Company Limited by Guarantee
Charity Registration Number: 1152939 Company Registration Number: 08499311
Annual Report and Financial Statements
For the year ended 31 March 2021
Simply Churches Chartered Accountants
17 Heathville Road London N19 3AL
WALTHAM FOREST YOUTH FOR CHRIST
Annual Report and Financial Statements For the year ended 31 March 2021 Contents
| Page | |
|---|---|
| Legal and Administrative Information | 2 |
| Annual Report of the Trustees | 3 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 |
1
WALTHAM FOREST YOUTH FOR CHRIST
Legal & Administrative Information For the year ended 31 March 2021
Charity Name
Waltham Forest Youth for Christ
Charity Registration 1152939. The Charity was registered with the Charity Commission on 18 July 2013.
Company Registration 08499311. The company was incorporated on 22 April 2013. Principal Address 149 Canterbury Road, Leyton, London E10 6EH
Governing Document Memorandum and Articles of Association dated 22 April 2013
Objectives
-
Advance the Christian faith for the benefit of young people, in accordance with the statement of faith, throughout the world and in particular (but without prejudice to the generality of the foregoing) in Waltham Forest and its environs.
-
Demonstrate, promote and encourage positive Christian living and values to young people.
-
Advance the education of children and young people through a variety of work in schools, colleges and other educational establishments; as well as other youth provision and elsewhere in the community to develop their physical, mental and spiritual capacities. This will be in order that they may grow to full maturity as individuals and that their condition of life may be improved.
Trustees The Trustees who served during the year or who were serving at the date of this report were:
Amarh Armartey To July 2021 Andrea Dans To April 2021 Rodney McSweeney Deputy Designated Safeguarding Officer Wendy McSweeney Chair Gemma Miller From September 2021 Dyon Monroe-Robinson Kovalan Paramanantham From June 2021 Elsa Parris-Dormer Monica Saunders From July 2021 John Stacey Lois Straker Sean Walter-Browne To March 2021 Staff Team Tracy Smith Centre Leader to February 2021 Melody Ayandokun Youth & Schools Worker to August 2020 Ann Dunn Office Manager Key Management Those in charge of directing, controlling, running and operating the Charity on a day to day Personnel basis are the Managing Trustees and the Centre Leader. Bankers HSBC Bank plc 192 Hoe Street London E17 4QN Independent Examiner John Helm ACA Simply Churches Limited 17 Heathville Road London N19 3AL
2
WALTHAM FOREST YOUTH FOR CHRIST
Report of the Trustees For the year ended 31 March 2021
The Trustees submit their report and the financial statements of Waltham Forest Youth for Christ (“the Charity”) for the year ended 31 March 2021. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report. This report also constitutes a directors’ report required by section 415 of the Companies Act 2006 as all Trustees of a charity company are directors.
1. Structure, Governance & Management
1.1 Trustees
Our Board of Trustees has a range of relevant experience and skills and is drawn from the business, education and Christian world. We aim to have twelve Board members and currently have eight. We continually seek new Trustees who will be beneficial in strengthening our knowledge base and expertise in order to develop and strengthen the work of the Charity.
Trustees have an induction programme as well as an information pack covering the responsibilities and role of Trustees, the structure of the Charity and working as a team. In view of the nature of our Charity, Trustees are required to complete a DBS check as well as supply a reference from their church.
The full Board of Trustees meets ten times a year, in addition to the AGM, to ensure legal and operational requirements of the Charity are met, as wel as to establish and review what the Board wants to achieve. From the March Covid-19 lockdown to June, the Board operated by telephone and email and then met from July 2020 to March 2021 by Zoom. The Board appoints a Centre Leader to oversee the day to day running of the Charity. The Board receives and considers monthly finance reports from the Treasurer and this remained in place throughout the period of this report. In normal times work reports from the Centre Leader and staff are received at these meetings. During the period March to August 2020, reports were compiled by the Chair and other Board members on issues such as contact with supporters, Furlough regulations and Covid-19 policies. The Centre Leader is accountable to the Board for the use of finances and operational decisions. The Centre Leader is the Designated Safeguarding Officer and there is a designated Board member for safeguarding.
1.2 Recruitment and appointment of Trustees on to the board
Trustees are nominated and appointed by members of the Charity at the Annual General Meeting (AGM) to hold office for three years. After this time they may seek re-election.
Trustees may also be co-opted by unanimous vote of the Board in which case they normally seek election at the next AGM.
