# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021** # **CITY VALLEY CHURCH (A COMPANY LIMITED BY GUARANTEE)** **CHARITY REGISTRATION No: 1155619 COMPANY REGISTRATION No: 08812890** Independent Examiners Ltd Unit 2 The Broadfields Business Centre Delling Lane Bosham PO18 8NF 1 ||**CITY VALLEY CHURCH**| |---|---| ||**(A COMPANY LIMITED BY GUARANTEE)**| ||**CONTENTS**| |Page 3|Legal & Administrative Information| |Pages 4 to 7|Directors' Annual Report| |Page 8|Statement of Financial Activities| |Page 9|Balance Sheet| |Pages 10 to 16|Notes to the Financial Statements| |Page 17|Independent Examiner's Report| 2 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **CHARITY NUMBER** 1155619 **COMPANY REGISTRATION NUMBER** 08812890 **DATE OF INCORPORATION** 4th February 2014 **START OF FINANCIAL YEAR** 1st April 2020 **END OF FINANCIAL YEAR** 31st March 2021 **TRUSTEES AS AT 31ST MARCH 2021** M Cowley Appointed 12/12/13 L Parkinson (Resigned 09/07/20) G Golding- Appointed 21/03/17 J Sulc -Appointed 26/6/18 R Keightley -Appointed 26/6/18 M Small -Appointed 24/03/20 (Appointed Chair 24/03/20) L Da Conceicao - Appointed 24/03/20 ## **GOVERNING DOCUMENT** Memorandum and Articles of Association Dated 4th February 2014 as Amended by Special Resolution Dated 12th May 2015. ## **OBJECTS** The charity’s objects (“the Objects”) are for the public benefit and are restricted to the following, outworked in Bradford and the Aire Valley and in such parts of the United Kingdom or the world as the Trustees may from time to time think fit. **a)** To advance the Christian faith. **b)** To relieve persons who are in conditions of need, financial hardship or sickness and who may be aged and to relieve the distress caused thereby. **c)** To advance Christian Education. **d)** To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. |**REGISTERED ADDRESS**|16 Sorrel Way| |---|---| ||Baildon| ||Shipley| ||BD17 7QG| |**BANKERS**|CAF Bank Ltd| ||Kings Hill| ||Kent| ||ME19 4TA| |**INDEPENDENT EXAMINER**|K Gomes| ||Independent Examiners Ltd| ||Unit 2| ||The Broadfields Business Centre| ||Delling Lane| ||Bosham| ||PO18 8NF| 3 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES/DIRECTORS FOR THE YEAR ENDED 31ST MARCH 2021** The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31[st] March 2021. The report has been prepared in accordance with the special provisions Part 15 of the Companies Act 2006 relating to small companies. ## **STRUCTURE GOVERNANCE & MANAGEMENT** ## **Governing document** The organisation is a charitable company limited by guarantee, governed by its Memorandum and Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. ## **Appointment of Trustees & Members** The members are those that are deemed to have agreed to become members of the company (as opposed to members of the church) as defined by section 112 of the Companies Act 2006 and in line with Article 8 of the governing document. The subscribers to the Memorandum were the first members of the charity. The existing members may by ordinary resolution appoint such a person who is willing to be a member, in line with the stipulations of the governing document. The Trustees, who are also the directors, are recommended for appointment by the members, and are appointed with the approval of the existing Trustees. There is a required minimum of 3 Trustees, but no maximum number. ## **Organisational Structure** The Trustees meet regularly to deal with the business and administration of the charity. Minutes are taken for the meetings and actions required are highlighted and referenced at the next meeting to ensure that matters are being dealt with. The Trustees approve the budgets each year, and any spend requirements over and above the budgets are approved. Any matters relating to employment are approved by the trustees. Decisions are always made with the required quorum of Trustees which is currently a minimum of 2 of the 6 appointed Trustees. If required, a vote would take place to make a decision with a majority vote deciding the outcome. In practice, this has not been necessary thus far. The Church is managed on a day to day basis by the leadership team, headed up by Stewart Morris, with the support of a number of part time paid roles and a large team of volunteers. Representatives from the leadership team are invited to the trustees meetings, to facilitate good communication and efficient management of the Charity. No-one personally benefits from this organisation other than as a beneficiary apart from those few individuals who are to be paid for their particular services to the organisation, which