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2022-03-31-accounts

Trinity Church Oxford

Charity number: 1157703

Report and Financial Statements

for the year ended 31st March 2022

Wenn Townsend

Chartered Accountants

Oxford

Trinity Church Oxford

Contents

Page
Legal and Administrative Information 1
Report of the Trustees 2 - 6
Independent Examiner’s Report to the Trustees 7
Statement of Financial Activities 8
Balance Sheet 9
Statement of Cash Flows 10
Notes forming part of the Financial Statements 11 - 16

Trinity Church Oxford

Legal and Administrative Information

Charity name: Trinity Church Oxford Registered charity number: 1157703 Trustees: Peter Comont (Senior Pastor) (10th April 2014 – present) Ken Giles (Elder) (3rd November 2016 – present) Andrew Chard (3rd March 2022 – present) Treasurer: Zachary Jackman Church administrator: Emma Leverton 5 Sadler Walk Oxford OX1 5TX Registered office: 28 Cowley Road Littlemore Oxford OX4 4LD Independent examiner: Mr Andrew Rodzynski FCA Wenn Townsend – Chartered Accountants 30 St Giles Oxford OX1 3LE Bankers: Barclays Bank 54 Cornmarket Street Oxford OX1 3HB

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Trinity Church Oxford

Report of the Trustees for the year ended 31st March 2022

The trustees present their annual report and financial statements of the charity for the year ended 31st March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities published in 2015.

Structure, governance and management

Governing document

Trinity Church Oxford was formed by a Constitution which was adopted on 10th April 2014 on which date the Rules of the church were also adopted. Trinity Church Oxford was registered as a charity under these documents on 3rd July 2014. These documents have not been amended this year.

Charitable Aims

Trinity Church Oxford is registered with the Charity Commission as a Charitable Incorporated Organisation (Charity Number: 1157703).

The purposes of the church as registered with the Charity Commission are:

  1. The advancement of the Christian faith in accordance with the Basis of Faith primarily but not exclusively within the city of Oxford and the surrounding neighbourhood; and

  2. Such other charitable purposes as shall, in the opinion of the charity trustees further the work of the church.

Organisational structure, governance and management

The church membership is the church’s decision-making body. Major decisions are made at meetings of the members of the charity, on the recommendation of the Trustees or church members. The Trustees are committed to calling members meetings around four times a year.

The spiritual leadership and overall management of the church is in the hands of the Elders. Those in the role of Elder or Pastor are automatically appointed Trustees of the church. Their details are held by the Charity Commission. Elders are not paid, although one of the elders during the year as Senior Pastor received payment for this specific role as per the Constitution. The Senior Pastor also receives a housing allowance. The Church has an Expenses Policy which is adhered to in the process of claiming expenses, and these are logged by the Senior Pastor and Pastor in Training onto a platform, Expensify. Expense reports can then be reviewed by the Treasurer and Church Administrator and paid once approved.

Ministry Team Leaders are appointed by the Trustees, and agreed by a simple majority of the church membership at a Members’ Meeting. Ministry Team Leaders have oversight for children’s and youth work, home groups, welcome, tech and worship activities. These individuals are answerable to the Trustees. The Senior Pastor meets termly with these appointed individuals.

A Church Administrator is employed part-time by the church to perform any duties deemed necessary by the Trustees of the church. They are responsible for the day-to-day management of the church finances and secretarial duties.

The church generally meets quarterly for Members Meetings which are business meetings at which the Trustees present financial updates and any proposals put forward by either the Trustees or Church Members.

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Trinity Church Oxford

Report of the Trustees (continued) for the year ended 31st March 2022

Organisational structure, governance and management (continued)

2021-2022 Transitions in Elders, Deacons, & Staff:

Affiliations

The church is affiliated with the Fellowship of Independent Evangelical Churches, is part of Acts 29, and has associations with Redeemer: City to City Europe.

Public benefit

The Trustees have kept in mind the Charity Commission’s guidance on public benefit and subsequent obligations. They believe that thus far, our obligation to provide public benefit is clearly demonstrated, as can be seen in the report below.

REPORT OF THE TRUSTEES: REVIEW OF THE YEAR

Trinity Church Oxford was planted with a vision to gather Christians in the city to worship God, equipping them for a lifetime of service, so that together we might reach and bless both the city of Oxford and the world with the life changing message of the Gospel.

A primary aim within all of Trinity’s activities is the furtherance of the Christian faith as outlined in the statement of faith adopted by the church in April 2014. To this end, the church is first committed to the pastoral care and discipleship of its members, attenders and others in need as they come into contact with the church. Despite the challenges of the past year, our calling remains the same and more importantly, the God we serve continues to be faithful and gracious and has once again worked in us and through us in our weakness, sustaining his Church and bringing about the advancement of the Gospel. In 2021-2022, Trinity continued to hold weekly public worship services, run regular homegroups for prayer and fellowship, run prayer meetings and church meals, host public events, and encourage fellowship, evangelism, and mission overall:

Looking back, we have much to be thankful for and can also look ahead to the future with excitement, knowing that all we do is only in God’s strength. We continue to be driven by four principles: We gather to worship God, we nurture in community, train for service and seek to reach and bless the world.