1.3 Organisational Structure
As well as the Board of Trustees, there is a Council of Reference (COR) whose role is to provide spiritual advice and particular input regarding our contact with churches in the borough. Membership of this group is drawn from those in Christian leadership either within churches or other organisations. The COR members are appointed by the Board and elect their own Chair.
We are a chartered centre of British Youth for Christ to whom we give donations and who provide training and support for our Charity.
During 2020-2021 our staff consisted of a Centre Leader, Tracey Smith, as part time 60% Centre Leader and Melody Ayandokun as Youth Worker for 12 hours a week. We appointed our part-time Administrator, Ann Dunn to the part time post of Office Manager in March 2020. Her revised job description was headlined: to manage the office and Office Procedure and to facilitate the smooth running of the organisation. This clarifies the role she was actually undertaking. She, in addition, took on responsibility for inputting financial information into our finance software.
3
WALTHAM FOREST YOUTH FOR CHRIST
Report of the Trustees For the year ended 31 March 2021
At the end of August 2020, Melody Ayandokun, left us to pursue further qualifications and experience in church based youthwork. Tracey Smith returned to work in September 2020 but due to personal circumstances decided that she needed to resign in December 2020. She worked on an agreed range of tasks including updating social media and producing the supporters’ newsletter until her three months’ notice period expired. Our Office Manager, Ann Dunn, returned to work in September 2020. We are always very appreciative of the support of our volunteers. During this period Sheila Wright assisted us greatly in preparing our newsletters for supporters.
1.4 Risk Management
The Trustees acknowledge that they have a responsibility for the identification and proper management of risks faced by the Charity in achieving its primary aims. The Trustees have therefore assessed the major risks to which the Charity is exposed, in particular those relating to the specific operational areas of the Charity and its finances. The Trustees believe that, by monitoring reserve levels, by developing controls over key financial systems, and by having the operational risks faced by the Charity reviewed, they have established systems and procedures to mitigate those risks.
The Trustees also sought to manage the challenge to our frontline work during the period of Lockdown, when our staff was put on furlough from 24[th] April 2020. By using the leeway in the Covid-19 furlough regulations, staff attended online courses on: -
Session covered: Social Media, Partner Development Forum, RSE Education In Schools, Power the Fight (re Gangs) Gang Exiting Strategies & Working with Local Authorities (this was also attended by one of our volunteers),Young People and their Mental Health Training (a certificate course attended by Centre Leader and Youth Worker), British YFC Annual Conference on looking at future strategy(some Trustees attended this), and British Youth for Christ National Focus Day to keep local centres updated (attended by trustees and staff). Information on the training sessions was recorded by staff in reports, circulated to the Board and filed for future use.
2. Activities & Strategies
All our events are offered freely to those who wish to use them. We actively encourage young people to investigate their spirituality along with promoting the morals and ethics of the Christian faith. We believe that there is a substantial public benefit as the young people are encouraged to live responsible lives and contribute positively to society.
In planning the activities, the Trustees have had regard to the guidance on public benefit issued by the Charity Commission. The planned activities were considerably curtailed due to lockdown, furlough and lack of staff.
The activities include: School Clubs – providing young people with a safe space to positively interact with each other and WFYFC workers and volunteers. Where they are able to engage in informative and fun discussions, which give us the opportunity to teach them life skills based on biblical principles and give the young people the opportunity to know Jesus on a level that they can relate to.
3. Achievements & Performance
The focus of our work over the year 2020/21 was initially to engage with the young people we had engaged with, offering them support during a stressful period. As the staff advised us that the uptake of this was limited, we made the difficult decision to furlough staff.
Youth Plus Newsletter: We produced two editions of our Youth+ magazine in Easter and autumn to keep our members and supporters apprised of the training programme giving them reports that staff had written on topics such as Gang Training. We also offered topics to enable them to get involved in praying for young people at this time of crisis and included other research items of current research on young people. The autumn edition invited our supporters to contact us to share their own concerns and needs for the Trustees to pray for.
4
WALTHAM FOREST YOUTH FOR CHRIST
Report of the Trustees For the year ended 31 March 2021
4. Financial Review
Funding for the Charity comes mainly from donations from churches and individuals.
4.1 Financial Activity and Financial Position
The Statement of Financial Activities and Balance Sheet can be found on pages 8 and 9 respectively.
The Charity finished the year with total net assets of £53,782 (2020: £62,772). This is £8,990 lower (2020: £26,630 lower) than the equivalent net assets of the Charity at the beginning of the year. The Trustees are aware that with full staffing our ongoing expenditure is greater than our income and steps continue to be taken to increase income and to control our expenditure to ensure that we “live within our means”.