includes the Church Leader, and the following part time roles: administrator, student pastor, pastoral team leader, finance administrator, kid’s ministry leader, teaching ministry leader. All of these roles are essential for the effective and successful running of this Church. None of the above are connected to any of the trustees. ## **Related Parties** The Church operates under the oversight/direction of Christ Central, part of New Frontiers, a charitable organisation which oversees Church formation and training initiatives). There are close links with other Churches in the region who are members of the Christ Central Family of Churches. ## **Risk Management** The Trustees have examined the major strategic, business and operational risks which the charity faces and have systems in place to monitor those risks and to take action where necessary to mitigate them. 4 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES/DIRECTORS (Continued) FOR THE YEAR ENDED 31ST MARCH 2021** ## **OBJECTIVES & ACTIVITIES** The charity’s objects (“the Objects”) are for the public benefit and are restricted to the following, outworked in Bradford and the Aire Valley and in such parts of the United Kingdom or the world as the Trustees may from time to time think fit. · To advance the Christian faith · To relieve persons who are in conditions of need, financial hardship or sickness and who may be aged and to relieve the distress caused thereby - ·To advance Christian Education ·To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life. The Trustees regularly review the objectives and activities of the charity, and as part of this review ,have considered the Charity Commission’s general guidance on public benefit and, in particular its supplementary guidance on the advancement of religion for the public benefit. ## **ACHIEVEMENT & PERFORMANCE** The charity carries out a wide range of activities in pursuance of its charitable aims. The Trustees consider that these activities, as summarised below, provide benefit to both active members of the Church and the wider community of Bradford and the Aire Valley. During the year under review, the main areas of progress and achievement included: - The Covid-19 pandemic and subsequent government guidelines have restricted how we have been able - to gather and operate this year. The church has adapted, providing and delivering online content and zoom calls over the last year to connect with and encourage the church. • This year we have also seen the launch of an additional Sunday morning gathering, beginning on line (Bradford site) working with and alongside The Millside Centre in Bradford. • Investing in the infrastructure and administrative support needed in order to take the step to become one church in three sites. In light of this we employed Naomi Prior as an Operations Manager. - We launch a Hope Fund to raise funds to support individuals affected by Covid-19, to strengthen existing - social action projects, and to help establish new initiatives to serve and help those in need. £6,375 of which went to Christ Central's Covid -19 fund towards helping to support and equip churches across Africa to overcome challenges caused by the pandemic. - We have worked in collaboration with The Millside Centre in Bradford, with a team of volunteers and - funds from the Hope Fund, to provide meals to refugees in the centre of Bradford who have not been able to access support which has been disrupted by the pandemic. • We took a Christmas offering to support the work of Hope Housing, who work with the homeless in Bradford. We raised enough money to provide an Amazing Grace Sleeping Pod to provide safe emergency accommodation for rough sleepers In Bradford. This pod is now installed the grounds of St Stephen's Church West Bowling. • Ongoing provision of children’s work in both the Shipley site and Airedale site investing in the children, families, and children's teams within the church. - Ongoing investment in training for the leadership team and, emerging leaders in the church, including - School of Leadership, and Leeds School of Theology courses. - Ongoing participation in the national 'Alpha' evangelism/outreach initiatives, running courses online. - Partnering and supporting Shipley Christians Together to see the launch of a CAP Debt Centre opened in - Shipley. - Continued support to International Students, through partnering with the Global Cafe Team. - The granting of gifts to individuals in need and to other charitable organisations with similar objectives. - Arranging, assisting, and supporting Church members to attend various conferences and training event - Including the launch of a year long theology and biblical studies course "Into The Word" facilitated by Mark Cowley. 