Charity registration number 1137233 Company registration number 07250346 (England and Wale$l CITY HOPE CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 *ACFG5N6G* 0211112023 COMPANIES HOUSE A13 #52 CITY HOPE CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Jela Lynch Joanna Peacknck Dave Staunton Wellesley Watkins John Haryis Secretary Rebecca Whiluesea Chadty number 1137233 Company numb•r 07250346 Prlnclpal addrèss Onjmmond Christian Centre 121 Drurnfflon¢J Road l￿dOn SE16 2JY Registered offtce Dnjmmond chiisth.an Centre 121 Dwrnmond Road London SE16 2JY Indèpèndènt èxaminèr Rthard F Hopper 4 Rh(#Jfa Clawdd Offa Denbigh DenbKJhshire LL16 4RJ CITY HOPE CHURCH CONTENTS Page Trustees. report ststemenl of trusiees. responsibilities Independent examÈnéls report Statement of finanual actiwties Balance sheet Noles to Ihe finanual statements 8-19 CITY HOPE CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The truslees present Iheir annual repcwt and financaal slalements lor the year ended 31 Marth 2023. The financial ststernents have been prepared in aCc￿￿anC& with thè attounting poliues set out in notè 1 to thé rinancial statements and compty with the charitys conslitution. the Companiès Att 2006 and "Accounting and Reporting by Charilies.. Statemenl of Recommended Practice applicable to ¢haritFes preparing their accounts in accordance wth the FinaTroal ReFQrting Standard applicable In the UK and Republic of Ireland {FRS 1021" (effective 1 JanLtary 20191. Obje¢tives and a¢livities The charitls objèct is the proclamai￿ ol the chrisb.èn fatth. The poliues adopted in furtheran￿ of thts object are the running of a church in London and there has beeN no change in these during the year. Thè tnJstèès have paid due regard to gutdance tssued by the Charity commiss￿ in deciding vthat actiwties the chanty shou5d undertake. Aehievements and perforwnane• A summary of the developmenls, activities and achtevem8nts of thurch during the year is set out below. Regular Sunday services were held in our p￿miseS a weèkly averagè attendancè of around 200. A debt advice cerbtre was nJn in parknership with Christians Against Povety. ReguL3r cnmmunity work took place induding Youth 111-171 work {weekly actiwties and a wnter and svmrner evenll- a weekty f￿bank in conjvnction with Sovthwark loodbank. and a weewy SUPFKJrt group, Hope Tuesday. Financial review The finanaal transactioTh% of tl)e chvrch during year and the financial tosition at the end of Ihe year are summarised in the attached accojnts. The lrnstees consider Ihe finanual positi￿ lo be Satisfactory. The majority of donations rèceived arè from standing orders and bank transfers1£187.7681 and the gift aid tax refunds for the year totalled £44.906. The trustees encourage reguLir giving by standing older a5 this provides a reliable figure for budgetary planning. It is the pdicy of the charity that unrestricted fiJnds which ha¥È been designaled for a sptstyfic use shovkl bè main¢ained al a level equivalent to between Ihree and SIK month's èxpenditure. rhe t￿st￿￿$ tonsider thai reserves at this level ensure Ihat, in the event ol a &gnifi￿nt drop in fvnding. tw wll be able to wntinue the charity's current activities Whi￿ considerats'on is given to ways in whith additional funds may be raised. This lev81 of reserves has been maintained throughThJt the year. The trustees h8ve 8sse55ed the major risks to which Ihe charity is exwsed, and a￿ satisfied that systems are In pla¢e lo miligate exposure t¢ ihe major risks. Structure, governance and management The charity is a company limited by guarantee. The truslees. who are also the directors for Ihe purpose of company Law, and who served during the year and up to the date of S￿nature of the financial statements wer8.. Angela Lynch Joanna PeacAxk Dave Staunton Wellesley Watkins John Harris None of the tnJste•s has any benefioal interest in the ￿rnPanY. Al of the tnjstees are members of the company and guarantee to contribute £1 in the event ol a winding up. The trustees oversee the adrninistrative matters ofthe thurch. de*ating day4￿aY and pastoral matters to the paid staff. CITY HOPE CHURCH TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The tnJstees' report was approveol by the Board of Trustees. Dave Trustee taunton Dated.. ..11.