Charity number: 1139310
Streatham United Reformed Church Charity
Trustees' report and financial statements for
the year ended 31 December 2021
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) (died September 2021) 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 2021
The trustees present their report and the financial statements for the year ended 31 December 2021. 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 preparing 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 45 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 £8,666. This was added to the net reserve brought forward of £137,127. The total reserve carried forward is £145,793.
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 2021
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: ..... 30th December 2022 ................................
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 2021 set out on pages 2 to 10.
Respective responsibilities of trustees and independent examiner
The church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act).
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions of the Charity Commissioners. An examination includes a review of the accounting records kept by the church 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 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination of the church accounts, nothing came to my attention which gave me cause to believe otherwise than that the accounts accord with the accounting records of the church, and that those records satisfied the requirements of the Act. I am not aware of any matter to which 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: 09.12.2022
Page 4
Streatham United Reformed Church Charity
Statement of financial activities
For the year ended 31 December 2021
| Unrestricted Restricted funds funds Notes £ £ Incoming resources Incoming resources from generating funds: Voluntary income 2 75,825 - Bank interest receivable 3 - 12 Total incoming resources 75,825 12 Resources expended Council tax 2,286 Church cleaning 1,053 Accountancy fee 600 Telephone and faxes 918 Water rates (609) Insurance and licences 8,219 Gas bill 7,823 General expenses 365 Repairs & maintenance 13,352 URC ministry and mission 20,844 Electricity bill 8,499 Hall letting expenses 1,050 Bank charges - Subscription 436 - - - - - - - Postage, printing and stationery - - - Gifts and donation 10 Ministers' fee and expenses 1,995 Depreciation of fixtures and fittings 332 Refreshment and hospitality - - - - Total resources expended 67,172 - Total funds brought forward 24,079 113,048 Total funds carried forward 32,733 113,060 - - - - - - |
2021 Total £ 75,825 12 75,837 2,286 1,053 600 918 (609) 8,219 7,823 365 13,352 20,844 8,499 1,050 - 436 - 10 1,995 332 - 67,172 137,127 145,793 |
2021 Total £ 92,186 100 |
|---|---|---|
| 92,286 | ||
| 2,161 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 | ||
| 123,728 | ||
| 137,127 |
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 2021
| 2021 Notes £ £ Fixed assets Tangible assets 5 1,285 Current assets Cash at bank and in hand 147,508 147,508 Creditors: amounts falling due within one year 6 (3,000) Net current assets 144,508 Net assets 145,793 Funds 7 Restricted income funds 113,060 Unrestricted income funds 32,733 Total funds 145,793 The financial statements were approved by the trustees on ...................................................................... behalf by Mr Clement Tagoe Ms Sarah Ohwee Amon (FCCA) Trustee Trustee 30thDecember 2022 |
2020 £ £ 1,616 137,311 137,311 (1,800) 135,511 137,127 113,048 24,079 137,127 .......... 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 2021
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 2021
2. Voluntary income
| Voluntary income | |||
|---|---|---|---|
| Unrestricted | 2021 | 2020 | |
| funds | Total | Total | |
| £ | £ | £ | |
| Donations | 27,915 | 27,915 | 28,889 |
| Hall letting | 27,089 | 27,089 | 63,297 |
| Other donations | 20,821 | 20,821 | - |
| 75,825 | 75,825 | 92,186 |
3. Investment income
| Investment income | ||
|---|---|---|
| Restricted funds £ Bank interest receivable 12 12 |
2021 Total £ 12 12 |
2020 Total £ 100 |
| 100 |
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 2021
| Fixtures, 5. Tangible fixed assets fittings and equipment £ 7,009 5,393 332 5,724 1,285 Cost At 1 January2021and At 31 December2021 Depreciation At 1 January 2021 Charge for the year At 31 December 2021 Net book values At 31 December 2021 At 31 December 2020 1,616 6. Creditors: amounts falling due within one year 2021 £ Accruals and deferred income 3,000 7. Analysis of net assets between funds Unrestricted Restricted funds funds £ £ 1,285 34,448 113,060 - Fund balances at 31 December 2021as represented by: Tangible fixed assets Current assets Current liabilities (3,000) - 32,733 113,060 |
Total £ 7,009 5,393 332 5,724 1,285 1,616 2020 £ 1,800 Total funds £ 1,285 147,508 (3,000) 145,793 |
||
|---|---|---|---|
Page 9
Streatham United Reformed Church Charity
Notes to financial statements
for the year ended 31 December 2021
| Unrestricted funds | At | At | |||
|---|---|---|---|---|---|
| 1 | January | Incoming | **Outgoing ** | 31 December | |
| 2021 | resources | resources | 2021 | ||
| £ | £ | £ | £ | ||
| General funds | (141,769) | 57,736 | (66,121) (148,622) |
||
| Designated Funds - Property Account | 165,848 | 18,089 | 182,887 (1,050) |
||
| 24,079 | 75,825 | (67,171) 32,733 |
8. Unrestricted funds
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.
| Restricted funds 1 Restricted Funds- Capital Reserve Account |
At At January Incoming 31 December 2021 resources 2021 £ £ £ 113,048 12 113,060 |
|---|---|
9. Restricted funds
Page 10