**REGISTERED COMPANY NUMBER: 1155973 (England and Wales) REGISTERED CHARITY NUMBER: 1155973**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
The David House CIO
Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA
The David House CIO
Contents of the Financial Statements for the Year Ended 31 December 2023
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 11|
|Detailed Statement of Financial Activities|12|
The David House CIO
Report of the Trustees for the Year Ended 31 December 2023
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 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **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 and 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**
In planning our activities the trustees keep in mind the Charity Commission guidance on public benefit at their 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 operate in accordance with these aims, seeking to promote public benefit through the charity's activities.
## **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 where existing Christians have been taught and encouraged in their faith. New web-based resources are also being developed and hosted on www.the davidhouse.org.
Piers continued to develop the teaching network in Eastern Europe through a conference held in Budapest for Hungarian Christians. Through Ukrainian contacts we were able to hold small gatherings of leaders in breakfast meetings from city to city. 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**
## **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 disbursed successfully to make significant progress with its objectives. The building at 78 Woodville Road provides rental income to further support the activities of the charity.
## **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.
## **FUTURE PLANS**
The trustees intend to continue focussing on developing good relationships with the Jewish community both in the UK and Central 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.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is a CIO (Charitable Incorporated Organisation) controlled by its constitution registered on 28th February 2014.
1
The David House CIO
Report of the Trustees for the Year Ended 31 December 2023
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
Trustees are recruited as needed from a diverse number of backgrounds. Each trustee has relevant experience and a wide skills base which they bring to their service. 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 consider prayerfully their willingness to stand for election. They are elected to the board of trustees by a vote taken by the existing trustees.
## **Organisational structure**
The charity has a board of trustees comprising four trustees. The 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 trustee board consists of - Jane Urquhart Term ending 9th February 2024 David Hoffbrand Term ending 8th August 2025 Simion Lewis Appointed 18th May 2023
## **Induction and training of new trustees**
Once trustees are appointed, time is taken to familiarise them with the practices and requirements relating to them as trustees. They are also made familiar with all aspects of the charity's work and financial situation. Any further training or induction takes place as the need arises.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
1155973 (England and Wales)
## **Registered Charity number**
1155973
## **Registered office**
78 Woodville Road Cathays Cardiff CF83 3EJ
## **Trustees**
J Urquhart D Hoffbrand S Simons (resigned 9.7.23) S Lewis (appointed 18.5.23)
## **Independent Examiner**
Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA
## **Bankers**
National Westminster Bank PLC 84 Commercial Road Swindon Wiltshire SN1 5NW
2
The David House CIO
for the Year Ended 31 December 2023
## Report of the Trustees
Approved by order of the board of trustees on 26 September 2024 and signed on its behalf by:
## DAVID HOFFBRAND
D Hoffbrand - Trustee
3
Independent Examiner's Report to the Trustees of The David House CIO
## **Independent examiner's report to the trustees of The David House CIO ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Christopher Vaughan
Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA
18 September 2024
4
The David House CIO
## Statement of Financial Activities
## for the Year Ended 31 December 2023
|||31.12.23|31.12.22|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies||143,994|214,351|
|Investment income|2|36,740|33,291|
|Other income||-|373|
|**Total**||180,734|248,015|
|**EXPENDITURE ON**||||
|**Charitable activities**||||
|Furtherance of the gospel and provision of||||
|humanitarian aid||||
|||148,946|250,579|
|**NET INCOME/(EXPENDITURE)**||31,788|(2,564)|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward||348,591|351,155|
|**TOTAL FUNDS CARRIED FORWARD**||380,379|348,591|
The notes form part of these financial statements
5
The David House CIO
## Balance Sheet 31 December 2023
|31.12.23
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
272,939
**CURRENT ASSETS**
Debtors
7
18,922
Cash at bank
89,337
108,259
**CREDITORS**
Amounts falling due within one year
8
(819)
**NET CURRENT ASSETS**
107,440
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
380,379
**NET ASSETS**
380,379
**FUNDS**
10
Unrestricted funds
380,379
**TOTAL FUNDS**
380,379|31.12.22
Total
funds
£
272,939
-
76,736
76,736
(1,084)
75,652
348,591
348,591
348,591
348,591|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
- The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18 September 2024 and were signed on its behalf by:
D Hoffbrand - Trustee
The notes form part of these financial statements
6
The David House CIO
Notes to the Financial Statements for the Year Ended 31 December 2023
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
||31.12.23|31.12.22|
|---|---|---|
||£|£|
|Rents received|36,740|33,291|
continued...
