Stratford Church of Christ
Charity No. 1153326
Trustees' Report and Unaudited Accounts For the year ended 31 December 2022
B M Cooper & Co. Limited Chartered Certified Accountants
88 Wood Lane
Dagenham Essex RM9 5SL
Stratford Church of Christ Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
Page 1
Stratford Church of Christ Trustees Annual Report
The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1153326
Principal Office
2 Clare Court Aveley South Ockendon Essex RM15 4HY
Trustees
The following Trustees served during the year: E Adade-Boateng Kwaku Twumasi M Armstrong P Ntim-Adei
Accountants
B M Cooper & Co. Limited 88 Wood Lane Dagenham Essex RM9 5SL
OBJECTIVES AND ACTIVITIES
The charity's object are:-
- To advance the Christian religion in the United Kingdom for the benefit of the public - To work with other Churches of Christ locally and internationally to promote the gospel of Jesus Christ Various policies were adopted in furtherance of these objects during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake..
The trustees are grateful for the services freely rendered by the volunteers. May the Lord reward you richly.
ACHIEVEMENTS AND PERFORMANCE
We continue to help needy individuals who call on us for support both in kind and in cash. It is our prayer and hope that we are able to continually provide an avenue and an environment for people to establish and maintain friendship leading to the study of the holy bible.
We realised how our previous efforts have helped many to know the teachings of Christ thereby impacting on both their physical and spiritual lives. We hope to lunge even deeper and wider in the coming years. We believe that this will go a long way to cut down on the number of people involved in social vices.
Page 2
Stratford Church of Christ Trustees Annual Report
We believe that we have made good progress over the years. We plan reinforcing our strategies in order to make greater achievements in the coming years.
FINANCIAL REVIEW
The Statement of Financial Activities shows an income from the year of £71,983 (2021 - £44,649) and total expenditure of £31,736 (2021 - £27,194) leaving a net surplus for the year of £40,247 (2021 - £17,455). The net assets of the charity as at 31st December 2022 was £179,591 (2021 - £139,344).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level between three and six month's expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds my be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a Charitable incorporated Organisation (CIO). It was registered on 9th August 2013 and governed by foundation model constitution dated 9th August 2013.
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
..................................................... E Adade-Boateng Trustee 25 July 2023
Page 3
Stratford Church of Christ Independent Examiners Report
Independent Examiner's Report to the trustees of Stratford Church of Christ
I report to the trustees on my examination of the accounts of Stratford Church of Christ for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
........................................
Mr. B. M. Kalejaiye FCCA ACCA B M Cooper & Co. Limited 88 Wood Lane
Dagenham Essex RM9 5SL
25 July 2023
Page 4
Stratford Church of Christ Statement of Financial Activities For the year ended 31 December 2022
| Notes Income and endowments from: Donations and legacies 3 Other 4 Total Expenditure on: Charitable activities 5 Other 6 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 71,771 - |
Restricted funds 2022 £ - 212 |
Total funds 2022 £ 71,771 212 |
Total funds 2021 £ 44,637 12 |
|---|---|---|---|---|
| 71,771 12,392 19,344 |
212 - - |
71,983 12,392 19,344 |
44,649 25,558 1,636 |
|
| 31,736 - |
- - |
31,736 - |
27,194 - |
|
| 40,035 - |
212 - |
40,247 - |
17,455 - |
|
| 40,035 | 212 | 40,247 | 17,455 | |
| 40,035 43,838 |
212 95,506 |
40,247 139,344 |
17,455 121,889 |
|
| 83,873 | 95,718 | 179,591 | 139,344 |
Page 5
Stratford Church of Christ Balance Sheet At 31 December 2022
| Charity No. 1153326 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 8 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 9 Restricted income funds Unrestricted funds 9 General funds Reserves 9 Total funds |
2022 £ 180,251 180,251 (660) 179,591 179,591 179,591 179,591 95,718 95,718 83,873 83,873 179,591 |
2021 £ 141,144 |
|---|---|---|
| 141,144 (1,800) |
||
| 139,344 139,344 |
||
| 139,344 | ||
| 139,344 | ||
| 95,506 | ||
| 95,506 43,838 |
||
| 43,838 | ||
| 139,344 |
Approved by the trustees on 25 July 2023
And signed on their behalf by:
................................................... Kwaku Twumasi Trustee 25 July 2023
Page 6
Stratford Church of Christ Notes to the Accounts For the year ended 31 December 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
| Income | |
|---|---|
| Recognition of | Income is included in the Statement of Financial Activities (SoFA) when the charity |
| income | becomes entitled to, and virtually certain to receive, the income and the amount of |
| the income can be measured with sufficient reliability. | |
| Income with related | Where income has related expenditure the income and related expenditure is |
| expenditure | reported gross in the SoFA. |
| Donations and | Voluntary income received by way of grants, donations and gifts is included in the |
