## Trinity Church Islington
## Report and Accounts
year ended 31 July 2020
1 Lamb's Passage LONDON EC1Y 8AB t: 0208 502 5600 e: enquiries@stewardship.org.uk w: www.stewardship.org.uk
## **TRINITY CHURCH ISLINGTON**
## **COMPANY INFORMATION**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **Trustees**
The Reverend Jeremy Hobson (Chair and senior minister) John Moody (Elder) Benjamin Fidler (Elder) Sarah Gentle (appointed 16 November 2020) Edward Linforth (resigned 20 April 2020) Nathan Richards (Assistant minister) (appointed 20 April 2020 and resigned 16 November 2020)
## **Company Secretary**
Rachel Baughen
## **Key Staff**
The Reverend Jeremy Hobson (Chair and senior minister) Nathan Richards (Assistant minister)
## **Governing Document**
Memorandum and Articles of Association dated 2010
**Company Registration Number** 07282612 **Charity Registration Number** 1137910
**Charity Registration Number**
**Principal Address & Registered Office**
Woodbridge Chapel 5 Woodbridge Street London EC1R 0EX
## **Independent Examiner**
Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB
## **Bankers**
Barclays Bank Plc
|**Contents**|**Page**|
|---|---|
|Company Information|1|
|Trustees' Annual Report|2-5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Accounts|9-15|
|Detailed Statement of Financial Activities with Comparatives|16|
Page 1
## **TRINITY CHURCH ISLINGTON**
## **TRUSTEES' ANNUAL REPORT**
## **(INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 JULY 2020**
The trustees, who are the charity's directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity ("the church") is a private company limited by guarantee. It was incorporated on 14 June 2010 (Company Registration No. 07282612) and is governed by its memorandum and articles of association. The charity registered with the Charity Commission on 9 September 2010.
## Trustees
The trustees of the charity (who are also the charitable company's members) are responsible for the overall management of the charity. The trustees during the year and to the date of the approval of these accounts are shown on page 1. New trustees are appointed by a majority of existing trustees; they are inducted into the practical work of the charity when they are appointed and are kept informed about their duties and responsibilities as appropriate.
## Risk assessment
The trustees annually assess the major risks facing the church and have processes in place to address these risks.
## **OBJECTIVES AND ACTIVITIES**
When planning the church’s activities, the trustees, have considered the Commission’s guidance on public benefit and, in particular the specific guidance on charities for the advancement of religion.
Trinity Church Islington was established as a church plant from St Helen’s Church, Bishopsgate, London and meets at St Mark’s Church, Myddelton Square, Clerkenwell, London where they have the use of the church building for Sunday services and other activities during the week. The aim in planting this church, and now in its development, is to be engaged in evangelism, discipleship and bible-centred mission arising from two loves: a love for the Lord Jesus Christ as revealed in the Bible, and a love for those who do not know him as Saviour and Lord.
The church is a non-parochial organisation with a diocesan number in the diocese of London and is full member of the deanery. The present senior minister, the Reverend Jeremy Hobson, was licensed in March 2012 as the minister-in-charge. In addition during the year the church appointed a new unordained Assistant Minister. The church also has a full-time women’s worker.
The church works alongside the existing parish church as a locally-based network church as referred to in the Church of England 2003 publication “Mission Shaped Church” subsequently endorsed by the General Synod of the Church of England.
Page 2
## **TRINITY CHURCH ISLINGTON**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **OBJECTIVES AND ACTIVITIES continued**
Trinity Church Islington aims to enable ordinary people in the church to live out their Christian faith through:
- the relief of need, hardship, physical or mental distress among any persons in the scope of the church’s
- work.
- the support of Christians who are persecuted by reason of their faith.
- the support of Christians who are engaged full-time in the missionary work of proclaiming the Gospel
- and in bringing others to believe in Jesus Christ and to live in accordance with his teaching.
## Worship and Prayer
This year we have continued to gather at 4.30pm on Sundays with a growing group of young professionals and families, in order to pray, sing, and be taught from the Bible. We have been challenged from the book of Romans, both in adult teaching and (for the first time) in matching material written especially for young people. In November, we gathered for a whole-church teaching day on the book of Revelation. We have met regularly as a whole church for prayer, and held regular training events for leaders. Of two candidates selected for ordination training, one is attending theological college this year, and one will begin attending in September.
