Charity number: 1139310
Streatham United Reformed Church Charity
Trustees' report and financial statements for
the year ended 31 December 2020
Streatham United Reformed Church Charity
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 - 3 |
| Independent examiners' report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 10 |
Streatham United Reformed Church Charity
Legal and administrative information
Charity number 1139310 Business address 388 Streatham High Road Streatham London SW16 6HX Trustees Mr Okeke Azu-Okeke (MA) Mr Ruben Gbewonyo Ms Mercy Amponsaa Nimako (MPhil) Mr Clement Tagoe Ms Sarah Ohwee Amon (FCCA) Bankers NatWest Streatham Branch 54 Streatham High Road London SW16 1XE
Page 1
Streatham United Reformed Church Charity
Report of the trustees
for the year ended 31 December 2020
The trustees present their report and the financial statements for the year ended 31 December 2019. The trustees who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
The governing instrument of the Charity is distilled from the United Reform Church Acts of Parliament (1971 and 1982) and the Scheme of Union (1972).
The day to day operation of the Charity is controlled and managed by the Trustees.
Risk Management
The Trustees examines the major risks that the Church faces each financial year when preparaing and updating the strategic plan. The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the Charity and are satisfied that systems and controls are in place to mitigate any impact that they may have on the charity.
Objectives and activities
The principal objectives of the Charity are for the benefit of the Public and:
The advancement of the Christian faith for the benefit of the general public in accordance with the Schemes of the Union of United Reformed Church.
Achievements and performance
Streatham United Reformed Church has approximately 48 members, all with their own individual spiritual needs and the Church charitable funds are used to advance the spiritual, educational, recreational and cultural opportunities to the members and the general public.
Financial review
The attached financial statement shows the current state of financial affairs, which the Trustees consider to be satisfactory. The net incoming resource for the year, which were mostly unrestricted funds, amounted to £13,399. This was added to the net reserve brought forward of £123,728. The total reserve carried forward is £137,127.
Tithes, offerings and letting income are the main sources of income.
Plans for future period
The policies and purposes of the Trust shall continue under the provisions of the Trust deed with regards to the public benefit.
Page 2
Streatham United Reformed Church Charity
Report of the trustees
for the year ended 31 December 2020
Statement of trustees' responsibilities
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).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity 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;
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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
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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 proper accounting records which 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 Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. 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
On behalf of the board
.................................
Ms Sarah Ohwee Amon (FCCA)
Trustee Date: ..... 17th October 2021 ................................
Page 3
Streatham United Reformed Church Charity
Independent examiner's report to the trustees on the unaudited financial statements of Streatham United Reformed Church Charity.
I report on the accounts of Streatham United Reformed Church Charity for the year ended 31 December 2018 set out on pages 2 to 10.
Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, as amended; to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the Act, as amended; and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(i) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep proper accounting records in accordance with section 41 of the Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Fayonia Minott
Independent examiner
Top Floor Flat 289 Norwood Road London SE24 9AQ
Date:
Page 4
Streatham United Reformed Church Charity
Statement of financial activities
For the year ended 31 December 2020
| Unrestricted Restricted funds funds Notes £ £ Incoming resources Incoming resources from generating funds: Voluntary income 2 92,186 - Bank interest receivable 3 - 100 Total incoming resources 92,186 100 Resources expended Council tax 2,161 Church cleaning 1,860 Accountancy fee - Telephone and faxes 849 Water rates 1,013 Insurance and licences 8,365 Gas bill 7,371 General expenses - Repairs & maintenance 21,204 URC ministry and mission 20,844 Electricity bill 8,122 Hall letting expenses 2,061 Bank charges 355 Subscription 392 - - - - - - - - - - - Postage, printing and stationery - - - Gifts and donation 1,872 Ministers' fee and expenses 2,316 Depreciation of fixtures and fittings 418 Refreshment and hospitality (318) - - - Total resources expended 78,887 - Total funds brought forward 10,780 112,948 Total funds carried forward 24,079 113,048 - - - |
2020 Total £ 92,186 100 92,286 2,161 1,860 - 849 1,013 8,365 7,371 - 21,204 20,844 8,122 2,061 355 392 - 1,872 2,316 418 (318) 78,887 123,728 137,127 |
2019 Total £ 58,832 226 |
|---|---|---|
| 59,058 | ||
| 2,079 9,788 3,150 820 831 6,907 6,257 448 7,514 22,263 10,446 - - 450 25 390 1,079 530 773 |
||
| 73,750 | ||
| 138,420 | ||
| 123,728 |
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 7 to 10 form an integral part of these financial statements.