5 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES/DIRECTORS (Continued) FOR THE YEAR ENDED 31ST MARCH 2021** The trustees are very happy with the overall, outcome of the above in meeting the charity's stated objectives and envisage sustained growth and development of the Church in the foreseeable future. The trustees recognise and acknowledge that this has been a challenging year for the Church and those it seeks to serve and support. ## **Financial Review** During our sixth year we have seen a 21% increase in regular giving, and a 15% overall increase in our income. We have also seen a gradual increase in our costs due to the expansion of our staff team, a new website and updating branding, as well as increased training to provide the stability and structure required to support our second weekly Sunday morning gathering which started in September. We have also seen an increase in the gifts we've given to other charities and organisations we are supporting and have partnered with this year. During our seventh year we have seen a consolidation in the health of our income, with only a 0.5% decrease in our regular giving and a 3.3% decrease in our overall income. Due to the impact of the Covid-19 pandemic we have also seen a 27.6% decrease in our expenditure, largely due to the restrictions placed on church gatherings and the related costs such as venue hire. We have also seen an increase in the gifts we’ve, given to other charities and organisations we are supporting and have partnered with this year. The income for the general running of the charity during the year came from the generous donations of members and private individuals. Every effort being made to maximise the gift aid claims included. The Trustees continued their policy of using Designated Funds to support the aims of the charity. Our funds are: |· Building Fund (for future premises)
· Buffering Fund (short term liquidity risk)
· Giving (balance of agreed 10% of income)
· Multi-sites (to support future vision)
· Job Club|**2021**
18,000
21,000
6,914
13,800
1,250
**£60,964**|**2020**
18,000
21,000
6,103
13,800
1,250| |---|---|---| |||**60,153**| The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate such risks. 6 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES/DIRECTORS (Continued)** **FOR THE YEAR ENDED 31ST MARCH 2021** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** The Trustees (who are also the directors of City Valley Church for the purposes of company law) are responsible for preparing the Report of the Trustees 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 affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period, In preparing those financial statements, the trustees are required to : **a)** select suitable accounting policies and then apply them consistently; **b)** make judgements and estimates that are reasonable and prudent; **c)** prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business; **d)** state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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. In so far as the trustees are aware: . there is no relevant audit information of which the charitable company's auditors are unaware; and .the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **AUDITORS** The auditors, Independent Examiners Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting. I approve the attached statement of financial activities and balance sheet for the year ended 31st March 2021 and confirm that I have made available all information necessary for its preparation. Approved by the Directors on the ………………………………………… Signed on their behalf by Director ………………………………………………………………………………………………………………… Printed Name: J Sulc 7 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021** ## **(Incorporating Income & Expenditure Account)** |**Notes**
**INCOME AND ENDOWMENTS**
Donations & Legacies
**3a**
Charitable Activities
**3b**
Other Incoming Resources
**3c**
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable Activities
**4a**
**TOTAL EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
Total Funds Brought Forward
Transfer Between Funds
**5**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2020/21**
**2019/20**
£
£
£
£
£
152,891
-
-
152,891
157,085
12,340
3,694
-
16,034
3,790
3,021
-
-
3,021
2,317| |---|---| ||**168,253**
**3,694**
**-**
**171,946**
**163,192**| ||136,820
2,882
-
139,702
165,993| ||**136,820**