Bible Study groups are run on a Tuesday evening for members of the church to receive the faithful teaching of the Scriptures. During the year the church has run a book club for women, a men's discussion group, a week of prayer, a series of short talks on spiritual disciplines, and teaching over the Summer called 'Summerlink' examining the topic of Christian discipleship.
## Pastoral Care and Outreach
The church runs, on a Tuesday morning, Story Corner in St Mark’s Church for parents, carers and their young children.
There has been further outreach with a series of invitation events run by small groups looking at Romans 8, several Christianity Explored courses, and events at Christmas and Easter aimed towards the outsider. For the first time, we hosted a 'Try out church Sunday', as well as several Sunday events called 'Ask London', where contemporary questions were addressed. The community choir continued to meet up until Christmas, and sang in the traditional carol service. Finally, we were able to host two events called 'London Lives', where figures from public life spoke about their Christian faith.
## Church Plant
The congregation in Crouch End are now a fully self-supporting parish in their own right, and the Rev Adam Pymble has been appointed as the vicar. The two congregations in Crouch End have united, and are a growing witness in the centre of Crouch End.
Page 3
## **TRINITY CHURCH ISLINGTON**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 JULY 2020**
## Relationships with Trinity Trust Islington
The church works closely with Trinity Trust Islington (registered charity no. 1137906), which was established to help fund the church’s work. Two of the church’s trustees also serves as trustees for Trinity Trust Islington.
Details of the church’s transactions with Trinity Trust Islington are set out in note 13 ‘Transactions with related parties’ to the financial statements.
## **PLANS FOR THE FUTURE**
Looking ahead to the 2020-21 year, our main aims remain unchanged – the faithful and prayerful proclamation of the gospel to those in the Angel area. In particular we aim to:
- run Christianity Explored courses online to maximise participation
- livestream our services
- establish a regular podcast
## **FINANCIAL REVIEW**
During the year income fell by £19,941 to £222,541, and expenditure increased by £26,958 to £237,809. As a result the charity has reported a deficit of £15,268 (2019: a surplus of £31,631) and the charity's net assets have decreased by that amount, to £38,671; this included unrestricted cash of £42,952 (2019: £42,370).
## **RESERVES POLICY**
The trustees of the charity and Trinity Trust Islington have determined that their combined free reserves (which they define to be unrestricted cash) should be no less than £60,000, of which £40,000 should be held by the charity. The figure of £60,000 represents about three months’ of unrestricted expenditure for the charity and is held so that the charity could continue to operate should income and / or expenditure vary unexpectedly. The charity ended the year with free reserves of £42,952 and the charity is complying with its reserves policy.
## **COVID-19**
In March 2020 the charity took steps (in line with government advice) to help contain the nationwide outbreak of Covid-19. This included the temporary suspension of all physical gatherings and the charity has had to curtail, or change, how it operates; the charity has been able to continue some of its activities using on-line media.
The charity is funded by grants from Trinity Trust Islington ('TTI') and this funding is not expected to reduce in the short term. The charity has received assurances that it will be given time to adjust its spending plans should it become apparent that TTI needs to reduce the funding it provides. The trustees continue to monitor income and expenditure and, if it become necessary, will take action to mitigate the impact of Covid19 on the charity's reserves.
Page 4
## **TRINITY CHURCH ISLINGTON**
## **TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **RESPONSIBILITIES OF TRUSTEES UNDER COMPANY LAW**
The trustees are responsible for preparing the trustees' annual 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 the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgements and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the
charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees on 16th November 2020 and signed on their behalf by:
Benjamin Fidler (trustee)
Page 5
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **TRINITY CHURCH ISLINGTON ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2020 on pages 7 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 9 to 10.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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**
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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
4. the accounts 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.
Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB
26 November 2020
Page 6
## **TRINITY CHURCH ISLINGTON**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 JULY 2020**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
5
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
11
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
11|Unrestricted
Funds
£
218,680
2,412
29
221,121
236,389
236,389
(15,268)
-
(15,268)
53,939
38,671|Restricted
Funds
£
1,420
-
-
1,420
1,420
1,420
-
-
-
-
-|Total
Funds
2020
£
220,100
2,412
29
222,541
237,809
237,809
(15,268)
-
(15,268)
53,939
38,671|Total
Funds
2019
£
232,998
9,467
17|
|---|---|---|---|---|
|||||242,482|
|||||210,851|
|||||210,851|
||||||
|||||31,631
-|
|||||31,631
22,308|
|||||53,939|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on page 9-16 form part of these accounts.
