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South Central Gospel Partnership
Report and Accounts
year ended 31 July 2021
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1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
SOUTH CENTRAL GOSPEL PARTNERSHIP
COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2021
Directors/Trustees
Piers Bickersteth (until 16th February 2022) Philip Butcher (from 16th February 2022) Peter Comont Elisabeth Ling (from 16th February 2022) James Muldoon Thomas Putt (from 16th February 2022) Vaughan Roberts (until 9th April 2021)
Andrew Menary
Company Secretary Andrew Menary Director of Training Matthew Searles (to March 2022) Governing Document Memorandum and Articles of Association dated 31 July 2012 Company Registration Number 8163369 Charity Registration Number 1149625 Principal Address 2 Roger Bacon Lane Oxford OX1 1QE Registered Office 2 Roger Bacon Lane Oxford OX1 1QE
Independent Examiner
Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB
Bankers
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
| 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 | 8-10 |
Page 1
SOUTH CENTRAL GOSPEL PARTNERSHIP
TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2021
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.
Objects of the charity
Our Vision Statement:
The South Central Gospel Partnership is a group of evangelical churches in the south central region of England working together to promote the gospel of Christ. This includes strengthening and planting churches and training leaders.
Our purpose as set out in the objects contained within the company’s memorandum of association is, "To advance the Christian faith for the benefit of the public, and in accordance with our doctrinal basis, predominately but not exclusively within the loosely defined area of the South Central region of England. This includes:
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Strengthening and planting churches,
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Training and supporting existing and potential leaders,
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All other things that might promote the gospel of Christ."
Our current primary means of achieving this purpose is through running bible training courses and conferences that enable people to better understand, apply and teach the Bible. These courses and conferences are open to all who wish to attend and are promoted widely across churches in the South Central region.
Provision of our conferences and training relies heavily upon the sacrificial contribution of volunteers to teach and lead, for which we remain hugely grateful. It also depends upon the enthusiastic participation of all those attending.
The trustees have reviewed all their activities for the past year and those planned. They consider, in regard to the guidance issued by the Charity Commission, that they continue to offer public benefit, both through their wide availability and the impact on society of those attending our training through their growth in Christian maturity and being able to pass on biblical truth.
During the past year the charity has not made any grants, but such may be considered by the trustees in the future provided they are in furtherance of our objectives.
Summary of the charity's main activities and achievements
To further the above objects and vision, the charity's main activities and achievements were as follows:
The past year for the Ministry Training Course (MTC) was very successful, despite or because of COVID, with record numbers attending. Over 125 students students from over 30 different churches enrolled in the course or returned for their second year, seeking to become better equipped to understand and teach the Bible in different contexts. We have students from all walks of life, from teenagers to those in retirement. Due to the restrictions arising from COVID we moved entirely online for the year, which was greatly appreciated and allowed some students to join from further afield. COVID restrictions and uncertainly meant we were not able to run any one-day conferences during the year. The links between members of the partnership, the visiting and preaching work of the Training Director, and fellowship between students has enabled the partnership to be a source of mutual encouragement and support to many churches and ministers facing the pressures created through the pandemic.
The goal is never to replicate what churches are doing, nor pull people away from church events and commitments, but rather to provide events that no one church might be able to support, but for which there may be a need across a number of churches.
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SOUTH CENTRAL GOSPEL PARTNERSHIP
TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2021
We are indebted to and hugely grateful for the many who have given of their time to speak and to lead small groups over the past year, without whom we could not operate.
Structure, Governance and Management
The organisation is a charitable company limited by guarantee, incorporated in England on 31st July 2012 and registered as a charity on 6th November 2012. The company was established under a Memorandum of Association and is governed by its Articles of Association, which together established the objects, powers and governance of the charitable company. These articles have not been amended since incorporation. In the event of the company being wound up members are required to contribute an amount not exceeding £10 each.
