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← Trinity Church Islington

2022-07-31-accounts

Trinity Church Islington

Report and Accounts Year ended 31 July 2022

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

TRINITY CHURCH ISLINGTON

COMPANY INFORMATION

FOR THE YEAR ENDED 31 JULY 2022

Trustees

The Reverend Jeremy Hobson (Chair and senior minister) John Moody (Elder) Benjamin Fidler (Elder) Sarah Gentle

Company Secretary Rachel Baughen

Key Staff

The Reverend Jeremy Hobson (Chair and senior minister) Nathan Richards (Assistant minister) - left 31 July 2022 Madhush Matthews (Assistant minister) - joined 1 August 2022

Governing Document

Memorandum and Articles of Association dated 2010

Company Registration Number 07282612 Charity Registration Number 1137910

Principal Address & Woodbridge Chapel Registered Office 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 2-4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-13
Detailed Statement of Financial Activities with Comparatives 14

Page 1

TRINITY CHURCH ISLINGTON

TRUSTEES' ANNUAL REPORT

(INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2022

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 applied 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 had an Assistant Minister, a women’s worker, and two students who are studying at Oak Hill Theological College.

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.

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.

Page 2

TRINITY CHURCH ISLINGTON

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2022

OBJECTIVES AND ACTIVITIES continued

Worship and Prayer

Our ‘book of the year’ in 2021-22 was 2 Corinthians, and we have been delighted to see growth in numbers in our 4.30pm service, particularly in the 20-30 age group. Small groups have restarted, with a number meeting in the church building, alongside one in a local home. For the first time since the pandemic, we were able to have a whole-church weekend away in May, with Johnny Dyer as the speaker. We have also met regularly to pray, with a ‘week of prayer’ in January 2022.

Pastoral Care and Outreach

Our men’s work has restarted and met regularly on Wednesday evenings with a weekend away in November, while our women’s work has focussed on a number of seminars throughout the year. ToTs (Toddlers on Thursday) and WoT (women on Thursday) now meet consecutively midweek, and provide opportunities for local parents and carers to meet church members.

A new local outreach group for families called ‘Blast-Off Sundays’ has been meeting monthly on a local estate, and there were regular outreach events such an evening jazz concert (‘Sweetness and Jazz’) which brought many local people into the church building, to hear jazz music and an evangelistic talk.

We have been able to run courses such as ‘Life Explored’, and made videos of evangelistic talks which were distributed online.

Church Plant

Christ Church Crouch End continues to grow, and there is a warm relationship between that church and Trinity Church Islington.

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. Three 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

In the 2022-2023 year:

i) we are planning to appoint a new assistant minister when Nathan Richards leaves in the Autumn. ii) we are planning to appoint a part-time children’s worker.

iii) we are also planning to restart the Community Choir in the Autumn.

FINANCIAL REVIEW

During the year income increased by £7,231 to £246,784, and expenditure increased by £11,742 to £240,325. As a result the charity has reported a surplus of £6,459 (2021: £10,970) and the charity's net assets have increased by that amount to £56,100. Net assets included cash of £55,286, of which £45,677 (2021: £53,097) was unrestricted.

Page 3

TRINITY CHURCH ISLINGTON

TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2022

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 £45,677 and the charity is complying with its reserves policy.

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

  1. 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 and signed on their behalf by:

Benjamin Fidler

_______ Benjamin Fidler (trustee)

Date: 16 January 2023

Page 4

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 2022 on pages 6 to 14 following, which have been prepared on the basis of the accounting policies set out on pages 8 and 9.

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

Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 7 February 2023

Page 5

TRINITY CHURCH ISLINGTON

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2022

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
£
227,780
8,764
-
236,544
239,685
239,685
(3,141)
-
(3,141)
49,632
46,491		 Restricted
Funds
£
10,240
-
-
10,240
640
640
9,600
-
9,600
9
9,609		 Total
Funds
2022
£
238,020
8,764
-
246,784
240,325
240,325
6,459
-
6,459
49,641
56,100		 Total
Funds
2021
£
239,540
12
1
239,553
228,583
228,583
10,970
-
10,970
38,671
49,641

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 pages 8 to 14 form part of these accounts.