Page 7
## **TRINITY CHURCH ISLINGTON**
## **BALANCE SHEET**
## **AS AT 31 JULY 2020**
|Note
**CURRENT ASSETS**
Debtors
7
Cash at bank and in hand
8
**CREDITORS: Amounts falling**
**due within one year**
9
**Net current assets / (liabilities)**
**TOTAL NET ASSETS**
**FUND BALANCES**
11
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
1,030
42,952
43,982
(5,311)
38,671
38,671
36,029
2,642
38,671
-
38,671|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-|Total
Funds
2019
£
1,030
42,952
43,982
(5,311)
38,671
38,671
36,029
2,642
38,671
-
38,671|Total
Funds
2018
£
10,766
46,643|
|---|---|---|---|---|
|||||57,409
(3,470)|
|||||53,939|
|||||53,939|
|||||49,666
4,273|
|||||53,939
-|
|||||53,939|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 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 net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors on 16th November 2020 and were signed on its behalf by:
Benjamin Fidler (trustee)
Charity number: 1137910
The notes on page 9-16 form part of these accounts.
Company number: 07282612
Page 8
## **TRINITY CHURCH ISLINGTON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared 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) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees note that the charity receives most of its income from Trinity Trust Islington and are satisfied that Trinity Trust Islington is both willing and able to continue to support the charity. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future and the going concern basis has been used in the preparation of these financial statements.
In making this assessment the trustees have considered the impact of Covid-19 and have concluded that its impact on net income will not be material.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.
## c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The charity capitalises expenditure on assets when that expenditure exceeds £2,500. To date the charity has not spent more than £2,500 on any one asset and no expenditure has been capitalised.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
Page 9
## **TRINITY CHURCH ISLINGTON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **2 Accounting Policies**
- d) Fund accounting
- General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
- e) Leased assets Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.
## f) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
## g) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
## h) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
## i) Critical accounting estimates and areas of judgement
- The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations and legacies**
|_Grants from Trinity Trust Islington_
For general use
Designated for Christ Church Crouch End
For restricted purposes
_Other grants receivable_
_Donations_
For general use
For restricted purposes
_Income tax recoverable_
Aggregate grants and donations
**me from charitable activities**
Church retreats and events
Community outreach programs|2020
£
217,780
-
1,420
219,200
-
219,200
720
-
720
180
220,100
2020
£
470
1,942
2,412|2019
£
208,907
13,590
2,369|
|---|---|---|
|||224,866
2,180|
|||227,046|
|||760
4,000|
|||4,760|
|||1,191|
|||232,998|
|||2019
£
5,813
3,655|
|||9,467|
- **4 Income from charitable activities**
Page 10
## **TRINITY CHURCH ISLINGTON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **5 Charitable expenditure**
|**a**
**Costs incurred directly on specific activities**
**_Islington_**
Anglican contribution
Staff costs
Clergy residential costs
St. Mark's Church rental
Other venue rental
Training fees
Study grants
Church weekend
Bible study groups
Evangelistic events
Story corner
Other costs
Grants payable (note 5c)
**_Crouch End_**
Clergy residential costs
**b**
**Costs incurred on support & administration**
Governance costs
Examiner's fee for preparing and examining the accounts
Office rental and running costs
Insurance
**Total expenditure**|2020
£
42,565
62,270
73,676
20,382
3,640
4,374
1,159
836
1,085
1,652
311
3,061
15,098
230,108
-
-
2,400
4,649
652
7,702
237,809|2019
£
41,765
39,709
43,024
20,087
3,640
6,552
8,410
9,910
2,998
248
107
6,933
10,779|
|---|---|---|
|||194,160|
|||9,580|
|||9,580|
|||2,400
4,030
681|
|||7,111|
|||210,851|
The fee payable to Stewardship for preparing and examining the accounts was £2,400 (2019: £2,400); in addition the charity paid £630 (2019: £515) to Stewardship for payroll bureau services.