Page 5
Streatham United Reformed Church Charity
Balance sheet
as at 31 December 2020
| 2020 Notes £ £ Fixed assets Tangible assets 5 1,616 Current assets Cash at bank and in hand 137 311 137,311 Creditors: amounts falling due within one year 6 ) (1,800 Net current assets 137,127 Net assets 137,127 Funds 7 Restricted income funds 113,048 Unrestricted income funds 24,079 Total funds 137,127 The financial statements were approved by the trustees on ...................................................................... behalf by Mr Clement Tagoe Ms Sarah Ohwee Amon (FCCA) Trustee Trustee 17th October 2021 |
2019 £ £ 2,034 123,494 123,494 (1,800) 121.694 123,728 112,948 10,780 123,728 .......... and signed on its |
|---|---|
The notes on pages 7 to 10 form an integral part of these financial statements.
Page 6
Streatham United Reformed Church Charity
Notes to financial statements
for the year ended 31 December 2020
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 1993.
1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of donations, offerings and tithes and is included in full in the statement of financial activities when receivable.
Income from investments is included in the year in which it is receivable.
1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
1.4. Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred.
1.5. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Fixtures, fittings and equipment 20% reducing balance method
Page 7
Streatham United Reformed Church Charity
Notes to financial statements
for the year ended 31 December 2020
2. Voluntary income
| Voluntary income | |||
|---|---|---|---|
| Unrestricted | 2020 | 2019 | |
| funds | Total | Total | |
| £ | £ | £ | |
| Donations | 28,889 | 34,067 | 34,067 |
| Hall letting | 63,297 | 24,765 | 24,765 |
| Other donations | - | - | - |
| 92,186 | 58,832 | 58,832 |
3. Investment income
Bank interest receivable
| Restricted funds £ 100 100 |
2020 Total £ 100 100 |
2019 Total £ 226 |
|---|---|---|
| 226 |
4. Employees
Employment costs
No salaries or wages have been paid to employees, including the trustees, during the year.
Page 8
Streatham United Reformed Church Charity
Notes to financial statements
for the year ended 31 December 2020
| Fixtures, 5. Tangible fixed assets fittings and equipment £ 7,009 4,974 418 5,393 1,616 Cost At 1 January 2020and At 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2020 Net book values At 31 December 2020 At 31 December 2019 2,034 6. Creditors: amounts falling due within one year 2020 £ Accruals and deferred income 1,800 7. Analysis of net assets between funds Unrestricted Restricted funds funds £ £ 1,616 24,263 113,048 - Fund balances at 31 December 2020as represented by: Tangible fixed assets Current assets Current liabilities ) (1,800 - 24,079 113,048 |
Total £ 7,009 4,974 418 5,393 1,616 2,034 2019 £ 1,800 Total funds £ 1,616 137,311 ) (1,800 137,127 |
||
|---|---|---|---|
Page 9
Streatham United Reformed Church Charity
Notes to financial statements
for the year ended 31 December 2020
| 8. | Unrestricted funds | At | At | |||
|---|---|---|---|---|---|---|
| 1 | January | Incoming | **Outgoing ** | 31 December | ||
| 2020 | resources | resources | 2020 | |||
| £ | £ | £ | £ | |||
| General funds | (93,832) | 28,889 | (76,826) (141,769) |
|||
| Designated Funds - Property Account | 104,612 | 63,297 | 165,848 (2,061) |
|||
| 10,780 | 92,186 | (78,887) 24,079 |
Purposes of unrestricted funds
The unrestricted funds of the Trust are expendable at the discretion of the Trustees in furtherance of the objectives of the charity.
| 9. Restricted funds 1 Restricted Funds- Capital Reserve Account |
At At January Incoming 31 December 2020 resources 2020 £ £ £ 112,848 100 113,048 |
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