| legacies | the SoFA when receivable and only when the Charity has unconditional |
| entitlement to the income. | |
| Tax reclaims on | Income from tax reclaims is included in the SoFA at the same time as the |
| donations and gifts | gift/donation to which it relates. |
| Donated services | These are only included in income (with an equivalent amount in expenditure) |
| and facilities | where the benefit to the Charity is reasonably quantifiable, measurable and |
| material. | |
| Volunteer help | The value of any volunteer help received is not included in the accounts. |
| Investment income | This is included in the accounts when receivable. |
| Gains/(losses) on | This includes any gain or loss resulting from revaluing investments to market value |
| revaluation of fixed | at the end of the year. |
| assets | |
| Gains/(losses) on | This includes any gain or loss on the sale of investments. |
| investment assets |
Page 7
Stratford Church of Christ Notes to the Accounts Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 8
Stratford Church of Christ
Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 9
2 Statement of Financial Activities - prior year
Stratford Church of Christ
Notes to the Accounts
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies General weekly giving Donation Preacher special contributions Gift aid reclaims 4 Other income Bank interest receivable |
Unrestricted funds 2021 £ 44,637 - 44,637 25,558 1,636 27,194 17,443 17,443 17,443 26,395 43,838 Unrestricted £ 48,551 2,706 1,770 18,744 71,771 Restricted £ 212 212 |
Restricted funds 2021 £ - 12 12 - - - 12 12 12 95,494 95,506 Total 2022 £ 48,551 2,706 1,770 18,744 71,771 Total 2022 £ 212 212 |
Total funds 2021 £ 44,637 12 |
| 44,649 25,558 1,636 |
|||
| 27,194 | |||
| 17,455 | |||
| 17,455 | |||
| 17,455 121,889 |
|||
| 139,344 | |||
| Total 2021 £ 42,652 - 1,985 - |
|||
| 44,637 | |||
| Total 2021 £ 12 |
|||
| 12 |
Page 10
Stratford Church of Christ
Notes to the Accounts
5 Expenditure on charitable activities
| Expenditure on charitable activities Benevolence Edification Worship Evangelism Support for India Governance costs Accountancy fees 6 Other expenditure Rent and rates Administration Motor and travel costs General administrative costs 7 Staff costs No employee received emoluments in excess of £60,000. 8 Creditors: amounts falling due within one year Accruals and deferred income |
Unrestricted £ 8,998 - 810 724 1,200 660 12,392 Unrestricted £ 11,569 7,071 591 113 19,344 2022 £ 660 660 |
Total 2022 £ 8,998 - 810 724 1,200 660 12,392 Total 2022 £ 11,569 7,071 591 113 19,344 |
Total 2021 £ 23,335 344 79 - 1,200 600 |
|---|---|---|---|
| 25,558 | |||
| Total 2021 £ 1,430 206 - - |
|||
| 1,636 | |||
| 2021 £ 1,800 |
|||
| 1,800 |
Page 11
Stratford Church of Christ
Notes to the Accounts 9 Movement in funds
| Restricted funds: Restricted income funds: Total Unrestricted funds: General funds Revaluation Reserves: Total funds 10 Analysis of net assets between funds Net current assets 11 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 January 2022 95,506 95,506 43,838 139,344 |
Incoming resources (including other gains/losses) £ 212 212 71,771 71,983 Unrestricted funds £ 179,651 179,651 At 1 January 2022 £ |
Resources expended £ - - (31,736) (31,736) Restricted funds £ (60) (60) Cash flows £ |
At 31 December 2022 £ 95,718 |
|---|---|---|---|---|
| 95,718 | ||||
| 83,873 | ||||
| 179,591 | ||||
| Total £ 179,591 |
||||
| 179,591 | ||||
| At 31 December 2022 £ |
||||
| 141,144 | 39,107 | 180,251 | ||
| 141,144 141,144 |
39,107 39,107 |
180,251 | ||
| 180,251 | ||||
Page 12
Stratford Church of Christ Detailed Statement of Financial Activities For the year ended 31 December 2022
| Income and endowments from: Donations and legacies General weekly giving Donation Preacher special contributions Gift aid reclaims Other Bank interest receivable Total income and endowments Expenditure on: Charitable activities Benevolence Edification Worship Evangelism Support for India Governance costs Accountancy fees Total of expenditure on charitable activities Other expenditure Rent and rates Administration Motor and travel costs Vehicles - General costs General administrative costs, including depreciation and amortisation Sundry expenses |
Unrestricted funds 2022 £ 48,551 2,706 1,770 18,744 71,771 - - 71,771 8,998 - 810 724 1,200 11,732 660 660 12,392 11,569 7,071 18,640 591 591 113 113 |
Restricted funds 2022 £ - - - - - 212 212 212 - - - - - - - - - - - - - - - - |
Total funds 2022 £ 48,551 2,706 1,770 18,744 71,771 212 212 71,983 8,998 - 810 724 1,200 11,732 660 660 12,392 11,569 7,071 18,640 591 591 113 113 |
Total funds 2021 £ 42,652 - 1,985 - |
|---|---|---|---|---|
| 44,637 | ||||
| 12 | ||||
| 12 | ||||
| 44,649 23,335 344 79 - 1,200 |
||||
| 24,958 | ||||
| 600 | ||||
| 600 | ||||
| 25,558 1,430 206 |
||||
| 1,636 | ||||
| - | ||||
| - | ||||
| - | ||||
| - |
Page 13
Stratford Church of Christ
| Stratford Church of Christ | ||||
|---|---|---|---|---|
| Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward Detailed Statement of Financial Activities |
19,344 31,736 - 40,035 40,035 - 40,035 43,838 83,873 |
- - - 212 212 - 212 95,506 95,718 |
19,344 31,736 - 40,247 40,247 - 40,247 139,344 179,591 |
|
| 1,636 | ||||
| 27,194 - |
||||
| 17,455 | ||||
| 17,455 - |
||||
| 17,455 | ||||
| 121,889 | ||||
| 139,344 |
Page 14