## **c Grants payable**
|Grants for UK and overseas mission
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
The charity's principal grants to institutions comprised:
Crosslinks
The Crossteach Trust
Longheath Baptist Church
Grants to institutions for less than £1,000 each|Institutions
£
10,098
Institutions
£
10,600|Individuals
£
5,000
Individuals
£
179
2020
£
2,000
6,000
2,000
98
10,098|2020
£
15,098|
|---|---|---|---|
||||2019
£
10,779|
||||2019
£
2,600
6,000
2,000
-|
||||10,600|
Page 11
## **TRINITY CHURCH ISLINGTON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **6 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses**
|Gross wages and salaries
Pension costs|2020
£
31,673
5,107
36,780|2019
£
37,816
1,892|
|---|---|---|
|||39,709|
The average monthly number of employees during the year was 2.5 (2019: 2.5). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:
|N Richards (who is a trustee)|Employer
Wages &
pension
salaries contributions
25,000
2,250|2020
£
27,250|
|---|---|---|
No employment benefits were paid to key management in the previous year.
N Richards was employed by the church as an assistant minister and received the above payments for serving in that capacity, not for serving as a trustee. The trustees note that it is not clear whether the governing document allows the charity to employ a trustee. Given the ambiguity, N Richards has resigned as a trustee whilst the trustees seek clarification.
Rev'd Jeremy Hobson (who is the incumbent) receives a stipend from the Diocese and so he is not an employee; some of the Anglican contribution paid to the Diocese is used to help meet the cost of this stipend.
In addition the charity incurred expenditure in respect of the customary provision of accommodation to clergy to help them better perform their duties. During the year the cost of this accommodation to the charity was £43,044 (2019: £42,696) for Rev'd Jeremy Hobson, and £30,600 (2019: £nil) for N Richards.
## **7 Debtors**
|**7**
**Debtors**|||
|---|---|---|
|Tax recoverable
Prepayments and accrued income
Other debtors
**8**
**Cash at Bank and in Hand**
Cash at bank with immediate access
**9**
**Creditors: liabilities falling due within one year**
Accruals|2020
£
30
-
1,000
1,030
2020
£
42,952
2020
£
5,311
5,311|2019
£
1,076
2,500
7,190|
|||10,766|
|||2019
£
46,643|
|||2019
£
3,470|
|||3,470|
## **10 Pension commitments**
During the year employer’s pension contributions totalling £5,107 (2019: £1,892) were payable to defined contribution personal pension schemes. At the balance sheet date the charity owed pension contributions totalling £417 (2019: £240).
Page 12
## **TRINITY CHURCH ISLINGTON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **11 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Training Fund
Christian Worker Fund
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
Mission partner fund
Aggregate of funds|Opening
balance
2020
£
3,356
917
4,273
49,666
53,939
-
53,939|Incoming
resources
2020
£
-
-
-
221,121
221,121
1,420
222,541|Outgoing
resources
2020
£
(1,090)
(542)
(1,632)
(234,758)
(236,389)
(1,420)
(237,809)|Transfers
in the year
2020
£
-
-
-
-
-
-
-|Closing
balance
2020
£
2,266
375|
|---|---|---|---|---|---|
||||||2,642
36,029|
||||||38,671|
||||||-|
||||||38,671|
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|Debtors
Cash at bank and in hand
Creditors falling due within one year||General
Designated
funds
funds
£
£
1,030
-
40,310
2,642
(5,311)
-
36,029
2,642
Unrestricted Funds|Restricted
funds
£
-
-
-
-|2020
£
1,030
42,952
(5,311)|
|---|---|---|---|---|
|||General
funds
£
1,030
40,310
(5,311)
36,029|||
|||||38,671|
In the previous year the movements in the charity's funds were as follows:
||Opening|Incoming|Outgoing|Transfers|Closing|
|---|---|---|---|---|---|
||balance|resources|resources|in the year|balance|
||2019|2019|2019|2019|2019|
||£|£|£|£|£|
|_Designated Funds_||||||
|Christ Church Crouch End|-|13,590|(9,580)|(4,010)|-|
|Training fund|8,161|-|(4,805)|-|3,356|
|Christian Worker fund|6,875||(5,958)|-|917|
||15,036|13,590|(20,343)|(4,010)|4,273|
|_General Unrestricted Funds_|3,771|219,343|(177,458)|4,010|49,666|
|Total Unrestricted Funds|18,807|232,933|(197,801)|-|53,939|
|_Restricted Funds_||||||
|Cloudesley grant|3,501||(3,501)|-|-|
|JobCentre Plus grant|-|2,180|(2,180)|-|-|
|Retreat||5,000|(5,000)|-|-|
|DoWP grant||2,369|(2,369)|-|-|
||3,501|9,549|(13,050)|-|-|
|Aggregate of funds|22,308|242,482|(210,851)|-|53,939|
Page 13
## **TRINITY CHURCH ISLINGTON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **11 Funds continued**
## **Analysis of net assets by fund**
In the previous year, the assets and liabilities of the various funds were as follows:
||Unrestricted Funds|Unrestricted Funds|||
|---|---|---|---|---|
||General|Designated|Restricted||
||funds|funds|funds|2018|
||£|£|£|£|
|Debtors|10,766|-|-|10,766|
|Cash at bank and in hand|42,370|4,273|-|46,643|
|Creditors falling due within one year|(3,470)|-|-|(3,470)|
||49,666|4,273|-|53,939|
## Designated funds
The **Training** fund represents funds set aside by the Trustees to help meet ministry training costs.