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Trinity Church Oxford

Report of the Trustees (continued) for the year ended 31st March 2022

Worship

We have been very thankful that over this past year we have been able to gather each Sunday for in-person Church services. On Sunday mornings we gathered for our main service in the Curzon cinema, one of the newest and most comfortable locations in town. Our term-time evening services happen in the oldest building in Oxford, St Michael at the North Gate. Our arrangement with the Curzon cinema recently came to an end and so we are now looking for a more permanent venue for our Sunday morning services, whilst continuing our services in St Michaels.

Our services remain simple, focused on the Bible and providing an opportunity for us to encourage one another as a Church family and seeking to provide a space for those who are exploring Christianity to ask questions.

Community

Trinity remains a special place for those who call it home, even if they are simply passing through. A particular highlight was our weekend away at the beginning of the school year. Around 50 of the congregation enjoyed fun, fellowship and the beautiful Cotswold countryside. The energy from this weekend kickstarted a new season of opportunity with the Church growing throughout the autumn of 2021. We have baptised several people this year and a number of people have joined the membership of the Church.

Homegroups remain an essential part of Church life and provide an excellent opportunity for deep friendships and support. We now have seven homegroups meeting across the city and are particularly delighted with the opportunity to gather in people’s homes this year. One of greatest joys of ministering in the centre of Oxford is the opportunity to engage with students at both Oxford and Oxford Brookes Universities. Our prayer is that involvement in Trinity will prepare our students for a lifetime of service in churches around the globe.

Reaching and Blessing the World

We are keen to give people opportunities to think about the claims of Christianity. To that end we have run different events, including a Jazz evening and a Carol Service, giving people an opportunity to try out Church in a more informal environment. We continue to support the work of the OICCU (Oxford Inter-Collegiate Christian Union) and Oxford Brookes University Christian Union and hope to find opportunities to partner with other churches in different ministries towards the homeless community, refugees and others who are vulnerable.

Training

As Trinity continues to grow, we long to train people to live as Christians in the world. We have a residency scheme, which allows missionaries to experience British culture and begin to explore opportunities in this country. Our Pastor, Peter Comont continues to be involved in a range of training environments, providing theological and pastoral input to church workers across the region.

Staffing

We have been very thankful for a range of different people who have served in different capacities over the past number of years, but have been particularly thankful for the stability we have known over these past five years as our Senior Pastor, Peter Comont and Pastor-in-Training, James Leverton have worked together amidst a transient congregation. James and his family are moving on from Oxford in September but we are excited that Tom Wilding and Fiona Hamilton will be starting in September as our new Pastor-in-Training and Female Pastoral worker.

Financial Review

The main source of income continues to be the generous support of regular individual givers, including members, alumni, and external givers. Church members, alumni, and external givers also support Trinity through additional one-off gifts, including support from the United Kingdom, the US, and other countries.

The majority expenditure of the church is the salaries for staff, necessary for the day-to-day management and running of the church and organisation of regular activities. As Trinity does not own property, venue hire for weekly services also remains a significant cost over the course of the year. Trinity also maintains a policy to support external ministries through regularly giving 10% of internal funds raised.

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Trinity Church Oxford

Report of the Trustees (continued) for the year ended 31st March 2022

Financial Review (continued)

During the Covid-19 pandemic, donations raised through internal giving remained on par with expectations, but external giving lagged behind what was budgeted. Despite the external giving shortfall, Trinity remains within range of its ongoing financial development plan that particularly focuses on being able to grow and hire additional ministry staff in the autumn of 2022 and steering the church toward greater internal sustainability and growth. There may be an increase in external giving as the pandemic subsides, but giving may also recover more slowly, leading so a delay in realizing the goals. Nevertheless, Trinity is in a healthy financial position overall and thankfully, even with a delay and hiring new staff, is still within range toward goals of sustainability. By God’s grace, Trinity has received additional support from the FIEC toward funding a full-time women’s pastoral worker and a continued commitment from a previous anonymous grantor to keep supporting the Pastorin-Training role.

The financial development plan will continue to be monitored, especially as the church continues to grow and as life continues to open up after the pandemic.

Concluding Remarks

Almost all of the church’s activities are open to all, including young people and those with children, except insofar as there are some requirements relating to membership and Christian commitment. Services and home groups in particular are open to the public to come in at any time. Members’ Meetings are also open to all, but it is only church Members (18 years old and above) who are able to vote on church business.