In addition to the founding nine subscribers, membership of the charitable company is open to other individuals and organisations who apply, signify their assent to the doctrinal basis (as established with the governing documents), and are approved by the directors. There is only one class of membership.
The founding subscriber members appointed four individuals to be directors and trustees, of which one resigned during the year and another after the year end. The trustees welcome three new trustees recently appointed. Director Trustees are appointed by the members, must themselves be members, and must assent to the doctrinal basis.
On a day to day basis the charitable company operates through its Training Director, who is not a trustee or member. He oversees the training programmes and development of the charity according to the guidance of the trustees and the annual meeting of the members.
During the year the trustees were particularly concerned to ensure that their Safeguarding policies, procedures and practices were of the very best quality, particularly recognising an increased understanding of the needs and potential challenges of adult training. They appointed James Muldoon as their lead Trustee for Safeguarding, agreed and published a Statement on Adult Safeguarding, communicated with students and established an additional safeguarding contact. We will keep these policies and procedures under regular review and as we look to protect from harm all those who come to us for training.
The charity is supported in prayer and action by a network of evangelical churches, ministers and individuals, many of whom are members, who hold to our doctrinal basis and wish to work together to promote the gospel of Christ.
Financial review
The charity had a very good year financially speaking, with the increase in MTC attendees translating into increased income. Our operating surplus was £16,018 (2020: £12,869) and total income rose by 6% (2021: £73,092, 2020: £68,667) We are exceedingly grateful for the generous donations we receive from churches and individuals, which in normal years are necessary to cover our costs. Costs rose by 2% to £57,074 (2020: £55,798).
Reserves policy
The Board of Directors have established a policy whereby free reserves (which the directors define as being unrestricted net current assets) held by the charity should be somewhere between £12,000 and £25,000 (i.e. between three to six months of expenditure) so that the charity could continue to operate if income falls short of expectations. At the year end the charity’s free reserves rose above this figure to £37,121. In the light of current uncertainty resulting from the pandemic, and also its possible impact on our donors' ability to give, we consider this a prudent level of reserves to maintain. Our budget for the coming year anticipates a small reduction in reserves.
Page 3
SOUTH CENTRAL GOSPEL PARTNERSHIP
TRUSTEES' ANNUAL REPORT (INCORPORATING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2021
Key risks and uncertainties
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
Plans for the future
Our main service will continue to be the weekly Ministry Training Course, where we hope to further broaden the recruiting base of churches that encourage attendance. Even though we are now meeting in-person we are also still making MTC training sessions available online and also providing a Thursday evening online small group.
Each year we make contact with more churches, and we hope that these relationships bear fruit in better networks between churches that, in addition to more people benefitting from our training, can lead to partnership in outreach to areas that are less well served by churches – for example by encouraging church planting.
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:
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select suitable accounting policies and 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 the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
- 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:
James Muldoon
Date: 202225th April
Page 4
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
SOUTH CENTRAL GOSPEL PARTNERSHIP ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021 on pages 6 to 10 following, which have been prepared on the basis of the accounting policies set out on page 8.
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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
Date: 25 April 2022
Stewardship 1 Lamb's Passage London EC1Y 8AB
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SOUTH CENTRAL GOSPEL PARTNERSHIP
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2021
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Other income Total income and endowments EXPENDITURE ON: Charitable activities 5 Other Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 12,467 60,625 - 73,092 57,074 - 57,074 16,018 - 16,018 21,102 37,120 |
Total Funds 2021 £ 12,467 60,625 - 73,092 57,074 - 57,074 16,018 - 16,018 21,102 37,120 |
Total Funds 2020 £ 24,399 44,268 - 68,667 55,798 - 55,798 12,869 - 12,869 8,233 21,102 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All of the charity’s income and expenditure in 2021 and 2020 was unrestricted and there are no brought forward, or carried forward, restricted fund balances.
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 8-10 form part of these accounts.