The **Christian Worker** fund represents a grant where the grant maker has expressed a wish, which is not binding, for their grant to be used to help fund the employment of a Christian worker by Trinity Church Islington. The trustees have sought to honour that wish by designating the income received for that purpose.
## Restricted funds
The **Cloudesley Grant** fund represents a grant received to help fund the purchase of new bibles and audio visual equipment.
The **JobCentre Plus Grant** fund represents a grant received for equipment that will help staff better perform their duties.
The **DoWP Grant** fund represents a grant received to provide training for named individuals.
The **Retreat** fund represents a donation received to help meet the cost of a church retreat.
The **Mission partner** fund represents donations received to help fund grant giving to individuals and organisations engaged in mission.
## **12 Operating lease commitments**
At the year-end, the charity has an operating lease for a residential property used by clergy; in the previous year the charity also had an operating lease for a church building. The minimum rent payable in respect of these leases is as follows:
|Within one year
Between one and five years
Payments falling due:|2020
£
30,000
-
30,000|2019
£
54,919
31,755|
|---|---|---|
|||86,674|
During the year the charity was charged £49,282 (2019: £18.682) for its operating leases. The charity rents four other premises monthly and, with respect to these premises, there were no operating lease commitments at the year-end.
Page 14
## **TRINITY CHURCH ISLINGTON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 JULY 2020**
## **13 Transactions with related parties**
During the year the charity:
- a) did not receive any donations (2018: £nil) from related parties (which includes trustees, key management and anyone closely connected to them).
- b) paid expenses totalling £330 (2019: £769) to a trustee and his wife for conferences expenses; reimbursements for expenses incurred when acting as agent for the charity are not included in this disclosure.
The charity works closely with Trinity Trust Islington (registered charity no. 1137906) and the several trustees serve on the Boards of both charities:
- a) During the year, the charity received grants totalling £218,200 (2018: £224,866) from Trinity Trust Islington (see note 3 'Donations and legacies').
- b) Trinity Church Islington also sometimes pays administrative expenses for the charity, which the charity subsequently reimburses.
No amounts were owed to, or by, Trinity Trust Islington at the balance sheet date (2019: £nil).
Except as disclosed in note 6 'Analysis of staff costs', there have been no other transactions with related parties during the year.
## **14 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £1.
Page 15
## **TRINITY CHURCH ISLINGTON**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 JULY 2020**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
5
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
11
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
11||General
Designated
2020
2020
£
£
218,680
-
2,412
-
29
-
221,121
-
234,758
1,632
234,758
1,632
(13,636)
(1,632)
-
-
(13,636)
(1,632)
49,666
4,273
36,029
2,642
Unrestricted funds|Restricted
2020
£
1,420
-
-
1,420
1,420
1,420
-
-
-
-
-|Total
2020
£
220,100
2,412
29
222,541
237,809
237,809
(15,268)
-
(15,268)
53,939
38,671|||General
Designated
2019
2019
£
£
209,858
13,590
9,467
-
17
-
219,343
13,590
177,458
20,343
177,458
20,343
41,885
(6,753)
4,010
(4,010)
45,895
(10,764)
3,771
15,036
49,666
4,273
Unrestricted funds|Restricted
2019
£
9,549
-
-
9,549
13,050
13,050
(3,501)
-
(3,501)
3,501
-|Total
2019
£
232,998
9,467
17
242,482
210,851
210,851
31,631
-
31,631
22,308
53,939|
|---|---|---|---|---|---|---|---|---|---|
Page 16