**2,882**
**-**
**139,702**
**165,993**| ||**31,433**
**811**
-
**32,244**
**(2,801)**
40,275
60,153
-
100,428
103,229
-
2,882
-
-
-| ||**71,708**
**60,964**
**-**
**132,672**
**100,428**| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 10 to 16 form part of these financial statements. 8 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **BALANCE SHEET FOR THE YEAR ENDED 31ST MARCH 2021** |**Note**
**Fixed Assets**
Tangible Assets
**2**
**Current Assets**
Cash at Bank & in Hand
**7**
Debtors & Prepayments
**8**
**Total Current Assets**
**Creditors:**amounts due within one year
**9**
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
Long Term Liabilities
**10**
**NET ASSETS**
**Funds of the Charity**
General Funds
Designated Funds
**6**
Restricted Funds
**5**
**Total Funds**|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Mar-21**
**31-Mar-20**
£
£
**£**
**£**
4,549
-
4,549
4,391
126,759
-
126,759
93,994
2,615
-
2,615
11,857| |---|---| ||**129,374**
**-**
**129,374**
**105,851**| ||1,250
-
1,250
9,814
128,124
-
128,124
96,037
**132,672**
**-**
**132,672**
**100,428**
-
-
-
-| ||**132,672**
**-**
**132,672**
**100,428**| ||71,708
-
71,708
40,275
60,964
-
60,964
60,153
-
-
-
-| ||**132,672**
**-**
**132,672**
**100,428**| ## **Directors' Responsibilities** The Directors are satisfied that for the period ended on 31st March 2021 the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 19. The Directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). The Directors acknowledge their responsibility for ensuring that the company keeps proper accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and if its profit and loss for the 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 accounts, so far as applicable to the company. Approved by the Directors on the ………………………………………… Signed on their behalf by Director ……………………………………………………………… Printed Name: J Sulc 9 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of Preparation & Assessment of Going Concern** ## **Basis of Preparation** The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The 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 (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011. The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. ## **Assessment of Going Concern** Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. ## **Cash Flow Statement** The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement. ## **Incoming Resources** ## _**Recognition of Incoming Resources**_ These are included in the Statement of Financial Activities (SOFA) when: ▪ the charity becomes entitled to the resources; ▪ the trustees are virtually certain they will receive the resources; and ▪ the monetary value can be measured with sufficient reliability ## _**Incoming Resources with Related Expenditure**_ Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA. ## _**Grants and Donations**_ Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. ## _**Tax Reclaims on Donations and Gifts**_ Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. ## _**Contractual Income and Performance Related Grants**_ This is only included in the SOFA once the related goods or services has been delivered. ## _**Gifts in Kind**_ Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. ## _**Donated Services and Facilities**_ These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## _**Volunteer Help**_ The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report. ## _**Investment Income**_ This is included in the accounts when receivable. ## _**Investment Gains and Losses**_ This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 10 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021** ## **1. ACCOUNTING POLICIES (Continued)** ## **Expenditure and Liabilities** ## _**Liability Recognition**_ Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## _**Governance Costs**_ Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters. ## _**Grants with Performance Conditions**_ Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. ## _**Grants Payable without Performance Conditions**_ These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity. ## _**Support Costs**_ Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property costs by floor areas, or per capital, staff costs by the time spent and other costs by their usage. ## _**Pensions**_ The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. ## _**Operating Leases**_ Rental charges payable under operating leases are charged on a straight line basis over the terms of the leas ## _**Taxation**_ The charity is exempt from tax on its charitable activities. ## _**Legal