-.lo.:LS CITY HOPE CHURCH STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The trustees, vtho are also Ihe director5 of City Hope Church ftx the Pufpose of company law. are res￿SIble for preparing the Trustees. Rep￿t and the finanrial statements in accordan￿ wth applicable law aThJ United Kingdom Accounting Standards Iunited Kingdom Generally AccEpted Accounting Practice}. Company Law requires Ihe trustees fo prepare fjnancial Statements for each finanual y8ar ￿lch give a Ifue and lair view of the state of affairs of the charity and of the incoming resources and application of resources. induding the income and expenditure, of the chantsble cKJmpany for that year. In preparing these fjnancial statement5. Ihe tru5tee5 are requiretl to: - select suitable acwvnting policies and then apply them ¢c￿sistent￿. - obseNe the methods and prinuples in Ihe Charilies SORP: - make judgements and estimates thal are reasonatjle and prudent". state whether applicable UK Accovnling Slandard5 have be￿ folknvad. subjact to any material departures disclosed and expL8ined in Ihe rmanc1￿ sfaternents. and prepare Ihe finanaal slatements the going concern basis unless it is inappropriate to presume Ihal ihe charity will conbnue in operation. The trustees are responsible for keeping adequate accounling records that disdtsse with reasonable accuracy at any b'me the financial position of the charity and enable them to ensure that the financial statements CoM￿Y with the Companie5 Act 2006. They are also responsible fly safeguarding the assets of the charity and hence for taking reasonable steps for the p￿ven￿On and detection offraud ané other ir￿gUIantie$. CITY HOPE CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITY HOPE CHURCH I report to the trustees (M) my examination of the finaNial Statements of Cty Hope Chur¢h ltt)e (l)arityl for the year ended 31 March 2023. R•sponsibrliti•s and basis of report As the truslees of the charity land also its directots for th8 purposes of company Lawl you are responsible for the preparation of the finanual statements in 8ccordan¢£ with thè requirements of Ihe Companies Act 2006 Ithe 2006 AGtI. Hawng satisfied mysew that the financial statements of the charity a￿ not required to be audited under Part 16 of Ihe 2006 Act and a￿ eligible lor independent examinats"on. I report in ￿spect of my examination of the charity's flnancial ststements camed out under sett￿n 145 of the Charities Acl 2011 Ilhe 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commisson under sÈctK)n 1451Sllbl of the 2011 Act. Indep•ndent exarninerfs statement Since the charity's gross income exceeded £250,Crf)O your examiner must be a member of a body listed in seclion 145 01 the 2011 Act. I confirm that l am qualffjed to undertake the examination because l am a rnember of The Institute ol Chartered Accountsnts in England and Wales. which is one ol Ihe listed bodies. I have completed my examina￿on. I wnfirm thal no matters have cA)me to my attention in wnedion wth thè examination giving me cause to believe that in any material respecl.. accounting rècords werè not kept In rèspèct of the thaiity as required by sectK)n 386 of the 2006 Act., or the financial ststements do not accord with those records", or the financial statemenls do not compty wilh the acLounbng requi￿rnents of secrion 396 of the 2006 Aa Other than any requirement Ihal the acwjnts give a tnje and fair view which 15 not a matter considered as part of an independent examination-, or the financial ststements have not been prepared in accordance with the rnethods and pnnCip￿S of thè Statement of Recommended practi￿ for accounbng and reportiry by charities appIic8ble to charities preparing their aC￿UnIS in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no con¢¢ms and have come acr¢)ss no olher matters in connection the examination to which attention sho d bè drawn in this repjrt in order lo enab￿ a F￿0Per urKlèrstsndFNJ of Ihe finanual statements to be reathed. Richard F Hopper Chartered A¢¢ountant 4 Rhodfa Clawdd Offa Denbigh Denbighshire LL16 4RJ Dated.. l.i...Q.4bL IoL7 CITY HOPE CHURCH STATEMENT OF FINANCIAL ACTWlnES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 T¢)ial ds l￿d8 2022 2D22 2D22 2022 Income from.. Dwlions anttlegaryes 25T.654 126,99B 248.791 70.533 12.231 88.378 3,254 82,653 13,6 IDvesbnenLs laiwbal OlherinLI)me 8JT8 82.651 13.694 rotsl inCDm 358263 126 485261 M.3 70.525 418.915 nditur8 on.. Chari&￿e3th￿b8s 337.124 15D.781 467.9)5 311.186 S5A71 367,059 Net9a47￿¢1ts$￿￿}(M) invÈsbwnts {41.7891 14, Neirnovetiiertt in Iynds 120.6501 (rJ,7831 (44.4331 $2.Cfj1 14.654 86,655 Nètrnov•merf in hthnds I20￿} 1217831 {44.4331 2.rA)1 14.654 6,655 baL￿￿e$ at l Apnl 2022 1.TT2.4•8 7W ￿.{1X1 2.511.652 1.rn.447 58.550 666.orh) 2,444,997 Fund balances a¢31 M¥th 2023 1.751. 49.421 2.467.219 1.7T2.448 n.204 866.OfM) CITY HOPE CHURCH STAYEMENT OF FINANCIALACTivrriES ICONTINUEDI INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR ThE YEAR ENDED 31 AIARCH 2023 CITY HOPE CHURCH BALANCE SHEET ASAT31 MARCH2023 2023 2022 Notes F•xed assets Tangible assets Investments 13 14 83.395 1,994,616 112,899 2.032,859 2,078,011 2,145,758 CU￿tTht assets Stocks Debtors Cash at bank and in hand 15 16 9W 18,294 352.194 11.853 382.596 394.449 371.388 Creditors: amounts falling due wrlhin one year 17 15.2411 15.4941 Net ujrrenl assets 389,208 365,894 Totsl ass•t$ les$ Current liabilityes 2.467.219 2.511,652 Capital funds Endowment funds- general Income funds Restncted funds Unrestricted lunds 18 666.000 666.￿0 19 49.421 1.751,798 73.204 1.772,448 2.467.219 2,511,652 The company is entitled to the exemption from the audrt requirement contsined in secth)n 477 of the Companies Act 2006. lor the year ended 31 March 2023. The directors acknowledge their res[￿SibIlitieS for complying with the requirements of the Companies Act 2006 with respect lo ac£ounty'ng records and the preparalion of finanaal statements. The mernbers have not required the ccryany to obtsin an audit of its financial siatemenls for the year in question in accordance with section 476. These financial ststements have been prepare(l in 3CCwdar￿ Ihe provisions applicable to c￿npanieS subject to the small companies regime. IY 6&k/ M? The finanaal statements were approved by the Trustees on ......................... Dave Staunton Trustee Wellesley Watkins Trustee Company registration number 07250346 CITY HOPE CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Aeeounting policies Charlty I￿Orn13t10rt City Hope Church is a wivate company limited by guarantee incor￿[ated in England and Wales. The istereunts at the time ¥then the church inojrs a liabih.ty to make payrnent. CITY HOPE CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 Aeeounting poliei•s (Continued) 1.6 Tangible fixed assets Tangible fixed assets Are initially measured ai cost and subsequently measured at CLJSt or valuatim, net of depreciation and any impairment k)sses. Dep￿ciall0n is recognis8d so as to ¥￿ile off the cost ￿ valuation of assets less their residual values over their useful lives on ihe followng bases.. Propety improvements Fixtures and fith.ngs Computers 4% p.a. on cost IO% p.a. ￿ c£Jst 25% p.a. (¥) cost Thè gain OT los$ arising on the disposal of an asset is daennined #s the difference between the salè proceèds 2nd the carrying value of the asseL and is recognised in Ihe staiemenl of financial activities. 1.7 Investment properties Investment property. wh¢ch is property held to eam ￿nts1s andlor for capilal appreciab'on. is initially cognised at cosl which includes the pvrthase cost and any directty altributable expenditure. Subsequently il is me8sured at faiT valkje at the r8porbng end tlate. The surplus or defiut on revaluation is r8cognisÈd in profit or k)ss. 1.8 Fixed asset investrnenls Fixed asset investments are inits.alty measured at transaGtw prir£ exduding transactitsn costs, and are svbsequently measured ai fair value at eath reporting date_ Changes in fair value are re¢ognis¢d in net incomol{expendilurel for the year. Trdn5adion costs are expensed as incvrred. 