Charity registration number: 1155973 ## The David House CIO Annual Report and Financial Statements for the Year Ended 31 December 2020 AIMS Accountants for Business 22-24 James Street Cardiff CF10 5EX ## **The David House CIO** ## **Contents** **----- Start of picture text -----**
Reference and Administrative Details 1
Trustees' Report 2 to 3
Independent examiner's report 4
Statement of financial activities 5
Balance Sheet 6
Notes to the financial statements 7 to 10
**----- End of picture text -----**
## **The David House CIO Reference and Administrative Details** |**Charity name**|The David House CIO|The David House CIO| |---|---|---| |**Charity registration number**|1155973|| |**Principal office**|78 Woodville Road|| ||Cathays|| ||Cardiff|| ||CF83 3EJ|| |**Registered office**|78 Woodville Road|| ||Cathays|| ||Cardiff|| ||CF83 3EJ|| |**Trustees**|D Starritt|| ||J Urquhart|| ||D Hoffbrand|| ||Suki Simons|(appointed 9 July 2020)| |**Bankers**|National Westminster Bank PLC|| ||84 Commercial Road|| ||Swindon|| ||SN1 5NW|| |**Accountant**|AIMS Accountants for Business|| ||22-24 James Street|| ||Cardiff|| ||CF10 5EX|| Page 1 ## **The David House CIO** ## **Trustees' Report** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The David House is a CIO (Charitable Incorporated Organisation) registered on 28th February 2014. The charity's objects and powers are delineated by its Memorandum and Articles of Association. The charity is managed by the Board of Trustees. ## **Recruitment and appointment of new trustees** Trustees are recruited as needed from a diverse number of different backgrounds. Each trustee has relevant experience and a wide skills base which they bring to their service as trustees. In the event of particular skills being lost due to retirements, individuals are approached to offer themselves for election to the board of trustees. They are then invited to attend the next board meeting as an observer. They are then given time to prayerfully consider their willingness to stand for election. They are elected to the board of trustees by a vote taken by the current trustees. ## **Induction and training of new trustees** Once trustees are appointed, time is taken to familiarise them with the practices and requirements of them as trustees. They are also made familiar with all aspects of the charities work and financial situation. Any further training or induction takes place as the need arises. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Organisational structure** The David House had a Board of Trustees of three trustees at the start of 2020 and at the second trustees meeting of the year a new trustee was added taking the number to four. The charity's trustees are responsible for the strategic direction and policy of the charity and have control of the charity and its property and funds. Existing trustees may appoint additional trustees to their number, at any time, providing the total number of trustees is a minimum number of three and a maximum number of six individuals. The current trustees board consists of: Desmond Starritt term ending 15th November 2022 Jane Urqhart term ending 9th February 2021 David Hoffbrand term ending 8th August 2023 respectively Suki Simons appointed 9th July 2020 term ending 9th July 2023. ## **Risk management** The trustees have reviewed the known major risks to which the charity is exposed. They do not consider that there are any major risks threatening the charity at the present time but this situation is subject to continual monitoring. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objects of the charity are to advance the Christian religion for the benefit of the public in such parts of the United Kingdom or the world as the trustees may from time to time think fit in accordance with the teachings of the Christian faith as expressed in the Bible. ## **Public benefit** Page 2 ## **The David House CIO** ## **Trustees' Report** In planning our activities for the period we kept in mind the Charity Commission guidance on public benefit at our trustee meetings. In view of the charity's objectives to advance the Christian religion for the benefit of the public in accordance with the teachings of the Christian faith as expressed in the Bible. The work of the charity has continued to work in accordance with these aims, seeking to promote the public benefit through the charities work. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The charity has had regular communications with the supporter base through quarterly mailings including a series of articles and ministry reports written and compiled by Piers Arthur Crow. This communication has taken place both in printed form and by electronic means. In addition the charity has hosted regular meetings on Zoom during the Covid pandemic where existing Christians have been taught and encouraged in their faith. New web based resources are also being developed and hosted on www.thedavidhouse.org. Piers did not travel to Ukraine due to Covid but continued to develop the teaching network in Eastern Europe through local contacts. Small gatherings of leaders in breakfast meetings from city to city continued to be possible. This enables more leaders to gather at less cost whilst lowering the barrier to involvement by hosting events in a number of cities. ## **FINANCIAL REVIEW** ## **Reserves policy** The trustees consider that the charity's reserves should be sufficient to cover the following contingencies in order to facilitate the winding down of its operations whilst minimising the inconvenience to stakeholders in the event of the charity ceasing to operate on a permanent basis: - Sufficient funds to meet any liabilities arising from redundancies. - Three months non-staffing costs to enable termination of contracts with suppliers of goods and services. ## **Investment policy and objectives** The charity's excess funds are retained in an interest bearing account with the charity's bankers. The charity continues to function successfully. The charity has continued to raise funds from generous donors and these funds have been dispersed successfully in order to make significant progress with its objectives. The building at 78 Woodville Road provides rental income to further support the activities of the UK charity. ## **FUTURE DEVELOPMENTS** The trustees