandemic) and our previous cleaner Tupe'd over.
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2023
Investment Powers
The Memorandum of Association authorises the directors to make and hold investments using the general funds of the charity.
Statement of trustees' responsibilities
The trustees, who are also the directors of Rosslyn Hill Unitarian Chapel for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;- observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees' report was approved by the Board of Trustees.
Objectives and activities
The principal activity of the charity is to unite for worship, and to foster liberal religious living through study, service and fellowship.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Public Benefit
We have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing our aims and objectives and in planning our future services. In particular the board of trustees consider how our planned services will contribute to the aims and objectives they have set.
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2023
Achievements and performance
In 2013, the Chapel sold the Willoughby Road site and invested £800,000 of the proceeds into M&G's Charifund. The fund has performed satisfactorily with a value of £1,381,278 at the year end.As custodians of a site including a Grade II listed Chapel and Cottages we intend to use these monies to maintain and improve the fabric and contents of the property as well as support the activities of the congregation and the local community both now and in the future.
In line with our Unitarian principles of open-minded spiritual enquiry, commitment to inclusive community building and active social outreach, the Chapel continued to offer worship services and community events throughout the year.
The Minister developed a number of initiatives to serve the congregation and local community including afternoon spirituality workshops and maintaining a monthly Death Cafe to address end of life issues. The Chapel continued its partnership with C4WS to run a temporary homeless shelter in the Hall and developed plans to increase its community provision to include a weekly toddler group and monthly community lunch, which was launched in September 2023.
Financial review
The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016)
The Statement of Financial Activities shows income for the year of £370,969 and endowment income of £1,633 ,an increase of £ 70,651 on the previous year .Total expenditure, including £16,627 depreciation, was £402,968 of which £176,661 was on major chapel works ,namely the roof replacement and works to the chantry. Normal activities were therefore £209,680.The capital works meant there was a net operating deficit of £33,632 . Compared with a deficit of £224,754 the previous year. This deficit was financed from the endowment fund. The total charity funds at year end amounted to £1,636,930 up from £1,537.399 in 2022 mainly due to improved investment performance in the M&G fund.
The present level of funding is adequate to continue to support the running of the charity for the year ahead. The bulk of the funds will be replenished three times (on a termly basis) by our licensees who use our premises for their schools. Other sources of income include children holiday camps, events, car parking, Chapel membership, weddings, memorial services, monthly giving and donations.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2023
Risk management
The Board is tasked with regularly reviewing the major risks which the charity faces and undergoing an annual review of key financial systems, to ensure that sufficient resources can be provided for our operating budget and in the event of adverse conditions. The Board believes that maintaining reserves at near current levels, combined with an annual review of the controls over key financial systems, should provide sufficient resources in most circumstances. The Board has also examined other operational and business risks faced by the charity and confirms that the charity has established systems that should suffice to mitigate the most significant risks.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Ms AK Bybee Trustee
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Rosslyn Hill Unitarian Chapel
Year ended 30 September 2023
I report to the trustees on my examination of the financial statements of Rosslyn Hill Unitarian Chapel ('the charity') for the year ended 30 September 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’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 am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A.I. Groman FCA Independent Examiner
Groman & Company 5 Violet Hill St. John's Wood London NW8 9EB
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 September 2023
| 2023 | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | ||||
| funds | funds | funds | Total funds | Total funds | ||
| Note | £ |
£ | £ | £ | £ | |
| Income and endowments | ||||||
| Donations and legacies | 5 | 32,964 |
– | – | 32,964 | 27,677 |
| Charitable activities | 6 | 333,724 |
– | – | 333,724 | 272,271 |
| Investment income | 7 | 2,648 |
– | – | 2,648 | 370 |
| Other income | 8 | – |
– | 1,633 | 1,633 | – |
| -------------------------------- | -------------- | ----------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 369,336 | – | 1,633 | 370,969 | 300,318 | |
| ================================ | ============== | ======================= | ================================ | ================================ | ||
| Expenditure | ||||||
| Expenditure on | ||||||
| charitable activities | 9,10 | 402,968 |
– | – | 402,968 | 525,072 |
| -------------------------------- | -------------- | ----------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 402,968 | – | – | 402,968 | 525,072 | |
| ================================ | ============== | ======================= | ================================ | ================================ | ||
| -------------------------------- | -------------- | ----------------------- | -------------------------------- | -------------------------------- | ||
| Net expenditure | (33,632) | – | 1,633 | (31,999) | (224,754) | |
| ================================ | ============== | ======================= | ================================ | ================================ | ||
| Transfers between funds | (740,284) | (4,117) | 744,401 |
– | – | |
| Other recognised gains | and | losses | ||||
| Other gains/(losses) user | ||||||
| defined 1 | – | – | 131,590 | 131,590 | (87,560) | |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net movement in funds | (773,916) | (4,117) | 877,624 |
99,591 | (312,314) | |
| Reconciliation of funds | ||||||
| Total funds brought forward | 1,029,568 | 4,117 | 503,654 | 1,537,339 | 1,849,653 | |
| ----------------------------------------- | ----------------------- | ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 255,652 | – | 1,381,278 | 1,636,930 | 1,537,339 | |
| ========================================= | ======================= | ========================================= | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 18 form part of these financial statements.