1.9 Impairnient of fixed assets Al èach reporting and éatè, the charity reviews Ihe carying amounts of lis tangible ass8ts to detemine whether there is any indicati¢)n that tlK>se assets have suffered an impairment loss. If any such Indicaiion exists. thè rècovèrable amount of Ihe asset is estimated in order lo deterrninè thè èxtent of tha impaimient loss {if any). 1.10 Stocks Stocks are stated at thè bwei of cosl and estimaied sdh'ThJ price less costs io ry)mpl8té and sell. Cost comprises direct materials and, where applicable, dirert labour costs and those overhea¢Js that have been incurred in bringing the St￿kS ¢0 present Ict8tion arbd rA)nditson. It8rns held for distnbution at no or nominal consider8tson are measured the k)wer of ￿pL￿r￿ment rA)st and cost. Nèt realISab￿ value is the estimated selling price less 811 e5timateil u)sts of coff4)1et*)n and costs to be incurred in marketing. selliThJ and di51rilxJlion. 1.11 Cash and rash equivalents Cash and rAsh equivalents indLtdè cash in hand. deposits hekl al ￿11 with banks. other short-term liquid investments with original maturibes of three months (x less. and bank overdraft5. Bank overdrafts are shown thin borrowings in currenl k'abilitse5. CITY HOPE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinuedl 1.12 Finaneial instruments The charity has elected to apply the pwowsions of Secaion 11 'BaS￿ Finanoal Instruments. and Sècthon 12 'Other Financial Instruments Issues, (rf FRS 102 to all of its financtal instruments. Financial instrumènts are recognised in the chariws balance sheet whèn the charity becomes paty lo the contractual prO￿ls1OnS ol the instrument. Financial assets and liabilities a￿ offsèi. wth the net amunts presentÈd in the financial slatements, when Ih8r8 is a légally enforceable ￿ht to sèt off the reccrfJnised amounts and th￿ is an intention to settle on a net basis or lo re*ise the asset and settle Ihe liatm.lity $imullaneousfy. 8osi¢ financial assets Basic financial assets. which inctude debtots and cash aThJ bank balan￿s, are initially measured at transaction price induding transacb.on costs and are subsequenlly tsrrièd at amortised cost using the effeetivè interest method unless the arrangement consts"tutes a finanang Iransaction, where the transaction is measured at the present value ol the fisture receipts discoLfnted al a market rale of interest. Financial assets assified as recAivablÈ wthin one year a￿ not aM0￿"sel. Basi¢ fina￿131 liabilili•s Basic financial Ikabilities, including creditois and bank thns are initially recognised at transaction price unles5 the arrangement constitutes a financing transaction, where the debl instrumenl is rneasured at th8 present value of the future payrents di5cosJnted at a market rale of interest. Finanual IDbililies dassified as payable wthin one year are rKJt amorthsed. Debt inslruments are subsequenuy carried at amortised ￿5t. using Ihe effective interest rate m8thod. Trade uedilors are oblvJatK)ns to pay for goods ry services that have been acquired bn the ordinary course of operations from suppliers. Arnounts payable are dassified as cu￿ent liabililies if payment is due within on8 year or less. If not. they 8fe presented as nOn-￿￿ent liabilities. Trade creditor5 are rewnised Initially at transaction prKe and sutisequenuy measured at amortised Gosi using the eff￿tive interest m¢thcxJ. Dern¢ognltffon of finan¢ial liabilitles Finanoal liabilities are derecognised when the ¢hariVs contracbjal oU￿all0￿$ ex¥M"re or are dischargÈd or earn¢ell¢V•M￿l In lund& In¢oml l Apr4lOZI *•S¢u¢¢•S *xp•ndid 31 lfftw¢h2013 IrternabDn￿ work 26.915 719 28224 1D.￿l 12.913 19.1gJ} 113.632} 17.935} 132.5341 18651 113.3401 128.1161 {75.8281 24.331 Covid 5UPWKt Youvbwotker UklAm*) rei*1 XJ229 7.436 28.116 61.843 14,325 10.010 112,3121 24.648 10,665 70,525 ISS,871} 73204 126.998 1151.7811 49,421 20 AMty61501 netassets betseefft fund6 Totsi fu 2022 funds 2022 fund 2022 23 2D22 Fund bd*ttsS èt 31 Tangl1￿e35SetS Inve8tmEnts cU￿eT￿ we1511lid%*tsÈxl 82.978 1.994.616 3￿.kn 49.( 417 83.395 112.B99 1.994.$16 1.366.B$9 289.2￿ 292.889 n.205 112.B99 866.W) 2.D32.bS9 365.894 2.417. 49.421 2.167.219 1.772.447 73.205 s66.0￿) 2.511.$52 CITY HOPE CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 21 Related party transactions There were no disdosable related party transauKJns during the year {2022- none). 19-