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← Stratford Church Of Christ

2023-12-31-accounts

Stratford Church of Christ

Charity No. 1153326

Trustees' Report and Unaudited Accounts For the year ended 31 December 2023

Ease Accounting “We Make It Easy” Ltd 20-22 Wenlock Road London N1 7GU

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 14
Detailed Statement of Financial Activities 15 to 16

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 2023.

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

Ease Accounting We Make It Easy Ltd

20-22 Wenlock Road London N1 7GU

OBJECTIVES AND ACTIVITIES

The charity's object are:-

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 £72,263 (2022 - £71,983) and total expenditure of £39,015 (2022 - £31,736) leaving a net surplus for the year of £33,248 (2022 - £40,247). The net assets of the charity as at 31st December 2023 was £212,839 (2022 - £179,591).

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 16 August 2024

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 2023 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:

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.

........................................

Ease Accounting We Make It Easy Ltd

20-22 Wenlock Road London N1 7GU

16 August 2024

Page 4

Stratford Church of Christ Statement of Financial Activities For the year ended 31 December 2023

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
2023
£
70,128
-		 Restricted
funds
2023
£
-
2,135		 Total funds
2023
£
70,128
2,315		 Total funds
2022
£
71,771
212
70,128
15,488
23,527		 2,315
-
-		 72,263
15,488
23,527		 71,983
12,392
19,344
39,015
-		 -
-		 39,015
-		 31,736
-
31,113
-		 2,135
-		 33,248
-		 40,247
-
31,113 2,135 33,248 40,247
31,113
83,873		 2,135
95,718		 33,248
179,591		 40,247
139,344
114,985 97,853 212,839 179,591

Page 5

Stratford Church of Christ Balance Sheet

At 31 December 2023

Charity No. 1153326 2023
£		 2022
£
Fixed Assets
Tangible fixed asset
8
Current assets
Cash at bank and in hand
Creditors:Amount falling due within one year
9
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
Restricted income funds
10
Unrestricted funds
10
General funds
Reserves
10
Total funds		 17,945
195,914
213,859
(1,020)
212,839
212,839
212,839
212,839
97,853
97,853
114,986
114,986
212,839		 -
180,251
180,251
(660)
179,591
179,591
179,591
179,591
95,718
95,718
83,873
83,873
179,591

Approved by the trustees on 16 August 2024

And signed on their behalf by:

................................................... Kwaku Twumasi Trustee 16 August 2024

Page 6

Stratford Church of Christ Notes to the Accounts For the year ended 31 December 2023

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

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
Recognition of
income		 Income is included in the Statement of Financial Activities (SoFA) when the charity
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.

Tangible fixed assets and Depreciation

Property, plant and equipment is stated at cost less accumulated depreciation and impairment loss. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its ex pected useful life as follows:

Asset class and depreciation rate

Motor Vehicles 25% reducing balance

Page 9

Stratford Church of Christ Notes to the Accounts

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 10

Stratford Church of Christ

Notes to the Accounts

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
2022
£
71,771
-
71,771
12,392
19,344
31,736
40,035
40,035
40,035
43,838
83,873
Unrestricted
£
62,246
5,040
2,842
-
70,128
Restricted
£
2,135
2,135		 Restricted
funds
2022
£
-
212
212
-
-
-
212
212
212
95,506
95,718
Total
2023
£
62,246
5,040
2,842
-
70,128
Total
2023
£
2,135
2,135		 Total funds
2022
£
71,771
212
71,983
12,392
19,344
31,736
40,247
40,247
40,247
139,344
179,591
Total
2022
£
48,551
2,706
1,770
18,744
71,771
Total
2022
£
212
212

Page 11

Stratford Church of Christ

Notes to the Accounts

5 Expenditure on charitable activities

Expenditure on charitable
activities
Benevolence
Worship
Evangelism
Support for India
Governance costs
Accountancy fees
6
Other expenditure
Rent and rates
Administration
Motor and travel costs
General administrative costs		 Unrestricted
£
11,427
1,620
581
1,200
660
15,488
Unrestricted
£
11,008
9,393
1,071
2,055
23,527		 Total
2023
£
11,427
1,620
581
1,200
660
15,488
Total
2023
£
11,008
9,393
1,071
2,055
23,527		 Total
2022
£
8,998
810
724
1,200
660
12,392
Total
2022
£
11,569
7,071
591
113
19,344

7 Staff Costs

No employee received emoluments in excess of £60,000.

8 Tangible Fixed Assets

Cost
Addition during the year
Total Cost
Depreciation
Charged during the year
Total Depreciation
Net book Value C/fwd		 2023
£
20,000
20,000
2,055
2,055
17,945		 2022
£
-
-
-
-

Page 12

Stratford Church of Christ Notes to the Accounts

9 Creditors

Amounts falling due within one year
Accruals and deferred income
10 Movement in funds
Restricted Funds:
Restricted income funds:
Total
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds		 At
January
2023
£
95,718
95,718
83,873
179,591		 Incoming
resources
(including
other
gains/losses)
£
2,135
2,135
70,128
72,263		 2023
2022
£
£
1,020
660
1,020
660
Resources
expended
At 31
December
2023
£
£
-
97,853
-
97,853
(39,015)
114,986
(39,015)
212,839

Page 13

Stratford Church of Christ Notes to the Accounts

11 Analysis of net assets between funds

Net Current Assets Unrestricted
funds
£
212,899
212,899		 Restricted
Funds
£
(60)
(60)		 Total
£
212,839
212,839

12 Reconciliation of net debt

Cash and cash equivalents
Net debt		 At 1 January
2023
£
180,251
180,251
180,251		 Cash flows
£
15,663
15,663
15,663		 At 31 December
2023
£
195,914
195,914
195,914

Page 14

Stratford Church of Christ

Detailed Statement of Financial Activities For

the year ended 31 December 2023

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
Worship
Evangelism
Support for India
Governance costs
Accountancy fees
Total of expenditure on
charitable activities		 Unrestrict
ed funds
2023
£
62,246
5,040
2,842
-
70,128
-
70,128
11,427
1,620
581
1,200
14,828
660
660
15,488		 Restricted
funds 2023
£
-
2,135
2,135
2,135
-
-
-		 Total
funds
2023
£
62,246
5,040
2,842
-
70,128
2,135
2,135
72,263
11,427
1,620
581
1,200
14,828
660
660
15,488		 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

Page 15

Stratford Church of Christ

Other expenditure
Rent and rates
Administration
Motor and travel costs
Vehicles - General costs
General administrative costs,
including depreciation and
amortisation
Sundry expenses
Depreciation
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		 11,008
9,393
20,401
1,071
1,071
2,055
2,055
23,527
39,015
-
31,113
31,113
-
31,113
83,873
114,986		 -
-
-
-
-
-
2,135
2,135
-
2,135
95,718
97,853		 11,008
9,393
20,401
1,071
1,071
-
2,055
2,055
23,527
39,015
-
33,248
33,248
-
33,248
179,591
212,839		 11,569
7,071
18,640
591
591
113
113
19,344
31,736
-
40,247
40,247
-
40,247
139,344
179,591

Page 16