4.2 Reserves Policy
The Trustees have examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. The Trustees consider that, given the nature of the Charity’s funding, free reserves should be £15,000, equivalent to approximately 3 months’ worth of unrestricted routine expenditure, in order to provide sufficient flexibility to cover temporary shortfalls in incoming resource. This should allow the Charity time to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 March 2021 the Charity had net free reserves of £51,919 (2020: £60,798) (equivalent to net current assets).
5. Plans for Future Periods
-
To assess funding for new staff.
-
To look at overall vision.
-
To create a profile for staff that will match the needs of the centre.
-
To create an interview process to allow candidates to demonstrate their suitability for matching the centre’s identified needs.
-
To create a document of priorities for establishing the future work, in order to reconnect with churches, schools and other relevant organisations and groups.
-
To advertise, interview and appoint new staff.
-
To implement, with new appointee(s) strategies to rebuild the work.
-
To maintain contact with our supporters.
6. Responsibilities of Trustees for the Financial Statements
The Trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period.
In preparing those financial statements, the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles of the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the Charity will continue.
5
WALTHAM FOREST YOUTH FOR CHRIST
Report of the Trustees For the year ended 31 March 2021
The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. The Trustees 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 irregularities. The Trustees are responsible for the maintenance and integrity of the Charity and financial information included in the Charity’s website.
7. Approval
The report of the Trustees was approved by the Trustees on Wednesday 21[st] November 2021 and signed on their behalf by:
Wendy McSweeney Chair
6
WALTHAM FOREST YOUTH FOR CHRIST
Report of the Independent Examiner to the Trustees For the year ended 31 March 2021
I report on the accounts of the Waltham Youth for Christ for the year ended 31 March 2021, set out on pages 8 to 15.
Respective responsibilities of trustees and examiner
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (“the 2011 Act”) and that an independent examination is needed. The Charity is required by company law to prepare accrued accounts and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
Having satisfied myself that the Charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of independent examiner's report
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
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
John Helm ACA
xxxxxxxx 2021
7
WALTHAM FOREST YOUTH FOR CHRIST
Statement of Financial Activities (incorporating the income and expenditure account) For the year ended 31 March 2021
| Note Unrestricted Funds 2021 £ Income from: 2 Donations and legacies 30,485 Charitable activities Investments 138 Total Income 30,623 Expenditure on: Charitable activities 3 40,098 Total Expenditure 40,098 Net gains/(losses) on investments 485 Net income before tax (8,990) Tax payable 4 - Net (expenditure)/income after tax (8,990) Net movement in funds (8,990) Total funds brought forward 62,772 Total funds carried forward 53,782 |
Restricted Funds 2021 £ - - 0 - 0 - 0 - 0 0 - 0 |
Total 2021 £ 30,485 138 30,623 40,098 40,098 485 (8,990) - (8,990) (8,990) 62,772 53,782 |
Unrestricted Funds 2020 £ 21,657 - 519 22,176 48,771 48,771 (35) (26,630) - (26,630) (26,630) 89,402 62,772 |
Restricted Funds 2020 £ - - - 0 - 0 - 0 - 0 0 - 0 |
Total 2020 £ 21,657 - 519 22,176 48,771 48,771 (35) (26,630) - (26,630) (26,630) 89,402 62,772 |
|
|---|---|---|---|---|---|---|
8
WALTHAM FOREST YOUTH FOR CHRIST
Balance Sheet As at 31 March 2021
| Note Fixed Assets Tangible Assets 5 Current Assets Investments 6 Debtors 7 Payments in Advance Cash at Bank and in Hand Creditors - Amounts Falling Due Within One Year 8 Net Current Assets Net Assets Represented by: Unrestricted Income Funds Total Funds |
Unrestricted Funds 2021 £ 1,863 1,863 7,749 289 - 44,936 52,974 1,055 51,919 53,782 53,782 53,782 |
Restricted Funds 2021 £ - 0 - - - - 0 - 0 0 - 0 |
Total 2021 £ 1,863 1,863 7,749 289 - 44,936 52,974 1,055 51,919 53,782 53,782 53,782 |
Total 2020 £ 1,974 1,974 7,166 562 - 54,763 62,491 1,693 60,798 62,772 62,772 62,772 |
||
|---|---|---|---|---|---|---|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006. The company is entitled to exemption from audit under section 480 of the Companies Act 2006 for the year ended 31 March 2021 and no notice requiring an audit has been deposited under section 476.