Page 6

TRINITY CHURCH ISLINGTON

BALANCE SHEET

FOR THE YEAR ENDED 31 JULY 2022

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
£
4,475
45,677
50,152
(3,661)
46,491
46,491
44,392
2,099
46,491
-
46,491		 Restricted
Funds
£
-
9,609
9,609
-
9,609
9,609
-
-
-
9,609
9,609		 Total
Funds
2022
£
4,475
55,286
59,761
(3,661)
56,100
56,100
44,392
2,099
46,491
9,609
56,100		 Total
Funds
2021
£
1,420
53,106
54,526
(4,885)
49,641
49,641
46,958
2,674
49,632
9
49,641

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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:

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 and signed on its behalf by:

Benjamin Fidler --------------------------------------Benjamin Fidler (trustee)

Date: 16 January 2023

Company number: 07282612

Charity number: 1137910

The notes on pages 8 to 14 form part of these accounts.

Page 7

TRINITY CHURCH ISLINGTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2022

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.

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.

d) Fund accounting

Page 8

TRINITY CHURCH ISLINGTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2022

2 Accounting Policies

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
For restricted purposes
Other grants and donations
For general use
For restricted purposes
Income tax recoverable
For restricted purposes
Aggregate grants and donations
4
Income from charitable activities
Church retreats and events
Community outreach programs		 2022
£
227,760
240
228,000
20
10,000
10,020
-
-
238,020
2022
£
6,662
2,102
8,764		 2021
£
235,700
300
236,000
442
2,678
3,120
420
420
239,540
2021
£
-
12
12

Page 9

TRINITY CHURCH ISLINGTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2022

5 Charitable expenditure

NOTES TO THE ACCOUNTS
TRINITY CHURCH ISLINGTON
FOR THE YEAR ENDED 31 JULY 2022
5
Charitable expenditure
a
Costs incurred directly on specific activities
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
Youth Club
Story corner
Other ministry costs
Grants payable (note 5c)
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		 2022
£
43,090
63,345
73,078
19,200
3,640
-
1,575
6,942
1,122
1,111
695
460
4,566
14,000
232,823
2,040
5,068
394
7,502
240,325		 2021
£
42,900
61,158
73,474
18,130
2,427
25
-
-
43
32
-
125
3,654
19,089
221,058
2,058
4,813
654
7,525
228,583

Total expenditure

This year's provision for the fee payable to Stewardship for preparing and examining the 2022 accounts is £2,040 (2021: £2,280) in addition the charity paid £635 (2021: £627) 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		 Institutions
£
10,000
Institutions
£
10,000		 Individuals
£
4,000
Individuals
£
9,089
2022
£
2,000
6,000
2,000
10,000		 2022
£
14,000
2021
£
19,089
2021
£
2,000
6,000
2,000
10,000

Page 10

TRINITY CHURCH ISLINGTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2022

6 Analysis of staff costs, the cost of key management personnel and trustee remuneration

lysis of staff costs, the cost of key management personnel and trustee remuneration
Gross wages and salaries
Pension costs		 2022
£
58,163
5,182
63,345		 2021
£
56,144
5,015
61,158

The average monthly number of employees during the year was 3 (2021: 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 amounted to £28,217 (2021: £27,524).

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, who are key management, to help them better perform their duties. During the year the cost of this accommodation to the charity was £42,678 (2021: £43,260) for Rev'd Jeremy Hobson and £30,000 (2021: £30,000) for N Richards.

7 Debtors

Tax recoverable
Prepayments and accrued income
Other debtors
h at Bank and in Hand
Cash at bank with immediate access
ditors: liabilities falling due within one year
Accruals
Grant obligations		 2022
£
-
3,450
1,025
4,475
2022
£
55,286
2022
£
3,661
-
3,661		 2021
£
420
-
1,000
1,420
2021
£
53,106
2021
£
2,885
2,000
4,885

8 Cash at Bank and in Hand

9 Creditors: liabilities falling due within one year

10 Pension commitments

During the year employer’s pension contributions totalling £5,182 (2021: £5,015) were payable to defined contribution personal pension schemes. At the balance sheet date the charity owed pension contributions totalling £432 (2021: £420).