intend to continue focussing on developing good relationships with the Jewish Community both in the UK and Eastern Europe. The charity will also develop new and innovative ways of using the monthly mailings and other means to educate and encourage the Christian community. Approved by the Trustees on 1 October 2021 and signed on their behalf by: ......................................... D Starritt Trustee Page 3 ## **Independent Examiner's Report to the Trustees of** ## **The David House CIO** I report on the accounts of the Trust for the year ended 31 December 2020, which are set out on pages 5 to 10. ## **Respective responsibilities of trustees and examiner** The trustees 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. It is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and - 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** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 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. ......................................... Steve Hallett FCA AIMS Accountants for Business 22-24 James Street Cardiff CF10 5EX 1 October 2021 Page 4 ## **The David House CIO** ## **Statement of Financial Activities for the Year Ended 31 December 2020** |Note
**Incoming resources**
Incoming resources from generated funds
Voluntary income
2
Activities for generating funds
3
Total incoming resources
**Resources expended**
Charitable activities
4
Governance costs
4
Total resources expended
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|Unrestricted
Funds
£
138,207
13,070
151,277
41,483
480
41,963
109,314
224,637
333,951|Total Funds
2020
£
138,207
13,070
151,277
41,483
480
41,963
109,314
224,637
333,951|Total Funds
2019
£
115,648
10,379| |---|---|---|---| ||||126,027| ||||53,256
480| ||||53,736| ||||72,291
152,346| ||||224,637| All incoming resources and resources expended derive from continuing activities. The charity has no recognised gains or losses for the year other than the results above. The notes on pages 7 to 10 form an integral part of these financial statements. Page 5 ## **The David House CIO** ## **Balance Sheet as at 31 December 2020** |2020
Note
£
£
**Fixed assets**
Tangible assets
7
119,751
**Current assets**
Cash at bank and in hand
214,680
**Creditors: Amounts falling due within**
**one year**
8
(480)
**Net current assets**
214,200
**Net assets**
333,951
**The funds of the charity:**
**Unrestricted funds**
Unrestricted income funds
333,951
**Total charity funds**
333,951
Approved by the Board on 1 October 2021 and signed on its behalf by:
.........................................
D Starritt
Trustee|2019
£
£
119,751
105,846
(960)
104,886
224,637
224,637
224,637|2019
£
£
119,751
105,846
(960)
104,886
224,637
224,637
224,637| |---|---|---| |||224,637| |||224,637| |||224,637| |||| The notes on pages 7 to 10 form an integral part of these financial statements. Page 6 ## **The David House CIO** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **1 Accounting policies** ## **Basis of preparation** The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities (SORP 2005)', issued in March 2005, applicable accounting standards and the Charities Act 2011. ## **Fund accounting policy** Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Further details of each fund are disclosed in note 10. ## **Incoming resources** Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. ## **Resources expended** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Governance costs** Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. ## **Support costs** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. ## **2 Voluntary income** |**Donations and legacies**
Appeals and donations|Unrestricted
Funds
£
138,207|Total Funds
2020
£
138,207|Total Funds
2019
£
115,648| |---|---|---|---| Page 7 ## **The David House CIO** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** _......... continued_ ## **3 Activities for generating funds** |**Rental income**
Rental income
**Total resources expended**
**Direct costs**
Employment costs
Office expenses
Printing, posting and stationery
Travel and subsistence
Legal and professional costs
**Support costs**
Establishment costs
Repairs and maintenance
Office expenses
Management fee|Unrestricted
Funds
£
13,070
Charitable
activities
£
15,750
5,289
748
623
2,002
24,412
2,315
12,292
1,749
715
17,071
41,483|Total Funds
2020
£
13,070
Governance
£
-
-
-
-
480
480
-
-
-
-
-
480|Total Funds
2019
£
10,379| |---|---|---|---| ||||Total
£
15,750
5,289
748
623
2,482| ||||24,892| ||||2,315
12,292
1,749
715| ||||17,071| ||||41,963| ## **4 Total resources expended** ## **5 Trustees' remuneration and expenses** During the year £4843 was paid to TLB direct, a partnership of which D. Starritt, a trustee, is a member. This was for administrative and management services and not for acting as a trustee. Page 8 ## **The David House CIO** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** _......... continued_ ## **6 Employees' remuneration** The aggregate payroll costs of these persons were as follows: |Wages and salaries
No employee received emoluments of more than £60,000 during the year (2019|2020
£
15,750
- No. 0).|2019
£
18,588| |---|---|---| |||| ## **7 Tangible fixed assets** ||Freehold| |---|---| ||interest in land| ||and buildings| ||(including| ||heritage| ||assets)| ||£| |**Cost**|| |As at 1 January 2020 and 31 December 2020|119,751| |**Net book value**|| |As at 31 December 2020|119,751| |As at 31 December 2019|119,751| ## **8 Creditors: Amounts falling due within one year** |Accruals and deferred income|2020
£
480|2019
£
960| |---|---|---| Page 9 ## **The David House CIO** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** _......... continued_ ## **9 Related parties** ## **Controlling entity** The charity is controlled by the trustees. ## **10 Analysis of funds** ||At 1|||At 31| |---|---|---|---|---| ||January|Incoming|Resources|December| ||2020|resources|expended|2020| ||£|£|£|£| |**General Funds**||||| |Unrestricted income fund|224,637|151,277|(41,963)|333,951| ## **11 Net assets by fund** |Tangible assets
Current assets
Creditors: Amounts falling due within one year
Net assets|Unrestricted
Funds
£
119,751
214,680
(480)
333,951|Total Funds
2020
£
119,751
214,680
(480)
333,951|Total Funds
2019
£
119,751
105,846
(960)| |---|---|---|---| ||||224,637| Page 10