The Trustees acknowledge their responsibilities for:
-
ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006
-
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial period and of its profit or loss for the financial period 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 is applicable to the company.
The financial statements were approved by the Trustees on Wednesday 21[st] November 2021 and signed on their behalf by:
John Stacey Trustee
Company Registration Number: 08499311 Charity Registration Number 1152939
9
WALTHAM FOREST YOUTH FOR CHRIST
Notes to the Financial Statements For the year ended 31 March 2021
1. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of accounting
The financial statements have been prepared under the Companies Act 2006, the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP 2015 (FRS 102)) and Financial Reporting Standard 102 (FRS 102).
The Charity meets the definition of a public benefit entity under FRS 102.
The Charity has availed itself of the Companies Act 2006 and adopted the Companies Act format to reflect the special nature of the Charity’s activities.
Going Concern
The Charity is a going concern. Taking into account reserves and anticipated recurring income, the Trustees are confident that the Charity remains a going concern for at least twelve months from the date of approval of these accounts.
Income recognition
Voluntary income and donations (including legacies) are accounted for once the Charity has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.
No amounts have been included in the financial statements for services donated by volunteers.
Expenditure recognition
Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The Charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.
Charitable expenditure includes those costs in fulfilling the Charity’s principal objects, as outlined in the Report of the Trustees. These include governance costs which are incurred in connection with the administration of the Charity and compliance with constitutional and statutory requirements, which tasks are undertaken mainly by the Trustees. Governance costs also include costs relating to statutory independent examination and legal fees.
Taxation
The Company is a Registered Charity and is therefore exempt from taxation under the Income and Corporation Taxes Acts.
Tangible fixed assets and depreciation
Tangible fixed assets are included in the balance sheet at cost. Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:
Equipment, fixtures and fittings: 25% on cost
Current Asset Investment
The current asset investment is stated at market value.
10
WALTHAM FOREST YOUTH FOR CHRIST
Notes to the Financial Statements For the year ended 31 March 2021
1. Accounting Policies (continued)
Funds Structure
Unrestricted income comprises those funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for specific purposes. There are currently no restricted funds.
2. Income
| Unrestricted Funds 2021 £ Restricted Funds 2021 £ Donations & legacies Donations 18,149 - Gift Aid 2,315 - Grants from Waltham Forest YFC Trust 295 - Grants – Job Retention Scheme 9,726 - 30,485 0 Investments Bank Interest 41 - Dividends 97 - 138 0 30,623 0 |
Total 2021 £ 18,149 2,315 295 9,726 30,485 41 97 138 30,623 |
Total 2020 £ 18,667 2,475 515 - 21,657 389 130 519 22,176 |
||
|---|---|---|---|---|
11
WALTHAM FOREST YOUTH FOR CHRIST
Notes to the Financial Statements For the year ended 31 March 2021
3. Expenditure on Charitable Activities
| Unrestricted Funds 2021 £ Staff costs Gross salaries & Employers National Insurance 27,375 Interview expenses 0 Car allowance 0 27,375 Operating Costs Conferences & training 74 Promotional Pens 0 Volunteer Event 0 Christmas Celebration 0 6th Form College 0 Prayer Breakfast 25 BYFC Tithe 1,846 1,945 Office costs Printing, stationery & postage 883 Rent 4,488 Insurance 706 Telephone 1,212 Computer maintenance 1,161 Computer Equipment 0 Depreciation 840 Finance Software 277 Sundry 280 9,847 Governance Printing and stationery 0 Independent Examination 600 AGM 0 Director’s meetings and expenses 331 931 40,098 |