7
The David House CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
|**Trustees' expenses**|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|Trustees' expenses|212|155|
|**STAFF COSTS**|||
|The average monthly number of employees during the year was as follows:|||
||31.12.23|31.12.22|
|Management|1|-|
|No employees received emoluments in excess of £60,000.|||
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|||
|||Unrestricted|
|||fund|
|||£|
|**INCOME AND ENDOWMENTS FROM**|||
|Donations and legacies||214,351|
|Investment income||33,291|
|Other income||373|
|**Total**||248,015|
|**EXPENDITURE ON**|||
|**Charitable activities**|||
|Furtherance of the gospel and provision of|||
|humanitarian aid|||
|||250,579|
|**NET INCOME/(EXPENDITURE)**||(2,564)|
|**RECONCILIATION OF FUNDS**|||
|Total funds brought forward||351,155|
|**TOTAL FUNDS CARRIED FORWARD**||348,591|
## **4.**
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
continued...
8
The David House CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
|**6.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2023 and 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 9)
Accrued expenses
**9.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**10.**
**MOVEMENT IN FUNDS**
At 1.1.23
£
**Unrestricted funds**
General fund
348,591
**TOTAL FUNDS**
348,591|31.12.23
£
18,024
898
18,922
31.12.23
£
-
819
819
31.12.23
£
-
Net
movement
in funds
£
31,788
31,788|Freehold
property
£
272,939
272,939
272,939
31.12.22
£
-
-
-
31.12.22
£
289
795
1,084
31.12.22
£
289
At
31.12.23
£
380,379
380,379|
|---|---|---|
continued...
9
The David House CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **10. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
180,734
180,734|Resources
Movement
expended
in funds
£
£
(148,946)
31,788
(148,946)
31,788|
|---|---|---|
## **Comparatives for movement in funds**
|At 1.1.22
£
**Unrestricted funds**
General fund
351,155
**TOTAL FUNDS**
351,155
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
248,015
**TOTAL FUNDS**
248,015|Net
movement
At
in funds
31.12.22
£
£
(2,564)
348,591
(2,564)
348,591
Resources
Movement
expended
in funds
£
£
(250,579)
(2,564)
(250,579)
(2,564)|
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.22
£
351,155
351,155|Net
movement
in funds
£
29,224
29,224|At
31.12.23
£
380,379
380,379|
|---|---|---|---|
continued...
10
The David House CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
428,749
428,749|Resources
Movement
expended
in funds
£
£
(399,525)
29,224
(399,525)
29,224|
|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
11
The David House CIO
## Detailed Statement of Financial Activities for the Year Ended 31 December 2023
|Detailed Statement of Financial Activities
for the Year Ended 31 December 2023|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Appeals and donations|143,994|214,351|
|**Investment income**|||
|Rents received|36,740|33,291|
|**Other income**|||
|Other income|-|373|
|**Total incoming resources**|180,734|248,015|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Salaries|21,328|15,281|
|Social security|-|1,212|
|Office costs|7,813|10,365|
|Postage and stationery|696|384|
|Sundries|9,676|281|
|Travel and subsistence|2,187|4,721|
|Legal and professional fees|871|-|
|Ukraine projects|59,105|196,888|
|ONM projects|38,238|15,058|
||139,914|244,190|
|**Support costs**|||
|**Management**|||
|Office costs|2,604|3,531|
|Repairs and maintenance|5,802|2,113|
||8,406|5,644|
|**Finance**|||
|Bank charges|-|185|
|**Governance costs**|||
|Trustees' expenses|212|155|
|Legal and professional fees|414|405|
||626|560|
|Total resources expended|148,946|250,579|
|**Net income/(expenditure)**|31,788|(2,564)|
This page does not form part of the statutory financial statements
12