Status of the Charity**_ The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## _**Fixed Assets**_ Tangible fixed assets for use by the charity, are capitalised if they can be used for more than one year, and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. There has been no change to the accounting policies (Valuation rules and methods of accounting) since last year. ## _**Depreciation Expense**_ Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a Reducing Balance over their estimated useful lives. The rates applied per annum are as follows: General Equipment 25% 11 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021** ## **2. TANGIBLE FIXED ASSETS** |||Land &|General|Motor||**Total**| |---|---|---|---|---|---|---| |||Buildings|Equipment|Vehicles||**2020/21**| |||£|£|£||£| |Cost|01-Apr-20|-|42,875||-|42,875| |Additions||-|1,675||-|1,675| |Cost at|31-Mar-21|**-**|**44,550**||**-**|**44,550**| |Depreciation|01-Apr-20|-|38,484||-|38,484| |Charge||-|1,517||-|1,517| |Depreciation at|31-Mar-21|**-**|**40,001**||**-**|**40,001**| |Net Book Value|31-Mar-21|**-**|**4,549**||**-**|**4,549**| |Net Book Value|31-Mar-20|**-**|**4,391**||**-**|**4,391**| The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st March 2021: None 31st March 2020: None ## **3. INCOME AND ENDOWMENTS** |**a) Donations & Legacies**
Gifts, Tithes & Offerings
Gift Aid Tax Recoverable
**b) Charitable Activities**
Activities & Projects
**c) Other Incoming Resources**
Sundry Income|Unrestricted Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2020/21**
**2019/20**
£
£
£
£
£
126,080
-
126,080
132,013
26,811
-
-
26,811
25,072
-| |---|---| ||**152,891**
**-**
**-**
**152,891**
**157,085**| ||12,340
3,694
-
16,034
3,790| ||**12,340**
**3,694**
**-**
**16,034**
**3,790**| ||3,021
-
-
3,021
2,317| ||**3,021**
**-**
**-**
**3,021**
**2,317**| 12 ## **CITY VALLEY CHURCH (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021** ## **4. EXPENDITURE** |**a) Charitable Activities**
**Note**
Activities & Projects
**6**
Administrative Costs
AV Costs
Children's Expenses
Depreciation Expense
Evangelism
Gifts & Donations
Meeting Costs
Salaries & Wages
**13**
Social Action
Student Costs
Sundry Expenses
Training Costs
Yorkshire Expenses
Youth Expenses
Independent Examiner's Fee|Unrestricted Designated
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
Funds
**2020/21**
**2019/20**
£
£
£
£
£
10,097
2,882
-
12,979
5,579
9,464
-
-
9,464
12,920
2,271
-
-
2,271
1,691
1,029
-
-
1,029
1,204
1,517
-
-
1,517
1,464
-
-
-
-
2,484
28,386
-
-
28,386
26,522
200
-
-
200
24,010
78,838
-
-
78,838
77,456
720
-
-
720
1,083
25
-
-
25
2,019
385
-
-
385
1,532
2,518
-
-
2,518
5,478
-
-
-
-
-
120
-
-
120
1,302
1,250
-
-
1,250
1,250| |---|---| ||**136,820**
**2,882**
**-**
**139,702**
**165,993**| ## **5. RESTRICTED FUNDS** The Charity held no restricted funds during this or the previous financial year. ## **6. DESIGNATED FUNDS** |**CURRENT FINANCIAL YEAR**
Building Fund
Budget Fund
Giving Fund
Investment - Future Multisite
Job Club
**PREVIOUS FINANCIAL YEAR**
Building Fund
Budget Fund
Giving Fund
Investment - Future Multisite
Job Club|**Balance**
**Balance**
**01-Apr-20**
Income
Expenditure
Transfers
**31-Mar-21**
£
£
£
£
£
18,000
-
-
-
18,000
21,000
-
-
-
21,000
6,103
3,694
2,882
-
6,914
13,800
-
-
-
13,800
1,250
-
-
-
1,250| |---|---| ||**60,153**
**3,694**
**2,882**
**-**
**60,964**| ||**Balance**
**Balance**
**01-Apr-19**
Income
Expenditure
Transfers
**31-Mar-20**
£
£
£
£
£
18,000
-
-
-
18,000
21,000
-
-
-
21,000
7,396
3,790
5,083
-
6,103
13,800
-
-
-
13,800
1,250
-
-
-
1,250| ||**61,446**
**3,790**
**5,083**
**-**
**60,153**| The Designated Funds held are wholly represented by the Charity's cash reserves. 13 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021** |**7. CASH AT BANK AND IN HAND**|Unrestricted|Restricted|**Total**|**Total**| |---|---|---|---|---| ||Fund|Fund|**31-Mar-21**|**31-Mar-20**| ||£|£|**£**|**£**| |Cash at Bank and in Hand|126,759|-|126,759|93,994| ||**126,759**|**-**|**126,759**|**93,994**| |**8. DEBTORS AND PREPAYMENTS**|Unrestricted|Restricted|**Total**|**Total**| ||Fund|Fund|**31-Mar-21**|**31-Mar-20**| ||£|£|**£**|**£**| |Gift Aid Tax Recoverable|1,616|-|1,616|2,458| |Prepayments|998|-|998|9,399| ||**2,615**|**-**|**2,615**|**11,857**| |**9. CREDITORS AND ACCRUALS: AMOUNTS**|**FALLING DUE WITHIN ONE YEAR**|||| ||Unrestricted|Restricted|**Total**|**Total**| ||Fund|Fund|**31-Mar-21**|**31-Mar-20**| ||£|£|**£**|**£**| |Independent Examiner's Fee|1,250|-|1,250|495| |PAYE & N.I|-|-|-|-| |Sundry Creditors|-|-|-|1,250| |Deferred Income|-|-|-|8,069| ||**1,250**|**-**|**1,250**|**9,814**| ## **10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** The Charity held no long term liabilities during this or the previous financial year. 14 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021** ## **11. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ## **CURRENT FINANCIAL YEAR** |Tangible Fixed Assets
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**TOTAL**