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Statement of Financial Position
30 September 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 14 | 117,694 | 130,353 |
| Investments | 15 | 1,381,278 | 1,348,055 |
| ----------------------------------------- | ----------------------------------------- | ||
| 1,498,972 | 1,478,408 | ||
| Current assets | |||
| Cash at bank and in hand | 227,946 | 150,059 | |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 227,946 | 150,059 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total assets less current liabilities | 1,726,918 | 1,628,467 | |
| Creditors: amounts falling due after more than one year | 16 | 89,988 | 91,128 |
| ----------------------------------------- | ----------------------------------------- | ||
| Net assets | 1,636,930 | 1,537,339 | |
| ========================================= | ========================================= | ||
| Funds of the charity | |||
| Endowment funds | 1,381,278 | 503,654 | |
| Restricted funds | – | 4,117 | |
| Unrestricted funds | 255,652 | 1,029,568 | |
| ----------------------------------------- | ----------------------------------------- | ||
| Total charity funds | 19 | 1,636,930 | 1,537,339 |
| ========================================= | ========================================= |
For the year ending 30 September 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Ms AK Bybee Trustee
The statement of financial position continues on the following page.
The notes on pages 9 to 18 form part of these financial statements.
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 3 Pilgrims Place, London, NW3 1NG.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
3. Accounting policies (continued)
Tangible assets (continued)
recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvements to Buildings - 5% straight line Piano - 25% straight line Furniture and Equipment - 25% straight line
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
3. Accounting policies (continued)
Financial Instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
4. Limited by guarantee
Rosslyn Hill Unitarian Chapel is incorporated as a Company limited by guarantee without share capital, as from 8th November 2006.
Members guarantee to contribute an amount not exceeding £1 each, to the assets of the Charitable Company in the event of winding up.
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Sundry donations | 15,305 | 15,305 | 6,820 | 6,820 |
| Subscriptions | ||||
| Membership subscriptions | 17,659 | 17,659 | 20,857 | 20,857 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 32,964 | 32,964 | 27,677 | 27,677 | |
| ============================ | ============================ | ============================ | ============================ |
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Ancillary trades | 1,715 | 1,715 | 15,028 | 15,028 |
| Rentals | 29,761 | 29,761 | 23,860 | 23,860 |
| Other income from charitable activities | – |
– | 80 | 80 |
| Dance Academy | 10,136 | 10,136 | 10,136 | 10,136 |
| Academy School | 229,903 | 229,903 | 173,508 | 173,508 |
| Car parking | 41,505 | 41,505 | 39,525 | 39,525 |
| Concerts and other income | 14,500 | 14,500 | 10,134 | 10,134 |
| Legal compensation | 6,204 | 6,204 | – | – |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 333,724 | 333,724 | 272,271 | 272,271 | |
| ================================ | ================================ | ================================ | ================================ |
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
7. Investment income
| Unrestricted | Endowment | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Interest receivable | 2,648 | – | 2,648 | |
| ======================= | ============== | ======================= | ||
| Unrestricted | Endowment | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Interest receivable | – | 370 | 370 | |
| ============== | ============== | ============== | ||
| Other income | ||||
| Endowment | Total Funds | Endowment | Total Funds | |
| Funds | 2023 |
Funds | 2022 | |
| £ | £ | £ | £ | |
| Gain on disposal of programme | ||||
| related investments | 1,633 | 1,633 |
– | – |
| ======================= | ======================= | ============== | ============== |
8. Other income
9. Expenditure on charitable activities by fund type
| Unrestricted | Endowment | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Principal activity | 398,768 | – | 398,768 |
| Support costs | 4,200 | – | 4,200 |
| -------------------------------- | -------------- | -------------------------------- | |
| 402,968 | – | 402,968 | |
| ================================ | ============== | ================================ | |
| Unrestricted | Endowment | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Principal activity | 238,765 | 282,107 | 520,872 |
| Support costs | 4,200 | – | 4,200 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 242,965 | 282,107 | 525,072 | |
| ================================ | ================================ | ================================ |
10. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Principal activity | 398,768 | 4,200 | 402,968 | 525,072 |
| ================================ | ======================= | ================================ | ================================ |
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Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
11. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 65,817 | 62,221 |
| Social security costs | 5,508 | 5,273 |
| Employer contributions to pension plans | 5,374 | 5,529 |
| ---------------------------- | ---------------------------- | |
| 76,699 | 73,023 | |
| ============================ | ============================ |
The average head count of employees during the year was 3 (2022: 3).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. Trustee remuneration and expenses
SORP 2015 requires one of the following statements to be made:
- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
13. Tangible fixed assets
| Fixtures | ||||
|---|---|---|---|---|
| Improvements | and | |||
| to Buildings | Piano | fittings | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 October 2022 | 322,397 | 14,000 | 42,496 | 378,893 |
| Additions | – | – | 3,968 | 3,968 |
| -------------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | |
| At 30 September 2023 | 322,397 | 14,000 | 46,464 | 382,861 |
| ================================ | ============================ | ============================ | ================================ | |
| Depreciation | ||||
| At 1 October 2022 | 192,044 | 14,000 | 42,496 | 248,540 |
| Charge for the year | 16,120 | – | 507 | 16,627 |
| -------------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | |
| At 30 September 2023 | 208,164 | 14,000 | 43,003 | 265,167 |
| ================================ | ============================ | ============================ | ================================ | |
| Carrying amount | ||||
| At 30 September 2023 | 114,233 | – | 3,461 | 117,694 |
| ================================ | ============================ | ============================ | ================================ | |
| At 30 September 2022 | 130,353 | – | – | 130,353 |
| ================================ | ============================ | ============================ | ================================ |
15
Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
14. Investments
| Unrestricted | Endowment | ||
|---|---|---|---|
| Investments | Investments | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 October 2022 | 562,664 | 785,391 | 1,348,055 |
| Additions | – | – | – |
| Disposals | – | (98,367) | (98,367) |
| Transfers | (562,664) | 562,664 |
– |
| Other movements | – | 131,590 | 131,590 |
| -------------------------------- | ----------------------------------------- | ----------------------------------------- | |
| At 30 September 2023 | – | 1,381,278 | 1,381,278 |
| ================================ | ========================================= | ========================================= | |
| Impairment | |||
| At 1 October 2022 and 30 September 2023 | – | – | |
| ========================================= | ========================================= | ||
| Carrying amount | |||
| At 30 September 2023 | – | 1,381,278 | 1,381,278 |
| ================================ | ========================================= | ========================================= | |
| At 30 September 2022 | 562,664 | 785,391 | 1,348,055 |
| ================================ | ========================================= | ========================================= | |
| All investments shown above are held at valuation. | |||
| Creditors: amounts falling due after more than one year | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals | 4,200 | 4,200 | |
| Rent received in advance | 67,946 | 67,946 | |
| Other creditors | 17,842 | 18,982 | |
| ---------------------------- | ---------------------------- | ||
| 89,988 | 91,128 | ||
| ============================ | ============================ |
15. Creditors: amounts falling due after more than one year
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,374 (2022: £5,529).
16
Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
17. Analysis of charitable funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At 1 Oct | Gains and | At 30 Sep | ||||
| 2022 | Income | Expenditure | Transfers | losses | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted fund | ||||||
| - General funds | 816,838 | 369,336 | (402,968) |
(740,284) | – | 42,922 |
| Designated Fund | ||||||
| - Piano Fund | 12,500 | – | – |
– | – | 12,500 |
| Designated Fund | ||||||
| - Protected | ||||||
| Capital Property | ||||||
| Fund | 200,000 | – | – |
– | – | 200,000 |
| Designated Fund | ||||||
| - Flower Fund | 230 | – | – |
– | – | 230 |
| ----------------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | -------------- | -------------------------------- | |
| 1,029,568 | 369,336 | (402,968) |
(740,284) | – | 255,652 | |
| ========================================= | ================================ | ================================ | ================================ | ============== | ================================ | |
| At 1 Oct | Gains and | At 30 Sep | ||||
| 2021 | Income | Expenditure | Transfers | losses | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted fund | ||||||
| - General funds | 796,632 | 299,948 | (242,965) |
(230) | (36,547) | 816,838 |
| Designated Fund | ||||||
| - Piano Fund | 12,500 | – | – |
– | – | 12,500 |
| Designated Fund | ||||||
| - Protected | ||||||
| Capital Property | ||||||
| Fund | 200,000 | – | – |
– | – | 200,000 |
| Designated Fund | ||||||
| - Flower Fund | – | – | – |
230 | – | 230 |
| ----------------------------------------- | -------------------------------- | -------------------------------- | -------------- | ---------------------------- | ----------------------------------------- | |