In undertaking all of these activities, the charity also aims to equip all Christians who participate in the life of the church to proclaim and live out their commitment to Christ in their own daily life and spheres of influence. The charity’s advancement of Christianity for the public benefit therefore extends beyond these specific activities to encompass the transformed lives and Christian witness of all those in whom God has been at work through the church’s ministries.

In overseeing the activities of the charity during the period described in this report, the charity’s trustees have had regard to the public benefit guidance published by the Charity Commission as it relates to the charity’s objects as described above.

By God’s grace, we are continuing to see him accomplish his purposes through our fellowship, as he has graciously brought unbelievers to a saving knowledge of himself, given us the opportunity to work in the lives of Oxford University students, and sent members of our congregation out across the city of Oxford and to the ends of the earth seeking to serve our great God and King.

Looking ahead

We are looking forward to seeing what the next year holds for Trinity Church, with a particular focus on:

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Trinity Church Oxford

Report of the Trustees (continued) for the year ended 31st March 2022

Trustees’ responsibilities statement

Charity law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that year.

In preparing those accounts, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charity and enable them to ensure that the accounts and financial accounts comply with charity law (in particular the Charities Act 2011) and the charity’s constitution.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees on 9th June 2022 and signed on their behalf.

_____ Peter Comont - Senior Pastor and Chair of Trustees

_____ Ken Giles – Elder and Trustee

_____ Andrew Chard – Elder and Trustee

_______ Zachary Jackman – Treasurer

________ Emma Leverton – Church Administrator

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Trinity Church Oxford

Independent Examiner's Report to the Trustees of Trinity Church Oxford

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31st March 2022 which are set out on pages 8 to 16.

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’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Andrew Rodzynski Wenn Townsend Chartered Accountants 30 St Giles Oxford OX1 3LE

……………………………….. 2022

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Trinity Church Oxford

Statement of Financial Activities for the year ended 31st March 2022

Notes Total Total
Unrestricted Restricted 2022 Unrestricted Restricted 2021
£ £ £ £ £ £
Income
Donations 103,326 - 103,326 152,107 - 157,107
Grants - 29,305 29,305 - 32,000 32,000
───── ───── ───── ───── ───── ─────
Total income 103,326 29,305 132,631 152,107 32,000 184,107
───── ───── ───── ───── ───── ─────
Expenditure
Charitable activities 3 155,428 29,305 184,733 104,606 32,000 136,606
───── ───── ───── ───── ───── ─────
Total expenditure 155,428 29,305 184,733 104,606 32,000 136,606
───── ───── ───── ───── ───── ─────
Net movement in funds (52,102) - (52,102) 47,501 - 47,501
Fund balances brought forward at 1st April 2021 100,162 - 100,162 52,661 - 52,661
───── ───── ───── ───── ───── ─────
Fund balances carried forward at 31st March 2022 48,060 - 48,060 100,162 - 100,162
═════ ═════ ═════ ═════ ═════ ═════

The notes on pages 11 to 16 form an integral part of these financial statements

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Trinity Church Oxford

Balance Sheet as at 31st March 2022

Notes 2022 2021
£ £ £ £
Fixed assets
Tangible assets 7 2,227 3,436
Current assets
Debtors 8 - 5,904
Cash at bank and in hand 151,501 94,107
───── ─────
151,501 100,011
Creditors: amounts falling due
within one year 9 (30,668) (3,285)
───── ─────
Net current assets 120,833 96,726
───── ─────
Total assets less current liabilities 123,060 96,726
───── ─────
Creditors: amounts falling due
after one year 10 (75,000) -
───── ─────
Net assets 48,060 100,162
═════ ═════
Unrestricted funds 48,060 100,162
═════ ═════

The financial statements were approved and authorised for issue by the Trustees on 9th June 2022 and signed on their behalf by:

…………………………… P Comont Trustee

………………………….

K Giles Trustee

The notes on pages 11 to 16 form an integral part of these financial statements

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Trinity Church Oxford

Statement of Cash Flows for the year ended 31st March 2022

Notes
Cash flows from operating activities
Cash generated/(used) by operations
11
Cash flows from investing activities
Purchase of tangible fixed assets
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
57,624
(230)
_
57,394
94,107
_
151,501
═════		 2021
£
69,711
(4,803)
_
64,908
29,199
_
94,107
═════

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Trinity Church Oxford

Notes to the Accounts

for the year ended 31st March 2022

1 Accounting policies

Company information

Trinity Church Oxford is a charitable incorporated organisation, Charity registration number 1157703, and is governed by a constitution which establishes the objects and powers of the charitable organisation. The charity was registered on 3rd July 2014.

(a) Basis of preparation

These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1st January 2019. The charitable incorporated organisation is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

(b) Fund accounting

(c) Income

All income is included in the SOFA when the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy, and it is probable that income will be received.