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SOUTH CENTRAL GOSPEL PARTNERSHIP
BALANCE SHEET
AS AT 31 JULY 2021
| Note FIXED ASSETS CURRENT ASSETS Debtors 7 Cash at bank and in hand 8 CREDITORS: Amounts falling due within one year 9 Net current assets / (liabilities) Total assets less current liabilities TOTAL NET ASSETS FUND BALANCES Unrestricted Funds General funds Restricted Funds |
Unrestricted Funds £ - - - 42,464 42,464 (5,343) 37,121 37,121 37,121 37,121 - 37,121 |
Restricted Funds £ - - - - - - - - - - - - |
Total Funds 2021 £ - - - 42,464 42,464 (5,343) 37,121 37,121 37,121 37,121 - 37,121 |
Total Funds 2020 £ - - - 55,742 55,742 (34,640) 21,102 21,102 21,102 21,102 - 21,102 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 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
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(a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 2022 and were signed on its behalf by:25th April
James Muldoon
The notes on page 8-10 form part of these accounts.
Company number: 8163369
Charity number: 1149625
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SOUTH CENTRAL GOSPEL PARTNERSHIP
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021
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 have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
b) Income
Income including any 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.
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 cost of raising funds is not significant and has not been separately disclosed.
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
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. We currently have no designated funds (comprising unrestricted funds that have been set aside by the trustees for particular purposes) nor any restricted funds (being donations that must be used in accordance with specific restrictions imposed by donors; this includes donations received from appeals for specific activities or projects).
- e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To date no expenditure has been incurred that needs to be capitalised.
f) 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.
g) 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.
- h) 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.
Page 8
SOUTH CENTRAL GOSPEL PARTNERSHIP
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021
3 Donations
| Donations of cash and similar Other grants receivable 4 Income from charitable activities Ministry Training Course Conferences Other Charitable Activities 5 Charitable expenditure a Costs incurred directly on specific activities Ministry Training Course Conferences Training Director b Costs incurred on support & administration Governance costs Independent examiner's fee Other Administrative Support Total expenditure |
2021 £ 12,467 - 12,467 2021 £ 60,625 - - 60,625 2021 £ 1,095 - 51,125 52,220 900 - 900 3,954 4,854 57,074 |
2020 £ 24,399 - 24,399 2020 £ 43,988 280 - 44,268 2020 £ 1,601 8 50,416 52,025 900 - 900 2,873 3,773 55,798 |
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6 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses
The charity’s key management comprise the trustees and the Director of Training. The charity reimburses St Ebbe’s PCC for the cost of them employing the Director of Training. The reimbursements payable for the year to 31 July 2021 amounted to £51,125 (2020: £50,416). In addition, from April 2021 we directly employed a part-time administrator, Mrs A Searles who is married to the Director of Training £857 (2020: £nil). No employment benefits were paid to the trustees, nor to any person closely connected to them, in either the current or preceding year. Except for the reimbursement of expenses incurred when acting as agent for the charity, no expenses were paid to (or for) the trustees.
Many of the charity’s activities are undertaken by volunteers.
7 Debtors
| Falling due within one year: Other debtors Prepayments and accrued income Total debtors |
2021 £ - - - |
2020 £ - - - |
|---|---|---|
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SOUTH CENTRAL GOSPEL PARTNERSHIP
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021
8 Cash at Bank and in Hand
| Cash at bank with immediate access itors: liabilities falling due within one year St Ebbe's PCC - Accruals Other Accruals |
2021 £ 42,464 42,464 2021 £ 4,443 900 5,343 |
2020 £ 55,742 55,742 2020 £ 33,226 1,414 34,640 |
|---|---|---|
9 Creditors: liabilities falling due within one year
10 Members
Each member of the company commits to contribute if the charity is wound up an amount of £10.
11 Events after the Balance Sheet date
The charity has continued to take took steps (in line with government advice) to help contain the outbreak of COVID-19. From September 2021 we returned to providing in-person training, subject to strict COVID protocols, but also continued to provide online training for those who felt more comfortable with this approach or were isolating.
Page 10