| 1,009,132 | 299,948 | (242,965) |
– | (36,547) | 1,029,568 | |
| ========================================= | ================================ | ================================ | ============== | ============================ | ========================================= |
17
Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2023
18. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | ||||||
|---|---|---|---|---|---|---|
| At 1 Oct | Gains and | At 30 Sep | ||||
| 2022 | Income | Expenditure | Transfers | losses | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Restricted Fund - | ||||||
| Minister's | ||||||
| Discretionary | ||||||
| Fund | 4,117 | – | – |
(4,117) | – | – |
| ======================= | ============== | ============== | ======================= | ============== | ============== | |
| At 1 Oct | Gains and | At 30 Sep | ||||
| 2021 | Income | Expenditure | Transfers | losses | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Restricted Fund - | ||||||
| Minister's | ||||||
| Discretionary | ||||||
| Fund | 4,117 | – | – |
– | – | 4,117 |
| ======================= | ============== | ============== | ============== | ============== | ======================= | |
| Endowment funds | ||||||
| At 1 Oct | Gains and | At 30 Sep | ||||
| 2022 | Income | Expenditure | Transfers | losses | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Permanent | ||||||
| Endowment Fund | – | 1,633 | – |
– | – | 1,633 |
| Expendable | ||||||
| Endowment Fund | 503,654 | – | – |
744,401 | 131,590 | 1,379,645 |
| -------------------------------- | ----------------------- | -------------- | -------------------------------- | -------------------------------- | ----------------------------------------- | |
| 503,654 | 1,633 | – |
744,401 | 131,590 | 1,381,278 | |
| ================================ | ======================= | ============== | ================================ | ================================ | ========================================= | |
| At 1 Oct | Gains and | At 30 Sep | ||||
| 2021 | Income | Expenditure | Transfers | losses | 2022 | |
| £ | £ | £ | £ | £ | £ | |
| Permanent | ||||||
| Endowment Fund | – | 370 | (282,107) |
– | – | (281,737) |
| Expendable | ||||||
| Endowment Fund | 836,404 | – | – |
– | (51,013) | 785,391 |
| -------------------------------- | -------------- | -------------------------------- | -------------- | ---------------------------- | -------------------------------- | |
| 836,404 | 370 | (282,107) |
– | (51,013) | 503,654 | |
| ================================ | ============== | ================================ | ============== | ============================ | ================================ |
18
Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Management Information
Year ended 30 September 2023
The following pages do not form part of the financial statements.
19
Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 30 September 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Sundry donations | 15,305 | 6,820 |
| Membership subscriptions | 17,659 | 20,857 |
| ---------------------------- | ---------------------------- | |
| 32,964 | 27,677 | |
| ---------------------------- | ---------------------------- | |
| Charitable activities | ||
| Ancillary trades | 1,715 | 15,028 |
| Rentals | 29,761 | 23,860 |
| Other income from charitable activities | – | 80 |
| Dance Academy | 10,136 | 10,136 |
| Academy School | 229,903 | 173,508 |
| Car parking | 41,505 | 39,525 |
| Concerts and other income | 14,500 | 10,134 |
| Legal compensation | 6,204 | – |
| -------------------------------- | -------------------------------- | |
| 333,724 | 272,271 | |
| -------------------------------- | -------------------------------- | |
| Investment income | ||
| Interest receivable | 2,648 | 370 |
| ----------------------- | -------------- | |
| Other income | ||
| Gain on disposal of programme related investments | 1,633 | – |
| ----------------------- | -------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 370,969 | 300,318 |
| ================================ | ================================ |
20
Rosslyn Hill Unitarian Chapel
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 30 September 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Principal activity | ||
| Activities undertaken directly | ||
| Wages/salaries | 65,817 | 62,221 |
| Employer's NIC | 5,508 | 5,273 |
| Pension costs | 5,374 | 5,529 |
| Church management and administration | 96,988 | 128,370 |
| Weddings, Baptisms and funerals | 1,144 | 957 |
| Organ expenses | 10,635 | 9,112 |
| Subscriptions to GLA and LDPA | 4,385 | 4,280 |
| Insurance | 17,716 | 15,588 |
| Choir expenses | 7,044 | 2,438 |
| Minister's expenses | 3,983 | 2,073 |
| Childrens' Chapel | 3,513 | 2,924 |
| Chapel - Major works | 176,661 | 282,107 |
| -------------------------------- | -------------------------------- | |
| 398,768 | 520,872 | |
| -------------------------------- | -------------------------------- | |
| Support costs | ||
| Support charitable activity - Independent examination fees | 4,200 | 4,200 |
| ----------------------- | ----------------------- | |
| -------------------------------- | -------------------------------- | |
| Expenditure on charitable activities | 402,968 | 525,072 |
| ================================ | ================================ |
21