(d) Expenditure

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance coats are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.

Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(e) Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2022

1 Accounting policies (continued)

(e)

Tangible fixed assets (continued)

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fitting and equipment

15% and 40% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

(f)

Impairment of fixed assets

At each reporting end date, the charitable incorporated organisation reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

(g) Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the charitable incorporated organisation becomes party to the contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price.

(h)

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements.

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2022

2 Donations and legacies

2022
£
Donations (including gift aid)
103,327
══════

3
Charitable expenditure
2022
£
Staff costs
106,032
Depreciation
1,439
Church events
12,161
Rent & rates
23,158
Sundry
114
Travel and subsistence
3,361
Office running costs
3,575
Away giving
19,637
Support costs (see note 4)
15,256
_
184,733
═════
Included in staff costs is £29,305 (2021:£32,000) of restricted expenditure.
4
Support costs
2022
£
Staff costs
8,125
Telephone
897
Printing, postage and stationery
539
Insurance
262
Bank fees
366
Governance costs (see note 4a)
5,067
_
15,256
═════
4(a)
Governance costs
2022
£
Independent examiner’s fees
860
Legal and professional
4,207
_
5,067
═════		 2021
£
152,107
══════
2021
£
91,183
2,290
1,620
7,996
1,540
1,006
3,939
8,819
18,213
_
136,606
═════
2021
£
10,255
757
869
260
60
6,012
_
18,213
═════
2021
£
820
5,192
_
6,012
═════

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2022

5 Related party transactions

The trustees may receive reasonable and proper remuneration for goods and services provided to the church, as stated in the charity’s constitution, in respect of their employment. They do not receive remuneration for acting as a trustee.

Two (2021: one) of the trustees received remuneration during the year: P Comont £45,302 (2021: £44,409) for acting as Pastor for the church, and A Chard £14,811 for acting as Cultural Outreach Worker.

The trustees were reimbursed expenses totalling £99 for travel and meals, £897 for telephone, £334 for office costs, and £986 for sundry items.

6 Employees

Number of employees

The average monthly number of employees during the year was:

Direct charitable work
Charitable support
Employment costs
Wages and salaries
Social security costs
Pension costs
Other costs		 2022
Number
3
1
_
4
═════
£
91,156
4,238
14,544
4,219
_
114,157
═════		 2021
Number
2
1
_
3
═════
£
84,664
3,828
9,741
3,205
_
101,438
═════

There were no employees whose annual remuneration was £60,000 or more.

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2022

7 Tangible fixed assets

7 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1st April 2021 10,124
Additions 230
_
At 31st March 2022 10,354
_
Depreciation
At 1st April 2021 6,688
Depreciation charged in the year 1,439
_
At 31st March 2022 8,127
_
Carrying amount
At 31st March 2021 3,436
═════
At 31st March 2022 2,227
═════
8 Debtors
2022 2021
£ £
Other debtors - 5,904
Prepayments and accrued income - -
───── ─────
- 5,904
═════ ═════
9 Creditors falling due within one year
2022 2021
£ £
Social security - 2
Accruals and deferred income 30,647 2,834
Other creditors 21 449
───── ─────
30,668 3,285
═════ ═════

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Trinity Church Oxford

Notes to the Accounts (continued) for the year ended 31st March 2022

10 Creditors falling due after more than one year
2022 2021
£ £
Accruals and deferred income 75,000 -
───── ─────
75,000 -
═════ ═════
11 Cash generated from operations
2022 2021
£ £
Surplus/(deficit) for the year (52,102) 47,501
Adjustments for:
Depreciation of tangible fixed assets 1,439 2,290
Movements in working capital:
(Increase)/decrease in debtors 5,904 21,461
Increase/(decrease) in creditors 102,383 (1,541)
───── ─────
Cash generated/(used) by from operations 57,624 69,711
═════ ═════

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02720 Trinity Church Oxford 2022 accounts

Final Audit Report

2023-01-26

Created: 2023-01-26 By: Grace Penn (gracepenn7@gmail.com) Status: Signed Transaction ID: CBJCHBCAABAAPdLNwjqEAuR-Dkvjxi0o5kKSZMiVz5wX

"02720 Trinity Church Oxford 2022 accounts" History

Document created by Grace Penn (gracepenn7@gmail.com)

2023-01-26 - 5:29:20 PM GMT- IP address: 90.213.57.203

Document emailed to peter@trinitychurchoxford.com for signature

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Email viewed by peter@trinitychurchoxford.com

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Signer peter@trinitychurchoxford.com entered name at signing as Mr P S V Comont 2023-01-26 - 8:19:27 PM GMT- IP address: 82.5.15.15

Document e-signed by Mr P S V Comont (peter@trinitychurchoxford.com)

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