Unrestricted Funds 2021 £ Staff costs Gross salaries & Employers National Insurance 27,375 Interview expenses 0 Car allowance 0 27,375 Operating Costs Conferences & training 74 Promotional Pens 0 Volunteer Event 0 Christmas Celebration 0 6th Form College 0 Prayer Breakfast 25 BYFC Tithe 1,846 1,945 Office costs Printing, stationery & postage 883 Rent 4,488 Insurance 706 Telephone 1,212 Computer maintenance 1,161 Computer Equipment 0 Depreciation 840 Finance Software 277 Sundry 280 9,847 Governance Printing and stationery 0 Independent Examination 600 AGM 0 Director’s meetings and expenses 331 931 40,098 |
Restricted Funds 2021 £ - - - |
Total 2021 £ |
Total 2021 £ |
Total 2020 £ 31,129 70 264 |
|
|---|---|---|---|---|---|---|
| 27,375 | 0 | 31,463 | ||||
| 74 | - | 1,033 | ||||
| 0 | - | 343 | ||||
| 0 | - | 1,127 | ||||
| 0 | - | 113 | ||||
| 0 | - | 331 | ||||
| 25 | - | 425 | ||||
| 1,846 | - | 1,918 | ||||
| 1,945 | 0 | 5,290 | ||||
| 883 | - | 1,850 | ||||
| 4,488 | - | 4,488 | ||||
| 706 | - | 702 | ||||
| 1,212 | - | 1,194 | ||||
| 1,161 | - | 728 | ||||
| 0 | - | 103 | ||||
| 840 | - | 658 | ||||
| 277 | - | 279 | ||||
| 280 | - | 498 | ||||
| 9,847 | 0 | 10,500 | ||||
| 0 | - | 150 | ||||
| 600 | - | 600 | ||||
| 0 | - | 105 | ||||
| 331 | - | 663 | ||||
| 931 | 0 | 1,518 | ||||
| 40,098 | 0 | 48,771 | ||||
12
WALTHAM FOREST YOUTH FOR CHRIST
Notes to the Financial Statements For the year ended 31 March 2021
3. Expenditure on Charitable Activities (continued)
Staff costs
Included within Expenditure on Charitable activities are the following staff costs of two employed individuals:
| Gross salary Employers National Insurance Employment Allowance Covid Statutory Sick Pay Reimbursed Pension costs Of which the following salaries and pension contributions were in relation to Key Management Personnel: Gross salaries Pension costs |
2021 £ 26,847 998 (998) (192) 720 27,375 14,257 256 14,513 |
2020 £ 30,327 1,287 (1,287) - 802 31,129 17,400 338 17,738 |
|
|---|---|---|---|
No (2020: 1) Trustees received reimbursement of expenses for travel this year (2020: £647). One trustee was reimbursed £331 for the purchase of Covid protection for the office.
4. Taxation
As a charity, Waltham Forest Youth For Christ is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the Charity.
13
WALTHAM FOREST YOUTH FOR CHRIST
Notes to the Financial Statements For the year ended 31 March 2021
5. Tangible Fixed Assets
| Cost At 1 April 2020 Additions Disposals At 31 March 2021 Depreciation At 1 April 2020 Charge For Period Disposals At 31 March 2021 Net Book Value At 31 March 2021 At 31 March 2020 |
Fixtures, | Fixtures, |
|---|---|---|
| fittings & | ||
| equipment | ||
| £ | ||
| 2,632 | ||
| 730 | ||
| - | ||
| 3,362 | ||
| 658 | ||
| 841 | ||
| - | ||
| 1499 | ||
| 1,863 | ||
| 1,974 | ||
6. Current Asset Investment
| Market Value at 1st April Dividends reinvested Valuation gain/(loss) for the year Market valuation at 31 March |
2021 £ 7,167 97 485 7,749 |
2020 £ 7,072 130 (35) 7,167 |
|
|---|---|---|---|
The investment is represented by a holding in Henderson Sterling Bond Unit Trust.
7. Debtors
| Gift Aid recoverable Waltham Forest Youth for Christ Charitable Trust – Gifts receivable Petty Cash Advance |
2021 £ |
|
|---|---|---|
14
WALTHAM FOREST YOUTH FOR CHRIST
Notes to the Financial Statements For the year ended 31 March 2021
8. Creditors - Amounts Falling Due Within One Year
Accruals
----- Start of picture text -----
2021 2020
£ £
1,055 1,693
----- End of picture text -----
9. Related Party Transactions
The Charity has several Trustees in common with Waltham Forest Youth for Christ (Charity Registration no 278551). The Charity received grants totalling £295 (2020: £515) from Waltham Forest Youth for Christ during the year as part of the ongoing transfer of assets and operations from the old charity.
Sean Walter-Browne is also a Trustee of the Cornerstone Church and. John Stacey continues to give support on financial matters to that charity. The Charity rents space from the Cornerstone Church. The amounts paid in 2020/21 totalled £4,488 (2019/20: £4,488). The Cornerstone Church made a gift of £2,000 to Waltham Forest Youth for Christ (£2,000 in 2019/20).
The Trustees made aggregate unrestricted donations of £2,310 (2020: £2,280) to the Charity during the year.
10. Members Funds
The company is a private company limited by guarantee with no share capital. The liability of the members is limited to £10 in the event of a winding up.
15