Page 11

TRINITY CHURCH ISLINGTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2022

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
Staff accommodation fund
Hardship fund
Mission partner fund
Total Restricted Funds
Aggregate of funds		 Opening
balance
2022
£
2,298
375
2,674
46,958
49,632
-
9
-
9
49,641		 Incoming
resources
2022
£
-
-
-
236,544
236,544
10,000
-
240
10,240
246,784		 Outgoing
resources
2022
£
(1,575)
-
(1,575)
(238,110)
(239,685)
(400)
-
(240)
(240)
(239,925)		 Transfers
in the year
2022
£
1,000
-
1,000
(1,000)
-
-
-
-

-
-		 Closing
balance
2022
£
1,723
375
2,099
44,392
46,491
9,600
9
-
9,609
56,100

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
In the previous year the movements in the charity's funds
Designated Funds
Training fund
Christian Worker fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Hardship fund
Mission partner fund
Aggregate of funds		 General
Designated
funds
funds
£
£
4,475
-
43,579
2,099
(3,661)
-
44,392
2,099
were as follows:
Opening
Incoming
Outgoing
balance
resources
resources
2021
2021
2021
£
£
£
2,266
-
(2,000)
375
-
-
2,641
-
(2,000)
36,030
236,155
(223,194)
38,671
236,155
(225,194)
-
848
(839)
-
2,550
(2,550)
-
3,398
(3,389)
38,671
239,553
(228,583)
Unrestricted Funds		 Restricted
funds
£
-
9,609
-

9,609
Transfers
in the year
2021
£
2,032
-
2,032
(2,032)
-
-
-
-
-		 2022
£
4,475
55,286
(3,661)
56,100
Closing
balance
2021
£
2,298
375
2,674
46,958
49,632
9
-
9
49,641

Page 12

TRINITY CHURCH ISLINGTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2022

11 Funds continued Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

e previous year, the assets and liabilities of the various funds were as follows: funds were as follows:
Unrestricted Funds
General Designated Restricted
funds funds funds 2021
£ £ £ £
Debtors 1,420 - - 1,420
Cash at bank and in hand 48,424 4,674 9 53,106
Creditors falling due within one year (2,885) (2,000) - (4,885)
46,959 2,674 9 49,641

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 Hardship fund was created from donations received to help people facing hardship.

The Mission partner fund was created from donations received to help fund grant giving to individuals and organisations engaged in mission.

The Staff accommodation fund was created from a grant received to help provide accommodation to a church worker.

12 Operating lease commitments

At the year-end, the charity has an operating lease for a residential property used by clergy. The minimum rent payable in respect of these leases is as follows:

Within one year
Payments falling due:		 2022
£
30,000		 2021
£
7,500

During the year the charity was charged £30,000 (2021: £30,000) 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.

13 Transactions with related parties

The charity works closely with Trinity Trust Islington (registered charity no. 1137906) and several trustees serve on the Boards of both charities. During the year the charity received grants totalling £228,000 (2021: £236,000) from Trinity Trust Islington (see note 3 'Donations and legacies'). No amounts were owed to, or by, Trinity Trust Islington at the balance sheet date (2021: £nil).

No donations (2021: £nil) have been received from other related parties, though related parties (which includes the trustees, other key management and anyone closely connected to them) have made donations to Trinity Trust Islington.

Except for the reimbursement of expenses incurred when acting as agent for the charity, or incurred when undertaking clergy duties, no expenses (2021: £nil) were paid to (or for) the trustees.

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 13

TRINITY CHURCH ISLINGTON

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 JULY 2022

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
2022
2022
£
£
227,780
-
8,764
-
-
-
236,544
-

238,110
1,575
238,110
1,575
(1,566)
(1,575)
(1,000)
1,000
(2,566)
(575)
46,958
2,674
44,392
2,099
Unrestricted funds		 Restricted
2022
£
10,240
-

-

10,240
640
640
9,600
-
9,600
9
9,609		 Total
2022
£
238,020
8,764
-

246,784
240,325
240,325
6,459
-
6,459
49,641
56,100		 General
Designated
2021
2021
£
£
236,142
-

12
-

1
-
236,155
-
223,194
2,000
223,194
2,000
12,961
(2,000)
(2,032)
2,032
10,929
32
36,030
2,641
46,958
2,674
Unrestricted funds		 Restricted
2021
£
3,398
-
-

3,398
3,389
3,389
9
-
9
-
9		 Total
2021
£
239,540
12
1
239,553
228,583
228,583
10,970
-
10,970
38,671
49,641

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