Funds
Funds
**2020/21**
£
£
£
4,549
-
4,549
128,124
-
128,124
-
-
-| |---|---| ||**132,672**
**-**
**132,672**| ## **PREVIOUS FINANCIAL YEAR** |Tangible Fixed Assets
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**TOTAL**
Funds
Funds
**2019/20**
£
£
£
4,391
-
4,391
96,037
-
96,037
-
-
-| |---|---| ||**100,428**
**-**
**100,428**| ## **12. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES** The Company is Limited by Guarantee (08812890) and is a Charity registered with the Charity Commission (1155619) and does not have a Share capital and has no income subject to Corporation Tax. |Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at 31st March 2020|**2020/21**
**£**
32,244
-
**32,244**
100,428
**132,672**|**2019/20**
**£**
2,801
-
-| |---|---|---| |||**2,801**
**-**| |||103,229| |||**100,428**| 15 ## **CITY VALLEY CHURCH** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021** ## **13. STAFF COSTS AND NUMBERS** |Gross Wages & Salaries
Employer's National Insurance Costs
Pension Contributions|**TOTAL**
**2020/21**
**£**
73,601
3,655
1,582
**78,838**|**TOTAL**
**2019/20**
**£**
73,300
3,231
926| |---|---|---| |||**77,456**| Employees who were engaged in each of the following activities: |Charitable Activities|**TOTAL**
**2020/21**
9
**9**|**TOTAL**
**2019/20**
9| |---|---|---| |||**9**| The Charity operates a PAYE Scheme to pay all employed members of Staff and no employees received emoluments in the range of £50,000 to £60,000 (2019/20:None) ## **14. DIRECTORS AND OTHER RELATED PARTY TRANSACTIONS** During the financial year Director Mr M.P Cowley received £2,014.60 and Mrs J.R Cowley (Spouse to Director Mr M.P Cowley) received £3,021.96 in salary related payments in furtherance the charitable objectives of the Church. During the financial year Mayme Small received £2,937.97 (and Matt Small as spouse £17,143.54) in salary related payments in furtherance the charitable objectives of the Church. During the financial year Joanna Sulc received £3,678.52 (spouse of Josh Sulc) in salary related payments in furtherance the charitable objectives of the Church. No other payments were made to directors or any persons connected with them during the financial year. No other material transaction took place between the charity and a trustee or any person connected with them. ## **15. RISK ASSESSMENT** The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. ## **16. RESERVES POLICY** The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily. ## **17. PUBLIC BENEFIT** The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake. 16 ## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** Report to the trustees/ members of City Valley Church on the accounts for the year ended 31st March 2021 set out on pages 8 to 16. ## **Respective responsibilities of trustees and examiner** The Charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees are satisfied that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination. Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:- a) examine the accounts under section 145 of the Act; b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and; c) to state whether particular matters have come to my attention. ## **Basis of independent examiner's statement** I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements , and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. The procedures undertaken do not provide all the evidence that would be required in an audit , and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below. I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtain written assurances from the trustees of all material matters. ## **Independent examiner's statement** In the course of my examination, no matter has come to my attention: 1.which gives me reasonable cause to believe that in, any material respect, the trustees requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and · to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of recommended Practice: Accounting and Reporting by Charities. have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. k Gomes MAAT Independent Examiners Ltd Unit 2 The Broadfields Business Centre Bosham PO18 8NF Date: 17.12.21 17